Cable Update (GBPUSD)

Fuck gu
Long goldi

Moty.. Moty market is closing. Why would you expect predictable behaviour!? Chill already.

daily s1, 1.2610.

from 2610 to 2600 price to go high today.

why dont you tell us?

instead of repeating conventional bullshit so you dont have to commit publically long or short LOL

What happened to your trading account progress? I miss seeing you post your $$ gains.

whatevs...you prolly should wipe your glasses off cause thyere too dirty LOL

that was on MAY 31st 2021 and he was spot on to the pip cause the next day it hit 1.42505 so he was shorting and may be the richest guy here LOL

since youre that far back read the chat that week so you see which fools were boolish...ill bet its the same ole bunch of seniors thats always wrong on the turns now LOL

Finally!!!
New all time high account balance / net equity achieved today.
My system finally worked as originally designed because I stuck to it like I was supposed to.
Apparently, my biggest issue in the past has been not fully sticking to the system I was working with, any system.
During the 140 pip EUR/USD dump last week, I kept adding to my underwater long positions on the way down, per my system, with no less than 10 pips apart, each additional position larger than the last.
I ended up with 9 long positions. Then, at the bottom of 1.0802, my average of +10 pips TP for longs was only 54 pips away at 1.0856. We ended up getting 62 pips retrace back up to 1.0864, so plenty of room to spare.
During the dump, I also opened 1 short position at a time with 10 pips TP. It would had obviously worked better just adding to the winning short positions and riding it all the way down, but the thing is, you never know when it's going to bounce. So, I had better peace of mind to just set a 10 pip TP, then keep opening another one, etc.
When it did bounce off of 1.0802, that short position went into drawdown, so I started adding more shorts to it, with no less than 10 pips apart. At the top of today's bullish action at 1.0864, my average of +10 pips TP for shorts was only 36 pips away at 1.0828, which did also get hit today.
So, a beautiful payday for me today!
However, because of so much drawdown, and averaging out with larger positions, the smallest positions (especially demo accounts) ended up taking losses.
But that's all part of the plan. This way, the largest positions are exposed to the least risk of loss, and end up taking the largest piece of the cake. They are the ones that I expect to keep upgrading to higher levels over time.
Currently, I have 1 short and 2 long positions in place, ready for the next cycle, large or small.
I can't say if this system would work as well with other Forex pairs.
It usually works pretty good for EUR/USD because of its tendency to consolidate and go sideways a lot and balance itself out after every breakout.
Completing level 3 of my system doesn't seem likely for the month of March anymore, so I'm moving that goal to the end of April. Maybe the goal should be more like achieving 1 new level every 2 months, which would be good enough.

Current progress so far:
11 Level 1 (demo) accounts are finished at +100% ROI.
4 Level 2 (Live) accounts are finished at +100% ROI.
5 Level 1 (Demo) accounts started with $100k.
7 Level 2 (Live) accounts started with $100.
4 Level 3 (Live) accounts started with $400.

Current Net Equity results from best to worst:

Level 3 Live $400 to $800:
#2 Level 3 = $505.03 (+26.26%) (21 trading days)
#1 Level 3 = $502.26 (+25.57%) (25 trading days)
#4 Level 3 = $465.98 (+16.50%) (21 trading days)
#3 Level 3 = $439.62 (+9.91%) (21 trading days)

Level 2 Live $100 to $200:
#10 Level 2 = $160.70 (+60.70%) (34 trading days)
#5 Level 2 = $147.42 (+47.42%) (50 trading days)
#7 Level 2 = $124.15 (+24.15%) (49 trading days)
#9 Level 2 = $122.91 (+22.91%) (37 trading days)
#6 Level 2 = $87.95 (-12.05%) (49 trading days)
#3 Level 2 = $83.28 (-16.72%) (52 trading days)
#11 Level 2 = $60.20 (-39.80%) (31 trading days)

Combined results for live accounts:
Deposit = $1,900.00
Net Equity = $2,699.50
Profit +$799.50 (+42.08%)
(31-60 trading days)

Level 1 Demo $100k to $200k:
#14 Level 1 = $138,608 (+38.61%) (13 trading days)
#12 Level 1 = $116,368 (+16.37%) (15 trading days)
#13 Level 1 = $101,087 (+1.09%) (14 trading days)
#16 Level 1 = $85,375 (-14.63%) (13 trading days)
#15 Level 1 = $53,396 (-46.60%) (13 trading days)

Combined results for demo accounts:
Deposit = $500,000
Net Equity = $494,834
Profit -$5,166 (-1.03%) (13-15 trading days)

Overall equivalent results of 16 Total (Demo + Live) accounts combined:
Deposit = $1,600,000
Net Equity = $3,980,944
Profit = $2,380,944 (+148.81%)
(13-85 trading days)

Average 46.3125 trading days per account (16 Demo + Live accounts combined):
Average +1.99% ROI per trading day (+10.35% per week, +53.27% per month) compounded.

atleast you took my advice and reading old chats around trend turns...youll find yourself some people you can always go against without fear LOL

next time i have time to kill ill read the chat the week before and the week after that may 31 2021 market turn LOL

thanks

martingales gona kill you eventually...best to add using TA signals on hourly or 4H instead of spacing things out 10 pips apart

CADJPY SHORT
Entry 111.525
SL 111.714
TP1 110.630
TP2 109.920

Scalping, I think it's starting to switch trend to bearish(?)
I still don't know when it's the right time to lose the position, and end up losing the trades.
and I think this is a risky trade...

GBPUSD TFM30 pre-opening (on view)


Just a personal opinion.

30 hours ago i insinuated boj may have switched fuses on UJ rocket but looks like the engines ignited now LOOL

i just hope t isnt a elon musk rocket that will fall over

time to make suzuki and ueda cry a little

I didn't even know about the Martingale strategy until you mentioned it. So I looked it up. Well, I guess my system is somewhat similar to Martingale, but it's tweaked for effectiveness, plus I try to be aware of the macro fundamental situation and higher time frame technical indicators. If we get more volatility, then I will increase my minimum space between positions.
I'm not setting limit orders every 10 pips. I'm just letting price do what it wants when I'm not watching it, then if there is 10 or more pips drawdown when I look at it again, and if price looks like it might bounce, I add another position to average it up/down.
Also, if you check out price action on EUR/USD from the years past compared to today, trending action is generally a lot more tame now with a lot of sideways consolidation going on. That's why I think this system should work on EUR/USD for now with a small margin of error. I don't know about other Forex pairs. Usually, if there is less volume of $$ being traded on a Forex pair, then the potential of trending action without any significant retrace is more likely.
EUR/USD is, by far, the most heavily traded Forex pair, so the odds of out of control trending action is not so high.
Even still, I'll try to keep my eyes open for high probability trending action, and try to go with it.

Shorts stopped out.
Need to look for another setup?
May be long to 153?
Let it breakout and buy on RT, i dont long at resistance. Unless it flips and become support.

So many times, I've tried to get set up for trending action on EUR/USD, only to wait forever while price consolidated and went sideways.
If price action is consolidating 75-90% of the time, then that's where the money is.
If and when price does break out, a scalping or Martingale-like system should be set up to be able to handle it without losing too much.
I have only ever lost $$ when I tried setting up for a holy grail move that took too long to get started or never happened at all, and I kept getting stopped out, or when I lost faith in my Martingale-like setup, closed at a loss, and tried to go with the trend, and then got stopped out when price did retrace and the Martingale would had paid off.
My biggest regret so far has been not fully sticking to my Martingale system until now. I would be rich by now had I done that.
It's too easy to get distracted by those who predict macro trending price action, and let fear and/or greed get in the way.

like i been sayin ever since i switched over from gold thread to this room...99% of the 95% of losers are trend traders so why be a trend trader LOL

Patience or im just lucky

i feel foolish pointing this out but as long as price closes above 145.90 on the quarterly UJ chartit will be a buy signal so price shud go up for the next 3 months especially since BOJ admitting policy will stay accomodative LOL

no chart you all can look at the quarterly

https://www.forexfactory.com/news/12...ative-monetary

has seppuku been outlawed in japan cause some of these BOJ governors may have to do it for failing