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Cable Update (GBPUSD)

  • #539,161
  • Jul 29, 2020 10:32am Jul 29, 2020 10:32am
Quoting HBN08
{quote} Well u right just noticed that is a M and W important area. Lets see You to stay safe
Price need close below 2950-2960 first for bear and next 2900-2920
i think price should sideway here until fomc
  • #539,162
  • Jul 29, 2020 10:40am Jul 29, 2020 10:40am
Quoting samuelg32
my head is messed up how do know when to hold a trade or take profits quick. I'm tried
The best advice I can give you. You need to find out if you are a scalper, a short term trader, or a medium-term trader. A scalper would usually go for 5 to 25 pip profits.
I speak for myself personally as a longer-term trader. A scalper takes his profits at 25 pips whereas I lock my trades in at breakeven 5 pips after 25 pips. As juicy as it may seem to just take the money, I don't. My breakeven stop can get hit a couple of times before I get it right for the reward to pay off. The fringe benefit I get with trades locked in is that I sleep peacefully. Tomorrow is another day. When I wake up my trade is either stopped out or it isn't. 3 Days later you might wake up and think Hey Ho......I am up 100 pips plus. You don't worry about looking for a new trade, you are relaxed and in charge. As time goes you are able to objectively look at the markets. No rush. New opportunities arise and you are able to assess the trade with a level head and repeat the process over and over again. Trading becomes fun, it becomes like a game of chess or even a war game, you and you alone are in charge.

Just little snippets into my Psyche.

Hope it helps,
Cheers
Trade to trade another day
  • #539,163
  • Jul 29, 2020 10:41am Jul 29, 2020 10:41am
How high would GBPUSD go..1.310,1.320 or higher,still buying into seasons deep..
  • #539,164
  • Jul 29, 2020 10:43am Jul 29, 2020 10:43am
If it breaks 1.30, then my take profit will be 1.35, about 1000 pips profit
  • #539,165
  • Jul 29, 2020 10:50am Jul 29, 2020 10:50am
Quoting Wavegarrick
{quote} The best advice I can give you. You need to find out if you are a scalper, a short term trader, or a medium-term trader. A scalper would usually go for 5 to 25 pip profits. I speak for myself personally as a longer-term trader. A scalper takes his profits at 25 pips whereas I lock my trades in at breakeven 5 pips after 25 pips. As juicy as it may seem to just take the money, I don't. My breakeven stop can get hit a couple of times before I get it right for the reward to pay off. The fringe benefit I get with trades locked in is that I sleep...
VOUCH
  • #539,166
  • Jul 29, 2020 10:55am Jul 29, 2020 10:55am
If anyone is interested to become professional trader like @Neil0163, please view the attachments. After studying them for 2-3 months you will be able to come back here and claim that you trade like a banker...enjoy.
Attached File(s)
File Type: pdf BS Trading.pdf   5.0 MB | 985 downloads
File Type: pdf 5 years of sam seiden supply and demand teaching.pdf   8.6 MB | 1,066 downloads
Always trade your own plan...I don't provide trading signals.
  • #539,167
  • Jul 29, 2020 11:08am Jul 29, 2020 11:08am
...who's gonna be the 1st 'stupid' retailer to mention the potential H&S on 10min/15min (if you are into those sort of things)....too late - it was me !
Trader with an Edge.
  • #539,168
  • Jul 29, 2020 11:11am Jul 29, 2020 11:11am
Quoting Coreg2004
If anyone is interested to become professional trader like @Neil0163, please view the attachments. After studying them for 2-3 months you will be able to come back here and claim that you trade like a banker...enjoy. {image} {image}
Thanks.. Hopefully it will help newbies like me.
  • #539,169
  • Jul 29, 2020 11:22am Jul 29, 2020 11:22am
...my old boss when I was a bank trader used to say 'everything is alright until something goes wrong' and I as a 20 something upstart used to think 'stupid old fart' but he went on to say that he didn't judge traders on how they handled themselves when things were going well - but on how they coped when things were not going well. Funny isn't it but as I have gotten into early middle age I've realised he wasn't such a stupid old fart after all.

Not necessarily connected to the above -you decide - In the British comedy 'Clockwise' with John Cleese (of Monty Python fame) there is an excellent line ' I can manage the despair - it's the hope that gets me.'

They say that if it had been Lehman Sisters instead of Lehman Bros - it would not have collapsed.

Food for thought.
Trader with an Edge.
  • #539,170
  • Jul 29, 2020 11:23am Jul 29, 2020 11:23am
Attached Image (click to enlarge)
Click to Enlarge Name: gu1.png Size: 32 KB
Attached Image (click to enlarge)
Click to Enlarge Name: dx1.png Size: 14 KB
yes yes yes
  • #539,171
  • Jul 29, 2020 11:30am Jul 29, 2020 11:30am
Inserted Video
not euphoria follower
  • #539,172
  • Jul 29, 2020 11:36am Jul 29, 2020 11:36am
Quoting Coreg2004
If anyone is interested to become professional trader like @Neil0163, please view the attachments. After studying them for 2-3 months you will be able to come back here and claim that you trade like a banker...enjoy. {image} {image}
Trade like a banker or a complete WA***R, 2 choices on FF
  • #539,173
  • Jul 29, 2020 11:39am Jul 29, 2020 11:39am
Quoting Moty
{quote} I blew the account.. No more short positions for me until clear trend change

It happens. Just start again. Might be better to wait until Sunday/Monday though. The next couple of days should be a little turbulent.
Don't compare your trades to others. Most often the masses are the asses
  • #539,174
  • Jul 29, 2020 11:45am Jul 29, 2020 11:45am
Quoting Coreg2004
If anyone is interested to become professional trader like @Neil0163, please view the attachments. After studying them for 2-3 months you will be able to come back here and claim that you trade like a banker...enjoy. {image} {image}
Arr yes Sam seiden that’s all well and good but I don’t trade like that........

lol why not just pop along to the free group I run and see how I actually trade rather than making conclusions based off supply and demand?

just a thought.

like I say set up a my FXBook and trade GU for a month with me....
or just come and troll the group and have a nosey?
  • #539,175
  • Jul 29, 2020 11:45am Jul 29, 2020 11:45am
Quoting tradebloke
{quote} Thanks.. Hopefully it will help newbies like me.
He was being a troll buddy
  • #539,176
  • Jul 29, 2020 11:47am Jul 29, 2020 11:47am
Quoting Neil0163
{quote} He was being a troll buddy
lol, but still helpful.

what is the free group you are run?
  • #539,177
  • Jul 29, 2020 11:47am Jul 29, 2020 11:47am
Quoting Wavegarrick
{quote} The best advice I can give you. You need to find out if you are a scalper, a short term trader, or a medium-term trader. A scalper would usually go for 5 to 25 pip profits. I speak for myself personally as a longer-term trader. A scalper takes his profits at 25 pips whereas I lock my trades in at breakeven 5 pips after 25 pips. As juicy as it may seem to just take the money, I don't. My breakeven stop can get hit a couple of times before I get it right for the reward to pay off. The fringe benefit I get with trades locked in is that I sleep...
You sir said everything
Thats why we traders love this game.
  • #539,178
  • Jul 29, 2020 11:53am Jul 29, 2020 11:53am
Quoting tradebloke
{quote} Hi OB.. What time is FOMC ET or GMT? The choppiness today has made me a scalper.

2PM EST.
Don't compare your trades to others. Most often the masses are the asses
  • #539,179
  • Jul 29, 2020 11:57am Jul 29, 2020 11:57am
Quoting OBsayMkMoney
{quote} 2PM EST.
And 7PM Gmt
  • #539,180
  • Jul 29, 2020 11:57am Jul 29, 2020 11:57am
Quoting gatenio
{quote} lol, but still helpful. what is the free group you are run?
https://t.me/neilssupplyanddemandgroup

all welcome even the trolls I’ll let my trading speak for me
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