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Cable Update (GBPUSD)

  • #529,581
  • Jun 19, 2020 4:26pm Jun 19, 2020 4:26pm
Quoting xSpArtAx
The second problem, however, is the SL setting, I have read many opinions on how to set it to 20-30pips, above the last candle indicating the trend, where, over resistance, under resistance, there is so much and I still do not know how to approach it. I was best at 2: 1 profit / risk, but later the man sees that the transaction is going on and it hurts. I am still learning, I know that it is still an immature approach to this business, but it is not so easy to change it, I learn from mistakes in every area of my life, but I can't deal with trading...

Just my 2 cents as there are many opinions on this.

Its not about the amount of pips you set the SL at.
Its about Capital Preservation.
Your SL should reflect your Money Management and Risk Management,
Its a a probability game.
Once you work that out its ok to take a loss.
in wondering about yourself, you forgot what you came here to be part of
  • #529,582
  • Edited 5:40pm Jun 19, 2020 5:00pm | Edited 5:40pm
Pound looks bearish.
After taking out the April Highs, it will now take out the May Lows

Attached Image(s) (click to enlarge)
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Click to Enlarge Name: GBPUSDDaily.png Size: 27 KB
Compulsions can be hard to resist
  • #529,583
  • Jun 19, 2020 7:37pm Jun 19, 2020 7:37pm
Quoting claudia1
{quote} No. London fix is at 16.00 BST. This is a good read for anyone doesn't know what it's all about. https://www.investopedia.com/article...-be-rigged.asp
ok. great. so 11 AM est
Intraday only.
  • #529,584
  • Jun 19, 2020 7:46pm Jun 19, 2020 7:46pm
Quoting knkie
{quote} Just my 2 cents as there are many opinions on this. Its not about the amount of pips you set the SL at. Its about Capital Preservation. Your SL should reflect your Money Management and Risk Management, Its a a probability game. Once you work that out its ok to take a loss.
Absolutely, what you want in fine is Position Sizing.... what means 20-30 pips SL if you go 1 full lot on a small account or in any account ?
what you want to know every time you open a trade, is how much % of your capital you are risking if it go wrong...
Consider using this tool, which is free and will help a lot on this : https://www.earnforex.com/metatrader...ze-Calculator/

there are other tools of course, and I think its better at start to do couple time the calculation by hand but I like this one for MT4.

it may look complicated at first but basically you set your entry (1, blue line), stop loss (2, red line), how much % capital you want to risk (3), and it will give you the right position size to enter the trade (4) .. so you never loose greater than what you plan (5). you can set there also your TP and you R:R but focus on capital preservation before anything.

but also, stop loss are for worst case scenario.. I'm using (trying) more and more the approach 'when in doubt get out' no need to just 'hope' the trade will go in your favor..... would you enter the trade as it look right now ? no ? get out, wait for next entry according to your plan.

Green pips
Attached Image (click to enlarge)
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  • #529,585
  • Jun 20, 2020 12:44am Jun 20, 2020 12:44am
so far so good
Attached Image
Le$$ I$ More
  • #529,586
  • Jun 20, 2020 12:49am Jun 20, 2020 12:49am
Cable is on the table ??? of monthly pivot,prev monthly closing to crack monthly open , 61.8 fib and bullish abcd to close weekly.
not euphoria follower
  • #529,587
  • Edited 1:09am Jun 20, 2020 12:55am | Edited 1:09am
Quoting OnlineAddict
{quote} Trolls like you are the reason many people stopped posting here. Whats the point to defend each trade to satisfy morons like you?
Im not a troll dude. When you see someone like you, high impact member, saying something that doesnt make sense at all I think its fair to remember someone the silly remarks later though. I really enjoyed btw )

Nothing bullish at all about the H4 setup when you wrote the song. Just typical beginners mistake, starte screaming while the candle still running; should have wait for the thing to close. If you have long game; its hard to believe someone making these mistakes after all those years(..) How come so many people subscribed to you?

You can tackle me as well when Im mentioning something that didnt make sense at all, I can handle..
Life is great!!
  • #529,588
  • Jun 20, 2020 1:34am Jun 20, 2020 1:34am
Quoting Roszey
so far so good {image}
Impressive
Data + Stat + Risk/Emotions Management
  • #529,589
  • Jun 20, 2020 1:35am Jun 20, 2020 1:35am
Quoting despichtt
{quote} Im not a troll dude. When you see someone like you, high impact member, saying something that doesnt make sense at all I think its fair to remember someone the silly remarks later though. I really enjoyed btw ) Nothing bullish at all about the H4 setup when you wrote the song. Just typical beginners mistake, starte screaming while the candle still running; should have wait for the thing to close. If you have long game; its hard to believe someone making these mistakes after all those years(..) How come so many people subscribed to you? You...
Please quit this tantrums, let's all focus on how to help each other make something out of this market.
Data + Stat + Risk/Emotions Management
  • #529,590
  • Jun 20, 2020 2:01am Jun 20, 2020 2:01am
My new weekly technical forecast that we can see what was happened with a bit detail in this daily chart where unseen if it is below daily time chart.

I don’t do noise trading on small time chart and just putting the efforts to see the big picture on every pairs.

There are 3 TP levels based on market conditions on GU
The first one to reach would be at 22143
The second one 19165
The third one 14200

Attached Image (click to enlarge)
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As the price goes in favor and reaching another TP, I would reduce my trade size as the trend goes weaker.

We would probably be able to see the price reaches 19165 in the midst of July or even earlier if the market goes in favor due to the riots and pandemic situation in US fade away soon or later.
  • #529,591
  • Jun 20, 2020 2:38am Jun 20, 2020 2:38am
Quoting Tragruel
{quote} https://www.earnforex.com/metatrader...ze-Calculator/
Looks like a useful plug-in. Thanks for sharing.
Focus.
  • #529,592
  • Jun 20, 2020 2:50am Jun 20, 2020 2:50am
Quoting despichtt
{quote} Im not a troll dude. When you see someone like you, high impact member, saying something that doesnt make sense at all I think its fair to remember someone the silly remarks later though. I really enjoyed btw ) Nothing bullish at all about the H4 setup when you wrote the song. Just typical beginners mistake, starte screaming while the candle still running; should have wait for the thing to close. If you have long game; its hard to believe someone making these mistakes after all those years(..) How come so many people subscribed to you? You...
I didn't think I was a troll either.

Next time, counter with something that has more substance than a snippy comment. If a 'high ranking' member makes a post you disagree with, challenge it with your intelligence as opposed to your emotions. It's very easy to draw sides in this game, especially when we're split by the labels 'bulls' and 'bears', but we're all here for the same unifying reason: to make money.

Bulls make money. Bears make money. Pigs get slaughtered.

Let's help each other to not be pigs.
Focus.
  • #529,593
  • Jun 20, 2020 3:10am Jun 20, 2020 3:10am
Quoting Marco-Kanto
{quote} but we're all here for the same unifying reason: to make money. Bulls make money. Bears make money. Pigs get slaughtered. Let's help each other to not be pigs.
another shirt idea Marco

your gonna be raking it in haha
  • #529,594
  • Jun 20, 2020 3:41am Jun 20, 2020 3:41am
Probably going to be buying monday for a bounce off the monthly pivot to the 1.25 region. But I'll wait to see what the daily/weekly pivot and PA shows me.
  • #529,595
  • Edited 7:54am Jun 20, 2020 4:25am | Edited 7:54am
Quoting Marco-Kanto
{quote} I didn't think I was a troll either
I did not forget about you; you were the first one immediately going against my first call for no reason at all. You're just the rigth person to clarify a couple of things before I start ignoring you. No reason at all for calling me some troll for nothing as I was just cynical a bit you see; its not that I harresed him horribly something..

I was around on investing.com for quite some time and that place is really crowded with lots of broker agents trying to lure you to do horrible things. Good example is their cable forum. Some freak called Daylight is just such a person. You need to believe its a professional trader yet totally ignoring all fundamentals. Even seen him encouriging newbees to fight rate cut desiscions for hunderds of pips. It created some audience around him with many characters but most of them is all just the same person(you need to believe its all one big happy pipping family); real sickening stuff all together. The minute I told the true story or warned traders not to do what the freak told them my account was deleted. I experienced this many times; over and over again(..). Didnt really care to open new account as I have nothing to proove for nobody with thausends of comments. I only came back some times again to have nice chat with couple of nice honest traders

At the end, beeing wrong again for hunders of pips, the freak always ends up in some poor money management story making sure you always survive to make only your broker happy at the end. Its in fact baby pipping style; copied from some site with almost same name(its hard to go flat but also almost impossible to make nice coins). These days you need to believe its also always hedged all the time; another winn winn situation for brokers. That way its even easier to always claim victory; it doesnt need to cheat on his previous comments anymore

I wouldnt be suprised at all the same freak also operating on this forum or others; in fact Im pritty sure. Something to think about for everyone around her; especially the ones having long game..

Have a nice weekend!
Life is great!!
  • #529,596
  • Jun 20, 2020 4:30am Jun 20, 2020 4:30am
Quoting adc
{quote} You could extrapolate that bat wing backwards to the initiation of the pattern on 5th June or thereabouts. Rgds, Angus
I'm not sure if this is what you mean.
I usually just draw the correction wing.
my mistake
REGARDS. CH

Attached Image (click to enlarge)
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  • #529,597
  • Jun 20, 2020 4:41am Jun 20, 2020 4:41am
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.
They broke my range below 2400.

So next week a correction higher first. Ideally up rest of the month and then we can do a whipsaw towards 1.20 or below next month, as planned.
Everyone can see the chart, but only a few can actually read it.
  • #529,598
  • Jun 20, 2020 5:29am Jun 20, 2020 5:29am
Quoting OnlineAddict
{quote} They broke my range below 2400. So next week a correction higher first. Ideally up rest of the month and then we can do a whipsaw towards 1.20 or below next month, as planned.
My thoughts precisely
Compulsions can be hard to resist
  • #529,599
  • Jun 20, 2020 6:35am Jun 20, 2020 6:35am
Quoting trumps
{quote} My thoughts precisely
You....

You had A THOUGHT

Did you bang your head?
Beware of robber banks (RB), bad advisors.
  • #529,600
  • Jun 20, 2020 6:36am Jun 20, 2020 6:36am
Quoting OnlineAddict
{quote} They broke my range below 2400.

So next ... towards 1.20 or below next month, as planned.
LOL.

Your range???
Planned what????

1.20????
First it'll not go that deep...
Second...... When 1.45
Beware of robber banks (RB), bad advisors.
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