I don't have a profit shorting the pound. I have a profit going long. When I add a short to my long position, it locks in my profits from my long. If we see a correction, my short protects that profit.

Cable Update (GBPUSD)

There are reasons to go short. Right now, I have a very nice profit. It has to retrace quite a lot for it to put me in negative numbers. Now, I could just sell and take my profit. Or, I could hedge by going short an equal number of trades and lock ...

Cable Update (GBPUSD)

Depends on who you ask. Some would say, it's to sucker a bunch of us in. Get the shorts to quit being short, sucker in more longs, and then sell the heck out of this thing. Others say it's because of technicals. While England is printing less money ...

Cable Update (GBPUSD)

It's not so much that I don't think we'll get up there. We might. I don't have a clue. But don't you expect a serious pullback before then? Seems like you're expecting those prices soon.

Cable Update (GBPUSD)

Wow, you're optimistic. 1.6820? Seriously?

Cable Update (GBPUSD)

Did you get stopped out already?

Cable Update (GBPUSD)

Awesome! Thanks for the help. Exactly what I was looking for.

EURUSD

Thank you Rockerzeus! That is the information I was looking for. I appreciate it.

EURUSD

Still not answering the question I'm asking. No worries, I know it's my fault. Let me try asking another question, perhaps this will assist me in finding the answer I'm looking for. When will these trades start including USD pairs again? I haven't ...

EURUSD

It seems I need to ask a different question. Hrmmm, a difficult thing to do, as I'm not sure how to ask it so the experienced traders here will understand what it is I'm asking. Who knew it would be this difficult? Every day I come here and the ...

EURUSD

Is that in just over an hour from now, or is that just over 24 hours from now?

Cable Update (GBPUSD)

Yeah, it's been stuck there for almost a full day, since the bank holiday.

EURUSD

23 hours ago.

EURUSD

Can someone tell me, how many hours before EURUSD starts trading again?

EURUSD

I sometimes use a stop loss, but not very often. Instead, I hedge. When I think my trade is going to turn against me, I purchase an equal number of lot's the opposite direction.

Trading Without a StopLoss

I think GBP/USD looks ripe for a short term sell trade. But, like Piptrapper has pointed out and others, trading against the trend can be a dangerous thing. I currently hold 5 buy lot's. They are well in the money. I could cash out at any time. ...

Cable Update (GBPUSD)

It's all debatable. Otherwise we wouldn't be debating it right now. And who doesn't believe in "exhaustion points"? Which is just a fancy way of saying that eventually, all trends come to an end. But why trade against the trend? I mean, are you 500 ...

EURUSD

If you're asking can I know where the price is going in the future, then yes, you're right, I cannot. No one can. If you're asking can I take the higher probability trade by going with the trend, then yes, I can. "statistically probability" sounds ...

EURUSD

I'm not sure I understand the question. I'll say this though, trends are established all the time. If you're trading the daily time frame, your trend might be different than if you're trading the 1 minute time frame. If you're trying for 500 pips, ...

EURUSD