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Cable Update (GBPUSD)

  • #675,061
  • Aug 11, 2022 11:58am Aug 11, 2022 11:58am
Quoting Coreg2004
{quote} Whale, yesterday at B(c) point on my chart I just posted. First I go with ABC, and if a C point is taken out I change the marking to 12345.
Btw, could you pls explain me that rule?

it means no HH for 5th wave?
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  • #675,062
  • Edited 12:10pm Aug 11, 2022 11:59am | Edited 12:10pm
Quoting Reverso
{quote} I got an idea, let him manage the $5 account, then you as the friend copy trade his trades using big account, don't let him know so that there will be no pressure on him, after you get enough profit for yourself to retire, then start saving the profit for him, once reached a significant sum then surprise him by telling him the truth and give him the money he deserved, but by doing so, he will lose the ability to trade because now he knows you will copy trade him, and he will be stressed. Am I a genius to come up with this plan? I think...
Dont do that yet , as far i remember, i can make 50% of my account in a week, smaller balance can make 100% or more, but it almost always gone in just couple hour of the next week
Let see if i can keep winning at least in a month

Edited, ah lost focus. You talked of my friend?
I had the same idea with you, but we separated by island and we talked about copy trading he seems refused . Moreover i had lost contact with him
10000% Wannabe . -$3000 & -$4000
Gold Recovery All Time Profit: -$3,961
  • #675,063
  • Aug 11, 2022 12:01pm Aug 11, 2022 12:01pm
Quoting thatRichDude
{quote} It's simple. Your trading range is more important than what most think, every range has 3 focal points, premium, equilibrum, and discount. Currently, GU is at premium, so for it to buy, it will at least get to equilibrum or discount. I guess this is subjective. Kind regards, RD
Interesting, can you point me to the material you read that can learn about this premium/equilibrium/discount thing?
I am open to more knowledge, see if this can compliment to my existing system.

EDIT: as i re-read your reply, I think you are telling me to look at my own range to determine whether it is at discount or premium.
To me, I entered based on the looks of price structure, and where the daily pivot and important levels are located at, i only trade around those lines, follow the system rule. The ongoing Long is based on the bounce of key levels of my system, plus a good reversal confirmation structure then only I enter, so I can be at peace and just let it ride to SL or TP, no regrets.
https://www.myfxbook.com/members/NGplus/freedom-you-deserve/11268620
Freedom you deserve. All Time Return: 50.4%
  • #675,064
  • Aug 11, 2022 12:05pm Aug 11, 2022 12:05pm
Quoting GODofMC
{quote} Dont do that yet , as far i remember, i can make 50% of my account in a week, smaller balance can make 100% or more, but it almost always gone in just couple hour of the next week Let see if i can keep winning at least in a month
Ok so what's your plan in forex?
Are you the type to gain fast returns, withdraw it, then some day the account will be destroyed?
Then you use PART of your withdrawal to open the same account again, gain a lot, then destroy it, every time you blow an account, you still have net profit after opening a new one?

For me I don't think anyone should think blowing an account is okay, unless you know what you are doing, and as long as at the end of day you are making money, then that is fine, and please educate me if I misunderstood what you trying to do.
https://www.myfxbook.com/members/NGplus/freedom-you-deserve/11268620
Freedom you deserve. All Time Return: 50.4%
  • #675,065
  • Aug 11, 2022 12:10pm Aug 11, 2022 12:10pm
Quoting Mitiblotch
{quote} I took it only once. Moreover, I think each time the questions should change, as they should have a large pool of questions.
I reckon.

Reminds me of the RAS effect that plays in when taking a similar test.

I am yet to get exclusive meetings and workshops after aceing Mensa's IQ test.

Sometimes, I wonder if these organizations use this IQ test to guage the collateral folly in certain geographics and know what buttons to keep pressing to keep the sect in that region mentally docile.

TRADING ALONE IS THE TEST OF THE MENTALLY STRONG. If you've been trading for at least 5 years profitably without narcotics, you have the mind of a genius. Such mind enjoys pain and boredom at levels the average mind can't even fathom. It turned out that boredom is a pleasure in itself, if you understand the inner workings of the mind.

Kind regards,

RD
  • #675,066
  • Aug 11, 2022 12:13pm Aug 11, 2022 12:13pm
Quoting Reverso
{quote} Ok so what's your plan in forex? Are you the type to gain fast returns, withdraw it, then some day the account will be destroyed? Then you use PART of your withdrawal to open the same account again, gain a lot, then destroy it, every time you blow an account, you still have net profit after opening a new one? For me I don't think anyone should think blowing an account is okay, unless you know what you are doing, and as long as at the end of day you are making money, then that is fine, and please educate me if I misunderstood what you trying...
Well said my friend. Most fail traders are hunger of fast return and ended up blew up their accounts at the end. I used to be like this in my first year of trading, but now no longer. I aim for consistent return even if it is small one. As long as we ended up being profitable at the end of the month, we are good.
With courage, patience, and discipline, success is a matter of time.
  • #675,067
  • Aug 11, 2022 12:18pm Aug 11, 2022 12:18pm
Quoting Reverso
{quote} Interesting, can you point me to the material you read that can learn about this premium/equilibrium/discount thing? I am open to more knowledge, see if this can compliment to my existing system. EDIT: as i re-read your reply, I think you are telling me to look at my own range to determine whether it is at discount or premium. To me, I entered based on the looks of price structure, and where the daily pivot and important levels are located at, i only trade around those lines, follow the system rule. The ongoing Long is based on the bounce...

Correct.

You can determine your range based on recent moves. The algorithm books price based on time before price not the other way.

If you notice after london close, price has been slowly dropping, why?

A question to ponder on.

Kind regards,

RD.
  • #675,068
  • Aug 11, 2022 12:19pm Aug 11, 2022 12:19pm
Quoting JameRomeo168
{quote} Well said my friend. Most fail traders are hunger of fast return and ended up blew up their accounts at the end. I used to be like this in my first year of trading, but now no longer. I aim for consistent return even if it is small one. As long as we ended up being profitable at the end of the month, we are good.
I am not judging GODofMC, maybe he blow his accounts but are still making money, it's best we understand from him his way of money management.
With that said, yes I think we're on the same side, I aim for consistent return, each SL 2.5%, TP 3.75% of my account, I do not feel missed out if I missed big monster candle because I have a fixed TP, I accept that I can't possibly capture all the movements in the market. Managing variable TP is a pain, sometimes you get less, sometimes more, average out the result is more or less comparable with fixed TP, but without the stress of managing it, that's my experience, can't speak for everyone else.
https://www.myfxbook.com/members/NGplus/freedom-you-deserve/11268620
Freedom you deserve. All Time Return: 50.4%
  • #675,069
  • Aug 11, 2022 12:25pm Aug 11, 2022 12:25pm
Quoting Reverso
{quote} Thanks, from your earlier reply you said the Bogdanoff have high IQ, made me casually searched for the test and got the result as below haha. Website to do the test is this though. https://www.arealme.com/iq/en/ {image} {image}
I took the test. I don't think it is very accurate...
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Tall tails tell tales.
  • #675,070
  • Aug 11, 2022 12:26pm Aug 11, 2022 12:26pm
Quoting Reverso
{quote} Ok so what's your plan in forex? Are you the type to gain fast returns, withdraw it, then some day the account will be destroyed? Then you use PART of your withdrawal to open the same account again, gain a lot, then destroy it, every time you blow an account, you still have net profit after opening a new one? For me I don't think anyone should think blowing an account is okay, unless you know what you are doing, and as long as at the end of day you are making money, then that is fine, and please educate me if I misunderstood what you trying...
That is what i was.i never had any net profit so far. Everything Blows . This is my last resort, if this gone i'll stop trade .

Still trying to collect my thought not to remember the amount i've lost so far. This week i think as i gain $10 to $20 per days it will be enought.
But sometimes it still haunt me, opening a trade without cut loss/SL for the GAIN and refuse the fact of floating minus . I know im wrong but sometimes keep refuse it.
And im still at lost of what i trying to do, just keep trading. In hope minimize the loss that i can make, less entering market, lower the lot and gain bigger pips rather than bigger $$ , that will do for a while now.
10000% Wannabe . -$3000 & -$4000
Gold Recovery All Time Profit: -$3,961
  • #675,071
  • Aug 11, 2022 12:26pm Aug 11, 2022 12:26pm
Quoting GODofMC
{quote} Look like top this day, glad im taking at 45. If this price come again i'll sell and hold( if i can) till London Open tomorrow m1 formed a wick, look like rejection from asians box. But if trying there once again . . . I expected tomorrow data already priced in,{image} a little update, price went back to 30, as if want to retest high. But still risky bet to BUY, as typing want to test that asian box again
Hi Bud, It was not a very good set-up by me. It was taken, because ..... ego. There is no room for ego when you trade and rightful been dished out the medicine. I'm up about 9% on the day and trailing two winning trades. Worked really hard today and came out on top!! Take care bud!
Don't trade what you think. Just what you see!!!
  • #675,072
  • Aug 11, 2022 12:32pm Aug 11, 2022 12:32pm
Quoting epzero
{quote} Never buy the high it will always get you worried before price reaches
I personally go with the flow-of-the-market and don't try and pick tops or bottoms. You have to do your own system and be totally focused. If it works for you then that's the main thing. The set-up was not really there, and I push My luck, but I'm up on the day, so that's the real objective!!!
Don't trade what you think. Just what you see!!!
  • #675,073
  • Aug 11, 2022 12:34pm Aug 11, 2022 12:34pm
Quoting Reverso
{quote} I am not judging GODofMC, maybe he blow his accounts but are still making money, it's best we understand from him his way of money management. With that said, yes I think we're on the same side, I aim for consistent return, each SL 2.5%, TP 3.75% of my account, I do not feel missed out if I missed big monster candle because I have a fixed TP, I accept that I can't possibly capture all the movements in the market. Managing variable TP is a pain, sometimes you get less, sometimes more, average out the result is more or less comparable with...


Are you still in the trade? Or you have manually cut your losses?

Please do the needful when the time arises. Protect your equity at all cost.

Kind regards,

RD
  • #675,074
  • Aug 11, 2022 12:35pm Aug 11, 2022 12:35pm
Quoting thatRichDude
{quote} Don't be fooled, a majority take more than one trial until they average out. It's the first trail that counts not the multiple trials to seem smart. Kind regards, RD
True, i did mine and got 120, that, i dont know option really helped.
Face 'ur fears & tame 'ur greed
  • #675,075
  • Aug 11, 2022 12:39pm Aug 11, 2022 12:39pm
Quoting Theoak
{quote} Hi Bud, It was not a very good set-up by me. It was taken, because ..... ego. There is no room for ego when you trade and rightful been dished out the medicine. I'm up about 9% on the day and trailing two winning trades. Worked really hard today and came out on top!! Take care bud!
Im myself always in doubt, thats why i posting a lot expressing my view, so that other member may correct it if it feel wrong. Even when opening a trade i always not consistent with TP/SL keep moving it .
10000% Wannabe . -$3000 & -$4000
Gold Recovery All Time Profit: -$3,961
  • #675,076
  • Aug 11, 2022 12:41pm Aug 11, 2022 12:41pm
Quoting thatRichDude
{quote} I reckon. Reminds me of the RAS effect that plays in when taking a similar test. I am yet to get exclusive meetings and workshops after aceing Mensa's IQ test. Sometimes, I wonder if these organizations use this IQ test to guage the collateral folly in certain geographics and know what buttons to keep pressing to keep the sect in that region mentally docile. TRADING ALONE IS THE TEST OF THE MENTALLY STRONG. If you've been trading for at least 5 years profitably without narcotics, you have the mind of a genius....
Hahaha... you might be correct. After all life is more about the wealthy trying to remain wealthy by using the seat of the poor and probably stupid. And yes, I think the forex market is the true test of IQ, mental fortitude and every other index one could use to judge a Homo sapien.

Sometimes I wonder if the people who design the forest Market are human at all.
  • #675,077
  • Aug 11, 2022 12:42pm Aug 11, 2022 12:42pm
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yes yes yes
  • #675,078
  • Aug 11, 2022 12:43pm Aug 11, 2022 12:43pm
Quoting thatRichDude
{quote} Are you still in the trade? Or you have manually cut your losses? Please do the needful when the time arises. Protect your equity at all cost. Kind regards, RD
Yup i am still in it, losing 1 trade doesn't bother me if i follow my system rule exactly, but i will feel regret if i trade outside my rule and loses, exiting early after things not looking good, only for it to hit tp at the end, makes me feel even worse, happened to me many times in the past that's why I'm still holding it, we never know where price will go.

With that said, i thank you for the reminder and tip.
https://www.myfxbook.com/members/NGplus/freedom-you-deserve/11268620
Freedom you deserve. All Time Return: 50.4%
  • #675,079
  • Aug 11, 2022 12:47pm Aug 11, 2022 12:47pm
Quoting JereMi256
{quote} True, i did mine and got 120, that, i dont know option really helped.

That option is a trick question.

Ever heard of the dunning krueger effect?

Well, most genuises tend to assume they don't really understand anything about a subject matter and in turn, they end coming up with breakthrough ideas. Dendrites in the brain of a genuis tends to be larger than the average brain.

Why?

They tend to soak up so much complex information, and somehow make sense of it and explain like an infant would.

Back to the dunning kruker effect, people suffering from this syndrome, tend to believe they have found the "last piece" to a puzzle. Now this puzzle can be any undertaking in life. Science, art, and the likes...and such folks flunk at anything basically.

Remember, if simplity is the mother of all sophistication, then, informed ignorance is the father of all genuises.

So when you use " i don't know" often, it doesn't depict your folly but quite the contrary. It shows how you would attack a subject matter. So, you are perceived as a very intelligent person. You do more of the tinkering in your mental faculty than trying to explain. So you used selective procastination as with most genuises.

Lol...that's okay for now!

Kind regards,

RD
  • #675,080
  • Aug 11, 2022 12:53pm Aug 11, 2022 12:53pm
Quoting Mitiblotch
Also took the IQ test. Here is my score. Should I be happy? Hehe... @Jolita you started it. {image}
Nailed it!
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