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Cable Update (GBPUSD)

  • #668,781
  • Jul 11, 2022 10:31pm Jul 11, 2022 10:31pm
Quoting PatienceFx
{quote} this one ?
Yes
Intraday only.
  • #668,782
  • Jul 11, 2022 10:35pm Jul 11, 2022 10:35pm
Quoting navk
{quote} Yes
weekly pivot
Attached Image (click to enlarge)
Click to Enlarge Name: GBPUSDH1.png Size: 17 KB
  • #668,783
  • Jul 11, 2022 10:37pm Jul 11, 2022 10:37pm
Quoting hayseed
{quote} //----- how sure are you of that.....h
Of course there is, there are over 10000 different indicators. Take the time, test them and add them together and you might actually hit Gold, who knows.
  • #668,784
  • Jul 11, 2022 10:39pm Jul 11, 2022 10:39pm
If you can manage to even find indicators for which success rate is 6/10, with proper money management, you will be a winning trader.
  • #668,785
  • Jul 11, 2022 10:43pm Jul 11, 2022 10:43pm
Well.. I’ve had my first margin call this morning.. I’ve just sat down and worked out it will close me out of my most recent position should we visit 1.17750 .. I’ll get a bit of equity back from that but probably only enough to keep the rest open to round about 1.17500.. then think it will close me out of everything

if you’d have asked me a week ago, I thought 1.19 was about the bottom and that I had left enough in to ride it out.. so frustrated !! Dam $!!

just hopeful it stays above it

good luck everyone
  • #668,786
  • Jul 11, 2022 10:45pm Jul 11, 2022 10:45pm
Quoting Jolita
{quote} Last week weekly candle - indecision, in my view, bears are getting slow, this weeks candle should close green or bullish. We still have a bit of space lower 11858 - 11800 (Oct 2016 low).
It is summer in my country though. That means the Bears are definitely not sleeping Winter's dream.
  • #668,787
  • Jul 11, 2022 10:50pm Jul 11, 2022 10:50pm
Inserted Video
  • #668,788
  • Jul 11, 2022 10:50pm Jul 11, 2022 10:50pm
Quoting _BBKing_
{quote} There is no profitable indicator nor EA. The best thing you can do with indicators and EAs is to use them just to have something to blame instread of just blame on yourself when you get a wrong trade. Well, if an indicator tells the truth you can still blame the market going in the wrong direction LOL Martingale EAs have an additional certainty: they will blow the whole account. Maybe not our friend here with many setups but everytime I tested a martingale EA in the past the outcomw was the same: account to 0.
https://m.youtube.com/c/NoNonsenseForex

Check out this channel! It helped many many traders, including myself. THE best source of REAL information about FX.
  • #668,789
  • Jul 11, 2022 10:51pm Jul 11, 2022 10:51pm

  1. Indicators work AFTER the price has moved
  2. Price works AFTER an economic or economy affecting political news is released

so

  1. should you trade using THIRD PERSON indicators
  2. or FIRST PERSON news

choice is yours

  • #668,790
  • Jul 11, 2022 10:51pm Jul 11, 2022 10:51pm
Quoting Adzmoz
Well.. I’ve had my first margin call this morning.. I’ve just sat down and worked out it will close me out of my most recent position should we visit 1.17750 .. I’ll get a bit of equity back from that but probably only enough to keep the rest open to round about 1.17500.. then think it will close me out of everything if you’d have asked me a week ago, I thought 1.19 was about the bottom and that I had left enough in to ride it out.. so frustrated !! Dam $!! just hopeful it stays above it ...
Hope is the account killer
  • #668,791
  • Jul 11, 2022 10:55pm Jul 11, 2022 10:55pm
Quoting PatienceFx
Indicators work AFTER the price has moved Price works AFTER an economic or economy affecting political news is released so should you trade using THIRD PERSON indicators or FIRST PERSON news choice is yours
like today the news line up for THIS pair is slim, so just pick up any other pair where the news line up is stronger like

 

  1. SECOND largest economy vs FIRST largest economy EURUSD

Attached Image (click to enlarge)
Click to Enlarge Name: GBPUSDH1.png Size: 23 KB
  • #668,792
  • Jul 11, 2022 10:55pm Jul 11, 2022 10:55pm
Quoting TheWolf
{quote} Of course there is, there are over 10000 different indicators. Take the time, test them and add them together and you might actually hit Gold, who knows.
//-----


very few manual traders can place 70+ trades a day with 90+% win rate.... of course, very few ea's can either....

but all you need is one..... that can make minimum wage.....h
to trade and code, keep both simple... no call to impress....h
  • #668,793
  • Jul 11, 2022 10:57pm Jul 11, 2022 10:57pm
Quoting Adzmoz
Well.. I’ve had my first margin call this morning.. I’ve just sat down and worked out it will close me out of my most recent position should we visit 1.17750 .. I’ll get a bit of equity back from that but probably only enough to keep the rest open to round about 1.17500.. then think it will close me out of everything if you’d have asked me a week ago, I thought 1.19 was about the bottom and that I had left enough in to ride it out.. so frustrated !! Dam $!! just hopeful it stays above it ...
hedging can be an option if you think it will drop against you
POSTMASTER
  • #668,794
  • Jul 11, 2022 10:58pm Jul 11, 2022 10:58pm
Quoting yawen
{quote} Hope is the account killer

  1. he hoped for a good wife
  2. then she started beating

Inserted Video
  • #668,795
  • Jul 11, 2022 11:02pm Jul 11, 2022 11:02pm
Quoting Adzmoz
Well.. I’ve had my first margin call this morning.. I’ve just sat down and worked out it will close me out of my most recent position should we visit 1.17750 .. I’ll get a bit of equity back from that but probably only enough to keep the rest open to round about 1.17500.. then think it will close me out of everything if you’d have asked me a week ago, I thought 1.19 was about the bottom and that I had left enough in to ride it out.. so frustrated !! Dam $!! just hopeful it stays above it ...
This is why I never try to predict where the market is going, as soon as you predict you are bias and that's dangerous and us humans hate being wrong, hope the price does go in your direction, blowing a bank is gut wrenching done it myself many times, its 50/50 in my eyes
  • #668,796
  • Jul 11, 2022 11:09pm Jul 11, 2022 11:09pm
Quoting Robinhood1
{quote} hedging can be an option if you think it will drop against you
Thanks - had originally hedged and then when we visited 1.19 I closed my shorts thinking it had touched the bottom.. since then it’s continued to fall and eaten up all my equity - not got any funds available to put in (poor money management I know)..

I was stuck in some long positions before joining this group - learnt a lot but it’s no use getting me out of this hole!!
  • #668,797
  • Jul 11, 2022 11:16pm Jul 11, 2022 11:16pm
Quoting Adzmoz
{quote} Thanks - had originally hedged and then when we visited 1.19 I closed my shorts thinking it had touched the bottom.. since then it’s continued to fall and eaten up all my equity - not got any funds available to put in (poor money management I know).. I was stuck in some long positions before joining this group - learnt a lot but it’s no use getting me out of this hole!!
Back to the drawing board. Your honesty on the matter is refreshing. Don't give up!
Emotional Control. Process, not outcome.
  • #668,798
  • Jul 11, 2022 11:20pm Jul 11, 2022 11:20pm
A bit of liquidity sitting above 1.19100
Might be drained before a further push down today.

Thoughts?
  • #668,799
  • Jul 11, 2022 11:23pm Jul 11, 2022 11:23pm
Quoting Wavegarrick
{quote} 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.
Wave your charts are excellent . Certain subtlety . They helped me thank you for posting them .
  • #668,800
  • Jul 11, 2022 11:26pm Jul 11, 2022 11:26pm
Quoting Adzmoz
{quote} Thanks - had originally hedged and then when we visited 1.19 I closed my shorts thinking it had touched the bottom.. since then it’s continued to fall and eaten up all my equity - not got any funds available to put in (poor money management I know).. I was stuck in some long positions before joining this group - learnt a lot but it’s no use getting me out of this hole!!
I look at the possibility that it may hit 1.1920 and that will be the high on its way around 1.1750 and then a pullback from there, good luck
POSTMASTER
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