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Cable Update (GBPUSD)

  • #641,101
  • Nov 23, 2021 11:22am Nov 23, 2021 11:22am
Sorry if its out of topic, i wanted to ask if GBP pairs are correlated to each other? For example I went long on GU and short on GJ. Is it okay to do so?
  • #641,102
  • Nov 23, 2021 11:28am Nov 23, 2021 11:28am
Quoting genadi
{quote} imagine scalping for 2-3 pips when your spread is bigger than 2 pips.
That would be unthinkable. The guy in the clip was trading part time for a hedge fund and I guess they (Hedge Funds) benefit from special deals and super ultra low spread, But, still you’d need to be pretty good at that and it looks as if this is a very laborious but profitable strategy. If you are a 2-3-5 pip scalper, you couldn’t care less if there is a trend or not. Range would be great. I would say that most traders here in the GU thread are looking for a trade related to a trend in one direction or another, while the majority of the time she is ranging. The scalpers are the winners, no doubt about it..
Did you place your stop loss order? Why not?!? Story of my life...
  • #641,103
  • Nov 23, 2021 11:31am Nov 23, 2021 11:31am
Quoting 3xtazzy
Sorry if its out of topic, i wanted to ask if GBP pairs are correlated to each other? For example I went long on GU and short on GJ. Is it okay to do so?
You can check the correlation here
https://www.myfxbook.com/forex-market/correlation

nothing 100%, but i prefer not to trade gbp/xxx up and gbp/yyy down.
  • #641,104
  • Nov 23, 2021 11:42am Nov 23, 2021 11:42am
Quoting genadi
{quote} imagine scalping for 2-3 pips when your spread is bigger than 2 pips.

such trader is still afraid of the market


20-25 pips is ok for scalp
MY OPINION NOT FINANCIAL ADVISE
  • #641,105
  • Nov 23, 2021 11:52am Nov 23, 2021 11:52am
Looks like retest
  • #641,106
  • Nov 23, 2021 12:11pm Nov 23, 2021 12:11pm
Quoting Mr.Burger
{quote} {quote} I'm still confident that the price will go south when he fails to kiss 3525 {image}
Unbelievable confidence.
You smashed it!
  • #641,107
  • Nov 23, 2021 12:11pm Nov 23, 2021 12:11pm
Quoting genadi
how do you decide when to add to an open position when price goes against you and when close the position with a loss?
Need to spot swings otherwise you can end up overtrading. cable will finally find support for a pullback. Initially targeting pullback 13530 now i am ok closing at 13468. Maybe 80 pips profit instead of 130 with small positions as going long is countertrend at this moment
POSTMASTER
  • #641,108
  • Nov 23, 2021 12:16pm Nov 23, 2021 12:16pm
Attached Image (click to enlarge)
Click to Enlarge Name: gu2.png Size: 39 KB
yes yes yes
  • #641,109
  • Nov 23, 2021 12:17pm Nov 23, 2021 12:17pm
Quoting trumps
Over the past 4 weeks or so, price has retested and bounced down from 38, 37, 36, 35 and now 34.
33 tomorrow...
  • #641,110
  • Nov 23, 2021 12:20pm Nov 23, 2021 12:20pm
Quoting Jolita
{quote} 33 tomorrow...
Going with you SHORT 1.3372 ni tp no sl
  • #641,111
  • Nov 23, 2021 12:28pm Nov 23, 2021 12:28pm
Attached Image (click to enlarge)
Click to Enlarge Name: TRO003.png Size: 50 KB

The Corrective price of 1.33520 has been reached. Thank you, Georginson. Cheers!
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #641,112
  • Nov 23, 2021 12:32pm Nov 23, 2021 12:32pm
[quote=TrickorTrade;13797882]

Excellent trade. Looks easy but I am sure took some time for this set up.
Thanks explaning to us.
  • #641,113
  • Nov 23, 2021 12:38pm Nov 23, 2021 12:38pm
Quoting Nordling00
{quote} Here's my track record, you can see all of my previous trades in history section: https://www.myfxbook.com/members/Nor...legacy/9138448
Good results.
What happened on Sept 09?
  • #641,114
  • Nov 23, 2021 12:44pm Nov 23, 2021 12:44pm
Quoting Waveskierrob
{quote} Going with you SHORT 1.3372 ni tp no sl
Closed SHORT 1.3367 +5 pipis
  • #641,115
  • Nov 23, 2021 12:47pm Nov 23, 2021 12:47pm
Quoting Jolita
{quote} Good results. What happened on Sept 09?
61%? who trades like that?
  • #641,116
  • Nov 23, 2021 12:47pm Nov 23, 2021 12:47pm
Quoting Waveskierrob
{quote} Closed SHORT 1.3367 +5 pipis
wow. i tought you are targeting for 1.3228
  • #641,117
  • Nov 23, 2021 12:51pm Nov 23, 2021 12:51pm
Quoting genadi
{quote} wow. i tought you are targeting for 1.3228
Not me I just go with the flow
  • #641,118
  • Nov 23, 2021 12:53pm Nov 23, 2021 12:53pm
Attached Image (click to enlarge)
Click to Enlarge Name: GBPUSDM1.png Size: 57 KB
Attached Image (click to enlarge)
Click to Enlarge Name: GU (1)111.png Size: 181 KB
  • #641,119
  • Nov 23, 2021 12:56pm Nov 23, 2021 12:56pm
Attached Image (click to enlarge)
Click to Enlarge Name: TOOSLOW4.png Size: 36 KB

Checking the ATR.
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #641,120
  • Nov 23, 2021 12:56pm Nov 23, 2021 12:56pm
Quoting 3xtazzy
Sorry if its out of topic, i wanted to ask if GBP pairs are correlated to each other? For example I went long on GU and short on GJ. Is it okay to do so?
yes, GBP pairs are correlated. if you bought GU and sold GJ, it is the same if you sold UJ two times.
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