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Cable Update (GBPUSD)

  • #434,061
  • Jul 5, 2016 10:06am Jul 5, 2016 10:06am
Quoting hippiedog
{quote} 3rd position 1.3045
so my question is , why are you adding to a loser position ?
  • #434,062
  • Jul 5, 2016 10:11am Jul 5, 2016 10:11am
Quoting gnajra
{quote} so my question is , why are you adding to a loser position ?
Because I am good trader and confident in my strategy.Just require good money management.1st position is a toe in the water.2nd position 2x 1st position3rd position 4x 1st positionResult.... Overall result at close of trades, always in profit.
The only way to blow an account trading this style is to use stops.I very rarely use stops.
FREEDOM IS SECURITY.
  • #434,063
  • Jul 5, 2016 10:16am Jul 5, 2016 10:16am
I can't understand why people keep trying to buy this pair. But that's ok, every time you're forced to cover it just helps my short position... the one I've been holding since 1.3478
check out my blog: forexmademillionaire dot com
  • #434,064
  • Jul 5, 2016 10:17am Jul 5, 2016 10:17am
Quoting Geppy
I can't understand why people keep trying to buy this pair. But that's ok, every time you're forced to cover it just helps my short position... the one I've been holding since 1.3478
Congrats for that geppy, nice trade entry.
FREEDOM IS SECURITY.
  • #434,065
  • Jul 5, 2016 10:20am Jul 5, 2016 10:20am
Quoting hippiedog
{quote} Congrats for that geppy, nice trade entry.
Thanks, brother. You should see my GBP/JPY trade though

Anyway, stay safe out there trying to buy. I understand, it seems at least, we have different styles. So I hope your scalps work out for you.
check out my blog: forexmademillionaire dot com
  • #434,066
  • Jul 5, 2016 10:42am Jul 5, 2016 10:42am
Quoting Geppy
I can't understand why people keep trying to buy this pair. But that's ok, every time you're forced to cover it just helps my short position... the one I've been holding since 1.3478
I was one of those people who bought early in the morning, unfortunately... I can see when the trend just isn't going to reverse and now to just cross fingers and hope that the pound falls enough to cover losses
  • #434,067
  • Jul 5, 2016 10:43am Jul 5, 2016 10:43am
Quoting hippiedog
{quote} Hi baldmonk.Yes correct it is 100/2 and not 100/02. The deviation is 2.Alligator can work with this as well. You can add a second set of BB at setting 100/3 for confirmed oversold and overbought. I am trading on mobile and I use trading 212.Highly recommend this platform.
hi, hippiedog, thanks for getting back. another q: why would you wait for close above 10ema for buy signal?
  • #434,068
  • Jul 5, 2016 10:50am Jul 5, 2016 10:50am
Quoting PJFx
{quote} I was one of those people who bought early in the morning, unfortunately... I can see when the trend just isn't going to reverse and now to just cross fingers and hope that the pound falls enough to cover losses
It's tough to flip your position, but often the correct move. Nice job. Pulling for you!
check out my blog: forexmademillionaire dot com
  • #434,069
  • Jul 5, 2016 10:55am Jul 5, 2016 10:55am
Quote baldmonk. ;It just works with this strategy.</p>You could use the re-entry over the 100/2 band from oversold or overbought.
Because I don't use stops and add to losing positions I need entry signal that does not produce to many entrys but rather just good entry's.
Results are between 10-200 pips a day but requires good market knowledge of best times to attempt this.
I prefer quiet market conditions.
This strategy is just a scaled down version of my 1H envelopes strategy.
It just works well with compounding and good money management.
I don't expect every position I take to win, but I expect my overall result on the pair to be profitable.
And so next close over 10ema I will add 4th position.
In turn a losing position gives opportunity for larger wins with further positions but I am able to do this only because I am confident in my strategy.It is not to everyones liking.
FREEDOM IS SECURITY.
  • #434,070
  • Jul 5, 2016 10:56am Jul 5, 2016 10:56am
Quoting Geppy
{quote} It's tough to flip your position, but often the correct move. Nice job. Pulling for you!
Thank you! I actually just started trading 4 or 5 days ago and its been a hell of a ride already
  • #434,071
  • Jul 5, 2016 11:01am Jul 5, 2016 11:01am
Took a small long at 1.3018
  • #434,072
  • Jul 5, 2016 11:03am Jul 5, 2016 11:03am
Soros Action?
  • #434,073
  • Jul 5, 2016 11:04am Jul 5, 2016 11:04am
Quoting hippiedog
{quote} Because I am good trader and confident in my strategy.Just require good money management.1st position is a toe in the water.2nd position 2x 1st position3rd position 4x 1st positionResult.... Overall result at close of trades, always in profit. The only way to blow an account trading this style is to use stops.I very rarely use stops.

cool. so do you set it like mental stop? when do you close it then ? whenever its the opposite's position's rules trigger ?
  • #434,074
  • Edited 11:19am Jul 5, 2016 11:07am | Edited 11:19am
Quoting gnajra
{quote} cool. so do you set it like mental stop? when do you close it then ? whenever its the opposite's position's rules trigger ?
Yes that's correct.
Also you find it is great for scaling in to higher time frames.
Example: I may now switch to 2min chart same TP target upper BB band.
FREEDOM IS SECURITY.
  • #434,075
  • Jul 5, 2016 11:11am Jul 5, 2016 11:11am
probably a bottom at 1.3, 250 pip ride ..
  • #434,076
  • Jul 5, 2016 11:12am Jul 5, 2016 11:12am
Quoting traderblah
{quote} 1.19213
Other targets

1.24932
1.12143
0.75206
  • #434,077
  • Jul 5, 2016 11:14am Jul 5, 2016 11:14am
Quoting hippiedog
{quote} 3rd position 1.3045
4th position placed 1.30144
FREEDOM IS SECURITY.
  • #434,078
  • Jul 5, 2016 11:16am Jul 5, 2016 11:16am
Mesmerizing pips slaughter today. I announced today that market is awake. Everywhere i turn to PIPS and PIPS. Maybe cable has found bottom???. Just sniped out about 150 pips on EUCAD while i am waiting for EAUD 500 pips splash. So Super Martingale Sell on USDCHF???
Trading Eternal...... Shiny & Chrome!!!!
  • #434,079
  • Jul 5, 2016 11:19am Jul 5, 2016 11:19am
Quoting hippiedog
Quote baldmonk. ;It just works with this strategy.</p>You could use the re-entry over the 100/2 band from oversold or overbought. Because I don't use stops and add to losing positions I need entry signal that does not produce to many entrys but rather just good entry's. Results are between 10-200 pips a day but requires good market knowledge of best times to attempt this. I prefer quiet market conditions. This strategy is just a scaled down version of my 1H envelopes strategy. It just works well with compounding and good money management. I don't...
ha ha, just tried, pocketed some green pips, thanks, hippiedog...

with so much uncertainty, m1 scalping ftw
  • #434,080
  • Jul 5, 2016 11:24am Jul 5, 2016 11:24am
Quoting Don96
Took a small long at 1.3018
Double size at 1.3006 stop at B. E now
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