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Cable Update (GBPUSD)

  • #733,701
  • Mar 3, 2023 4:09am Mar 3, 2023 4:09am
Quoting MrFanciful
{quote} I'm in the UK and use IC Markets. Mostly because it allows 1:500 and is in the Seychelles tax juristiction. My goal, once consistently profitable, is to open an Offshore Business in the Seychelles, know as an IBC, to trade through as an employee of that company. IBC's in the Seychelles don't pay any tax.
I don't use the 1:500 to over leverage.
I use it to allow for very tight stops while risking 2% per position.

When I traded with IG with 1:30, firstly I had larger spreads. IC Markets are very close to zero. With IC Markets, I can put on a 2% risk trade over a 5 pip stop, then add another further in the move, and another, obviously assuming the conditions are favouable. I couldn't do that with IG.
  • #733,702
  • Mar 3, 2023 4:11am Mar 3, 2023 4:11am
Quoting MrFanciful
{quote} I'm in the UK and use IC Markets. Mostly because it allows 1:500 and is in the Seychelles tax juristiction. My goal, once consistently profitable, is to open an Offshore Business in the Seychelles, know as an IBC, to trade through as an employee of that company. IBC's in the Seychelles don't pay any tax.
That way you can avoid manipulation on you. Just have to find the correct Clearing Agent Broker and avoid meta.
POSTMASTER
  • #733,703
  • Mar 3, 2023 4:12am Mar 3, 2023 4:12am
Quoting birdland
{quote} you can show us how to do. always open to learn something new;-)
Place UK100 and US30 next to GBPUSD all same TF and look. I use a raw chart to start as I like being objective.

The two play off each other and then tadaaah you get the GBPUSD. Each affects the combined. Next is so complicated .... up vs down = buy and sell. Then there's Risk. USD indices are pure fiction. They may intimate but they're not real. They're intellectual make believe. If you don't use real things then you're giving away position. And that means market position = money.

Next The Cable is for Trade Balancing and exchanges so you cannot just sit there and say "I reckon it's gonna go up!". Exchanges are accountable and so they have to offer a means to bridge. In walks the Index Idea of real life. Never wondered why we have all these fancy Indices and Index Trusts ?? Come ON !!! The US 30, the FTSE, the S and P etc?? Trade power. You trade a currency pair but they trade power. Many are constituent balancers. Go and look at what's inside GBP and USD and each of the index forms and learn how they function within themselves.

So while you try to decide up or down, the UK 100 and US 30 are already doing it. Capiche ??!!
Real Trading is not gambling.
  • #733,704
  • Mar 3, 2023 4:13am Mar 3, 2023 4:13am
Quoting W0lfram
{quote} In which hole? pat's chihuahua tasted ribbed condoms, you experiencing dickheads somewhere. Not sure if this is the right forum to share this kind experiences.
looks like you getting your meds again. Don’t be a schmuk, you have issues get seen to and do us all a favour and go do one. Panchod !
Insane in the Brain..
  • #733,705
  • Mar 3, 2023 4:13am Mar 3, 2023 4:13am
Quoting Robinhood1
{quote} That way you can avoid manipulation on you. Just have to find the correct Clearing Agent Broker and avoid meta.
Or ....... you could just learn how to do it properly. and stop being a victim. Just a thought.
Real Trading is not gambling.
  • #733,706
  • Mar 3, 2023 4:18am Mar 3, 2023 4:18am
Quoting mysterio
{quote} hopefully the last of the shakeouts but, as ever with forex it can always make a move counter to your expectation so i'll set my stop to BE here and re-evaluate if i get stopped.
Lol, thats me

scraped 10 pips out of this mess this morning

Lets see NY

I think we may be headed to Thurs high now, either that or another shakeout
  • #733,707
  • Mar 3, 2023 4:20am Mar 3, 2023 4:20am
Some US data later could send the fireworks here and there. Have set TP for longs at around yesterdays high. Being a Friday we could see moves on both the ups and down. Will look to sell around my TP area.
Insane in the Brain..
  • #733,708
  • Mar 3, 2023 4:21am Mar 3, 2023 4:21am
Quoting mysterio
{quote} Lol, thats me scraped 10 pips out of this mess this morning Lets see NY I think we may be headed to Thurs high now, either that or another shakeout
I’m using that level as my TP any higher and we are looking at 121.
Insane in the Brain..
  • #733,709
  • Mar 3, 2023 4:23am Mar 3, 2023 4:23am
Quoting PeterCaleb
{quote} Or ....... you could just learn how to do it properly. and stop being a victim. Just a thought.
Or you could just ignore me and move on. I do not bloody care what you post. I can think for myself. Now, if my posts are against your interests well you have a problem.
POSTMASTER
  • #733,710
  • Mar 3, 2023 4:25am Mar 3, 2023 4:25am
I see its going to be a busy day handling with the narrative
POSTMASTER
  • #733,711
  • Mar 3, 2023 4:26am Mar 3, 2023 4:26am
Quoting PeterCaleb
{quote} Or ....... you could just learn how to do it properly. and stop being a victim. Just a thought.
What about posting some trades buddy, never seen you around
POSTMASTER
  • #733,712
  • Mar 3, 2023 4:30am Mar 3, 2023 4:30am
Quoting palpite
{quote} See the wave, it's a pullback. {image}
the pull back was the move down after the crooky right shoulder
Attached Image (click to enlarge)
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this is the only way to trade
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yes yes yes
  • #733,713
  • Mar 3, 2023 4:33am Mar 3, 2023 4:33am
Quoting Moty
{quote} the pull back was the move down after the crooky right shoulder{image} this is the only way to trade {image}
what you targeting as profit area?
Insane in the Brain..
  • #733,714
  • Mar 3, 2023 4:36am Mar 3, 2023 4:36am
Quoting BeeTogether
{quote} what you targeting as profit area?
for the all day 1.203000-1.20500
i will take profit at the next bullish extreme at the m1 rsi
yes yes yes
  • #733,715
  • Mar 3, 2023 4:38am Mar 3, 2023 4:38am
Quoting Moty
{quote} for the all day 1.203000-1.20500 i will take profit at the next bullish extreme at the m1 rsi
ok so we’re on the same page. …
Insane in the Brain..
  • #733,716
  • Mar 3, 2023 4:42am Mar 3, 2023 4:42am
Range 1.1955 ~ 1.2015
Live trade ~ GBPUSD only. No chart! Follow at your own risk!
  • #733,717
  • Mar 3, 2023 4:44am Mar 3, 2023 4:44am
Quoting Robinhood1
{quote} What about posting some trades buddy, never seen you around
First, I trade real markets using real things. My detailing of the cable and its index position vs you people using a ficticious index speaks volumes as it is.

Second, my comment about being a victim is because you set a poor example for people.

And third, while making dinner, and chatting here I was grabbing some easy gains off the UK100 and the US30. Fools can make up crap and get all cliquey about it but seriously, come on. I mean the GBPUSD in the last 5 hrs has only moved 30 odd pips. A person's profits should at least be in double or triple figures using that ..... right? Yes? No? I'm not really being a smart ass I'm simply explaining that real things cause real things. I see this thread is popular but poor use of things is still poor use. Learn or keep guessing.

Peter
Real Trading is not gambling.
  • #733,718
  • Mar 3, 2023 4:45am Mar 3, 2023 4:45am
test 10 - sell - 1.2002 - RSI overbought

Attached Image (click to enlarge)
Click to Enlarge Name: palpite.png Size: 15 KB
Together we can be strongest
Vantage Return This Month: na
  • #733,719
  • Mar 3, 2023 4:45am Mar 3, 2023 4:45am
Quoting dempire1
{quote} Do it. Post. Or you're just dummy who gets eaten in this wild west... Honestly, one thing I don't understand. If you know all these secret algo bs and know how price moves blabla why aren't you on forbes? Or top billionaire? Not owning a hedge fund? Not on the news? But sitting in basement babbling nonsense?
Basement
  • #733,720
  • Mar 3, 2023 4:45am Mar 3, 2023 4:45am
Quoting fxmasterdxb
Im out of the market currently, however, if i was trading i will be looking to sell between 1.2010 to 1.2035 if we get there
I was not planning to take any trade today but if price gets to 1.2050 then im selling!
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