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Cable Update (GBPUSD)

  • #853,281
  • Feb 6, 2025 9:14pm Feb 6, 2025 9:14pm
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yes yes yes
  • #853,282
  • Feb 6, 2025 9:28pm Feb 6, 2025 9:28pm
Quoting nubcake
Be SuperTaxiTruckMan: I can make 5% a month and be a millionaire by tomorrow, but I drive a burnt-out truck carrying cans to the local refund center.
Again, wrong. 5% per day compounded takes $100 to a million in less than a year. I haven't managed to achieve that daily growth rate consistently yet, however, it's my goal. I know it's possible.
And my truck is a potential million mile truck. A few examples of it have breached 1.3 million miles and still truckin' just fine. Mine is hardly broken in yet at 257k light duty miles. It's a shiny, sweet looking, rust free 30 year old antique dually truck with a screamin' macho sound with an AFE cold air intake, larger turbo downpipe and performance straight pipe exhaust, 5 speed manual, kitted to haul 20k lb gooseneck, everything fixed up and running flawlessly. It's one solid rig, the envy of my neighborhood. The resale value is worth more than the average condition similar mileage trucks that are 10 years newer.
And I have an appointment on Feb. 12 to have a tuner installed for an additional 50-140 HP and better mpg.
That's just the start. Many more performance and body upgrades to come.
This truck is being used to haul quality cargo and equipment for top dollar, pulling all sorts of trailers.
You cannot fail if you never give up.
  • #853,283
  • Feb 6, 2025 9:47pm Feb 6, 2025 9:47pm
Quoting 7154Superman
{quote} Yeah, that's not how I look at it. I use 50:1 leverage. My trade TP is +5% ROI (+10.4 pips in EUR/USD at current spot price area of 1.04). My trade SL is -4.761% ROI (-9.9 pips) So, if I lose one trade, then win one trade, I will be back to exactly B/E. Do the math. I can easily do 5 trades in a day if I spend enough time at it. So if I lose 2, then win 3, I net 1 win, which is +5% ROI for those 5 trades in 1 day. Or lose 1 and win 2. Same result. Or if I win the first trade, I take the rest of the day off. My struggle is to find the right...
My math might not be the same as yours. Starting from $100 to reach $10K might take at least 7 years in a live Forex account. It's different with prop firm leverage—going from $100 to $10K could take just 7 months. Lel
fooled by randomness in art
Meditation All Time Return: 8.9%
  • #853,284
  • Edited 10:50pm Feb 6, 2025 10:06pm | Edited 10:50pm
Quoting 7154Superman
{quote} Yeah, that's not how I look at it. I use 50:1 leverage. My trade TP is +5% ROI (+10.4 pips in EUR/USD at current spot price area of 1.04). My trade SL is -4.761% ROI (-9.9 pips) So, if I lose one trade, then win one trade, I will be back to exactly B/E. Do the math. I can easily do 5 trades in a day if I spend enough time at it. So if I lose 2, then win 3, I net 1 win, which is +5% ROI for those 5 trades in 1 day. Or lose 1 and win 2. Same result. Or if I win the first trade, I take the rest of the day off. My struggle is to find the right...
In fact, if you compound +5% gain per trading day, starting with $100 for a year minus maybe 4 business days like Christmas and New Year's Day and 2 other holidays, you would get 256 good trading days, which actually results in $26,574,222.19.
Or if you would have 64 break-even or off (no trade) days besides the 4 holidays in that year, you would still end up with $1,170,429.94, accomplished with 192 successful +5% ROI days. If you don't take any days off, that's less than 39 5-day weeks = about 9 months. All it takes is netting about 10-11 pips EUR/USD per day at 50:1 leverage. Average daily range is so much more than that. 10 pips is just a tiny chip of the avg daily range. And if I can keep everything in the account without withdrawing, it would take only 9 months from now for $100 to reach $1.17 million. If I would consistently withdraw half the profits every day and compound the rest, it would take 18 months to reach $1.17 million in the trading account and $1.17 million in my bank account, totaling $2.34 million.
Does anybody on FF trade higher volumes on EUR/USD in the USA so that 50:1 leverage isn't allowed? At what trade size do they reduce the leverage? At $1-2 million? $5 million?
You cannot fail if you never give up.
  • #853,285
  • Feb 6, 2025 10:19pm Feb 6, 2025 10:19pm
Quoting RoelsMajor
{quote} My math might not be the same as yours. Starting from $100 to reach $10K might take at least 7 years in a live Forex account. It's different with prop firm leverage—going from $100 to $10K could take just 7 months. Lel
Right, you're not doing your math right. Compounding is when you immediately re-invest the profit you made in your previous trade. Say, I take $100 and make +5% ROI. Now my account balance is $105. The next day I make another +5% of the $105, which results in $110.25. Next day, add +5% to the $110.25, which is $115.76, and so on. You will double your investment in 16 trading days, quadruple in less than 32 trading days, make 22 times your investment in 64 trading days, etc. Do your math and see for yourself.
In every trade, I am only risking a loss of 4.761% of my account, but if I can place my positions strategically so the stop loss rarely gets hit, it would work. That requires patience, like lying in wait until the right moment before entering your trade. I have yet to master that. If I win the first trade, I get to take the day off. If I lose the first trade, now I must win 2 trades, which then can make me frustrated and hasty, resulting in further losses. There again, I have yet to successfully discipline myself. It's all about patience and discipline, really. Then you can end up making that 5% gain in less than an hour of trading every day and have all the rest of the day to do as you please, live the high life, work at your hobby, or like me, drive my favorite truck, whatever you want.
You cannot fail if you never give up.
  • #853,286
  • Feb 6, 2025 10:27pm Feb 6, 2025 10:27pm
Quoting 7154Superman
{quote} Right, you're not doing your math right. Compounding is when you immediately re-invest the profit you made in your previous trade. Say, I take $100 and make +5% ROI. Now my account balance is $105. The next day I make another +5% of the $105, which results in $110.25. Next day, add +5% to the $110.25, which is $115.76, and so on. You will double your investment in 16 trading days, quadruple in less than 32 trading days, make 22 times your investment in 64 trading days, etc. Do your math and see for yourself. In every trade, I am only risking...
Thats not how money management works.
The compounding formulae out there is for fixed income, meaning a fixed and consistent income stream, which trading is not.
Also, the more money risked is not a linear function to more money gain.
With a positive market expectation trading approach (a winning strategy), the probability that you will fall behind the geometric mean growth is very very high, but also chances are high that you will end your month way bigger than what you have started with.

That left to say, instead of focusing onto compounding, focus on putting on quality trade. Which makes the $$$ flows in.
More time in the market, does not mean you trade better!
  • #853,287
  • Feb 6, 2025 10:51pm Feb 6, 2025 10:51pm
Quoting 7154Superman
{quote} In fact, if you compound +5% gain per trading day, starting with $100 for a year minus maybe 4 business days like Christmas and New Year's Day and 2 other holidays, you would get 256 good trading days, which actually results in $26,574,222.19. Or if you would have 64 break-even or off (no trade) days besides the 4 holidays in that year, you would still end up with $1,170,429.94, accomplished with 192 successful +5% ROI days. If you don't take any days off, that's less than 39 5-day weeks = about 9 months. All it takes is netting about 10-11...
So, the buck stops here. My net equity is $200.18. I set my stop loss for -4.761% which would result in an account balance of $190.65.
My TP is set for +5%, resulting in $210.19.
So, let's see which gets hit first.
I would prefer to withdraw half the profit after achieving +5% ROI for the day, and keep doing that every day. That would result in a steady, parabolic stream of income every day.
If I would trade successfully at +5% per day from here on out, and withdraw half that profit every day, I would reach $1,073,340.02 in both my trading account and bank account, totaling $2,146,479.85 in 352 trading days, which, if you figure some holidays in, would be 71-72 weeks = almost 17 months.
At that point, my daily withdrawal would be $26,833.50, which is about my current gross income for 4 months from my private self employed taxi and hauling business.
Again, the big question is, can I maintain such consistency and discipline???
It's not impossible, but it would be a real challenge.
You cannot fail if you never give up.
  • #853,288
  • Edited 11:09pm Feb 6, 2025 10:56pm | Edited 11:09pm
Checking pa , both legs up so far in similar pattern , just minimum correct and bounce ! Last leg up if c wave then bull by only breaks previous high 2549 and can very strong impulse up if doing so, while unable impulse up as such strong better top failure at 2249 ! Overall it is undecided , so to see inside ranges in smaller tf !
In smaller tf , breaks 2440 may need correct towards 2380 .
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Not understand?better not follow my analyses!doubt clearer first, risks ++
  • #853,289
  • Feb 6, 2025 10:58pm Feb 6, 2025 10:58pm
Quoting Fardeen1209
{quote} Thats not how money management works. The compounding formulae out there is for fixed income, meaning a fixed and consistent income stream, which trading is not. Also, the more money risked is not a linear function to more money gain. With a positive market expectation trading approach (a winning strategy), the probability that you will fall behind the geometric mean growth is very very high, but also chances are high that you will end your month way bigger than what you have started with. That left to say, instead of focusing onto compounding,...
You just wrote a whole bunch of illiterate jargon, dude. I have no idea what you said there.
I am what you could call an amateur math whiz and I am 100% sure that my math is 100% correct. This growth I projected from compounding is exactly correct. The only question is, though, is Oanda (my current broker) going to allow such parabolic growth? And at what point will they force me to trade at a lower leverage? Once my trade size reaches a $1 million, they will have to front $50 million to cover it. Once it gets to a certain size, they will reduce the leverage to 33:1, then 25:1, then 10:1. But at what trade size? It's in the paperwork. I can find it. But I want to hear from others who trade such large amounts.
You cannot fail if you never give up.
  • #853,290
  • Feb 6, 2025 11:31pm Feb 6, 2025 11:31pm
Quoting 7154Superman
{quote} You just wrote a whole bunch of illiterate jargon, dude. I have no idea what you said there. I am what you could call an amateur math whiz and I am 100% sure that my math is 100% correct. This growth I projected from compounding is exactly correct. The only question is, though, is Oanda (my current broker) going to allow such parabolic growth? And at what point will they force me to trade at a lower leverage? Once my trade size reaches a $1 million, they will have to front $50 million to cover it. Once it gets to a certain size, they...
Then why even after a year, you still DREAMING about reaching $1,000,000 trading capital?

Cause your meth maths aint mathing!
More time in the market, does not mean you trade better!
  • #853,291
  • Feb 6, 2025 11:33pm Feb 6, 2025 11:33pm
Quoting 7154Superman
{quote} You just wrote a whole bunch of illiterate jargon, dude. I have no idea what you said there. I am what you could call an amateur math whiz and I am 100% sure that my math is 100% correct. This growth I projected from compounding is exactly correct. The only question is, though, is Oanda (my current broker) going to allow such parabolic growth? And at what point will they force me to trade at a lower leverage? Once my trade size reaches a $1 million, they will have to front $50 million to cover it. Once it gets to a certain size, they...
Dude there is no problem with your math but you need to consistently make 5 percent to achieve such goal ... I do not think it's possible to make money without losing in trading
  • #853,292
  • Feb 6, 2025 11:36pm Feb 6, 2025 11:36pm
Quoting RoelsMajor
{quote} Stop loss hit, the next plan might switch polarity to sell. {image} {image}
It looks like there is a lot of support for GU today. There's also a convincing pattern for going long again. But it's Friday, and the direction is usually unclear.
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fooled by randomness in art
Meditation All Time Return: 8.9%
  • #853,293
  • Feb 6, 2025 11:39pm Feb 6, 2025 11:39pm
1.251 again today.
IMHO,
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  • #853,294
  • Feb 6, 2025 11:45pm Feb 6, 2025 11:45pm
Quoting 7154Superman
{quote} You just wrote a whole bunch of illiterate jargon, dude. I have no idea what you said there. I am what you could call an amateur math whiz and I am 100% sure that my math is 100% correct. This growth I projected from compounding is exactly correct. The only question is, though, is Oanda (my current broker) going to allow such parabolic growth? And at what point will they force me to trade at a lower leverage? Once my trade size reaches a $1 million, they will have to front $50 million to cover it. Once it gets to a certain size,...
Do you know that through out history, the IGNORANTs always refuse to acknowledge the right path to seek the right knowledge?

Deepseek
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Now guess who is the illiterate??
More time in the market, does not mean you trade better!
  • #853,295
  • Edited 11:59pm Feb 6, 2025 11:46pm | Edited 11:59pm
Quoting 7154Superman
{quote} Right, you're not doing your math right. Compounding is when you immediately re-invest the profit you made in your previous trade. Say, I take $100 and make +5% ROI. Now my account balance is $105. The next day I make another +5% of the $105, which results in $110.25. Next day, add +5% to the $110.25, which is $115.76, and so on. You will double your investment in 16 trading days, quadruple in less than 32 trading days, make 22 times your investment in 64 trading days, etc. Do your math and see for yourself. In every trade, I am only risking...
From strategy statistics, we can determine the profit or loss range from negative to positive. With a 57% win rate, it ranges from -7% to 7%. With a 67% win rate, it could be from -3% to 9%. That’s just math, sir, not compounding. It’s an old psychological approach (compounding hope math) with unclear accuracy, and maybe useful for lulling investors to sleep, especially in the stock market world.

Richard Dennis once achieved a 120% annual compounding return during his peak period. However, he later failed to sustain his success and eventually retired due to continuous losses.

Sir, just aim for a maximum profit of 6% per month, and if you can achieve that consistently from a $100K account, you would already be among the greatest currency traders in the world. On average, even veteran traders can only manage around 3%. Lel
fooled by randomness in art
Meditation All Time Return: 8.9%
  • #853,296
  • Feb 6, 2025 11:49pm Feb 6, 2025 11:49pm
Is it possible to have civilized debate and discussion WITHOUT ad hominem attacks and name calling?
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #853,297
  • Feb 7, 2025 12:09am Feb 7, 2025 12:09am
Quoting Moty
{image} {image} {image} {image}
Well Bro I am sure u have good ability to chart reading butt in my opinion it should go down Thats why I traded it sell side. Lets see. I'll be very thankful if u correct me if some where I am wrong ...
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  • #853,298
  • Feb 7, 2025 12:16am Feb 7, 2025 12:16am
Come on down mf
I am waiting for you
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yes yes yes
  • #853,299
  • Edited 12:57am Feb 7, 2025 12:47am | Edited 12:57am
Quoting Fardeen1209
GOLD, Even the fundamental seems cloudy. {image} Broken Chanel/RT + Flag Limit. Some risky scalping buy to 2920. Play with cautious, as i have a bad relationship with NFP. With trump tariffs uncertainty & retaliation, and Expecting US10Y yield Bo/Rt to hold under Broken Support to push yield more down, Meaning there is high chance for the market to read the upcoming NFP dovish for Dollar. As i said, with jolts down, recent GDP missed expected figure, GDP nowcast and many institutions expecting Us GDP to dip under 2% in the coming quarter, This will...
Day trading SETUP
The finale,
Some more long Scalping @ "bull flag"
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Remember it costs nothing to take partial when price move some $$$ in your favour. We dont know what will happen in the next tick.
Trade management in itself is something that work when we make it work like an S.O.P; that is for each and every trade.

NFP Either we will be PEPE the rich
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Or like TOm

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More time in the market, does not mean you trade better!
  • #853,300
  • Feb 7, 2025 1:00am Feb 7, 2025 1:00am
London or NY could see a H1 trend resumption. EUR is similar. M15 or M30 strong BW move may be a signal ...

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