Anna-Maria

Folded remaining stakes on the pop back up off 9650 (out @ 61). Good UK news & this will spike, slipping my remaining position. Not worth the risk to hold at these levels. See if anything shapes up post-release.

Like Buk mentioned, I don't trade every day torero. In fact it averages out at approx 3 days per week across 3 or 4 repetative instruments on this strat, so not exactly an avalanche of scalping activity. But when situations set up, I like to step in & pump it. I rarely clip against the near term trend, preferring to run with the flow on the sub hourly charts. Occasionally I'll step in & fade price, especially when tentative s&r levels are in focus. This area up here on Cable this morning is one such example. The 30min has printed an inverted hammer & the 1-5m combo highlighting nervous bars at this pop through yesterdays highs. We're leading into more key UK data @ 4.30 EST & the swing players have no doubt pared off up at y'days highs. That only leaves the sharks & value sniffers lurking this morning, seeking a little each-way activity into the data release. The volumes on our ladder showed good red activity, hence my trigger off these small frame bars. Same procedure: 70% booked, trail the remainder off a b/e cut. If prices meander down into 4.30, & the trade remains 'live' I'll assess whether to fold or hold. It represents good risk (for me anyway) & is a typical play at hesitant highs/lows.

Traders will be looking for this weeks inflation & retail sales data to confirm the recent hike from the BoE though Buk, yeah? I mean, if the numbers print in-line then sure, the surprise hike is justified. If they're weak & our data continues to bouy the Dollar, then Cable could experience a near-term blow off. Most of this near term strength is due to the backwind Cable has attracted from recent data. The buck is holding it's own on the general stage, & not really reflected in Cables current levels? Your 9750, & certainly this 78.6 level (9650-80) is the close focus fulcrum early week. Will be interesting to witness the price action after 4.30 EST today. Consensus+ reading on the CPI & it's as we were so to speak. Weak output & they'll no doubt step in & cover.

Yeah, I'm calling it a wrap too up here just shy of the 138 extension. I don't think it's got too much left in the tank after the data print. We can see if it makes a move on Monday towards that zone + the 78.6 on the larger swing chart. Could well pull back to one of these lower support lines to guage the strength into next week. As Buko mentioned, it's been a day to snatch at it & grab what's been offered. Enjoy the w/end folks!

Ok, that's me cashed & flat. We'll see what else materializes during the morning, other than that good luck with your trading today folks

Buk & the longer term guy's will hold over w/ends. They will only generally run positions over if the entry (& profit pares) justify it however. By that I mean price needs to be at least 1.5c to the positive after the trade has returned pared out profits & an appropriate stop/risk level justifies the hold. True, the generic risk has to be considered, but to my memory, they've only experienced 2 occasions where they were slipped on a bad gap against the positions. It can happen, but like all trades, everything has to be considered carefully before making the decision.

Yeah, your target fits with my initial shunt North to y'days highs & the R1 Pivot zone. Hope it breaks & runs for you - good entry btw

Same procedure - remove half at the 23.6 & move all remaining stops up to the add-in entry to protect the position in case of an aggressive kickback

Added 25% back in here at the 5m p/b (9465 based on 1m candles), looking for a 2nd thrust thru the early topline @ the 23.6

15m printing neutral-negative bars up here at the 23.6 - 1m turning over slightly. Needs to kick here otherwise it's leaking gas & looks like re-testing the punch out of the 38.2/pivot line.

Sniffing around at this 23.6 minor barrier, nothing to worry bout at the mo. Given this is striking pre-London, I wouldn't want to be in it if it was to run out of steam here, hence the shift of remaining stakes to the b/e. It's either gonna pump or die back into the small pre-London tunnel. Either way, it's a fair risk-odds strike.

Booked +30 @ the 23.6 Fib - remainder to b/e.

Some pretty positive behaviour on the overnight activity kicking off the Pivot & 50% Fib line of the recent intraday barriers. Took a long based on the Hourly prints, 5m Band behaviour, triggering via the 1m candle higher low push thru 453. These types of fast trade entries are deemed short-term only shuffles up to & down to key prev day lines, where I'll look for immediate reaction. Slightest hesitation & I'm out on full size, otherwise I'll book 70% & run the remainder seeking follow thru where I'll judge the next potential level of s&r for continuation/compounding.

Well, now I've seen it all You attempting to jump ship & skeedaddle to the "serious" traders camp Mr Buko???? Tingull, you may as well be speaking Russian for all he can decipher. If I were you I'd aggressively discourage any lame attempts from that boy to whack you out explaining the rights & wrongs of index trading. Get back to your screens & earn us some dough, never mind freaking out the 'good guys'. :mad:

That's what we all strive for torero. I echo my brothers comments, in that everyone eventually finds their own comfort zone if they can get over the initial hurdles. It's important, if not imperative, that a trader plays to his/her strengths. Whether those strengths exist on the sub hourly charts or the +hourly is irrelevant. The markets exist & flourish because of a multi-mix variety of participants. There are no rules to say you can't trade sub 15m timeframes. Just because one person loses his pants on fast timeframes, doesn't equate to the next guy going down the same pan. We all experimented across the board when first starting out, & each one gravitated to the work which suited us best. Horses for courses is what I say. Congratulations on your recent success, keep it going!

Good question Cary, & by now ( I mean historically) you'll already know the answer to that! Never ignore the key announcements. Everyone & his dog (including us) has been caught out by the major Fundamental traps. You only really make that mistake once, if you're fortunate! We already had positive news out earlier which bounced it up. And just look what occured on the surprise hike. Most of the talking heads were poo pooing & hike this month, shows what they know. You haven't got a cat in hells chance of bailing out if you step on the wrong side of a skewed news release, certainly not one of the major releases, of which any countries interest rate announcement qualifies. You can live & breath if you happen to miss a technical entry or exit & have to take a few pips to the negative, but you'll quickly bleed if you stupidly take on the major news announcements. There are plenty of empty/blown accounts to testify to that fact.

Yep, agreed. The crosses are behaving far better on that score for the time being.

I've pulled this short for a loss of 7pips. We're heading into the UK Indust Production numbers in 30mins & this is just faffing around aimlessly down here. We'll have another peep at it as the numbers print.

I'm short from yesterdays level. In certain cases we incorporate a 'protective' counter position via the fast timeframes when instigating a possible swing position from the off. It's wholly dependant upon how quickly the original (swing) entry moves away. If it begins to dawdle or display resistive behaviour, but we're still comfortable with the level we shorted from, then either I or one of the others will run a half sized (in relation to our original stake) position back against the short to reduce risk on the stops. Given we receive choice-1pip spreads & good fills on size, we can scalp in & out on our usual tech entries until the majority of the stop risk is covered. It's only operated once!! If the original entry gets snatched, the position has more or less flattened. Once price moves away in our desired direction, the trade continues as normal.

They work fine. If you've got the wherewithall to trade Stop & Reverse scenario's & your objectives fit, then why not? They certainly play out ok on the pairs we trade. Doesn't take too much to send these instruments into a short-term frenzy, as you've no doubt already witnessed

It's already taken care of.

torero: Sorry, I didn't explain properly. There are 6 of us working out of the UK location. Our sisters work/trade back in the States at that location, only 5 (siblings) of us actually trade for a living. Dr Who: We don't utilize volume at all on the spot instruments. With spot having no recognized central exchange, it's not an option. We have access to (internal) ladder facilities, where we can view best bid/ask & related liquidity at each level depth, but that is obviously only pertinent to the supplier we're executing thru for that particular deal. OK, so the overnight activity is muted drifting into London. I'm moving our stops back a tad from 9358 to 9370 (above the 50% marker & todays main pivot), just to allow price to wander back in order to sweep any stops which might be trailing in open country. That's about as much risk as I'm prepared to give it on this entry from y'day. If it's a genuine lower high step play, I'd expect it to hold below 50% of yesterdays range (c9370), barring any unexpected data surprises. Anyhow, we'll see whats in store for it this session.

Dr Who, Buk is gonna be absent from here again tomorrow infortunately, so I'll answer your queries if that's ok? Our swing mid-term strat models can be engineered across most of the FX candidates. That goes for both the majors & popular crosses. Certainly the Swiss Franc, Cable & CAD are favorites for intraday/small range plays. Euro tends to take on a more longer timeframe perspective due to it's heavy weighting & inferior intraday range extremes. Although it may appear we neglect anything other than the Cable, we do in fact trade a range of FX instruments. It's just Cable seems to retain it's sweet flavor amongst the majority of traders, therefore it's easier to haul up examples of it's technical journey. Sure, Cable offers very good opportunities to play the intraday ranges & it attracts decent momentum during London for obvious reasons. It's definitely our favored play for chasing short to mid-term returns due in part to it's propensity to get shoved to aggressive & over-extended range barriers. Buk likes the GBP cross pairs, especially GBP/YEN & GBP/CHF. EUR/YEN, EUR/CHF & AUD/USD are also high on the agenda, again mainly due to the fact they stack up positively against our favored strat objectives. Your question in relation to Spot v/s Ftrs? We do have Futures accounts, but they're predominantly traded by our colleagues/Parents Both Buk, myself & our siblings major on Spot transactions. We receive very competative spreads/costs with good coverage & fills via our suppliers.

We're only 2 of a whole bunch of saddo's, LOL. Fortunately, with us being banished across in UK we have more flexibility time wise etc. The private accounts are actually traded thru a matrix of 6 of us, so the only posts/comments shown here relate to those transactions. We're not really permitted to reveal fund account info etc, which is fair enough, but we co-trade those too. I guess it's second nature these day's - we've worked closely for so long we know each others (trade) movements inside out & back to front. Trust is paramount, otherwise it would very quickly go belly up.

Snap!! Yeah, it's a decent odds strike to test the validity of this lower top formation. Might get a bit whippy down here, depending on the Bulls appetite to run it, but nonetheless, worth having a decent risk pop at it.