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lovetotrade's YM Breakout Journal

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  #331 (permalink)
 Rrrracer 
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Interesting take on VWAP as well... I trade EUR/USD and haven't found much use for it other than context, but I have the ETH up and haven't charted RTH. Maybe worth another look.

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  #332 (permalink)
 bobwest 
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Rrrracer View Post

Are you still trading the Cable?


lovetotrade View Post
Yes still trading Cable....

What's the Cable?

Bob.

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  #333 (permalink)
 lovetotrade 
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Rrrracer View Post
Interesting take on VWAP as well... I trade EUR/USD and haven't found much use for it other than context, but I have the ETH up and haven't charted RTH. Maybe worth another look.

Like I mentioned it was a game changer for me, the most relevant information of developing value available. But this is based on the time frame I am trading. I will be showing more examples of this in the future, and maybe I should also point out what I see bewteen the two VWAPS during the session as well.

The EURO definitely has some funky price action at times, with wild swings coming out of nowhere. GBP is more predictable IMO, and is why I trade it over the EURO.

Rule number one in the markets is to never lose money. Well since that isn't realistic, I say if you're going to lose some money anyway then lose small, but when you win, give it all you've got and win big!
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  #334 (permalink)
 lovetotrade 
Rockledge, FL
 
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bobwest View Post
What's the Cable?

Bob.

Hey Bob! Best explanation I found after a quick search.

"The term cable is a slang term used by forex traders to refer to the exchange rate between the pound and dollar and is also used to simply refer to the British pound itself. The term dates its origins to the 19th century."

Rule number one in the markets is to never lose money. Well since that isn't realistic, I say if you're going to lose some money anyway then lose small, but when you win, give it all you've got and win big!
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  #335 (permalink)
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Like I mentioned it was a game changer for me, the most relevant information of developing value available. But this is based on the time frame I am trading. I will be showing more examples of this in the future, and maybe I should also point out what I see bewteen the two VWAPS during the session as well.

The EURO definitely has some funky price action at times, with wild swings coming out of nowhere. GBP is more predictable IMO, and is why I trade it over the EURO.


I like that rulee to push on the winners and do not lose.

Keep fighting that good fight.

TY-

EX

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  #336 (permalink)
 Rrrracer 
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bobwest View Post
What's the Cable?

Bob.


Cable=GBP/USD, Fiber=EUR/USD... but yea, Forex slang


lovetotrade View Post
The term dates its origins to the 19th century."

If I'm not mistaken, I believe this relates to the first trans-Atlantic telegraph cable; instead of taking ten days to hit up your rich relatives abroad for some dough, it only took minutes hahaha. The Euro is known as the Fiber (as in fiber optics) because it's the newer currency.

@ lovetotrade, digging your new focus on value, this is the path I have been pursuing as well.. looking forward to more posts in this vein and also your thoughts on VWAP. Cheers!

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  #337 (permalink)
 Grantx 
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lovetotrade View Post
So if the market moved 100 points away from value over night in the direction of the trend, chances are very high that the market will be moving counter trend for the bulk of the day. The market trend may be down, but if you are shorting every day while the market is moving lower every night for weeks in a row, this will destroy your bottom line. Take a wild guess as to how I know this. You must anticipate and respect this natural phenomenon of the markets. If anyone can disprove it, I am begging you to show me a better way of looking at it.

I've been playing this strategy for a while and agree with your observation. Determine the prior session sentiment, note the closing price and then if the overnight has 'assisted' with the prior day sentiment then,with high regularity, you can expect some sort of countertrend move (profit taking) back to at least closing price where I find it stops and chops for a time. Sometime this establishes as new value. This is true for the European session more so than the US session.

Excellent journaling lovetotrade.

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  #338 (permalink)
 lovetotrade 
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TraderEX View Post
I like that rulee to push on the winners and do not lose.

Keep fighting that good fight.

TY-

EX

In a nutshell, it's really the only way to succeed! Thanks for stopping by.

Rule number one in the markets is to never lose money. Well since that isn't realistic, I say if you're going to lose some money anyway then lose small, but when you win, give it all you've got and win big!
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  #339 (permalink)
 lovetotrade 
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Rrrracer View Post
@ lovetotrade, digging your new focus on value, this is the path I have been pursuing as well.. looking forward to more posts in this vein and also your thoughts on VWAP. Cheers!

Thanks a bunch man, should have a nice update tonight on today's volatile morning. Please stay engaged if you will, and let me know what you would like to see more of going forward. Good dialogue really helps me as well as it forces me to thoroughly think through these processes.

Rule number one in the markets is to never lose money. Well since that isn't realistic, I say if you're going to lose some money anyway then lose small, but when you win, give it all you've got and win big!
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 lovetotrade 
Rockledge, FL
 
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Grantx View Post
I've been playing this strategy for a while and agree with your observation. Determine the prior session sentiment, note the closing price and then if the overnight has 'assisted' with the prior day sentiment then,with high regularity, you can expect some sort of countertrend move (profit taking) back to at least closing price where I find it stops and chops for a time. Sometime this establishes as new value. This is true for the European session more so than the US session.

Excellent journaling lovetotrade.

Geez does it make life so much easier! You got it, the market temporarily establishes value, runs to the next spot to temporarily establish value or rejects, and then wash rinse repeat. The whole game is really establishing direction, knowing when to pull the trigger, and identifying where the market is likely to head next. And if you are looking at the right things, totally possible.

Thanks Grant!

Rule number one in the markets is to never lose money. Well since that isn't realistic, I say if you're going to lose some money anyway then lose small, but when you win, give it all you've got and win big!
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