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Trading the Cable swings via averages

  • #7,481
  • Dec 23, 2021 1:17am Dec 23, 2021 1:17am
Quoting Nala66
Also on the 1 hour look how the bear support lines (black) have become bull resistances. {image}
Alan:

Do you do this on H4 chart and take it as a S&R ZOO?
  • #7,482
  • Dec 23, 2021 2:55am Dec 23, 2021 2:55am
Quoting Nala66
{quote} Yes you are correct. The example I gave was to show how taking the signals makes back your mistakes. It was not a trade I took.
But sometimes when our signal was wrong, thus being stop out and at the same time, market turn and surge, we are suppose to re-enter market in opposite direction, our indicators however shown it is already extreme that worth for retracement, but it doesn't look back and just leave the station, making us felling too risky to chase the train (market).

In hindsight, it is an early stage and there are way much juice left to be tapped. In this type of situation, may I know how Alan handle the extreme indicators to time the reentry?
  • #7,483
  • Dec 23, 2021 5:21am Dec 23, 2021 5:21am
Quoting limth
{quote} But sometimes when our signal was wrong, thus being stop out and at the same time, market turn and surge, we are suppose to re-enter market in opposite direction, our indicators however shown it is already extreme that worth for retracement, but it doesn't look back and just leave the station, making us felling too risky to chase the train (market). In hindsight, it is an early stage and there are way much juice left to be tapped. In this type of situation, may I know how Alan handle the extreme indicators to time the reentry?
Who said you have to re-enter in the opposite direction. Being stopped out only gives you pause for thought, time to consider if your analysis was correct or not.

It would be risky to chase the train if you were well into the session when doing so. The trick is to get in while the market is getting going.

To time the re-entries simply trade the signals on the pull backs in the correct direction.
  • #7,484
  • Dec 23, 2021 5:26am Dec 23, 2021 5:26am
The last thing we want to even think about is if our signal was wrong.

Yesterday I showed how simply trading the signals wins the day if not the hour.

If risking a trade is bothering you then you are probably not trading with money management and so exposing yourself to too much risk.

Don't sweat the small stuff
  • #7,485
  • Dec 23, 2021 5:28am Dec 23, 2021 5:28am
Quoting limth
{quote} Alan: Do you do this on H4 chart and take it as a S&R ZOO?
I'll look at any ZOO point because all of them are Zones Of Opportunity.
  • #7,486
  • Dec 24, 2021 2:29am Dec 24, 2021 2:29am
Seasonal greetings and have a great holiday everyone.

I should have a new headset next year hoping the post keeps up with demand, I just can't get this current set to work with Skype.

Looks like we may be heading into more covid stay home stuff, I hope everyone takes it seriously and stays safe.

Don't know if I am going fishing or not, better to limit travel as much as possible and allow the fish to grow a tad bigger.

See Y'all in the new year I hope....

Best wishes
Alan
  • #7,487
  • Dec 24, 2021 2:51am Dec 24, 2021 2:51am
Quoting Nala66
Seasonal greetings and have a great holiday everyone. I should have a new headset next year hoping the post keeps up with demand, I just can't get this current set to work with Skype. Looks like we may be heading into more covid stay home stuff, I hope everyone takes it seriously and stays safe. Don't know if I am going fishing or not, better to limit travel as much as possible and allow the fish to grow a tad bigger. See Y'all in the new year I hope.... Best wishes Alan
Cheers Alan,

All the best to you and your family at Xmas and next year

Des...
  • #7,488
  • Dec 24, 2021 3:08am Dec 24, 2021 3:08am
Best wishes Alan and to the rest of you guds!
  • #7,489
  • Dec 24, 2021 3:14am Dec 24, 2021 3:14am
Best wishes to Alan and everyone on this thread
  • #7,490
  • Dec 24, 2021 10:05pm Dec 24, 2021 10:05pm
Wishing Alan and to the res of this thread celebrating a Merry Christmas....have a happy and wonderful celebration of new year 2022 as well...
  • #7,491
  • Dec 25, 2021 6:02am Dec 25, 2021 6:02am
Merry Christmas and a happy New Year to all
  • #7,492
  • Dec 28, 2021 3:53am Dec 28, 2021 3:53am
Hello everyone, hope you all had a great Christmas with friends and family.

Hi Alan, I'm reviewing your thread (again )) something that bother me, I thought I understand hedge, but seems like I missunderstand something: when you put a hedge, do you close all your entry? or you just keep them running? as in post 253

Peter
  • #7,493
  • Dec 28, 2021 6:39am Dec 28, 2021 6:39am
Quoting Pettra
Hello everyone, hope you all had a great Christmas with friends and family. Hi Alan, I'm reviewing your thread (again )) something that bother me, I thought I understand hedge, but seems like I missunderstand something: when you put a hedge, do you close all your entry? or you just keep them running? as in post 253 Peter
Once you have a position you believe is going somewhere it will often run into a set back of sorts and may make a pull back on say the 5 min chart due to a div.

These are what we look to hedge and they may or may not last very long. Once the hedge is place the entire trade is protected from any furtherloss or any further profit is just remains locked up.

We then have to decide which we want to close, the primary trades or the hedge. Most often it is going to be the hedge and we may well have made a few pips profit from it at our full trading rate so it is worth a few dollars to us.

If the price then turns again in our desired direction we make to same pips twice and so we can reduse our target distance.

Hope that makes sense.
  • #7,494
  • Dec 28, 2021 3:24pm Dec 28, 2021 3:24pm
Quoting Nala66
{quote} Once you have a position you believe is going somewhere it will often run into a set back of sorts and may make a pull back on say the 5 min chart due to a div. These are what we look to hedge and they may or may not last very long. Once the hedge is place the entire trade is protected from any furtherloss or any further profit is just remains locked up. We then have to decide which we want to close, the primary trades or the hedge. Most often it is going to be the hedge and we may well have made a few pips profit from it at our full trading...
So it flexible then, thanks Alan for explain. Looking forward to your new headset
  • #7,495
  • Dec 29, 2021 9:22pm Dec 29, 2021 9:22pm
Good day everyone, how your holiday so far? I'm getting bored now at Christmas time and continuing my reading post-by-post. Just curious: how many of you still using this method? So many ppl showed up with a good result, good analysis and then disappeared after a while, its so funny.

Peter
  • #7,496
  • Dec 30, 2021 1:05am Dec 30, 2021 1:05am
Quoting Pettra
Good day everyone, how your holiday so far? I'm getting bored now at Christmas time and continuing my reading post-by-post. Just curious: how many of you still using this method? So many ppl showed up with a good result, good analysis and then disappeared after a while, its so funny. Peter
Petra

My advice is if you find this thread useful is stick to it.
Read the posts especially from Alan a few times.
Every time I come back i find something useful

IMHO this thread is a goldmine .
It's up to you do do some digging to find your way in trading to get your own pot of gold.

I use the basis of this system with different MM.
And i would think there are others who do the same.

Hope this helps.

Del
  • #7,497
  • Dec 30, 2021 3:09am Dec 30, 2021 3:09am
Quoting Del62a
{quote} Petra My advice is if you find this thread useful is stick to it. Read the posts especially from Alan a few times. Every time I come back i find something useful IMHO this thread is a goldmine . It's up to you do do some digging to find your way in trading to get your own pot of gold. I use the basis of this system with different MM. And i would think there are others who do the same. Hope this helps. Del
Thanks Del, I have no other system so will stick here for sure )
  • #7,498
  • Jan 4, 2022 1:29am Jan 4, 2022 1:29am
Quoting Pettra
Good day everyone, how your holiday so far? I'm getting bored now at Christmas time and continuing my reading post-by-post. Just curious: how many of you still using this method? So many ppl showed up with a good result, good analysis and then disappeared after a while, its so funny. Peter

I can't speak for others, but the reason i don't speak as much, is I have the system working quite well.

So unless we have questions we really don't reply.

You will find 3 types here:

1 here beginning,

1 who have got the system going and just look to see if they can get any new/evolved insight from Alan

1 who still for whatever reason have not truly understood the method. However post less.
  • #7,499
  • Jan 6, 2022 3:54am Jan 6, 2022 3:54am
A belated Happy New Year and the best of luck to you all in 2022.
  • #7,500
  • Jan 6, 2022 3:56am Jan 6, 2022 3:56am
As we begin another year I thought I would reflect on what this particular thread - started just over three years ago now by Alan Dewett, set out to do.

He stated the method was ‘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.’

After nearly 7,500 posts by hundreds of different participants from all over the world I would like to find out where people are at with this trading method.

Alan is very generous with his time and offers to help anyone with trading. All comers – old and new, are encouraged and at times must try his patience as he answers similar questions over and over again either because people haven’t read the thread or have read the thread but simply don’t understand something.

However, starting back at page one and going forward through the thread, I looked at all the names of those eager to learn another way to trade Forex and to me it posed some interesting questions:-

a) Where are these people at now with their trading?
b) Why do we not see their names on this thread anymore?
c) Did they all understand the method and are now successfully making money?
d) If they are doing well why are they not contributing to the thread to help others?
e) Do we not see them on this thread because they did not succeed with this method so went looking for other methods on other threads?
f) Have they given up trading altogether?

To give Alan a bit of a break from writing, I would be interested to read testimonies from any of you that have succeeded with this method and have gone on to make money; even a living from trading Forex.

From my point of view I am doing ‘ok’ but all that means is I am not losing money any more, but then I am not making as much as I would like to either.

As I said in my last post at 7458 the hardest lesson for me to learn trading Forex was to get out of a losing trade quickly. I wasted too much time in the past waiting for trades to turn round and head in my direction. Too much precious time!!
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