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Cable Update (GBPUSD)

  • #534,901
  • Jul 11, 2020 3:52pm Jul 11, 2020 3:52pm
Quoting Roszey
The market will surely expose the arrogant.

Well said.

And teaching them humility.
LDFX Trading Ltd
  • #534,902
  • Jul 11, 2020 3:55pm Jul 11, 2020 3:55pm
Quoting martinez1
{quote} yea, i know all that your saying, but that web was for Thursday and besides is just a short term analysis and the Gbpusd drooped that day as it anticipated. i made 60 pips from that move already. Have watched that web for a long time to know how to incoperate it to my trading stlye the days i need it and it helps too For the double top that took place on Friday i also saw it and am already planning to go shorts if it solidifies

Anticipating is the key in trading, well done !

We have a double top that formed Friday on H1/H4, a « bad » head and shoulder meeting a past resistance coupled with a previous daily pinbar followed by a « kind » of a doji on Friday near the daily sma 200.

I am looking for a short as soon as a H4 candle close below the Friday low, anticipation is the key to have a high reward triggering all the stop loss of those being long.
LDFX Trading Ltd
  • #534,903
  • Jul 11, 2020 7:12pm Jul 11, 2020 7:12pm
The second times for small triangle and possible will make a medium triangle in there.
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  • #534,904
  • Jul 11, 2020 8:26pm Jul 11, 2020 8:26pm
...hidden bullish div is building in the 30min osc's so long as price stays well above 2586....but what is of concern in terms of acting on it (possibly timed as a 5min reg bullish div) is that the 2hr (into whose general uptrend a 30min hidden div might indicate - after the pullback) did not make a new trend hi above 2669 before the pullback but rather a lower high @ 2663 . Ie this 30min hidden div based set-up would not be the highest probability signal - should it fully form so a reduced chance of a successful outcome - or at least a reduced chance of a new trend hi above 2669- but this does not mean it will not happen. Just something to be aware of. It's about the probabilities.
Trader with an Edge.
  • #534,905
  • Edited 11:15pm Jul 11, 2020 11:02pm | Edited 11:15pm
Quoting kuroro001
{quote} My system doesn't care about the HH/LL mate, its based on the volatility most likely, when price is going away from specific point. Its a bit like mean return, whenever the price is overextended from its 200MA (or any other), then a return to it is most likely. Trend is bullish on which tf for you?
A serious discussion.

1000 $ Account.

You or me find a right place to buy or sell in a particular day.

The target can be ( only ) 15 to 20 pips.

The right place ( buy or sell ) can go against you by 10 to 15 pips. And whatever your system is.... must give a move up or down by 15 to 20 pips.

The move against your trade.... I just mentioned it for the sake of it. But You take a trade at right place and close it with 150 to 200 $ profit.

But the target must be just 15 to 20 pips only.

As I said, we have a capital of 1000 $ or 2000 $ only.

Every day 1 signal only we trade, but 1 lot we trade.

150 to 200 $ profit in a day. Then we close the PC for the day.

Like this we do every day for 25 days in a month.

Looks great, right ?
Intraday only.
  • #534,906
  • Jul 12, 2020 12:34am Jul 12, 2020 12:34am
My view for next week , long entries above 2590 sl 2539 tp 1 at 2710 (based on weekly trend-lines )
little bit of sense, little bit of luck
Ktr Return This Month: na
  • #534,907
  • Jul 12, 2020 1:16am Jul 12, 2020 1:16am
Quoting navk
{quote} A serious discussion. 1000 $ Account. You or me find a right place to buy or sell in a particular day. The target can be ( only ) 15 to 20 pips. The right place ( buy or sell ) can go against you by 10 to 15 pips. And whatever your system is.... must give a move up or down by 15 to 20 pips. The move against your trade.... I just mentioned it for the sake of it. But You take a trade at right place and close it with 150 to 200 $ profit. But the target must be just 15 to 20 pips only. As I said, we have a capital of 1000 $ or 2000 $ only. Every...

that sounds perfect and easy to achieve.


10 to 15 pips daily.

nice idea.
#Stay blue. /swinger/scalper/
  • #534,908
  • Jul 12, 2020 1:35am Jul 12, 2020 1:35am
Quoting Bones
conclusion ,not really possible of faster chart {image}

Boss look at your chart it doesnt look bullish but also the bulls may take it to 1.28

after watching your daily chart clearly i notice few things

1 we had heavy drop and later consolidated
2 every time price rise into HH price drop
3 i see buyers push price up every time but due to the main cloud they are is heavily bearish the buyers look weak
4 the buyer dont look healthy because every little HH they drop back down



price may continue this way and hit 1.28 without momentum but in the long run i think GU will drop hard soon
MY OPINION NOT FINANCIAL ADVISE
  • #534,909
  • Jul 12, 2020 1:58am Jul 12, 2020 1:58am
Quoting martinez1
I wan to ask a serious question, can i trade 100 lot whereby i use 10 pips as SL? i mean can one scalp with 100 lot in 15 minute chart?
Hi sorry that’s a bit of a strange question for you to ask as you have been here a long time so in that thinking you have been trading the same amount .. surly the spread on that amount would tell you the outcome . As soon as you open the trade you need to be pretty sure your in the right entry point . I have done 50 in my time but got bitten on the bum . So my max now would be 20 . But again depending on my entry thoughts . Regards E
  • #534,910
  • Jul 12, 2020 3:08am Jul 12, 2020 3:08am
Quoting LDFX
{quote} The market is fractal, numerous trends within a trend, the best way for me is to look at one time frame and stick with it, even though others swear only by the 3 TF strategy... « The trend is your friend till it bend » Cheers,
Which tf you look at ? or depending on your strategy you change TF and stick with it?
COT: The precious data ignored
  • #534,911
  • Jul 12, 2020 3:10am Jul 12, 2020 3:10am
Quoting navk
{quote} A serious discussion. 1000 $ Account. You or me find a right place to buy or sell in a particular day. The target can be ( only ) 15 to 20 pips. The right place ( buy or sell ) can go against you by 10 to 15 pips. And whatever your system is.... must give a move up or down by 15 to 20 pips. The move against your trade.... I just mentioned it for the sake of it. But You take a trade at right place and close it with 150 to 200 $ profit. But the target must be just 15 to 20 pips only. As I said, we have a capital of 1000 $ or 2000 $ only. Every...
Looks like a serious business, aiming at doing 15/20% a day. If it works nicely you'll be millionnaire within weeks

I don't know if anyone ever done it before, consistantly

I usually trade from h1 to above (sometimes m15)

So get 15 pips, you'd need to trade m1/m5 max right?
COT: The precious data ignored
  • #534,912
  • Jul 12, 2020 3:27am Jul 12, 2020 3:27am
i still believe we gonna test one more time that long wick monthly candle. unless this month candle close above last month candle, i will be cautious. until that time come i will prefer short every daily high in confident.
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  • #534,913
  • Jul 12, 2020 4:09am Jul 12, 2020 4:09am
Quoting navk
{quote} A serious discussion. 1000 $ Account. You or me find a right place to buy or sell in a particular day. The target can be ( only ) 15 to 20 pips. The right place ( buy or sell ) can go against you by 10 to 15 pips. And whatever your system is.... must give a move up or down by 15 to 20 pips. The move against your trade.... I just mentioned it for the sake of it. But You take a trade at right place and close it with 150 to 200 $ profit. But the target must be just 15 to 20 pips only. As I said, we have a capital of 1000 $ or 2000 $ only. Every...
looks very nice plan,
but what if you lose 2 or 3 trades what is your plan in this situation? you can not built your plan on positive situation only.

in addition, some days you will have more than one opportunity to trade, you will ignore many good opportunity to stick with your plan?
Regards,
  • #534,914
  • Jul 12, 2020 4:18am Jul 12, 2020 4:18am
Market is going to the right
not euphoria follower
  • #534,915
  • Jul 12, 2020 5:16am Jul 12, 2020 5:16am
Quoting forexbaby202
{quote} looks very nice plan, but what if you lose 2 or 3 trades what is your plan in this situation? you can not built your plan on positive situation only. in addition, some days you will have more than one opportunity to trade, you will ignore many good opportunity to stick with your plan? Regards,
yeah, this often... this is how we have been taught, 2 or 3 trades if loss?

Why do we take such trades ?

Be patient until such time you see a trade worth 15 pips to 20 pips.

One can look for an opportunity at Franfurt open/ London open when uch moves happens.

Or even tokyo open when such 20 pips move happenes.

Unless you see an opportunity for 20 pips trade, do not take it.

As simple as that.
Intraday only.
  • #534,916
  • Edited 5:39am Jul 12, 2020 5:28am | Edited 5:39am
Quoting kuroro001
{quote} Looks like a serious business, aiming at doing 15/20% a day. If it works nicely you'll be millionnaire within weeks I don't know if anyone ever done it before, consistantly I usually trade from h1 to above (sometimes m15) So get 15 pips, you'd need to trade m1/m5 max right?
capital can be anything. I just mentioned 1k.

it can be 2 k or 3 k even.

But what I mentioned is dicipline.

Take a trade only when you see an opportunity of 15 to 20 pips.

Not that you take a trade in bullish side ( Because daily is bullish )

Use any TF, 1 min or 5 min or 15 min or whatever... the aim to capture clean 20 pips, not that take a trade and wait/hope it moves one your side which oftern a common trader does.

Our intention is to make money only, It is not at all needed to analyze and say whether the price goes from 1.2600 to 1.2700 or 1.2600 to 1.2500?
Intraday only.
  • #534,917
  • Jul 12, 2020 5:42am Jul 12, 2020 5:42am
Hello everybody,

Please can anyone recommend a book that I can read to learn more about trading crude oil in the forex market mt4 platform.

Thanks in advance.
  • #534,918
  • Edited 5:56am Jul 12, 2020 5:44am | Edited 5:56am
Quoting navk
{quote} A serious discussion. 1000 $ Account. You or me find a right place to buy or sell in a particular day.....
By trading 1 lot from $1000 or $2000 you are talking about 100:1 or 50:1 leverage respectively. Your scenario doesn't take into account the negative and destabilising effects of a loss of say 15-20% (using the 100:1 example) if your stop is hit to say nothing of 2+ consecutive losing trades or more. Rate of recovery required % increases (ie amount of recovery as a % of your remaining margin after such a loss [s] ] Ie after say a loss of 20% you need a recovery of 25% ie 20 pips as a % of 80% remaining margin = 25%. It is the psychology of it that will doom it to failure and this is assuming you have a very high winning strike rate edge. Even assuming this you need to know the % chances of a consecutive loss of 1,2,3 trades etc given the edge's historical strike rate to that point.

The chances of success of such an exercise are therefore very low, even if you have such an edge, because for most traders - psychology will intervene and it is for this reason [even assuming you have the other necessary stuff right and that for most is a big if] for almost all traders - this is a sure route to the poorhouse.

Re the above I would go further by saying (as a general point) that what every trader needs to know about their edge, and put simply is as follows;

Over any given sample(s) size of trades -

1. It's winning strike rate.
2. It's rate of recovery required at it's strike rate at any given drawdown.
3. It's % chances of any given drawdown at it's strike rate.
4. It's average winning trade.
5. It's average losing trade.
6. It's largest winning trade.
7. It's largest losing trade.
8. Where the most trades have fallen in the sample re points 4-7.

If you do not know these stats - you are effectively trading blind.
Trader with an Edge.
  • #534,919
  • Jul 12, 2020 5:44am Jul 12, 2020 5:44am
That right ,but then if it doesn't, then its read as arrogance by the new guy = but its actually not.
lets see

Quoting Roszey
The market will surely expose the arrogant.
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On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #534,920
  • Jul 12, 2020 5:45am Jul 12, 2020 5:45am
Quoting Olabanji-Tex
Hello everybody, Please can anyone recommend a book that I can read to learn more about trading crude oil in the forex market mt4 platform. Thanks in advance.
Hi

i dont know if i have one that specific haha but i have a folder with lots of trading books, you can look through and see, link below


https://www.dropbox.com/sh/joz8qzjgk...uir5xZmOa?dl=0

I hope this can help?

Joe
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