Best Thread Live Cable Trading

[JillyB]

Certainly been an interesting afternoon - courtesy of Mr Darvas - and JillyB.........

There was also a quick trade I think on cable as well; 7533-7516.

Yes, this is the one I missed as I was in the other two trades at the times. I can multitask - but not quite that much!

 

[VSATrader]

Yes, this is the one I missed as I was in the other two trades at the times. I can multitask - but not quite that much!

So does al this FX trading mean that you will soon be moving to Fort George?

 

[Priceman]

I must look into the Darvas stuff some more if it's that successful for you JB... how many others out there use it that much though successfully on FX ?

Simple stuff is what I'm looking for !

signing off now guys so have a good one.

 

[JillyB]

So does al this FX trading mean that you will soon be moving to Fort George?

Thank heavens I thought I was the only Channel Islander around.

Fort George houses are generally Open Market properties and my partner is local which means I'm ok (as long as I behave myself or not!)

So are you a Guern or a Crappaux?

 

[JillyB]

One thing I want to add about the Darvas boxes is that I don't trade them between 4.30pm and 6.30pm.

Why? Because the US market is taking it's long lunch and the FX tends to go to sleep for a while. Its so boring and not worth watching.

I'm usually back with it - if I'm not trading the Dow - from about 6.30pm - 7pm to catch any major price moves when the US resumes for the afternoon session.

 

[Heitschi]

Can anybody post a Chart with the davar boxes and trades for today?
Please

 

[trendie]

Can anybody post a Chart with the davar boxes and trades for today?
Please

a possible Darvas on 5-mins a short while ago. ( didnt trade it - had only just got up ).
would have yielded 10 pips.
first traingle - High put in
second triangle - low put in after high unbreached for at least 2 bars
third triangle - breach of High after low uinbreached for at least 2 bars.

hope that is the correct logic.

 

[Priceman]

a possible Darvas on 5-mins a short while ago. ( didnt trade it - had only just got up ).
would have yielded 10 pips.
first traingle - High put in
second triangle - low put in after high unbreached for at least 2 bars
third triangle - breach of High after low uinbreached for at least 2 bars.

hope that is the correct logic.

Do these things work in a downward trend too then ? I assume you just reverse the counts in the opposite direction ? Not going to be a lot going on today I imagine.

 

[JillyB]

Where is everyone this morning?

Anyone would think it was holiday time! :cheesy:

There is a box just formed on the Cable 5 min chart.

Top 1.7548
Base 1.7539
(taken from CMC sell prices)

It's so slow this morning, it's like the markets just can't be bothered.

 

[trendie]

Do these things work in a downward trend too then ? I assume you just reverse the counts in the opposite direction ? Not going to be a lot going on today I imagine.

yes. you could jusr as easily start from a Low put in, then create the boxes from there.

the example I posted, I think you could have just as easily taken the trade if the lower side of the box was breached.

the box is just to quantify the consolidation, by setting an upper and lower line. you trade the break from the box, up or down.

hopefully JillyB can verify this.
( no trading today for me, just evaluations and testing for Tuesday onwards )

 

[JillyB]

yes. you could jusr as easily start from a Low put in, then create the boxes from there.

the example I posted, I think you could have just as easily taken the trade if the lower side of the box was breached.

the box is just to quantify the consolidation, by setting an upper and lower line. you trade the break from the box, up or down.

hopefully JillyB can verify this.
( no trading today for me, just evaluations and testing for Tuesday onwards )

According to the Darvas theory the box top has to be put in first and this has to remain unbreached for a minimum of 5 candles.

On candle 3 if the box top is still in place you put in the box bottom - there seems to be a little discrepancy here as to where that should be. For instance if the low of candle2 is lower than candle 3, which do you use? I tend to go with the lower low to set the box base.

If the box base is breached on candle 4 or 5, then it is reset and this becomes candle 3 (so you need another 2 candles after the box base is set to confirm it). During all this time the box top must not be breached.

Once you have this then your Darvas box is set and you can wait for a breakout either through the top or the bottom. When this happens, the opposite side of the box becomes your stop loss.

One thing I do, rightly or wrongly, is that if the price consolidates more - say over 10-15 candles -and there is a smaller box formed within a larger box, then I reset the parameters to the smaller box. This is so when the breakout does occur, I can hopefully be straight in there with a trade.

Hope this helps.

 

[JillyB]

Where is everyone this morning?

Anyone would think it was holiday time! :cheesy:

There is a box just formed on the Cable 5 min chart.

Top 1.7548
Base 1.7539
(taken from CMC sell prices)

It's so slow this morning, it's like the markets just can't be bothered.

Breakout of the box top has occurred! Looking for 1.7557 to secure 5 pip profit

 

[JillyB]

Breakout of the box top has occurred! Looking for 1.7557 to secure 5 pip profit

1.7557 hit - 5 pip profit taken! :cheesy:
I love simple strategies.

 

[Priceman]

Breakout of the box top has occurred! Looking for 1.7557 to secure 5 pip profit

I traded that one ! got 7pips. Seems quite a simple system, although not sure in major moves and uncertainty of the markets that you wouldn't get caned !

So what you're saying JB is that it wouldn't work in the opposite circumstances then when the candles are reversed ? You only use it going upwards ?

 

[JillyB]

I traded that one ! got 7pips. Seems quite a simple system, although not sure in major moves and uncertainty of the markets that you wouldn't get caned !

So what you're saying JB is that it wouldn't work in the opposite circumstances then when the candles are reversed ? You only use it going upwards ?

No I also use for Sell breakouts. This has just happened on the Euro at the moment. It's broken the base at 1.2117 - although there is not much momentum with it at the moment. Again I'll try and get 5 pip profit out of it.

Not much momentum anywhere today, though!

 

[Priceman]

No I also use for Sell breakouts. This has just happened on the Euro at the moment. It's broken the base at 1.2117 - although there is not much momentum with it at the moment. Again I'll try and get 5 pip profit out of it.

Not much momentum anywhere today, though!

How did you get into that one as I didn't see the count. That one slipped past me. Oh well I'm still learning

 

[JillyB]

How did you get into that one as I didn't see the count. That one slipped past me. Oh well I'm still learning

The base was set by 8.50 and 8.55 am candles at 1.2117( remember I'm using CMC, so you may have a slightly different price). It was breached on the 9.35 candle and hung about for a bit before hitting the target at 10.05am, for 5 pips.

 

[JillyB]

The cable breached the base of a Darvas box at 1.7546 at 10.05am.

Took 5 pips here as well.

Todays trades 3
Wins 3
Losses 0

Total +15

I'm off to do some shopping now - so see you later!

 

[indexgold]

The cable breached the base of a Darvas box at 1.7546 at 10.05am.

Took 5 pips here as well.

Todays trades 3
Wins 3
Losses 0

Total +15

I'm off to do some shopping now - so see you later!

What time frame are you trading Darvas box and what periods do you set in the box.
?

 

[Priceman]

Question for JB when she gets back having spent the morning's profits or anyone else that wants to reply...

When using Darva boxes do you look in advance for the fundamentals too and not trade around the time of major decisions that can chop the market in all directions ?