eatontrade
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rotten day form me - hate sideways choppy action, have spent 8 hours to lose 3 pips and am relieved its only that - what a waste of time
Best Thread Live Cable Trading
mickandpete
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I wouldnt say the days wasted
I for one have learnt to take TICS data very seriously
That will earn me money in future I am sure
Sometimes its about getting prepared for the future and not what is earnt on the day
I for one have learnt to take TICS data very seriously
That will earn me money in future I am sure
Sometimes its about getting prepared for the future and not what is earnt on the day
trendie
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mickandpete said:
depends if you're a christian.
equally, would you deal at 13 ? or at 7.
in chinese, there is a certain number that "sounds" like the word for "luck". (cant remember what it is, but in chinese hotels, that room number can get booked for several times the normal rates, cos chinese people may be more superstitious than otherwise and treat it as fortunate )
would you deal at that number ?
depends on your perspective, and whether you have the awareness of it, and whether you place any undue signficance upon it.
quiet day, innit ?
EDIT: my short at 730 got well and truly hammered. out for my customary -30.
should have noticed that 730 was at pivot point.
frugi
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You will average 75 pips per week. Stating a percentage is (I think) meaningless as a % has to be of something and you do not mention amount per pip or trading capital amount.
The max drawdown you may encounter depends on the number of trades. If you win 7/10 as you say then over 100 trades you can expect 4 consecutive losers; over 1000 trades you can expect 6 consecutive losses, over 5000 7 etc. There is an Excel formula for this =ROUND(LN(X)/-LN((1-Y)),0) where X is total number of trades and Y is chance of winning each e.g 50% would be 0.5.
However as you do not state the size in pips of your average win and average loss one cannot calculate the max drawdown in pip terms.
The max drawdown you may encounter depends on the number of trades. If you win 7/10 as you say then over 100 trades you can expect 4 consecutive losers; over 1000 trades you can expect 6 consecutive losses, over 5000 7 etc. There is an Excel formula for this =ROUND(LN(X)/-LN((1-Y)),0) where X is total number of trades and Y is chance of winning each e.g 50% would be 0.5.
However as you do not state the size in pips of your average win and average loss one cannot calculate the max drawdown in pip terms.
frugi said:
Thanks for your reply.
The % is important as it will be the way to calculate the ROI, and since its in %,and not # of $, the amount of money is not important as the % stay the same for any amount invested.
As for win/loss, the loss limited to 15 pips a trade. (3 out of 10 trades). The net daily gain is 15 pips too.
Is this info change the math or my above # are O.K.?
eatontrade
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morning uphios - looks like we are the only 2 on here, did u get any of that upmove ? I got lucky, logged on at 7am and thinking that 7440 would hold, went long. Next issue is whether 85 is gonna hold. Hourly and daily indicators are heading higher so it may have another go at breaking through. Apparently there are stops above 7510 which could send it higher if tripped.
Morning Eatontrader, funny, mine was the other side. I shorted late last night at 7488 and closed this am at 7348. I expected the rise but unfortunately it happened whilst I still thought about what to do with it. Personally I still favour the short unless 7516 goes so I am looking for a little better short entry.
eatontrade
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jacinto said:
Personally I wouldn't call that a breakout. Cable is very volatile and can move around a trendline or range without being significant. This is aside from getting into the whole issue of false breakouts where a large order can take out the supply moving the price temporarily higher/lower before equilibrium returns. Or of course the other kind where a bigger player can trade a pricr outside the range in a bid to trigger stops etc.
Thanks Eaton, Thanks Uphios. helpful answers. then, the same just happened at the top of the asian range, which until now, and in line with above reasoning is still intact...for the time being.
All that aside, mind the 100 day moving average at 7490, and the 61% of the 7936 (25th of jan) and 7230 (of Monday), which stands at 7500.
All that aside, mind the 100 day moving average at 7490, and the 61% of the 7936 (25th of jan) and 7230 (of Monday), which stands at 7500.
eatontrade
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Also look out for UK Retail sales at 9:30
