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Cable Update (GBPUSD)

  • #316,561
  • Jun 15, 2012 2:58pm Jun 15, 2012 2:58pm
lol why have you just waited with them buys Nav all this time !!?


Quoting nAVIN2007
are u really so surprised!!
i need to update my lfx platform the mofo stopped working..stupid feed
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #316,562
  • Jun 15, 2012 2:59pm Jun 15, 2012 2:59pm
maybe gap over that would be bullish for def

Quoting Bones
personally I was playing the major falling tl ,anyway this is what I see ,now more data
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #316,563
  • Jun 15, 2012 3:00pm Jun 15, 2012 3:00pm
Maybe you added ?


Quoting Bones
lol why have you just waited with them buys Nav all this time !!?
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #316,564
  • Jun 15, 2012 3:05pm Jun 15, 2012 3:05pm
well it all sounds good ,I'm betting most would have trouble making a actual living out odd 20pips a day ,actually easier to make 200 in my opinion also ,longer trade gives time to add as I did on fall which was hugely profitable

we all different


Quoting redbeben
another post....just trying to make some light for newstarters.

when I started trading real accounts I was trading micro(0.01) then mini(0.10) and later multiple standard lots.

a good trader should pay attention at the MM as this is what wins the money at the end of the day.

You only need 20 pips a day to be rich in one year if you do the math...but it depends how you do it.

Ex.if you start @ 1k account and have 20 pips profit a day(normally all traders should get some) this will shoot up the account to 56k at the end of the year.and this...
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #316,565
  • Jun 15, 2012 3:14pm Jun 15, 2012 3:14pm
Quoting manniMe
I'm sorry, but if 600 pips kills your account you might consider getting in to some other type of business.
ok true a 600 pips DD should not burn an account. in that case would mean to be in overleverage. but definetly a 600p DD is a huge thing to manage with, and it is not like opening a random trade and hold it for 600 to 5000p DD hoping to see a reverse in price.

to hold a 600p DD means
a. you know what you are doing
b. your equity is well solid
c. you don't have only that trade
d. you are hedging that position
e. you are having huge profits from another position.

in point d. i don't mean the hedge like it is sometimes said in here. i mean a serious hedge. not certainly buy EU and buy Uch.

so definetly more than 200p DD is an high risk trade that requires a huge portion of skills in trading.

now the question: have you so much abilities to do?
good for you! looking forward for your next post, will be very interesting for me and also for other people to learn from such a great trader.

but remember that most part of people trade for... let's say quick position with an average stop loss of 50 to 250 pips to target average from 50 to 250p. what i mean by saying that is better close all positions is just because of this.

finally, i agree 100% with redb: matter is not the n° of pips. what matter is the % of equity in DD at X n of pips. if avg equity of retail traders is around 3k, you immediatly come to a conclusion that a 600p DD is way too much since would require a very small lot size. in this case even a 1000p profits after 1year in DD and half a year in partial profits, just to get a 10% of equity, is way non sense!

90% of traders use TA, indicators and prediction
  • #316,566
  • Jun 15, 2012 3:22pm Jun 15, 2012 3:22pm
Quoting Bones
well it all sounds good ,I'm betting most would have trouble making a actual living out odd 20pips a day ,actually easier to make 200 in my opinion also ,longer trade gives time to add as I did on fall which was hugely profitable

we all different
yes add into a psotion sometimes is possible.
not easy because require a daily trend for a 500 pips move at least.

happened in may. june still not happening.

i'm unable to add into a position. i prefer set a step-by-step trading.
so for example i went short 1.61 to 1.60. again below 1.59 to 1.57 etc....

yes, we all different
90% of traders use TA, indicators and prediction
  • #316,567
  • Jun 15, 2012 3:23pm Jun 15, 2012 3:23pm
Quoting manniMe
Wrong. As it all depends on what are you aiming for. 200 pips drawdown is nothing if you are aiming for 400+.
BBKing, I think you should seriously consider throwing some people in your ignore list
The only way not to think about money is to have a great deal of it
  • #316,568
  • Jun 15, 2012 3:35pm Jun 15, 2012 3:35pm
Quoting Makavelli7
BBKing, I think you should seriously consider throwing some people in your ignore list

naah.... sometimes i did in the past... and i have been heavily proved wrong!
everybody have different ideas, and different way to expose, but of course, from an objective point of view, nobody is right and nobody is wrong! :nerd:

ok.... the only one always right is market!

personally, more than 50pips DD my finger goes in autopilot to close position, assuming that there was not the stop loss already at 49p
90% of traders use TA, indicators and prediction
  • #316,569
  • Jun 15, 2012 3:55pm Jun 15, 2012 3:55pm
Gbpnzd
~1.97 sl
~2.05 tp

(sweden 2 - england 3)
((gbpusd + 0.98%))
Attached Image(s) (click to enlarge)
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Click to Enlarge Name: AvSlmNLCQAAxRzG.jpg Size: 131 KB
  • #316,570
  • Jun 15, 2012 4:04pm Jun 15, 2012 4:04pm
Hello Traders

Got caught as my longs taken out,still carrying a small short.
All week I ended up on the wrong side off these waves an dips.
Next week i will turn the computer upside down an catch every dip.
Next week I will try another pair out,trying to win at the moment is very difficult.
EUR/US seem to have bigger waves an dips,which gives you a better chance of scalping.I do this to try build the account an recover the trades which did not pan out.

Next week should better

Great week end everybody
  • #316,571
  • Jun 15, 2012 11:42pm Jun 15, 2012 11:42pm
Quoting eliteincome
Hello Traders

Got caught as my longs taken out,still carrying a small short.
All week I ended up on the wrong side off these waves an dips.
Next week i will turn the computer upside down an catch every dip.
Next week I will try another pair out,trying to win at the moment is very difficult.
EUR/US seem to have bigger waves an dips,which gives you a better chance of scalping.I do this to try build the account an recover the trades which did not pan out.

Next week should better

Great week end everybody
these last 3 weeks have been really not easy to trade!
i bet that next week will be the worst, so be careful and before open a trade read what is happening in price. 2 years ago, during the big crash in euro to 1.18, i remember bounces in charts for 40 to 80 pips in a single 1m candle. lol

btw, to read better price try to use PA rules
http://www.forexfactory.com/showthread.php?t=230888
90% of traders use TA, indicators and prediction
  • #316,572
  • Jun 16, 2012 12:12am Jun 16, 2012 12:12am
Just wanted to point out ,how wrong I was here ,in fact shortly after it shot up ,the purpose of the break to test area ,also was a sign of what was coming ,I should have taken profit here ,

Buyers were indeed above that tl ,which was respected all week ,


Quoting Bones
did you see stop hunt above MAJOR FALLING TL

Hint
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #316,573
  • Jun 16, 2012 12:16am Jun 16, 2012 12:16am
Yes I havnt looked at gbp nzd but im already thinking about this set up


Quoting trader_fx1
Gbpnzd
~1.97 sl
~2.05 tp

(sweden 2 - england 3)
((gbpusd + 0.98%))
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #316,574
  • Jun 16, 2012 12:18am Jun 16, 2012 12:18am
lower tl very much confirmed ,I think even to 2 point


Quoting Bones
personally I was playing the major falling tl ,anyway this is what I see ,now more data
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #316,575
  • Jun 16, 2012 3:51am Jun 16, 2012 3:51am
Quoting Bones
Yes I havnt looked at gbp nzd but im already thinking about this set up
hi pal, How are things in Hawaii? Sun ok? Ocean ok? Girls ok?

Anyway i like GBPNZD cause give us big moves. but sometimes is going crazy and might confuse intraday traders and scalpers.

be carefull to check your R/R ratio and leverage are the two most important to be succesful in long tern.
if you dont find good R/R ratio wait to enter short or long in the right time

indeed patience is a virtue
  • #316,576
  • Jun 16, 2012 4:40am Jun 16, 2012 4:40am
Quoting _BBKing_
yes add into a psotion sometimes is possible.
not easy because require a daily trend for a 500 pips move at least.

happened in may. june still not happening.

i'm unable to add into a position. i prefer set a step-by-step trading.
so for example i went short 1.61 to 1.60. again below 1.59 to 1.57 etc....

yes, we all different

hi,

I don't get the add into position part and the 500 pips move

I did this calculation

1st month
You start with 1000 usd
You need 20 pips per day
20pips*0.10=20 usd
20 usd*22 working days=440 USD

2 nd month
1440 uSD
20*0.14=28 usd
28*22=616 usd

3rd month
2050 usd
20*0.2=40usd
40*22=880 usd

4th month
3000 usd
20*0.3=60 usd
60*22=1320 usd

5th month
4320usd
20*0.43=86usd
86*22=1900 usd

6th month
6200 usd
20*0.62=130usd
130*22=2860 usd

7th month
9000 usd
20*0.9=180 usd
180*22=4000 usd

8th month
13000usd
20*1.3=260 usd
260*22=5720 usd

9th month
19000usd
20*1.9=380 usd
380*22=8360 usd

10th month
27000usd
20*2.7=540 usd
540*22=11200


11th month
39000usd
20*3.9=780usd
870*22=17160 usd

12th month
56000 usd and you spend them all on a house, car, boat or hookers

so basically if you trade 0.10 for each 1k of your balance and only 20 pips per day you can make it ...and as you see the calculation is a rough one as after one month you won't have that fix profit as I never added daily to the balance but only at the end of the month .

all you need is discipline and balls to stick to the big lots
  • #316,577
  • Jun 16, 2012 4:49am Jun 16, 2012 4:49am
Poor Wales, lost it after the Fulltime siren
43 years and counting
Come with me if you want to live....
  • #316,578
  • Edited 5:24am Jun 16, 2012 5:02am | Edited 5:24am
A bullish week overall after the upside breech of the 4hr descending trend line and concurrent upside b/o of the 5599-5402 4hr range with price covering 114% of the 20 week atr and on Friday 227% of the 20 day atr - the biggest daily range for some time on this pairing. So far this mointh 75% of 20 month atr has been covered. Friday's 5726 Hi came at the top of a previous minor 4hr sw hi zone with 50% of the 6180-5267 move. Price closed just off this Hi and above the Monthly Pivot now.

Weekly
This t/f remains in an overall price action (opa) range with the last L @ 5267 and asfter the Inverted hammer of the week before an upside follow thru from the clear support extending down to 5234 this week just closed resulting in a bullish thrust candle on this t/f.
Daily
The previous opa classic downtrend has been replaced by what may be the beginnings of an opa uptrend on this t/f with 4 x HL's and a H at Friday's Hi now that closed above the last 2 x LH's on this t/f. Friday's Daily candle was a bullish hammer.
4hr
An upside break out of the recent 5599-5402 and even more recent 5597-5453 opa range on this t/f has seen what may be the beginnings of a general opa uptrend on this t/f. The last 4hr candle close was very bullish.

So, all eyes on Greece then Sunday/Monday, could see some volatility !

G/L
Attached Image(s) (click to enlarge)
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Click to Enlarge Name: 4hr.jpg Size: 149 KB
ex member
  • #316,579
  • Jun 16, 2012 5:11am Jun 16, 2012 5:11am
Quoting bbmac
A bullish week overall after the upside breech of the 4hr descending trend line and concurrent upside b/o of the 5599-5402 4hr range with price covering 114% of the 20 week atr and on Friday 227% of the 20 day atr - the biggest daily range for some time on this pairing. So far this mointh 75% of 20 month atr has been covered.

Weekly
This t/f remains in an overall price action (opa) range with the last L @ 5267 and asfter the Inverted hammer of the week before an upside follow thru from the clear support extending down to 5234 this week...

i would like to see a straight 2xweekly to close month around 1.64-1.65
there is whole room to do it!
90% of traders use TA, indicators and prediction
  • #316,580
  • Jun 16, 2012 5:16am Jun 16, 2012 5:16am
Typical friday price action, price breaks out to one side and continues in that direction. Normally expect a pullback to test the breakout and cable has a tendency to make its low on a Monday. So would like to sell a gap up on cable during Asia, but prices are relativly flat from Fridays close I will wait for London open and take a sell. and maybe look for a buy before London finishes. Just hoping to catch some of the daily range 70-90 pips. small stop above high. Retail sentiment neutral at 50% having been chopped all over the place they are standing aside from the next 1.56-1.57 ping pong
Attached Image (click to enlarge)
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