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Cable Update (GBPUSD)

  • #680,581
  • Sep 3, 2022 3:15am Sep 3, 2022 3:15am
Quoting billytt
{quote} To the vast majority of retail traders the market is random. But it isn't. Price is placed by the market maker therefore we need to play the MM game. Less thinking.
Just goes to show that will all have our different opinions right or wrong, that's what makes the market, in my opinion
  • #680,582
  • Sep 3, 2022 5:39am Sep 3, 2022 5:39am
Quoting buffedmage
{quote} i believe it might go down for while to the 1.1455 region and up move towards 1.1636 region , because 1.1636 hasn't gave retest ( a popular support broken back then aug 30 or 31 not sure thou ) {image}
Russia turned off the gas to Europe and gas prices are expected to increase again, which can cause GBP/USD to dump. Higher energy prices leads to more inflation and slower growth in the U.K.

Monday is also a holiday in the U.S., when liquidity will be reduced and the market can be more choppy.
don't believe in mumbo jumbo from gurus & charlatans, don't pay them money
  • #680,583
  • Sep 3, 2022 5:49am Sep 3, 2022 5:49am
CBCD by stealth
the FED lay the infrastructure next year

"The premise is that if a frog is put suddenly into boiling water, it will jump out, but if the frog is put in tepid water which is then brought to a boil slowly, it will not perceive the danger and will be cooked to death."
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On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #680,584
  • Edited 6:09am Sep 3, 2022 5:53am | Edited 6:09am
I was checking on some of my losing trades like I always do so I can make corrections over coming weeks, I had to ask myself how I lost this descent sell to stoploss, I had to use sl on this account cus it’s prop firm fund and 5% daily DD
ended the week with almost 4% profit but could have been so cool if all this sells workout.

2 things i learn is

entry time and rules breaking
we go again next week and lesson learnt
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MY OPINION NOT FINANCIAL ADVISE
  • #680,585
  • Sep 3, 2022 6:09am Sep 3, 2022 6:09am
Quoting donfriday
I was checking on some of my losing trades like I always do so I can make corrections over coming weeks, I had to ask myself how I lost this descent sell to stoploss, I had to use sl on this account cus it’s prop firm fund and 5% daily DD ended with almost 4% profit but could have been so cool if all this sells workout. 2 things i learn is entry time and rules breaking we go again next week and lesson learnt {image}
inconsistent lot trading is not bad but won't last long.
https://breakpullback.com
  • #680,586
  • Sep 3, 2022 6:11am Sep 3, 2022 6:11am
my view for the week ahead
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MY OPINION NOT FINANCIAL ADVISE
  • #680,587
  • Sep 3, 2022 6:13am Sep 3, 2022 6:13am
Quoting eyefeelsix
{quote} inconsistent lot trading is not bad but won't last long.
Why you feel so ?

I want to have a healthy argument over this issue.
Intraday only.
  • #680,588
  • Sep 3, 2022 6:13am Sep 3, 2022 6:13am
connected to $ outlook's
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On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #680,589
  • Sep 3, 2022 6:15am Sep 3, 2022 6:15am
Quoting eyefeelsix
{quote} inconsistent lot trading is not bad but won't last long.

from the propfirm account
everytime i drop down of 2.5% i reduce my lot size to bounce back atleast half of what i lost previously if i make it back to full daily dd i go back to 1% use of my margin
MY OPINION NOT FINANCIAL ADVISE
  • #680,590
  • Sep 3, 2022 6:17am Sep 3, 2022 6:17am
Quoting Bones
connected to $ outlook's {image} {image}
I have been telling that Dollar will strengthen and US Stock Market will crash since 2021, glad that you finally saw the obvious this month
You have to have an IQ higher than 90 to interact with this user.
  • #680,591
  • Sep 3, 2022 6:18am Sep 3, 2022 6:18am
Quoting donfriday
my view for the week ahead {image}
I think that seems to be the plausible action. We should see a rise after the PM is chosen if anything to just clear the air of uncertainty. How long will the honeymoon period last is dependent on how long she will keep her muzzle on.
Insane in the Brain..
  • #680,592
  • Sep 3, 2022 6:21am Sep 3, 2022 6:21am
Quoting donfriday
{quote} from the propfirm account everytime i drop down of 2.5% i reduce my lot size to bounce back atleast half of what i lost previously if i make it back to full daily dd i go back to 1% use of my margin
Don't you think scalping sessions are easier ?

Tokyo open, Frankfurt/London open ?

Infact I won last two challenges mainly trading Frnkfurt/LO
Intraday only.
  • #680,593
  • Sep 3, 2022 6:22am Sep 3, 2022 6:22am
Quoting BeeTogether
{quote} I think that seems to be the plausible action. We should see a rise after the PM is chosen if anything to just clear the air of uncertainty. How long will the honeymoon period last is dependent on how long she will keep her muzzle on.
after the PM?

whats going on in UK bro?

i dont read news at all except the update i get from my IG account on the right side screen.
MY OPINION NOT FINANCIAL ADVISE
  • #680,594
  • Edited 6:34am Sep 3, 2022 6:24am | Edited 6:34am
Quoting navk
{quote} Don't you think scalping sessions are easier ? Tokyo open, Frankfurt/London open ? Infact I won last two challenges mainly trading Frnkfurt/LO

i love London open thats my main trading goal NY is tricky and need to be study with PHD degree. to master NY
MY OPINION NOT FINANCIAL ADVISE
  • #680,595
  • Sep 3, 2022 6:28am Sep 3, 2022 6:28am
Quoting navk
{quote} Why you feel so ? I want to have a healthy argument over this issue.
the simple answer is have you ever passed mff account before? and manage it well until now?
https://breakpullback.com
  • #680,596
  • Sep 3, 2022 6:38am Sep 3, 2022 6:38am
Quoting eyefeelsix
{quote} the simple answer is have you ever passed mff account before? and manage it well until now?
OH yes, many many.

But I expect your reasoning for inconsistent lot size trading
Intraday only.
  • #680,597
  • Sep 3, 2022 6:43am Sep 3, 2022 6:43am
Quoting navk
{quote} OH yes, many many. But I expect your reasoning for inconsistent lot size trading

if he was trading on daily DD he will know how to reduce lot size to remain a consistent trader cus u risk 1% margin sl 2.5% reward 5 to 10% its so impossible to repeat same lot if such trade dont go well..


my sl depend on my target

i use 25pips for 50/100pips target or 50sl for 100pips target
MY OPINION NOT FINANCIAL ADVISE
  • #680,598
  • Sep 3, 2022 6:47am Sep 3, 2022 6:47am
Quoting donfriday
{quote} if he was trading on daily DD he will know how to reduce lot size to remain a consistent trader cus u risk 1% margin sl 2.5% reward 5 to 10% its so impossible to repeat same lot if such trade dont go well.. my sl depend on my target i use 25pips for 50/100pips target or 50sl for 100pips target
very good stop loss, TP settings.

And good especially when you trade funded account. Conservative and can hold trades few hours or a day.

But, for winning a challenge, I follow aggressive strategy. The time is constraint here. Loss of time also can not be ignored.
Intraday only.
  • #680,599
  • Sep 3, 2022 6:52am Sep 3, 2022 6:52am
In my " Trading book " there is no inconsistent lot size trading.

All about risk/reward.

I risk some times 2 pips for 10 pips reward, with 5 standard lots.

I risk 20 pips for 20/30 pips reward with 2/3 standard lots.

I risk 5 /10/15 pips ( very few times ) for 50 to 60 pips reward, with 12 0r 15 standard lots.

The important thing for me is daily loss limit. 5 %. which I never allow any day more than 3 %
Intraday only.
  • #680,600
  • Sep 3, 2022 6:55am Sep 3, 2022 6:55am
And there is one more thing.

If you manage 0.5 to 1 % profit in a day by maintaining a risk of 5 % daily loss limit, with whatever inconsistent lot size, it is acceptable in my " trading book "
Intraday only.
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