Best Thread Live Cable Trading

[JonnyT]

I am a little confused as to how you guys trade BB. Do you take the 7-8 range and trade the breakout after 5 pips either side of the channel?

I have done a lot of testing on just such a strategy and other breakout strategies.

I have never found in all my backtesting any benefit from adding points/pips to the breakout point. In every case it has been to the detriment of the method.

Just my thoughts.

JonnyT

 

[Kaffee]

I have done a lot of testing on just such a strategy and other breakout strategies.

I have never found in all my backtesting any benefit from adding points/pips to the breakout point. In every case it has been to the detriment of the method.

Just my thoughts.

JonnyT

?? Has to be some degree of over/under otherwise how you do classify it as a breakout ??

 

[Cableguy]

?? Has to be some degree of over/under otherwise how you do classify it as a breakout ??

Maybe for Big Ben, we know the move will be significant. But for smaller breakouts a filter + spread could lead the way to a loss. I'm sure the rules for JT's backtests would have shown the smaller breakouts more profitable without a filter - as the filter is afterall a percentage of the breakout itself.

Just my thoughts

CG

 

[Kaffee]

Maybe for Big Ben, we know the move will be significant. But for smaller breakouts a filter + spread could lead the way to a loss. I'm sure the rules for JT's backtests would have shown the smaller breakouts more profitable without a filter - as the filter is afterall a percentage of the breakout itself.

Just my thoughts

CG

But my point is... It's not a breakout until it goes beyond the previously determined range. So any breakout strategy is the degree to which it goes outside the range before you get on it.

 

[Cableguy]

But my point is... It's not a breakout until it goes beyond the previously determined range. So any breakout strategy is the degree to which it goes outside the range before you get on it.

I totally agree with you, and I agree with JT. I use a filter myself but can agree with JT as sometimes the filter isn't a good idea - yea again, probabilities...

 

[JonnyT]

I totally agree with you, and I agree with JT. I use a filter myself but can agree with JT as sometimes the filter isn't a good idea - yea again, probabilities...

Loook at this this way.

If you set a BO + 10 pips and this stops 20% of false BOs, you have lost 80 pips on the correct BOs. That would allow 2 false BOs with 40 pip stops.

In practice I reckon the number of BOs that are false within this sort of parameter are < 10% and not 20%

Just an example.

In my view if you are going to be mechanical you simply have to take the BO.

JonnyT

 

[Baruch]

I am a little confused as to how you guys trade BB. Do you take the 7-8 range and trade the breakout after 5 pips either side of the channel?

I go short/long when it breaks the first support/resistance. It's very simple - and very profitable.

PS. I could like to get a automated trailing stop. Then I would only have to work one hour per day... :cheesy: Any brokers which provide that?

 

[Kaffee]

I go short/long when it breaks the first support/resistance. It's very simple - and very profitable.

PS. I could like to get a automated trailing stop. Then I would only have to work one hour per day... :cheesy: Any brokers which provide that?

IB do apparently, so I've learnt today.

 

[Kaffee]

Cables' all over the place at the minute !

 

[ChowClown]

I go short/long when it breaks the first support/resistance. It's very simple - and very profitable.

PS. I could like to get a automated trailing stop. Then I would only have to work one hour per day... :cheesy: Any brokers which provide that?

FXCM have trailing stops. Don't know of any SBs that have them.

 

[dc2000]

So have I but I didnt post it live, so it doesnt count

Its money in the bank that counts Zuke if you say you got some thats good enough for me

As for Big ben as JT says breakouts dont work over the long term there has to be another part of the equation

 

[Kaffee]

Its money in the bank that counts Zuke if you say you got some thats good enough for me

As for Big ben as JT says breakouts dont work over the long term there has to be another part of the equation

For markets to move anywhere, there has to be breakouts - dy definition.... Trick is to identify the S & R points .

 

[Baruch]

IB do apparently, so I've learnt today.

Thank you. Nice to know.

 

[Baruch]

For markets to move anywhere, there has to be breakouts - dy definition.... Trick is to identify the S & R points .

Yes, and know when to expect those breakouts. The Europe opening and after big news are the best time to trade those breakouts. At these times there are not so many false breakouts.

 

[Baruch]

Its money in the bank that counts Zuke if you say you got some thats good enough for me

As for Big ben as JT says breakouts dont work over the long term there has to be another part of the equation

Yes, please tell os about the "another part of the equation"... :?:

 

[Kaffee]

Yes, please tell os about the "another part of the equation"... :?:

So are the FOMC minutes a "mover" ?

 

[zuke]

I have done a lot of testing on just such a strategy and other breakout strategies.

I have never found in all my backtesting any benefit from adding points/pips to the breakout point. In every case it has been to the detriment of the method.

Just my thoughts.

JonnyT

JT, whats your experience with IB? Im thinking about a move from Oanda. Do they do trailing stops? Thanks

 

[JonnyT]

IB do Automatic Trailing stops but I don't think this applies to IdealPro Forex.

Either that or I haven't worked out how to do as I never use trailing stops!!!

JonnyT

 

[coolTrader]

So do we have any opinion as to where cable is going?after the interest rates

 

[Baruch]

So are the FOMC minutes a "mover" ?

Yes, very much - but which way? I don't know.