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Cable Update (GBPUSD)

  • #731,021
  • Feb 22, 2023 5:20am Feb 22, 2023 5:20am
hello guys, just curious about facing loss.
what do you do when the trade doesnt go as our plan, and getting loss several times?

sick of waiting several candle for confirmation to go to my plan, but end up in loss..
  • #731,022
  • Feb 22, 2023 5:24am Feb 22, 2023 5:24am
Quoting silverjazz
hello guys, just curious about facing loss. what do you do when the trade doesnt go as our plan, and getting loss several times? sick of waiting several candle for confirmation to go to my plan, but end up in loss..
If this has ocurred enough times that you are confident that it is "normal" behavior when following this plan, then consider revising the plan.
To free Gazans of Hamas, use whatever it takes.
  • #731,023
  • Feb 22, 2023 5:28am Feb 22, 2023 5:28am
Quoting silverjazz
hello guys, just curious about facing loss. what do you do when the trade doesnt go as our plan, and getting loss several times? sick of waiting several candle for confirmation to go to my plan, but end up in loss..
A break might come in handy.
Just try to make sure you live to fight another day.
  • #731,024
  • Feb 22, 2023 5:31am Feb 22, 2023 5:31am
Buy limit for 10pips from discount fvg
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  • #731,025
  • Edited 5:42am Feb 22, 2023 5:32am | Edited 5:42am
Quoting silverjazz
hello guys, just curious about facing loss. what do you do when the trade doesnt go as our plan, and getting loss several times? sick of waiting several candle for confirmation to go to my plan, but end up in loss..
This is why I never predict, don't have to wait for set ups and to be honest the end result is just the same, but if you are losing several times in a row maybe your SL physically or mentally are to close, maybe exercise a little more patience...
  • #731,026
  • Feb 22, 2023 5:37am Feb 22, 2023 5:37am
Quoting silverjazz
hello guys, just curious about facing loss. what do you do when the trade doesnt go as our plan, and getting loss several times? sick of waiting several candle for confirmation to go to my plan, but end up in loss..
Traders typically acknowledge the presence of uncertainty in their work and accept that there are no guarantees regarding the direction of the market.

However, the ego can also come into play when dealing with uncertainty.
Despite our intellectual understanding of uncertainty, our egos may struggle with the unpredictability of the market and the potential impact on our sense of control and competence.

How does the ego factor into our perception of uncertainty in trading?
I come from the future.
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  • #731,027
  • Feb 22, 2023 5:37am Feb 22, 2023 5:37am
another scalp buying, 1.2092 is the target. 1.2072 is the stop loss.
Together we can be strongest
Vantage Return This Month: na
  • #731,028
  • Feb 22, 2023 5:38am Feb 22, 2023 5:38am
I have 1.2070 and 1.2055 as candidates for rebuy for NY session. Waiting for the session to start to hone in. Basically if one of those aligns with 104.4 on dxy i think its GTG.

Stretch target asia high. Looking for a 50-60 pip run
  • #731,029
  • Feb 22, 2023 5:41am Feb 22, 2023 5:41am
Quoting Pat Chiko
{quote} Traders typically acknowledge the presence of uncertainty in their work and accept that there are no guarantees regarding the direction of the market. However, the ego can also come into play when dealing with uncertainty. Despite our intellectual understanding of uncertainty, our egos may struggle with the unpredictability of the market and the potential impact on our sense of control and competence. How does the ego factor into our perception of uncertainty in trading?

Many people believe that technical analysis can predict future market movements.
However, technical analysis primarily helps traders assess the broader trend and offers a probabilistic estimate of the likelihood that the trend will continue or reverse.

Technical analysis does not provide a definitive prediction of the market's next move.

Despite this, many traders approach trading with the expectation that their system or technical analysis will produce winning trades.
This mindset often leads to trading errors as traders struggle to tolerate the uncertainty that is inherent in the market.

Although traders may understand the concept of uncertainty intellectually, they may not fully comprehend the risks involved, leading to poor decision-making. (learn to fix this)
I come from the future.
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  • #731,030
  • Feb 22, 2023 5:52am Feb 22, 2023 5:52am
Quoting JereMi256
{quote} Limit filled {image}
All closed @BE
Buy limit @1.2053
Face 'ur fears & tame 'ur greed
  • #731,031
  • Feb 22, 2023 6:00am Feb 22, 2023 6:00am
Quoting Pat Chiko
{quote} Many people believe that technical analysis can predict future market movements. However, technical analysis primarily helps traders assess the broader trend and offers a probabilistic estimate of the likelihood that the trend will continue or reverse. Technical analysis does not provide a definitive prediction of the market's next move. Despite this, many traders approach trading with the expectation that their system or technical analysis will produce winning trades. This mindset often leads to trading errors as traders struggle to tolerate...

Loss aversion is the reason most people go bust and fail to make money.

The question is if this is so wouldn't traders be placing tight stop losses and cutting their losers quickly because they hate to lose. ?

It's quite insidious because yes they hate to lose and you know when you think about it logically you would think that you know this would make control the trade risk better.
This is insidious because it's there's also a desire to win and to win a lot of money in a short period of time and and so people are willing to sometimes to take bigger big risks with poor odds just to have a shot.

Not earning a lot of money in a short period of time is a complex thing for human psychology.
I don't pretend to to sort understand it thoroughly.

I just know what has been proven to work is timing in the market and it's this it's embracing uncertainty, working on developing emotional stability, emotional maturity, however you want to call this.
And third it's focusing on the long-term picture and approaching trading from a statistical probability lens.

And if you have that in place, you're virtually guaranteed to make more money than you lose in the long run.
I come from the future.
Karen X Mas Bonus 2025 All Time Profit: $15,104
  • #731,032
  • Feb 22, 2023 6:06am Feb 22, 2023 6:06am
Quoting Pat Chiko
{quote} Loss aversion is the reason most people go bust and fail to make money. The question is if this is so wouldn't traders be placing tight stop losses and cutting their losers quickly because they hate to lose. ? It's quite insidious because yes they hate to lose and you know when you think about it logically you would think that you know this would make control the trade risk better. This is insidious because it's there's also a desire to win and to win a lot of money in a short period of time and and so people are willing to sometimes to...
One principle that I respect more than anything, CUT YOUR LOSES SHOT, no matter what
I'm enjoying the wins because I was once terrified by loses
  • #731,033
  • Feb 22, 2023 6:06am Feb 22, 2023 6:06am
If your position size is too big you'll care too much but if it's too small you won't care enough.

How do we then optimize our position sizes for the that sweet spot right but that's where self-awareness comes in because you know when you know yourself ..............
I come from the future.
Karen X Mas Bonus 2025 All Time Profit: $15,104
  • #731,034
  • Feb 22, 2023 6:06am Feb 22, 2023 6:06am
Quoting AlfieSolomon
Buy limit for 10pips from discount fvg {image}
Precision by ict just love it
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  • #731,035
  • Feb 22, 2023 6:09am Feb 22, 2023 6:09am
Quoting KareemAliFx
I have some shorts in profit and some underwater for eurusd, im going to bed and not putting any SL, you win or you die!
Nice to wake up to some downside. For now we ride this out and enjoy pips the usuals
Master your mind. Master Trading.
  • #731,036
  • Feb 22, 2023 6:09am Feb 22, 2023 6:09am
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yes yes yes
  • #731,037
  • Feb 22, 2023 6:15am Feb 22, 2023 6:15am
thank you guys for responding.. i respect that..
i learn about SnR also risk and reward..
and all i have to do is waiting and waiting for the right moment to ride the waves..
maybe i need to learn another "waiting session"..
  • #731,038
  • Feb 22, 2023 6:15am Feb 22, 2023 6:15am
so lazy..

i'll take it out and it will spike?

lets give it a try?
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  • #731,039
  • Feb 22, 2023 6:15am Feb 22, 2023 6:15am
I assumed this yesterday but with feds minutes and stock market looking bad , it is reasonable to say USD demand will be there today
Master your mind. Master Trading.
  • #731,040
  • Feb 22, 2023 6:16am Feb 22, 2023 6:16am
Quoting mysterio
{quote} closed at 1.2088. 13 pips only. waiting for NY to decide next move.we have nearly equal lows on hourly, with yesterdays NY low. will these be left for a later date or tapped during this consolidation? DXY has a strongish level at 104.4. so, waiting for that might be smart, otherwise wait for priceaction clues.
Smart move Bro........

In range now.
It will get moiving up and down for scalpers getting quick buck.

Safe to stand aside and get back in NY.
I come from the future.
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