Cable Update (GBPUSD)

Are you still short from below 1.6 or did you close it at some point? Whats your target?

no idea but im still short..

not any more ,,lol but i am open to any trade ,6532 now looks like it has closed out any longs now only a bull on the size we have seen today will change this ,so if it gets back to there look to open short trading but need to see whats going on,,e

Do you have a target? This bear move looks like 1.60 could be hit...or lower, who knows. I wouldn't mind this bear trend to be as long as the previous bull trend.

as suggested 5 hours ago upon the break of 6500 barrier , price is aiming for 6460 , consider some support @ that level .

I got short @65836 and I am still not so sure when I need to get out-110% is pretty good deal but I am sitting and thinking: "why not 200%" DARN-that`s brutal.....does anybody can suggest any exit strategy-tnx

Online addict I haven't heard from you days.. well apart from last night when you said something was invalid.... but all of sudden you pop up.... did something occur today... oh that's right you came to tell everyone how right you are... I hope you remember your stance when GU was at 1.71....

It's easy for everyone, select create new account > just type in deposit amount then you are good to go.

For example: $2 billion




PATIENCE

I'm here every day. And you know what? Yes, I was bullish above 1.71, above 1.70 and even above 1.69. You know how much money I lost longing it? None.

When I see statements like " THE GBP WILL CONTINUE TO RISE REGARDLESS OF WHAT TECHNICAL, FUNDAMENTAL OR OTHER ANALYSIS YOU WANT TO PUT IT ON. IT WILL DEFY ALL LOGIC!!!"
I know instinctively that lots of account are about to get blown skyhigh. HDA might be able to survive this to 1.6250 where its going but the lot I pity are the clueless horde that bet the whole fucking farm on his trade call hoping to retire in the Caribbean with lovely bikini clad chicks giving them heavenly head while smoking the good joint.

Pay your dues, learn how to trade, formulate your own unique trade method that is peculiar to you and only you taking into account your strengths and weaknesses. This process takes years. No free lunch anywhere bro.

To all the disciples, I hope you have this on presently

maybe the volatility days have returned for GU ? and this might continue...

HI Hoom you have had some good calls , i am going long here 6468 scalping up again sl at 59 ,,neck on the line again i dont have to post the trade but lets see if 460 holds this time i think this is the 6th support line, 130 odd pips down on the day has to be some legs on this one

I have a question. When price touch 62500 can down more without a strong retrace? Or that is impossible?

Albchr
If you have had to overcome personal issues, that could obviously develop a high level of resilience and a never quit attitude. And if you don't have the capital initially to open a larger account, then the smart play is micro trading. Money management? you could develop this with a small account size and any newbie should use a mini account when starting out, really the entire first year of trading.

As you probably understand, inevitably for most people (not all) the one part of FX trading that tends to trip people up is controlling ones emotions. The psychological factor of potentially losing or winning $1000 or more if your make a mistake is tough for many to deal with. It is not your system, whether you are a longer term or intraday, whether you scalp or martingale. It is controlling your emotions and following your rules you have developed based on experience. I chose intraday because it is the easiest for me to handle psychologically. I don't hold trades overnight or over the weekend. Why? because I tend to worry about them. Intraday trades allow me to set and forget and the trade is generally done within an hour. This fits my mentality better. I am happier because of it.

Generally speaking, traders who trade very small are either new to the game and are learning, or treat FX as a hobby with a goal to make $30 per week. No harm here. $30 per week beats bank interest rates. But understand, there is no psychological pressure when entering a .05 lot size position. If you lose, you lost a round of drinks at most, and this allows people to make frivolous decisions without a real penalty. FOR MOST...not all...this type of trading is difficult to use to eventually extrapolate to higher lots because the amount of money on the line is much different...and therefore it is more difficult to control emotions. My commission for a 5.0 lot is $75 per trade, so if I break even I am out $75, This ups the emotional anty. Experiencing a week of trading at this level, is much different than trading at a .05 level and take some getting use to.

But I guess it comes down to a person's goals. Honestly if my US bank would pay me a legit interest rate on my deposit (5 to 7%) I probably wouldn't be doing this shit. But interest rates in the US will never return to normal levels, they can't the system would implode.

So how do us little people get ahead? We attempt to learn a little known or understood skillset like trading FX. My ultimate goal is to make 2 to 5K a week trading currencies. With this I could quit my job. For me to accomplish this, I must up the anty and trade without emotions.

Albchr, the part that pisses me off about FF threads..... newbies with no experience read these threads because they don't know where else to go for experience/information. Then they read these asinine posts like "buying at 1.6550" by some demo trader or 0.01 trader whose impetus for the trade is ...um I think it is going up and the newbies think this is the way it is done.

Your response might be well who the hell would go to FF looking for answers on how to get started...well apparently a lot of people.

My trading group is on vacation though next week. After vacation I will return to their live room and may not be back much to FF. But I want to let everybody know that this game can be mastered and improve your financial position, but it can't be done overnight. I would estimate a minimum of 2 years is required to start to make a decent return. Again that is not for everyone, it took me longer.

Cheers and have a great week!

It can do, anything is possible.............may have better idea about what may happen whence it gets near there...........like for now, notice it closed above 1.6464..........


may long to 1.6496..........and then more down to around 1.6421..........

I suspect that they want to make the nfp boring

Well said .....

Just read this news: GBP/USD is trading at 1.6588, down -0.12% on the day, having posted a daily high at 1.6617 and low at 1.6578. GBP/USD has dropped further with a decent move.
Check this out here: http://www.fxstreet.com/news/forex-n...8-2df58fa11653

Nice post ,and your right i started 6 years ago just to dabble opened a large acc after 3 months of reading learning youtube ,anything went live 2 weeks lost 6k,and one other thing,you open a demo acc you then get the phone calls promising support ,how much support did i get zero,so i took the rest of the money out and stopped trading ,i knew i was out off my depth.
last August i stood down from by business and just became the chair,,so nothing to do back to learning fx,Nov 2013 opened a £ 20k acc with capital,,shit myself as the reality of the past loss was on me,, for me ad dont take me as bragging its not about the money its about the game .started off ok balls grow to big and then a few wins biggest one off 8K,THEN MM WENT OUT THE WINDOW.acc went 20k 38k to 14k in a few months , i was going to pull out ,2 traders here know this story and i hold them to confidentiality . i have been doing very well back over my start up,but today i have questioned my trading.if you look at sundays post i was based long hoping for a trend change ,but i posted below the day chart low we will look to 6250 ,,even if it does not go to 625,,the problem i know have is that i did not do what i planed ,i stuck to the trade and then pulled them at a later stage ,yes it cost me money but the pros know why i now question what i did not do, ??? i have been kicking the shit out of myself all day , i hate to lose, i know there are traders here that have done the same,but by now their acc is blown,yes you might say they follow HDA because of his past record,but HDA always states ,,trade you own trade,,regards HDA, for using you as the sample,,,,,so even after a 10 month live acc that one time was nearly 100% ie 40k,i now doubt my physiology,so with this in mind i might stop trading ,?? i enjoy this thread and some of the traders in it ,thats my story i hope it helps newbies ,regards E

if you want to look at big tc,the monthly has to get past the 50 and the 200 is it a big ask,,,i think so,hoom said on his post 5460 was big support this is why ,,if this is wrong then this will be some of my last charts posted