Best Thread Live Cable Trading

[Uphios]

Thanks for the that Eatontrade. A timely reason for me to jump out at my target if we make it there.

 

[Uphios]

Took profit from my add on on that dip but it wasn't strong enough to get me out of my short altogether. Oh well, I will try again if we rise but it looks to me like the market expects disapointment from the US at 1.30 UK time.

I really need 7315 to get out of my short but can't really see any reason for it to get there at the moment.

 

[eatontrade]

Took profit from my add on on that dip but it wasn't strong enough to get me out of my short altogether. Oh well, I will try again if we rise but it looks to me like the market expects disapointment from the US at 1.30 UK time.

I really need 7315 to get out of my short but can't really see any reason for it to get there at the moment.

If we can break through bottom of range at 7340 there could well be a move back to top of last range at 7280, however as you say we have US data at 1:30 and its unlikely to happen before then.

 

[Uphios]

7280 would probably see me put my large position back on long but I suspect from what I am seeing that the Pound has been a little beaten up of late and is now seen as a bargain. If that's the case it may well hold relatively strong even through US data being favourable to the dollar. I think I need a little bab UK news to shake the pound of it's 'bargain' status temporarily.

 

[Kaffee]

orders for buying GBP 7380

LOL. I know that... where did you get that view from is what I meant.

 

[mark twain uk]

... There are other threads on this board to spout right-wing clap-trap, so can we please keep such garbage off this thread ? ...
.

In the spirit of fairness, I think we should also note that there is a lot of left-wing clap-trap too

 

[indexgold]

Right now the spread on the June Cable future is 4 pips.[/QUOTE
don't trade cable,I trade EUR/USD 1 pip spread, cable mostly is 2 pips

 

[Baruch]

Right now the spread on the June Cable future is 4 pips.[/QUOTE
don't trade cable,I trade EUR/USD 1 pip spread, cable mostly is 2 pips

And what about the spread when we have big eco news like NFP?

PS. If you trade with IB, you always, no matter where or when, have a 1 pips spread on euro and 1,5 pips on cable - and no commission.

 

[Baruch]

Always close all positions before NFP (unless your girlfriend works in Department of Labor :cheesy: ).

We have major US news in 45 min.

 

[trendie]

what is this fixation with 45 minutes ? first zuke, now you :cheesy: :cheesy:

anyway, does anyone use "momentum" as an indicator ? and is it useful ?

also, where can I get a ROC ( Rate Of Change ) indicator for MT4.
( testing out another of LBRs ideas )
thanks

 

[jezza888]

what is this fixation with 45 minutes ? first zuke, now you :cheesy: :cheesy:

anyway, does anyone use "momentum" as an indicator ? and is it useful ?

also, where can I get a ROC ( Rate Of Change ) indicator for MT4.
( testing out another of LBRs ideas )
thanks

Trendie,

Did you stop using stochastics in the end? I remember you saying you were going to?

 

[trendie]

Trendie,

Did you stop using stochastics in the end? I remember you saying you were going to?

I did some forward testing using LBR (7,10,4).
( the idea that the slow line showed general trend, and the faster line moving away, and then "hooking" back was a pullback to the trend, and thus a low-risk entry into the main trend)

I found this to be margianlly useful. By the time the signal is given, the price is no longer at the low-risk point. Nice idea, but I cant make it work.

I also did some forward testing using DiNapolis Stochs set at (8,3,3) with a MACD.
The MACD determines the trend, and using Stochs as low-risk entries.
( when the MACD shows downtrend, the Stochs falling from an overbought position is a low-risk short, and when MACD shows uptrend, oversold position defines a low-risk long)

Here I found that the MACD not a reliable indicator of main-trend.

Both ideas look pretty, but when you have to make a decision as the data unfolds bar by bar, it is not as clear cut.

Overall, forward testing was not conclusively better than my existing ideas.
( however, I had already been using Stochs standard setting (14,3,3) as precisely this method for low-risk entries, but only in context of my beloved MAs., and also an eye to ADX. )

For my next experiment, I would like to test Stochs OB/OS when ADX is low ( range ), and use MAs when ADX high ( trend ).

But at the moment, I find geometry to be more useful. I use zig-zag function on MT4 to show highs and lows. very useful, it highlights support/resistance quite well.

 

[jezza888]

Varying indicator combinations and their (possible) merits

I did some forward testing using LBR (7,10,4).
( the idea that the slow line showed general trend, and the faster line moving away, and then "hooking" back was a pullback to the trend, and thus a low-risk entry into the main trend)

I found this to be margianlly useful. By the time the signal is given, the price is no longer at the low-risk point. Nice idea, but I cant make it work.

I also did some forward testing using DiNapolis Stochs set at (8,3,3) with a MACD.
The MACD determines the trend, and using Stochs as low-risk entries.
( when the MACD shows downtrend, the Stochs falling from an overbought position is a low-risk short, and when MACD shows uptrend, oversold position defines a low-risk long)

Here I found that the MACD not a reliable indicator of main-trend.

Both ideas look pretty, but when you have to make a decision as the data unfolds bar by bar, it is not as clear cut.

Overall, forward testing was not conclusively better than my existing ideas.
( however, I had already been using Stochs standard setting (14,3,3) as precisely this method for low-risk entries, but only in context of my beloved MAs., and also an eye to ADX. )

For my next experiment, I would like to test Stochs OB/OS when ADX is low ( range ), and use MAs when ADX high ( trend ).

But at the moment, I find geometry to be more useful. I use zig-zag function on MT4 to show highs and lows. very useful, it highlights support/resistance quite well.

I remember looking at zigzag once and watched it for a few days and couldn't believe that it could be used in any way but I'd never thought about as a S/R marker. Good thinking.

I use a combination of MACD and Slow stoch (just basic run-of-the-mill) as provided by MT4 and have tweaked the settings to suit my requirements. They actually work really well and especially for big days. Normally, indicators provide a great methodology for either range bound or trending yet, with the right tweaking they can work well in both.

I did spend alot of time backtesting and forward testing, changing it slightly and then doing it agin and again till I was comfortable. I think the turning point was when I tested a full month ahead, analyzed the results and accepted that yes, they are slow and/or lagging but, my own price analysis, S/R signals, breakouts etc caused me more losses than the delayed indicators. Once I realized that I can still turn a healthy profit, even with being slightly late in/out, and of course, accepting that I will be wrong, and it will take time (2 steps forward, 1 back frequently) indicators, any set ups, can be made to work. Depends whether you won't to pick tops and bottoms and never lose!?

Good luck with the next tests and hope you find a good profitable setup.

Jezza

 

[trendie]

I remember looking at zigzag once and watched it for a few days and couldn't believe that it could be used in any way but I'd never thought about as a S/R marker. Good thinking.

I use a combination of MACD and Slow stoch (just basic run-of-the-mill) as provided by MT4 and have tweaked the settings to suit my requirements. They actually work really well and especially for big days. Normally, indicators provide a great methodology for either range bound or trending yet, with the right tweaking they can work well in both.

I did spend alot of time backtesting and forward testing, changing it slightly and then doing it agin and again till I was comfortable. I think the turning point was when I tested a full month ahead, analyzed the results and accepted that yes, they are slow and/or lagging but, my own price analysis, S/R signals, breakouts etc caused me more losses than the delayed indicators. Once I realized that I can still turn a healthy profit, even with being slightly late in/out, and of course, accepting that I will be wrong, and it will take time (2 steps forward, 1 back frequently) indicators, any set ups, can be made to work. Depends whether you won't to pick tops and bottoms and never lose!?

Good luck with the next tests and hope you find a good profitable setup.

Jezza

I seem to constantly be using indicators, then not, then do, etc.
Personally, I have stopped tweaking indicators to get "special" results.
These days, I use indicators by leaving them to standard settings. I think what is happening is that I am becoming familiar with the markets behaviour, and they now act as confidence-builders, so I dont need any special numbers. ( any non-standard settings, I get from books, such as Master Swing-Trader by Alan Farley etc )

Additionally, the following webpage helped me to get rid of lots of multiple indicators.
Multi-collinearity is when you use many indicators of the same type, and they are basically telling you the same thing.
I have managed to reduce my indicators to just 5 !!!!

http://www.stockcharts.com/education/TradingStrategies/Multicollinearity.html

I think the other problem is time-frame.
If you scalp, you are too busy waiting for a trade in the next 2 minutes, so you just trade.
If you trade just 1 or 2 trades a day, and you have a loss, you have too much time on your hands to mull over why you lost, and try to second-guess yourself, adn retry new settings.
And if you have string of losses, each new trade takes on greater pressure.
Scalping doesnt have those problems. But I cant scalp profitably on SB.

 

[jezza888]

I seem to constantly be using indicators, then not, then do, etc.
Personally, I have stopped tweaking indicators to get "special" results.
These days, I use indicators by leaving them to standard settings. I think what is happening is that I am becoming familiar with the markets behaviour, and they now act as confidence-builders, so I dont need any special numbers. ( any non-standard settings, I get from books, such as Master Swing-Trader by Alan Farley etc )

Additionally, the following webpage helped me to get rid of lots of multiple indicators.
Multi-collinearity is when you use many indicators of the same type, and they are basically telling you the same thing.
I have managed to reduce my indicators to just 5 !!!!.

I understand how you mean by becoming familiar, I also find the more I watch the better I get to know it but experience is one thing that takes time.... Indicators act like stabilisers and I wouldn't mind having them till I'm 90 if it means I stay consistently profitable.

I use two indicators, one supplies the main direction and the other as confirmation/filter which work well together. I'm not big on what 'pro's' and guru's say and don't believe in half the great quotes said... its all personnal to your own style and there are no written rules. I like having 2 similar indicators, it works well for me.

I think the other problem is time-frame.
If you scalp, you are too busy waiting for a trade in the next 2 minutes, so you just trade.
If you trade just 1 or 2 trades a day, and you have a loss, you have too much time on your hands to mull over why you lost, and try to second-guess yourself, adn retry new settings.
And if you have string of losses, each new trade takes on greater pressure.
Scalping doesnt have those problems. But I cant scalp profitably on SB.

Good old discipline. FIrst find the methods, second install the confidence then lastly its all discipline..... IMO :cheesy:

Jezza

 

[baze]

And what about the spread when we have big eco news like NFP?

PS. If you trade with IB, you always, no matter where or when, have a 1 pips spread on euro and 1,5 pips on cable - and no commission.

And if you trade spot on an multi-party price streaming system like I do then your spread is typically 0 or 1 or 2 at worst, and of course no commission.

 

[Baruch]

And if you trade spot on an multi-party price streaming system like I do then your spread is typically 0 or 1 or 2 at worst, and of course no commission.

What is a multi-party price streaming system??

 

[eatontrade]

Suprised to see cable hasnt moved much higher after both US Data items should have been USD negative

 

[baze]

What is a multi-party price streaming system??

It's a platform that streams prices in from multiple banks, non re-tail trading platform

 

[eatontrade]

It's a platform that streams prices in from multiple banks, non re-tail trading platform

So are you trading for a bank/corporate or is this for your own acct, presume this is real money trading rather than leveraged ?