Best Thread Live Cable Trading

[TheBramble]

How did you arrive at your range?

Take the Frankfurt Open (I use the close of the 5min 06:00 bar - that's the one that closes AT 06:00). Take the London Open (I use the close of the 5min 07:00 bar - that's the one that closes AT 07:00). That's my central value or pivot point.

Add 32 pips to the highest of the two levels. That's my upper level.

Subtract 32 from the lowest of the two levels. That's my lower level.

If the inner range (Frankfurt/London 'opening' levels) are a reasonable pip distance apart (e.g. greater than 15) then they are considered a potential range in their own right. Though I rarely trade them this way. (Not normally enough to meet my R:R).

I normally trade the Upper and Lower levels as a range (it's as good as any) and of course, any confirmed BO from them

The inner range (or level as it has been recently, very narrow) is viewed as a potential S/R.

hth

NB All times are GMT

PS I'm a realtive newbie to FX so take all of this with a pinch of salt.

 

[TheBramble]

It's had a few attempts at getting through the 389 level. Unless it pushes through on the next attempt, I'll exit the whole position.

Direction is one thing - time is quite another. They both have to be in your favour.

 

[wasp]

Why the move into FX then TheBramble?

Are you trading anything and everything now or concentratining on FX alone? I only ask since to me it makes more sense to find a market you like and fits around you and learn it completely. Personally, I wouldn't contemplate something like US stocks as I wouldn't know where to start and have only just learnt how cable moves! sort of!

 

[TheBramble]

I trade the US which used to suit my schedule and other projects I had on the go.

Now, I find I have spare capacity in the early mornings (GMT) and quite enjoy the challenge of trading a market which effectively has no volume data. Volume is a BIG determinent for me on the Stocks side.

I feel the potential for cross-fertilisation on anything like this is enormous. I probably wouldn't have considered another radical market if I weren't totally comfortable with what I'm doing in the US.

I rarely trade anything other than Cable on the FX side and then, not normally much after the US opens.

 

[zuke]

Morning all. I am LONG 5 lots 426 looking for 40 pips and with stop at 396

 

[zuke]

Morning all. I am LONG 5 lots 426 looking for 40 pips and with stop at 396

I love it when a plan comes together 😆 Scale out 3 lots for +40 pips. Stop moved to break even. 2 lots running to 525 or b/e.

That's me done for the rest of the day.

 

[zuke]

I love it when a plan comes together 😆 Scale out 3 lots for +40 pips. Stop moved to break even. 2 lots running to 525 or b/e.

That's me done for the rest of the day.

Closed out remaining 2 lots @ 523 for +97 pips 😆

 

[darktone]

bloody hell!..... we have a 200pip day and hardly a post!?? thought the 5 min boys would have had a field day with this!..

well done btw zuke... nice! 😎

 

[TheBramble]

Not exactly busy, but have sat through (and still with ) the Long I took when it broke up through the 7405 level at 09:15. Will exit at 7526 if it falls that far, otherwise I'll stay with it.

Not so much not wanting to crow, but it's bit a little busy in the US today..... 🙄

 

[TheBramble]

Out at 7536. Not keen on over-nighters and the time energy has dissipated.

 

[TheBramble]

A New Day and a New Dawn. Clear the slate.

 

[TheBramble]

FX Options Pricing

Just finished researching vanilla and exotics on Cable and there appears to be a significant bias toward the downside.

If anyone uses these instruments on a regular basis, could they check my take on this and either confirm or correct my position.

Cheers

 

[7thSignalTrader]

Wow. Very informative thread.

 

[trendie]

hans123 appers to have redeemed itself to close Feb small loss or slightly up.
However, a guy called silverrex has a variant that may have a smoother equity curve.
am trawling through their psots to find the differences.

 

[Kaffee]

hans123 appers to have redeemed itself to close Feb small loss or slightly up.
However, a guy called silverrex has a variant that may have a smoother equity curve.
am trawling through their psots to find the differences.

Don't bother.... in a nut shell:- Bigger filter 13 pips. Does not take on the opposite breakout, instead uses it as a hard stop and shuts down operations for the day.

AND.... closes when the overall system is 150 pips up on the day. Oh, plus he uses his discretion following the 1st hour of New York.

Nearly as confusing as Big Baruch. !!! 😉

 

[zuke]

Don't bother.... in a nut shell:- Bigger filter 13 pips. Does not take on the opposite breakout, instead uses it as a hard stop and shuts down operations for the day.

AND.... closes when the overall system is 150 pips up on the day. Oh, plus he uses his discretion following the 1st hour of New York.

Nearly as confusing as Big Baruch. !!! 😉

I thought the whole point of a system was to keep discretion to a minimum?? :cheesy: Thats why I cant trade the Big Baruch :cheesy:

 

[JonnyT]

The whole point of any system is to have zero discretion full stop.

 

[Kaffee]

I thought the whole point of a system was to keep discretion to a minimum?? :cheesy: Thats why I cant trade the Big Baruch :cheesy:

Exactly. I have yet another post it on my monitor that says "I am not a discretionary trader". Big Ben made me a few pips in January. Thought to myself, I can do this now, I'll pick and choose what breakouts to take on..... Couldn't have been worse in Feb if my kid had been placing the trades to be honest !!

So I'll stick with putting the orders in, having the drawdowns and working on the law of averages.

 

[neil]

Whippy Cable ?

The followers of Asian breakout and mini Ben ? probably found today trying ? 😉

5 minute chart:

 

[Baruch]

The followers of Asian breakout and mini Ben ? probably found today trying ? 😉

5 minute chart:

Here is another one: The London Midnight Express:

http://www.accrete.com/fx_gbp/