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Cable Update (GBPUSD)

  • #284,421
  • Jul 15, 2011 5:13am Jul 15, 2011 5:13am
Quoting gristar
Attached is my current chart
Your stop loss, apart from anything else, is at least three times farther apart from your opening price then your target price, so your risk:award ratio is 3:1.
It's ridiculous and I really hope it's not real money you're playing with because you'll get margin-called sooner then you say butterscotch.
Don't get mad, get even!
  • #284,422
  • Jul 15, 2011 5:15am Jul 15, 2011 5:15am
Quoting stulic
Your stop loss, apart from anything else, is at least three times farther apart from your opening price then your target price, so your risk:award ratio is 3:1.
It's ridiculous and I really hope it's not real money you're playing with because you'll get margin-called sooner then you say butterscotch.
Okay. any advice now what should i do? what changes best for SL and tP.
  • #284,423
  • Jul 15, 2011 5:17am Jul 15, 2011 5:17am
Quoting gristar
Okay. any advice now what should i do? what changes best for SL and tP.
Sure, move your SL to 1.6084, forget about that trade for a while, open a demo account and start practising first.
Don't get mad, get even!
  • #284,424
  • Jul 15, 2011 5:18am Jul 15, 2011 5:18am
Quoting gristar
I have
TP : 1.62022
Open : 1.61217
SL : 1.60322

Is it correct if i move my stop loss to 1.6090 for now?
well... thats intresting... may I ask u why that will happen.. ?..
  • #284,425
  • Jul 15, 2011 5:21am Jul 15, 2011 5:21am
1.6080 support area worked great:

http://xmages.net/storage/10/1/0/5/d...d/8097ad7b.png
  • #284,426
  • Jul 15, 2011 5:28am Jul 15, 2011 5:28am
85-105..distribution ?
Trader from Croatia
  • #284,427
  • Jul 15, 2011 5:30am Jul 15, 2011 5:30am
Quoting josef
1.6080 support area worked great:

http://xmages.net/storage/10/1/0/5/d...d/8097ad7b.png
Hi Josef, where were you all this while? I was missing your great trade calls. You have any positions open?
  • #284,428
  • Jul 15, 2011 5:30am Jul 15, 2011 5:30am
Quoting gristar
I have
TP : 1.62022
Open : 1.61217
SL : 1.60322

Is it correct if i move my stop loss to 1.6090 for now?

Sorry to say; but i don't know your reason for such stop losses or even entry points. I analyze and trade what i see on charts. u r a long term trader from your stop losses and all you are targeting so just hold the trade and stay calm.
Keep the Lights on then you can catch the rise from the dark.
  • #284,429
  • Jul 15, 2011 5:35am Jul 15, 2011 5:35am
Quoting josef
1.6080 support area worked great:

http://xmages.net/storage/10/1/0/5/d...d/8097ad7b.png
Very true, in intra-week terms the resistance that's been capping bulls for some time proved very strong again.

Multiple attempts to break through upper pink trendline failing, h4 also closing always inside orange channel.
Also below a possible breakout of an ascending triangle. I love H4 line charts since they disregard sudden spikes and fundamentally driven rallies
Attached Image(s) (click to enlarge)
Click to Enlarge Name: cable15073.gif Size: 32 KB
Click to Enlarge Name: cable15074.gif Size: 21 KB
Don't get mad, get even!
  • #284,430
  • Jul 15, 2011 5:42am Jul 15, 2011 5:42am
6122 seems fixed. GU now targets 6054. Here we go now!!!!
Keep the Lights on then you can catch the rise from the dark.
  • #284,431
  • Jul 15, 2011 5:49am Jul 15, 2011 5:49am
Quoting Johnny Depp
well... thats intresting... may I ask u why that will happen.. ?..
Electricity breakdown. :-( . when i got back it is too late to monitor. I should have let go when i have a few pips in profit
  • #284,432
  • Jul 15, 2011 5:51am Jul 15, 2011 5:51am
Quoting ricmaj
Sorry to say; but i don't know your reason for such stop losses or even entry points. I analyze and trade what i see on charts. u r a long term trader from your stop losses and all you are targeting so just hold the trade and stay calm.
well im not saying that guys wrong... coz that thing can happen.. it already happen on 9 march this year if im not wrong....on opposite direction... even I been cought on SL that day.... thats why I want to know why he think that will happen... just currious...
  • #284,433
  • Jul 15, 2011 5:51am Jul 15, 2011 5:51am
Quoting gristar
Electricity breakdown. :-( . when i got back it is too late to monitor. I should have let go when i have a few pips in profit
That's gonna be in my signature, thank you so much you made my day!
Don't get mad, get even!
  • #284,434
  • Jul 15, 2011 5:55am Jul 15, 2011 5:55am
Quoting Johnny Depp
well im not saying that guys wrong... coz that thing can happen.. it already happen on 9 march this year if im not wrong....on opposite direction... even I been cought on SL that day.... thats why I want to know why he think that will happen... just currious...
Every day something will happen, and somebody will get caught at some point anticipating something different to happen.
You can either gamble or try to get the few percent of edge to make consistent profits, otherwise you always lose in long term. Always!
Don't get mad, get even!
  • #284,435
  • Jul 15, 2011 6:01am Jul 15, 2011 6:01am
Quoting Johnny Depp
well im not saying that guys wrong... coz that thing can happen.. it already happen on 9 march this year if im not wrong....on opposite direction... even I been cought on SL that day.... thats why I want to know why he think that will happen... just currious...
I planned to trade long on short term initially.
If you look at M15, M30, H1 chart. It is all in short term up trend. (in 6 hours earlier) and it is at the support of the M15 chart.
I normally will cut loss manually far away before it hit stop loss depends on market condition. The SL is just for safety purpose in case I have any technical problem on my site. Like Today.
  • #284,436
  • Jul 15, 2011 6:11am Jul 15, 2011 6:11am
Quoting gristar
I planned to trade long on short term initially.
If you look at M15, M30, H1 chart. It is all in short term up trend. (in 6 hours earlier) and it is at the support of the M15 chart.
I normally will cut loss manually far away before it hit stop loss depends on market condition. The SL is just for safety purpose in case I have any technical problem on my site. Like Today.
You must be used to cutting losses alot by the sounds of it, I can only repeat my advice to you to keep your money in your bank account until you had enough practice in demo, unless you have so much that it doesn't matter getting burned every week.
Don't get mad, get even!
  • #284,437
  • Jul 15, 2011 6:22am Jul 15, 2011 6:22am
Quoting Geene
85-105..distribution ?
apparently so.. once demand over there fulfilled they're gonna marking down.
could US CPI or Euro Bank Stress Test Results be the trigger ?
only time will tell.

see M / double top formation
.
Attached Image (click to enlarge)
Click to Enlarge Name: distribution.gif Size: 9 KB
  • #284,438
  • Jul 15, 2011 6:34am Jul 15, 2011 6:34am
Quoting gristar
I planned to trade long on short term initially.
If you look at M15, M30, H1 chart. It is all in short term up trend. (in 6 hours earlier) and it is at the support of the M15 chart.
I normally will cut loss manually far away before it hit stop loss depends on market condition. The SL is just for safety purpose in case I have any technical problem on my site. Like Today.
yeah u are right 'bout that.... thats why im also enter my trade on H1 chart....
let share something with u..... this is my H4 chart... but im using multiple Stop/resistence level... the red line indicate daily chart moves ... and that is what I want to trigger ASAP.... to trigger it I need a conformation on H4 ( the blue line) ... right now.. H4 already trigger it twice... so in my opinion.. the bearish mode r happening... all out of the sudden u came with an amazing moves.... hahaha....thats why im currious to know... no heart feeling ehh...
Attached Image
  • #284,439
  • Jul 15, 2011 6:40am Jul 15, 2011 6:40am
Quoting stulic
You must be used to cutting losses alot by the sounds of it, I can only repeat my advice to you to keep your money in your bank account until you had enough practice in demo, unless you have so much that it doesn't matter getting burned every week.
This is my second week in the forex with real account. I still not burned. Invest 200 $ and just scalping 1 point here 2 points there Waithing stres test hope for big CASH
Once scalper always scalper
  • #284,440
  • Jul 15, 2011 6:47am Jul 15, 2011 6:47am
^ That's of course another option

$200 is a micro account, much better to start with then a demo. Play money is play money after all
Don't get mad, get even!
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