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Cable Update (GBPUSD)

  • #829,481
  • Jun 13, 2024 8:43pm Jun 13, 2024 8:43pm
Quoting Reverso
{quote} Yeah, just when I was about to be amazed in disbelief when he show quick gains, I thought he finally got risk management but here we are, seeing him posting about almost wiping his account, so we know he is still gambling. I mentioned it before, if he don't overcome this, he will never make it to he high balances, and will always stuck in 3 digits balance territory by having quick 3 digit gains and then lost it all, then fund it again, the cycle repeats. For small accounts (USD 1k to 10k), by risking 1% to 2% per trade, any unexpected spike...
That's right. He is too caught up in the "excitement" of the unknown outcome of trading and just too focused on trying to make money daily. Also, it seems like that he believes that he thinks he needs to be "busy", i.e. he needs to be taking lots of trades to make money, in and out of lots of trades, like being busy in a physical job, where as in trading it is the opposite... you just gotta have that ability to sit on your hands in a winning trade and let it play out. And yeah, that can be hard. Come on Moty, get it together man! Stop trying to make money, just focus on making epic trades, and the money just follows!
Emotional Control. Process, not outcome.
  • #829,482
  • Jun 13, 2024 8:58pm Jun 13, 2024 8:58pm
Quoting Konichiwhaat
{quote} That's right. He is too caught up in the "excitement" of the unknown outcome of trading and just too focused on trying to make money daily. Also, it seems like that he believes that he thinks he needs to be "busy", i.e. he needs to be taking lots of trades to make money, in and out of lots of trades, like being busy in a physical job, where as in trading it is the opposite... you just gotta have that ability to sit on your hands in a winning trade and let it play out. And yeah, that can be hard. Come on Moty, get it together man! Stop trying...
Yeah he becomes an entertainment at this point, and has always been.
When I first pointed out about the risk management, someone in the forum lashed at me for telling the truth and ask me to show my PNL, maybe because the spectators want to continue to see this clown show, you can see he got lots of like by keep posting his charts, getting likes can be addicting, I know. While the likes may seem that the forumers are supportive of him, but it is actually reinforcing his destructive behavior on his own account, further hindering his growth. He continues to ignore risk management, and probably will continue even after this post, I cannot control what others decide to do.

What you said is true, at the end, trading is boring, not exciting.
My system is based on limit orders, it is possible for the market to never hit my limit orders for many days straight, and that's very boring, but when it hits, the trade is a high probability trade and most likely wins. I don't even analyze chart anymore because I'm not so focused and fixated on 1 direction. I play both sides, no need any hammers or whatnot to make the price move, let the market move wherever it wants, and I can still make money.

Already coded all my ideas into EA and now it is just doing all the work for me. I don't lift a single finger for trading nowadays, just occasionally open my MT4 and see how much PNL is being made, and close it and go about my day, trading is THAT boring. Also, what's the point if trading makes you busy and end up didn't have the time to enjoy life? We need to look past the blind spots. We are in this trading business so that we can make money and enjoy life of freedom, instead of chained to the desk and keep trading, worst if trade your main account for excitement. If want that trading excitement, do it in a small account that you don't mind blowing it. Everyone is different, I might even open a small account just for that excitement someday, I want to be like Moty again, but not in my main account.
https://www.myfxbook.com/members/NGplus/freedom-you-deserve/11268620
Freedom you deserve. All Time Return: 63.3%
  • #829,483
  • Jun 13, 2024 9:11pm Jun 13, 2024 9:11pm
Quoting Reverso
{quote} Yeah he becomes an entertainment at this point, and has always been. When I first pointed out about the risk management, someone in the forum lashed at me for telling the truth and ask me to show my PNL, maybe because the spectators want to continue to see this clown show, you can see he got lots of like by keep posting his charts, getting likes can be addicting, I know. While the likes may seem that the forumers are supportive of him, but it is actually reinforcing his destructive behavior on his own account, further hindering his growth....
Risk management... you hit the nail on the head right there! Be it hedging, stop loss, what ever, some sort of risk management is key!
As for the "likes" , yeah that's just mental. You'll notice, people will only ever like a post that is in line with their own personal trade idea, to kinda verify their own personal trade direction decision and to make them feel like maybe they got it right. But at the end of the day none of that matters.

But HEY, maybe some people just like the frill of gambling in trading. And if that is the case and they honestly know they are gambling for entertainment and excitement, then fair enough I guess
Emotional Control. Process, not outcome.
  • #829,484
  • Jun 13, 2024 10:20pm Jun 13, 2024 10:20pm
Quoting Konichiwhaat
{quote} Risk management... you hit the nail on the head right there! Be it hedging, stop loss, what ever, some sort of risk management is key! But HEY, maybe some people just like the frill of gambling in trading. And if that is the case and they honestly know they are gambling for entertainment and excitement, then fair enough I guess
Far too many newbies and those with more years under their belts become thoroughly addicted to having a trade on. It's like a drug to them. Must have it.

BUT if a trader wants to become consistently successful, you MUST have patience, discipline, and excellent risk management. If you don't, there will be many many margin calls and blown accounts.

Love a good position trade for these reasons. Patience, discipline, wait for price to come to you. Then sit back, hit your entry (right shoulder of anything that has legs for distance, long or short) and let market do the work for you. Frequent trading, i.e. scalping compounds risk in an already high risk instrument (and yes I know some traders love to scalp and say they are profitable at it, each to their own).

Liquidity and time of day matter greatly also. Pick your price point, wait, watch corresponding pair inter-relationships, double check everything, wait for price to test and hold. Min time-frame chart to take trade signal is 15M, the higher the time-frame, the better. Trading 1M or 5M charts is a fools game, imo.
  • #829,485
  • Jun 13, 2024 10:34pm Jun 13, 2024 10:34pm
coming event: removal of sloven Houthis from Yemen (إن شاء الله)
On August ؟؟
each day 10%,,,, https://www.forexfactory.com/thread/1371538
  • #829,486
  • Jun 13, 2024 10:37pm Jun 13, 2024 10:37pm
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JY 5' --- Great move here in $JY ...@@@!!! 158 to be hit within seconds.................

  • #829,487
  • Jun 13, 2024 10:38pm Jun 13, 2024 10:38pm
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yes yes yes
  • #829,488
  • Jun 13, 2024 10:42pm Jun 13, 2024 10:42pm
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JY --- DONE at 157.96 now

  • #829,489
  • Jun 13, 2024 10:48pm Jun 13, 2024 10:48pm
Quoting Jade Gate
{quote} Far too many newbies and those with more years under their belts become thoroughly addicted to having a trade on. It's like a drug to them. Must have it. BUT if a trader wants to become consistently successful, you MUST have patience, discipline, and excellent risk management. If you don't, there will be many many margin calls and blown accounts. Love a good position trade for these reasons. Patience, discipline, wait for price to come to you. Then sit back, hit your entry (right shoulder of anything that has legs for distance, long or short)...
Totally agree. This thread definitely has more traders who are interested in scalps, with so many many different views. With everyone so stubborn and focused on their own way, it actually creates quite a bizarre environment here... just a laundry machine of ego, celebration, despair, ups, downs and confusion. Actually... why are we all here???
Emotional Control. Process, not outcome.
  • #829,490
  • Jun 13, 2024 11:05pm Jun 13, 2024 11:05pm
Quoting Konichiwhaat
{quote} Totally agree. This thread definitely has more traders who are interested in scalps, with so many many different views. With everyone so stubborn and focused on their own way, it actually creates quite a bizarre environment here... just a laundry machine of ego, celebration, despair, ups, downs and confusion. Actually... why are we all here???
Yeah, you don't see me post often here, I just join the fun when red news about to come out, and predict a direction based on what I know about TA, but which direction the market end up doesn't really concern me, as you know I have positions on both sides, trade will be closed when price level is reasonable to close long/short. Some will be winners, some losers, but as long as I'm closing trades consistently at good prices, losers can be cut short, and winners get to be bigger.

Other than that, I browse here just to see everyone's sentiment, and the constant argument between some of the members are fun to watch, they're not here recently, wonder why. Want to step up the trading business? I doubt here is the right place. Gold nuggets can sometimes be found in Trading Systems/Strategies section, I browse there and learnt a ton, it partly contributes to the birth of my own holy grail after going thru so many pages of the wisdom provided by the serious forumers there.
https://www.myfxbook.com/members/NGplus/freedom-you-deserve/11268620
Freedom you deserve. All Time Return: 63.3%
  • #829,491
  • Jun 13, 2024 11:09pm Jun 13, 2024 11:09pm
At the end of the day, this section is interactive trading, I guess enough off-topic inputs from my end, and stay the course of this forum.

Long bias still intact as per my system,
1.271 to 1.273 is the fair price to buy for today,
1.278 to 1.28 is the fair price to sell for today.
TP for buy will be the fair price for sells, vice versa.
https://www.myfxbook.com/members/NGplus/freedom-you-deserve/11268620
Freedom you deserve. All Time Return: 63.3%
  • #829,492
  • Jun 13, 2024 11:51pm Jun 13, 2024 11:51pm
GJ
waiting for BOJ press conference
eyes on 198.8 for intervention
  • #829,493
  • Jun 14, 2024 12:08am Jun 14, 2024 12:08am
Quoting Reverso
{quote} Yeah, just when I was about to be amazed in disbelief when he show quick gains, I thought he finally got risk management but here we are, seeing him posting about almost wiping his account, so we know he is still gambling. I mentioned it before, if he don't overcome this, he will never make it to he high balances, and will always stuck in 3 digits balance territory by having quick 3 digit gains and then lost it all, then fund it again, the cycle repeats. For small accounts (USD 1k to 10k), by risking 1% to 2% per trade, any unexpected spike...
Good talk here Reverso, thank you
  • #829,494
  • Jun 14, 2024 12:20am Jun 14, 2024 12:20am
Checking pa , top failure and next likely failure of last leg up , so watching breaks 2738 towards 2687 play or more down possible 2642 as gbpusd bull was extreme exaggerated , may fall extreme lows to !
While eurusd playing existing swing near perfect , may test nest half of the body ., just watching for 0720 confirmation !
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Not understand?better not follow my analyses!doubt clearer first, risks ++
  • #829,495
  • Jun 14, 2024 12:21am Jun 14, 2024 12:21am
Come on mf
You owe from yesterday
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yes yes yes
  • #829,496
  • Jun 14, 2024 12:43am Jun 14, 2024 12:43am
Quoting Moty
Come on mf You owe from yesterday {image}
Yiu see how they are crooky?
They trying to goat me to switch to long and the minute I will do that ,they will drop like yesterday
I will live or die on that short , fuck them
Double or nothing
I am done with this shit
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yes yes yes
  • #829,497
  • Jun 14, 2024 12:47am Jun 14, 2024 12:47am
Quoting Reverso
{quote} Yeah he becomes an entertainment at this point, and has always been. When I first pointed out about the risk management, someone in the forum lashed at me for telling the truth and ask me to show my PNL, maybe because the spectators want to continue to see this clown show, you can see he got lots of like by keep posting his charts, getting likes can be addicting, I know. While the likes may seem that the forumers are supportive of him, but it is actually reinforcing his destructive behavior on his own account, further hindering his growth....
it sounds like GRID trading. congratulations that you were able to solve the countless problems associated with GRID trading.
  • #829,498
  • Jun 14, 2024 12:50am Jun 14, 2024 12:50am
Quoting Moty
{quote} Yiu see how they are crooky? They trying to goat me to switch to long and the minute I will do that ,they will drop like yesterday I will live or die on that short , fuck them Double or nothing I am done with this shit {image}
Dont mess with it.
they will take the low whenever they want.. dont give them your account
  • #829,499
  • Jun 14, 2024 12:55am Jun 14, 2024 12:55am
Quoting Moty
Come on mf You owe from yesterday {image}
No one owes you anything, try not to revenge trade to get back your losses, it is a guaranteed way to lose more, I've done that before long time ago.
https://www.myfxbook.com/members/NGplus/freedom-you-deserve/11268620
Freedom you deserve. All Time Return: 63.3%
  • #829,500
  • Jun 14, 2024 12:58am Jun 14, 2024 12:58am
Quoting magistr91
{quote} цель достигнута {изображение} {изображение}
Думать
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t.me/mrt141184
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