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Cable Update (GBPUSD)

  • #670,001
  • Jul 17, 2022 1:22am Jul 17, 2022 1:22am
Quoting fontu
{quote} interesting reading about prop firm! looks there are lots of advantages there as loss chance is minimum but at the same time loosing that minimum is also maximum if not contained within their rules ! looks mlm pyramid type scheme , suck most to pay less and ultimately certain to fail . anyway not looks much different than trading we do with brokers , maximum leverage with huge money power with small investment in one broker and even live accounts may consider demo as broker might have in control for all accounts there and may not centrally...
yes, this forex trading world is big.

Numerous opportunities.

But the better way to trade ?

Do not use your money, use other"s money.

You work as subcontractor and take 80 % share in profit if you know how to trade.

If you loose, you loose just the fee paid. 500 Bucks.
Intraday only.
  • #670,002
  • Jul 17, 2022 1:34am Jul 17, 2022 1:34am
Quoting navk
{quote} yes, this forex trading world is big. Numerous opportunities. But the better way to trade ? Do not use your money, use other"s money. You work as subcontractor and take 80 % share in profit if you know how to trade. If you loose, you loose just the fee paid. 500 Bucks.
well said! use others money I always afraid of loosing any others money and never entertain the offer . better all loss the own only. anyway as ageing and highly debilitated condition should completely withdraw soon with perfect retirement and wait for the end , recently survived such action though . like it . so may to do something different next days . and doable long term if got more time . maintaining only 5 % floating drawdown with others money should not be any easy though . if real they should offer only 10 % of profit rather 80- 90 % , looks totally insane and unhealthy! take care
Not understand?better not follow my analyses!doubt clearer first, risks ++
  • #670,003
  • Jul 17, 2022 1:41am Jul 17, 2022 1:41am
Quoting fontu
{quote} well said! use others money I always afraid of loosing any others money and never entertain the offer . better all loss the own only. anyway as ageing and highly debilitated condition should completely withdraw soon with perfect retirement and wait for the end , recently survived such action though . like it . so may to do something different next days . and doable long term if got more time . maintaining only 5 % floating drawdown with others money should not be any easy though . if real they should offer only 10 % of profit rather 80-...
whether it is trading with personal capital or prop fund money, one must know how to trade within risk limits.

Else we shall go on deposit with brokers or pay fees to prop firm.

Others money = Virtual money given by Prop firms.

The firms may copy your trades if you are in Tier 1 category.

Or they pay successful traders using fee collected.

There are firms pay share upto 90 %, for very successful traders and not loosing funded account for 3months ore more.

This 80 % share model works for them, that is why they run the business.
Intraday only.
  • #670,004
  • Jul 17, 2022 1:43am Jul 17, 2022 1:43am
!!!! The euro is already reflecting a lot of the negativity, but the currency could fall another 5% if markets price in a full shutdown of Nord Stream 1, said strategists including Christian Mueller-Glissmann. !!!!

https://www.bloomberg.com/news/artic...ns-off-the-gas
  • #670,005
  • Jul 17, 2022 1:51am Jul 17, 2022 1:51am
Quoting fontu
{quote} well said! use others money I always afraid of loosing any others money and never entertain the offer . better all loss the own only. anyway as ageing and highly debilitated condition should completely withdraw soon with perfect retirement and wait for the end , recently survived such action though . like it . so may to do something different next days . and doable long term if got more time . maintaining only 5 % floating drawdown with others money should not be any easy though . if real they should offer only 10 % of profit rather 80-...
Myforexfunds and ftmo are like Fiverr and upwork. They connect buyers of services to sellers of services. These firms act as connectors and they only take 20% while giving 80% to the person that got the job done which is fair in all sense of it.

If these prop firms actually want traders to fail, they will not be offering unlimited reset for traders that didn't meet up with the target during the evaluation phase and they will not also be offering extension to complete such task.

It is a one time payment for traders that make any profit on the account, and such fee will be refunded once the trader meets target. Also noteworthy that after the trader is operating a funded Account, there is no profit target set for the trader at all. Whatever is made will be shared.

Do you also expect the prop firms to allow traders blow up their gigantic capital by not putting strict rules in place? Hell no. In regular forex trading Accounts, only 12% of traders are actually successful.

Prop firms are looking for profitable traders that are disciplined and any kind of profit made will be celebrated as they know it is never easy. The sooner traders start realizing the importance of the few legitimate prop firms, the better their trading decisions will be.

Do proper background check before coming to public forum to start criticizing. No offense meant here but necessary for public thread users to make proper research before concluding.

Peace, George.
Data + Stat + Risk/Emotions Management
  • #670,006
  • Jul 17, 2022 1:52am Jul 17, 2022 1:52am
Quoting TheWolf
!!!! The euro is already reflecting a lot of the negativity, but the currency could fall another 5% if markets price in a full shutdown of Nord Stream 1, said strategists including Christian Mueller-Glissmann. !!!! https://www.bloomberg.com/news/artic...ns-off-the-gas
This article came on july 12 th.

That is the day eurusd was quoting at 1.0000

Thereafter on july 14 th, the price fell to 0.9500 ( 5 % )

so the fall finished ?
Attached Image (click to enlarge)
Click to Enlarge Name: EURUSDH1.png Size: 11 KB
Intraday only.
  • #670,007
  • Jul 17, 2022 2:02am Jul 17, 2022 2:02am
Quoting navk
{quote} This article came on july 12 th. That is the day eurusd was quoting at 1.0000 Thereafter on july 14 th, the price fell to 0.9500 ( 5 % ) so the fall finished ? {image}
https://www.google.com/amp/s/amp.dw....gas/a-62474649

I thought I was in second dimension and missed Euro falling to 0.95 for a second!? Euro fell to 0.995 not 0.95 or am I really missing something here?
  • #670,008
  • Jul 17, 2022 3:33am Jul 17, 2022 3:33am
Quoting TheWolf
{quote} https://www.google.com/amp/s/amp.dw....gas/a-62474649 I thought I was in second dimension and missed Euro falling to 0.95 for a second!? Euro fell to 0.995 not 0.95 or am I really missing something here?
that is my calculation error
Intraday only.
  • #670,009
  • Jul 17, 2022 3:34am Jul 17, 2022 3:34am
Quoting Georginson
{quote} Myforexfunds and ftmo are like Fiverr and upwork. They connect buyers of services to sellers of services. These firms act as connectors and they only take 20% while giving 80% to the person that got the job done which is fair in all sense of it. If these prop firms actually want traders to fail, they will not be offering unlimited reset for traders that didn't meet up with the target during the evaluation phase and they will not also be offering extension to complete such task. It is a one time payment for traders that make any profit on...
well said , no offense either , no intention to , just start learning about them . there must risk of all kinds everyplace , and so here likely,if any ! let they flourish and practically engaged all traders if beneficial for traders . create good traders , gve maximum profits and all good to all firms and traders . take care
Not understand?better not follow my analyses!doubt clearer first, risks ++
  • #670,010
  • Jul 17, 2022 3:45am Jul 17, 2022 3:45am
Quoting fontu
{quote} well said , no offense either , no intention to , just start learning about them . there must risk of all kinds everyplace , and so here likely,if any ! let they flourish and practically engaged all traders if beneficial for traders . create good traders , gve maximum profits and all good to all firms and traders . take care
let me tell you..

With prop firm, when your floating loss touches 5 %, your account is suspended.

You can not trade anymore in that account.

With a broker, the floating loss can be more...10 %, 20 % and it can see as good as 50 %. Then the price may reverse to your advantage.

That is the advantage with broker account.

But.. do you want allow 50 % floating loss ?

what is the guarantee that 50 % floating loss will not eat the whole account ?

Has any retail trader taken loss when it becomes 5 % ?

In that case, the account can survive for 20 more basket of trades.

With prop firm, you will concentrate more on containing losses.

You will aim for better accurate entry.
Intraday only.
  • #670,011
  • Jul 17, 2022 4:42am Jul 17, 2022 4:42am
Quoting navk
{quote} let me tell you.. With prop firm, when your floating loss touches 5 %, your account is suspended. You can not trade anymore in that account. With a broker, the floating loss can be more...10 %, 20 % and it can see as good as 50 %. Then the price may reverse to your advantage. That is the advantage with broker account. But.. do you want allow 50 % floating loss ? what is the guarantee that 50 % floating loss will not eat the whole account ? Has any retail trader taken loss when it becomes 5 % ? In that case, the account can survive for 20...
Thanks navk and all for good information about. Will check them as to how many rules they set to filter for beter traders and how many successfully stay funded without suspension for years! May be their forum threads shed more light about.
Not understand?better not follow my analyses!doubt clearer first, risks ++
  • #670,012
  • Jul 17, 2022 9:24am Jul 17, 2022 9:24am
Quoting Georginson
{quote} What I mean is traders that are not disciplined will be forced to be disciplined with prop firms due to their daily 5% equity loss threshold. Traders that are also undercapitalized will not have such problem with prop firms, as 2% profit on 100,000$ prop firm account is more than 20% profit on capital of 5,000$ personal account. I'm currently taking test worth $700,000 (3 separate accounts with mff) as I type and I know first hand how discipline is enforced in traders real time.


after election drama i will come down there and enjoy the profit with you bro.
MY OPINION NOT FINANCIAL ADVISE
  • #670,013
  • Jul 17, 2022 10:19am Jul 17, 2022 10:19am
Quoting Georginson
{quote} Thanks mate. I wish all of us the best outcome in trading and in our lives generally.
U dont need luck just the right entries..either way i wish u the best
  • #670,014
  • Jul 17, 2022 10:31am Jul 17, 2022 10:31am
Quoting donfriday
{quote} after election drama i will come down there and enjoy the profit with you bro.
I will entertain you with lots of food and additional 50 pips ... Interesting.

Quoting nAVIN2007
{quote} U dont need luck just the right entries..either way i wish u the best
Yes you are right mate, luck doesn't cut it always but everyone still needs an element of luck.
Data + Stat + Risk/Emotions Management
  • #670,015
  • Jul 17, 2022 10:37am Jul 17, 2022 10:37am
Quoting Georginson
{quote} Yes you are right mate, luck doesn't cut it always but everyone still needs an element of luck.

I wish u good luck as always..u think this son bitch will go up?
  • #670,016
  • Jul 17, 2022 10:43am Jul 17, 2022 10:43am
Quoting Marcieny
{quote} This is where the market cooks traders .. Discipline and technique are separate and different things... winning or losing has nothing to do with emotions.... you can make a lot of profit on a bad day... and lose on a day well... Discipline is doing what has to be done even if you don't like it.
So nice to see u back.
It's bin ages...
Hope d Brazilian weather is good today
  • #670,017
  • Jul 17, 2022 11:03am Jul 17, 2022 11:03am
Quoting nAVIN2007
{quote} I wish u good luck as always..u think this son bitch will go up?
Yes I think it will go up as far as 1.17 holds... The up may be limited to 1.23 though.
Data + Stat + Risk/Emotions Management
  • #670,018
  • Edited 12:21pm Jul 17, 2022 11:31am | Edited 12:21pm
Quoting Jolita
{quote} Coreg, this worked well today. Doesn't look we are going to close higher this week, still not bad a few green candles on the table.
Jolita, it was a relatively safe bet, even if GU had been retracing only (iv)-(v) move. On Friday, GU made ID/NR7 bar. @Pat had 2 weekends ago an interesting post on how to trade ID. Worthy of checking it out.
If (i)-(v)move is the ending diagonal formation, the low should be in place. After the min target @1.1872 has been reached, I expect now 50% ret @1.1907 to be hit. The timing for this target is at least until London opens on Monday. Soon we will see if the market will follow the theory. Sorry for the late response, I was off the grid. Good luck to everyone.
Attached Image (click to enlarge)
Click to Enlarge Name: GU 07.15 30M.EOW.png Size: 49 KB
Always trade your own plan...I don't provide trading signals.
  • #670,019
  • Jul 17, 2022 11:51am Jul 17, 2022 11:51am
Monday support 1822 to begin the week
Attached Image (click to enlarge)
Click to Enlarge Name: GBPUSDDaily.png Size: 27 KB
  • #670,020
  • Jul 17, 2022 12:51pm Jul 17, 2022 12:51pm
Patiencefx when you say 1822 I initially thought you where talking about gold. Are you as patient as the name suggests
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