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Cable Update (GBPUSD)

  • #538,241
  • Jul 24, 2020 10:21pm Jul 24, 2020 10:21pm
Hi I am holding sell from 2530. Any suggestions?
  • #538,242
  • Jul 24, 2020 10:31pm Jul 24, 2020 10:31pm
Quoting Sunriser
Hi I am holding sell from 2530. Any suggestions?
Oh no my friend, why didn't you close this order and buy early, maybe now you are profitable
  • #538,243
  • Jul 24, 2020 11:38pm Jul 24, 2020 11:38pm
Quoting Sunriser
Hi I am holding sell from 2530. Any suggestions?
i have one @1.254
  • #538,244
  • Jul 25, 2020 12:06am Jul 25, 2020 12:06am
you must cut loss. its difficult price back, or you can hedging
  • #538,245
  • Jul 25, 2020 12:08am Jul 25, 2020 12:08am
Quoting akhmadixmail
{quote} i have one @1.254
I have from 1.2763. I hope it turns positive monday.
  • #538,246
  • Jul 25, 2020 12:21am Jul 25, 2020 12:21am
my account is swap free, so no worries.
plan for next week :
- if my chart showing upward movement, i'll buy, close as high as possible
- if my chart showing downward movement, i'll add some short

P.S. : My account can hold that one short up untill 1.45 which is unlikely to happen next week.
  • #538,247
  • Jul 25, 2020 2:07am Jul 25, 2020 2:07am
The traders who followed blindly and open sell position on at 2550 have now met the reality of trading the financial market.. Learn to understand the flow of the market.

No one is perfect. When you are wrong accept and correct it the next time. When you are cocky, you will burn

Peace
Le$$ I$ More
  • #538,248
  • Edited 4:30am Jul 25, 2020 3:43am | Edited 4:30am
In as much as I do like to stay off the commenting on the thread, I will not hesitate to state this clearly to everyone to reiterate my point and also state how things stand.

First and foremost, I have not lost money as I only have 21% potential damage to my equity as I type and I'm not moved by it as reversal will still come into play to at least 1.25xx where my first sell is placed.

Below are my positions and new position added...

Sell @ 1.2555 (3% stake). Target (1.2555)
Sell @ 1.2620 (4% stake) Target (1.2555)
Sell @ 1.2701 (3% stake) Target (1.2601)
Sell @ 1.2800 (3% stake) new added sell. Target (1.2700)

My current drawdown is = 21%

As stated since July 1 and July 9, Selling Risk levels are at 1.2720 and 1.2817, which I do not consider stop loss levels instead as levels for me to place more sell since my money management is modestly applied.

You can judge me only on these conditions...

* If you have never had a drawdown of 30% since you began trading

* If I never projected these levels since July 1 and July 9 with detailed statistical reasons

* If I never emphasized the importance of money management and stake recommendations at each level.

* If I ever pressed the sell button for anyone or ask anyone to place a sell from 1.23xx level.

* If I have ever mocked the entry level of any user or disrespected any user of this thread.

I love this thread and I will always be a part of this thread as there are still many fantastic people here that see the truth with objectivity and without sentiment.

My goal is to contribute my quota and not to lead anyone to agony of loss or regrets.

In future, I will strive to be more careful as regards my bias sharing and model of information dissemination.

Regards,

George.
Data + Stat + Risk/Emotions Management
  • #538,249
  • Jul 25, 2020 4:24am Jul 25, 2020 4:24am
Quoting Georginson
In as much as I do like to stay off the commenting on the thread, I will not hesitate to state this clearly to everyone to reiterate my point and also state how things stand. First and foremost, I have not lost money as I only have 21% potential damage to my equity as I type and I'm not moved by it as reversal will still come into play to at least 1.25xx where my first sell is placed. Below are my positions and new position added... Sell @ 1.2555 (3% stake). Target (1.2555) Sell @ 1.2620 (4% stake) Target (1.2555) Sell @ 1.2701 (3% stake) Target...
George .. firstly let me say well done even at this time your in a loss . Well done for sticking with it . Well done for taking the knocks . He who is without sin cast the first stone ... so with that you should not be criticised by other traders who 100% have loss .I hope you do see 2400 and I also hope that what I have posted comes true ..... otherwise we go back and re think our strategy and what we think we have learned in the past . I have less posts over the past weeks for different reasons .. there are some jobs here that come and go ,, we have seen this in the past weeks . We have new traders willing to learn and good for them to .. some new traders Joe , moty contribute their opinions. Good for them to have the courage of their convictions right or wrong . This forex is not easy . I lose every week I win every week it’s about balance .. balance trades balances mind ,and balanced thinking .. plan long plan short also so that there might be a plan my last trade last night was a lose but the 3 before closed we’re wins . I intend to short again Sunday . 2845 is I think that extension I posted about . . There are a lot of tec at this time pointing to long trades and I think 4300 is possible this year ... neck on the line there . But it need a pull back . The day chart tl . Could be the attraction.. sorry that’s a long post , hope it makes sense .regards to all E
  • #538,250
  • Jul 25, 2020 4:28am Jul 25, 2020 4:28am
Quoting Georginson
In as much as I do like to stay off the commenting on the thread, I will not hesitate to state this clearly to everyone to reiterate my point and also state how things stand. First and foremost, I have not lost money as I only have 21% potential damage to my equity as I type and I'm not moved by it as reversal will still come into play to at least 1.25xx where my first sell is placed. Below are my positions and new position added... Sell @ 1.2555 (3% stake). Target (1.2555) Sell @ 1.2620 (4% stake) Target (1.2555) Sell @ 1.2701 (3% stake) Target...
don't care what others said mate..
just focus or posting as always..
they win or losess they did not give you some coffee money..so why need to care much???
it a free threads here..
no admin..
no one can stop you from posting..
nice weekend..
just for a cup of coffee...
  • #538,251
  • Jul 25, 2020 4:29am Jul 25, 2020 4:29am
Quoting Georginson
In as much as I do like to stay off the commenting on the thread, I will not hesitate to state this clearly to everyone to reiterate my point and also state how things stand. First and foremost, I have not lost money as I only have 21% potential damage to my equity as I type and I'm not moved by it as reversal will still come into play to at least 1.25xx where my first sell is placed. Below are my positions and new position added... Sell @ 1.2555 (3% stake). Target (1.2555) Sell @ 1.2620 (4% stake) Target (1.2555) Sell @ 1.2701 (3% stake) Target...

I respect your response to the situation. I believe you are mistaken but that's only my analysis - your risk is yours to take and no one elses. I don't think anybody wishes you a loss on these trades but possibly cannot understand the drawdown you're willing to take. 20% on a single trade is, in my opinion, bad money management - though you have been in the business a lot longer than myself!

Unfortunately that red diamond of yours puts a big target on your back and leads people to trust in you completely. This shouldn't be the way but it is. Perhaps there needs to be a clearer message to everyone on this board that copy trading does not work. Everyone should be free to post their own analysis without ridicule. But there are young people like myself who look up to those and possibly follow those who have such an influence in this thread.

Hope this doesn't sound too preachy and is not meant to offend you Georginson. Just my thoughts on the topic.
Ben
Do or do not, there is no try - Master Yoda
  • #538,252
  • Jul 25, 2020 4:33am Jul 25, 2020 4:33am
Quoting akim0895
{quote} don't care what others said mate.. just focus or posting as always.. they win or losess they did not give you some coffee money..so why need to care much??? it a free threads here.. no admin.. no one can stop you from posting.. nice weekend..
we are not same side at trading mate..
but i always respects those posting..
it a hardwork to do so..
not an easy thing to do anaylsis..
traders who take so they need to have enough knowledge
just pick randomly and enter..
that their stupidity..
lack lot of basic knowledge and need to learn more..
knowledge can't buy anywhere at supermarket..
if free come and posting at my threads mate..
always open for you..
️
just for a cup of coffee...
  • #538,253
  • Jul 25, 2020 4:38am Jul 25, 2020 4:38am
Quoting Georginson
In as much as I do like to stay off the commenting on the thread, I will not hesitate to state this clearly to everyone to reiterate my point and also state how things stand. First and foremost, I have not lost money as I only have 21% potential damage to my equity as I type and I'm not moved by it as reversal will still come into play to at least 1.25xx where my first sell is placed. Below are my positions and new position added... Sell @ 1.2555 (3% stake). Target (1.2555) Sell @ 1.2620 (4% stake) Target (1.2555) Sell @ 1.2701 (3% stake) Target...
Always - a real gentleman. Keep your chin up and keep posing Bud!!!
Don't trade what you think. Just what you see!!!
  • #538,254
  • Jul 25, 2020 5:04am Jul 25, 2020 5:04am
Quoting BenWarburton
{quote} I respect your response to the situation. I believe you are mistaken but that's only my analysis - your risk is yours to take and no one elses. I don't think anybody wishes you a loss on these trades but possibly cannot understand the drawdown you're willing to take. 20% on a single trade is, in my opinion, bad money management - though you have been in the business a lot longer than myself! Unfortunately that red diamond of yours puts a big target on your back and leads people to trust in you completely. This shouldn't be the way but it...
agree with these completely, no one wants to see you lose G. Your a good trader. But Ben is correct, with these colourful banners new comers will follow every set up you higher ups do. All well and good when your making money and getting good calls but then you get the backlash if one goes wrong. Always the way. We’ve seen this from someone who I won’t mention these past couple weeks go from making a doing good calls to being many positions all to be red. We need to embrace our losses and move forward.

have a chilled weekend buddy.

take it easy all

Joe
  • #538,255
  • Jul 25, 2020 5:05am Jul 25, 2020 5:05am
Quoting elbert3
{quote} George .. firstly let me say well done even at this time your in a loss . Well done for sticking with it . Well done for taking the knocks . He who is without sin cast the first stone ... so with that you should not be criticised by other traders who 100% have loss .I hope you do see 2400 and I also hope that what I have posted comes true ..... otherwise we go back and re think our strategy and what we think we have learned in the past . I have less posts over the past weeks for different reasons .. there are some jobs here that come and...
Always positive and informative comments E
  • #538,256
  • Jul 25, 2020 5:07am Jul 25, 2020 5:07am
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nice discount right!
  • #538,257
  • Jul 25, 2020 6:08am Jul 25, 2020 6:08am
For those holding onto short positions you should be aware this is a classic ABCD on the 1 hour chart with a further 100 pips to go. Price has already closed passed A.

So your call on the action you take.
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  • #538,258
  • Jul 25, 2020 6:20am Jul 25, 2020 6:20am
Quoting Nala66
For those holding onto short positions you should be aware this is a classic ABCD on the 1 hour chart with a further 100 pips to go. Price has already closed passed A. So your call on the action you take. {image}
Classic Pattern.. and that’s minimum target ..

lets see how things goes
SS
  • #538,259
  • Jul 25, 2020 6:29am Jul 25, 2020 6:29am
Quoting Nala66
For those holding onto short positions you should be aware this is a classic ABCD on the 1 hour chart with a further 100 pips to go. Price has already closed passed A. So your call on the action you take. {image}
can i know hwoow to calculate and get 1.289 number? i keep calculating and get 1.2845 number. but i know it will reach there
row row row your boat
  • #538,260
  • Jul 25, 2020 6:44am Jul 25, 2020 6:44am
re 'Georginson-gate' discussed above.

I don't know whether the monthly range analysis [upon which you have based the trades you mention above and have mentioned as you placed them] and that you have freely shared represent a proven edge (proven to your satisfaction,) or what you think may have the makings of an edge. Ie have you a large sample size (say 50+ instances) where over that sample size you have come out ahead in a way that makes the R:R make sense and the actual return acceptable to you, over such a period. In other words over the last 50 months as an example [but I would say minimum sample size to prove or disprove whether an edge exists or not] has the same analysis produced this? This question is rhetorical really, I don't expect an answer as the point of mentioning it is only to point out the difference between an actual proven edge or what a trader may think is 'promising' and has the making of an edge. Secondly - those that followed your calls should have asked themselves this question too (as we all should over anything that exposes us to risk) if not asked you the question - although you were/are under no obligation to answer. I suspect though that they followed due to the integrity and apparent intelligence of your analysis, and the success you had in June. In any event - you cannot judge a trader on just one call but if you are going to follow his/her calls you need to know more information about the edge he/she is using, and the 'basics' I have discussed here re such information just scratches the surface if you are going to optimise R:R to it and give your self the best chance of developing the necessary psychology to trade it correctly.

As an aside to this but related to it; I wonder whether such monthly range analysis might work better if you compare the last x candles of the same type in the same situation - eg say a bullish candle in an uptrend - ie base your analysis on the last x candles of the same type in the same market conditions, on the same t/f. I have no evidence to say that this would result in an edge but it just feels like it might be better over say an analysis of the last x monthly candles regardless of what type they are/what market conditions they were printed in. Just a thought.

Whatever the case, there is one thing I and I am sure others are confident about, your motives are good and your posts are intelligent and well reasoned (notwithstanding the above) and I continue to wish you success in your trading.

Peace.
Trader with an Edge.
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