anyone trading cable 2013 - lets roll

[cablemonster]

it's a volatile beast, plenty of leverage available, lets get to work.

My strategy:

Pure Discretionary Trading
Technical Analysis
Price Action
Order Flow information
RANSqwark for market sentiment and unscheduled events

:cheesy:

 

[cablemonster]

picked a nice entry at 44's moved stop to +0.1 pips at 60's looking for full blown reversal into H4 timeframe. got taken out for +0.1. that's the way it goes, keep looking for runners and don't let winners turn into losers.

 

[georgedon]

your source of order flow info ? I use forexlive myself.

 

[cablemonster]

noted options cuts 1500 London time 1.6200 & 1.6150 were not in play today.

 

[cablemonster]

your source of order flow info ? I use forexlive myself.

Yeah I look our for Gerry's posts at forex live London am for touted options. RAN Sqwark often have some london am info which is good. get that free on capital spreads account.

I also use a demo Oanda account which gives full access to IFR thomson thing. MNI bids and also UBS analyst stuff.= and FX bullets.

cable update - shorter t/f's showing potential re-entry to trend, longer t/f's still showing potential reversal, stand aside for now.

 

[cablemonster]

Option barriers will only come into play as strong levels during non event days or low volume sessions when nothing else is dictating the markets intraday. Alo it will depend if its a knock on or knock of barrier.

Also anything less than 150 million is meaningless in terms of OPT barriers as it wont be heavily protected with protection bids/offers.

for sure I concur, nothing can stop market sentiment apart from central bank tinkering, options only come into play if the market 'allows it'

if you got any more decent volume info please post.

 

[cablemonster]

short here at 34. will cut it quickly if I dont like the action

 

[cablemonster]

next level of interest here is 24's, if we crack that we should print a new low for the day. plenty of stops to be had at 1.60 as the london session closes / NY lunch.

 

[cablemonster]

nicely poised for a stop run here, light volume, all set for 1.60 buckle up

 

[cablemonster]

bit slow, still holding short, staying in until I dont like the flow.

my take on stops - I dont use them aside from a 200 pip emergency stop which I have no intention of letting hit, I never take a loss more than 20 pips ever, most losers are sub 10 pips.

my take on money management - I just keep it real, i know all my trade metrics, just keep the expectancy positive then it's all good. dont average in, just admit you are wrong, cut your losers small and move on. know your metrics inside out init.

 

[cablemonster]

1615 5 min bar closes as outside bar covering previous 9 bars, good PA sign that shorts are in control.

 

[cablemonster]

we have been stuck in a 10 pip range for the last hour, volume is light, direction will be determined by the larger players here who control liquidity and volume traded, as well as market sentiment which can never be ignored.

 

[cablemonster]

when larger players are accumulating positions you sometimes see price stay in a tight range for sometime, often the range will 'trend' slightly in the opposite direction from the final completion move.

 

[cablemonster]

market sentiment can ruin the plans of the larger players though, the S&P 500 is threatening to print a session high, which means risk on, which is bullish for cable

 

[cablemonster]

we currently have a tussle between a risk on move across the board against larger players who want to see price move lower. Once it is confirmed who will win the battle it is time to modify the trade.

the low volume in the last few hours means the larger players can complete the move if market sentiment obliges.

 

[cablemonster]

cable is holding its ground so far, a risk on risk off reversal in equities will see cable drop like a stone, lets see if the market will allow the larger players to get what they want. they are hungry for stops @ 1.60 munch munch

 

[cablemonster]

very disappointed cable didn't break lower in last 10 mins, it was prime. I am giving it until 6pm, most London traders will close up then (the ones that are still there).

 

[cablemonster]

cable is a beautiful instrument to trade. Why?

It behaves very well technically especially during the London session.
It is very volatile, more volatile than the euro
The spread is tiny if you have enough large for margin.
Leverage - enough to kill you and more.
Participants - good mix or larger and smaller players

 

[cablemonster]

cable pops +4 pips @ 18.00 London time as longer term players book profits for the week/day and buy to close out.

looking for a move south very soon or will close for a small loss.

 

[cablemonster]

closed for -12, must preserve capital at all times. will be interesting to see if any move happens in the next few hours trading.

wrong or right it doesn't matter the market doesnt care. Cut losers small and run winners.