Cable Update (GBPUSD)

I confess, I think I already knew the subject of today’s movie, … was made by a book I used to know…
of course, to make it easier to understand, the movie, I added some subtitles, those red lines, … vary rare for me but still, I pretend I know what I am doing. To make it easier to understand, I added in the last img a bigger font, I mean, an extra red line …

as you see, there was already a chance for me to go out at be with all the trades, when it cross the red line like in butter, but even if I thought I knew it, this is a good movie to watch, so, went into the drama, … added one extra at the bottom.

why did I exit and did not wait for tp? … never what those movie creators plan for audience, not all respect the book.

with the subtitles added, does it make sense why it may reach 2718/28? Or maybe 28xx or … ok, I stop throwing numbers I already mentioned.





I may look on the next movie too, or not, but can’t spend the day only watching movies …

I see now 2632, …. Interesting!

fomc is just the minutes nothing new unless they announce rates going up really soon

I'm down to 0.02 lots because I've gone down from £300 this morning to £75 now. I think I'm going to quit before I have a stroke or suicide. Last two days:

Not sure about the name of the book, it was something like: tp hunting!
you got it, right?

As I said in earlier post, take a rest m8 say for a month and clear your head.
The markets will always be here....


If you come back to trading I wouldn't trade Gold.

GJ is turning out ok. tp1 and 2 hit

Regarding the JOLTS report...What happens with jobs in the run up to Christmas? They go up so companies can meet demand. What happens after Christmas? They lose them (short term christmas contracts). It's no mystery.

closed at 1.2623
short 1.2323

add short

Just sick of it.

"Look for structure on higher timeframes"
"Make your entries on lower time frames"
"Wait for a pullback and confirmation"
"Markets don't move in a straight line"

What happens?
Price ploughs through every structural level and moves in a straight line (gold) or not at all (GBP). I sold at the top GBP yesterday and on gold today but apparently pullbacks are sooooo 2023

Hi Ferna

You know, I think I told you I'm not on Forex Factory for another 6 months. As I don't start serious trading till next week, I thought I'll waste my time here while I'm bored for a few more days.

If I had a trading hero, it would be Navinder Singh Saro who is of course the infamous Crash Trader. This is the guy the Authority's blamed for almost bringing down the US stock market back in 2010, when really it was Quants turning off their Algorithm's and hence removing all liquidity from the markets on the day. He was one of the first traders to understand how the Algorithm's were manipulating the markets liquidity and he came up with a method to destroy the edge these Algorithms were having. He was a major disruptive to their coding strategy's and he had to be closed down real quick. Of course he was spoofing which was soon to be banned and also his prosecution by US authority's which led to Jail time for him. Let's not also forget about "Voldemort" as well. He is the other big spoofer from Russia which everyone is too scared to even say his name.

Soon after, many small guys were shut down or jailed to prevent the them getting an edge over these Algorithm's. This led to a reduction of spoofing nowday's by 50% so spoofing is vastly reduced in 2024.

Therefore

Most spoofing now is performed by Market Makers and Quant Firms allowed to fraudulently stut there stuff without any competition from any other competitor's. It's sometimes hard to define what is a spoof and what is Marker Maker activity LOL.

SO

Now we know who's spoofing (sorry Market Maker Activity) AND now we know where to look because their actions are very traceable in certain conditions.

I know this is a long-winded post but here's my answer. As they use Algorithm's to perform the process of market manipulation (Sorry Market Making Activity's), we can spot their spoofing once the Bid / Ask imbalance increases to certain levels (ratio's) - their spoofing can be identified and therefore eliminated from the totals.
We have often a second or two to act, speed of execution is not always their edge like many traders believe in the trading Future Markets.

We got the bastards now - we can slip in front of them or ride their backs to profitability. This is one alternative method to beat the Market Makers (sorry Spoofers) and it's a totally honest way of attempting to remove the advantage these Algo's have over smaller market competitor's.

PS.. I perform no form of spoofing within the Future Markets and ensure my trading meets CME guidelines at all times.

Trading can be stressful, especially day trading where most traders try to pick tops and bottoms. Everyone has their own preference but I believe the less trades taken the better. The other thing is the volume. Risk 0.5% per trade or less, give trades room to develop. That way there is way less pressure and recovering from a drawdown is easier.

Take some time off. Go through your journal. When you look back in hindsight, your mistakes become more obvious and obvious.

Re-evaluate your strategy. Know your edge. Be comfortable with losses. Take small losses quickly. Let profits run.

Cliche I know but it works for me

Buying again 2620…

just added GJ long

target R2

out with little bit, as my curiosity went on other aspect



will it dare to go under the red line?
of course, which one? The one that almost reached or the one that is not long enough …. Big dilemma!

edit: it is like being on the margin call with the account, if you know what I mean!

Gold tp. waiting for reverse

I was asking myself why I am not selling it? And just did, 2624.

2610 unlikely to break.

Above this number, bullish bias

How did I know that GU was going to range *af today ?