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Cable Update (GBPUSD)

  • #675,081
  • Aug 11, 2022 12:59pm Aug 11, 2022 12:59pm
Quoting ScalaFX
{quote} So the run is over, now we must think about good place to get out, Ive shorts from 2240 till 2275, I want first 2210, then 2130 if we can return to make SRF for further buy, lets see
Lets focus on the prize after this small drop I have taken now another fifty from added positions, all set now protected at 2240 where will be so more for me, I hoping for 2130 then will be deciding, more short ( I think so) or long, prize must take out 2180 for this scenario, otherwise SL will be hit
People don't plan to lose. They lose because they don't plan.
  • #675,082
  • Aug 11, 2022 12:59pm Aug 11, 2022 12:59pm
Quoting pipsofacto
{quote} I took the test. I don't think it is very accurate... {image}
Mother od God
People don't plan to lose. They lose because they don't plan.
  • #675,083
  • Aug 11, 2022 1:02pm Aug 11, 2022 1:02pm
...perhaps this market has been unwilling to push the pairing higher despite soft U.s PPi numbers, in anticipation of the Uk Gdp numbers due early tomorrow Uk morning? (6am gmt.) Soft forecast consensus on those too could see pressure on £ if they come to pass. Conversely, we could see a £ rally if the numbers come out harder. Rangy/consolidatory on 1hr right now.

1hr below
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Trader with an Edge.
  • #675,084
  • Aug 11, 2022 1:02pm Aug 11, 2022 1:02pm
all out !!!!
took profit around 1.22000
gained back 200 $ from the 220$ loss yesterday
now withdrawing 300 $
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yes yes yes
  • #675,085
  • Aug 11, 2022 1:07pm Aug 11, 2022 1:07pm
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yes yes yes
  • #675,086
  • Aug 11, 2022 1:08pm Aug 11, 2022 1:08pm
Quoting Moty
all out !!!! took profit around 1.22000 gained back 200 $ from the 220$ loss yesterday now withdrawing 300 $ {image}
Congrats bro .
I think i need a full years to gain back the losses i made
10000% Wannabe . -$3000 & -$4000
Gold Recovery All Time Profit: -$3,961
  • #675,087
  • Aug 11, 2022 1:12pm Aug 11, 2022 1:12pm
Quoting GODofMC
{quote} 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....
I can see my past self in you, over the years, i trade on and off, when i got the feeling of trading, i put in 100usd to trade, i did get up to 100% return sometimes, but at the end the account will blow up to zero, then i will give up, thinking trading is not for me. After some time, the interest will kick in again, i would put another 100usd to try again, blow up, repeat the cycle.

At one point, i came across a good video on money management and some trading strategies. Then i start to manual backtest them and get good result, then create a detailed excel file and ask for coder service, pay 1xx sometimes 2xx per time, depending on the complexity of thy strategy I'm trying to code.

Going live with the EA, they performed poorly. Then i continue to research and come up with new excels asking for coders service, i don't know how much i already spent on this, it's not cheap.

At some point, after several failed systems, i quitted for a period again, thinking forex is not for me again. Until i came across Fischer's book. I put effort in reading it, manual backtest it with good result, further live testing it with good result after some slight modification to his original strategy.

Officially going live this year's July with quite a huge sum of starting capital, first week was fantastic but went negative as i was a bit nervous handling such a big account and break rules sometimes to take invalid trades, some trades I exit in panic only to see it tp later, overall a bit unstable.

Then finally, towards the final week of July, i finally stabilised. I can proudly say I'm on my way to become a successful trader, I never truly earned this much of profit before, i only have lost money in the past. I follow exactly the rule, have a plan before the London opens to prevent over trade, everything feels systematic and in control.

As long as you do not give up, you will reach there eventually. There are many obstacles along the way, at some point you will discover the strategy that fits you and finally giving you consistent return. Do not underestimate slow and steady, it keeps compounding and make you retire faster than you expect, good luck.
https://www.myfxbook.com/members/NGplus/freedom-you-deserve/11268620
Freedom you deserve. All Time Return: 54.4%
  • #675,088
  • Aug 11, 2022 1:14pm Aug 11, 2022 1:14pm
Quoting Mitiblotch
{quote} 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.

I love subject matters like this..

Of course they are humans but a little more psychotic.

These are master psychologist who consult the folks who built the algorithms or A.I that these Central Banks use to book price.

Now what is the one thing we humans has failed to manage? not companies, not countries, not anything of that sort, but US. Humans have failed to keep their emotions in check.

Failure of anything is not in the thing itself but the handler of that thing. Assign an A.I to rule a country with precise parameters and see what happens...

Now why do I think it's an A.I that books price?
.
Well gone are the days of trading floors, they are better and faster ways to screw people over now

So there's supervised learning and unsupervised learing.

Now stay with me here, I'm gonna break what the A.I that books price does, so you will see what you're up against.

Before I dive into that, you must understand what makes an algorithm smart or "artificially intelligent" as the popular term.

The main difference is one uses labeled data to help predict outcomes, while the other does not. However, there are some nuances between the two approaches, and key areas in which one outperforms the other.

But how?

Supervised learning is a machine learning approach that’s defined by its use of labeled datasets. These datasets are designed to train or “supervise” algorithms into classifying data or predicting outcomes accurately. Using labeled inputs and outputs, the model can measure its accuracy and learn over time.

What about Unsupervised?

Unsupervised learning uses machine learning algorithms to analyze and cluster unlabeled data sets. These algorithms discover hidden patterns in data without the need for human intervention (hence, they are “unsupervised”).

You can see how these bank algorithms are already 1000^90b smarter than humans?

Imagine the dataset available to the banks? How you enter? What pattern you use? When you lose? How you take your next trade after losing? all these nuances are logged and analyzed to discover hidden human behaviours, that you don't even know about yourself

Now it gets interesting here,

Semi-supervised learning is a WICKED THING REALLY, banks use this to manipulate by purposefully training dataset with both labeled and unlabeled data...


I will continue.....

Kind regards,

RD
  • #675,089
  • Aug 11, 2022 1:26pm Aug 11, 2022 1:26pm
Quoting thatRichDude
{quote} I love subject matters like this.. Of course they are humans but a little more psychotic. These are master psychologist who consult the folks who built the algorithms or A.I that these Central Banks use to book price. Now what is the one thing we humans has failed to manage? not companies, not countries, not anything of that sort, but US. Humans have failed to keep their emotions in check. Failure of anything is not in the thing itself but the handler of that thing. Assign an A.I to rule a country with precise parameters and see what happens......

So the Central Bank's algorithm is not a mechanical one that can easily be understood and cracked. No! This type of A.I is one that gets smarter on every data input. It learns and keeps learning because it's designed that way. We traders are the inputs. Even hedge funds, prop firms, insurance firms and the likes get eaten alive.

Brokerage firms have access to credits right? Ask yourself this, how come they have so much credit power that they disburse multiple millions every year to traders, hedge funds, prop firms and the likes? You think the central bank doesn't have interests in your data??????????

They are secret meeting being held. Take this with a gain of salt.

Now your eyes have been opened.

I will continue...

Kind regards,

RD
  • #675,090
  • Aug 11, 2022 1:37pm Aug 11, 2022 1:37pm
Quoting thatRichDude
{quote} So the Central Bank's algorithm is not a mechanical one that can easily be understood and cracked. No! This type of A.I is one that gets smarter on every data input. It learns and keeps learning because it's designed that way. We traders are the inputs. Even hedge funds, prop firms, insurance firms and the likes get eaten alive. Brokerage firms have access to credits right? Ask yourself this, how come they have so much credit power that they disburse...

I think I said enough already.

Two ways people beat the algorithm is being an excellent money manager or knowing where tricks were played before and anticpate the fractal repetition of that trick being played again and execute like a robot when it presents itself. Price loves to disguise similar moves in fractal guises. To further confuse people. You hardly see the same thing repeating twice. Even if it does, it happens in fractals...

I wish i could say more, but time won't permit.

One last word, create a scene in your mind where you are entering trades and it hit your targets. Do this consistently. You will activate your RAS(Reticular Activating System) to only see winning setups. Trust me on this one! People underestimate the power of the mind when trading, yet that's the only way to be consistent... Ouch! I think i said enough already

On that note, happy trading!

Kind regards,

RD
  • #675,091
  • Edited 1:50pm Aug 11, 2022 1:38pm | Edited 1:50pm
Quoting thatRichDude
{quote} So the Central Bank's algorithm is not a mechanical one that can easily be understood and cracked. No! This type of A.I is one that gets smarter on every data input. It learns and keeps learning because it's designed that way. We traders are the inputs. Even hedge funds, prop firms, insurance firms and the likes get eaten alive. Brokerage firms have access to credits right? Ask yourself this, how come they have so much credit power that they disburse...
This is all very interesting/entertaining to whatever extent, and I am sure it is well meaning, but to the average retail trader, probably only with a shop-bought laptop or pc, it means nothing, and is not useful in his/her endeavor to become a consistently profitable trader, save for part of your last post. What they need is threefold, and in the order listed. Your last post probably partly fits into c., below.

a. To understand that they need a trading edge, what you need to know about one, and to understand what one is, and as importantly, what one is not.
b. To obtain/develop their own proven edge, with documented empirical evidence of it's validity as an edge.
c. To learn to trade their chosen edge consistently profitably, by mastering their own trading psychology. (ie practice practice practice, within a disciplined structure/plan, with real and achievable, timed, and measurable objectives, on way to their goal, as detailed above.)
Trader with an Edge.
  • #675,092
  • Aug 11, 2022 1:50pm Aug 11, 2022 1:50pm
Quoting Mitiblotch
{quote} Yeah, just took a short with calculated risk. Short 2204. TP 2170. (Actually my second scalp.) I have my fibs saying no real buys until at least 2145 or 2109.
Out at 2193 and thats 11 pips. Gave me some $105. Good day. Seems price is setting up for a dump.
  • #675,093
  • Aug 11, 2022 1:51pm Aug 11, 2022 1:51pm
Quoting Reverso
{quote} It seems Master Bogdanoff refuse to let me hit SL and pump it up again... {image}
Sadly, hit SL, the worse thing is tp was nearly hit, then go back all the way to sl, but it's ok, i followed the rule to not manually exit and let it ride to destination, destiny chose sl, market wants to take back some from me, it's fine, hope tomorrow will be good.
https://www.myfxbook.com/members/NGplus/freedom-you-deserve/11268620
Freedom you deserve. All Time Return: 54.4%
  • #675,094
  • Aug 11, 2022 2:06pm Aug 11, 2022 2:06pm
Eurusd trend remains down still.
  • #675,095
  • Aug 11, 2022 2:15pm Aug 11, 2022 2:15pm
Gold going long at 1786
  • #675,096
  • Aug 11, 2022 2:41pm Aug 11, 2022 2:41pm
1786.50 I am waiting to go long for gold
  • #675,097
  • Aug 11, 2022 2:44pm Aug 11, 2022 2:44pm
Quoting Houtbay
1786.50 I am waiting to go long for gold
you might be disappointed with the long position though once the price breaks 1784
don't believe in mumbo jumbo from gurus & charlatans, don't pay them money
  • #675,098
  • Aug 11, 2022 2:46pm Aug 11, 2022 2:46pm
Quoting pipsofacto
{quote} I took the test. I don't think it is very accurate... {image}
pipsofacto, I agree. Mine is way above the Mensa test score that I took in 2006, but I had fun.
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Always trade your own plan...I don't provide trading signals.
  • #675,099
  • Aug 11, 2022 2:51pm Aug 11, 2022 2:51pm
Quoting Whale
{quote} Btw, could you pls explain me that rule? it means no HH for 5th wave? {image}
Whale, we can't say anything about the timing yet bc we don't know if W:4 is in place.
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Always trade your own plan...I don't provide trading signals.
  • #675,100
  • Aug 11, 2022 2:54pm Aug 11, 2022 2:54pm
Quoting Coreg2004
{quote} pipsofacto, I agree. Mine is way above the Mensa test score that I took in 2006, but I had fun. {image}
Yeah, I didn't know a lot of the answers so I tried to exclude what I thought was obviously wrong and took a guess at what remained. I don't put a lot of credence on tests like that, but you are right, they are fun.

Cheers.
Tall tails tell tales.
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