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Cable Update (GBPUSD)

  • #295,161
  • Dec 20, 2011 8:35am Dec 20, 2011 8:35am
Quoting fontu
sorry to hear that also . shorted ok but why huge , me also done but very limited & ok to minimise any loss .
fontu
shorted was good for a while just now.i should have taken profit while it last.
feeling so crappy right now.

yeah should shorted with small lot and SL.
  • #295,162
  • Dec 20, 2011 8:40am Dec 20, 2011 8:40am
Quoting dremstar
shorted was good for a while just now.i should have taken profit while it last.
feeling so crappy right now.

yeah should shorted with small lot and SL.
market is dangerous and anything is possible but shorting when gold has hit major trendline, euro is on major support and also cable is in a range..the odds of a breakout to downside u need a bit of rope..and u didnt give yurself any


anyways its part of learning..thin up and move on!!
  • #295,163
  • Dec 20, 2011 8:43am Dec 20, 2011 8:43am
Quoting abdul_halim
M1..
The crazy showing it's extreme power to avoid this fall or correction , may show the mouth ( camel ) at least .let play more to be clear .eu has the d top now but gu not yet , late this time .
fontu
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  • #295,164
  • Dec 20, 2011 8:45am Dec 20, 2011 8:45am
Quoting nAVIN2007
market is dangerous and anything is possible but shorting when gold has hit major trendline, euro is on major support and also cable is in a range..the odds of a breakout to downside u need a bit of rope..and u didnt give yurself any


anyways its part of learning..thin up and move on!!
thanks man
  • #295,165
  • Dec 20, 2011 8:49am Dec 20, 2011 8:49am
Quoting dremstar
thanks man
thats the spirit buddy..u didnt lose anything so long as u learnt from it..

heres a chart so u can see why it was dangerous

be fortunate next time
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  • #295,166
  • Dec 20, 2011 8:54am Dec 20, 2011 8:54am
i won't waste again time to answer.
90% of traders use TA, indicators and prediction
  • #295,167
  • Dec 20, 2011 8:56am Dec 20, 2011 8:56am
im sorry to read some lost accounts in this move!
risk appetite on markets....

gbp aud crashing
silver n gold up
GU EU AU heavy up

what a reversal-day!
90% of traders use TA, indicators and prediction
  • #295,168
  • Dec 20, 2011 8:56am Dec 20, 2011 8:56am
Quoting kaspopsicle
hedged long @648. Added short @ 684. Closed all 669. BE
Nice work, I am short but I have very low lot sizes.

I've found hedging can be better than SL's for rescuing trades provided that you do not break the 2% equity drawdown rule.

I look where supply and demand zones are and trail one side of the hedge upto that.

I closed out my long hedge at 5681 just before the supply zone. she appears to be falling now, of course if we get another leg up I'll close out the trades and loose 2%. But like i said, it's nice to have a second chance.
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  • #295,169
  • Dec 20, 2011 9:01am Dec 20, 2011 9:01am
Quoting leerees
Nice work, I am short but I have very low lot sizes.

I've found hedging can be better than SL's for rescuing trades provided that you do not break the 2% equity drawdown rule.

If I get near 2% I'll start to look where supply and demand zones are and trail one side of the hedge upto that.

I closed out my long hedge at 5681 just before the supply zone. she appears to be falling now, of course if we get another leg up I'll close out the trades and loose 2%. But like i said, it's nice to have a second chance.
hedging can be good but it is dangerous because u need to have good understanding and tough head..it messes with my head so i dont try do it no more

u obviously better at it
  • #295,170
  • Dec 20, 2011 9:04am Dec 20, 2011 9:04am
Quoting nAVIN2007
hedging can be good but it is dangerous because u need to have good understanding and tough head..it messes with my head so i dont try do it no more

u obviously better at it
I'm not really that good I just open a hedge when drawdown hits 1%, then I trade my way out. If I get it wrong a second time then I take a 2% loss.

f you know price is going to bounce off somewhere rather than use a fix stop loss you can use the hedge to freeze drawdown whilst price reaches the level you want. So rather than widening the stop and increasing risk exposure you freeze the risk with the hedge.
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  • #295,171
  • Dec 20, 2011 9:10am Dec 20, 2011 9:10am
Quoting leerees
I'm not really that good I just open a hedge when drawdown hits 1%, then I trade my way out. If I get it wrong a second time then I take a 2% loss.

Really it's the same thing as a stop loss except if you know price is going to bounce off somewhere rather than use a fix stop loss you can use the hedge to freeze drawdown whilst price reaches the level you want.

I agree in theory but in practice it work different for me, especially when u let one out..i will do it thou when i have a profit and expect a retrace..then it work quite well
  • #295,172
  • Dec 20, 2011 9:20am Dec 20, 2011 9:20am
Quoting nAVIN2007
I agree in theory but in practice it work different for me, especially when u let one out..i will do it thou when i have a profit and expect a retrace..then it work quite well
It didn't work out for me in the end, I hit my -2% equity so had to close out both trades, although it does work out more often than not. It depends on the situation, your lot sizes and how far away your price targets are.

It could work nice on retraces, just remember to stick to the equity rule as runaway hedges can be really dangerous. When I first started trading I used to double up the size of the hedge lol. I quickly learnt the danger of that the day I lost 10% of my account ;-)

I'm expecting price to rise to .5720, if it breaches that then I'm closing up shop for christmas.
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  • #295,173
  • Dec 20, 2011 9:21am Dec 20, 2011 9:21am
short short will come into play when n.y. close
  • #295,174
  • Dec 20, 2011 9:26am Dec 20, 2011 9:26am
Quoting PoundTrader
short short will come into play when n.y. close
I think so too, there's some nice supply zones coming up, one of them has to hold, the market can't go up for ever, this short squeeze will be over soon.
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  • #295,175
  • Dec 20, 2011 9:36am Dec 20, 2011 9:36am
Gonna try a short from around 1.57, to around 1.56
  • #295,176
  • Dec 20, 2011 9:39am Dec 20, 2011 9:39am
Quoting Clouds
Gonna try a short from around 1.57, to around 1.56
The Dow struggling at 12,000. Could pull back to 11,900 before a continuation
  • #295,177
  • Dec 20, 2011 9:39am Dec 20, 2011 9:39am
Quoting leerees
It didn't work out for me in the end, I hit my -2% equity so had to close out both trades, although it does work out more often than not. It depends on the situation, your lot sizes and how far away your price targets are.

It could work nice on retraces, just remember to stick to the equity rule as runaway hedges can be really dangerous. When I first started trading I used to double up the size of the hedge lol. I quickly learnt the danger of that the day I lost 10% of my account ;-)

I'm expecting price to rise to .5720, if it breaches that then...

at least u can cut it and not get emotionally involved
good for u
  • #295,178
  • Dec 20, 2011 9:47am Dec 20, 2011 9:47am
Hold onto your hats boys, I'm eyeing another leg up here!
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  • #295,179
  • Dec 20, 2011 9:57am Dec 20, 2011 9:57am
If this breaches 1.5700 then it's heading to the moon.
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  • #295,180
  • Dec 20, 2011 10:01am Dec 20, 2011 10:01am
checking the crazy again , ok for any but seems not great further , d top & d bottom all in place earlier , down channel . smaller tf another bull attempt I see breaking 5693 also but if breaks anyway 5684 then will mark as weakness & breaks 60 ( better 49 ) will mark as failure for now, not talking about final confirmation starts with 5556 . waiting see if over 5700 or not .
seeing broken 5684 .
fontu
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Not understand?better not follow my analyses!doubt clearer first, risks ++
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