Best Thread Live Cable Trading

Learning by doing.

garthm9 said:
I appreciate the links. I have been off my butt to the tune of more than -10K in paper trading. The problem I have been having with beginner sites is how to weed out good from bad. It seems most systems rely heavily on money management and little on actual understanding of the market. I have been getting a 40-60% to 50-50% success rate using a combination of pivot, intraday fibs, and various other indicators, but my losers greatly exceed my winners in pips (20 -30 as opposed to 3 -10 respectively).:rolleyes: If better money management is truly the answer, then so be it. However I was impressed by dc2000 calling the market accurately two days in a row, so I thought it worth a post to someone who appears to truly know what he is doing as opposed to one more beginners site that seems to be either guessing themselves or simply trying to sell something.
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I see your point. Odd creature this trading beast; you read all around it, looking at various systems and eventually ending up using KISS as a way of trading. I think most of us evolve as traders via this route.Try the Traderpedia etc links, and as you have intimated - use selective questions based on observation and past study. Study the market then the participants. Sadly I am not the holy grail so anything I say can always be improved upon by more gifted board members, so keep studying and poke the fire now and again. ;)
 
garthm9 said:
I appreciate the links. I have been off my butt to the tune of more than -10K in paper trading. The problem I have been having with beginner sites is how to weed out good from bad. It seems most systems rely heavily on money management and little on actual understanding of the market. I have been getting a 40-60% to 50-50% success rate using a combination of pivot, intraday fibs, and various other indicators, but my losers greatly exceed my winners in pips (20 -30 as opposed to 3 -10 respectively).:rolleyes: If better money management is truly the answer, then so be it. However I was impressed by dc2000 calling the market accurately two days in a row, so I thought it worth a post to someone who appears to truly know what he is doing as opposed to one more beginners site that seems to be either guessing themselves or simply trying to sell something.
Click to expand...

Well looks like you already have the basics which is good. He got the figs from a larger timeframe which always comes in handy so you know roughly where the market could/should turn. I had the figs but can't trade most of the time coz of my job so just look back in anger and say ' I should'a had that sucker'

All the best. I'll be reading a plenty this weekend too.
 
Morning all. I have been in "Dr Chessington" mode all weekend backstesting a number of new strats. After endless hours of fun trying different filters, I've finally managed to come up with a Vegas Tunnel variant that trades of the 30 Min. I will be forward testing this for the next couple of weeks, so watch out for my (even more than usual) weird trades.
 
What a rubbish market, false breaks on the top and bottom. I am long but not very convinced. Think we will probably bounce around for the rest of the day (i hope I'm wrong)
 
Today was an ideal contender for boredoom trade syndrome, anyone fall for the faux pas?
 
Just fallen for Boredom Trade Syndrome!! I have gone SHORT 681, Stop 711 Target 1 651 (2 lots), Target 2 621 (3 lots), Target 3 561 (5 lots)
 
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quite day.. but cable up on positive USD Chicago PMI.

this would suggest their is still more upside no?

i have 1.8725 as the next ST upside target....

would not want to be short until i see price action at that level, unless its just for a quick scalp job...

momo still favours the bulls...
 
seems to have been a bit quiet on here for a few days guess everyone had the same idea and took a few days R&R

still waiting for the turn and would prefer later today a price of 705 pre US would be a nice confirm on timescale

will be back later to post re Fridays questions that I missed
 
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