Best Thread Live Cable Trading

[Baruch]

Can I ask why you are looking for the 6-7 range to give you any clues when most Interbank traders dont start work until 7am ?

7-8 is the first trading hour of the UK day surely this is going to be more representative ?

Apologies if this is all explained in previous posts...

Big Baruch trades the breakout between 7-8 based on the range from 6 until the breakout.

 

[Baruch]

Don't trade BO's!!!

JonnyT

Well, it worked OK yesterday. So what do you trade instead?

PS. I like BOs caused by news, because then you know why the BO/move happens - it makes no sense trading, when you don't know what's happening.

 

[Baruch]

And a contra trend trade will murder you on days like yesterday... viz a vis Zuke, DC and er... Tom H !!!

As I said yesterday: Why buck the trend?

The trend is your friend - why fight it?

 

[trendie]

Wouldn't disagree with that JT. I have watched in horror too many times my money going down the drain seconds after jumping on a breakout.

Phil "Newtron Bomb" Newton trades BOs of the asian session.
however, having identified the actual BO, he waits for it to retrace.
Usually a doji pattern, then enters the direction the BO from a "lower-risk" area.
see his website. cant find it at the moment. perhaps someone can post the link.
he has a video-demo of a recent trade.

taking the retrace, he reckons he reduces being stopped out by spikes, and also has lower risk when taking the trade.
however, when the market really takes off without retracing, I dont know what he does.

EDIT: www.trading-strategies.info

 

[Baruch]

trendie,

What time begins the asian session?

 

[Vegas5]

Phil "Newtron Bomb" Newton trades BOs of the asian session.
however, having identified the actual BO, he waits for it to retrace.
Usually a doji pattern, then enters the direction the BO from a "lower-risk" area.
see his website. cant find it at the moment. perhaps someone can post the link.
he has a video-demo of a recent trade.

taking the retrace, he reckons he reduces being stopped out by spikes, and also has lower risk when taking the trade.
however, when the market really takes off without retracing, I dont know what he does.

Phil's site is:

www.trading-strategies.info

 

[TheBramble]

trendie,

What time begins the asian session?

Can I jump in here Trendie.

The 'Asian Session' runs from approximately 21:00 to 08:00 GMT. But...

The USD/JPY gets traded fairly briskly thoughout the World Day.

Something for you system fanatics to consider.....

 

[eatontrade]

OK, for what its worth here's my prediction............

Daily studies are still heading lower, hourlies have worked out oversold bias so am now looking for resumption of downtrend.

1.7250 is the bottom of the trend channel which runs up from Dec to here and is also the 76.4% fib retracement for the 28thNov to 25th Jan rally....should be enough space for this before Dailies are oversold.

 

[JonnyT]

OK, for what its worth here's my prediction............

Daily studies are still heading lower, hourlies have worked out oversold bias so am now looking for resumption of downtrend.

1.7250 is the bottom of the trend channel which runs up from Dec to here and is also the 76.4% fib retracement for the 28thNov to 25th Jan rally....should be enough space for this before Dailies are oversold.

I've just gone long from 85!!!

 

[Kaffee]

I've just gone long from 85!!!

Hmmm... I'm looking at that as a ceiling... 490 tops.

 

[dc2000]

Also long with a stop at 50
1st port of call 523

 

[eatontrade]

Short from 7509 stop at 7520

 

[Uphios]

Just to clarify the BIG Ben / Big Baruch thing. Are they not exactly the same thing? If the only implied difference is the time it starts then according to the original article Big Ben starts at 1am ET. Assuming this to mean !am EST then this is equal 6AM GMT and 7AM CET. Excerpt from article follows.

The Big Ben stra t e g y
Big Ben is a currency-specific trading strategy
designed to capture the first directional
intraday move that often occurs within
the first few hours after the
Frankfurt/London market openings,
which begin at approximately 1 a.m. ET.

 

[zuke]

LONG 505..looking for 40 pips and 40 pip stop.

 

[Baruch]

Just to clarify the BIG Ben / Big Baruch thing. Are they not exactly the same thing? If the only implied difference is the time it starts then according to the original article Big Ben starts at 1am ET. Assuming this to mean !am EST then this is equal 6AM GMT and 7AM CET. Excerpt from article follows.

The Big Ben stra t e g y
Big Ben is a currency-specific trading strategy
designed to capture the first directional
intraday move that often occurs within
the first few hours after the
Frankfurt/London market openings,
which begin at approximately 1 a.m. ET.

Yes, Big Baruch and Big Ben are basic the same system/method. I have added a new rule: Only trade the BOs in cable, if euro confirms it - to avoid stophunting moves.

 

[Baruch]

I've just gone long from 85!!!

Trading the BO? :cheesy:

 

[JonnyT]

Yes, Big Baruch and Big Ben are basic the same system/method. I have added a new rule: Only trade the BOs in cable, if euro confirms it - to avoid stophunting moves.

Out at 14 for +29

JonnyT

 

[Baruch]

Out at 14 for +29

JonnyT

Or scalping? :cheesy:

 

[zuke]

And a contra trend trade will murder you on days like yesterday... viz a vis Zuke, DC and er... Tom H !!!

Very true. The trick is to have either tight stops or a daily pip loss limit.

 

[Kaffee]

or a daily pip loss limit.

In which case... I should have gone back to bed at 9 o'clock