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Cable Update (GBPUSD)

  • #359,421
  • Jan 20, 2014 11:22am Jan 20, 2014 11:22am
Quoting GlobalMacro
Still bullish....just a spike down. Looking to buy: BUY LIMIT : 1.6349 S / L : 1.6287 T / P : OPEN
- PA hugging new year DTL

- Attempts to break the flag were averted today
and resulted in somewhat larger flag

- All in all encouraging to the bulls.

Long trade in force with parameters unchanged:

LONG @ 1.6349

S / L : TRAILING

T / P : 1.6369

Cable now 1.6430 Today's High: 1.6452

P&L : +81 pips


GBP/USD - H8
Attached Image
Hear the music before the song is over ...
  • #359,422
  • Jan 20, 2014 11:37am Jan 20, 2014 11:37am
buy 15lot 422 sl405 tp?
With a good book and quality paper you can fine wipe your ass.
  • #359,423
  • Jan 20, 2014 11:53am Jan 20, 2014 11:53am
pretty dead today, been trying to buy at 6415 but haven't filled, gonna move my bids down to 6402 and see if asia fills me, risk 6394, try for 6462...laterz..
Look Sharp/Trade Tight
  • #359,424
  • Jan 20, 2014 12:00pm Jan 20, 2014 12:00pm
Quoting Suffo
buy 15lot 422 sl405 tp?
closed BE
With a good book and quality paper you can fine wipe your ass.
  • #359,425
  • Jan 20, 2014 12:32pm Jan 20, 2014 12:32pm
sell 15lot 428 sl440 tp?
With a good book and quality paper you can fine wipe your ass.
  • #359,426
  • Jan 20, 2014 12:37pm Jan 20, 2014 12:37pm
Quoting sakisf
{quote} Are you a follower of Al Brooks?
No have not heard of him
  • #359,427
  • Edited 1:00pm Jan 20, 2014 12:44pm | Edited 1:00pm
hi guys
all my shorts are in profit except 1
Price is consolidating for a break out.Lots of News on weds and we may see no real moves until then.I may exit my shorts if price drops further since weds news could be positive.
Price is bullish in terms of higher TF so yes I am a bear in a up trend.
you could put a simple box to enclose 6450 and lower candles and simply trade the breakout.Not guarantee for fakes .Richard Donchian one of my fave traders ever used this simple technique.He made millions.
Attached Image (click to enlarge)
Click to Enlarge Name: gbpusd.h1.png Size: 67 KB
In trading, you have to be defensive and aggressive at the same time
  • #359,428
  • Jan 20, 2014 12:57pm Jan 20, 2014 12:57pm
Quoting Suffo
sell 15lot 428 sl440 tp?
closed 431
and good night
With a good book and quality paper you can fine wipe your ass.
  • #359,429
  • Jan 20, 2014 1:07pm Jan 20, 2014 1:07pm
Almost stopped out and i looked too much M15 TF today and a little too much longs opened and my risk increased to ~3.5%. This is not right! No more longs until i cant move up my SL to reduce my risk... or later close some longs for this reason too...

GU M15
Attached Image (click to enlarge)
Click to Enlarge Name: gbpusdxm15.png Size: 68 KB
Anything is math!
  • #359,430
  • Jan 20, 2014 1:18pm Jan 20, 2014 1:18pm
Quoting Kajos2250
Almost stopped out and i looked too much M15 TF today and a little too much longs opened and my risk increased to ~3.5%. This is not right! No more longs until i cant move up my SL to reduce my risk... or later close some longs for this reason too... GU M15 {image}

we are on opposite sides.I have added more shorts closer to 6450 and you added more longs closer in 40's
you are more nervous in UP trend then I am in counter trendI thought 300pips was a noise to you and you are sweating on 10pips....
Did not mean to embarrass you but putting people's comments in context is revealing.Why not hold your longs for a whole week,month since overall trend is up...
Regards
In trading, you have to be defensive and aggressive at the same time
  • #359,431
  • Jan 20, 2014 1:37pm Jan 20, 2014 1:37pm
We are trading now on the hourly and the 4h just over the 200 day moving average.

It will be interesting to see where we go from here. I currently don't have a position though. Will wait for an entry.
  • #359,432
  • Jan 20, 2014 1:54pm Jan 20, 2014 1:54pm
Quoting Davit
{quote} we are on opposite sides.I have added more shorts closer to 6450 and you added more longs closer in 40's you are more nervous in UP trend then I am in counter trendI thought 300pips was a noise to you and you are sweating on 10pips.... REgards
Well recognized. That is why a counter trend trade can be sucsessfull in a noise wave too... But rarely can be more than the noise...
But the 300 pip noise (correction) was a little bit exaggeration usually it is only 200 pip on the GU and one impulse is 5-800 pips on the daily by my analisys...
I have roules that i want to/ have to keep for the long term sucsess so i am sweating because my max loss almost more than could be allowed by my roules on this account.
I am wonder where is your invalidation price for your short!
If i didnt have SL i wouldnt know how much i can lose/win and this is not appropriate startegy for me to keep healthy my acc.

So, which is that price where you could close your loss or profit?
Anything is math!
  • #359,433
  • Edited 2:09pm Jan 20, 2014 1:55pm | Edited 2:09pm
A notable fall is working out in the cable and I see it detonating this week!
  • #359,434
  • Jan 20, 2014 1:58pm Jan 20, 2014 1:58pm
Quoting Kajos2250
{quote} Well recognized. That is why a counter trend trade can be sucsessfull in a noise wave too... But rarely can be more than the noise... But the 300 pip noise (correction) was a little bit exaggeration usually it is only 200 pip on the GU and one impulse is 5-800 pips on the daily by my analisys... I have roules that i want to/ have to keep for the long term sucsess so i am sweating because my max loss almost more than could be allowed by my roules on this account. I am wonder where is your invalidation price for your short! If i didnt have...

MY SL is 6750 2011 high
I trade small in increments and build positions.I only invested 30% of my intended amount.I don't believe in tight SL's number 1 killer of accounts.
In a range situation where we are now you could be stopped out 5times and still be in overall correct direction.
Regards
In trading, you have to be defensive and aggressive at the same time
  • #359,435
  • Jan 20, 2014 2:14pm Jan 20, 2014 2:14pm
Quoting Davit
{quote} MY SL is 6750 2011 high I trade small in increments and build positions.I only invested 30% of my intended amount.I don't believe in tight SL's number 1 killer of accounts. In a range situation where we are now you could be stopped out 5times and still be in overall correct direction. Regards
Do you mean too noise Is that why you have more than 300 pip SL?
In my opinion better to know signals (with confirmation, invalidation and predictable price) than to take positions just because it wont rise forever!

Good luck!
Anything is math!
  • #359,436
  • Jan 20, 2014 2:18pm Jan 20, 2014 2:18pm
Quoting Davit
{quote} In a range situation where we are now you could be stopped out 5times and still be in overall correct direction. Regards
And that makes trading so tough as a novice.
Fix up, trade sharp ...
  • #359,437
  • Jan 20, 2014 2:23pm Jan 20, 2014 2:23pm
Quoting Kajos2250
{quote} Do you mean too noise Is that why you have more than 300 pip SL? In my opinion better to know signals (with confirmation, invalidation and predictable price) than to take positions just because it wont rise forever! Good luck!

I trade on fundamentals.My analyses is GU will see 1.60 before 1.67
I don't think 300pips is noise by any measure.
In trading, you have to be defensive and aggressive at the same time
  • #359,438
  • Jan 20, 2014 2:28pm Jan 20, 2014 2:28pm
Sorry to interrupt but on coming Wednesday there are possibilities to rise at least 100 pips due to unemployment news of UK. Do not you think of that?
  • #359,439
  • Jan 20, 2014 2:28pm Jan 20, 2014 2:28pm
Quoting sakisf
{quote} Are you a follower of Al Brooks?

Never heard of him/her lol
insideBars==boss
  • #359,440
  • Jan 20, 2014 2:30pm Jan 20, 2014 2:30pm
Quoting Hickson
{quote} And that makes trading so tough as a novice.
On thing is sure! If sucsess of your signals 50%, your risk reward ratio is at least 2 and you will not risk more than 2-5% of your account you wont be able to kill your account!
These was the things that made my last year full profitable after 3 consecutive loss years.
These are basic roules for every novice trader!
Or you can grid, martingale and the blowing up your account is sure later or sooner!
Anything is math!
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