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30M Day-Trading Method

  • #21
  • Apr 1, 2009 8:37pm Apr 1, 2009 8:37pm
Quoting AndsX
Is this trade taken against the trend
There are many trends on all different time frames.

If what looks good on a larger time frame can and will help with my decisions on the 30M time frame.

I'm sorry to say, there is indeed some form of discretion involved with this method, like a lot of others. As I said in the first post, nothing is set in stone. Never will be, because you know why? Forex doesn't go the way you want it to, it is like a snake in your hands wriggling around that is uncontrollable. It only takes 1 person to off-set your plan of buying or selling at a particular price.
  • #22
  • Apr 1, 2009 8:41pm Apr 1, 2009 8:41pm
AUD/USD

Currently at 60 pips, stop adjusted to most recent LOW

Cheers
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  • #23
  • Apr 1, 2009 9:05pm Apr 1, 2009 9:05pm
Quoting VitaminBeer
There are many trends on all different time frames.

If what looks good on a larger time frame can and will help with my decisions on the 30M time frame.

I'm sorry to say, there is indeed some form of discretion involved with this method, like a lot of others. As I said in the first post, nothing is set in stone. Never will be, because you know why? Forex doesn't go the way you want it to, it is like a snake in your hands wriggling around that is uncontrollable. It only takes 1 person to off-set your plan of buying or selling at a particular...
Cool. Just tyring to understand it better. When trading 30min i also look for the general trend in 1hr.

How do u oscillators in making a trade decision? Do you see if there no divergenace?
  • #24
  • Apr 1, 2009 9:08pm Apr 1, 2009 9:08pm
Quoting AndsX
Cool. Just tyring to understand it better. When trading 30min i also look for the general trend in 1hr.

How do u oscillators in making a trade decision? Do you see if there no divergenace?
Correct! - I will also use it on say 1-4Hrs and look out for any very obvious divergences, and will see if I can align something up with the 30M to go with it.

Hope that helps.

I am more than happy to help anyone who is interested and has good questions.
  • #25
  • Apr 1, 2009 11:23pm Apr 1, 2009 11:23pm
Alright, here is a potential setup for E/U - Nothing is definite, so we take our chances with small risks, even if we have to do it a few times so that we can catch a bigger move.

E/U on 1 Hour chart is showing bearish divergence
E/U on 30M has shown a candle by-passing another candle.

The stop loss is just above the high sitting at 1.33020, there is also the Daily R1 pivot hanging about.
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  • #26
  • Apr 2, 2009 12:20am Apr 2, 2009 12:20am
What pairs u trade?
  • #27
  • Apr 2, 2009 12:30am Apr 2, 2009 12:30am
Quoting AndsX
What pairs u trade?
Mostly whatever is looking good at the time. I try not to trade to many pairs that correlate, but some days the E/U and the G/U fly in different directions and one goes better than the other in the same direction.

I don't touch G/J unless I see something really spectacular.

Other then that, it's whatever I catch. My usual is G/U, E/U and A/U and sometimes E/J. If I don't see any good setups on those or in the near future I look at other pairs.

Spread is not really a big problem for me, as paying the extra few pips to put a trade on is not really a drama when your going for more than 50 odd pips.
  • #28
  • Apr 2, 2009 12:32am Apr 2, 2009 12:32am
What do u think of sell here. The oscillator is on HH. Do we have to conisder that since the price is showing LL and the oscillator is also in LL
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  • #29
  • Apr 2, 2009 1:13am Apr 2, 2009 1:13am
Quoting AndsX
What do u think of sell here. The oscillator is on HH. Do we have to conisder that since the price is showing LL and the oscillator is also in LL
Because the oscillator is High, it would show that it is in overbought area (normally speaking) - so therefore you would think that there is room for it to go down again further.

the 30M chart is set for a sell, however it is breaking through a trend line now as I write this, so be weary it might backfire and go back up, keep your stop loss just above like in the picture, if it goes back up and hits your stop that's okay, wait for a retracement going long.

Keep an eye on bigger time frame trend, 1HR/4HR, it's best if your going with either one of those in accordance with the 30M

Hope that helps
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  • #30
  • Apr 2, 2009 1:17am Apr 2, 2009 1:17am
E/U stopped out -28 pips

A/U still running currently +98 pips

G/U still running currently +212 pips
  • #31
  • Apr 2, 2009 1:21am Apr 2, 2009 1:21am
Quoting VitaminBeer
Because the oscillator is High, it would show that it is in overbought area (normally speaking) - so therefore you would think that there is room for it to go down again further.

the 30M chart is set for a sell, however it is breaking through a trend line now as I write this, so be weary it might backfire and go back up, keep your stop loss just above like in the picture, if it goes back up and hits your stop that's okay, wait for a retracement going long.

Keep an eye on bigger time frame trend, 1HR/4HR, it's best if your going with either one...
Nice. That's how i traded it. Let's see how it goes. Thanks for all you inputs
  • #32
  • Apr 2, 2009 2:36am Apr 2, 2009 2:36am
Quoting AndsX
Nice. That's how i traded it. Let's see how it goes. Thanks for all you inputs
Looks like the trend line rejected it mate, not to worry - try again

You shouldn't have lost more than 30 pips on that one.

I'm feeling some funky stuff going on with e/u and g/u ... let's wait and see how things pan out.

Be back later.
  • #33
  • Apr 2, 2009 3:09am Apr 2, 2009 3:09am
Lost 18pips. Now it's looking good for Buy.

I see on EU there is a bearish divergence so won't be a good buy here. Might be a sell? Am i reading right
  • #34
  • Apr 2, 2009 3:36am Apr 2, 2009 3:36am
Quoting AndsX
Lost 18pips. Now it's looking good for Buy.

I see on EU there is a bearish divergence so won't be a good buy here. Might be a sell? Am i reading right

Not really too sure mate...
I'm having some thought on the E/U - everything is there to tell me to sell.
30M and 1Hr are both showing Bearish Divergences, and it's broken the low on the 30M chart.

My original decision still remains there, sell on the divergence but I was stopped out, even though it was merely just a spike, stop loss probably wasn't really high enough. I'm not going to trade that one tonight, let it run it's due course and then I'll act on whatever it gives me then, just to be sure.

This is where you need to sit back and think ... it's just a trade, there will be hundreds more after this one, if your not sure about something just let it play out until you are sure.

So I'm still for a sell, either way see what cracks out

Cheers,
  • #35
  • Apr 2, 2009 4:33am Apr 2, 2009 4:33am
Currently open and running

G/U +267 pips with +152 locked in

A/U +128 pips with +76 locked in
  • #36
  • Apr 2, 2009 4:41am Apr 2, 2009 4:41am
VitaminBeer

I am impressed. Its great system. I trade almost same system but its only for one candle but your system will give me chance to trade more than one candle. Its best trend following system with bundles of pips. I will defiantly practice hard for this. I have already similar approach practicing your system will left no more need for me to look. My post has not so many technical words for your system but these are words of appreciation.
Great and many thanks

bigmanin
member
  • #37
  • Apr 2, 2009 4:49am Apr 2, 2009 4:49am
Quoting bigmanin
VitaminBeer

I am impressed. Its great system. I trade almost same system but its only for one candle but your system will give me chance to trade more than one candle. Its best trend following system with bundles of pips. I will defiantly practice hard for this. I have already similar approach practicing your system will left no more need for me to look. My post has not so many technical words for your system but these are words of appreciation.
Great and many thanks

bigmanin

Cheers mate

I'm glad it's been helpful to you

All the best,

VB,
  • #38
  • Apr 2, 2009 5:28am Apr 2, 2009 5:28am
Well the E/U went flying without a doubt. Divergences can sometimes be a nuisance in that they aren't always accurate, but they can also be a godsend and provide some very good trades with early warning of trend change, allowing you to get in at the top or the bottom of a ride.

Doesn't matter, there will always be another chance.

Last arrow indicates where the entry should have been
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  • #39
  • Edited 7:13am Apr 2, 2009 6:42am | Edited 7:13am
Looks like a good setup here.

Edit: Currently up +40 pips. Will close out before US news release.

TimeFreedom
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  • #40
  • Edited 7:22am Apr 2, 2009 7:07am | Edited 7:22am
Quoting TimeFreedom
Looks like a good setup here.

TimeFreedom
Looks good, but after such a big strong move I like to see a bit more of a retracement.
Checking the 1 Hour chart and the 5 EMA's used on that one is a good gauge, then it can get ready to line itself up again.
Also bear in mind, the stoch's is reading on 30m, 1hr and 4 hr as overbought.
It is also nearing some old high's, check them out on a higher time frame

Just thought I'd point those out to you

See how it goes, all the best.

VB,


------------------------------- UPDATE

It's going for it, well done mate

There is a fair bit of heavy news on this evening so I'm a bit on my tippy toes about adding new positions at the moment.
Just hope it breaks past that 133.750 zone for you.

Cheers

Oh in case anyone is wondering, I close all my positions before the market shuts down for the week.
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