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Cable Update (GBPUSD)

  • #650,641
  • Feb 2, 2022 10:24am Feb 2, 2022 10:24am
Quoting DrDave
{quote} In a scale of 10 how many profitable trades you had using your observations? 9+ Here is a year of trading. My floating DD never exceeds 5%, because that is my loss cuttoff. Typically, it doesn't exceed 1%. Annual profit was about 40%. As you can see from the plot, I go for small, consistent wins. {image}
Wow, very well achieved. This is the way to go. Will look forward for your posts, good stuff.
  • #650,642
  • Feb 2, 2022 10:25am Feb 2, 2022 10:25am
Quoting DrDave
{quote} I can assure you that not everyone was selling GBPUSD today ... I never use SMA50 and do fine without it.
oh no i slept[t 6 hours after taking this trade
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do not follow me 99.9999999% of times, rest you can lol
  • #650,643
  • Feb 2, 2022 10:28am Feb 2, 2022 10:28am
Anyways got knocked out of my sell at breakeven

Retested Asia range then huge bull wave which I was unprepared for (came to the charts without a plan which is never a good idea)

Anyways feeling frustrated I decided to short the Dow (with low position size). I have dreams of 35000 and it starts off good, i'm like 6xR up at one point

NYSE opens and creams my breakeven stop

Zero day. Hope everyone here had better luck
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  • #650,644
  • Feb 2, 2022 10:30am Feb 2, 2022 10:30am
Next area to sell 3604/09 ?

To buy i'd need at least 3545/47
COT: The precious data ignored
  • #650,645
  • Feb 2, 2022 10:34am Feb 2, 2022 10:34am
Quoting Techanalyst
{quote} What happened on GBPUSD 5min? Did it work, did you close it manually?????? {image}
Hey Tech good te see you

Yep closed it manually with some pips loss.

Still working on this method, playing around in the live setting.

Its a strong zone, it almost seems like a triple bottom now.
Im gonna wait and see what happens before trying a third time lol

edit:
there is some H1 & M30 R now so not sure what will happen
in wondering about yourself, you forgot what you came here to be part of
  • #650,646
  • Feb 2, 2022 10:42am Feb 2, 2022 10:42am
Quoting mysterio
Anyways got knocked out of my sell at breakeven Retested Asia range then huge bull wave which I was unprepared for (came to the charts without a plan which is never a good idea) Anyways feeling frustrated I decided to short the Dow (with low position size). I have dreams of 35000 and it starts off good, i'm like 6xR up at one point NYSE opens and creams my breakeven stop Zero day. Hope everyone here had better luck {image} {image}
I didn't trade GU today. But with EU zapping up I knew it would zap this up too. Well, tomorrow I expect blood on the charts but money in my account. I still have 1285 short on EURUSD under water. Closed the 1314 and 1300 shorts in profit. Will wait to hit 1.1250 or near it to get out of the 1285 short with profit. Good day but not enough profit to assuage my anger. Lol...
  • #650,647
  • Feb 2, 2022 10:46am Feb 2, 2022 10:46am
bit off topic but wow:
Zucker just resigned from cnn
in wondering about yourself, you forgot what you came here to be part of
  • #650,648
  • Feb 2, 2022 10:58am Feb 2, 2022 10:58am
Quoting Wavegarrick
{quote} Hi Guys, Important levels are currently being broken. My Yearly Midpoint at 1.3500. George's decider level is at 1.3528. My yearly open at 1.35352. My monthly pivot at 1.35172. We need a weekly close above 1.35658 which is last week's candle open which could give some momentum to bulls. I am in with a buy trade just above 1.3500. My system is giving me bullish confirmation signals and I will add buy trades on pullbacks. It is still iffy at the moment and a strong close below 1.3500 today will negate my bullish bias. London open should...
Hi Folks,
We are in a flip zone where things could go either way. This upmove has been strong and without much pause, which calls for a correction?. From a 4hr perspective I am getting rejection signs and have entered a short scalp trade with a 25 pip stop loss. It is important for price to get back down below my mid-round number at 1.35500 today. Thursdays are generally retracing, correction or reversal days for me, and not forgetting NFP this week. A retrace towards my monthly pivot at 1.35172 would be enough to draw my attention towards a possible buy trade set up in line with my system. Below 1.3500 and more so a weekly close below I will re asses my situation.
Trade safe,
Cheers.
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Trade to trade another day
  • #650,649
  • Edited 11:20am Feb 2, 2022 11:05am | Edited 11:20am
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On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #650,650
  • Feb 2, 2022 11:24am Feb 2, 2022 11:24am
Hi all...
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  • #650,651
  • Feb 2, 2022 11:24am Feb 2, 2022 11:24am
Quoting Parabolic1
{quote} Very impressive! The only thing I don't understand is how your total profit is 40% for one year of trading. To make a living with that low of a profit margin you'd need a massive account size far bigger than the average retail trader.
Did I say somewhere that I trade for a living???

In any case, if I wanted to trade at a more serious level, I would increase the lot size progressively and never make any withdrawals until the account reached a certain size. If you look carefully at the plot, you can see a step shortly after trade#150 and another after about trade#225. Those are where a step up in lot size was made as certain levels of profit were made. In addition, I would change from a default of a small fixed TP to letting many of the trades run with a trailing stop.
To free Gazans of Hamas, use whatever it takes.
  • #650,652
  • Feb 2, 2022 11:30am Feb 2, 2022 11:30am
Quoting Parabolic1
{quote} Very impressive! The only thing I don't understand is how your total profit is 40% for one year of trading. To make a living with that low of a profit margin you'd need a massive account size far bigger than the average retail trader.
Remember, the "average retail trader" does not make a living as a trader; he blows his account within 2 years (a very high percentage within 6 months) and gives up.

I don't have any statistics to back up a claim, but I suspect that the "average retail trader" has little more than $1,000 of discretionary money that he can put into an account anyway. So even with a 100% annual return and no withdrawals, how long would it take for him to be able to "trade for a living"?
To free Gazans of Hamas, use whatever it takes.
  • #650,653
  • Feb 2, 2022 11:31am Feb 2, 2022 11:31am
Quoting Kwt4x
{quote} very true, when using time timeframe does not matter, and time does not overlap unless changing direction and starts with price interacting with smallest time first and force it to overlap next larger time, smallest time is a leading role while biggest time guide/direction role. M1 TF, 4H range with 1H 2H 4H MA's {image} cheers,
smallest time is a leading role while biggest time guide/direction role
To free Gazans of Hamas, use whatever it takes.
  • #650,654
  • Feb 2, 2022 11:33am Feb 2, 2022 11:33am
Quoting Jolita
{quote} I like your graphs. Look at this 1m chart is a clear sell and compared with 4h chart (evening star) and if the current candle goes over 50% lower then the previous bulish engulfing candle, then we have a strong 4 h sell signal. {image}{image}
Well, M1 is a bit far from H4 to connect that way, but you have the right idea.
To free Gazans of Hamas, use whatever it takes.
  • #650,655
  • Feb 2, 2022 11:36am Feb 2, 2022 11:36am
Quoting knkie
bit off topic but wow: Zucker just resigned from cnn
Zucker just resigned from cnn

Sound the alert!! Dive! Dive! All dive!! The markets will tank for sure!!
To free Gazans of Hamas, use whatever it takes.
  • #650,656
  • Feb 2, 2022 11:43am Feb 2, 2022 11:43am
For those that pay attention to smaller TFs such as M15/M30, did you notice how M15 was building a POTENTIAL sell continuation? Did you take it? I did not: By the time I had an M15 sell condition confirmed, the M30 turned up. How likely is it that a sell on M15 is going to go very far if M30 is heading the opposite direction?

And if this up swing can go high enough to turn up H1, then this little progression of of downtrends is in danger of being wiped out and we return to the up trend.
To free Gazans of Hamas, use whatever it takes.
  • #650,657
  • Feb 2, 2022 11:53am Feb 2, 2022 11:53am
Quoting DrDave
{quote} Zucker just resigned from cnn Sound the alert!! Dive! Dive! All dive!! The markets will tank for sure!!
haha
well time warner should take a hit
or not
maybe they wanted him gone
in wondering about yourself, you forgot what you came here to be part of
  • #650,658
  • Feb 2, 2022 12:02pm Feb 2, 2022 12:02pm
Quoting knkie
{quote} haha well time warner should take a hit or not maybe they wanted him gone
Ongoing work affair, naughty naughty, one had to resign.
His ex wife was pretty.
  • #650,659
  • Feb 2, 2022 12:08pm Feb 2, 2022 12:08pm
Sell from here....
Never Ever Give Up!
  • #650,660
  • Feb 2, 2022 12:10pm Feb 2, 2022 12:10pm
Perfect ABC.....
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