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New Cable Thread & Other Pairs

  • #2,681
  • Edited 4:16am Apr 24, 2024 4:00am | Edited 4:16am
Quoting GOR
{quote} GM Pedro, I went over the GU orders on Monday, And I'm curious to ask about your MM, if you want to explain a little. Your first long was 1.2359 Then I had a setup for the sell at 1236 that I didn't take, but could have been a nice hedge Did you hedge there? Finally the long arrived at 1.230 How did you manage the 50 pips DD? No SL? Assuming that you added (bigger?) orders for 1% risk and expected a profit of 4-3R, the DD was already close to the entire expected profit
I am glad you asked.
The idea was to keep adding but so that the DD never went over 1% regardless of the number of positions, in anticipation of bounce.
Basically I had an AB-CD on H1 and added at every extension.
Then I said, if I would take the loss, I would open another long at 1.2259 risking 2% and small stop, single entry.
You do pay attention to detail and that says what kind of trader you are.
There were no hedges, only scalps from those levels to make some while the rest went against me.
I only hedge when in profit between 75-100 pips.
GL
We watch the charts from every angle so you don't have to!!
  • #2,682
  • Apr 24, 2024 4:03am Apr 24, 2024 4:03am
Quoting pedro319
{quote} Gold Worst case scenario before we reach 2370. Bfly buy H1. {image}
I will try a Gold long with SL below pivot.
  • #2,683
  • Apr 24, 2024 4:03am Apr 24, 2024 4:03am
Took eurusd long at 1.06820. Target 1.07 ish
  • #2,684
  • Apr 24, 2024 4:05am Apr 24, 2024 4:05am
Quoting pedro319
{quote} I have a couple of sequence of moves in my mind and that is def one of them!! 1.0679 is intraday fib confluence, so ideal for bounce.
We watch the charts from every angle so you don't have to!!
  • #2,685
  • Apr 24, 2024 4:08am Apr 24, 2024 4:08am
Quoting Mihisti
{quote} I will try a Gold long with SL below pivot.
You could also wait for Bfly buy lower, this pa is indicating lower I am afraid.
GL.
We watch the charts from every angle so you don't have to!!
  • #2,686
  • Apr 24, 2024 4:35am Apr 24, 2024 4:35am
Quoting pedro319
{quote} I am glad you asked. The idea was to keep adding but so that the DD never went over 1% regardless of the number of positions, in anticipation of bounce. Basically I had an AB-CD on H1 and added at every extension. Then I said, if I would take the loss, I would open another long at 1.2259 risking 2% and small stop, single entry. You do pay attention to detail and that says what kind of trader you are. There were no hedges, only scalps from those levels to make some while the rest went against me. I only hedge when in profit between 75-100...
Thanks
We must learn every day, and improve, the matrix is only getting better)
Did you think the risk was low because of the AB-CD? or the daily FVG with weekly support? both?
'In the clearing stands a boxer And a fighter by his trade..'
  • #2,687
  • Apr 24, 2024 4:42am Apr 24, 2024 4:42am
Quoting GOR
{quote} Thanks We must learn every day, and improve, the matrix is only getting better) Did you think the risk was low because of the AB-CD? or the daily FVG with weekly support? both?
On the Daily price is also going through an AB-CD...bounces from those extensions are going to be over 100 pips.
The risk of loss was big but I mitigated it buy having a low risk trade (accepting only 1% potential loss but in exchange of potential 3-4% win) and ready to trade the next level on D1 more confidently.

For me, probabilit,y is number one thing in trading, I adapt risk tolerance, stop size depending on what I see.
Ex: If I get 1.0734-45 on euro, the first short will be bigger because it's first touch... after that, have to be more careful...
I am pretty sure you understand.

Another example: Gold, if we get 2280 that is a very high probability of first bounce and then reversal, because of the pattern itself and because of support + oversold D1.
We watch the charts from every angle so you don't have to!!
  • #2,688
  • Apr 24, 2024 5:03am Apr 24, 2024 5:03am
Quoting pedro319
{quote} On the Daily price is also going through an AB-CD...bounces from those extensions are going to be over 100 pips. The risk of loss was big but I mitigated it buy having a low risk trade (accepting only 1% potential loss but in exchange of potential 3-4% win) and ready to trade the next level on D1 more confidently. For me, probabilit,y is number one thing in trading, I adapt risk tolerance, stop size depending on what I see. Ex: If I get 1.0734-45 on euro, the first short will be bigger because it's first touch... after that, have to be more...
And when DXY is at weekly resistance and GU reaches weekly support, something has to happen..
DXY is still in control
'In the clearing stands a boxer And a fighter by his trade..'
  • #2,689
  • Apr 24, 2024 5:08am Apr 24, 2024 5:08am
Quoting GOR
{quote} And when DXY is at weekly resistance and GU reaches weekly support, something has to happen.. DXY is still in control
That is beyond any reasonable doubt !
We watch the charts from every angle so you don't have to!!
  • #2,690
  • Apr 24, 2024 5:10am Apr 24, 2024 5:10am
Quoting pedro319
{quote} You could also wait for Bfly buy lower, this pa is indicating lower I am afraid. GL.
Yes, you are correct. My sl was activated. Let’s wait for another opportunity!
  • #2,691
  • Apr 24, 2024 5:14am Apr 24, 2024 5:14am
Quoting Mihisti
{quote} Yes, you are correct. My sl was activated. Let’s wait for another opportunity!
Much better opps incoming, tomorrow PCE will make things move a bit.
We watch the charts from every angle so you don't have to!!
  • #2,692
  • Apr 24, 2024 5:17am Apr 24, 2024 5:17am
come on fiber.. we have some liquidity above....
Attached Image (click to enlarge)
Click to Enlarge Name: screenshot.png Size: 33 KB
...I Bet You Ain't Never Seen A Donkey Fly!
  • #2,693
  • Apr 24, 2024 5:48am Apr 24, 2024 5:48am
Expecting US$ will make a huge move to the upside by this week or at most by next week.
How you exit from trades, is all that matters..
  • #2,694
  • Apr 24, 2024 6:00am Apr 24, 2024 6:00am
Quoting pedro319
{quote} Much better opps incoming, tomorrow PCE will make things move a bit.
You read me or we read the same wrong publisher!

Tomorrow its the US GDP and US PCE it's Friday!

Sorry if it was me but the half responsibility have the publisher which I cant remember now.
Looking for profitable short term trades ...|
  • #2,695
  • Apr 24, 2024 6:01am Apr 24, 2024 6:01am
Closed all trades at BE or small upside. I'm out until the road block is no more.
  • #2,696
  • Apr 24, 2024 6:10am Apr 24, 2024 6:10am
Quoting LoneTrader1
USDCAD {image}
Like it but think it might need a retrace first b4 next drop
  • #2,697
  • Apr 24, 2024 6:38am Apr 24, 2024 6:38am
Quoting T721
{quote} Like it but think it might need a retrace first b4 next drop
I enjoyed the zoom session very much and I think a lot of people would benefit from watching maybe next time.
I have learned a bit from a concept I know very little.
Thank you so much.
God bless.
We watch the charts from every angle so you don't have to!!
  • #2,698
  • Edited 6:59am Apr 24, 2024 6:40am | Edited 6:59am
Just some musings from an old time trader---

Think about this and let it sink in..... gbp.usd has ran up 155pips from the recent lows. Now if you caught some or even all of that move do you really want to risk some of those profits trying to buy again = Hell no

You need to wait at lest for a decent pullback which it hasnt done yet. Could it run another 100pips up = possible it coould but buying now is pure gamble

Patience is always key -- YOU DONT NEED TO TRY n CATCH EVERY MOVE its account suicide... if it goes up let it go without you. You shoulda made money anyway from the trade off the weekly OB if you took it

I made a lot of money on this up move no need to risk any of those gains now. Just sit it out till you see a setup

I know its hard watching price all day and your bias goes to plan and you didnt act on it but why risk your gains . Always try to let the market come to you

The market will do what the market will do. We are only retail and even if everyone on forex factory bought gbp/usd at the same time using full margin the price would not move one quarter pip. THATS THE FACT JACK --- we gotta try ride with the big players and if that means being flat for a day, 2 days or longer then we have to be flat
  • #2,699
  • Apr 24, 2024 6:41am Apr 24, 2024 6:41am
Quoting dilidanjaro
come on fiber.. we have some liquidity above.... {image}
I would like T7 to comment on this chart, looks good to me!
We watch the charts from every angle so you don't have to!!
  • #2,700
  • Apr 24, 2024 6:43am Apr 24, 2024 6:43am
Quoting pedro319
{quote} I enjoyed the zoom session very much and I think a lot of people would benefit from watching maybe next time. I have learned a bit from a concept I know very little. Thank you so much. God bless.
Glad you enjoyed it. Will try to do zoom every Sunday for the next 4wks but will be going to South France for 3 - 4wks starting 22nd May and then resume sessions when i get back

Actually Skype would be a much better medium to use as we dont get cut off every 40mins
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