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Cable Update (GBPUSD)

  • #730,161
  • Feb 18, 2023 12:15pm Feb 18, 2023 12:15pm
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..
  • #730,162
  • Feb 18, 2023 12:16pm Feb 18, 2023 12:16pm
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.
  • #730,163
  • Feb 18, 2023 12:20pm Feb 18, 2023 12:20pm
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...
  • #730,164
  • Feb 18, 2023 12:22pm Feb 18, 2023 12:22pm
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!..
  • #730,165
  • Feb 18, 2023 12:26pm Feb 18, 2023 12:26pm
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 ...
  • #730,166
  • Feb 18, 2023 12:35pm Feb 18, 2023 12:35pm
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
  • #730,167
  • Edited 2:02pm Feb 18, 2023 12:53pm | Edited 2:02pm
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.
  • #730,168
  • Feb 18, 2023 1:05pm Feb 18, 2023 1:05pm
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
  • #730,169
  • Feb 18, 2023 1:34pm Feb 18, 2023 1:34pm
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.
  • #730,170
  • Feb 18, 2023 1:51pm Feb 18, 2023 1:51pm
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.
  • #730,171
  • Feb 18, 2023 2:04pm Feb 18, 2023 2:04pm
GBP/USD cumulative delta price volume for all timeframes from m1-d1 timeframe on one broker:
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  • #730,172
  • Feb 18, 2023 3:02pm Feb 18, 2023 3:02pm
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.
  • #730,173
  • Feb 18, 2023 3:07pm Feb 18, 2023 3:07pm
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
  • #730,174
  • Feb 18, 2023 3:11pm Feb 18, 2023 3:11pm
the currencies are losing strength which means the USD will be gaining strength!!!
  • #730,175
  • Feb 18, 2023 3:13pm Feb 18, 2023 3:13pm
Quoting ninner
the currencies are losing strength which means the USD will be gaining strength!!!
Very smart looking at the monthly since the banks do that as well and we want to trade same as they are!!!
  • #730,176
  • Feb 18, 2023 3:15pm Feb 18, 2023 3:15pm
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! Don't have H2 and TF's like that. Trying H1, Two H4's and Daily.
Also, note he talked about account size. Initially said $10k, then said to split it into $1k amounts and risk $200. Although he pointed out that means 20% of the $1k account, he should have also noted that this is a mere 2% of the $10k account. So if the entire $10k is available to put into an account, it could be traded as if it were the $1k account with no worries about a margin call.
To free Gazans of Hamas, use whatever it takes.
  • #730,177
  • Feb 18, 2023 3:40pm Feb 18, 2023 3:40pm
Quoting SnailFX
{quote} As said, no hedging. Just simple SL stuff. Yeah, concering SL, well you put it little above the spikes, maybe 10 pips, 15 pips above highest spikes or lowest. Than if SL is 40 pips, you can make your TP 80 or 120. Depends.. Probably go for 80 pips. So, in practice. You have 1000$ 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...

I watched his video twice.
there are two things i find interesting:
- at a certain point he is in a losing trade. He hedges it to break even. If he had take a SL he would have lost 400$
His account would have grown to about 1600 instead of nearly 2000
- In his examples, he is hedging to try to break even on losing trades. But he does not show what happens if the hedge goes against him as well.
He shows more hedging levels he would take, but that just means he is growing his Risk with every new hedge level.
So it starts with 200 SL and then 400, the next would be 800 etc

Id like to see a trade where he decides to take the loss, otherwise its almost like a martingale-risk setup

or maybe Waveskierrob can shed some light on this.
When do you finally take the loss?
in wondering about yourself, you forgot what you came here to be part of
  • #730,178
  • Feb 18, 2023 3:41pm Feb 18, 2023 3:41pm
Compounded interest always been a motivation factor to me.
The idea of building up a bankroll from nothing to riches seems a little less impossible after some basic math calculations like this.
1% per day for 250 trading days per year = 1.100% after 1 year, 14.300% after 2 years etc. That's why we all continue our passionate hunt for edges in the financial markets, because we know if we find it, it can be life changing. Shout out to GU thread, you are great sports and source of daily entertainment and learning.
This thread should be renamed 'Trading chat' or something, because it's the most active and with the most experienced traders here on FF.
  • #730,179
  • Feb 18, 2023 4:03pm Feb 18, 2023 4:03pm
Quoting knkie
{quote} I watched his video twice. there are two things i find interesting: - at a certain point he is in a losing trade. He hedges it to break even. If he had take a SL he would have lost 400$ His account would have grown to about 1600 instead of nearly 2000 - In his examples, he is hedging to try to break even on losing trades. But he does not show what happens if the hedge goes against him as well. He shows more hedging levels he would take, but that just means he is growing his Risk with every new hedge level. So it starts with 200 SL and then...
When to take a loss, depends what % of your bank you are willing to lose, big bank trading tiny lots will keep you in the game for longer, I posted a loss of over 2000 pips on GU but use DJIA for hedging which was over +3000 pips, I also trade many pairs and indices so as a collective everything seems to average out and hedges, because it alternates from loss into profit quite often I closed when in profit then start over, hope that makes sense...
  • #730,180
  • Feb 18, 2023 4:10pm Feb 18, 2023 4:10pm
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