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Cable Update (GBPUSD)

  • #705,341
  • Nov 9, 2022 2:48am Nov 9, 2022 2:48am
Quoting Indiara
I have GU Buy {image}
Not much follow through with this move, so I protect the trade so it's a free trade now

Attached Image (click to enlarge)
Click to Enlarge Name: gu.jpg Size: 43 KB
I am neither brave nor stupid...I am just a part time trader
  • #705,342
  • Nov 9, 2022 2:48am Nov 9, 2022 2:48am
Quoting Indiara
{quote} Thanks. I prefer to set a goal though as I have a long term plan which doesn't require me to hold trades for a n extended time. Just 20 pips is perfect for me and my long term plan. Of course all extra pips are gratefully accepted but in the short window that I can trade in, I like to try and gain my 20 pips and go to mt bed with all trades closed
hmm good practice i guess
i used to do 20pip stop loss and 20 pip tp when I first started in 2015
then i went crazy after giving up the TP part and giving up a lot of sleep

yea you are right if you want to sleep you have to get out quick
or you will be like me looking at chart 15 hrs a day
  • #705,343
  • Nov 9, 2022 2:49am Nov 9, 2022 2:49am
Quoting OragonFx
Bulls/Bears dont wanna give in {image}
Took liquidity from range low now taking liquidity from range high.
I believe it wants to go down,
More time in the market, does not mean you trade better!
  • #705,344
  • Nov 9, 2022 2:50am Nov 9, 2022 2:50am
Quoting birdland
{quote} your point of view is logical and easy to understand. but there is also the other point of view that you should work with TP. both points of view can lead to success, it depends on your personality what suits you and what does not.
yea i agree maybe it just works with my style
if you are making money you do you
it helped me make even more money that's why i want to share my thoughts on it

when i have a set profit then i start losing money in the long run
i take profit base on how the market react

maybe having TP up is a good way of not building bad habit of not closing trades
  • #705,345
  • Nov 9, 2022 2:52am Nov 9, 2022 2:52am
Quoting OragonFx
Bulls/Bears dont wanna give in {image}
Nice but USD index recovery might happen very fast and it could drop pound to 1
1.1490 in next few hours if not then 1.1630 might be good for sell.
Time will tell I am short 1.1560
Stop 1.1600
Target: 1.1490
Don't compare your Trades with Others
  • #705,346
  • Nov 9, 2022 2:53am Nov 9, 2022 2:53am
Quoting Indiara
{quote} Not much follow through with this move, so I protect the trade so it's a free trade now {image}
SL got eaten! Back to wait in the long grass for the next chance

Attached Image (click to enlarge)
Click to Enlarge Name: gu.jpg Size: 21 KB
I am neither brave nor stupid...I am just a part time trader
  • #705,347
  • Nov 9, 2022 2:54am Nov 9, 2022 2:54am
Quoting Fardeen1209
{quote} Took liquidity from range low now taking liquidity from range high. I believe it wants to go down,
It probably needs both up an down for a bigger move. Now which way is the bigger move?
  • #705,348
  • Nov 9, 2022 2:55am Nov 9, 2022 2:55am
Quoting TwFXtrader
{quote} yea i agree maybe it just works with my style if you are making money you do you it helped me make even more money that's why i want to share my thoughts on it when i have a set profit then i start losing money in the long run i take profit base on how the market react maybe having TP up is a good way of not building bad habit of not closing trades
Your 100,000%+ return reminds me those s̶h̶i̶t̶ alt coins i've invested. Thought it will be only there i see such ROI, now you prove me wrong
More time in the market, does not mean you trade better!
  • #705,349
  • Nov 9, 2022 2:56am Nov 9, 2022 2:56am
Quoting TwFXtrader
{quote} yea i agree maybe it just works with my style if you are making money you do you it helped me make even more money that's why i want to share my thoughts on it when i have a set profit then i start losing money in the long run i take profit base on how the market react maybe having TP up is a good way of not building bad habit of not closing trades
My plan will take the whole of next year to show it's worth, but if it works, it might be amazing. I only have about 7 hours to trade and I like my job, so I have to make time for my job and for trading.....and sleeping of course!
I am neither brave nor stupid...I am just a part time trader
  • #705,350
  • Nov 9, 2022 2:56am Nov 9, 2022 2:56am
Quoting DubaiFX
{quote} Nice but USD index recovery might happen very fast and it could drop pound to 1 1.1490 in next few hours if not then 1.1630 might be good for sell. Time will tell I am short 1.1560 Stop 1.1600 Target: 1.1490
It looks like the support will hold
That is not good news for Pound.
And Euro too.
For now I am short both pound and Eur.
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot_20221109-135513.png Size: 38 KB
Don't compare your Trades with Others
  • #705,351
  • Nov 9, 2022 2:57am Nov 9, 2022 2:57am
Hello traders,

It seems GBP is getting ready for a fresh jump to clear 1.1620/30 strong resistance.

Lets watch how things playing out .

Thanks
I always knew that someday I would make it big
  • #705,352
  • Nov 9, 2022 2:58am Nov 9, 2022 2:58am
Buy 1.1541 L 1.1525
Live trade ~ GBPUSD only. No chart! Follow at your own risk!
  • #705,353
  • Nov 9, 2022 3:00am Nov 9, 2022 3:00am
...still a bullish engulf of last 3 on 1hr, after the inverted hammer.
Trader with an Edge.
  • #705,354
  • Nov 9, 2022 3:02am Nov 9, 2022 3:02am
Morning all.

Entered long 11545 for 50 pips.
  • #705,355
  • Edited 3:15am Nov 9, 2022 3:02am | Edited 3:15am
Quoting dantpm
{quote} It probably needs both up an down for a bigger move. Now which way is the bigger move?
What i see from time to time, is the 2nd move is probably the right one(particularly when it failed for a clear breakout of the liquidity zone/level), cause the Smart money after trapping Retails (Note: By retails, it does not necessarily means us but also institutional traders, very good traders can be retail from time to time, especially when they get FOMO) they go on the opposite
It is not a holy grail but majority of the time the first move is a fakeout

We can see a clear example of the GU chart itself happened on Monday
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot (72).png Size: 52 KB
More time in the market, does not mean you trade better!
  • #705,356
  • Nov 9, 2022 3:03am Nov 9, 2022 3:03am
Quoting Indiara
{quote} My plan will take the whole of next year to show it's worth, but if it works, it might be amazing. I only have about 7 hours to trade and I like my job, so I have to make time for my job and for trading.....and sleeping of course!

it will be hard so be prepared
don't focus too much on the plan
so when you fail you won't get hurt by it
my plan was to make 1 million in first 3 years and i failed many many times
I don't know how many days I have cried just to get to this point
gl
  • #705,357
  • Nov 9, 2022 3:06am Nov 9, 2022 3:06am
Quoting DubaiFX
{quote} Nice but USD index recovery might happen very fast and it could drop pound to 1 1.1490 in next few hours if not then 1.1630 might be good for sell. Time will tell I am short 1.1560 Stop 1.1600 Target: 1.1490
1.1530 +30 pi0s I am out enough can't risk these days I will re enter it hits 1.1560 in next 30 minutes
Good luck
Don't compare your Trades with Others
  • #705,358
  • Nov 9, 2022 3:06am Nov 9, 2022 3:06am
Quoting TwFXtrader
{quote} it will be hard so be prepared don't focus too much on the plan so when you fail you won't get hurt by it my plan was to make 1 million in first 3 years and i failed many many times I don't know how many days I have cried just to get to this point gl
I think the secret is to not expect to make such a huge amount, then it will be easier to keep focused. As long as I can make my starting balance increase over the year, to anything better than I can get through any other investment, then I will win. No?
I am neither brave nor stupid...I am just a part time trader
  • #705,359
  • Edited 3:18am Nov 9, 2022 3:06am | Edited 3:18am
Quoting TwFXtrader
{quote} by the way, try not to have TP set up because you'll never know , sometimes a candle can move for hundreds of pips i have missed out on hundreds of thousands for having take profit setup ,try to close trades by moving stop loss like today i go to sleep have my stop loss up with no take profit i woke up and i'm up 500 pips, if i have take profit using TP i will only make 50 pips profit (this is a super important trick to make big profit) if i have tp to all my trades i will NEVER make this much money Huge difference all of my trades don't...
Hi, i am not saying this negatively but people are different.
I have deleted the £££ talk, no need for it.lol
Trade well.
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #705,360
  • Nov 9, 2022 3:07am Nov 9, 2022 3:07am
Attached Image (click to enlarge)
Click to Enlarge Name: screenshot.png Size: 65 KB

BP and E. 5' --- No follow-through..... Reversal ??? SL tight as shown ...

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