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Cable Update (GBPUSD)

  • #342,621
  • Jun 13, 2013 5:25am Jun 13, 2013 5:25am
Quoting Red Alert
{quote} You build good mentality for this business...good luck....

Thanks Red Alert and good luck to you also. I am finding the forum is helping, i am not a trader and no one I know is even the slightest bit interested in this topic which doesn't help. lol

Trying so hard to be disciplined this time, I really want to develop some good habits. I found them so easy to read in books in the past, just putting them into action has been the hard part. Being clueless from time to time doesn't help either lol, safety first has to be my new motto.

Anyhow's my little indicators have just told me to go long gbp/usd again. Got in at 15652.6, looking to target a further 150-200 points but will start to question myself if i am lucky to get a 100 points(set myself a little alert for that area).

Good luck everyone
Safety First
  • #342,622
  • Jun 13, 2013 6:00am Jun 13, 2013 6:00am
Short @ 5680 ... will see how this will turn out. Any close above previous high, I'm out of this trade.
  • #342,623
  • Jun 13, 2013 6:18am Jun 13, 2013 6:18am
Quoting albchr
{quote} I couldn't disagree more with that bro. A large account offers much more opportunity in my book. Mostly because it allows you to be more patient waiting for better (safer) setups that can make you far more money in the end. But there are many more reasons as well. I guess it mostly depends on your end goals. If just building a "nest egg" over time it's one thing. That's easy. If trying to get to a point you can make a living from it, it's another. Not so easy...lol Dude at your age??? If you're that stressed over it, put your money in...

ahhhhhh blood pressure can be genetic in my case it is very likely..
i dont smoke, i hardly drink but i love food and eat a lot of stff which isnt so healthy..but high blood pressure is in my family

remember chris risking 1% of a million is not the same as risking 1% of a pound..
that is why we are told to think in % because its the only way round it..

its definitely isnt the same if it was nobody would be poor..and banks would be absolutely killing it..the equity make a huge difference, definitely a lot of advantages ie flexibility of position.. u can reduce risk to a point yur comfortable to trade

input from other would be interesting
  • #342,624
  • Jun 13, 2013 6:27am Jun 13, 2013 6:27am
Hi nav.... Agree with you....i prefer to set equity at my "comfort size", ....... for me the stress and pressure should be paid accordingly, otherwise put it on palm tree business or other business, just sit down and 20% average per year profit will be in our pocket.....
Blood pressure and strees is also part of every business right ?, the different is the scale and intensity.

Back to cable.... i sold the cable from 1.568xx , just small size....
  • #342,625
  • Jun 13, 2013 6:29am Jun 13, 2013 6:29am
This affair is in its 2nd day.

Get a room guys

Come with me if you want to live....
  • #342,626
  • Jun 13, 2013 6:29am Jun 13, 2013 6:29am
Yes, but I can live on 1% of a million. I can't on 1% of a pound...lol

Same old thing buddy. It takes money to make money. Real simple, my $100 account since August is now roughly $500. A pretty good percentage no?

My 50k DEMO account also started in August is now almost 90k. Far less percentage but I could live on those profits and still grow the account. Not so much on the $500 account.

Both accounts are the same setup. 50:1 standard accounts. The demo would make me a living off far less and safer trades and thus less risk and stress. I had to be pretty aggressive with the real account and that, in my humble book, isn't good....lol

Well, take care of yourself bro. We may need at least another year to get out of these short trades.
Ghost Rider - WWTBMD?
  • #342,627
  • Jun 13, 2013 6:31am Jun 13, 2013 6:31am
Quoting Ill-b-back
This affair is in its 2nd day. Get a room guys
lol...How ya been bro?

Jealousy doesn't suit you.
Ghost Rider - WWTBMD?
  • #342,628
  • Jun 13, 2013 6:36am Jun 13, 2013 6:36am
Quoting albchr
{quote} lol...How ya been bro? Jealousy doesn't suit you.
Good man.
Starting a massage.
Chat after 10.30

Come with me if you want to live....
  • #342,629
  • Jun 13, 2013 6:39am Jun 13, 2013 6:39am
Quoting Ill-b-back
{quote} Dude, just hang out in the news section for a while, there are regular bank analysts (if you can call them that) forecasting future direction. We can revive this contraindicating money machine of yours, I'm sure of it
I have never been there before, but I'll take a look in my spare time (in a market like this we got plenty of spare time).

For this strategy I used two accounts. The smaller one in line with my prediction (which I took seriously), the bigger one in opposite direction. For every transaction in my smaller account, I opened the opposite in my bigger account.

Prior to this I picked the wrong side 8 out 10. If I managed to make it constant, then it would be a useful pattern/strategy.

At the end it made you money and gave you insight and enlightment in the form of antithesis.

Thanks for the hint pal. Now that we are more confindent in our ability to predict the market, we can find such analyst to confirm our position. If they sell we buy.

PS. Maso's could be useful too
Make it simple, but not simpler - Einstein
  • #342,630
  • Jun 13, 2013 6:39am Jun 13, 2013 6:39am
Quoting albchr
Yes, but I can live on 1% of a million. I can't on 1% of a pound...lol Same old thing buddy. It takes money to make money. Real simple, my $100 account since August is now roughly $500. A pretty good percentage no? My 50k DEMO account also started in August is now almost 90k. Far less percentage but I could live on those profits and still grow the account. Not so much on the $500 account. Both accounts are the same setup. 50:1 standard accounts. The demo would make me a living off far less and safer trades and thus less risk and stress. I had to...

lol
  • #342,631
  • Jun 13, 2013 6:39am Jun 13, 2013 6:39am
Quoting Red Alert
Hi nav.... Agree with you....i prefer to set equity at my "comfort size", ....... for me the stress and pressure should be paid accordingly, otherwise put it on palm tree business or other business, just sit down and 20% average per year profit will be in our pocket..... Blood pressure and strees is also part of every business right ?, the different is the scale and intensity. Back to cable.... i sold the cable from 1.568xx , just small size....
well put
  • #342,632
  • Jun 13, 2013 6:43am Jun 13, 2013 6:43am
Quoting Ill-b-back
{quote} I have a similar concept in mind, just my numbers a little different, but no biggie
Numbers prone to change and need an adjustment from time to time. I use pivot(H4) on m5 for precision. But for bigger picture I stick to weekly, monthly and yearly.
Make it simple, but not simpler - Einstein
  • #342,633
  • Jun 13, 2013 6:45am Jun 13, 2013 6:45am
Quoting Maso
{quote} Then, you have found a new replacement
Thanks, pal. I'll consider your offer if I apply the strategy again
Make it simple, but not simpler - Einstein
  • #342,634
  • Edited 7:23am Jun 13, 2013 6:50am | Edited 7:23am
Quoting nAVIN2007
{quote} i love this post..are u a women? i will let u know why i asked once answer
Quoting albchr
{quote} lol...the "Adorable" comment perhaps?
Haha .. adorable .. is it too much? Too feminine? English is not my first language, not even my third. I just want to say, that such mental quality is very useful for a trader like me. Emotionless. Feel no fear, feel no greed, feel no pain, doesn't take it personally. I should envy everyone of this capability.

PS. I never cross a female trader here or in any other forum. Is there any? It would be interesting .. no .. not what you think, I got wife and children
Make it simple, but not simpler - Einstein
  • #342,635
  • Jun 13, 2013 6:52am Jun 13, 2013 6:52am
Quoting smikester
{quote} Do you love it, or adore it? Maybe take care not to upset people when English is not their first language? Google translate comes up with some funny stuff, sometimes.
I don't mind if people correct my language. Honestly, my main purpose of being here is to just hang around and practice my english. Trading issue is just a tool, for trading I get my insight from other sources
Make it simple, but not simpler - Einstein
  • #342,636
  • Edited 7:24am Jun 13, 2013 7:00am | Edited 7:24am
Quoting em01joc
Hey all, Just closed my long trade @ 15681.9. So I have luckily netted 140 points since Friday night, not bad for myself and keeps me in the game for the next trade. The only reason I closed to be honest, was just i was simply a bit lost on the direction of the market!! was indifferent to whether it was going up or down, just thought it had gone a bit stale/stalling. Plus i was so close to my target of 150-200 points, i am trying to learn from past mistakes and took what was there rather than keep risking it all for 10 more pointslol. I...
If you can spot an entry, you should be able to know where or when to exit. Get out when your indicator give you an entry signal. That is the simplest way. But sometime we get the entry signal too late.

I use simple math for early warning. For daytrade I use 120-180 as target of one strike, weekly 200-320 and monthly 600 pips. If the rate get into the zone, I will look for resistance/support (Pivot/R/S, EMA, Fibo, whatever).

Quoting em01joc
Anyhow's my little indicators have just told me to go long gbp/usd again. Got in at 15652.6, looking to target a further 150-200 points but will start to question myself if i am lucky to get a 100 points(set myself a little alert for that area). Good luck everyone
I don't think it will go that far. It is not impossible, but doesn't occur very often. So don't push your luck. You'd better seek for short entry around 1.574.

I think it will make double top, just like down there last month.
Make it simple, but not simpler - Einstein
  • #342,637
  • Jun 13, 2013 7:21am Jun 13, 2013 7:21am
Short @ 1.5675. Will hold to 1.5605 or lower depending on how the rest of the day goes. Targeting 1.5450 ultimately. Good luck all!
  • #342,638
  • Jun 13, 2013 7:41am Jun 13, 2013 7:41am
stupid market. technically and fundamentally GBP must drop but it goes up. come on u f speculators !!!

why dont u go to 1.5800 what are u waiting for?

that type of market makes me really angry
  • #342,639
  • Jun 13, 2013 7:47am Jun 13, 2013 7:47am
its better to wait 1.580 now its clear. its a question of time and we will see 1.5750-1.5800 if not today then tomorow.
  • #342,640
  • Jun 13, 2013 7:50am Jun 13, 2013 7:50am
Quoting Trader88q
stupid market. technically and fundamentally GBP must drop but it goes up. come on u f speculators !!! why dont u go to 1.5800 what are u waiting for? that type of market makes me really angry
Be patience. One at a time. Your turn will come soon. Next week we will see it approaching 1.54. Now the bulls are making stopover and unloading their cargo.
Make it simple, but not simpler - Einstein
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