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Cable Update (GBPUSD)

  • #785,361
  • Oct 23, 2023 10:33pm Oct 23, 2023 10:33pm
Quoting hadi.ch
{quote}hi pat do you know any books on money management technics ?like hedging or averaging?
Try my thread I have some useful tools on there that may help you and others have posted some cool stuff also...
  • #785,362
  • Oct 23, 2023 10:36pm Oct 23, 2023 10:36pm
Quoting hadi.ch
{quote}hi. no i meant i asked him he didn't have it.sorry
Any and every trade you take work out your risk on it first. So if your total risk per trade is 1% then you have 100 trades b4 you blow account but if that trade moves in your direction you need to press it every time.... Hope that makes sense
  • #785,363
  • Oct 23, 2023 10:43pm Oct 23, 2023 10:43pm
Quoting T721
{quote} Hi pal, i dont have anything on money management. Its the most basic component of trading and one of the first things to learn so i never kept any books or PDFs. For me it was more a common sense approach..... ie, how much do i want to lose on this trade and what % of my equity is that ---- then if im happy i get in the trade and if i lose i was willing to lose x amount or x % anyway beside he is good looking handsome man. YOU BEEN SMOKING AGAIN ...
I appreciate your response.
I agree with your assessment of money management (MM) in trading.

With experience, traders can develop the skills necessary to uphold MM as an integral component of their trading plan.
Waveskie is a prime example of a trader who has mastered MM.
His handling of drawdowns are a testament to his sound risk management practices.


P/S
YOU BEEN SMOKING AGAIN
Dayyum.......... Do I smell that bad ?.
I'm trying to get some help from friends from UK to locate this place.
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I come from the future.
Karen X Mas Bonus 2025 All Time Profit: $15,104
  • #785,364
  • Oct 23, 2023 10:44pm Oct 23, 2023 10:44pm
Loadsa Red News today folks. Kicking off in 16mins.. Take care out there
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  • #785,365
  • Oct 23, 2023 10:46pm Oct 23, 2023 10:46pm
Quoting hadi.ch
{quote}hi. no i meant i asked him he didn't have it.sorry
Thanks Mate, thought he gave you some.
Easier to risk 1% /trade or better 0.5% per trade and For A+ setup 1% to 2%.
More time in the market, does not mean you trade better!
  • #785,366
  • Oct 23, 2023 10:47pm Oct 23, 2023 10:47pm
Quoting Waveskierrob
{quote} Try my thread I have some useful tools on there that may help you and others have posted some cool stuff also...
i will certainly do that,. and also i like cool stuff too
  • #785,367
  • Oct 23, 2023 10:48pm Oct 23, 2023 10:48pm
I think we'll pop up on Claimant Count at 7am and make the high of the week today sometime after London open. When I find a safe sell entry i'll enter short to 1.2070 with the aim of hitting it this week

We may turn around 1.23, or around 1.2350 above the h4 swinghigh, will wait for LTF to trend down and get in on pullback into imbalance
  • #785,368
  • Oct 23, 2023 10:48pm Oct 23, 2023 10:48pm
Quoting hadi.ch
{quote} i will certainly do that,. and also i like cool stuff too
  • #785,369
  • Oct 23, 2023 10:49pm Oct 23, 2023 10:49pm
Quoting T721
{quote} Any and every trade you take work out your risk on it first. So if your total risk per trade is 1% then you have 100 trades b4 you blow account but if that trade moves in your direction you need to press it every time.... Hope that makes sense
thanks pal i should work on it a bit more.
  • #785,370
  • Oct 23, 2023 10:51pm Oct 23, 2023 10:51pm
EUR/GBP SWING SHORT IDEA ... i like this trade, i am already in from last night and looking for 120pips +
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  • #785,371
  • Oct 23, 2023 10:53pm Oct 23, 2023 10:53pm
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Morning all, hopefully i can cotribute....
my targets and obstacles at the same time on the ay up and down i guess....
keep green
  • #785,372
  • Oct 23, 2023 10:54pm Oct 23, 2023 10:54pm
Quoting Waveskierrob
{quote} I do trade stocks and have traded crypto, you hit the nail on the head it's not the instrument traders use it's the traders that determine what profit they make, I've made 100% profit in a month then blown the account in the next month, my style gets me to 5% to 20% year after year, "steady drip fill the pot" with very little risk to my capitol, are you sure that there are traders that make +10,000% a month if so what are their names and let's see their accounts or even better live trades, if you can't then how do you know, not trying to...
There was this guy in here on FF last year who made 10,000% in a single month on a live trade explorer account. I don't recall his name. He was here for just one month. He had to leave because of the pressure of people responding to his trades and trying to follow him, and it would disorient his focus from the trading action. He was an experienced trader with about 10 years / 10,000 hours of screen time. During that 10,000% month he slept very little, trying to catch all the big rallies and dumps. It was a volatile month, around October and November, 2022, and he was going for the 10,000% goal and actually achieved it early, a few days before the month was over. He stopped right there and did not trade the remainder of the month. He would only go for 1:10 RRR (10 SL / 100 TP) with max leverage. And he was very accurate with his calls. Right now, you can see the top trader on FF for October, 2023 at over +1,240% ROI. I only have 4 years in, so I have maybe 4,000 hours screen time? Maybe not quite that much. I didn't trade full time. My trading has been inconsistent. You could call me an emotional trader. I'm just hoping that my continuous experience will ultimately give me better mental clarity and help me be more consistently profitable.
You cannot fail if you never give up.
  • #785,373
  • Oct 23, 2023 11:00pm Oct 23, 2023 11:00pm
Quoting 7154Superman
{quote} There was this guy in here on FF last year who made 10,000% in a single month on a live trade explorer account. I don't recall his name. He was here for just one month. He had to leave because of the pressure of people responding to his trades and trying to follow him, and it would disorient his focus from the trading action. He was an experienced trader with about 10 years / 10,000 hours of screen time. During that 10,000% month he slept very little, trying to catch all the big rallies and dumps. It was a volatile month, around October...
where can you see this?
on FF i mean.
Thank you
  • #785,374
  • Oct 23, 2023 11:04pm Oct 23, 2023 11:04pm
Quoting stormtrader
{quote} where can you see this? on FF i mean. Thank you
found it thank you
  • #785,375
  • Oct 23, 2023 11:06pm Oct 23, 2023 11:06pm
Grabbed this from another site.
Employment change is interesting! Paints a much different picture from the claimant count change.
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  • #785,376
  • Oct 23, 2023 11:06pm Oct 23, 2023 11:06pm
Quoting stormtrader
{quote} where can you see this? on FF i mean. Thank you
Top left menu list - Trades - scroll down - October Leaderboards / Live Accounts
You cannot fail if you never give up.
  • #785,377
  • Oct 23, 2023 11:13pm Oct 23, 2023 11:13pm
Quoting 7154Superman
{quote} Top left menu list - Trades - scroll down - October Leaderboards / Live Accounts

Interresting numbers but then again yearly and all times point to gambling...not sustainable...maybe i m wrong but my 2 cents
  • #785,378
  • Oct 23, 2023 11:15pm Oct 23, 2023 11:15pm
Stopped out -12p.

on the fence before a bigger short
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  • #785,379
  • Oct 23, 2023 11:16pm Oct 23, 2023 11:16pm
Quoting 7154Superman
{quote} There was this guy in here on FF last year who made 10,000% in a single month on a live trade explorer account.
30,000% in 21 days.
Everyone can see the chart, but only a few can actually read it.
  • #785,380
  • Oct 23, 2023 11:23pm Oct 23, 2023 11:23pm
Quoting stormtrader
{quote} Interresting numbers but then again yearly and all times point to gambling...not sustainable...maybe i m wrong but my 2 cents
It's not gambling once you gain a predictive advantage from your years of experience, and are disciplined enough to cut your losses early when price action is going against your trade. Once your trading style is fine tuned, you can go in with max leverage like 50:1 or higher, and win big all the time. If you catch 100 pips runs all the time, by the end of the month, you'll just laugh at those who claim you're just gambling. Starting with $1,000, and ending with $10,000+, how is that gambling?
Gambling is letting your trade drawdown without a stoploss, and keep adding more and more positions to "average down" or partially closing your max leverage trade to cover margin call until the price goes your way. Usually, after a continuous run of 200-300 pips drawdown, your account is blown.
Proper money management is using stop losses effectively to protect your assets.
You cannot fail if you never give up.
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