New Cable Thread & Other Pairs

And this could possibly be the alt route ---- PS i do get trades wrong but most importantly if i do the risk is always, ALWAYS calculated

Going out for eats .... later all

Hi, long-time lurker (spy),

I'll keep it brief but honest, I live in the UK, I was financially bankrupt, lost a business, a home, wife and was homeless for 36 months. So, by no means am I glamourising who I am but with dedication, if you apply yourself, destroy that self-pity, seek knowledge and work and I mean really work, anything is possible with time.

My first trade was a MT5 account demo trade, the profit in one hour was more than a weeks' salary... so I thought if I make this much now, how much will I make when I know what I'm doing.... Predictably, I made a loss of £15000. It's been a long process of discovery, learning all sorts about my psychology, turns out impulsion, impatience and fear are not good traits for trading.

There's nothing unique about this story because we all seem to go through this process before eventually realising risk management and controlling your emotions is the key but thought a bit of background was relevant.

Terry (T721) your pursuit to expose scams & protect newbies, provide information for free from my experience is genuinely unique. I have downloaded nearly every pdf you have linked. You say, you want to help newbies avoid disaster and give a little back...you have in this case, maybe it's rare you get a thank you or maybe it isn't but genuinely thank-you, I mean really thank-you and carry on what you're doing!

I'm planning on sticking around and posting in here?, possibly learn some more and maybe contribute in the future if I'm welcome.

An obligatory chart: GPUUSD

Thanks for sharing your story.
Hope you sorted the bankruptcy issue.
Are you using Terry strategy? If not what?
Your chart has a bunch of indicators and zone marked (are they manually done?) and can't understand much.
Thanks

ok glad to post here of my views too .

free time , so checking usdx price action , about to get life usdx bull , very healthy and confident , others also fighting back and repeated doing random ranging , all may before good reaction next. for usdx resistances overhead waiting for confirmation bull action further and likely range up next weeks ok and as already done may less range down than ups ! anyway all may unstable till decision confirm ! usdx bull and others bear most probable ! take care
if bear gu , target likely for 1028 lows ! so 2610 ups or 2707 just plus ok to wait for tanking free falls if ! all as in higher tf !
but we usually not play high tf during day or swing . so in smaller tf , signal up done with broken 2538 , so intention further up for 1610+ but no necessarily now may correct enough in a h4 swing , top already broken but not hold last day , may reconfirm signal at towards target as low as or low before next bull / bounce . as usdx very strong and gu or other opposite pain though posing strong as well but may not hold all at the same , the string must break. most possibility usd bull and rest opposite bear , small bear , to intermediate to big ones all possible .

anyway we may not play higher tf during trading . so daily swing if in action then below 2421 to 2255 possible before try target , not necessarily to go to 2610 Plus ! lets see what happen next , breaks and hold signal 2456 or just carry on bounce having support around 2470. lets see , take care

Thanks Fontu

Strange, i clicked on M31 post but cant see it wanted to read his story but cant find it. anywhoo hopefully he will be making money if forex

M31 Hi could you repost, cant see it. lets see if we can help you. If you wanna get on Skype for a 1 on 1 let me know. Will take you thru how to trade ftse dividend and you wont need anything else to make money.... i posted examples and explained how to trade the div in @waveskierrobs thread


Hedging/averaging trades without prediction you might need to go back a week or 2 to find the posts

got 2 PMs asking for 1 on 1 ---- lets make it 1 on 2 and will start in 5mins

Sent Vinesh and Lineseeker Skype links.. lets go

May we get a recording of the session please?

The bankruptcy is sorted, it was in 2017 and a process over 12 months. You pay a fee normally but a creditor and court declared myself bankrupt, you have someone assigned to your case, they take your bank cards, assets, (possessions, cars & house) distribute to creditors and release you after 12 months. You may keep a bank account, but in my case my bank closed the account.. so, it was difficult to get a property, rent, apply for a new account or job and so homeless.

Chart wise its 1hr GBPUSD, which I exclusively trade because of impatience - EURUSD is way too slow...

Few things, which I cant do without,

On that chart its 200 SMA because higher timeframes it will stop price.
Dotted line is higher timeframe 4hr 200 SMA
Anchored VWAP - magenta line, I move it from weekly, daily, or last impulse move, day trading it sets my bias for the day.
Support resistance, usually from round whole numbers 1.23 - 1.235 etc
RSI for divergence
Volume is what's above RSI, volume is with my broker not whole market, but it gives me a good enough indication.
#1 for me everything is Fibs for targets and retracement, everything, inspect a chart it turns at 38, 50, 61 every time. If it's not in that area, I wait.
The numbers above high low are from a zigzag indicator with fibs numbers,- this I use the most, cant do without.
The blue and red dotted lines are from last low & highs, which I use as a stop or a breakout line.
ATR, i set a stop as 3x ATR from 1 hr.
Take profit I take at 100 pips regardless, 50% partial at 50 pips, I do this as a business, so revenue, capital is number 1 priority, control the greed.
All retracements, signals taking off 1 hour with Daily / Weekly for direction

I day-trade and close position at 17:00 GMT every day.

Strategy wise I suppose I'm London open and moving more towards swing trading from daily chart but at the moment I close every position at 17:00, sometimes close at New York open if a reversal looks likely. I exclusively trade GBPUSD not because of allegiance, just with age I struggle to monitor more than one chart.

I highlight fundamentals, where you see the commented data, green for positive & red for negative, but I don't really make decisions off, but I like to track.

Last 2 weeks fundamentals have told me. US data was strong, less likely for fed rate reduction. So, drop on 10th April, the following week was neutral data, (week from 15/4 - 19/4) so complete move to weekly order block. Possible shift towards more inflationary data for EUR / UK. Bailey said UK likely to lag US data and inflation will increase with it, so unlikely to reduce bank rate. EUR Lagarde said we will cut rates as planned as we are separate from US. - So, I summarise as hold, keep options open, accumulate position, hold at 1.25 for further data which we saw form last week week's move.

Next week is Fed rate & NFP, so If FED hold rate as expected and backed up with hot NFP, we're going south until 1.21, (the 1.27 fib extension from daily) & 1.16 monthly order block possible final destination.

If there's one thing I have learned from this process its strategy doesn't really matter, you can toss a coin every morning at 9am, heads buy, tails sell. With risk management, you will make a good amount of money. The problem I had was fear, I closed a trade early before the stop, convinced it was wrong. My win rate was 55% when I started, dropped to 35% at my worst. Its now 74%. That's not because I'm a trading GOD, or paid a guru for advice or signals, i control my emotions, I have a plan, set a stop, a take profit and execute the trade, let it run.

I edited to include GBPUSD as chart comment because I forgot and then newbie so post has to be moderated

Been looking at the charts and I believe this week will be the testing test 1.26 1.27 for a further push too 1.23 and 1.22

i dont record anymore

Okay. Hope the ftse div strategy will be part of tomorrow session. Thank you for your time

These are a few dividend examples, think i posted them b4 but its good to go over them