Currency trading (Sept. 11th > 15th)

[wasp]

What size does everyone trade here on cable (in £ per pip equivilant) if people dont mind answering?

Personally last month was £20 and September is £30 and in theory, October will be £40 but thats a while away yet.

I know some get more nervous with larger size but I'm not really bothered about the size I trade as long as its within my pre determined % factor.

 

[zuke]

What size does everyone trade here on cable (in £ per pip equivilant) if people dont mind answering?

Personally last month was £20 and September is £30 and in theory, October will be £40 but thats a while away yet.

I know some get more nervous with larger size but I'm not really bothered about the size I trade as long as its within my pre determined % factor.

For my Hourly strat I trade the equivalent of c.£30 a pip and around £50-100 a pip on my 4H strat. I no longer trade below the 1H.

 

[Offshore Trader]

I think one of the key attributes of a successful trader is not to make size matter. I personally try to stick to the same strategy regardless of the size I'm trading. I'm getting better......

 

[trendie]

Out of curiousity,does anyone trade using 5 and 30 minute fractals?

jonnyy40;
can you provide a synopsis of fractals in context of trading, and maybe a screen-shot or two?

 

[zuke]

I think one of the key attributes of a successful trader is not to make size matter. I personally try to stick to the same strategy regardless of the size I'm trading. I'm getting better......

Very true OT, I spent a year and half trade nothing more than 50p or £1 a pip so that my trading would become as mechanical as possible. Thats the main reason why I only focus on how many pips I make, not pounds. I'd be lying if I said that I still dont get nervous when I have a large trade on (I was -100 pips this morning on USD/SEK at pretty big size), but the big difference these days is that on every trade I am EXPECTING to win and hence I view losses as a cost of doing business as opposed to a personal sleight on my judgement.

 

[trendie]

determining trend with the longer and trading the traverse on the shorter.

a resounding YES from me.
I prefer 1H as trend-definer, and 15-mins as trigger though, rather than 5-mins.

 

[Priceman]

My girlfriend wont let me risk any more than £1 a pip ! Says it's too risky. I'll show her who wears the trousers ! Hehe.

Seriously though I am still learning and until I get good enough am happy staying with that level.

Oh yes, and obviously not as rich as you lot !!

 

[wasp]

My girlfriend wont let me risk any more than £1 a pip ! Says it's too risky. I'll show her who wears the trousers ! Hehe.

Seriously though I am still learning and until I get good enough am happy staying with that level.

Oh yes, and obviously not as rich as you lot !!

Nowt wrong with £1pp and I spent alot of time at that level until I was more confident and whilst I tested ideas. The only problem I found was I was more complacent and it wasn't until I boosted the size that I started caring enough!

 

[martin brown]

wasp, it all depends on market conditions.

if its tight ranged & choppy then i'm just testing the market with 1 lot size ie ($10 / pip)

if its fast and trendy then i will not hesitate to pyramid until i'm almost maxed out on margin!

 

[martin brown]

12:00 (GMT) US - Boston Federal President Minehan Speaks

 

[Priceman]

Nowt wrong with £1pp and I spent alot of time at that level until I was more confident and whilst I tested ideas. The only problem I found was I was more complacent and it wasn't until I boosted the size that I started caring enough!

I certainly know what you mean there wasp, I sometimes act on hunches and get slapped for 20-30 pips ! I am going to set aside 10k in the near future and then build up from £5 per pip each successful month.

Trade what you see, not what you think I keep telling myself. Sounds like the irish guy from that quiz show, forget the name... oh this old memory !

 

[wasp]

........ I am going to set aside 10k in the near future.....

That was only about the equivilant of Zukes spread on SEK this morning!!!

 

[martin brown]

cable still loitering at the unchanged mark. someone please kick some like into it!

 

[wasp]

If it doesn't happen with the US adding some, I doubt it will do anything too exciting for the rest of the day

 

[martin brown]

FRB Boston president Cathy Minehan says the Fed must remain "quite vigilant" on the risks to the
inflation outlook. She expects GDP growth in the high 2% range with core inflation to subside gradually. She expects housing's "moderate downturn" to continue.

Minehan does not have a vote on this year's FOMC but she will vote beginning with the January 30-31, 2007 meeting. She will be followed this morning by FRB St. Louis president Bill Poole at 15:45. Poole, also a non-voter this year, will be on a CNBC interview at 17:50.

 

[jonnyy40]

BO up

 

[martin brown]

anyone have any thoughts eur/gbp ?

 

[Offshore Trader]

anyone have any thoughts eur/gbp ?

It's done nothing since this morning's pop higher, so the next move is likely to be upwards again. Resistance is 6830 above which it will have completed a double bottom, target around 100 points higher. All of which makes think that cable is ripe for another move lower but I have no position now and won't do anything until we move out of the current range

 

[jonnyy40]

Copied From The Woodies CCI system Thread
Dump the CCI though.
dod
Member




Join Date: Jan 2003
Location: Barnham
Posts: 71 I don't know about 'pure' Woodie but Fitzy's approach was basically entering on pullbacks in a decent trend. This can and is applied to all time frames, from 1 min to weekly. Fitzy used 5 min for setups and 1 min for entries.

Quite why the CCI should be used I don't know. As I understood it, the idea was to draw trendlines on the retracement as it formed on the CCI rather than on the price itself and to trade the break of those lines. An alternative was to trade the price bars in anticipation of a break of the CCI based trendline. I supposed the reasoning was that as the CCI neared the zero line and was 'rejected' by it, this, more often than not, represented a useful sized retracement by price that could be relied on to make a sustained move more often than those times when the CCI turned either before or after reaching the zero line.

Trading pullbacks in trends does throw up the perennial problem of knowing when the turn back in the direction of the trend is most likely to occur, and whether the move is likely to be sustained. I didn't find the CCI made this much clearer; but I take my hat off to Fitzy who seemed to have second sight in this respect.
__________________
All flesh is as grass

 

[wasp]

Not been a profitable day for me and shall knock it on the head now.....

UK CPI, RPI and core CPI in the morning...... time for some sun :cheesy: