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Cable Update (GBPUSD)

  • #242,321
  • Aug 2, 2010 7:26am Aug 2, 2010 7:26am
First trade just stopped me out at BE. Entered again.
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  • #242,322
  • Aug 2, 2010 7:28am Aug 2, 2010 7:28am
Quoting mdiz2
First trade just stopped me out at BE. Entered again.

That's because you got suckered into using the fake as a range and preempted the PA. Also keep your stops at the lower range, that's the whole point.

2 mins to NY.
  • #242,323
  • Aug 2, 2010 7:29am Aug 2, 2010 7:29am
Quoting 4xStar
Price has entered new box, I just put on top of previous one. Stop moved.

So far I'm in love with this new methodology ....
=======================================

I am no "Noob" but for me to read 243,000+ posts just to look for "what boxes are", is just a task where the risk : reward ratio is skew. Would you mind either referring me to what these "boxes" are and how they are constructed so as to make an informed comment, please?

Thanking you in anticipation.

Sincerely.
Hercs
  • #242,324
  • Aug 2, 2010 7:30am Aug 2, 2010 7:30am
Quoting Hercs
=======================================

I am no "Noob" but for me to read 243,000+ posts just to look for "what boxes are", is just a task where the risk : reward ratio is skew. Would you mind either referring me to what these "boxes" are and how they are constructed so as to make an informed comment, please?

Thanking you in anticipation.

Sincerely.

We are having a bit of a play on breakout trading and intermediate areas of consolidation, playing the PA interaction with ranges formed on lower TF's.
  • #242,325
  • Aug 2, 2010 7:34am Aug 2, 2010 7:34am
And an excellent 'mentor' cloggie is too.

I have learned nearly as much in this one thread as I have in all the months of trading I have done.

Congrats to all those who are willing too help us 'Noobs'
  • #242,326
  • Aug 2, 2010 7:36am Aug 2, 2010 7:36am
Quoting AdrianHNV
And an excellent 'mentor' cloggie is too.

I have learned nearly as much in this one thread as I have in all the months of trading I have done.

Congrats to all those who are willing too help us 'Noobs'

No mentor, just a grumpy old fecker that gets annoyed when people throw money away unnecessarily
  • #242,327
  • Aug 2, 2010 7:36am Aug 2, 2010 7:36am
Quoting Hercs
=======================================

I am no "Noob" but for me to read 243,000+ posts just to look for "what boxes are", is just a task where the risk : reward ratio is skew. Would you mind either referring me to what these "boxes" are and how they are constructed so as to make an informed comment, please?

Thanking you in anticipation.

Sincerely.
I will re-post this .. cut/pasted from Friday conversation where Cloggie was helping us understand his intraday trading methodology.
Attached.
Attached File(s)
File Type: doc Cloggie-4x-Conversation07-30-10.doc   25 KB | 409 downloads
******************* I'd rather make money than be right.
  • #242,328
  • Aug 2, 2010 7:37am Aug 2, 2010 7:37am
...
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  • #242,329
  • Aug 2, 2010 7:39am Aug 2, 2010 7:39am
Quoting cloggie
No mentor, just a grumpy old fecker that gets annoyed when people throw money away unnecessarily
Ah HA .. you admit you're a gruff ol' Dutchman .. sort of a Dutch Uncle???

Why do you say NY opens at 8:30 am NY time?
Market opens at 9:30 .. pre-market trading begins at 8 .. ?
******************* I'd rather make money than be right.
  • #242,330
  • Aug 2, 2010 7:39am Aug 2, 2010 7:39am
cloggie, please could you advice me if there is any possibility of reversal at 15850 after US news as I am absolutely novice and invested too much funds.
  • #242,331
  • Aug 2, 2010 7:40am Aug 2, 2010 7:40am
Quoting 4xStar
Ah HA .. you admit you're a gruff ol' Dutchman .. sort of a Dutch Uncle???

Why do you say NY opens at 8:30 am NY time?
Market opens at 9:30 .. pre-market trading begins at 8 .. ?

Sorry, open outcry CME. (even though the only outcry left is cattle)
  • #242,332
  • Aug 2, 2010 7:40am Aug 2, 2010 7:40am
Quoting cloggie
No mentor, just a grumpy old fecker that gets annoyed when people throw money away unnecessarily
I personal fully respect and appreciated of what cloggie giving guide here.
Thank you cloggie.
  • #242,333
  • Aug 2, 2010 7:41am Aug 2, 2010 7:41am
Here's what my 'river box' trade looks like now...
apart from everything else, this would definitely keep me from top-picking (head licer) because unless price falls out of a box, there is no thought of shorting... this methodology keeps you focused on what price is doing not what you think it 'should' be doing....
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******************* I'd rather make money than be right.
  • #242,334
  • Aug 2, 2010 7:43am Aug 2, 2010 7:43am
Quoting 4xStar
Here's what my 'river box' trade looks like now...
apart from everything else, this would definitely keep me from top-picking (head licer) because unless price falls out of a box, there is no thought of shorting... this methodology keeps you focused on what price is doing not what you think it 'should' be doing....

Don't go ignoring your TL's now.
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  • #242,335
  • Aug 2, 2010 7:45am Aug 2, 2010 7:45am
Quoting cloggie
Don't go ignoring your TL's now.
Already taken profit on one lot, letting the others ride with trailing stop just below tl. Thanks
******************* I'd rather make money than be right.
  • #242,336
  • Aug 2, 2010 7:52am Aug 2, 2010 7:52am
Quoting 4xStar
Already taken profit on one lot, letting the others ride with trailing stop just below tl. Thanks

I just took my profit of that last break. Looking for the next one.
  • #242,337
  • Aug 2, 2010 7:53am Aug 2, 2010 7:53am
Just added another lot to scale into my shorts
Dr. C
  • #242,338
  • Aug 2, 2010 7:53am Aug 2, 2010 7:53am
Out at 72, she was getting too stratospheric for me!

Beautiful first RB trade .. if they all go like this, I will soon be on my private island & you are all welcome . I'll send a Lear jet to pick up Cloggie...
******************* I'd rather make money than be right.
  • #242,339
  • Aug 2, 2010 7:55am Aug 2, 2010 7:55am
Quoting 4xStar
Out at 72, she was getting to stratospheric for me!

Beautiful first RB trade .. if they all go like this, I will soon be on my private island & you are all welcome . I'll send a Lear jet to pick up Cloggie...

They do all go like that, the open gave us 150 pips today, a bit more then average for the summer.
  • #242,340
  • Aug 2, 2010 7:55am Aug 2, 2010 7:55am
Quoting cloggie
That's because you got suckered into using the fake as a range and preempted the PA. Also keep your stops at the lower range, that's the whole point.

2 mins to NY.
Should have read this sooner. Set second trade to BE to soon and got taken out. Think it may be best to sit on the sidelines and watch now. I can see how well this can work and appreciatre you sharing with us Cloggie.
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