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Cable Update (GBPUSD)

  • #767,041
  • Aug 14, 2023 11:19am Aug 14, 2023 11:19am
idk i really want to jus make 20$ so im officially profitable but recently have been very hesitant with trading
  • #767,042
  • Aug 14, 2023 11:20am Aug 14, 2023 11:20am
Quoting Fx3423454
{quote} Why are retail traders always on the losing side of the trade? This isn't a dig or sarcasm. I really want to know why? Did you know that retail traders are so consistently on the wrong side of the trade that profitable trading strategies have been built around simply trading in the opposite direction of retail traders?
It's true.. look at NZD/CHF for example. Staggering 99% of clients are net long. Everyone is buying the "dip". Eventually, they will be right, because a currency cannot lose it's complete value against the other, but...

Big Banks: look at all this free money...
  • #767,043
  • Aug 14, 2023 11:20am Aug 14, 2023 11:20am
this is my take on the dollar....i posted this last night in gold thread
https://www.forexfactory.com/thread/...8#post14534268

and i posted this cjhart to an irc chartroom years ago when biden won...pretty soon ill go back and beat em over the head with it those fascist knumbskulls ..you can see the date i posted it there in left corner


now look at it..heres the update we passed obama hi and will probably get to clinton hi in bidens second term

dems love a strong dolla..republicans like killing it cause of tax cuts
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short trump and go long the deepstate
  • #767,044
  • Aug 14, 2023 11:23am Aug 14, 2023 11:23am
Quoting aHydrozx
{quote} true i guess but its jus really annoying how imma loose alot of money and my brother thinking about how day trading is not profitable
losing in the beginning is called tuition

you got to pay it
short trump and go long the deepstate
  • #767,045
  • Aug 14, 2023 11:25am Aug 14, 2023 11:25am
Quoting LifeRider
{quote} It hit the most recent daily low, so in my books it has the right to go up. No change on the hourly yet. {image}
We're at the same level as we started the descent this morning. If the red line gets broken, looking for shorts on the 5 min chart is valid again.
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Just to be clear - I'm learning - this is not a signal. I'm dumb - don't follow me.
I have no clue where it's going
  • #767,046
  • Aug 14, 2023 11:30am Aug 14, 2023 11:30am
Quoting TheWraith
{quote} It's true.. look at NZD/CHF for example. Staggering 99% of clients are net long. Everyone is buying the "dip". Eventually, they will be right, because a currency cannot lose it's complete value against the other, but... Big Banks: look at all this free money...
Eventually they will be right after their account is blown and they check NZD.CHF in 3 months from their cell phone on their bathroom break while working their job at McDonald's.
Trade at your own risk.
  • #767,047
  • Aug 14, 2023 11:30am Aug 14, 2023 11:30am
Quoting Fx3423454
{quote} Why are retail traders always on the losing side of the trade? This isn't a dig or sarcasm. I really want to know why? Did you know that retail traders are so consistently on the wrong side of the trade that profitable trading strategies have been built around simply trading in the opposite direction of retail traders?

One of the main reasons is because they see a trend as a reversal when it is in-fact a correction , a lot of market structure has been taught incorrectly because we have to take into account at least two degrees of swings on our charts in order to make the right decisions. Nothing wrong with trading a correction but you have to look for a trend against which is a correction itself and this confuses traders because of the belief systems that have been put in place by false information regarding trends.
Follow The Markets Structure - Patience and Discipline
  • #767,048
  • Aug 14, 2023 11:31am Aug 14, 2023 11:31am
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yes yes yes
  • #767,049
  • Aug 14, 2023 11:32am Aug 14, 2023 11:32am
Quoting Fx3423454
{quote} I just know what I'm doing and don't have a political bias involved in my trading. I could be from Timbuctoo, and I would still see the same thing. It's OK to have a political agenda but it's not OK to lose money. People in here love to lose money and lie about their trading results by only closing their winning trades and hiding their open floating losing positions.
well for me i stopped with any direction bias for daytrades atleast unless there is something big.
it would be silly of me to mention any of my positions here, since i always play opportunities rather than direction.
I noticed im more profitable with 50% win rate than my 90% win rate. Maybe more calculations to do, but atleast it gives me some exercise. Should study more probability mathematics though. I think people just might be lazy to study.
You have an IQ lower than 90 if you interact with this user.
  • #767,050
  • Aug 14, 2023 11:34am Aug 14, 2023 11:34am
Quoting LifeRider
{quote} We're at the same level as we started the descent this morning. If the red line gets broken, looking for shorts on the 5 min chart is valid again. {image} Just to be clear - I'm learning - this is not a signal. I'm dumb - don't follow me.
Look at the same thging on my supply demand chart...
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DayTradeMonkey
  • #767,051
  • Aug 14, 2023 11:43am Aug 14, 2023 11:43am
Quoting pipfarm
{quote} One of the main reasons is because they see a trend as a reversal when it is in-fact a correction , a lot of market structure has been taught incorrectly because we have to take into account at least two degrees of swings on our charts in order to make the right decisions. Nothing wrong with trading a correction but you have to look for a trend against which is a correction itself and this confuses traders because of the belief systems that have been put in place by false information regarding trends.
you need to know when to open a position so that ALGO does not blow up the account.
  • #767,052
  • Aug 14, 2023 11:44am Aug 14, 2023 11:44am
Quoting TheWraith
{quote} It's true.. look at NZD/CHF for example. Staggering 99% of clients are net long. Everyone is buying the "dip". Eventually, they will be right, because a currency cannot lose it's complete value against the other, but... Big Banks: look at all this free money...
hmm.. let me try buy a small lot and see what happens.
You have an IQ lower than 90 if you interact with this user.
  • #767,053
  • Aug 14, 2023 11:48am Aug 14, 2023 11:48am
Quoting Moty
{image}

how come when i click your chart to see it better it wants to download to my computer?

i deleted em without opening
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short trump and go long the deepstate
  • #767,054
  • Aug 14, 2023 11:56am Aug 14, 2023 11:56am
Quoting Zebi
{quote} moved to 2680
moved sl on remaining to 2690
short trump and go long the deepstate
  • #767,055
  • Aug 14, 2023 11:58am Aug 14, 2023 11:58am
Quoting tiborf71
{quote} you need to know when to open a position so that ALGO does not blow up the account.
Everytime
POSTMASTER
  • #767,056
  • Aug 14, 2023 12:09pm Aug 14, 2023 12:09pm
Quoting Pat Chiko
{quote} GU Final Correction of 2C before the actual Waveskie 3 kicks in.{image}
So if it's a Waveskie wave does that mean no TP or SL - just winging it?
  • #767,057
  • Aug 14, 2023 12:18pm Aug 14, 2023 12:18pm
Quoting Ferna
{quote} yeah i guess trends are different things in different asset classes too?

In my experience all the same, however there is a difference between a corrective trend and an impulse trend.
Follow The Markets Structure - Patience and Discipline
  • #767,058
  • Aug 14, 2023 12:18pm Aug 14, 2023 12:18pm
Quoting aHydrozx
{quote} true i guess but its jus really annoying how imma loose alot of money and my brother thinking about how day trading is not profitable
For most that try it, it is not profitable. And for the few that find it profitable, they have so little money to put into an account that even with leaving all of the profits in the account, it takes YEARS before the account equity is large enough to be able to make any worthwhile withdrawals. That is why you see the prop firms being so popular--a source of capital as long as you can maintain their rules.
To free Gazans of Hamas, use whatever it takes.
  • #767,059
  • Aug 14, 2023 12:20pm Aug 14, 2023 12:20pm
Quoting Wavegarrick
{quote} Off setting trades. Hedge sell trades vs buy trades. Closed 7 buy trades vs 2 sell trades = 42 pips profit today. One buy trade locked at break even and some. I have many trades up yonder and down under to offset stuff ups, which fortunately I have not touched yet. Caution to the wind. I am a short, medium to long term trader and it is nothing to have a trade in 75 to 100 pips draw down. Please do not compare me to a day trader as I have nothing in common. Range conditions is a long term traders nemesis but there is a work around, as I have...
For now a target of my weekly pivot at 1.27238 at least. The down move has been shallow which tells me it is corrective. Daily close and hold above 1.2750 should accelerate Bulls.
Cheers.
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Trade to trade another day
  • #767,060
  • Aug 14, 2023 12:25pm Aug 14, 2023 12:25pm
Quoting GeePee
DXY still above 102.80.... if it crosses, GBPUSD will fly. {image}
"if"
Just follow the price, without using if, hope, believe, expect. We would make lesser trading mistakes. Fewer mistakes, lesser capital wasted, more money available to cover margin of the next trade. Next trade worked = more money to cover the next 5 trades.

My 2 cents.
More time in the market, does not mean you trade better!
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