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Cable Update (GBPUSD)

  • #643,741
  • Dec 8, 2021 3:16am Dec 8, 2021 3:16am
Quoting donfriday
{quote} he's the best the rest of us are just scammers...including me
I didn't say rest of you are scammers. So please don't make things up.

Consistently profitable traders are rare. But there's few in this forum from what i see. Georginson, Jolita, T721, Techanalyst, MrBullBear, Pat Chiko and I are one of those rare consistently profitable traders in this forum. I am sure there is more but i only know these people.

That doesn't make the rest scammers. The rest should work on improving their system more that's all.

Also i don't like my country, i think you wouldn't want to talk to a "b*stard" like me.
You have to have an IQ higher than 90 to interact with this user.
  • #643,742
  • Dec 8, 2021 3:17am Dec 8, 2021 3:17am
and another one, another one bites the dust;-)
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trading is like dancing, don't think and just listen to the music!
  • #643,743
  • Dec 8, 2021 3:20am Dec 8, 2021 3:20am
Quoting MrFanciful
After 4.5 years, I still suffer from FOMO, revenge trading and lack of patience. I get the occasional win but give it all back and more the next day. I've tried developing countless strategies, but I constantly keep failing. My depression is spiralling because all I can see is a life in old age having decide between heating and eating.
all new strategies must be tested before application. the correctness of the basic idea must be checked.
this is just advice.
  • #643,744
  • Dec 8, 2021 3:27am Dec 8, 2021 3:27am
Right now a PA is a bit messy on M5. Bias is short, waiting for some kind of failed rally.

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  • #643,745
  • Dec 8, 2021 3:30am Dec 8, 2021 3:30am
Quoting MrFanciful
After 4.5 years, I still suffer from FOMO, revenge trading and lack of patience. I get the occasional win but give it all back and more the next day. I've tried developing countless strategies, but I constantly keep failing. My depression is spiralling because all I can see is a life in old age having decide between heating and eating.
most of my losses (and believe me there are loads of them) are due to exactly those !
Insane in the Brain..
  • #643,746
  • Dec 8, 2021 3:35am Dec 8, 2021 3:35am
mostly people loss because not counter trend , but bad entry position , risking the capital with a huge lot position , that mostly does in these business
"Buy Cheap and Sell Expensive , Its Market Anyways where People Get profit"
  • #643,747
  • Dec 8, 2021 3:42am Dec 8, 2021 3:42am
this revenge trade must be forgotten because there is no need to cut back on the market immediately.
then tomorrow.or after.
be a hunter.
  • #643,748
  • Dec 8, 2021 3:43am Dec 8, 2021 3:43am
Quoting Nordling00
{quote} I didn't say rest of you are scammers. So please don't make things up. Consistently profitable traders are rare. But there's few in this forum from what i see. Georginson, Jolita, T721, Techanalyst, MrBullBear, Pat Chiko and I are one of those rare consistently profitable traders in this forum. I am sure there is more but i only know these people. That doesn't make the rest scammers. The rest should work on improving their system more that's all. Also i don't like my country, i think you wouldn't want to talk to a "b*stard" like me.
I am only making jokes buddy, I didn’t assume u called anyone scammer.
MY OPINION NOT FINANCIAL ADVISE
  • #643,749
  • Dec 8, 2021 3:43am Dec 8, 2021 3:43am
GBP/USD please show more volatile movement. Price getting squeezed so much that it's harder to trade.
  • #643,750
  • Dec 8, 2021 3:48am Dec 8, 2021 3:48am
SHORT and LONG 1.3240 no tp no sl
  • #643,751
  • Dec 8, 2021 3:48am Dec 8, 2021 3:48am
Quoting MrFanciful
After 4.5 years, I still suffer from FOMO, revenge trading and lack of patience. I get the occasional win but give it all back and more the next day. I've tried developing countless strategies, but I constantly keep failing. My depression is spiralling because all I can see is a life in old age having decide between heating and eating.
I suggest you to read trade in the zone by mark douglas or watch it for free in youtube. Never get back to trade until you completed his courses.
  • #643,752
  • Dec 8, 2021 3:51am Dec 8, 2021 3:51am
Quoting MrFanciful
After 4.5 years, I still suffer from FOMO, revenge trading and lack of patience. I get the occasional win but give it all back and more the next day. I've tried developing countless strategies, but I constantly keep failing. My depression is spiralling because all I can see is a life in old age having decide between heating and eating.
you are not alone.

Everyone goes through this.

I just got orthotics and the orthopaedic surgeon just said that at least patients put up with the pain for months until it gets better and put the orthotics aside again.

months? no problem for me. in the forex market you have to endure years of pain until it gets better. until you become a "break even trader".

which helped me after i lost a high 6 figure sum over the years:

1) focus only on one currency pair. for me it is GU. become an expert of cable.

2) everything, really everything that you have learned here or elsewhere as strategies, stored in good templates, put them on the screen. for example, i switch between 8-10 templates. on one is fibonacci analysis, on the other support and resistance. on the third bollinger band, on the fourth only moving averages, etc...

3) different time frames, for a scalper it is extremely important to know ALL TF. daily i look at all time frames from daily to m1. weekly the weekly&monthly.

4)breaks: concentration gets tired and that's why a break in between doing other things like getting oxygen, walking, sports, etc...is very, very important.

5)no expectations: at the beginning you have high expectations like 500$/day or more and you are already rich. but it doesn't work like that.

the right attitude is no expectations, let yourself be surprised and be constant in small things, every day. so that they combine over time into something big.

and that means starting with a $100 account and trading 0.01 lots. and then bring the account without any additional money to a "normal size", from which you can live reasonably.

and then, if you are constant, every day, every week, every month, then small miracles happen. but always stay humble with everything you earn.

trading is a high-performance sport and only something for masochists and marathon types.

you have to be willing to train away your innate herd instinct AND like to make lonely, independent decisions on your own.

people come and go and here in the cable thread, after one or two years, 90%-95% are other traders here again trying their luck.


happy life&long trading
trading is like dancing, don't think and just listen to the music!
  • #643,753
  • Dec 8, 2021 3:54am Dec 8, 2021 3:54am
Quoting MrFanciful
After 4.5 years, I still suffer from FOMO, revenge trading and lack of patience. I get the occasional win but give it all back and more the next day. I've tried developing countless strategies, but I constantly keep failing. My depression is spiralling because all I can see is a life in old age having decide between heating and eating.
trading must be as 1+1=2, you must have a certain situation (position) and an indicator which show you how it will be the short future, you must analyse the past to find the best situation, you must test all indicators to different values to choose the best matching to the perfect situation if you do not have a good situation and a positiv indicator, simply wait, they will come soon or later
  • #643,754
  • Dec 8, 2021 3:54am Dec 8, 2021 3:54am
Quoting MrFanciful
After 4.5 years, I still suffer from FOMO, revenge trading and lack of patience. I get the occasional win but give it all back and more the next day. I've tried developing countless strategies, but I constantly keep failing. My depression is spiralling because all I can see is a life in old age having decide between heating and eating.

This is so true. I am dumping all indicators and price action etc etc and will be trading only on the basis of candle counting from here onwards.

Does anyone know any good resources on candle counting and related stuff?
  • #643,755
  • Dec 8, 2021 4:14am Dec 8, 2021 4:14am
Quoting donfriday
{quote} I am only making jokes buddy, I didn’t assume u called anyone scammer.
Well you were not joking when you called me a "'b*stard" but hey, who cares
You have to have an IQ higher than 90 to interact with this user.
  • #643,756
  • Dec 8, 2021 4:17am Dec 8, 2021 4:17am
Expecting price to broke marked area
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  • #643,757
  • Dec 8, 2021 4:20am Dec 8, 2021 4:20am
Quoting maxi444
{quote} trading must be as 1+1=2, you must have a certain situation (position) and an indicator which show you how it will be the short future, you must analyse the past to find the best situation, you must test all indicators to different values to choose the best matching to the perfect situation if you do not have a good situation and a positiv indicator, simply wait, they will come soon or later
I think a way to potentially shorten the process is to start with a hypothesis, like a proper research in (science and any fields)

Start clean and observe the charts without any presumption, and see if you make any observations out of it. I find it is best way because that “instinct” observation usually suits your style and preference in trading: time of day, pattern, etc. On the other hand write down some of your strength and desire, such as duration of trades, trend trading or reversal. Put them all together and start developing a strategy around it, and/or look for ideas on internet or other sources.

Take me as an example. My key ideas are exhaustion, countertrend, all TF, signal (alert) based, simplest PA (coz my weakness) and statistics (my strength and skill). Then simply find or develop a strategy fitting the criteria that suits my lifestyle. So far so good from results posted on FF.

Just like college and other aspects of life, with requirements and goals in sight the development process can be much determined and smooth.

good luck
  • #643,758
  • Dec 8, 2021 4:21am Dec 8, 2021 4:21am
Pair is setting up for big bull move IMO. Provided 1.3200 is intact. Brace your self.
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Fools Rushing
  • #643,759
  • Dec 8, 2021 4:22am Dec 8, 2021 4:22am
Quoting Waveskierrob
SHORT and LONG 1.3240 no tp no sl
Close SHORT 1.3233 +7
  • #643,760
  • Dec 8, 2021 4:22am Dec 8, 2021 4:22am
F&^k sake
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