All the financial instruments that you traded today are all correlated more than 60% or 70%. It is like you took the same trade multiple times. That is very risky.

Cable Update (GBPUSD)

I agree, but in forex, retail traders make up less than 7% of all the candles.

Cable Update (GBPUSD)

Non-financial institutions, like retail traders, make up less than 7% of forex market transactions. I doubt that tiny retail traders really matter in the great ocean of forex. The whole sum of retail traders cannot even give fuel to the fire if they ...

Cable Update (GBPUSD)

Patterns work, but you need more than patterns for them to work.

Cable Update (GBPUSD)

It does not matter if it is a long time ago. When you trade free-floating currencies, you will get stopped out eventually. If you trade a currency that is not a free-floating currency, like USDHKD, then you have a better chance of a 10,000 pip stop ...

Cable Update (GBPUSD)

Exactly! Why should money managers hold dollars is rates are going to go down? If one reads this article, one would find out some names of funds offloading the USD; big funds. Here is the article: Investors dump dollar in bet that US rates have ...

Cable Update (GBPUSD)

Here is a chart of GBPUSD in the 1980s. It went down over 10,000 pips. Straight down. IF you kept buying it, then you would lose.

Cable Update (GBPUSD)

Not if you trade USD/HKD or other forex markets that do not trend. However, pull up a weekly chart of CHF/JPY. You will be stopped out.

Cable Update (GBPUSD)

Interesting description.

Cable Update (GBPUSD)

By the same logic, you can say the same thing for any timeframe: a 1 minute chart's timeframe only tells you what, in aggregate, what a lower timeframe did during that period. 1 minute candles are, themselves, lagging indicators. In essence, you ...

Cable Update (GBPUSD)

Because grid trading is a losing strategy. In three days, James Cordie lost 150 million of investors money (all the money) because he had no stop loss, but kept shorting oil. Then, oil did something more than what the anyone imagined: It kept going ...

Cable Update (GBPUSD)

Nope. The money changers are selling USD.

Cable Update (GBPUSD)

If you keep shorting GBPUSD for one year, with a 10,000 pip stop loss, eventually, you will be right.

Cable Update (GBPUSD)

The weekly currency strength meter says it all: It is not time to short GBPUSD. USD is so weak!

Cable Update (GBPUSD)

I guess it was not a bull trap, but a bear trap.

Cable Update (GBPUSD)

Next GBP/USD wave up!

Cable Update (GBPUSD)

How do you know that is not just the small peak of a larger wave going up?

Cable Update (GBPUSD)

Check this out from Financial Times: Investors dump dollar in bet that US rates have peaked (ft.com)

Cable Update (GBPUSD)

EURUSD to 1.10

EURUSD only

Yeah! I am in a lucky situation regarding swaps with my broker. So, it is great to buy in my case.

USD/TRY