Cable Update (GBPUSD)

Quoting donfriday

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Let me ask they say follow the trend, does it always work? They say buy support sell resistance does it always work what they told us is lie the winner take the money of the impatience and who are patience the player that stays longer in the game .

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Quoting eyefeelsix

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{quote} for me, cut-loss early is a delayed victory in the future.. {image}

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Quoting Fardeen1209

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{quote} Mate, before you quit, i suggest you at least put some time aside to read "trading in the zone" it helps me a lot and i'm half way to complete the read. The book is purely based on the psychology part of the trader, not some fancy market structure, technical analysis or some other stuff. In short, from what i have already read, the book focus on what went through your mind everyday when you open your brokerage account, the emotional (pain or excitement) rollercoaster you feel everyday and concurrently kept your mind clear to see what the...

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Quoting MrFanciful

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{quote} Price action. I also have an indicator strategy using stochastic and EMA. The EMA works well for trends and the stochastic works well for ranges. Unfortunately, I can't tell when I'm in a range until I'm well into it. So take heavy losses. In fact, I coded this strategy into a trading bot, telling it to stop trading at 8% profit or 6% loss. I just tested it on today and it made a 9% profit.But most time it loses as when a swing happens into the other direction, it continues to trade in the original direction. {image}

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Quoting pipfarm

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{quote} Simple fix , i saw it immediately when i looked at your emas. First of all 1 min is too low, but good to practise on.... Pick a timeframe you like eg 5min wait for your blue ema to be moving in same direction as the pink, with the price bars under the blue. Now concentrate on PA bars, for short watch the bars , when they start making HH,HL, this is a correction, there are other combinations but this is the best one, you drop to 1m and wait for the emas to cross back down or whatever other method you use for entry. There does not have to...

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Quoting Moty

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{image}

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Quoting MrFanciful

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After a 73% loss on monday and an 85% loss today. I'm closing my account. 6 years of trying and I only get worse.

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Quoting pipfarm

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{quote} Simple fix , i saw it immediately when i looked at your emas. First of all 1 min is too low, but good to practise on.... Pick a timeframe you like eg 5min wait for your blue ema to be moving in same direction as the pink, with the price bars under the blue. Now concentrate on PA bars, for short watch the bars , when they start making HH,HL, this is a correction, there are other combinations but this is the best one, you drop to 1m and wait for the emas to cross back down or whatever other method you use for entry. There does not have to...

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Quoting MrFanciful

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I keep thinking that all I really want in 15 pips. I don't care how I get there, 3x 5pip or 1x 15pip, or anything in between. I recognize that it's a marathon and not a sprint. If I could code a bot just for the short targets, I would. But it's unbelievably difficult to code reliable entries. You look the the chart and code for very specific entry criteria, but then you find that it also occurs when the conditions aren't in your favour. I still lose with my current bot, but I don't lose anywhere near as much as I do discretionary trading.

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Quoting MrFanciful

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{quote} Sorry, it's probably obvious, but what do you mean by PA and PB bars?

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Quoting pipfarm

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{quote} PA means price action it is the same thing as price bars ,PB is pullback or correction , when price is making a correction to go short it goes the opposite way , you will see it as 2 maybe 3 bars making Higher high and higher low bars, then you drop to the lower timeframe where you will see it as a swing with your emas, this is where you probably get confused because you then probably think that correction is a trend which it can be, infact it will almost always look that way, but stick your guns and go for the short if the emas cross back...

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Quoting MrFanciful

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{quote} I thought it was "price" something, but after today, my brain isn't working properly.

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Quoting OBsayMkMoney

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{quote} Wait.. are you trading with a robot? If so.. stop. very few are profitable, and only on huge accounts.

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Quoting pipfarm

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{quote} Take a rest buddy , a few days away from the screen then come back and take a look again at what i said, it will become clear. Good luck

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Quoting MrFanciful

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{quote} Thanks I think I will.

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