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Cable Update (GBPUSD)

  • #578,661
  • Feb 17, 2021 4:41pm Feb 17, 2021 4:41pm
Quoting FXInfoMagnet
Hi All, I'm new here and I'm hoping I could get some advice. I pretty much exclusively trade GBP/USD and I had an extremely profitable January, however, it all seemed to fade for me in February. My setup is pretty much as follows: BB Bands with a period of 13 and deviation of 2 EMA: 200 EMA: 100 EMA: 30 (for 5/15m) I use a Stoch set at 34,6,2 for 5 to 15 I usually let the chart and candles, and DXY guide me but I feel like I've lost my way slightly. Is there a whole lot more I should be looking at? Stocks, FTSE, etc. Obviously, I pay attention to...
Can you post a couple of charts with your trades. I guess you have a system which works best in a ranging market (ie cable in Jan, we were bouncing up and down between a few easily defined levels) rather than a market in full breakout mode. I haven't used Bbands but I guess they rely on mean reversion which cable hasn't done much of this month. IMO you may need to add a few tools and techniques to your trading arsenal so you can be flexible to market conditions- or find another pair that's ranging up and down. Fibonacci is a great start it is like a cheat code when you learn to apply it properly. There's some good Fib experts on this thread, I'm still learning its full application
  • #578,662
  • Feb 17, 2021 4:43pm Feb 17, 2021 4:43pm
Quoting FXInfoMagnet
Hi All, I'm new here and I'm hoping I could get some advice. I pretty much exclusively trade GBP/USD and I had an extremely profitable January, however, it all seemed to fade for me in February. My setup is pretty much as follows: BB Bands with a period of 13 and deviation of 2 EMA: 200 EMA: 100 EMA: 30 (for 5/15m) I use a Stoch set at 34,6,2 for 5 to 15 I usually let the chart and candles, and DXY guide me but I feel like I've lost my way slightly. Is there a whole lot more I should be looking at? Stocks, FTSE, etc. Obviously, I pay attention to...
Welcome, well, its you and me, January was very profitable, yet these couple last weeks have been awful..

Following Waveskierrob's advice on money management, should bee the first and most important thing to focus on.
  • #578,663
  • Feb 17, 2021 4:58pm Feb 17, 2021 4:58pm
Evening,
fisrt plan for the day.
to be adjusted according PA.
M15
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If you don't know how to earn money, don't loose it.
  • #578,664
  • Feb 17, 2021 5:05pm Feb 17, 2021 5:05pm
Quoting coolmakina
Evening, fisrt plan for the day. to be adjusted according PA. M15 {image}
plan 2:
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If you don't know how to earn money, don't loose it.
  • #578,665
  • Feb 17, 2021 5:10pm Feb 17, 2021 5:10pm
Quoting Moty
{image}
You are right, have another flag H1.

Attached Image (click to enlarge)
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Together we can be strongest
Vantage Return This Month: na
  • #578,666
  • Feb 17, 2021 5:22pm Feb 17, 2021 5:22pm
Any corrective suggestions on my analysis would be appreciated
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  • #578,667
  • Feb 17, 2021 5:23pm Feb 17, 2021 5:23pm
Quoting Moty
{image}
Wolf?
If you don't know how to earn money, don't loose it.
  • #578,668
  • Feb 17, 2021 5:25pm Feb 17, 2021 5:25pm
Very bold entries and a nice result, but for the sake of long term health of your account please never add to a losing trade.

Quoting Sang.Real
{quote} GU Closed all scalping position Continue tomorrow for new set up {image}
  • #578,669
  • Feb 17, 2021 5:33pm Feb 17, 2021 5:33pm
Quoting Moty
{image}
Maybe an harmonic pattern in this point.

Attached Image (click to enlarge)
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Together we can be strongest
Vantage Return This Month: na
  • #578,670
  • Feb 17, 2021 5:54pm Feb 17, 2021 5:54pm
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  • #578,671
  • Feb 17, 2021 6:11pm Feb 17, 2021 6:11pm
About 2.6 million people in the U.K., or 8% of workers, expect to lose their jobs in the next three months.
From bnnbloomberg.ca
A fool and his money are easily parted
  • #578,672
  • Feb 17, 2021 6:17pm Feb 17, 2021 6:17pm
Quoting FXInfoMagnet
Hi All, I'm new here and I'm hoping I could get some advice. I pretty much exclusively trade GBP/USD and I had an extremely profitable January, however, it all seemed to fade for me in February. My setup is pretty much as follows: BB Bands with a period of 13 and deviation of 2 EMA: 200 EMA: 100 EMA: 30 (for 5/15m) I use a Stoch set at 34,6,2 for 5 to 15 I usually let the chart and candles, and DXY guide me but I feel like I've lost my way slightly. Is there a whole lot more I should be looking at? Stocks, FTSE, etc. Obviously, I pay attention to...
Hi there,
some friends here already gave you good hints.
here is my 5 cents.
we need to see how you use those tools.
having the perfect hammer doesn't make you a perfect carpenter.
MM (money management) is key to any system/strategy you might have.
also, as already said those tools seems to fit better on ranging markets, but BB can also be used on trending or breakouts, depending on settings and market perception.
review ten times your loss trades. that's important to understand what went wrong.
not much more can be said if you don't place charts and explain why you enter in the market.
stay cool.
all the best.
If you don't know how to earn money, don't loose it.
  • #578,673
  • Feb 17, 2021 6:26pm Feb 17, 2021 6:26pm
Hi guys
I’m newbie. I'm stuck selling GU 1,36722, Gold, wti. My acc maybe will die soon. Can you guys give me some advice to help me please?
  • #578,674
  • Feb 17, 2021 6:59pm Feb 17, 2021 6:59pm
Quoting Finding
Hi guys I’m newbie. I'm stuck selling GU 1,36722, Gold, wti. My acc maybe will die soon. Can you guys give me some advice to help me please?
option 1: cut the loss (something you should had done earlier).
option 2: hedge buy. (something that can take days/weeks/months/years to solve, if swaps don't eat your account).
If you don't know how to earn money, don't loose it.
  • #578,675
  • Feb 17, 2021 7:04pm Feb 17, 2021 7:04pm
Quoting FXInfoMagnet
Hi All, I'm new here and I'm hoping I could get some advice. I pretty much exclusively trade GBP/USD and I had an extremely profitable January, however, it all seemed to fade for me in February. My setup is pretty much as follows: BB Bands with a period of 13 and deviation of 2 EMA: 200 EMA: 100 EMA: 30 (for 5/15m) I use a Stoch set at 34,6,2 for 5 to 15 I usually let the chart and candles, and DXY guide me but I feel like I've lost my way slightly. Is there a whole lot more I should be looking at? Stocks, FTSE, etc. Obviously, I pay attention to...
You have a good template, i think the bollinger bands is too much and the stochastic i changed to K_Period = 34, D_Period = 2, Slowing = 6.

Let's test it for to see.

Attached Image (click to enlarge)
Click to Enlarge Name: palpite.png Size: 26 KB
Together we can be strongest
Vantage Return This Month: na
  • #578,676
  • Feb 17, 2021 7:07pm Feb 17, 2021 7:07pm
Quoting coolmakina
{quote} option 1: cut the loss (something you should had done earlier). option 2: hedge buy. (something that can take days/weeks/months/years to solve, if swaps don't eat your account).
Should I cut all the loss and start from beginning?
  • #578,677
  • Feb 17, 2021 7:25pm Feb 17, 2021 7:25pm
Looks like GU correction is over with fallen wedge on H1 and divergence. This is also 61.8% fib from 1.38 to 1.395. Perhaps gathering momentum to propel it to 1.4.
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  • #578,678
  • Feb 17, 2021 7:26pm Feb 17, 2021 7:26pm
Quoting Finding
{quote} Should I cut all the loss and start from beginning?
my friend,
do not let no one decide that for you.
it's your money. you decide.
have you tried to close some positions or partial close, so that you could keep trade and feed the "hope"?
If you don't know how to earn money, don't loose it.
  • #578,679
  • Feb 17, 2021 7:44pm Feb 17, 2021 7:44pm
Quoting Finding
Hi guys I’m newbie. I'm stuck selling GU 1,36722, Gold, wti. My acc maybe will die soon. Can you guys give me some advice to help me please?
Stop trading and forget/avoid it at all Then Focus sell chicken at The Market
  • #578,680
  • Feb 17, 2021 8:01pm Feb 17, 2021 8:01pm
above 3850, one can expect 3900 first, R1

IMO
Intraday only.
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