anyone trading cable 2013 - lets roll

If ever I know what price will do next - I will be sure to, but unlike you, I don't, so I can't - hence I just pose the questions to stimulate discussion for the sake of passing the time between set-ups associated with my edge. I am a tech trader therefore have no opinion - I just trade what I see. Even if I had an opinion - it's as valuable as everyone else's ! I also offer some analysis and discussion of the probabilities given that analysis from time to time from which others will agree with or disagree with (it's not an exact science) and will therefore make their own decisions based on their knowledge/reading/experience/judgement and some may even use an edge.

G/L

BeginnerJoe said:
I wish people would call it out rather than do it retrospectively.
Click to expand...
 
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This thread has been quite enlightening to me so far. I am beginning to understand that it is not about whether you are right or wrong - or trying to be right but about analysing the charts and deciding what is the greater probability of the next price move either a continuation or reversal of the current price move ? - and around that you can build an edge. I am a newbie and so it is like some one just turned on a light. It also seems to me that the worse thing you can do is to think you are right when the market is telling you otherwise - just get out and cut the loss if the market does not back up your analysis. Thanks to everyone contributing even BeginnerJoe who is showing me the way definitely not to do things and think lol ! It is all valuable.
 
chaselancaster said:
This thread has been quite enlightening to me so far. I am beginning to understand that it is not about whether you are right or wrong - or trying to be right but about analysing the charts and deciding what is the greater probability of the next price move either a continuation or reversal of the current price move ? - and around that you can build an edge. I am a newbie and so it is like some one just turned on a light. It also seems to me that the worse thing you can do is to think you are right when the market is telling you otherwise - just get out and cut the loss if the market does not back up your analysis. Thanks to everyone contributing even BeginnerJoe who is showing me the way definitely not to do things and think lol ! It is all valuable.
Click to expand...

You have the right attitude and deserve to succeed(y)
 
bbmac said:
If ever I know what price will do next - I will be sure to, but unlike you, I don't, so I can't - hence I just pose the questions to stimulate discussion for the sake of passing the time between set-ups associated with my edge. I am a tech trader therefore have no opinion - I just trade what I see. Even if I had an opinion - it's as valuable as everyone else's ! I also offer some analysis and discussion of the probabilities given that analysis from time to time from which others will agree with or disagree with (it's not an exact science) and will therefore make their own decisions based on their knowledge/reading/experience/judgement and some may even use an edge.

G/L
Click to expand...

"I just trade what i see"
Whatever that means !
From the moment you enter a directional trade you've made an opinion ,but it doesn't mean that you know where its going next ...
 
chaselancaster said:
This thread has been quite enlightening to me so far. I am beginning to understand that it is not about whether you are right or wrong - or trying to be right but about analysing the charts and deciding what is the greater probability of the next price move either a continuation or reversal of the current price move ? - and around that you can build an edge. I am a newbie and so it is like some one just turned on a light. It also seems to me that the worse thing you can do is to think you are right when the market is telling you otherwise - just get out and cut the loss if the market does not back up your analysis. Thanks to everyone contributing even BeginnerJoe who is showing me the way definitely not to do things and think lol ! It is all valuable.
Click to expand...

Simple textbook 101 stuff but in reality doesn't go like that , when you are wrong ? after it goes against you 1 pip or 100 or ..... ?
 
^ And to add some food for thought: assuming price moved against you, but your call still seems correct, do/should you double up? :smart: :innocent:
 
VielGeld said:
^ And to add some food for thought: assuming price moved against you, but your call still seems correct, do/should you double up? :smart: :innocent:
Click to expand...

"still seems correct" that's the keyword here , as for your other question well it depends on your plan in the first place , ie : some traders may like to risk 2% in one position , others may risk 2% in their overall open positions .
 
VielGeld said:
^ And to add some food for thought: assuming price moved against you, but your call still seems correct, do/should you double up? :smart: :innocent:
Click to expand...

Define "seems correct". If the answer is: I just feel in my bones it's still going to work, then no. You don't double up, and you get out.
 
Go on the Carney ! could be a huge turnaround after that comment !
 
Look out if 78's go thats the daily trend broken to the upside !
 
Cable has been fun and games so far today I've been hard at work reading every useless bit of gossip about Cable along with taking blind note of all the brokers levels from all the FX websites. So here's my support levels for anyone interested.

My plan is very simple, to use all those levels to confuse me so much I end up not knowing whether I'm coming or going :)

1.5700 Arab money bids

1.5697 - 0.25474 Fib level

1.5694 - Trendline support

1.5689 - 0.54785 Fib level

1.5684 - New York bids

1.5681 - Swiss bids

1.5676 - Weekly trendline support

1.5671 - Old high support

1.5667 - Yeserday's low

1.5661 - Goldman bids

1.5657 - Big buyer (unknown)

1.5651 - More trendline support

1.5646 - Uncle Tom Cobley bids

1.5641 - 0.7845875 Fib level

1.5635 - Week low

1.5631 - Jesse Livermore bids

1.5624 - Yearly trendline support

1.5619 - 100% projection from some level somewhere in the past, bids

1.5612 - Hedge fund bids

1.5607 - 240 trend line support

1.5601 - 0.00001 Fib level support

1.5600 - There's normally always bids at 00 aren't there?

1.5599 - There's normally bids at every tick down, aren't there?

1.5598 - See above

1.5591 - Gann line support

1.5587 - Some big trader out of the Market Wizards book, bids

1.5584 - Computer traders bids

1.5579 - Commercial buying

1.5572 - 0.999999 Fib level support

1.5567 - Trade weighted average price divided by any old fib level, bids

1.5560 - Interactive Brokers bid, some punter wants to change up $10,000 into sterling, bid (note, not bids)

1.5554 - Option market maker bids

1.5549 - 0.50 Fib level

1.5541 - Month low

1.5537 - 3 year trendline support

1.5531 - More bids

1.5529 - Pick any random number then call it a Fib level, bids

1.5525 - I'm getting bored! However, I do have bids pretty much every 2-3 ticks lower all the way down to the 1985 low of 1.0345, and note, big stops are rumoured to be sitting below that level :)
 
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Missed the big spike owing to sleep. Could have unwound some and then bought more. It hasn't run away too far. So I am adding lightly.

As it stands, my overal position is -10 pips.
 
chaselancaster said:
Thanks to everyone contributing even BeginnerJoe who is showing me the way definitely not to do things and think lol ! It is all valuable.
Click to expand...

On the interwebs, everyone are experts, including newbs. If things are really that easy, we'd all be rich with no work.
 
BobbyBB said:
Cable has been fun and games so far today I've been hard at work reading every useless bit of gossip about Cable along with taking blind note of all the brokers levels from all the FX websites. So here's my support levels for anyone interested.

My plan is very simple, to use all those levels to confuse me so much I end up not knowing whether I'm coming or going :)

1.5700 Arab money bids

1.5697 - 0.25474 Fib level

1.5694 - Trendline support

1.5689 - 0.54785 Fib level

1.5684 - New York bids

1.5681 - Swiss bids

1.5676 - Weekly trendline support

1.5671 - Old high support

1.5667 - Yeserday's low

1.5661 - Goldman bids

1.5657 - Big buyer (unknown)

1.5651 - More trendline support

1.5646 - Uncle Tom Cobley bids

1.5641 - 0.7845875 Fib level

1.5635 - Week low

1.5631 - Jesse Livermore bids

1.5624 - Yearly trendline support

1.5619 - 100% projection from some level somewhere in the past, bids

1.5612 - Hedge fund bids

1.5607 - 240 trend line support

1.5601 - 0.00001 Fib level support

1.5600 - There's normally always bids at 00 aren't there?

1.5599 - There's normally bids at every tick down, aren't there?

1.5598 - See above

1.5591 - Gann line support

1.5587 - Some big trader out of the Market Wizards book, bids

1.5584 - Computer traders bids

1.5579 - Commercial buying

1.5572 - 0.999999 Fib level support

1.5567 - Trade weighted average price divided by any old fib level, bids

1.5560 - Interactive Brokers bid, some punter wants to change up $10,000 into sterling, bid (note, not bids)

1.5554 - Option market maker bids

1.5549 - 0.50 Fib level

1.5541 - Month low

1.5537 - 3 year trendline support

1.5531 - More bids

1.5529 - Pick any random number then call it a Fib level, bids

1.5525 - I'm getting bored! However, I do have bids pretty much every 2-3 ticks lower all the way down to the 1985 low of 1.0345, and note, big stops are rumoured to be sitting below that level :)
Click to expand...

kinell you must be bored mate. :LOL:
 
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