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Cable Update (GBPUSD)

  • #730,181
  • Feb 18, 2023 4:29pm Feb 18, 2023 4:29pm
From my perspective, correction to 1.2143 (Tue Val, swing VAH, .618 fib) maybe higher, idk
Still a lot of things to do down the price scale, imo
1.1943 Fri POC
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Air force
  • #730,182
  • Feb 18, 2023 4:30pm Feb 18, 2023 4:30pm
Quoting Waveskierrob
{quote} 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...
yes that makes sense
thanx for answering

in wondering about yourself, you forgot what you came here to be part of
  • #730,183
  • Feb 18, 2023 4:44pm Feb 18, 2023 4:44pm
Quoting knkie
{quote} yes that makes sense thanx for answering
No worries , just watched the video scary as we trade in the same style, only difference being is he waits for the S +R set ups as where I will just flip a coin or trade both directions at the same time, I would say that his trades will profit quicker than mine as he has an edge, but I will take more trades on so may will profit more as more volume of trades, also I don't need charts and can trade from phone, again will average out or hedge when a trade hits a certain loss depends on pair, indice or how I feel (gutsy after a big run of quick profitable trades, maybe red news coming up, LO NYO, or when market flat through the Asian session)
  • #730,184
  • Feb 18, 2023 5:01pm Feb 18, 2023 5:01pm
Regarding pump / hype songs. What type of music to you hear when you are balls deep in a trade with margin call knocking on your door? I've got many, let me start with this one (bitcoin aside, imagine pump it up your trades) Share yours and I will share more hype music, hehe. This works well alongside with praying when your highly leveraged. Cheers
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  • #730,185
  • Feb 18, 2023 5:23pm Feb 18, 2023 5:23pm
Inactivity for 20 min, c'mon gents! Keep the thread going. I look like this and I still suppress my sleep because I'm having fun with my trading frens.
Quoting SnailFx: As I said in the past. You can leave Cable Forum, but Cable Forum can't leave you. Or the opposite hahah.
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  • #730,186
  • Feb 18, 2023 5:27pm Feb 18, 2023 5:27pm
Quoting Moty
{quote} With my system "i can lose ..... " I need only 25 % secesse to get to be so ... And mister gu has maybe 1 or 2 untrending days in a year
Found this RSI indicator on TradingView. Change the MA type to EMA and check out the results. Pretty accurately gets you in and out at the best times.
It also appears to work pretty good on other time frames as well.

EDIT Changed chart to include moving averages 9, 48 and 200.
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  • #730,187
  • Feb 18, 2023 5:42pm Feb 18, 2023 5:42pm
*When all your trading buddies gone to sleep and I'm here waiting for like and reply* lol
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  • #730,188
  • Feb 18, 2023 5:44pm Feb 18, 2023 5:44pm
Quoting Waveskierrob
{quote} No worries , just watched the video scary as we trade in the same style, only difference being is he waits for the S +R set ups as where I will just flip a coin or trade both directions at the same time, I would say that his trades will profit quicker than mine as he has an edge, but I will take more trades on so may will profit more as more volume of trades, also I don't need charts and can trade from phone, again will average out or hedge when a trade hits a certain loss depends on pair, indice or how I feel (gutsy after a big run...
excellent
good insight
thanx !
in wondering about yourself, you forgot what you came here to be part of
  • #730,189
  • Feb 18, 2023 6:00pm Feb 18, 2023 6:00pm
Quoting alwaysloser
Be like Moty He lives to trade and he trades to live People throw shades at him but he still making that pip He is awake at day and awake at night You've never seen Batman and Moty in the same room, amiright? Mr. Pat chiko and Mr. WaveG fighting the neverending battle I wish Moty would finally swing that hammer Like Thor, bring people back to their senses But NO he is way too focused His ignore game is way too vicious He is married to this pip-making game Amidst the chaos, he climbs the ladder of wealth and fame. Easy come easy go many come many...
Nice poem, maybe you should be a writer, hehe wp
  • #730,190
  • Feb 18, 2023 6:01pm Feb 18, 2023 6:01pm
Quoting Waveskierrob
{quote} No worries , just watched the video scary as we trade in the same style, only difference being is he waits for the S +R set ups as where I will just flip a coin or trade both directions at the same time, I would say that his trades will profit quicker than mine as he has an edge, but I will take more trades on so may will profit more as more volume of trades, also I don't need charts and can trade from phone, again will average out or hedge when a trade hits a certain loss depends on pair, indice or how I feel (gutsy after a big run...
You also carefully manage the size and number of trades relative to your account and your perception of the general direction of the market. Your charts don't exactly complement the trading style that you claim drives your trading decisions. Just sayin.
  • #730,191
  • Feb 18, 2023 11:30pm Feb 18, 2023 11:30pm
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Enough already....you sound like my 12 yr. old daughter and her friends.
Lost....
  • #730,192
  • Feb 18, 2023 11:45pm Feb 18, 2023 11:45pm
Quoting Moty
{quote} With my system "i can lose ..... " I need only 25 % secesse to get to be so ... And mister gu has maybe 1 or 2 untrending days in a year
Thanks for your view.

I agree with your approach, Mordechai.

When entering the market, our focus is not on whether we will make or lose money, but rather on playing a game of probability, risk management, and risk-to-reward ratio.

These are the key elements that I prioritize in my trading strategy.

Knowing that you can be wrong 74% of the time and still make money does wonders for a trader's psychology as losses are no longer something to be feared.
The more you can remove emotion from trading, the easier it will be to become a disciplined, strategic trader.

Here is a table demonstrating the RRR (risk-to-reward ratio) required for profitable trades in Forex, based on my approach:
Minimum RRR: 1:3
Winning trades needed for profitability: 26%
Recommendation for your positions: Implement a minimum RRR of 1:3.
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In Forex, Losses are normal. If you can't handle losses then this is Not for you, kindly backup.
I come from the future.
Karen X Mas Bonus 2025 All Time Profit: $15,104
  • #730,193
  • Feb 18, 2023 11:53pm Feb 18, 2023 11:53pm
Quoting dantpm
{quote} You also carefully manage the size and number of trades relative to your account and your perception of the general direction of the market. Your charts don't exactly complement the trading style that you claim drives your trading decisions. Just sayin.
What charts
  • #730,194
  • Edited 1:00am Feb 19, 2023 12:44am | Edited 1:00am
Quoting Waveskierrob
{quote} "And did Karen apologize for wrongly accusing Waveskie, Martinez, and me of being the same person and reporting us to FF admin?" Yea where's our apology ? {image}
Some matured like a good wine,
The old skipper "age like cheap wine" or bad curry.

Cheap wine, never being that great, only lasting for a short while and ending up sour and unpleasant.

- life is too short to drink bad wine. I avoid them
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I come from the future.
Karen X Mas Bonus 2025 All Time Profit: $15,104
  • #730,195
  • Feb 19, 2023 12:45am Feb 19, 2023 12:45am
Quoting Waveskierrob
{quote} What charts
Talking to chartless person, like talking to my shadow............
I come from the future.
Karen X Mas Bonus 2025 All Time Profit: $15,104
  • #730,196
  • Feb 19, 2023 1:09am Feb 19, 2023 1:09am
Quoting W0lfram
From my perspective, correction to 1.2143 (Tue Val, swing VAH, .618 fib) maybe higher, idk Still a lot of things to do down the price scale, imo 1.1943 Fri POC {image} {image}
Why do you think ..now GU is in correct phase??
  • #730,197
  • Edited 4:34am Feb 19, 2023 3:15am | Edited 4:34am
Quoting zanhuynh
{quote} why do you think ..now gu is in correct phase??
┐⁠(⁠ ⁠∵⁠ ⁠)⁠┌
correct phase = correction? Not sure that I properly undestood your post
Air force
  • #730,198
  • Feb 19, 2023 3:35am Feb 19, 2023 3:35am
Quoting zanhuynh
{quote} Why do you think ..now GU is in correct phase??
What do you think?

I think it is, still..
Weekly is still suggesting Long on my chart.

We'll see..

These scenarios are purely what I think could happen in the next 2-3 Weeks.
Is this helping me trade more confidently? No, actually the opposite.
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  • #730,199
  • Feb 19, 2023 3:40am Feb 19, 2023 3:40am
Quoting Pat Chiko
{quote} Thanks for your view. I agree with your approach, Mordechai. When entering the market, our focus is not on whether we will make or lose money, but rather on playing a game of probability, risk management, and risk-to-reward ratio. These are the key elements that I prioritize in my trading strategy. Knowing that you can be wrong 74% of the time and still make money does wonders for a trader's psychology as losses are no longer something to be feared. The more you can remove emotion from trading, the easier it will...
how do you know Moty is common short name to Mordechai?
  • #730,200
  • Feb 19, 2023 3:47am Feb 19, 2023 3:47am
Quoting Whale
{quote} how do you know Moty is common short name to Mordechai?
Moty mentioned it a few days ago
Insane in the Brain..
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