Forex Day Trader's Thread

[N Rothschild]

urggh cant believe closed out that dow short for +40 just before that big drop..d0h!

 

[Pippy5000]

Bernanke is about to speak.. this could shakes things up a lot..

 

[N Rothschild]

looks like gbp is gona break to the upside

 

[tripleogstar]

it has been extremely frustrating today, missed out on shorting the dow and got stopped out with only small profit on short cable. I think i might have another shot at shorting cable afta dow closes

 

[N Rothschild]

on 2nd thoughts im gona leave it alone, all seems a bit fishy cable going up while equities heading down, eur heading down, yen going up etc

 

[Pippy5000]

I have plans to short Cable at 1.498

 

[Pippy5000]

This isn't sterling strength causing this.. Look at the EUR/GBP charts..

 

[Pippy5000]

Here are the resistance levels in Cable

1.5155(M) Daily High Jan 12
1.4985(S) Trend High Feb 9
1.4960(M) Daily Trend High Apr 6

 

[Pippy5000]

Here's my entry order

-$100,000 GBP/USD at 1.498

s/l 1.502 t/p 1.441

-$200,000 GBP/USD at 1.5145
s/l 1.5185 t/p 1.441

 

[N Rothschild]

a 4 point stop on the first lot?

 

[Pippy5000]

that's 40 pips.. if it breaks 1.50 I think it will be on it's way higher.. I find that blind entry orders work best 5 pips in front of the r/s with a stop 35 pips behind. I've been stopped out too many times at -30 pips..

 

[N Rothschild]

-$100,000 GBP/USD at 1.498

s/l 1.502

thats 4!

 

[Pippy5000]

yes.. yes..yes.. come to pappa.. just a little higher

 

[Pippy5000]

dude... that's 40 pips

1.4980
1.5020

 

[tripleogstar]

-$100,000 GBP/USD at 1.498

s/l 1.502

thats 4!

1.498 is the same as 1.4980 and so s/l at 1.502 is same as 1.5020, and so 1.5020-1.4980 is 40 pips.

 

[Pippy5000]

yes, the zero was implied.. Trust me, I wouldn't try an entry order with a 4 pip stop!

 

[N Rothschild]

lol, told you im **** at maths haha

 

[Pippy5000]

I have been waiting to get this Cable short in for a long time.. just 40 pips to go and it's on..

 

[N Rothschild]

short dow from 7895, futures

 

[N Rothschild]

that gbp breakout had about as much conviction as a fart in the wind!