Cable 2010

[temporarilylight]

long 1.5689 - 15 pip stop

 

[Vaco]

i've just reversed short 5696 stop 5709 looking for the bottom of this weeks range now, can't see a breakout from the range weve had over last week, not to the upside at the moment anyway.

 

[bedsit]

IMO still downtrend, but I'm not trading. Today can afford only one more loss, so I'll wait for NY to open.

BTW What's your target Vaco?

 

[temporarilylight]

long 1.5689 - 15 pip stop

stopped -15

 

[Alexbabwa]

short at 700

 

[Alexbabwa]

closed at 78 for 22 pips, i like the quick trades. Time for food

 

[bedsit]

closed at 78 for 22 pips, i like the quick trades. Time for food

What a lovely trade Alex

 

[Alexbabwa]

Thanks, i also shorted at 714 this morning, but while the price was just above the pivot i moved my stop to 94 and waited to get stopped out. I noticed you posted a similar trade but got out near the pivot. Did you think it was going to bounce off the pivot?

 

[bedsit]

First trade stop was above today's high. Must say second trade stop was rubbish and just a guess.
BTW You could have taken more pips, but I would do the same +22pips in a minute is enough IMO.

 

[Alexbabwa]

The temporary support around 670 had me wary, usually we see a bigger range than this by midday. Now it would seem its going to break down through the pivot

 

[bedsit]

Broke through the pivot 5pips (previous 15m candle). It is a downtrend. May wait for a pull back and enter short (unless it's a massive pull back) Don't favour break outs today (PA quite choppy).

PS I'll wait till 14:15 (see how it goes through NY open). It's been indecisive for the last hour.

PPS A nice move down - got a bit of profit. Now may wait for a change in a trend.

 

[bedsit]

May go for a speculative long (with tiny stop) based on daily range and spiky 15m candle, unless price goes below the low of spiky c.

Long 636 stop 625

 

[Alexbabwa]

Still long bedsit?

 

[bedsit]

Still long bedsit?

Sorry Alex - I was asleep - woke up early this morning.
Just got out at +55

Well, could have waited a bit - anyway shouldn't complain - more than 10% gain today
If I was not trigger happy could have been extra 50pips in last 10min

 

[Alexbabwa]

big move up at the end of london session. I just shorted at 734. Really dont want to wipe out my pofit after such a good day but im thinking medium term trend is down and 750 has been tested as good resistance a few times.. stop at 780

 

[bedsit]

I can see high on daily charts at 765.1. I would like a short, but with a smaller risk (when catching tops and bottoms I prefer small stops)

May stop at R2 775

Short 765 stop 783

out -18

 

[Alexbabwa]

nice position, great patience. Hope cable doesnt break up or i will feel like a rookie once again

 

[bedsit]

I went through this experience before - lost a lot of trades trying to catch tops and bottoms.
Because of that very rarely do that nowadays and only with smallest possible stops.

 

[Alexbabwa]

Managed to wipe out the days profits, dissappointing. The worst part is i dont see where i went wrong. I take it you tend to buy or sell late into an intraday trend?

 

[bedsit]

Alex,
IMO maybe your stop was too big. Catching bottoms and tops is highly speculative (trading against the trend). I tend to reduce size and put tight stops for these sort of trades. Also I wouldn't go for second one if the first doesn't work.
Do you have rules regarding max risk per trade?

Most often I trade with a trend - trying to catch it at an early stage (as early as pos)

PS today i made some good trades, but didn't let my profit run (trade where I cought the bottom) - which is quite a mistake: exit at 691 instead of 791 - that's 100 pips extra if I was more patient.