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Cable Update (GBPUSD)

  • #429,521
  • Apr 26, 2016 8:17am Apr 26, 2016 8:17am
IMHO, 1.4670 is the next stop for GBPUSD
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  • #429,522
  • Apr 26, 2016 8:25am Apr 26, 2016 8:25am
Quoting HaLBot
{quote} yes thats happened a lot in the past but my tradings getting better and generally I look for retraces to S/Rs and PP to eliminate the -30 pip happening, then I place a tight stop. Instead of a stop I'll hedge the trade sometimes but you can really get yourself into a lot of trouble hedging, it can ad multiple levels of decision making into a trade..... If you do find yourself down 30 pips and you don't want to exit the trade you just got a bit of work ahead LOL
​if you make 30 a day consistently - your looking at 20% a month - and also a lot of job offers and money being thrown at you... 150k a year min just of a salary
  • #429,523
  • Apr 26, 2016 8:28am Apr 26, 2016 8:28am
Looking to close trade at 146 450 - target aim at R3.
  • #429,524
  • Apr 26, 2016 8:33am Apr 26, 2016 8:33am
Quoting Don96
{quote} ​if you make 30 a day consistently - your looking at 20% a month - and also a lot of job offers and money being thrown at you... 150k a year min just of a salary

Yep that's right, all though I've heard it for years only recently did I truly understand the term 'Consistent Profits' and maybe one day I could go and work for a trading house, that or become a cat walk supermodel
Don't Leave Money on the Table
  • #429,525
  • Apr 26, 2016 8:34am Apr 26, 2016 8:34am
Quoting HaLBot
{quote} yes thats happened a lot in the past but my tradings getting better and generally I look for retraces to S/Rs and PP to eliminate the -30 pip happening, then I place a tight stop. Instead of a stop I'll hedge the trade sometimes but you can really get yourself into a lot of trouble hedging, it can ad multiple levels of decision making into a trade..... If you do find yourself down 30 pips and you don't want to exit the trade you just got a bit of work ahead LOL
Right so your not making pips daily just to clarify your trying too - makes sense now.
  • #429,526
  • Apr 26, 2016 8:43am Apr 26, 2016 8:43am
Quoting dean1star
{quote} Right so your not making pips daily just to clarify your trying too - makes sense now.
I'm not bullshitting you, since the 13th of this month I've totally changed my outlook on FX trading and attempting to make 30 pips per session, it may be one trade or two or three but dedicated to making consistent profits, it's not easy and I've stuffed around a lot in FX but there has to be a reward for all the time spent trading.....
Don't Leave Money on the Table
  • #429,527
  • Apr 26, 2016 8:46am Apr 26, 2016 8:46am
Quoting HaLBot
{quote} I'm not bullshitting you, since the 13th of this month I've totally changed my outlook on FX trading and attempting to make 30 pips per session, it may be one trade or two or three but dedicated to making consistent profits, it's not easy and I've stuffed around a lot in FX but there has to be a reward for all the time spent trading.....
I'm just telling you, if you make 30 pips a day - youll have more money than you've thought of, end of - and theres a reason for that, its extremely hard/more or less impossible... 20% a month is more than achievable with high levels of risk... but then that's another situation
  • #429,528
  • Apr 26, 2016 8:47am Apr 26, 2016 8:47am
Quoting HaLBot
{quote} I'm not bullshitting you, since the 13th of this month I've totally changed my outlook on FX trading and attempting to make 30 pips per session, it may be one trade or two or three but dedicated to making consistent profits, it's not easy and I've stuffed around a lot in FX but there has to be a reward for all the time spent trading.....
HalBot
Stick to your GOAL and follow your plan which you think is giving results.
  • #429,529
  • Apr 26, 2016 8:48am Apr 26, 2016 8:48am
Quoting Don96
{quote} ​swing drawn isn't the clearest for me but 1.4572 may be good for some shorts perhaps/1.4618x
1.4631 was important fib level on micro swing... /1.4648
  • #429,530
  • Apr 26, 2016 8:52am Apr 26, 2016 8:52am
Quoting Don96
{quote} 1.4631 was important fib level on micro swing... /1.4648
yep, I'm short. If we come back to 45 tomorrow, I'll consider a long to 47.
Late here, off to bed
Come with me if you want to live....
  • #429,531
  • Apr 26, 2016 9:00am Apr 26, 2016 9:00am
Quoting Don96
{quote} I'm just telling you, if you make 30 pips a day - youll have more money than you've thought of, end of - and theres a reason for that, its extremely hard/more or less impossible... 20% a month is more than achievable with high levels of risk... but then that's another situation
I hear what your saying Don and I'll give you an update in 2 months, right now I've added up pips made since the 13th = 256 and increased my account by 240%

The decision to attempt 30 pips a day was made last week so sorry if I mislead anyone and this week so far Monday 38.8 and Tuesday 40.30, this is included in the 256 pips
Don't Leave Money on the Table
  • #429,532
  • Apr 26, 2016 9:03am Apr 26, 2016 9:03am
Quoting Magix
That being said. from a Monthly Perspective, if we do clear the buck forty five area, it seems like a pretty clear shot to 1.48.

Uh huh.
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Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
  • #429,533
  • Apr 26, 2016 9:04am Apr 26, 2016 9:04am
Quoting Don96
{quote} 1.4631 was important fib level on micro swing... /1.4648
I agree, swing area it may be in 1.4642x, then GBP continue to trend up targets 1.5150x ...(I hope)
Libenter homines id quod volunt credunt
  • #429,534
  • Apr 26, 2016 9:19am Apr 26, 2016 9:19am
Quoting arasheed
{quote} HalBot Stick to your GOAL and follow your plan which you think is giving results.
But if a somebody has to hedge a trade to get out of trouble then surely the results cannot be there on a daily basis as a credible system that is at the level which we all play at here with our high spread costs for the most part.

1. You have a system that makes 30 pips cool.

2 You have to hedge to get out of a bad trade.

Summary the point of entry then was not correct if you have to hedge and when you un hedge the trade position your now taking has more scope to place you at an even greater loss as your un hedging to what - another 30 pips a day system - So if the 30 pips a days system was working you would not need to hedge.

Winner all round is the broker of course.
  • #429,535
  • Apr 26, 2016 9:34am Apr 26, 2016 9:34am
Quoting dean1star
2 You have to hedge to get out of a bad trade.
How does hedging get you out of a bad trade?
Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
  • #429,536
  • Apr 26, 2016 9:37am Apr 26, 2016 9:37am
Quoting Magix
{quote} How does hedging get you out of a bad trade?
It can...
  • #429,537
  • Apr 26, 2016 9:37am Apr 26, 2016 9:37am
Quoting Magix
{quote} How does hedging get you out of a bad trade?
Well thats the point entirely how does it?

Seems you didnt read my quote correctly ..
  • #429,538
  • Apr 26, 2016 9:39am Apr 26, 2016 9:39am
Fibonacci on the weekly chart shows this is approaching 30% retracement at 1.4630 approx. 50% retracement at 1.4884 approx.
  • #429,539
  • Apr 26, 2016 9:44am Apr 26, 2016 9:44am
Quoting HaLBot
{quote} I hear what your saying Don and I'll give you an update in 2 months, right now I've added up pips made since the 13th = 256 and increased my account by 240% The decision to attempt 30 pips a day was made last week so sorry if I mislead anyone and this week so far Monday 38.8 and Tuesday 40.30, this is included in the 256 pips
240% should read 140%
Don't Leave Money on the Table
  • #429,540
  • Apr 26, 2016 9:44am Apr 26, 2016 9:44am
Quoting dean1star
{quote} But if a somebody has to hedge a trade to get out of trouble then surely the results cannot be there on a daily basis as a credible system that is at the level which we all play at here with our high spread costs for the most part. 1. You have a system that makes 30 pips cool. 2 You have to hedge to get out of a bad trade. Summary the point of entry then was not correct if you have to hedge and when you un hedge the trade position your now taking has more scope to place you at an even greater loss as your un hedging to what - another 30...
I have tried a strategy, perhaps it is called Straddle, From the current Price I entered 5 trades of TP 5 Pips each Long and 5 Pips each Short down from current price, and I bagged collectively 237 p[ps
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