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Trend Trading Chart Thread

  • #301
  • Nov 17, 2009 1:49pm Nov 17, 2009 1:49pm
Quoting coolshades
i use fxdd mt4 charts and trade on oanda. dont use oanda charts.
Cheers coolshades and castlerock.

With regards to oanda...

That was my thought. Use mt4 charts but place orders through oanda 8if i go with them).

One thing i cant seem to "understand" with oanda. I havent had a lot of time to look thoroughly but, i cant see if they use pending "stop" orders...

Do they just do market/limit orders?

Sorry for the ignorance here mate...

Im wanting to open a small micro account. I think its good to demo, especially in order to get used to the platform, method and markets in general. But going live, even with a small account, is a psychological BEAST that i must confront.

At the end of the day, trading is pure psychology. So small live accounts, IMHO, is the way to go....

thanks again guys!!!
  • #302
  • Nov 17, 2009 5:00pm Nov 17, 2009 5:00pm
market and limit orders. is good enough for me.

Quoting Pipalicious
Cheers coolshades and castlerock.

With regards to oanda...

That was my thought. Use mt4 charts but place orders through oanda 8if i go with them).

One thing i cant seem to "understand" with oanda. I havent had a lot of time to look thoroughly but, i cant see if they use pending "stop" orders...

Do they just do market/limit orders?

Sorry for the ignorance here mate...

Im wanting to open a small micro account. I think its good to demo, especially in order to get used to the platform, method and markets in general. But going live, even...
  • #303
  • Nov 18, 2009 5:44am Nov 18, 2009 5:44am
Stopped out on the EUR/GBP for 100 pips profit.

Stops on USD/CAD and GBP/AUD moved to breakeven.
  • #304
  • Nov 18, 2009 10:38am Nov 18, 2009 10:38am
has anyone traded gold/silver using this system?
  • #305
  • Nov 18, 2009 11:05am Nov 18, 2009 11:05am
When we use trend lines to enter the trade how much confidence do you want in your trend line? What I mean, should there be 3 or 4 touches of the line before we confirm it?

If a trade goes against me and I implement the anti hedging strategy, do I just sit there and wait even if it goes down another 100? Or would I try and get in the next round number if I still feel it is going to go back into the trend?

Look at the GBPCHF daily. Is this a retracement, new trend, or a continuation of the previous uptrend? This is hard for me to recognize in the higher time frames, is a discount or going in a new direction.

If I can't see it or understand it I will not trade so I'm leaving a lot go by me.

Any help on this could help me.
A woman drove me to drink, and I forgot to thank her
  • #306
  • Nov 18, 2009 11:43am Nov 18, 2009 11:43am
Quoting simpleguy
When we use trend lines to enter the trade how much confidence do you want in your trend line? What I mean, should there be 3 or 4 touches of the line before we confirm it?

If a trade goes against me and I implement the anti hedging strategy, do I just sit there and wait even if it goes down another 100? Or would I try and get in the next round number if I still feel it is going to go back into the trend?

Look at the GBPCHF daily. Is this a retracement, new trend, or a continuation of the previous uptrend? This is hard for me to recognize in...

I'll take a shot at this one. Major uptrend line broken a few months back...price still under 100sma...new trend line has not been broken...yet. This is where I would be watching now.

Try line charts for a few weeks and you will see things in a new perspective. Try and keep it simple.

golferfx
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  • #307
  • Nov 18, 2009 12:24pm Nov 18, 2009 12:24pm
recent G/$ 4h low on 11/12 was 6514 recent high on 11/16 was 6876 50% retrace is approximately 6700. Daily seems unclear to me. Weekly 50% retrace is approximately 6300 (10/11 low 5706 same 11/16 high) seems quite a distance from here. correlated E/$ is showing lower highs and lows on 4h. I may be over complicating what should be a more straight forward method.
  • #308
  • Nov 18, 2009 1:22pm Nov 18, 2009 1:22pm
Quoting simpleguy
When we use trend lines to enter the trade how much confidence do you want in your trend line? What I mean, should there be 3 or 4 touches of the line before we confirm it?

If a trade goes against me and I implement the anti hedging strategy, do I just sit there and wait even if it goes down another 100? Or would I try and get in the next round number if I still feel it is going to go back into the trend?

Look at the GBPCHF daily. Is this a retracement, new trend, or a continuation of the previous uptrend? This is hard for me to recognize in...
Hi simpleguy, this is how i have my gbp/chf H4chart at the moment the daily on this pair at the moment is not as clear cut as some of the others at the moment usd/aud example this is how i am using fibs and trendlines don't know if this will help i also find if I'm not sure what direction a pair is going i leave it and look for a pair that i more clear cut.
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  • #309
  • Nov 18, 2009 1:31pm Nov 18, 2009 1:31pm
Quoting castlerock
Hi simpleguy, this is how i have my gbp/chf H4chart at the moment the daily on this pair at the moment is not as clear cut as some of the others at the moment usd/aud example this is how i am using fibs and trendlines don't know if this will help i also find if I'm not sure what direction a pair is going i leave it and look for a pair that i more clear cut.Attachment
Hello all !!

I prefer this one.
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  • #310
  • Nov 18, 2009 3:37pm Nov 18, 2009 3:37pm
i think if you zoom out on this very same chart you will see a lot of sideways movement. not my fave pair to apply this system too.

currently most of the strongly trending pairs are in no trade zones, atleast on my charts, specifically eurusd, audusd, nzdusd, euraud, audcad, usdjpy, and usdcad. sit back and wait for price to come to you.

Quoting Juancho
Hello all !!

I prefer this one.
  • #311
  • Nov 18, 2009 4:12pm Nov 18, 2009 4:12pm
Quoting castlerock
Hi simpleguy, this is how i have my gbp/chf H4chart at the moment the daily on this pair at the moment is not as clear cut as some of the others at the moment usd/aud example this is how i am using fibs and trendlines don't know if this will help i also find if I'm not sure what direction a pair is going i leave it and look for a pair that i more clear cut.Attachment
Nice clean sweet looking chart there mate.

Nice.

Just thought id say that
  • #312
  • Nov 18, 2009 4:31pm Nov 18, 2009 4:31pm
I have a bunch of charts on my screen and I'm trying to learn how to trade on the longer time frames. I'm having difficulties with this right now so what I did was made a spread sheet with each pair on it and what they are doing in the weekly, daily, & 4 hr mode and a little on what I think where the pair is going and doing.

Would love to have some opinions on this. Am I right on track or I'm a simple blundering idiot that has more to learn than I even think I do. Loaded statement on this thread, constructive feed back please.

Any pairs I should add? Take off?

Thank you in advance for your help!
Attached File(s)
File Type: xls trend sheet.xls   19 KB | 348 downloads
A woman drove me to drink, and I forgot to thank her
  • #313
  • Nov 18, 2009 4:57pm Nov 18, 2009 4:57pm
My Usd/cad was taken out earlier today at break even.

Still in e/u (be) and g/u (100pips locked)...

Also, looking and watching for a possible entry long in gbp/chf.
I see a 50fib retrace, dailies/4h uptrend line, round number.
If all well, i will be going long at 1.6950.

Nice and simple....
  • #314
  • Nov 18, 2009 8:00pm Nov 18, 2009 8:00pm
Hi all,

New to this thread.

I view long term GU charts (monthly, weekly and daily to be in an uptrend). 50% of the Nov 12th to 16th trend +/- put me at 1.67000.

Long at 1.67000

Regards,
BR
  • #315
  • Nov 18, 2009 8:24pm Nov 18, 2009 8:24pm
I've been watching this area (1.6700) for a few days now and has finally arrived, but the brakes are still on despite the 50% fib, round number and the trendline. I'm waiting for confirmation that these barriers will hold before entering at 1.6750, price is not guaranteed to respect these barriers, it's always best to wait until there is positive confirmation that price will move away.

I'm obviously hoping price will respect these barriers and the market will allow me to take some profitable pips.
Attached Image (click to enlarge)
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  • #316
  • Nov 18, 2009 8:28pm Nov 18, 2009 8:28pm
Stopped out for +100 at 1.6700 keeping an eye on the 1.6650/7 area for possible re'entry.
  • #317
  • Nov 18, 2009 9:15pm Nov 18, 2009 9:15pm
Quoting Pipalicious
My Usd/cad was taken out earlier today at break even.

Still in e/u (be) and g/u (100pips locked)...

Also, looking and watching for a possible entry long in gbp/chf.
I see a 50fib retrace, dailies/4h uptrend line, round number.
If all well, i will be going long at 1.6950.

Nice and simple....


You should look at your chart again pip...I'll be selling when your buying!

Nice and simple.
Attached Image (click to enlarge)
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  • #318
  • Nov 18, 2009 10:59pm Nov 18, 2009 10:59pm
XJ8,

Isn't it suggested that you get in at the 50% fib / round number and stop out if it fails? Then to re-enter at the stopped out price in the future and use the anti-hedge to get back in?

I had thought in my reading the confirmation of a trend reversal is what was implied not each entry.... or do I have it wrong?

Thanks
BR


Quoting Xj8
I've been watching this area (1.6700) for a few days now and has finally arrived, but the brakes are still on despite the 50% fib, round number and the trendline. I'm waiting for confirmation that these barriers will hold before entering at 1.6750, price is not guaranteed to respect these barriers, it's always best to wait until there is positive confirmation that price will move away.

I'm obviously hoping price will respect these barriers and the market will allow me to take some profitable pips.
  • #319
  • Nov 19, 2009 5:08am Nov 19, 2009 5:08am
Quoting golferfx
You should look at your chart again pip...I'll be selling when your buying!

Nice and simple.
OI!!!

So its you then is it? selling it to me?! hmmmm...

lol.

Still learning bro. However, im sticking to my guns. Time will tell.

you using the weekly/daily to trade or 4h charts?
  • #320
  • Nov 19, 2009 5:34am Nov 19, 2009 5:34am
Quoting simpleguy
When we use trend lines to enter the trade how much confidence do you want in your trend line? What I mean, should there be 3 or 4 touches of the line before we confirm it?

If a trade goes against me and I implement the anti hedging strategy, do I just sit there and wait even if it goes down another 100? Or would I try and get in the next round number if I still feel it is going to go back into the trend?

Look at the GBPCHF daily. Is this a retracement, new trend, or a continuation of the previous uptrend? This is hard for me to recognize in...
Hi Simpleguy,

Everyone draw's trendlines differently so take some time to get comfortable drawing the most simple trendlines you can. The idea of the trendline in this system is that it is indicating likely areas of support and resistance – it is not an exact science!

This is how I would do it... first you need to choose a time frame and chart period that is suitable for what you are trying to achieve. If I were trading GBP/CHF - which I must point out I am not so my advice is based on a quick glance at the chart rather than an extended study - I would be using the 4 hour chart zoomed out to about 300 bars. If you do that you would see that the trend is not totally clear so I wouldn't be trading it... so let's try something else...

Pull up a 4 hour chart of EUR/USD and you will see a clear uptrend. Draw a trendline using the lowest points of the chart. You should have something like the yellow trendline I have on the attached chart (the blue trendline is from the daily chart... just for my own point of reference - you don't need that one drawn in though).

Use that trendline, in conjunction with the 50% retracement level and nearby round numbers to guide you to the right area. And remember, it is just a guide.

If it goes wrong and you want to employ the anti-hedge strategy you wait for price to go past your stop loss by at least 50 pips (assuming we are still talking E/U). Then you re-enter at the price you were stopped out. You leave this order in until you think the trend has changed. The other thing to remember is that if you realise your original trade was a mistake (perhaps you rushed into a trade without thinking it through) then I wouldn't use the A-H trade; I would think about where I would place a fresh trade.

I hope that helps.

Regards,

Dan
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