Cable Update (GBPUSD)

Quoting billytt

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{quote} t 13-11 USA just opened. cable is consolidating on the 15 minute chart...whip i am waiting until 08-00 am tomorrow, uk time

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Quoting TheWolf

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{quote} ...this is where blue line comes in play. On Weekly Chart it's too far unfortunately, but it's very useful on lower TF's. {image}

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Quoting TheWolf

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Trying Long.. Around Support.. {image}

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Quoting Pat Chiko

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UJ Going for minor correction.{image}

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Quoting Indiara

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{quote} I think I am finished for the day too. I don't see any reliable entry just now and I have to be disciplined to not make silly entry and spoil a nice day I will still be here for a while though, the coffee pot is not empty yet

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Quoting Pat Chiko

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Wisdom from an old spice trader at market place The same energy required in trading a small account is same energy required in trading a big account. That’s why we say test your consistency first with a small account If you’re productive, then trade a big account. It’s just that the big account requires more discipline and control. As you’re trading bigger size, you’ll be much more careful and disciplined. You’ll also have more capital and profit at risk. So, you’ll have higher level of stress. But, the energy required is the same.

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Quoting billytt

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{quote} in my humble opinion, it is too late in the day to trade consistently. I can only speak for myself ... lol. I like to see the daily range start at zero and then progress. i do this mainly for if/when i have a fail.

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Quoting Indiara

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{quote} I think I am finished for the day too. I don't see any reliable entry just now and I have to be disciplined to not make silly entry and spoil a nice day I will still be here for a while though, the coffee pot is not empty yet

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Quoting Indiara

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{quote} I think that you are correct there billytt. I don't know what market is like when London goes to sleep because I have never seen it. But there is nothing on offer now except coffee and guitar!

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Quoting TheWolf

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{quote} Haha {image}

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Quoting billytt

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{quote} which music do you like to play?

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Quoting Indiara

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{quote} I think so too. We know that FX trading is not a 'get rick quick' thing, but if it is viewed as a high return (and high risk of course) investment, then it makes most other investment schemes look silly. For most of us who do not have lots and lots of money, putting out money in the bank is just a waste of time because the returns are a joke. Especially when compared to what banks loan out money out at! Eeeek....I'm getting off track here! So if we see the banks as not viable to make money, but FZ trading IS viable, then to minimise risk...

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Quoting redcat3003

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#GU M1 {image}

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Quoting Pat Chiko

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{quote} Hey The Wolf.... Nice chart and set up. Good luck for correction trades, need to be fast and ready to pull trigger if she goes the opposite side. P/S What do you have for lunch. Just asking, I hope not raw..

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Quoting DrDave

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{quote} Yes, 25 pips a day is manageable, and adding contracts as profits accumulate can produce an exponential (maybe just geometric, I didn't actually check) equity growth curve. I posted several years ago, "10 pips a day is all you need". Do your spreadsheet and you can check various scenarios for when to increase lot size vs time to achieve X% profit. Run it out for even just 5 years and you will like the annual increase.

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Quoting Indiara

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{quote} I like to play soul, rhythm and blues, blues, ballads.....I would like to play slide but I have to learn that.

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Quoting Indiara

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{quote} Yes, it must be possible. Even if it is split over 2 trades of 13 and 12 pips, for example. There will be days like today where I made +62, and better traders made 100 or more, which will offset days of no pips, or recovering from giving pips to the market. If at the end of the month the average daily profit is 25 pips, it would work. Even 20 pips would do, or less. It would just make the 1 year nest egg slightly less. I can work spreadsheets (in a basic form), I will try this out and see how the theory side would add up.

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Quoting Indiara

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{quote} I'll have to get my little brain working in spreadsheet mode!! I think I can do if I spend some time sorting out the parameters and formulas. Sounds like I know what I'm doing, but I really don't!! I'll figure it out though

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