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Cable Update (GBPUSD)

  • #725,241
  • Feb 1, 2023 10:10am Feb 1, 2023 10:10am
Another follow-up to my GBPJPY and USDJPY trades. Previously, here.

Closed three more positions: 2 on GBPJPY and 1 on USDJPY, bringing active trades on each pair, down to 4 and 1.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: USDJPYH4+20230201+1558.png Size: 7 KB
Click to Enlarge Name: GBPJPYH1+20230201+1558.png Size: 8 KB
Click to Enlarge Name: PL18_2023-02-01_JPY.png Size: 6 KB
  • #725,242
  • Feb 1, 2023 10:12am Feb 1, 2023 10:12am
Quoting maxi444
{quote} yes but I won't be rich in EG trading
FF traders donīt get rich. Sorry to disagree. Its more likely to be the other way no matter which pair is traded. Traders who know how to trade can trade any pair. What is surprising to find so many just stuck to cable. Cheers buddy
POSTMASTER
  • #725,243
  • Feb 1, 2023 10:13am Feb 1, 2023 10:13am
Quoting Wavegarrick
{quote} Hi Iddd, I take it, you fall in the group of naked traders {image}A quick little story from the school of hard knocks
Hey. Thanks for your great reply. So you sound like having a plan and not just cluttering a chart to expect some magic to happen.

Not sure which group I fall in. I like clean/simple but still haven’t found any real plan for myself. It‘s an absolute jungle and I feel lost in the void.

Information overload, yeah…
  • #725,244
  • Feb 1, 2023 10:16am Feb 1, 2023 10:16am
Quoting ninabobo
{quote} TP hit +85p UJ done for today. waiting for FOMC FOMC Price action preview!: {image}
If I recalled correctly this happened during the previous FOMC isn't it?
Spiked up when Powell starts speaking then spiked down. I was in the trade and shit goes wild. (I forgot about the FOMC)
Exhausted
  • #725,245
  • Feb 1, 2023 10:17am Feb 1, 2023 10:17am
Quoting Robinhood1
{quote} FF traders donīt get rich. Sorry to disagree. Its more likely to be the other way no matter which pair is traded. Traders who know how to trade can trade any pair. What is surprising to find so many just stuck to cable. Cheers buddy
If you are good at one thing and it will serve to achieve what you are looking for, why doing more? Greed? Too much time?

Seen a Messi suddenly start playing Tennis?
  • #725,246
  • Edited 7:16pm Feb 1, 2023 10:18am | Edited 7:16pm
Quoting DrDave
{quote} Of course every pair that includes USD is affected by the strength of USD. But you've oversimplified it by neglecting to include the strength of the other currency in each pair. Look at GBPUSD and EURUSD this week. Look at M15 and H1 and see how many times they were moving in opposite directions, TELLING you to trade EURGBP because EUR was kicking USD's ass.
Just now my usdjpy shorts and eurusd buys have benefited from the USD weakness. My point stops there. I never said the charts look exactly the same. All I said was USD strength and weakness will be felt across all pairs that have USD. I didn’t mention the other pair because it was never needed to get my point across. To be quite honest with you dave, I remember you and never liked you. You just don’t understand the big picture and probably never will because of how toxic you are. I also know you are a scammer. I’m ignoring you now
Master your mind. Master Trading.
  • #725,247
  • Feb 1, 2023 10:19am Feb 1, 2023 10:19am
Quoting Robinhood1
Swing trading. Target 1.3900. Major bottom 1.3287 {image}
Why buy there? I understand the previous entries but not the succeeding ones.
Attached Image (click to enlarge)
Click to Enlarge Name: screenshot.png Size: 24 KB
The market hides a perfect geometry.
  • #725,248
  • Feb 1, 2023 10:20am Feb 1, 2023 10:20am
Long 1.6310 SL 1.6290
Live trade ~ GBPUSD only. No chart! Follow at your own risk!
  • #725,249
  • Feb 1, 2023 10:20am Feb 1, 2023 10:20am
Quoting Moty
bulls trap {image}
The price is inside of a triangle H4. It's can be a trap for the bears too. Be careful with the cheaters.

Attached Image (click to enlarge)
Click to Enlarge Name: palpite.png Size: 7 KB
Together we can be strongest
Vantage Return This Month: -97.0%
  • #725,250
  • Feb 1, 2023 10:21am Feb 1, 2023 10:21am
Quoting lddd
{quote} If you are good at one thing and it will serve to achieve what you are looking for, why doing more? Greed? Too much time? Seen a Messi suddenly start playing Tennis?
Your strategy must fit anywhere when circumstances allow. You cannot catch cable at all movements. Messi cannot play under any coachīs tactic.
POSTMASTER
  • #725,251
  • Feb 1, 2023 10:21am Feb 1, 2023 10:21am
Quoting cchin
Another follow-up to my GBPJPY and USDJPY trades. Previously, here. Closed three more positions: 2 on GBPJPY and 1 on USDJPY, bringing active trades on each pair, down to 4 and 1. {image} {image} {image}
These are QUITE good profits with this lot size. Nice!
  • #725,252
  • Feb 1, 2023 10:22am Feb 1, 2023 10:22am
Quoting Yngwie
Long 1.6310 SL 1.6290
Which pair?
  • #725,253
  • Feb 1, 2023 10:22am Feb 1, 2023 10:22am
Quoting W0lfram
What is the minimum lower wick even when candle is bullish. For Feb and all months? Fun trade short @1.2335
close +24
Air force
  • #725,254
  • Feb 1, 2023 10:23am Feb 1, 2023 10:23am
Quoting FulMargnAlch
{quote} Why buy there? I understand the previous entries but not the succeeding ones.{image}
Because did not think would doble bottom but retrace. It does not matter, target 1.3900
POSTMASTER
  • #725,255
  • Feb 1, 2023 10:23am Feb 1, 2023 10:23am
Quoting DrDave
{quote}That is a naive approach, similar to running your engine on 1 cylinder rather than using all 6 cylinders: You can get to your destination both ways, but it will likely not be as smooth or efficient on 1 cylinder as on 6.
sorry, I cannot compare an engine with forex, maybe I need more experience
  • #725,256
  • Feb 1, 2023 10:24am Feb 1, 2023 10:24am
Quoting Robinhood1
{quote} FF traders donīt get rich. Sorry to disagree. Its more likely to be the other way no matter which pair is traded. Traders who know how to trade can trade any pair. What is surprising to find so many just stuck to cable. Cheers buddy
What is surprising to find so many just stuck to cable.
To free Gazans of Hamas, use whatever it takes.
  • #725,257
  • Feb 1, 2023 10:24am Feb 1, 2023 10:24am
My mind telling me to buy, but my chart doesn't
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot_20230201_232333.jpg Size: 871 KB
10000% Wannabe . -$3000 & -$4000
Gold Recovery All Time Profit: -$3,961
  • #725,258
  • Feb 1, 2023 10:25am Feb 1, 2023 10:25am
Quoting Robinhood1
{quote} FF traders donīt get rich. Sorry to disagree. Its more likely to be the other way no matter which pair is traded. Traders who know how to trade can trade any pair. What is surprising to find so many just stuck to cable. Cheers buddy
I think this forum is to blame for more and more people trading GBP/USD hahah. Good community, what can you do..?
It doesn't help some of the best traders on forex factory are in a majority hanging here on GBP/USD.

I was thinking about changing the pairs I trade, however the reason why I'm sticking with GBP/USD is because it has USD (currency with the most ammount of news) and it provides necessary volume for good trading and it's more volatile than EUR/USD (not ranging as often as EUR/USD). Lower spread is another thing, especially if scalping, won't scalp CHF/JPY which takes 7 pips on the entry for example..

AUD, NZD, CAD, CHF I just don't trade. When they need to be active they're not and when they are, well Pound is also.

Just my thought process of course. May be wrong, may be right but that's how I trade.
  • #725,259
  • Feb 1, 2023 10:25am Feb 1, 2023 10:25am
Quoting FulMargnAlch
{quote} Why buy there? I understand the previous entries but not the succeeding ones.{image}
Next time will not be fooled by AI. I will fool AI.
POSTMASTER
  • #725,260
  • Feb 1, 2023 10:26am Feb 1, 2023 10:26am
Quoting SnailFX
{quote} These are QUITE good profits with this lot size. Nice!
Note how long he held the pairs for.
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