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Cable Update (GBPUSD)

  • #476,381
  • Apr 18, 2019 10:01am Apr 18, 2019 10:01am
Northwards now - my target 1.30290
  • #476,382
  • Apr 18, 2019 10:06am Apr 18, 2019 10:06am
gu h1 +15m
Attached Image(s) (click to enlarge)
Click to Enlarge Name: GU H1.png Size: 32 KB
Click to Enlarge Name: GU 15.png Size: 33 KB
yes yes yes
  • #476,383
  • Apr 18, 2019 11:28am Apr 18, 2019 11:28am
If GU going toward 1.28200 my account will dead, is there any way to prevent?
  • #476,384
  • Apr 18, 2019 11:37am Apr 18, 2019 11:37am
Quoting essei
If GU going toward 1.28200 my account will dead, is there any way to prevent?
Nobody can predict the future but it's looking like GU is heading lower. What is the current situation?

*Edit*

Just seen the TE and it looks pretty bleak. I would exit every single position right this minute, pull my money out and get back on a demo.

You have 23 open buys on GU and most of those are 10:1 leverage entries. This account is teetering on a margin call.
  • #476,385
  • Apr 18, 2019 11:38am Apr 18, 2019 11:38am
Quoting essei
If GU going toward 1.28200 my account will dead, is there any way to prevent?
what was your trading plan before you put so many buy orders?? you will need to think again..don't marry a single trade.. cut your loses and take a break then come again with a solid plan..

Btw,You can follow my trading journal if you want to. https://www.forexfactory.com/showthread.php?t=910784
  • #476,386
  • Apr 18, 2019 12:09pm Apr 18, 2019 12:09pm
Quoting essei
If GU going toward 1.28200 my account will dead, is there any way to prevent?
Hello Essei
Like Humantrader said, Get of a live account and work out a plan for yourself on a demo account. Trade that plan for at least 3 month continuously.
Dont follow other peoples trades blindly otherwise you wont learn. Dont jump from one system to the next. Sit down work out a system that will work for you. Stay away from short time frames , dont trade bellow 1hour in the beginning. to much noise.

visit babypips.com and learn all the basics there. then sit down on a demo account and find your interest in the market on long time frames and back test as much as you want. Then open a small live account nothing more than $100 and trade nothing more than 0.01 lots, if you can build that account to 1000 dollars you on the right track.

Some people can do this quickly some can take years to get there. This is not a get rich quick game - if you have that mentality you will just get broke quickly.
You need lots of patience and wait for perfect setup and even then they can sometime go wrong.

If people tel you, you cant build a account from 100 to 1000 - go back on this thread and you will see that you can. I showed an example of a small account i opened with a new broker to test them with $100 dollars and build it to 1000 in 3 month. only trading 0.01 and long time frames. Low risk trades. There are setups nearly everyday that is setting up for long time frames trading. I personally dont trade bellow 4hour time frames.

Also stop trading on dollar value rather trade on percentages. Example a 100 dollar account if you make a trade that gives you 1% return that is $1
Train yourself to look at percetage all the time. Doing 1% a day can make you live a comfortable life very quickly.

If you follow someone else's trades just do your own analysis first and see if you feel the same. if in doubt stay out.
Yet again - stay away from short time frames. Very risky.
  • #476,387
  • Apr 18, 2019 1:06pm Apr 18, 2019 1:06pm
there is a quite serious divergence h1.
which suggests that gbp will be strengthened.
I bought . 1.2987.
h1
  • #476,388
  • Apr 18, 2019 1:30pm Apr 18, 2019 1:30pm
Quoting essei
If GU going toward 1.28200 my account will dead, is there any way to prevent?
Just Pray!!!
  • #476,389
  • Apr 18, 2019 1:50pm Apr 18, 2019 1:50pm
Quoting C-12
{quote} Nobody can predict the future but it's looking like GU is heading lower. What is the current situation? *Edit* Just seen the TE and it looks pretty bleak. I would exit every single position right this minute, pull my money out and get back on a demo. You have 23 open buys on GU and most of those are 10:1 leverage entries. This account is teetering on a margin call.
Thank you all for the advices, I try to close every single position and pull my money out.
Actually I do not have any solid plan.
  • #476,390
  • Apr 18, 2019 1:56pm Apr 18, 2019 1:56pm
Quoting Henry2501
{quote} Hello Essei Like Humantrader said, Get of a live account and work out a plan for yourself on a demo account. Trade that plan for at least 3 month continuously. Dont follow other peoples trades blindly otherwise you wont learn. Dont jump from one system to the next. Sit down work out a system that will work for you. Stay away from short time frames , dont trade bellow 1hour in the beginning. to much noise. visit babypips.com and learn all the basics there. then sit down on a demo account and find your interest in the market on long time frames...
Thank you for your advices, sure, after I could get out from current position I will close my current live account.
But right now, is it good idea to open sell position in GU to conter Ballance it?
  • #476,391
  • Apr 18, 2019 2:04pm Apr 18, 2019 2:04pm
No please don’t... just hope for a bounce back up. Monthly we are still up. Just hope that 1.2955 doesnt get broken.
good luck and please dont ever trade like this again...
i think we’ve all been there
  • #476,392
  • Edited 3:05pm Apr 18, 2019 2:47pm | Edited 3:05pm
Quoting essei
{quote} Thank you all for the advices, I try to close every single position and pull my money out. Actually I do not have any solid plan.
It will be the best lesson ever learned. I also blew accounts back in 2013, it's something we all have to experience.

First rule of trading is have risk management rules, risk to reward ratios and a max total risk size on account.

Here's an indicator you can put under the charts for monitoring total account risk, PnL and leverage used.
Attached Image
Attached File(s)
File Type: ex4 C12_RiskManagement.ex4   31 KB | 266 downloads
  • #476,393
  • Apr 18, 2019 3:00pm Apr 18, 2019 3:00pm
Quoting essei
If GU going toward 1.28200 my account will dead, is there any way to prevent?
I'm very sorry to hear of your losses
Don't trade what you think. Just what you see!!!
  • #476,394
  • Apr 18, 2019 3:27pm Apr 18, 2019 3:27pm
Quoting essei
If GU going toward 1.28200 my account will dead, is there any way to prevent?
let's hope that's hold
Attached Image(s) (click to enlarge)
Click to Enlarge Name: GU D1.png Size: 26 KB
Click to Enlarge Name: GU H1.png Size: 45 KB
yes yes yes
  • #476,395
  • Apr 18, 2019 3:31pm Apr 18, 2019 3:31pm
Quoting C-12
{quote} It will be the best lesson ever learned. I also blew accounts back in 2013, it's something we all have to experience. First rule of trading is have risk management rules, risk to reward ratios and a max total risk size on account. Here's an indicator you can put under the charts for monitoring total account risk, PnL and leverage used. {file} {image}
Thank you for indicator, it is very useful.
If I survived I will use it.
What can I do now? If I close open trades I will lose about 800 $, is there any other options?
  • #476,396
  • Apr 18, 2019 3:38pm Apr 18, 2019 3:38pm
Quoting essei
{quote} Thank you for indicator, it is very useful. If I survived I will use it. What can I do now? If I close open trades I will lose about 800 $, is there any other options?
It depends on how much the money that remains in account means to you.

You could hope it turns around and do nothing but risk a margin call. It's ultimately your call.

What happens if GU goes up and you manage to rescue those 23 positions? What lesson does this teach you on your trading journey? Are you looking to be a trader?

Personally I'd exit all positions and go back to the drawing board with a fresh slate and not care if GU goes up from here or not.
  • #476,397
  • Apr 18, 2019 3:55pm Apr 18, 2019 3:55pm
Quoting C-12
{quote} It depends on how much the money that remains in account means to you. You could hope it turns around and do nothing but risk a margin call. It's ultimately your call. What happens if GU goes up and you manage to rescue those 23 positions? What lesson does this teach you on your trading journey? Are you looking to be a trader? Personally I'd exit all positions and go back to the drawing board with a fresh slate and not care if GU goes up from here or not.
If GU goes up and I survived first of all I stop trading and stay away to learn and after trade enough with demo account, I will get back to market
I will never trade with more than 1 persent of my money.
Now I have 1190$ in my account if right now close all positions I lose 800$ it is a lot of money for me.
  • #476,398
  • Apr 18, 2019 5:19pm Apr 18, 2019 5:19pm
[quote = Moty; 12231278] {quote} vamos esperar que isso aconteça {image} {image} [/ quote]
hey moty it will work.
  • #476,399
  • Apr 18, 2019 5:31pm Apr 18, 2019 5:31pm
A descending triangle is still intact in Daily chart.
Price still currently holding in the support line.
But once it break .... Woooogh boy ..... Im ready to board inside the "Bearish Train Express"

Sell Stop on 1.29274

Attached Image (click to enlarge)
Click to Enlarge Name: GBPUSDDaily.png Size: 65 KB
  • #476,400
  • Apr 18, 2019 7:20pm Apr 18, 2019 7:20pm
Today is the holiday of England banks, is this have any effects on GU, what can be expected?
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