Weekly Trend Trading Method | Page 7 | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

Fractal/Swing Trading Method With Trend 7 replies

bo7a method... method for GBP/JPY 205 replies

Pipster's S\R, Trend Trading Method 14 replies

Easy trend trading method 6 replies

Jacko's P&P Trend Trading Method 73 replies

Attachments: Weekly Trend Trading Method
Exit Attachments

Weekly Trend Trading Method

  • #121
  • Oct 28, 2009 4:14pm Oct 28, 2009 4:14pm
Well I decided to follow this technique with the EUR/Usd. I'm in since 1.4873. I do not have a plan for taking profit as of yet because I figure when it's time for it to go back up the signals should be there. Am I correct? The rsi on the weekly is still above 50. Is this a bad sign?
  • #122
  • Oct 28, 2009 4:26pm Oct 28, 2009 4:26pm
Thank you very much Kaaea!

Yes the positions are turning out quite nice!

The GBPCHF is @ +75 pips
The USDCHF is @ +40 pips
The EURGBP is @+57 pips (Got into this one WAY to early again...BAD zoot!)

Trying to work on keeping my finger off the trigger....
I've gotten lucky the last 2 times so I won't test it again.

Thank you again Kaaea, I hope it helps others!
  • #123
  • Edited 4:44pm Oct 28, 2009 4:43pm | Edited 4:44pm
Glad to hear on your positions, I am in GBP/CHF also, not in the EUR/GBP yet...yes seem you jumped the gun a tad on that one but your in profit for now, most people only learn when they get losses when jumping the gun. I must say you've been luckier than me in that department, and hope your luck continues.

Let's see what setups arise in 15minutes time.
  • #124
  • Oct 28, 2009 4:47pm Oct 28, 2009 4:47pm
Quoting kaaea
Hi lgtj, attached is an example of a trade on £-$ which is too much risk for me personally on my spreadbetting account, I'm sure its fine on an FX account as you have the ability to change lot sizes, I've always tried to risk a fixed % of my account per one trade not over / under exposing myself, otherwise as I've found out at times you can get lots of small wins and one big loss.

What I meant by too risky was just that it's too far out of my personal money management rules for the moment until i have a larger account size to work with. The risk...
Hello kaaea. I don't know anything about spread betting so I can't comment about the risk factor.
  • #125
  • Oct 28, 2009 4:48pm Oct 28, 2009 4:48pm
Quoting Mrezoot
Hello again today all!

Hope everybody's calls are still good!

To give you (this to lg and others unknowing) the know how of posting templates.

As long as your template is saved, you can navigate the file browser to

C:/Program Files/*YOUR BROKER*/templates

The templates are in ".tpl" Files

Hope this helps on down the road for others!
Thanks.
  • #126
  • Oct 28, 2009 4:49pm Oct 28, 2009 4:49pm
Quoting Mrezoot
Thank you very much Kaaea!

Yes the positions are turning out quite nice!

The GBPCHF is @ +75 pips
The USDCHF is @ +40 pips
The EURGBP is @+57 pips (Got into this one WAY to early again...BAD zoot!)

Trying to work on keeping my finger off the trigger....
I've gotten lucky the last 2 times so I won't test it again.

Thank you again Kaaea, I hope it helps others!
Glad to see that you're in profit, but you got to work on the patience.
  • #127
  • Oct 28, 2009 4:57pm Oct 28, 2009 4:57pm
Quoting lgtj
Hello kaaea. I don't know anything about spread betting so I can't comment about the risk factor.
Hi Lgtj, no problem it's something I have to sort out. So far tested £-$ from start of 2009, got 21 setups total this includes aggressive and conservative trades.

Total risk is 8245pips, total return is 4535pips. 17wins, 4losses. Would prefer at least 50 setups on each pair though as a larger sample size will keep you posted where I'm at. Please note 2 of the losses had stops 650+ pips or greater the only 2 of their kind in the volatility at the start of the year so once I get a larger sample size I may dis include trades with 500+ pip stops or something we'll see.
  • #128
  • Oct 28, 2009 5:02pm Oct 28, 2009 5:02pm
Now we have a valid signal on audusd. Although it's close to the lower trend line, I believe that there is enough momentum to the downside to push through the trend line. We'll see.
Attached Image (click to enlarge)
Click to Enlarge Name: audusd.gif Size: 36 KB
  • #129
  • Oct 28, 2009 5:14pm Oct 28, 2009 5:14pm
Look at these charts. Are these signals valid? If so, why? If not, why not? Also, would you take a trade on any of them?
Attached Image (click to enlarge)
Click to Enlarge Name: usdjpy.gif Size: 33 KB

Attached Image (click to enlarge)
Click to Enlarge Name: gbpjpy.gif Size: 33 KB

Attached Image (click to enlarge)
Click to Enlarge Name: eurjpy.gif Size: 32 KB

Attached Image (click to enlarge)
Click to Enlarge Name: audjpy.gif Size: 30 KB

Attached Image (click to enlarge)
Click to Enlarge Name: nzdjpy.gif Size: 32 KB
  • #130
  • Oct 28, 2009 5:54pm Oct 28, 2009 5:54pm
Quoting kaaea
Hi Lgtj, no problem it's something I have to sort out. So far tested £-$ from start of 2009, got 21 setups total this includes aggressive and conservative trades.

Total risk is 8245pips, total return is 4535pips. 17wins, 4losses. Would prefer at least 50 setups on each pair though as a larger sample size will keep you posted where I'm at. Please note 2 of the losses had stops 650+ pips or greater the only 2 of their kind in the volatility at the start of the year so once I get a larger sample size I may dis include trades with 500+ pip stops or...
If you take every signal without paying attention to the trend line channel and s&r levels, then one can lose more than they win. When you read my posts, you'll notice that I wait for valid signals, s&r levels to be broken, and weekly trend confirmation before I take a trade. Besides there is no way that I would have 500+ pips at risk unless I was absolutely sure about the trade. A risk that large would occur on the weekly time frame only. What time frame did you research?
  • #131
  • Oct 28, 2009 6:22pm Oct 28, 2009 6:22pm
Quoting Scratch99
Well I decided to follow this technique with the EUR/Usd. I'm in since 1.4873. I do not have a plan for taking profit as of yet because I figure when it's time for it to go back up the signals should be there. Am I correct? The rsi on the weekly is still above 50. Is this a bad sign?
Please read post 20 and 22 on page 2 about target or take profit options. Eurusd is in an uptrend. Right now price is retracing, but we don't know for how long. The eurusd short trade that I took was a counter trend trade. So it is very important that you set a take profit level. Price can go against you at anytime without warning and hit your stop loss.
  • #132
  • Oct 28, 2009 6:27pm Oct 28, 2009 6:27pm
Hello, I researched those results from the daily timeframe and from using the 4hour for the aggressive setups. I agree that 500pips + is large risk (these trades only occured during the volatility at the start of the year)

I just thought i'd share these initial results so far, once I complete this first phase I will go through the trades using trendlines and s&r ... but if the system looks great without those I will have confidence that trendlines and s&r would make it even better. Thanks for your advice and repeated insights stops me from forgetting certain things that I might otherwise would. I will review the small exam you left tomorrow after some well needed sleep. Bye for now
  • #133
  • Oct 28, 2009 6:34pm Oct 28, 2009 6:34pm
Hi, guys!

I have been following this method and I like it so here is my analysis of your charts.

USDJPY: no trade, signal lines do not have the same color, not in the same direction, plus monthly pivot line and support are about the same level, so it might be a quite strong support in there

GBPJPY: no trade, signal lines are different color and do not line up in the same directions, rsi above 50, price sitting on the support, macd should be below the line

EURJPY: trade, valid signal, signal lines are the same color and the same direction, macd below line and falling, rsi below 50, target monthly pivot

AUDJPY: trade, the same conditions are met as for previous EURJPY, however I would like to see close below mR1 or enter a trade below that line

NZD JPY: trade, the same as above with AUDJPY, however here it looks like it is going to bounce of the monthly pivot and go up towards that blue support channel line and bounce back down.

let me know... if the analysis are OK. Great system, easy to follow and doesn't take too much time.
"All good things come to those who wait..."
  • #134
  • Oct 28, 2009 6:37pm Oct 28, 2009 6:37pm
See ya later and get some sleep Kaaea. I'm tired also and have to get some sleep. Gotta go to work in the morning.
  • #135
  • Oct 28, 2009 6:42pm Oct 28, 2009 6:42pm
Hello lostfx and welcome to this thread. I'm glad you like this method. Give me a moment while I review your analysis.
  • #136
  • Oct 28, 2009 6:56pm Oct 28, 2009 6:56pm
Quoting lostfx
Hi, guys!

I have been following this method and I like it so here is my analysis of your charts.

USDJPY: no trade, signal lines do not have the same color, not in the same direction, plus monthly pivot line and support are about the same level, so it might be a quite strong support in there

GBPJPY: no trade, signal lines are different color and do not line up in the same directions, rsi above 50, price sitting on the support, macd should be below the line

EURJPY: trade, valid signal, signal lines are the same color and the same direction, macd...
Great job lostfx. Here are the answers.
Usdjpy - Correct no trade, but the signal lines don't have to be the same color(aggressive signal).
Gbpjpy - Correct no trade, Except that signal lines can be different(aggressive signal).
Eurjpy - Correct
Audjpy - Correct
Nzdjpy - Correct. I don't think that this pair is going to go down that much further because it is in a strong uptrend (look at the weekly chart). I think it's retracing for now and will resume its upward trend. We'll see what happens. Great job!
  • #137
  • Oct 28, 2009 7:00pm Oct 28, 2009 7:00pm
Although audjpy, eurjpy, and nzdjpy gave valid signals tonite, I didn't place trades for these pairs because the signal candles were too long for me.
  • #138
  • Oct 28, 2009 7:04pm Oct 28, 2009 7:04pm
Hello, lgtj!

Thanks for the prompt answer. I'm glad that I'm on the right track. I have one question for you. Let's say on day1 you get a signal and you enter a trade. On the second day you close for profit. On the third day it may continue further in the same direction and all signals are still valid. Will you open again a new trade? In other words for how long the initial signal is valid for?
"All good things come to those who wait..."
  • #139
  • Oct 28, 2009 7:10pm Oct 28, 2009 7:10pm
One more indicator that I'm using with your system is in10tion news reader 0.97. Iy gives very nice overview of the pair plus it shows the news.
Attached File(s)
File Type: ex4 ! IN10TION NewsReader v09.97 lite.ex4   114 KB | 376 downloads
"All good things come to those who wait..."
  • #140
  • Oct 28, 2009 7:20pm Oct 28, 2009 7:20pm
Quoting lostfx
Hello, lgtj!

Thanks for the prompt answer. I'm glad that I'm on the right track. I have one question for you. Let's say on day1 you get a signal and you enter a trade. On the second day you close for profit. On the third day it may continue further in the same direction and all signals are still valid. Will you open again a new trade? In other words for how long the initial signal is valid for?
Good question. I'm still working on a re-entry method. If you take a trade, and it's with the trend, let it ride with the trend. If the trade is a counter trend trade, then take profit at your predetermined level. The signals that were given this week were primarily counter trend signals. For example the nzdusd short trade that I took was a counter trend trade. Although price went much further than my 107 pip target, I will not re-enter if price continues south. I would wait for a retracement, a rejection of the retracement, and another valid signal to go short. I hope I answered your question.
0 traders viewing now