Best Thread Live Cable Trading

ChowClown said:
TD, aye, 4pm ties in nicely and all pending orders are cancelled at 4pm for the forward testing. I agree though, a tweak to the pending order cancellation would be useful. Today for example VEBO was filled on the sell order just before 15:30 and now with 2 mins to go before close, a loss is highly likely.
...for -15 odd...promptly followed by the next wave down....marvellous.
 
Don't you just hate it when you take a profit (30 pips) thinking you did well and caught it near the bottom for your exit (8470) then after making a cuppa come back to see its dropped another 70! I felt like throwing the tea over the laptop! damn market!

It wasn't the markets fault at all really, it was mine for not following rules and I had no reason to move my stop so tight other than fear and greed. :devilish:
 
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I think you have to find your own style and be happy with it.

If 20-30 pips is what you normally take out of a trade then be happy because you got another in the bag this afternoon. You'll get more winning trades during the week which is good psycologicly. It is impossible to get the maximum pips out of every swing and it is easy to beat yourself up over it.

It took me years to settle down and realise that I actually make my money out of two or three big winners (50+pips) each week. I do find though that I have to be more patient but on the upside it does prevent over trading.

This mornings 17pips along with this afternoons 95 means that I only need one more decent trade for the week and then I can stop looking at charts.

Find your own target levels and stick with them so when they are hit you can grin from ear to ear.

Congrats on that 30 pips, nice one, relax and enjoy the tea.
 
discipline

Cheers guys,

I have a system/method I have back and forward tested to buggery which I know works out when I stick to it. Thats just the problem, I tend not to work off profit/pip targets, I *should* use certain reasons (S/R and PIVOTS) to trail sesibly behind so I miss the 20 of the top and bottom and catch the middle 60%...

I made 2 trades this morning which both reveresed to breakeven or thereabouts and when it paused around the 470 level today, I just wanted to make a half decent profit, breaking my cardinal rules of trailing and put it in too tight, just because I was expecting/fearing a rise. Had I used my system and exercised discipline, I would have been happier.

I am pleased with the 30 and although I would have prefered the 100, I would have much prefered to have just followed my own rules :devilish:
 
dc2000 said:
afternoon chaps I see things turned out nice for the shorts
I had foolishly decided it was going to be a boring day on Cable and decided to lose money on the Dow & FTSE instead. I am now going to write out 100 times "I must not mess with Indices, I dont know what Im doing" :(
 
Wasp, Johnny40, Ripcord and any others who took profit from this sell-off; where may I ask were your entry and exit levels? Were they market or Limit orders?

cheers.
 
smbtnt said:
Wasp, Johnny40, Ripcord and any others who took profit from this sell-off; where may I ask were your entry and exit levels? Were they market or Limit orders?

cheers.

Mine was short at 8520 which was taken at 14.57 on a market order going into the news. I had a stop at 45 if things went pear shaped. Took my profit at 8425 which as a little early as I would normally hold until 17.00 and the close of UK markets but no complaints when you clear a trade like that.
 
I am now going to write out 100 times "I must not mess with Indices, I dont know what Im doing"

LOL

I must of miss read I thought you were on the Dow from 11002 looking for 250+ which I thought was fair if a little optimistic, but can't forgive you for the FTSE though today was a no brainer as it will be for a pop n drop tomorrow

still waiting for 331 cable meself
 
Hi folks,

Out of interest, what dates are various news days that are good for trading? I look here which give details, but have no real idea of what news would move the markets.

nfp - First friday of each month at 1.30pm

What others?

Thanks

-A8
 
The problem with trading news is that often the news will be priced in and may or may not move the market in the direction you think it should the best option IMO is to watch for news that is not expected or is outside what is forecast, interest rates would be an obvious one to watch for.
 
dc2000 said:
The problem with trading news is that often the news will be priced in and may or may not move the market in the direction you think it should the best option IMO is to watch for news that is not expected or is outside what is forecast, interest rates would be an obvious one to watch for.

Hiya DC, so do you just buy/sell at certain price levels then and not worry too much about the news, unless of course big figs are expected ? I am still putting my stops too tight and getting wiped out only for it to turn as I thought, but as I can't watch all day I can't reset my levels during the day.

So once 331 is hit you fancy 650/660 ?
 
I have now turned this trade and gone long

If I miss out on 60 pips I'll still be happy
 
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Hi Priceman
thats exactly what I do, most big news happens towards the end of the week at which point I will usually be in a position looking for profit but know where I would want to jump off if something went against me

good job you mentioned my next level there I hadn't worked my figs out for a few days, having done so this morning I have now turned the trade
 
hi CC: dont know if this is correct place for this, but....

your July-25th journal
VEBO
BUY: 8561.7
SL: 8469.6
TP: 8711.7
Close: 4pm for -15.6

my MT-4 charts show high for y-day was around 1.8535, so why have you deducted 15 pips, when the trade never triggered?
 
trendie said:
hi CC: dont know if this is correct place for this, but....

your July-25th journal
VEBO
BUY: 8561.7
SL: 8469.6
TP: 8711.7
Close: 4pm for -15.6

my MT-4 charts show high for y-day was around 1.8535, so why have you deducted 15 pips, when the trade never triggered?
Well spotted TD, entered the loss against the wrong order; -15.6 on the SELL, rather than the BUY.
 
...currently short VEBO...sar @439. Which happens to be right on today's pivot. Be useful to see DC's 331, by which time VEBO and FCBO will have stops at BE. lol i can hear machetes being sharpended in the background...
 
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