Disliked. In fact, I reckon there are better ways to determine trends than the actual trendline.Ignored
up through last resistance, maybe an "EVEN".
I EVENS.
Anyone else?
Now we're cookin' with fire!
FXS
Follow the trend on high timeframes - The holy grail? 23 replies
EA just follow the trend 2 replies
How do you Define Identify and Follow Trend? 5 replies
Follow the trend 14 replies
Disliked. In fact, I reckon there are better ways to determine trends than the actual trendline.Ignored
DislikedBecause it is by far too inefficient to reinvent new levels every other day. And why would one? Market's worked fine so far with the old ones.
In fact I am a believer in (my own) the theory, that there is ONE 1000 pip grid that simply gets overlaid over and over again on a pair.
Seems to apply to 1.8xxx and 1.9xxx cable at the very least and the story for EURUSD seems plausible as well. It also explains how one derives s/r for "new" price levels. You simply take the old ones.
If things sound too simple for people to believe it, it is most likely true.Ignored
DislikedI believe that the "retrace bus" you mention is actually a stoploss run played by "the bad boys". Some people trigger entries as new highs are made and stops are moved to breakeven quickly; well, the bad boys push price down to trigger those stoplosses, shaking the small fishes out of the pond and re-buying in at a better price off them.Ignored
DislikedPlease don't take this the wrong way, but I know these questions all too well. These are gigantic signs of a) being afraid to lose (more money) and b) not trusting anything until somone hands you a signed written form saying "this will never fail".
Truth is - you're not trying to outguess and perfect every trade. A truckload of trades WILL FAIL. If you trade some entries like retraces or trendline touches aggressively, you WILL have to "just throw money on" at those points if that's your style. If you use PA and candlesticks, you WILL have to simply trust that people didn't invent these for nothing and lastly, but most importantly, you have to actually start trading them day in day out AS THEY OCCUR instead of wondering at each setup "will this one work? is this the perfect setup? is this sure to go or not? am i getting in too early? am i getting in too late?"
-> This is what demo is for - you learn to press the button in real time BUT you are allowed to make mistakes and actually review them. It is most important however to a) be honest to yourself about it and b) actually trade like it were REAL money and not just "meh, just demo anyway".
The answers to ALL these questions come from one thing - experience of actual live trading. People can TELL you everything, and you will still not trust any of it until you have actually done it dozens of times yourself first.
Failed trades and losses are part of the game. The whole "trick" is learning to accept that and move on. Over-thinking the theoretical part and trying to perfect everything into "no loss"-dom will never ever work and is just mentally crippling. I've gone through that phase, I am not just slinging words here...
Like I said, no offense intended. (also attaching an example of a low timeframe, temporary trendline which obeyed the "enter on the 'first' = third touch" rule to illustrate what I meant by that)
Take care,
SeekingLightIgnored
DislikedHi superdezign
I think that it could be said that I am a Trend Trader.
Have a quick browse through here:
http://www.forexfactory.com/search.php?searchid=1359076
It may help.
.Ignored
Dislikedplease help by posting here or sending me a PM, I can't seem to find this post mentioned above or the other references by Jacko
txIgnored
DislikedI personally like to pay as much attention to horizontal levels of support/resistance as to trendlines, specially to candlestick formations occurring at those levels. In fact, I reckon there are better ways to determine trends than the actual trendline.
Example: current chart of EURJPY belowIgnored
DislikedWTB, it seems like the SR lines you posted aren't good examples of SR lines... isn't a good SR line supposed to be actually tested? Your lines have one candle wick touch them, and then they're broken through. Or am I missing something?Ignored
DislikedAfter losing big on a few trades today, I've decided that while I will still do occasional trades on a 4-hr chart, I'm converting to a daily kind of guy. First of all, while I'm not that well capitalized (I've got a few K), I've got enough to set my stops large enough that I won't get stopped out by spikes. I'm going to use an indicator for confirmation, but I am going to try to use trending as much as possible. I'd rather live my life than sit at my computer looking at it every hour (or less time) during the day (or even every 4 hours . Has anyone else had this type of "I'm tired of it" switch...?Ignored
DislikedI am sure you have heard the trading principle "former resistance turned into support". See in my chart how those lines acted previously as swing tops and later on they held the retracement and thus acted as swing bottoms?
For example, have a look at what happened today friday early morning on EURUSD around 1.3500 and now look at what happened yesterday at that precise level. Yesterday 1.3500 acted as swing top, then we broke it during Tokyo session and retested prior London open. There's a confluence of horizontal support there (previous swing top + round number + weekly R2 pivot). Having proofed that level strong enough to hold the retrace, it has confirmed the up-bias for the first half of London session pushing EURUSD to 1.3540 (current market price as I type these lines).Ignored
Dislikedin the direction of the overall trend
in case of an downtrend....
you need a strong trend to make it wortwhileIgnored
DislikedSorry for the multiple posts guys. A question:
For mid-to-long-term trend trading (say, a week to month timeframe based on daily charts), how big are typical stop losses set to? Should I just follow a typical RR ratio of 3:1 or similar?
It seems that to give room for things like news releases, my SL needs to be at least 100-150 pips for a mid-term trade... isn't that really the only way to protect myself against spikes?Ignored
DislikedHere is an analogy my wife came up with.
You know those little fish that swim along side a whale or even the sharks?
Well, the whale or the shark is the market and we are the small fish swimming along the the whale/shark. As long as we keep our eyes on it, stay close to it and go the same direction it is going, we are safe. However, when we get away from the whale/shark or start swimming in the opposite direction, the very thing that was protecting us and feeding us, suddenly is in a position to devour us.
Point is, we must stay close to the trend and go where ever it goes.
StanIgnored
DislikedHow about this analogy?
We are swimming in the river. As long as we go along with the stream we are safe and no need to push our energy, but when the time come we need to go against the stream, we need to put extra energy to swim. How much energy we can spend depend on how fit we are (or in margin sense, how strong is our margin)? We can’t against the stream every time because we’ll be exhausted and could be drown and die (or in margin sense, we are margin call, and our position close automatically).Ignored