In your opinion what are the most interesting threads here?

https://www.forexfactory.com/showthread.php?t=588764

A thread about pivot point trading. The thread is really informative. For example, below points are handy (that I got from that thread). I suggest to put the indicators in an empty chart. Davit says: combine pivots with low ADR-pairs (UC AC NC EA AU GU NU AN EU)(M15/30 chart, tp: 50-100)(weekly pivot as equilibrium)(if ADR>100, then reversal signal)

FYI:
Pivot is based on broker time start and that varies from broker to broker.My broker is NY based hence if you are in that time zone no need to change anything however if you live outside this zone you need to adjust the pivot to match mine.10pips or less Pivot difference is acceptable and normal.Its a zone after all. In order to move the pivots you need to take these steps.
Get into indy settings. Set brokers candle to false. This is the key to being able adjust the pivots up and down
'Choose H1 start candle': 2016 06 19 05:00
'Choose H1 finish candle': 2016 06 24 05:00......"See post 15"
(5.00 a.m. may not work on your chart so try different hours till pivots line up).
Fiddle with the hour on your 'Choose H1 start candle/finish' settings to get it to line up with my pivots. When you find the corresponding hour, set the start candle and finish candle to the exact same hour. Once adjusted save as template and use that on every pair.
Updated Pivot indi just change time zone and broker candle false
should work wherever you live

Question...hello Can you please tell me why did you shorted both EC and GC before news ?
Answer...Both made weekly highs so the Edge was on my side on downside and have been tracking Canadian economy and oil for years more familiar with CAD. I have traded CAD more then any other currency and its almost intuitive.Why I always bought CAD against NZD and AUD that's always been my preference for years.


I tell you more, when I started with Davit, right before news He sold UJ at R61, on strong up trend. And like Magic price reversed. I was blown away. Later I learned there is 100% correlation between price location according to pivots and fundamentals.


First page" the faster price reached 61-100 , more likely it will go into correction "


1) As price travels progressively away from weekly pivot it becomes more likely to go into correction.
2) 61 S/R key zone 78R/S is Scott Carney's last chance for reversal (spikes stops taken before reversal)
3) 100R/S another major zone. Should price smash 100 S/R then you are in strong trend supported by fundamentals.


1. Read page 1.
2. Read page 1 again.
3. Use his template and just post here with his template.
4. Use the search box before asking questions.
5. Go over the weekly calendar and try to anticipate what will happen, and which pairs are best left alone.


the R138 level is clearly an overextended trend


don't subscribe to typical bookish mentally that if previous H4 is bear then assumption should be another bear candle.This is very wrong way to look at the markets.Markets are in constant motion and within 1 H4 candle price can move opposite over 100pips against previous candle so its not about previous candles but where price is in relative to pivots.In simple terms Location is what is important.
I trade 15-30min charts however bigger works as well.
TDI is our friend.When price hit major pivots we wait for TDI to turn thus confirm the move. Sharp angles important when its almost horizontal PA is weak or consolidating thus avoid trading.PA is king always!



STOP LOSS
1 Decide how much each swing is worth example $500
2. Divide $500 into mini lots for multiple entries example .50c a pip gives 1000 pip distance
3. This allows averaging in orders as seen fit irregardless if previous orders are in red
4. Orders are placed as long as reason for trade is still valid
5. If conditions change loss is taken since orders are not placed all at once this allows smaller loss
Swings
Each Swing investment $500 (example yours could be anything)
Swing is taken as loss once -$500 is reached
There are no exceptions.No running red beyond $500
Orders broken down into mini lots that satisfies each swing consist of 10-15 trades
My budget for this is 2-3% of account risk say $500 for example.I then enter trades on mini lots and as long as my 500 is not consumed on DD and I am still confident of my trade I stay on it.I may choose to get out early but most times my SL is predetermined.This allows me to cast a wider net. So my 10mini lots can cover 50pip distance hence capture better RR
There is advantage to trade this way.Should PA go against you and you no longer like the trade you can get out by fraction of lot invested hence your loss is minimal instead of traditional 1 trade 1lot per trade when if wrong loss is substantially higher.
Numbers posted are for examples only

Note very important this system does not work best with hyper pairs that usually have over 120pip ADR like GJ GA GN etc
From numerous trial and errors low ADR pairs fits the best in my method
Pairs I trade most often......UC AC NC EA AU GU NU AN EU



TDI lines green crossing the black 15-30min chart and Price action agreeing


Its important to understand that pivots are zones and not exact number.Often price can fluctuate 10-20pips before turning.


Guys who pay attention look at Price action follow fundemetal news cut losses early are all winning attributes which contribute to having an edge.Nothing comes without effort.


depending how EU and GU doing. EG is combination movement of both.


Pivot is just a road map.PA is king.


The 0.786 is a vital Fibonacci number because it is often the last chance reversal area before retesting the original price point.


Be cognoscente of news which many systems just ignore.Its vital because I trade swings! (one of the reasons I have news feed on my template)


lowest TF I trade is 15min. 5min is scalping zone which is totally different mindset


I trade swings and they are swings on Down trend and uptrend.For me its all about the swing. Trend can change 100+pips in 4 hours opposite of previous 4 hrs and same on daily.Important to understand is where most turns likely to occur with the help of pivots and with TDI as confirmation you got a real edge.


correct.I look 30min cross mostly but have taken 15min as well but nothing smaller.......PA is king


My base TF is 30min but when I see a weakness I jumped on it even on 15min but PA must be in good zone 61+ unless its ranging.Ranging pairs tend bounce from 38 to 38


I don't trade news.Prefer to be out most times specially NFP.One usually finds good opportunities after. I do look for divergence but it has been my experience that its hard trading meaning what looks Div on H1 may look very normal on H4 and nothing at all on D.I like dives that show same up to Daily.
Its not something I put great impoetrance.To me most important is looking at Price Action in zones.



How much you are comfortable risking because that defines everything.......
Super conservative 1-2% 10k is 100-200 dollars which equals .10- .20 mini account a pip
lets go with .2 as example
5 positions on a pair is 1 dollar a pip and 100 pip move nets you 100 dollars.Granting you don't have other pairs trading you made 1%
you do this 4-5 times successfully a month will net you 4-5% gain of account which is respectful
Personally I traded .5 lots since 5k account and never looked back but don't go by my example I risk more because to some extend I know more and I want greater gain a month. 5% gain a month is not doing it for me.I need to hit 10%+


position size is depends on experience and risk appetite but industry standard is 2% risk generally most common.


As you guys know I love range and when I trade range I always trade towards BO direction.


Once again its not about being all over the board. That's not efficient. Focus on swings! on few pairs and maximize the gains


Its important also recognizing good opertunity spots and hit them hard 61-100 zone ideal


great spots enter with greater force lesser spots less force


Fundamentally I am becoming more bearish on USD.Unemployment claims raising and job creation declining and there will be no June hike so anticipate further USD decline.


Guys who know me know that I love range trading. EG is in a range.


I usually don't trade UJ because of BOJ could and have intervened in the past and price can spike or dive very quickly.In my real account I don't see value trading the Yen.


80% of my trades are on UC and some on AC and EC rest on EU AU NU GU EG....I like the Cad because I can keep up with oil and Cad fundamentals.To me you only need 2-3pairs to reach your monthly goal.....I can build 10 trades on UC equaling trading 10 different pairs but my results would be better because I only need one swing to collect.


General guidelines to me is this
If you have less then 5years of experience then don't trade hyper crosses like GN GA EN GJ
Anything over 130 daily range is red herring to me.Its not about profits its about controlling risk profits take care themselves.
Mistake lot of rookies make is getting carried over by greed and trade crosses and pay dearly when wrong.
Slow study the way to build equity.


I find 5-10pip differentiation of pivots acceptable.They are zones not exact number at least how I trade it.

I mainly use swings tops and bottoms as exits and sometimes hang to see if there is more action in same direction.....So swings can be anywhere 50pips to 100 depending on pair.Any gains more then 50pips is reasonable profit.



Pivot trading is basically swing trading.
We take profits from any swing irregardless of "trend" most here at FF don't understand what trend is.
What they think trend most often are swings in range market.
70% forex is in a range.Traders often complain about "choppy markets" but seriously those are most profitable times.
Focus on swings and that's when pivots help comes in.


PA hits major pivots
A.I look for behavior price action mostly rejected candles tall tails 15min up 1hr
B.Price breaks I get in once TDI confirms it 15-30min. I don;t care about H4 or daily.I trade swings.Price can drop 100+pips in 4hrs hence previous H4 is nullified.
C Ride the trade to next pivot.


Hard answering you exactly but I'll try. EA is combination of AU and EU .AU making reasonable gains but EU is stuck at 1200 so that effects EA directly.
I watch how majors behave when trading crosses.Momentum has lot to do with it plus simple PA reading.
In most cases I don't trade from pivot


Correct I think of weekly pivot as equilibrium.When price runs away from it resistance becomes greater as further it travels.


I don't set hard stops but do have % when in DD I get out.


Just be mindful trading exotics spread on those are not favorable.


I follow PA once I am in I build positions.I never enter full lot.Break them up and average out so I get a better price overall.This is common on stock trading but not in forex. It's my way of controlling losses.Should PA go against me I can get out with 1/4 lot damage instead of full lot.I don't place hard SL but do have a threshold when I get out. ADR is just allowing you to see daily extremes better.Example if UC travels 100ADR last 20days and its at 110 then chances of correction is great. Usually late entries get crashed which in general is stupid money.


Scaling in to me is about controlling risk and that's my number 1 criteria.Noticed I didn't mention anything about profits. Focus on risk control and profits take care of themselves. Rookie traders think about profits, Pro traders think about managing risk.2 are very different way to see the markets.


GU tanks GN will tank 2x faster.This happens in general a lot. rejected candles and look left as well.


UC moves in conjunction with Oil.Oil drops UC goes up and reverse true.


Max just be mindful that Pivots are like road maps like "watch something might happen"
But its not guarantee that without correct PA trades will be successful.
I recommend you wait and watch 1st how PA reacts to pivot then take appropriate trade. Price can easily go though pivots specially when propelled by news.
Something you should ingrain in you as a trader.Never assume what price may do without it doing it 1st
This part is the heart of trading.We watch 1st then take action.


I allow room for DD
DD is not necessarily a bad thing as long as you know how much you are willing to let it accumulate.
DD for me is the stop loss.As long as its within reason I usually stay on course unless clearly PA is proving me wrong.This is one of the reasons I am a huge advocate of cost averaging and trading small lots.


2 pairs AC EC I always sell never buy.That's just me.Like Canadian dollar I guess.Not the levels I like to sell yet but not comfortable buying it either considering oil gains.......In basic terms in order for your longs on AC and EC to have legs crude must drop.


I recommend trading G crosses after 5yrs of trading experience or you will pay dearly by massive sudden spikes and erratic moves.
Stick with pairs that are less then 120 pip ADR


I treat My entries as badges as 1 trade consist of 4-6 average mini trades.....When I exit I closed them all....My average distance is 50-100pips which usually same distance PA travels from 1 pivot to another. When you look at the chart you know when to exit.


I also use limit orders in my advantage since I work 70hrs a week I have no time for perfect entries so I place limits at key zones and wait to see what happens. Got AN at 38S waiting...Would it dive again? Don't know.Does it hurt being there? no but should it trigger and bounce up you will be in profit without effort....I have collected thousands of pips using this technique over the years.


To me waiting is critical part of trading


To me its about following fundamentals and charts.I already stated lots of data coming out on Euro...hence rather stay out of it and catch the exhaustions.


I prefer not trade pairs that are clearly untradable specially in between pivots.


If you can collect 50-70% of the swing that's splendid.Never feel bad leaving money on table.


most what i DO IS SIMPLE BASIC STAFF.PA reading and pivots and TDI as supporting roles.That's it.Keep it simple


That's how one should see set ups.Watch behavior then strike.



When TDI is sharp 4 5 6 O'clock or 12 1-2 O'clock means there is good buying and selling...This is something its intuitive you look at TDI wave and can tell what's going on...When its flattering means move is exhausted and ranging...Best way to think about this is selling or buying speed.Faster price drops sharper the angle.....Don't overthink about this....Watch PA.


One thing to keep in mind about divergence.PA must agree


In general scheme of things NZD hurts the NZ economy if it appreciates too much.Much of the economy is dairy and agricultural based and strong NZD is not competitive specially in light of Aussie recent rate cut.



I don't really count pips I count $$...I set for example $500 1 batch of trades. I enter mini lots.As long as my 500 is not reached then it did not reach my SL......
Once again my SL is based on actual $$ not pip.As long as my batch of trades have not reached max Dd in terms of $$ then I let it run. Let me give you concrete example.....I was shorting UC from 129 and price went 31+ and I had over 200pip DD but in actual $$ it was only 20% of my intended lot to be traded on this pair.Then I Hummered rest from the swing top and made all DD back plus nice profit. I trade unorthodox style I learned over the years that 20-30pip SL is sucker move.It will get hit and you can be taken out even if direction is correct. I refined my style of trading that pivots allows best entries without huge DD.People who see the value of this thread will profit


My sL is part of my trading entries.Should PA overrun my budget for that trade I take the loss manually. I often take earlier if I think fundamentals shifting....Reason I can do this because I don't over trade.I trade mini lots.


don't trade the swissy.I don't even look at it.


I don't mark previous pivots...I just carry over and watch PA with new pivots.I try to simplify everything.....



In general movements of crosses is dictated by majors. GU gains up so will GJ.Should GU continue to decline GJ will decline as well.



Love range pairs best money making situation.Don't believe shit you read on trading books.Range trading is great $$...Trading books are always talking about "trend" and most cases are clueless what that is...You should have 2 different way approaching pairs.Trending requires larger SL and patience and range requires getting in and out on swings.



Question.....When am in profit and PA suddenly turns without getting to any S/R and begin to move against me and TDi crosses down. does that mean i have to close the trade and take whatever little profit i have on the table. or still hold on to see if the PA would turn back to the former???
Answer.....Your question is excellent and I am surprised nobody asked that here before.Its actually a simple solution-go higher time frame...1hr 4hr specially....If previous 4h is bull stay in it...Move SL to break even then let price do its thing.Once you are more then 20pip in profit start moving SL closer and closer to protect the profits.


Price always goes towards least resistance.That's the simple truth.



Thinking in terms of probabilities also helps remove the emotional risk of trading. Mark Douglas talks about the 5 Fundamental Truths, they are as follows:
1. Anything can happen
2. You dont need to know what is going to happen next in order to make money
3. There is a random distribution between wins and losses for any given set of variables that define an edge
4. An edge is nothing more than an indication of a higher probability of one thing happening over another
5. Every moment in the market is unique



Now my system is based upon simple observation that price hitting pivots away from weekly pivot will either break or retreat.That's my set of variables and given years of observation I came to conclude that price breaking 61R or 61S is less likely then going towards next level and rejection increases incrementally as price hits 78R/S and 100R/S....This is hard for people to get specially trend traders but simple fact is Elliot theory is real.Nothing goes in straight line....My system is based upon exploiting and profiting from swings.Its as simple as that....To me trends don't exit only swings matter.



Daily open is S/R it creates a bias.Its on my template for a reason.I always like to know DO and ADR distance from that line...If pair travels average 20days 72pips like NU and manages to travels 130pips in 1day from DO then probability of correction is great or you should be cautious of getting in on LATE party after the move is exhausted...I usually get in on beginning of the move rarely on tail end.



My budget for this is 2-3% of account risk say $500 for example.I then enter trades on mini lots and as long as my 500 is not consumed on DD and I am still confident of my trade I stay on it.I may choose to get out early but most times my SL is predetermined.This allows me to cast a wider net. So my 10mini lots can cover 50pip distance hence capture better RR...There is advantage to trade this way.Should PA go against you and you no longer like the trade you can get out by fraction of lot invested hence your loss is minimal instead of traditional 1 trade 1lot per trade when if wrong loss is substantially higher.


I Love AC, it's my favorite range pair....Don't buy AC always sell AC....Fundamentally CAD is better shape then the Aussie.This is one pair that I only sell.That's just me.


Question....I notice my chart doesnt have those little boxes that diplays orange or red or green in the TMS_ Angleator v3 -RT2 indicator at the far right corner on my chart just as you have it on your chart and other guys have it on their chart as well.
Answer....I never pay attention to those boxes.I just look at the arrows.Supposedly they mean something but all honesty PA is king.Its not like I will not take a trade because little box at the bottom is orange...It was developed or overdeveloped for TDI levels but looking at TDI is all you need.



When I mentioned UC I mean Canadian dollar oversold which is same as saying USD overbought


I don't use hard stops.Reason is 20-50pips SL are easily taken out.Market usually spikes before reversal.Try having wider stops smaller lots or monitor trades without hard SL


just want to reiterate that space between 61r/s to 100r/s is most critical and volatile because most often price reverses on these levels hence spikes are common....So If I take a short or long at 61R/S I will most often stay in it even if it goes through it because I know they are 2 more greater S/R coming up...Hope this helps in planning your SL and trades.



I have finally unravelled the pivot indy out of whack riddle! PITA for those of us presuming indy would be ready to go as is like a big Mac lol. I am in east coast Oz, and have NY close candle charts, but i still had to fiddle with my settings for it to line up with Davits charts. Closest i could get is 1.5 pips out from his, but that's close enough.
This what i did:
Get into indy settings. Set brokers candle to FALSE. This was the trick/key to being able adjust the pivots up and down for me.
Set the week to latest week on Choose H1 start candle/finish candle as follows:
'Choose H1 start candle': 2016 06 19 05:00
'Choose H1 finish candle': 2016 06 24 05:00
(5.00 a.m. may not work on your chart so try different hours till pivots line up).
Fiddle with the hour on your 'Choose H1 start candle/finish' settings to get it to line up with Davits U/C chart pivots. 5 a.m. was the hour that worked on my chart. When you find the corresponding hour, set the start candle and finish candle to the exact same hour.




That's part of it ...but I do lot more..I build positions.
from my trading plan
STOP LOSS
1 Decide how much each swing is worth example $500
2. Divide $500 into mini lots for multiple entries example .50c a pip gives 1000 pip distance
3. This allows averaging in orders as seen fit irregardless if previous orders are in red
4. Orders are placed as long as reason for trade is still valid
5. If conditions change loss is taken since orders are not all placed all at once this allows smaller loss
Swings
Each Swing investment $500
Swing is taken as loss once -$500 is reached but often loss is taken early if PA obviously is going against you hence its not necessary to wait until 500 is reached.
There are no exceptions.No running red beyond $500
Orders broken down into mini lots that satisfies each swing consist of 10-15 trades
I average about 15 swings a month consist of average 10 mini trades each swing
I came to realization that traditional hard SL of 20-50pip is total sucker move because players who move the market know exactly where your stops are.You will be taken out even if direction is correct. How to overcome this dilemma? Read my plan.Its very logical.
monitor your trades without hard SL.Beat them in their own game.
Read about Elliot Wave theory.Its the most brilliant concept in trading that all markets adhere to.Pivots are nothing but waves inside waves inside bigger waves.
Example I just exited my AC trades but should it hit 97 I most likely will sell again...You see you have to improvise and go with market flow.




Its 10 mini lots average.Usually its less.I add sometimes trades very close like 5pips apart.Everything depends how price moves.If I don't manage to enter all lots then that's not an issue just less profits.To me its about hitting monthly goal. Set % then try to hit it. Mine is 10% a month minimum and often exceed that % Its important to get overall concept in trading



Love rangy pairs they are best $$ makers...Pairs like AN AC NC EC often range.....Forex 70% is in a range.

TY. Added to the list.

https://www.forexfactory.com/showthread.php?t=514163
Very detailed strategy regarding donchian breakout. With indicators, template, instructions, examples, test records. Everything is free.

Update - 2018 Resolution - A Change of Direction into the Land of Fun

Ok guys. The New Year brings a few changes to the direction of this thread. I would prefer to see this thread become much more of a discussion thread regarding all things trendy and diversified. The gloves are now off and we can create a bit of chaos here..,...so let's see if we can raise the tempo with participation and make this less of a one way diatribe from a few die-hard trend followers.

Over the 2018 year I will be winding down my efforts a bit on this thread and increasing the sporadic brain farts and anything that catches my eye that might be a bit relevant to the general topic of diversified trend following. I would prefer that this thread remains active and is not relegated to the archives from a general lack of participation.

The only rule that we should abide by is a general respect for all participants here and the need to keep things positive and fun. Of course fun posts of general nonsense will be encouraged as well as mandatory music inclusions. Let's turn this into a fun place as opposed to a public library :-)

Cheers C

.....and the best for the New Year to all of you.

Below is the original intro to this thread.....but things have moved on considerably in this thread's evolution from it's original intent.



Greetings traders

I have been a lurker on this forum for quite a while and have been looking at the pro's and con's of sharing my trading approach with everyone here. Bottom line is that I wish to collaborate with the community as I have seen some very worthwhile contributions in some of the threads I have visited, particularly those from the trend following camp who have spared the time to spread the jubilation that sustainable trading for a living can bring.

I am particularly excited with the robustness of the strategy referred to as the Diversified Trend Trading Approach or DTT, as I have been involved in trading for the better part of my life both in the operation of a small fund and in areas of compliance relating to fund management and have seen and experienced first hand a lot of false hopes. Experience has taught me to avoid Martingale's no matter how they are hedged (I was a past Martingale addict and once you are one, it is incredibly hard to pull yourself out) and I also avoid aggressive pyramiding into trades. On Martingales, the key is a regular harvest and the need to ensure you only allocate a small percentage of your trade capital towards them, as you just never know when or even if that day will arrive, no matter how clever you structure your progression. The market has this unnerving ability to sniff out the weaknesses in your creation.

If I was asked, what are the merits of this approach and why does this strategy deserve any attention, then the simple response is this.....and trend traders have all heard it before. A single instrument may experience only a small number of significant trends over a defined extended period. On a D1 chart, maybe as little as 2-4 times a year......A trend trader wants to be on these trends as this is his/her bread and butter......but they also want to avoid or minimise false starts .......so to increase your probability win rate, you need to focus on confirmed trends of substance, and keep control of your trigger finger.......and if your living is dependent on your approach, you want to control your behaviour to prevent overtrading as soon as you sniff a trend.To improve trade probabilities, reduce lumpy cashflow and diversify risk, you also need to keep watch over a large number of diversified instruments so you can afford to be selective in only choosing those trades that 'scream out to you for action'......and you want to strictly control your risk to keep you in the game, pay those bills and keep your family happy. This approach seeks to address these important issues faced by a trend trader.

Warning!!! Ifyou are new to the game of trend trading then I strongly suggest you spend considerable time backtesting, forward testing, trialling a demo account on a single instrument before you launch into multiple instrument trading..and before you even think of going live..not that multiple instruments pose any significant different nuances....but rather that it is essential to understand how to trade trends first before you attempt to diversify. Managing multiple instruments is only going to compound your problems if you are not fluent at trading trends on a single instrument. Your hands will be flying everywhere, your screens will bear witness to grimaces of pain and torture....and your pets will be steering clear of you. This thread should not put you off participation but I strongly advise that you do the hard yards and earn your certificate first....for you could very well be swearing at me in later posts....and I can always refer you back to this original section of the first post, without having to say I told you so directly.

Note regarding the use of correlation and trend strength measures as filters for the strategy. Despite the power of these tools for trend trading strategies in general, I tend to disregard these filters as their inclusion significantly reduces the number of available trades. I recognise the importance of these measures if trading a narrow range of instruments, but given the diversified nature of this strategy, my backtest concludes that they are not necessary....at the moment but may alter in the future as this strategy is honed (as discussed later). What is the critical determinant as a filter for this strategy is whether or not a trend exists with the instrument.

I have a very low risk tolerance and to be perfectly honest with you all, I am not a very good trader.....however my strength, in my opinion at least, lies in risk management and system design. I have been through many trading phases in my life looking at various systems including working with a programmer on a host of EA's, but inevitably find that conditions in the market change thereby rendering these different approaches to the dustbin...meaning that these approaches failed the robustness test in that a truly robust system needs to weather all market conditions.

Given that in the next few years I will be returning to full-time trading for a living my focus has been on the development of sustainable trading systems that focus on capital preservation and income yield....and here we are today.

To be clear, I have not commenced trading this strategy as I lack sufficient available capital at the moment to commit my livelihood towards this venture. Furthermore, despite the relatively low trade frequency, this strategy is for a team that are prepared to operate 24/5 in shifts. I have time on my side to get this all cracking if this strategy stands up to intensive scrutinisation.

What I have done however over the past year or so is extensively backtest and forward test it over the past 688 calendar days commencing 1 January 2013.

Some guidelines for the Strategy:

 

1. Obviously different trading strategies suit different personalities. This strategy may appeal to those seeking a trend trading strategy backed up with a solid risk management approach.
2. I use IG Markets as my preferred platform as opposed to MT4 due to the excellent advanced charting package provided that assists in managing a diversified portfolio, plus the vast array of products which IG offers that can be traded from currency pairs to indices and commodities. The strategy is currently configured to actively monitor 24 products and a user friendly charting interface with comprehensive trading alerts is essential. It works well on MT4 but can become a pain in the neck when speed of execution is required....but of course it is your choice. I just thought I would mention what I use.
3. I have not been successful developing an EA for this strategy as the determination of the trend is not timeframe dependant which makes programming difficult. Significant decision making needs to be made at D1, W1 and M1 levels Maybe there is a talented individual out there that might want to see if they can convert this into an EA. My feeling is that this approach will only ever be semi-automated at best given the discretionary nature of trend determination with the mechanistic nature of trade management.
4. Despite my lack of success in developing an EA for this, I have removed human discretion at H1 TF where possible.
5. An initial stop is always placed on each trade but immediately following stop execution, the standard deviation channel becomes your exit mechanism so you rarely hit your initial stop. As a result, time in trend is your friend as each bar of progression reduces your loss factor. The standard deviation channel is used to manage the trade at all times.
6. My maximum risk tolerance is 0.5% risk per trade but this does not stop others from magnifying this amount if they are prepared to strike for a higher risk:reward ratio. For example, a 1.0% risk per trade doubles returns but also expect an associated doubling of associated risk parameters such as the drawdown. I actually feel that this approach could handle a bit of aggressive risk management so based on current results, a 1.00% risk per trade would be regarded as perfectly acceptable as it is unlikely to keep you awake with cold sweats.
7. For the DTT I use a daily chart to determine if a trend is in place with a standard deviation channel (1.0 std dev's) to confirm the trend and it's significance, and then I go to the H1 timeframe to redraw the trend from the D1 commencement point again using a standard deviation channel of 1.0 std dev's, and then wait for a Donchian breakout, or jump in immediately if it has just occurred using a 40 period Donchian on the H1. I know I don't spend much time discussing support and resistance levels which is a key requirement for trend trading, but this is where the Donchian comes into play by visually confirming that at least in the short term, following a breach, you will be trading in blue sky. Identification of support and resistance is a key step in your analysis on the D1 timeframe in identifying entry points and periods of congestion, but I don't think I need to go into this much in this thread as there are many other threads that do a better job of this.
8. Upon (or just before) breakout of the Donchian on H1 timeframe, immediately redraw the standard deviation channel from the commencement of the trend (on D1) to the bar immediately preceding the entry bar. The lower or upper standard deviation channel (dependant on trend direction) determines your initial stop distance = R.
9. If I achieve 2.5R profit I redraw the trend on the H1 timeframe using a standard deviation channel of 0.5 standard deviations to further confine the trend boundaries and ensure not too much profit is taken off the table before an exit.
10. Note that this strategy does not pick the highs and lows of a trend and tends to execute when the trend is well established and never achieves maximum profit potential.
11. Using these rules you will ensure you are always in the direction of the daily trend.
12. Note that I do not use price action signals such as pin bars, engulfing patterns etc. I simply use the Donchian breakout on H1 to keep things simple for me. This is necessary as I watch a large portfolio and cannot afford to be too detailed in my trend assessment.
13. Also as I am not using traditional price action patterns I therefore use a bar chart as opposed to candlestick charts to keep things clean, decision making fast and avoid letting my brain override the technique.
14. Note that I use the standard deviation channel to define a trend and do not use the classic trend definition methodology of a sequence of highs or lows. The reason for this is that a standard deviation channel is defined using the entire data set as opposed to say 3 or more points in a trend. The basis of this methodology is that I am looking for consistent trend patterns across the entire timeframe I am using. This helps me to validate those trends moves of more regular nature as opposed to those trend moves that may be biased by a few bars in the set. Furthermore the use of the standard deviation channel removes human discretion that is often present in drawing trends. For example, give the same chart to different people and they frequently draw different trend lines. This is avoided through the standard deviation channel method provided you draw the channels from the lowest point in the trend to the highest point in the trend. Another reason the the std dev channel is that I use it as a linear regression tool to define the slope of the trend.
15. When in a trade, always redraw your standard deviation channel when a new high is made (for a long) or a new low is made (for a short). It is essential that when new data is added, the standard deviation channel is redrawn as this manages risk on your trade as it progresses.
16. Note that use of the standard deviation channel effectively acts as a trend volatility measure like an ATR. For example volatility prior to entry will result in a wide std dev channel prior to entry. As a result your R will be wide reducing your position size for your level of risk tolerance.
17. Losses are a fact of life so expect them. Fortunately this strategy strictly manages those losses and through diversification attempts to reduce drawdowns, so let the strategy take care of them.....do not attempt to second guess. Just keep in your mind that you only trade strong trends on a longer term timeframe so momentum from fundamental factors are most likely driving these movements as opposed to random market behaviour. We never predict the future and simply jump on board the current daily trend......until of course it bends.

If this approach sounds interesting to you then I welcome you to this thread. As with standard warnings on other threads, this is for interested members only, who wish to learn or positively contribute.

I am not going to post backtest results (ok I lied...refer to Post 13) as it is a pointless exercise given no live trading has occurred. This will be a task for those who wish to trade this strategy themselves. Despite this however, from my own testing results, I could not be happier and I think those who get involved will also come to this conclusion.

What I can tell you however is this. Over the last 688 calendar days, there have been only 450 trade opportunities across the portfolio which gives you an idea that the strategy is fairly selective in its entries namely due to the condition that a good quality daily trend needs to be in place before a trade entry is signalled. For those who lack the patience to wait for these opportunities, this strategy may not be for you.

If you are happy with all this then I will shortly start posting a few charts to get things cracking.

Regards

Copernicus

Note to Readers
During the course of this thread the approach has been dynamically adjusting to respond to market conditions and strategy additions have been made to supercharge performance results. This approach described above which I refer to as the Diversified Trend Trading Approach DTT represents the core module to this technique and it is a necessary pre-requisite to fully understand this approach prior to moving onto supercharging trend trading additions which can be found later in the thread.

1. Posts 1 to 230 relate to the basic DDT approach;
2. Posts 231 onwards relate to a supercharged variant called the Enhanced Diversified Trend Trading approach of EDTT. Comprehensive details regarding the EDTT are found on post 231.
3. Pay particular attention to post 360 onwards relating to a methodological recap of the EDTTI. RedLineFred has kindly compiled this recap into a pdf for easy reference.

Unfortunately to understand this approach in its entirety, you need to do a bit of reading for Posts 1 to 230 are still compuslory for understanding and get's you a beginers certificate before you can advance to supercharged variants. This thread is not a free ride for a trader and demands a bit of effort on the readers part if they wish to participate or trade this approach. There are many nuances that must be understood before committing your hard earned dollars to this technique. I wish you all well, but please do your homework first.

https://www.forexfactory.com/showthread.php?t=771822

Very interesting concept of combining statistical data with trading in forex.

We are sharing great threads. What great threads did you cross?

here's an important one to help new people to be wary of the scam artists that infest this site.

https://www.forexfactory.com/showthread.php?t=513430

Thank you. I just added it to the list. If you find more good threads, let me (us) know!

Advansed TST with numbnuts

Great thread! Added

https://www.forexfactory.com/showthread.php?t=481007
Discussion about how to trade, oh and there is also some stuff about yoyoing.

https://www.forexfactory.com/showthread.php?t=728168
The OP shares his opinions regarding science in forex, in particular FD.

https://www.forexfactory.com/showthread.php?t=737253
Is 1% or 3% profit a day possible? And if so, how? That is what this thread is about. Most traders apparently agree with the 3% or more.

https://www.forexfactory.com/showthr...=750684&page=4
Discussion about what the forex market structure really entails.

Price Action Attack Map ------------------------------
http://www.forexfactory.com/showthread.php?t=520423 FXLester's guide to price action
http://www.forexfactory.com/showthread.php?t=2331 James16's guide to price action
http://forums.babypips.com/free-fore...n-matters.html" Price Action That Matters by Aaron Kruger
https://www.forex4noobs.com/ Forex 4 noobs price action battle plan!

GAMES ------------------------------------------------------
http://chartgame.com/ Personally, i think this is pure genius! I love it, it's an amazing way to brush up on your chart skills and it's actually pretty cool to see how things went. It throws a random chart at you and you have to day trade it, it'll tell you how you did versus a buy & hold strategy and... well it's just really really good!

BLOGS ------------------------------
https://jkonfx.com/ Technical & fundamental news on currencies. I would advise newer traders not to trade solely on external opinions because that won't cement your own methodology or reasons for trading. Excellent website for if you want an overview of the markets and daily reports.Also includes a trading journal and a lot of media attention.
http://www.stocktradingtogo.com/ A good blog for new traders/ investors. Lot of ‘top 10 lists’ to flick through.
http://www.tradingheroes.com/ This is absolutely amazing! I can't put a value on this! It's one of the best gems of the internet. Podcasts interviewing successful traders, some are notable such as 50pips, Walter Peters & Chris Kapre.
http://www.nobrainertrades.com/ Found this when doing the podcast link below, it's actually really good high quality stuff. Blog based with plenty of educational material.
http://www.chatwithtraders.com A weekly podcast that interviews successful traders. Thank you /u/gumballfrank for this.
http://ftp.traderkingdom.com/ Not had much of a chance to check this out, but first impression are nice!
http://www.forexlive.com Heavily oriented towards fundamentals. Good news portal submitted by /u/WinterTires thanks!
http://www.tradeciety.com/ Heavily visually oriented perfect for beginners! Lots of infographics and info. Submitted by /u/gumballfrank
http://orderflowforex.com/ A blog that focuses on Personal Development as a trader. Absolutely essential. It'll help to focus you on your journey to trading omnipotence!

ONLINE SCHOOLS & LEARNING PORTALS -------------------------------------------------------------------------------
http://theinnercircletrader.com/Tutorials.htm Best tutorials in the world by a secret trillionaire.
http://www.tradimo.com A superb website dedicated to training people to become better investors traders for free.
http://www.babypips.com One of the best free online schools which tracks your progress and teaches you heaps on information. The forum is the gem, where many people keep trade journals and put up their strategies. Don't copy them but borrowing concepts and ideas is good.
http://www.forexpeacearmy.com/forex-...on-pro-banker/ Unbelievably thorough! Education on forex trading, literally everything is covered.
http://stockcharts.com/school/doku.php?id=chart_school Very wide ranging resource that focuses mainly on technical analysis.
http://www.investopedia.com This should be a given, but seriously – this place is the Wikipedia of trading/ investing.
http://www.swing-trade-stocks.com/sw...ng-basics.html Actually a really good learning resource that mentions psychology and momentum among other things.
http://thepatternsite.com/Psychology.html Really good information on trading psychology – something that often goes unnoticed with beginners.
http://www.finvids.com/ Cool little website with videos on candle patterns and chart patterns.
http://www.fxacademy.com/ Appears to be a free trading academy. Not tried it personally, but it looks really good. With plenty of videos for visual learners.
http://forex-strategies-revealed.com/intro PEOPLE IN NEED OF A STRATEGY CHECK THIS OUT List of strategies, literally everyone you'll ever need.

ARTICLES OF INTEREST -----------------------------------------------------------------------------
http://orderflowforex.com/2014/11/tr...-proper-order/ There's a lot of information out there, it's overwhelming. You might think "Where the hell do I start?!" well here's your answer! The books you have to read... and in what order! Super important for beginners.
http://www.stocktradingtogo.com/2009...stor-emotions/ An article on the ’14 stages of investor emotions’ knowing who you are and what is happening to you can lead you to make more calculated decisions.
http://fourhourworkweek.com/2014/10/...ster-the-game/ Tim Ferris, author of The 4 Hour Work Week interviews Tony Robbins to find out the success behind the worlds best investors. Talking about morning routines, peak performance & mastering money!
http://www.tradeciety.com/category/trading-blog/ Best trading & investing blogs and articles as picked by tradeciety.com
http://www.forextradetracker.com/blo...-for-beginners Forex jargon glossary for beginners. Submitted by /u/gumballfrank
http://orderflowforex.com/order-flow...-flow-trading/ What is order flow trading? Essential for beginners
FORUMSN/A -------------------------------------------------------------------------------------------------
http://www.forexpeacearmy.com/ Excellent learning resource, main focus is to help avoid people getting scammed.
http://www.trade2win.com/boards/ Massive forum for beginners to talk to more experienced traders – very active community.
http://www.forexfactory.com/forum.php Much like trade2win but more focused towards forex.
http://forums.babypips.com/ Another forum dedicated to forex traders. You'll find people keeping good strategies here, list them via most views first to find the real gems.
MISCELLANEOUS RESOURCES --------------------------------------------------------------------
http://www.forexfactory.com/showthread.php?t=520423 Some beast called Lester showing you how it is! Read this!
http://theinnercircletrader.com/Tutorials.htm If you watch all of these you're already a millionaire!
http://www.forex-warez.com/Free%20Download/ Every book you could ever want on trading, investing, market psychology, strategies etc.
http://www.forextradetracker.com/ SUPER IMPORTANT This website is paramount to your success, still in development but will provide users with an easy way to document trades. Success is determined by your willingness to follow through with the boring bits so keep this one in your bookmarks.
http://www.hotcandlestick.com/candle...card-game.html Super useful Flashcard game that helps you to remember important candlestick patterns.
http://www.hotcandlestick.com/forex_charts.htm Important candlestick patterns that have appeared on the major currency pairs. Good for a quick overview.
http://www.freeonlinetradingeducatio...rt-school.html Website offering visual illustration & practical applications of popular candlestick patterns.
http://www.hotcandlestick.com/candles.htm Glossary of candlestick patterns.
http://www.incrediblecharts.com/topi...nical_Analysis Another resource for learning technical analysis. Not particularly thorough but useful for basic concepts.
http://www.forexschoolonline.com/ Market overviews and trading opportunity videos provided, along with educational videos and the like.
http://www.tradersdna.com/education/ Another trading education site focusing more on forex.



source :
- "https://www.reddit.com/r/Forex/comments/2tbaqp/i_made_a_list_of_resources_for_beginners_and/"
- https://www.forexfactory.com/showthread.php?t=726022

https://www.mataf.net/en/forex/tools/correlation represents the correlation between the various parities of the foreign exchange market.
https://www.oanda.com/forex-trading/...cy-correlation See how currency pairs have moved relative to each other
https://www.mataf.net/en/forex/tools/carry-trade carry trades

https://www.forexfactory.com/showthread.php?t=785801
Discussion about how all of us team up on forexfactory to make profit. (recommended)

Can anyone suggest articles and threads that contain information about: thinking in supply/demand? (supply and demand mindset in the forex market)

https://www.forexfactory.com/showthread.php?t=750004
Fundamental Trading Always beats Technical Trading 100%

One of the more appealing threads for the active traders here. It explains why the volume indicator in forex is better replaced with the CoT (indicator)(say: reports).
https://www.forexfactory.com/showthread.php?t=216247

Quote

Disliked

The Commitment Of Trader (COT) report provides some positioning information about the futures market and it is one of the most underrated tools that forex traders can make use of to increase their trading performance.The report is compiled and released weekly by the Commodity Futures Trading Commission (CFTC) in the United States every Friday at 15:30 Eastern Time, and records open interest information about the futures market based on the previous Tuesday. Anyone can access the COT report for free on the CFTC website(www.cftc.gov/cftc/cftccotreports.htm).