Best Thread Live Cable Trading
eatontrade
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eatontrade said:
Moved stop down to breakeven as heading out. Good luck/trading everyone
coolTrader
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I tend to stay away from gbp false moves when the dollar is saying something else. Dollar index is currently up Eur and Chf down against the dollar and yen down as well. How long will cable hold.it may just be choppy for a while yet.
Newtron Bomb
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as i said the video is in the articles section here on this site
Newtron Bomb
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one of the things that strikes me from reading back through a few pages of this thread is a kind of yo yo effect that traders go through.... it going up buy its going down sell and this gets repeated until youve got a heft loss for the day.
I have said time and time again to various traders across the globe that you should not just trade you prefered pattern or entry method but look at where they are happening.
For example there are lots of 123 pattern throughout the day across all the main pairs some fail some dont some go into profit some go into profit a little and turn.
Why do the ones that win, win and the ones that loose, loose?
The answer is timing. Look at where the pattern develops. It could be on a TL or a fib or pivot etc etc. So on the surface a good place to take a trade on. but it still busts out.
Look for where a couple of these S/R levels come together with 10-15 pips of each other and then see what develops at those levels... continuation pattern or reversal pattern and then get on it.
Why does the strike rate go up when you do this?
Simple more people looking at these levels.... each S/R tool is a group of trader be it pivots fibs RN gann and so on. When you have one or two groups of people looking at a level to trade it will increase teh chances of success when you have 3 or more groups of traders there (in theory) should be more traders pumping money into the market as they do so they develop contiuation or reversal patterns which we mear mortals can jump on with a high degree of success.
This sounds a rather simple concept in looking for high prob trading zone other will call it a confluence of events other call it doing your homework it all amounts to the same thing.
Wait for a decent set and dont jump on every thing you see or dont see in some traders cases.
I have said time and time again to various traders across the globe that you should not just trade you prefered pattern or entry method but look at where they are happening.
For example there are lots of 123 pattern throughout the day across all the main pairs some fail some dont some go into profit some go into profit a little and turn.
Why do the ones that win, win and the ones that loose, loose?
The answer is timing. Look at where the pattern develops. It could be on a TL or a fib or pivot etc etc. So on the surface a good place to take a trade on. but it still busts out.
Look for where a couple of these S/R levels come together with 10-15 pips of each other and then see what develops at those levels... continuation pattern or reversal pattern and then get on it.
Why does the strike rate go up when you do this?
Simple more people looking at these levels.... each S/R tool is a group of trader be it pivots fibs RN gann and so on. When you have one or two groups of people looking at a level to trade it will increase teh chances of success when you have 3 or more groups of traders there (in theory) should be more traders pumping money into the market as they do so they develop contiuation or reversal patterns which we mear mortals can jump on with a high degree of success.
This sounds a rather simple concept in looking for high prob trading zone other will call it a confluence of events other call it doing your homework it all amounts to the same thing.
Wait for a decent set and dont jump on every thing you see or dont see in some traders cases.
dc2000
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Ah found it I couldnt see the wood for the trees
http://www.trade2win.com/knowledge/articles/general_articles/60-minute-asian-breakout/
http://www.trade2win.com/knowledge/articles/general_articles/60-minute-asian-breakout/
trendie
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how do you code "support" and "resistance" ?
how would you define it in programmatical terms ?
would JTs B/O back-test produce more favourable results if accounted for S/R levels ?
would hans123 profit levels be smoother if previous recent highs or lows were targets ?
how would you define it in programmatical terms ?
would JTs B/O back-test produce more favourable results if accounted for S/R levels ?
would hans123 profit levels be smoother if previous recent highs or lows were targets ?
Newtron Bomb
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trendie said:
Cant specifically answer these questions as am not upto speed with coding or the latest spin off of these set ups.
The best blind breaks will happen when there is the potential for the market to move. So if there has been a narrow range say 50 pips on cable the average days range is 150 pips so you, in theory, have a 100 pip profit potential.
IF the range in the given time frame is 100 pips as it can often be during an overnight trend you now have only 50 pips profit potential compared to the average days move. and teh chances of a UK range are increased.
also trading with teh trend can increase your potential... simply put if yesterday is a down day you are looking for follow through... reversals of the asian highs and break outs off the asian lows and vies versa
simple
NB
mark twain uk
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added to my long at 386, beginner's luck or brilliant strategy? easy answer here
