Best Thread Live Cable Trading

Right, paint dries faster than this ;)

Closed long .1 8244 at 8270 (moved limit up 1 pip) for 21 pips
Went short .1 at 8271 (-4 pips = 67, moved entry level up 3 pips), limit 8244

Put in another entrystop buy of .1 at 8305 limit 8348 in case NY session hurdles 8300
Leave 8282 safety net long entry in place, no limit
Adding another entrylimit buy of .1 at 8248 limit 8270 in case sideways channel holds up

So far: 91 pips on a comatose day :cool:
 
JP1966 said:
The thing that puzzles me most about this move is eur/£. Dollar is weak against everything and so I would expect eur/£ to have gone higher, not off 60 odd pips in a couple of days.
Click to expand...


Eur£ isnt dollar related. What you would need to see if strength or weekness in either the euro or pound to start to see a trending move in this cross rate.

If both euro and pound are strong euro£ will stay relatively quite and range bound
 
Oops, safety net buy got activated at 8282 (that's 8278 bid), so now my max loss is 11 pips (78-67),
I can go off to work without a worry about market direction.

Hi Ho, Hi Ho
It's off to work we go :)
 
marmoset said:
Oops, safety net buy got activated at 8282 (that's 8278 bid), so now my max loss is 11 pips (78-67),
I can go off to work without a worry about market direction.

Hi Ho, Hi Ho
It's off to work we go :)
Click to expand...
I am shorting the market here for 5-10 pips
 
Good call rav700,

Look at that inverted hammer (the exact term escapes me for the moment, evening star?), nice bounce off the big number :cool:

I made an error in my max risk calculation above: it should be 82-67 = 15 pips

wee, my short just brought in 23 pips, my long at same level got activated and is in the green :D

tally up: 91 + 23 = 114 pips so far... but now I gotta think fast for a safety net to the downside, with a far bigger risk amount... :eek:
 
Right, safety net in place: entrystop sell .2 (got 2x .1 open) below Tokyo low of 8227, no limit

Hasta la vista! Gotta run!

Happy trading!
 
Real quick: last added buy at 48 just netted 22 pips, reducing safety net size down to .1

Total 114 + 22 = 136 pips, won't be present or trading until I get home around 23pm GMT
 
8500 anyone?!!!!
 

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Newtron Bomb said:
Eur£ isnt dollar related. What you would need to see if strength or weekness in either the euro or pound to start to see a trending move in this cross rate.

If both euro and pound are strong euro£ will stay relatively quite and range bound
Click to expand...

I appreciate what you are saying but it isnt often that eur/£ goes against a dollar move. With the $ so weak I would have expected eur/£ to be steady to up - not off about 90 ticks!

Incidentally there were huge stops apparently in about 6 yards of dollars today.

and tom is the HSBC dividend day so that usually leads to fun and games in cable in normal markets. There is a fixing at 11am and so HSBC have to buy £ to sell it to shareholders at whatver the rate is at 11am.
 
Day end update

So far so hoopy :D

This was the situation before I went to work:

entered entrylimit buy at 8210 limit to be determined later in the day. (capture big fig bounce)
Put in another entrystop buy of .1 at 8305 limit 8348 in case NY session hurdles 8300
Leave 8282 safety net long entry in place, no limit

Currently, 23.04pmGMT: 1.8239
Safetynet long .1 still open, deep in red: -44 pips
Safetynet short .2 still open, in red: -30
"hurdle" long 8305 got nicely entered and exited at 8348 43 pips
bottom long for the bounce off 8200 got entered at 8210 and manually exited at 8238: 28 pips

Tally for the day: 136 + 28 + 43 - 30 - 44 = 133pips if I'd close out the reds...
Which I won't, I'll be going zen with a couple of cold lagers, watch telly and decide on action to be taken :cool:

So my day tally is 136 + 28 + 43 = 207 pips, I carry over the negs as cable ain't got no fake in that booty shake brotha! :LOL:

PS Just keep wondering why I didn't put the hurdle limit at 100pips like on Friday :rolleyes: I mean, like, that fat lady can sing AND dish it out ;)
 
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Hmmm, Zen setting in after big draught of my Tuborg...

Go long for the classical 40pip (we're back to normal yet? Need to meditate on that some...) Tokyo rise towards 1.30-2.30am GMT.

OK, .1 long at 8235 limit 8273..... should get me close enough to the long safetynet to close it with little loss before the pre-Big Ben sets itself in motion. Might as well put in a short (entrylimit sell) at 8273, .1 for the pre-Ben down, something like, hmm, 25-35 pips. *need more beer*
If I get up there, replace safetynet long near bottom of anticipated Big Ben move, i.e. 8175-65.

I'll leave the short safetynet (.1 at 8227) on, add limit though for another 8200 bigfig bounce at 8205 (a bit odd and illogical, but when I get up tomorrow I'll ponder whether I shouldn't move the limit down to 8185-75ish near the safetynet long), if it doesn't get taken out by the Tokyo low, it may still serve if *finally* Big Ben does manifest itself. If taken out (closed) a limitentry buy back up 30pips as the pre-Big Ben does its correction before Big Ben tolls... must be around though to put in the final short... hmm... got a dentist appointment at 8.45GMT. *curses*
Then there's the possibility of pre-Big Ben going :p on me, and simply head straight up, what with uptrend and the likes... another long entry announcing itself above Big Ben short entry...

Then there's the blockbuster upward trend to be reckoned with... and currently rate is below pivot for the first time in three days... bouncy off or hurdle? hmmm, plenty to ponder *cracks another pint 'o Tuborg*

Aah the travails of daily strategy... ;)
 
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Decided against leaving the short safety net open, closed it at b/e. .2 is currently too big a risk, waiting for a rise in rate to reinstall a .1 short. Could do it right now, price has moved 6 pips, leaving a nice 2pip advantage for another downmove.
 
JP1966 said:
I appreciate what you are saying but it isnt often that eur/£ goes against a dollar move. With the $ so weak I would have expected eur/£ to be steady to up - not off about 90 ticks!

Incidentally there were huge stops apparently in about 6 yards of dollars today.

and tom is the HSBC dividend day so that usually leads to fun and games in cable in normal markets. There is a fixing at 11am and so HSBC have to buy £ to sell it to shareholders at whatver the rate is at 11am.
Click to expand...

Incidentally there were huge stops apparently in about 6 yards of dollars today

Can you elaborate on this please?
 
I have had a look at cable and I seriously think it is over-bought at this point there has too be some kid of correction...
I have have an order in at 1.8423 for june contract and will keep a stop at 1.8453
 
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