coolTrader
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getting rather choppy even though it is still looking bullish. not one to put in the big lots.
Best Thread Live Cable Trading
dc2000 said:
The first NEW move was up - I didn't catch the next train, after the first came back, but took some pips out later news trading the reverse. I "qualifyting" the BB by getting it confirmed by euro.
Bu the way: I think cable is to choppy for me. I will trade euro instead - and only cable with big UK news like today.
Baruch said:
I mean the Big Ben b/o. Take today as an example. The 7-8 range was 7677-7717. It broke out to the long side after the 9.30 data to the daily high of 7744, so it was possible to snatch around 20 pips.
Surely it's a better percentage trade than just jumping on the first new move?
coolTrader
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Baruch said:
there was a break out @ 7:55 after the short . I took that and got 20 or more points. 78/81 to 24/27.It was very fast and fast in pulling back as well!
then also @ 9:30 took that on the pull back up.
zuke said:
Well, yesterday it gave 80 pips. And today 20 pips, but I only got 1 pip because I was looking for 80 again... :cheesy: The next BB train could have given 35 pips, but I didn't catch it because I was busy writing comments here... :cheesy:
Never mind: The method is good and sound - whether we prefer to take the first new move right on the head or wait for a breakout. Because there are a lot of other daytraders waiting to jump on a new move in the morning, when London and Frankfurt opens. The only problem is - like today - that we don't any big moves when there's big eco reports later in the morning.
PS. Anyone trading the Hilda method?
Baruch said:
Baruch... unless you can say in words what you define as a turn in price this is not a system. It's a gut feel trade.
At least with Big Ben... it's defined and you either trade or you don't. From all I've seen (and tried) pin in a paper trading will be more miss than hit.
Well done so far... your success has come from holding for the big moves so now you can afford a few stopped out trades. But I agree with Zuke... percentage plays (and defined parameters) are more my cup of tea.
Right, off for some lunch.
Kaffee said:
Kaffee,
Yes, it's not a system, it's a method. So far I had some big winners and no losers, so I don't complain... :cheesy: I have never seen a system which works all the time - if there was such a one, we would all trade it, wouldn't we? No, all systems are bogus and snakeoil. And I am sure Big Ben is a loser - as JohnyT (I think it was him?) says it is after backtesting it.
Baruch said:
As long as it works..we are all happy! Nothing exciting after the CPI data, managed to catch another 13 pips from a 7726 short. Ive met my daily target, so Im off. See you guys 2 morrow when we will be trading the Big Baruch/Ben method again!
Baruch said:
Depends what JohnnyT wanted out of it... backtested over a couple of weeks suggests it's good for 15 - 20 pips a day..... at £10pp it'll do. When it fails though, and you start chasing it... that's when it doesn't look so attractive.
If you want 80 pips day in day out Big Ben ain't it. Nor would I suggest is Big Baruch !
But like I said, find a way to earn the pips and then crank up the stake !!