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Cable Update (GBPUSD)

  • #853,321
  • Edited 1:26am Feb 7, 2025 12:37am | Edited 1:26am
Quoting 7154Superman
{quote} I don't need to be versed in whatever scientific jargon that is to understand how compounding works. You're just not understanding how I'm looking at this system of compounding. You're thinking I will only trade once per day and try to win 5% every time. I will inevitably lose some trades. In that case, my growth would never compound at the rate I'm talking about. It would be much slower. The key to the 5% daily compounding is for me to do multiple winning trades every day to make up for the losing trades so I would be able to net a 5% ROI...
I got stopped out. My account balance is now $190.67. (-4.751%)
Now I have to win 2 +5% trades to finish this cycle of +5% ROI from $200.18.
You cannot fail if you never give up.
  • #853,322
  • Feb 7, 2025 12:46am Feb 7, 2025 12:46am
Yes yes yes
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yes yes yes
  • #853,323
  • Feb 7, 2025 12:47am Feb 7, 2025 12:47am
... 1st upside b/o of asian hi remains true for now. But, 1st upside b/o of last wk's 2524 hi to this wk's 2550 current wkly hi was false, and price is still below both. That said there have been 2 x failed downside b/o's of last wk's 2387 lo so far this week.

4hr below
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Trader with an Edge.
  • #853,324
  • Feb 7, 2025 12:52am Feb 7, 2025 12:52am
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SLs got activated....FLAT now. Looks bullish fttb....

  • #853,325
  • Feb 7, 2025 12:52am Feb 7, 2025 12:52am
Breaks and hold previous high and hence target go up , may 2498
As too crazy to strong in nature and corrective extreme precaution take always following it ! To only tight sl ,work or not!
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Not understand?better not follow my analyses!doubt clearer first, risks ++
  • #853,326
  • Feb 7, 2025 1:05am Feb 7, 2025 1:05am
Buy or Sell?

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  • #853,327
  • Feb 7, 2025 1:07am Feb 7, 2025 1:07am
Quoting RoelsMajor
{quote} LONG GU SL to BE+1 {image}
Take some profit. Buy or Sell again later.

Cheers
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fooled by randomness in art
Meditation All Time Return: 8.9%
  • #853,328
  • Feb 7, 2025 1:12am Feb 7, 2025 1:12am
NFP today will be fun. Consensus looking worse than last month which only gives a beat expectation feel to it lol. GJ will be dragged along somewhere in this
Insane in the Brain..
  • #853,329
  • Edited 1:30am Feb 7, 2025 1:13am | Edited 1:30am
Quoting danny576
{quote} im so confused why anyone would have a system like this, for example my system is 1 to 5 rr my win rate is about 30% over 100 trades, but even tho its low I could loose 5 trades and then win 1 and be fine and yes loosing periods are common for everyone in trading, however with your set up if you loose 5 trades in a row that's a quarter of your account gone and idk why your obsessing over having one million, why not focus on having 1000 first then 10000 then 100000 seen as tho rn you have 200
I use the million dollar goal for motivation. If I can develop the right system with a small amount, then it will keep working no matter how big the account gets. The more money you trade, the more risky it will feel, unless you have a rock solid, foolproof system that works to help you grow fast. It will take time to grow at first, like 4 months to go from $200 to $1,000, but after that, the growth will start feeling scary. Another 4 months = $1,000 to $10,000. Another 4 months, $10,000 to $100k. And finally the last 4 months, from $100k to $1 million. Multiply those numbers by 2. Because I will be withdrawing half the profit in the meantime so those numbers will also be in my bank account at the same time. That's why I'm obsessing over $1 million with my system now so it won't feel scary when it starts getting big.
And the reason why I don't like those big 1:5 or 1:10 RRR trades is because of how long it takes and how frustrating it can be to get a good trade completed.
You will likely get 3-5 winning cycles of 1:1 trades at the same time you get the 1:5 trade accomplished with greater gains because those 10 pip trades can go fast and price doesn't need to go as far to reach TP. They work better in a tighter range so you don't have to wait for a breakout or trending action.
With the 1:5 trade, you will be likely to get stopped out a few times in trying to get set up. At 50:1 leverage, in the end, you will gain only like 5-15% ROI for all your trouble and waiting. When a 1:1 system can move much faster and compound in every trade. And finish 3 or more successful +5% cycles by the time you finish the 1:5 trade. And each successful trade gets compounded, so you ultimately gain more because of it consisting of multiple trades instead of just one.
It depends on the temperament of the trader. At this point, I like smaller in and out trades. I don't like holding them too long through the ups and downs. It stresses me out.
And if I were so incompetent to actually lose 5 trades in a row at -4.761% each, I would not lose 25% of my account. I would lose only 21.64% of my account according to my system. But then if I would win 6 times at 5% gain each, I would make all that back plus 5% more to finish that cycle.
You cannot fail if you never give up.
  • #853,330
  • Feb 7, 2025 1:18am Feb 7, 2025 1:18am
...have the £ bulls got their eye on 'the prize,?' ie a 2nd upside b/o of last wk's hi, and even the current wkly hi? May depend on U.s Nfp etc reaction later?

1hr below
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Trader with an Edge.
  • #853,331
  • Feb 7, 2025 1:22am Feb 7, 2025 1:22am
Quoting 7154Superman
{quote} I use the million dollar goal for motivation..
There is an old saying...

"If you want a million-dollar account, then begin with two million"
  • #853,332
  • Feb 7, 2025 1:26am Feb 7, 2025 1:26am
Quoting 7154Superman
{quote} I got stopped out. My account balance is now $190.67. (-4.751%) Now I have to win 2 +5% trades to finish this cycle of +5% ROI from $200.18.
I entered another short on EUR/USD at 1.03964, which is about 5 pips higher than where I got stopped out. It looks like price is hitting resistance and could begin dropping again.
TP = 1.03860 (+10.4 pips)
SL = 1.04063 (-9.9 pips)
If my TP gets hit, then my account balance will be back to $200.18.
If my stop loss gets hit, then it will be $181.58.
I always figure my TP at +5% and stop loss at -4.761%. It all evens out then. You'll see.
You cannot fail if you never give up.
  • #853,333
  • Feb 7, 2025 1:31am Feb 7, 2025 1:31am
Quoting genadi
Buy or Sell? {image}
wait! Wait for a rejection or a violation of that imbalance...in order to achieve a tight sl and good rr but up to me i'd me more interested in a short.
Consistency isn't Glamorous But That's How Legends are Made
  • #853,334
  • Feb 7, 2025 1:40am Feb 7, 2025 1:40am
Goldi joined the party
Come on mister goldi
Hit 3000 today
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yes yes yes
  • #853,335
  • Feb 7, 2025 1:43am Feb 7, 2025 1:43am
...I doubt there are any/sufficient buy stops above, or sell limits in/above this prev 1hr/4hr sw lo zone = pot sbr currently being challenged, so market is waiting for fresh market orders to move on after this stalling, one way or the other. A p/back may gain upside liquidity somewhere lower?

1hr below
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Trader with an Edge.
  • #853,336
  • Feb 7, 2025 1:59am Feb 7, 2025 1:59am
Quoting Moty
Yes yes yes {image} {image} {image}
GJ doesn’t work well with supports and resistance areas we may see a bigger spike up. Or naturally a big drop too. It is Friday after all.
Insane in the Brain..
  • #853,337
  • Feb 7, 2025 2:00am Feb 7, 2025 2:00am
Quoting Abeylyn
{quote} Holding same sentiment with you trading inside 15 min. Already short @ 1.2440... TP 1.2320/30
The market and charts are rich with information that can help traders and investors make informed decisions. But we have to improve our skills to point out them . Dont worry , when we do something ,then we learn something...
  • #853,338
  • Feb 7, 2025 2:11am Feb 7, 2025 2:11am
Quoting Pat Chiko
{quote} CABLE One for the road. Short scalp {image}
CABLE

One for the road becomes TWO for the road.
SHORT scalping continue.
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I come from the future.
Karen X Mas Bonus 2025 All Time Profit: $15,104
  • #853,339
  • Feb 7, 2025 2:19am Feb 7, 2025 2:19am
Quoting Headland
...I doubt there are any/sufficient buy stops above, or sell limits in/above this prev 1hr/4hr sw lo zone = pot sbr currently being challenged, so market is waiting for fresh market orders to move on after this stalling, one way or the other. A p/back may gain upside liquidity somewhere lower? 1hr below {image}
So, pulled back and hit some fresh buyside liquidity @ a pot rbs zone most likely in the form of retail buy limits and market buy orders. Unlike big money/institutional orders - retail orders don't need working in re other side liquidity to fill, so oftentimes the move can't be sustained unless more orders come in, retail or otherwise.

1hr below
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Trader with an Edge.
  • #853,340
  • Feb 7, 2025 2:22am Feb 7, 2025 2:22am
Quoting 7154Superman
{quote} I entered another short on EUR/USD at 1.03964, which is about 5 pips higher than where I got stopped out. It looks like price is hitting resistance and could begin dropping again. TP = 1.03860 (+10.4 pips) SL = 1.04063 (-9.9 pips) If my TP gets hit, then my account balance will be back to $200.18. If my stop loss gets hit, then it will be $181.58. I always figure my TP at +5% and stop loss at -4.761%. It all evens out then. You'll see.
TP got hit. Account balance is back to $200.20.
It's bedtime now. Then I gotta drive my truck through NFP. See you tomorrow after. I may still be able to get another trade in.
You cannot fail if you never give up.
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