Best Thread Live Cable Trading

Guys, very new to this... and trying to learn quickly. currently the price is at 1.8444 - is the trend up or down in your opinion ?. It seems as if its moving sidewards... but i like hearing a more professional opinion on whats happening ! Sorry for the daft questions....
 
Generally my aim ideally is obtain 35 - 50pts a day... any advice would be extremely helpful to me.

Where do you check for news announcements.... that may affect the cable ?

Thanks
 
bunglesix said:
Generally my aim ideally is obtain 35 - 50pts a day... any advice would be extremely helpful to me.

Thanks
Click to expand...
IMHO, looking for X pips a day is not wise. You have no idea of how tomorrow will be or your next 1, 3 or 5 trades. Better to look to achieve a highest possible percentage per day of the overall moves.

For example, If cable broke the lowest support and hovered at your target 40 pips, you'd take it and walk away a happy (wo)man. What happens then if Cable then drops another 60/80 and tomorrow its in a 20 pip range all day and you lose 5 trades in a row? Not only have you lost all from yesterday and more, if you'd have stayed in your trade until a solid reason to exit appeared, you would have covered the losing day and still been up over the 2 days.

It is much better to have a good reason to exit a trade, not just a 'if I make X a day I'll earn X a month' because who knows what the next hour/day/week will bring... It just ain't that simple... You have to maximize each day...

Just my $0.02
 
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chrisw said:
IMHO, looking for X pips a day is not wise. You have no idea of how tomorrow will be or your next 1, 3 or 5 trades. Better to look to achieve a highest possible percentage per day of the overall moves.

For example, If cable broke the lowest support and hovered at your target 40 pips, you'd take it and walk away a happy (wo)man. What happens then if Cable then drops another 60/80 and tomorrow its in a 20 pip range all day and you lose 5 trades in a row? Not only have you lost all from yesterday and more, if you'd have stayed in your trade until a solid reason to exit appeared, you would have covered the losing day and still been up over the 2 days.

It is much better to have a good reason to exit a trade, not just a 'if I make X a day I'll earn X a month' because who knows what the next hour/day/week will bring... It just ain't that simple... You have to maximize each day...

Just my $0.02
Click to expand...

=-==-=-=-=-=-=-=-===--=

Hi Chris,

Thanks for your post.... I was probably naive when I said, I would ideally look for 35 - 50 pips... and what u say does make sense, why keep in a trade when there is a exit point.

You may not trade for a day or so, from awkward movements in the market but on average it would be nice to gain that movement from a trading day to make your days worthwhile. In your opinion what is happening to the market today ?
 
bunglesix said:
=-==-=-=-=-=-=-=-===--=

Hi Chris,

Thanks for your post.... I was probably naive when I said, I would ideally look for 35 - 50 pips... and what u say does make sense, why keep in a trade when there is a exit point.

You may not trade for a day or so, from awkward movements in the market but on average it would be nice to gain that movement from a trading day to make your days worthwhile. In your opinion what is happening to the market today ?
Click to expand...

Naturally a 50 pip average day is ideal but don't limit yourself to take it as soon as it appears, make as much as you can from each day and the 50 pip average will work out over the week / month... (hopefully :cheesy: )...

Sorry, I don't have opinions on the market though, I just follow price action and act as strength and weakness shows up... You just have to spend a long time getting a feel for your market of choice and roll with it... My opinion is irrelevant when it comes to your money though...
 
No Asian break out - 5 min. GBP

Not many trades lately for the Asian breakout followers :cry:

Seems to know when I have a day off lately :cheesy:
 

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bunglesix said:
Guys, very new to this... and trying to learn quickly. currently the price is at 1.8444 - is the trend up or down in your opinion ?. It seems as if its moving sidewards... but i like hearing a more professional opinion on whats happening ! Sorry for the daft questions....
Click to expand...

No trend today, just swings in a sideways market ;)
 
Offshore Trader said:
Are you guys still fully short? Looks as if it is struggling to go lower IMHO
Click to expand...

Yup, napped throught the spike up :eek: :(

Let's see what NY brings

edited to add: the cable upswings compared to the downswings as overlayed with euro shows that indeed it's more willing to go north than south
 
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out of short 52 at +4, short 63 at +16: +20 (+86 = 106 for today)

still short at 40 and 27, moved limit to 25
 
out of short 40 at +3: +109 (just realized I have to go to work, so I'm trying for b/e or better atm to close all positions for today, no point in getting greedy when I'm nicely up) If I can't close or looks like a rebound is in the, I'll just hedge the position to neutral.
 
and out at +3: +112 pips, on a 110 pip range ;) :cheesy:

Hi ho, hi ho, it's off to work we go :D
 
marmoset

Just found this thread im new to t2w, are you a sucessful tarder with profits week in week out if so i think i will be here to stay.

Thanks
 
Hi chaps just thought I would say hi

very interesting market moves on Cable FTSE and Dow with reference to my post 7631
 
Jasonhanda

Your answer is yes. Excellent calls from marmoset but be careful because following someone else's calls is a dangerous game but there is plenty to watch and learn from. His calls are very successful and unlike most gamblers, he still posts when he's wrong.

Sorry for butting in marmoset but I'm not sure if you are too modest
 
dont suppose anyone fancies a run from 415 to 618??

not that Im trading mind just doing it for fun
 
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