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-   -   Trading the Cable swings via averages (https://www.forexfactory.com/showthread.php?t=849587)

Nala66 Nov 18, 2018 10:22pm | Post# 1

Trading the Cable swings via averages
 
Intro.
My name is Alan, been trading for donkeys years.

Now specialise in trading Cable only via a very effective but simple method based upon the evidence presented by the market and not what I may think will happen down the track.

I am going to start this thread with the chart setups and then move on to what to look for, timing, targeting, money management etc.. and whatever else I find relevant at the time of writing.

Overview...

If you don't believe Price is always trying to make HH or LL averages then it is pointless for you to continue reading this thread. This can easily be proven as a fact just by way of simple observation of the chart itself.

I would ask all to bear with me until I have completed each section and then ask "Any questions?"

So without further wordage I will begin.

Hope you enjoy the ride.

Nala66 Nov 18, 2018 10:43pm | Post# 2

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This is the first of the 5 minute chart setups.

We want a plain old black and white chart because it prints well to make a hard copy record of the events. We can put the date on them and keep them in a folder as a permanent record we can easily access whenever.

So we set the properties of a 5 minute GBP/USD like this...
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Nala66 Nov 18, 2018 10:52pm | Post# 3

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If you have done this correctly you should now have a completely white chart with only the current price line showing.

Next we are going to add the average which is a 26 period EMA as a double thickness black line So open the navigator select Moving Averages and set the parameters like this...
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Nala66 Nov 18, 2018 10:55pm | Post# 4

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So far so good you should have the same as this...
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Nala66 Nov 18, 2018 11:10pm | Post# 5

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Now this next bit is not really needed but I find it helps until you get use to watching multiple charts and some people are using small screens such as laptops so this additional info helps see the picture.

We are going to add both the current high and low prices and put them on a shade or two lighter such as dark grey.

Price itself is an average but it is a 1 period simple moving average (SMA)

Putting two of these on the chart one set to the high and the other set to the low we will get the current distances of the bar movements tops and bottoms.

So set the SMA parameters thus...

Noting the line thickness is the thinnest and one is set to high and the other is set to low.
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Nala66 Nov 18, 2018 11:16pm | Post# 6

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That is all we need to do to set up this 5 min chart. It should be nice and clear, free from clutter and instantly easy to read the direction.

Looking like this...
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Nala66 Nov 18, 2018 11:21pm | Post# 7

Ok that is done I will leave it now until tomorrow to setup the next set of charts to give folks a chance to ask questions.

Sorry if I am going slow here but some folks need a lot of detail so I have to move at the slowest pace.

You might want to set the work you have done as a template with a name of your choice.

EDIT...Can you please put your questions in this thread and not as a private message, this saves me answering the same question over and over.

datdle Nov 18, 2018 11:24pm | Post# 8

intersting . so far, you dont have any tools for filtering noise ?

kofix11 Nov 19, 2018 12:18am | Post# 9

Thank you, interested, subscribed.
Plain explained, well done.

Nala66 Nov 19, 2018 1:11am | Post# 10

intersting . so far, you dont have any tools for filtering noise ?
Yes I do but I will explain that later...

Nala66 Nov 19, 2018 1:12am | Post# 11

Thank you, interested, subscribed. Plain explained, well done.
No worries hang in there.

classy Nov 19, 2018 3:36am | Post# 12

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congrats for your personal thread wish you good luck k and happy trading .nala ,i know you are master of cable trading hope to learn interesting things from you .most important please don't stop/close thread in the middle like so many thread .
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Nala66 Nov 19, 2018 3:51am | Post# 13

congrats for your personal thread wish you good luck k and happy trading .nala ,i know you are master of cable trading hope to learn interesting things from you .most important please don't stop/close thread in the middle like so many thread . {image}
Thanks but alas at some point I will have said all I can say unless I go completely off the topic.

I should think a week from today most will have a good grasp of the topic and hopefully we can restrict our conversations to some of the finer points, indeed I hope someone can actually improve the mechanics of it all.

All I wish to add at this stage is this is probably very radical to most peoples concepts.

HanifBukhari Nov 19, 2018 4:00am | Post# 14

best of luck for your thread.

Nala66 Nov 19, 2018 4:38am | Post# 15

best of luck for your thread.
Thanks and if there is something not understood please speak up because I read charts not minds.

matthew89 Nov 19, 2018 5:47am | Post# 16

Very interested to see where this thread goes, subscribed...

Nala66 Nov 19, 2018 5:52am | Post# 17

Very interested to see where this thread goes, subscribed...
Cool..thanks for subscribing

Goyatrade Nov 19, 2018 7:02am | Post# 18

Congrats! Subscribed and curious! Am also studying your Quartile method to supplement my own Cable trading! Appreciated!

vmelnikov Nov 19, 2018 7:23am | Post# 19

Interesting, I'm in.

matthew89 Nov 19, 2018 11:22am | Post# 20

Hi Nala66, i dont want to sound impatient! But are you going to go into detail about the rules surrounding your strategy? i.e Entry, Exit, TP and SL?


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