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Cable Update (GBPUSD)

  • #799,861
  • Dec 30, 2023 7:40am Dec 30, 2023 7:40am
Quoting tiborf71
{quote} you are on the right track.

Being on the right 1 out of 2 gives enough results, I will try it and should wait for profit taking at least at 1:2 ratio. Will see it next week
  • #799,862
  • Dec 30, 2023 7:49am Dec 30, 2023 7:49am
Is that last candle an inside candle?=no, and it matters.
Even the quarterly isn't an inside candle. Think about how dumb it is to use the candle body when assessing the pattern.
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On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #799,863
  • Dec 30, 2023 7:51am Dec 30, 2023 7:51am
Quoting Eren10
{quote} Being on the right 1 out of 2 gives enough results, I will try it and should wait for profit taking at least at 1:2 ratio. Will see it next week
I only start trades with a good R:R ratio and always use SL.
there is only this one way, there is no other.
H1.
  • #799,864
  • Dec 30, 2023 8:08am Dec 30, 2023 8:08am
Quoting tiborf71
{quote} I only start trades with a good R:R ratio and always use SL. there is only this one way, there is no other. H1.
"there is only this one way, there is no other" ...interesting do you have any proof of this, I think a lot on here will be very interested...,many thanks in advance...
  • #799,865
  • Dec 30, 2023 8:09am Dec 30, 2023 8:09am
Just need someone to help me program the trading robot with the right instructions.
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  • #799,866
  • Dec 30, 2023 8:12am Dec 30, 2023 8:12am
Quoting Waveskierrob
{quote} "there is only this one way, there is no other" ...interesting do you have any proof of this, I think a lot on here will be very interested...,many thanks in advance...
I'm just sorry you haven't figured this out yet.
you probably don't even know what this means in trading.
I'm sorry.
  • #799,867
  • Dec 30, 2023 8:26am Dec 30, 2023 8:26am
Quoting tiborf71
{quote} Well, that doesn't happen with H1, assuming our strategy isn't the same. but what you say can be good, in a high time frame. I only trade H1.
I meant, if you want to have confirmation over a quarterly level probably a daily setup is best way. Maybe even a 4h.
the same is possible to see market behaviour on 5m chart, when approaching a good 1h level.

There is also a correlation table between timeframes.

if you only trade the h1, then it’s ok. I also use it a lot.
just to enter the trade I check what’s on m5.
90% of traders use TA, indicators and prediction
  • #799,868
  • Dec 30, 2023 8:33am Dec 30, 2023 8:33am
Quoting _BBKing_
{quote} I meant, if you want to have confirmation over a quarterly level probably a daily setup is best way. Maybe even a 4h. the same is possible to see market behaviour on 5m chart, when approaching a good 1h level. There is also a correlation table between timeframes. if you only trade the h1, then it’s ok. I also use it a lot. just to enter the trade I check what’s on m5.
my trade is H1 AND DOESN'T REQUIRE A SMALLER TIME FRAME VIEW. Rather, JUST BIGGER.
but surely your strategy works well, I hope.
  • #799,869
  • Dec 30, 2023 8:35am Dec 30, 2023 8:35am
Quoting tiborf71
{quote} Hello. I see that you are thinking about trading with delta, I would like to share my experience in this regard if you allow me. Well, it is not the holy grail, there are problems with it, the biggest one is that your entry point is only relative in the best case. and you can only hope that DD does not destroy your account. of course you can use some kind of protection, but it is not worth much in the long run. as I said before, the entry point decides everything, if you enter at the wrong time..... so there are plenty of problems with this...
Thank you Tiborf .
A few traders are trading this successfully, I will stick to my simple and random trading style, but prior would like to analyse delta, heatmaps and other tools available on CEM.
I am rubbish with indicators and will not use automations. I mostly trade on the go.
I would like to read the order blocks data, but I can not find a away to add the footprints to my charts. I don't think my broker's offer this, but hav eto check my Pro charts to see how to add the tools. I will do some more research.
Have you looked into #makingmoves threads? Those are very informative, thanks to Ricks postings which directed me to them.

Also check Umar's Utube videos, he is very good in explaining how to read it
Inserted Video


For DD yes, most have this prob, but learn by taking as many challenges possible and you will learn how to restrict yourself to lose big but increase the equity.

I am now doing side trials with Alpha Capital, FXify, FTMO, so many other platforms and brokers you can sign with and improve your trading.for the best results.

All the best to you, Thanks
  • #799,870
  • Dec 30, 2023 8:40am Dec 30, 2023 8:40am
Quoting Jolita
{quote} Thank you Tiborf . A few traders are trading this successfully, I will stick to my simple and random trading style, but prior would like to analyse delta, heatmaps and other tools available on CEM. I am rubbish with indicators and will not use automations. I mostly trade on the go. I would like to read the order blocks data, but I can not find a away to add the footprints to my charts. I don't think my broker's offer this, but hav eto check my Pro charts to see how to add the tools. I will do some more research. Have you looked into #makingmoves...
good luck.
  • #799,871
  • Dec 30, 2023 8:44am Dec 30, 2023 8:44am
Quoting tiborf71
{quote} my trade is H1 AND DOESN'T REQUIRE A SMALLER TIME FRAME VIEW. Rather, JUST BIGGER. but surely your strategy works well, I hope.
yes , I like to execute trades according to m5
even m1.

but I decide my levels in higher tfs, and mostly screen the h1.
90% of traders use TA, indicators and prediction
  • #799,872
  • Dec 30, 2023 8:47am Dec 30, 2023 8:47am
Quoting _BBKing_
{quote} yes , I like to execute trades according to m5 even m1. but I decide my levels in higher tfs, and mostly screen the h1.
I understand, if your strategy requires this, it's logical.
  • #799,873
  • Dec 30, 2023 9:48am Dec 30, 2023 9:48am
Quoting tiborf71
{quote} I'm just sorry you haven't figured this out yet. you probably don't even know what this means in trading. I'm sorry.
No need to be sorry and no I haven't figured it out yet hence why I'm asking you the question, can you elaborate some more or is that it, thanks for your reply...
  • #799,874
  • Dec 30, 2023 9:59am Dec 30, 2023 9:59am
Quoting Waveskierrob
{quote} No need to be sorry and no I haven't figured it out yet hence why I'm asking you the question, can you elaborate some more or is that it, thanks for your reply...
look, if you haven't learned valuable wisdom from today's articles about R:R about how to maintain an account profitably, then yes, that's all.
  • #799,875
  • Dec 30, 2023 10:29am Dec 30, 2023 10:29am
Quoting tiborf71
{quote} look, if you haven't learned valuable wisdom from today's articles about R:R about how to maintain an account profitably, then yes, that's all.
This time I'm sorry, as I am very slow and to pick things up but sure that someone with more intelligence than me has learned some valuable wisdom, however my initial question was "could you prove that your way is the only way" and if you are unable to answer just say and I'll be on my merry way, thanks again...
  • #799,876
  • Dec 30, 2023 10:48am Dec 30, 2023 10:48am
Quoting Waveskierrob
{quote} This time I'm sorry, as I am very slow and to pick things up but sure that someone with more intelligence than me has learned some valuable wisdom, however my initial question was "could you prove that your way is the only way" and if you are unable to answer just say and I'll be on my merry way, thanks again...
man, you are really slow.
here it was not about my way, but about the trading conditions, when they are good and when it is worth trading.
to keep an account profitable.
R:R.
  • #799,877
  • Dec 30, 2023 10:54am Dec 30, 2023 10:54am
Quoting tiborf71
{quote} man, you are really slow. here it was not about my way, but about the trading conditions, when they are good and when it is worth trading. to keep an account profitable. R:R.
yes all ready said that I'm a bit slow thanks for reaffirming that, thanks for your reply will not be bothering you again on this subject...
  • #799,878
  • Dec 30, 2023 11:27am Dec 30, 2023 11:27am
My view about R:R

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The buy in the picture shows 3 possible SL ideas.

1. tight 30 pips
2. medium 70 pips
3. large 130 pips

considering the target in that case would be around the swing high so aprox 100 pips one can decide how to set the stop loss.
1. A tight stop loss because if support is broken better cut the trade immediately R:R 1:3 in the example
2. A medium stop so in case of support broken, one let a bit of space and eventually cut the trade on a re test. R:R 1:1,6
3. A large stop loss in case support broken will not go further more than a lower support and meanwhile one can scalp short or average the entry. R:r 1:1 or less.

the point is:
. how do you manage stress if market proves you wrong?
in this case market was not going much fast but sometimes could be a straight 130pips down in few candles,
. how do you manage stress when you see market going further against you? (Blue circled areas)
. how do you manage being approx 100 pips down before an important news release coming next? Would you cut the trade or hold it in the hope to be in profits?
. What do you do while in drawdown? Still trading other instruments? Would open even 1 short position to be safe in case of further drop?
. What is your leverage? How much will that stop loss hurt your account balance?

answering these questions, hopefully, helps to define own R:R ratio.
its not just about how much do I risk and how much do I earn.
It’s also about how you manage it.

i personally prefer the 30 pips SL. And ratio at least 1:2 but better 1:3 so there must be opportunity to aim for a target at least 50/60 pips away
if wrong, its ok, there will be another opportunity next.
i don’t like to manage drawdown. Causes me frustration, confusion, anger, stress.
But that’s me. Anyone has own personality and views
90% of traders use TA, indicators and prediction
  • #799,879
  • Edited 12:12pm Dec 30, 2023 11:45am | Edited 12:12pm
Quoting _BBKing_
{quote} I read quarterly a bit different. not saying you are wrong, just sharing my view. read the following from left to right following price moves. It seems to me price is trying to find support to go higher. {image} of course, best would be looking to find a buy sign near support area so this is somewhere near 1,25 or maybe 1,24 area. but also there could be a small pullback in nearest demand area then push up to major resistance higher than 1.30. also could be a straight move up then a total failure down. quarters analysis includes...
everybody reads things differently and thats what makes the market

i will say that the way you read that chart is in the texbook style that everybody uses at first unless they wise up im sure everyone thats graduated university with a brand new degree and bright outlook on his future will agree that very soon after entering the workforce they realize their textbook learning is work crap...the real world doesnt work the way textbooks say it ought to so why do so many people trade the way textbooks say they ought to but 95% still fail?


let me give an example from this past week....wednesday the hourly chart was rallying because of some news i guess i dont remember and im too lazy to look back but i mentioned the hourly candles looked parabollic and are beggin to be shorted
Quoting Zebi
i feel foolish pointing this out but such a parabolic rise on hourly just begging to be shorted im already short on my one of my sell limit orders and will prolly short the close of this hourly candle too {image}
that was wednesday...thursday price fell

what you shud do is read the chat from wed and thurs and see who was boolish and why cause they were wrong and their TA shud prolly be ignorned or even faded LOL

heres why the small timeframe traders always lose 95% of the time..

as you can see from the hourly chart i seen a bearish reversal opportunity inspite but more importantly because price was rising LOL
Quoting Zebi
{quote} {quote} good mornin gemtlemen...took a long time to fall but finally did LOL just like musks rockets and cars.... shit falls when it goes parabolic put in a stoploss now that im in profit and will ride this eyeing a target at 2649 to take profit {image} {image}
now on this next post i compared the 15 and 5 min traders to the hier timeframe ones
Quoting Zebi
ok gentlemen...let me give beginners my take on trading and why one shudnt be a trend trader i guess the new metric for failure in trading is 95%... beginners read learn watch utube vids and trade following the trend nlike everyone tells them to yet most still bust out...id say 90% of the 95% losers are trend traders so why be one LOL imm gona post 3 charts one of the parabolic one that said was begging to be shorted and 2 small timecharts {quote} thats my hourly chart postand below will be a 15 min and 5 min charts so as you can see people that...
Quoting Zebi
to continue my other post dont be so myopic and dumb that you think you can pick bottoms and tops on 5 or even 15 min charts...if you do its plain ole luck except for those people that post screenshots of just their profits day in day out LOL so again trend traders ALWAY ALWAYS ALWAYS are wrong and lose out at trend turns so why be like those dipshits thats why i say i go against the room since its mainly trend traders and im goin against them cause theyll be wrong at the reversals im not sayin to trade like me bein contrarian im sayin just...
so dont fall for conventional wisdom BBking...somebody posted the textbook definition of what inside candles are so in 3 or 4 weeks we'll see if they or I are right

try looking at that quarterly chart you posted thru reversal eyes instead of trend ones
short trump and go long the deepstate
  • #799,880
  • Edited 12:31pm Dec 30, 2023 12:07pm | Edited 12:31pm
so as you can see in my examples 5 min traders thot they hit the proverbial jackpot cause price was going up to infinity or 3100 but us jaded old fooks knew better LOL

i say alot gets lost in translation on FF...its an american site but most people are from around the world with varying levels of english proficiency so they use translation and grammer apps to understand and be understood


that loss in translation also applies with TA.... people will prolly never agree with me because im not a trend trader like most on here and they will never see eye to eye with me because im a contrarian and theres also a difference the way prop firm and real money people trade

thats why theres misunderstandings in language and TA on this site

so there two choices...be part of the majority that gets all the likes and loses 95% of their accounts or be the opposite LOL

im not trying to get people to change their style of trading cause that would mean theyd have to change their personalities but maybe read a chart a little bit differently
short trump and go long the deepstate
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