On-site guru & also FF member's' psychiatrist, when not drinking tea
Cable Update (GBPUSD)
- #315,901
- Jun 10, 2012 2:27am Jun 10, 2012 2:27am
- Joined Nov 2007 | Status: left CanaryWharf desk-tea break | 24,286 Posts
I had around 20+ positions each on GBP/USD and GBP/JPY...2 weeks earlier...
with open profit(pips) around +15000 pips(unrealized profit) if i had closed it 2 weeks earlier then i would have easily increased my money by 6 folds in less than 3 weeks...
Last week price turned around and i closed some legs and some died at break even... Now I am at +7000 pips which is reduced by 8000 pips...
My growth was tremendous because for every pip movement on my chart i had 20 pip profit or loss because i had 20+ positions.
I could have traded in opposite direction but i didn't...will see this week bones...
with open profit(pips) around +15000 pips(unrealized profit) if i had closed it 2 weeks earlier then i would have easily increased my money by 6 folds in less than 3 weeks...
Last week price turned around and i closed some legs and some died at break even... Now I am at +7000 pips which is reduced by 8000 pips...
My growth was tremendous because for every pip movement on my chart i had 20 pip profit or loss because i had 20+ positions.
I could have traded in opposite direction but i didn't...will see this week bones...
I am a hunter...i kill both bulls and bears...
I had around 20+ positions each on GBP/USD and GBP/JPY...2 weeks earlier...
with open profit(pips) around +15000 pips(unrealized profit) if i had closed it 2 weeks earlier then i would have easily increased my money by 6 folds in less than 3 weeks...
When i started trading i thought +100 pips is great but my account was small so +2% of increase in my account is great.so,i just make a entry and after 50 pips of positive movement i will put my trade at b/e.I will only take profit after +1000 pips on each position.I will have 3 to 4 positions per day.My risk is less but growth is high.
I like all your posts....
I am a hunter...i kill both bulls and bears...
- #315,904
- Jun 10, 2012 2:52am Jun 10, 2012 2:52am
IMO..GBP is down.
Reason:
Last week i lost 8000 + pips...anyway i was busy with other stuff...i will gain this week...
I will see other charts...
If you have let go of 8000+ pips profit last week due to other stuff then you must be demo trading or a billionaire.
As a matter of interest, why didn't you have a trailing stop or a similar mechanism to protect your gains?
Wishing you green pips.
- #315,905
- Jun 10, 2012 3:06am Jun 10, 2012 3:06am
- Joined Nov 2007 | Status: left CanaryWharf desk-tea break | 24,286 Posts
good job O ,no I think you have played the move very well 
If weekly cable low goes then trend continues
Tony
If weekly cable low goes then trend continues
Tony
I had around 20+ positions each on GBP/USD and GBP/JPY...2 weeks earlier...
with open profit(pips) around +15000 pips(unrealized profit) if i had closed it 2 weeks earlier then i would have easily increased my money by 6 folds in less than 3 weeks...
Last week price turned around and i closed some legs and some died at break even... Now I am at +7000 pips which is reduced by 8000 pips...
My growth was tremendous because for every pip movement on my chart i had 20 pip profit or loss because i had 20+ positions.
I could have traded in opposite...
On-site guru & also FF member's' psychiatrist, when not drinking tea
Hey Rasi
I am small retail trader started with 500$ mini account.I am trading from last one year.My lot is very less it is .02.
So,+8000 pips is +1600$.But,i am trying to cut my losses.
No trailing stops because that doesn't work for me.Presently,I am having position at 1.061 on GBP/USD if i trail stop by 100 pips then i might have lost this position last week when price turned against downward direction.
IMO last week was retrace.If I had used trail stop then it would have knocked out all my positions and making me start my positions from scratch which i don't like.
so,no trail stop.only s/l to b/e.Now,my position is free because i don't have any money on it.Let,that run.I will only take profit when it reach 2000 pips.I will take some profit when price turn's against me.
I am small retail trader started with 500$ mini account.I am trading from last one year.My lot is very less it is .02.
So,+8000 pips is +1600$.But,i am trying to cut my losses.
No trailing stops because that doesn't work for me.Presently,I am having position at 1.061 on GBP/USD if i trail stop by 100 pips then i might have lost this position last week when price turned against downward direction.
IMO last week was retrace.If I had used trail stop then it would have knocked out all my positions and making me start my positions from scratch which i don't like.
so,no trail stop.only s/l to b/e.Now,my position is free because i don't have any money on it.Let,that run.I will only take profit when it reach 2000 pips.I will take some profit when price turn's against me.
I am a hunter...i kill both bulls and bears...
- #315,908
- Jun 10, 2012 7:05am Jun 10, 2012 7:05am
- Joined Dec 2007 | Status: mac daddy junior :) | 20,899 Posts
good job O ,no I think you have played the move very well
If weekly cable low goes then trend continues
Tony
- #315,911
- Jun 10, 2012 1:17pm Jun 10, 2012 1:17pm
- Joined Nov 2007 | Status: left CanaryWharf desk-tea break | 24,286 Posts
On-site guru & also FF member's' psychiatrist, when not drinking tea
- #315,912
- Jun 10, 2012 1:38pm Jun 10, 2012 1:38pm
- Joined Sep 2010 | Status: Life Time Member | 6,685 Posts
- #315,913
- Jun 10, 2012 1:45pm Jun 10, 2012 1:45pm
- Joined Jan 2009 | Status: Not bothered. | 18,084 Posts
lmao you serous ??
anyway what the chance of that
England winning the tournament .....
Thank You
lmao you serous ??
anyway what the chance of that
have a nice week
- #315,915
- Jun 10, 2012 2:06pm Jun 10, 2012 2:06pm
- Joined Nov 2007 | Status: left CanaryWharf desk-tea break | 24,286 Posts
I will lol
lol
On-site guru & also FF member's' psychiatrist, when not drinking tea
- #315,917
- Jun 10, 2012 3:08pm Jun 10, 2012 3:08pm
- Joined Jan 2009 | Status: Per Aspera Ad Astra | 6,262 Posts
- #315,920
- Jun 10, 2012 3:36pm Jun 10, 2012 3:36pm
- Joined Apr 2010 | Status: Today is my first trading day! | 9,452 Posts
euro is trading above 1.26 and gbp is near 1.55 vs usd.
i don't know what this tells you guys, but i would be a bit worried being short just based in a line or in a candle.
if market begin a short covering (very possible since both EU N GU are out of steeper donwtrend) will close this week very up and only god knows at what price will open next week or what will develop this week.
Imo, we don't go so much down as many say. not yet. market is not ready to go below 1.20 in EU. it will happen, but not so immediatly.
but as many knows, i never hold a trade more than some hours. max extension is the following day. so my thoughts will be useless.
good luck, will be out whole week maybe sometimes pop in if i see a good trade setup happening
i don't know what this tells you guys, but i would be a bit worried being short just based in a line or in a candle.
if market begin a short covering (very possible since both EU N GU are out of steeper donwtrend) will close this week very up and only god knows at what price will open next week or what will develop this week.
Imo, we don't go so much down as many say. not yet. market is not ready to go below 1.20 in EU. it will happen, but not so immediatly.
but as many knows, i never hold a trade more than some hours. max extension is the following day. so my thoughts will be useless.
good luck, will be out whole week maybe sometimes pop in if i see a good trade setup happening
90% of traders use TA, indicators and prediction