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Cable Update (GBPUSD)

  • #680,601
  • Sep 3, 2022 6:57am Sep 3, 2022 6:57am
eyefeelsix, I want to have your views also.

It is all just learning lessons.

W e are all learners.

A trader learns every day one new thing or more.
Intraday only.
  • #680,602
  • Sep 3, 2022 7:24am Sep 3, 2022 7:24am
Look at this 1 minute set up.

It happened yesterday after NFP.

Why should I trade only 2 lots and why not 6 or 7 lots ? It can get you 50 to 60 pips.

With 2 lots, the risk in money is 15 pips x 20 $ = 300 $. Reward is 50 pips x 20 $ = 1000 $
With 7 lots the risk in money is 15 pips x 70 $ = 1050 $. Reward is 50 pips x 70 $ = 3500 $
My daily loss limit is 5000 $ ( 5 % ) , Remember this.

My only not trading this set up is...Friday.

Nothing else.
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Intraday only.
  • #680,603
  • Sep 3, 2022 7:34am Sep 3, 2022 7:34am
Quoting navk
eyefeelsix, I want to have your views also. It is all just learning lessons. W e are all learners. A trader learns every day one new thing or more.
Just 151$ is needed to pass... Despite this tumultuous market... All glory to God.
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Data + Stat + Risk/Emotions Management
  • #680,604
  • Edited 7:57am Sep 3, 2022 7:41am | Edited 7:57am
Quoting Georginson
{quote} Just 151$ is needed to pass... Despite this tumultuous market... All glory to God. {image}
Just leave alone fear. Leave alone excitement.

All with your psychology. Keep in mind always " YES, I CAN DO IT "

I have come across this yesterday while passing TFF phase 2 challenge.

I needed 340 $ when Friday opened.

I did not wait for NFP.

I knew NFP can do anything.

I traded Frankfurt / LO and achieved the target.

Physiologically, trading phase 2 and Funded account is more important.
Intraday only.
  • #680,605
  • Sep 3, 2022 7:43am Sep 3, 2022 7:43am
Quoting navk
{quote} OH yes, many many. But I expect your reasoning for inconsistent lot size trading

  1. then why do you do the same test ( 100k ) in the same prop firm ( mff ) if you don't blow it up/or break the rules on ( real ) before, that doesn't make sense to me
  2. you can see donfriday lot size ( 0.02 ) to catch tens/hundreds of pips, when he failed he tried to fix it with just a few pips with a big lot size ( 1.00 lot size or 50% mark up ) it's realy not healthy, he will repeat that way continuously, trading is not just for a week, month or year but forever.
  3. give them a good educations, that doing challenges is not as easy as you give, because I see :

  1. every time you share your trading plan here 80-90% is fails ( maybe franz had a point about that and i see it now )
  2. you come back with 100% a successful trade showing off the profits as if trading was easy
  3. this is not an attack or jealousy for you ( like, dislike, ignore etc ) because I don't care about that, all the data I see are facts on the ground here ( all irrelevant )


--- sorry if offended, have a nice weekend.

https://breakpullback.com
  • #680,607
  • Sep 3, 2022 7:55am Sep 3, 2022 7:55am
Quoting Georginson
{quote} Just 151$ is needed to pass... Despite this tumultuous market... All glory to God. {image}

u will do it..account that big is just a few pips
  • #680,608
  • Sep 3, 2022 7:55am Sep 3, 2022 7:55am
Quoting eyefeelsix
{quote} then why do you do the same test ( 100k ) in the same prop firm ( mff ) if you don't blow it up/or break the rules on ( real ) before, that doesn't make sense to me you can see donfriday lot size ( 0.02 ) to catch tens/hundreds of pips, when he failed he tried to fix it with just a few pips with a big lot size ( 1.00 lot size or 50% mark up ) it's realy not healthy, he will repeat that way continuously, trading is not just for a week, month or year but forever. give them a good educations, that doing challenges is not as easy as you give,...
And trust me, if one wants to win in Forex trading, 3 to 5 years. + Blown capital at least 10 times.

And if one wants to win prop firm accounts with bigger capital, 3 to 6 months experience needed + Blown challenges. + Blown funded account/s
Intraday only.
  • #680,609
  • Sep 3, 2022 8:11am Sep 3, 2022 8:11am
Quoting eyefeelsix
{quote} then why do you do the same test ( 100k ) in the same prop firm ( mff ) if you don't blow it up/or break the rules on ( real ) before, that doesn't make sense to me you can see donfriday lot size ( 0.02 ) to catch tens/hundreds of pips, when he failed he tried to fix it with just a few pips with a big lot size ( 1.00 lot size or 50% mark up ) it's realy not healthy, he will repeat that way continuously, trading is not just for a week, month or year but forever. give them a good educations, that doing challenges is not as easy as you give,...
Your replies from Point no 1 to 3 have nothing about inconsistent lot size trading.

Let us discuss on that.

Or just leave alone if you wish to.

Let us enjoy Saturday and sunday.

Intraday only.
  • #680,610
  • Sep 3, 2022 8:14am Sep 3, 2022 8:14am
Quoting eyefeelsix
{quote} then why do you do the same test ( 100k ) in the same prop firm ( mff ) if you don't blow it up/or break the rules on ( real ) before, that doesn't make sense to me you can see donfriday lot size ( 0.02 ) to catch tens/hundreds of pips, when he failed he tried to fix it with just a few pips with a big lot size ( 1.00 lot size or 50% mark up ) it's realy not healthy, he will repeat that way continuously, trading is not just for a week, month or year but forever. give them...


10yrs ago i actually trade 0.02 this one u saw was a mistake and i left it open

peace
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MY OPINION NOT FINANCIAL ADVISE
  • #680,611
  • Edited 8:29am Sep 3, 2022 8:17am | Edited 8:29am
Quoting donfriday
{quote} 10yrs ago i actually trade 0.02 this one u saw was a mistake and i left it open peace {image}
I find rare to be honest a person to discuss healthy.

Pointing out mistakes on others can not take anyone anywhere.

If you loose, it is your money. If you win it is yours.
Intraday only.
  • #680,612
  • Sep 3, 2022 8:17am Sep 3, 2022 8:17am
Quoting eyefeelsix
{quote} then why do you do the same test ( 100k ) in the same prop firm ( mff ) if you don't blow it up/or break the rules on ( real ) before, that doesn't make sense to me you can see donfriday lot size ( 0.02 ) to catch tens/hundreds of pips, when he failed he tried to fix it with just a few pips with a big lot size ( 1.00 lot size or 50% mark up ) it's realy not healthy, he will repeat that way continuously, trading is not just for a week, month or year but forever. give them a good educations, that doing challenges is not as easy as you give,...

read before u comment... that was prop firm account and my main account is IG and the lowest u can trade there is 0.10 on IG, with MFF why would i even trade 0.02
MY OPINION NOT FINANCIAL ADVISE
  • #680,613
  • Sep 3, 2022 8:22am Sep 3, 2022 8:22am
Quoting donfriday
my view for the week ahead {image}
no need to predict. Just read PA
How to succeed in zero sum game?
  • #680,614
  • Sep 3, 2022 8:23am Sep 3, 2022 8:23am
Quoting Yngwie
{quote} TP not reach 1486 but closed manually 1500
I reckon there might be a slight retrace to 1.155 area before continuing down.
  • #680,615
  • Sep 3, 2022 8:24am Sep 3, 2022 8:24am
ABOUT PHYCOLOGY TODAY IN A NEWS LETTER FROM FTMO PHSYCOLOGIST :

Has your psychology ever affected your trading plan?
In my opinion, psychology will have affected every trader in their journey. This is because as a beginner you are very emotional with your wins and losses which may lead to psychological mistakes such as revenge trading or FOMO. ( Fear Of Missing Out )
Intraday only.
  • #680,616
  • Sep 3, 2022 8:26am Sep 3, 2022 8:26am
Quoting dempire1
{quote} no need to predict. Just read PA

i cant be like you
MY OPINION NOT FINANCIAL ADVISE
  • #680,617
  • Sep 3, 2022 8:33am Sep 3, 2022 8:33am
Quoting navk
{quote} I find rare to be honest a person to discuss healthy. Pointing out mistakes on others can not take anyone longer. If you loose, it is your money. If you win it is yours.
he doesnt understand 5% daily dd work

assume i open 0.02 and lost 81$ that simply mean my dd is still full and i can still trade 1.00 if i wish cus that 0.02 i way to low compare to my account margin.
MY OPINION NOT FINANCIAL ADVISE
  • #680,618
  • Sep 3, 2022 8:34am Sep 3, 2022 8:34am
usd strength will continue for some time ; information taken from a top tier hedge fund catering to billions in assets
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  • #680,619
  • Sep 3, 2022 8:39am Sep 3, 2022 8:39am
Quoting donfriday
{quote} he doesnt understand 5% daily dd work assume i open 0.02 and lost 81$ that simply mean my dd is still full and i can still trade 1.00 if i wish cus that 0.02 i way to low compare to my account margin.
There are many here who are traders with own fund.

1k to 10k size.

In retail trading, very few follows risk management, they allow 50 % floating...and finally loose account altogether.

They will not understand 5 % loss limit.

This is the essence of trading whether prop trading or own funded trading.

RISK MANAGEMENT. THe percentage is upto individuals though. But one must have.
Intraday only.
  • #680,620
  • Sep 3, 2022 8:39am Sep 3, 2022 8:39am
Quoting donfriday
{quote} read before u comment... that was prop firm account and my main account is IG and the lowest u can trade there is 0.10 on IG, with MFF why would i even trade 0.02
trading is a habit what you do on IG or the next on mff it makes no difference.
https://breakpullback.com
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