Best Thread Live Cable Trading
... not cable specifically, but if the setup is right.coolTrader
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I see cable making 7718 first before 1.7811 it has been in a short from last night took a short from 65 but closed way too early. I am not in yet though might rejoin if it does not fail or if it retest the top and fails
coolTrader
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YachtFund said:
what was your entry...
coolTrader
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YachtFund said:
I will counter that :cheesy:
coolTrader
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long 51.. let see how far it will take me ready to jump out at any reversal
coolTrader
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out for break even will wait a while
It all based on odds.
If you are trying to get 10 pips here an there, you need to actually get 13 ticks. If you risk 10 then you only need 7 ticks to get stopped out. So for a 1 to 1 ratio thats 2-1 against...Spread is very very important on small timescales, but not so on bigger timescales.
The normal market noise on GBP is 30 odd ticks so it makes getting the direction right difficult consistently enough not to get stopped out on smaller timeframes IMHO.
Put it this way I couldn't trade profitably on 5 min charts, I've had 7 winning days in a row trading hourly charts...
You are right in that SLs have to be bigger on longer timescales, but so is the average trade. Just apportion your capital accordingly and do smaller size on a longer timeframe. I'm certain you are more likely to be a winning trader on a longer timeframe than <15mins for this market.
JonnyT
If you are trying to get 10 pips here an there, you need to actually get 13 ticks. If you risk 10 then you only need 7 ticks to get stopped out. So for a 1 to 1 ratio thats 2-1 against...Spread is very very important on small timescales, but not so on bigger timescales.
The normal market noise on GBP is 30 odd ticks so it makes getting the direction right difficult consistently enough not to get stopped out on smaller timeframes IMHO.
Put it this way I couldn't trade profitably on 5 min charts, I've had 7 winning days in a row trading hourly charts...
You are right in that SLs have to be bigger on longer timescales, but so is the average trade. Just apportion your capital accordingly and do smaller size on a longer timeframe. I'm certain you are more likely to be a winning trader on a longer timeframe than <15mins for this market.
JonnyT
Hi,
Virgin Forex trader here (although have been trading stocks and indices for years), so be gentle with me.
At 1.7808 I'll go long with a target of 1.7954 within 1-3 days.
At 1.7692 I'll go short with a target of 1.7633 within a day or so.
Probably longer-term than you guys trade buy, hey, it's still trading Cable eh?
Currently it's in no man's land as far as I'm concerned, so I'll refrain from trading and have a cup of Earl Grey instead.
Virgin Forex trader here (although have been trading stocks and indices for years), so be gentle with me.
At 1.7808 I'll go long with a target of 1.7954 within 1-3 days.
At 1.7692 I'll go short with a target of 1.7633 within a day or so.
Probably longer-term than you guys trade buy, hey, it's still trading Cable eh?
Currently it's in no man's land as far as I'm concerned, so I'll refrain from trading and have a cup of Earl Grey instead.
