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Cable Update (GBPUSD)

  • #696,261
  • Oct 14, 2022 1:25am Oct 14, 2022 1:25am
Up down 40 pips in 45 mins. Hmmm....
Would've entered but since I missed it, I'll just wait and see.
Exhausted
  • #696,262
  • Oct 14, 2022 1:26am Oct 14, 2022 1:26am
Quoting birdland
{quote} valuable info, thank you. so that also means that you need a long breath, so the leverage should be very low. what is your edge? only hedging or also market knowledge like price action?
Yea as I said $100,000 bank I would only trade $1 each trade, my edge, hedging, averaging out and most of all patience, having a big bank with small lots helps with this, no market knowledge no price action for me, all I concentrate on when I open that first trade is to get that trade into profit, not say saying you can't use your own system (although it does give you a bias), I'm in it for the money not being able to predict...
  • #696,263
  • Oct 14, 2022 1:26am Oct 14, 2022 1:26am
Quoting Indiara
Trying another Sell on GU {image}
I took an exit a few pips early again as the Pivot is still strong. +23 more for the account

Attached Image (click to enlarge)
Click to Enlarge Name: gu.jpg Size: 32 KB
I am neither brave nor stupid...I am just a part time trader
  • #696,264
  • Oct 14, 2022 1:28am Oct 14, 2022 1:28am
Quoting Elysion
{quote} Same I have the same problem, sometimes I expect too much and overstretched my tp areas. 30% of my losses are mainly due to this. Couldve just taken 15 pips and run but I wanted to wait for 20 pips ended up reversal in less than 5 mins.
I know the feeling!! The hard work of waiting for a great entry is wasted due to greed!! Is hard to fix this, but not impossible
I am neither brave nor stupid...I am just a part time trader
  • #696,265
  • Oct 14, 2022 1:28am Oct 14, 2022 1:28am
Quoting Indiara
{quote} I took an exit a few pips early again as the Pivot is still strong. +23 more for the account {image}
a drop below pivot would be great! It keeps testing bouncing off atm
Insane in the Brain..
  • #696,266
  • Oct 14, 2022 1:30am Oct 14, 2022 1:30am
Quoting navk
{quote} Have long reply for you. Will reply probably tomorrow asian session. Now, Frankfurt opened. Let us trade seriously.
No prob....just an observation.

In other news, this pair will range until an hour before the sales report and will go for the jugular after the consumer sentiment report. We'll see by then.
Lost....
  • #696,267
  • Oct 14, 2022 1:30am Oct 14, 2022 1:30am
Quoting BeeTogether
{quote} I don’t really use SLs unless I’m protecting a trade. The logic is simple great US data yesterday could lead to a higher rate rise which is stronger USD. No UK data , the potential u-turn in mini budget and also BoE stopping the bond buying adds to GBP uncertainty. Therefore overall GU should be going and definitely not going up like it did yesterday by over 250 pips
The BOE has already indicated that it probably isn't ending the bond buyback, but that is old news.
In the US PPI would have to shock to overcome the shock from the poor CPI where only 3% or CME respondents suggested concern about a 100 BPS increase. I don't believe there is any news out that would justify a spike but this is the FXMarket. It reacts to other things as well.
  • #696,268
  • Oct 14, 2022 1:30am Oct 14, 2022 1:30am
Quoting Elysion
Up down 40 pips in 45 mins. Hmmm.... Would've entered but since I missed it, I'll just wait and see.
I saw a quote a while ago, maybe even on this thread. 'Is better to be out & wishing in, than it is to be in & wishing out!'
I am neither brave nor stupid...I am just a part time trader
  • #696,269
  • Oct 14, 2022 1:31am Oct 14, 2022 1:31am
Quoting birdland
{quote} valuable info, thank you. so that also means that you need a long breath, so the leverage should be very low. what is your edge? only hedging or also market knowledge like price action?
....also by doing you will get to learn when and when not to open e.g opening time big news and if you are in a trade you can equal out and take off your TPs and SLs, it does work best in a ranging market
  • #696,270
  • Edited 1:44am Oct 14, 2022 1:32am | Edited 1:44am
Quoting vulcann1
{quote} I am curious ,how you plan your trades!?
She has already answered that. You seem interested in her strategy, so why don't you simply read all of her posts first, and when finished, if your questions are not answered, only then try a query.
To free Gazans of Hamas, use whatever it takes.
  • #696,271
  • Oct 14, 2022 1:36am Oct 14, 2022 1:36am
Quoting billytt
T 08-55 UK TIME. Cable 15 minute chart just copied. once price enters back into that 08-00 to 08-15 15 minute range. You can still trade the breakout again. my bias is still short. This can still fail. i am not trading it as i have already got my %%% . just saying. {image}t 08-57

something like this.
from below.
Attached Image (click to enlarge)
Click to Enlarge Name: gu D.png Size: 6 KB
to below.
Attached Image (click to enlarge)
Click to Enlarge Name: gu E.png Size: 4 KB
Like i said, it doesnt always go to plan, but if it fails you trade the other end.
Trade well all. i didnt trade this .
t 09-36
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #696,272
  • Oct 14, 2022 1:39am Oct 14, 2022 1:39am
Quoting Waveskierrob
{quote} Yea as I said $100,000 bank I would only trade $1 each trade, my edge, hedging, averaging out and most of all patience, having a big bank with small lots helps with this, no market knowledge no price action for me, all I concentrate on when I open that first trade is to get that trade into profit, not say saying you can't use your own system (although it does give you a bias), I'm in it for the money not being able to predict...
so i didn't expect this, very interesting insights. but it makes mathematical sense. be careful, all the forecasters must get on your nerves or amuse u

i will train myself to have no prejudice, no bias. hard after 13 years of intensive forex trading...

something else about the TP: +1 is approx. +0.3 for me after deducting the charges. should I rather take TP+2?
trading is like dancing, don't think and just listen to the music!
  • #696,273
  • Oct 14, 2022 1:41am Oct 14, 2022 1:41am
Quoting Pat Chiko
{quote} GU - Live Trade Only Wait for the price to come to you. The N3@DOP{image}
GU

First team N3 underwater.
Sending Second team to rescue....
Hope got luck....

Attached Image (click to enlarge)
Click to Enlarge Name: gu 158.jpg Size: 200 KB
I come from the future.
Karen X Mas Bonus 2025 All Time Profit: $15,104
  • #696,274
  • Oct 14, 2022 1:42am Oct 14, 2022 1:42am
Quoting Indiara
{quote} I know the feeling!! The hard work of waiting for a great entry is wasted due to greed!! Is hard to fix this, but not impossible
I have posted for several years that "10 pips is all you need".

Occasionally, I'll enter 2 orders, TP for one at 10 pips, then move SL of the 2nd order to BE when 10 pips reached. I check RSI to get an idea of how much a single bar is likely to move, and manually trail the SL accordingly.
To free Gazans of Hamas, use whatever it takes.
  • #696,275
  • Oct 14, 2022 1:45am Oct 14, 2022 1:45am
Quoting DrDave
{quote} I have posted for several years that "10 pips is all you need". Occasionally, I'll enter 2 orders, TP for one at 10 pips, then move SL of the 2nd order to BE when 10 pips reached. I check RSI to get an idea of how much a single bar is likely to move, and manually trail the SL accordingly.
An interesting strategy DrDave and you are correct, we don't need to make a zillion pips every day, just a few each day will soon add up
I am neither brave nor stupid...I am just a part time trader
  • #696,276
  • Oct 14, 2022 1:51am Oct 14, 2022 1:51am
Quoting birdland
{quote} so i didn't expect this, very interesting insights. but it makes mathematical sense. be careful, all the forecasters must get on your nerves or amuse u i will train myself to have no prejudice, no bias. hard after 13 years of intensive forex trading... something else about the TP: +1 is approx. +0.3 for me after deducting the charges. should I rather take TP+2?
This is why I don't use charts been brainwashed with chart patterns etc, not saying you can't use them, I prefer not to. TP again you can use whatever you want. you will find out with practice my TP is bigger on DJIA than SP500 as the it moves are bigger, also time of day if market isn't moving that much use a smaller TP, this is not set and forget, have to be constantly changing all the time
  • #696,277
  • Oct 14, 2022 1:54am Oct 14, 2022 1:54am
Quoting dantpm
{quote} The BOE has already indicated that it probably isn't ending the bond buyback, but that is old news. In the US PPI would have to shock to overcome the shock from the poor CPI where only 3% or CME respondents suggested concern about a 100 BPS increase. I don't believe there is any news out that would justify a spike but this is the FXMarket. It reacts to other things as well.
Consumer spending won't be a big increase as most people don't have money to spend. This could be a surprise lower number which would put a stop to the talk of a 100 pbs increase, at least for now.
  • #696,278
  • Oct 14, 2022 1:55am Oct 14, 2022 1:55am
Quoting gespiri
{quote} No prob....just an observation. In other news, this pair will range until an hour before the sales report and will go for the jugular after the consumer sentiment report. We'll see by then.
Yes, I expect resistance ( today high ) to hold.

NY short.

NY news always happened to be good for dollar.

Let us see.
Intraday only.
  • #696,279
  • Oct 14, 2022 2:00am Oct 14, 2022 2:00am
Quoting Pat Chiko
{quote} GU First team N3 underwater. Sending Second team to rescue.... Hope got luck.... {image}
Hhahahahahahaha, Sending Second team to rescue.... . I watch in movies as sometimes the second team gets stuck too... Lol but i hope your second team gets
powerful enough.

I like the psychology behind a losing trade, being able to laugh over it, to me is a good mental state
THE TRUTH IS SIMPLE,ACCEPTING THE SIMPLICITY OF THE TRUTH IS WHAT IS HARD
  • #696,280
  • Oct 14, 2022 2:03am Oct 14, 2022 2:03am
5 minute candlestick pattern starting to look like a falling wedge or converging lines.
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