Best Thread Live Cable Trading

[eatontrade]

Its amazing how rangebound the price has been recently (check the hourly over 10 days). Its been range for 2 days followed by break to a new level then range for 2 day s again.

Can I use this ? almost certaintly not. The one thing you can count on is that once you try to take advantage of a pattern it will change ).

If it does continue though I'm looking for a breakout to the upside at 7590 taking us into the 77's before heading lower again.

All IMHO of course.

Good Luck/Good Trading

 

[indexgold]

Traders look to hard, at things, saying its rangebound, they then wait for a breakout to form , or some patten. who do you think are making these patterns you are waiting for the pros to draw patterns for you , think about it..........I myself trade the EUR.USD Futures on a few trades in 2 hours have made $640 on trading 3 lots. and they call this rangebound

 

[eatontrade]

Traders look to hard, at things, saying its rangebound, they then wait for a breakout to form , or some patten. who do you think are making these patterns you are waiting for the pros to draw patterns for you , think about it..........I myself trade the EUR.USD Futures on a few trades in 2 hours have made $640 on trading 3 lots. and they call this rangebound

I'm very happy for you.

I wasn't complaining about the repetitive ranges. Obviously it is as easy to make money trading the range as anything else........., whilst the range holds.

I was pointing out that it was unusual to see these range steps persist for so long and also that it can be difficult when the market switches from one mode to the next. I.e. rangebound to trending and vice versa.

 

[indexgold]

Make it simple if you see the market going down (Red Bars) sell it, for a few ticks, if you see it going up (Blue bars) buy it, for a few ticks, and don't be greedy ride the short term moment moves, nothing more nothing less

Personally I don't care if there is a range or trend, there is always an opportunity to make money.

 

[trendie]

Make it simple if you see the market going down (Red Bars) sell it, for a few ticks, if you see it going up (Blue bars) buy it, for a few ticks, and don't be greedy ride the short term moment moves, nothing more nothing less

Personally I don't care if there is a range or trend, there is always an opportunity to make money.

some of us are still languishing in the SB playpen, complete with 3 pip spreads.
such a strategy as you describe works with DA, with no spreads, and only trade commissions.
this is something we need to "work up" to, hence the need to view a larger time-frame to cover those spreads.

 

[indexgold]

trendie

what I said above, can be applied it to any time frame,j ust dont be gready

 

[Tzachi]

trendie

what I said above, can be applied it to any time frame,j ust dont be gready

But it can be done with a 3 pips spread on a short time frame such as 1 or 3 min? Or you must do it with futures at 1 pip spread and $6 round trip?

 

[jezza888]

I can't obviously speak for anyone else but personally, I'd rather one or two trades per day and get larger moves rather than in and out alot. Its not greed, its just comfort own my goals. Rangebound days aren't a problem but IMO they are boring as I like larger moves... I have made about the same as you today but just in a different way....

each to their own I guess...

Must be harder via SB though to try for smaller moves.

 

[indexgold]

Thats what makes the markets we all got diffrent veiws and styles,Jazza888 am I correct in thinking you trade euruse futures over spot price.

Tzachi

It can't be done with 3 pip spread for 3 to 6 pip moves. but it can be done for 15 to 100 pip moves. I trade futures and looking for 4 to 10 pips. and try to buy the bid for long trades and sell the offer for short trades, with commission it workes out half a pip, that covers the spread and commission, I also got a S/B account for positions,

 

[eatontrade]

Make it simple if you see the market going down (Red Bars) sell it, for a few ticks, if you see it going up (Blue bars) buy it, for a few ticks, and don't be greedy ride the short term moment moves, nothing more nothing less

Personally I don't care if there is a range or trend, there is always an opportunity to make money.

I'm all for keeping it simple but what you are suggesting sounds like a recipe for getting whipsawed and a massive commissions bill. There must be more to your strategy than this. if you are trading futures surely you are looking at the order book, market depth and time and sales data. To completely discount "Patterns" is to completely throw out technical analysis.......are you sure ? TA and patterns WORK. If there is a dirty great head and shoulders on a chart people ARE going to sell it. This IS going to make it go down.

 

[jezza888]

Hi indexgold,

Nope, I actually trade spot GBP/USD with Oanda mainly, but do diverse into others incl.varying futs and other crosses.

J

 

[Tzachi]

Thats what makes the markets we all got diffrent veiws and styles,Jazza888 am I correct in thinking you trade euruse futures over spot price.

Tzachi

It can't be done with 3 pip spread for 3 to 6 pip moves. but it can be done for 15 to 100 pip moves. I trade futures and looking for 4 to 10 pips. and try to buy the bid for long trades and sell the offer for short trades, with commission it workes out half a pip, that covers the spread and commission, I also got a S/B account for positions,

What commission do u pay for a round trip?

 

[indexgold]

$4.80

 

[Tzachi]

$4.80

For a round trip? its very nice. Which broker may I ask?

 

[indexgold]

order book dont mean sh,,it for trading EUR/USD Futures the Cash is King on forex.all I got is 1 moving avr on my chart, dont care for head & shoulders

 

[indexgold]

Ib

 

[Tzachi]

Ib

Thanks, will look into it.

 

[indexgold]

I'm all for keeping it simple but what you are suggesting sounds like a recipe for getting whipsawed and a massive commissions bill. There must be more to your strategy than this. if you are trading futures surely you are looking at the order book, market depth and time and sales data. To completely discount "Patterns" is to completely throw out technical analysis.......are you sure ? TA and patterns WORK. If there is a dirty great head and shoulders on a chart people ARE going to sell it. This IS going to make it go down.

order book don't mean sh,,it for trading EUR/USD Futures, Cash is King in forex. all I got is a 1 moving avr on my chart, dont care for head & shoulders and other so called patterns,

 

[zuke]

Afternoon all, havent posted for a while. Index Gold..there isnt just one way to make money and as long as everyone is happy with their strats, more power to them. Your method sounds like a recipe to get whipsawed to me, however, thats beacuse, Im looking only for 35-40 pips per day at big size. I'd much rather that than doing thousands of rt's every day..horses for course and all that.

 

[indexgold]

Zuke

Yes, there are many ways to trade. I can trade many different methods, the one I have mention is scalping/short term, the EUR/USD Futures for 4 to 10 pips is very easily achievable. I also do play positions for 40 to 100 point moves. im not knocking anyone all I have said is, that's how I play the market.