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Cable Update (GBPUSD)

  • #579,901
  • Feb 23, 2021 2:53am Feb 23, 2021 2:53am
Quoting knkie
{quote} Trading has nothing to do with finance. Its human behavior on a chart. To be specific: it is Fear and Greed on a chart. side note: i hope you are locking in your profits on the sell's because price may start to turn upward soon.

Thanks Knkie.

Does anyone know what is the world percentage Algo Trading vs Human Trading ?

What will happen in 10 years in future, as Algo become smarter and machine learning will be in advance learning capabilities.

In 10 years from now , I will be 28 years old. Am I going to be better trader than Algo ? Or 99% of world trading done by Algo.

Only handful of people still want to trade manually.

Don't to go into path that will be less useful in future.
  • #579,902
  • Feb 23, 2021 3:03am Feb 23, 2021 3:03am
bearish butterfly on weekly/daily
but hell no, im not shorting this monster ATM..
best for me is 1.475-1.48
imo in 3 weeks.. till then... sleep
Attached Image (click to enlarge)
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  • #579,903
  • Feb 23, 2021 3:03am Feb 23, 2021 3:03am
Quoting Sang.Real
{quote} Thanks Knkie. do anyone know what is the world percentage Algo Trading vs Human Trading ? What will happen in 10 years in future, as Algo become smarter and machine learning will be in advance learning capabilities. In 10 years from now , I will be 28 years old. Am I going to be better trader than Algo ? Or 99% of world trading done by Algo. Only handful of people still want to trade manually. Don't to go into path that will be less useful in future.
I totally understand where you are coming from mate but in my opinion you are too concerned about what will happen in 10 years time and not living in the moment. You might be right 'algo' might be the way forward in Forex but at this moment in time its all about human behaviour as Knkie said. Make as much money as possible while you can and when 'algo' takes over you can either learn from it and incorporate it in your trading or leave forex all together. But as you said, its 10 years down the line.
  • #579,904
  • Feb 23, 2021 3:07am Feb 23, 2021 3:07am
gbpusd.
sell. 1.40842.
  • #579,905
  • Feb 23, 2021 3:12am Feb 23, 2021 3:12am
This ain’t dropping. Took 4 pips gone long now
Insane in the Brain..
  • #579,906
  • Feb 23, 2021 3:13am Feb 23, 2021 3:13am
'Morning fellas,
when i said this to be a good level to scalp i was not thinking that price would range around such a long period.
i didn't activated my "ranging mode" trading strategy...
well, i keep waiting.
Stay cool.
If you don't know how to earn money, don't loose it.
  • #579,907
  • Feb 23, 2021 3:19am Feb 23, 2021 3:19am
Most traders are busy worrying of what price levels to buy/sell and Tp/Sl at than about money management.

Most traders blow their accounts not because of wrong entries but because of risking more than 1-2% of their account balance on a single trade.

When you're risking more than you can afford to loose just because you're greedy to earn more profits in short time, you're also subject to becoming nervous as price goes against you, that leads to taking more wrong decisions.

While if you just risk that 1-2%, you're way more relaxed as you know that the worse that can happen is that small % loss and you can also more easy play around it if you see price might retrace at some level corresponding to that % so you might keep order open for no or less loss..

What about everyone here try for one month only, risking no more than 2% of their account balance and judge the outcome after that to decide if you can continue so..can you all do that??
My technical analysis leading trades depend on Daily/Weekly/Monthly Chart
  • #579,908
  • Feb 23, 2021 3:20am Feb 23, 2021 3:20am
Short entered although it doesn't look good for short
Attached Image (click to enlarge)
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  • #579,909
  • Feb 23, 2021 3:25am Feb 23, 2021 3:25am
Apart from me, is there anyone else in from the major bottom around 1.2740 from Sep 2020 ?
  • #579,910
  • Feb 23, 2021 3:29am Feb 23, 2021 3:29am
Quoting cspip
Apart from me, is there anyone else in from the major bottom around 1.2740 from Sep 2020 ?
long or short?
If you don't know how to earn money, don't loose it.
  • #579,911
  • Feb 23, 2021 3:31am Feb 23, 2021 3:31am
Quoting cspip
Apart from me, is there anyone else in from the major bottom around 1.2740 from Sep 2020 ?
You are short?
  • #579,912
  • Edited 3:50am Feb 23, 2021 3:31am | Edited 3:50am
Quoting coolmakina
{quote} long or short?

Attachment g

Long of course. When the price was at 1.2750, my initial target was 1.3914, ...now took most off, but still expecting higher.
  • #579,913
  • Feb 23, 2021 3:32am Feb 23, 2021 3:32am
  •  Rgkc
  • | Joined Dec 2010 | Status: Never stop learning about forex! | 419 Posts
Quoting Moty
get ready for 1.40500 area {image} {image} {image}
beware.
I think this shit (gold) is going to shoot up.
Studing..............
  • #579,914
  • Feb 23, 2021 3:35am Feb 23, 2021 3:35am
Quoting cspip
{quote} Long of course. When the price was at 1.2750, my initial target was 1.3914, ...now took most off, but still expecting higher.
good one then, congrats.
If you don't know how to earn money, don't loose it.
  • #579,915
  • Feb 23, 2021 3:36am Feb 23, 2021 3:36am
to catch a good move , we need to wait for price to cross the band
and then continue in the same direction after a pull back to the band
Attached Image (click to enlarge)
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yes yes yes
  • #579,916
  • Feb 23, 2021 3:37am Feb 23, 2021 3:37am
Quoting Sang.Real
{quote} That's Haram under Syariah Law. Legally married is the solution for you.
3 wives + 2 camel ?
  • #579,917
  • Feb 23, 2021 3:39am Feb 23, 2021 3:39am
Quoting Moty
to catch a good move , we need to wait for price to cross the band and then continue in the same direction after a pull back to the band {image}
I tot we just need a good and strong hammer only is enough
  • #579,918
  • Feb 23, 2021 3:41am Feb 23, 2021 3:41am
My weekly chart
Attached Image (click to enlarge)
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  • #579,919
  • Feb 23, 2021 3:43am Feb 23, 2021 3:43am
Quoting Sang.Real
{quote} I don't want to end up doing something that is not worth the time spent. Chasing a dream, hours /day/months/years of learning with disappointing end of the day result over the period of 10 years. In years to come, Algo will take over in financial trading. Only handful human still trading Forex - sadly to say.... they are retail traders. Algo are more efficient and move BIG amount in split second. Human are at mercy of machine.
If machines will take over trading, who will the machines compete against? What will be the edge of one machine over other (Unless there is a human behind the algo one way or other that makes one algo better than other)? Human psychology is what draws the charts. Absence of human element means no markets to trade. My view.
  • #579,920
  • Feb 23, 2021 3:48am Feb 23, 2021 3:48am
I entered a long just now based on low/lower low in m 5 time frame
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