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Cable Update (GBPUSD)

  • #504,341
  • Nov 25, 2019 12:25pm Nov 25, 2019 12:25pm
profitable trades closed for today.

More shorts still on.

Bye for today guys.
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Intraday only.
  • #504,342
  • Nov 25, 2019 5:29pm Nov 25, 2019 5:29pm
Quoting navk
profitable trades closed for today. More shorts still on. Bye for today guys. {image}
Excellent work!
Freedom is an asset.
  • #504,343
  • Nov 25, 2019 6:56pm Nov 25, 2019 6:56pm
2884 to 2930 today.

Afterwards, correction.

Even if it drops below 2884, one can buy
Intraday only.
  • #504,344
  • Nov 25, 2019 8:13pm Nov 25, 2019 8:13pm
Quoting Nala66
{quote} That is like saying you can pick up a book in a foreign language and by concentrating your mind you can read it. Seeing a chart and being able to comprehend what it is telling you are entirely two different things. What triggers entries, hedges and exits must be based upon what the chart is saying not what the trader thinks. These triggers are based upon high probabilities inasmuch as the outcome is usual but not always definite hence we have stops as safeguards. The questions traders should be asking are what constitutes triggers and this...
You are Absolutely right, but controlling your emotions and discipline can serve the cause. Traders must not risk more than 5% of the equity on each trade than probability of never loosing will definitely increase.
  • #504,345
  • Nov 25, 2019 8:44pm Nov 25, 2019 8:44pm
Quoting Army50000
{quote} You are Absolutely right, but controlling your emotions and discipline can serve the cause. Traders must not risk more than 5% of the equity on each trade than probability of never loosing will definitely increase.
I don't really subscribe to this notion of % risk. What is special about 5%? What is the other 95% in the account for? It may as well be in the bank collecting the massive interests the bank pays.

If I have to risk $100 to make a potential $1,000 then I will do it irrespective of the $100 being any % of the account.

If my trade is wrong I am stopped out very quickly and await the next opportunity I spot.

This is the crux of the matter. If the trade is wrong people hold on in a vain hope of it coming good, often it does but in cases like this the trader has to win every battle but the market only has to win one.

This is discipline for sure but I fail to see the emotional aspect.
  • #504,346
  • Nov 25, 2019 9:00pm Nov 25, 2019 9:00pm
No offence
but see some trader start to talk when bull attack
why dont talk at Friday when bear attack?
Everyone can share their view at FF
no one is misleading others, if want to follow the trade here and lose, only can blame self not study properly and blindly follow trade
  • #504,347
  • Nov 25, 2019 9:05pm Nov 25, 2019 9:05pm
Quoting Nala66
{quote} I don't really subscribe to this notion of % risk. What is special about 5%? What is the other 95% in the account for? It may as well be in the bank collecting the massive interests the bank pays. If I have to risk $100 to make a potential $1,000 then I will do it irrespective of the $100 being any % of the account. If my trade is wrong I am stopped out very quickly and await the next opportunity I spot. This is the crux of the matter. If the trade is wrong people hold on in a vain hope of it coming good, often it does but in cases like...
Intraday only.
  • #504,348
  • Nov 25, 2019 9:11pm Nov 25, 2019 9:11pm
"High risk high gain"

When you come to this business, you must know that you can get a car but in the same time you can lose itu too. Use your own way to trade dude because you are the decision maker of your life not others.
  • #504,349
  • Edited 11:21pm Nov 25, 2019 10:59pm | Edited 11:21pm
Quoting Army50000
{quote} You are Absolutely right, but controlling your emotions and discipline can serve the cause. Traders must not risk more than 5% of the equity on each trade than probability of never loosing will definitely increase.
I believe most standard rules just set you up to die a death by a 1000 cuts. I read a study where risking 7% increases a traders profits by double over a year.
Personally as I am a scalper that only aims for 5-15 pips per trade and have a high win rate, I just trade big out of a moderate size account. This way profits are realised quickly with only a moderate risk on the table. So I would risk 20% per trade keeping some margin for a few hedges. Then I with drawn profits regularly.
If I traded any other time frame than M1, I would probably lower by risk due to big players running stops and destroying great setups
In Australia, we still have high leverage about 500:1, but only for another 6 months.
Trading thin liquidity at the boundary of the charts
  • #504,350
  • Nov 25, 2019 11:23pm Nov 25, 2019 11:23pm
i see atleast 1.28669 to the downside
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yes yes yes
  • #504,351
  • Nov 25, 2019 11:26pm Nov 25, 2019 11:26pm
Quoting RickM
{quote} I believe most standard rules just set you up to die a death by a 1000 cuts. I read a study where risking 7% increases a traders profits by double over a year. Personally as I am a scalper that only aims for 5-15 pips per trade and have a high win rate, I just trade big out of a small account. This way profits are realised quickly with only a moderate risk on the table. So I would risk 20% per trade keeping some margin for a few hedges. Then I with drawn profits regularly. If I traded any other time frame than M1, I would probably lower...
The whole thing is quite complexed to explain because it does reflex what each of us see in the market and what we practice to profit. If we were all right all the time then we wouldn't have a market would we? A guru would own the lot, or a bank or the so call big boys...But that isn't, and never will be the case.

We develop our own system and then apply the math to realise the result we desire.

For me I am not sure what a scalper is. For me all trades start as scalps and develop into trades. That is to say I can get multiple trades on to compound the profit and the scalp becomes a trade. That is the only distinction I make between the two.

Another way of determining a scalp from a trade is to say a scalp is against the trend whereas a trade goes with the trend.

We can beat ourselves up as much as we like about who is correct and what is correct but the only real thing that counts is the bottom line of the account.
  • #504,352
  • Edited Nov 26, 2019 12:05am Nov 25, 2019 11:45pm | Edited Nov 26, 2019 12:05am
Quoting Nala66
{quote} The whole thing is quite complexed to explain because it does reflex what each of us see in the market and what we practice to profit. If we were all right all the time then we wouldn't have a market would we? A guru would own the lot, or a bank or the so call big boys...But that isn't, and never will be the case. We develop our own system and then apply the math to realise the result we desire. For me I am not sure what a scalper is. For me all trades start as scalps and develop into trades. That is to say I can get multiple trades on to...
I would say if you are scalping, you are looking to trade a small edge offered by a price action movement, either with or against a trend. Either way it’s a trade that historically offers a small win more times than not.
The intention is of course to make your money with one trade in one move, but do it successfully 20 or 30 times a trading session.
Trading thin liquidity at the boundary of the charts
  • #504,353
  • Edited Nov 26, 2019 12:46am Nov 25, 2019 11:49pm | Edited Nov 26, 2019 12:46am
so H4 tf again went crazy , 2887/78 play to up try while limit down remain 2865, watching bull try to signal failure at 2865.2887 tested closely but not 2878 yet , try it !

seen in the morning usdx also readying for bull action , they together trying bull at the same time . strange , one to survive at last!

checking eurgbp as gbp may be getting strength from selling euro desperately rather usd!ok still to play down alittle . lets see
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Not understand?better not follow my analyses!doubt clearer first, risks ++
  • #504,354
  • Nov 26, 2019 12:05am Nov 26, 2019 12:05am
#gbpusd predictive analysis and forecast
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  • #504,355
  • Nov 26, 2019 12:45am Nov 26, 2019 12:45am
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yes yes yes
  • #504,356
  • Edited 1:41am Nov 26, 2019 1:07am | Edited 1:41am
Quoting Nala66
{quote} The whole thing is quite complexed to explain because it does reflex what each of us see in the market and what we practice to profit. If we were all right all the time then we wouldn't have a market would we? A guru would own the lot, or a bank or the so call big boys...But that isn't, and never will be the case. We develop our own system and then apply the math to realise the result we desire. For me I am not sure what a scalper is. For me all trades start as scalps and develop into trades. That is to say I can get multiple trades on to...
No, your understanding of scalping is incorrect. The word scalping is derived from a medical term to dissect or “cut”. In trading, a scalper will “cut”/ scalp a small number of pips out of the market let’s say 5/10/15 20 pips per trade...that is where the word scalp comes from. Scalpers are in and out of the market quickly, they then look for more scalp opportunities. Intra-day is the next batch of traders, then other time frame traders, which generally is swing/long term traders.

Guz
Charts don't drive price, market conditions drive price...
  • #504,357
  • Nov 26, 2019 1:57am Nov 26, 2019 1:57am
Quoting Nala66
{quote} That is like saying you can pick up a book in a foreign language and by concentrating your mind you can read it. Seeing a chart and being able to comprehend what it is telling you are entirely two different things. What triggers entries, hedges and exits must be based upon what the chart is saying not what the trader thinks. These triggers are based upon high probabilities inasmuch as the outcome is usual but not always definite hence we have stops as safeguards. The questions traders should be asking are what constitutes triggers and this...
Well said Nala

An interview I listened to a while ago had a trader describe the markets as "The hardest way to make easy money."
  • #504,358
  • Nov 26, 2019 1:58am Nov 26, 2019 1:58am
At the moment i see GPBUSD in a situation where it can go much up or much down, so for me a situation where i dont want to trade it. The last monthly candelstick shows potenzial for more upmove and the most people are waiting at moment for some more retracement, not nice situation for me to trade this.
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  • #504,359
  • Nov 26, 2019 2:03am Nov 26, 2019 2:03am
good to see , waiting signal then , hope not now , but breaks & fakeout possible
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Not understand?better not follow my analyses!doubt clearer first, risks ++
  • #504,360
  • Nov 26, 2019 2:03am Nov 26, 2019 2:03am
Although I hold a bearish bias on the GBPUSD, I am not entering the market until there is a significant sell trading setup at an area of value I identified, the 78.6 Fib zone of the most recent downleg on the D1; the zone (1.29300/1.30360) is bound by magenta horizontal lines. Meanwhile, the price action still has some bullish momentum.

I may be wrong. Trade safe.

KP

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