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New Cable Thread & Other Pairs

  • #8,001
  • Jul 24, 2024 12:44pm Jul 24, 2024 12:44pm
Gold back to 2411?
  • #8,002
  • Jul 24, 2024 12:50pm Jul 24, 2024 12:50pm
Quoting SmallGains
{quote} A little choppy due to holding some longer plays but overall yes I have a increase in profits with a decent win to lose ratio. Trying to get better every day with protecting what I have and making a better entry and exit....at the moment when I exit seems to be still my biggest struggle (I tend to leave lots and lots on the table) but am working on that part as well (your def helping me there). My entry point are pretty close but sometimes I still don't give myself enough space to have it move against me. 7 days till I can make my first...
Very good. Not the kind of curve I like but nevertheless it's a start.
I always ask my students how much do you want to make? Some would say: 40K a year.
Then I say: You need a 200 k account, that way you only need to make 20% a year and that is very easy and not stressful at all.
It all boils down to, how much do you want to make?
Keep it small.
We watch the charts from every angle so you don't have to!!
  • #8,003
  • Jul 24, 2024 12:52pm Jul 24, 2024 12:52pm
Quoting Mihisti
Gold back to 2411?
2404 at least.
Remember we have a signal to take out the lows at 2260.
I am not sure market whether market is going to attempt higher again but the signal is strong.
We watch the charts from every angle so you don't have to!!
  • #8,004
  • Jul 24, 2024 12:55pm Jul 24, 2024 12:55pm
Quoting SmallGains
EJ down 930 pips from top to todays low. Close to your 1k call out pedro . {image}
He made it look easy.
I only follow traders with IQ above 160
  • #8,005
  • Jul 24, 2024 1:01pm Jul 24, 2024 1:01pm
Gold
Bfly is working, pa matches the pattern. You can also see a H&S forming.
I think Gold wants to say goodbye 2500 and Hello 2260.
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We watch the charts from every angle so you don't have to!!
  • #8,006
  • Jul 24, 2024 1:03pm Jul 24, 2024 1:03pm
Quoting Bflyfx
{quote} He made it look easy.
Right! God like call out for it day before it starts doing its thing and its like nothing to him . Meanwhile for me I am left scratching my head thinking maybe he a wizard or something
  • #8,007
  • Jul 24, 2024 1:06pm Jul 24, 2024 1:06pm
Quoting pedro319
{quote} Very good. Not the kind of curve I like but nevertheless it's a start. I always ask my students how much do you want to make? Some would say: 40K a year. Then I say: You need a 200 k account, that way you only need to make 20% a year and that is very easy and not stressful at all. It all boils down to, how much do you want to make? Keep it small.
Yea its not the prettiest picture for what i would want either. I still work a full time job so I don't need 40k a year. But I have considered getting a larger amount of a challenge just for the fact that the % made would be easier and less stressful. I have a 100k challenge from FXIFY that i have not started yet. Should probably start playing that one on MT5 platform.
  • #8,008
  • Jul 24, 2024 1:13pm Jul 24, 2024 1:13pm
Quoting SmallGains
{quote} Yea its not the prettiest picture for what i would want either. I still work a full time job so I don't need 40k a year. But I have considered getting a larger amount of a challenge just for the fact that the % made would be easier and less stressful. I have a 100k challenge from FXIFY that i have not started yet. Should probably start playing that one on MT5 platform.
The problem with the scalping business is that ppl cannot hold any positions. That makes it more difficult to get the full moves.
These prop firm accounts are good for swing trades imo.
We watch the charts from every angle so you don't have to!!
  • #8,009
  • Jul 24, 2024 1:13pm Jul 24, 2024 1:13pm
Quoting axecap
EURUSD weekly. {image}
could fly to 1.13 ?
  • #8,010
  • Jul 24, 2024 1:28pm Jul 24, 2024 1:28pm
Quoting pedro319
{quote} The problem with the scalping business is that ppl cannot hold any positions. That makes it more difficult to get the full moves. These prop firm accounts are good for swing trades imo.
I can say I agree and I would prefer to be more of a swing trader if I am being honest. Though scalping can be lucrative if done right the amount of stress you have can make it not worth it. I know I need to work on getting myself set up to do more swing plays than scalping. Ill take consistency growth over really good days followed by some bad days even if I still come out on top in the end.
  • #8,011
  • Jul 24, 2024 1:53pm Jul 24, 2024 1:53pm
Odd time but played well so far . Take care
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Not understand?better not follow my analyses!doubt clearer first, risks ++
  • #8,012
  • Jul 24, 2024 3:40pm Jul 24, 2024 3:40pm
Pedro, the Fib expansions on Gold are shown in the chart. The first one is the Red box that marks 100% at 2331. The second one is the Red box that marks 161.8 % at 2270.
Which one do you think is more likely to happen? I have several shorts open and would love to know how you would play this.

Thanks a lot.
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Observation is the path to discovery.
  • #8,013
  • Jul 24, 2024 3:50pm Jul 24, 2024 3:50pm
Quoting pedro319
{quote} With this speed it's hard to believe it will go higher but I am a Fx Bible disciple and I must stick to the 10 commandments.
The importance of the close candle now we have diference view 1,077 it’s my strong resistance because of confidence.
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Scalping
  • #8,014
  • Jul 24, 2024 4:02pm Jul 24, 2024 4:02pm
Quoting hans91
{quote} could fly to 1.13 ?
Maybe or just a bounce and back down.
I favour shorts back to 1.0746 after a bounce
Its all just one persons opinion
  • #8,015
  • Jul 24, 2024 4:04pm Jul 24, 2024 4:04pm
Quoting guguxpto
{quote} The importance of the close candle now we have diference view 1,077 it’s my strong resistance because of confidence. {image}
yes, im looking at the same area
Its all just one persons opinion
  • #8,016
  • Jul 24, 2024 4:16pm Jul 24, 2024 4:16pm
I like 1.08 for a fist test then 1.077
  • #8,017
  • Jul 24, 2024 5:12pm Jul 24, 2024 5:12pm
Quoting SmallGains
I like 1.08 for a fist test then 1.077
as in punch through
Its all just one persons opinion
  • #8,018
  • Jul 24, 2024 5:22pm Jul 24, 2024 5:22pm
Gold M30 after some drawdown 4 positions now in profit....
2360 then 2331 ish.

todays ADR 2366.24

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Its all just one persons opinion
  • #8,019
  • Jul 24, 2024 5:23pm Jul 24, 2024 5:23pm
Quoting pedro319
{quote} The problem with the scalping business is that ppl cannot hold any positions. That makes it more difficult to get the full moves. .
Ive had more scalping postions turn into long term "investments than I would care to admit.
Its all just one persons opinion
  • #8,020
  • Jul 24, 2024 9:59pm Jul 24, 2024 9:59pm
Ive been asked about ADR (Average Daily Range) and how to calculate it. I thought I would post my response here in case others are interested.

The reason I use it is because if im going to enter a trade I like to know where the pair are at at in terms of pips already moved in any one direction for the day.
Its surprising how it runs out of steam at around the daily average. Often reversing. If a pair has alerady done its ADR before NY opens then its a high probabilty
its going back the other way, even if no other obvious S or R. I will also use the ADR as a TP, or nearest S or R if I want to be out of a trade before the weekend or whetever other reason, e
To calculate I use a free indicator on Trading View. https://www.tradingview.com/v/AcQmPC0B/
I set the length to calculate the average at 24 days just my preference.
At daily open the high and low are set for the day purely based on the average number of pips.
If it goes all the way up and then all the way down then the level will move from the distance of the high to the bottom based on the average pips.
I usually only mention ADR when we are past London open and the momentum is strong in one dierction.
I mentioned it today at open for Gold given that I expect it wont be going up to break the high.

I dont have mt4 but believe this is the same https://www.fxdayjob.com/best-adr-indicator-mt4.
Its all just one persons opinion
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