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cablemonster
Cablemonster is hungry for pips this week. Looking at potential re-entries in the hourly down trend.
anyone trading cable 2013 - lets roll
- Thread starter cablemonster
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cablemonster
Volatility is dog dirt this morning.
bbmac
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It's not like any downtrend I have ever seen on 1hr - classic or general re opa (overall price action)...more like classic ranging conditions on that t/f now.
G/L
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random12345
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Would be interested and grateful to hear your reasons for trading cable over the EUR/JPY if you're looking for something more volatile than EU. I find cable to be a bit noisier than EJ when using tick charts and the spread behaves within a similar range on the DMA I have access to.
Cheers.
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cablemonster
hourly bar just closed with a nice pin bar off a previous price flip zone. if the bottom of that bar breaks we could have a nice runner here.
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cablemonster
no specific reasons random. London is still the centre around which most FX is conducted, I guess it depends on what times of day you want to trade. trading 8am - 5pm London is great for cable. I don't use tick charts, do you find them useful, these days I dont really go below a 5min.
DMA - are you talking about an ECN or other institutional platform?
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cablemonster
I am interested in a short if 56's print.
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cablemonster
bullish candle formations dominate the lower time frames
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cablemonster
not interested in a long here though as will want to see if price can break and hold 1.6082 1st. There will be sellers around there and I would need to know they have been cleared out prior to considering a long.
random12345
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Ah ok, horses for courses, thanks for your time on that. Yes I prefer tick charts for my automated (or near enough automated) trading and the tick movement on EJ is about as clean as it gets (there is often little resistance to a big move with only a few micro pullbacks unlike certain pairs that only move like that off the back of huge news), but I use 3min for old fashioned channel and S&R trading.
I find trading 6:30 - 5 to be about the only feasible hours these days on almost any pair (though 5-9 should pick up in Jan). I like to be done before lunch now entirely or I consider the day a potential loser overall. I'd honestly hate to be a US forex trader.
ECN - IB. I recall a post you made (unless I'm mistaken) regarding spreads where you had direct access to interbank liquidity - may I ask what platform that is so I can check it out? Most require 7 figures ja? I would find it odd to make out a treasury deposit order to someone I literally have never heard of even though I'm sure they are well known to the bigger players.
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cablemonster
twas integral FX platform - google them
other institutional grade platforms are:
• 360T
• CitiFX
• Currenex FX
• Deutsche Bank autobahnFX
• Digitec D3 Streaming Interface
• ICAP/EBS
• ICAP/EBS Live XML
• FXAll Accelor
• FXAll Relationship Trading Customer
• FXall Relationship Trading Provider
• FXCMPro
• GAIN GTX
• Goldman Sachs Electronic Trading FX
• Hotspot FXi FX
• Hotspot ITCH
• HSBC FX
• Integral FX inside
• LavaFX
• Market Factory (FX Enhanced Market Data and Trading)
• Morgan Stanley FX
• Nomura FX B-2-B
• UBS FX2B FIX
A decent ECN is fine for most price taker strategies.
random12345
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Many thanks - I've definitely heard of those...!
It would be worth the outlay if I could tighten my average EJ spread as 0.8 is about the average I get through IB. Will investigate.
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cablemonster
as expected cable found some sellers @82's and I wait to see if they can hold that level.
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cablemonster
easy stand aside here, no side has clear control
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cablemonster
long 84's stop 69's looking for a runner
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cablemonster
ok so we got a trade on, currently at +10 pips, once I am at +10 pips I NEVER EVER let a winning trade turn into a loser EVER. The reason for this is I do not want to feel emotional PAIN. stop moved to +0.1 pips, I do this as if it comes back (which it will do on many occasions) I get to register a psychological win.
now we are in trade management mode, more on my trade management later. I am looking for 20 pips minimum BUT if I think the market is turning against me I will take what I can get. i.e. I will take 1 pip if I think the market is going to go against me.
now we are in trade management mode, more on my trade management later. I am looking for 20 pips minimum BUT if I think the market is turning against me I will take what I can get. i.e. I will take 1 pip if I think the market is going to go against me.
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cablemonster
and out for +0.1pips looking for re-entry
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cablemonster
really nice 15m bearish pin off previous H4 S/R w/200ema on H4.
short 80's stop 95's
short 80's stop 95's
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cablemonster
was within a whisker of cutting it but stayed in, see if we can get a runner south
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cablemonster
great hourly close, this trade has potential to be a runner if we can get a good start. lets see where we can get with this one.
