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Cable Update (GBPUSD)

the currencies are losing strength which means the USD will be gaining strength!!!
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!!!
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 $1k account with no worries about a margin call.
The markets are speaking to you. Do you know their language? I M T
Quoting SnailFX
{quote} As said, no hedging. Just simple SL stuff. Yeah, concering SL, well you put it little above the spikes, maybe 10 pips, 15 pips above highest spikes or lowest. Than if SL is 40 pips, you can make your TP 80 or 120. Depends.. Probably go for 80 pips. So, in practice. You have 1000$ 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
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.
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...
Soon To Be Temporarily Suspended Again
You know you are addicted to Forex Factory when Facebook likes are nothing and FF likes makes your day. Haha check out these relatable memes. I've spend last two days here on FF and It's been a blast as always, enjoy looking at charts, only you will understand me. Let's absolutely smash it next trading week, let's not let this forum 'die' at night times, keep it going with informative info and humor.
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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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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
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)
Soon To Be Temporarily Suspended Again
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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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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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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*When all your trading buddies gone to sleep and I'm here waiting for like and reply* lol
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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
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
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.
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Enough already....you sound like my 12 yr. old daughter and her friends.
Lost....
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.
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
Soon To Be Temporarily Suspended Again
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