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Cable Update (GBPUSD)

  • #796,961
  • Dec 14, 2023 1:49am Dec 14, 2023 1:49am
Long 2614 tp 2670 sl 2600
  • #796,962
  • Dec 14, 2023 1:52am Dec 14, 2023 1:52am
Don't forget, this is still bullish
Long for 20 pips
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yes yes yes
  • #796,963
  • Dec 14, 2023 1:53am Dec 14, 2023 1:53am
Quoting Moty
{quote} It's a new day with new deposit but a new strategy No no , i know what you think Not new indicators , new money management rules I don't aims to get to 1000 or 2000 $ in my equity Every time i get to 100 $ profit over the amount i need for it to trade , i will withdraw them If i want to see the number 2000 $ i will look for it in the trade history under the last withdraws When it is on my equity, it's considered like doomed 50 $ booked {image} {image}

mate I feel for you , been there at times like that. Usually it’s when I’m busy or I get distracted doing something for 5 minutes for the girlfriend and it all changes usually just before bank profit!!. yesterday before pmi I got stopped out before a rush up and it’s always the way slightly wider stop loss and I would hold made good profit instead of a small loss., if i held into FOMC I would have made so much but it can go either way.

Stick with what works for you, obey your own rules around when and when not to trade like during news , avoid risk, we all want to be in for big moves but maybe open a sub account to limit the losses during news events if you want to hold.

i like your withdrawal strategy but maybe adjust it so you withdraw profits but leave some in there so you can scale it up. For example. A deposit of 1000, make 10% withdraw 4% and keep 6% ($100, 40, 60)
You then have a 6% buffer to go down to your starting balance so you’re not in the red and stop out or close bad trades before you get back to your balance.
- Then make another 10% or so and do the same so you then have a starting balance of 1100. But keep a 6% buffer always . You can then make slightly bigger trades it depends how much you are happy making in a day .
Trade safe , I’m gonna try and sort those indicators out today!!
  • #796,964
  • Dec 14, 2023 1:54am Dec 14, 2023 1:54am
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GBPUSD short is in profit. However, I also have GJ and GN longs. Not sure whether I should hold on to the short?
Small lot sizes, big wins
  • #796,965
  • Dec 14, 2023 1:56am Dec 14, 2023 1:56am
Quoting voeltoez
Long 2614 tp 2670 sl 2600
add more
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  • #796,966
  • Dec 14, 2023 1:56am Dec 14, 2023 1:56am
Quoting Moty
All the money gone !!! 1700 $ turned into 30 $
i feel deep sorry about you because i also lost a lot of money yesterday .
but this is the inevitable fate of "average trading" strategy, you keep profiting day after day untill you got a big loss.
could you tell me about your experiance with using the stop loss ?
  • #796,967
  • Dec 14, 2023 2:00am Dec 14, 2023 2:00am
Quoting MarcoJnr
{quote} mate I feel for you , been there at times like that. Usually it’s when I’m busy or I get distracted doing something for 5 minutes for the girlfriend and it all changes usually just before bank profit!!. yesterday before pmi I got stopped out before a rush up and it’s always the way slightly wider stop loss and I would hold made good profit instead of a small loss., if i held into FOMC I would have made so much but it can go either way. Stick with what works for you, obey your own rules around when and when not to trade like during news ,...
I doubt he is here for advice Too stubborn
  • #796,968
  • Dec 14, 2023 2:00am Dec 14, 2023 2:00am
Quoting Moty
All the money gone !!! 1700 $ turned into 30 $ Before the fmoc i took short on gold 20$ per point Euro 30$ per pip Gu 50$ per pip during I told to myself how much can it be worse, so gold will spike 20 pts , it's only 400 $ loss but the mf bulls runed more then 50 Eu climbed over 100 pips And gu more then 60 pips I have been in a fcom scenarios, but this is the aggressive one in the last few , and it's always against me, unbelievable
Sorry to hear about this, this has happened to me a lot of times early in my trading career. What worked for me was to have small lot sizes relative to my balance. That allowed me to hold trades until they eventually went into profit.

Also, I started using a hard stop which means the moment my trades go into 20-25% loss, all trades would close no matter what
Small lot sizes, big wins
  • #796,969
  • Dec 14, 2023 2:02am Dec 14, 2023 2:02am
Quoting Whale
1.2617 is my take P for today. monster day will bring it to 1.265, unlikely today because its a sell level
Finally made it.

What next phase? Hard to know.
  • #796,970
  • Dec 14, 2023 2:05am Dec 14, 2023 2:05am
8am scalp in a couple of minutes took longs just before open and closed before a drop
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  • #796,971
  • Dec 14, 2023 2:09am Dec 14, 2023 2:09am
Quoting beejay
From experience what is best??.. Trade a single pattern across multiple pairs or multiple pattern on a single pair. Every pattern has almost equal winning rate.
For me one of the things that has help me to be consistent is that i trade only one pair, one pattern thereby making my risk consistent enough for me.
i trade one pair, when my trading system gives me money am there to pick and when is in it's losing cycle am also there to pick and because of sticking to
one thing and one pair i can tell when losing streak or wining is around the corner.

I can tell up to a positive % what the two of them will do next month according to what have seen them do this month.
I learnt the hard way that not sticking to a single pair and pattern makes indecisive and confuse thereby leading to a bad result.
I need all amount of MENTAL CLARITY to make this work
THE TRUTH IS SIMPLE,ACCEPTING THE SIMPLICITY OF THE TRUTH IS WHAT IS HARD
  • #796,972
  • Dec 14, 2023 2:22am Dec 14, 2023 2:22am
so below 2561 may to bounce try last times !
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Not understand?better not follow my analyses!doubt clearer first, risks ++
  • #796,973
  • Dec 14, 2023 2:23am Dec 14, 2023 2:23am
holding fingers crossed for 2590 BE then wait for set up buy later
average dude treading water
  • #796,974
  • Dec 14, 2023 2:24am Dec 14, 2023 2:24am
GU H1
if we stay above the blue line, we can still rise to the brown line
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Trendlines H1,H4, SMC
  • #796,975
  • Dec 14, 2023 2:33am Dec 14, 2023 2:33am
Quoting Moty
Don't forget, this is still bullish Long for 20 pips {image}

Surgeons don’t change how they do surgery


Create a plan and follow it for 3 months check your result
MY OPINION NOT FINANCIAL ADVISE
  • #796,976
  • Dec 14, 2023 2:35am Dec 14, 2023 2:35am
closed long..now short
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  • #796,977
  • Dec 14, 2023 2:55am Dec 14, 2023 2:55am
Quoting voeltoez
closed long..now short {image}
sold 2640 tp 2590 no sl
  • #796,978
  • Dec 14, 2023 2:58am Dec 14, 2023 2:58am
Quoting voeltoez
{quote} sold 2640 tp 2590 no sl
Im holding GU and Gold shorts for today
People don't plan to lose. They lose because they don't plan.
  • #796,979
  • Dec 14, 2023 3:13am Dec 14, 2023 3:13am
Quoting muv
{quote} i feel deep sorry about you because i also lost a lot of money yesterday . but this is the inevitable fate of "average trading" strategy, you keep profiting day after day untill you got a big loss. could you tell me about your experiance with using the stop loss ?
I know its psycholog mainly, but it seems that every time i put a stop loss , it stopped me
But it's not , here a fresh example, i put sl in a good distance, below 50% retracement and it came back up before it hit it , and if it hit the sl , it means that maybe i wrong, and it is good not stay in a wrong trade, like yesterday
I need to stop thinking like that
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yes yes yes
  • #796,980
  • Dec 14, 2023 3:14am Dec 14, 2023 3:14am
Quoting voeltoez
{quote} sold 2640 tp 2590 no sl
Good luck to you
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