Best Thread Live Cable Trading

[fxtc]

Long @7607 : SL 7581 : TP 7802 : estimated profit +190 pips

 

[zuke]

First of the day..LONG 7609 stop 20 target 7634

 

[trendie]

re: Big Ben.

If the Big Ben triggers a short, and then reverses, ( ie; falls, then goes up and breaches the high of the 7-8am bar ), do you go LONG ?

or is Big Ben a one-trade a day shot ?

 

[Kaffee]

re: Big Ben.

If the Big Ben triggers a short, and then reverses, ( ie; falls, then goes up and breaches the high of the 7-8am bar ), do you go LONG ?

or is Big Ben a one-trade a day shot ?

Well..... according to that article posted yesterday (by Chowclown ??) it's a one shot deal.

BUT... have a backtest.... your idea seems to work.

EDIT:- Which makes it a variant of Hans123, but with different timeframes

 

[Cableguy]

Well..... according to that article posted yesterday (by Chowclown ??) it's a one shot deal.

BUT... have a backtest.... your idea seems to work.

EDIT:- Which makes it a variant of Hans123, but with different timeframes

Found this in my favourites, prob worth looking at as well if it hasn't been posted before

http://www.trade2win.com/boards/showthread.php?t=11352&highlight=filter

 

[Kaffee]

Found this in my favourites, prob worth looking at as well if it hasn't been posted before

http://www.trade2win.com/boards/showthread.php?t=11352&highlight=filter

Interesting snippet from one of messages there:-

"I tend to analyse by number of weeks rather than calendar months, since months vary in length. As of Friday, using just the 7-10am BO on GBP$, with a 10pip buffer, and letting the trades run to 9pm, I accumulated 416 pips in the previous 4 weeks. (I follow FXCM's data for my Eur$ trading as well and believe their data feed for GBP$ is accurate (as far as most retail forex SPs are, anyway), so I consider my results reflect what was achievable)."

Sits with your Fire and Forget preference Trendie.

 

[Kaffee]

Long @7607 : SL 7581 : TP 7802 : estimated profit +190 pips

Any plans to re-enter this position ?

 

[Cableguy]

Any plans to re-enter this position ?

I'm looking for a Long @ 7528, it's a strong support area imho. Also, it's the short breakout target for L5..

 

[fxtc]

Any plans to re-enter this position ?

re-entered 7540

 

[Cableguy]

Long @ 7530, target: 7575, s/l: 7510.

 

[Cableguy]

Long @ 7530, target: 7575, s/l: 7510.

Closed @ 7560 for +30 (my daily target). I'll have to figure out how to scale out with metatrader.

 

[trendie]

to those guys who have daily targets:

if you dont achieve your daily target, do you increase bet-size for next day ?
cos if you target 30 pips a day, and you profit 4 days, and lose 1 day, thats 120 - 30 = 90 pips per week.
overall average of 18 pips a day.

or do you decide how many pips you want, and factor in your win/loss before deciding the daily target.
eg; you want about 20 pips per day. but you know you may lose 1 out of 4 or 5 trades, and so target 30 or 35 pips, so it all balances out.

 

[droog]

For those interested in Big Ben. Snaffled from another bb.

There was another explanation of big ben posted on here I think in the form of a word doc. Someone said it was a better explanation. Does anyone have it please? I have been searching for it for ages on here.

TIA.

 

[dc2000]

Hi Chaps
nice game today
Im looking at some short term strats on cable but only have data for the past 6 months if anyone would be so kind as to post some charts with the 7am to 1 pm time frame from early last year or 2004 a few random days is all Im after

 

[ChowClown]

There was another explanation of big ben posted on here I think in the form of a word doc. Someone said it was a better explanation. Does anyone have it please? I have been searching for it for ages on here.

TIA.

...that would be useful; from previous posts here, Big Ben appears to be the breakout from the 7-8am range, but the pdf i posted appears to describe Baruch's approach (it doesn't use the EUR action for confirmation though), ie waiting for the Frankfurt and London opening range to form from 6am GMT. Perhaps someone could clarify this morning's Big Ben. I've attached my interpretation, based on the Taders Mag pdf, but not completely sure.....

Cheers

 

[zuke]

to those guys who have daily targets:

if you dont achieve your daily target, do you increase bet-size for next day ?
cos if you target 30 pips a day, and you profit 4 days, and lose 1 day, thats 120 - 30 = 90 pips per week.
overall average of 18 pips a day.

or do you decide how many pips you want, and factor in your win/loss before deciding the daily target.
eg; you want about 20 pips per day. but you know you may lose 1 out of 4 or 5 trades, and so target 30 or 35 pips, so it all balances out.

Trendie, the point of me having a daily target is actually not monetary..its CONSISTENCY. I find that if I can consistently produce 25-30 pips per day, I can then increease my size to give myself a nice healthy income. If I have a couple of losing trades per day, I pack it in (except last week!) and start again the next day with the SAME target. If I really wanted to make up the monetary difference, I would just increase my size.

 

[zuke]

to those guys who have daily targets:

if you dont achieve your daily target, do you increase bet-size for next day ?
cos if you target 30 pips a day, and you profit 4 days, and lose 1 day, thats 120 - 30 = 90 pips per week.
overall average of 18 pips a day.

or do you decide how many pips you want, and factor in your win/loss before deciding the daily target.
eg; you want about 20 pips per day. but you know you may lose 1 out of 4 or 5 trades, and so target 30 or 35 pips, so it all balances out.

Forgot to add that given the size I trade, I only actually "need" to bag 15-20 pips per day but factor in losing days hence the 25-30 pip target. Hope this helps.

 

[Kaffee]

...that would be useful; from previous posts here, Big Ben appears to be the breakout from the 7-8am range, but the pdf i posted appears to describe Baruch's approach (it doesn't use the EUR action for confirmation though), ie waiting for the Frankfurt and London opening range to form from 6am GMT. Perhaps someone could clarify this morning's Big Ben. I've attached my interpretation, based on the Taders Mag pdf, but not completely sure.....

Cheers

If you can make head or tail of Big Baruch you deserve to make money. Too many ifs and buts.

According to that pdf you posted, you ignore the first breakout and trade the second.
Still waiting on the 2nd one today !! The essence of Big Baruch, Big Ben, Hans123 and all the breakout stuff is get on the trend and stay on it. Simple in theory.

All that Big Baruch, Big Ben, Hans et al do is give you the entry price...... they don't give you the bottle to make the trade. That's what I'm struggling with.

 

[Kaffee]

to those guys who have daily targets:

if you dont achieve your daily target, do you increase bet-size for next day ?
cos if you target 30 pips a day, and you profit 4 days, and lose 1 day, thats 120 - 30 = 90 pips per week.
overall average of 18 pips a day.

or do you decide how many pips you want, and factor in your win/loss before deciding the daily target.
eg; you want about 20 pips per day. but you know you may lose 1 out of 4 or 5 trades, and so target 30 or 35 pips, so it all balances out.

Overstate my daily requirements by 2. To offset the bad days... of which there are plenty !!

 

[superspurs]

personally,im not consistent enough to have daily targets,just take what i can,if any at all.