Cable Update (GBPUSD)

Quoting Big Wave Rider

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The goal is to not be right 100% or even 60%.
You can be right 85% of the time and still loose money on a yearly basis.
I'm right only 50% of the time and I make money on a yearly basis. why?
Because entries are meaningless, might as well flip a coin.
The key to success is not an entry signal, its how you manage risk and exit your trade. Cut your losses short and let your winners ride then multiply your winners. Its that easy, and you don't need to be right more that 30% of the time.

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Quoting manize

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100 % agree, sofar my problem is really in when should be exit in a minimum loss or in a maximum profit ! Thank for share !

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Quoting manize

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100 % agree, sofar my problem is really in when should be exit in a minimum loss or in a maximum profit ! Thank for share !

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Quoting wormboy

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Just make sure your mm matches your trading technique brother. That is part of that "edge" everyone is after.

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Quoting Big Wave Rider

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My stop loss is never more that 1% of my capital, most of the time its 0.5%
That will help to control your position size. If 1% of your capital is 10 pips away then your position size is too large and your on your way to the poor house. I like to have my 1% stop to be around 100 pips. But I am not a scalper I am a long term trend trader. 10 losses in a row is no problem for me, cause all I need is one good trade to pay for those losses and a few others.
Of course Once I catch a trend I add on to my winners and then the next thing I know I am a few...

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Quoting Big Wave Rider

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You have enough triggers on that chart to trade like this

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Quoting manize

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Ohhh yeah , it is also my problem, I still reluctant using less than 10% of balance account for each entry. It makes me prefer like do scalp, I mean in and out quickly !

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Quoting feenafx

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still believe g/u will reach 1.3702...short from 1.3902 ...

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Quoting wormboy

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why?

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Quoting wormboy

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Well I suppose you have your way on managing your risk but going for anything more than 10% per trade is asking for trouble if you ask me. All you need is prolly 3-4 lof those open position being stopped out & half of your account end up in smoke. Unless you trade without stops like the pros, I'm not quite sure your account will survive the test in the long run.

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Quoting feenafx

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still believe g/u will reach 1.3702...short from 1.3902 ...

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Quoting leu02cz

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do you mean should short from a bit higher?

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Quoting Inzider

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Any fibs will play major role its no doubt!

I personnaly wait for a low around 1.38 again... i doubt bears will leave it fly over 1.39 easily. Its pure ranging and we are now at london close...

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Quoting sofia101

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Good afternoon everybody Nothing change since I last posted ,just like I expected we are in a flat,and I am still bearish bias , but this flat could open up in any direction.For now I will be scalping

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