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Cable Update (GBPUSD)

  • #417,561
  • Jul 24, 2015 3:45am Jul 24, 2015 3:45am
Quoting elbert3
{quote} Hi crazy, i hope you take this as help,and i think other ,well i know traders will think your crazy, i no you are learning and using demo, but your not being honest about your mm, i see that you dont have sl on any trade, lets say one night you go to bed and something happens in the world that will affect the fx, you will have a big hole or nothing in your acc, we have ll been there when i started like you i was on demo i had 3 times taken my acc over 100k , i went live and in 2 weeks lost 6k real money , so i stopped trading and left it...
that's the danger or demo account isn't it mate....one can hardly ever be serious when it is not real...well, at least for me...
when I learn trading, I never at all start from demo...cos I know it is not real and will give me bad habit of doing dangerous thing...
instead i started with like 100 on many occasions...although I blown it many times, but lesson learnt....
  • #417,562
  • Jul 24, 2015 3:48am Jul 24, 2015 3:48am
it made 61.8% of the 5341-5674 but not quite the 61.8% of main 5328-5674 on my charts, also touched the daily rising t/line on my charts ? ... I always wait to see what PA does before making a decision to trade at any level, although I know the levels I may be interested in beforehand.

best wishes.

Quoting elbert3
{quote} {image} in 2 minds , it made my 61% but i like the day tl 5415 for some reason , for a spike and might be a buy 5408,,???sell on the bottom
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it's all gone a bit........
  • #417,563
  • Jul 24, 2015 3:51am Jul 24, 2015 3:51am
can try a long from here...but of price breaks 5455, it will go down to 5380 more or less...
  • #417,564
  • Jul 24, 2015 3:52am Jul 24, 2015 3:52am
Quoting Polaris4dy
{quote} that's the danger or demo account isn't it mate....one can hardly ever be serious when it is not real...well, at least for me... when I learn trading, I never at all start from demo...cos I know it is not real and will give me bad habit of doing dangerous thing... instead i started with like 100 on many occasions...although I blown it many times, but lesson learnt....
Hi P, yes not easy and i think if you want to trade you should start with a grand and dont go crazy with the amount of money you put on a trade , as i posted price was 5650 ish and i said it can go to 5415 and still be in a long trend, so if as they say trend is your friend and you went long at say 5600 thinking trend is your friend, your 100 does not give you enough sl to cope with the move, if that makes sense , but if you had £1 a pip and it went to that 5415 your £1,000 can take it ,then the hard part when it is real money ,fear takes over you lose £100 and then it comes back because your not brave enough to see the trade out, ??
  • #417,565
  • Jul 24, 2015 3:56am Jul 24, 2015 3:56am
Quoting elbert3
{quote} Hi crazy, i hope you take this as help,and i think other ,well i know traders will think your crazy, i no you are learning and using demo, but your not being honest about your mm, i see that you dont have sl on any trade, lets say one night you go to bed and something happens in the world that will affect the fx, you will have a big hole or nothing in your acc, we have ll been there when i started like you i was on demo i had 3 times taken my acc over 100k , i went live and in 2 weeks lost 6k real money , so i stopped trading and left it...

Yep that's right Billy for me too - not fundamentals or technicals - but mindset, self-control and MM. Rgds, AC
  • #417,566
  • Jul 24, 2015 3:59am Jul 24, 2015 3:59am
Quoting elbert3
{quote} Hi P, yes not easy and i think if you want to trade you should start with a grand and dont go crazy with the amount of money you put on a trade , as i posted price was 5650 ish and i said it can go to 5415 and still be in a long trend, so if as they say trend is your friend and you went long at say 5600 thinking trend is your friend, your 100 does not give you enough sl to cope with the move, if that makes sense , but if you had 1 a pip and it went to that 5415 your 1,000 can take it ,then the hard part when it is real money ,fear takes...
yeah mate that's exactly what it is...fear...
lots of emotional problem when it comes to real money...one can have a couple of good months, grow a lot of money..then as account gets bigger, start making stupid mistakes and equity curve goes down again like a reversal pattern...lol
anyway, I'm sure lots of traders here, new or experienced have lots to learn from you mate...keep posting!
  • #417,567
  • Jul 24, 2015 3:59am Jul 24, 2015 3:59am
Quoting petetong
it made 61.8% of the 5341-5674 but not quite the 61.8% of main 5328-5674 on my charts, also touched the daily rising t/line on my charts ? ... I always wait to see what PA does before making a decision to trade at any level, although I know the levels I may be interested in beforehand. best wishes. {quote} {image}
email from broker , but anybody reading this it is only their opinion , i have other trading pairs opinions if you want to see them




GBPUSD and EURGBP

BNP Paribas: [Retail sales] data breaks the theme that we had in sterling in the last few weeks of upside surprises, in particular rates expectation on the back of rhetoric from Bank of England officials. ] Given that weve seen the big move in rate expectations and a rally in sterling in the last couple of weeks, [weak retail sales data] kind of set the market up to unwind some of that move.

LCG: GBPUSD has fallen back to the 1.55 mark again as the unexpected contraction in June retail sales pushed the BoE hawks sideways. Talk of Nikkei buying FT for 844 mn should give support to the pair at 1.5460 (Fib 61.8% retrace on Jul 8 Jul 14 hike) before 1.5408 (200d MA) for a re-test of 1.5670/75 monthly resistance).

GBPUSD
Market price 1.5478
Bullish above 1.5460
Preferred case: bullish with support at 1.5460, rise expected to 1.5585 before 1.5610 max 1.5675.
Alternative case: if 1.5660 broken in pre-signal and 1.5650 in confirmation, drop to 1.5410.
  • #417,568
  • Jul 24, 2015 4:00am Jul 24, 2015 4:00am
Quoting elbert3
{quote} email from broker , but anybody reading this it is only their opinion , i have other trading pairs opinions if you want to see them GBPUSD and EURGBP BNP Paribas: [Retail sales] data breaks the theme that we had in sterling in the last few weeks of upside surprises, in particular rates expectation on the back of rhetoric from Bank of England officials. ] Given that weve seen the big move in rate expectations and a rally in sterling in the last couple of weeks, [weak retail sales data] kind of set the market up to unwind some of that move....
thanks for this mate! my bias happens to be similar to this...will take a small trade for long with tight stop...green pips mate!
  • #417,569
  • Jul 24, 2015 4:03am Jul 24, 2015 4:03am
Quoting Polaris4dy
{quote} yeah mate that's exactly what it is...fear... lots of emotional problem when it comes to real money...one can have a couple of good months, grow a lot of money..then as account gets bigger, start making stupid mistakes and equity curve goes down again like a reversal pattern...lol anyway, I'm sure lots of traders here, new or experienced have lots to learn from you mate...keep posting!
thanks but i am not that experienced , there are far more better traders here , i am just a spammer lol , i think i post toooo much but i enjoy it ,
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  • #417,570
  • Jul 24, 2015 4:11am Jul 24, 2015 4:11am
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  • #417,571
  • Jul 24, 2015 4:19am Jul 24, 2015 4:19am
Quoting elbert3
{quote} Hi crazy, i hope you take this as help,and i think other ,well i know traders will think your crazy, i no you are learning and using demo, but your not being honest about your mm, i see that you dont have sl on any trade, lets say one night you go to bed and something happens in the world that will affect the fx, you will have a big hole or nothing in your acc, we have ll been there when i started like you i was on demo i had 3 times taken my acc over 100k , i went live and in 2 weeks lost 6k real money , so i stopped trading and left it...
i really appreciate the input... thx... ;]
forex... like it, trade it and manage it... get your profit...!!!
  • #417,572
  • Jul 24, 2015 5:02am Jul 24, 2015 5:02am
Quoting Algorerythmn
{quote} As in Settings which settings as there are numerous and usually it is best used as a guide to other factors of a system. If i can help you then just let me know.
Could you send me your settings?
Enter Signature
  • #417,573
  • Jul 24, 2015 5:27am Jul 24, 2015 5:27am
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  • #417,574
  • Edited 5:52am Jul 24, 2015 5:36am | Edited 5:52am
The fall from yesterday's hi has certainly put a dent into the overall bullish scenario that was beginning to emerge. Almost 61.8% of the recent 5328-5674 at the current low was reached. Today's daily candle close will likely see a fractal swing hi formed on the daily t/f making it a tripe top on that t/f, like the 4hr. Price has held up off the low after a retest of the now former 1hr swing lo zone that has formed at it. That 61.8% fib and the former 4hr/daily swing lo zone down to 5449, and daily rising t/line remain the 1st obstacle for the bears to push further south. Price trades between that former 1hr swing lo and the 50% fib of the last main 1hr swing down...that's the immediate/most proximate support/resistance.

best wishes.
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it's all gone a bit........
  • #417,575
  • Jul 24, 2015 8:44am Jul 24, 2015 8:44am
sell order 5506 10 pip sl 3 pips away
  • #417,576
  • Jul 24, 2015 8:56am Jul 24, 2015 8:56am
mmmm???
  • #417,577
  • Jul 24, 2015 8:58am Jul 24, 2015 8:58am
Quoting elbert3
mmmm???
news coming out mate, let's see if it gives any spike to fade...
  • #417,578
  • Jul 24, 2015 9:11am Jul 24, 2015 9:11am
Quoting Polaris4dy
{quote} news coming out mate, let's see if it gives any spike to fade...
might be in the wrong trade here
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took the test breakout
  • #417,579
  • Jul 24, 2015 9:13am Jul 24, 2015 9:13am
Quoting elbert3
{quote} might be in the wrong trade here {image} took the test breakout
you shorted yeah mate? As long as it didn't break 5455 area I will keep my long though...
big picture it may have another big swing up to 1.60-1.61 area...zoom out my daily chart and it looks quite neat
  • #417,580
  • Jul 24, 2015 9:40am Jul 24, 2015 9:40am
Quoting elbert3
{quote} might be in the wrong trade here {image} took the test breakout
so your broker was rite. It found a bid at 5460 due to nikkei-ft deal
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