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New Cable Thread & Other Pairs

  • #3,841
  • May 5, 2024 4:09am May 5, 2024 4:09am
would a brain surgeon be trusted to perform open brain surgery after 2-3 years?

or can a talented drummer know all the tricks after 2-3 years and already earn a living at concerts?

in both cases the answer would be no.

only in trading does everyone expect to become a constant winner with one or two ‘systems’ in a short time period.
when i hear the word ‘system’, it makes my hair stand on end;-)

you have to like doing it AND you have to have the necessary time. otherwise, let someone else do it for you and devote yourself to other things.
trading is like dancing, don't think and just listen to the music!
  • #3,842
  • May 5, 2024 10:14am May 5, 2024 10:14am
Quoting Mcbeaners
{quote} added more shorts here.
well, didn't get the follow through i was expecting on friday so now open to in both directions imo. so will stand aside until its clear.
In tea leaves we trust!
  • #3,843
  • May 5, 2024 10:35am May 5, 2024 10:35am
Mr t what are your thoughts on euro. Long shadow maybe a quick trip to 1.070 area before a intaweek reversal?
  • #3,844
  • May 5, 2024 11:03am May 5, 2024 11:03am
Cunning as ever dear T721!:
Quoting T721
{quote} take your trades on the smaller time frame then switch to the bigger tf once its going in the right direction
Sounds like a chart move, but really is more of a risk management move

P.S thank you for all that you are doing mate, welcome back and hope you had the best vacationnnnnn and may the next be even better!!!!
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If I don't mention SL and/or TP = longer-term setup possibly in the works!
  • #3,845
  • May 5, 2024 11:21am May 5, 2024 11:21am
Quoting keyman.
Look how it overplayed me. {image}
Great example mate !!!

Look at that long wick/shadow on the candle before bought.

One should think: wait, price just made such a large wick up before going back down!
SO, if I buy now, what stops Mr.Price from doing the exact same thing, but in the opposite direction, and right before going to hit my TP?
Excellent question ! Answer: nothing.
Price is acting this way, long ugly slimy wicks, so we must trade accordingly

Solution : more appropriate SL or multiple SLs, for example using closing candle price instead of market price alone (you would have been half in after the wick, better than full loss). And again, this is just one trade, do this for 1000s, and then you have something to chew on and optimize .
It just part of diversification... Good for long-term consistency of some strategies... yaddi yadda
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If I don't mention SL and/or TP = longer-term setup possibly in the works!
  • #3,846
  • May 5, 2024 11:37am May 5, 2024 11:37am
Quoting vinesh1
Mr t what are your thoughts on euro. Long shadow maybe a quick trip to 1.070 area before a intaweek reversal?
Still see some upside yet for eu and gu ---- probably long eu to 10840/60. 10740 - 10700 would be a good range to look for buys imo

bank holiday in UK tomorrow so may not see much going on unless DXY moves
  • #3,847
  • May 5, 2024 11:38am May 5, 2024 11:38am
Quoting keyman.
Look how it overplayed me. {image}
Keep practising, you will get it eventually. Nothing comes overnight
  • #3,848
  • May 5, 2024 11:46am May 5, 2024 11:46am
Quoting T721
{quote} Still see some upside yet for eu and gu ---- probably long eu to 10840/60. 10740 - 10700 would be a good range to look for buys imo bank holiday in UK tomorrow so may not see much going on unless DXY moves
Exactly what I see - Just because the Daily candle retracted - I don't think it means bears took over. I see that wick as a potential retouch area actualy... We are still in control in bullish M30, H1, H4, D1. I have support as 1.073-1.074 but can be 1.075 if bulls don't want it to fall under the midway point. I had a potential retouch of 1.079-1.0800 before committing to a deeper low.
If 95% Of Traders Fail, Then Why Are You Doing The Same Thing They Are.
  • #3,849
  • May 5, 2024 11:46am May 5, 2024 11:46am
Quoting mtako
{quote}Great example mate !!! Look at that long wick/shadow on the candle before bought. One should think: wait, price just made such a large wick up before going back down! SO, if I buy now, what stops Mr.Price from doing the exact same thing, but in the opposite direction, and right before going to hit my TP? Excellent question ! Answer: nothing. Price is acting this way, long ugly slimy wicks, so we must trade accordingly Solution : more appropriate SL or multiple SLs, for example using closing candle...
That meme is my brain 24/7
If 95% Of Traders Fail, Then Why Are You Doing The Same Thing They Are.
  • #3,850
  • May 5, 2024 11:51am May 5, 2024 11:51am
Quoting Fxgfitking
{quote} That meme is my brain 24/7
  • #3,851
  • May 5, 2024 11:53am May 5, 2024 11:53am
Quoting Fxgfitking
{quote} Exactly what I see - Just because the Daily candle retracted - I don't think it means bears took over. I see that wick as a potential retouch area actualy... We are still in control in bullish M30, H1, H4, D1. I have support as 1.073-1.074 but can be 1.075 if bulls don't want it to fall under the midway point. I had a potential retouch of 1.079-1.0800 before committing to a deeper low.
Just a correction in the direction imo
  • #3,852
  • May 5, 2024 11:57am May 5, 2024 11:57am
Quoting Fxgfitking
{quote} That meme is my brain 24/7
And the less time we spend forgetting to remind ourselves not to believe everything we think, the more we learn and grow

So the less spaghetti, the better.

Ultimate goal: only one spaghetti left, and a forever full tummy .

Let's make it that lucky spaghetti right there:
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If I don't mention SL and/or TP = longer-term setup possibly in the works!
  • #3,853
  • May 5, 2024 12:56pm May 5, 2024 12:56pm
Quoting T721
{quote} Just a correction in the direction imo
We have this imbalance here on 4hr for euro. Need a liquidity sweep before going up imo. I could be wrong though.
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  • #3,854
  • May 5, 2024 2:01pm May 5, 2024 2:01pm
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  • #3,855
  • May 5, 2024 2:08pm May 5, 2024 2:08pm
So May is bullish for DXY? As per what I am seeing?
  • #3,856
  • May 5, 2024 2:18pm May 5, 2024 2:18pm
EURUSD
H4
RBS (resistance become support)

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And GBPUSD too

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  • #3,857
  • May 5, 2024 3:56pm May 5, 2024 3:56pm
Dividends for this upcoming week. FTSE showing 19point dividend, what a fuckingbeauty
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  • #3,858
  • May 5, 2024 4:11pm May 5, 2024 4:11pm
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  • #3,859
  • May 5, 2024 4:14pm May 5, 2024 4:14pm
Quoting mtako
Happy weekend to every single one of you And to all the loving chaps surrounding you!!!! {image}
Success!!

Have a great week everyone !!!
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If I don't mention SL and/or TP = longer-term setup possibly in the works!
  • #3,860
  • May 5, 2024 4:19pm May 5, 2024 4:19pm
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