Best Thread Live Cable Trading

[eatontrade]

Eaton..thanks for all the info..do you find the futures preferable to trading the spot?

In all honesty I havent made my mind up yet. I sometime do better on the futures and sometimes not. I think I'll continue with both for a while and then decide.

If you do want to try futures you only need 5k USD to open a Tradestation account and trading 1 contract at a time would mean an exposure of $6.25 per pip.

Good luck anyway.

 

[zuke]

In all honesty I havent made my mind up yet. I sometime do better on the futures and sometimes not. I think I'll continue with both for a while and then decide.

If you do want to try futures you only need 5k USD to open a Tradestation account and trading 1 contract at a time would mean an exposure of $6.25 per pip.

Good luck anyway.

Ill look into it..thanks for all the info mate.

 

[eatontrade]

From Thomson.com..............

The MPC is expected to keep the UK base rate at 4.5% for
a sixth consecutive month at 12:00GMT today. This could spur some knee-jerk
profit-taking on short GBP positions instigated on UK rate cut risk. GBP/USD
traded as high as 1.7800 as recently as last Friday"s NY session.
By contrast: a surprise 25bp UK rate cut could spark fresh selling of the pound,
and depress GBP/USD to/through 1.7300. 1.7200 was the early-year low.
1.7380/85 bids based cable losses spurred by the 09:30GMT disclosure of an
unexpected widening in December"s UK trade deficit (See 42331 ). The bids reside
just ahead of yesterday"s hawkish Greenspan comment-fuelled five-week low of
1.7378. The pound was already on the defensive into the UK trade data, following
the Halifax"s 08:00GMT suggestion that UK house prices fell by 0.4% last month.
GBP/USD offers are touted at 1.7465/75. 1.7465 was the Asian session peak.
1.7475 was yesterday"s high. 1.7500/10 is a resistance window north of 1.7475.
US weekly jobless claims will be disclosed at 13:30GMT. Forecast: 285k. US trade
data ensues tomorrow (Friday).

 

[zuke]

opportunistic trade SHORT 428 looking for 40 pips stop is 25 pips

 

[dooby12]

how will the interest rates effect cable?

 

[eatontrade]

how will the interest rates effect cable?

People prefer to earn a higher rate of interest than a lower one so they will buy a currency with a higher interest rate against a currency with a lower one moving the exchange rate in the process.

Obviously interest rates are only one factor in determining where 2 currencies are exchanged but the expectation that one of them will soon earn a lower interest rate will make that currency less attractive and drive the price lower.

 

[lachie]

opportunistic trade SHORT 428 looking for 40 pips stop is 25 pips

I've taken pretty much the exact same trade.. seems to be some major support at 405 on the 5 minute chart though..

 

[zuke]

I've taken pretty much the exact same trade.. seems to be some major support at 405 on the 5 minute chart though..

Yeah you are right, but I reckon itll break through in the next 15 mins.

 

[lachie]

Yeah you are right, but I reckon itll break through in the next 15 mins.

Good call

 

[zuke]

opportunistic trade SHORT 428 looking for 40 pips stop is 25 pips

Moved stop to b/e

 

[zuke]

Moved stop to b/e

stopped out at b/e

 

[eatontrade]

short @ 25

 

[tradesmart]

Looks like a potential trendline break on the dollar index – target 89.50, which could support Cable/Euro….slight spark to the upside now which could see 1.7460 tested again shortly imho

 

[eatontrade]

short @ 25

Closed at 85 for + 40. Will reshort on a break of 7370

 

[mark twain uk]

7376 seems to act as support, at least for the time being, it looks like it may be turning north, but then again...

 

[eatontrade]

Morning all - Short @57 after break of up trend from 1am low.

 

[TheBramble]

Morning all - Short @57 after break of up trend from 1am low.

That's a brave call when the 07:20 low at 440 hasn't been breached.

Good luck with that one.

I'm looking to play within 31/97 with a potential bias to the upside generally.

 

[trendie]

as per Newtron Bomb; ( my reading of his strategy )
the asian session has been breached to the upside, and retraced.
he would be looking to enter a long when the retrace has finished, and get in LONG with a better price.

( how did hans123 get ion y'day ? eyeballing charts suggest AM trade was small loss, and PM trade didnt trigger )

 

[eatontrade]

Morning all - Short @57 after break of up trend from 1am low.

Moved stop down to breakeven

 

[Kaffee]

as per Newtron Bomb; ( my reading of his strategy )
the asian session has been breached to the upside, and retraced.
he would be looking to enter a long when the retrace has finished, and get in LONG with a better price.

( how did hans123 get ion y'day ? eyeballing charts suggest AM trade was small loss, and PM trade didnt trigger )

Eh ? Is the 7491 high part of the european session then ?

Edit:- Will do the Hans update as soon as he posts.