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Cable Update (GBPUSD)

Quoting Jolita
Hi, what a crazy sell off! Noticed this is happening during bond auctions. Why never rises in my favour? Gutted today, closed all my open positions. Starting fresh. Wish me luck
Hi Jolita,
As my buddy, I thought to give my input here. You can take it for what it is. Bond auctions, med impact news or even low impact news will be used as an excuse for market sell-offs by the media, well-known Guru's, and so forth. My thoughts, a scalper will do well in ranging markets and a trend trader won't. A trend trader sees the potential for a breakout whereas a scalper won't. A scalper sees the potential to milk the market in ranging periods whereas a trend trader won't. Don't be gutted. You will get up and do your thing I am sure.
There is a place for all of us in this market. I just wish I was good at both
Trade to trade another day
Quoting Wavegarrick
{quote} Hi Jolita, As my buddy, I thought to give my input here. You can take it for what it is. Bond auctions, med impact news or even low impact news will be used as an excuse for market sell-offs by the media, well-known Guru's, and so forth. My thoughts, a scalper will do well in ranging markets and a trend trader won't. A trend trader sees the potential for a breakout whereas a scalper won't. A scalper sees the potential to milk the market in ranging periods whereas a trend trader won't. Don't be gutted. You will...

a greedy scalper like too much Breast milk
I NEVER LOSE/=I EITHER WIN OR LEARN
Same as below targets
Note: these aren't supply and demand
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Quoting MTF Test
{quote} Hey Coreg, How do I learn the way you trade? EW
MTF Test, you can't. I belong to a secret society-it's called Cable Update (GBPUSD).... Just kidding. I try to keep it simple. I follow only 2 patterns: ABC, and 1-2-3-4-5 on daily, and 30M TF (it's not important what TF's you choose). If you know how to mark the lighting bolt sign, you know how to use Elliott principles.
http://forex-indicators.net/cycle-in...ott-waves/plan Don't worry about labeling just follow the Fibonacci ratio to identify the zones for the end of waves. Labeling leave for academia.
Always trade your own plan...I don't provide trading signals.
Etherum and Bitcoin
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Quoting Coreg2004
{quote} MTF Test, you can't. I belong to a secret society-it's called Cable Update (GBPUSD).... Just kidding. I try to keep it simple. I follow only 2 patterns: ABC, and 1-2-3-4-5 on daily, and 30M TF (it's not important what TF's you choose). If you know how to mark the lighting bolt sign, you know how to use Elliott principles. http://forex-indicators.net/cycle-in...ott-waves/plan Don't worry about labeling just follow the Fibonacci ratio to identify the zones for the end of waves. Labeling leave for academia....
I wanted to learn EW fifteen years ago. But I quit. I wanted easy way out. Didn't find any shortcuts. after about 5-10 years (Not full time) of research I found what I wanted. However it's time for me to gain more knowledge on different aspects of trading. I am actually using fib, and extensions. hopefully it might help me to understand better.

Thanks for your help.

Jude
Fools Rushing
[quote=Wavegarrick;13724684]{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 you. There will be always another chance.
Allways learning...
let go print more money




i am waiting for it
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I NEVER LOSE/=I EITHER WIN OR LEARN
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
I NEVER LOSE/=I EITHER WIN OR LEARN
Likely to bounce off 1.35100
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Grit; Knowledge; positive mindset; all you need to overcome & KIS!!!
just for guide..
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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.
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
I NEVER LOSE/=I EITHER WIN OR LEARN
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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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!
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
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.
I NEVER LOSE/=I EITHER WIN OR LEARN
  •  duve
  • Joined Nov 2015 | Status: Patience and Timing is key. | 477 Posts | Online Now
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.
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.
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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