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Cable Update (GBPUSD)

  • #696,761
  • Oct 15, 2022 8:37am Oct 15, 2022 8:37am
Some people are attention seekers. I will ignore all those for sure
WARNING: This post warps space and time in its vicinity.
  • #696,762
  • Oct 15, 2022 8:41am Oct 15, 2022 8:41am
Quoting WizardTrade
Some people are attention seekers. I will ignore all those for sure
Yes, running out of trading arguments. I wont bother you anymore but be sure of what you say "no one listens to your recommendations" as you are speaking in the name of others. I dont give a beer "damm" about what others do btw. But please control your afirmations. bye for now.
POSTMASTER
  • #696,763
  • Oct 15, 2022 8:44am Oct 15, 2022 8:44am
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POSTMASTER
  • #696,764
  • Oct 15, 2022 8:52am Oct 15, 2022 8:52am
For the member who cannot stop giving likes

fluoxetinea (Prozac)
POSTMASTER
  • #696,765
  • Oct 15, 2022 8:54am Oct 15, 2022 8:54am
Inserted Video
  • #696,766
  • Oct 15, 2022 9:14am Oct 15, 2022 9:14am
Quoting Robinhood1
{quote} Tell me brother, which way is cable going on monday: up, down or no comment My projection is up
My simple opinion on GU:
We are in correction mode which I don't think is complete.
I may be wrong.
Have a good trading week!
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  • #696,767
  • Oct 15, 2022 9:44am Oct 15, 2022 9:44am
Bailey: Flying Blind
Awesome news for Pound!

LoL
  • #696,768
  • Oct 15, 2022 10:21am Oct 15, 2022 10:21am
Bailey: "Interest rates will have to be raised higher than initially hoped in the face of inflationary pressures, the Bank of England governor has suggested.

The BoE is due to announce its next decision on interest rates, which will impact household mortgages, on 3 November and many investors think it will either raise them from their current level of 2.25% to 3% or possibly 3.25%, both of which would be much bigger moves than usual."
  • #696,769
  • Edited 10:45am Oct 15, 2022 10:26am | Edited 10:45am
Quoting wodzu
Bailey: "Interest rates will have to be raised higher than initially hoped in the face of inflationary pressures, the Bank of England governor has suggested. The BoE is due to announce its next decision on interest rates, which will impact household mortgages, on 3 November and many investors think it will either raise them from their current level of 2.25% to 3% or possibly 3.25%, both of which would be much bigger moves than usual."
They will make the choice which is right? You might say and that is?
The choice of having no choice perhaps.
  • #696,770
  • Oct 15, 2022 10:31am Oct 15, 2022 10:31am
Inflation is projected to be at 11%. Few months earlier it was projected to be at 13% if memory serves me right.
  • #696,771
  • Oct 15, 2022 11:01am Oct 15, 2022 11:01am
Quoting DamDori
{quote} What was the result, Pat? (Excellent money management!!!)
I wish you the best on that rescue!!!

In reply to DamDori,

Hola DamDori, disculpe por la respuesta tardía, ya que viajaba hacia el este el viernes por la noche, donde la moneda se vuelve más barata todos los días.
(Hello DamDori, apologize for late reply, as I was travelling to the east late Friday where the currency is becoming cheaper everyday.).. almost 24 hours late...lol

Managed to rescue some, but this is, like plan “B”, taking evasive actions to minimised losses.
Getting out in bad situation with few broken bones, but still can walk….

It is profound devising our own trading rules is that when a trade fails you can work out exactly what you did wrong and try to find ways getting out of the bad trades. Recently, I’ve open for other members in this forum for discussion on that topic on this link.

Going one step ahead, I’m thinking to start a new thread on this subject further.
Trying to find a suitable title to go with it.
Thinking of the following Thread Title :
“ How to minimised losses on bad trades”
“Surviving Underwater Trades”
“Operation Rescue, when it goes wrong”
“Escaping Underwater Order in Trading”
"Houdini method escaping underwater"

Always keep in mind, the moment you realise you’re on the wrong side of the trade, you got to get out quickly ….many ways of getting out of this mess. (like either stop out, averaging up, hedging, and the worse thing to do is to HOPE ( that’s in NO NO to trading).
Chart below is the rescue trade on Friday. Some losses, but trying to minimse damage impact.
Attached Image (click to enlarge)
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The most important point of getting out bad trade is :
1) You’re free from pressure, and hope to recover the bad trades. Thus, when your mind is free, you can make better judgement in taking the next trades ( I’ve written on the subject in one of my thread)
2) You margin/leverage are not tied to those bad trades, unable to take any new trade, even you see “chart are screaming at you”(pun intended) buy or sell set up.
3) With no pressure and free margin , you can trade your plan again as “mindset” now has clear vision of those set up.
This is trades taken (scalping, in/out trades) , after I've closed the bad trades, while filling up the 7 hours flight time to Tokyo on Friday night.
Attached Image (click to enlarge)
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The point is, never afraid to take losses. Keep it small, and come back later to get it back, smartly. ( get some coffee or go for smoke to break)

BTW, Friday market was erratic caused by Kwarteng, and market just not sure how to react to that news and unable to determine, it’s good or bad decision made by Liz Truss. May take till Monday for market to digest the implication and the trust on PM Liz.

Next week , should be interesting to see what market reaction to UK PM Liz.
If market loss confidence with Liz, GBP will be start diving. It’s getting more interesting to trade GBP.
Cuídate y todo lo mejor mi amigo

PAT Chiko
I come from the future.
Karen X Mas Bonus 2025 All Time Profit: $15,104
  • #696,772
  • Oct 15, 2022 11:38am Oct 15, 2022 11:38am
Bailey’s talk has helped the weekend pound trading, up over 30 pips. Have added a tight SL on my short readdress on Monday
Insane in the Brain..
  • #696,773
  • Oct 15, 2022 11:39am Oct 15, 2022 11:39am
Quoting Pat Chiko
{quote} In reply to DamDori, Hola DamDori, disculpe por la respuesta tardía, ya que viajaba hacia el este el viernes por la noche, donde la moneda se vuelve más barata todos los días. (Hello DamDori, apologize for late reply, as I was travelling to the east late Friday where the currency is becoming cheaper everyday.).. almost 24 hours late...lol Managed to rescue some, but this is, like plan “B”, taking evasive actions to minimised losses. Getting out in bad situation with few broken bones, but still can walk…. It is profound devising...
This is my favourite ......."Houdini method escaping underwater"...
  • #696,774
  • Oct 15, 2022 11:59am Oct 15, 2022 11:59am
Quoting Waveskierrob
{quote} This is my favourite ......."Houdini method escaping underwater"...
I'm not sure can dive that long, as Houdini ended up dead underwater.
Maybe I will try David Blaine underwater styles ( just beat Kwarteng time)
Attached Image (click to enlarge)
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I come from the future.
Karen X Mas Bonus 2025 All Time Profit: $15,104
  • #696,775
  • Oct 15, 2022 12:05pm Oct 15, 2022 12:05pm
Quoting Pat Chiko
{quote} I'm not sure can dive that long, as Houdini ended up dead underwater. Maybe I will try David Blaine underwater styles ( just beat Kwarteng time){image}
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  • #696,776
  • Oct 15, 2022 12:05pm Oct 15, 2022 12:05pm
Quoting BeeTogether
Bailey’s talk has helped the weekend pound trading, up over 30 pips. Have added a tight SL on my short readdress on Monday
I want to write, but no good englis....
So I post photo.... Hope eveyr bodies here understood..... loser

Attached Image (click to enlarge)
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GU prepare parachute............
I come from the future.
Karen X Mas Bonus 2025 All Time Profit: $15,104
  • #696,777
  • Oct 15, 2022 12:12pm Oct 15, 2022 12:12pm
Quoting Pat Chiko
{quote} I want to write, but no good englis.... So I post photo.... Hope eveyr bodies here understood..... loser {image} GU prepare parachute............
Higher start and then a big drop
Insane in the Brain..
  • #696,778
  • Oct 15, 2022 12:14pm Oct 15, 2022 12:14pm
Quoting WizardTrade
{quote} I don't spend my brain on useless things like couple of red badgers waste here All the shit which comes after this post will not be replied to especially from the Nostradamus
Hey Ranger.... hope you're having fun weekends.

Don't be too hard on those who only seem to post "whatsoever", as he's either forgotten to take medication, of taking wrong colour pills.
It's human nature to not show his weak side and thus vulnerabilities to the competition.
Law of survival and all.
Takes time for folks to mature beyond this.
Some never will.

Therefore, don't waste your finger pressing those keyboard. There's better use for finger, like.... picking up nose, scathing arm pits or whaever you wish for....
I come from the future.
Karen X Mas Bonus 2025 All Time Profit: $15,104
  • #696,779
  • Oct 15, 2022 12:29pm Oct 15, 2022 12:29pm
Quoting Pat Chiko
{quote} I'm not sure can dive that long, as Houdini ended up dead underwater. Maybe I will try David Blaine underwater styles ( just beat Kwarteng time){image}
We are spoilt of choice, Hunt proposed some tax cuts, Nov in a few weeks. Happy landing...
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  • #696,780
  • Oct 15, 2022 12:32pm Oct 15, 2022 12:32pm
Quoting BeeTogether
{quote} Higher start and then a big drop
Jeremy Hunt first assignment is.............
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UK don't have any reserve left, no gold( sold by Gordon Brown), deficit economy, have to buy Gas from USA.
Thus I predict that a Labour Government will move UK closer to the EU, possibly as far as applying to join the Single Market, but rejoining won’t happen during their first term in office.

Britain - unique in the trade shock that it’s facing.
Unique.
No other country has made such strategically disastrous choices.
First blame Brexit, then blame Covid, then blame Putin....
I come from the future.
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