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Cable Update (GBPUSD)

  • #689,021
  • Sep 28, 2022 7:15am Sep 28, 2022 7:15am
Goods Trade Balance (Aug) data in 15 minutes...
  • #689,022
  • Sep 28, 2022 7:15am Sep 28, 2022 7:15am
Quoting Headland
{quote} Notwithstanding slippage, the reason a spike like that can '... damage the account of a retail trader...' as you put it, is because they are over-leveraged. We know why that is - most retail traders have limited margin so need to over-leverage to make the activity worthwhile re cash generation and/or they have leveraged up to take advantage of the volatility when actually you should leverage down. But whatever the case, the spike up (before the drop) was over a full 2mins - look at 1min below. and the drop before the bounce was 2mins + Plenty...
Stop is good option.

Any retail trader uses stops ?

We have seen so many blown their account on Friday itself.

Even some regulars here are missing for the last 2 days.

My suggestion would be :

-Trade pairs which has usual ADR.

-Use stops.

- Trade GU only when the pair stabilizes to normal ADR from danger
Intraday only.
  • #689,023
  • Sep 28, 2022 7:17am Sep 28, 2022 7:17am
Quoting ForexGoose
{quote} bought from 1.056, stop loss under 1.05, target is 1.08 maybe
this trade might work for me today if the bulls don’t bull$hit
don't believe in mumbo jumbo from gurus & charlatans, don't pay them money
  • #689,024
  • Sep 28, 2022 7:19am Sep 28, 2022 7:19am
...23.6% of the drop reached @ current p/back hi

1hr below
Attached Image (click to enlarge)
Click to Enlarge Name: screenshot.png Size: 15 KB
Trader with an Edge.
  • #689,025
  • Sep 28, 2022 7:19am Sep 28, 2022 7:19am
Quoting navk
{quote} Stop is good option. Any retail trader uses stops ? We have seen so many blown their account on Friday itself. Even some regulars here are missing for the last 2 days. My suggestion would be : -Trade pairs which has usual ADR. -Use stops. - Trade GU only when the pair stabilizes to normal ADR from danger
retail traders should have a bigger account balance and use lower leverage, maximum of 1:10

they should also use a stop loss and not trade too frequently to gamble

men also like to revenge trade because of testosterone, which is why women are likely to be better traders
don't believe in mumbo jumbo from gurus & charlatans, don't pay them money
  • #689,026
  • Sep 28, 2022 7:23am Sep 28, 2022 7:23am
...
Attached Image (click to enlarge)
Click to Enlarge Name: screenshot.png Size: 2 KB
Trader with an Edge.
  • #689,027
  • Sep 28, 2022 7:24am Sep 28, 2022 7:24am
Quoting navk
see here. From the PA, i can see the price can take out previous low b4 bounce. What happened few hrs ago? A spike. This can easily damage an account of a retail trader {image}
_____________ and still sume demo MF's sayin that fx_tradin ist easeee , tabarnak
Don’t focus on making $$$, focus on protecting what you have.
  • #689,028
  • Sep 28, 2022 7:25am Sep 28, 2022 7:25am
Quoting Headland
... {image}
May I have this ADR indicator?
WARNING: This post warps space and time in its vicinity.
  • #689,029
  • Sep 28, 2022 7:25am Sep 28, 2022 7:25am
GBPUSD M15
Every thing is good but market behavior is not tradeable, stay safe till cyclone calm down.
Attached Image (click to enlarge)
Click to Enlarge Name: GBPUSD M15.jpg Size: 188 KB

Thank You.
$
Newbie
  • #689,030
  • Sep 28, 2022 7:26am Sep 28, 2022 7:26am
Quoting ForexGoose
{quote} retail traders should have a bigger account balance and use lower leverage, maximum of 1:10 they should also use a stop loss and not trade too frequently to gamble men also like to revenge trade because of testosterone, which is why women are likely to be better traders
Agree with lines 1 and 3 sorry but don't use SL and have on average 50 trades all the time....each to their own...
  • #689,031
  • Sep 28, 2022 7:30am Sep 28, 2022 7:30am
Quoting WizardTrade
{quote} May I have this ADR indicator?
attached below.
Attached File(s)
File Type: ex4 rangefinder.ex4   19 KB | 230 downloads
File Type: mq4 rangefinder.mq4   17 KB | 310 downloads
Trader with an Edge.
  • #689,032
  • Sep 28, 2022 7:31am Sep 28, 2022 7:31am
Quoting profits7
{quote} _____________ and still sume demo MF's sayin that fx_tradin ist easeee , tabarnak
Trading is easier once a trader :

- uses stops.

- Quit trading for the day when some percentage is made.
Intraday only.
  • #689,033
  • Sep 28, 2022 7:31am Sep 28, 2022 7:31am
Quoting Headland
{quote} attached below. {file} {file}
Thanks friend.
WARNING: This post warps space and time in its vicinity.
  • #689,034
  • Sep 28, 2022 7:36am Sep 28, 2022 7:36am
__________ here a quote from another demo MF = Success is simple. Do what's right, the right way, at the right time.
Don’t focus on making $$$, focus on protecting what you have.
  • #689,035
  • Sep 28, 2022 7:39am Sep 28, 2022 7:39am
...seen a lot of these recently...wasn't sure about the potential supp @ current dly lo although I had reversal set-ups on 1min - 15min, so waited for the 30min close to make sure. (ie whole reversal candle closed outside 20bol.)

EDIT: 38.2% of the drop now exceeded at current p/back hi
Attached Image (click to enlarge)
Click to Enlarge Name: screenshot.png Size: 5 KB
Trader with an Edge.
  • #689,036
  • Sep 28, 2022 7:39am Sep 28, 2022 7:39am
Quoting Waveskierrob
{quote} Agree with lines 1 and 3 sorry but don't use SL and have on average 50 trades all the time....each to their own...
Always have exit strategy in mind if not the SL
WARNING: This post warps space and time in its vicinity.
  • #689,037
  • Sep 28, 2022 7:41am Sep 28, 2022 7:41am
Did anyone lose an account today?
WARNING: This post warps space and time in its vicinity.
  • #689,038
  • Sep 28, 2022 7:42am Sep 28, 2022 7:42am
Quoting Headland
...seen a lot of these recently...wasn't sure about the potential supp @ current dly lo although I had reversal set-ups on 1min - 15min, so waited for the 30min close to make sure. (ie whole reversal candle closed outside 20bol.) EDIT: 38.2% of the drop now exceeded at current p/back hi {image}
Market is granting enough opportunities to the people who are caught either side of the choppiness. It takes mindfulness to exit at the next best price.
WARNING: This post warps space and time in its vicinity.
  • #689,039
  • Sep 28, 2022 7:43am Sep 28, 2022 7:43am
Quoting ForexGoose
{quote} maybe, the bulls will last a few more hours until the bears are released from the barn
I dropped back into my habit of trading what I think. I'm just going to trail it, but I do think things have changed, but at the end of the day..... The market is always right!!!
Don't trade what you think. Just what you see!!!
  • #689,040
  • Sep 28, 2022 7:44am Sep 28, 2022 7:44am
Quoting WizardTrade
Did anyone lose an account today?
All finished on friday.

No more left.

Some regulars missing already
Intraday only.
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