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Cable Update (GBPUSD)

  • #296,041
  • Dec 29, 2011 12:39pm Dec 29, 2011 12:39pm
GBPUSD Long 2,500,000 1.54550 1.53970 -14,513 USD -14,513 -0.38 % yes im down over 14k
  • #296,042
  • Dec 29, 2011 12:45pm Dec 29, 2011 12:45pm
Quoting PoundTrader
GBPUSD Long 2,500,000 1.54550 1.53970 -14,513 USD -14,513 -0.38 % yes im down over 14k
you down over 14k with drawdown less than 100 pips? i assume your account has to be in millions then.
  • #296,043
  • Dec 29, 2011 12:51pm Dec 29, 2011 12:51pm
Quoting A-speculator
you down over 14k with drawdown less than 100 pips? i assume your account has to be in millions then.
no a little over 300k by the way the 1.5397 was the current price if i was to close the trade, i am long at 1.5455
  • #296,044
  • Dec 29, 2011 12:53pm Dec 29, 2011 12:53pm
Quoting PoundTrader
no a little over 300k bt the way the 1.5397 was the current price is i was to close the trade, i am long at 1.5455
try lowering your position sizing mate.. since you are trading in a volatile pair, why not just use 1-2%?

the good thing when you are using lower position size, it's easier to cut loss.. at least that's what i feel like.
  • #296,045
  • Dec 29, 2011 12:53pm Dec 29, 2011 12:53pm
Quoting PoundTrader
ok here's is my set-up, buying at 1.5455, s/l 1.5279, t/p 1.5687
here's what i posted yestrerday
  • #296,046
  • Dec 29, 2011 12:58pm Dec 29, 2011 12:58pm
Quoting A-speculator
try lowering your position sizing mate.. since you are trading in a volatile pair, why not just use 1-2%?

the good thing when you are using lower position size, it's easier to cut loss.. at least that's what i feel like.
no to be mean but i don't need any advice, this account was started with $500 usd last year, and this is not my main account, with this account i take more risk to get to that mill a little quicker
  • #296,047
  • Dec 29, 2011 1:02pm Dec 29, 2011 1:02pm
Quoting PoundTrader
here's what i posted yestrerday
atm, i'm not sure it will get that far mate.. but who knows what tomorrow will bring us, right?

but, hope is a dangerous thing in this game mate.. currently, based on technical, i'm really not sure it'll go 5600 area, at best (based on current PA) 5575 but there's a number of resistance that it has to go though first..

the way i see it, first resistance is ~5480, if that breaks than maybe ~5575, than maybe ~5715..

that's my 2 pips.
  • #296,048
  • Dec 29, 2011 1:04pm Dec 29, 2011 1:04pm
Quoting PoundTrader
no to be mean but i don't need any advice, this account was started with $500 usd last year, and this is not my main account, with this account i take more risk to get to that mill a little quicker
with that said, hope you the best mate.

hope you can get to that million a little sooner.. who knows, right?

all the best!
  • #296,049
  • Dec 29, 2011 1:16pm Dec 29, 2011 1:16pm
dont long downtrends in a historic event related eurozone crisis.
  • #296,050
  • Dec 29, 2011 2:14pm Dec 29, 2011 2:14pm
Quoting A-speculator
atm, i'm not sure it will get that far mate.. but who knows what tomorrow will bring us, right?

but, hope is a dangerous thing in this game mate.. currently, based on technical, i'm really not sure it'll go 5600 area, at best (based on current PA) 5575 but there's a number of resistance that it has to go though first..

the way i see it, first resistance is ~5480, if that breaks than maybe ~5575, than maybe ~5715..

that's my 2 pips.
no my s/l and my t/p change daily so these wont be my s/l or t/p, waiting for the system to confirm
  • #296,051
  • Dec 29, 2011 2:30pm Dec 29, 2011 2:30pm
Quoting PoundTrader
no to be mean but i don't need any advice, this account was started with $500 usd last year, and this is not my main account, with this account i take more risk to get to that mill a little quicker
are you serious? from 500 to 300k ?

would be good for my challenge: i had an account @25€
now it is 150€ in 1week trading + another position yesterday.
my target is 5k

sounds easy now!
90% of traders use TA, indicators and prediction
  • #296,052
  • Dec 29, 2011 2:37pm Dec 29, 2011 2:37pm
Quoting _BBKing_
are you serious? from 500 to 300k ?

would be good for my challenge: i had an account @25€
now it is 150€ in 1week trading + another position yesterday.
my target is 5k

sounds easy now!
yes im dead serious, if i was lying i will only be fooling myself, the market is like my personal ATM comes easy once you figure it out, not to say i didn't blow over 10k starting out but you gonna learn some how
  • #296,053
  • Dec 29, 2011 3:03pm Dec 29, 2011 3:03pm
Quoting _BBKing_
are you serious? from 500 to 300k ?

would be good for my challenge: i had an account @25€
now it is 150€ in 1week trading + another position yesterday.
my target is 5k

sounds easy now!
when i first started trading..he used to think i was mad to not be able to hold a trade..it was he who flipping made me realize market patience and discipline is necessary..and without his help aint sure id be here today

still not sure after this trade
  • #296,054
  • Dec 29, 2011 3:04pm Dec 29, 2011 3:04pm
hopefully we can get a closed below 9400 in daily for swissy.. so that i can feel a little save with my positions..
  • #296,055
  • Dec 29, 2011 3:19pm Dec 29, 2011 3:19pm
Quoting nAVIN2007
when i first started trading..he used to think i was mad to not be able to hold a trade..it was he who flipping made me realize market patience and discipline is necessary..and without his help aint sure id be here today

still not sure after this trade
lol, remember my trades never last more then 3 days, still don't, it's just a waste of time holding for so long when there are pips on the table
  • #296,056
  • Dec 29, 2011 3:28pm Dec 29, 2011 3:28pm
Quoting GlobalMacro
Alright I've reached a conclusion...the triangle breakdown looks very heavy and steady and bearish momentum strong.

I am selling here @ 1.5450
Cable remains under selling pressure; every rally attempt is met with renewed selling capping her safely below my entry @ 1.5450

She's quietly sitting around 1.5410 as of this writing putting the position in positive territory for 40 pips

I will continue to hold onto the short position for the time being.
Hear the music before the song is over ...
  • #296,057
  • Dec 29, 2011 3:50pm Dec 29, 2011 3:50pm
Quoting PoundTrader
just begining my friend, watch and learn
Man, I just woke up and seems I've missed all the discussion fun. You're a classic dude, all the best with the mill challenge. Seems like A lot of fun. Still gaining more confidence in system, but learning i just need patience to wait for the right set up. When i get it i let my own analysis get in the way and sometimes when its not quite right i take it anyway, and pay for it. Patience and trust, patience and trust. I'm over and out. Back to business.
Come with me if you want to live....
  • #296,058
  • Dec 29, 2011 4:01pm Dec 29, 2011 4:01pm
Quoting PoundTrader
ok here's is my set-up, buying at 1.5455, s/l 1.5279, t/p 1.5687
ok im still long at 1.5455, new s/l at 1.5303, new t/p at 1.5539
  • #296,059
  • Dec 29, 2011 4:50pm Dec 29, 2011 4:50pm
Quoting PoundTrader
ok im still long at 1.5455, new s/l at 1.5303, new t/p at 1.5539
Hey Pound Trader, What is your win rate if that's an ok question?
Come with me if you want to live....
  • #296,060
  • Dec 29, 2011 5:37pm Dec 29, 2011 5:37pm
Simple look at the daily chart for the British Pound -

Look at this simple chart.....we are in the same spot that we were at the beginning of this year.....hmmmmmmm. We are sitting on strong support, stochastics are oversold Macd has been flat lining since the end of November.......we are moving sideways in a price channel since the end of September..... other then what looks like a head and shoulders pattern on this daily chart I see no reason why not to go long the Pound. Come on.....is the Euro Zone really going to let things go to CRAP? I think not.....markets are up, corporations are profitable......we just had a big sell off.....for what reason I really cannot put my finger on - Now I am not saying go into this blind but - unless the world is really coming to an end every currency has to have a certain value and at this point I see the Pound as a good buy.


Currently I am long from 1.5401


Comments welcome....

Cheers,

Faller
Attached Image (click to enlarge)
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I don't trust any move - when you have profit...take it.
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