Best Thread Live Cable Trading

[Kaffee]

SHORT 1.7328 Target 1 (I will scale out) 60 pips STOP 1.7358..pretty confident on this trade so did 10 lots.

Ouch. Good luck

 

[PipSqueek]

SHORT 1.7328 Target 1 (I will scale out) 60 pips STOP 1.7358..pretty confident on this trade so did 10 lots.

hope the res. up here holds up for you, it seems to so far.

 

[badtrader]

zuke Maybe you short starting to look ok, I see a short for around 25 pips from here at 1,1330

 

[Baruch]

germany is 1 hour ahead
so our 7am is 8am frankfurt

And I suppose they start trading around 8 am central europe time in Frankfurt?

 

[zuke]

Nice fade, short term trend up,looks like you stop will get hit

Oh yee of little faith!! The 344-350 Res is very strong and if the NFP numbers are as expected or better, this trade could be good for a couple of hundred pips.

 

[badtrader]

Oh yee of little faith!! The 344-350 Res is very strong and if the NFP numbers are as expected or better, this trade could be good for a couple of hundred pips.

zuke

Did you not see my last post I changed to short form 1,7330 for a target of 25 pips.

 

[fxmarkets]

hmm theres a 2 day trend line cable has found support on half dozen times, hence it sticking at 7260 today, this line should be tested again downside from here onwards might head off to test sub 7250 overnight.

 

[badtrader]

From short 1,7330 target 1,7305, Well target hit , for 25 pips - 3 pips if you spread betting

 

[fxmarkets]

badtrader, thats a worringly accurate call mate........ 7305 mid price, on my charts

 

[badtrader]

Fx

The calls I give are based on bid price. for longs or short. All forex chart are based on bid, Although you can change these to ask on some if you wish. I my self use VT Trader charting it is the best free charting out there. Although I dont mind paying for charts there is no need with this one, its great.

 

[fxmarkets]

BT Yeah use VT myself, very good, although got the mid price of 7305 off Oanda as they print their average (mid ) price, with option to show bid ask spread lines....

Have you programed any custom indicators in VT yet or adapted any? very good forum board to providing help programming..

 

[abobtrader]

There is no order book / true level II for FX.

Each provider apart from CME futures is effectively there own market maker so you are only seeing orders on there book.

True level II reflects the orders on each ECN / Market maker.

IB have provided this book functionality for yonks. I perdonally see no relevence, ask the Flipper

exactly JonnyT. Hotspot provide this functionality as well, as I think do Oanda (visibility of orders). It may be interesting to look at but since you are only ever seeing a piece of the action, I don't think there is any predictive value in it.

In terms of a global order book, the closest you would likely get to is having an insight in to what is happening at Citibank (I think they are still the largest FX dealers?). Two weeks ago, in the economics focus page of the Economist, they talk about this microstructure approach to exchange rates. Two academics analysed the order books of Citi and reckoned the info could be used to predict 16% of the dollar's moves.

If you are interested in the microstructure approach, the page links to some interesting sites.

 

[abobtrader]

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.

Hi Livermore, trust me dude, the traders are at their desks at 7:00 in the UK.

I can't remember the last time I woke up that early

 

[Baruch]

Hi Livermore, trust me dude, the traders are at their desks at 7:00 in the UK.

I can't remember the last time I woke up that early

Not a good morning for the 7-8, or Bin Ben, method. A 30 pips move south, and then a rebound. Maybe it's because we get NFP later today?

 

[Baruch]

Read our friend abobtraders very good blog:

http://www.abobtrader.blogspot.com

 

[Kaffee]

Not a good morning for the 7-8, or Bin Ben, method. A 30 pips move south, and then a rebound. Maybe it's because we get NFP later today?

Maybe I don't understand but I thought you said it was a break of the range established between 7 and 8 am.

Range was 7301 - 7271.... give some breating space of 5 points and since 8 neither extreme has been broken, so what did you trade ?

 

[zuke]

Not a good morning for the 7-8, or Bin Ben, method. A 30 pips move south, and then a rebound. Maybe it's because we get NFP later today?

What did you trade mate? range hasnt been broken according to my charts

 

[zuke]

SHORT 1.7328 Target 1 (I will scale out) 60 pips STOP 1.7358..pretty confident on this trade so did 10 lots.

50 pips onside, so moved stop to flat. Now a free trade :cheesy: . Will start to scale out if we hit 268.

 

[PipSqueek]

50 pips onside, so moved stop to flat. Now a free trade :cheesy: . Will start to scale out if we hit 268.

:cheesy:

 

[Baruch]

What did you trade mate? range hasnt been broken according to my charts

No, and I didn't trade.