Cable Update (GBPUSD)

Quoting JayBag

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{quote} It's not better not to use stop. The trick is to average in trades bro. If I planned on using 1 full LOT, I'd simply break it down to small lots and just take 0.1 lot trades instead. Adding up on every dip till I reach my psyc level or the amount I am willing to risk in the first place. Another thing one could do is have multiple sub-accounts. If $100 is the capital, just open sub and push $5or$10 to a sub-account and attack with it at a time. I hope I am making any sense. Cheers

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Quoting JayBag

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{quote} It's not better not to use stop. The trick is to average in trades bro. If I planned on using 1 full LOT, I'd simply break it down to small lots and just take 0.1 lot trades instead. Adding up on every dip till I reach my psyc level or the amount I am willing to risk in the first place. Another thing one could do is have multiple sub-accounts. If $100 is the capital, just open sub and push $5or$10 to a sub-account and attack with it at a time. I hope I am making any sense. Cheers

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Quoting bilal1947

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{quote} Nice educational/informative post Thank you.

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Quoting JayBag

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{quote} Hey bro, Luckily this GU buy managed to get in line so I could further illustrate what I mean My initial entry was off-point. I averaged in as it dips using very tiny lots. I am lucky the trade is coming correct but imagine if I had placed a huge lot and SL just below my initial entry point. I would have blessed MM with cents I don't even have lol. Anyway, that's how I attack without SL. Protecting yourself is a MUST. We just have to find methods that work for us. I have posted the before and after of the same chart. Cheers {image} {image}...

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Quoting Wavegarrick

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{quote} I absolutely agree with your statement Justin. There is hardly ever a time that my first trade is my best trade. I always look to average in as apposed to the one trade that will be my trade come hell or high water. It always happens that I am able to close my worst trades and leave my best trades locked in, hence trading small and risk the same amount that I would like to trade with my first trade over a time span. A skill that comes with time. This is also beneficial if you want to close all your trades quickly at breakeven or a...

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Quoting BeeTogether

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Tempting to add a SL at my long open 11750 and let it ride. Or just take the profit and go again tomorrow. Lot of UK data tomorrow which can cause issues

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Quoting Wavegarrick

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{quote} Hi Guys, I am in with a little buy trade at 1.17342 which I could cut short. My weekly pivot at 1.16577 an attractive target to get into more buy trades, Have a great week, Cheers {image}

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