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Cable Update (GBPUSD)

  • #527,741
  • Jun 14, 2020 11:05am Jun 14, 2020 11:05am
Quoting knkie
{quote} {quote} a plan is different from trying to predict the future. it usually leads to confirmation bias. by tomorrow there will be several different "plans" on this forum. lol its up down or sideways. not much more than that.
But I don't believe he was trying to predict the future, if he was surely there would only be one scenario. He had two different scenarios that he plans to enter on I assume if they follow the paths that he pointed out.
  • #527,742
  • Jun 14, 2020 11:16am Jun 14, 2020 11:16am
Quoting Theoak
I love this forum. We pick a plan. We then; for that moment become a bull (or bear) for hours, minutes or maybe days. ..

others are licking their ... . .
Yeyyyy

Don't forget Onlinus!!!

He's in a class by himself.

Years!!!

And he's still licking
Bought 1.32 for 1.45 He's my star

Quoting OnlineAddict
{quote} I would bet anything we will see 3240 soon and there is nothing anyone can do about it. Easy money...like picking it up from the street.

Dropped to 1.25 in weeks
Attached Image
Beware of robber banks (RB), bad advisors.
  • #527,743
  • Edited 11:34am Jun 14, 2020 11:19am | Edited 11:34am
Good old Onlinus


Links back... Smart guys
https://www.forexfactory.com/showthr...7#post11307097

https://www.forexfactory.com/showthr...3#post12386193
Attached Image
Beware of robber banks (RB), bad advisors.
  • #527,744
  • Jun 14, 2020 11:30am Jun 14, 2020 11:30am
Quoting Tpak
{quote} if it went much higher then he mentioned then it may be your turn
No probs

Guys I'm open to ideas.... and noone is perfect .

I just think it'll go down from here 2530, rather than up.
But that said, so what if it goes high first to 1.27?

I don't care I KNOW pound is trash and I'll happily sell higher for
Big range trader around 1.2430


Again - we are trading different frames, right? That dude on 5min chart will have a heart attack at 60 pip spike that i simply yawn at
Beware of robber banks (RB), bad advisors.
  • #527,745
  • Jun 14, 2020 11:38am Jun 14, 2020 11:38am
Quoting Scotteyy
{quote} But I don't believe he was trying to predict the future, if he was surely there would only be one scenario. He had two different scenarios that he plans to enter on I assume if they follow the paths that he pointed out.
im sure you are right

trade safe
in wondering about yourself, you forgot what you came here to be part of
  • #527,746
  • Jun 14, 2020 11:46am Jun 14, 2020 11:46am
Quoting OnlineAddict
This monthly candle shouldn't change much, expecting some range in the 2400-2700 area...then next month a whipsaw down(possibly below 2000), back up and then the bullish pattern on monthly will be completed and we can continue above 1.30 eventually.
You can also check yearly candle, producing even more prommising results

Life is great!!
  • #527,747
  • Jun 14, 2020 11:52am Jun 14, 2020 11:52am
Quoting guestfromeast
{quote} I assume that 80% of success in trading is: Patience + Reasonable money management + Reasonable Entry. Time will tell!
i would say so buddy, 5% buying 5% selling 90% waiting.
sitting on your hands is good lol
correct RM and consistency will cause you to survive long in the game
i never understood these big wins every other day or so that people aim for, 2% a day im happy and content with


trade safe
Joe
  • #527,748
  • Jun 14, 2020 11:54am Jun 14, 2020 11:54am
Welcome to the hardest game in the world.
Unfortunately, you're playing with some of the sharpest, fastest, most intelligent, well informed, stubbornly irrational and in many cases, unethical; minds in the world.
You're up against a computer that can react faster than you.
The trader who has more experience than you.
The fund that has more money than you.
The insider that has more information than you.
The others that will misinform you.
The inner voice that will do its best to undo you.
So, leave all your dreams of making quick and easy money, behind.
The first aim is survival.
Your absolute first goal is to learn how to stay in the game.
You can only do this by mapping the territory.
By understanding how the enemy thinks and acts.
By having a solid game plan.
And by picking your battles very, very carefully.
Ready to play?

https://medium.com/@joeshrwood/stock...h-195ea255055a
  • #527,749
  • Jun 14, 2020 11:59am Jun 14, 2020 11:59am
Quoting knkie
{quote} {quote} it usually leads to confirmation bias.
Honestly, there’s not enough discussion on the mindset required to be successful in trading.

I posted an article here regarding bias and decision making. If this is of interest I can also recommend:

Trading In The Zone by Mark Douglas.

I once met mysterious man (who wouldn't give me his name) who recommended this to me. He didn't say much, but what he did has become invaluable.
Focus.
  • #527,750
  • Jun 14, 2020 12:03pm Jun 14, 2020 12:03pm
Hi Guys,

Does anyone have a Gartley drawing indicator?

I would be happy if you can share the inputs and what is the best tf that it works on.

Thanks in advance.
Patience and Discipline.
  • #527,751
  • Jun 14, 2020 12:11pm Jun 14, 2020 12:11pm
Quoting Theoak
I love this forum. We pick a plan. We then; for that moment become a bull (or bear) for hours, minutes or maybe days. Groups form and allies are made. Then we go to war! At the end one side is high-fiving each other and the others are licking their wounds. Plan the work; work the plan.
I’m with General Moty come Monday
Don't trade what you think. Just what you see!!!
  • #527,752
  • Jun 14, 2020 12:13pm Jun 14, 2020 12:13pm
Quoting Marco-Kanto
{quote} Honestly, there’s not enough discussion on the mindset required to be successful in trading. I posted an article here regarding bias and decision making. If this is of interest I can also recommend: Trading In The Zone by Mark Douglas. I once met mysterious man (who wouldn't give me his name) who recommended this to me. He didn't say much, but what he did has become invaluable.
great book, would recommend to anyone .

just think of this all

“A bear chased two hikers.
One hiker, while being chased,
stopped to put on running shoes.”
As he was changing out of his hiking boots, his companion looked at him in horror and exclaimed, “What in the world are you doing? You’ll never outrun the bear if you stop now!”
Calmly, the other hiker said, “I don’t have to outrun the bear. I just have to outrun you.”
The forex market offers more opportunity for fast financial success — and financial ruin — than almost any other market. The get-rich crowd has always been attracted to it. This crowd includes speculators, trading novices, retirees, and professionals looking for a way to get out of debt, increase the excitement in their lives, or simply get rich really fast.
These are the people who you will be taking money away from. These are the people who will be eaten by the bear. You don’t have to outrun the bear (the entire market). In fact, that’s impossible. You can’t beat the entire market. Those of you who try will learn fast that the market has no mercy, can outrun anyone, and shows no mercy.
  • #527,753
  • Jun 14, 2020 12:14pm Jun 14, 2020 12:14pm
Quoting joesherwood
{quote} great book, would recommend to anyone . just think of this all “A bear chased two hikers. One hiker, while being chased, stopped to put on running shoes.” As he was changing out of his hiking boots, his companion looked at him in horror and exclaimed, “What in the world are you doing? You’ll never outrun the bear if you stop now!” Calmly, the other hiker said, “I don’t have to outrun the bear. I just have to outrun you.” The forex market offers more opportunity for fast financial success — and financial ruin — than almost any other market....
That was a quick reply dude - do you have this committed to memory??
Focus.
  • #527,754
  • Jun 14, 2020 12:16pm Jun 14, 2020 12:16pm
Quoting Marco-Kanto
{quote} That was a quick reply dude - do you have this committed to memory??
from one of my articles - found something similar online so wanted to use it as beginning for one of them
  • #527,755
  • Jun 14, 2020 12:19pm Jun 14, 2020 12:19pm
if anyone would like a link to a dropbox (which is a folder sharing platform) i have 100+ trading books in PDF form. private message me and ill share.

i want to help this platform, even though i dont make the most money, im most probably the youngest here. and by no means the best trader i want to help everybody with as much as i can, KP post early this week has taught me this.

PLEASE READ IF YOU WANT INFORMATIVE CONTENT BOOKS


trade safe
Joe
  • #527,756
  • Jun 14, 2020 12:20pm Jun 14, 2020 12:20pm
Quoting Marco-Kanto
{quote} Honestly, there’s not enough discussion on the mindset required to be successful in trading. I posted an article here regarding bias and decision making. If this is of interest I can also recommend: Trading In The Zone by Mark Douglas. I once met mysterious man (who wouldn't give me his name) who recommended this to me. He didn't say much, but what he did has become invaluable.
thanx
i will read your article!

I think the most dangerous moment in trading is when you are "convinced" what will happen.
Then price goes against you and instead of taking a minimal loss you hold on because, ofcourse, price has to go your way right?
Thats when losses mount up.
Now your mind tells you you have to hold on because getting out is just too big of a loss, so you have to hold on.
Then you start looking for signs price will come back to your position. On all time frames. With different indicators (ugh).
Hope becomes the strategy.

Its compounding a losing trade that you could have gotten out of but your mind told you that you have to be right.
Traders hate Stop-losses because in essence it is admitting you were wrong and traders just hate that. Their mindset does not want to allow that.

Its something humans do alot in many situations, and its quite destructive.

Anyways, thats why I try to only respond to market movement.
I have no idea what will happen until it does.

just my opinion.
Everyone can do whatever they want.
in wondering about yourself, you forgot what you came here to be part of
  • #527,757
  • Jun 14, 2020 12:27pm Jun 14, 2020 12:27pm
Quoting joesherwood
if anyone would like a link to a dropbox (which is a folder sharing platform) i have 100+ trading books in PDF form. private message me and ill share. i want to help this platform, even though i dont make the most money, im most probably the youngest here. and by no means the best trader i want to help everybody with as much as i can, KP post early this week has taught me this. PLEASE READ IF YOU WANT INFORMATIVE CONTENT BOOKS trade safe Joe
My thoughts are the same Joe. I saw KP's post and thought 'why the fuck am I fighting with people when I could be engaging in meaningful discussion that could help newcomers?'

With that in mind:

My name is Mark and I'm just trying to be a better person.

I've been nothing but aggro on this forum and it stops here. I'm going to start contributing to the thread, rather than just posting to it.
Focus.
  • #527,758
  • Jun 14, 2020 12:29pm Jun 14, 2020 12:29pm
Quoting knkie
{quote} thanx i will read your article! I think the most dangerous moment in trading is when you are "convinced" what will happen. Then price goes against you and instead of taking a minimal loss you hold on because, ofcourse, price has to go your way right? Thats when losses mount up. Now your mind tells you you have to hold on because getting out is just too big of a loss, so you have to hold on. Then you start looking for signs price will come back to your position. On all time frames. With different indicators (ugh). Hope becomes the...

You don't need to read the book. What you've just written is a basic summary!
Focus.
  • #527,759
  • Jun 14, 2020 12:29pm Jun 14, 2020 12:29pm
Quoting knkie
{quote} thanx i will read your article! I think the most dangerous moment in trading is when you are "convinced" what will happen. Then price goes against you and instead of taking a minimal loss you hold on because, ofcourse, price has to go your way right? Thats when losses mount up. Now your mind tells you you have to hold on because getting out is just too big of a loss, so you have to hold on. Then you start looking for signs price will come back to your position. On all time frames. With different indicators (ugh). Hope becomes the...
EGO
Don't trade what you think. Just what you see!!!
  • #527,760
  • Jun 14, 2020 12:37pm Jun 14, 2020 12:37pm
Quoting Marco-Kanto
{quote} My thoughts are the same Joe. I saw KP's post and thought 'why the fuck am I fighting with people when I could be engaging in meaningful discussion that could help newcomers?' With that in mind: My name is Mark and I'm just trying to be a better person. I've been nothing but aggro on this forum and it stops here. I'm going to start contributing to the thread, rather than just posting to it.
Hi Mark

yeah forreal, already find it stressful enough with all thats going on in the world, let alone someone typing something on a keyboard. now its time to trade and win together as well as help, think this is the last place on earth where i dont see"FREE FOREX SIGNALS" etc etc or well it doesn't feel like at least. last place of real traders.
im excited to start an new chapter here on my views and presentation as well as making more money than i know what to do with hehe
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