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Cable Update (GBPUSD)

  • #722,781
  • Jan 24, 2023 3:03am Jan 24, 2023 3:03am
Quoting Indiara
{quote} Well excuse me. I was just trying to find an answer to my question. I didn't mean to offend or upset anyone and I do not have any ulterior motive. Sorry to have upset you.
Let's use the current GU as a real - time example.

Price is currently at 1.2392

I want to sell from 1.2435

You question is "why not buy NOW (at 1.2392) and hold it until 1.2435?"

I won't buy here because price is in the "middle of nowhere"

I can buy at 1.2351 where I expect buyers to be waiting but I will not buy at 1.2392 (middle of nowhere).

Remember, if you sit on the fence, you stand the risk of being hit from both sides
  • #722,782
  • Jan 24, 2023 3:05am Jan 24, 2023 3:05am
Quoting Robinhood1
{quote} You did not get upset me, no sorries needed. If i cannot participate in your impossing upon the peopleīs discussion i wonīt as now the discussion turns toward my atitud not the issue. Have a nice week
I did not "impose" upon anyone, I simply asked a question because I do not understand how someone can determine that they will Sell at an above level, but not trade up to that level. You brought into question whether I am a girl or a guy, and you question whether I am using my own strategy or not and that I should not worry about another persons state....which I do not, and have not.

You are not a very nice person so I will say good by to you.
I am neither brave nor stupid...I am just a part time trader
  • #722,783
  • Jan 24, 2023 3:07am Jan 24, 2023 3:07am
Quoting Robinhood1
{quote} Kept Locked by AI {image}
This is my other account which AI locks my price more acurately. I could predict 100 % accurate price bouncing off my price the opposite way every trade and i donīt

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POSTMASTER
  • #722,784
  • Jan 24, 2023 3:07am Jan 24, 2023 3:07am
Cable is pissing me off , too much dithering not enough energy to break support and resistance areas.
Insane in the Brain..
  • #722,785
  • Edited 3:19am Jan 24, 2023 3:07am | Edited 3:19am
Quoting Indiara
{quote} I often thingk something like this too Yelena. If someone is going Sell when price reaches a pre-determined price, then why not Buy it until it gets there? Why wait and watch it get there and not make money on the way up to the chosen level? There must be a reason, but I can not see it
I guess you will have an unfavourable entry and too many spike will occur till the way to your level of interest, thus have greater probability of being stopped out.

So, my view is a trader must buy/sell only where his/her system tell to buy or sell at a particular level; cause at his/her level of interest, the trader will comfortably risk 10% of his capital to get 25% in 50pips than running after the price and felt pain because he missed 90pips and had no alert to buy at a favorable price which he get stopped out 3 times and lose 15% of his capital (assuming 5% risk per trade trying to catch the 90pips)

My view will obviously differs from many traders' here, this is why no trading plan will be the same if compared. Every trading plan will be unique.

In fact, it is something which i learned from you is the patience to wait in the long grass and wait for price to come to you.
I only wrote which worked for me to get me a consistent winning strategy while keeping my losses small, many others will have different views and everyone is right in the end, cause everything worked but just not all the time.
More time in the market, does not mean you trade better!
  • #722,786
  • Jan 24, 2023 3:07am Jan 24, 2023 3:07am
Quoting pipcenturion
{quote} Let's use the current GU as a real - time example. Price is currently at 1.2392 I want to sell from 1.2435 You question is "why not buy NOW (at 1.2392) and hold it until 1.2435?" I won't buy here because price is in the "middle of nowhere" I can buy at 1.2351 where I expect buyers to be waiting but I will not buy at 1.2392 (middle of nowhere). Remember, if you sit on the fence, you stand the risk of being hit from both sides
Thank you, that makes sense to me
I am neither brave nor stupid...I am just a part time trader
  • #722,787
  • Jan 24, 2023 3:08am Jan 24, 2023 3:08am
sentiment volumes
GBP/USD
62.83% short
37.17% long
  • #722,788
  • Jan 24, 2023 3:09am Jan 24, 2023 3:09am
Quoting Indiara
{quote} I did not "impose" upon anyone, I simply asked a question because I do not understand how someone can determine that they will Sell at an above level, but not trade up to that level. You brought into question whether I am a girl or a guy, and you question whether I am using my own strategy or not and that I should not worry about another persons state....which I do not, and have not. You are not a very nice person so I will say good by to you.
And i knew from the begging who you were and got confirmation today. Good bye to you too.
POSTMASTER
  • #722,789
  • Jan 24, 2023 3:12am Jan 24, 2023 3:12am
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yes yes yes
  • #722,790
  • Jan 24, 2023 3:13am Jan 24, 2023 3:13am
Quoting Fardeen1209
{quote} I guess you will have an unfavourable entry and too many spike will occur till the way to your level of interest, thus have greater probability of being stopped out. So, my view is a trader must buy/sell only where his/her system tell to buy or sell at a particular level; cause at his/her level of interest, the trader will comfortably risk 10% of his capital to get 25% in 50pips than running after the price and felt pain because he missed 90pips and had no alert to buy at a favorable price which he get stopped out 3 times and lose 15% of...
Yes, I understand now, thank you helping me get that into my head!! I always wondered about traders waiting for a level 50, 60, 70 or more pips above (or below) in order to Sell (or Buy) at that level, but not trade it on the way to that level. I was just curious and I am not the only one! But I see the logic in what you and pipcenturian are saying
I am neither brave nor stupid...I am just a part time trader
  • #722,791
  • Jan 24, 2023 3:17am Jan 24, 2023 3:17am
Quoting Indiara
{quote} Yes, I understand now, thank you helping me get that into my head!! I always wondered about traders waiting for a level 50, 60, 70 or more pips above (or below) in order to Sell (or Buy) at that level, but not trade it on the way to that level. I was just curious and I am not the only one! But I see the logic in what you and pipcenturian are saying
Our main objective is capital preservation anything wrongly did, we run high risk to be out of the game real quick
More time in the market, does not mean you trade better!
  • #722,792
  • Jan 24, 2023 3:19am Jan 24, 2023 3:19am
Quoting Robinhood1
{quote} And i knew from the begging who you were and got confirmation today. Good bye to you too.
With all due respect, 90% of your response was completely irreverent to the question that was posed. I walk wide circles around anyone who questions the gender of fellow trader, because what does that have anything to do with trading? If you incapable of making a constructive contribution to the forum then maybe you should consider not posting here.

Thank you
Guy
  • #722,793
  • Jan 24, 2023 3:20am Jan 24, 2023 3:20am
Quoting Fardeen1209
{quote} Our main objective is capital preservation anything wrongly did, we run high risk to be out of the game
This is my objective too
I am neither brave nor stupid...I am just a part time trader
  • #722,794
  • Jan 24, 2023 3:21am Jan 24, 2023 3:21am
Quoting Indiara
{quote} Yes, I understand now, thank you helping me get that into my head!! I always wondered about traders waiting for a level 50, 60, 70 or more pips above (or below) in order to Sell (or Buy) at that level, but not trade it on the way to that level. I was just curious and I am not the only one! But I see the logic in what you and pipcenturian are saying
I have big case of FoMo and have on many occasions found my self entering at the wrong time and suffering!!be strong young Padawan
Insane in the Brain..
  • #722,795
  • Jan 24, 2023 3:23am Jan 24, 2023 3:23am
I haven't seen a post from PAT CHIKO today.

I hope he is okay.

PAT, please post for us. You have been such a great inspiration to me.
  • #722,796
  • Jan 24, 2023 3:29am Jan 24, 2023 3:29am
Quoting pipcenturion
I haven't seen a post from PAT CHIKO today. I hope he is okay. PAT, please post for us. You have been such a great inspiration to me.
Pat is my market direction confirmation
Every time saw his entry, and mine are in the same direction, i feel more confident.
If our entry are different, ik its time to delete everything on the chart and try to redo the whole analysis to see what he saw and i missed.

He is an excellent reference to refer to
More time in the market, does not mean you trade better!
  • #722,797
  • Jan 24, 2023 3:32am Jan 24, 2023 3:32am
This Week is Interesting in its Own Way..

Longer-Term Forecast: We appreciate that the current risk-on sentiment is damaging to the dollar, hence the investment managers in the latest BoA survey being seriously underweight US names and increasingly interested in European ones, Ukraine war be damned.
But the old adage “the market is never wrong” is true only in the context of your decision-making. If you “fight the tape,” you will lose. But that is not the same thing as the market is never wrong. The market is wrong plenty of times. Remember the Tech Wreck.
This time the market has massive bets on the Fed doing 25 bp twice and then halting, with rate cuts starting before year-end. We do not understand the arithmetic of most of these bets, but the CME FedWatch tool shows 55.4% expect the outcome at the Dec 13, 2023 FOMC to be the same 4.25-4.5% as today or lower. This means whatever hikes we get next week and at the March or June meetings will be fully reversed and further cuts are possible.
This flies in the face of the Feds saying repeatedly the terminal rate will be 5% and rates will be higher for longer. The Fed had had to change course before, but barring some weird Event from left field, we have no reason to doubt it today except the forecasts of recession and real recession driving the Fed to chicken out.
And yet the Atlanta Fed update on Friday has Q4 GDP at the same 3.5% as before. GDP growth does not pair well with ideas of recession, PMI’s and regional Fed surveys notwithstanding. We get the official Q4 this week (Jan 26), with the consensus at 2.6% and the Trading Economics forecast at 2.7%. Down from 3.2% in Q3 but still not a hint of upcoming recession.
So, logically, the Fed skeptics should start changing their minds and sometime soon. If so, that restores the desirability of longer-term carry-trades. If not, and we go get a recession, the damage spreads globally and the fear trade kicks in-- and the safe-haven dollar benefits. The dollar wins either way. This is sometimes named “the dollar smile” for reasons that escape us.

In addition, let’s say the Ukraine war, especially in the absence of the arms and tanks being begged for, persists into the late summer and fall, when Europeans will again need to buy and store vast amounts of oil and nagas. We can say it again: the US is self-sufficient in energy and food.
The Economist has a cute final note on the dollar: “… the best argument that the dollar will strengthen is investors’ conviction that it won’t. In Bank of America’s recent survey of fund manager, a near-record proportion thought that the greenback would weaken.” The Bloomberg survey concurs and sees the dollar down against every other major currency this year and after that, too.
Here’s the problem: nobody knows when or for what reason this tide will turn. But turn it will. In all likelihood.
Note about the Debt Ceiling: First of all, Yellen & Co are smarter than McCarthy & Co. As an economist, she probably lacks the criminal mindset that would devise a really clever work-around, but still—smarter than the opposition. If you bet on Yellen, don’t worry about the stock market.
If you think Yellen will lose and the radial Plubs win, that means default. Sell everything. Go to cash. Maybe some hard assets like gems. Not real estate—plenty will not be able to keep up mortgage payments and have to sell.
Then there is the legal/Constitutional thing. It’s easy enough to look up: the Fourteenth Amendment, Section 4 says “The validity of the public debt of the United States, authorized by law, including debts incurred for payment of pensions and bounties for services in suppressing insurrection or rebellion, shall not be questioned.” The rest of the section has to do with the end of slavery, but never mind—the first part clearly disallows the House “questioning” the validity of the debt.
We’d like to ask a lawyer: Maybe we need a Supreme Court ruling saying the debt ceiling is itself un-Constitutional. If that is not feasible, how about the Court denying Congress’s ability to question budgets it has already passed? That seems self-evident but subtlety was never these guys’ strong suit. And finally, as mentioned on Friday. How about the Court doing something (what?) about the individuals violating their oath to the Constitution?

Welcome to Weird: Brazil and Argentina are meeting to talk about issuing a common currency to be named “sur.” They will invite other countries in the region to join. One intent is to reduce or eliminate dependence on the US dollar. Reports, including the FT’s, are delivered with a straight face. We will no doubt come back to this but for starters, we can say there has seldom ever been a worse idea. Has Brazil seen a chart of the Argentine currency? Not that its own is any prize.

.
“The stupid neither forgive nor forget; the naive forgive and forget; the wise forgive but do not forget.” — Thomas Stephen
Don't compare your Trades with Others
  • #722,798
  • Edited 3:46am Jan 24, 2023 3:32am | Edited 3:46am
Mensa sh together what ever EMP...
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  • #722,799
  • Jan 24, 2023 3:33am Jan 24, 2023 3:33am
Quoting Pat Chiko
{quote} GU Stopped out Another try scalp short.{image}


GU

Twice stopped out on yesterday trade.
Recovery trade at LO.
Taking back my money
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I come from the future.
Karen X Mas Bonus 2025 All Time Profit: $15,104
  • #722,800
  • Jan 24, 2023 3:35am Jan 24, 2023 3:35am
Quoting Fardeen1209
{quote} Pat is my market direction confirmation Every time saw his entry, and mine are in the same direction, i feel more confident. If our entry are different, ik its time to delete everything on the chart and try to redo the whole analysis to see what he saw and i missed. He is an excellent reference to refer to
Nice set up, but last night was a bit in hurry taking the trade
I must reduce weekend party and Chinese New Year party.....
My head hurts........

Analysis is on going as long as the chart moves.
Just keep tab on S&R level when price appoach them
I come from the future.
Karen X Mas Bonus 2025 All Time Profit: $15,104
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