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Cable Update (GBPUSD)

Quoting dantpm
{quote} Are you referring to RSI moving averages or candlestick moving averages? I entered the 8, 32 and 50 on the chart that I referenced. 8 results in entries that are not profitable, 32 doesn't make a difference that is noticeable and 50 cuts off profitable trades. The numbers you are proposing might be applicable to candlesticks but not with the RSI.
Maybe these Vlines on RSI MAs crossing can help you to see some possibilities.
solid green: greenXyellow up moving from near 30 level
solid red: greenXyellow down moving from near 70 level
solid white: yellow >50 level and greenXyellow up for continuation buy
dotted yellow: yellowX50 level
dotted green: redX50 level up
dotted red: redX50 level down
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The markets are speaking to you. Do you know their language? I M T
Quoting SnailFX
{quote} So, it basically doesn't matter what you are doing as long as the risk management is good. I don't know what to say about the video.. You have 50% chance R or S will hold and you get a winning trade. With good money management, it's very possible this kind of trading is profitable. Distance between S and R is sometimes 3X or 4X your SL below S or above the R. Meaning you have to be right 1/3 or 1/4 times and every time you have 50% chance of winning the trade. Math is HEAVILY on your side. Thought-provoking. He says he's an idiot and average...
50% chance ....that would be crazy ...
Soon To Be Temporarily Suspended Again
Quoting Waveskierrob
{quote} 50% chance ....that would be crazy ...
It either holds or not no? Hahah, I will try this anyway!
I have to try this now.
Trades For Next Week:

Testing R and S strategy!
These 4 trades.
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Quoting SnailFX
{quote} So, it basically doesn't matter what you are doing as long as the risk management is good. I don't know what to say about the video.. You have 50% chance R or S will hold and you get a winning trade. With good money management, it's very possible this kind of trading is profitable. Distance between S and R is sometimes 3X or 4X your SL below S or above the R. Meaning you have to be right 1/3 or 1/4 times and every time you have 50% chance of winning the trade. Math is HEAVILY on your side. Thought-provoking. He says he's an idiot and average...
basically doesn't matter what you are doing as long as the risk management is good.
Yes, he said that. He said more than once that "this happens 50% of the time", where this referred to different things at different points in the video.
He also stated that it is the management of the trade that is important.

1. I would use a demo account initially, because as you saw, if you followed the hedging method, you run the risk of a margin call.
2. I would look at H1, H2, and H4.
3. On the demo, I would likely just try to take entries in whichever direction is appropriate and then after a lot of trades, check to see how filtering by trend following would affect the results.
The markets are speaking to you. Do you know their language? I M T
Quoting SnailFX
{quote} It either holds or not no? Hahah, I will try this anyway! I have to try this now.
Was just joking, been trading 50/50 for years now, many real time trades I've posted on my thread ...
Soon To Be Temporarily Suspended Again
Quoting DrDave
{quote} I have no rules, W-H-A-T?? RULE #1: I trade how I want. RULE #2: I trade what I want. RULE #3: I trade when I want. RULE #4: I trade for as long as I want Yet another rules-based trader . . .
Lets face it from this post you wanted a fight, so please finish it and answer my last question or you can cop out of this fight and just give this post a ""
Soon To Be Temporarily Suspended Again
Quoting Waveskierrob
{quote} Was just joking, been trading 50/50 for years now, many real time trades I've posted on my thread ...
Khm..

My irony meter is off today..
Sorry! Haha..

It seems memory also..
Quoting DrDave
{quote} basically doesn't matter what you are doing as long as the risk management is good. Yes, he said that. He said more than once that "this happens 50% of the time", where this referred to different things at different points in the video. He also stated that it is the management of the trade that is important. 1. I would use a demo account initially, because as you saw, if you followed the hedging method, you run the risk of a margin call. 2. I would look at H1, H2, and H4. 3. On the demo, I would likely just try to take entries in whichever...
Thanks!

I am not hedging though. Pure SL and TP method, no hedging.
As simple as possible, like I'm totally stupid. Negative IQ!

Don't have H2 and TF's like that. Trying H1, Two H4's and Daily.
Quoting SnailFX
{quote} Thanks! I am not hedging though. Pure SL and TP method, no hedging. As simple as possible, like I'm totally stupid. Negative IQ!
I don't hedge all the time but it's a tool I may use if I think I'll need it, just do what you want to do...
Soon To Be Temporarily Suspended Again
Quoting Waveskierrob
{quote} I don't hedge all the time but it's a tool I may use if I think I'll need it, just do what you want to do...
You know how to do this stuff. Whenever I tried it, I just made the situation even worse hahah. I'll leave this to professionals like you!..
Quoting SnailFX
{quote} You know how to do this stuff. Whenever I tried it, I just made the situation even worse hahah. I'll leave this to professionals like you!..
It's only "patience" but if don't like it do use it, there's no rule ...
Soon To Be Temporarily Suspended Again
Quoting SnailFX
Trades For Next Week: Testing R and S strategy! These 4 trades. {image} {image} {image} {image}
this could be fun.
i might try it too.

SO where would you place your Invalidation Hedge or StopLoss?

im not clear yet on the youtube video guys placement.
Is it based on R:R? or is it kind of random ?
in wondering about yourself, you forgot what you came here to be part of
Quoting Georginson
{quote} 1.1885 to 1.1800... probably next week.

Hello sir
How are you?
It's a very good call for sell entry If you don't mind can you tell which position we decide for sell entry and one more another question before when they candle market drop 1.1995 and then below 1.1957 that time you call now target 1.2550 or 1.2600 this month, so now what did you think this position can we see that's your previous calling target in this month or invalid that for this month.
Thank you very much.
Quoting fxmasterdxb
{quote} the way i see it, Monday will be bullish, Tuesday some bullish and rest sideways and from Wednesday evening the bears should start attacking, lets see
Im not that talented to know this kind of stuff
Be kind, the money will follow
Quoting DrDave
How a complete idiot makes money trading Froex! MUST WATCH.
like it, but he is everything beside an idiot.
He is a man with a plan, and he know the plan well enough.
Be kind, the money will follow
Quoting Whale
{quote} like it, but he is everything beside an idiot. He is a man with a plan, and he know the plan well enough.
Whale, yeah, he tries to sell himself short but he has great knowledge and experience. I watched his other videos and suspect he might have more than 7 years of experience. He gives many ideas on how to approach day trading. I like it b/c I do many of the things he suggests.
Always trade your own plan...I don't provide trading signals.
GBP/USD cumulative delta price volume for all timeframes from m1-d1 timeframe on one broker:
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Quoting knkie
{quote} this could be fun. i might try it too. SO where would you place your Invalidation Hedge or StopLoss? im not clear yet on the youtube video guys placement. Is it based on R:R? or is it kind of random ?
As said, no hedging. Just simple SL stuff.

Yeah, concering SL, well you put it little above the spikes, maybe 10 pips, 15 pips above highest spikes or lowest. Than if SL is 40 pips, you can make your TP 80 or 120. Depends..

Probably go for 80 pips.

So, in practice.

You have 1000$

Let's say SL is always 2% (40 Pips)
TP is 4% (80 Pips)

Depends on the pair, but that's why higher TF should be good enough, almost any pair on higher TF has moves above 80 pips like H4 or Daily.

Now..

10/10 Trades = +40%
9/10 Trades = +34%
8/10 Trades = +28%
7/10 Trades = +22%
6/10 Trades = +16%
5/10 Trades = +10%
4/10 Trades = +4%
3/10 Trades = -2% Not Good

So, basically, pips don't matter, the percentage you risk does. It doesn't make sense putting TP also 2%. Putting it at 4% gives you a better edge, over 4% is a little too much in my opinion. But, I don't know.. you can try playing with it (the math).

So, you need to be winning 4 out of 10 trades to consistently keep making profits. If you ask me, 4/10 isn't impossible hahah.
I think this is how you do it, but perhaps someone else has something to add or say something different, we'll see.
Quoting trumps
Got a good daily range to work with here. I find weekends provide some clarity for the week ahead. Bullish daily today, but will be surprised if it goes too far past this resistance before resuming down into the 1.18's - 1.17's Have a great weekend {image} {image}
The monthly range appears broader down to the 1650 region off 1.23 area resistance.
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Compulsions can be hard to resist
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