Attachments: Cable Update (GBPUSD)

Cable Update (GBPUSD)

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#662,901
Jun 10, 2022 5:19am Jun 10, 2022 5:19am

Whale
Joined Jun 2013 | Status: Trader | 14,544 Posts

Quoting navk

Disliked

{quote} Expected rate rise.

Ignored

No.. they said it will be only on July.
they didnt finish to calc what they should calc
i do not trade fundamentals, just heard it on poscast.

#662,902
Jun 10, 2022 5:20am Jun 10, 2022 5:20am

Houtbay
Joined Nov 2020 | Status: Trader | 4,573 Posts

Gbpusd short tp 1.24300

#662,903
Jun 10, 2022 5:24am Jun 10, 2022 5:24am

Pat Chiko
| Joined Dec 2008 | Status: MMA Pro Wrestler | 17,549 Posts

Managing Trades and Stops

Finding some consistency with our trading, is just trying to tweak the money management to milk the trades as much as possible.

A Traders can be successful trading for 30,40 pips a pop intraday...... but trying to add a bit of swing trading to current daytrading routine.

Example..
I open 2 lots at market.
Stop 30 pips below(or 50,60,whatever).
I close 1 lot at 30pips profit, move stop on the other lot to breakeven, and shoot for the stars.

Sounds beautiful on paper.

But what happens if price takes out my break-even stop more often than running higher...

..... i'd effectively be taking an average profit of 30pips at 1 lot, while taking an average loss of 30pips at 2 lots.

I realize the numbers will vary.. but its conceivable that this would lead to greater losses than gains.

Yet many people much more successful than I am manage to "cut the losers short and let the winners run" successfully.

How would I do this properly?

Thanks for helping me to understand this.

PAT Chiko

I come from the future.

Karen X Mas Bonus 2025 All Time Profit: $15,104

#662,904
Jun 10, 2022 5:24am Jun 10, 2022 5:24am

martinez1
Joined Aug 2011 | Status: Trader | 897 Posts

Quoting Mitiblotch

Disliked

Hold your ears and say after me: today I will not buy GU. Today it will sell all day. Keep singing it!

Ignored

Lol, i love this kind of song and would love to sing it but unfortunately i was done for the week. Cheers

THE TRUTH IS SIMPLE,ACCEPTING THE SIMPLICITY OF THE TRUTH IS WHAT IS HARD

#662,905
Jun 10, 2022 5:25am Jun 10, 2022 5:25am

hoda
Joined Feb 2012 | Status: Devour of Dream | 1,020 Posts

Quoting hoda

Disliked

My View...... I am Waiting for those Levels for Buy Entry. {image}

Ignored

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Intraday Trading is an Art _ hoda

#662,906
Jun 10, 2022 5:27am Jun 10, 2022 5:27am

Ayax.TSS
Joined Apr 2019 | Status: Trader | 3,132 Posts

#GBPUSD / H1

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#662,907
Jun 10, 2022 5:28am Jun 10, 2022 5:28am

Whale
Joined Jun 2013 | Status: Trader | 14,544 Posts

Quoting hoda

Disliked

{quote} {image}

Ignored

Same view hoda.

#662,908
Jun 10, 2022 5:30am Jun 10, 2022 5:30am

Pat Chiko
| Joined Dec 2008 | Status: MMA Pro Wrestler | 17,549 Posts

Quoting KendrickWavy

Disliked

{quote} No problem,I perfectly understand and I appreciate your response. Thanks alot.

Ignored

Way to go.

Looking forward for your participation here.

We are learning.

Most of traders I follow here are top notch, (I'm not in top 100s)

I come from the future.

Karen X Mas Bonus 2025 All Time Profit: $15,104

#662,909
Jun 10, 2022 5:32am Jun 10, 2022 5:32am

ScalaFX
Joined May 2021 | Status: Trader | 7,225 Posts

Quoting Pat Chiko

Disliked

{quote} Way to go. Looking forward for your participation here. We are learning. Most of traders I follow here are top notch, (I'm not in top 100s)

Ignored

Pat Chiko first humble

People don't plan to lose. They lose because they don't plan.

#662,910
Jun 10, 2022 5:34am Jun 10, 2022 5:34am

Pat Chiko
| Joined Dec 2008 | Status: MMA Pro Wrestler | 17,549 Posts

Quoting ScalaFX

Disliked

{quote} Pat Chiko first humble

Ignored

I'm speaking the truth.

No lying here, be a good boy ...ok ?

I come from the future.

Karen X Mas Bonus 2025 All Time Profit: $15,104

#662,911
Jun 10, 2022 5:35am Jun 10, 2022 5:35am

Headland
Joined Apr 2020 | Status: Trader | 8,806 Posts

Quoting Pat Chiko

Disliked

Managing Trades and Stops Finding some consistency with our trading, is just trying to tweak the money management to milk the trades as much as possible. A Traders can be successful trading for 30,40 pips a pop intraday...... but trying to add a bit of swing trading to current daytrading routine. Example.. I open 2 lots at market. Stop 30 pips below(or 50,60,whatever). I close 1 lot at 30pips profit, move stop on the other lot to breakeven, and shoot for the stars. Sounds beautiful on paper. But what happens if price takes out my break-even stop...

Ignored

Pat, it should be tailored to the win rate of trades you are achieving over any given past sample (s) size of trades. Ie if you are achieving say a 75% win rate of total trades then you could afford to aim for just 1:1 R:R for eg, if your win rate is 50: though then 1:1 is no good, you'd need > than that, say typically 2:1 R:R. As for the trade management and particularly when scaling out (or indeed in) - that adds another layer of complexity to finding the optimum trade management for your particular edge. On that point I can't advise as I am an 'all in - all out' type of trader - scalp +, who let's them run for bigger scores if successively higher t/f candles than the one used for entry close supportive of the trade (ie if in on 1min long, want to see 3min then 5min, then 10min, then 15min etc close bullishly/and price overcome the first pre-identified ppa (potential problem area,) with a fairly quick move of stop to b/e. It does seem to make sense, if you are scaling out, to move stop to b/e on the remaining part left in the market, when you take the first bit out, so as to avoid the scenario you detail above. G/L in your quest for this optimum way though, relative to your own edge.

Trader with an Edge.