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Cable Update (GBPUSD)

  • #598,081
  • May 27, 2021 6:34pm May 27, 2021 6:34pm
dix cruised into previous daily & 4hr high with daily upper falling tl come into play, will be tough zone but if she gets through she could fly??
If you are new to Forex? Say Goodbye to your account!!
  • #598,082
  • May 27, 2021 8:45pm May 27, 2021 8:45pm
Attached Image (click to enlarge)
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yes yes yes
  • #598,083
  • May 27, 2021 8:56pm May 27, 2021 8:56pm
Quoting Wavegarrick
{quote} Hi Guys, Took a sell trade at my daily pivot at 1.41341 and now with my 4 hr candle close. Stop losses 35 pips. Kinda iffy at the mo. It is important for a clear break below 1.4100. Trade safe, Cheers. {image}
Hello Bro, please would you be kind enough to share your indicators and template ? I'll forever be grateful
  • #598,084
  • May 27, 2021 8:57pm May 27, 2021 8:57pm
Hope it go up to 1.423 before going down..
  • #598,085
  • May 27, 2021 9:20pm May 27, 2021 9:20pm
GU

Warm up trade. All trades are for scalping only.

May be thinking to short this from top rejexction candle, going down to RBS zone and it bounce price action from the to the upside later.


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  • #598,086
  • May 27, 2021 9:30pm May 27, 2021 9:30pm
Hoping for a new high

Cheers !
Attached Image (click to enlarge)
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Fools Rushing
  • #598,087
  • May 27, 2021 9:44pm May 27, 2021 9:44pm
Bumpy ride towards new high and then down
  • #598,088
  • May 27, 2021 9:56pm May 27, 2021 9:56pm
Pen down my thought (as Newbie) on my trading edge.


Money Management is my edge.

No matter how good or bad a day, week, month is good money management will always allow you to trade another day.

I have considered myself a risk manager instead of a money manager.

However if I have a plan, and it include losses. (seriously.....).

I don't always need to beat a loss into the ground trying to figure out what happened.

Good trades can and go bad, if you planned the trade out and had reasons to enter with a good risk to reward ratio than a loss is nothing to worry about.

After all, that is the Risk side of the risk / reward ratio.

Bad trades can turn good as well, this doesn't mean they were taken for the right reasons.

Therefore, my fellow traders (Newbie especially) manage your risk. Take your losses and stand up and fight another day.

Picture below to show how BAD my trade was. Series of losses (15 in total). Small numbers of win. Win rate : less than 40%.

Take small loss and set up for the next fight.

Good luck

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  • #598,089
  • May 27, 2021 10:23pm May 27, 2021 10:23pm
My friend getenio always tells me don't try to catch big moves in gold , just hit and run
So i listened
Waiting for next set up
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yes yes yes
  • #598,090
  • May 27, 2021 10:23pm May 27, 2021 10:23pm
Quoting Sang.Real
Pen down my thought (as Newbie) on my trading edge. Money Management is my edge. No matter how good or bad a day, week, month is good money management will always allow you to trade another day. I have considered myself a risk manager instead of a money manager. However if I have a plan, and it include losses. (seriously.....). I don't always need to beat a loss into the ground trying to figure out what happened. Good trades can and go bad, if you planned the trade out and had reasons to enter with a good risk to reward ratio than a loss...
Wise Words..
  • #598,091
  • May 27, 2021 10:28pm May 27, 2021 10:28pm
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yes yes yes
  • #598,092
  • May 27, 2021 10:30pm May 27, 2021 10:30pm
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We cut the winners short and let the losers run.
  • #598,093
  • May 27, 2021 10:30pm May 27, 2021 10:30pm
Had a short with an overnight TP of 14180 the drop missed it by 1.9 arrrgh ! Any TP revised to 141 with SL at 14211 (b/e -1)

also last Friday of the month we could see a fair bit profiteering especially as Monday is a bank holiday
Insane in the Brain..
  • #598,094
  • May 27, 2021 10:34pm May 27, 2021 10:34pm
Quoting MTF Test
Hoping for a new high Cheers ! {image}
SL triggered with with +

Selling Now
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Fools Rushing
  • #598,095
  • May 27, 2021 10:37pm May 27, 2021 10:37pm
Quoting MTF Test
Hoping for a new high Cheers ! {image}
I have never actually tried to trade a 5 minute or 1 minute chart, interested to know how u know when to pull the trigger..even anything less than 4hr for me is like how the hell? i need to learn how to do this from u guys..
  • #598,096
  • May 27, 2021 10:40pm May 27, 2021 10:40pm
Quoting IBabyTrader
Hi bro Sang, I am interested to see your setup/suggestion on where to go from here. I shorted, it went up and took my SL, I went long, I it immediately dropped 20 pips just now. What on earth is going on me with :-(

Hi IBabyTrader,

Sorry for the late reply. Was busy managing trades and set up. My apology.

First of all, I'm sorry for your loss. It is very hard for anyone (including experienced traders) to make money in forex.

It is so much easier - and more importantly, possible - to control your losses.

That's what money management is all about. No one knows were a pair will go at any given moment. No one.

Neither short term nor long. Not even the most experienced and profitable traders in the world.

Sure, they may have better guesses (OK, let's give them a bit more credit - predictions)than the rest of us.

And I assume they're strict about money management.

But for them too, it's all probabilities.

So if you're not able to control your profits (and you're not, no one can) - control your losses.
There is no replacement for hard work, patient learning, and hours of devoted chart analysis. There is no magic formula for turning 1k to 1,000,000.

Forget about making quick profits here.

Won't happen. Sorry to discourage you. Open small positions, cut your losses quickly, and let your winning trades run.

Good luck, and may the market gods be with you.

Sang Real
  • #598,097
  • May 27, 2021 10:40pm May 27, 2021 10:40pm
Quoting Sang.Real
Pen down my thought (as Newbie) on my trading edge. Money Management is my edge. No matter how good or bad a day, week, month is good money management will always allow you to trade another day. I have considered myself a risk manager instead of a money manager. However if I have a plan, and it include losses. (seriously.....). I don't always need to beat a loss into the ground trying to figure out what happened. Good trades can and go bad, if you planned the trade out and had reasons to enter with a good risk to reward ratio than a loss...

I need to learn how to trade like u?... I have to admit there is a fine line between a good and bad trade. I think the key to your success is actually in the management of your successful trades
  • #598,098
  • May 27, 2021 10:44pm May 27, 2021 10:44pm
Quoting KiwiTrada
dix cruised into previous daily & 4hr high with daily upper falling tl come into play, will be tough zone but if she gets through she could fly??
she has poked her nose through:-) good start
If you are new to Forex? Say Goodbye to your account!!
  • #598,099
  • May 27, 2021 10:48pm May 27, 2021 10:48pm
Quoting KiwiTrada
{quote} she has poked her nose through:-) good start
hopefully today is the drop day!
Insane in the Brain..
  • #598,100
  • May 27, 2021 10:50pm May 27, 2021 10:50pm
Quoting Sang.Real
{quote} Hi IBabyTrader, Sorry for the late reply. Was busy managing trades and set up. My apology. First of all, I'm sorry for your loss. It is very hard for anyone (including experienced traders) to make money in forex. It is so much easier - and more importantly, possible - to control your losses. That's what money management is all about. No one knows were a pair will go at any given moment. No one. Neither short term nor long. Not even the most experienced and profitable traders in the world. Sure, they may have better guesses (OK, let's give...
If I may add to this,

One may want learn to run profits at the same time controlling your risk could be the secret behind a successful trader.
In the both of the above scenarios you face pain to loose or pain to protect what you have earn which comes with fear. Face the fear, over come the pain for loosing, If you really want to be successful. It is not easy.

To be honest there is one religion teaching which describes all of the above to be a better person. i always say, Better person = Better trader.
Fools Rushing
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