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cablemonster
seems to be finding some buyers at the 200 daily ma.
anyone trading cable 2013 - lets roll
- Thread starter cablemonster
- Start date
- Watchers 11
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cablemonster
short 91.1
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cablemonster
correction short @11.0
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cablemonster
still in waiting for the 50's to print!
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cablemonster
out for 35.5 pips shocking trade management, should have taken 50 pips
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cablemonster
Quick recap of where I am in the journal. All trades are called live within 30 seconds of entry/exit. 30 trades so far in 2013. Attached is a spreadsheet of my trades plus a graph of the cumulative pips. Had a poor start as I kept looking for huge runners and letting them get scratched. Last 15 trades have been solid. All in all I am very happy with my entries, my weakness is in trade management/exits. This is where I intend to improve myself over the coming weeks/months.
I trade part time for the moment, I am not ready to go 100% pro yet, this time will come though. Aside from some light tech stock trading in 1999 I entered the game in August 2008 so I am 4 years in. I run another business that pays my way. 2012 was my 1st profitable year, not a big profit but ended green.
I am targeting 2014 as the time when the cable monster will turn full time pro, 2013 is a year of growing, learning, and building intra day/week/month profitability.
My time for the rest of January at the screens will be less as I have non trading business matters to attend to.
GTTY.
I trade part time for the moment, I am not ready to go 100% pro yet, this time will come though. Aside from some light tech stock trading in 1999 I entered the game in August 2008 so I am 4 years in. I run another business that pays my way. 2012 was my 1st profitable year, not a big profit but ended green.
I am targeting 2014 as the time when the cable monster will turn full time pro, 2013 is a year of growing, learning, and building intra day/week/month profitability.
My time for the rest of January at the screens will be less as I have non trading business matters to attend to.
GTTY.
Attachments
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cablemonster
bias is short for Monday however we have a great confluence level @ 1.5827. At this level we have previous support from the November 2012 low coupled with the 50% fib of the 1.5268/1.6380. A good level to watch.
Shakone
Senior member
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Cablemonster I'm interested in how those news/gossip feeds affect your trading. What are they adding to the decisions? Initially I thought perhaps they were giving you direction, i.e. rumours of a load of stops below X would make you consider shorts only. But it seems from reading that you usually tend to have a daily bias anyway.
Nice trading by the way
Nice trading by the way
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cablemonster
Hi Mate
I do tend to have a daily/weekly bias. So for example on cable at present looking at the daily/weekly chart by bias is clearly short. This is not to say I don't trade counter my bias, it's just that if I do trade counter to my bias then I need more compelling reasons and will look to take profits off the table quicker rather than letting them run.
An interesting question on how using IFR/MNI and RANsquawk affect my trading? 1st up they make sure I am looking at the same levels as the larger players. For example IFR have told me they only have 10 private individual subscribers, the rest of the subscribers are all the banks/institutions/props. This matters as I need to make sure that I am looking at the same levels as the larger participants in the markets as these are the people who can move and influence price. Large order flow touted in the market can act as an additional layer of confluence for me, although you have to be careful. In this journal somewhere there is a post where I talk about large bids touted and instantly the market tanked hard.
I tend to laser on to price levels where I know participants will act, the more confluence the better, lets say previous S/R on high timeframes plus a fib. If orders are touted at that level even better. It's then a case of working an entry on those levels, however the individual chooses to do it. I prefer to use my own proprietary price action studies, not rocket science.
Once the entry is made then you have to decide to get out when you know you are wrong or it gets to a point where you still might be right but you dont want to risk any more money on the position. All the time remembering that there is no right or wrong as someone can come along at any time and drop a few yards taking you out of the trade.
Once you get your screen time up you will notice price moving around and you will get a gut feel for things like if price breaks here it is likely to go here. Recently I have been looking at liquidity gaps, areas where price does not hang around, when price returns there again it does not hang around.
The live squawk def helps me, live count downs of data releases act as reminders and unscheduled news can aid in not taking a trade or taking profits off the table etc. Also gives you an idea of what events are driving the risk on/risk off bias and market sentiment.
that's all for now, off to bed.
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cablemonster
@Shakone
here is another example of how RANsquawk can help you. Tomorrow there are eurogroup meetings all day. Now these sort of gathering will cause rumour flow and unshceduled press releases at any time. So if I was looking to put on a position I would certainly want to know if anyone was about to speak or a rumour had come out.
here is another example of how RANsquawk can help you. Tomorrow there are eurogroup meetings all day. Now these sort of gathering will cause rumour flow and unshceduled press releases at any time. So if I was looking to put on a position I would certainly want to know if anyone was about to speak or a rumour had come out.
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cablemonster
Hey Talbs, good luck with that. I have my charts open I just have some other business matters to attend to. I will be keeping an eye on things but I will only take a trade if it prime.
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cablemonster
def be careful of the short squeeze, a tonne of stops will be behind the 200 daily ma and that is a juicy target. MNI reported many traders saying they will sell the rally up to 1.59.
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cablemonster
i would be very interested in a short @ 1.5955 as we have great confluence there but it remains to be seen if this rally will hold. watch for the pre London lunchtime move.
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cablemonster
very interested to see how this 30m bar closes and whether it can engulf the session price action.
Talbs!
Experienced member
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Alot of people trying to get this short, think we see 1.5750 this week, charts look constructive as i said im traidg a 4 hourly as cable has held the 14 day EMA all last week, got to try and not get whipped on a short squeeze for sure !
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cablemonster
Yeah looks bearish mate. 1.5750 will shirly print this week if we make the new low. Watch for the lunchtime move. Euro looks ready to bust south.
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cablemonster
A lunchtime stop run woukd likely extend to 1.5910 just enough to trip the 200 dma. Interested ti see what happens here. Cus I am sad I monitor the times of day that stop hunts occur 12 to 1.30 london is primetime viewing.
