Attachments: Cable Update (GBPUSD)

Cable Update (GBPUSD)

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#802,701
Jan 15, 2024 2:34am Jan 15, 2024 2:34am

7154Superman
Joined Dec 2020 | Status: Trader | 1,210 Posts

Quoting Advice777

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I asked my broker tickmill if stop is respected during black swan? Stop Loss is not guaranteed during a "black swan" event of 2000 to 10,000 pips against your original stop loss. Meaning your account would be wiped out (my own rephrase) This makes trading forex a very very dangerous business for retailers. If I see a Prop Firm that would guarantee my stop loss during black swan, that is okay for me. Example if I am trading my own personal capital of 100k using stop loss of 100 pips and 1 lot, and a single trade of GBP/USD. If market flash 2000 pips...

Ignored

That's why I don't keep all my eggs in one basket. I like to spread everything out in multiple sub-accounts on Oanda, and go max leverage on each one. So, in case of a flash crash, only the accounts with an active position get affected.
If you have a $100,000 live account, then I would recommend dividing it into at least 10 sub-accounts of $10,000 each.

You cannot fail if you never give up.

#802,702
Jan 15, 2024 2:35am Jan 15, 2024 2:35am

7154Superman
Joined Dec 2020 | Status: Trader | 1,210 Posts

Quoting dantpm

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{quote} So you see her as a threat to Donald Trump and the Republicans?

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From the evidence I have seen, no. The democrats will burn.

You cannot fail if you never give up.

#802,703
Jan 15, 2024 2:43am Jan 15, 2024 2:43am

7154Superman
Joined Dec 2020 | Status: Trader | 1,210 Posts

Quoting 7154Superman

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{quote} Wow, nice spike! I see this as an opportunity to short higher for more pips. Entered a third demo EUR/USD short at 1.09614. Average Short position = 1.09542. No TP or SL.

Ignored

I see EUR/USD price dipping to the 8 hour 200 SMA area close to 1.08 first during the next few days before any significant bullish rally. I could be wrong. Do your own research.

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You cannot fail if you never give up.

#802,704
Jan 15, 2024 2:46am Jan 15, 2024 2:46am

Moty
Joined Dec 2017 | Status: Trader | 30,688 Posts

London open is crooky
This mf is going down

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yes yes yes

#802,705
Jan 15, 2024 2:50am Jan 15, 2024 2:50am

montygoldy
Joined May 2017 | Status: Intermediate Trader | 6,412 Posts | Online Now

Quoting mallee

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{quote} Good call Monty.

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Screaming thru all asian session gold easy money up buy at retracements … 2065-2070 can easily hit…

Extreme gut feeling trader

#802,706
Jan 15, 2024 2:50am Jan 15, 2024 2:50am

Advice777
| Membership Revoked | Joined Sep 2023 | 70 Posts

Quoting 7154Superman

Disliked

{quote} That's why I don't keep all my eggs in one basket. I like to spread everything out in multiple sub-accounts on Oanda, and go max leverage on each one. So, in case of a flash crash, only the accounts with an active position get affected. If you have a $100,000 live account, then I would recommend dividing it into at least 10 sub-accounts of $10,000 each.

Ignored

This isn't the solution either. How many retailers have a $100,000? If I have this amount, I wouldn't be trading forex but be in real estate for my peace.
Again how many traders have you seen using 1 lot on a 100k live account? I have seen Monty open a trade with $400 per pips on 100k 200k prop firm.
Truth is most people here wouldn't open a trade with $1 per pip on a 100k personal capital. I trade single pair of GBP/USD at any given time. For your information, black swan happens across all instruments. If there is a catastrophe in the US today that will affect USD by 5000 pips, other instruments will be hit severely negatively or positively.

There was guy on FF 3 or 4 years ago that burnt $2,000,000 in a day by less than 300 pips. What a suicidal trader is that? He took account from 100k to 2 million and back to 100k by wreckless trading. Not sure if he is still active. Deactivated his TE

https://trader.ftmo.com/metrix/1040315039

#802,707
Jan 15, 2024 3:03am Jan 15, 2024 3:03am

7154Superman
Joined Dec 2020 | Status: Trader | 1,210 Posts

Quoting Advice777

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{quote} This isn't the solution either. How many retailers have a $100,000? If I have this amount, I wouldn't be trading forex but be in real estate for my peace. Again how many traders have you seen using 1 lot on a 100k live account? I have seen Monty open a trade with $400 per pips on 100k 200k prop firm. Truth is most people here wouldn't open a trade with $1 per pip on a 100k personal capital. I trade single pair of GBP/USD at any given time. For your information, black swan happens across all instruments. If there is a catastrophe in the US...

Ignored

A black swan event has not yet happened on EUR/USD. I know of only one such event happening, and that was on CHF pairs quite a few years ago. I know of a Forex trading group who traded a lot of people's money from my church, who got affected by that black swan event and went bankrupt. That sort of thing has not happened since. But there is a possibility of that happening soon because of the USD switching back to the gold standard. There should be some kind of warning going out to the public beforehand, giving investors time to withdraw their positions. That, in itself, should cause stocks and crypto to dump hard, as well extreme black swan like volatility in Forex. Then when the great reset happens, it's best to not be holding money in anything except your own insured bank account. Not even real estate, especially if you have a mortgage on it. Because value of the real estate you bought for $100,000 USD in America could be worth only $10,000 or less after the reset. If you have a mortgage on it for, say, $50,000, then you will still need to pay that $50,000, despite the value having dropped to $10,000.

You cannot fail if you never give up.

#802,708
Jan 15, 2024 3:13am Jan 15, 2024 3:13am

7154Superman
Joined Dec 2020 | Status: Trader | 1,210 Posts

Quoting Advice777

Disliked

{quote} This isn't the solution either. How many retailers have a $100,000? If I have this amount, I wouldn't be trading forex but be in real estate for my peace. Again how many traders have you seen using 1 lot on a 100k live account? I have seen Monty open a trade with $400 per pips on 100k 200k prop firm. Truth is most people here wouldn't open a trade with $1 per pip on a 100k personal capital. I trade single pair of GBP/USD at any given time. For your information, black swan happens across all instruments. If there is a catastrophe in the US...

Ignored

Yes, that is reckless trading. That's why it's recommended to withdraw half the profit into your bank account after closing a big profitable high leveraged trade. So, even if you lose money afterwards, you will have something to live on for now.
Anyway, don't let fear and PTSD get ahold of you because of your bad experience. I would recommend taking a few months off for now until your mind stops hyperventilating whenever you look at the risk of losing. Then start trading small, with very little screen time. Until you can rest easy again during volatile price action. Know your limits. Good luck.

You cannot fail if you never give up.

#802,709
Jan 15, 2024 3:20am Jan 15, 2024 3:20am

cablekingdom
Joined Jun 2023 | Status: Trader | 303 Posts

In long-1.2735
Sl- 1.2718

Tp-1.2787

#802,710
Jan 15, 2024 3:20am Jan 15, 2024 3:20am

montygoldy
Joined May 2017 | Status: Intermediate Trader | 6,412 Posts | Online Now

Quoting Advice777

Disliked

{quote} This isn't the solution either. How many retailers have a $100,000? If I have this amount, I wouldn't be trading forex but be in real estate for my peace. Again how many traders have you seen using 1 lot on a 100k live account? I have seen Monty open a trade with $400 per pips on 100k 200k prop firm. Truth is most people here wouldn't open a trade with $1 per pip on a 100k personal capital. I trade single pair of GBP/USD at any given time. For your information, black swan happens across all instruments. If there is a catastrophe in the US...

Ignored

Its based on each person personality. I have trained myself through the years to consume all the mental pressure comes with bigger lots. The way i trained is i have a super conservatives main account on oanda like targetting 20% a year which i have successfully achieved for last 4 years. And then i play around with 1k-2k which i earned from forex and place nonsense lots in casino accounts/prop accounts ….for my regular expenses i have a high paying job. So in short my emotions is like this when i open a huge lotsize .. i already have lost 1k but if the trade wins its a surprise to me as well

Extreme gut feeling trader

#802,711
Jan 15, 2024 3:27am Jan 15, 2024 3:27am

dantpm
Joined Aug 2022 | Status: Trader | 4,859 Posts

Quoting Ferna

Disliked

Today WE have the first day of Davos, World Economic Forum annual meeting. The theme and name of this year for Davos is ”Rebuilding Trust” so we will see alot of talks about how to regain public trust. We got the biggest names on the planet coming, including 200 ministers/head of states, like for example Macron, John Kerry and secretary of state Anthony Blinken. Other prominent figures are CEO of ChatGPT Sam Altman and ukrainian war hero Zelenzky. Basically anyone who is somebody will be there. Please follow! As the future of tomorrow is shaped...

Ignored

Not sure how any current political leaders will be able to rebuild trust!

#802,712
Jan 15, 2024 3:36am Jan 15, 2024 3:36am

montygoldy
Joined May 2017 | Status: Intermediate Trader | 6,412 Posts | Online Now

Quoting montygoldy

Disliked

{quote} positive sl hit entered with better entry and again postive sl in place {image} {image}

Ignored

postive sl hit +25p

Extreme gut feeling trader

#802,713
Jan 15, 2024 3:45am Jan 15, 2024 3:45am

voeltoez
Joined Jul 2011 | Status: Hi hoo im back!! | 2,678 Posts

My H4 clear bearish now...expect 50 pips down from here 2730

#802,714
Jan 15, 2024 3:45am Jan 15, 2024 3:45am

Headland
Joined Apr 2020 | Status: Trader | 8,806 Posts

G/M, Friday's doji on dly t/f resolves to the downside so far today after an attempt on the 4hr part of the prev 1hr/4hr sw hi zone that extends up to fri's/last wk's 2785 hi, was repelled by the bears. A 1st downside break of the Asian lo now down the steepest 4hr asc t/line in a prev 1hr/4hr sw lo zone = prev supp = pot supp. Asian hi is presently the current dly hi. 1hr/4hr rangy right now, intraday bearish right now.

1hr below

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