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Cable Update (GBPUSD)

  • #771,601
  • Aug 31, 2023 6:53pm Aug 31, 2023 6:53pm
According to the Okun's law, when GDP falls, unemployment rate rises. Two days ago, Us Gdp growth rate came lower than expected and also lower than previous data. However, unemployment rate forecasts didn't rise. Previous data was 3.5%, forecast for today's data is still 3.5%

Okun's law may not work every month, but it is accurate in the long run. So it's importance shouldn't be underestimated.

Trying to predict unemployment rate before it is released is risky, it is better to react after seeing the data. On the other hand, if predicted right, traders will make a lot of pips in a matter of minutes.

Long story short, according to the Okun's law, unemployment will disappoint and GBPUSD will go up.

Again, it is safer to react than predict. Just wanted to share it for the traders who like risky stuff
You have to have an IQ higher than 90 to interact with this user.
  • #771,602
  • Aug 31, 2023 7:22pm Aug 31, 2023 7:22pm
Quoting Nordling
According to the Okun's law, when GDP falls, unemployment rate rises. Two days ago, Us Gdp growth rate came lower than expected and also lower than previous data. However, unemployment rate forecasts didn't rise. Previous data was 3.5%, forecast for today's data is still 3.5% Okun's law may not work every month, but it is accurate in the long run. So it's importance shouldn't be underestimated. Trying to predict unemployment rate before it is released is risky, it is better to react after seeing the data. On the other hand, if predicted right, traders...
Wow!
That's informative and educative. Thanks.
Just hearing of the law for the first time
  • #771,603
  • Aug 31, 2023 7:28pm Aug 31, 2023 7:28pm
Quoting navk
{quote} well, i found again the price attractive to go long, took long. Eventually, again stalled around ( time being ) 2670. So, booked profit. 1.55 % in 200k ac. 0.75 % in 100k ac Definitely calling it a day now. Will goto sleep. So be ready for tokyo open + 1 hr. {image} {image}
Hello Navk,
If I understand correctly, your approach involves adding positions in the direction of the prevailing trend and subsequently closing all of these positions when they reach key levels. Could you provide more details about this strategy? I'm particularly interested in understanding how you identify the trend, determine the key levels, and manage your positions effectively. Your insights would be greatly appreciated.

do I understand it correctly like this pic?
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  • #771,604
  • Aug 31, 2023 7:32pm Aug 31, 2023 7:32pm
Quoting france001
{quote} Hello Navk, If I understand correctly, your approach involves adding positions in the direction of the prevailing trend and subsequently closing all of these positions when they reach key levels. Could you provide more details about this strategy? I'm particularly interested in understanding how you identify the trend, determine the key levels, and manage your positions effectively. Your insights would be greatly appreciated. do I understand it correctly like this pic? {image}
My trades are placed :

Tokyo open + 1 hr

London open + 1 hr

NYO + 1 hr
Intraday only.
  • #771,605
  • Aug 31, 2023 7:43pm Aug 31, 2023 7:43pm
Quoting navk
{quote} My trades are placed : Tokyo open + 1 hr London open + 1 hr NYO + 1 hr
hey navk is there any problem with my forex funds ,the website is not opening
  • #771,606
  • Aug 31, 2023 7:46pm Aug 31, 2023 7:46pm
Quoting kenny4real
{quote} Wow! That's informative and educative. Thanks. Just hearing of the law for the first time
You are welcome buddy. Hopefully it will be helpful. Thanks for the positive feedback
You have to have an IQ higher than 90 to interact with this user.
  • #771,607
  • Aug 31, 2023 7:48pm Aug 31, 2023 7:48pm
Quoting AlfieSolomon
{quote} hey navk is there any problem with my forex funds ,the website is not opening
yes, some regulatory issues. check updates
Intraday only.
  • #771,608
  • Aug 31, 2023 7:50pm Aug 31, 2023 7:50pm
Quoting navk
{quote} yes, some regulatory issues. check updates
i think it is the end for MFF unfortunately
  • #771,609
  • Aug 31, 2023 7:55pm Aug 31, 2023 7:55pm
Quoting AlfieSolomon
{quote} i think it is the end for MFF unfortunately
wait for updates.

September 11 th is first hearing.

Atleast for next 2 weeks, it is frozen.
Intraday only.
  • #771,610
  • Aug 31, 2023 7:58pm Aug 31, 2023 7:58pm
Quoting navk
{quote} wait for updates. September 11 th is first hearing. Atleast for next 2 weeks, it is frozen.
yeah let's see it was my payout day on Sunday
  • #771,611
  • Aug 31, 2023 8:11pm Aug 31, 2023 8:11pm
Within few minutes after tokyo open + 1 hr....

I am done for the day ( Friday ) !!
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Intraday only.
  • #771,612
  • Aug 31, 2023 8:11pm Aug 31, 2023 8:11pm
Quoting Ferna
Hidden
Very disrespectful quote!
Face 'ur fears & tame 'ur greed
  • #771,613
  • Aug 31, 2023 8:13pm Aug 31, 2023 8:13pm
Quoting birdland
{quote} So it is possible to have a normal exchange with you and what you have said now also makes sense. the indicators that were foreign to me, such as "PZ ChartOverlay" or "P4L PeriodCon" or "MTF-donchian-channel". did you find these on FF or how did you come across them? thx ps: i am using a transaltor because i am not an english native speaker;-)
as far as I'm aware, none are commercial and hold no legal issues with use. You can search for them on these ff sites or google them, either to download and use them or to read about them. Yes I appreciate that some people do not normally speak english but that is why we HAVE translators and why I say to people to concept build LONG before doing ANY trading etc. Verbal and written language is a flaw in the learning process. Therefore should never be the only tool used for communication.

Peter

PS - Notice I made no mention of "charts" and "pretty pics" ..... I said concept building. One is not the other in the basic use of context. Until people realize a chart is the end result not the beginning, they're fishing in shadows.
Real Trading is not gambling.
  • #771,614
  • Aug 31, 2023 8:15pm Aug 31, 2023 8:15pm
JereMi256 can put me on ignore all you want, doesn't change anything.
Real Trading is not gambling.
  • #771,615
  • Aug 31, 2023 8:20pm Aug 31, 2023 8:20pm
Quoting Nordling
{quote} Sorry mate, i don't understand anything from the circles and drawings in the chart. Beg my pardon, i will remain a superficial peasant

Just different indications at different points. Each person I have come across on these sites, has their way of rationalizing what they see happening. I'm sure if you felt it necessary to learn about what that digger1 person is doing you could go to their thread and look, but that is not the purpose of what I was speaking about.

Peter
Real Trading is not gambling.
  • #771,616
  • Aug 31, 2023 8:21pm Aug 31, 2023 8:21pm
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yes yes yes
  • #771,617
  • Aug 31, 2023 8:50pm Aug 31, 2023 8:50pm
Quoting TheWraith
{quote} He's either too intelligent (which I doubt) or we're too stupid (which I doubt). He writes in a weird way so nobody can understand anything. Works great if you want people to keep reading and believing there is some wisdom in those words if only they are smart enough... If someone cannot explain in simple language, then he himself doesn't understand what he's actually saying.
You want simple, here's simple ---- stop assuming you know "stuff" and try and wrap your brain around the fact that real life has something to do with what happens on your precious little charts. Most of you are reactive people who trade in the same way so to you "real life" means if a disaster happens etc then the market either moves or not. You're trying to makes sense of something by looking through a door's key hole.

You think if you "study" a chart long enough, you'll expose its "secrets". If you cut the cord between the real outside world then you are begging for scraps in your trading. Most people's general knowledge SUCKS and so to a person who sees more than just sneeky ways to chart trade, it's a real worry. But mostly you have no way to build knowledge that then helps to understand concepts.

It's just lazy, ignorant and as can be seen on these sites, gets you nowhere.

I mean, you got people here talking about stuff that a 10yr old with a good dose of common sense would see right through. Speculating about recessions and manufacturing "stuff" yet, if one bothered to just learn without ANY agenda, then you MIGHT understand BRICS, or past or current recessive pressures etc. People talking about bonds and others talking about auxiliary laws of things and yet no simple truthful foundations.

YOU people are the children who CHOOSE to refer to a crystal ball AKA "the chart" to see what's what. It is literally backwards in process. NOT being nasty in saying this, it LITERALLY is the final thing you would do in a process.

Talking about the USD and this and that. It's a joke.

So THERE is simple for you.

I'm not tryin to be too intelligent. I'm talking about it in ways where you can build knowledge not just be a putz who stares at charts all day and claims to know anything about something. Therefore, I'm not being 'too intelligent' nor you being 'too stupid' you're just being lazy. No motivation strong enough to learn, just yakk online. Time spent is time gone.

Peter
Real Trading is not gambling.
  • #771,618
  • Aug 31, 2023 8:52pm Aug 31, 2023 8:52pm
Quoting TheWraith
{quote} Really... how much easier would it be for us if we only had one TF to look at? Only H1 for example and were not allowed anything else. Makes you wonder... I guess for folks trading only one pair, having multiple TF's isn't a problem, but trading 2 pairs or more is when it becomes a problem. Noone can successfully follow multiple pairs on multiple TF's... I know some people make money on M5 and even M1, but really they're almost useless.. noise. 15M is a little bit better and I would stop at Daily TF, because noone is looking...

See ..... once again lazy. Making assumptions about "what can be done and not done".

Maybe time to lift your personal standards hah??
Real Trading is not gambling.
  • #771,619
  • Aug 31, 2023 8:56pm Aug 31, 2023 8:56pm
Quoting Nordling
{quote} Exactly. If he knows better and much more than us, he should keep it simple for us to easily grasp the concept. If we are too dumb or he is too intelligent he should have known this by now. Looks like he is tryna create mystery or he enjoys confusing us
Either you stay in your little puddle or, stretch your thinking. That is how you learn - get outta your frickin comfort zone and have a go !! SO no mystery or confusion, a person wants to learn then they're motivated to learn not make excuses. So which is it ?

As I said, you're not stupid just lazy.
Real Trading is not gambling.
  • #771,620
  • Aug 31, 2023 9:02pm Aug 31, 2023 9:02pm
Quoting Moty
{image}
Until NYO.... long only
Intraday only.
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