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Cable Update (GBPUSD)

  • #535,761
  • Jul 15, 2020 1:00pm Jul 15, 2020 1:00pm
Quoting Georginson
{quote} Robber brokers with their killer swap system to discourage traders keeping floating positions overnight for several days as they know recovery is always possible if with enough equity to withstand the potential loss position. Swing traders are hereby advised to make use of Islamic accounts.
agree!
i want to say thank u for your data that you post earlier , very useful.
glad to read such info based statistics.

but i think we need insert covid 19 to the equation.
  • #535,762
  • Jul 15, 2020 1:02pm Jul 15, 2020 1:02pm
Quoting WizardTrade
{quote} That’s how patience works
Yeh I got out, I have no patience haha. Done for the day, lets see what tomorrow brings.
  • #535,763
  • Jul 15, 2020 1:03pm Jul 15, 2020 1:03pm
Quoting Scotteyy
{quote} Yeh I got out, I have no patience haha. Done for the day, lets see what tomorrow brings.
Add this patience spice to your recipe and there the ground is yours.
WARNING: This post warps space and time in its vicinity.
  • #535,764
  • Jul 15, 2020 1:06pm Jul 15, 2020 1:06pm
Quoting WizardTrade
{quote} Add this patience spice to your recipe and there the ground is yours.
Yeh its quite a big downfall of mine, both on entry and exit.
  • #535,765
  • Jul 15, 2020 1:11pm Jul 15, 2020 1:11pm
Quoting Scotteyy
{quote} Yeh its quite a big downfall of mine, both on entry and exit.
You will improve with time. Just use limited lots and see many practical things into play without risking much. It will then become your intuition (after more than one year of experience on single currency-after that you can start to build knowledge over correlations and events) when to enter and when to exit or when to stay out

Cheers
TW

PS: Master one currency first then you can go ahead with others
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  • #535,766
  • Jul 15, 2020 1:19pm Jul 15, 2020 1:19pm
Quoting WizardTrade
{quote} You will improve with time. Just use limited lots and see many practical things into play without risking much. It will then become your intuition (after more than one year of experience on single currency-after that you can start to build knowledge over correlations and events) when to enter and when to exit or when to stay out Cheers TW PS: Master one currency first then you can go ahead with others
Yeh I use the minimum lots my broker allows I said I wouldn't increase until 3 months of profitability after I hit B/E. I've been teetering around break-even for a while now think its causing me to make some psychological mistakes. I only trade cable at the moment, my plan is to focus on cable for a while if not forever, the more experience the better right?
  • #535,767
  • Jul 15, 2020 1:23pm Jul 15, 2020 1:23pm
What I am seeing right now on H4. Trade Safe.
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  • #535,768
  • Jul 15, 2020 1:25pm Jul 15, 2020 1:25pm
Quoting Scotteyy
{quote} Yeh I use the minimum lots my broker allows I said I wouldn't increase until 3 months of profitability after I hit B/E. I've been teetering around break-even for a while now think its causing me to make some psychological mistakes. I only trade cable at the moment, my plan is to focus on cable for a while if not forever, the more experience the better right?
Yeah right. Keep learning.
WARNING: This post warps space and time in its vicinity.
  • #535,769
  • Jul 15, 2020 1:30pm Jul 15, 2020 1:30pm
Bearish pins engulfing the bullish hammers at same level. Signs of a bigger drop start revealing.
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  • #535,770
  • Jul 15, 2020 1:33pm Jul 15, 2020 1:33pm
Who’s gonna win this battle?

the bulls or the bears?

out of all positions and watching.
#Stay blue. /swinger/scalper/
  • #535,771
  • Jul 15, 2020 1:35pm Jul 15, 2020 1:35pm
Quoting Ehminiz
Who’s gonna win this battle? the bulls or the bears? out of all positions and watching.
Highly probable chance for Bears Rest the PA Chief can tell over time
WARNING: This post warps space and time in its vicinity.
  • #535,772
  • Jul 15, 2020 1:36pm Jul 15, 2020 1:36pm
Quoting gatenio
{quote} im worry, im 7.2 lots, triple swap day. i hate this swap on shorts.. im on the way to leave my broker for new one with islamic account..
i did not knew that .
yes , you need to be worry.
this is a mess
and price just got stuck in the middle .
i can effort staying with my 0.5 lot of mine .
i wish you luck
yes yes yes
  • #535,773
  • Jul 15, 2020 1:36pm Jul 15, 2020 1:36pm
Quoting gatenio
{quote} agree! i want to say thank u for your data that you post earlier , very useful. glad to read such info based statistics. but i think we need insert covid 19 to the equation.
Covid 19 was factored into yearly range model which hastened 1820 pips movement between January to March 2020, almost equalling the range of 2018 which had 1900 pips. I did draw out 2020 range and price pattern behaviour which is twin of 2013 in my earlier posts.

The overblown equation of monthly range only happened 3 months out of the last 115 (one hundred and fifteen) months which were June 2016 (brexit referendum month) October 2016 (flash crash month) and March 2020 (Covid 19 global shutdown month).

These above stated months were due to reasons beyond normal and hence defiled norms as those months had over 1400 pips movement which could have been average yearly range movement.

So if 3 months out of 115 months had abnormal situations, then the consistency is monthly price behaviour shouldn't be put into question.

Cheers.

Georginson.
Data + Stat + Risk/Emotions Management
  • #535,774
  • Jul 15, 2020 1:37pm Jul 15, 2020 1:37pm
Quoting WizardTrade
{quote} Highly probable chance for Bears Rest the PA Chief can tell over time

I hope so.

let it Favour everyone.


but we all trade against each other.
#Stay blue. /swinger/scalper/
  • #535,775
  • Jul 15, 2020 1:38pm Jul 15, 2020 1:38pm
GU, the price action around the support zone will provide direction for the rest of the week.
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  • #535,776
  • Jul 15, 2020 1:39pm Jul 15, 2020 1:39pm
Quoting Ehminiz
{quote} I hope so. let it Favour everyone. but we all trade against each other.
We all trade against the pool Not each other
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  • #535,777
  • Jul 15, 2020 1:46pm Jul 15, 2020 1:46pm
Quoting WizardTrade
{quote} We all trade against the pool Not each other

you are right.

#Stay blue. /swinger/scalper/
  • #535,778
  • Jul 15, 2020 1:53pm Jul 15, 2020 1:53pm
Quoting Scotteyy
{quote} Yeh I use the minimum lots my broker allows I said I wouldn't increase until 3 months of profitability after I hit B/E. I've been teetering around break-even for a while now think its causing me to make some psychological mistakes. I only trade cable at the moment, my plan is to focus on cable for a while if not forever, the more experience the better right?
Your situation sounds same as mine only I’m nowhere near break even yet but trading smaller lots was my turnaround I use 200 units and taking profits when I see some and then getting back in again instead of waiting for too many pips and seeing them disappear I did use 100 units for a few trades but it was too boring I want to move up a bit but wait till my a/c has a bit more backbone . I too only trade 1 pair ... Good luck mate
  • #535,779
  • Jul 15, 2020 2:15pm Jul 15, 2020 2:15pm
Quoting elbert3
{image} did not check anything yesterday but now if I hade we can see 2 breaks crossing tl . 2650 looks to be then next target so I have jumped at my last stop but not confident. So get to a be if possible
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well that was the entry and will it take out yesterday’s low
  • #535,780
  • Jul 15, 2020 2:16pm Jul 15, 2020 2:16pm
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it’s trying
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