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Cable Update (GBPUSD)

  • #626,601
  • Sep 28, 2021 12:53pm Sep 28, 2021 12:53pm
Quoting Jolita
Quoting Wavegarrick
{quote} Thanks Garrick for a valued advice. I choose to hold trades. Recently my best trades turned to be short ones. This looks like the way forwards with currency pairs. I need to look into futures for long term investment. Got enough of seeing red numbers. Part of my trades I was holding since mid summer. My stop loss was set at 13520, manually closed early. What can I say... markets are cruel, get in, take what's yours and get out. Always follow trend (f.e today). Best to take smaller profits, then let it go against
...


before u decide to trade long term..ask yourself 1 question, WHAT TYPE OF TRADER I WANT TO BE


close your eyes and talk to yourself, say i can do this and start following rules that u set
MY OPINION NOT FINANCIAL ADVISE
  • #626,602
  • Sep 28, 2021 1:02pm Sep 28, 2021 1:02pm
Likely to bounce off 1.35100
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Grit; Knowledge; Right Mindset; All you need to overcome. KIS!
  • #626,603
  • Sep 28, 2021 1:05pm Sep 28, 2021 1:05pm
just for guide..
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  • #626,604
  • Sep 28, 2021 1:06pm Sep 28, 2021 1:06pm
Quoting donfriday
{quote}{quote} before u decide to trade long term..ask yourself 1 question, WHAT TYPE OF TRADER I WANT TO BE close your eyes and talk to yourself, say i can do this and start following rules that u set
Don, not always works how you plan or want to be. This is risk taking, some days you are lucky, some are not.
  • #626,605
  • Sep 28, 2021 1:13pm Sep 28, 2021 1:13pm
Quoting Jolita
{quote} Don, not always works how you plan or want to be. This is risk taking, some days you are lucky, some are not.


i didnt give up ..i burn several account, sold my car to trade fx in 2010 after burning several account in 2009 and so on


i am still here...


you will learn from failure , never give up
MY OPINION NOT FINANCIAL ADVISE
  • #626,606
  • Sep 28, 2021 1:14pm Sep 28, 2021 1:14pm
Just came back to see GU crushed! Most of the people trying to buy but their stops keep getting hit. Why try catch a falling knife? Personally, i better get trap going in the direction of the trade rather than trying to predict turning points. Market does what it wants.

We might not even see significant pullback because the smart mind knows they will release most trapped traders, yet they want to smash them entirely. I wont be surprised if Price consolidate and continue with the down move. However, if it gives me a pullback, i'll ride it down hard.

DXY, i'm still bullish

Those who made money selling GU, congrats!

Reason for dollar gain:

Federal Reserve Chair Jerome Powell said on Tuesday the U.S. economy is still far from achieving maximum employment, a key component of the central bank's requirements for raising interest rates.
"What I said last week was that we had all but met the test for tapering," said Powell, testifying before the U.S. Senate Banking Committee. "I made it clear that we are, in my view, a long way from meeting the test for maximum employment."
Fed officials said they would keep buying $120 billion a month in bonds until there is "substantial further progress" toward the Fed's maximum employment and inflation goals, but they have set a higher bar for raising interest rates."
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  • #626,607
  • Sep 28, 2021 1:27pm Sep 28, 2021 1:27pm
Quoting donfriday
{quote} i didnt give up ..i burn several account, sold my car to trade fx in 2010 after burning several account in 2009 and so on i am still here... you will learn from failure , never give up
Same story with me, never giving up.
Back in 2010 from Zero to £50k in less then a year trading after hours on mobile. Later followed good signals comp, overtraded, lost all, wrong, never trust anyone!
Took a break from markets.
From Jan this year got involved in a investment scam, lost nearly £50k. Sold my car. Recovering money back.

Back to Fx since June, working OK, need more research, commitment and time for analysis. Possible to achieve.
Sounds crazy but I like financial markets. Will only give up when pleased with my results.
Stay positive, believe in yourself, you will achieve!
  • #626,608
  • Sep 28, 2021 1:29pm Sep 28, 2021 1:29pm
Quoting Jolita
Quoting Wavegarrick
{quote} Thanks Garrick for a valued advice. I choose to hold trades. Recently my best trades turned to be short ones. This looks like the way forwards with currency pairs. I need to look into futures for long term investment. Got enough of seeing red numbers. Part of my trades I was holding since mid summer. My stop loss was set at 13520, manually closed early. What can I say... markets are cruel, get in, take what's yours and get out. Always follow trend (f.e today). Best to take smaller profits, then let it go against
...
Yea I did struggle today I gotta say. Like WaveG says I love the rangy conditions being primarily a scalper and go in almost expecting this every day. The beauty is you can just take one or two very quick high RR trades a day that will be good in 80% of market conditions.

I do have to look back at days like this and ask myself why I try to bone headedly try and catch a falling knife, but the fact of the matter is we don't truly know in advance when it's gonna range and when it will breakout...very easy to fall into mental traps based on past experience. There are some range trading tricks which just flat out failed today. S&D zones, forget it, several got blasted straight out.

Now the real kicker is can swing/intraday/scalp be combined somehow into one happy medium ? I'm not sure if it can frankly, there was a time earlier in the year where I was having some good success intraday so started thinking I knew how to swing as well... (I didn't), and ended up just not taking profit when I should have. I honestly think you just have to stick with one specific style and become a master of it and try not to overexpose yourself.

I'm looking at that bond auction too as the primary driver as it was GBP specific and did send the Gilt market into overdrive. I'm gonna be more aware of this event and also I think Tuesdays tend to be big move days so I'll maybe try and ride the direction better on these active days. Whilst not gonna hindsight justify any decisions it's good to be cognizant of improvements to trading plan etc, things to watch.

Thanks to all the Gurus on here with their great short calls but hey ultimately you got to trust yourself and nobody else
  • #626,609
  • Sep 28, 2021 1:30pm Sep 28, 2021 1:30pm
Quoting Jolita
{quote} Same story with me, never giving up. Back in 2010 from Zero to £50k in less then a year trading after hours on mobile. Later followed good signals comp, overtraded, lost all, wrong, never trust anyone! Took a break from markets. From Jan this year got involved in a investment scam, lost nearly £50k. Recovering. Back to Fx since June, working OK, need more research, commitment and time for analysis. Possible to achieve. Sounds crazy but I like financial markets. Will only give up when pleased with my results. Positive..

motivate urself
if u quit u have fail
fall and rise thats make u a winner.
MY OPINION NOT FINANCIAL ADVISE
  • #626,610
  • Sep 28, 2021 1:31pm Sep 28, 2021 1:31pm
Those who watched my analysis on GU crushed the market on the sell. Those who were chasing 1.38 got stopped out. Sorry to hear that fellow traders.


Happy Trading everyone.
  • #626,611
  • Sep 28, 2021 1:35pm Sep 28, 2021 1:35pm
Quoting Jolita
{quote} Same story with me, never giving up. Back in 2010 from Zero to £50k in less then a year trading after hours on mobile. Later followed good signals comp, overtraded, lost all, wrong, never trust anyone! Took a break from markets. From Jan this year got involved in a investment scam, lost nearly £50k. Sold my car. Recovering money back. Back to Fx since June, working OK, need more research, commitment and time for analysis. Possible to achieve. Sounds crazy but I like financial markets. Will only give up when pleased with my results. Stay...
I am zero at last Friday, but not give up, I think try try again every thing possible.
  • #626,612
  • Sep 28, 2021 1:36pm Sep 28, 2021 1:36pm
IF this week GBPSEK hits the target to my target and week closes around it, I have found what I was looking, however never stop learning. Everything is planned before it happens. We need just to exploit the intention. Absence of proof doesn't mean it's true or false. Just research, learn and everything is possible.
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  • #626,613
  • Sep 28, 2021 1:43pm Sep 28, 2021 1:43pm
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  • #626,614
  • Sep 28, 2021 1:47pm Sep 28, 2021 1:47pm
Retracement and retest are coming get ready for a new entry.
  • #626,615
  • Sep 28, 2021 2:01pm Sep 28, 2021 2:01pm
Quoting Jolita
{quote} Same story with me, never giving up. Back in 2010 from Zero to £50k in less then a year trading after hours on mobile. Later followed good signals comp, overtraded, lost all, wrong, never trust anyone! Took a break from markets. From Jan this year got involved in a investment scam, lost nearly £50k. Sold my car. Recovering money back. Back to Fx since June, working OK, need more research, commitment and time for analysis. Possible to achieve. Sounds crazy but I like financial markets. Will only give up when pleased with my results. Stay...
It seems like all our stories in this trading journey are very similar as most of us had to sacrifice a lot. However, one thing that we all have in common is believing and never giving up. All the best man
  • #626,616
  • Sep 28, 2021 2:04pm Sep 28, 2021 2:04pm
Quoting donfriday
{quote} i didnt give up ..i burn several account, sold my car to trade fx in 2010 after burning several account in 2009 and so on i am still here... you will learn from failure , never give up
Very inspiring bro. Thanks for sharing
  • #626,617
  • Edited Sep 29, 2021 8:40am Sep 28, 2021 2:10pm | Edited Sep 29, 2021 8:40am
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yes yes yes
  • #626,618
  • Sep 28, 2021 2:13pm Sep 28, 2021 2:13pm
Quoting Brian-911
{quote} It seems like all our stories in this trading journey are very similar as most of us had to sacrifice a lot. However, one thing that we all have in common is believing and never giving up. All the best man


I think the new coming traders are very lucky social media and so on

1 youtube
2 telegram
3 friends or mentor nearby to learn from

in 2008-2009 when i was getting into fx nobody is available to teach me in my country, most mentors i found are on FF and mostly struggling too but more knowledgable than me..

i can only say i am better than before but i am still here learning with the same ups and downs, how did i survive? i spent several hours screening charts changing colors and strategies and worst of it i didn't know there were people that actually decide what should happen.
to succeed was my main goal but it didnt know i am ready to punch my computer losing money every day and refunding.

DONT GIVE UP U WILL SAIL...
MY OPINION NOT FINANCIAL ADVISE
  • #626,619
  • Sep 28, 2021 2:26pm Sep 28, 2021 2:26pm
Quoting donfriday
{quote} I think the new coming traders are very lucky social media and so on 1 youtube 2 telegram 3 friends or mentor nearby to learn from in 2008-2009 when i was getting into fx nobody is available to teach me in my country, most mentors i found are on FF and mostly struggling too but more knowledgable than me.. i can only say i am better than before but i am still here learning with the same ups and downs, how did i survive? i spent several hours screening charts changing colors and strategies and worst of it i didn't know there were people that...
While its lucky to some degree, there's a lot of shit that people have to search through to actually find something decent.
  • #626,620
  • Sep 28, 2021 2:32pm Sep 28, 2021 2:32pm
Quoting donfriday
{quote} I think the new coming traders are very lucky social media and so on 1 youtube 2 telegram 3 friends or mentor nearby to learn from in 2008-2009 when i was getting into fx nobody is available to teach me in my country, most mentors i found are on FF and mostly struggling too but more knowledgable than me.. i can only say i am better than before but i am still here learning with the same ups and downs, how did i survive? i spent several hours screening charts changing colors and strategies and worst of it i didn't know there were people that...
Thanks for sharing bro
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