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Cable Update (GBPUSD)

  • #595,301
  • May 15, 2021 6:08am May 15, 2021 6:08am
Quoting nAVIN2007
{quote} I dont post as much, why? Because occasionally if you post a chart for predicting and this gives bias..u have to understand anything can happen just acept the risk..this is now what i am doing or trying too. nothing in this is definate. And on top of this we are small fish trying to survive in shark water..u know we are being hunted Stop losses are targeted
That’s so true! Cable especially. I don’t know why I trade Cable sometimes, I find GBPAUD far easier in spite of the worse spread, the stop hunts are there but not nearly as savage. Just a sucker for punishment I suppose!

I really enjoyed Trading In The Zone btw, reading it again now, yesterday was a better day using split position and just following my rules systematically. I am convinced Mark Douglas has read Science and Sanity by Alfred Korzybski as he uses similar concepts, but his application to trading is genius.
  • #595,302
  • Edited 7:25am May 15, 2021 6:09am | Edited 7:25am
Quoting nAVIN2007
{quote} one minute time frame for me is impossible bro
a chart is a chart
...and "A rose is a rose is a rose..."

dolce vita
  • #595,303
  • May 15, 2021 6:16am May 15, 2021 6:16am
Quoting babayaga
{quote} OK, besides.., because mostly I trade 1M chart (switching to other time frames ) I can feel "lost" sometimes (where we now (???) .., hope you understand what I mean.., ) that's only one of the reasons why I prefer "0" at the bottom and "100" at the top.. ...and if I am not looking for "expansion" down, I draw automatically as you saw it please, feel free to comment my posts (now and then)... thank you have a nice weekend
I agree, everything we need is on M1.
I can honestly say I haven't looked at higher time frames for months because for me, the higher times are noise.
Who cares if the daily is trending, the action starts and ends on a single one minute candle.
Trading thin liquidity at the boundary of the charts
  • #595,304
  • May 15, 2021 6:37am May 15, 2021 6:37am
Possible scenario
Attached Image (click to enlarge)
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  • #595,305
  • May 15, 2021 7:02am May 15, 2021 7:02am
This Analysis may seem weird and I do not oblige anyone to follow it but what I see here is a case of 1.3750 (minimum low) happening this May after a possible retest of 1.4150/1.4175 area, which means I'm invalidating a possible retest of 1.4240 area for now since 1.4090 got broken convincingly.
Attached Image (click to enlarge)
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Data + Stat + Risk/Emotions Management
  • #595,306
  • May 15, 2021 7:10am May 15, 2021 7:10am
Quoting jillder
{quote} Not my main occupation, but almost 3 years...Much less than you, that's for sure... Sorry if offended you, wans't my intention! Jillian
hi jillder,
excuse me for delay..,
I was thinking for a while about "enjoy" in terms of trading, because my first impression when I saw your post was:
"but what he is talking about, is he nuts (?)..."
excuse me
in my life I'd like to enjoy good food, good wine, nice view, beautiful shoes.., now we are talking about our emotions...
but
trading has nothing to do with it ( from my point of view )
less emotions - more success ( hypothetically )
no emotions - much more success
no, you didn't offend me, not even think this way
it 's only "wrong" word
have a nice weekend

P.S. btw, I still can "enjoy" good result of my trading
dolce vita
  • #595,307
  • May 15, 2021 7:10am May 15, 2021 7:10am
Quoting Bainbrito
{quote} That’s so true! Cable especially. I don’t know why I trade Cable sometimes, I find GBPAUD far easier in spite of the worse spread, the stop hunts are there but not nearly as savage. Just a sucker for punishment I suppose! I really enjoyed Trading In The Zone btw, reading it again now, yesterday was a better day using split position and just following my rules systematically. I am convinced Mark Douglas has read Science and Sanity by Alfred Korzybski as he uses similar concepts, but his application to trading is genius.
Thats great!! Im trying to get my younger brother to read it, but he is very stuborn. U can understand my thinking procress then as im trying to adapt this mind set competely
  • #595,308
  • May 15, 2021 7:31am May 15, 2021 7:31am
Quoting nAVIN2007
{quote} Thats great!! Im trying to get my younger brother to read it, but he is very stuborn. U can understand my thinking procress then as im trying to adapt this mind set competely
Absolutely, I hope your brother comes round to reading it - I hadn’t appreciated how good it would be but I guess it’s a classic for a reason. When the moment is right I’m sure he’ll get a lot from it
  • #595,309
  • May 15, 2021 7:52am May 15, 2021 7:52am
Quoting babayaga
{quote} a chart is a chart ...and "A rose is a rose is a rose..."

I disagree, a rose is a rose only when u think it is a rose
This is what makes the market so fascinating
  • #595,310
  • May 15, 2021 7:59am May 15, 2021 7:59am
Quoting Bainbrito
{quote} Absolutely, I hope your brother comes round to reading it - I hadn’t appreciated how good it would be but I guess it’s a classic for a reason. When the moment is right I’m sure he’ll get a lot from it

The funny thing is with him, he never demo traded so he has no idea how emotions are affecting his trading instead he is looking for the ultimate edge
  • #595,311
  • May 15, 2021 8:18am May 15, 2021 8:18am
Quoting nAVIN2007
{quote} The funny thing is with him, he never demo traded so he has no idea how emotions are affecting his trading instead he is looking for the ultimate edge
That makes sense, in an ideal world the ultimate edge would exist where you cannot fail and are never vulnerable to the market and your own human nature. It takes experience to understand that you can’t really fail at solving most trading problems as most trading problems are not solvable in the first place, there is far too much unknown information to solve the problems of predicting the market for one, and there are far too many psychological problems to solve to simply master yourself without proper knowledge that you can get from people like Mark Douglas - and yourself. So it’s not about failing to predict the market or whatever he does, it’s failing to play the right game. If he can select easy problems within trading, such as easier patterns on easier timeframes, on easier currency pairs, with solid money management, and takes his time, make his rules explicit, then focuses on making good decisions rather than how much money he is making (or losing!) - he is at least selecting a game he could win and not being played by the market makers. I hope he realises before his losses are too severe.
  • #595,312
  • May 15, 2021 8:42am May 15, 2021 8:42am
Quoting mysterio
{quote} Don't beat yourself up! I spent a few hours studying Fridays price action and comparing it to my rules/methodology and counted three very clear bullish signals and opportunities to get long that I was blinded to at the time. It happens, what matters is to be aware of your limitations and be prepared for the next time it happens. I like to just grab a handful of quick scalps whilst leaving small runners and not over-commit to the daily direction so you can still profit when you're wrong about the direction..it is more than enough to live...

Can you please validate my daily trend analysis of the cable. seems like going at 4.3 before coming in
the correction channel of the long term elliot wave.

https://www.tradingview.com/x/F0FMyaTd/
  • #595,313
  • May 15, 2021 9:25am May 15, 2021 9:25am
Quoting coyoteuglyxxx
{quote} I was watching a program on ITV in UK about a month ago with a similar scenario. A pensioner was lured in to start trading with GBP 5000.00 and he lost it all. I do not think that he was even trading and he was unable to recover it. The name FXTM caught my attention because I trade with FXCM, which sounds similar. I guess FXTM is just another scam by the looks of it. I hope you'll manage to get to the bottom of it!
I don't know why you guys keep spreading misinformation, people should not go trading based on ignorance, loose their funds and blame the broker. Am not saying
we don't have shitty brokers but until they withdraw money from your accounts or refuse to pay your withdrawals don't blame them for your ignorance.
There is an adage from were i come from that says" if your ask to put your hands in the physical fire will you? knowing your gonna get burnt if you try.
THE TRUTH IS SIMPLE,ACCEPTING THE SIMPLICITY OF THE TRUTH IS WHAT IS HARD
  • #595,314
  • May 15, 2021 9:29am May 15, 2021 9:29am
Still concerning the FXTM issue
I don't go taking bonuses from brokers because am knowledgeable enough, knowing what that means, it won't do me any good.
I know a good broker/honest by just looking at their site and reading some few things. etc
THE TRUTH IS SIMPLE,ACCEPTING THE SIMPLICITY OF THE TRUTH IS WHAT IS HARD
  • #595,315
  • May 15, 2021 9:55am May 15, 2021 9:55am
Quoting bilal.cybrog
{quote} Can you please validate my daily trend analysis of the cable. seems like going at 4.3 before coming in the correction channel of the long term elliot wave. https://www.tradingview.com/x/F0FMyaTd/
Hello, I am not an elliot wave trader so I cannot validate this unfortunately. I don't follow it at all, wave counts are really not my thing. Maybe someone who has experience with this methodology can chime in. I'm gonna post my charts a bit later. Good luck!
  • #595,316
  • May 15, 2021 10:11am May 15, 2021 10:11am
Quoting martinez1
{quote} I don't know why you guys keep spreading misinformation, people should not go trading based on ignorance, loose their funds and blame the broker. Am not saying we don't have shitty brokers but until they withdraw money from your accounts or refuse to pay your withdrawals don't blame them for your ignorance. There is an adage from were i come from that says" if your ask to put your hands in the physical fire will you? knowing your gonna get burnt if you try.
This is a fact and the name FXTM came up on the UK news about a month ago as a scam broker who conned up a pensioner out of £5K and declined to answer presenter's call to comment. No misinformation here mate!! I have no idea who FXTM is. It just sounds very similar to FXCM. That's what caught up my eye, hence my comments.
Did you place your stop loss order? Why not?!? Story of my life...
  • #595,317
  • May 15, 2021 10:13am May 15, 2021 10:13am
Quoting coyoteuglyxxx
{quote} This is a fact and the name FXTM came up on the UK news about a month ago as a scam broker who conned up a pensioner out of £5K and declined to answer presenter's call to comment. No misinformation here mate!! I have no idea who FXTM is. It just sounds very similar to FXCM. That's what caught up my eye, hence my comments.
You sure you are not mistaking FXTM with FXCM? I have been using FXTM for over 8 years now and no worries whatsoever
  • #595,318
  • May 15, 2021 10:16am May 15, 2021 10:16am
Quoting martinez1
Still concerning the FXTM issue I don't go taking bonuses from brokers because am knowledgeable enough, knowing what that means, it won't do me any good. I know a good broker/honest by just looking at their site and reading some few things. etc
FXTM is my broker and like i said, no worries for 8 years. Deposits and withdrawals OK. I don't do bonuses too. Let me be seeing my exact cash joor
  • #595,319
  • May 15, 2021 10:18am May 15, 2021 10:18am
Quoting bilal.cybrog
{quote} Can you please validate my daily trend analysis of the cable. seems like going at 4.3 before coming in the correction channel of the long term elliot wave. https://www.tradingview.com/x/F0FMyaTd/
Your E.W looks cool but do you think wave 4 retraced very well before heading for wave 5?
  • #595,320
  • May 15, 2021 10:24am May 15, 2021 10:24am
Quoting Nd10
{quote} You sure you are not mistaking FXTM with FXCM? I have been using FXTM for over 8 years now and no worries whatsoever
Like I said earlier, the names sound very similar, but the name in the news was FXTM not FXCM. I have an account with FXCM, and when Georginson commented about his misfortune with FXTM, I decided to share what I’ve seen on TV in relation to FXTM in UK.
Did you place your stop loss order? Why not?!? Story of my life...
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