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Cable Update (GBPUSD)

  • #324,641
  • Sep 20, 2012 5:43am Sep 20, 2012 5:43am
Quoting nAVIN2007
i know what u mean ..but if u trade on day dailly generally u place stop below the low right..well on a 16 month chart i place the stop below the low of the candle..i caught the wrong side of a range..but we were always in that range..

im just glad i got the hell out otherwise id be down again..lol

edit:- look at this chart ..how bearish is it to u?

the reaction is completely expected because of the huge bear candle on the left..but u cant dismiss a follow through..
I know what you mean bro. And my answer is.....

http://www.forexfactory.com/showthre...82#post6028382

Ghost Rider - WWTBMD?
  • #324,642
  • Sep 20, 2012 6:17am Sep 20, 2012 6:17am
good place to enter short.
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  • #324,643
  • Sep 20, 2012 7:00am Sep 20, 2012 7:00am
Quoting redbeben
I personally look at a bowl of cereals and figures in mashed potatoes for my TP and SL....but sometimes I look at the moon...or no...at the moon I only look when I hawooolllll

just kidding.


I preffer to trail all profitable trades.there's no sense on setting a TP and closing there even if I know there will be a retrace.I simply close partially the trade and trail it as you never know what then market brings you


if it turns against you you already have profit + the locked by trail

if it continues sweet joy ...at least this is what I...
The target means I don't over-trade, which is what I was guilty of when I first started a few years back. I'd find myself in a position where I had made my target for the day by lunchtime, but just kept trading until I either ended up with a few losses or gave it all back to the markets. This happened too often for my liking. On the days when I made losses, I would feel pressure to make it all back, and that affected my thinking.
Of course there are many days when I don't come close to 50 pips, but i guess it helps me set a limit so I don't over-trade.
If we know how much we want to achieve from our trading daily or weekly, I think it helps keep us in check. Many may disagree and want to get as much as they can out of the markets. I'm not saying they're wrong, just that it doesn't work for me.

I hear what you're saying about my RR, but the bigger lots are only for scalping purposes and I usually enter those trades only when I'm already in a trade with smaller pips. If I'm not certain (though nobody can ever be 100% certain with trading) that there's 20 pips to be had, I just won't trade the bigger lots.

Valid point you make about holding out for 50 pips. I also like knowing that once my trades are banked or closed out, my profits are locked in.

Hope this makes sense.
Who knows, tomorrow this could stop working for me and I may change my strategy around completely... but for now it seems to work great.

Thanks for the response
The learning never ends.
Show Me Your Pips!!!
  • #324,644
  • Sep 20, 2012 7:35am Sep 20, 2012 7:35am
I'm long EU 1.2945 TP 1.2995 SL 1.2910
  • #324,645
  • Sep 20, 2012 7:39am Sep 20, 2012 7:39am
Quoting redbeben
I'm long EU 1.2945 TP 1.2995 SL 1.2910
me too but at 1.2952
  • #324,646
  • Sep 20, 2012 7:40am Sep 20, 2012 7:40am
Quoting redbeben
I'm long EU 1.2945 TP 1.2995 SL 1.2910
Must be nice to be able to trade both ways at once. Wish I could (without a separate account that is)
Ghost Rider - WWTBMD?
  • #324,647
  • Sep 20, 2012 8:08am Sep 20, 2012 8:08am
Quoting gavalar
me too but at 1.2952
out @ BE
  • #324,648
  • Sep 20, 2012 8:11am Sep 20, 2012 8:11am
Quoting redbeben
out @ BE
good move, i had a fundie schmundie moment
  • #324,649
  • Sep 20, 2012 8:17am Sep 20, 2012 8:17am
Quoting gavalar
good move, i had a fundie schmundie moment
I have no idea about fundies but M15 gave me a perfect sell signal

so down move continuation to 1.2916 as a min IMO

later ....my last TP is 1.2804-05 or something
  • #324,650
  • Sep 20, 2012 8:27am Sep 20, 2012 8:27am
Quoting redbeben
I have no idea about fundies but M15 gave me a perfect sell signal

so down move continuation to 1.2916 as a min IMO

later ....my last TP is 1.2804-05 or something
I agree with levels. Just waiting to see if the noise will produce any spike to get a better price at.
Ghost Rider - WWTBMD?
  • #324,651
  • Sep 20, 2012 8:33am Sep 20, 2012 8:33am
Quoting redbeben
I have no idea about fundies but M15 gave me a perfect sell signal

so down move continuation to 1.2916 as a min IMO

later ....my last TP is 1.2804-05 or something
obviously neither do I.
  • #324,652
  • Sep 20, 2012 8:43am Sep 20, 2012 8:43am
Quoting albchr
I agree with levels. Just waiting to see if the noise will produce any spike to get a better price at.
2921 min so far

2916 should come and here I will pay attention as this is the S or whatever that might stop it a bit.
  • #324,653
  • Sep 20, 2012 8:46am Sep 20, 2012 8:46am
Quoting redbeben
2921 min so far

2916 should come and here I will pay attention as this is the S or whatever that might stop it a bit.
Yep, I have 2913... No spike to get a better price though...LOL
Ghost Rider - WWTBMD?
  • #324,654
  • Sep 20, 2012 8:53am Sep 20, 2012 8:53am
dude...

You won’t get much of a pay raise in 2013

hmmmm
it( 627x) 's just a start or ???

Quoting redbeben
I'm afraid that if we go below 1.5864 to be precise we go to 1.5650 as first stop and later 1.5446-5444
not euphoria follower
  • #324,655
  • Sep 20, 2012 9:15am Sep 20, 2012 9:15am
Quoting iqyu5an
dude...

You won’t get much of a pay raise in 2013

hmmmm
it( 627x) 's just a start or ???
start of ?
  • #324,656
  • Sep 20, 2012 9:18am Sep 20, 2012 9:18am
Quoting redbeben
2921 min so far

2916 should come and here I will pay attention as this is the S or whatever that might stop it a bit.
missed by 2 pips but I was not going to long anyway.I'm out of trades toady except for the already locked ones.

have fun

1.2886-2916 is the S area

once below this sh** we go to my TP 1.2835 as min and to be precise 1.2806 is the stop down and good S for now.

so far no sign of reversal of downmove but I might be wrong.
  • #324,657
  • Sep 20, 2012 9:24am Sep 20, 2012 9:24am
AUD signals 1.0432....
entry 1.0378-80 ( 1.0379 the precise entry) SL 1.0373 and tp the one above
  • #324,658
  • Sep 20, 2012 9:35am Sep 20, 2012 9:35am
Quoting redbeben
AUD signals 1.0432....
entry 1.0378-80 ( 1.0379 the precise entry) SL 1.0373 and tp the one above
forget about it.1.0375 as entry but it's tricky as it might eat a 5 pips SL on this long.

I canceled it.
  • #324,659
  • Sep 20, 2012 9:48am Sep 20, 2012 9:48am
well thats a turn around, eu set at BE and gu, currently 20 pips locked.

Remember guys, Merv 'the Swerve' King is giving an oratory this evening on the benefits of sound money management within the united kingdom
  • #324,660
  • Sep 20, 2012 9:49am Sep 20, 2012 9:49am
Quoting redbeben
1.6212 first stop and 1.6225 next one ?

somebody shoot me dead
I give up

1.6227-12 should hold but it is not a guarantee

we might as well see 1.80 by the end of the day
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