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Cable Update (GBPUSD)

  • #530,501
  • Jun 23, 2020 4:56pm Jun 23, 2020 4:56pm
Quoting Scotteyy
{quote} As I said previously I am new, been trading 4 months. I'm completely aware that I have a lot to learn and however I also know I have a plan that works from back-testing its just the psychological aspect of trading (listening to others being a part of this) which fails me however I'm sure I'll eventually get that under control. Honestly I think I'd be better waiting for my entry setting SL and TP then just walking away for an hour or so. Do appreciate the advice though, always happy to receive some knowledge from people with the know-how....
It’s not easy . Even I have to go out for a walk with the dogs and ask the question why did I do that .. when you can answer that type of question time after time you start to see things different.. don’t trade big lots . You won’t get rich quick . You might get very luck but trading cable unless your aware that money could soon be taken back ..
  • #530,502
  • Jun 23, 2020 5:02pm Jun 23, 2020 5:02pm
Quoting OnlineAddict
2530 London fix...might drop from here, without looking back.
Drop should continue tomorrow. Something I don't get...price was below 2350 and everyone was talking about shorts...now price is above 2500 and everyone is talking about longs. Sell the bottom and buy the top, I guess.
Everyone can see the chart, but only a few can actually read it.
  • #530,503
  • Jun 23, 2020 5:02pm Jun 23, 2020 5:02pm
Quoting elbert3
{image}{quote} Nice clean chart I hope you and I both think that it’s confirmed breakout to the high side shoul take the price short . But it’s cable and it’s sneereerkie . Regards E
Hi Elbert.
Unsure what you're saying.
Breakout upside - bullish?
Or take price short-bearish?
Compulsions can be hard to resist
  • #530,504
  • Jun 23, 2020 5:03pm Jun 23, 2020 5:03pm
I decided to post comment-in GU only H4 trend is clean.I see bull move H4 in Gu it can continue from here(i mean situation today) or it can have correction maybe for 50-60-70 pips,but it stays!!!! bull h4.How people can trade this H4 trend with stop 10pips.ITS unreal.
  • #530,505
  • Jun 23, 2020 5:04pm Jun 23, 2020 5:04pm
Quoting OnlineAddict
{quote} Drop should continue tomorrow. Something I don't get...price was below 2350 and everyone was talking about shorts...now price is above 2500 and everyone is talking about longs. Sell the bottom and buy the top, I guess.
Not everyone my friend.
A few buyers, a few sellers.
That's what's actually happening.
Compulsions can be hard to resist
  • #530,506
  • Jun 23, 2020 5:04pm Jun 23, 2020 5:04pm
Quoting elbert3
{quote} It’s not easy . Even I have to go out for a walk with the dogs and ask the question why did I do that .. when you can answer that type of question time after time you start to see things different.. don’t trade big lots . You won’t get rich quick . You might get very luck but trading cable unless your aware that money could soon be taken back ..
Yeh I'm big on risk management, that's one thing I can stick to. I'm trading minimum lot sizes which is like 0.05 on my broker and my risk per trade tends to be around 0.5%. I told myself I'd do this until I ATLEAST got back to break-even (which I'm very slowly getting there) or more likely have 3 consecutive months of profitability after I hit break-even. But even then it would be a slow increase, then maybe even a decrease if I start dropping again.
  • #530,507
  • Jun 23, 2020 5:05pm Jun 23, 2020 5:05pm
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Quoting joesherwood
{quote} good words E always respected your work, great stuff keep killing it Joe
Joe keep going mate well done . Zooooom out at times make your chart small and have a different view .. that to all mate
  • #530,508
  • Jun 23, 2020 5:08pm Jun 23, 2020 5:08pm
Quoting trumps
{quote} Hi Elbert. Unsure what you're saying. Breakout upside - bullish? Or take price short-bearish?
See last post chart . If I knew 100% we would all be rich . I just as you offer opinions. Take care regards E
  • #530,509
  • Jun 23, 2020 5:10pm Jun 23, 2020 5:10pm
Quoting trumps
{quote} Not everyone my friend. A few buyers, a few sellers. That's what's actually happening.
Well, its never everyone.
Everyone can see the chart, but only a few can actually read it.
  • #530,510
  • Jun 23, 2020 5:13pm Jun 23, 2020 5:13pm
tomorrow most of people short gu and history repeats.
  • #530,511
  • Jun 23, 2020 5:13pm Jun 23, 2020 5:13pm
Quoting elbert3
{image}{quote} Joe keep going mate well done . Zooooom out at times make your chart small and have a different view .. that to all mate
I think we started the path towards 2260. But, of course, pound has its own mind and can do a few scares before that. I would prefer if it didn't.
Everyone can see the chart, but only a few can actually read it.
  • #530,512
  • Jun 23, 2020 5:16pm Jun 23, 2020 5:16pm
Quoting OnlineAddict
{quote} Drop should continue tomorrow. Something I don't get...price was below 2350 and everyone was talking about shorts...now price is above 2500 and everyone is talking about longs. Sell the bottom and buy the top, I guess.
Hi O remember my post Sunday I think .. Kpmg the keeper of posts lol will know I said be careful the price for tl attraction was or should of been 2325 .. when gbj had a gap at 136. The powers that be sold the fu...-e off at 135.500 now that was a kick in my teeth as I had my tp from 131 at 136 I had to hold that trade for weeks but it finally got there .. and they have done the same on Sunday .. how it works I don’t know ???? nkpng is right . Robbers and manipulation.. night all sorry to have gone on regards E
  • #530,513
  • Jun 23, 2020 5:17pm Jun 23, 2020 5:17pm
I seriously wonder why most traders cannot tolerate floating negative of 80-150 pips and start moaning about potential negative. To stay in this market you must have definite trade plans ahead of time and no price movement no matter the volatility should shock you as traders must have plan A and Plan B to combat the erratic price structures and supply imbalances.

Most cases bulls have their time and bears also have their time, staying true to a direction amidst trade storm can be beneficial and can also be disastrous...

Never buy at the top of a range
Never Sell at the bottom of a range
Never go against a developing trend
Never trade if you can't put your emotions in check
Never trade with lot sizes that will make negative 100 pips look like negative 1000 pips

You scalp 15 pips in multiple places in a ranging market only to get carried away and not pay attention to break out zones that will take all your scalped pips away and even more...

You keep applying multiple indicators and make the chart look like world war 2 scene and keep believing in Mirage of seeing the market clearly...

You keep using indicators that are provided by robber Banks which will sometimes lag behind and cause misplaced entries and exits...

The BRUTAL TRUTH is that indicators only respond to PRICES... And you need to find out the X Factor that PRICES respond to with well defined plan and risk management measures.

Stop moaning over less than significant floating trades and focus more on the price actions.
Data + Stat + Risk/Emotions Management
  • #530,514
  • Jun 23, 2020 5:27pm Jun 23, 2020 5:27pm
Quoting Georginson
Now wait for defensive attack by selling at 1.2500/1.2530 level for target of 1.2310
Here is a post since 36 hours ago when price was trading at 1.2385 level already anticipating 1.2530 level... Always anticipate ahead of time... Take your time and prepare. Never let any price movement catch you off guard.
Data + Stat + Risk/Emotions Management
  • #530,515
  • Jun 23, 2020 5:29pm Jun 23, 2020 5:29pm
Quoting elbert3
{quote} Hi O remember my post Sunday I think .. Kpmg the keeper of posts lol will know I said be careful the price for tl attraction was or should of been 2325 .. when gbj had a gap at 136. The powers that be sold the fu...-e off at 135.500 now that was a kick in my teeth as I had my tp from 131 at 136 I had to hold that trade for weeks but it finally got there .. and they have done the same on Sunday .. how it works I don’t know ???? nkpng is right . Robbers and manipulation.. night all sorry to have gone on regards...
that is why i miss Nkpmg. hahaha... just follow people here will kill u. at least i follow my chart and have fun with the thread (not joining)
row row row your boat
  • #530,516
  • Jun 23, 2020 5:35pm Jun 23, 2020 5:35pm
Quoting Georginson
{quote} We are getting to the tail end of the bearish move, towards the end price often show massive aggression to scare retail traders off and take profit which will be many retail traders loss. 1.2745 withing 3-6 weeks, then 1.35 by October/November. This might sound like a joke but it will happen. Cheers
Here is my quote from May 15 (10:15pm) when price closed the week at 1.2100 I made a call price will move to 1.2745 within 3-6 weeks and it did move to 1.2745 level within 4 weeks. I remember back then I had many people attacking my projection and were even mentioning 1.14 back then....

Prepare ahead... Forex trading is a marathon not a sprint.
Data + Stat + Risk/Emotions Management
  • #530,517
  • Jun 23, 2020 5:35pm Jun 23, 2020 5:35pm
Quoting elbert3
{quote} Hi O remember my post Sunday I think .. Kpmg the keeper of posts lol will know I said be careful the price for tl attraction was or should of been 2325 .. when gbj had a gap at 136. The powers that be sold the fu...-e off at 135.500 now that was a kick in my teeth as I had my tp from 131 at 136 I had to hold that trade for weeks but it finally got there .. and they have done the same on Sunday .. how it works I don’t know ???? nkpng is right . Robbers and manipulation.. night all sorry to have gone on regards...
I wouldn't dare to touch GJ anymore, other than for monday scalps off friday's moves. I still have nightmares from some GJ trades many years back.
Everyone can see the chart, but only a few can actually read it.
  • #530,518
  • Jun 23, 2020 5:38pm Jun 23, 2020 5:38pm
Quoting OnlineAddict
{quote} Drop should continue tomorrow. Something I don't get...price was below 2350 and everyone was talking about shorts...now price is above 2500 and everyone is talking about longs. Sell the bottom and buy the top, I guess.
i see GU to 1.27 SL 1.24
  • #530,519
  • Jun 23, 2020 5:39pm Jun 23, 2020 5:39pm
Quoting elbert3
{quote} See last post chart . If I knew 100% we would all be rich . I just as you offer opinions. Take care regards E
Thanks.
Seems your bullish then.
We are opposites then I guess.
Compulsions can be hard to resist
  • #530,520
  • Jun 23, 2020 5:45pm Jun 23, 2020 5:45pm
I maintain a bearish stand with weekly possible top at 1.2535-1.2575 before a quick and aggressive drop to 1.2310-1.2280 levels... Price trading at 1.2522 as at time of typing.
Data + Stat + Risk/Emotions Management
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