Cable and Fibre

I've been on FF since 2010 with a break trading options and back again. Have been moving along nicely with my Forex and am positive but to be able to go live with a large account (large for me, 5K) I am wanting to create a community where we can share trades and levels. I know there is already a fibre and cable thread but find them to be tiresome with all the newbies, especially EUR/USD!!!

I will post my levels and trades starting monday and hope to make some friends who are willing to share and be profitable together...

I trade mostly breakouts and only use MA's to help me, otherwise I'm purely PA... NAKED ;-)

Had a mentor helping me out for 6 months which REALLY sped up the learning curve and have just recently become profitable. I'm making about 4% per week risking 1% per trade. In a normal week I will try to trade the London Open and London Close and maybe one trade in between if it materialises. Not too picky about time of day but only trade NY and London.

Have had weeks where I was up 8% but then making stupid trades I would bring it back down to 3-4% and Last week I was BE.

My day job allows me to be home until 30 Min after LO and large parts of the afternoon. Also have wednesdays off to trade soo will be here quite often...

Have bought two extra screens to my existing one and setup a trading room at home, soo am serious when I say I'll be taking the leap to Live soon.

Have been trading Demo for the moment and already blew one account of 500 Euros. Have found that if you are going to go live, better do it properly because you are tempted to make larger bets with a smaller account.

I have set a minimum of 5 Vouches to be able to participate as I really am OVER all the BS...

So, this will be a place of sharing and hopefully profit. My carreer as a sportsman ends in a couple of years and I would really love for Forex to be my new carreer(Have a Economics degree 75% done but can't see myself entering that world)

Please feel free to join in and also maybe share some of your stories ;-)

As you can see, my levels have been doing well so far this week and last week...

Did not expect the strong upmove on thursday and was actually looking for a test of 6123 before a further move down as per the H4 Bearflag Break. After moving above 6123 I was looking for a bounce from the flag which also didn't happen. Did catch the break of the flag though for a couple of pips (think I only got 35PIPS)

Fibre chart... Even though I was waiting for a break of 1.2961, I never took the trade but did get some nice trades while in the range between 1.2895 and 1.2961 (even though it broke the bottom twice hence my downward channel and 1.2810 line)

My stupid trade

Was looking for fridays break down below 6182 but it was too late on Friday for my liking...

Si Il y a les francais, on peux aussie discuter en Francais pour changer un peu ;-)

Of as julle dalk in Afrikaans wil praat, sal ek meer as gelukkig wees om saam te praat :-D

Ich sprauchen auch einen kleinen bisschen Deutch weile ich habe gebleiben am Heidelberg fur neun Monaten...

Yes, I speak a couple of languages :-D

Think about the number of times you've looked at a price chart and said to yourself, "Hmmm, it looks like the market is going up (or down, as the case may be)," and what you thought was going to happen actually happened. But you did nothing except watch the market move while you anguished over all the money you could have made.
There's a big difference between predicting that something will happen in the market (and thinking about all the money you could have made) and the reality of actually getting into and out of trades. I call this difference, and others like it, a "psychological gap" that can make trading one of the most difficult endeavors you could choose to undertake and certainly one of the most mysterious to master. The big question is: Can trading be mastered? Is it possible to experience trading with the same ease and simplicity implied when you are only watching the market and thinking about success, as opposed to actually having to put on and take off trades? Not only is the answer an unequivocal "yes," but that's also exactly what this book is designed to give you—the insight and understanding you need about yourself and about the nature of trading. So the result is that actually doing it becomes as easy, simple, and stress-free as when you are just watching the market and thinking about doing it.
This may seem like a tall order, and to some of you it may even seem impossible. But it's not. There are people who have mastered the art of trading, who have closed the gap between the possibilities available and their bottom-line performance. But as you might expect, these winners are relatively few in number compared with the number of traders who experience varying degrees of frustration, all the way to extreme exasperation, wondering why they can't create the consistent success they so desperately desire.
In fact, the differences between these two groups of traders (the consistent winners and everyone else) are analogous to the differences between the Earth and the moon. The Earth and moon are both celestial bodies that exist in the same solar system, so they do have something in common. But they are as different in nature and characteristics as night and day. By the same token, anyone who puts on a trade can claim to be a trader, but when you compare the characteristics of the handful of consistent winners with the characteristics of most other traders, you'll find they're also as different as night and day.

Trading in the Zone - Mark Douglas

Like these guys analysis:

On any given day, week, or month, the markets make available vast amounts of money to anyone who has the capacity to put on a trade. Since the markets are in constant motion, this money is also constantly flowing, which makes the possibilities for success greatly magnified and seemingly within your grasp. I use the word "seemingly" to make an important distinction between the two groups of traders. For those who have learned how to be consistent, or have broken through what I call the "threshold of consistency,"the money is not only within their grasp; they can virtually take it at will. I'm sure that some will find this statement shocking or difficult to believe, but it is true. There are some limitations, but for the most part, money flows into the accounts of these traders with such ease and effortlessness that it literally boggles most people's minds.

Mark Douglas...

Striving to get to that point

I will do some of my own analysis for the week later tonight or early tomorrow morning...

On the Chart we have my different zones for the week which signify support, resistance and possible areas of consolidation:

Firstly it must be said that fundamentally, this pair should be moving higher seeing as the Fed is printing like crazy and BOE has for the moment kept rates stable.

On a weekly basis the 1.6300 level has been very strong and has in the past caused a turn south on many occasions. I am of the opinion that we will test it again because of the fundamentals and so will be looking for opportunities to buy.

Friday we dropped to 1.6123 which is a very strong support level which supported us for the beginning of the week and which I believe has become a VERY strong support zone for this upmove but it must be said, as noted on the chart that we are in a downward channel and could potentially move lower to test the lows and also the LTL which will be found at around the 1.6080 level which has also been a pretty strong level in the past. CONFLUENCE...

BUT, seeing as Monday is a bank holiday in the US and the first real market moving news will be on Thursday (don't think Tuesdays Manu Prod will surprise too much), I will be looking to play the GREEN area like I did the beginning of this week.

If for some reason we move higher I would look for the red area to cap us but on a break higher we would move quickly for a test of 1.6300.

On the downside, I would look for 6080 to hold and if we were to break there, which would mean strong momentum, 6020 shouldn't pose too much of a obstacle downwards.

To finish off, I trade looking for 50-80 Pips at a time with 15-30 pip stops soo I will be using the 6120 level as a possible area to long but if we do break down I'll wait to see what happens at 6080 before taking a trade.

Am favoring the Green area as the most plausible scenario for this week...

GOOD LUCK TO ALL

Sorry, the chart isn't too clear, will zoom in more for the Fibre analysis and all future charts...

We all know that fundamentally, the Euro should weaken against the Dollar seeing as the spotlight is currently on Europe (Personally believe it will move to the US within the next couple of years, but it is what it is). With that said, we have had some strength in fibre with a break of my downward channel and find ourselves in a pretty narrow upward channel now...

For the past two weeks I have come to recognise 1.2960 and 1.2880 as strong S/R zones which have been relatively well respected. We currently find ourselves at the UTL of my channel and also very close to a STRONG sell zone between 1.3080 and 1.3170. Reason why I call it soo strong is because if you look back to February - May 2012 it was a zone of constant congestion and should now be the same. That said, it is in fact possible to enlarge this zone to include 1.3000 which would put us already in that zone but I prefer to use 1.3080 for the moment.

Seeing as I am in fact NEUTRAL on this pair at the moment I will be looking to take SMALLER trades on this pair aiming for 30 - 60 pips instead of my usual targets. I see us Meandering between 1.3080 and 1.2960 for the week unless President Draghi comes out with some new BS about how saved the Euro is.

In summary, I will look to take trades off any of my zones 1.2880/1.2960/1.3080 for a quick couple of pips but am cautious of Fibre as we are in a fighting area between bulls and bears on the larger TF...

Good Luck to ALL

That's me for tonight, hope to catch some action at LO though I doubt we'll have a strong move with US bank holiday...

Look at that... Both Fibre and Cable have retraced to my crucial Lines... Should get a bounce here at LO but we'll have to wait and see. I don't trade with a bias, just go with the flow ;-)

Broken down, waiting... LTL and Support 6080

Fibre at my line in the sand 2961 with 25ma on H4 and LTL of current uptrend channel on H4 all converging...

If we break lower here, 2880 will be the target. A Bounce should go back to 3060-3080

No trading today, would just be gambling and trying to break the habit of random rewards. (Trading in the zone)