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Cable Update (GBPUSD)

  • #799,481
  • Dec 28, 2023 12:39am Dec 28, 2023 12:39am
Quoting trumps
{quote} well if you think “most” means “everyone”, we have a significant stumbling block of understanding right there .
Well yes most is closer to everyone that trades GU, not just 83 wouldn't you say...
  • #799,482
  • Dec 28, 2023 12:40am Dec 28, 2023 12:40am
Quoting Yngwie
{quote} 2830 is good resistance for seller now. 2780 is a good support. i hope bear can bulldoze it
hard to break 2798 middle bands H1...thats why im quit

Quoting voeltoez
{quote} hard to break 2798 middle bands H1...thats why im quit
but if break 2770 for sure lower bands
  • #799,483
  • Dec 28, 2023 12:46am Dec 28, 2023 12:46am
RSI on hourly says this should go lower before any move back up to the highs of the day.....could be wrong
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Don't Leave Money on the Table
  • #799,484
  • Dec 28, 2023 12:46am Dec 28, 2023 12:46am
Quoting Waveskierrob
{quote} Well yes most is closer to everyone that trades GU, not just 83 wouldn't you say...
I’ve adjusted my post to avoid further conversation.
Compulsions can be hard to resist
  • #799,485
  • Dec 28, 2023 12:47am Dec 28, 2023 12:47am
Quoting HaLBot
{quote} Yes I see where your coming from but you will have to accept you cannot achieve 3% a day due to what I said in a post above yours. Your percentages will drop as account grows which isn't a bad thing. Then you'll crash and burn and blow a percentage of your account and all that business of percentages goes out the window as you forget about it due to the punch in the face you just received lol. Mike Tyson "Everyone has a plan until they're punched in the face" But overtime you'll develop the skill set required for this as we all have to do...
That's true. It's also not my money while it's in my brokerage account. The brokers needs to have enough money to pay. Even when you withdraw and the money goes into your bank account, it's still not your money. Any money sat there is legally the banks, you are just an unsecured creditor. If you can't hold it, it's not yours which is why I'm a fan of physical gold.

I remember listening to a podcast and he was talking about the EUR/CHF floor removal. Even if you had managed to catch that whole massive drop, you wouldn’t have seen a penny of it because it happened so fast and was so big that your broker would probably have gone bankrupt due to all the buy positions their other clients had. Was very interesting but totally off topic.
  • #799,486
  • Dec 28, 2023 12:49am Dec 28, 2023 12:49am
notice this massive accumulation of sellers volume right before 8.30am on a resistance level. Right after a false BOS on m1 (liquidity area) to fool anyone who wants to trade buys with the trend. This is exactly where all the sellers that cause that big move loaded up. exactly what you want to see when in position.
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  • #799,487
  • Dec 28, 2023 12:50am Dec 28, 2023 12:50am
Quoting _BBKing_
{quote} ok what you explain is mathematically correct. I can’t deny it. but you are not taking in account the risk x trade. 1lot on a 5k is approx 5% risk x trade. (Depends on the sl) the same has to apply to the real 400$ account. anyway if you believe this is going to work for you, or someone has same or similar idea, it’s ok. maybe I will try it also. Who knows… I just wanted to point it out that the rist to reward is something very important in trading. It comes out when you lose 1 or 2 trades. when calculating stuff, we don’t care much about...
This is not correct:
but you are not taking in account the risk x trade. 1lot on a 5k is approx 5% risk x trade. (Depends on the sl) the same has to apply to the real 400$ account
-> I do take into account the same risk every time.

The real account where is that 400$ fee is copying the 5k account on a 1:1 r:r, meaning that 1 lot on 5k account -> 0.07on the 400$ account.
But, when the 5k account reached 6k -> 400 acc reached 480 -> I will start over with a new 5k demo account (I will not continue with the 6k one, ... or I reset the 6k demo balance to 5k) AND the fee account that is now 480 will copy the 5k account. Now, 1 lot on 5k account -> 1:1 r:r will open 0.08 or 0.09 lot on the 470 account ...
Demo account reach again 6k -> reset-> loop -> 13 times -> demo account(s) made 13k profit -> the real where fee started is now at ... 4k+ (Flip 400$ fee -> 13 times -> with 20% increase -> 4279$)

They are skipping this part of reaching the funded level. Is like you pay 400$ and you are directly funded. No, you have to make that 13% before being funded. And that fee is on the company side doing whatever they like to do with it. So, they can use it to on your process to get funded -> if you reached -> they have already the daily allowance, even more, that it will be given to you on a daily basis ... and they will continue to exponentially increase that start-up fee where you are jailed into a daily allowance.

Perfect employee!
  • #799,488
  • Dec 28, 2023 12:50am Dec 28, 2023 12:50am
Quoting trumps
{quote} I’ve adjusted my post to avoid further conversation.
See that's better , I can understand where you're coming from now, well done...
  • #799,489
  • Dec 28, 2023 12:52am Dec 28, 2023 12:52am
Quoting footprint
notice this massive accumulation of sellers volume right before 8.30am on a resistance level. Right after a false BOS on m1 (liquidity area) to fool anyone who wants to trade buys with the trend. This is exactly where all the sellers that cause that big move loaded up. exactly what you want to see when in position. {image}
Buyers can also download in the same way....
Desire is a set of possibilities And reluctance - a lot of reasons ....
  • #799,490
  • Dec 28, 2023 12:55am Dec 28, 2023 12:55am
Testing the water...
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  • #799,491
  • Dec 28, 2023 12:55am Dec 28, 2023 12:55am
Quoting lipopos
{quote} Buyers can also download in the same way....
yes. if they want to buy at the likely high of the week. would not recommend that.
  • #799,492
  • Dec 28, 2023 12:59am Dec 28, 2023 12:59am
Quoting navk
{quote} Best wishes are there for everyone. But.... I have been in this industry for more than 10 yrs. I still do not know how to make 29k with 400 dollar real money account. If there is anything, pl write clearly so that everyone can understand. If what you say is possible, i will throw away every funded frim and open new account with fx broker with 400 $ And if you do not reply in a clear understandable math ( in three lines ), I will presume ..and leave it at that.
Please read again from where it started
https://www.forexfactory.com/thread/...8#post14701328 and https://www.forexfactory.com/thread/...3#post14701463 and a few that follow and this last one https://www.forexfactory.com/thread/...0#post14701980
There is math and the approach to follow.
If still not enough, we will leave it for the moment as I see that this process can't be followed in mind. Once will start, there will be some real case examples that maybe will make things clear.
  • #799,493
  • Dec 28, 2023 1:09am Dec 28, 2023 1:09am
Quoting MrFanciful
{quote} That's true. It's also not my money while it's in my brokerage account. The brokers needs to have enough money to pay. Even when you withdraw and the money goes into your bank account, it's still not your money. Any money sat there is legally the banks, you are just an unsecured creditor. If you can't hold it, it's not yours which is why I'm a fan of physical gold. I remember listening to a podcast and he was talking about the EUR/CHF floor removal. Even if you had managed to catch that whole massive drop, you wouldn’t have seen a penny...
Yes you must protect your positions at all times against any eventuality no matter how benign it's behaving, in a second some news you have no knowledge of could go against your position(s) by a hundred pips or more and destroy the account
Don't Leave Money on the Table
  • #799,494
  • Dec 28, 2023 1:17am Dec 28, 2023 1:17am
If the H1 candle closes below the red zone we’ll go short. But bear in mind the first Sellside liquidity level that needs to be taken out is 1.27887. Is pretty close to the entry but guess what the next Sellside is far way. That’s the catch
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  • #799,495
  • Dec 28, 2023 1:24am Dec 28, 2023 1:24am
Quoting BigNumbers
If the H1 candle closes below the red zone we’ll go short. But bear in mind the first Sellside liquidity level that needs to be taken out is 1.27887. Is pretty close to the entry but guess what the next Sellside is far way. That’s the catch {image}
think it will be a straightforward sell day. expecting ADR to hit for the bears by NY session
with that said i just closed 80% of my position from 1.2815 area.
  • #799,496
  • Dec 28, 2023 1:25am Dec 28, 2023 1:25am
there’s a good bounce zone for buys around 2725-2750 area
Compulsions can be hard to resist
  • #799,497
  • Dec 28, 2023 1:29am Dec 28, 2023 1:29am
Quoting Vincent1
{image} Nice area to sell, tiny stop loss We had a possible false breakout (maybe) Let's see what happens
Stopped out on that one
In again now, and price action looks better
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  • #799,498
  • Dec 28, 2023 1:35am Dec 28, 2023 1:35am
Don't see much downside on GU as long as EU keeps getting bought. Even if Euro/Gbp is bought if EU keeps going higher eventually GU will slingshot back up. This is usually the case but as always could be wrong
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Don't Leave Money on the Table
  • #799,499
  • Dec 28, 2023 1:42am Dec 28, 2023 1:42am
Quoting aa4fx
I knew I shouldn't look on the chart because I would start to see weird ideas. Now, that I did it, I bought 2644 and I am still wondering what would be the excuse to go to 2870 / 3022, especially now after all this going short views. Of course, weird ideas don't come alone, like: why would it go next to 2600? I hope not, as I am buying more as I type ... I think I am storing it out into this ideas: - if no less than 2644 (-10?) - then next 2870 (and then maybe 3022 ...) - if no less than 2600 (-10) - then back to 2700 and then further down ... abc,...
Quite lazy I would say ... not even to that 2870, not to mention 3022 or 3150 from where, at this moment, I am super keen to sell it next week!
  • #799,500
  • Dec 28, 2023 1:44am Dec 28, 2023 1:44am
If this present H1 candle close bullish I’ll go long.
we still have buyside liquidity sitting up as indicated with the red line
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