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Cable Update (GBPUSD)

  • #668,721
  • Jul 11, 2022 3:56pm Jul 11, 2022 3:56pm
Quoting martinez1
There is this famous quote that the MARKET CAN GO IRRATIONAL THAN YOU CAN REMAIN SOLVENT.
I know this, that's why I put 6000 to hold 0.49 lots and just wait for the price to recover. If not enough will put some more inside to hold the trades.
  • #668,722
  • Jul 11, 2022 3:57pm Jul 11, 2022 3:57pm
Quoting lengendff
{quote} Back to my 6000 account. It has withstand 600 pips from the 1st trade. I will just leave this account account alone and see when it will recover with profits.
For me and this is just my view, the way i see it i rather cut my losses small and go in on my next entry than to stay in a long lasting losing trades
that will prevent me from making more 2 or more times profit if i had close it and took the next entry.

There way times i was trading like this holding long lasting losing trades and just after a time i found out that it is not worth the time( this my view and only my view)
THE TRUTH IS SIMPLE,ACCEPTING THE SIMPLICITY OF THE TRUTH IS WHAT IS HARD
  • #668,723
  • Jul 11, 2022 3:57pm Jul 11, 2022 3:57pm
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Tall tails tell tales.
  • #668,724
  • Jul 11, 2022 4:02pm Jul 11, 2022 4:02pm
I guess I never seen this pattern in a DAILY chart.
It can be really dangerous and the outcome always is an explosion in price, meaning up or down according to what's moving market.

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In my view, demand will be more powerful near lower band of pattern. While supply will try to keep it down as much as possible coming in on every rally, just like last weeks.

BUT....

Is there at least 1 single reason at this moment, supporting the fact that GBP is a better buy than USD?
Maybe reasons will come in next few days.... otherwise I suspect this setup will explode to the downside
90% of traders use TA, indicators and prediction
  • #668,725
  • Jul 11, 2022 4:02pm Jul 11, 2022 4:02pm
Quoting martinez1
{quote} For me and this is just my view, the way i see it i rather cut my losses small and go in on my next entry than to stay in a long lasting losing trades that will prevent me from making more 2 or more times profit if i had close it and took the next entry. There way times i was trading like this holding long lasting losing trades and just after a time i found out that it is not worth the time( this my view and only my view)
For now is a bit annoying but nowhere stressful considering I have hold on to floating losses of 30000 or so. By the way I have other accounts running too.
  • #668,726
  • Jul 11, 2022 4:03pm Jul 11, 2022 4:03pm
Quoting pipsofacto
{quote} If I posted my trades, you would all be embarrassed on my behalf for the blunders on entry...
Whenever I post an entry/exit, I show the "reason" for entry with some description for other to take a note on it.

It's not just buy/sell numbers like trade signal, more to exchanging ideas with others what to look for in trades.

And how to salvage position if trades doesn't work in speedy manner, not letting bad trades to prolong our pain.

Included in my chart all the necessary statement, as you can see where my SL and TP is.
This help new trader to understand the whole process.

I don't care if anyone post a chart claimed he made 1,000,000 pips. That's not the profound element to be a good trader.
Besides that, I've post some Fundamental element for others to pick some basic element of it. ( Not heavy stuff).

I am happy to contribute and help others, but "WHY" the trolling is on me.? Which I'm truly don't understand what he's trying to achieve trolling me.

Honestly, most of the bad entry are due to FOMO or entering at PAZ ( Price Action Zone). If you can identify those , then minimum draw down with any entry is achievable.

Share your chart and thought process and we can go through together to refine your future entry.
I come from the future.
Karen X Mas Bonus 2025 All Time Profit: $15,104
  • #668,727
  • Jul 11, 2022 4:03pm Jul 11, 2022 4:03pm
Quoting T721
{quote} Very true and very possible. you just need to decide how much you wanna lose for the market to prove you wrong. if it does prove you wrong then get thee Hellout its a hard game but worth it in the end
To me i just feel i will be wasting my time and equity. For example today have made 130 pips from the up and down market imaging if i was holding onto
a losing position then i will miss that.

AM NOT AFRAID OF MY LOSSES I FACE THEM SQURE ON AND MOVE TO THE NEXT TRADE AFTER ALL WHEN I MINUS MY LOSSES FROM WININGS I WILL
STILL GET SOMETHING.
THE TRUTH IS SIMPLE,ACCEPTING THE SIMPLICITY OF THE TRUTH IS WHAT IS HARD
  • #668,728
  • Jul 11, 2022 4:08pm Jul 11, 2022 4:08pm
Quoting T721
{quote} Very true and very possible. you just need to decide how much you wanna lose for the market to prove you wrong. if it does prove you wrong then get thee Hellout its a hard game but worth it in the end
To me i just feel i will be wasting my time and equity. For example today have made 130 pips from the up and down market imagining if i was holding onto
a losing position then i will miss that.

AM NOT AFRAID OF MY LOSSES I FACE THEM SQURE ON AND MOVE TO THE NEXT TRADE AFTER ALL WHEN I MINUS MY LOSSES FROM WININGS I WILL
STILL GET SOMETHING.
THE TRUTH IS SIMPLE,ACCEPTING THE SIMPLICITY OF THE TRUTH IS WHAT IS HARD
  • #668,729
  • Jul 11, 2022 4:10pm Jul 11, 2022 4:10pm
Quoting martinez1
{quote} To me i just feel i will be wasting my time and equity. For example today have made 130 pips from the up and down market imaging if i was holding onto a losing position then i will miss that. AM NOT AFRAID OF MY LOSSES I FACE THEM SQURE ON AND MOVE TO THE NEXT TRADE AFTER ALL WHEN I MINUS MY LOSSES FROM WININGS I WILL STILL GET SOMETHING.
Actually when you close your trades with losses, you are in a way afraid of them.

What I am doing(keep holding the losig trades), in fact is the way you are describing.
  • #668,730
  • Jul 11, 2022 4:15pm Jul 11, 2022 4:15pm
Quoting lengendff
{quote} Actually when you close your trades with losses, you are in a way afraid of them. What I am doing(keep holding the losig trades), in fact is the way you are describing.
As long as we both make money, that's why we are here, cheers bro
THE TRUTH IS SIMPLE,ACCEPTING THE SIMPLICITY OF THE TRUTH IS WHAT IS HARD
  • #668,731
  • Jul 11, 2022 4:15pm Jul 11, 2022 4:15pm
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  • #668,732
  • Jul 11, 2022 4:16pm Jul 11, 2022 4:16pm
Attached File(s)
File Type: pdf Waiting for a Retest Will Make You a Better Forex Trader (2).pdf   238 KB | 250 downloads
Attached File(s)
File Type: pdf Order block & Fibonacci.pdf   1.2 MB | 505 downloads
  • #668,733
  • Jul 11, 2022 4:18pm Jul 11, 2022 4:18pm
btw
if this was a 5min chart, would you buy this actual rate?

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I wouldn't!!
More likeyl I would wait for it to close back up above previous lows invalidating this move.
Friendly called "false breakout".

Definetly, the very 1st step to look for higher rates, is to conquer above 1.2050.
This time, I will not join the bull side until I have sound fundamentals and tech reasons for that.

EDIT: if market keeps buying USD, this thing could print 1.10 or even lower (meaning in medium term) until one day market will be tired to buy USD and simply switch to SELL it back.
90% of traders use TA, indicators and prediction
  • #668,734
  • Jul 11, 2022 4:18pm Jul 11, 2022 4:18pm
Quoting martinez1
{quote} As long as we both make money, that's why we are here, cheers bro
Yup. I am the lazy type trading forex. I paid people to program mt4 martingale ea for me. I don't like off the shelf ones as I want to control every input parameters. After that, just put money into the account and attach the ea and wait to collect profits.
  • #668,735
  • Jul 11, 2022 4:26pm Jul 11, 2022 4:26pm
Quoting _BBKing_
btw if this was a 5min chart, would you buy this actual rate? {image} I wouldn't!! More likeyl I would wait for it to close back up above previous lows invalidating this move. Friendly called "false breakout". Definetly, the very 1st step to look for higher rates, is to conquer above 1.2050. This time, I will not join the bull side until I have sound fundamentals and tech reasons for that.
That's the weekly view I am talking about. Maybe gbpusd just need 1 push to the up side and up it goes!
  • #668,736
  • Jul 11, 2022 4:28pm Jul 11, 2022 4:28pm

You still have a long way to go, until finally the market will make you realize that risk management is the winner!


--- goodbye all good people ---

https://breakpullback.com
  • #668,737
  • Jul 11, 2022 4:29pm Jul 11, 2022 4:29pm
Quoting Pat Chiko
{quote} The clown always post late after price has gone 50 pips in his favour. He dare not to show live trade coz several occasion he made a blunder on his poor entry...
Pat you may just have put the final nail in the coffin for me here at FF. Guess what I do not have time for this. I think it is time for me to take a back seat and enjoy my retirement. Have fun young lad, I have better things to do.
Cheers.
Trade to trade another day
  • #668,738
  • Jul 11, 2022 4:36pm Jul 11, 2022 4:36pm
Quoting eyefeelsix
You still have a long way to go, until finally the market will make you realize that risk management is the winner! --- goodbye all good people ---
Maybe the reason why so many people lost money in forex is that they tried too hard on risk management. Come to think of it, how can an individual manage risks better than the institutions that they are trading with.

To beat them in their game is what I am doing. No stop loss for them to hunt. An adequate account size and just hold it till the market retraces.
  • #668,739
  • Jul 11, 2022 4:37pm Jul 11, 2022 4:37pm
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  • #668,740
  • Jul 11, 2022 4:37pm Jul 11, 2022 4:37pm
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