simple trend trading

Normal Asian trading.



cheers

TEB

Hey one an all
I am not sure any one is out there so I think this will be my last posting.

I had a great night . the Aud/usd Hit Target
and I closed the 2 euro trades this morning
for 227 pips



ok to recap the system 2 ideas or trades

1. Simple TL or S/R breaks trade
a. The 200, 100, 50 emas have to be stacked
b. Pointed in the right direction of the stacking
c. Best if price is close to the 20ema (highter % of win)
d. I don't care about the Stoch in this trade.

2. Over bought over sold trade. (picking tops & bottoms)
a. 200,100 ems have to be stacked & poining in the right way
b. the 50 ema is best if its stacked & pointing the right way
.. but you have a little play .. esp with a strong break
c. you want price coming out from the wrong way from the 20 ema
(a little pip room..) again you have a little play with this.
the closer the highter % win
4. You enter with the Stoch coming out of the 20 or 80% zone.


Stop loss - one of
a. Hard stop 2 swings back
b. mental stop 1 swing back .. only if price closes on the wrong side of stop not crosses.
c. Stops at the "54", "104" down "94" "46" up
d. Stronge TL or S/R on higher time frame
d. try to get a free trade as soon as you can ...


Targets
a. same as stop loss but the other way
b. not a bad Idea to have a number of targets
ie.
a. 1st lots target "04" on the chart 28 pips away
b. 2nd lot just let it swing
c. 3rd lot trailing stop of 50 pips (I trade on oanda they do not them)

On slow days
ie friday, monday, holidays
and off hours
the "00" & "50" are targets for the big boys
... likey should be watched.

Free stuff
Fibs & p.pionts will lose always
unless you are doing week or higher time frames.
these are the only ones the big boys use .
(Mostly because of the cot)

well that is about it

cheers

teb

I like it mate, i do something very similar but usually just lurk on here, so keep posting if you want. Hope fully some newbs will catch on and get the simplicity of what you show. If your MM is right then you have nothing to fear with this kind of trading.

As I am heading to work this morn.
I will be using the 15 min charts this morning



Cheers

TEB

Hi all...

Well would not say there is nobody watching you trade....just had a look and there were about 17 people looking.....

So continue if you have the time..its good to see basic methods working well..

Hi one and all

Can not post charts.. at work great day for trading so far!

Not so great this morning ... about broke even....
but things changed this afternoon
back to the 5 min charts
on the euro its up up & away

for the day : 2 loser & 6 winners

On a number of the other charts we very clear trends change

I thought we would see this move yesterday .. today will do

cheers

TEB

This has been a good night for this system
three trades on for over 200 pips.
That is good for me... and go to bed



Cheers

TEB

Hi one and all

I have 3 trades on tonight & I will be watching
I am in on all three
(Oanda charts are a little diff.)



Eur/Usd -5 min



Usd/Jpy -5 mins



Aud/Jpy - 5 mins

cheers

teb

hi all

All three trades are going well,
we are ready for the 7:00 hour.
all 3 pairs have big R/S -TL to break
If they do then we could have some nice runs








Cheers

TEB

How many trades do you take on an average day? Thanks.

the eur is acting funny ...

I hoper to turns around
I closed 1/2 my lots on both of the Jpy pairs trading







TEB

1-10 on a nornal day like 3 or 4 most days.

But it depends how I am trading
also more trades in a range then a trend .. right

Cheers

teb

Usd/Jpy 2nd lot taked - SL- out so I got 33 & 50 pips on both lots
aud/Jpy 2nd lot taken -SL- out so I got 42 & 67 pips on both lots


The Eur is down 32 pip on both lots
if it close above 1.3264 I will close it

I think both of these Jpy pairs are setting up again
but I am going to go & watch the hockey game!

been a ok night: Depents what happens with the euro


cheers

teb

Hi Teb,

when you trade the jpy pairs they are obviously correlated and so you are perhaps overexposing yourself to yen weakness?
Over the long run i think its better to just concentrate on one pair, for example the eur/usd which is a very trending market.

If you do trade both usdpjy and audjpy as you did yesterday, would it be better just to choose one of those set ups and put your full position into one pair?

just curious to hear your thoughts.

I used to trade a trend following system using 3 moving averages on a longer term time frame, and trading breakout of trendline, pullback and continuation in the direction of the trend.

Great week !!

I did just over 1200 pips for the week ..


Next week I think I will be trading : trend system _ MA, Bband & Stoch

http://www.forexfactory.com/showthread.php?t=164295


Cheers

Teb

Fantastic Result! Congratulations.

Any specific reason why you would be trading that next week? Do you trade different systems depending on how you perceive the market. (trending, sideways, etc.)

What started off as a simple 3 ma system has evolved into a 4 ma system with a lower indicator and an additional system has been put into play. Please explain this process of evolution. I can learn more from your reasoning than I can from your results.

Did you read ther thread?

I added a 2nd type of trade

Cheers


TEB

well ... if you like to know ......
I am having a contest with 3 other traders and we all choice this system.

We all liked it and we all had it as our 2nd or 3rd choice

cheers


teb