Cable Trader - Warts and all

[JonnyT]

Hi folks,

I'm now using Spot On to trade the GBP future as per Cable Trader.

I'm going to record all the live trades here. These will be actual trades and actual fills, nothing hypothetical about it.

Lets start with yesterday. This just happend to be one of the worst days for the system!

Short @1.8407 slippage 0.0002
Exit @1.8642 for a loss of 235 pips

Not a good start.

Lets see what the future brings.

JonnyT

 

[TWI]

If it is any consolation, it was not only Spot On that had a bad day on Friday....The pain of big figure days.

 

[donaldduke]

Is Cable Trader a box system or have the rules been disclosed on this site (i did a search
but couldnt find any).

A loss of 235 pips, surely this must be a position trading system?

 

[JonnyT]

No, its a day trading system.

The rules haven't been disclosed on this site, nor will they be.

JonnyT

 

[rog1111]

JonnyT

If you use a stop loss, do overall results deteriorate drastically ?

Roger

Hi folks,

I'm now using Spot On to trade the GBP future as per Cable Trader.

I'm going to record all the live trades here. These will be actual trades and actual fills, nothing hypothetical about it.

Lets start with yesterday. This just happend to be one of the worst days for the system!

Short @1.8407 slippage 0.0002
Exit @1.8642 for a loss of 235 pips

Not a good start.

Lets see what the future brings.

JonnyT

 

[donaldduke]

..

 

[MGBRoadster]

Looking at the charts, Cable hasnt traded around 1.8407 for a week, how can this be a day trading system?

You're probably looking at the Spot charts, Donalduke.

Cable Trader trades the GBP Future (currently September contract) on IB

 

[donaldduke]

MGB you are right, Cable trades 100 pips off the spot if i recall, do you know why the diff is so big? (Interest rates perhaps?)

There only seems to be a 15 pip or so difference with the EUR contract and spot EUR/USD?

 

[donaldduke]

Ah, Cable Trader only uses a time stop, this would explain the large loss. Hopefully there will be
some large wins in the future too.

 

[rog1111]

The interest rate differential between Britain & the US is greater than that between the Euro zone and the US, hence greater cost of carry and rollover credit or debit on spot GBP than spot EUR.

rog1111

MGB you are right, Cable trades 100 pips off the spot if i recall, do you know why the diff is so big? (Interest rates perhaps?)

There only seems to be a 15 pip or so difference with the EUR contract and spot EUR/USD?

 

[JonnyT]

Cable Trader +42 pips today. Live trading of GBP future using Spot On software version 1.28

JonnyT

 

[JonnyT]

Cable trader + 108 pips. Thats real life trade using the GBP future.

JonnyT

 

[BarNov]

Jonny.. is Cable Trader similar to a strategy you gave freely months ago for EUR/USD.. where you use the hi/lo of the 5m bar at 07:00 to go either long or short .. and then close out at 21:00.

With the loss you took the other day.. is there any merit in adding a buffer that must be breached before you enter a position... or would a buffer have reduced the loss on your loss the other day.. but also lower the profitable trades.. with the net efffect of reducing your long term profit if used. i.e it's beter to take some bigger hits for benefit o fthe profitabel trades.

Hope you don't object to me asking

Thanks in advance

Paul,.

 

[TWI]

I have found it is better to introduce something to get you out if the breakout goes wrong rather than a buffer that prevents you getting in. Not a fixed stop as that will not be effective, you need something more dynamic, something like a medium term MA e.g if short and upside breech of MA then stop out. Lots of options here.
Works quite well with daily b/o systems.

 

[BarNov]

I have found it is better to introduce something to get you out if the breakout goes wrong rather than a buffer that prevents you getting in. Not a fixed stop as that will not be effective, you need something more dynamic, something like a medium term MA e.g if short and upside breech of MA then stop out. Lots of options here.
Works quite well with daily b/o systems.

as MAs cover EMA, SMA, WMA LMA etc.. and any number you want to think of.. do you have a preferred type opf MA and period that seems to woer best???

Paul.

 

[TWI]

No real preference, there are many things you can use, I just mentioned MA's because it is the simplest thing to describe. I think that it is more important what period you use than what you use and that is specific rather than general. Just experiment.

 

[Hittfeld]

As I am in the process of ordering Cabletrader next week, I would be very grateful for any feedback on how the system has done last week and how satisfied customers are with JonnyT and his system.

Thanks for details

Hittfeld

 

[Zenda]

Whats the Link so we can look - Z

 

[JonnyT]

Cable Trader results to date:

-0.0235
0.0042
0.0108
-0.0161
0.0019
0.0098

Total -0.0129

JonnyT

 

[LevII]

Cable Trader results to date:

-0.0235
0.0042
0.0108
-0.0161
0.0019
0.0098

Total -0.0129

JonnyT

Ouch! Isn't the usual wisdom to keep losses small in relation to wins while waiting for the big hits?

How is it doing now?