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Why is GBPUSD called cable? 76 replies

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Cable Update (GBPUSD)

Quoting ganymedes
2-3%.
Absolute minimum capital (for "trading for a living"): $250,000.
Yes, 2-3% can be achieved. Absolute minimum = $250,000, I disagree with. Can be a lot lower if you know what you are doing.
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Quoting jgnorton
Yes, 2-3% can be achieved. Absolute minimum = $250,000, I disagree with. Can be a lot lower if you know what you are doing.
Yes, I agree AND strongly disagree

Well, $250,000*2,5% = $6,250.
Compare that to the average salary in your area.
With 2-3% a month, I would need at least $500,000 in capital to justify leaving my day job and taking care of my family on trading alone.

And, if you are able to consistently make higher returns than that? Then why risk your own capital? Work as fund manager instead and earn even more money with no risk to your own capital at all!

But: If you're not trading for a living: Another story! Now we can take on much higher risk! And potentially make huge profits. Just remember: If you want to trade for a living, a busted account is no good... You simply can't risk it! Therefore, only a modest return on capital is realistic.
Quoting jgnorton
Yes, 2-3% can be achieved. Absolute minimum = $250,000, I disagree with. Can be a lot lower if you know what you are doing.
250k...Your joking !!!! It's all about the Pips and money management.

If you know what your doing you don't need jack sh!t!!!

I average between 300-700 Pips a week. It's different every week.

Depends what you need a week to live on.
rat
Quoting alex1976
can anyone tell me what return (%)a good trader can realistically make per month?

Obviously this also depends on the market conditions etc
expect 5% .. anything more be happy. 5% return you are beating most hedge funds
Blogging daily now at www.volume.zone
Quoting Fibonatzi
Agree with you . I'm looking for a red daily candle on Monday .
nope not profit taking.. could be sellers hitting thre market. Look at the 4 hour

what did you get day before, it seems like a low volume test of support? vsa is all about the background. Now we have to wait to see if we get follow thru of todays buying


on a 4 hr there is intention to sell 1.6550 zone. We have to get a solid daily close above this level for a real breakout if this is to go higher. We may just range abit more

There is a major battle between buyers and sellers going on in this range.

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Blogging daily now at www.volume.zone
Quoting ganymedes
2-3%.
Absolute minimum capital (for "trading for a living"): $250,000.
yup we all have 250 k lying around. They also say you should not trade with more than you can afford to lose. Do not know about you , but i cannot afford to lose 250 k
Blogging daily now at www.volume.zone
Quoting ganymedes
Yes, I agree AND strongly disagree

Well, $250,000*2,5% = $6,250.
Compare that to the average salary in your area.
With 2-3% a month, I would need at least $500,000 in capital to justify leaving my day job and taking care of my family on trading alone.

And, if you are able to consistently make higher returns than that? Then why risk your own capital? Work as fund manager instead and earn even more money with no risk to your own capital at all!

But: If you're not trading for a living: Another story!...

put like that makes perfect sense.

If trading for a living and you want to make 60 k per year you have to 5 k per month , so say you make 5% min , that is 100 k account.

but hey come on lets get real ... don't all us traders double accounts once per week !!!

have a great weekend all
Blogging daily now at www.volume.zone
da can of worms have been opened again ..lol...

agree and disagree too.

In US you need 250 K and possibly higher account to Live on. If u live in India or other developing countries even a 20-30 K account will work.

I am up 4 % this month (trading 1-2 hours per day) - I am saving enough to start trading as a FT activity (looking at a account in 100Ks+ )


Quoting ganymedes
2-3%.
Absolute minimum capital (for "trading for a living"): $250,000.
Its all in the mind.
how could you lose it all, that is what MM is all about. Do you risk more than 1-2 % a trade?

Quoting malcolmb14
yup we all have 250 k lying around. They also say you should not trade with more than you can afford to lose. Do not know about you , but i cannot afford to lose 250 k
Its all in the mind.
define a good trader lol

well I average 2-3 % a month trading coupleof hours a day. I hope I dont suck
Quoting alex1976
can anyone tell me what return (%)a good trader can realistically make per month?

Obviously this also depends on the market conditions etc
Its all in the mind.
Quoting 5abi
define a good trader lol

well I average 2-3 % a month trading coupleof hours a day. I hope I dont suck
That's already a good return.
Thank You
Quoting 5abi
how could you lose it all, that is what MM is all about. Do you risk more than 1-2 % a trade?

1-2% per trade ...WEAK ... all in babay .. 40 % risk on account per trade..NO PAIN NO GAIN . lol

of course i am joking. I only risk 1-2 % per trade, but i have known some that have had account of 1mill , they got greedy and lost it all.
Blogging daily now at www.volume.zone
Quoting dvdsurplus

Those patterns are art... and they say... trading is an art... maybe it's only understandable by the few that actually make money... 5% of the elite participants make 90% of the money... is that a mistake? Most people chatting in these forums are on Demo... is that a mistake? How many can actually handle a large stake? Which can contribute to a wealthy, healthy steak?

Don't listen to me though... listen to your awareness.
I agree with you on this. I think this forum & especially this thread nowadays are filled with liars & pretenders. Many of these lot never lose lol. I consider myself able to handle a pretty large account by my standards, but under very strict sets of rules. Simple yet paramount rules like not under any condition placing a trade during news. Now, personally, if I am not already in a trade from earlier on, I would look to avoid trading at this time completely. Simple reasoning really, to avoid whipsaws.
This week alone I've seen many people in this thread placing orders during news, trying to guess & predict before the actual data is even released! Now this had me baffled. If you're trading with serious amount of money then chances are you wouldn't gamble it over a few minutes if not an hour after the release. Unless of course, you trade with peanuts or demo account. Which then off course explains the jokes and giggles while on a "drawdown". And it seems the new traders here love taking advises from these jokers. One blind man leading another, good luck with that.
Anyway, to the few genuine posters (yes genuine, you can tell by the substance they put out in their posts), I wish you good luck in trying to make a difference. Not bothered anymore.

Good luck guys
Thank You
Quoting malcolmb14
Those are murrey math lines.

4/8 is pivot
8/8 is a place to reverse , if it goes above this then it should reverse off +1/8 ,

ranging is 3/8 to 5/8 lines

each 1/8th is called an octave

Murray mathlines are based on gann squares. With these on your chart you do not really need to plot fibs

note on the 4 hour the 8/8 is resistance and the 2/8 support. Prices works between these lines . It is really like a thing of magic. i do not plot fibs anymore.

Set the P to 64 (this is 64 period for the gann square) set mm period to...
..As far as i experianced for almost 4 year used this MM, lower than H4 TF is not reliable to use it....I just only used this in H4 & D1 TF for good measurement of OB and OS where I can smell and see the turning/reverse point...I did mentioned this in Aus with Arezab also pointing the same things...

H1.mmm..some time its work some time is not..but lower than that for scalp for me a bit risky.....but if somebody can explore more than that, will be great to shared.....

Make me remember for that guys...
Quoting wormboy
I agree with you on this. I think this forum & especially this thread nowadays are filled with liars & pretenders. Many of these lot never lose lol. I consider myself able to handle a pretty large account by my standards, but under very strict sets of rules. Simple yet paramount rules like not under any condition placing a trade during news. Now, personally, if I am not already in a trade from earlier on, I would look to avoid trading at this time completely. Simple reasoning really, to avoid whipsaws.
This week alone I've seen many people in this...
As what we have discuss in the earlier asian session..manipulator, spekulator, gladiator all in this room....and we can identified a few of them...buy dip...pick from the top..all this are BS with current ranging market...why? where to take dip and where to pick top...base on what...

For me if people make thousand of pips in the 2 last week..I was ...like hell..Why? All that is Bull shit!

While all stock market and futures still in decision mode....Market ranging is still in play around until NFP and Q2 profit revenue announcement...Possibility market back to normal ~ 2nd week of July is there..perhaps...so all of this are base on the current world situition and anything can happen for the time being right? That is what we can see cross currently a bit stuck and not much make a movement...then am back to my old pair as mentioned before..and am taking my rest atm after it clear what should i do...

Ranging market is risky for those who do not know how to make their entry point and out when it should be out. That is why I love your principal not to make it at this time being....and you r one of the true trader..Geppy too i believe....

GU by right should not behave as what she did in this couple of week so on GY....

Billionare and some millionare they wont care much about this forum..they will do their own stuff..accept a few in Aus where they are very kind and helpfull person...but they just visit and not making any post unless somebody ask for. I still remember one of them Greekeagle..totally banned after some XxX harsh word while she make kindness call of 1.55-1.62-1.65 for GY on ~ 1.4X current price..but most of people in Aus attacking him like hell...at the end they realise what he talking about....

P/S : For those newbiew, do not trade as what people say...identified who should you respect on their call base on the accuracy of analysis and not just base on how much vouch they have....i think this guys is one of that who we should looking for...me..am just a poor guys...so do not believe me...am still learn how to walk...Good luck
Quoting grashid
As what we have discuss in the earlier asian session..manipulator, spekulator, gladiator all in this room....and we can identified a few of them...buy dip...pick from the top..all this are BS with current ranging market...why? where to take dip and where to pick top...base on what...

For me if people make thousand of pips in the 2 last week..I was ...like hell..Why? All that is Bull shit!

While all stock market and futures still in decision mode....Market ranging is still in play around until NFP and Q2 profit revenue announcement...Possibility...
Sound advice and food for thought for newbie like me. Thanks.
Great Bodies are Engineered not Born
Quoting RichLadyFX
Sound advice and food for thought for newbie like me. Thanks.
Any body predict movement for next monday ? my indi 15,30,h1 : overbought. and H4 > start overbought... dow jones also in red ....so will she go down down to 1,6400 - 1,6350 then go up ? and if 6350 broken...dive to 6200-6250 ?
When i first began reading this thread I was amazed at how many great traders were making huge pips. Then something occurred to me that i read sometime ago. 95% of FX traders loose money, 5% are winners. The average Forex Trader will loose about $15,000 before giving it away.

So I thought 5% winners must be on this thread. Not possible. Everyone here is well aware who the good traders are, and from my limited time here i have identified maybe a dozen and we all know who they are so i won't mention names.

A little bit about myself>

I live in Laos, near Thailand, Vietnam, Cambodia. My income ia solely derived from trading, mainly ASX equities and Forex which has been difficult to earn an income from. I have been studying FX for about 2yrs and still can not get it right. I have a small acc about 5k USD and try to make $50.00 profit per day, I know its not big but this is what i need to live here. I work for a charity, so no income other than FX, as I am now long term ASX holding , due to a huge drawdown over the past 2yrs. The last month I have had the worst in my trading career, about a 35% drop in equity. Why?? i don't know. I thought maybe my data was coming in to slow as IT services here are not great, but getting better. So now do i change to a longer timframe trading plan? I have asked myself every question possible to the point of dispair.

Trading is a reflection of myself, and myself a reflection of my trading, So if I was to post incorrect trades and pump myself up to something i am not, this would reflect on myself and my trading. So my point is. To the traders who are running on ego, posting incorrect profits, no losses, you are only DECEIVING YOURSELF's and giving a false sense to other traders (newbies). This is not good and only a short term ego boost.

I am not targeting anyone here and am only sharing with you what i see and what i have learnt in my life. I like this thread very much and am grateful for the experienced trades to share their knowledge. So, in respect to the experienced traders, the people who are writing bulshit trades, SHOW some RESPECT as they have put years into there learning.

No dought I am going to get a hammering from writing this, and that does not matter as long as you speak truth, and that will be reflected in your trading.

Good luck to next weeks trades.
Quoting iqyusan
Any body predict movement for next monday ? my indi 15,30,h1 : overbought. and H4 > start overbought... dow jones also in red ....so will she go down down to 1,6400 - 1,6350 then go up ? and if 6350 broken...dive to 6200-6250 ?
Myfriend, No one can predict what can happen next monday or tuesday. Just wait for monday, see what happens, Wait on london open, check what your indicators and system says and go with the flow.

This is the forex market and theres equal chance of price going up vs price going down.

If your on h4 thru m15, that makes you an intraday trader, so check what happens on monday and make your 20-50pips (typical intraday targets). Have a great weekend yo!
prepare for worst & expect the best
Quoting tony_dtrader
Myfriend, No one can predict what can happen next monday or tuesday. Just wait for monday, see what happens, Wait on london open, check what your indicators and system says and go with the flow.

This is the forex market and theres equal chance of price going up vs price going down.

If your on h4 thru m15, that makes you an intraday trader, so check what happens on monday and make your 20-50pips (typical intraday targets). Have a great weekend yo!
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