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Cable Update (GBPUSD)

  • #765,841
  • Aug 10, 2023 3:11am Aug 10, 2023 3:11am
Quoting dantpm
{quote} I believe that the convention is that you interpret economic indicators according to their impact on the economy. You interpret financial indicators based on their currency impact. This always gets screwed up IMHO!
No, everything i interpretate is in terms of currency, not economy.
This is the difference between a trader and an economist. An economist will give everything according to how it will affect the economy.
While a trader operate for his own gain, and how he will profit from the situation. There is nothing personal nor we are not the cause behind of any good event or bad event. We just predict which event is more likely to happen, then make most money when it happen and lose the least when it doesnot.

From the movie, The big short, when Ryan Gosling in the last scene look at his $47m check, it tells you everything. They were not the one to cause the crash, but predicted it, and act on it, then when it happened, they banked on it.
More time in the market, does not mean you trade better!
  • #765,842
  • Aug 10, 2023 3:17am Aug 10, 2023 3:17am
looks some news effect . extension over 2741 trying , anyway still waiting for 2735 and 32 limit at risk breaking !can test/ break 2762
Not understand?better not follow my analyses!doubt clearer first, risks ++
  • #765,843
  • Aug 10, 2023 3:21am Aug 10, 2023 3:21am
Quoting PiploEscobar
{quote} How do you know when it's a fake breakout or legitimate breakout?
Honestly i dont really know for sure, i just try to analize PA and volumes on M1 on every candle one hour before london opening
chaos is just unknown order
  • #765,844
  • Aug 10, 2023 3:22am Aug 10, 2023 3:22am
Quoting Fardeen1209
{quote} No, everything i interpretate is in terms of currency, not economy. This is the difference between a trader and an economist. An economist will give everything according to how it will affect the economy. While a trader operate for his own gain, and how he will profit from the situation. There is nothing personal nor we are not the cause behind of any good event or bad event. We just predict which event is more likely to happen, then make most money when it happen and lose the least when it doesnot. From the movie, The big short, when Ryan...
If you 'make up your own conventions', then you are left wondering why people don't understand you
Just a thought. English is typically an imprecise language at best as is demonstrated repeatedly in this forum!
  • #765,845
  • Aug 10, 2023 3:23am Aug 10, 2023 3:23am
Quoting eyefeelsix
Here's my plan before CPI {image}
totally agree with that.
  • #765,846
  • Aug 10, 2023 3:27am Aug 10, 2023 3:27am
Complete setup
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  • #765,847
  • Aug 10, 2023 3:29am Aug 10, 2023 3:29am
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  • #765,848
  • Aug 10, 2023 3:33am Aug 10, 2023 3:33am
Quoting Fx3423454
{quote} Stop focusing on my winning trades and help out your buddy. His trades are getting crushed! Now go away, I don't have time for your nonsense! {image} {image}

GU


Thank you for your comment.
Unfortunately, I only accept constructive and real time comments.


As I have mentioned before, I admire those who provide their views and comments in real time.
Hindsight comments are not helpful and only serve to embarrass me.

Our group is small (less than 500 members).
If you truly want to help me as a newbie or demonstrate your superior trading skills, please do so in real time.
Hindsight comments are simply a cheap way to embarrass others or discredit traders real-time trade calls.

You should be able to demonstrate your own individual skills to show your competence.
Discrediting me will not elevate your status as an Alpha trader in this thread.

In the future, I would like to request that you provide real-time constructive feedback.

I have noticed that your negative hindsight comments are only directed at my negative trades.
However, when I make successful trades, you remain silent.

This is how we, as Asians value and cultures, believe traders should grow together: by providing real-time constructive feedback to each other.
I agree that we can disagree on each other's setups, but this is how we learn from each other.

If you continue to provide hindsight comments, you will soon join the Karen club, where members make perfect 20/20 trade calls using hindsight.

Now time to enjoy my crushing trades.....(pun intended)


NOTE :
This was the trade call made 23 hours ago. I don't spend much time looking at chart now aday. Only few hours except High Impact Data release day.

Pat Chiko
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P/S Closing weak position.............lol.
I come from the future.
Karen X Mas Bonus 2025 All Time Profit: $15,104
  • #765,849
  • Aug 10, 2023 3:38am Aug 10, 2023 3:38am
Quoting dantpm
{quote} I believe that the convention is that you interpret economic indicators according to their impact on the economy. You interpret financial indicators based on their currency impact. This always gets screwed up IMHO!
The CPI Affect Interest rate = Interest rate affect GDP/Employement.

When GDP is strong, meaning the economy can hold more interest rate than its current level without putting the country into a recessionary phases. As a result, the higher interest rate attract foreign investment- yield seeker - they buy the country's currency (Appreciation).

When the GDP is weak (around 0.1% to -0.1%), when CPI is rising, Meaning CB need to raise interest rate. But given the GDP is already weak, the rising interest - makes borrowing costlier [to finance consumer demand and domestic investment(Housing, business loan..)], hence act as a burden on instruments which would otherwise make the GDP stronger. However, the fear of recession (high unemployement, government crack down (they will unable to repay interest on the bonds), or something may break(housing market, financial market) make new investment reluctant to invest in the country.
Hence,
#1 New money are reluctant to invest in the country.
#2 Existing money may want a way out, because forget about getting a return, they run the risk of not getting back their initial capital invested.
These 2 amongst many other reasons, make a sell off of the country's currency (depreciation)


See how Pakistan have high rate of interest but literally are not attracting individual investment in their government securities. IMF and Chinese government need to bail them out. Even tho it is a country of high interest.

The same concept applied to bond rating, the lower the rating the higher the interest rate, and the higher the risk of the issuer to go bankrupt and not be able to return your initial investment (par value i think they called it)-
More time in the market, does not mean you trade better!
  • #765,850
  • Aug 10, 2023 3:38am Aug 10, 2023 3:38am
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  • #765,851
  • Aug 10, 2023 3:39am Aug 10, 2023 3:39am
Yesterday
2 short trades, both stopped out...not my day
Trade well!
  • #765,852
  • Aug 10, 2023 3:41am Aug 10, 2023 3:41am
Quoting dantpm
{quote} If you 'make up your own conventions', then you are left wondering why people don't understand you Just a thought. English is typically an imprecise language at best as is demonstrated repeatedly in this forum!
Our focus is not on how it hurts the economy directly but on how the effect of the hurting or flourishing economy affect the external value of its currency. This is where, we (as a currency trader) make or lose our money.


I didnt make up these conventions, the one who created these theories- Keynesians and Monetarists did
More time in the market, does not mean you trade better!
  • #765,853
  • Aug 10, 2023 3:41am Aug 10, 2023 3:41am
Quoting PiploEscobar
{quote} How do you know when it's a fake breakout or legitimate breakout?
With hindsight analysis.
To free Gazans of Hamas, use whatever it takes.
  • #765,854
  • Aug 10, 2023 3:45am Aug 10, 2023 3:45am
Quoting Pat Chiko
{quote} GU Thank you for your comment. Unfortunately, I only accept constructive and real time comments. As I have mentioned before, I admire those who provide their views and comments in real time. Hindsight comments are not helpful and only serve to embarrass me. Our group is small (less than 500 members). If you truly want to help me as a newbie or demonstrate your superior trading skills, please do so in real time. Hindsight comments are simply a cheap way to embarrass others or discredit traders real-time trade calls. You should be able to...

This is not a real time trade unless i am missing something here, yesterday you entered at 2751 the trade went into a lot of drawdown , however i do not know your tolerance on that. Today in hindsight your chart reappears with a new trade with an entry more or less at the bottom of the swing with a perfect entry. I am not disputing this is a live trade , however this is posted after the fact and you should abide by your own standards.
Follow The Markets Structure - Patience and Discipline
  • #765,855
  • Aug 10, 2023 3:46am Aug 10, 2023 3:46am
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  • #765,856
  • Aug 10, 2023 3:50am Aug 10, 2023 3:50am
Quoting pipfarm
{quote} This is not a real time trade unless i am missing something here, yesterday you entered at 2751 the trade went into a lot of drawdown , however i do not know your tolerance on that. Today in hindsight your chart reappears with a new trade with an entry more or less at the bottom of the swing with a perfect entry. I am not disputing this is a live trade , however this is posted after the fact and you should abide by your own standards.
Bravo.
Trade to trade another day
  • #765,857
  • Aug 10, 2023 3:51am Aug 10, 2023 3:51am
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  • #765,858
  • Aug 10, 2023 3:52am Aug 10, 2023 3:52am
  •  FxChi
  • | Joined Dec 2007 | Status: Cash Rules Everything Around Me | 749 Posts
Quoting FxChi
{quote} I'm with this thinking too, more or less. Thinking the stops between 2685 - 2660 need to be swept before we move up to 2830. I'll be waiting for a good entry depending on how the market unfolds.
Stops didn't bust. That's nice haha! Just went long @1.2761, 30 pip stop, targeting 1.2830 area.
"Wishful thinking dies hard." Igor T.
  • #765,859
  • Aug 10, 2023 3:53am Aug 10, 2023 3:53am
Quoting Fx3423454
SHORT AU
SHORT EU
SHORT GU
SHORT
If you and Karen chooses to focus on the hindsight comment, it will be to your detriment.
The above trade call was made 16 hours ago. (to your link)

I do not care about other trades, escpecially your trade call.
But I want to make it clear that if you have a comment, please make it constructive and in real time.
Hindsight comments are a waste, of the reader's time.

I will not react to your hindsight comments.
Instead, I will simply post the charts of the trades I made against you.

I do not usually do this, but I believe you need to be taught a lesson on how to participate positively in a forum to grow as an aspiring trader.
Hindsight comments are not helpful.
They are simply a way to gloat over someone else's mistakes.

If you truly want to help other traders, provide constructive feedback in real time.
I am confident in my trading skills.
I am willing to share my trades and insights with others, but I will not tolerate being disrespected.
If you continue to make hindsight comments, please share it with Karen and her follower, we do not have time for people who are not interested in helping others grow positively and in real time.

AU
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EU

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GU
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I come from the future.
Karen X Mas Bonus 2025 All Time Profit: $15,104
  • #765,860
  • Aug 10, 2023 3:55am Aug 10, 2023 3:55am
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