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Cable Update (GBPUSD)

  • #262,001
  • Oct 27, 2010 3:51am Oct 27, 2010 3:51am
Quoting AdrianHNV
Heads up folks...............


10:20am GBP MPC Member Bean Speaks
Could be why the dragon is draggin....
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Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
  • #262,002
  • Oct 27, 2010 3:51am Oct 27, 2010 3:51am
Quoting Magix
I have worked with the 200EMA and found some very distinct advantages, and on all time frames. Using a faster moving average, which I will toggle between the 20EMA and the 24SMA depending on my mood, I will use them to let me know if we are long or short chart and if we are with the long term trend or in an immediate.
I plot it on the MACD (20,200,1 as you specify), looks good, as good as anything else anyway

Shame MT4 doesn't allow SMA/EMA MACD to test what it looks like 24SMA/200EMA. But you get the idea.
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Quote
Throw enough crap on your chart, something is bound to make sense.

As you say.

Quote
Have a little fun whilst waiting on your trades to mature. Take a 200EMA and 20 EMA, plot them on your chart. Watch movement as they cross. A 1m chart can be the teller of the day, and something I particularly watch for during NY open. 100 pips. When you see the pair of them cross, mark a vertical line, then move on 100 pips higher/lower depending on the direction of the cross. See how there is a reaction within 5 of the line going back as far as you historically want to check. Just one way of looking at the same thing.

See above!

Quote
Several things I watch for, 12 charts per pair. 3 different tpls and all time frames. What do I see...<Shrugs Shoulders>, a lot less of my family then I probably should....

A lot of work! High trading costs mate! I trade cable on the daily and rarely 4hour plot. Trading cost is less than 10 pips a month usually, this is a big factor for me, forex spreads (even ECN, although I like Dukascopy) are effectively too high to trade intraday using my edge. Understand that plenty of others are good at it, I wish them all the green % in the world.

Quote
I watch true fibs on true daily open. I watch hulls by way of the no lags. I watch the moving averages and I watch all time frames. I am only looking for a couple of grab asses per play..Multi lotted up, worked out to be close to 650 over the last 24hrs...

650%? 650 pips? What's that in % of your balance and relative to your amount risked, if you don't mind me asking? Your costs for the last 24h hours (spread, commissions) add up to what % of that 650? If 650 is your up day, what's your down day look like?

Sorry to be nosey, just got some free time on my hands tonight, finding this forum very interesting.
  • #262,003
  • Oct 27, 2010 3:52am Oct 27, 2010 3:52am
Quoting Magix
I have worked with the 200EMA and found some very distinct advantages, and on all time frames....

Hey Magix

Big thank you for your MA crossover on the M1. It sounds like a nice extra to add to the armoury as I have steered clear of NY open but will watch again with interest. Aside from the NY open, what sort of pips do you average on the 200/200 crossover? Just ballpark?
  • #262,004
  • Oct 27, 2010 3:53am Oct 27, 2010 3:53am
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  • #262,005
  • Oct 27, 2010 3:54am Oct 27, 2010 3:54am
Quoting Magix
A quickie taken on rejection, will watch for a little more meat on the bone.

Ride em up, ride em down, ride em up, ride em down.
1hr chart shows the potential sbr - the previous swing lo x 3 zone, and a decent 5min hidden div set-up with bearish engulf trigger...am concerned that it came @ a HH on this 5min though although still @ a LH on 30min/1hr...scalp target for me therefore....+10 taken and closed for profit.

Finising here for day


G/L
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ex member
  • #262,006
  • Oct 27, 2010 4:03am Oct 27, 2010 4:03am
Quoting Delite
Hey Magix

Big thank you for your MA crossover on the M1. It sounds like a nice extra to add to the armoury as I have steered clear of NY open but will watch again with interest. Aside from the NY open, what sort of pips do you average on the 200/200 crossover? Just ballpark?
Watching the x...and taking the counters, it really depends on when I see that 100 come into play and where price moves with the 20. A strong close above and hulls line pending, I will take what I get and get the eff outa Dodge.

The 20/200 will cross everyday. So, no matter how high or low she goes, when you cannot always count on the daily pivot, you can always count on them 2 crossing back. Convinced of direction...wait until they cross, you will see spike low on the reversal at their cross, take exit on counters there and look to load up for direction.

I hammer through trades like a fat kid threw skittles, and have begun to learn how not to see the word REQUOTE with my current broker. Again, stock trick, sell strength, buy weakness, watch for the exits the same.

Back the the 200 x thang....IF there has been no 20x200 x after the bells of London, I will load the boat. I know its coming, fast and hard so pick no bones about it. IF I see the x as NY is opening, I will again, load the boat on direction dejour. I know Ima get me some easy money.

I don't take a lot of time discussing these plays, typically prefer to coach folk to go with the trends...something to keep an eyeball on, and who knows when it gunna turn you a couple of bucks???
Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
  • #262,007
  • Oct 27, 2010 4:04am Oct 27, 2010 4:04am
Quoting bbmac
1hr chart shows the potential sbr - the previous swing lo x 3 zone, and a decent 5min hidden div set-up with bearish engulf trigger...am concerned that it came @ a HH on this 5min though although still @ a LH on 30min/1hr...scalp target for me therefore....+10 taken and closed for profit.

Finising here for day


G/L
Nice trades there BB, always appreciate a look at your charts mango...enjoy the soggy tongue time!
Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
  • #262,008
  • Oct 27, 2010 4:04am Oct 27, 2010 4:04am
Quoting Magix
But at least he has hindsight charts....

Kinda like doughnut boy NENE!

Buwahahahahaha

Wonder how doughnut boy is these days, he quit posting here for some reason?
Doughnut boy is still around... I wonder how is Holy Grail EA is working out? I haven't checked his thread recently. I might just have a quick gander to see if it is doing 100 wins and 0 losses now. Maybe he doesn't like the company on this thread... lol

Now our aformentioned lunatic has a new indicator every week. I wonder what his next one will look like. Maybe it will enough bells and whistles it will look like an Xmas tree... lol

I am focusing on EU at the moment as a nice down channel has formed and I expect a proper bounce around 1.37 which would line up with the supply level on DIX.
  • #262,009
  • Oct 27, 2010 4:10am Oct 27, 2010 4:10am
Quoting ikdenk
Rumour has it that Cloggie is too buzy after poisoning the Octopus that caused Holland to lo(o)se to Spain in the WorldCup
I Wish to see Cloggie get back on this thread again.
  • #262,010
  • Oct 27, 2010 4:13am Oct 27, 2010 4:13am
I'm switching to half-lot size tickets during the next hour as we have a GBP peach in 5 minutes or so and it can sometimes be volatile....
  • #262,011
  • Oct 27, 2010 4:15am Oct 27, 2010 4:15am
Quoting bbmac
1hr chart shows the potential sbr - the previous swing lo x 3 zone, and a decent 5min hidden div set-up with bearish engulf trigger...am concerned that it came @ a HH on this 5min though although still @ a LH on 30min/1hr...scalp target for me therefore....+10 taken and closed for profit.

Finising here for day


G/L
Hi bbmac,

Great to see you in action and your thoughts while it played out.

At a profit of +10, what is your cost on the trade? The best spreads I can get on GBPUSD vary between 0.3-2 pips. Assuming you fill and exit on say, a 1 pip spread with no commission, that is still 10% of your profit in costs. Very high. How do you get away with that, most successful intraday traders I know aren't happy to pay more than 4% in costs per trade! Your liquidity provider must be astounding!
  • #262,012
  • Oct 27, 2010 4:15am Oct 27, 2010 4:15am
Quoting NoahEffect
650%? 650 pips? What's that in % of your balance and relative to your amount risked, if you don't mind me asking? Your costs for the last 24h hours (spread, commissions) add up to what % of that 650? If 650 is your up day, what's your down day look like?
The account I am currently working on is for a friend...wink wink...I have only taken a fist full of my own trades this week..

650 is pip count, approximated by dollars gained. Few more bux on the jpy pairs even up dixies on the usd. Today has been an exceptional day, but a lot in part due to a nice risk on dragons 200...

I don't do percentages, don't work with targets...if I am around to hammer trades, thats just what I do...I know when I am done...

I really don't give a shit what the brokers make. End run, all I care about is what I make. As a Canadian, penny markets where representation was shit and $60 round trips for partial fills...Forex rocks...quick ins and outs, spreads easily covered, profit always in the bag.
Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
  • #262,013
  • Oct 27, 2010 4:17am Oct 27, 2010 4:17am
Quoting Magix
I hammer through trades like a fat kid threw skittles,

Ha! Loving that!

You could filter the crosses though, so you only take them in the direction of the current trend. No need to take every cross (coward that I am!).

Yesterday, 12noon-ish BST EU was a classic example.

Do you ever sleep?!
  • #262,014
  • Oct 27, 2010 4:21am Oct 27, 2010 4:21am
Quoting bbakker
Doughnut boy is still around... I wonder how is Holy Grail EA is working out? I haven't checked his thread recently. I might just have a quick gander to see if it is doing 100 wins and...
It's gotta be doing better then he was...even if it just loses money slower....

New indicators are fun. I know I find a new one or 2 to play with weekly if not daily, but always come back to the same. Any extra edge...

Right now...I am peripherally focused on my pillow...been a long day, need a few winks before NY opens...

Have a good one B..
Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
  • #262,015
  • Oct 27, 2010 4:25am Oct 27, 2010 4:25am
Quoting Magix

I really don't give a shit what the brokers make. End run, all I care about is what I make.

.Forex rocks...quick ins and outs, spreads easily covered, profit always in the bag.
Fully agree Magix, I really can't understand what all the fuss is about with the brokers making a profit, if it wasn't for them the vast majority of 'retail traders' wouldn't even be able to make anything in FOREX as the minimum account balances would be too high.



Although unlike you.....................not as experienced either I admit...... I do like to have daily Targets and do close my platform once they are reached, whether it bee within 2, 4, 6, 8 hours or whatever. Maybee in time I will be less reliant on the daily targets
  • #262,016
  • Oct 27, 2010 4:25am Oct 27, 2010 4:25am
Quoting Delite
Ha! Loving that!

You could filter the crosses though, so you only take them in the direction of the current trend. No need to take every cross (coward that I am!).

Yesterday, 12noon-ish BST EU was a classic example.

Do you ever sleep?!
Can't take every cross...they don't all pay.

If you apply the same strategy during Asian session or after NY closes, them lines weave, make ya go funny. And if that was the only thing you watched, you would run out of money chasing direction.

Throwing a 1000EMA onto your 1m chart will help keep you in the skinny. 1000 being the 200 from the 5m, if 200 is above, long chart, if 200 is below, short chart...watch for triggers and don't be to greedy.

Yes, I sleep...nodded off replying..

Off to catch a few, will catch u later..

Enjoy the day mango!
Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
  • #262,017
  • Oct 27, 2010 4:36am Oct 27, 2010 4:36am
Quoting Magix
Can't take every cross...they don't all pay.

If you apply the same strategy during Asian session or after NY closes, them lines weave, make ya go funny. And if that was the only thing you watched, you would run out of money chasing direction.

Throwing a 1000EMA onto your 1m chart will help keep you in the skinny. 1000 being the 200 from the 5m, if 200 is above, long chart, if 200 is below, short chart...watch for triggers and don't be to greedy.

Yes, I sleep...nodded off replying..

Off to catch a few, will catch u later..

Enjoy the day...
'tis true you cannot take every cross!

One method I have found to ensure that the cross is valid is to wait for the cross to occur but don't take the trade immediately. Wait for price to retrace back to the slower MA and then take the trade. If it lines up with supply and demand levels even better. I prefer it the other way round whereby I mark off the supply and demand levels and use the cross as confluence.

We all have different methods, but the key is to stick to the ones that are the most profitable for you!
  • #262,018
  • Oct 27, 2010 4:37am Oct 27, 2010 4:37am
I am looking for an intraday short around 1.5853-1.5963.
  • #262,019
  • Oct 27, 2010 4:40am Oct 27, 2010 4:40am
Quoting bbakker
I am looking for an intraday short around 1.5853-1.5963.
Maybe not, the way price just ate through that level... lol. I will wait for confirmation 1st!
  • #262,020
  • Oct 27, 2010 4:40am Oct 27, 2010 4:40am
Quoting bbakker
'tis true you cannot take every cross!

One method I have found to ensure that the cross is valid is to wait for the cross to occur but don't take the trade immediately. Wait for price to retrace back to the slower MA and then take the trade. If it lines up with supply and demand levels even better. I prefer it the other way round whereby I mark off the supply and demand levels and use the cross as confluence.

We all have different methods, but the key is to stick to the ones that are the most profitable for you!
Morning B!

Yes, the retrace is a good option - along with all the other bits and bobs we throw at the charts! As you say, its just getting the method that works for you. In a great deal of respects, faith in your method is everything. Well, maybe not if you are donoughnut man...
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