Currency trading (Oct 16th > 20th)

[dc2000]

we could have a poll on what crimbo presies we would like from our brokers

 

[ChowClown]

...i might get a Woolie's cracker from mine...if i'm lucky

 

[dewi141]

hi wasp

I am one of the lurkers (as you accurately put it), and have finally decide to post my first entry (very exciting).
I've found this thread very interesting and thanks to all for contributing

I jsut wondered whether any of you use point and figure charts when trading cable, and if not, whether you have never looked at it, or have examined it and decided not to use it (and if so why).

cheers

 

[wasp]

Hi dewi141,

Welcome to the board/thread... How long have you been at it or are you new to this whole trading malarky?

Personally, never looked at a P&F chart in my life and wouldn't know where to start so I'm afraid can't help you there... You probably need one of the older guys like DC

 

[Offshore Trader]

Hi Dewi141

Welcome

Seen P&F charts but have never had anyone give me a plausible explanation of their value. Just my opinion, as some people think they are the dogs whatsits

 

[trendie]

hi dewi141,
welcome.

have looked at p/f. rejected them fairly early on.
they are good at identifying support and resistance, by the way they are constructed.
but you lose the time element. (how long it took to rise, and how long it took to fall, etc )

there is too much info that is lost, in comparison to candlesticks.

do you use them? if so, hope you can add your dimension with a few calls and analysis.

 

[dewi141]

hi

ive been trading for a couple of years - mostly cable, ftse and sterling 3m int futures.
I have decided to give it a go full time (concentrating more on cable) so we'll see how it goes.
waht about you?

cheers

 

[wasp]

First experience in the mid 90's then other things took over but always sat in the back of my mind.

Got back into it a couple of years ago and properly got myself together 6 months back and now been confdently/consistently profitable since August.

Long old slog at times but like woolworths, its well worth it!

(Now just need to practise my humour!)

 

[ChowClown]

Hi Dewi141,

pnf has been a fascination for a couple of years, but i've yet to develop a belts and braces trading plan around them. The derivation of targets pnf charts provide can be spooky at times, but like Trendie says, i find losing the time element 'worrying'. Each to their own.

Good luck with your cable plan.

 

[beauty1]

Algorithmic Trading advisors (aBout 1000 %)

Hi,

I am ralf from germany. Can anyone me say here if he has heard from the fund or club "Algorithmic Trading advisors". He has had in 2005 a great performance about 1000 per cent. Is it a honest investment or what do you mean? its bad to improve.

Sincerly

Ralf kasper aus germany

 

[ChowClown]

...here's one for the archives, what a beauty...

 

[dewi141]

hi cc,

yes im still finding my way with pnf (still mostly trading s/r, ma etc) but i feel the answer is in there soemwhere - I just need to find it!
good luck to you too.

 

[ChowClown]

..small profit on the day. One step closer to that cracker!

 

[dc2000]

beauty1

Wo unterschreibe ich?

Welche Medikamente nehmen Sie?

 

[ChowClown]

...let me guess, where do i sign and what are you on?

 

[dc2000]

Kaching you win the toaster

 

[ChowClown]

will be looking for a better price later to jump back on long 619 would be nice but 584 better on the overnight

...much change on the zones since your post, DC?

 

[dewi141]

hi o/t, trendie

thanks for your replies and welcome

I take on board teh comments re losing the time element, but i still think they are useful (for now anyway), so i will throw in my observations (and trades) as and when app

cheers

 

[Uphios]

If the low on the 4 hr bar that started at 12:00 holds until 20:00 and if cable doesn't move too much higher than where it is now (.8675) then the bar that opens at 20:00 would indicate a short for me with a span of about 100 points so a target around .8575. Enough if's there to not jump the gun but I will watch and wait.

 

[KTD]

Added a short @ 1,8710 - target 1,8680 = 30 pips, total with prior = 40+30=70

correction to prior short position, 40 pip gain target.


Motivation is still the CPI numbers from the US. Short Range trading.

Gained 60 pips, aming at anoter 10 before closing time, - CPI number strategy worked like a charm.