From a monthly point of view price is sitting on the fence. image

Cable Update (GBPUSD)

Today I traded the GJ just for a change and have already made my profit. Based upon the above info can you see what I did here? image Nothing different I can assure you.

Trading the Cable swings via averages

Whoops I forgot to add this was a tad over 9% of profit. (Due to adding additional lots and moving the stop accordingly)

Trading the Cable swings via averages

To me forming a bias is akin to convincing yourself of a desired result and you could easily remain convinced when things are going wrong. I like to keep stuff simple, a signal, target and 50% initial stop. Look at this 5 min chart from yesterday ...

Trading the Cable swings via averages

Hope everyone just got that 1-hour signal. It was a double bottom B and C so expecting a double top with A.

Trading the Cable swings via averages

Exactly all a person needs to say is they won or lost a X% today. No figures involved at all.

Cable Update (GBPUSD)

Well wouldn't that dramatically drop the carnage and we would all be very merry.

Cable Update (GBPUSD)

OK I give up. If I take my standard entry and divide it by 10, copy and paste all ten pending orders aiming for 50 pips of movement. I will brag about how I just got 500 pips.... Nuts, creative accounting whatever way you look at it.

Cable Update (GBPUSD)

The Police claim some 5% of road traffic accidents are associated with drink driving. So, if the other 95% of the sober ones kept off the roads, we piss pots would be far better off.

Cable Update (GBPUSD)

Well, I don't really care but if you wish to stop misconceptions then stop posting them. You keep putting the c after the 0.05 when these are lots not cents. You are saying that if I place a trade long for 30 pips and close half at the halfway point ...

Cable Update (GBPUSD)

There are three lot sizes... 1.0 is a Standard lot size returning $10 a pip. 0.1 is a Mini lot size returning $1 per pip 0.01 is a Micro lot size returning 10 cents per pip. You are buying 5 micro lots per trade which is 50 cents per pip. Take your ...

Cable Update (GBPUSD)

No I don't keep stats on that sort of thing because it could lead to forming a bias. I simply take it that if trading above C then I am long and put my stop below C.. Marry this to the Average and we have a good chance of not only being correct but ...

Trading the Cable swings via averages

Thanks for showing how you derived your 202 pips very creative accountancy indeed. You had a net investment long of $7 and made $104 profit from it which equates to 14.96 pips. Not 202 pips. Still a nice return though.

Cable Update (GBPUSD)

This is a good question and I suppose the short answer is I don't know because I don't have sufficient data to say one way or the other definitively. Now the longer answer... What I can say is I am currently tracking the frequency of these trades ...

Trading the Cable swings via averages

At last, it only took 4 hours.

Trading the Cable swings via averages

Seems like a bit of creative accounting to me getting 200 pips from an 80 pip move?

Cable Update (GBPUSD)

I see GU bounced at exactly the 50% retrace once again on the hour chart

Cable Update (GBPUSD)

That is what we wanted to see....

Trading the Cable swings via averages

Well Whale it bounced at the 61.8 so how high can it fly?

Cable Update (GBPUSD)

The Cad is doing OK though

Cable Update (GBPUSD)