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Cable Update (GBPUSD)

  • #536,801
  • Jul 20, 2020 8:42pm Jul 20, 2020 8:42pm
Quoting Aghostinplai
{quote} Mate, don't you have your own strategy? Don't you have a stop loss region? Don't blame others for a trade you decided to take. No one forced you.
you don't get my point, i contacted him when i was on a bad trade of just 140pips and he kept telling me to enter more sell rather than a buy and told me to hold the sells, it kept going higher and when i closed one of the sell position to protect my account he blocked me, isn't that evil????
  • #536,802
  • Jul 20, 2020 8:47pm Jul 20, 2020 8:47pm
Quoting epzero
{quote} you don't get my point, i contacted him when i was on a bad trade of just 140pips and he kept telling me to enter more sell rather than a buy and told me to hold the sells, it kept going higher and when i closed one of the sell position to protect my account he blocked me, isn't that evil????
money management is important too.

if your account is small, and your lot size is big, you can not hold it as you know.

Assuming your capital is 1k, if you decide to scalp, may be 15 to 20 pips must be stop.

If you decide to be day trader, may be 40 to 50 pips stop.

If you are swing trader, may be 100 to 120 pips stop.

If you are ready for 10 % floating loss, calculate your trade lot size accordingly
Intraday only.
  • #536,803
  • Jul 20, 2020 8:48pm Jul 20, 2020 8:48pm
Quoting epzero
{quote} you don't get my point, i contacted him when i was on a bad trade of just 140pips and he kept telling me to enter more sell rather than a buy and told me to hold the sells, it kept going higher and when i closed one of the sell position to protect my account he blocked me, isn't that evil????
just for a cup of coffee...
  • #536,804
  • Jul 20, 2020 8:51pm Jul 20, 2020 8:51pm
Quoting epzero
{quote} you don't get my point, i contacted him when i was on a bad trade of just 140pips and he kept telling me to enter more sell rather than a buy and told me to hold the sells, it kept going higher and when i closed one of the sell position to protect my account he blocked me, isn't that evil????
You need to learn adaptability in trading. You should have a point where you cut your loss and sometimes, follow the new trend. Money management is also important.
Also, don't trade based on what other people say if it doesn't correlate with your strategy.

I wish you the best mate.
  • #536,805
  • Jul 20, 2020 8:53pm Jul 20, 2020 8:53pm
Quoting epzero
{quote} you don't get my point, i contacted him when i was on a bad trade of just 140pips and he kept telling me to enter more sell rather than a buy and told me to hold the sells, it kept going higher and when i closed one of the sell position to protect my account he blocked me, isn't that evil????
When you make a profit, will Georginson get a cut?Why are you mad at him when you ultimately push the SELL button??He has the right to block anyone and vice versa.Get some trade ideas here, develop your own strategies, and make your own decisions. If you let others tell you when to buy/sell, might as well stick to a day job, having a boss do the same.Peace.
Lost....
  • #536,806
  • Jul 20, 2020 8:54pm Jul 20, 2020 8:54pm
Quoting gespiri
{quote} When you make a profit, will Georginson get a cut?Why are you mad at him when you ultimately push the SELL button??He has the right to block anyone and vice versa.Get some trade ideas here, develop your own strategies, and make your own decisions. If you let others tell you when to buy/sell, might as well stick to a day job, having a boss do the same.Peace.
well said..
just for a cup of coffee...
  • #536,807
  • Jul 20, 2020 8:58pm Jul 20, 2020 8:58pm
we all just a retail traders..
not a market maker..
so sometimes our prediction goes well
sometimes bad prediction..
good or bad learn to accept it..
especially if follow others shout so just accept it n builts new trades..
take care
️
just for a cup of coffee...
  • #536,808
  • Jul 20, 2020 9:01pm Jul 20, 2020 9:01pm
Quoting epzero
{quote} my question to you is this, so what happens when cable breaks this price range and goes to 1.3 ?????
Here is my take...

I do not see price going above 1.2817 level this July and 1.2720 is the most likely place reversal will happen.

I did state in my previous posts that since 2011 till 2019, The maximum open price to high price of July is 418 pips which happened in July 2011.

July 2011
Open price = 1.6051
High price = 1.6469
= 418 pips above monthly open.
Low = 1.5780
= 271 pips below monthly open

July 2020 so far
Open price = 1.2399
High price*. = 1.2684
= 285 pips above monthly open
Low. = 1.2358
= 41 pips below monthly open.

July 2020 range so far
High 1.2684 - 1.2358 = 326 pips

Minimum range of JULYS from 2011 - 2019 = 334 pips (2014)

So this current July 2020 still has at least 8 more pips to add to equate the minimum July range since 2011.

Now should this July 2020 attempt to equal high to open distance of 418 pips which happened in 2011

1.2399 + 418 = 1.2817 (maximum unlikely risk for July 2020)

Should 1.2817 happen, July 2020 range will be stretched to 459 pips (1.2358 - 1.2817)

Only once in 9 years July have we had 418 pips above monthly open.

recent example is June 2020
June 2020 open 1.2323 - 1.2812 high = 489 pips
Low 1.2250

After that surge to 1.2812 in June 2020, there was 562 pips crash to 1.2250.

I sighted 1.2720 being 321 pips above monthly open which will make July range become 362 pips exceeding the minimum July range of 2014.

So reversal from 1.2720 is very likely for a fall towards 1.23/1.22 area before another surge later.

Also note that if price reaches 1.2720, weekly range 202 pips minimum in the last 16 weeks must have been attained.

So a reversal is anywhere from 1.2680/1.27 level to 1.23/1.22 area.
Data + Stat + Risk/Emotions Management
  • #536,809
  • Jul 20, 2020 9:05pm Jul 20, 2020 9:05pm
Quoting gespiri
The market wants 1.2665 - 1.2684...... at least
If PA blows through that 1.2684, I'm looking at 1.2750......DON'T FOLLOW ME BUT TRY TO LEARN FROM ME.I'm also eating the same shit-sandwich like everyone else here.
Lost....
  • #536,810
  • Jul 20, 2020 9:06pm Jul 20, 2020 9:06pm
georgin may be right in his swing approach.

If you followed him, you must maintain MM rules according to your capital.
Intraday only.
  • #536,811
  • Jul 20, 2020 9:08pm Jul 20, 2020 9:08pm
Quoting navk
georgin may be right in his swing approach. If you followed him, you must maintain MM rules according to your capital.
Thanks mate.
Data + Stat + Risk/Emotions Management
  • #536,812
  • Jul 20, 2020 9:08pm Jul 20, 2020 9:08pm
Quoting gespiri
{quote} If PA blows through that 1.2684, I'm looking at 1.2750......DON'T FOLLOW ME BUT TRY TO LEARN FROM ME.I'm also eating the same shit-sandwich like everyone else here.
to me 2710 is high today.

2614 or below is low for the day.

To me only.

And i expect good selling in frankfurt/ london sessions today
Intraday only.
  • #536,813
  • Jul 20, 2020 9:10pm Jul 20, 2020 9:10pm
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yes yes yes
  • #536,814
  • Jul 20, 2020 9:14pm Jul 20, 2020 9:14pm
Quoting Moty
{image}{image}{image}
moty,

I have seen in the past, if no retrace happens in Tokyo, it invariably tests R1.

Then in frankfurt/london sessions it retraces.

However if Frankfurt / london fails to retrace, it is strong bull.
Intraday only.
  • #536,815
  • Jul 20, 2020 9:14pm Jul 20, 2020 9:14pm
Quoting navk
georgin may be right in his swing approach. If you followed him, you must maintain MM rules according to your capital.
he is projecting 1.2817 now again do you know what that will do to any account if you started selling from 1.25 ??? seeing many trade at different prices go against you only to wait for a few drop of sell
  • #536,816
  • Jul 20, 2020 9:16pm Jul 20, 2020 9:16pm
Quoting epzero
{quote} he is projecting 1.2817 now again do you know what that will do to any account if you started selling from 1.25 ??? seeing many trade at different prices go against you only to wait for a few drop of sell
If you follow him, keep in mind the MM rules. I do not know if his sell approach is right or not, because i am not swing trader.

Swing traders and day traders or scalpers do not match.
Intraday only.
  • #536,817
  • Jul 20, 2020 9:19pm Jul 20, 2020 9:19pm
Quoting navk
{quote} If you follow him, keep in mind the MM rules. Swing traders and day traders or scalpers do not match.
you are the best person to follow on this forum because 9 out of 10 your always correct and you use stop losses
  • #536,818
  • Jul 20, 2020 9:21pm Jul 20, 2020 9:21pm
Quoting epzero
{quote} he is projecting 1.2817 now again do you know what that will do to any account if you started selling from 1.25 ??? seeing many trade at different prices go against you only to wait for a few drop of sell
just with 100 $ account, if you trade reasonably at right place, you can win with 0.01 lot.

100 $ account, 0.01 lot, 100 pips stop. 100 pips profit.

Do this regularly, your account will grow. Just saying
Intraday only.
  • #536,819
  • Jul 20, 2020 9:21pm Jul 20, 2020 9:21pm
Here is my post from July 13 stated 1.2817 level clearly as unlikely maximum risk for July and that I do not use stop loss.
Attached Image (click to enlarge)
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Data + Stat + Risk/Emotions Management
  • #536,820
  • Jul 20, 2020 9:23pm Jul 20, 2020 9:23pm
https://www.fxstreet.com/analysis/gb...paign=analysis
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