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Cable Update (GBPUSD)

  • #775,161
  • Sep 15, 2023 11:50pm Sep 15, 2023 11:50pm
Quoting iusman23
Hello mates, I am new to the trading, it's been 3 weeks I am trading with my funded account and cannot make profit. I am so confused with GBP/USD. My personal analysis says it will hit 1.2300 and them might go bullish to 1.2500 or maybe higher. Can someone help me to understand if I am right or wrong and if yes then why? and if no, then why? It will really help me a lot. Also, if there is some expert or an experienced trader who can get in touch with me out of this forum. It would be great to learn from him/her.
I will give the same advice as always: stay away from this rollercoaster, find a 9-5 job

90% of traders fail in the long run. For the successful 10%, life is not fun and games either. No lambos, no private jets etc. They are just advertising. So even if you make it to the 10% will it worth it? Ask yourself this, before investing your years.

For me and many guys here, it is about being right not about the money. No matter if i make 1000$ or 10$ the joy i get is the same. It's a passion, even an obsession for me. So i don't mind spending time & money on this. If you feel the same way about trading, try it of course!

But if you think you gonna make a lot of money, well, reality may disappoint.

Not trying to be negative, just cold hard sincere truths mate. I wish you a good luck in your journey!
You have to have an IQ higher than 90 to interact with this user.
  • #775,162
  • Sep 16, 2023 12:09am Sep 16, 2023 12:09am
Quoting Nordling
{quote} I will give the same advice as always: stay away from this rollercoaster, find a 9-5 job 90% of traders fail in the long run. For the successful 10%, life is not fun and games either. No lambos, no private jets etc. They are just advertising. So even if you make it to the 10% will it worth it? Ask yourself this, before investing your years. For me and many guys here, it is about being right not about the money. No matter if i make 1000$ or 10$ the joy i get is the same. It's a passion, even an obsession for me. So i don't mind spending...
I am sincerely agreeing with you on this. But, I always wanted to do something where I put my extra time and get a little amount of money. I used to be a photographer and got an Instagram page. Later, I found out it was just an extra cost but not paying me off. I got only fame.
It's been a year since I was off my hobby and not posting on my page anymore. Finally, a friend of mine developed my interest in Forex Trading. I found out that this is quite fun and pays off. I do not want to earn a lot. All I am aiming for is, that in future, I will move from my country as a student (somewhere in Europe). If I can make a few dollars with forex trading, this will help me survive with my accommodations and I also charity sometimes, but I do not have job for now, I recently graduated and looking for admission in foreign universities.
I am not going to invest my real money for now. I have decided to go with a Funded account where I only paid $65 and I get a margin of $300 of loss daily, the total loss is $600 I can lose.
Plus, I have to make $480 in the first phase and $300 in the second phase. To play safe and learn, I am going to use only 0.02 and 0.03 lot sizes only to survive with this account at least for 3 to 4 months.
I think this is a best way to learn without loosing money. And, if somehow I complete phases, I will get 85% of profit share from the funded account. So, this is the most suitable thing for me to survive in this market.
Secret to the Price Action is Liquidity.
  • #775,163
  • Sep 16, 2023 12:25am Sep 16, 2023 12:25am
Quoting iusman23
{quote} I am sincerely agreeing with you on this. But, I always wanted to do something where I put my extra time and get a little amount of money. I used to be a photographer and got an Instagram page. Later, I found out it was just an extra cost but not paying me off. I got only fame. It's been a year since I was off my hobby and not posting on my page anymore. Finally, a friend of mine developed my interest in Forex Trading. I found out that this is quite fun and pays off. I do not want to earn a lot. All I am aiming for is, that in future, I...
i totally understand buddy. When i first started trading, i was a student who recently graduated high school. That was 5 years ago. Time flies.

Be careful with the prop firms, maybe you heard it but a very popular prop firm (mff) is closed due to fraud. We can never know which ones are honest and which ones are frauds. Therefore i wouldn't recommend investing too much money on them. 65 bucks is fine though, it is obviously better than putting 65 bucks in your own account. Trading with big capital, small lot sizes will be less stressful. It will also be able to tolerate losses. So i think you are on the right path with risk management. My words are for the people who are thinking of investing hundreds, even thousands on prop firms.

Wishing you all the best
You have to have an IQ higher than 90 to interact with this user.
  • #775,164
  • Sep 16, 2023 2:05am Sep 16, 2023 2:05am
Quoting prop.kid
{quote} I still believe Wavegarrick is a Demo Trader!
Hey Prop kid,
You should be a smart kid since you're a prop trader. Yes, no?
Now I want you to think for a few seconds.
I have been doing this since 2006. Now that is a long time. Yes, no? 17 years and some if my math is correct
A little story from the school of hard knocks.
From 2006 to 2011, I was struggling and blowing my account so many times that I was ready to give up. 2012 I started making headway under the guidance of Nanningbob. Around 2015 I started making back my years of losses and getting back to breakeven. Fortunately I was not doing this full time and have a very understanding wife.
Since then I have never looked back.
Do you really think that I will waste 17 years of my life demo trading?
Don't need a TE to prove myself. What you see on posts is where I am at with my trading and I trade many pairs besides GBPUSD.
Hope you get a clearer picture. That's if you're smart enough.
Have a great weekend.
Cheers.
Trade to trade another day
  • #775,165
  • Sep 16, 2023 2:16am Sep 16, 2023 2:16am
Quoting T721
{quote} Hi Ehminiz, just finished session bout 30mins ago -- can do zoom with you over weekend if you have time Just let me know a time that suits you and send me a dm
That’s great.

thanks
#Stay blue. /swinger/scalper/
  • #775,166
  • Sep 16, 2023 2:41am Sep 16, 2023 2:41am
Quoting prop.kid
{quote} I still believe Wavegarrick is a Demo Trader!
You would be right, he was getting bitchslapped on a regular basis here and couldn't justify himself, then he had a brainwave and thought Ill set up my own thread then if anyone asks any difficult questions then I'll ignore them so they can't post ....easier for him and his partner in crime Jaybag to recruit...
  • #775,167
  • Sep 16, 2023 2:44am Sep 16, 2023 2:44am
Another long story to tell.
How to succeed in zero sum game?
  • #775,168
  • Sep 16, 2023 2:49am Sep 16, 2023 2:49am
sitting idle , so checking pa . weekly sr 2420, 2444 and even 2308 low are all weak , better supports may go further down 2170/2115 to 2010 and 1975, 2115 / arounds may best fit . though so far expected a bounce / correction over previous low of 2308!
monthly 2nd candle down and may more down before 3rd if able ranging , so pressure remain strong down !
daily tf posing test 2308 , may escape break first chance having a bounce chance towards
2547 before breaks down and more !
overall , price in strong bearish ! take care
Attached Image(s) (click to enlarge)
Click to Enlarge Name: GBPUSD.iDaily.png Size: 17 KB
Click to Enlarge Name: GBPUSD.iMonthly.png Size: 14 KB
Click to Enlarge Name: GBPUSD.iWeekly.png Size: 16 KB
Not understand?better not follow my analyses!doubt clearer first, risks ++
  • #775,169
  • Sep 16, 2023 2:53am Sep 16, 2023 2:53am
Quoting Fardeen1209
{quote} Hey mate, like scalafx said you need to define what type of trader you are- a scalper, day trader, swing or trend following one. The first important thing you need to bear in mind is NOBODY (like no one) knows where price is heading the next minutes (with certainty), no matter how good or professional they are. Second thing, you are just 3 weeks in trading, you need to understand that trading is not about getting all your trade right. This is madness. A BS sell to you by youtube content creators. Trading is more about risk. More precisely,...
  • #775,170
  • Sep 16, 2023 2:57am Sep 16, 2023 2:57am
Quoting Aussi
{quote} Hi mate what i have wrote about it many times on FF about a few repainting indies like semaphores i have used it on a time frame that it likes most do there home work regarding indies and what time frames they have better win rate the first thing people say its repainting and start crying about it , i use it for quick scalps there is a simple secret with it and i found it , most don't understand the indies they use and most don't even try to work out the settings on them , so rule of thumb is if they work for you use them or move on ,
If you were addressing that reply to me, you got it wrong. The first sentence in my reply was copy-paste from another memeber's post to which I was replying. Note my post did not address semaphores at all. Rather, it was about the "chaotic" (pun intended) nature of the documentation and the problems this imposes on the reader.
To free Gazans of Hamas, use whatever it takes.
  • #775,171
  • Sep 16, 2023 2:59am Sep 16, 2023 2:59am
Quoting Zebi
{quote} there are two types of people on forex factory... the teachers and the braggers im the second type LOL i post my trades and analysis so i can quote myself days later to show how smart i am and pretty much everyone on this thread is the same...you wont get any instruction from this bunch including myself this thread isnt about teaching. youll have to look for those. like scoteyy just said you want to do the opposite of this place...i said that yesterday and a few idiots that had their feelings hurt put me on ignore LOL you...
there are two types of people on forex factory... the teachers and the braggers

3 types: You left out lurkers.
To free Gazans of Hamas, use whatever it takes.
  • #775,172
  • Sep 16, 2023 3:11am Sep 16, 2023 3:11am
Quoting iusman23
Hello mates, I am new to the trading, it's been 3 weeks I am trading with my funded account and cannot make profit. I am so confused with GBP/USD. My personal analysis says it will hit 1.2300 and them might go bullish to 1.2500 or maybe higher. Can someone help me to understand if I am right or wrong and if yes then why? and if no, then why? It will really help me a lot. Also, if there is some expert or an experienced trader who can get in touch with me out of this forum. It would be great to learn from him/her.
Hello!

Why do you think GBP/USD will reach 1.23 before reversing?

Do you see something on the chart that is telling you that or do you just think it will happen?

None of us knows if you are right or wrong. None of us can predict where the price is going, that's why we have the system to do this job for us.

Can you share the chart perhaps, I'd like to see how you're trading? Thanks!

Edit: I didn't even realize how many replies you already got.. so, no need to answer me anything. Good luck!
  • #775,173
  • Sep 16, 2023 3:17am Sep 16, 2023 3:17am
Quoting DrDave
{quote} there are two types of people on forex factory... the teachers and the braggers 3 types: You left out lurkers.
I'm a model trader, I'm not a teacher, and I'm not a braggart, just a simple trader.
Category 4, just a simple trader.
  • #775,174
  • Sep 16, 2023 3:23am Sep 16, 2023 3:23am
H1 Short
H4 Short
D1 Short
W1 Confirmed Short
MN (Below S1 @ 1.24, Going For S2 @ 1.21 - 1.215)

This is the week where GBP/USD should go down to 1.215 or 1.19 after which reversal is highly possible.
  • #775,175
  • Sep 16, 2023 3:26am Sep 16, 2023 3:26am
Quoting iusman23
Hello mates, I am new to the trading, it's been 3 weeks I am trading with my funded account and cannot make profit. I am so confused with GBP/USD. My personal analysis says it will hit 1.2300 and them might go bullish to 1.2500 or maybe higher. Can someone help me to understand if I am right or wrong and if yes then why? and if no, then why? It will really help me a lot. Also, if there is some expert or an experienced trader who can get in touch with me out of this forum. It would be great to learn from him/her.
Attached File(s)
File Type: pdf The Three Skills of Top Trading_ Behavioral Systems Building, Pattern Recognition, and Mental State   6.6 MB | 966 downloads

the best book u can read imho. And believe me i ve read a lot of them
chaos is just unknown order
  • #775,176
  • Sep 16, 2023 3:31am Sep 16, 2023 3:31am
Quoting TheWraith
{quote} Hello! Why do you think GBP/USD will reach 1.23 before reversing? Do you see something on the chart that is telling you that or do you just think it will happen? None of us knows if you are right or wrong. None of us can predict where the price is going, that's why we have the system to do this job for us. Can you share the chart perhaps, I'd like to see how you're trading? Thanks! Edit: I didn't even realize how many replies you already got.. so, no need to answer me anything. Good luck!
As we all were expecting the price to hit 1.2400 and then reverse. But, it went through the support at 1.2400. It was going up and doing at 1.238 something and then it went to 1.23778 before the market closed. Meanwhile, I took a session from T271 and the previous liquidity shows it might hit 1.23600 and then reverse, but if it went through the support again, it should move to 1.23000 before reversing.

Also, the daily chart shows that the head and shoulder pattern is not equally completed (I know the arms shouldn't have to be completed before reversals).

Here are some following reasons I think it can hit 1.23000 before reversing:
1. It broke support at 1.24000.
2. I saw analyzed the chart and it broke support at 1.23900 too.
3. Now it is at 1.23778.
4. If it won't reverse from here, it will hit 1.23000.
5. News from UK shows that UK is facing inflation and unemployment factors effecting GBP's strength.
6. US Dollar is gaining after every news. But chart still is on a downtrend due to inflation.
7. Check USD/CAD chart, it is moving a bit upwards, it can be a correction too.

This is my personal point of view. I am just 3 week old newbie trader playing with charts and learning things around.
Secret to the Price Action is Liquidity.
  • #775,177
  • Sep 16, 2023 3:41am Sep 16, 2023 3:41am
there is monthly support around 1.23 region
Compulsions can be hard to resist
  • #775,178
  • Sep 16, 2023 4:06am Sep 16, 2023 4:06am
gbp/chf.
the wolf wave D has already started in the north direction.
this visible northward movement can support the expected movement of gbp/usd.
but nothing is certain.
M30-H1.
  • #775,179
  • Sep 16, 2023 4:37am Sep 16, 2023 4:37am
Quoting fontu
sitting idle , so checking pa . weekly sr 2420, 2444 and even 2308 low are all weak , better supports may go further down 2170/2115 to 2010 and 1975, 2115 / arounds may best fit . though so far expected a bounce / correction over previous low of 2308! monthly 2nd candle down and may more down before 3rd if able ranging , so pressure remain strong down ! daily tf posing test 2308 , may escape break first chance having a bounce chance towards 2547 before breaks down and more ! overall , price in strong bearish ! take care {image} {image} {image}
Yay!!! Finally, someone came up with the same analysis as I do. I posted a reply about why I think the price is going down to 1.23000. Here I see another analysis in your post. Can you explain a little why do you think price will break down from 1.2300?
Secret to the Price Action is Liquidity.
  • #775,180
  • Sep 16, 2023 4:44am Sep 16, 2023 4:44am
Quoting TheWraith
H1 Short H4 Short D1 Short W1 Confirmed Short MN (Below S1 @ 1.24, Going For S2 @ 1.21 - 1.215) This is the week where GBP/USD should go down to 1.215 or 1.19 after which reversal is highly possible.

Not so fast man . Interest rates will remain the same in US. Therefore the speed will not be too fast.
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