Currency Trading (Nov 13th > Nov 17th)

[ChowClown]

Baruch... if I got the Big Ben .pdf right, it gave a 9005 area short this am, and first profits could be banked now (8965 area). Stops would be trailled. Gotta love the simplicity.

There are several of us here that trade variations of Big Ben and personally I have yet to trade a more effective intraday strat on cable.

 

[Baruch]

Im not saying you are wrong. guess its the pips that counts, and nothing else. there are different ways of seeing it.

guess in cases like theses we are seeng a sterling play and not a dollar play, so on that front, you are right, cable can stand on its own. look at gbpjpy. however, at some point, cable will come back to be a dollar play, when eurodollar becomes a clear dollar move.

probably didnt explain it properly before.

And Im not saying you are wrong. Before I used to follow euro, and only trade when euro confirmed cable, and vice versa. The result? That I missed some good cable moves, or came in late. Another thing: It's more easy just to follow one pair.

But I follow T-notes futures with US news to confirm the trend.

 

[Baruch]

There are several of us here that trade variations of Big Ben and personally I have yet to trade a more effective intraday strat on cable.

If any here has a better intraday method, please let us know.

 

[Offshore Trader]

Was there a spike down just after 11? Just been away and some of my graphs are showing a spike but others not. If there was, where do you see the low?

 

[ChowClown]

..low of 8964.3 around 11am on Oanda mate.

 

[jacinto]

Was there a spike down just after 11? Just been away and some of my graphs are showing a spike but others not. If there was, where do you see the low?

same as you. one low at 40, another low at 8900!!!, the other at 62

crazy

 

[ChowClown]

...which chart(s) guys?

 

[JER08]

There's a spike low at 8900 on my CMC chart, good job I am not long.

 

[Offshore Trader]

Well IG Index refused to fill my limit at 07. They say the spike was caused by an incorrect feed from UBS. A lot of brokers use feeds from a small number of major banks rather than dealing directly off the market (i.e. Reuters Direct dealing and EBS), so there excuse is plausible, even though before I identified myself they told me their low was 1.88985!

The fact that Oanda doesn't show it at all, suggests to me that their excuse may be valid. If I'd been long it would have been interesting if it would have been filled.

 

[Baruch]

There's a spike low at 8900 on my CMC chart, good job I am not long.

There was a few seconds when the price suddenly showed 18922-26 on my screen. I don't know why. Stop hunting? Can't see the spike on my charts.

 

[jacinto]

...which chart(s) guys?

62 are intebank and acm, 40 saxobank, the 8900 dont know, just asked a mate.

 

[JER08]

It's happened before on other pairs as well, last time I was in a losing position and it spiked pass my stop by some 100 pips(not on NFP), checked with Oanda no spike, later CMC assured me order won't get filled.

 

[edu]

Using TradeStation here... and no spikes. Low of day so far was 8957 11:21 gmt

 

[Offshore Trader]

City Index, like Oanda have no spike at all , so I am prepared to believe that it was an incorrect feed as opposed to a trade which really went through the market

 

[edu]

Yes, it's simple, but it works...

I like simple!

There are several of us here that trade variations of Big Ben and personally I have yet to trade a more effective intraday strat on cable

Chow... I see you doing pretty well here.
I´ll start following the method on a daily basis to get the "fell of it".
I personally am used to smaller stops (15 to 30 pips) but could just reduce size or find tighter entries. Like today we had a 1min inside bar just at entry level...

 

[Baruch]

I know that the original Big Ben rules says a 40 pips stop, but I think that a 30 pips stop works very well. Why risk more?

 

[ChowClown]

I like simple!


Chow... I see you doing pretty well here.
I´ll start following the method on a daily basis to get the "fell of it".
I personally am used to smaller stops (15 to 30 pips) but could just reduce size or find tighter entries. Like today we had a 1min inside bar just at entry level...

..tweak to suit your style et voila. Good luck with it.

 

[Offshore Trader]

Stopped out before the figs at +20

 

[ChowClown]

..me too.

 

[Offshore Trader]

Small long at 10 after figures stop now at b/e. Will run to later today unless stopped in which case I'll call it a day