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Cable Update (GBPUSD)

  • #349,961
  • Oct 23, 2013 2:31am Oct 23, 2013 2:31am
Ok my stops were taken leaving me with some hefty profit, account doubled. I'm gonna go in long again here with 1.6118 stop. It's not looking good at this point but after reviewing my studies I see there's a chance for more upside.
Founder of Sutherland Wave Principle
  • #349,962
  • Oct 23, 2013 2:32am Oct 23, 2013 2:32am
Quoting ninjafx
{quote} The bullish outlook on the gbpusd was great, thou should you look at higher timeframe charts, notice that there was an underlying resistance zone which might have something to do with the selling of this pair. Again traders might want to look at higher timeframe charts, a big opportunity for position traders.
Doesn't matter, I usually don't trade long term, if I can get a 100 pips on GU going south I'm happy and maybe we are at the bottom of south right now so I'm gonna take profit for 101 pips.
New voice message: Why are you calling me? If I need you, I'll call you!
  • #349,963
  • Oct 23, 2013 2:36am Oct 23, 2013 2:36am
Quoting suthmo
Ok my stops were taken leaving me with some hefty profit, account doubled. I'm gonna go in long again here with 1.6118 stop. It's not looking good at this point but after reviewing my studies I see there's a chance for more upside.

are u trading on a demo?
  • #349,964
  • Oct 23, 2013 2:38am Oct 23, 2013 2:38am
Quoting nAVIN2007
{quote} are u trading on a demo?
I am
Founder of Sutherland Wave Principle
  • #349,965
  • Oct 23, 2013 2:40am Oct 23, 2013 2:40am
Quoting suthmo
I am

try yur best to keep the demo running trades just as u would if the platform was live..account management is very impt..if u dont make the necessary mm changes u will blow yur live account..

good luck
  • #349,966
  • Oct 23, 2013 2:42am Oct 23, 2013 2:42am
0-0-9 and 0-0-9 are the last votes on Uk Boe Mpc re rate and Qe...any change in this could cause movement- ie any Qe vote change could most likely see downside knee-jerk reaction....and any change in rate vote could most likely see upside knee-jerk reaction ? Votes staying the same (most likely scenario)or a change in both - who knows ?

It is data so anything can happen...or nothing (lol !)
---------------------------
....price has retraced 76.4% of yesterday's lo - today's current hi 6114-6256....nice downside follow thru on last 1hr close - the bearish thrust.

G/L
ex member
  • #349,967
  • Oct 23, 2013 2:44am Oct 23, 2013 2:44am
Quoting suthmo
{quote} I am
nAVIN is right, but a better idea that worked for me is open an OANDA live account, you can trade there for $0.01 per pip.
Your losses will be very small but at least you will feel the pain of losing real money!
New voice message: Why are you calling me? If I need you, I'll call you!
  • #349,968
  • Oct 23, 2013 2:44am Oct 23, 2013 2:44am
Quoting bbmac
0-0-9 and 0-0-9 are the last votes on Uk Boe Mpc re rate and Qe...any change in this could cause movement- ie any Qe vote change could most likely see downside knee-jerk reaction....and any change in rate vote could most likely see upside knee-jerk reaction ? Votes staying the same or a change in both - who knows ? It is data so anything can happen...or nothing (lol !) --------------------------- ....price has retraced 76.4% of yesterday's lo - today's current hi 6114-6256....nice downside follow thru on last 1hr close - the bearish thrust. G/L

everytime this gets released the pound flies
  • #349,969
  • Oct 23, 2013 2:49am Oct 23, 2013 2:49am
Quoting bbmac
0-0-9 and 0-0-9 are the last votes on Uk Boe Mpc re rate and Qe...any change in this could cause movement- ie any Qe vote change could most likely see downside knee-jerk reaction....and any change in rate vote could most likely see upside knee-jerk reaction ? Votes staying the same (most likely scenario)or a change in both - who knows ? It is data so anything can happen...or nothing (lol !) --------------------------- ....price has retraced 76.4% of yesterday's lo - today's current hi 6114-6256....nice downside follow thru on last 1hr close - the...
I don't expect any change 0-0-9
New voice message: Why are you calling me? If I need you, I'll call you!
  • #349,970
  • Oct 23, 2013 2:49am Oct 23, 2013 2:49am
Quoting nAVIN2007
{quote} everytime this gets released the pound flies

yes it does and today is a crazy day and won't be surprised if something crazy happens
  • #349,971
  • Oct 23, 2013 2:50am Oct 23, 2013 2:50am
I collected on shorts an have a small long now 1 pip in profit, tight stop
New voice message: Why are you calling me? If I need you, I'll call you!
  • #349,972
  • Oct 23, 2013 2:54am Oct 23, 2013 2:54am
Quoting nAVIN2007
{quote} try yur best to keep the demo running trades just as u would if the platform was live..account management is very impt..if u dont make the necessary mm changes u will blow yur live account.. good luck
This is the thing, my research and forecasting are phenomenal. But my trading is still not gud. When I trade live I get greedy, I get scared and start messing up. I'll watch the chart go up and down and not focus on the technical / research stuff. I'm waiting for the time when I can apply the emotionless demo trading attitude to my live account. Controlling the temptation to trade every day vs staying out until things are clear. There's about 30 MM and safety rules u have to balance at all times. Trading successfully is an exercise in self control that has so far eluded me.
Founder of Sutherland Wave Principle
  • #349,973
  • Oct 23, 2013 2:54am Oct 23, 2013 2:54am
lol...re Friday's Uk Q3 Gdp prelim - anything at 0.8% or higher and it could be hasta la vista baby to a lot of short positions , conversely anything deemed as weak and the bears will be breathing sighs of relief (most likely scenarios) - again it's data so anything or nothing can happen.

G/L

Quoting nAVIN2007
{quote} everytime this gets released the pound flies
ex member
  • #349,974
  • Oct 23, 2013 2:55am Oct 23, 2013 2:55am
Quoting giveachance
{quote} yes it does and today is a crazy day and won't be surprised if something crazy happens

I always go with technicals..it would be absolutely crazy for this thing to break the top unless it indicates a rate increase
  • #349,975
  • Oct 23, 2013 2:55am Oct 23, 2013 2:55am
Quoting ninjafx
{quote} The bullish outlook on the gbpusd was great, thou should you look at higher timeframe charts, notice that there was an underlying resistance zone which might have something to do with the selling of this pair. Again traders might want to look at higher timeframe charts, a big opportunity for position traders.
That view is correct, but in my strategy i'm looking to grab 20-25 pips /day using advanced money managament system.
Though if trying to take more then that - swing trade - I would look more for shorts.
Price Action + KISS + PIE = Forex-Entourage
  • #349,976
  • Oct 23, 2013 2:55am Oct 23, 2013 2:55am
the US dollar needs to be supported fundamentally for us to see a more downside move on the cable.
if price breaks through 6115,we can expect more downside movement and the next level to
watch for support should be 5950.
but for now,lets see what the US data has in store
  • #349,977
  • Oct 23, 2013 2:58am Oct 23, 2013 2:58am
Quoting bbmac
lol...re Friday's Uk Q3 Gdp prelim - anything at 0.8% or higher and it could be hasta la vista baby to a lot of short positions , conversely anything deemed as weak and the bears will be breathing sighs of relief (most likely scenarios) - again it's data so anything or nothing can happen. G/L {quote}

  • #349,978
  • Oct 23, 2013 2:59am Oct 23, 2013 2:59am
Quoting suthmo
{quote} This is the thing, my research and forecasting are phenomenal. But my trading is still not gud. When I trade live I get greedy, I get scared and start messing up. I'll watch the chart go up and down and not focus on the technical / research stuff. I'm waiting for the time when I can apply the emotionless demo trading attitude to my live account. Controlling the temptation to trade every day vs staying out until things are clear. There's about 30 MM and safety rules u have to balance at all times. Trading successfully is an exercise in self...
Time & experience. You have to get comfortable with losing before you can be a continuous winner.
Money Makes Money
  • #349,979
  • Oct 23, 2013 2:59am Oct 23, 2013 2:59am
It seems that yesterday upward move was very very speculative and everybody is waiting at the same place for today news. On EURUSD the situation isn't look so bad as on GBPUSD. Also bad there's on AUSSIE, although news for AUD was so good.
We can see that the run for USD has begin. BUT

Because I can still see uptrend on MY ONLY H4 chart i begin to taking long (and occasionally covering my shorts).
Waiting for news. Half hour left.
G/L
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  • #349,980
  • Oct 23, 2013 3:00am Oct 23, 2013 3:00am
Quoting pipsane
{quote} That view is correct, but in my strategy i'm looking to grab 20-25 pips /day using advanced money managament system. Though if trying to take more then that - swing trade - I would look more for shorts.
20-25 pips a day strategy
over how many trades..what is the system u are using?
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