Best Thread Live Cable Trading

[jezza888]

Certainly looking that way, we're going nowhere at the moment...

are you in at the moment Jonny?

 

[trendie]

there isnt any economic news that everyones waiting for, is there ?

 

[jezza888]

Don't know, not looked but nothing seems to be pushing this either way...

 

[JonnyT]

There's a couple of US ones at 3pm this afternoon, including consumer confidence.

Mondays are normally less range than other days of the week in any case.

PS I'm flat.

JonnyT

 

[Kaffee]

There's a couple of US ones at 3pm this afternoon, including consumer confidence.

Mondays are normally less range than other days of the week in any case.

PS I'm flat.

JonnyT

I thought those figures were out on the 25th ??

 

[thomasdevos]

Have a look here

http://www.bloomberg.com/markets/ecalendar/

 

[jezza888]

Short at 1.7672
Stop at 1.7692
Target at 1.7600 (although indicator for actual)

Out for breakeven again...

And long at 1.7680 (20 pip normal stop)

__________________


MONDAY... -20 / -10 / 0 / 0

 

[jezza888]

The problem with this indicator system is its always in and out and straight back in again and on days like today it offers so many trades you spend the day chasing costs and spread to make up.

 

[JonnyT]

As it stands Jezza is -30 and I'm -25 from a single trade.

Very very low range day so far.

JonnyT

 

[jezza888]

Its not even broke more than 30 pips either side of the open/close.

 

[YachtFund]

IMHO indicators dont really work on days like today have you seen the gimmie bar system?

 

[jezza888]

Don't know the gimmie bar system?

The point of the indicators is regardless of the type of day, it will still work just as well as price alone.

Seeing as Jonny, who I know is price based, and this system has produced near equal losses so far today, theres not much in it.

 

[trendie]

Jezza,

have same experience as you regarding indicators.

I get round it by only taking signals when the range over X bars is greater then, say, 100 pips.
Otherwise, you are getting oversold and overbought signals in a tight range, and as such, the signals are meaningless.
So, if the range contracts below a certain value, I cancel all signals, and await for a breakout.

Then I lose money by being faked into the wrong direction !!!!

 

[YachtFund]

http://www.trading-naked.com/JoeRossGimmeeBarSetup.htm

 

[jezza888]

I'm trying to take every signal it offers as it does not know the future and therefore it will take the rough with the smooth. The bigger picture will come at the end of the week as the good days will overshadow the bad (in theory).

whether you trade price or indicators, neither is perfect and 100% so its all down to following the system and seeing the P/L come Friday...

 

[JonnyT]

Jezza,

I've had 5 signals today but have decided to stand aside.

All 5 signals gave 15 pips plus opportunities, the one I took was 20 pips late as I got up late!

JonnyT

 

[jezza888]

And if I hadn't closed my chart by accident I would have +20 instead of -20 on my first trade, but the if's and but's don't show up in your trading balance!!!

 

[YachtFund]

I see a range between 1.77-1.7687(ish) as resistence and the 100 wma as support or 1.7635. The 20wma is also acting as S/R (WMAs on the 1hr) which is charging right through the middle. Is this about right?

 

[JonnyT]

Its only traded between 1.7650 and 1.7701 today, i.e. around 50 pips.

JonnyT

 

[YachtFund]

Getting ahead of myself. Is a flag forming? Therefore a down move should be due?