Cable Update (GBPUSD)
- #411,802
- Mar 18, 2015 2:27pm Mar 18, 2015 2:27pm
- Joined Apr 2010 | Status: Today is my first trading day! | 9,452 Posts
While it is true that it takes a lot of courage to open long positions in a strong downtrend, I think it takes even more patience to leave the TP open on long positions going against the trend. There aren't too many days out of the year that produce 500+ pips, let alone in a counter-trend scenario. I made money, but got out way too early thinking that the shorts would push the market back down to the range area during this high-impact news event. Kudos to those who were much more patient and victorious.
well by my side ... i was looking to buy cable because my study was telling me the 1.46 area is an interesting buy area considering the straight move down coming from 1.55 (well, from 1.70).
The plan in my mind was to see if possible hold the trade to 1.55 eventually adding something near 1.49 or 1.50 in case of continuation in next weeks. And I was prepared to suffer a downside to at least 1.43-44 area.... where eventually add or take short opp ... you know.. trading.
This said, i only have to admit that all the remaining part, is just a pure random fact! Not even luck or unluck. It's just something that never happens!! I scaled out the trade where i considered it a good level. that level is now about 150pips lower! Who could expect such a gigantic move? Nobody.
And luckily you took out in profits... i cannot even imagine the devastation caused by such a move today in a lot of retail accounts!
Summarizing: trading means also that market can fuck you out for huge pips in no time. No matter techs, studies, ideas, levels. Like it or not.
90% of traders use TA, indicators and prediction
- #411,803
- Mar 18, 2015 2:33pm Mar 18, 2015 2:33pm
- Joined Jul 2011 | Status: Gold Again | 10,565 Posts
{quote} OOPSS!!!!Anyway, got in at 1.5045 and aiming for 1.4550. this North surge is a trap!
It takes a lot for me to IGNORE you, but you can try.
- #411,811
- Mar 18, 2015 3:29pm Mar 18, 2015 3:29pm
- Joined Jan 2010 | Status: The Voodoo Boodoo Club | 42,051 Posts
{quote} could test 5520 and then fall back ,
- #411,812
- Mar 18, 2015 4:35pm Mar 18, 2015 4:35pm
- | Commercial User | Joined Apr 2013 | 4,366 Posts
{quote} you're probably not the only one
Bwahahahahahahaha. Nice job Erebus :-)
- #411,814
- Mar 18, 2015 6:38pm Mar 18, 2015 6:38pm
- Joined Aug 2009 | Status: Just trade it! | 1,230 Posts
long 4761...
maybe try short 5085 area 
Money is made by sitting, not trading. Jesse L. Livermore
- #411,818
- Mar 18, 2015 10:46pm Mar 18, 2015 10:46pm
- Joined May 2011 | Status: Get to the Chopper | 17,905 Posts
{quote} Well the eur did go to 078 in a big way lol regards
Weirdest Cable day I seen in, well, ever.
464 pip 4hr candle lol...
Old Grandma CAN move the markets after all
Just need to close this week below 4912 to keep on keeping on down
Come with me if you want to live....
- #411,819
- Mar 18, 2015 10:56pm Mar 18, 2015 10:56pm
- Joined May 2011 | Status: Get to the Chopper | 17,905 Posts
Come with me if you want to live....
- #411,820
- Edited 11:31pm Mar 18, 2015 10:58pm | Edited 11:31pm
- Joined Mar 2008 | Status: Name real with real own way | 23,413 Posts
Not understand?better not follow my analyses!doubt clearer first, risks ++