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Cable Update (GBPUSD)

  • #761,321
  • Jul 26, 2023 12:04pm Jul 26, 2023 12:04pm
Quoting Pat Chiko
{quote} EU I lost count on how many trades I took out. Then put in again, and repeat the process at every S&R level. All of my stop-loss levels are automated. I have set up criteria for my algorithm to hard stop any trades, regardless of the scenario. My focus on the chart, and let the machine do the hard work, only then the P&L will settle by it self. By end of trading session, I will start to reconcile. {image}
there is no thing called perfection in forex
it is almost impossible to pick up the bottoms or tops of swings that are made in the market everyday
and you are doing that pretty well and everyday
your days are always on point... and you close on point as well
and there are no tp shown, no sl shown
what is that system which keeps the tp and sl hidden and when time comes that system auto cut the trade in minimum loss
how fast your sytem predict that now its time to get out of the trade

and how you are able to patiently wait for the pefect price almost everytime
because at each and every tick price
a human mind will think that this can be bottom, price may hit this and fly up let me open buy
so he will not wait and whenever he buy or sell markett will always prove him wrong for a quite pips and then human mind thought aww i should wait a little bit more, awww i would have bought here.... but your trades are on point... howw??? you are always right

you should have millions of prop fund capital
you should have been paerticipating in every competition and always top rank achiever but you doing none of these
you just doing your trading, just showing charts... telling you have some algorithm, system that automatic do everything
why don't you share and tell about that system so that can be helpful for us
just sharing charts may not help
whats in your mind
whats in your laptop
whats in your bucket
whats that algorithm, machine, system you talking about??
  • #761,322
  • Jul 26, 2023 12:08pm Jul 26, 2023 12:08pm
Quoting dantpm
{quote} There are other possibilities: -More or less than average impact. -rate increase is already priced in, so if the rate increase doesn't happen, price moves in the other direction or spikes and reverses.
I calculated the average of all fed rate hikes in 2023 and got the average of 77. Of course, highest was 114 and lowest around 57 something like that. How was I calculating? I took the whole Hourly candle range to measure the complete impact in that particular hour, because the first hourly is the most important. What later comes isn't considered an impact in my opinion, so we just want to know the measure of the hourly candle range that news seems to produce when released.

Of course, it can be around 50 pips hourly candle or it could be above 100, but some average seems to be around 75 pips.
Can't wait!
  • #761,323
  • Jul 26, 2023 12:13pm Jul 26, 2023 12:13pm
GBP/USD Daily Chart

Price has hit R2 (gray line) and exactly bounced off of it.

Now, bulls are either done and price is going down today and probably to visit blue line down @ 1.281 and MA's will cross signalling Short is in order or daily closes above both gray and yellow lines (resistances) and denying the Short signal which would be otherwise be taking place if price goes down or stays put.

Extremely important day for determining direction on GBP/USD.


H4 S1 ~1.289
S2 ~1.286

Below that it should be game over for Bulls.

H4 R ~1.301 sharp!
Attached Image (click to enlarge)
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  • #761,324
  • Jul 26, 2023 12:13pm Jul 26, 2023 12:13pm
I am perfectly fine with my grid system. it doesn't matter where the price goes, just let there be volatility.
  • #761,325
  • Jul 26, 2023 12:15pm Jul 26, 2023 12:15pm
Quoting Ferna
{quote} It's all on Youtube man, ICT's channel. https://www.youtube.com/watch?v=zA4yKKeq6Yw

How long have you personally traded his methods?
How to succeed in zero sum game?
  • #761,326
  • Jul 26, 2023 12:22pm Jul 26, 2023 12:22pm
This could be a spike up and then down on press. We'll see..
Time to rest for a little bit before it starts.
  • #761,327
  • Jul 26, 2023 12:25pm Jul 26, 2023 12:25pm
Quoting dempire1
{quote} How long have you personally traded his methods?
This what i started out with, now i'm just memorizing and comparing numbers.

Inserted Video
You have an IQ lower than 90 if you interact with this user.
  • #761,328
  • Jul 26, 2023 12:29pm Jul 26, 2023 12:29pm
Quoting Ferna
{quote} This what i started out with, now i'm just memorizing and comparing numbers. https://www.youtube.com/watch?v=r_qk3CbzpoA


soo after a year of hard work and study you still don't have positive P/L is that what you're saying?
How to succeed in zero sum game?
  • #761,329
  • Jul 26, 2023 12:31pm Jul 26, 2023 12:31pm
Quoting TheWraith
{quote} I calculated the average of all fed rate hikes in 2023 and got the average of 77. Of course, highest was 114 and lowest around 57 something like that. How was I calculating? I took the whole Hourly candle range to measure the complete impact in that particular hour, because the first hourly is the most important. What later comes isn't considered an impact in my opinion, so we just want to know the measure of the hourly candle range that news seems to produce when released. Of course, it can be around 50 pips hourly candle or it could be...
I'm not expecting FOMC to be so impactful tonight.
I could be wrong, as being wrong is the first 50% of my plan.

Reasoning,
If FED deliver 25bps:
#1 The 25bps fully priced in, we can see USD fall by less than 0.5%- TA- DJIA USDolla' - LHsLLs 1hr
#2 If a hike was already priced in- when the rumours buyers are exiting their position, it creates a selling pressure (Closing Longs/Take profit on Longs) but not the same pressure as the shorts.
#3 Another 25bps before EOY or this one becomes the final hike, FED data driven. We will have 2 month worth of data before SEPT FOMC. These data will in fact determine the probability for the need of another rate hike or not

If FED Decide to skip today
#1 CPI headline been falling significantly- become a hawkish disappointment- quite a decent shift in yield curve to price out this hike. Could significantly put pressure on USD - GU and all dollar-denominated assets will I believe I can Fly
#2 However, chance to happen,LOW. Service Inflation, is quite immune to Interest rate compare to manufacturing and production. So they will try not "Fuck Around and Find out". Could be backfire on them.

Chance for scenario 1 > 2.
My 2 cents, could be wrong
More time in the market, does not mean you trade better!
  • #761,330
  • Jul 26, 2023 12:33pm Jul 26, 2023 12:33pm
https://www.forexfactory.com/thread/...4#post14512114

adjusted & updated... 411
Attached Image (click to enlarge)
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  • #761,331
  • Jul 26, 2023 12:33pm Jul 26, 2023 12:33pm
Quoting dempire1
{quote} soo after a year of hard work and study you still don't have positive P/L is that what you're saying?
Indeed. I am very unprofitable trader.
You have an IQ lower than 90 if you interact with this user.
  • #761,332
  • Edited 12:56pm Jul 26, 2023 12:37pm | Edited 12:56pm
Quoting Ferna
{quote} Indeed. I am very unprofitable trader.
fiddler heads CS pan fried any embassy know how to straddle issues....cash troedeau niNtro new faces....cabinet shuffle.... on the pROOF MIAction...reaction no surge in price...sergeant in arms hugs all around...
  • #761,333
  • Jul 26, 2023 12:46pm Jul 26, 2023 12:46pm
Quoting Pat Chiko
{quote} I think , i know the probelm. But I cannot write too long, as English is not my 3rd language. Thus suffice, I give you a pic to resolve it.{image} P/S close some tabs will helps
Thank you for your help.
  • #761,334
  • Jul 26, 2023 12:46pm Jul 26, 2023 12:46pm
Quoting tradexyz
{quote} fiddler heads cpan fried any embassy know how to straddle issues....cash troedeau niNtro new faces....cabinet shuffle.... on the pROOF
Are these lyrics of some song or somethng?
  • #761,335
  • Jul 26, 2023 12:48pm Jul 26, 2023 12:48pm
Quoting Fix-it
{quote} Hi again I tried this but it does not work still.
Problem solved, I closed every thing and the computer as well. and when i restarted it every thing is back to normal. Thank you for your help
  • #761,336
  • Jul 26, 2023 12:50pm Jul 26, 2023 12:50pm
Quoting Fardeen1209
{quote} Log out and log in again
I had to close the computer and then restarted it , it works now Thank you
  • #761,337
  • Jul 26, 2023 12:52pm Jul 26, 2023 12:52pm
Words are out Powell will be quite hawkish. If Powell mentions anything resembling additional rate hikes may be necessary or infation still too high which is exactly the same shit, I will be Selling I think.

So, the game plan is: expecting spike up and hawkish Powell with a drop to follow after.
  • #761,338
  • Jul 26, 2023 12:57pm Jul 26, 2023 12:57pm
Quoting BrainBucks
{quote} Are these lyrics of some song or somethng?
TOPS a SECRET GE heim match SAS assessments...blackwatch...KIA cadeaux fwiw... nokia snipers...like the moves...
Attached Image (click to enlarge)
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  • #761,339
  • Jul 26, 2023 12:59pm Jul 26, 2023 12:59pm
Quoting genuine007
{quote} when price goes against you... show show screenshot that sl is taken, when in previous images there is no sl shown how your trades automatically gets closed in sl?? what you use some EA or robot?? and when price keeps going in your favour you show scale in images... how you able to hold your trades?? don't you fear that it will turn in your losses?? what is your equity and whats your risk per trade.. we have seen you trade everything... and enter lots like 3.00 x 20 or 25 mannnnn.. unable to understand youuu what are you doing...

TO : genuine007
(Im yet to proof read my post yet, as I need to focus on FOMC.)

Cool Bro.
Thanks for reaching out.
I'm happy to help, but I need to clarify a few things first.

Are you asking me a question, or are you venting your frustration?
If you're venting, I'm happy to listen and offer support. If you find your system is not working, sacrifice more time to improve it.
Venting it won't help in any ways.
If you have a question, I'll do my best to answer it.


Q1 "no sl shown how your trades automatically gets closed in sl??"
I use an algorithm to manage my trading account, and adjusting SL losses automatically as the price progresses and my capital status changes.
I do not keep my stop losses with my broker, as they are known to spike them whenever they feel like it.
I do not want to give my broker any clues about where my stop losses are. All are within my Algo progremm.


Q2 "when price goes against you... show show screenshot that sl is taken"
I have had losses, but you will need to scroll back a bit and make some effort to look through all of my posts with stop losses taken out of my positions.
As of today, my algorithm shows that 342 stop losses have been taken out.
You can go through all of my posts, even those from this year (2023), and you will see plenty of them.

Q3 "when price keeps going in your favour you show scale in images..."
I use support and resistance, as well as price action, to identify trade opportunities.
I document my trading decisions in advance, so that I can track my performance and identify areas for improvement.
This allows me to trade with foresight, rather than hindsight.
You can find plenty of example of my foresight posting.
Just need a bit of effort to find it.

Q4 "how you able to hold your trades??"

Balls and knowledge in fundamentals.

The truth is that when you have enough experience, trading is just like driving a car.
It takes about two years to break even, and by the third year, everything is smooth sailing with the occasional thunderstorm or patch of bad weather to contend with.

The size of your account doesn't matter; what matters is your system and how you handle pressure.

Just look at yesterday's EUR/USD trades. (all posted in this thread)
The pair was in negative drawdown (you can scroll back on yesterday's history).
I approached the situation by adjusting my strategy to "averaging up," as the structure was still holding strong for the bulls to make a quick comeback.

You might ask me how confident I was in making averaging up on EU trades in negative drawdown. ?
The answer lies in the price structure of EUR/USD and its fundamentals/economics.
I had a high degree of confidence because I had been following the pair for some time and I understood the factors that were driving its price.
I also had a well-defined trading system that I had backtested and refined over more than three years.


Q5 "don't you fear that it will turn in your losses?? "
Do I fear losses? No.
I do not fear losses because I have a well-defined trading system and I am confident in my ability to identify trade opportunities.

I also have a risk management plan in place, so I know how much I am willing to lose on any given block trade.
If a trade goes against me, my algo will simply cut my losses and move on.

I do revenge trade, as this is a surefire way to to get back my losses plus extra. (not recommendatied fortraders with less than 3 years of experience)
You can check all my revenge trades posted in many threads.

I have never let fear of losses prevent me from making money.
If you look at my past postings, you will see that I have a very disciplined approach to trading.
I do not let my emotions get the best of me, and I always stick to my trading plan.

I have no fear of losses whatsoever.


Q6 "what is your equity and whats your risk per trade"
Scroll back to my previous postings.
All of my trading information is there, including my equity, leverage, and risk per block.
I use block trades, not single trades, as this is a more efficient way to trade large amounts of capital.
I also run seven accounts with multiple brokers, which allows me to diversify my risk and maximize my profits.


Q7 " lots like 3.00 x 20 or 25 mannnnn"

Trading lot size is just a number.
The size of your trade does not matter if you are wrong, you will still be stopped out.
However, you need to start small to build your account and then gradually increase your lot size as you gain experience and confidence.

For example, a 20-lot trade would be like a leisurely walk for a seasoned trader, while a 30-lot trade would be like a brisk jog.
A 50-lot trade would be like a sprint, and a 0.5-lot trade would be like a 24 hours marathon.

Just like driving a car, you need to start with small increments and gradually increase your speed as you become more comfortable.
You should not trade with a 0.5-lot size forever, as you will not be able to generate enough profits to grow your account.

If you want to quit trading before the age of 45, you need to start scaling up your lot size now.
This will allow you to generate more profits and reach your financial goals sooner.

I want to quit in few years, and let my Proprietary Trading Firm up and running first.
Still got a lot of paper work to get done.

Q8 " unable to understand youuu what are you doing"
I am not here to teach others how I trade.
Everyone trades differently, with their own risk-reward ratios, trading systems, and fundamental and economic guidelines.

I do share these details in my postings, as they would be much information to begin with, even it will not able to cover in a single post.

If I were to share all of my trading knowledge, I could write a book on the subject.
However, I believe that it is more important for traders to develop their own trading systems and strategies.
This will allow them to trade in a way that is consistent with their own risk tolerance and trading style.

I am happy to share my general trading principles and insights, but I do not believe that it is possible to teach someone else how to trade successfully.
The best way to learn how to trade is to experiment and learn from your own mistakes.

Observe hoe I approach trading by using Support & Resistance

The End

Please write in a more systematic way.
I do not mean to belittle you, but your writing style is all over the place and unsystematic. I can forgive grammar or typo, but unsystematic is nay, nay.
This is just a reflection of how you handle trades and life in general.
To improve your trading results, you need to be more systematic in your approach.

This means taking one small step at a time, being calm and focused, and breathing deeply.
If you can do this for six months, you will be amazed at how much your trading results improve week by week.

If you have any questions, please do not hesitate to ask for clarification.
However, please be sure to write in a clear and concise manner.
Once I know what you are looking for, we can walk through your concerns point by point.
I am here to help in any way I can.
If I can't answer it, somebody better will step in.

Best Wishes and trade well

Pat Chiko.

P/s time for FOMC.
Onya Marx, Get Set.... GO.
I come from the future.
Karen X Mas Bonus 2025 All Time Profit: $15,104
  • #761,340
  • Jul 26, 2023 1:04pm Jul 26, 2023 1:04pm
Rate unchanged, trend continues
271 traders viewing now, 1 is registered:
harryatrader