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Cable Update (GBPUSD)

  • #297,961
  • Jan 14, 2012 12:12pm Jan 14, 2012 12:12pm
Quoting nAVIN2007
its not about big balls..whats so hard about placing a trade and sticking to it..thats all im doing

mate.

you bought at the top.

all these months are not about taking a trade, but rationalizing a mistake.

come on.
  • #297,962
  • Jan 14, 2012 12:17pm Jan 14, 2012 12:17pm
Quoting nAVIN2007
its not about big balls..whats so hard about placing a trade and sticking to it..thats all im doing..everything thats happening is in your head..

i have been in a trade 2 months..i feel like i just entered it, not because im brave but because i fell nothing..think about that..its all in the head..big balls have nothing to do with it..unless u feel, big balls are needed to trade

and im not sure but i made a decision and am sticking to it..fear will be the only reason i stop it
When entering a trade with no rational stop loss then the trade is all about feelings.
  • #297,963
  • Jan 14, 2012 12:17pm Jan 14, 2012 12:17pm
Quoting Fudomyo
mate.

you bought at the top.

all these months are not about taking a trade, but rationalizing a mistake.

come on.
ok man..i made a mistake..i have admitted it wasnt a good decision trade wise..but its a trade...what do u know about where price is going??? nothing other than yur speculative view

which i respect but its nothing more..so what makes u think i should listen too u??? and change my trade..seriously?

Quoting Deusomega
When entering a trade with no rational stop loss then the trade is all about feelings.

and what makes u think u can define what a rational stop is? it is relative
  • #297,964
  • Jan 14, 2012 12:19pm Jan 14, 2012 12:19pm
repeating patterns of bullish divergence to the daily chart at Fri/last week's 5234 Lo ..How significant these turn out to be we will know soon enough..I wouldn't be surprised to see more uposide rally on Moinday ?
1hr shown below as the example.

http://i40.tinypic.com/2zsp5hc.jpg

G/L
ex member
  • #297,965
  • Jan 14, 2012 12:23pm Jan 14, 2012 12:23pm
Quoting nAVIN2007
ok man..i made a mistake..i have admitted it wasnt a good decision trade wise..but its a trade...what do u know about where price is going??? nothing other than yur speculative view

which i respect but its nothing more..so what makes u think i should listen too u??? and change my trade..seriously?




and what makes u think u can define what a rational stop is? it is relative
No one can know with certainty where the market will go. All one can do is plan everything out before entering the trade and sticking to that plan without allowing justitifcations and rationalizations to creep into their mind.

If this was all part of your plan then you have traded well.
  • #297,966
  • Jan 14, 2012 12:26pm Jan 14, 2012 12:26pm
Quoting Fudomyo
ok.


I take my profits right now in small parcels because a lot can go terribly wrong with the amount of uncertainty in the markets.




Agreed, not a time to get greedy...
Money never sleeps...
  • #297,967
  • Jan 14, 2012 12:27pm Jan 14, 2012 12:27pm
Quoting nAVIN2007
ok man..i made a mistake..i have admitted it wasnt a good decision trade wise..but its a trade...what do u know about where price is going??? nothing other than yur speculative view

which i respect but its nothing more..so what makes u think i should listen too u??? and change my trade..seriously?
no

don't listen to me.

how do you dig yourself out?

you need to find your own answers.

I was in a similar position a few years back and made a royally shitty mistake, so no judgment.

what I did was scale out, so I could free up capital to counterbalance my bad trade.

as long as you're locked in to a single badly losing position, you are at the mercy of the markets.

that's all I was trying to say.
  • #297,968
  • Jan 14, 2012 12:27pm Jan 14, 2012 12:27pm
Quoting Deusomega
No one can know with certainty where the market will go. All one can do is plan everything out before entering the trade and sticking to that plan without allowing justitifcations and rationalizations to creep into their mind.

If this was all part of your plan then you have traded well.
this is what i doing...or trying to do..
if it goes wrong its a bad trade..
  • #297,969
  • Jan 14, 2012 12:32pm Jan 14, 2012 12:32pm
Quoting Fudomyo
no

don't listen to me.

how do you dig yourself out?

you need to find your own answers.

I was in a similar position a few years back and made a royally shitty mistake, so no judgment.

what I did was scale out, so I could free up capital to counterbalance a bad trade.

as long as you're locked in to a single badly losing position, you are at the mercy of the markets.

that's all I was trying to say.

all in is never a good idea.
i am not all in..i would never do this..right now my drawdown is 20% or around this figure, i respect u, u know this
but i have a very tough head and nobody in this world can influence my decisions unless i see the sense in there logic..price is still in a uptrend and when it switches to downtrend..im looking for exit

i take what u say cause u care and are trying to help me..i realise this and thank u for the concern

http://blog.fxtechstrategy.com/2012/...pture-its.html

note:-medium term downtrend

oh man i did it again..i hijack the thread (sorry folks)
  • #297,970
  • Jan 14, 2012 12:44pm Jan 14, 2012 12:44pm
Quoting nAVIN2007
i am not all in..i would never do this..right now my drawdown is 20% or around this figure, i respect u, u know this
but i have a very tough head and nobody in this world can influence my decisions unless i see the sense in there logic..price is still in a uptrend and when it switches to downtrend..im looking for exit

i take what u say cause u care and are trying to help me..i realise this and thank u for the concern
lol

ok you are Ganko

this is Japanese for stubborn.

I like that in you, and I am very much the same.

but look at the numbers.

you are sitting in a loss for an unreasonable time.

that's all it comes down to.

if you are safe then good on you, but we are in this to profit, not prove we are ultimately right.

so if you could have earned 200K and sat in a 60K loss for 4 months to realize a 20K profit, that's not efficient.

make more money.
  • #297,971
  • Jan 14, 2012 12:50pm Jan 14, 2012 12:50pm
Quoting Fudomyo
lol

ok you are Ganko

this is Japanese for stubborn.

I like that in you, and I am very much the same.

but look at the numbers.

you are sitting in a loss for an unreasonable time.

that's all it comes down to.

if you are safe then good on you, but we are in this to profit, not prove we are ultimately right.

so if you could have earned 200K and sat in a 60K loss for 4 months to realize a 20K profit, that's not efficient.

make more money.
for me this trade was never about the money it was about increasing risk tolerance and knowing that mentally i was strong..i was simply pushing the boundaries..its just this trade is at a place where very soon it will prove me wrong..i got much more than i bargained
bloody market
thanks for yur words..yes im a Ganko (1k %)

i completely see your point thou..if i survive this..id have turned a massive corner ..lol
  • #297,972
  • Jan 14, 2012 12:56pm Jan 14, 2012 12:56pm
Quoting Fudomyo
lol

ok you are Ganko

this is Japanese for stubborn.

I like that in you, and I am very much the same.

but look at the numbers.

you are sitting in a loss for an unreasonable time.

that's all it comes down to.

if you are safe then good on you, but we are in this to profit, not prove we are ultimately right.

so if you could have earned 200K and sat in a 60K loss for 4 months to realize a 20K profit, that's not efficient.


make more money.
I think its about time to let navin do what he wants, its not really about how the bad trade is undermining his performance but for a trader like him who likes to hold onto a bad trade, he reminded me when i was long usdchf back in last year august, i knew the SNB were gona intervene at a big way longed at 0.8000 but i had to suffer a huge drawdown of 1000 pips as it went down to 0.7 before SNB intervened, i knew there were gona bit dunno where.

As for navin his bad trade will be a true test of his capability as a good trader, someone capable of turning in a positive outcome with a bad start
We live in a finite world with infinite possibilities.
FxTyrant M-Series (Live - Darwinex) All Time Return: 0.7%
  • #297,973
  • Jan 14, 2012 1:16pm Jan 14, 2012 1:16pm
Quoting bguguen
I think its about time to let navin do what he wants, its not really about how the bad trade is undermining his performance but for a trader like him who likes to hold onto a bad trade, he reminded me when i was long usdchf back in last year august, i knew the SNB were gona intervene at a big way longed at 0.8000 but i had to suffer a huge drawdown of 1000 pips as it went down to 0.7 before SNB intervened, i knew there were gona bit dunno where.

As for navin his bad trade will be a true test of his capability as a good...
are you seriousl.Ive been around this forum for a while now and usually i just like to read over everybodys comments ,but every once in a while some fool comes and starts talkin sh*t

Your a bit like the pot calling the kettle black arent you
  • #297,974
  • Jan 14, 2012 1:29pm Jan 14, 2012 1:29pm
Quoting Fudomyo
mate

when you have real skin in the game it's not about losing a few pips.

when this is your livelihood it's a whole different story.


it's good you're doing well. but you need to understand real DD.

at 20% of principle on a live account, this is no joke.

On a small 1M account it's 200K.

most people would consider this a significant loss.
20% is big... but seriously there are traders with a risk reward having rewards up to 100-200% in this industry...
personally i think you should just let navin handle his own account....simple as that... reason because he can hold a trade until it turns around... in the mean time... hes compensating his losses by making winning trades at other pairs... the losses i got on my account is being compensated in crosses

WHen you are losing betting the wrong side on EURUSD, the best way to do is to bet the right direction on crosses like EURJPY since EURJPY moves a lot more stronger in a direction than EURUSD does.... betting the same size you benefit more this way...

thats my style atleast... for me...

nothing against you fudo but its the weekend and i think its just best we calm our nerves for monday...
We live in a finite world with infinite possibilities.
FxTyrant M-Series (Live - Darwinex) All Time Return: 0.7%
  • #297,975
  • Jan 14, 2012 1:33pm Jan 14, 2012 1:33pm
Hi Nav

Hope you are doing okay...re your post: What t/f do you consider is still in an uptrend on this gbpusd pairing ? There are many ways to guage wether there is a trend present of course but on the longer t/f's ie 4hr to the monthly I cannot see an uptrend by any measure I know of ?

Best,

BBmac.

Quoting nAVIN2007
i am not all in..i would never do this..right now my drawdown is 20% or around this figure, i respect u, u know this
but i have a very tough head and nobody in this world can influence my decisions unless i see the sense in there logic..price is still in a uptrend and when it switches to downtrend..im looking for exit
ex member
  • #297,976
  • Jan 14, 2012 2:16pm Jan 14, 2012 2:16pm
The eyes will also be on the euro area and more auctions scheduled for this week and U.S. earnings as the overall market sentiment will also influence the movement and define the dollar status versus the pound. We see the chances for the pound to gain on good data shall the sentiment remain positive and risk appetite hold, as otherwise the pound will likely resume its bearish footsteps versus the dollar.
  • #297,977
  • Jan 14, 2012 2:29pm Jan 14, 2012 2:29pm
Quoting markmc27
Good one

Ill give you 5k to trade and let you piss it away like your own account.If your going to put your account on display for all to see and its that bad i wouldnt be boasting about tradong .Down 31% and an unrealised loss of another $1900

http://www.myfxbook.com/members/bguguen.....Click on the one thats down 31% and you can see how bad he is

Oh look there is your 275 pip winner from yesterday on GBP/USD .you won 137.50

01/03/2012 06:09 01/13/2012 16:05 GBPUSD Sell 0.05 0.00000 1.52750 1.55500 1.52750 275.0 137.50

Well...
Nothing to hide... yes i trade 0.05 lot, but buddy if you delve into it properly i opened this account through a trader whos managed to lose half my account, ever since, ive been trying to recover and to minimise my losses, and yes EURUSD is a bad one... but it aint hurting me... im just interested to see where EURUSD would bottom, besides i didnt open that trade... look at those 2 EURUSD trade comments... they are bot trades, aint working too well but 1.4 long term, easy to hold 0.1 lot on the EURUSD down by 1.3k pips and still survivingm should tell you something about how im managing to win trades to keep me balanced... losing trades been holding for long but look at december and stuff.. im working to keep account balance growing... December was nice... and this month aint finished... my bets are im gona get this account growing another 20% this month...

Interesting enough is lets see if you can spot out my corporate account where i trade my investor's money... since thats the account thats growing... my personal account?? meh like to experiment on things... 5k is nothing to me... yawn

but all i got to say is i've had enough trading with bots... December is when i decided to go manual sooo if you want to look put your eyes on december onwards
We live in a finite world with infinite possibilities.
FxTyrant M-Series (Live - Darwinex) All Time Return: 0.7%
  • #297,978
  • Jan 14, 2012 3:48pm Jan 14, 2012 3:48pm
Does anyone else see 52ish as an important bear target? Haven't heard much on this level at all but it seems important level to me at 62.8 retrace. Just curious of others thoughts.
Come with me if you want to live....
  • #297,979
  • Jan 14, 2012 3:50pm Jan 14, 2012 3:50pm
Quoting Ill-b-back
Does anyone else see 52ish as an important bear target? Haven't heard much on this level at all but it seems important level to me at 62.8 retrace. Just curious of others thoughts.
That is 61.8 retrace and support from a while back. On phone, no chart sorry, but is clear to see.
Come with me if you want to live....
  • #297,980
  • Jan 14, 2012 4:46pm Jan 14, 2012 4:46pm
Why would you ever want to hold losing positions that much? the more losing positions you hold the more likely you will end up with margin call. Use stop loss
Free up your margin better that way.
To make $ it's easy if you trade during Asian hour.
Small range unless it's break loose.

You can't make $ until you learn how to take loss on losing positions.
When you're on the wrong side, just accept that you're wrong.



Quoting bguguen
yea btw im 19 years old still in my learning curve here... its been dumb of me to let someone trade my account but over the last 2 months, ive been applying my own knowledge in forex to save this account buddy... as far as i see this month will be as profitable as the last, however i still need to manage the losing trades, what i intend to do with the EURUSD is to close them if it gets back up to 1.35 which is still a possibility, while making as much as i can on other pairs to compensate if it continues to fall, so far its been great
Despite EURUSD...
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