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Cable Update (GBPUSD)

  • #731,161
  • Feb 22, 2023 9:47am Feb 22, 2023 9:47am
Quoting Mitiblotch
Done for the day guys. Released. Try a cheeky long here at 2060. But I have used a really small size (0.05) so I I not under pressure. Price has been moving down slowly and could simply keep rolling down. Let's see how the minutes play out.
Out at 2073. +13. I guess I'll hopefully now sit on my hands till during or after FOMC minutes.
  • #731,162
  • Feb 22, 2023 9:47am Feb 22, 2023 9:47am
Quoting dantpm
{quote} Maintaining the integrity between all of the currency pairs is probably the single largest challenge in orchestrating currency moves! I believe that there is an opportunity to make money if you can get an AI to react to the Algos that control FX, not to predict exchange rates using anything other than recognition of movement patterns in price. An updated perspective on candles so to speak!

Whatever that means
How to succeed in zero sum game?
  • #731,163
  • Feb 22, 2023 9:49am Feb 22, 2023 9:49am
Quoting Gonzzo
dear people, read the forum, but think with your head, the market is always right, time will tell. I bought and will buy
Can you provide some charts please?
How to succeed in zero sum game?
  • #731,164
  • Feb 22, 2023 9:50am Feb 22, 2023 9:50am
Making a live trade call (hindsight are not qualified).

We may believe that we can predict the direction of the price movement, based on past performance.

For instance, you've made a trade call to shorting the market over the past few days, which failed after several attempt.
And still keep on going to do the same hoping this time is the right call.
However, this assumption can be risky, as we can be caught off-guard by unforeseen events, such as market-moving news.

For instance, on yesterday GU movement, you had made a short trade call based on our past performance, and a sudden news announcement caused a 200-pip spike in the opposite direction, sure your account got smoked yesterday.

Therefore, it is important for traders to justify their trade calls with charts and the context of the news.
Without these tools, trading is nothing but guesswork, and eventually, you may get lucky getting it right and feel proud of your success.

However, relying on luck alone is not a sustainable strategy for long-term success in trading.
Instead, traders should use data-driven analysis and careful consideration of the market conditions to make informed trade decisions.

That's my newbie view on your trade call.

CHIKO
I come from the future.
Karen X Mas Bonus 2025 All Time Profit: $15,104
  • #731,165
  • Feb 22, 2023 9:52am Feb 22, 2023 9:52am
If I'd buy then I would target that compression. And currently looking towards buy. I want to see PA a bit more.
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How to succeed in zero sum game?
  • #731,166
  • Feb 22, 2023 9:52am Feb 22, 2023 9:52am
Quoting dempire1
{quote} Can you provide some charts please?
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  • #731,167
  • Feb 22, 2023 9:52am Feb 22, 2023 9:52am
Quoting Gonzzo
dear people, read the forum, but think with your head, the market is always right, time will tell. I bought and will buy
Interesting, because I have both bought and sold today.
To free Gazans of Hamas, use whatever it takes.
  • #731,168
  • Feb 22, 2023 9:54am Feb 22, 2023 9:54am
Quoting Gonzzo
{quote}{image}
I don't see anything. What is the reason for the buy?
How to succeed in zero sum game?
  • #731,169
  • Feb 22, 2023 9:55am Feb 22, 2023 9:55am
Quoting Pat Chiko
Making a live trade call (hindsight are not qualified). We may believe that we can predict the direction of the price movement, based on past performance. For instance, you've made a trade call to shorting the market over the past few days, which failed after several attempt. And still keep on going to do the same hoping this time is the right call. However, this assumption can be risky, as we can be caught off-guard by unforeseen events, such as market-moving news. For instance, on yesterday GU movement, you had made a short trade call based on...
Don't agree with everything you said but each to their own, that's the great thing about this forum we can agree to disagree...well some can..
  • #731,170
  • Feb 22, 2023 9:56am Feb 22, 2023 9:56am
Quoting Pat Chiko
Making a live trade call (hindsight are not qualified). We may believe that we can predict the direction of the price movement, based on past performance. For instance, you've made a trade call to shorting the market over the past few days, which failed after several attempt. And still keep on going to do the same hoping this time is the right call. However, this assumption can be risky, as we can be caught off-guard by unforeseen events, such as market-moving news. For instance, on yesterday GU movement, you had made a short trade call based on...
Well, full disclosure, unless you're @Waveskierrob and just flip a coin.
  • #731,171
  • Feb 22, 2023 9:56am Feb 22, 2023 9:56am
Quoting dempire1
{quote} I don't see anything. What is the reason for the buy?
I do not have beautiful charts, with a bunch of arrows and indicators, support, resistance, there is nothing else on the market
  • #731,172
  • Feb 22, 2023 10:02am Feb 22, 2023 10:02am
Quoting Gonzzo
{quote}I do not have beautiful charts, with a bunch of arrows and indicators, support, resistance, there is nothing else on the market
I'm asking why do you buy?
How to succeed in zero sum game?
  • #731,173
  • Feb 22, 2023 10:09am Feb 22, 2023 10:09am
Quoting Pat Chiko
Making a live trade call (hindsight are not qualified). We may believe that we can predict the direction of the price movement, based on past performance. For instance, you've made a trade call to shorting the market over the past few days, which failed after several attempt. And still keep on going to do the same hoping this time is the right call. However, this assumption can be risky, as we can be caught off-guard by unforeseen events, such as market-moving news. For instance, on yesterday GU movement, you had made a short trade call based on...
chiko newbie I’m still short and holding my short lol
  • #731,174
  • Feb 22, 2023 10:10am Feb 22, 2023 10:10am
Quoting ninner
{quote} chiko newbie I’m still short and holding my short lol
Do you expect to find hawkish surprise in FOMC MoMs after most of the governors had a chance to self-correct the dovish narrative ?
I come from the future.
Karen X Mas Bonus 2025 All Time Profit: $15,104
  • #731,175
  • Feb 22, 2023 10:10am Feb 22, 2023 10:10am
Quoting dempire1
{quote} Whatever that means
An AI is a computer program that does pattern recognition. Many believe that they do other things but they don't.
This pattern recognition is used to find people in photographs, predict trends from data points, identify trends in data and so on.
What I am proposing is to design an AI that recognizes price patterns and uses this data to predict price. Part of the AI's function is to identify when there is a high or low probability of it being correct.
You would then use high probability short-term price predictions in an EA to trade.
Most people using AI technology are trying to get the AI to 'think', that code hasn't been developed yet.
Does that help?
  • #731,176
  • Feb 22, 2023 10:16am Feb 22, 2023 10:16am
Quoting dantpm
{quote} Well, full disclosure, unless you're @Waveskierrob and just flip a coin.
dantpm, please don't put ideas in FF heads, just now we end up with a like, dislike and flip-a-coin button .
  • #731,177
  • Feb 22, 2023 10:19am Feb 22, 2023 10:19am
Quoting Pat Chiko
{quote} Do you expect to find hawkish surprise in FOMC MoMs after most of the governors had a chance to self-correct the dovish narrative ?
Independent of how well the FED is managing the narrative, the more important question is where the MM's want to take price.
  • #731,178
  • Feb 22, 2023 10:19am Feb 22, 2023 10:19am
Quoting Guy1969
{quote} dantpm, please don't put ideas in FF heads, just now we end up with a like, dislike and flip-a-coin button .
...that would be great .....Twee get it sorted, the only thing now is to decide which currency coin ....
  • #731,179
  • Feb 22, 2023 10:20am Feb 22, 2023 10:20am
Quoting dempire1
{quote} I'm asking why do you buy?
I trade from support, I sell from resistance, the level can be broken, there is always a stop for this
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  • #731,180
  • Feb 22, 2023 10:26am Feb 22, 2023 10:26am
Quoting dantpm
{quote} An AI is a computer program that does pattern recognition. Many believe that they do other things but they don't. This pattern recognition is used to find people in photographs, predict trends from data points, identify trends in data and so on. What I am proposing is to design an AI that recognizes price patterns and uses this data to predict price. Part of the AI's function is to identify when there is a high or low probability of it being correct. You would then use high probability short-term price predictions in an EA to trade. Most...
Very familiar with this topic and I’ve used it in eurusd. It is SCARY how accurate it can be if data preprocessing is done correctly. Having a clean data set is key to testing your model
Master your mind. Master Trading.
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