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Cable Update (GBPUSD)

  • #763,841
  • Aug 3, 2023 1:34pm Aug 3, 2023 1:34pm
Quoting Moty
{quote} I am not trading to pay rent I have other money for that I can afford losing all of my equity I just want for 1 time to trade like a pro mf , that all Just 1 time to get control on my emotions and beat the market Last trade end with be {image}
What helped me to get control of myself is trading on Daily TF to be honest. I open the trade, see where SL and TP is and bam, that's it. I have a trade EUR/AUD and price was less than 5 pips to hit TP today and then fell more then 50 pips away from it. Did I take the profit 5 pips sooner then I should have? NO! I think trading on Daily TF has really, REALLY improved my patience. Old me would just close the trade immediately, but not this time. I started to improve in that part of trading, finally!

Perhaps try trading on higher TF then M1 or M5 if you want to work on your patience. It worked for me! For now...

I don't even feel the stress anymore.. nothing! No revenge trading, no cursing big banks etc...

I also think that lower TF's don't even allow one to learn how to stay patient, because you have to act quick depending on what kind of system you're using.

On Hourly TF I get one, maybe two signals top in one day. On M1 or M5 I get 20 signals.

Not only that, but signals on higher TF's are better.
Also, I open the trades and spend perhaps 10, 15 minutes a day and that's it. Old me would stay glued to the screen for hours looking at the price moving. God that was painful and unprofitable.
  • #763,842
  • Aug 3, 2023 1:35pm Aug 3, 2023 1:35pm
Quoting TheWraith
{quote} I started to trade Daily TF only according to what VP preaches about. I'm using 0.01, same as demo, it's testing phase. If it goes well after 6 months I'll start looking for prop firms... who knows.
I've thrown many strategies in the trash over the years because they proved to be bad in testing. the trash can is already full of them.
  • #763,843
  • Aug 3, 2023 1:37pm Aug 3, 2023 1:37pm
Quoting tiborf71
{quote} I've thrown many strategies in the trash over the years because they proved to be bad in testing. the trash can is already full of them.
We have to keep moving and continue to perfect something that we think could work if more improvements are added.
  • #763,844
  • Edited 2:08pm Aug 3, 2023 1:38pm | Edited 2:08pm
Quoting Fx3423454
Just a reminder. If they will lie to slander you, they are lying about everything else too. {image}
there is literally nothing on that picture. What kind of deal? Did you buy or sell? When you exited? It is you who is lying to yourself.


you realise that you don’t show you AUDUSD short in asian session on which you went instantly in drawdown? You cut it out for some reason. Maybe the same reason you deleted that post when you shorted.
How to succeed in zero sum game?
  • #763,845
  • Aug 3, 2023 1:43pm Aug 3, 2023 1:43pm
Quoting Moty
{quote} I am not trading to pay rent I have other money for that I can afford losing all of my equity I just want for 1 time to trade like a pro mf , that all Just 1 time to get control on my emotions and beat the market Last trade end with be {image}
Hats off Moty. I second that.
Trade to trade another day
  • #763,846
  • Aug 3, 2023 1:48pm Aug 3, 2023 1:48pm
the balance has been upset, a northward correction would already be due.
but, there has already been an example of the market continuing to go against logic even then, there will be a correction, but we don't know when.
balance is restored.1.27900
  • #763,847
  • Aug 3, 2023 1:54pm Aug 3, 2023 1:54pm
GU

Next up NFP day.
Expect Friday morning slow grinding up to supply zone taking up LQ.
Real move will be post NFP announcement.

Just my view on this.
Two chart showing expected move tomorrow.
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I come from the future.
Karen X Mas Bonus 2025 All Time Profit: $15,104
  • #763,848
  • Aug 3, 2023 1:56pm Aug 3, 2023 1:56pm
Quoting TheWraith
{quote} What helped me to get control of myself is trading on Daily TF to be honest. I open the trade, see where SL and TP is and bam, that's it. I have a trade EUR/AUD and price was less than 5 pips to hit TP today and then fell more then 50 pips away from it. Did I take the profit 5 pips sooner then I should have? NO! I think trading on Daily TF has really, REALLY improved my patience. Old me would just close the trade immediately, but not this time. I started to improve in that part of trading, finally! Perhaps try trading on higher TF then M1...
I definitely think there's something to be said about just trading the daily, unfortunately that limits the amount of setups you may find. Not good for me as I want to become a funded trader. Although FTMO have recently introduced unlimited trading period. Unfortunately that's on new purchases of the challenge, my free retake next week will still be on old terms .

But yeh trading the daily you could potentially just spend an hour each day looking through all the pairs, indices and commodities to find one that suits your set up. Set SL and TP and go on with your life. No more staring at charts all day so you can spend time doing what truly matters, living life. After all, that is what I believe trading is about.
  • #763,849
  • Aug 3, 2023 1:57pm Aug 3, 2023 1:57pm
HI all. Hope you caught a few pips.
Nice to see price went close to 1.26, good feeling actually. All this latest upwards didn't make any sense to me. UK economy currently at dovish stance. I hope situation will improve.
  • #763,850
  • Aug 3, 2023 2:03pm Aug 3, 2023 2:03pm
1.27 support don't seem convincing at the moment. Maybe 1.26 can hold then back to 1.3?
  • #763,851
  • Aug 3, 2023 2:03pm Aug 3, 2023 2:03pm
Quoting Scotteyy
{quote} I definitely think there's something to be said about just trading the daily, unfortunately that limits the amount of setups you may find. Not good for me as I want to become a funded trader. Although FTMO have recently introduced unlimited trading period. Unfortunately that's on new purchases of the challenge, my free retake next week will still be on old terms . But yeh trading the daily you could potentially just spend an hour each day looking through all the pairs, indices and commodities to find one that suits...
Weekly and Daily are where the Big Time play and its far better focusing on those time frames to do your analysis.... Then in regards to your funded account you trade up or down depending on your view with multiple small positions and bank some of them but leave the best positions on. That way you are increasing the equity on the funded each day but still holding your best positions for a swing... Hope it helps but thats how i do it

PS --- i am not saying this is the best way ( there is no best way imo ) But it should help you pass the Funded
  • #763,852
  • Aug 3, 2023 2:05pm Aug 3, 2023 2:05pm
Quoting Jolita
HI all. Hope you caught a few pips. Nice to see price went close to 1.26, good feeling actually. All this latest upwards didn't make any sense to me. UK economy currently at dovish stance. I hope situation will improve.
yeah proably time to go short. I just closed my longs +40 pip.
i agree with wavegarrick it should go to 1.25
You have an IQ lower than 90 if you interact with this user.
  • #763,853
  • Aug 3, 2023 2:05pm Aug 3, 2023 2:05pm
Quoting princecaleb
1.27 support don't seem convincing at the moment. Maybe 1.26 can hold then back to 1.3?
I personally dont think 126 will hold..
I like analysis and looking to get to 125 / 12480 but i could very well be wrong

https://assets.faireconomy.media/nfs...r223644_52.gif Jolita
  • #763,854
  • Aug 3, 2023 2:09pm Aug 3, 2023 2:09pm
Moving the stop loss above the last top in 1.2706.

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Together we can be strongest
Vantage Return This Month: -97.0%
  • #763,855
  • Aug 3, 2023 2:13pm Aug 3, 2023 2:13pm
Quoting T721
{quote} Weekly and Daily are where the Big Time play and its far better focusing on those time frames to do your analysis.... Then in regards to your funded account you trade up or down depending on your view with multiple small positions and bank some of them but leave the best positions on. That way you are increasing the equity on the funded each day but still holding your best positions for a swing... Hope it helps but thats how i do it PS --- i am not saying this is the best way ( there is no best way imo ) But it should help you pass the Funded...
Yeah you're right. Personally swing trades are the best for me cos I don't have time to be looking at the charts every second. I do most of my analyses on the monthly and sometimes on the yearly before looking at the H4 for setups but it would be boring for most traders lol.
  • #763,856
  • Aug 3, 2023 2:14pm Aug 3, 2023 2:14pm
Quoting Moty
{quote} I am not trading to pay rent I have other money for that I can afford losing all of my equity I just want for 1 time to trade like a pro mf , that all Just 1 time to get control on my emotions and beat the market Last trade end with be {image}
Well there is only one thing to help you if you know what I mean

im kidding. Do sports. Helps you with focus. Not regular gym. Strength training or martial arts or HIIT etc Something to get you really pumped. This way your sleep will get better. If you sleep enough and EAT HEALTHY you will gain more focus and brain power. Jacking off all day will only make it worse you won’t see results in first month. But the more you do the better you become.
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How to succeed in zero sum game?
  • #763,857
  • Aug 3, 2023 2:14pm Aug 3, 2023 2:14pm
Quoting T721
{quote} Weekly and Daily are where the Big Time play and its far better focusing on those time frames to do your analysis.... Then in regards to your funded account you trade up or down depending on your view with multiple small positions and bank some of them but leave the best positions on. That way you are increasing the equity on the funded each day but still holding your best positions for a swing... Hope it helps but thats how i do it PS --- i am not saying this is the best way ( there is no best way imo ) But it should help you pass the Funded...
Thank you for the insight. I've gotten into the habit of adding to winning positions however I've not quite mastered the idea of taking partials. For example, when we spoke on the call I told you about my long trades I was adding to last week tues, weds, thurs and at one point I was up 3.5% on the account. Then the news drop happened and I'm wiped out at break even. Even if I'd have taken 1%-1.5% out as partials the result would have been much better!

As for my personal account I can't really do swing trades on it just yet as the minimum lot size isn't small enough to have suitable risk for my size account. But at the moment my intraday results are on fire, up 66% in the past two weeks, risking 2% per trade. It's just a shame I decided to stop trading the FTMO account to guarantee the free retake because I probably would have actually passed if I hadn't stopped trading it...
  • #763,858
  • Aug 3, 2023 2:16pm Aug 3, 2023 2:16pm
Quoting palpite
sell - 1.2710 2 trades stop loss above the top. first target = 1.2695 {image}
trades closed = 1.2698

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Together we can be strongest
Vantage Return This Month: -97.0%
  • #763,859
  • Aug 3, 2023 2:23pm Aug 3, 2023 2:23pm
Quoting Scotteyy
{quote} Thank you for the insight. I've gotten into the habit of adding to winning positions however I've not quite mastered the idea of taking partials. For example, when we spoke on the call I told you about my long trades I was adding to last week tues, weds, thurs and at one point I was up 3.5% on the account. Then the news drop happened and I'm wiped out at break even. Even if I'd have taken 1%-1.5% out as partials the result would have been much better! As for my personal account I can't really do swing trades on it just yet as the minimum...
We can zoom again over weekend if you want and have the time.. Dont be shy to ask
  • #763,860
  • Aug 3, 2023 2:24pm Aug 3, 2023 2:24pm
Quoting T721
{quote} I personally dont think 126 will hold.. I like analysis and looking to get to 125 / 12480 but i could very well be wrong {image} Jolita
I'm hoping it goes down to 1.25 then 1.23
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