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Cable Update (GBPUSD)

  • #533,401
  • Jul 7, 2020 5:17am Jul 7, 2020 5:17am
Quoting kuroro001
{quote} Retail very short though {image}
I'd like to think most retail are long..

One can sense that even here in GU thread.

SS
  • #533,402
  • Jul 7, 2020 5:25am Jul 7, 2020 5:25am
Quoting Georginson
THE UNKNOWNS OF FOREX TRADING ( A PERSPECTIVE OF GBPUSD) The alarming rate of losses in forex trading is worrisome, studies have shown that 75-85% of retail forex traders lose money. We are all provided with arrays of analysis to evaluate in order to make our trading decisions. These analysis are TECHNICAL, FUNDAMENTAL and SENTIMENT analysis, which must all align to make good trading decisions. We are still confronted with our own INTERNAL ANALYSIS which has to do with RISK AND EMOTIONS MANAGEMENT. In all we have 5 major Analysis to contend with...
Thanks! To see big picture probably need to work with ranges and mean reversion, but for short period of time it's enough to see where MM buying,where at strong support,resistant,just to follow footprints,and look for weird things,like price is lying, with divergence,volume divergence, or other things, everything is working,just need to know conditions,but like one guy wrote,draw as many lines as you can,connect dots,and don't wait for confirmation
  • #533,403
  • Jul 7, 2020 5:39am Jul 7, 2020 5:39am
gbpnzd.
long. 1.91191
sl, tp open.
  • #533,404
  • Jul 7, 2020 5:39am Jul 7, 2020 5:39am
I see here various posts, with medium term to long term perspectives.

To be more useful to this thread, if they write kind of objectives of their analysis while they post.

The retailers here, most are with small capital and try to trade with kind of accuracy, as most are day traders/scalpers.

There is bounce from 2462 now to 2500 almost. This is to be watched.
Intraday only.
  • #533,405
  • Jul 7, 2020 5:42am Jul 7, 2020 5:42am
Who is feeling pain? I know market is just market,but somehow it makes you feel pain,or have a hope that tommorow gbpusd will reach 1.2527
  • #533,406
  • Jul 7, 2020 5:44am Jul 7, 2020 5:44am
Attached Image (click to enlarge)
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Attached Image (click to enlarge)
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Attached Image (click to enlarge)
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yes yes yes
  • #533,407
  • Jul 7, 2020 5:47am Jul 7, 2020 5:47am
Quoting Georginson
THE UNKNOWNS OF FOREX TRADING ( A PERSPECTIVE OF GBPUSD) The alarming rate of losses in forex trading is worrisome, studies have shown that 75-85% of retail forex traders lose money. We are all provided with arrays of analysis to evaluate in order to make our trading decisions. These analysis are TECHNICAL, FUNDAMENTAL and SENTIMENT analysis, which must all align to make good trading decisions. We are still confronted with our own INTERNAL ANALYSIS which has to do with RISK AND EMOTIONS MANAGEMENT. In all we have 5 major Analysis to contend with...
Great and well informative post for those that do not trade on short term but are swing traders. however can you explain why compare 2018 high price with 2013 low price and 2017 high price with 2015 low price?
  • #533,408
  • Jul 7, 2020 5:49am Jul 7, 2020 5:49am
Quoting Roszey
{quote} After the Targetish.... then boom melt down
Just wondering are you going long on the break out or short on the melt down or even better both?
Don't trade what you think. Just what you see!!!
  • #533,409
  • Jul 7, 2020 5:51am Jul 7, 2020 5:51am
Trading is like working out...if you do too much of it, the effect will be the opposite of what you want. I used to think that if I do not open trades for a day or two, I am losing money. Eventually I learned that thats how I make the most money...because being in a trade makes you biased in that direction and sometimes you can't see the forest for the trees.
Everyone can see the chart, but only a few can actually read it.
  • #533,410
  • Jul 7, 2020 5:54am Jul 7, 2020 5:54am
Quoting OnlineAddict
Trading is like working out...if you do too much of it, the effect will be the opposite of what you want. I used to think that if I do not open trades for a day or two, I am losing money. Eventually I learned that thats how I make the most money...because being in a trade makes you biased in that direction and sometimes you can't see the forest for the trees.
Intraday only.
  • #533,411
  • Jul 7, 2020 5:55am Jul 7, 2020 5:55am
Quoting OnlineAddict
Trading is like working out...if you do too much of it, the effect will be the opposite of what you want. I used to think that if I do not open trades for a day or two, I am losing money. Eventually I learned that thats how I make the most money...because being in a trade makes you biased in that direction and sometimes you can't see the forest for the trees.
Now, this makes all the sense..
Sometimes, trading only on a FRIDAY will make one all the cash they need

SS
  • #533,412
  • Jul 7, 2020 5:56am Jul 7, 2020 5:56am
Quoting OnlineAddict
because being in a trade makes you biased in that direction and sometimes you can't see the forest for the trees.
10 stars for this staement.
Intraday only.
  • #533,413
  • Jul 7, 2020 5:57am Jul 7, 2020 5:57am
there were days, I used to take trade only Frankfurt open which is usually fast, some easy 30 pips. And then london open some 40 points easily.

Be done wit that the whole day.

Yeah
Intraday only.
  • #533,414
  • Jul 7, 2020 5:58am Jul 7, 2020 5:58am
Quoting navk
I see here various posts, with medium term to long term perspectives. To be more useful to this thread, if they write kind of objectives of their analysis while they post. The retailers here, most are with small capital and try to trade with kind of accuracy, as most are day traders/scalpers. There is bounce from 2462 now to 2500 almost. This is to be watched.
Agree, as price is moving up, we need to look for exhaustion at key levels from which we can sell from. Last trade Sell 1.2495 for 7 pips.
Waiting for a new chance to sell.
No pressure trading this way.
Trading thin liquidity at the boundary of the charts
  • #533,415
  • Jul 7, 2020 6:02am Jul 7, 2020 6:02am
Quoting JayBag
{quote} Now, this makes all the sense.. Sometimes, trading only on a FRIDAY will make one all the cash they need SS
Indeed, many times mondays or fridays alone make more money than scalping all week combined. And with much less stress involved.
Everyone can see the chart, but only a few can actually read it.
  • #533,416
  • Jul 7, 2020 6:03am Jul 7, 2020 6:03am
Quoting RickM
{quote} Agree, as price is moving up, we need to look for exhaustion at key levels from which we can sell from. Last trade Sell 1.2495 for 7 pips. Waiting for a new chance to sell. No pressure trading this way.
Good, what makes you not to take long at 2462, which is support ?

You could have gained some 30 pips?

Because you want to sell only?

Just a question.

A retail trader with wrong MM ( uSUALLY ) would have burnt their capital in the move from 2438( friday ) to 2520 ( today ) if he was holding short if he is addicted to short.

What do you think ?
Intraday only.
  • #533,417
  • Jul 7, 2020 6:03am Jul 7, 2020 6:03am
Quoting JayBag
{quote} I'd like to think most retail are long.. One can sense that even here in GU thread. SS
majority short so go apposite long
Attached Image (click to enlarge)
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  • #533,418
  • Jul 7, 2020 6:03am Jul 7, 2020 6:03am
Attached Image (click to enlarge)
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I'm waiting this h1 supply area
  • #533,419
  • Jul 7, 2020 6:04am Jul 7, 2020 6:04am
Quoting navk
{quote} Good, what makes you not to take long at 2462, which is support ? You could have gained some 30 pips? Because you want to sell only? Just a question. A retail trader with wrong MM ( uSUALLY ) would have burnt their capital in the move from 2438( friday ) to 2520 ( today ) if he was holding short if he is addicted to short. What do you think ?
Easy money selling against market orders. Selling again now
Trading thin liquidity at the boundary of the charts
  • #533,420
  • Jul 7, 2020 6:08am Jul 7, 2020 6:08am
i have this kind of chart, no complications.

simple.

I decide what to do when Tokyo opens and frankfurt opens and london opens.

NY, mostly I try to take counter trend trade after 1 PM est
Attached Image (click to enlarge)
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Intraday only.
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