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Cable Update (GBPUSD)

  • #844,261
  • Nov 4, 2024 11:15am Nov 4, 2024 11:15am
Quoting dempire1
{quote} You can see all you want but you haven't traded it have you? We all see but none of us have anything to show for
Okay! I rest my case.

Have a nice day.
Market Structure is the King.....
  • #844,262
  • Nov 4, 2024 11:33am Nov 4, 2024 11:33am
Quoting dempire1
{quote} Food for thoughts I checked it and he trades futures. Futures is another story another feed, same as stocks. As far as Bookmap goes then before joining his platform I would compare it to SierraChart or Ninjatrader platforms. These two platforms are currently the best for optimization, backtesting and AI (SC not that much on AI but their developers are pretty open minded). As far as pricing goes then they both are cheaper and a lot of more features available for free. Compare! And for forex there isnt any available order book like this because...
Futures charts feed is the same as what we see in cfds on mt4/5 , i have traded forex futures using analysis on mt4 , it is the same for forex and indices etc. Some currencies you have to trade the opposite way.

The point i was making about bookmap is that it explains some basic things such as there are two tiers of orders , limit which are the institutional orders and they are always above or below current market price the rest are market orders ie spot , banks us and whoever else places a buy or sell immediately into the market.

So how do you trade if you do not know when a spot order is placed and we have no idea where limit orders are and even if we did we can not know the reaction price will have when limit orders are hit, sometimes price will sail through and sometimes it will bounce off.

So technical analysis is mostly BS .

I look at it this way

Banks are there to facilitate their customers orders ie exchange one currency into another they create trends because that is how they make money for themselves using their customers money, the customer does not care so long as the bank fills their order at a reasonable price.

Today i traded dax, nasdaq, dow and bitcoin all on the 5 minute chart following what the banks or spot market was doing by looking for pullbacks in a swing, all good trades.

Banks etc expand - pullback- expand - pullback etc they keep doing this until their order is complete im pretty sure there is some collusion going on in the interbank markets as it does not explain how banks fill these orders without any interference from another bank.
Follow The Markets Structure - Patience and Discipline
  • #844,263
  • Nov 4, 2024 12:00pm Nov 4, 2024 12:00pm
Quoting pipfarm
{quote} Futures charts feed is the same as what we see in cfds on mt4/5 , i have traded forex futures using analysis on mt4 , it is the same for forex and indices etc. Some currencies you have to trade the opposite way. The point i was making about bookmap is that it explains some basic things such as there are two tiers of orders , limit which are the institutional orders and they are always above or below current market price the rest are market orders ie spot , banks us and whoever else places a buy or sell immediately into the market. So how...
Yes. With currencies aka forex(https://en.m.wikipedia.org/wiki/Foreign_exchange_market) we can’t see the order books because they do them like this: https://www.investopedia.com/terms/o/otc.asp
anything listed on official NYSE we can see the order book if we buy the data feed from data providers for examples https://www.nyse.com/market-data/real-time#multiple or
bloomberg terminal, or use NT8, SierraChart and other similar tools. Different level of data up to L3. Whatever suits anyones goals.

Edit: added link
How to succeed in zero sum game?
  • #844,264
  • Nov 4, 2024 12:11pm Nov 4, 2024 12:11pm
Quoting dempire1
{quote} Yes. With currencies aka forex(https://en.m.wikipedia.org/wiki/Foreign_exchange_market) we can’t see the order books because they do them like this: https://www.investopedia.com/terms/o/otc.asp anything listed on official NYSE we can see the order book if we buy the data feed from data providers for examples https://www.nyse.com/market-data/real-time#multiple or bloomberg terminal, or use NT8, SierraChart and other similar tools. Different level of data up to L3. Whatever suits anyones goals. Edit: added...
The point i was making is that order book or not most of the movement is caused by market orders therefore order book trading is a totally different style and the wait to reach order book limits is long because these large institutions are not in and out of the markets every 5 minutes.

People need to understand that they are looking at market orders or past orders on their charts , they are meaning less , all we are doing is anticipating the next move.
Follow The Markets Structure - Patience and Discipline
  • #844,265
  • Nov 4, 2024 12:25pm Nov 4, 2024 12:25pm
Quoting pipfarm
{quote} The point i was making is that order book or not most of the movement is caused by market orders therefore order book trading is a totally different style and the wait to reach order book limits is long because these large institutions are not in and out of the markets every 5 minutes. People need to understand that they are looking at market orders or past orders on their charts , they are meaning less , all we are doing is anticipating the next move.

So where does my edge come from

It is a simple fact that trends are created using market orders from banks therefore i follow what the banks are doing by trading their flow which changes according to when they are conducting their business of exchanging currencies for their clients.
Follow The Markets Structure - Patience and Discipline
  • #844,266
  • Nov 4, 2024 12:29pm Nov 4, 2024 12:29pm
Quoting fontu
Go fast ! Eurusd to start gap filling below 0870; and gbpusd corresponding 2916 , then bottom test !! {image} {image}
2916 could happen overnight (for us in Europe) all depends any crazy spikes we may get
Insane in the Brain..
  • #844,267
  • Nov 4, 2024 12:51pm Nov 4, 2024 12:51pm
Quoting dempire1
{quote} Your knowledge is very minimal and I don't even think my answers are going to help you because you don't even understand the very simple basics. Lets give it a try: You mentioned "large institutions swings markets from end to end bro large banks investors if you do economics you would know this retailers are caught in the middle of it trying to make a profit but it's a system created to benefit the institutions if you dive deeply even how brokers work its a system set up to make you fail every step of the way" and so on... FOREX trades on...
I just saw this if you really believe building a system is so easy to benefit off the market go right ahead but to say I was speaking garbage bro your are quite foolish where algorithms present back in the day? I read everything you said and based on my understanding I agree with some of what you said but everything else is utter rubbish bro majority of person trades with broker aren't even open on real markets unless they are extremely profitable most are done in server next all trading is buying and selling to maximize profitability you have to participate in the movement of the currency not when its ranging thats why most scalpers fail miserably at forex stocks crypto you have to create a system to follow the trend I may start trading forex late but u studied economies at the university level and I also have a proper understanding of most system such as banks institutions and liquidity providers come on man I never said at any point in time that anything is manipulated I said predetermined level if you consider that manipulation that's on your and your ignorance at the end of the day bro read what I said to understand not to respond I believe in my system I post my trades and based off my sample size I more than can prove that my understanding of the market is a fact not a theory or stupid things such as algorithms algorithms are nothing more than a scam to take money from foolish lazy people
  • #844,268
  • Nov 4, 2024 2:39pm Nov 4, 2024 2:39pm
Quoting pipfarm
{quote} So where does my edge come from It is a simple fact that trends are created using market orders from banks therefore i follow what the banks are doing by trading their flow which changes according to when they are conducting their business of exchanging currencies for their clients.
so what is different from what I said
  • #844,269
  • Nov 4, 2024 2:41pm Nov 4, 2024 2:41pm
Quoting Pat Chiko
What bribe? In the US we call that 'lobbying'. {image} The UK government is corrupt. They don't serve their own people. One million pounds! What an overkill, you can have British politicians far cheaper than that.
25 years in jail for that one but guessing it won't happen, low lifes on both sides of the equation.....
Is it a current story or old news Pat?


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Don't Leave Money on the Table
  • #844,270
  • Nov 4, 2024 3:10pm Nov 4, 2024 3:10pm
1 hr tf in 1 min chart

Out of outerband is sell /buy areas
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Intraday only.
  • #844,271
  • Nov 4, 2024 3:10pm Nov 4, 2024 3:10pm
The oracle of the Khao Kheow Open Zoo in Chonburi, Thailand 'Moo Deng' the baby pigmy Hippo has made her decision and decided President Trump will be the 47th President of the US. This will make Trump a 3 time president

Will her psychic prediction be on par with Paul the psychic octopus who predicted the winning teams in the 2010 World Cup with incredible accuracy, truly a psychic phenomenon
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Don't Leave Money on the Table
  • #844,272
  • Edited 3:44pm Nov 4, 2024 3:30pm | Edited 3:44pm
Had a great days trading yesterday and if I can get better at displaying the appropriate information will upload much more of it. Thing is I put on so many trades and a bit embarrassed to show just how many but the upshot is I made $331,633 Angolan Kwanzas
In the heat of battle it just happens but afterwards I look at the P/L and think "did I really do that many trades"
Aiming to stabilize on $181,200 Kwanzas per day, but like yesterday if there's more to be had might as well keep trading
My initial trade was 1.2976 but price pulled back and added trades, took profits then bought again with each pullback. I just buy most of the time because I've always struggled with selling but on occasion will sell.
I'm the real deal always have been and don't do Demo because it's too easy, zero emotional content with Demo. Only with a live account will you be taken through the depths of despair and hopefully get to the other side. What doesn't kill you makes you stronger.
If you are trading Demo then also open up a small live account for extra training
Pepperstone Account


Deposit/Withdrawal: -300.00 Credit Facility: 0.00 Closed Trade P/L: 548.39
Don't Leave Money on the Table
  • #844,273
  • Nov 4, 2024 4:40pm Nov 4, 2024 4:40pm
Quoting HaLBot
Had a great days trading yesterday and if I can get better at displaying the appropriate information will upload much more of it. Thing is I put on so many trades and a bit embarrassed to show just how many
I hear ya! I used to run 25-30 trades at a time some moons ago. Too much, you have to be like a concert pianist to stay on top of it all. Keep it under 12-15 these days, mix of currencies, indices and commodities. And sometimes just flat, waiting for the PA to bump into my entry confirmation checklist. Way easier.
  • #844,274
  • Nov 4, 2024 4:45pm Nov 4, 2024 4:45pm
Quoting Jade Gate
{quote} I hear ya! I used to run 25-30 trades at a time some moons ago. Too much, you have to be like a concert pianist to stay on top of it all. Keep it under 12-15 these days, mix of currencies, indices and commodities. And sometimes just flat, waiting for the PA to bump into my entry confirmation checklist. Way easier.

Awesome Jade

Are you going to trade Gbp/Aud on interest rate news or maybe Aud/Usd??


Dodgers kicked arse
Don't Leave Money on the Table
  • #844,275
  • Nov 4, 2024 4:57pm Nov 4, 2024 4:57pm
Quoting HaLBot
{quote} Awesome Jade Are you going to trade Gbp/Aud on interest rate news or maybe Aud/Usd?? Dodgers kicked arse
Already in several position trades AUD related, have been for the last week. RBA are in something of a bind huh? Labor govt on the nose with voters, excessive immigration, cost of living pressures, mortgage stress everywhere.

Dodgers did amazing, was great to serve it up to the Yankees at Yankee Stadium. I've suggested to Dave (team manager) that they need a calendar of their boys wearing not much. Freeman, Glasnow, Buehler, Smith, Teoscar, Kike etc. I'd pay good money for that
  • #844,276
  • Nov 4, 2024 5:03pm Nov 4, 2024 5:03pm
Quoting Jade Gate
{quote} Already in several position trades AUD related, have been for the last week. RBA are in something of a bind huh? Labor govt on the nose with voters, excessive immigration, cost of living pressures, mortgage stress everywhere. Dodgers did amazing, was great to serve it up to the Yankees at Yankee Stadium. I've suggested to Dave (team manager) that they need a calendar of their boys wearing not much. Freeman, Glasnow, Buehler, Smith, Teoscar, Kike etc. I'd pay good money for that


I bet you would Jade along with many women across the globe, Dodgers would make a fortune
Don't Leave Money on the Table
  • #844,277
  • Nov 4, 2024 5:37pm Nov 4, 2024 5:37pm
Quoting 19monza64
{quote} Hey man what about gold ? Can you share your view?
A regular flat and an extended flat +formation.
Watch the fib when it happen.

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or
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I come from the future.
Karen X Mas Bonus 2025 All Time Profit: $15,104
  • #844,278
  • Edited 8:02pm Nov 4, 2024 6:27pm | Edited 8:02pm
for me, downside direction is confirmed/ ticked.

all small arrows may be traded with the direction of the big arrow signal
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  • #844,279
  • Nov 4, 2024 6:41pm Nov 4, 2024 6:41pm
Quoting oo7rai
for me, upside direction is confirmed/ ticked. all small arrows may be traded with the direction of the big arrow siganl {image}
do your indicators repaint?
be a thinker before being a reacter
  • #844,280
  • Nov 4, 2024 7:03pm Nov 4, 2024 7:03pm
If had to use any indicators they would be rsi a moving average ,ADR, AWR and AMR. I have been dabbling in the markets like 9 years or so and I’ve just come to the realization that in my experience multiple indicators can kill your account. I’ve switched up the repainting lagging indicators and I e switched to live data that kind of tells me what market participants may be doing. I feel that participants make up the volume so that’s what I’m seeking to discover, where could other participants be putting their money on a given day or week. I’m looking for money flows and it appears to make sense on my end. Knowing the market sentiment and attempting to track what markets participants are going to and from makes price action appear to make much more sense. Gotta think outside the box in this game.
be a thinker before being a reacter
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