I'm not sure what I've done wrong I followed your instructions.
I funded my Ig account with 100,000k with a mix of different people's money
I brought cable at 12715 @ 100perpoint I put a limit at 12840 and stop loss at 12600.
I went to bed woke up this morning and my £100,000 turn into £400 over night.
I could do with some help
Adam, this is really awful, what has happened. But you read or listen video uncarefully. Our view is bearish on cable and that's why we've talked about 1.2450 target for the whole week. Upside retracement we have intended to use
for short entry. This was major setup.
About scalp long trade - we've mentioned it just briefly, said that you could try if you have experience and if we will get pattern. We've got nothing - no pattern was formed.
Actually your result should not be as bad as now, but it has happened so that you've been caught by terrible occasion from UK Prime Minister comments that pushed Cable to 30-years lows.
Here is our conclusion from most recent weekly research. How have you decided to go long?
Conclusion:
Currently we do not want to look too far in the future. Yes, market shows strong bearish action, especially on very long-term charts, drops down indeed look miserable, and from that standpoint GBP could reach even 1.06 target, but right now we're mostly interested in tactical weekly/daily setup.
Last 3 weeks GBP looks heavy no signs of upward bounce and even has shown clear signs of weakness on daily chart. Thus, we should be ready for downward breakout and completion of our nearest downside target around 1.2450 area. Meantime, it seems that GBP is loosing shor-term downward steam either, which could lead to minor upside retracement in the beginning of the week. most recent weekly research.
Adam, lets' do couple of things:
1. Do not put any real money on your accounts for some time.
2. Open demo account. Trade on demo while you're learning.
3. Spend time on your education. You could start with our Forex Military School. IT will be very useful, especially in term of stop placement, risk management etc.
https://www.forexpeacearmy.com/comm...-trading-education-forex-military-school.158/