Cable 2010

[Alexbabwa]

short at 40

this is going to be a long trade...

stop breakeven

stopped

 

[bedsit]

I've done some scalping - a bit of an experiment. I'm surprised - it's not that stressful at all.
I put really small stop (I'm using 5m chart), if it gets hit not a big deal. I close 1/2 of the position once that is enough to cover the stop and go for a free ride.
Only thing I have to follow the price action and enter at every opportunity.
So far so good today - the wins overwhelmed the losses

 

[Alexbabwa]

short at 60. you changing your strategy then bedsit? i used to scalp with shorts and longs more enjoyable i reckon.
out +20 and up for the day it seems the more time i have the better i perform

 

[bedsit]

I would try to mix it a bit with trend following - for example if scalp goes ok would let it go for as long as pos.

I like the idea of free rides. Like that recent up move - I closed 1/2 of the position to cover stop and afterwards couldn't care less - it was almost like paper trading (complete emotional detachement from the trade)

I noticed in scalping I have to be extremely disciplined - accept any losses as soon as stop is hit and look for another opportunity.

 

[Alexbabwa]

seems to be range trading for now, i love it when its like this, caught some of the last long and waiting for a second chance to short at 60

short again at 60

bah stopped - 20

long 50
out +9

 

[bedsit]

I've got 20 from that break out
I'll leave it for today

 

[Alexbabwa]

good week so far, looking to short near 520

long at 502 out +7 pips, possible double top here expecting trend reversal, looking for short

short at 15 stopped out -20

 

[bedsit]

a bit late entry
long 010 looking to hit R1 (030) at least

 

[Alexbabwa]

that was a nice quick trade for you

 

[bedsit]

that was a nice quick trade for you

I closed only 1/2 of position - trying for more or b/e

PS or if this last candle stays spiky may close the rest without waiting for stop to get hit

 

[Alexbabwa]

very spikey on 15min, overbought, resistance from march 9th, fundamentals still favour the dollar?

 

[bedsit]

Only thing 4h, 1h and 15m are in up trend.
I started late today, but when I saw all the up trends got in long without too much thinking.

But for the short time (15m candles), looking for a pull back.

 

[bedsit]

No pull back at the moment (went through spiky's candle high)

out at 060

 

[JER08]

bedsit: hope you still long on your remaining half.

 

[bedsit]

bedsit: hope you still long on your remaining half.

I got out at 060 - may go further, but I'll wait for a pull back (if any)

 

[JER08]

well done, it'll pull back, it always do.

 

[bedsit]

No set up for me at the moment.
I can see few things on the way up: 50% Fibbo (180) down move from 23Feb - 1Mar, R2 (175) and 8Mar high 196.4. Well if it goes through all that, I would expect it to go some way up.

Waiting for a short

PS still waiting - if nothing happens, doesn't matter - don't have to trade every day.

 

[Alexbabwa]

long 130
out +5

 

[Alexbabwa]

long 160

stopped -20

 

[User]

Although the GBP rallied on Thursday and Friday - it has significant issues with 152-15236. Downward trendline from 2010 hits this area, resistance in flat line form hits this area and also this is a gap down region from two weeks ago. So all ties in with big resistance. Failure to deal with this results in no upside significance at all. We remain in a sideways range for the past two weeks and nothing has changed yet.