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Cable Update (GBPUSD)

  • #833,781
  • Jul 30, 2024 11:26am Jul 30, 2024 11:26am
Quoting Waveskierrob
{quote} You do know how forums work don't you?, you made a statement I asked a question then you answer the question is how it generally works or am I missing something here, if you can't answer the question I would suggest not making the statement, it's fairly simple...
and these kind of people call themselves traders
How to succeed in zero sum game?
  • #833,782
  • Jul 30, 2024 11:26am Jul 30, 2024 11:26am
  •  sam02
  • | Joined Apr 2014 | Status: Learn and assured of it 2Tim.3:14 | 93 Posts
Quoting thevisitor
don't forget a truncated wave 5: {image}



i believe the least low for these week has been experience yesterday.

i mean yesterday low will be the lowest low for these week
  • #833,783
  • Jul 30, 2024 11:32am Jul 30, 2024 11:32am
Quoting sam02
{quote} i believe the least low for these week has been experience yesterday. i mean yesterday low will be the lowest low for these week
we'll never know..how it unfolds
  • #833,784
  • Jul 30, 2024 11:32am Jul 30, 2024 11:32am
Quoting dempire1
{quote} and these kind of people call themselves traders
Statement posters with no substance, as soon as you ask them a question they go all woke...
  • #833,785
  • Jul 30, 2024 11:38am Jul 30, 2024 11:38am
Price seem to be flirting with 1.2790 magnet area... This will be a very good area to long for a swing target of 1.3000... waiting isn't easy especially if the planned area doesn't happen.
Data + Stat + Risk/Emotions Management
  • #833,786
  • Edited 11:58am Jul 30, 2024 11:40am | Edited 11:58am
Checking usdx , just after the start it starts pullback . No power to do bull at present but within control , after little correction it may bounce again , so 2 5h candles may take time and likely next day !
So the morning views , daily close below 2851 may stand today
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Not understand?better not follow my analyses!doubt clearer first, risks ++
  • #833,787
  • Jul 30, 2024 11:45am Jul 30, 2024 11:45am
Quoting Waveskierrob
{quote} Statement posters with no substance, as soon as you ask them a question they go all woke...
those who know how to trade know what it's all about.
the rest will understand one day.
  • #833,788
  • Jul 30, 2024 11:45am Jul 30, 2024 11:45am
Maybe FOMC won’t move the market as much especially if there is no hint of a cut in September however NFP on Friday could blow the market. If data green then we could see 126 especially if BoE cuts rates which seems to be the chat
Insane in the Brain..
  • #833,789
  • Jul 30, 2024 11:55am Jul 30, 2024 11:55am
Quoting tiborf71
{quote} those who know how to trade know what it's all about. the rest will understand one day.
Please help me understand...
  • #833,790
  • Jul 30, 2024 12:01pm Jul 30, 2024 12:01pm
Quoting BeeTogether
Maybe FOMC won’t move the market as much especially if there is no hint of a cut in September however NFP on Friday could blow the market. If data green then we could see 126 especially if BoE cuts rates which seems to be the chat
When big news fails may any smaller or none even burst market if wants !
So live long price action ! Short still active !
Attached Image (click to enlarge)
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Not understand?better not follow my analyses!doubt clearer first, risks ++
  • #833,791
  • Jul 30, 2024 12:58pm Jul 30, 2024 12:58pm
  •  sam02
  • | Joined Apr 2014 | Status: Learn and assured of it 2Tim.3:14 | 93 Posts
Quoting thevisitor
{quote} we'll never know..how it unfolds

i agree...if today price close below 12830 we could experience 12796 tommorrow
  • #833,792
  • Jul 30, 2024 1:12pm Jul 30, 2024 1:12pm
Quoting Waveskierrob
{quote} Statement posters with no substance, as soon as you ask them a question they go all woke...
And you’re the bad guy because you questioned
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How to succeed in zero sum game?
  • #833,793
  • Jul 30, 2024 1:36pm Jul 30, 2024 1:36pm
Quoting Georginson
Price seem to be flirting with 1.2790 magnet area... This will be a very good area to long for a swing target of 1.3000... waiting isn't easy especially if the planned area doesn't happen.
just a thought,
what about BOE super thursday?
if they cut the rate then 1.30 will not be as easy as you might think,
some great analyst i know told me Pound is too expensive right now,
do you know what that means,
they dont like it at 1,30 or 1.29
so i asked got decent reply 1.2650 next week is not a strech.
as they trade long term,
i am just pointing out the facts,
because those bloody institution guys,
i was one of them i traded for them for 3 years,
still have my Employee card also,
anyways spending 3 years with them learned a lot,
before i got my own Asset manager License, from Uk.
and let me tell you its not about money it cost 300$ in 2014
it maybe 700 pounds know since FCA UK gives them now,
and they ask for live account and they do their own risk assesment,
loosing months winning months Equity Curce, Draw Down, etc,
how many trades were open,
and what you get is 30:1 leverage for 1st year then 50:1 leverage hedging is not allowed,
FIFO fule etc,
my point its not how much you an make in a month or year,
its all about Consistency,
no over trading no reckless trading,
soo many people come to me for Funded trader programs etc,
its bloody scam,
trust me i have seen it with amny good traders,
you pay 300$ to get 10K account
and read the rules its 6% drawdown and you get margin call and your moeny is done,
some offers 10% but again,
reatail trader cant do with 1:1 leveage on each trader end of the month you will get 10% from the profit,
and the greed FOMO effect high leverage most are used to gives you high drawdowns,
and that is what they are counting on,
and JUST FYI its not real money its actually demo,
they know 90% will fail and that will be 30K for 100 traders,
and 10 will win and they get only 10% with 10K account you may make 10% easy with low leverage and deciple trading,
but in the end you have 1K and you got back 100$ and those 80% who lost will give the company a hell of money,
its good business model,
people will come back for more and more.
Trading is an Addiction like gambling but much worse,
you don't even realize you are addicted,
trust me,
that is what they count on.

anyways lets get back to Trading,
my point buying not be as good as you might think,
but selling at higher price for me it will not be a bad call,
if it did hit 1.29 on Friday or above i will start selling its time to come back to Pound as well,
but in my experience GBPNZD is better choice i will wait for little high before add another trade.
but hey its just me,
there are million great traders,
just sharing what my analysis are telling me,
Good luck Guys,

"A Good man Apologize for his mistake, but Great Man Corrects them" Goethe
Don't compare your Trades with Others
  • #833,794
  • Jul 30, 2024 1:58pm Jul 30, 2024 1:58pm
Quoting DubaiFX
{quote} just a thought, what about BOE super thursday? if they cut the rate then 1.30 will not be as easy as you might think, some great analyst i know told me Pound is too expensive right now, do you know what that means, they dont like it at 1,30 or 1.29 so i asked got decent reply 1.2650 next week is not a strech. as they trade long term, i am just pointing out the facts, because those bloody institution guys, i was one of them i traded for them for 3 years, still have my Employee card also, anyways spending 3 years with them learned a lot, before...
One of the best posts i have seen here on this thread... Very well said mate.
The market structure is absolutely random and anything can happen which is why 93% fail and lose money. I have been on a very bad run but hey, I'm not giving up. My range methodology of trading hasn't been working as it used to, which explains why i have been struggling. Now i try as much as possible to be reactive instead of being predictive.
Data + Stat + Risk/Emotions Management
  • #833,795
  • Jul 30, 2024 2:29pm Jul 30, 2024 2:29pm
Quoting Georginson
{quote} One of the best posts i have seen here on this thread... Very well said mate. The market structure is absolutely random and anything can happen which is why 93% fail and lose money. I have been on a very bad run but hey, I'm not giving up. My range methodology of trading hasn't been working as it used to, which explains why i have been struggling. Now i try as much as possible to be reactive instead of being predictive.
nice to see
someone actually gets it,
Good luck Brother wish you all the best,
just remember few things
1: a day trader doesn't mean you have to trade every day
2: they say Avoid emoitions, its human nature with out emotions we cannot feel jor or sorrow,
and you can never be emotion less like a robot we are humans,
so what i did was put limitation my Emotions during trading, honestly i do get emotional at times even after 15 years,
i simple close my laptop and go out and forget after few hours when i come back things are much clear,

i have a quite few and my youtube cahnnel will explain everything,
i am postiing from many years but one research shows tha watching is more effective then reading,
specially when you show you trades, and how you did it,
because that how people get inspired, and maybe maybe someone will learn how and what to avoid,
probelm with many traders is thay they want Quick profits,
it is not possible, i have tried last year and it did worked out well,
1700% profit LIVE account on myfxbook.com you can check,
but in long term you will always loose i do sometimes put small money and trade with high leverage and once the account is standrd account like 3K i put in Copy trading with low leverage and let it ride,
there are few things they never want you to know,
many things after 3 years trading for big boys i have learned what are their principles and how they make consistent profit, each month each year,
in my videos i will explain everything,
it will be in 5 languages,
because i very fluent with Slang in 5 languages,
yes by bring Trilingual culture helped me a lot,
i hope it will help few traders who actually want to understand the market.
anyways GOOD luck Guys.
Don't compare your Trades with Others
  • #833,796
  • Jul 30, 2024 2:38pm Jul 30, 2024 2:38pm
Quoting DubaiFX
{quote} just a thought, what about BOE super thursday? if they cut the rate then 1.30 will not be as easy as you might think, some great analyst i know told me Pound is too expensive right now, do you know what that means, they dont like it at 1,30 or 1.29 so i asked got decent reply 1.2650 next week is not a strech. as they trade long term, i am just pointing out the facts, because those bloody institution guys, i was one of them i traded for them for 3 years, still have my Employee card also, anyways spending...


Gu is expensive for the micro traders
Gu is cheap for the Macro traders..

we are currently in the 2nd side of the market the which is the bullish as long as the historical low hold
looking at my 3 levels structure gu at 1.30 yes we should see a decent range back to 1.20 or 1.19 area so for me above 1.30 give decent sell zone below 1.20 is safe buy zone on a long term spot..
MY OPINION NOT FINANCIAL ADVISE
  • #833,797
  • Jul 30, 2024 3:01pm Jul 30, 2024 3:01pm
Quoting donfriday
{quote} Gu is expensive for the micro traders Gu is cheap for the Macro traders.. we are currently in the 2nd side of the market the which is the bullish as long as the historical low hold looking at my 3 levels structure gu at 1.30 yes we should see a decent range back to 1.20 or 1.19 area so for me above 1.30 give decent sell zone below 1.20 is safe buy zone on a long term spot..
i dont argue,
i believe in Discussion because
"arguments are about WHO IS right, and Discussions are about WHAT is RIGHT"
but Micro trader i am not,
we look for months ahead not days,
just a question,
what is you average return since 2020??
connect your account with myfxbook it is great for analyzing your trades DD and average return on monthly basis and yearly basis,
let me make it simple,
if you started an account with 10K and in 2024 after 4 years what is your total profit for 4 years and average Yearly profit?
please dont show me,
just look for your self, and then you may realize how good you are doing from past 4 years,
its that simple we look at quaterly returns and Yearly mostly,
i am not trading short term,
we do not use Leverage,
that mean if i have 10K account i will be trading with 0.1 LOT size,
that is 1:1 leverage,
maybe i make only 8-10% monthly some months i dont even get 7% but end of the year i am still up 50% and that is 50% more wealth with minimum risk,
anyways sometimes we have to hold the positions for long time but it doesn't matter because 200 pips is just 2%
and i dont trade GBPUSD i left it long time ago i go with Cross pairs minor pairs,
if i am going to trade Pound


learned a lot from investment company trader,
i still remember when we got to 5.6% we were ordered to stop trading that was enough that is good enough profit for a month.
that is how they stay in the game,
anyways Good luck brother,
wish you all the Best.
i hope you will not take offense dear,
Don't compare your Trades with Others
  • #833,798
  • Jul 30, 2024 6:01pm Jul 30, 2024 6:01pm
Quoting DubaiFX
{quote} i dont argue, i believe in Discussion because "arguments are about WHO IS right, and Discussions are about WHAT is RIGHT" but Micro trader i am not, we look for months ahead not days, just a question, what is you average return since 2020?? connect your account with myfxbook it is great for analyzing your trades DD and average return on monthly basis and yearly basis, let me make it simple, if you started an account with 10K and in 2024 after 4 years what is your total profit for 4 years and average Yearly profit? please dont show me, just...
Most people here prefer who is right.

Egoistic.

They are not egoistic by nature but the market made them egoistic.

I dont mean to say about Don but most here
Intraday only.
  • #833,799
  • Jul 30, 2024 7:55pm Jul 30, 2024 7:55pm
Quoting Georginson
{quote} One of the best posts i have seen here on this thread... Very well said mate. The market structure is absolutely random and anything can happen which is why 93% fail and lose money. I have been on a very bad run but hey, I'm not giving up. My range methodology of trading hasn't been working as it used to, which explains why i have been struggling. Now i try as much as possible to be reactive instead of being predictive.
Range has dried up, Mate. Small gains are still possible.

Cheers!
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #833,800
  • Jul 30, 2024 10:33pm Jul 30, 2024 10:33pm
GBP/JPY: Long re-trade was nervous but profits were made.
It's a new system, but the basics remain the same.

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