Best Thread Live Cable Trading
klal said:
As good as any other indicator. It's about getting a balance between gain locks and stop losses.
I keep banging on about Hans 123 but he really has hit the nail on the head with his "let the winners run and get it to a break even trade a.s.a.p" approach. Only problem is, it suffers from potentially large drawdowns during the bad months.
Edit:- Oh and if you want them buckshee...
http://www.livecharts.co.uk/Members/display_currency_data.php
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Cableguy
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Kaffee said:
Well put Kaffee, I used to be system and indicator mad, now I just approach each trading day with an objective view (thank you Douglas) what worked for me yesterday doesn't mean that it'll work for me today. Just like to see the story unfold.
I know the hans123 strategy has been going for sometime, is there a pattern for the bad months? Perhaps they can be identified?
CG
Cableguy said:
The man has nerves of steel if you ask me. He's set the target and that's it, he's happy to see gains of 60, 70, 80points on a position get wiped because the system targets 120 on cable.
For the life of me I cannot see why he doesn't look at trailing stops, but you can't knock the results - avrage of 600 points per month.
No obvious pattern as I can tell.... maybe stay out on NFP data days !?
Kaffee said:
I learnt the hard way that its onlt having "nerves of steel" that will get you consistently large profits. A few of you have commented on how Im able to stay in a trade so long, but Im been on the other side of the fence (small gains, large losses) and it sure aint sweet. Yes it pees me off when (as happened this morning) a 47 pip gain reverses and becomes a -30 loss, but thats just the nature of trading.
zuke said:
Hmmm... well, the "big cajones" analogy also extends to the draw down.... For instance in December he was down about 250 pips at one point... it turned round to a 200+ pip gain on the month. I'd have to change something if t was my system and went 250 points down.
But I guess that shows the faith he has in his method.
Don't think you're the same creature as Hans though Zuke, yesterday you were targetting 1:1 trades with regard to stops and profits.
Kaffee said:
Oh hell no!..Im not the same creature as Hans
I could never stomach those kinda drawdowns. I almost never have a stop greater than 30 pips. The point I was making is that you MUST let winning trades run unless you see something huge on the horizon to affect them.Jobs consensus
JOBLESS CLAIMS
Thursday, Jan. 5, 8:30 a.m. EST
First-time claims for jobless benefits for the week ended Dec. 31 probably stood at 320,000. That's the consensus among economists queried by Action Economics. Jobless claims stood at 322,000 for the week ended Dec. 24, from 319,000 in the previous period, and 331,000 for the week ended Dec. 10.
The four-week moving average stood at 325,000 in the week ended Dec. 24, virtually unchanged from 324,750 for the week ended Dec. 17, and 329,250 for the week ended Dec. 10. Continuing jobless claims for the week ended Dec. 17 climbed to 2.72 million, from 2.63 million in the week ended Dec. 10.
JOBLESS CLAIMS
Thursday, Jan. 5, 8:30 a.m. EST
First-time claims for jobless benefits for the week ended Dec. 31 probably stood at 320,000. That's the consensus among economists queried by Action Economics. Jobless claims stood at 322,000 for the week ended Dec. 24, from 319,000 in the previous period, and 331,000 for the week ended Dec. 10.
The four-week moving average stood at 325,000 in the week ended Dec. 24, virtually unchanged from 324,750 for the week ended Dec. 17, and 329,250 for the week ended Dec. 10. Continuing jobless claims for the week ended Dec. 17 climbed to 2.72 million, from 2.63 million in the week ended Dec. 10.
