Best Thread Live Cable Trading

[marmoset]

Short at 84 here, not wise, should be waiting for a channel breakout, either above 8500 or below 74.

First trade of the day... :|

 

[marmoset]

Hi Brianred and welcome as Marm has stated its often a case of what is expected by the market sometimes it is given away in the price action prior to the news but is still hard, better to be flat ahead of important news IMO

Marmoset I think M1 M2 M3 refers to the camilla equation pivots

Ahaa, Camarilla equation... Got an article on that downloaded somewhere. Right, SL in place, time to do some reading.

 

[dc2000]

was wrong there they use L and H for the levels

a bit of light reading whilst we wait for an entry http://www.camarillaequation.com/

 

[marmoset]

was wrong there they use L and H for the levels

a bit of light reading whilst we wait for an entry http://www.camarillaequation.com/

Yep, just read through the article, quite nifty. I figure M1-4 to be a modification (seems there's quite a few versions of Camarilla out there).

Stopped out of short for a measly 3 pips. Still, 1st trade of the day without virgin sacrifice, good day ahead

What I find a bit odd on the chart is that EUR had 5 downcandles (15min) while cable hardly followed. EUR bounced off the S1 pivot for the 4th time (no significance to the number of bounces, more to the level), looks like cable is aching to go up. So, EUR restraining cable => horizontal range.

And while I'm yakking, should have reversed to long to job the channel. Oh well, if the channel holds I'll ride it down again at the next turn. Meanwhile: entry long at 8508 and entry short at 8470.

 

[Karmacat]

Longer timeframes

Sitting here bored with making my backup discs for the weekend, and looking at what marmoset wrote yesterday about "the more experienced you get, the longer the timeframes become"...........and remembering what attracted me to cable in the first place, that it made moves of 100 points a day regularly, sometimes more. Methinks I'm gonna have to get serious about this, never mind thinking 20 points a day is wonderful.

 

[Priceman]

Sitting here bored with making my backup discs for the weekend, and looking at what marmoset wrote yesterday about "the more experienced you get, the longer the timeframes become"...........and remembering what attracted me to cable in the first place, that it made moves of 100 points a day regularly, sometimes more. Methinks I'm gonna have to get serious about this, never mind thinking 20 points a day is wonderful.

Nothing wrong with consistently getting 20 pips a day my friend if you're playing with big bucks... that's better than looking for big wins and not being successful...

 

[Karmacat]

Nothing wrong with consistently getting 20 pips a day my friend if you're playing with big bucks... that's better than looking for big wins and not being successful...

Thats true - 20 points a day can provide a hefty return with leverage. As I say, I'm bored, dreaming....... and offline now, good trades to all.

 

[marmoset]

Short again at 92

 

[zuke]

Sitting here bored with making my backup discs for the weekend, and looking at what marmoset wrote yesterday about "the more experienced you get, the longer the timeframes become"...........and remembering what attracted me to cable in the first place, that it made moves of 100 points a day regularly, sometimes more. Methinks I'm gonna have to get serious about this, never mind thinking 20 points a day is wonderful.

If you have a method that yields 20 pips per day, then that is great. It means then, that you can increase your size with confidence.

 

[marmoset]

That's a straightforward one. M1 is the middle point between the Pivot and R1. M2 is the middle of R1 and R2 and so on.

Thanks Ripcord,

Right, figured from what I saw on the charts posted. OK, will be looking over the charts again tonight (Peter Bain's videos).

 

[dc2000]

Sitting here bored with making my backup discs for the weekend, and looking at what marmoset wrote yesterday about "the more experienced you get, the longer the timeframes become"...........and remembering what attracted me to cable in the first place, that it made moves of 100 points a day regularly, sometimes more. Methinks I'm gonna have to get serious about this, never mind thinking 20 points a day is wonderful.

Interesting but its still consistancy that wins overall whether its 20 or 100 per day, it does remind me of the early days though chasing every point untill I sat down and wrote down a trading plan to get 10% per month growth and realised I only needed 120 to150 points per month with low capital risk to achieve this

 

[Priceman]

Interesting but its still consistancy that wins overall whether its 20 or 100 per day, it does remind me of the early days though chasing every point untill I sat down and wrote down a trading plan to get 10% per month growth and realised I only needed 120 to150 points per month with low capital risk to achieve this

Now that's an experienced trader talking. I unfortunately am still chasing down the pips and kick myself when I do it as I know it's wrong !!

Thanks for the wise words DC. I'll aim for similar I think, not looking for any amount of pips specifically just be able to recognise patterns to grab a few here and there and get consistent

 

[marmoset]

Sitting here bored with making my backup discs for the weekend, and looking at what marmoset wrote yesterday about "the more experienced you get, the longer the timeframes become"...........and remembering what attracted me to cable in the first place, that it made moves of 100 points a day regularly, sometimes more. Methinks I'm gonna have to get serious about this, never mind thinking 20 points a day is wonderful.

Those big moves attracted me to cable too. But as another pundit once put it: You can keep the top and bottom 20 pips, just give me the 60 in between! :cheesy: Better be roughly right than precisely wrong is also a good way of putting it.

And 20 pips a day, consistently, with propersized positions, add up nicely to fatten the account. The start is slow, but eventually compounding sets in... and valuable experience is gathered. Something along the lines of "when the student is ready, the master will reveal himself" or paraphrased: when the trader is ready, the market/charts will start talking to you.

Sounds a bit esoteric, must be my stuffy head. Anyway, patience and consistency carry the day, always.

*gets off soapbox*

 

[marmoset]

And out for another 5 pips: +3 +5 +34 (Tokyo) = 42, my daily target of 35 pips are in the bag :cheesy:

Originally Posted by dc2000
Interesting but its still consistancy that wins overall whether its 20 or 100 per day, it does remind me of the early days though chasing every point untill I sat down and wrote down a trading plan to get 10% per month growth and realised I only needed 120 to150 points per month with low capital risk to achieve this

Arrived at the same conclusion, figured 35 pips/day is doable.

EDIT, sorry my daily goal is 2%, which roughly translates to 35 pips, with position size adjusted accordingly.

 

[leovirgo]

Short 18486 out at 18461 for 25pips. I did not know cable trading is better than Dow. hehe..

 

[wasp]

Arrived at the same conclusion, figured 35 pips/day is doable.

Nah, 35 pips an hour! :cheesy: (much better!)

 

[marmoset]

Short 18486 out at 18461 for 25pips. I did not know cable trading is better than Dow. hehe..

Yup, isn't it? :cheesy:

Too late, you're hooked

 

[marmoset]

Nah, 35 pips an hour! :cheesy: (much better!)

Definitely!

Anyway, sure wish I HAD put in the entry short at 70, also jumping out at +5 was premature. But I'm a bit beside my shoes as they say in SwissGerman. In normal life I'd have trailed my stop and let the market take care of the rest.

At this point, looks like a good point for going long, but I'm off to work in half an hour and my biggest losses occurred when under that type of "must make profit NOW, time's running out" stress so I fold up shop for today. Smart money looks to be moving in

Right, out of my slippers and jammies, shower, shave and off to the daily treadmill. See ya in Tokyo.

Happy trading!

 

[wasp]

Definitely!

Anyway, sure wish I HAD put in the entry short at 70, also jumping out at +5 was premature. But I'm a bit beside my shoes as they say in SwissGerman. In normal life I'd have trailed my stop and let the market take care of the rest.

At this point, looks like a good point for going long, but I'm off to work in half an hour and my biggest losses occurred when under that type of "must make profit NOW, time's running out" so I fold up shop for today. Smart money looks to be moving in

Right, out of my slippers and jammies, shower, shave and off to the daily treadmill. See ya in Tokyo.

Happy trading!

As has been said in previous posts, you just need to work out how much is enough for you and seeing as you have achieved it already, happy days. 35 per hour, day, or week doesn't matter as long as it fits in your plan. Compounding can be slow long process but slowly slowly, catchee monkey (or marmoset!).

Slightly off topic, whereabouts in Switzerland are you and what is your native tongue?

 

[ChowClown]

...Marm reminds me of FC (FetteredChinos), another good guy, for those who haven't a clue who FC is; i'm sure Marm isn't FC i hasten to add...wonder where he's got to.