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Cable Update (GBPUSD)

  • #669,961
  • Jul 16, 2022 5:34am Jul 16, 2022 5:34am
Quoting Pat Chiko
{quote} Say no more............{image}
I can see the police finally started to do their job. Someone must have tipped the police, God know's who (hihi).. TRADERS, WE ARE FINALLY FREEEE!
  • #669,962
  • Jul 16, 2022 5:37am Jul 16, 2022 5:37am
Heatwave in Europe with deadly fires spreading in Portugal, Spain - Mijas, Torremolinos and France South West Atlantic coast, my beloved holiday place
Sad beutiful forests are burning.
We will also have close to +40C. Stay safe.

Thinking about GU, when price sinks we all believe reversal is round the corner and start buying early. We should also not cancel a posibility of dipping lower, bear trend caused by sharp spike visible on Monthly chart and 2nd repeated -400pips on the second drop, so we have no guarantee price will not continue lower to 1100.
Lately we have new tendency beating top / bottom records.
Please trade safe and use SL wisely.
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Have a lovely weekend!
  • #669,963
  • Jul 16, 2022 5:58am Jul 16, 2022 5:58am
DXY NOW :
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  • #669,964
  • Jul 16, 2022 6:10am Jul 16, 2022 6:10am
Quoting Jolita
Heatwave in Europe with deadly fires spreading in Portugal, Spain - Mijas, Torremolinos and France South West Atlantic coast, my beloved holiday place Sad beutiful forests are burning. We will also have close to +40C. Stay safe. Thinking about GU, when price sinks we all believe reversal is round the corner and start buying early. We should also not cancel a posibility of dipping lower, bear trend caused by sharp spike visible on Monthly chart and 2nd repeated -400pips on the second drop, so we have no guarantee price will not continue lower...
True. I also took a peek at Client Sentiment numbers. More than 75% of the traders are still long GBP/USD, EUR/USD and 75% short on USD/JPY. With these facts contributing we are still in a down-trend suggest's banks will continue to short Pound and Euro. Might not be important, but might as well just mention it.
  • #669,965
  • Jul 16, 2022 6:11am Jul 16, 2022 6:11am
Quoting Jolita
Heatwave in Europe with deadly fires spreading in Portugal, Spain - Mijas, Torremolinos and France South West Atlantic coast, my beloved holiday place Sad beutiful forests are burning. We will also have close to +40C. Stay safe.

Climate change.
We knew so much about it and did so little to stop it.
We didn't deserve this beautiful planet...........

NASA Image
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I come from the future.
Karen X Mas Bonus 2025 All Time Profit: $15,104
  • #669,966
  • Jul 16, 2022 7:05am Jul 16, 2022 7:05am
Quoting Lool
I had a question, What made gbpusd go bullish today? Thank you
Bullish due to risk on bias . Traditionally Fridays can produce optimism . Expect the unexpected .
  • #669,967
  • Jul 16, 2022 7:40am Jul 16, 2022 7:40am
In Cape Town South Africa this has been a fairly cold winter compared to past years
  • #669,968
  • Jul 16, 2022 8:59am Jul 16, 2022 8:59am
https://www.armstrongeconomics.com/u...ol-of-control/
POSTMASTER
  • #669,969
  • Jul 16, 2022 9:31am Jul 16, 2022 9:31am
Quoting Robinhood1
https://www.armstrongeconomics.com/u...ol-of-control/
Man...that woman is GOLD and is right. "You don't stand for fuc*ing anything!"
  • #669,970
  • Jul 16, 2022 9:34am Jul 16, 2022 9:34am
Inserted Video
POSTMASTER
  • #669,971
  • Jul 16, 2022 9:34am Jul 16, 2022 9:34am
Quoting TheWolf
{quote} Man...that woman is GOLD and is right. "You don't stand for fuc*ing anything!"
do you "understand". I don´t stand under. Its been designed long time back and still is, but we are waking up. 2032 is the year
POSTMASTER
  • #669,972
  • Jul 16, 2022 9:37am Jul 16, 2022 9:37am
Quoting Waveskierrob
{quote} Wave and Pat
Hahahah oh man...
Inserted Video
(My reaction)
  • #669,973
  • Jul 16, 2022 9:48am Jul 16, 2022 9:48am
Prop Trading sounds great...
(until you learn the details.)
You've heard about prop trading firms that let you "trade with their capital?" The concept sounds attractive. Except, it's not real. The business model of prop firms is to attract starry-eyed newbies to pay "entry fees." Most people don't succeed, so they pay the fees again... and again. Okay, a few people do succeed, which is great. Great for the prop firms, that is, because they need a few smiling "faces" to use in their advertisements. (The ads don't tell you the percent of people that fail the entry process, and who pay multiple fees to try again.)


Trade with "their capital"
What about those lucky few who do win a chance to "use" a prop firm's capital? In reality, all winners share a single small pool of capital. Wait a second, how is it possible that multiple winners "share" a small account? Simple. The prop firms impose ridiculous restrictions on how winners can trade. Only a small amount of margin can be deployed at any one time. Only a small drawdown is allowed. Only a small loss can be sustained. So while firms claim you "get an account" with $25,000... $50,000... $100,0000 in it - in reality you have access to much less than that. Sure, the Prop Firm's software shows you $25,000 on your screen. But you can only trade as if you have $2,000.
  • #669,974
  • Jul 16, 2022 10:16am Jul 16, 2022 10:16am
Quoting PatienceFx
Prop Trading sounds great... (until you learn the details.) You've heard about prop trading firms that let you "trade with their capital?" The concept sounds attractive. Except, it's not real. The business model of prop firms is to attract starry-eyed newbies to pay "entry fees." Most people don't succeed, so they pay the fees again... and again. Okay, a few people do succeed, which is great. Great for the prop firms, that is, because they need a few smiling "faces" to use in their advertisements. (The ads don't tell you the percent of people that...
Traders trade on a virtual account that is connected to the prop firm master account. It might not be small. If it's legit then it would run into multiples of a million.
Risk Management is of utmost importance!
  • #669,975
  • Jul 16, 2022 10:58am Jul 16, 2022 10:58am
I am flat in weekend.
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MA provides the market's current direction and strength.
  • #669,976
  • Jul 16, 2022 12:06pm Jul 16, 2022 12:06pm
Quoting PatienceFx
Prop Trading sounds great... (until you learn the details.) You've heard about prop trading firms that let you "trade with their capital?" The concept sounds attractive. Except, it's not real. The business model of prop firms is to attract starry-eyed newbies to pay "entry fees." Most people don't succeed, so they pay the fees again... and again. Okay, a few people do succeed, which is great. Great for the prop firms, that is, because they need a few smiling "faces" to use in their advertisements. (The ads don't tell you the percent of people that...
You will have access to big capital without risking your own money.

Say, 100k, 200k, 400k, 1 m USD and all.

The big difference is, even if you have 200k personal capital, you will not invest in Forex market.

This is 1 st difference.

2 nd :

You will become very disciplined trader because, the prop firms allows max daily loss of 5 % and total loss of 10 %.

In personal capital, with 10k people allow more floating loss than this and ruin their account.

3 rd :

If you are disciplined, and have proper working system ( to suit risk management specified ), you can comparatively make more.
money.

If you loose, you loose just 500 bucks, that is fee paid for test.

And if you are successful for 1 month as funded trader, youe fee is paid back.

So what not ?
Intraday only.
  • #669,977
  • Jul 16, 2022 12:08pm Jul 16, 2022 12:08pm
Quoting PatienceFx
Prop Trading sounds great... (until you learn the details.) You've heard about prop trading firms that let you "trade with their capital?" The concept sounds attractive. Except, it's not real. The business model of prop firms is to attract starry-eyed newbies to pay "entry fees." Most people don't succeed, so they pay the fees again... and again. Okay, a few people do succeed, which is great. Great for the prop firms, that is, because they need a few smiling "faces" to use in their advertisements. (The ads don't tell you the percent of people that...
Prop firm trading is the best thing that can happen to most undisciplined and undercapitalized traders.
Data + Stat + Risk/Emotions Management
  • #669,978
  • Jul 16, 2022 12:15pm Jul 16, 2022 12:15pm
Quoting Georginson
{quote} Prop firm trading is the best thing that can happen to most undisciplined and undercapitalized traders.
when a trader become undisciplined ?

Emotions.

With personal capital, most of traders afraid to accept loss, so the floating loss mounts. Ends up in ruining the whole capital.

This is for most of retail traders.

Second, a trader will not like to invest his own capital if it is 100k or more and risk all.

As individual traders, we may risk, 10k or 15 k like that.

In prop trading, you do not loose 10k, 15k, 50k or 100k,

You just loose fee paid and that too if you unsuccessful for second month as funded trader.
Intraday only.
  • #669,979
  • Jul 16, 2022 12:19pm Jul 16, 2022 12:19pm
next week starting on july 18, i will be selling cable with a target of 1684 as there is no logical reason to buy
  • #669,980
  • Jul 16, 2022 12:25pm Jul 16, 2022 12:25pm
Quoting Georginson
{quote} Prop firm trading is the best thing that can happen to most undisciplined and undercapitalized traders.
a disciplined trader can convert $ 0 [ zero ] into any amount, as cash in bank.

i will prove my point by coming on this list in exactly 3 months from today.

https://www.forexfactory.com/trades
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