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Cable Update (GBPUSD)

  • #696,961
  • Edited 2:19pm Oct 16, 2022 12:18pm | Edited 2:19pm
Quoting TheWolf
What about news? Do news matter at all? I mean the correlation between the news and the price is almost none existant.. If it were, Pound would be a currency that the penguins would be using right now, right? No offense to anyone, Euro should also be in a trash can.. What about candles? Does the shape of the candle really matter? There are so many times that these candle patterns don't work at all. So what is left to us? Resistance and Support? Maybe? I mean few people are actually making money trading like that, and Daily open, close etc.. what...
What about news? Do news matter at all? I mean the correlation between the news and the price is almost none existant.

See what is said about it in The Socioeconomic Theory of Finance here.
To free Gazans of Hamas, use whatever it takes.
  • #696,962
  • Oct 16, 2022 12:19pm Oct 16, 2022 12:19pm
Quoting navk
{quote} There are ways of doing. Almost everyone knows your method works for you. But may be difficult for others to catch up...unless they learnt that art. My thread reply is simply based on price action for a particular day candle using sessions + Some EMA + Supdem indis to ascertain retrace levels.
navk, I tried to make a different point. It's virtually impossible that in a group of 100-150 traders no one thought differently. Even if you look at the sentiment, you notice that at least 38.2% have eyes on a different outcome.
Always trade your own plan...I don't provide trading signals.
  • #696,963
  • Edited 1:37pm Oct 16, 2022 1:05pm | Edited 1:37pm
______ you guys makin sume Real $$$ with cable = Just trade what you see$$$
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Don’t focus on making $$$, focus on protecting what you have.
  • #696,964
  • Oct 16, 2022 1:11pm Oct 16, 2022 1:11pm
Quoting TheWolf
Perhaps the best way is to use only 2% per trade and wait for the opportunity that you think is the most promising. A lot of people here are risking way more then they should on one trade. However, let's get real here!! I don't blame them!! If you don't have at least 20K on the account 2% is jackshit. Trading doesn't afford me coffee (not literally), let alone paying bills and living from trading alone. I know people want to earn a decent ammount of money fast so they can finally start trading for real and perhaps give themselves the opportunity...
As a rule of thumb, I only place the amount that I am comfortable with. I may not earn much but at least it teaches me one or two about my approach.

I'll dive in big time when I am very confident of may system.
"No trade is still a trade." - Peter Borish
  • #696,965
  • Oct 16, 2022 1:32pm Oct 16, 2022 1:32pm
Gold Short

Visual Pattern Recognition. Will catch retracement.

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POSTMASTER
  • #696,966
  • Oct 16, 2022 1:38pm Oct 16, 2022 1:38pm
Quoting Robinhood1
Short Visual pattern recognition {image}
I might have been mistaken on this one. No idea direction now. No worries. Will close or hedge, not that i overtraded this time but can spot tops and bottoms now. I just have to polish some aspects but i think i am very close to perfection. Cannot wait to see The Algo´reaction when it happens

1 min TF doctor.
POSTMASTER
  • #696,967
  • Oct 16, 2022 1:48pm Oct 16, 2022 1:48pm
Inserted Video
POSTMASTER
  • #696,968
  • Oct 16, 2022 1:54pm Oct 16, 2022 1:54pm
Quoting navk
{quote} unless you explain with chart, I can not understand. Your info Looks like fundamentals. For me, the fundaments will have to show impact in chart.
wrong information, wrong forum ; one year sector performance in India stock exchange ; helps choose sector leaders
  • #696,969
  • Oct 16, 2022 2:08pm Oct 16, 2022 2:08pm
Quoting Robinhood1
Gold Short Visual Pattern Recognition. Will catch retracement. {image}
__________ I've a few Real Live short$ on this over d wkEnd =
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Don’t focus on making $$$, focus on protecting what you have.
  • #696,970
  • Oct 16, 2022 2:23pm Oct 16, 2022 2:23pm
Quoting Robinhood1
{quote} I might have been mistaken on this one. No idea direction now. No worries. Will close or hedge, not that i overtraded this time but can spot tops and bottoms now. I just have to polish some aspects but i think i am very close to perfection. Cannot wait to see The Algo´reaction when it happens 1 min TF doctor.
1 min TF doctor.
To free Gazans of Hamas, use whatever it takes.
  • #696,971
  • Oct 16, 2022 2:59pm Oct 16, 2022 2:59pm
Weekend live trading prices on Ig.com:

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  • #696,972
  • Oct 16, 2022 3:02pm Oct 16, 2022 3:02pm
IG didn’t take my SL level and it’s gone over..
Insane in the Brain..
  • #696,973
  • Oct 16, 2022 3:13pm Oct 16, 2022 3:13pm
Quoting BeeTogether
IG didn’t take my SL level and it’s gone over..
It can happen when no orders are found near the SL level to offset your order. If your order is still open, then you're lucky that it wasn't closed with that big slippage.
To free Gazans of Hamas, use whatever it takes.
  • #696,974
  • Oct 16, 2022 3:28pm Oct 16, 2022 3:28pm
Quoting DrDave
{quote} It can happen when no orders are found near the SL level to offset your order. If your order is still open, then you're lucky that it wasn't closed with that big slippage.
unfortunately it was closed at 70 pips past my SL £338 down this week already grrrr
Insane in the Brain..
  • #696,975
  • Oct 16, 2022 3:31pm Oct 16, 2022 3:31pm
Quoting Moty
after gaining 2850 $ in 1 week and a half , i lost almost everything in 3 days , my total profit heads up to only 500 $
i have no idea if you are open to this but maybe it will help others:
Something is terribly wrong with your MM and RRR.

if your profit is 2850 in 8 days, your daily profit is about $ 356
if you lost 2350 of that profit in 3 days your daily loss is about $ 733

That gives a negative PL ratio of more than 2.
For every 1 $ you profit you are losing 2 $
Thats not sustainalble.
in wondering about yourself, you forgot what you came here to be part of
  • #696,976
  • Oct 16, 2022 3:34pm Oct 16, 2022 3:34pm
On Friday I lost the whole account because I went long against the trend,
now when I took a short for the weekend, just to spite , the price is back in a 83 pips gap up.
mf ,Let them go to hell, luckily it's only 0.04 lot, so it's only a $32 loss
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yes yes yes
  • #696,977
  • Oct 16, 2022 3:40pm Oct 16, 2022 3:40pm
GBPUSD price action on the daily time frame is in a technically bearish structure. However, presently, it is in a bullish corrective mode. Any further northward move would likely give way to a bearish turnaround. The 1.16420/1.14760 area (purple) is the prevailing horizontal resistance.

I may be wrong. Trade safe and prosper.

KP

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Do your homework, follow the footprints of smart money
  • #696,978
  • Oct 16, 2022 3:40pm Oct 16, 2022 3:40pm
Quoting Moty
On Friday I lost the whole account because I went long against the trend, now when I took a short for the weekend, just to spite , the price is back in a 83 pips gap up. mf ,Let them go to hell, luckily it's only 0.04 lot, so it's only a $32 loss {image}

Pre-market trading on GU is very thin and all over the map on EU. Dollar is supposed to be moving up with higher interest rate projections. Not sure that of the direction that GU will take yet.
  • #696,979
  • Oct 16, 2022 3:40pm Oct 16, 2022 3:40pm
Quoting Moty
On Friday I lost the whole account because I went long against the trend, now when I took a short for the weekend, just to spite , the price is back in a 83 pips gap up. mf ,Let them go to hell, luckily it's only 0.04 lot, so it's only a $32 loss {image}
Its only going up because BoE hinted an aggressive rate increase
Insane in the Brain..
  • #696,980
  • Oct 16, 2022 3:49pm Oct 16, 2022 3:49pm
Quoting BeeTogether
{quote} unfortunately it was closed at 70 pips past my SL £338 down this week already grrrr
Feel for you buddy, that's a shit start to the week ...
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