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Cable Update (GBPUSD)

  • #770,261
  • Aug 24, 2023 5:02pm Aug 24, 2023 5:02pm
Quoting dempire1
What do you guys think: What makes a trader profitable? And why so many lose?
1. The idea of going zero to hero. This was my mistake too in the beginning. It is possible, yet it is not sustainable in the long run. Solution: trade with a big money with low risk.

2. Fear of missing out rather than being patient and waiting for the best time.

3. Being too stubborn to accept defeat. Confidence is essential for trading. But not accepting the defeat and even adding to the losing positions is the best recipe for faılure.

4. These were what i have struggled with back in the days. As a result, i lost my confidence for a while. But lack of confidence also made me lose money. I was constantly changing my mind and losing money. So in short, lack of confidence also cause failure.
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  • #770,262
  • Aug 24, 2023 5:10pm Aug 24, 2023 5:10pm
1.2592 held the first attack.
  • #770,263
  • Aug 24, 2023 5:12pm Aug 24, 2023 5:12pm
Quoting dempire1
What do you guys think: What makes a trader profitable? And why so many lose?
What makes a trader profitable?

There are many points to make you profitable, such -
Winning trades greater then losing trades
Following plans
Keeping journal / notes on past trades, reviewing them
Sticking to trading rules, making analysis
Following trend and watching charts

And why so many lose?

Overtrading
Bad Risk Management
Overleveraging
Trading against the trend
Entering trade without any analysis or research

Let's improve for the better
  • #770,264
  • Aug 24, 2023 5:14pm Aug 24, 2023 5:14pm
Quoting navk
{quote} 1.People chase the price. Taking trades at places is important. 2.People Buy when price is falling. 3. People Sell when price is rising.
Risk management
  • #770,265
  • Aug 24, 2023 5:16pm Aug 24, 2023 5:16pm
Price may completely reverse from here..for 100 + pips. ( For friday only )

2590 is entry price. ( From oversold territory )

Stop just 5 pips.

I am not signal provider.. this is my analysis.

Next week, the price may extend downward.
Intraday only.
  • #770,266
  • Aug 24, 2023 5:21pm Aug 24, 2023 5:21pm
Fed is done hiking. USD will dive tommorow and this is very probably the low.

With that in mind, I'm waiting for Asian Session and will Buy as soon as Frankfurt opens.
  • #770,267
  • Aug 24, 2023 5:23pm Aug 24, 2023 5:23pm
GU long or short tomorrow just be careful its not called fuckem fridays for nothing
  • #770,268
  • Edited 5:51pm Aug 24, 2023 5:27pm | Edited 5:51pm
I find the price direction predictions interesting.

For the US$ to rise, this presumes either rising interest rates or a very strong US economy. Neither of these are supported by data.

For the pound to fall we need interest rate increases falling behind US rate increases or a weaker UK economy. These characteristics are more likely.

The detail is that there is no data supporting either of these yet but price is moving. A rational move would be to give up the recent moves if the FED reiterates no new moves. Since this is forex, we all know that rationality doesn't always play a role in the direction of price!
  • #770,269
  • Aug 24, 2023 5:29pm Aug 24, 2023 5:29pm
As promised, sending Mr T and you a postcard from LT.
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I was blessed with the weather for the last 2 weeks, enjoyed my nature walks, swimming in the lakes and sea. Will be heading back to London on Monday.
Tc, J
  • #770,270
  • Aug 24, 2023 5:34pm Aug 24, 2023 5:34pm
Quoting Jolita
As promised, sending Mr T and you a postcard from LT. {image} I was blessed with the weather for the last 2 weeks, enjoyed my nature walks, swimming in the lakes and sea. Will be heading back to London on Monday. Tc, J
Wow, thank you Jolita
  • #770,271
  • Aug 24, 2023 5:39pm Aug 24, 2023 5:39pm
Quoting dantpm
I find the price direction predictions interesting. For the US$ to rise, this presumes either rising interest rates or a very strong US economy. Neither of these are supported by data. For the pound to fall we need interest rate increases falling behind US rate increases or a weaker UK economy. These characteristics are more likely. The detail is that there is no data supporting either of these yet but price is moving. A rational move would be to give up the recent moves if the FED reiterates no new moves. Since this is forex, we all know that rationality...
Why do you think US economy is not strong buddy?

growth rate beat the estimates and the previous data, inflation went up even tho it was less than expected. Core PCE is still at 4.5% Also unemployment rate is very low and it was lower than expected.

These datas show me that us economy still grows despite high rates, inflation is still hot, therefore there's still a strong demand, and labour market is so tight. Even though there will be a recession sooner or later (possibly within a year imo) us economy still looks strong.

I am curious about your take though. Cheers man
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  • #770,272
  • Aug 24, 2023 5:51pm Aug 24, 2023 5:51pm
Quoting Nordling
{quote} Why do you think US economy is not strong buddy? growth rate beat the estimates and the previous data, inflation went up even tho it was less than expected. Core PCE is still at 4.5% Also unemployment rate is very low and it was lower than expected. These datas show me that us economy still grows despite high rates, inflation is still hot, therefore there's still a strong demand, and labour market is so tight. Even though there will be a recession sooner or later (possibly within a year imo) us economy still looks strong. I am curious about...
Unemployment data isn't reliable which is why people focus on employment data. Unemployment data doesn't include professionals, self employed, voluntarily unemployed and more categories that help the statisticians hide the number of unemployed people.
The US is desperate to maintain low inflation so that they can support the US$ as they increase the money supply to avoid raising taxes. The problem is that inflation isn't cooperating. Pay attention to the proposed war with China and the continuing war with Russia (via Ukraine) where the US can't supply munitions according to the US generals. What gives in the equation?
The labor market is tight when it comes to specific skills, it is not tight when it comes to full employment.
The US economy is stretched, not strong! IMHO. Let's watch as the data continues to roll out.
  • #770,273
  • Aug 24, 2023 6:04pm Aug 24, 2023 6:04pm
Quoting dantpm
{quote} Unemployment data isn't reliable which is why people focus on employment data. Unemployment data doesn't include professionals, self employed, voluntarily unemployed and more categories that help the statisticians hide the number of unemployed people. The US is desperate to maintain low inflation so that they can support the US$ as they increase the money supply to avoid raising taxes. The problem is that inflation isn't cooperating. Pay attention to the proposed war with China and the continuing war with Russia (via Ukraine) where the US...
You have a good point. Especially about the employment data. Eye opening. Thanks man
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  • #770,274
  • Edited 6:39pm Aug 24, 2023 6:20pm | Edited 6:39pm
Quoting Nordling
{quote} Why do you think US economy is not strong buddy? growth rate beat the estimates and the previous data, inflation went up even tho it was less than expected. Core PCE is still at 4.5% Also unemployment rate is very low and it was lower than expected. These datas show me that us economy still grows despite high rates, inflation is still hot, therefore there's still a strong demand, and labour market is so tight. Even though there will be a recession sooner or later (possibly within a year imo) us economy still looks strong. I am curious about...
Maybe he was just listening to your advice from only 24 days ago...

You have to update him when you decide to do a total 180-degree flip flop. Or maybe you can just learn how to trade first before posting your crazy rants!
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Trade at your own risk.
  • #770,275
  • Aug 24, 2023 6:25pm Aug 24, 2023 6:25pm
Quoting Fx3423454
{quote} Maybe he was just listening to your advice from only 24 days ago... You have to update him when you decide to do a total 180-degree flip flop. Or maybe you can just learn how to trade first before posting your crazy rants! {image}

You should learn to execute trades
How to succeed in zero sum game?
  • #770,276
  • Edited 6:38pm Aug 24, 2023 6:27pm | Edited 6:38pm
Quoting Zebi
lots of volume on 4H charts today which means just one thing...lower prices i use 6B futures cause the bucketshop forex brokers stay open after futures close for that hour end of day and screw up the 4H charts...id rather see what the big boy professionals are doing rather than the small retail dickheads in the forex brokers {image}

im surprised so many people got surprised today LOL...dont trust your shitbag brokers charts gentlemen ...i called it 23 hours ago LOL.. ..after price does the obligatory touch of that low from underneath it will keep falling


i got ebven more bad news for the bools...weekly price is gona land on those red lines...may take months but will happen as certain as the boogers growing inside your noses and you heard it from zebi first
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short trump and go long the deepstate
  • #770,277
  • Aug 24, 2023 6:29pm Aug 24, 2023 6:29pm
Quoting Waveskierrob
{quote} Quote " I know you don't read my posts but please keep posting your results" cheers FX1234567... {image}
I see your underwater positions are increasing now up to 75!
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Trade at your own risk.
  • #770,278
  • Edited 6:51pm Aug 24, 2023 6:33pm | Edited 6:51pm
Quoting dantpm
{quote} Unemployment data isn't reliable which is why people focus on employment data. Unemployment data doesn't include professionals, self employed, voluntarily unemployed and more categories that help the statisticians hide the number of unemployed people. The US is desperate to maintain low inflation so that they can support the US$ as they increase the money supply to avoid raising taxes. The problem is that inflation isn't cooperating. Pay attention to the proposed war with China and the continuing war with Russia (via Ukraine) where the US...

thing is we will raise taxes...the idiot republicans only ones that want to cut everytime they take a shit

what better way to raise taxes to help pay for a war like WW2...in 15 years usa will be back to those marginal rates of the 1950's


and china fiquered out theyre never gona get their money back on our treasuries thats why theyre getting so belligerent....

dont forget the winner dont have to pay the loser shit after a war
short trump and go long the deepstate
  • #770,279
  • Aug 24, 2023 6:42pm Aug 24, 2023 6:42pm
Quoting Fx3423454
{quote} Maybe he was just listening to your advice from only 24 days ago... You have to update him when you decide to do a total 180-degree flip flop. Or maybe you can just learn how to trade first before posting your crazy rants! {image}
Are u ready for the trading competition or will you keep blabbering?
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  • #770,280
  • Aug 24, 2023 6:57pm Aug 24, 2023 6:57pm
Quoting Nordling
{quote} Are u ready for the trading competition or will you keep blabbering?
Most effective way to shot down a scammer is challenging him lol. Effin chicken

See ya tomorrow everyone!
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