Best Thread Live Cable Trading

[dc2000]

Hi Chaps
IMO trading this you will get some winners and some losers but ultimately you will get wiped out you need to have a way of assessing risk at the moment your entry is random

 

[Kaffee]

Points? What's that? We call it pips... :cheesy: But the method is to jump on the first break-out between 7.00 and 8.00. If you did that this morning, you had made around 30-40 pips (depending on your exit). The day before we had a 150 pips move, but it took some hours.. In fact, I believe, we only have to trade one or two hours in the morning, to be profitable and make a living...

Points Pips schmoints schmips... whatever.

Cheers for the explanation.... Breakouts seem to be the flavour of the month at the moment.

Good luck

 

[Baruch]

Hi Chaps
IMO trading this you will get some winners and some losers but ultimately you will get wiped out you need to have a way of assessing risk at the moment your entry is random

I don't agree. We will get some small losses, and some big wins, so the method should be profitable. The entry is not random, because we only trade a break-out.

 

[Baruch]

Points Pips schmoints schmips... whatever.

Cheers for the explanation.... Breakouts seem to be the flavour of the month at the moment.

Good luck

Break-outs makes the big bucks. It's very dfficult to scalpe Cable because the spread is too big.

 

[Kaffee]

Break-outs makes the big bucks. It's very dfficult to scalpe Cable because the spread is too big.

Hmmm it's not the breakout that makes the dough, it's staying on it.... How tight do you bang the stop in at ?

 

[Baruch]

Hmmm it's not the breakout that makes the dough, it's staying on it.... How tight do you bang the stop in at ?

15-20 pips. Yes, the problem is not the entry, but the exit...

 

[Kaffee]

15-20 pips. Yes, the problem is not the entry, but the exit...

And the breakout is defined as +5 or so ?

 

[Baruch]

And the breakout is defined as +5 or so ?

5 is the maximum spread...20 with spread and 15 without (depending on the spread). Why risk more?

 

[dc2000]

I don't agree. We will get some small losses, and some big wins, so the method should be profitable. The entry is not random, because we only trade a break-out.

But how will you quantify the breakout if its a genuine breakout to let the position run or a false breakout to take profits early?

 

[Baruch]

But how will you quantify the breakout if its a genuine breakout to let the position run or a false breakout to take profits early?

I don't know. Any ideas??

 

[Baruch]

Livermore
if that's your thing then go for it

just make sure you are not last man in

Well, if you follow me I will not be the last man... :cheesy:

 

[zuke]

I don't know. Any ideas??

As I said earlier, I wouldnt trade the first B/O..I'd wait for the retracement for confirmation and trade on the next breakout.

 

[Baruch]

As I said earlier, I wouldnt trade the first B/O..I'd wait for the retracement for confirmation and trade on the next breakout.

OK, let's see tomorrow (and the next mornings) what's best to do...

 

[Baruch]

abobtrader,

Yes, sometimes at 7.00 on the nose, but let us give the traders an hour to drink coffee, read the newspapers, and get ready for the big move - so the right thing to do for us is to be ready for jumping onboard the big move between 7.00 and 8.00.

That's why I will call this strategy for the 7-8 method.

I am sure the traders in Frankfurt starts 8.00 am. Because of the time difference. But the traders in London? Are they all sitting before their screens 8.00 am? I don't think so. Therefore it makes sense to give them some time to start the big morning move by waiting until 9.00 am.

 

[Kaffee]

I am sure the traders in Frankfurt starts 8.00 am. Because of the time difference. But the traders in London? Are they all sitting before their screens 8.00 am? I don't think so. Therefore it makes sense to give them some time to start the big morning move by waiting until 9.00 am.

Is essence, it's the same as and Hans' strategy that was posted on here a few weeks ago. He waits for a breakout of the 5am - 9am range trades that, then for another breakout of the 9 am to 1 pm range and trades that. So in essence could have 2 trades on the same instrument. The idea being that the trend is re-inforced and you're adding to a winning position.

Stops are "other side" of the channel.

 

[ivor31]

fx level 2

Any of you guys use fx level 2. Badtrader, you must use this or your crystal ball. Good to see you still winning, and possibly teaching soon. It helps on the break out moves.Pictures attached

 

[Zinger]

I have just received an email from a company called safelimited; they offer a daily recommendation service on 4 pairs including cable. I always have given these services a big swerve; however I must admit I am intrigued.

441 pips profit for cable in October - have not checked their results for November............

Anyone heard of them ?

 

[Kaffee]

Any of you guys use fx level 2. Badtrader, you must use this or your crystal ball. Good to see you still winning, and possibly teaching soon. It helps on the break out moves.Pictures attached

Didn't know there was an order book for fx.

 

[Cableguy]

Any of you guys use fx level 2. Badtrader, you must use this or your crystal ball. Good to see you still winning, and possibly teaching soon. It helps on the break out moves.Pictures attached

Sorry, Level II for Forex? I didn't think there was a central exchange just a network of "dealers"?

 

[ivor31]

Neither did i until 3 weeks ago. Its real alright.