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Cable Update (GBPUSD)

  • #749,381
  • Jun 3, 2023 12:39am Jun 3, 2023 12:39am
Quoting Whale
{quote} So you think a massive amount pair pip will change the fact that Frena's trade wasn't the best entry due to price and time? How many pips trader should risk to take 30-40 pips pair day? let me tell you something that a lot of agree here but only inside, they won't tell it loudly. Most of the traders that called themselves day traders, somehow becoming a day investors. They want 30-40 pips a day. Monday - +30 pips Tuesday , + 56 pips Wednesday morning - +41 pips ( oh man i can do it all day long, i will be a millionaire soon) Thursday- floating...
Thanks for sharing, but it looks like you misunderstood what I meant. One day I might get 10/20 pid or nothing, no problem. I don't decline 50-60 pid for a lucky day. Here I am learning not to lose too much and lose control. The opportunity is always there. I am newbie and I am learning capital management and discipline. I only trade EU and very little Gu (maybe my management is not suitable for the fluctuations of Gu during the day). Thanks for sharing your management experience. Nice weekend
  • #749,382
  • Jun 3, 2023 1:07am Jun 3, 2023 1:07am
Quoting ntadtin
{quote} Thanks for sharing, but it looks like you misunderstood what I meant. One day I might get 10/20 pid or nothing, no problem. I don't decline 50-60 pid for a lucky day. Here I am learning not to lose too much and lose control. The opportunity is always there. I am newbie and I am learning capital management and discipline. I only trade EU and very little Gu (maybe my management is not suitable for the fluctuations of Gu during the day). Thanks for sharing your management experience. Nice weekend
I wish you happiness and luck
  • #749,383
  • Jun 3, 2023 1:21am Jun 3, 2023 1:21am
breakout,pullback andbreaks limit2440,so without doubt ,next support goes to 2401.2426may try a little though monday open and next support goes beloqw2349,2388 may again try support .so GU more clearer then eu or usdx and can take as signal.
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Not understand?better not follow my analyses!doubt clearer first, risks ++
  • #749,384
  • Jun 3, 2023 3:11am Jun 3, 2023 3:11am
Quoting ninner
{quote} You and your band of merry men got squeeeeeeeeeeeeeeeeeeeezed!!!! LOL.....losers
ninner's GU LONG trade
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  • #749,385
  • Jun 3, 2023 3:14am Jun 3, 2023 3:14am
Quoting Whale
{quote} So you think a massive amount pair pip will change the fact that Frena's trade wasn't the best entry due to price and time? How many pips trader should risk to take 30-40 pips pair day? let me tell you something that a lot of agree here but only inside, they won't tell it loudly. Most of the traders that called themselves day traders, somehow becoming a day investors. They want 30-40 pips a day. Monday - +30 pips Tuesday , + 56 pips Wednesday morning - +41 pips ( oh man i can do it all day long, i will be a millionaire soon) Thursday- floating...
You are only telling a part of the story. It is a rare day not to make 40pips of profit on the GU. But what is 40 pips of profit?

Pips are only the increments the charts move in so by themselves they are useless information. Now express 40 pips as a % of the account and we have a story to tell of useful information. For example, we could let 40 pips represent 2% of our account and risk 20 pips being 1%. The problems I see on this thread are people adding to losing trades digging deeper holes, not using hard stops leaving themselves open to big drawdowns, THINKING trades instead of reacting to the chart movements, placing trades just for the heck of it with no basis.
  • #749,386
  • Jun 3, 2023 6:09am Jun 3, 2023 6:09am
Quoting Nala66
{quote} You are only telling a part of the story. It is a rare day not to make 40pips of profit on the GU. But what is 40 pips of profit? Pips are only the increments the charts move in so by themselves they are useless information. Now express 40 pips as a % of the account and we have a story to tell of useful information. For example, we could let 40 pips represent 2% of our account and risk 20 pips being 1%. The problems I see on this thread are people adding to losing trades digging deeper holes, not using hard stops leaving themselves...
Nala66, there's a saying that when you find yourself in a hole, the first thing to do is stop digging but some people here have different philosophies (and that's their right), and the bigger the hole, the bigger shovel they pick up to dig themselves out. Yes, 40 pips a day is doable considering that daily ATR(14) is 90 pips for GU. It doesn't have to be in one trade, though.
Always trade your own plan...I don't provide trading signals.
  • #749,387
  • Jun 3, 2023 6:34am Jun 3, 2023 6:34am
Quoting coreg2004
{quote} nala66, there's a saying that when you find yourself in a hole, the first thing to do is stop digging but some people here have different philosophies (and that's their right), and the bigger the hole, the bigger shovel they pick up to dig themselves out. Yes, 40 pips a day is doable considering that daily atr(14) is 90 pips for gu. It doesn't have to be in one trade, though.

yes gu does work perfectly

if price open at 2 it possible that we see 3 or 2


failure to reach the atr within the weak will make the next week more volatile
MY OPINION NOT FINANCIAL ADVISE
  • #749,388
  • Jun 3, 2023 6:39am Jun 3, 2023 6:39am
Quoting donfriday
my weekly open is 1.23 upside target 1.24 100% atr in extension 1.2450 downside target 1.23 100% atr in extension 1.2250 i expect 1.2250 by 2nd week of june my personal view {image}


this week atr was above 100%
i expect the coming week to be on average

my weekly open 1.24

up side 1.25 100% ATR extension 1.2550
down side 1.23 100% ATR extension 1.2250

its unlikely for me to expect 1.23 for now
MY OPINION NOT FINANCIAL ADVISE
  • #749,389
  • Jun 3, 2023 6:53am Jun 3, 2023 6:53am
this week was volatile

what should i expect next?

price need to cool of for next target not sure big players trade NFP but coming to see whats on the chart surely you will need time to get quality trade.
MY OPINION NOT FINANCIAL ADVISE
  • #749,390
  • Jun 3, 2023 7:11am Jun 3, 2023 7:11am
to me wave five max extension 1.2750/1.28 ...to short
the classic ret done at 1.23.
if not already finished (1.2679 ) my target is 1.1350 .
  • #749,391
  • Jun 3, 2023 7:55am Jun 3, 2023 7:55am
Quoting navk
{quote} try vantagefx australia. go markets, australia and axitraders australia
Thanks Navk, for reply, I will try with Vantage, I am doing funded accounts, also I have manage accounts for few friends, of personal money,
kindly anyone in forum try with “Ment Funfing and Nova Funding these are one phase evaluation, with no time limit,
waiting yours opinion?
  • #749,392
  • Jun 3, 2023 8:31am Jun 3, 2023 8:31am
Quoting donfriday
{quote} this week atr was above 100% i expect the coming week to be on average my weekly open 1.24 up side 1.25 100% ATR extension 1.2550 down side 1.23 100% ATR extension 1.2250 its unlikely for me to expect 1.23 for now
matching some levels if with existing pa ! as already a bear continuation by below 2441, so subwave iii extension already happening .ok then imaginary tl 2435 or better 2425 may try bounce for 2452/54 and if unable breaks 2458 ,likely then should refuge to further down sr 2414/2400, 2394 any or all ok as good support ! wave iv can be 2482/94 or just above 2447.next wave v th can be 2382/43 low( towards 2308) length! so matching 2400 ,better go for it then! Take care
Attached Image (click to enlarge)
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Not understand?better not follow my analyses!doubt clearer first, risks ++
  • #749,393
  • Jun 3, 2023 8:52am Jun 3, 2023 8:52am
Quoting Coreg2004
{quote} Nala66, there's a saying that when you find yourself in a hole, the first thing to do is stop digging but some people here have different philosophies (and that's their right), and the bigger the hole, the bigger shovel they pick up to dig themselves out. Yes, 40 pips a day is doable considering that daily ATR(14) is 90 pips for GU. It doesn't have to be in one trade, though.
I think you miss the point relating to the 40 pips. That was just mentioned as the example, but pips are pips and profits are something entirely different requiring discipline and strategy not the psychology most people get themselves involved with. (I am generalizing here)

Caratacus was using wishful thinking with his much larger army thinking he could defeat the discipline and strategy of the Roman legions. To the Romans it was business with tried and tested positive results whereas Caractacus was just pissing into the wind. We should learn the lessons of the past but how quickly we forget and repeat the same things over and over and traders do this constantly, poking a sharp stick in their eye hoping for better outcomes. (What is the definition of insanity again?)

I recall someone posting a while back asking, what is Money Management? I don't recall a single post explaining it, but conspiracy theories abound on this thread almost daily. Why is that? maybe it is easier to make something up than it is to relay actual facts, I don't know. Supply and demand, what is that all about, has anyone ever been refused a trade because there was no supply. We as traders can only demand we cannot sell, which is why every trade we take money comes out of our account to pay for it. If traders just stick to the facts, they will be much better for it than to subscribe to theoretical stuff. If price is rising, then why short it and if it is falling then why go long, the charts are showing the facts. The news does not give the facts, the theories do not either it is the charts that are telling the story, but traders need to comprehend the language of the charts.

Gee have I written a book already. Better quit now.
  • #749,394
  • Jun 3, 2023 10:01am Jun 3, 2023 10:01am
Quoting Nala66
{quote} I think you miss the point relating to the 40 pips. That was just mentioned as the example, but pips are pips and profits are something entirely different requiring discipline and strategy not the psychology most people get themselves involved with. (I am generalizing here) Caratacus was using wishful thinking with his much larger army thinking he could defeat the discipline and strategy of the Roman legions. To the Romans it was business with tried and tested positive results whereas Caractacus was just pissing into the wind. We should...
Nala,
A suggestion. Why don't you post your trade entries here with stops and take profits and reasoning so we can all relate to your trading methodology. All I see is cryptic clues in your thread with running comments on what price did for the day. I am afraid it is of no use to me.
Cheers.
Trade to trade another day
  • #749,395
  • Jun 3, 2023 10:16am Jun 3, 2023 10:16am
Quoting Wavegarrick
{quote} Nala, A suggestion. Why don't you post your trade entries here with stops and take profits and reasoning so we can all relate to your trading methodology. All I see is cryptic clues in your thread with running comments on what price did for the day. I am afraid it is of no use to me. Cheers.
Why dont you just trade your methodology AND not worry about it or are just a unprofitable trader like most on here
  • #749,396
  • Jun 3, 2023 10:31am Jun 3, 2023 10:31am
Pre-Trading Analysis : GBPUSD
Date : 03.06.2023
GMT Time :17:13 PM

Trend Change Trigger : 1.25442 – Possible Higher High
Current Trend 4Hrs : Down Trend

An area of resistance has formed at 1.25442 lvl as previously mentioned on my report as traders for whatever reason determined that swing high is a good value. My Principles of Trend Direction states we are in down trend and require to challenge 1.24436 lvl by Bears to break and hold. I have labeled Friday's High on my 4Hr Chart as (X – Unknown ) due to no HH is formed according to my trend change criteria.

Updated Bella's GMT Switch to v 1.1

Bella's Trend Trigger
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Bella's GMT Switch v1.1

Attached Image (click to enlarge)
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Goddess of Thunder..
  • #749,397
  • Jun 3, 2023 11:02am Jun 3, 2023 11:02am
Quoting Bella.al
Pre-Trading Analysis : GBPUSD Date : 03.06.2023 GMT Time :17:13 PM Trend Change Trigger : 1.25442 – Possible Higher High Current Trend 4Hrs : Down Trend An area of resistance has formed at 1.25442 lvl as previously mentioned on my report as traders for whatever reason determined that swing high is a good value. My Principles of Trend Direction states we are in down trend and require to challenge 1.24436 lvl by Bears to break and hold. I have labeled Friday's High on my 4Hr Chart as (X – Unknown ) due to no HH is formed according to my trend change...
Hey pal does the system project with certain probability when a trend changing to sideways/range?
More time in the market, does not mean you trade better!
  • #749,398
  • Jun 3, 2023 11:11am Jun 3, 2023 11:11am
Quoting ninner
{quote} Why dont you just trade your methodology AND not worry about it or are just a unprofitable trader like most on here
Evening ninner would you call yourself a profitable trader or an unprofitable trader?
  • #749,399
  • Jun 3, 2023 11:13am Jun 3, 2023 11:13am
Quoting Nala66
{quote} I think you miss the point relating to the 40 pips. That was just mentioned as the example, but pips are pips and profits are something entirely different requiring discipline and strategy not the psychology most people get themselves involved with. (I am generalizing here) Caratacus was using wishful thinking with his much larger army thinking he could defeat the discipline and strategy of the Roman legions. To the Romans it was business with tried and tested positive results whereas Caractacus was just pissing into the wind. We should...
Nala66, I didn't argue what it takes to be a profitable trader. I merely stated that 40 pips/day is doable, and digging the deeper hole is not prudent, in my belief. I don't have the universal wisdom of what they should do to succeed in the trading business b/c everyone is unique. I only know what has worked for me.
I see many positive stories in this thread.
Always trade your own plan...I don't provide trading signals.
  • #749,400
  • Jun 3, 2023 11:16am Jun 3, 2023 11:16am
Quoting Fardeen1209
{quote} Hey pal does the system project with certain probability when a trend changing to sideways/range?
Hello,

This is Bella's Trend Trigger Identification v1.0.
Features:
-Identify Trend using HH/LL - HL/ LH for Trend Identification
-Identify Upcoming levels where the Swing High or Low is Possible such as 1.25442 in above example for Possible HH
-Create S/R Levels.

Note : this is not for trading decisions but only to identify the market structure on 4Hrs

I use Bella's GMT Switch for Trading Decisions currently at v1.1 ( updates made in the weekend as i get time ) used on 15TF for trading activities.

-Bella.
Goddess of Thunder..
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