Best Thread Live Cable Trading

In my humble opinion I think it has some down side to go.

I'm looking to re-enter long at around 485-500 in the hope it will retest the recent highs.

Decisions based on a median grid trading system I'm trying out..
 
lachie said:
In my humble opinion I think it has some down side to go.

I'm looking to re-enter long at around 485-500 in the hope it will retest the recent highs.

Decisions based on a median grid trading system I'm trying out..
Click to expand...

I agree that down seems more likely.
I also suggested 485 earlier today, based on upward channel. ( at last, someone who agrees with me on a forecast. 🙂 )
the 14:00 bar is merely a curiosity that I am forward-observing.
( anyway, 2 reversals at 14:00 out of 3 so far, not bad. )

can you elaborate this grid, or is it secret ?
 
counter_violent said:
Would that be "Bird Watching in Lion Country" by any chance ?

C V
Click to expand...


It would be.. I really enjoyed this book and have had success using his system so far, though I haven't been using it long but I intend to try it for a while.

Have you read it?

If yes what did you think?
 
Last edited:
lachie said:
It would be.. I really enjoyed this book and have had success using his system so far though I haven't been using it long but intend to try it for a while.
Click to expand...

Yes good solid observations he makes. Particularly useful if you have other edges to incorporate into your personal trading methodology.

Good luck with it.

C V
 
On my calculation mechne....1.7505 have big power to UP....but the mini elliotwave have one move at 1.7486 from 1.7618.
So....BUY at 1.7505 TP 1.7567 SL 1.7470.
What do you think??
 
trendie said:
I agree that down seems more likely.
I also suggested 485 earlier today, based on upward channel. ( at last, someone who agrees with me on a forecast. 🙂 )
the 14:00 bar is merely a curiosity that I am forward-observing.
( anyway, 2 reversals at 14:00 out of 3 so far, not bad. )

can you elaborate this grid, or is it secret ?
Click to expand...

Median grid system is from this guy in his book "Bird watching in lion country"
http://www.dayforex.com/

Basically on a 1 hour chart with around a months data draw in major support and resistance around 300-400 pips apart then a range in the centre of that (the median). His theory is that the price with revert to the median with time and uses this to time trades. He recommends low gearing, which allows large stops and only taking entries in the direction of the trend. It's a 200 page book so there is obviously more to it than that, but it is a quite simple less stressful system.
 
Kaffee said:
Range today about 85 pips ..... pathetic.

C'mon cable... a few weeks of 150+ per day would be luverly.
Click to expand...

Ask and ye shall receive !!! Anyone want this weeks lottery numbers while I'm at it ?? 😉
 
has anyone noticed the steady trickle of Market Matrixes for sale ?
I am sure there has been at least 3 over past few months.
(didnt want to post this on actual "For Sale" thread, so as not to spike that thread)
 
trendie said:
has anyone noticed the steady trickle of Market Matrixes for sale ?
I am sure there has been at least 3 over past few months.
(didnt want to post this on actual "For Sale" thread, so as not to spike that thread)[/
Click to expand...
If you used MM yourself trendie, you'd know that was precisely the number you could have expected to date.
 
That huge Euro option which appeared to cap Euro at 121 yesterday has 2 sides
118-121 Euro as I type 11950 (middle of option)
It is rumoured to expire 9th March
 
mickandpete said:
That huge Euro option which appeared to cap Euro at 121 yesterday has 2 sides
118-121 Euro as I type 11950 (middle of option)
It is rumoured to expire 9th March
Click to expand...


For the un-educated here i.e. me.... what does this mean ?

Are you saying at some point between today and Thursday... the Euro will be badgered between 118 and 121 ??
 
1st trade done 2nd trade for the day will be short at 432 down to 379



a little busy at the mo so PMs will be answered as soon as poss
 
It's interesting the change in perspective Intent has on one's trading.

I typically trade Cable on an intraday basis. So even though I am still over-archingly Bullish in the longer timeframes, yesterday was good for shorting at (successful) tests of Resistance at both my central and lower bands.

So when looking at the daily, hourly and so on, within the context of intraday Intent, I 'allow' them to influence my bias. Still taking shorts, but with different R:R and absolute stop size, position size and even scaling pattern.

Today, however, when I can't plan on playing Cable intraday, for a few days, I'm taking a longer term 'view' on the instrument. Still Bullish, but now ONLY looking for a move, setup and entry to the upside. Which is my bias.

Although my lower intraday band today is 7426 (and it's currently below it at 7412), I'm going to go in full size (no scaling) on a break back up into the channel 'I have decided exists' which has a lower band at around about 7440. I say 'round about' as it's a Bullish channel and depending on when (and if) the price breaks through and successfully re-tests (i.ew. confirms as new Support) the lower band of that channel could be somewhat higher.

Once I am in (if I do get the setup I'm looking for), I'll be setting my stop WAY further than I would for an intraday position and consequently with higher risk will have a proportionally smaller position. But my target will also be proportionally higher too. In fact, R:R looks better in this scenario than on a multi-trade intraday basis. I hope I haven't stumbled on the lazy man's guide to Cable (or trading in general for that matter).

But is never ceases to amaze and stagger me just how our perceptions can be modified by looking with Intent at different timeframes as opposed to just using them in the context of our normal timeframe.

Hope some of that made sense...
 
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