Cable Update (GBPUSD)

I remember when I first joined FF in 2005 the Vegas system was all the rage. I remember trading for about a year before I joined and how green I was. I spent a good 6 months testing that one and then spending another year trading my own system I phrased the Bat fink system, daily range strategy, then Candles and the list goes on. Looking back I can't believe how I traded, I really think back then no one on the FF forum new what the hell they were doing, even most of the traders that were put up as Gurus then (not naming any names). What those years did give me was many visual back test counts, countless samples sizes of probabilities and an understanding of how the market works.

Problem with this industry is that green traders and also traders with say 2 -3 years experience will get desperate when the dream is not working out for them and will jump on anyone who seems to be making profits. When you spend years calculating probabilities in numerous scenarios you can instantly tell when something won't work, and see traders make the same mistakes over and over but convinced it will work and what may seem to work most of the time probably won't over the long term. The traders eventually will end up blowing them selves up through all the cliché reasons but mainly lack of emotional discipline allowing snowballing trades that they will not get themselves out of.

I understand where Bones is coming from but what I've seen HDA has added some good content for some traders here and should be given the benefit of the doubt and the courtesy of constructive comments. All the post I have read of his, although some long winded like this one have be good constructive posts.

I also remember seeing the same comments about Jacko, James16 Mr price action guru, Dark-star, self confessed inventor of order flow trading and list goes on. Anyway point is scamers or not anyone who gets a big following because maybe they have the patience to teach people on this forum or know more than most will at one point be accused of looking to commercialize.

Hi S you think give hda benefit of doubt when he clearly posted he exit ?ages ago ,then claims to hold after next rally
Jacko also gave some good ideas for sure ,but is a confirmed scam artist ,no doubt,100s of thousands $
and he used same strategy, he looked good in an up trend
know the power of kudos ,the other peoples money that can bring to gamble
thats what were talking about ,

Nothing to add...

even after proof you support ,

he didn't want to go proof way cause he don't even have trades let alone size

you and ff owe me for flushing out

I have been trading for 3 years, the one who introduce me on this is a friend, Doctor in micro Electronics. He told me that i must learn by my self and not just copy his system, he said that his experience is expensive, and I know at the beginning, the account was blown several time. I never trade demo all is real account. After 1 years my winning rate increasing. Winning pips much higher than loss. BUT, the problem is the dollar losses is still higher than profit. It's mean that I can't control my emotion when account growing much higher.
A month ago i visited my friend and found that he blown his account and trade with $2 account.

I asked my self is there any real account out there successfully growing account from $500 to $500000 ? or that just a myth?
With good technical skill you can make high rate of winning even more than 70%, ...but you still possible blown your account.
It is mean we will have space for mistake. No one can't always be right. What ever your method, I respect on that because the biggest factor to determine success or not is not just a method or Technic. You may survive even with low rate of winning by proper money management. I believe that many good trader with excellent knowledge of technical here, so let respect each other. No one know how real performance of the their real account.

are they really open position 100% according to what they posted here? I am not sure because some time I posted analysis but at the end i made opposite position, some time win some time loss
So it is not good to judge this method is better than the other because at the end it is much depend on your management and psychology.

Regards

I have been trading for 3 years, the one who introduce me on this is a friend, Doctor in micro Electronics. He told me that i must learn by my self and not just copy his system, he said that his experience is expensive, and I know at the beginning, the account was blown several time. I never trade demo all is real account. After 1 years my winning rate increasing. Winning pips much higher than loss. BUT, the problem is the dollar losses is still higher than profit. It's mean that I can't control my emotion when account growing much higher.
A month ago i visited my friend and found that he blown his account and trade with $2 account.

I asked my self is there any real account out there successfully growing their account from $500 to $500000 ? or that just a myth?
With good technical skill you can make high rate of winning even more than 70%, ...but you still possible blown your account.
It is mean we will have space for mistake. No one can't always be right. What ever your method, I respect on that because the biggest factor to determine success or not, it is not just a method or Technic. You may survive even with low rate of winning by proper money management. I believe that many good trader with excellent knowledge of technical here, so let respect each other. No one know how real performance of their real account.

are they really open position 100% according to what they posted here? I am not sure because some time I posted analysis but at the end i made opposite position, some time win some time loss
So it is not good to judge this method is better than the other because at the end it is much depend on your management and psychology.

Regards

i won't ignore you ,i love the entertainment

Chris?????????


Seriously?

I know you are a pretty solid guy, but that doesn't mean that you should walk through here with the wool pulled over your eyes.

Do a little research on Bruce Margolese...AKA HDA.

And then go back and compare it to Bones and his history at the Factory.

HDA appeared shortly after I had his previous nick deemed commercial, and I bet he already has 3 more nicks registered, building up a time history before he gets fully exposed under HDA and has to start again.

Not saying to throw blind faith into Bones and everything he puts in front of you, but he's got this one.

This is my view on weekly,

We found some fail bearish set up many times, seems like it will going down but still climbing up, and RSI remain high since august last year (red mark).
Historically current RSI is high compared the value since 2011.
Weekly tenkan sen (red line) acted as good support for cable until now, it was never touch KS (blue line as strong support) since cable flying above daily cloud,
as long as ts above ks, I consider the trend is bullish.

I will consider serious for bearish if red line crossed blue..... But i do not care because for daily trader, movement up and down wherever is a chance for me.

I prefer lower H1/H4 TF.

Regards

Tony / Squawk

You got me out of bed on this one. I found it funny when my attention was drawn to FF (in the beginning) and I really didn't take it very seriously, I registered and made snarky comments from time to time then I realised that there were in fact some real traders here and they were trying to help some people. It was also very clear that this is a retail broker project and I fully expect to get banned or suspended after this post but I don't really care, cause well I'll still be trading and I've got other things to do. I'll post here or other places but the real traders are in different places and yes though from time to time prop charts, signals and systems are being posted here most of the subscribers and guests cant tell the difference and no one really knows who is who.

But perhaps someone should hint at the truth of what's happening here...

After all this is a forum, international in nature, where a group of strangers discuss their thoughts on trading and risk money in the hopes they will join the ranks of the wealthy or be able to leave their days jobs and live easily.

Maybe what they don't realise is that by its nature the study of financial instruments, analysis and execution of trades is very much a full time job and that its 18 hour a day at least with hours of reading monitoring assessment, calculations judgement calls and intense discipline. And no we aren't all rich flying on private jets and holidaying on Islands (some are but they are the minority). As with any job there are traders who are good and traders who are average.

Most dangerous of all is the retail broker trap

The buckets shops have engineered MT4 so that some stuff happens:
Execution to a retail trader is often re-quoted, generally to ensure they get the worst possible position (the broker tells them their computer is too slow or whatever excuse works, underlying liquidity is low, high volumes, whatever) when I execute at market, I get my price instantly

Spreads are fixed or moved dynamically.... That way your broker makes more commission
Traders are offered a bonus per deposit -> the broker knows they'll get it back (notice that the on-line gaming casino's do that too )
Brokerages have economists who have very interesting market views, often contrarian views but encouraging views, encouraging you to trade.

If you're not trading direct on market that stuff really happens, the house is rigged.

Your brokerage also has a key accounts manager, this person is going to do the following things
- Teach you to trade I mean teach you to toss your money away (initially they will give you a few valid signals to suck you in)
- Encourage you to make more deposits.... It takes money to make money
- Try and get you to over-trade, just execute small positions day in and day out, you'll make money (he means I'll earn more commission from you)
- Put you onto good trader programs offering bonuses for the amount of trades you execute
- Discourage you from using a stop - loss (if you put an order to discontinue a trade in the market the closer one will get hit, right? So don't do it, just keep an eye on it. They know that your head won't be able to accept the loss and so you'll let it run and run... Then they'll call you and say "traders don't close out the position they add more money (Oh yes and I'll give you a deposit bonus, you can take it out afterwards .... try)
- My favourite one, price is in a range you can open trades in both directions, you'll make money... Right, how does that work?

Brokers make money from traders trading

Traders make money by executing well planned, well timed single executions designed to extract value over time using the smallest risk to reward based on fair value. The best traders I know execute fewer than 4 trades a month and simply wait for the so called 80/20 high prob setups, they mostly make money by not trading....

The next trap is the people who will trade for you or teach you to trade.... They run trading services, send sms's, run training programs and do what they need to to earn a living out of your pocket. That's not trading its training. Maybe legit but they're not trading and they make money from you...

Lets not even get into the binary market -> that's just gambling bet 100$ make 70$ if you win and your risk is set at 100$ you can't lose your whole account so its not as risky as trading in the open market... What rubbish binary options are rigged to take all your risk and only return a smaller profit when you win, do the numbers you will lose in the long run, you have to, its the opposite of trading. Doh!

I think I've said enough

Traders can tell who are traders, even if we don't agree with each other....

believe what you will, this is a shark tank

Magix my friend. Why is it everyone thinks I'm flocking to any trader here. I simply recognize what he offered, can see his point of view and yes, even learned a thing or two. I don't know HDA from adam. But he taught me something about fibs, which I've always used and believe in, that I didn't know before. He posted market movements before they occurred and they happened. These are facts, not conjecture. If he's a scammer or not, it doesn't change those facts.

Tony is on my iggy list because of his attacks on, and ridicule of me personally and quite honestly, I have no time or desire to deal with arrogant self centered children who only criticize others and offer nothing constructive. Honestly, even though my entire time here I've praised Tony's trading and considered him a friend, I now wonder if not for his mentor confirming or denying his thoughts, if he could trade at all on his own. I suspect so but none of this has anything to do with trading anyway. It's about basic human decency and respect.

You know me well enough to realize I feel members here should be shown some respect regardless of whether we agree with their view, trading approach or anything else. Tony crossed that respect line with me more than once now. You also know me well enough to know that, although I'm still learning, I follow no one else's calls or methods. Right or wrong (and I'm both) I trade my charts pure and simple. Yeah, maybe I'm not as good as Tony as a trader and I've said so many times without waiver. But I'm FAR better as a human being who shows others respect.

Jezzz guys, as important as it is to me to be good at it, trading isn't EVERYTHING in life ... you know?

Thanks M I didn't know that
guess Chris will apologies in good time ,

I found similar pattern on weekly candle......

... ...

agree with you Jimmy....

like I said Chris you taken all the wrong way ,forums are difficult ,but at least I'm honest ,you think it don't matter what hda s intentions are but he know how to use fibs then so be it ,



"Tony is on my iggy list because of his

attacks on, and ridicule of me personally and quite honestly,"

not true

could be yea

Great, confront him with these facts when he comes back, until then I keep my opinion on him, someone who shared some good things with us. I'm only interested by the knowledge shared. I don't give a fuck to any ones entry and exit point, not even to my very own entry and exit, they are useless to progress, only the criteria used for entering a trade are useful.

If you read back my exchange with HDA here, you'll see that I asked him what if price goes near to 1.7 without touching it and fall ? He answered me that he will adjust his outlook as price action would dictate.
My opinion is that it's stupid to not have exited when price was rejected near 1.7 It doesn't make of him a scammer.

A scammer has to win something, what does he gain ? Has he robed someone ?