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Cable Update (GBPUSD)

  • #534,921
  • Jul 12, 2020 5:51am Jul 12, 2020 5:51am
Quoting Ehminiz
{quote} that sounds perfect and easy to achieve. 10 to 15 pips daily. nice idea.

lol...so do it then !
Trader with an Edge.
  • #534,922
  • Jul 12, 2020 5:59am Jul 12, 2020 5:59am
Quoting navk
{quote} 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...
Well said.
Don't limit yourself!!
  • #534,923
  • Edited 6:19am Jul 12, 2020 6:01am | Edited 6:19am
Hi Don
I have given the longer term outlook ,be careful because you're looking at a low tf to judge it.D1 is a fast TF for forecasting far, nearly all the time.
I gave parameters based on medium term tf ,on that TF it is not in a downtrend.In fact I read uptrend as stated.
On medium term at that level its side as its been for a few years ,but periodically pushing lower.
The daily right now is not clear, the daily bear failed so far ,but it is a major level .


Quoting donfriday
{quote} 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
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #534,924
  • Jul 12, 2020 6:07am Jul 12, 2020 6:07am
Quoting Headland
{quote} 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...
I take note of your points.

This is how we have been taught about trading.

Our success is consistent in following those points? Our accounts growing faster ? Or make 3 % one day and loose 3 % next day. What is the use ?

The moto I want to discuss is take a confirmed entry, using your more accurate method, look for 20 pips only, then quit trading for the day.
Intraday only.
  • #534,925
  • Jul 12, 2020 6:09am Jul 12, 2020 6:09am
Quoting Headland
{quote} lol...so do it then !
It is just a discussion, and one can try it an demo , practice this method. And one should treat demo like real account.
Intraday only.
  • #534,926
  • Jul 12, 2020 6:12am Jul 12, 2020 6:12am
Quoting navk
{quote} It is just a discussion, and one can try it an demo , practice this method. And one should treat demo like real account.
What method?
  • #534,927
  • Jul 12, 2020 6:14am Jul 12, 2020 6:14am
Quoting q_import
{quote} What method?
trading method.

I am not talking a technical method.

A technical method can be in 5 or 15 min chart with more accurate indicators what you trust the more.
Intraday only.
  • #534,928
  • Jul 12, 2020 6:14am Jul 12, 2020 6:14am
For instance I can read that daily on the day and say thats a firm top.But most the time the market is not that generous...
How it knows Covid is round the corner and there be a massive liquidity problem on the $ later, I do not know.
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On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #534,929
  • Jul 12, 2020 6:14am Jul 12, 2020 6:14am
Quoting navk
And one should treat demo like real account.
Impossible. Brain knows there is nothing to lose on demo...trader makes completely different trades as on a real account. Psychology is 50-80% of trading and fear is an important part of that psychology.
Everyone can see the chart, but only a few can actually read it.
  • #534,930
  • Jul 12, 2020 6:17am Jul 12, 2020 6:17am
Quoting navk
{quote} trading method. I am not talking a technical method. A technical method can be in 5 or 15 min chart with more accurate indicators what you trust the more.
Are you talking fundamental trades..
Loans and Collateral along with IR possible curve yield divergence?
  • #534,931
  • Jul 12, 2020 6:17am Jul 12, 2020 6:17am
Quoting navk
{quote} It is just a discussion, and one can try it an demo , remember emotions though, demo can do fuck all for a trader, practice this method. And one should treat demo like real account.
exactly, i wouldn't do it, but if you want to test it on demo for a few weeks and see what happens, I dont need too, too much risk on the table, not my style, but if you can sit on your hands and get on the right side your chilling.

its similar to if you have a £1,000 account, risk just 2% a trade and can make 20r per week, after just one year you will have £39 billion. And that’s why no one makes 20r per week consistently.

theres lots of these strategies around, the "key" part of succeeding here is CONSISTENCY


£250,000 a year is £1000 per day
£100,000 a year is £400 per day
£25,000 a year is £100 per day

all good have big odd days but ive said many many times id rather have consistent smaller gains any day of the week.

see you at open
Joe
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  • #534,932
  • Jul 12, 2020 6:18am Jul 12, 2020 6:18am
Quoting OnlineAddict
{quote} Impossible. Brain knows there is nothing to lose on demo...trader makes completely different trades as on a real account. Psychology is 50-80% of trading and fear is an important part of that psychology.
Hmmm..

ok
Yes.

I posted that just as a caution.

But trying in real account with 0.05 lot is not an issue for an experience traders, with a capital of 2k or 3k and start practising.

Grow the confidence and then increase lot size... but shall be restricted to 1 lot at any time.
Intraday only.
  • #534,933
  • Jul 12, 2020 6:20am Jul 12, 2020 6:20am
Quoting joesherwood
{quote} exactly, i wouldn't do it, but if you want to test it on demo for a few weeks and see what happens, I dont need too, too much risk on the table, not my style, but if you can sit on your hands and get on the right side your chilling. its similar to if you have a £1,000 account, risk just 2% a trade and can make 20r per week, after just one year you will have £39 billion. And that’s why no one makes 20r per week consistently. theres lots of these strategies around, the "key" part of succeeding here is CONSISTENCY £250,000 a year is £1000 per...
Exactly, I find it amusing when someone says "What, only 10 pips a day? But thats easy...", yet those 10 pips every day, consistently, would make a fortune out of any amount. The key is to find something that can be used longterm, even 1 pip profit a day is more than what 99% of all trades do in a period of 5 or 10 years.
Everyone can see the chart, but only a few can actually read it.
  • #534,934
  • Jul 12, 2020 6:21am Jul 12, 2020 6:21am
Quoting joesherwood
{quote} exactly, i wouldn't do it, but if you want to test it on demo for a few weeks and see what happens, I dont need too, too much risk on the table, not my style, but if you can sit on your hands and get on the right side your chilling. its similar to if you have a £1,000 account, risk just 2% a trade and can make 20r per week, after just one year you will have £39 billion. And that’s why no one makes 20r per week consistently. theres lots of these strategies around, the "key" part of succeeding here is CONSISTENCY £250,000 a year is...
20r = 20% ?
from 1000 dollar, you make 20% per week you have 39billions within a year?

That's something nice

But looking at this thread, everytime i read it, i see people making 10/15% a day/Week...they should be millionnaire
I'm happy with 1/2% honestly, and struggling sometimes, so hearing 10% a day makes me laugh
COT: The precious data ignored
  • #534,935
  • Jul 12, 2020 6:22am Jul 12, 2020 6:22am
Quoting navk
{quote} Hmmm.. ok Yes. I posted that just as a caution. But trying in real account with 0.05 lot is not an issue for an experience traders, with a capital of 2k or 3k and start practising. Grow the confidence and then increase lot size... but shall be restricted to 1 lot at any time.
I think the best amount to learn is with $1-3 on a real account. Tens or even hundreds accounts like that will teach more than anything else. Because that tight area will teach the best entries. Nothing forces you concentrate more on the perfect entry than knowing 5-20 pips will kill your account.
Everyone can see the chart, but only a few can actually read it.
  • #534,936
  • Jul 12, 2020 6:24am Jul 12, 2020 6:24am
Quoting kuroro001
{quote} 20r = 20% ? from 1000 dollar, you make 20% per week you have 39billions within a year? That's something nice But looking at this thread, everytime i read it, i see people making 10/15% a day/Week...they should be millionnaire I'm happy with 1/2% honestly, and struggling sometimes, so hearing 10% a day makes me laugh
I think he is talking about MXN and other pairs that have 1500 as spread..idk
  • #534,937
  • Jul 12, 2020 6:26am Jul 12, 2020 6:26am
Quoting OnlineAddict
{quote} Exactly, I find it amusing when someone says "What, only 10 pips a day? But thats easy...", yet those 10 pips every day, consistently, would make a fortune out of any amount. The key is to find something that can be used longterm, even 1 pip profit a day is more than what 99% of all trades do in a period of 5 or 10 years.
All I agree about the risk that is posted.

But to be honest, any retail trader is consistent in conventional method ?

Try differently and make fortune out of it.

Some businessmen, I heard go aggressive until he makes the first 100,000 and then turn to conventional.
Intraday only.
  • #534,938
  • Jul 12, 2020 6:31am Jul 12, 2020 6:31am
taking 1 $ per pip trade and then slogging on it due to floating loss for a week, then finally turn to your side with some 20 $, is it worth trading that?
Intraday only.
  • #534,939
  • Jul 12, 2020 6:31am Jul 12, 2020 6:31am
Quoting navk
{quote} All I agree about the risk that is posted. But to be honest, any retail trader is consistent in conventional method ? Try differently and make fortune out of it. Some businessmen, I heard go aggressive until he makes the first 100,000 and then turn to conventional.
I am trying to tune down on trades slowly...because my problem was overtrading, too. Then I made lets say 200-300 pips by scalping, just to end up in a 300 pip drawdown...and was looking at the chart and thinking...jeez, I could have just waited all week for this one trade and made more on it than with all scalping combined...and stress free. So now more and more I am trying to resist all possible setups, to have all the margin free for when I see something irresistible.
Everyone can see the chart, but only a few can actually read it.
  • #534,940
  • Jul 12, 2020 6:35am Jul 12, 2020 6:35am
Quoting OnlineAddict
{quote} Exactly, I find it amusing when someone says "What, only 10 pips a day? But thats easy...", yet those 10 pips every day, consistently, would make a fortune out of any amount. The key is to find something that can be used longterm, even 1 pip profit a day is more than what 99% of all trades do in a period of 5 or 10 years.
exactly mate, it comes back to bro 10 pips!? everybody can make that, we'd all be millionaires if it was that easy ahah

take it easy
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