The cable is probably going to gap up on Sunday, dance a little range mode style, like this guy here (YouTube's most viewed video ever at over 2.2 billion views ) and then go down even more. video

Cable Update (GBPUSD)

Yes, but making money with less stress and less "work" is even better. That's why I strongly believe in keeping things very, very, very simple. Thousands of backtests have shown that simple trading systems are more robust and more profitable than ...

Cable Update (GBPUSD)

Trading is always a probability game and even the best chart patterns DO fail. The trick is not to lose too much when they fail, and let the profits run when they work. On the 15-min chart an easy 50 pip was up for grabs, see chart below (No I did ...

Cable Update (GBPUSD)

GBP/USD came 12 pips near that level and then dropped almost 100 pips. Oh well, we will nail that sucker next time...

Cable Update (GBPUSD)

Let's say you decide to buy GBP/USD at $1.2000 with a 30 pip stop and a 90 pip take profit, a "nice" 3 to 1 risk reward for most traders. What they fail to realize is that their stop will be hit 75% of the time first (try it and see for yourself). ...

Most traders fail because of no discipline!

In that case nothing wrong with that. Thanks for the info.

Cable Update (GBPUSD)

I don't want anything, I just want to be aware of any possible scenario and counter-scenario, because I know that having any preconceived idea about the market is wrong and unrealistic. No, it only indicates a POSSIBLE up trend, that's different You ...

Cable Update (GBPUSD)

Not sure why you are using the daily time frame to time an entry on the Non Farm Payroll. Nice descending wedges on the US Dollar Index however, a serious breakout is about to happen...

Cable Update (GBPUSD)

Well, the cable made a 200 pip down move in less than 24hours, so a small retrace is expected, at least at the 23.8% Fib level (around 2550ish). But again, the market will do what it wants, when it wants, how it wants, and for as long as it wants ...

Cable Update (GBPUSD)

Nope. Trading is about making money in the long run, while still keeping the maximum drawdown at a reasonable level. I will, next week. By the way, stop being so aggressive, it's not good for your blood pressure, and your health in general. Relax, ...

Most traders fail because of no discipline!

That's the typical calm before the storm, "dead" markets often make explosive moves when the original trend resumes...

Cable Update (GBPUSD)

Again and for the last time, the market is under no obligation to respect any trendline, no matter how "perfect" it is. The price can either respect that trendline (for X period of time) or break through it, end of story and case closed (like my ...

Cable Update (GBPUSD)

An old Tibetan proverb says : "If I am only 1 day older than you, then I know one extra trick that you don't.[/quote] Sorry, I don't eat ice creams full of chemicals, I make them at home, with natural organic ingredients, and I suggest you do the ...

Cable Update (GBPUSD)

Let's say your cable TV service has 28 channels. If I give you the remote control and ask you to find me a movie (even if it has already started), how long do you think it would take you? Less than half a minute, yes? Well that's the same thing with ...

Cable Update (GBPUSD)

It always amaze me when I see some traders constantly switching from the monthly charts to the weekly charts to the daily charts to the 4h charts and to the 1 charts. No wonder why trading is so confusing for them! It has been proven that our brain ...

Cable Update (GBPUSD)

Trading is not about risk reward, it is about finding a system that gives you a real mathematical edge and then trading that system with 100% discipline. Sure, we would all love to risk only 500 dollars to earn $2,000 on each trade, for example (who ...

Most traders fail because of no discipline!

Well, draw the same trendline and see for yourself.

Cable Update (GBPUSD)

No, but short-term short sellers (or potential buyers still looking for that magical retrace level) should be aware that an important support line is waiting for them at 1.2420 (see horizontal line). Again these support/resistance lines are not ...

Cable Update (GBPUSD)

Some traders still have a lot to learn, obviously. A lot of traders still strongly believe that risking 1 unit to earn 2 will somehow make them rich in the long run, because they are only risking "a little" to earn much more. Oh please!

Most traders fail because of no discipline!

Oh no, I never joke about money, trust me on this one. A 67% winning rate is a break-even rate in that situation (in fact it's slightly profitable), so anything above that rate will be profitable for you. A 33% rate is a break even, so anything more ...

Most traders fail because of no discipline!