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Cable Update (GBPUSD)

  • #793,361
  • Nov 28, 2023 9:57am Nov 28, 2023 9:57am
Quoting JourneyLife
{quote} Because grid trading is a losing strategy. In three days, James Cordie lost 150 million of investors money (all the money) because he had no stop loss, but kept shorting oil. Then, oil did something more than what the anyone imagined: It kept going up! He got out and doubled down, thinking he would trade a pullback. He was wiped out completely and still owed money to the broker.
greed kill James Cordie read what the poster write once again, using 10,000 stop lose, even if you use 1000 stop lose no way you will get stop out in the market without getting profits.
  • #793,362
  • Nov 28, 2023 10:02am Nov 28, 2023 10:02am
Quoting Whale
The mf eat my money like pacman
Interesting description.
This is one investment in a bucket of thousands!
  • #793,363
  • Nov 28, 2023 10:03am Nov 28, 2023 10:03am
Quoting OperaniyiFx
{quote} greed kill James Cordie read what the poster write once again, using 10,000 stop lose, even if you use 1000 stop lose no way you will get stop out in the market without getting profits.
Not if you trade USD/HKD or other forex markets that do not trend. However, pull up a weekly chart of CHF/JPY. You will be stopped out.
This is one investment in a bucket of thousands!
  • #793,364
  • Nov 28, 2023 10:06am Nov 28, 2023 10:06am
Quoting Whale
The mf eat my money like pacman
busted..
  • #793,365
  • Nov 28, 2023 10:07am Nov 28, 2023 10:07am
Quoting JourneyLife
{quote} Not if you trade USD/HKD or other forex markets that do not trend. However, pull up a weekly chart of CHF/JPY. You will be stopped out.
he said GBPUSD.
  • #793,366
  • Nov 28, 2023 10:12am Nov 28, 2023 10:12am
Cable going to try and tackle 1.27 at some point
  • #793,367
  • Nov 28, 2023 10:14am Nov 28, 2023 10:14am
Time to reevaluate….. 125 not happening this week. Unless if there is any important US data that could help kick the can down the road. Not too likely though
Insane in the Brain..
  • #793,368
  • Nov 28, 2023 10:17am Nov 28, 2023 10:17am
Quoting OperaniyiFx
{quote} he said GBPUSD.
Yes it's achievable on GBPUSD ... From year 2014 July to September 2022, GU fell from 1.7194 to 1.0352 (whooping 6842 pips crash)

And after every major fall, the rise has been limited to 1.52, 1.45 and 1.42.

In summary, GBPUSD drops more than it rises since year 2007.

4000 pips stop loss will always make you a winner trading GBPUSD over 10 years timeframe...

You can survive GBPUSD short all through the year with 2500 pips stop loss provided you don't sell at a critical low like 1.03 and 1.14.

I hope this breaks it down to an extent.
Data + Stat + Risk/Emotions Management
  • #793,369
  • Nov 28, 2023 10:22am Nov 28, 2023 10:22am
Why is the USD so weak this period ?
  • #793,370
  • Nov 28, 2023 10:22am Nov 28, 2023 10:22am
im still short GU from average 2622

and gold from 2005...this one is starting to sting LOL

the room got the better of me so far but ill hold on
short trump and go long the deepstate
  • #793,371
  • Nov 28, 2023 10:23am Nov 28, 2023 10:23am
Can the GU possibly test 1.26 this week?
  • #793,372
  • Nov 28, 2023 10:24am Nov 28, 2023 10:24am
Quoting cablekingdom
{quote} Closed--- + 70 pips @1.2692 In short now @1.2690
Where are you likely to TP?
  • #793,373
  • Nov 28, 2023 10:25am Nov 28, 2023 10:25am
Bb 20,0.382
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot_2023-11-28-18-24-42-894_net.metaquotes.metatrader4-edit.jpg Size: 708 KB
yes yes yes
  • #793,374
  • Nov 28, 2023 10:26am Nov 28, 2023 10:26am
Quoting Jackoboms
Why is the USD so weak this period ?
think it’s do with QT (quantitive tightening )
Insane in the Brain..
  • #793,375
  • Nov 28, 2023 10:28am Nov 28, 2023 10:28am
Quoting OperaniyiFx
{quote} he said GBPUSD.
Here is a chart of GBPUSD in the 1980s. It went down over 10,000 pips. Straight down. IF you kept buying it, then you would lose.
Attached Image (click to enlarge)
Click to Enlarge Name: screenshot.png Size: 34 KB
This is one investment in a bucket of thousands!
  • #793,376
  • Nov 28, 2023 10:28am Nov 28, 2023 10:28am
Quoting Zebi
im still short GU from average 2622 and gold from 2005...this one is starting to sting LOL the room got the better of me so far but ill hold on
So obviously you are still expecting the US$ to bounce from 102.7 ish.
  • #793,377
  • Nov 28, 2023 10:28am Nov 28, 2023 10:28am
Quoting Jackoboms
{quote} Where are you likely to TP?
I trade using only 30 min frame...my tp is 1.2643...1st support on 30 m
  • #793,378
  • Nov 28, 2023 10:30am Nov 28, 2023 10:30am
Quoting BeeTogether
{quote} think it’s do with QT (quantitive tightening )
Exactly! Why should money managers hold dollars is rates are going to go down?

If one reads this article, one would find out some names of funds offloading the USD; big funds.
Here is the article: Investors dump dollar in bet that US rates have peaked (ft.com)
This is one investment in a bucket of thousands!
  • #793,379
  • Nov 28, 2023 10:32am Nov 28, 2023 10:32am
Quoting Robinhood1
Gold to reach 23xx
Bitcoin next. Coming soon
POSTMASTER
  • #793,380
  • Nov 28, 2023 10:33am Nov 28, 2023 10:33am
Quoting BeeTogether
{quote} think it’s do with QT (quantitive tightening )

Doesn't quantitative tightening reduce the money supply? That should increase the value of the US$ not decrease it.
To drive price down they have to issue treasury notes from the Fed for example, possibly to purchase other currency. In line with what Powel said he wanted to do. The yield from their last auction was down. This is possible.
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