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Cable Update (GBPUSD)

  • #581,021
  • Feb 27, 2021 9:01am Feb 27, 2021 9:01am
Quoting BeeTogether
{quote} doesn’t buying mean there will be a drop?
COT is a long term indicator. it wont tell you what price will do tomorrow. it shows how big institutions build positions for the long term
  • #581,022
  • Feb 27, 2021 9:01am Feb 27, 2021 9:01am
Quoting NotAtrader
{quote} It depends on who is buying. The post above doesn’t explicitly give any information about who are the buyers. Thus it is anyone’s guess. In this case just follow the technicals and not the wishful thinking.
They are the SMART MONEY (is write down )
  • #581,023
  • Feb 27, 2021 9:03am Feb 27, 2021 9:03am
Quoting NotAtrader
{quote} It depends on who is buying. The post above doesn’t explicitly give any information about who are the buyers. Thus it is anyone’s guess. In this case just follow the technicals and not the wishful thinking.
how is your 3% a day strategy doing? are you reaching your goals?
  • #581,024
  • Feb 27, 2021 9:07am Feb 27, 2021 9:07am
Quoting genadi
{quote} how is your 3% a day strategy doing? are you reaching your goals?
Never better. Thanks for asking. I wish you the same success if you already don’t have that.
No username yet? You are on my ignore list. Fuck off and do not quote me!
  • #581,025
  • Feb 27, 2021 9:12am Feb 27, 2021 9:12am
Quoting NotAtrader
{quote} Never better. Thanks for asking. I wish you the same success if you already don’t have that.
i am far from 3% a day.
struggling to make 3% a month
  • #581,026
  • Feb 27, 2021 10:56am Feb 27, 2021 10:56am
Quoting genadi
{quote} i am far from 3% a day. struggling to make 3% a month
Sad to hear that. If you struggle to make 3% a month then you should seriously revise your strategy, your approach and trading style mate. 3 % monthly is just over 0.1% per day and it is really low profit.

Here is an example: The average profit in pips is around 30 pips daily. Some make a lot more than that some make less. Let’s say you make 20 pips a day with an account balance of $200 and position size of 1 micro lot. This will give you 2 $ profit a day which is 1% of 200$. This is very easy mate. If you are in this game to make money you need to review your trading approach mate. This is my advice to you.
I wish you good luck
No username yet? You are on my ignore list. Fuck off and do not quote me!
  • #581,027
  • Feb 27, 2021 11:37am Feb 27, 2021 11:37am
Quoting NotAtrader
{quote} Sad to hear that. If you struggle to make 3% a month then you should seriously revise your strategy, your approach and trading style mate. 3 % monthly is just over 0.1% per day and it is really low profit. Here is an example: The average profit in pips is around 30 pips daily. Some make a lot more than that some make less. Let’s say you make 20 pips a day with an account balance of $200 and position size of 1 micro lot. This will give you 2 $ profit a day which is 1% of 200$. This is very easy mate. If you are in this game to make money...
i guess it depends on acc size
  • #581,028
  • Feb 27, 2021 12:11pm Feb 27, 2021 12:11pm
Quoting genadi
{quote} i guess it depends on acc size
What do you mean it depends on the account size? 1% is 1% no matter what.
I gave you the example which should be your goal for a start.

Account size = 200
Profit pips = 20 a day
Position size = 1 micro lot
If you make 20 pips for the day, you have 1% for that day.

Simple.
No username yet? You are on my ignore list. Fuck off and do not quote me!
  • #581,029
  • Feb 27, 2021 12:40pm Feb 27, 2021 12:40pm
Quoting NotAtrader
{quote} What do you mean it depends on the account size? 1% is 1% no matter what. I gave you the example which should be your goal for a start. Account size = 200 Profit pips = 20 a day Position size = 1 micro lot If you make 20 pips for the day, you have 1% for that day. Simple.
if it was simple, every one would make money trading forex. it is way harder than you say
  • #581,030
  • Feb 27, 2021 12:40pm Feb 27, 2021 12:40pm
Quoting W0lfram
{quote} Dark Cloud on Wkly TF. Same rules: {image} With a slight modification of last one: Current candle covers 50-90% of the prev. bullish candle. Last candle is identified as Dark Cloud{image} 1 standard lot size, TP - 800pips, SL - Infinity Single loss -130pips in 2002-2003. But the trade could have been closed earlier with a profit. {image}{image}
I have to laugh now ,why people want to complicate something simple
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On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #581,031
  • Feb 27, 2021 12:42pm Feb 27, 2021 12:42pm
Quoting genadi
{quote} if it was simple, every one would make money trading forex. it is way harder than you say
It for sure is hard, you actually have to first get over the hurdle of being consistently profitable. If you make it that far (few do) then it becomes 'simple' but not before a lot of groundwork, hard lessons, lost money, screen time and grind.
  • #581,032
  • Feb 27, 2021 12:43pm Feb 27, 2021 12:43pm
I can tell 100%
10 years looking at this with my eye thats not dark cloud and it matters
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On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #581,033
  • Feb 27, 2021 12:44pm Feb 27, 2021 12:44pm
Quoting genadi
{quote} if it was simple, every one would make money trading forex. it is way harder than you say
I know. It’s a knowledge based business mixed with a little bit of luck.
I sure wish everyone could do that and I know for most of the traders it is just a matter of time.
No username yet? You are on my ignore list. Fuck off and do not quote me!
  • #581,034
  • Feb 27, 2021 12:46pm Feb 27, 2021 12:46pm
Quoting mysterio
{quote} It for sure is hard, you actually have to first get over the hurdle of being consistently profitable. If you make it that far (few do) then it becomes 'simple' but not before a lot of groundwork, hard lessons, lost money, screen time and grind.
Spot on mate
No username yet? You are on my ignore list. Fuck off and do not quote me!
  • #581,035
  • Feb 27, 2021 1:03pm Feb 27, 2021 1:03pm
this is a classic shooting star ,it might retrace ,the way it closed down the body like that probably adds weight ,
take my word for it over that formula ,or just look at the pictures above to compare
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On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #581,036
  • Feb 27, 2021 1:08pm Feb 27, 2021 1:08pm
Quoting trumps
{quote} Looking at the weekly candle, it's reasonable to think there is tradeable movement south to come. Look historically at such weekly candles to see what comes after. Especially from stretched positions and previous resistance.

Very good point! Lets see what happens next week! Good luck to all fellow traders.
Don't trade what you think. Just what you see!!!
  • #581,037
  • Edited 6:34pm Feb 27, 2021 1:20pm | Edited 6:34pm
Fundamentally I think the US is just about to get a major financial sugar rush....
I also think inflation is very much an important factor moving forward.

The w1 candle we look at really stems from a treasury auction failure last week .
essentially the free market are not interested in buying US debt at that level because of inflation worries.

An important difference about the QE going into the real economy like Yellen announcement and this 1.9 package is theres a multiplier effect in the real economy.

If you drop 3 trillion new money into the real economy then GDP can go up 6 or 9 trillion or ?? depending on how people spend it.

The thing that can change outlooks is at what point will the FED intervene as they can't afford higher interest ,or the short end of the treasury curve to go negative.

I'm just pointing out the theme as I see it, but tech rules for us retail.


"Bottom line: policymakers are playing with matches and Thursday is an example of what happens when investors smell smoke. Yes, growth and recovery are driving the direction of yields, but the severity of the moves will in part be due to inefficient market dynamics fostered by the Fed since 2018."
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On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #581,038
  • Feb 27, 2021 1:25pm Feb 27, 2021 1:25pm
Quoting kuroro001
The last time we had such strong buying with indi going crazy we then had a move back to 1,3030 (when price was where it is now) I'm short a part here 3570 I may add 2 others one at 50 pips and 100 pips all for a move back to 30xx
are you still alive?
  • #581,039
  • Feb 27, 2021 1:27pm Feb 27, 2021 1:27pm
I AM PLANNING TO SWITCH to short at the start of next trading week
piercing bearish candle
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yes yes yes
  • #581,040
  • Feb 27, 2021 1:42pm Feb 27, 2021 1:42pm
Quoting Bones
{quote} I have to laugh now ,why people want to complicate something simple {image}
If it looks complicated to you it's your problem and problems need to be laughed at, you are right.
Air force
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