In trading, you have to be defensive and aggressive at the same time
Cable Update (GBPUSD)
- #346,662
- Sep 10, 2013 11:08am Sep 10, 2013 11:08am
- Joined Dec 2007 | Status: mac daddy junior :) | 20,899 Posts
{quote} Sir NAV - This is confusing to me.. If your BE is above 1.60 - then why aiming lower? All I can think of, is that you have multiples long as well as multiple shorts? Regards
i rather it falls because my longer term direction is up..but i tried to be cute selling as well
hence the headache Mr T
- #346,664
- Sep 10, 2013 11:10am Sep 10, 2013 11:10am
- | Joined Feb 2012 | Status: Trader | 1,207 Posts
added another limit short at 5750 then will be hands off.over 70% short on GU on Oanda which does not make me happy.Market makers love fking up retail traders.
I have been watching 1.5750 for weeks and weeks, much like everyone else I assume...
This is the problem, I would think the market makers know this is such an obvious short entry that they may do one of 2 things. a) price drops from here, therefore not triggering all the sell orders sitting sround 1.5750... or b) they could push price up 50/100 pips triggering entries AND stops, then when all retailers assume price heading for 1.6 and go long, market plummets 500 or so pips killing all the newly opened long positions...
The joys of trading
- #346,665
- Sep 10, 2013 11:15am Sep 10, 2013 11:15am
- Joined Feb 2012 | Status: Trader | 21,377 Posts
In trading, you have to be defensive and aggressive at the same time
- #346,666
- Sep 10, 2013 11:21am Sep 10, 2013 11:21am
- Joined Feb 2012 | Status: Trader | 21,377 Posts
In trading, you have to be defensive and aggressive at the same time
- #346,668
- Sep 10, 2013 11:34am Sep 10, 2013 11:34am
- Joined Jul 2011 | Status: Lord Of War | 1,853 Posts
ill start adding shorts between those 2 lines..SL 1.5850 area 
lets see where she wants to go..
lets see where she wants to go..
Early to bed, early to rise, keeps you healthy, wealthy and wise.
- #346,669
- Sep 10, 2013 11:40am Sep 10, 2013 11:40am
- Joined Feb 2012 | Status: Trader | 21,377 Posts
ill start adding shorts between those 2 lines..SL 1.5850 area
your chart looks like my brain when drunk
j/k
In trading, you have to be defensive and aggressive at the same time
- #346,670
- Sep 10, 2013 11:42am Sep 10, 2013 11:42am
- Joined Jan 2009 | Status: Per Aspera Ad Astra | 6,262 Posts
{quote} i have majority short..i need 1.53 at least on my short to get out of trouble but i have a long at 1.58 which i held for god only knows how long
Ah - OK. Now a lot clearer. Yip - a tough one to manage - but you have been around the block a few times....
Take care
Regards
- #346,672
- Sep 10, 2013 11:49am Sep 10, 2013 11:49am
- Joined Feb 2012 | Status: Trader | 21,377 Posts
In trading, you have to be defensive and aggressive at the same time
- #346,673
- Sep 10, 2013 11:50am Sep 10, 2013 11:50am
- Joined Jul 2011 | Status: Lord Of War | 1,853 Posts
{quote} your chart looks like my brain when drunk
seems like usdx wants to go further down..daily close ( USDX) under 81.87 will take dollar to 81.48 and it should mean to gbpusd - 1.5800 area.eurusd 1.3325 or something around that.
Early to bed, early to rise, keeps you healthy, wealthy and wise.
- #346,674
- Sep 10, 2013 11:56am Sep 10, 2013 11:56am
- Joined Feb 2012 | Status: Trader | 21,377 Posts
{quote} lol ... good
Hi Egshack (funny name
)What I have been reading on Ichimoku indicator that its most effective on Asian currencies and less so outside that.Kind self fulfilling since more Asians are using it.I thought to share this info.
In trading, you have to be defensive and aggressive at the same time
- #346,675
- Sep 10, 2013 11:57am Sep 10, 2013 11:57am
- Joined Dec 2009 | Status: The New Legend™ | 4,846 Posts
Always looking the GREAT, never left GOOD Point...
- #346,676
- Sep 10, 2013 12:00pm Sep 10, 2013 12:00pm
- Joined Jul 2011 | Status: Lord Of War | 1,853 Posts
{quote} Hi Egshack (funny name
..fun name for sure Early to bed, early to rise, keeps you healthy, wealthy and wise.
- #346,677
- Sep 10, 2013 12:03pm Sep 10, 2013 12:03pm
- Joined Dec 2007 | Status: mac daddy junior :) | 20,899 Posts
{quote} Hi friend I developed trading system that overcomes this by averaging my orders.Very high top I place .50 and rest .25 lot.Its not pyramiding which is suicidal but averaging your intended amount in multiples entries. This is standard way Banks and Hedge funds operate. They never place all their orders at once. I trade without SL.My SL is the amount I am willing to lose and once reached I'll take the loss.This protects me from spikes which often traders fall victim. Regards
thats what i do as well
or least i think i do
anyways..nice charts u deserve a vouch as u can obviously trade well
btw i just seen ff have removed the vouch button
or is it me?
- #346,678
- Sep 10, 2013 12:12pm Sep 10, 2013 12:12pm
- Joined Feb 2012 | Status: Trader | 21,377 Posts
{quote} thats what i do as well
Thanks Navin for the vouch.
Please don't give me a vouch.I feel overburdened by them.I am still learning to trade.I guess its a ongoing job training that never ends.
Regards
Guys for fun place this S/R indicator on your charts and observe how accurately it draws the levels.I have found nothing as good as this.I can draw them manually as well but having indi "think" along same levels is nice.
In trading, you have to be defensive and aggressive at the same time
- #346,679
- Sep 10, 2013 12:38pm Sep 10, 2013 12:38pm
- Joined Dec 2009 | Status: The New Legend™ | 4,846 Posts
{quote} thats what i do as well
And then in "Member Wall's" by Click Two Persons icon, automatic will withdrawal your V
I've got experienced with this
Always looking the GREAT, never left GOOD Point...
