Daily Cable Analysis

Quoting Leugimp

Disliked

...or someone sold at the market and the only price available was down there.

Ignored

Quoting fxpinoy

Disliked

What do you think caused this huge spiked down?

http://i143.photobucket.com/albums/r...y/1f44601e.gif

Ignored

Quoting cesarnc

Disliked

Are we about to have another "Lousy Monday" ?

Ignored

Quoting cesarnc

Disliked

Are we about to have another "Lousy Monday" ?

Ignored

Quoting 5leepless

Disliked

I actualy like the range its in at the moment. Just crank up the leverage and scalp

Ignored

Quoting cesarnc

Disliked

Perfect! But in the 5 min candle that I try this, we're having a 200 pips breakout!

Editing: AGAINST ME, of course.

Ignored

Quoting fxpinoy

Disliked

What do you think caused this huge spiked down?

http://i143.photobucket.com/albums/r...y/1f44601e.gif

Ignored

Quoting cesarnc

Disliked

Hey henrycarol,

Would you mind calling your fellas to sell a few bucks, please?

Ignored

Quoting henrycarol

Disliked

I think they just woke up....so be patient

Ignored

Quoting jacko

Disliked

Well...my first trade on the GBP this year looked a loser....

HOWEVER.........

This trade is a good example of how the Jacko "anti-hedging" strategy works to save your ass and make a good profit from a bad initial decision.


1. You sell the GBP at 1.9750... (Guess what, you are wwwwrong and the market shoots up like it has been shot in the ass)
2. It hits your stop at 1.9800
3. The market continues to more than 1.9875 (GBP is a little more volatile than Euro which is what I trade..)

4 At 1.9875, you place a Sell Stop order at 1.9800.

5. (a) If the market keep going up, your sell order is NOT triggered.
(b) If market trend reverses, it will eventually come back to 1.9800 and your sell is triggered at the price that you were stopped out...but the trend is now in your direction..

Once it comes back past 1.9750, you are in profit and in the correct trend direction. Put a trailing stop of 50 pips and continue to make money.


THE ADVANTAGES OF THIS STRATEGY IS THAT
a. IT HAS AN EFFECTIVE AND DISCIPLINED COURSE OF ACTION
b. IT GIVES YOU A SPECIFIC "ENTRY" POINT
c. IT REDUCES LARGE DRAWDOWNS
d. IT PUTS YOU BACK IN THE MARKET EXACTLY WHERE YOU GOT OUT


I have now been using this strategy for a couple of months in the Euro and it is working brilliantly.

Ignored

Quote

Disliked

Hi, my name is DXXX. I admire your position trading and anti-hedging strategy. I wish to learn more from you if you dont mind, and not busy

SEE BELOW

A little more about me. My concept in trading is to buy at support and sell at resistance. I'm seeing support as a price that considered to be 'cheap' by the market, and resistance is otherwise. My method to see which line is the support/resistance is when price touch that line, bounced, and come back near that line, and does another bounce (retest). This line could be anything from trendlines/fibbonacci/prev swing high/low. My trigger is this retest. This is a good rationale for entry points. I use ONLY trend lines, 50% Fibs and "round numbers (1.2900, 1.3000 etc)

Things that I still want to learn much is your anti-hedging strategy. I'm pretty sure you wont do this anti-hedging if you dont quite sure that it will go to your entry direction. I use this strategy EVERY time now. The Euro is very trendy, so the trends normally are worthwhile. Worse case scenario that could happen in this anti-hedging is when price touch your anti-hedge entry, and bounced to your stop loss. Yes. That would be mean double loss. Yes, but you would have to be unlucky for it to happen often. It has NOT happened yet in about 8 months of using this strategy.

1st question is:
How do you judge that which trade that should be covered by this anti-hedge? Every trade

Lets just see example : at 8 Dec 2006 EUR/USD, there's my entry, a retest at prev swing high, and price rejected hard. I enter on next open day with 170 pips SL (high of retest bar). 170 pip SL is too big for EUR...50 is sufficient to tell you that you are wrong. Also, 170 pip losses are too hard to recover.

2nd question is:
I mean, how do you judge how much SL to use (which is 50 pips from some of your trade that you post), and when to enter trade better (perfect timing that u use to enter your trade) perfect timing is only seen some time AFTER you have entered the trade...don't waste time looking for it

3rd question is:
How is your method to know that trend still continuing or is about to fail. Or where are those big boys set their target? (like now, on EUR/USD, my target is support trendline that drawn on weekly chart, but i'm not sure, market seems hesitate to cross 50% fib retracement from 1.2483 to 1.3361 rally.) 50% fib is the ONLY fib that I use for potential target prices...and with a lot of scepticism

4question.. (hehe sorry I ask too much ) :
Do you use trailing stop? Yes and re enter trade if price hit your trailing stop, but still not reach your target yet? (by using anti-hedge method offcourse, not direct re enter). No, I normally take a break for 24 hours and then have another look

finally... thankyou so much, I learn a lot from your posts. May you have a good life May you have a good life too

Quoting deyler

Disliked

How come you guys don't mention the (red-impact) news on cable?? Today at 6am there was a news release on Distr Trades. I am trying to learn everything on cable and what's going to move it but again you guys rarely mention this stuff

Ignored