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Trading the Cable swings via averages

  • #1,181
  • Jan 17, 2019 4:42am Jan 17, 2019 4:42am
Quoting aud
Anyone find their Cycle Lines got messed up over Christmas / New Year. Mine moved 2 bars to the right on 26th Dec and again on 2nd Jan.
Yep this happens from time to time, just a matter of a routine check before one starts. Or use a wall clock for the time like me.

The reason I have the cycle lines on there is for the benefit of you guys
  • #1,182
  • Jan 17, 2019 4:43am Jan 17, 2019 4:43am
Quoting aud
Anyone find their Cycle Lines got messed up over Christmas / New Year. Mine moved 2 bars to the right on 26th Dec and again on 2nd Jan.
Someone posted an indi, works good I have found

https://www.forexfactory.com/showthr...6#post11799016
life is a reflection of what we allow ourselves to see
  • #1,183
  • Jan 17, 2019 4:50am Jan 17, 2019 4:50am
Quoting Nala66
The Div failed to cross the EMA so we should see a HH, All that was a test of the bullish support
Hi, Alan

Question, if you don't mind. What moment do you know that the Div failed to cross the EMA (Is it 2 bar test ?) Or some thing else?
  • #1,184
  • Jan 17, 2019 4:53am Jan 17, 2019 4:53am
Quoting Gleam
{quote} Hi, Alan Question, if you don't mind. What moment you know that the Div failed to cross the EMA (Is it 2 bar test ?) Or some thing else?
See how the tail of the bar crossed but the bulls said no no no and pushed it back to close, I would say that was bearish failure, wouldn't you?

Then it ran back up only to hit a hidden div so down it went again.

This is rubbish trading time now, we need to see a break into open territory.
  • #1,185
  • Jan 17, 2019 4:55am Jan 17, 2019 4:55am
Quoting mikeeating
{quote} Someone posted an indi, works good I have found https://www.forexfactory.com/showthr...6#post11799016
Thanks mike.
Good Trading
  • #1,186
  • Jan 17, 2019 4:57am Jan 17, 2019 4:57am
Quoting Nala66
{quote} See how the tail of the bar crossed but the bulls said no no no and pushed it back to close, I would say that was bearish failure, wouldn't you? Then it ran back up only to hit a hidden div so down it went again. This is rubbish trading time now, we need to see a break into open territory.
Ok, thanks.
  • #1,187
  • Jan 17, 2019 4:59am Jan 17, 2019 4:59am
If the bulls don't break this top swing level soon I would imagine the bears will give it a bashing
  • #1,188
  • Edited 6:00am Jan 17, 2019 5:00am | Edited 6:00am
Hi all

I've not posted on this forum in anger for about 5 or 6 years now, rarely do I look in but I happened to stumble on Alan's thread and ended up reading the whole thing. This seems a genuinley good method and the OP is a helpful chap who shows a lot of restraint and patience from what I can see I can see some of you posting charts with real winning trades on too so that's always a good sign (Riaan). Would like to get involved myself at some point but I cannot use MT4 on my machine at work and I sit at a dealing desk in London from 8 am UK time! Ironic! The issue is there is no other trading software that I can use where I can overlay an RSI over an RSI, unless any of you guys know of one? It would need to web based and MT4 webtrader does not have the overlay option.

With regard to the cable chop as you all may or may not know, Brexit dominates the headlines here and is pretty much the main driver of Cable moves. The whole Brexit process is still undecided and pretty much in limbo so expect more chop and the occassional big price swings.

Good luck to you all.

Daz
Keep smiling
  • #1,189
  • Jan 17, 2019 5:00am Jan 17, 2019 5:00am
Ha and there go the bulls... (Maybe!)
  • #1,190
  • Jan 17, 2019 5:03am Jan 17, 2019 5:03am
Again it ran into regular div
  • #1,191
  • Jan 17, 2019 5:09am Jan 17, 2019 5:09am
Now trying to break the new bull support
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  • #1,192
  • Jan 17, 2019 5:34am Jan 17, 2019 5:34am
And there they go a bounce off the bull support and now in open country

See what happens tomorrow
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  • #1,193
  • Jan 17, 2019 6:43am Jan 17, 2019 6:43am
Quoting Nala66
{quote} Very good work Jazz, The divergence came at the target anyway so a nice winning result,,, Here's my chart {image}
Alan, in this old chart:

  1. The 1st entry is at the RSI bullish div
  2. The 2nd entry is because of the valley on the RSI?
  3. What signal makes you take 3rd entry?

Thank you!

  • #1,194
  • Jan 17, 2019 7:18am Jan 17, 2019 7:18am
So, 2953 is now on the radar in spite of all the hiccups
  • #1,195
  • Jan 17, 2019 8:06am Jan 17, 2019 8:06am
Quoting hocius
{quote} Alan, in this old chart: The 1st entry is at the RSI bullish div The 2nd entry is because of the valley on the RSI? What signal makes you take 3rd entry? Thank you!
I don't really need a signal once the trade gets underway I just go with the confidence of knowing I can always hedge the trade if need be.

Understand I only need to use the three entry approach until I get my first K in profit, from then on things get a lot easier having lots of backup money to take the better trades to the maximum. Currently I am entering with 1.8 lots that is $25 a pip and follow this up with a 3.6 trade so in all I am at $75 a pip. It doesn't take many pips at that rate to make good money with the confidence I am playing with the markets money. At the end of this month I will start again with my profits safely in the bank.

This is where I believe people go wrong, they look for percentages of the account whereas I target specific sums. People fail to hedge whereas I find it very profitable to do so. People worry too much about losing and fail to let themselves get stopped out whereas I don't let that bother me at all. We cannot get it perfect all of the time but people insist on looking for the holy grail that lets them win all the time. Losses should be kept small in proportion to the account so we always have the opportunity to have another go. Never add to a losing trade that is a mugs game and never hedge a losing trade. Don't overtrade, it takes a lot of effort to stay on the ball for a few hours and there will always be another day to trade, make the profit target the amount the market is will to pay you. If the signal says get out then do so, don't expect a miracle.

I am busy writing all this up and a lot more besides and appreciate all the questions you guys put forwards so I can include the answers in my writings.

Sorry about the waffle to a short question hocius
  • #1,196
  • Jan 17, 2019 8:07am Jan 17, 2019 8:07am
Quoting Bydyke
So, 2953 is now on the radar in spite of all the hiccups
Where does the 2953 come from?
  • #1,197
  • Jan 17, 2019 8:09am Jan 17, 2019 8:09am
Quoting Nala66
{quote} I don't really need a signal once the trade gets underway I just go with the confidence of knowing I can always hedge the trade if need be. Understand I only need to use the three entry approach until I get my first K in profit, from then on things get a lot easier having lots of backup money to take the better trades to the maximum. Currently I am entering with 1.8 lots that is $25 a pip and follow this up with a 3.6 trade so in all I am at $75 a pip. It doesn't take many pips at that rate to make good money with the confidence I am playing...
No worries, your insights are always welcome!

A question regarding profits: once you have been trading for a year (lets say) and you have huge profits like 100k (lets imagine). Apart from our usually daily trading system, you don't use some kind of swing trading to get some rentability from those yearly profits?

Thank you
  • #1,198
  • Jan 17, 2019 8:46am Jan 17, 2019 8:46am
Quoting hocius
{quote} No worries, your insights are always welcome! A question regarding profits: once you have been trading for a year (lets say) and you have huge profits like 100k (lets imagine). Apart from our usually daily trading system, you don't use some kind of swing trading to get some rentability from those yearly profits? Thank you
Well I am good but not that good to make 100K in a month because I withdraw monthly so it wouldn't get that huge in a year.

No swing trading for me, I like to sleep at night. We used to leave a trade on the books we called the Moss trade because it just sat there gathering moss but I found this more of an inconvenience than an asset because I like to use a close all script on the navigator to quickly shut down the trades rather than have to close them one at a time manually of course this would also shut down the Moss trade also.


I just don't see the point at all with swing trading, perhaps someone here could tell me something I have not already heard.

Look at this last trade on the 1 hour, it has been climbing from the swing average for 6 or 7 hours whereas I was done and dusted ages ago. It may well reach the 29905 but I am not waiting around for it to do so.
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  • #1,199
  • Edited 9:07am Jan 17, 2019 8:55am | Edited 9:07am
Quoting Nala66
{quote} Well I am good but not that good to make 100K in a month because I withdraw monthly so it wouldn't get that huge in a year. No swing trading for me, I like to sleep at night. We used to leave a trade on the books we called the Moss trade because it just sat there gathering moss but I found this more of an inconvenience than an asset because I like to use a close all script on the navigator to quickly shut down the trades rather than have to close them one at a time manually of course this would also shut down the Moss trade also. I just...
I said swing trading but I mean anyway to take some rentability from our savings made from daytrading profits. You could also say other ways of investment like Buy and Hold. The point is to not keep the savings on the bank since they give you like no interest and you end up losing money from the inflation.

Sorry if I don't explain myself very well, my English leaves much to be desired.
  • #1,200
  • Jan 17, 2019 9:10am Jan 17, 2019 9:10am
Quoting hocius
{quote} I said swing trading but I mean anyway to take some rentability out of our savings made from daytrading profits. You could also say other ways of investment like Buy and Hold. The point is to not keep the savings on the bank since they give you like no interest and you end up losing money from the inflation. Sorry if I don't explain myself very well, my English leaves much to be desired.
Well I have to withdraw in order to eat and pay the bills.

Sure there are other ways to invest but I already have that covered.

I am 70 years old so I am reluctant now to buy green bananas let alone look for other investments.

I don't know what you mean by the term rentability.

Off to bed now so will catch up tomorrow.
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