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Cable Update (GBPUSD)

  • #683,541
  • Edited 6:47am Sep 14, 2022 6:36am | Edited 6:47am
Pound is currently bullish against every currency.
It is weird however, I rarely witness USD going up against CAD, but falling against Pound and Euro.

If anyone is perhaps trading USDCAD, the price is currently at the resistance. Triple top perhaps in play.
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  • #683,542
  • Sep 14, 2022 6:36am Sep 14, 2022 6:36am
Quoting 3xtazzy
Welp, should have closed the trade earlier, I'm too greedy to close the trade...
Profit is profit no matter how big or small
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  • #683,543
  • Sep 14, 2022 6:38am Sep 14, 2022 6:38am
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yes yes yes
  • #683,544
  • Sep 14, 2022 6:44am Sep 14, 2022 6:44am
Quoting TheWolf
{quote} We'll see.. Yes they tried very hard to discourage market from shorting Yen, but they were not successful. Only a tiny bit, if even that. Let's see if they change their monetary policy first, if not, I am expecting an intervention very soon after. The thing is, if they do intervene, it brings with it additional power of uncertainty to the market, will they intervene again? So perhaps one good intervention could help save Yen in the long run and instill some fear into the market the next time they think about shorting Yen.

Yes, we will have to see. Already I am discouraged from buy UJ, I like sell only just in case BOJ goes crazy!!
I am neither brave nor stupid...I am just a part time trader
  • #683,545
  • Sep 14, 2022 6:44am Sep 14, 2022 6:44am
Quoting OBsayMkMoney
{quote} Your MSC? Might I inquire.. does that mean the same in your country? Is that a Tech degree?
Yes, same thing. Master of Science degree.
  • #683,546
  • Sep 14, 2022 6:44am Sep 14, 2022 6:44am
Quoting TheWolf
Pound is currently bullish against every currency. It is weird however, I rarely witness USD going up against CAD, but falling against Pound and Euro. If anyone is perhaps trading USDCAD, the price is currently at the resistance. Triple top perhaps in play.
imo it is bearish
y's candle is a dark cloud for at least 1.4000 again
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yes yes yes
  • #683,547
  • Sep 14, 2022 6:49am Sep 14, 2022 6:49am
Took small, short on this at 1.1545 see what I can get before news
Don't trade what you think. Just what you see!!!
  • #683,548
  • Sep 14, 2022 6:49am Sep 14, 2022 6:49am
Quoting Waveskierrob
SHORT again 1.1560 no tp no sl
Closed SHORT 1.1535 +25
  • #683,549
  • Sep 14, 2022 6:50am Sep 14, 2022 6:50am
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yes yes yes
  • #683,550
  • Sep 14, 2022 6:52am Sep 14, 2022 6:52am
Quoting Moty
{quote} imo it is bearish y's candle is a dark cloud for at least 1.4000 again {image}
Of course this can all shift.. I am quite satisfied for now with this short trade. The more it drags like this, as Navk stated, the more it is likely it will turn the other way.
  • #683,551
  • Sep 14, 2022 6:53am Sep 14, 2022 6:53am
Quoting Waveskierrob
{quote} Closed SHORT 1.1535 +25
LoL. Is that 200 pips by now? GJ!!
  • #683,552
  • Sep 14, 2022 6:55am Sep 14, 2022 6:55am
Add long target 1.16000 @mid bb h4...
we can short later if it not break with target 1.1414.lowest sar daily..
but if h4 can close above 1.1600..bullish will start with target 1.2000
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  • #683,553
  • Sep 14, 2022 6:56am Sep 14, 2022 6:56am
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yes yes yes
  • #683,554
  • Sep 14, 2022 6:56am Sep 14, 2022 6:56am
Quoting Fardeen1209
{quote} I think this is exactly how the Institution position themselves. They break it down and hid their Buy orders in red candles and sell orders in green candles. Regards, Fardeen
Prelim : I just go to the important point at this moment. Will expand the discussion, as we are nearing to News event trading.



The orignal concept of my trading are based on hedging.
But not in pure form ,as I’ve modified it to my risk/rewards and styles.
In most of my trades I don’t use hedging techniques.
Sometimes, the system used are similar with what I think it's really the only way to be really successful without losing that much.

If we use the strategy right, we shouldn't really lose if you think about it.
We are doing the same thing that the big commercial traders do, which is called "circular trading."

A few big guys raise the market, & next session the next big commercial traders will come in & buy those positions.
These guys really can't lose & their profits are all off our backs.
To be smart, we need to trade like them.
Swing style with hedging is doing the same thing here.

If a trade goes against our orignal position, then have hedge about 40-60 pips below that will get triggered.
They will double the amount of lots on hedge position so that in order to make up the gap you only need it to go 20-30 pips into their hedge.
Once you "define" a reversal point & market heads towards your original position, cut the hedge & now we can employ another tactic called "double backing."
You can hedge long with gaining much more profit & once you get close to your original long position, you can either cut your orignal position or cut the (long) hedge & let it ride north for even more profit.

So you see, Professional Hedging traders is a smart money management method.
NOTE : There is a trader in this thread use hedging.

If used correctly, it can be used very successfully.
I would reccomend that to get a lot of experience using this method because it can also be somewhat dangerous if you don't know what the hell you are doing.

The key is "defining" where the reversal points are & market direction.
This is pivotal when knowing where to place a hedge & when to cut your hedge position.

So if applied correctly , hedging ( or some form of modification to it) has the ability to greatly reduce losses .
Instead of a stop loss , hedge the position .

Obviously this will not work as well in a trending market or if the prices are at historically high or low levels.
Avoid placing the order around pivots.
Perhaps place them just beyond support/resistance levels.
After all you want the pair to come around sooner rather than later.

This really appeals to me. We hate losses!
There will be times when a stop loss will be inevitable , but if you are able to sit at your computer and monitor the situation ,with some patience and no doubt practice , losses could and should be greatly reduced.

Hope this helps out a little....

PAT
I come from the future.
Karen X Mas Bonus 2025 All Time Profit: $15,104
  • #683,555
  • Sep 14, 2022 6:57am Sep 14, 2022 6:57am
Quoting TheWolf
{quote} LoL. Is that 200 pips by now? GJ!!
not quite, just 100 so far today
  • #683,556
  • Sep 14, 2022 6:59am Sep 14, 2022 6:59am
Quoting Mitiblotch
{quote} Yes, same thing. Master of Science degree.
What degree?
Don't trade what you think. Just what you see!!!
  • #683,557
  • Sep 14, 2022 7:01am Sep 14, 2022 7:01am
We're ranging until news i guess. No trend, the moving averages are getting flat.
Exhausted
  • #683,558
  • Sep 14, 2022 7:05am Sep 14, 2022 7:05am
Quoting Waveskierrob
{quote} not quite, just 100 so far today
Oh... "just" 100.. then whatever..


I thought we were being serious here, 100...lame.
  • #683,559
  • Sep 14, 2022 7:08am Sep 14, 2022 7:08am
Quoting TheWolf
{quote} Oh... "just" 100.. then whatever..
...sorry post did sound big headed, didn't mean it to be, my intentions is to show that you don't need to predict a direction to make money just good MM and a lot of patience which all comes with time
  • #683,560
  • Sep 14, 2022 7:10am Sep 14, 2022 7:10am
Quoting Waveskierrob
{quote} ...sorry post did sound big headed, didn't mean it to be, my intentions is to show that you don't need to predict a direction to make money just good MM and a lot of patience which all comes with time
You know I'm just screwing around buddy hahaha
LoL not at all!

Keep robbing those banks!!
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