C
cablemonster
out for +6.7
anyone trading cable 2013 - lets roll
- Thread starter cablemonster
- Start date
- Watchers 11
BeginnerJoe
Senior member
- Messages
- 3,329
- Likes
- 351
Today's major move happened while I slept. Exited for a few minor pips. The trade comprised the 3 called out probing fractional positions and additional main body of the position. I have not been able to attain better than the price mean since I was asleep.
Attachments
C
cablemonster
levels I am interested in the next few hours are 1.5750 (fib/prev SR/orders touted/round number), 15840 (fib/prev SR), 15850 (prev SR/fib/round number)
C
cablemonster
time of day and flow looks like a potential short squeeze could be on the cards
BeginnerJoe
Senior member
- Messages
- 3,329
- Likes
- 351
I hope you are right. I want long.
C
cablemonster
we will see. US data @1.30
C
cablemonster
confirmed short squeeze here coming into data, move doesnt seem to be across the dollar.
BeginnerJoe
Senior member
- Messages
- 3,329
- Likes
- 351
Squeeze me. Short 1.58279.
C
cablemonster
i have got my new hiroseuk account open, looks good with 0.9pip spread on cable, I noted that for around 5 seconds during that last data release the spread widened to around 5 pips, not that I enter during data but very occassionaly. I get out during data.
C
cablemonster
no real sizeable reactio in cable to that data therefore the expecting the short squeeze to continue here
C
cablemonster
C
cablemonster
watch it spike to 40
BeginnerJoe
Senior member
- Messages
- 3,329
- Likes
- 351
That looks like bookie shop spread. I pay 1.5 to 2.
C
cablemonster
it is a bookie in the sense that it is a dealer based broker, so you can only take prices. it's not a spread bet account though. the lowest spread bet account I have seen on cable was CMC a while back @0.9 but I think that has gone now. The larger spread bet players like IG/Capital give 2 pip spread.
C
cablemonster
the london boys have not been fed their stops today yet, they are currently very hungry.
BeginnerJoe
Senior member
- Messages
- 3,329
- Likes
- 351
I have just checked, IG spread is 1. This is how I know what you got there is a bookie shop spread. Normal broker spread is higher I think unless you have a large account.
C
cablemonster
Check the IG spread again BJ you will see it alternates between 1.0 and 2.0, what you will find is that you will always be quoted 2.0 when you are looking to get out of a trade. A dealer model broker is what it is although they come in varying shades of shadiness (if you get me).
If you have a large account and your trade size is small (say under 1m a clip) then you can trade cable for around 0.5pip spread with around 0.1pip extra in commission for any sort of volume. What's more the spread will often be tighter and can be negative. See attached screenshot of inverted spread on cable (integral platform). morgan stanley and citi on the inside quote.
its a case of finding the right solution for your trading clip size/account size.
Attachments
C
cablemonster
$1.5850 Medium offers/Mid East supply noted
BeginnerJoe
Senior member
- Messages
- 3,329
- Likes
- 351
What size account do you need to get access to the order book ?
C
cablemonster
no order book exists BJ. banks know their customers orders and may share with each other 'allegedly'. MNI offer live order info via their contacts with bank traders. costs £175pm for full version or get free cut down version with a saxobank demo account. You might wonder why a bank trader would give information to someone at MNI, there may be a number of reasons for this usually revolving around money.
MNI offer a free 1month trial for the full version.
