Best Thread Live Cable Trading

[dc2000]

Ah I had it wrong aswell I thought you were just trading the first breakout of the price between 7 and 8am when you say join the move do you look for a certain amount of pips in one direction ?

As yet I have no position on cable but may be tempted to join long at 452

 

[Zinger]

I really don't know what the Ben Bin method is in details. I just heard the name, and found that it sounded good. Maybe I should call my method for the Baruch method? :cheesy: My method is: Join the morning move between 7.00 and 8.00 in the morning, when London and Frankfurt opens. If there is a range, join the breakout. If there is no real range (like today) join the move, if it breaks support.
It's very simple - and profitable...

Thanks for the information Baruch

 

[JonnyT]

You all have it wrong!!!!

Big Ben was a commercial trading system based on the fact that the market usually finds its head then trends until the US opens.

As I understand it there is no such filter as the breakout of the 7-8am action though often they will be the same.

Essentially trades are taken on breakouts of the trading range initially established so for example it is possible a Big Ben trade will occur at 07:47

There is more to the system than this such as stops etc etc.

JonnyT

 

[purplekiwi]

OK, so we call this the Big Baruch!

 

[Kaffee]

Would someone please explain what exactly the Big Ben strat is ? I thought you traded the breakout of the range between 0700 and 0800, (7511 and 7485).




Thanks !

Zinger... you have it right. Wot you have described is this threads "adopted" version of Big Ben.

The version that appeared in Traders mag a while ago basically said that Frankfurt open and London open both try and fake a direction and that you should follow the first one (or something like that)

But this threads Big Ben method came about as a result of trying to work out Johnny T's breakfast strategy.

It has worked very very well since I first read about it on here... IF you pitch the stops right.

Basically it's the same as Hans123 on strategybuilderfx... except we go 7-8 and his is 5-9....

Actually, on the point of stops... anyone care to share where they do/would pitch theirs??
Do you think a fixed pip value is ok ? Or say, the other side of the range or bottom of the candle making the break etc etc.

All ideas welcome.

 

[Kaffee]

I really don't know what the Ben Bin method is in details. I just heard the name, and found that it sounded good. Maybe I should call my method for the Baruch method? :cheesy: My method is: Join the morning move between 7.00 and 8.00 in the morning, when London and Frankfurt opens. If there is a range, join the breakout. If there is no real range (like today) join the move, if it breaks support.
It's very simple - and profitable...

Except when you get itchy trigger fingers and join too early like the other day !!

 

[Baruch]

Except when you get itchy trigger fingers and join too early like the other day !!

I never had a loss on this method. But I suppose it must come one day. And so what? Losses are part of the game.

Stops? I use a 20 pips stop - I am no hero, and I don't want to lose more than 20 pips in any trade.

 

[Baruch]

OK, so we call this the Big Baruch!

Good idea. So maybe I could sell it for 2300 GBP like Soul-Trader did with his Hilda Baker system? :cheesy:

 

[Kaffee]

I never had a loss on this method. But I suppose it must come one day. And so what? Losses are part of the game.

Stops? I use a 20 pips stop - I am no hero, and I don't want to lose more than 20 pips in any trade.

Only winding you up.

So how long have actually had money behind these trades ? What sort of pips are you making on average ?

Do you have a set target in mind ? Or do you have some other method of determing exit ?

Having followed it for a few weeks, it would be soul destroying to target 20 pips and then watch the trend carry on for another 100.....

 

[Cableguy]

OK, so we call this the Big Baruch!

Hmhmhm, sounds tasty.. Is that serviced with chips......

 

[FetteredChinos]

lon at 1.7500, stops at 1.7480..

bounce near trendline...

 

[Baruch]

Only winding you up.

So how long have actually had money behind these trades ? What sort of pips are you making on average ?

Do you have a set target in mind ? Or do you have some other method of determing exit ?

Having followed it for a few weeks, it would be soul destroying to target 20 pips and then watch the trend carry on for another 100.....

Well, I started trading this method last week :cheesy: . There was one here - obobtrader - which had back-tested the system, and he said it don't work. But I don't care, as long as it give me some pips every morning...But as I said, it's a side-show for me, because I am a news trader. That's what I love.

PS. Pips? Yesterday I made 200 pips. Target? What the markets want to give. Exit? When the move/trend stops.

 

[Cableguy]

Well, I started trading this method last week :cheesy: . There was one here - obobtrader - which had back-tested the system, and he said it don't work. But I don't care, as long as it give me some pips every morning...But as I said, it's a side-show for me, because I am a news trader. That's what I love.

PS. Pips? Yesterday I made 200 pips. Target? What the markets want to give. Exit? When the move/trend stops.

No better system then a traders own discretion! Is this the same Baruch with the 50EMA/50RSI method?

CB

 

[Kaffee]

Found it... Rav700 posted an excellent article on the Big Ben method in this very thread.

It's post #531 for anyone that's interested....

 

[Kaffee]

Well, I started trading this method last week :cheesy: . There was one here - obobtrader - which had back-tested the system, and he said it don't work. But I don't care, as long as it give me some pips every morning...But as I said, it's a side-show for me, because I am a news trader. That's what I love.

PS. Pips? Yesterday I made 200 pips. Target? What the markets want to give. Exit? When the move/trend stops.

LOL. You didn't make 200 pips yesterday from the big ben method.

And 200 pips from a 20 point stop strategy?? Blimey, that's some set of indicators you've got
there.

 

[Kaffee]

No better system then a traders own discretion! Is this the same Baruch with the 50EMA/50RSI method?

CB

Cross of the 50 period EMA or 50 RSI ??

 

[Cableguy]

Cross of the 50 period EMA or 50 RSI ??

Uh huh

 

[Baruch]

No better system then a traders own discretion! Is this the same Baruch with the 50EMA/50RSI method?

CB

Yes, I don't believe very much in mechanical methods. You also need to use your brain...Yes, I worked on Elitetrader with my own 40EMA/40RSI method - it worked also very good, but the problem was, that many of the signals came when I was sleeping....

 

[Baruch]

Cross of the 50 period EMA or 50 RSI ??

Cross of 40 period EMA confirmed by 40 RSI. Try it - and report back here... :cheesy:

 

[Kaffee]

Cross of 40 period EMA confirmed by 40 RSI. Try it - and report back here... :cheesy:

I run 20 SMA myself. Never really thought of using RSI as a confirmation signal.

Thanks for that... will take a look. What time settings on the chart ?