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Diversified Trend Trading Approach

  • #1,881
  • Aug 15, 2017 2:53am Aug 15, 2017 2:53am
Would you put long order marked by green line on USD NOK 30m?

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H2 is showing uptrend, but H8 is in strong downtrend....

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Cut short your losses. Let your profits run on. David Ricardo (1772-1823)
  • #1,882
  • Aug 15, 2017 3:05am Aug 15, 2017 3:05am
My options are shrinking at my broker....

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I need to step away from uncorrelated exotic forex pairs for small time frames....

They wrote:

Quote
Thanks for your message. Please note that less liquid pairs are usually the most volatile ones. So, you are less likely to experience liquidity drops when you trade the Majors than any other pairs.
They constitute the largest share of the foreign exchange market, about 85%, and therefore they exhibit high market liquidity. The Majors are: EUR/USD, USD/JPY, GBP/USD, AUD/USD, USD/CHF, NZD/USD and USD/CAD.
These are the most liquid pairs and hence the ones with less liquidity drops, especially on news releases and market open / close. As you move...

Without few thousands EUR or USD you cannot trade this method....

Small TFs on exotics and diversification are out of reach for someone with 1000 EUR or less.
Cut short your losses. Let your profits run on. David Ricardo (1772-1823)
  • #1,883
  • Aug 15, 2017 3:11am Aug 15, 2017 3:11am
At least NZD USD earned money lately...

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Cut short your losses. Let your profits run on. David Ricardo (1772-1823)
  • #1,884
  • Aug 15, 2017 3:22am Aug 15, 2017 3:22am
Quoting Ramadas
SDC 1.3 instead of SDC 1.0 would keep this trade alive on EUR GBP {image}
That's good old hindsight talking R. You can't win them all...in fact you only win about 40% of EDTT. Time to stick some trend following mantras on the wall. Just focus on strictly managing the losses and forget about the profits. I continuously have to repeat that mantra to myself mate....but it does help me. If the heat picks up then you can always slow things down by stretching out further until conditions change.
  • #1,885
  • Aug 15, 2017 3:25am Aug 15, 2017 3:25am
Quoting Ramadas
Time for DTTR on H2 on Gold {image} H8 still up {image}
Good trade mate. I like the way you use H8 to confirm your H2 DTTR entry. I haven't tested DTTR on H2....but hopefully the logic still applies.
  • #1,886
  • Aug 15, 2017 3:28am Aug 15, 2017 3:28am
Quoting Ramadas
Similar to Swissy is the situation with USD SGD. Going long on M30 in blue sky above {image} H2 also up {image}
Nice R. That's where I would also place those pending order entries.
  • #1,887
  • Aug 15, 2017 3:33am Aug 15, 2017 3:33am
Quoting Ramadas
Two DTTRs on EUR USD did not work in a row.... Maybe DTTR is best on daily? Maybe I should focus on breakouts only during DD? They seem to have higher win ratio... {image}
DTTR is a tougher nut to crack but offers excellent returns when you nail them. Looks like we are at a trend turning point. If you go again, perhaps consider a short entry after a retracement. This also happens to me at trend turning points. You have two options....either to go long or to go short. If one doesn't work I typically then wait and look for the reverse trade rather than go again in the same direction. If it gives you the ***its, then have a breather on that instrument and look for other opportunities.
  • #1,888
  • Aug 15, 2017 3:36am Aug 15, 2017 3:36am
Quoting Ramadas
To avoid whipsaw losses, stop trading. -Ed Seykota
Wise words from Ed. Thanks for that mate. :-)

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  • #1,889
  • Aug 15, 2017 3:38am Aug 15, 2017 3:38am
Quoting Ramadas
Would you put long order marked by green line on USD NOK 30m? {image} H2 is showing uptrend, but H8 is in strong downtrend.... {image} {image}
Definitely R.....and that's a good pending order placement long as a breakout for a swing trade long on the longer TF trend short.
  • #1,890
  • Aug 15, 2017 3:56am Aug 15, 2017 3:56am
Not much happening for me on EDTT over the last two days apart from watching unrealised profits vapourise on a number of pairs from mean reversion.

A bit of recent activity however on my DTTR trying to capture some quick moves on trend changes.

NZDUSD
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Silver
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USDCAD
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Here are a few more that are looking possible for an entry condition soon.

AUDJPY
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EURCAD
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CADJPY
Waiting for retracement confirmation and then I am long.
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Nikkei
About to pounce on a long following confirmation at kill zone.
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EURUSD
Lining up for a short if it enters kill zone and provides a confirmed entry.
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NZDJPY
I recently had a great short run on this pair and am now looking for a new short entry if the opportunity presents itself.
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  • #1,891
  • Aug 15, 2017 8:19am Aug 15, 2017 8:19am
If history will repeat itself, we can bet on USDJPY coming back to top of the box on H8.

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When would you enter on m30? 111.22?

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Cut short your losses. Let your profits run on. David Ricardo (1772-1823)
  • #1,892
  • Aug 15, 2017 8:34am Aug 15, 2017 8:34am
Do you only have one position in DTTR with 3R target? No second position with open target?
Cut short your losses. Let your profits run on. David Ricardo (1772-1823)
  • #1,893
  • Aug 15, 2017 8:41am Aug 15, 2017 8:41am
Rest of the explanation from the broker why exotics have spikes on market close/open.

Please note that we are a non-dealing desk STP-DMA broker. We offer pure direct access to market and we pass spreads directly to our customers as they are passed to us from our LP's. Have in mind that we do not control the spreads as Market Makers brokers do, since we do trade against our users and we will never do it.
At the same time, please have in mind that since our culture is to offer our users the best conditions possible, we have no interest in closing trades or widening spreads for this same reason.
Due to this, our LP's usually spreads widen during the times around opening and closing of the market due to the low liquidity/volatility of the market during those times., hence why we always recommend to our users to be careful with the SL or TP conditional orders and not being very conservative with them around those times, should any trade be left opened until the following day.
Anyhow, I will pass your order to our operations department so that they can review them in case any extraordinary happened as you explained. In case there may have been any issues from our LP's or our side, we will be more than happy to compensate you accordingly.
Cut short your losses. Let your profits run on. David Ricardo (1772-1823)
  • #1,894
  • Aug 15, 2017 3:24pm Aug 15, 2017 3:24pm
Quoting Ramadas
Do you only have one position in DTTR with 3R target? No second position with open target?
Morning R. I have two positions on entry. At 3R I take profit on 1 position and leave other position open. If price retraces back into kill zone and then reverts back into trend, I will reload with another position.
  • #1,895
  • Aug 15, 2017 4:32pm Aug 15, 2017 4:32pm
Something to think about from Van K. Tharp.

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Cut short your losses. Let your profits run on. David Ricardo (1772-1823)
  • #1,896
  • Aug 15, 2017 4:41pm Aug 15, 2017 4:41pm
Costly mistakes:

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Cut short your losses. Let your profits run on. David Ricardo (1772-1823)
  • #1,897
  • Aug 15, 2017 4:49pm Aug 15, 2017 4:49pm
Quoting Ramadas
If history will repeat itself, we can bet on USDJPY coming back to top of the box on H8. {image}
Probably mate. Bouncy bouncy bouncy..... :-)


Quoting Ramadas
When would you enter on m30? 111.22? {image}
Good placement mate. I have a pending on M30 @ 111.31 only because I am slowing things down a bit after an ugly few days but if I was in a more aggressive mood after some gains in the war-chest then there is no problem with 111.22.
  • #1,898
  • Aug 15, 2017 4:51pm Aug 15, 2017 4:51pm
Quoting Ramadas
Rest of the explanation from the broker why exotics have spikes on market close/open. Please note that we are a non-dealing desk STP-DMA broker. We offer pure direct access to market and we pass spreads directly to our customers as they are passed to us from our LP's. Have in mind that we do not control the spreads as Market Makers brokers do, since we do trade against our users and we will never do it. At the same time, please have in mind that since our culture is to offer our users the best conditions possible, we have no interest in closing...
You might be lucky mate. I have my fingers and toes crossed for you. :-)
  • #1,899
  • Aug 15, 2017 4:53pm Aug 15, 2017 4:53pm
Quoting Ramadas
Costly mistakes: {image} {image}
Thanks for the Van Tharpe extracts R.
  • #1,900
  • Aug 16, 2017 7:02am Aug 16, 2017 7:02am
R....If you are around.....I am being chewed up and spat out at the moment with the breakout techniques as the market returns to it's fickle mean reverting sequences. I am therefore proactively stretching my pending orders out more to avoid the whipsaws and play it defensively. Just thought I would give you a heads up on what's going on in my skull at the moment. :-) C
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