Attachments: Cable Update (GBPUSD)

Cable Update (GBPUSD)

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#708,221
Nov 18, 2022 7:38am Nov 18, 2022 7:38am

Zairul
| Joined Feb 2022 | Status: Trader | 340 Posts

how to read this... up down up again...hahaha

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#708,222
Nov 18, 2022 7:38am Nov 18, 2022 7:38am

bilal1947
Joined Apr 2020 | Status: Offline | 3,298 Posts

Quoting Georginson

Disliked

{quote} Averaging trades in a wrong direction is recipe for disaster... This year 2022 has been more of a difficult year to trade than even year 2020 (pandemic year) and year 2016 (brexit year) as various pairs especially GU touched price never seen in history and a ridiculous 3400 pips range in a single year. In more stable years, averaging trades will work perfectly with stable ranges.

Ignored

Some food for thoughts and healthy discussion
Averaging, hedging / martingle, vs Stop loss

100% sure i am new to anything other then stop loss but exploring new stuff is part of learing which should never stops. and experts in this can recover their equity magnificently.

No doubt, above methods to safeguard equity are all possible ways to follow and how many traders do here, the question i ask myself how is the journey of averaging to the mind, emotion, time lost and more importantly equity curve. and how the compounding effects these methods averaging on wrong side exponentially dig the whole deeper and for sure not possible on prop firm account and same way it may recover faster too.

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whereas using stop loss where everything is planed 2% stop loss yes - 50 trades only, if we loss all the trades.

Now add compounding to it, say a 500$ account turns 600$ so 2% loss will be fixed as per new equity yet account grows compundingly and when trading M1 chart knowing HTF analysis and sharp entries help makes RR not just 1:1 but 1:3 - 1:5 means the equity is growing faster while reducing slower and everything is moving according to plan, it will be a calculated tension free, safer on mind and heart way to follow for now.

looks very nice while writing

but in practice we don't follow rules so our fault again Discipline !

"Exchange of hands"

#708,223
Nov 18, 2022 7:42am Nov 18, 2022 7:42am

Zairul
| Joined Feb 2022 | Status: Trader | 340 Posts

maybe we read it like this... and mf ranging... hahaha

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#708,224
Nov 18, 2022 7:48am Nov 18, 2022 7:48am

elbert3
Joined Dec 2013 | Status: Trader | 19,815 Posts

It’s on the move I think anywhere won’t bother me as long as it’s moving if it can drop below first support it should pick up some seller or vice versa

#708,225
Nov 18, 2022 7:52am Nov 18, 2022 7:52am

Georginson
Joined Aug 2018 | Status: Research Analyst | 4,289 Posts

Quoting bilal1947

Disliked

{quote} Some food for thoughts and healthy discussion Averaging, hedging / martingle, vs Stop loss 100% sure i am new to anything other then stop loss but exploring new stuff is part of learing which should never stops. and experts in this can recover their equity magnificently. No doubt, above methods to safeguard equity are all possible ways to follow and how many traders do here, the question i ask myself how is the journey of averaging to the mind, emotion, time lost and more importantly equity curve. and how the compounding effects these methods...

Ignored

Very well written Bilal.... Traders use stop losses and still get their accounts burnt through consecutive losses due to bad entries and stop loss hunting.

Traders also avoid stop losses by averaging positions with psychological stops in mind yet indiscipline kicks in when it's not going in their direction and they eventually blow up the account.

Both strategies have advantages and disadvantages... But hey the market makers ploy is to put traders in very difficult corner to burn their accounts regardless of strategies put in place... Only the very few experienced and patient traders will survive this business...

Classic example this week.... Price touched 1.2028 being multi month high which trapped many buy stops, then price returned to 1.1763 yesterday with pretense the bears are back, yet many sell trades got trapped there too with stop losses being hit in both directions...

In summary, know yourself and the strategy that will give you more win and peace in the long run.

Data + Stat + Risk/Emotions Management

#708,226
Nov 18, 2022 7:54am Nov 18, 2022 7:54am

Comeculo
| Joined Jul 2022 | Status: Trader | 73 Posts

td9 sell set up completed
pulldown coming up?

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#708,227
Nov 18, 2022 7:54am Nov 18, 2022 7:54am

Moty
Joined Dec 2017 | Status: Trader | 30,688 Posts

Dx is ready to fly
Let's go

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yes yes yes

#708,228
Edited 8:14am Nov 18, 2022 7:59am | Edited 8:14am

bilal1947
Joined Apr 2020 | Status: Offline | 3,298 Posts

This is the Opportunity "Once in every Quarter" it is like seasonal tendency - Yes we can Donate blood

Yes, Money is not the only way to help each other.

Every after 3 months one can donate and today is one the the good day when i donated not to show off perhaps to motivate as i have been doing it since Corona 4 times in a row then a gap of 3 months and today again.

Miraculously since the first time i donated my Hemoglobin was 13.5 and every next time i go it is more then the previous and today i was 16.1 yippi look like the muscle / organ we give exercise its gets healthier like in body building.

Make sure when you donate below are aligned like all TF moving in same direction:
- Mind - Are you comfortable to donate blood, even if your healthy and find but mentally you didnt accept it never donate many other good things one can do
- Body - Hemoglobin levels, it has to be 13+ and body weight 50+
- Heart is Okay (dr will do the blood pressure check and if its good you're good to proceed)

There is even a bigger Opportunity "Once in a Life Time" - Yes we can Donate Organs too upon parting life.

Stay blessed everyone
best regards
bilal

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