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Cable Update (GBPUSD)

  • #529,541
  • Jun 19, 2020 11:42am Jun 19, 2020 11:42am
Quoting joesherwood
{quote} Hi Scotteyy yes I consistently make 2% a day, if I hit 3% by mid morning I leave the desk for the day. as I only trade till before nY open. I currently hold about an 89% WR. losing streaks I find rare but happen now and then, all part of the game and staying composed and moving forward.
Nice I've only been in the game 4 months. I was down 40% within 2 months. Now only down 15%, hoping to hit break even by the 6 month mark but if it doesn't happen then that's fine too. 89% win rate is insane whats your RR?
  • #529,542
  • Jun 19, 2020 11:45am Jun 19, 2020 11:45am
Quoting joesherwood
{quote} Hi Scotteyy yes I consistently make 2% a day, if I hit 3% by mid morning I leave the desk for the day. as I only trade till before nY open. I currently hold about an 89% WR. losing streaks I find rare but happen now and then, all part of the game and staying composed and moving forward.
2% a day, 40-50% in month & 480%-600% in a year! You gonna be billionaire soon!!
  • #529,543
  • Edited 12:00pm Jun 19, 2020 11:49am | Edited 12:00pm
Perhaps the stock market are trying to fill the gap below, which was left with the coronavirus, I would only buy pairs against the dollar, if the indexes fall with the dollar, otherwise it goes up.
the month candle in gu looks like it's being blown out.
  • #529,544
  • Jun 19, 2020 11:51am Jun 19, 2020 11:51am
Quoting Scotteyy
{quote} Nice I've only been in the game 4 months. I was down 40% within 2 months. Now only down 15%, hoping to hit break even by the 6 month mark but if it doesn't happen then that's fine too. 89% win rate is insane whats your RR?
hi scoteyy

you got this bud, that's a great comeback, it happens man, 2 weeks ago I think I was down 4% by Tuesday, I decided to take the rest of the week off and revise the markets. I then came back the following week and made 2% Monday and Tuesday, im now BE. its all about just thinking of the future, markets always gonna be here. people focus on I wanna make 100k a million whatever but they never focus on just being consistent, I wanna make those figures and I will, it won't happen for a long time but that's the ultimate goal. but rn im happy with what I make day in day out.

regarding ratio, I use standard 2.1. 40 pip tp and 20 pip sl, I have alerts so once it is +20 pips running I make the trade risk free, I used to scalp very quickly and place 100 trades a day but I couldn't see longevity in it, so im doing more scalp to day trades now

I will always show the good and bad in my trading experience is all good seeing people make thousand but what for they lose to get to that point, it all about the process. and im looking forward to it.

wish you well man


Joe
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  • #529,545
  • Jun 19, 2020 11:53am Jun 19, 2020 11:53am
Quoting Xarras
{quote} 2% a day, 40-50% in month & 480%-600% in a year! You gonna be billionaire soon!!
I can only wish. thanks for the kind comment xarras. much appreciated!

trade safe bro.

Joe
  • #529,546
  • Jun 19, 2020 11:55am Jun 19, 2020 11:55am
I want to clarify before someone starts commenting hate this is not bragging im actually doing totally the opposite, I always show my losses and wrong calls. ive been doing this a year and a half. im 19, I have no way as much experience or capital to some people in here, I just wanted to put this out before I see someone misunderstanding what im trying to say to people quoting my posts

wish you all well and a green week

have a good weekend

Joe
  • #529,547
  • Jun 19, 2020 12:00pm Jun 19, 2020 12:00pm
Quoting joesherwood
{quote} hi scoteyy you got this bud, that's a great comeback, it happens man, 2 weeks ago I think I was down 4% by Tuesday, I decided to take the rest of the week off and revise the markets. I then came back the following week and made 2% Monday and Tuesday, im now BE. its all about just thinking of the future, markets always gonna be here. people focus on I wanna make 100k a million whatever but they never focus on just being consistent, I wanna make those figures and I will, it won't happen for a long time but that's the ultimate goal. but rn...
like I said to smikester a month back i dont like complaining, especially to other people, just not personality, my mindset is forget and get back out there, im also very humbled to find such a awesome craft that i enjoy. I find myself very fortunate to find this so early on in my life. So why should i complain. Thats my method of thinking. I also despise over trading from learning the hard way when starting out, so if i make enough im content with i dont look at the charts and leave my desk. Couple weeks back i started a couple days off with negative trades if the day doesn't look promising i try my best to hit BE and call it. Nothing wrong with it imo.

At the end of the day bud my goal for my life is to have a lot of money, plain and simple, everyone is different. Maybe because im still young I still haven't experienced life to the fullest but at this point in time its all i think about. Its what fuels me to get up early and fall asleep late, forex has looked after me with some things and i feel like im only just starting, so im very interested in my future. I never shy away from people who haven't different aspirations or goals as i love to here them, i love people who have a passion.

I wish you well trading bro, best time to learn haha, I look forward to see you bagging profits


Joe
  • #529,548
  • Jun 19, 2020 12:00pm Jun 19, 2020 12:00pm
Quoting KeenPips
Good to close the week in profit and avoid giving all back to the market. KP {quote}
this has happened to me many fridays, I now stopped countering the trend especially on Fridays.
Intraday only.
  • #529,549
  • Jun 19, 2020 12:02pm Jun 19, 2020 12:02pm
Quoting joesherwood
{quote} hi scoteyy you got this bud, that's a great comeback, it happens man, 2 weeks ago I think I was down 4% by Tuesday, I decided to take the rest of the week off and revise the markets. I then came back the following week and made 2% Monday and Tuesday, im now BE. its all about just thinking of the future, markets always gonna be here. people focus on I wanna make 100k a million whatever but they never focus on just being consistent, I wanna make those figures and I will, it won't happen for a long time but that's the ultimate goal. but rn...
Hi Joe, appreciate the encouraging words. I feel like I have my strategy down now. A lot of my losses were down to silly mistakes I assume most traders make in the beginning, trading when spreads are large, too tight SL, over trading, no patience. My original strategy was a momentum based strategy, 15m timeframe, follow the trend, when price returns to 50 EMA then enter with 25 SL 50 TP. I believe it works however I never incorporated price action or waited for confirmation and I think that was my downfall with that strategy. I'm now using a more pivot based strategy that I prefer as RR is more like 1:3, 1:4. Just one thing though according to your average wins/losses isn't your RR more like 2:1 (Risk:Reward)?
  • #529,550
  • Jun 19, 2020 12:05pm Jun 19, 2020 12:05pm
Quoting joesherwood
{quote} hi navk I don't know if you've seen me say before but I only trade UK morning, I hop in the charts at 5am and do my look through of the charts and trade premarket to before NY open, I don't like trading in the afternoon, I found what I do well at it and stick to it. so my typical trading day is 5am to midday. however same days like last week I hit my goal by 9am. I then leave the desk and come back at night and read through the forum to see how the days gone. once I call it I don't look at charts again or try not too, find myself questioning...
this is good stuff.

People concentrate only Frankfurt open to London close.

And I am sure, one can make one safe trade from London open.
Intraday only.
  • #529,551
  • Jun 19, 2020 12:06pm Jun 19, 2020 12:06pm
Quoting joesherwood
{quote} like I said to smikester a month back i dont like complaining, especially to other people, just not personality, my mindset is forget and get back out there, im also very humbled to find such a awesome craft that i enjoy. I find myself very fortunate to find this so early on in my life. So why should i complain. Thats my method of thinking. I also despise over trading from learning the hard way when starting out, so if i make enough im content with i dont look at the charts and leave my desk. Couple weeks back i started a couple days off...
Honestly I've always had an interest in stocks/forex since I was a young teenager. I'm now studying economics at university so it all just seems to fit together nicely. Honestly I'd love to do this full time, I can't imagine myself stuck in a 9-5 job for the rest of my life. I hope I manage to start bagging profits, I'm in this for the long term and I just see the losses as lessons. Yeh I have a bit of a problem with revenge trading however I'm slowly moving away from that now. I've told myself if I have 3 consecutive losers to take a step back for a day or two and re-analyse with a fresh mind.
  • #529,552
  • Jun 19, 2020 12:07pm Jun 19, 2020 12:07pm
Bud, whenever I trade on Fridays, I rarely go beyond the London session.

Stay safe, trade safe.

KP

Quoting navk
{quote} this has happened to me many fridays, I now stopped countering the trend especially on Fridays.
Do your homework, follow the footprints of smart money
  • #529,553
  • Jun 19, 2020 12:12pm Jun 19, 2020 12:12pm
Quoting KeenPips
Bud, whenever I trade on Fridays, I rarely go beyond the London session. Stay safe, trade safe. KP {quote}
London closes at 11 AM EST ? Right ?
Intraday only.
  • #529,554
  • Edited 1:37pm Jun 19, 2020 12:15pm | Edited 1:37pm
Quoting navk
{quote} London closes at 11 AM EST ? Right ?
Yes at fix closed 11.30
  • #529,555
  • Jun 19, 2020 12:18pm Jun 19, 2020 12:18pm
Whilst I’m online

for ANYONE who wants 100+ trading books from trends to mindset and veryhting feel free to Dm me. I have a free to see link. I had a lot people Dm me last time, very informative content for ones who are looking for more info.


anyway let’s enjoy the weekend
joe
  • #529,556
  • Jun 19, 2020 12:26pm Jun 19, 2020 12:26pm
@ Joesherwood and Scotteyy, you Guys are young and nice to see the vibrant interaction between yourselves. It is refreshing. You have your lives ahead of you and stick at it. Us old dogs can only look in admiration. At your age, I never knew about forex and I can only imagine the wealth of knowledge you will gain as years go by.

Have a great Journey,
Cheers.
Trade to trade another day
  • #529,557
  • Jun 19, 2020 12:38pm Jun 19, 2020 12:38pm
Quoting Wavegarrick
@ Joesherwood and Scotteyy, you Guys are young and nice to see the vibrant interaction between yourselves. It is refreshing. You have your lives ahead of you and stick at it. Us old dogs can only look in admiration. At your age, I never knew about forex and I can only imagine the wealth of knowledge you will gain as years go by. Have a great Journey, Cheers.
Thank you for the kind words. Well I can only look to you elders to increase my knowledge and hopefully make this a full time thing!
  • #529,558
  • Jun 19, 2020 12:42pm Jun 19, 2020 12:42pm
Quoting navk
{quote} London closes at 11 AM EST ? Right ?
I'm not sure.

There's settlement or fix what a name at 3PM UK, 10 EST.

Beware
Beware of robber banks (RB), bad advisors.
  • #529,559
  • Jun 19, 2020 12:47pm Jun 19, 2020 12:47pm
Quoting Scotteyy
{quote} Nice I've only been in the game 4 months. I was down 40% within 2 months. Now only down 15%, .. RR?
Patience. And wisdom will come with experience .



Quoting joesherwood
Whilst I’m online for ANYONE who wants 100+ trading books from ... ime, very informative content for ones who are looking for more info. anyway let’s enjoy the weekend joe
Again. Patience and experience and looking deeper.



Let me just say one thing - all these books, all this noise, advertising, quick profits, sure fire systems .
Are mostly useless...
They (books, etc) are written by failed traders, bancrupted poor souls, paid 3 dollars a page.....

Sooooo think before absorbing their advice

I had few posters (search my history ) and the name Yohay (here in FF) as horrible examples of "gurus".


Patience and make your own system to fit YOUR TRADING.

Green pips!!!
Beware of robber banks (RB), bad advisors.
  • #529,560
  • Jun 19, 2020 12:52pm Jun 19, 2020 12:52pm
Quoting Not-KPMG
{quote} Patience. And wisdom will come with experience . {quote} Again. Patience and experience and looking deeper. Let me just say one thing - all these books, all this noise, advertising, quick profits, sure fire systems . Are mostly useless... They (books, etc) are written by failed traders, bancrupted poor souls, paid 3 dollars a page........
It depends there will always be someone more fortunate,smarter, Patience and discipline are acquired with experience, but wisdom is not always .
the person can also be intelligent and acquire patience and discipline over time ... each person is different.
Best Regards.
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