{quote} @Wavegarrick, What is your time frame for your buy and holds? Are you trading off the dailies or weeklies? Curious. How long do you typically hold a position? My record? Thursday until Monday. I'm USUALLY flat by NYE close but that's me...
Cable Update (GBPUSD)
- #702,523
- Nov 1, 2022 1:55pm Nov 1, 2022 1:55pm
- Joined Sep 2017 | Status: Trader | 4,367 Posts
{quote} @Wavegarrick, What is your time frame for your buy and holds? Are you trading off the dailies or weeklies? Curious. How long do you typically hold a position? My record? Thursday until Monday. I'm USUALLY flat by NYE close but that's me...
What is your time frame for your buy and holds?
How long do you typically hold a position?
I scalp in between to keep the kitty going.
Cheers.
Trade to trade another day
- #702,525
- Nov 1, 2022 2:12pm Nov 1, 2022 2:12pm
- Joined Jul 2007 | Status: Trader | 3,577 Posts
{quote} Hi Fxsport, {quote} Typically weekly, daily and 4 hr time frame in alignment. I deviate for short term trades. {quote} My longest posted live trades held here at Forex factory in the Cable update thread were in 2019 for 1000 to 3000 plus pips a trade, Trades took over a year to mature. I scalp in between to keep the kitty going. Cheers.
I WISH I had the patience to swing trade but in my mind, that what equities are for...
Thanks for your insight and contributions.
...because you never know - until you do!
- #702,526
- Nov 1, 2022 2:14pm Nov 1, 2022 2:14pm
- Joined Dec 2017 | Status: Trader | 30,688 Posts
yes yes yes
- #702,527
- Nov 1, 2022 2:24pm Nov 1, 2022 2:24pm
- Joined Jul 2007 | Status: Trader | 3,577 Posts
{quote} WAY TOO MUCH things going on at the moment. In the short term USD will be getting on train again, however that train will crash.
Firstly I agree with most of your post; you're right there is probably MORE going on now than in the past few years; that's what instable heads of countries results in...(Thanks Joe!) but I digress.
Right now all I'm focused on is DXY because frankly that is the ONLY driving factor in the currency markets AT THIS TIME!
People are desperate (actually the talking heads on TV) for the FED to pivot. What is PIVOT anyway?
These TV pundits actually believe that the FED will begin lowering interest rates in late 2023 - over 11 months away!
Let us go back 11 months to January 2022 - who would have predicted:
1. War in Ukraine
2. Longest bear market in 20 years (USA)
3. 4% interest rates being talked about as the "new norm"
4. China Covid lockdowns continuing
My POINT is we can't ACCURATELY predict month to month let alone years. So I "get" the big picture but when I open my computer to trade I check my fundaments at the door so as to not influence me (easier said than done)
Tomorrow the FED raises 0.75% - that a given. What happens at the conference will determine the course
Firstly we get to see the EU PMI readings all morning and if they are anything like today's number it will not be pretty.
If the FED stands firm (which I believe they will) look for DXY to re-test the 114 highs. Look at today candle! It's formed a heck of a HAMMER and when it comes down!
So right now I'm SHORT CABLE AND EURO (just tiny positions) because I won't be awake for the EU PMI readings I don't think DXY will move much but when the big boys trade it creates quick a downdraft.
...because you never know - until you do!
- #702,528
- Nov 1, 2022 2:29pm Nov 1, 2022 2:29pm
- Joined Dec 2017 | Status: Trader | 30,688 Posts
yes yes yes
- #702,529
- Nov 1, 2022 2:36pm Nov 1, 2022 2:36pm
- Joined May 2022 | Status: I'm Done | 2,577 Posts
{quote} {image}Like that? Click above to see what happens ...
DXY Yeah.. I forgot about it LoL..
Well, looking at EUR/USD Daily Chart it sure has more Bear signs than Bull..
Pound doin' better than Euro somehow..
- #702,530
- Nov 1, 2022 2:38pm Nov 1, 2022 2:38pm
- Joined Sep 2017 | Status: Trader | 4,367 Posts
{quote} That is impressive. I WISH I had the patience to swing trade but in my mind, that what equities are for...
A couple of years ago I set myself the challenge of trading the most volatile major currency pair, GbpUsd. It is not like the Euro, Aussie or Kiwi dollar which are my preferred trending currencies. Gu is a challenge and a scalpers paradise but it hones my trading skills;
Equities, well never delved into it,
Cheers
Trade to trade another day
- #702,532
- Nov 1, 2022 3:03pm Nov 1, 2022 3:03pm
- | Joined Nov 2019 | Status: Trader | 1,170 Posts
{image}
cheers
Uncertainty of the market must be embraced and accepted.
- #702,533
- Nov 1, 2022 3:36pm Nov 1, 2022 3:36pm
- Joined May 2017 | Status: Intermediate Trader | 6,435 Posts
Extreme gut feeling trader
- #702,534
- Nov 1, 2022 3:48pm Nov 1, 2022 3:48pm
- Joined May 2017 | Status: Intermediate Trader | 6,435 Posts
Holding some buy positions for asian session… aiming 1.15
Extreme gut feeling trader
- #702,535
- Nov 1, 2022 6:32pm Nov 1, 2022 6:32pm
- Joined Nov 2008 | Status: Trader | 50,243 Posts
{quote} FTSE100 Oct28 Friday Close - I'm delighted to see 7078 - next week is start of a new month Nov - and its Thanksgiving {image} {image}
FTSE100 Nov02 ~ No04
- with market confidence back hoping this will continue till Christmas
- short-term there is room to go higher 7261
...
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
- #702,536
- Nov 1, 2022 7:20pm Nov 1, 2022 7:20pm
- Joined May 2011 | Status: Balance sh*t | 2,062 Posts
Peace Yo!
- #702,537
- Nov 1, 2022 7:41pm Nov 1, 2022 7:41pm
- Joined May 2017 | Status: Intermediate Trader | 6,435 Posts
Holding some buy positions for asian session… aiming 1.15
Extreme gut feeling trader
- #702,538
- Edited 10:36pm Nov 1, 2022 8:10pm | Edited 10:36pm
- Joined Oct 2010 | Status: Trader | 21,486 Posts
Intraday only.
- #702,539
- Nov 1, 2022 8:24pm Nov 1, 2022 8:24pm
- Joined Aug 2008 | Status: Trader | 3,996 Posts
Live trade ~ GBPUSD only. No chart! Follow at your own risk!
- #702,540
- Nov 1, 2022 8:25pm Nov 1, 2022 8:25pm
- | Commercial User | Joined Jul 2021 | 3,280 Posts
GBPUSD LONG
TP 1.15774
TP 1.15774
My telegram: https://t.me/avidforex