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Trend Trading All Pairs

  • #281
  • Dec 3, 2009 7:40am Dec 3, 2009 7:40am
Hi
I understand how you use this method in trend trading. I use a very simillar way in my own trading, but it would be great if someone could explain how they use it in pattern breakouts. Like someone said before i do not post on forums most of the time and honestly do not fallow them because most people posting do are not profitable trading. I can honestly say having traded fulltime and part time for 5 years this way of trading has a very good foundation when it comes to how price action works in the forex market.

chris
Chris
  • #282
  • Dec 3, 2009 7:44am Dec 3, 2009 7:44am
Quoting Custos
Hi, as you can see on my post count, I normally just read through the threads and don't post on this forum.
However, since I also use hector's method as my main method of trading (with slight variations), and this is the first thread I've found related to hector's method, I am also gonna start posting here.

My first post: AUDNZD H4 setup, it's a well defined range, which is just breaking out. Now waiting for the bpc on the H1. Would appreciate any comments on that one.

Best Regards
HI Custos,
It has been ranging for a while in a nice upward channel, as the the 4hr charts shows, when looking a the daily it is getting to ready to test the resistance level that has been in place since July of 2008, so keep an eye on that level.

And welcome to the thread. Glad to see we are all trading the same method here!

--NM
Attached Image(s) (click to enlarge)
Click to Enlarge Name: uptrend channel.gif Size: 25 KB
Click to Enlarge Name: daily resistance.gif Size: 25 KB
  • #283
  • Dec 3, 2009 7:57am Dec 3, 2009 7:57am
Thanks for the welcome,

and thanks for the hint about the resistance level. I was planning on cutting my profit target short, and only gonna get in, if the bpc allows me to have a 1:1.5 risk reward ratio for that trade.

cheers

Quoting NightMoves
HI Custos,
It has been ranging for a while in a nice upward channel, as the the 4hr charts shows, when looking a the daily it is getting to ready to test the resistance level that has been in place since July of 2008, so keep an eye on that level.

And welcome to the thread. Glad to see we are all trading the same method here!

--NM
  • #284
  • Dec 3, 2009 7:58am Dec 3, 2009 7:58am
I thought I woud post the CHFJPY again and show what happened when that round number got touched after being so close to the ADR for the day, I would have been stopped out for sure. So exiting the trade I think at least on an intraday trade like this was a good idea.

--NM
Attached Image (click to enlarge)
Click to Enlarge Name: round number and adr.gif Size: 22 KB
  • #285
  • Dec 3, 2009 8:13am Dec 3, 2009 8:13am
Hi NM,

I see that you take into account the adr a lot.

Does this mean you only have intra-day trades or do you ever leave them open a few days even though the daily range is over?

cheers
  • #286
  • Dec 3, 2009 8:20am Dec 3, 2009 8:20am
Quoting Pipalicious
Hi NM,

I see that you take into account the adr a lot.

Does this mean you only have intra-day trades or do you ever leave them open a few days even though the daily range is over?

cheers
Hi Pip,
Once in a while I will leave them run a few days if everything is going good. But most of the time I just trade the day. That is one of the reasons I use the ADR so much, between the ADR and the round numbers and the trend itself of course, it is really killer on the intraday trends. The longest poisition I have ever held was about 6 weeks. But for the most part I just search for tradable trends and go from there.

--NM
  • #287
  • Edited 9:44am Dec 3, 2009 9:04am | Edited 9:44am
Quoting gctrading1
Hi
I understand how you use this method in trend trading. I use a very simillar way in my own trading, but it would be great if someone could explain how they use it in pattern breakouts. Like someone said before i do not post on forums most of the time and honestly do not fallow them because most people posting do are not profitable trading. I can honestly say having traded fulltime and part time for 5 years this way of trading has a very good foundation when it comes to how price action works in the forex market.

chris
Hi Chris,
The pattern breakouts are handled the same as they would be in any other trading style, only taking the breakout after BPC and in the direction of the main trend if in a down trend and it breaks to the upside then I would pass on it, if it breaks to the down side and the BPC is there then I take it, however if one was gutsy enough you could just trade the break out but I wait for the pulbback and then Continuation I feel it is safer after getting confirmation that it is for real and not just a fakeout.

--NM
  • #288
  • Dec 3, 2009 9:31am Dec 3, 2009 9:31am
Quoting Pipalicious
Hi NightMoves,

Just wondering without being intrusive what your average pips per month are since you´ve been using this method for a long time....

Just contrating with the way im applying things, since its similar but not that similar lol.

cheers.
Hi Pip,

I would have to pull that info up but I would say per week I am round 100 to 150 per week this week I am at the 150 mark . There may be times when I do not place a trade for over a week or so. If I was to spend more time doing this I am sure I could bring that number up. But I only do this part time my engineering job is what is paying the bills. But I like doing it and I do look at the charts on a daily basis but some days I am just not able to spend the time on it that I would like too. There are many times I have seen really good setups and was never able to get in the trade.

I do most of my designing right from my home now, so I am able now to spend a little more time on FX I have my trading computer on the same desk now as my work computer and so I can watch what is going on a little more.

--NM
  • #289
  • Dec 3, 2009 9:51am Dec 3, 2009 9:51am
NightMoves, where did you get that indicator (the one that shows the daily range)?
  • #290
  • Dec 3, 2009 9:51am Dec 3, 2009 9:51am
Quoting NightMoves
Hi Pip,

I would have to pull that info up but I would say per week I am round 100 to 150 per week this week I am at the 150 mark . There may be times when I do not place a trade for over a week or so. If I was to spend more time doing this I am sure I could bring that number up. But I only do this part time my engineering job is what is paying the bills. But I like doing it and I do look at the charts on a daily basis but some days I am just not able to spend the time on it that I would like too. There are many times I have seen really good...
Thanks for both your replys NM,

I was just being curious since ive been learning for just over 6 months now.

Also wondering when it comes to your stop sizes do you use a fixed size or do you dinamically set it behind the last candle.

Reason i ask is because the way im trading is very similar. I dont look for breakouts, just deep corrections to trend trade for several days. Longest so far about one week. But i do use fixed stop sizes based on the volatility of the currency traded. I think adding breakouts into my mix is something im definitely interested in. But for the moment im focused on one thing at a time.

I'm still very green and have a tremendous amount to learn but so far averaging between 3-5% a month. Mostly due to losses taken by trades that just weren't quite "ripe". So I definetely need work on patience and discipline
  • #291
  • Dec 3, 2009 10:01am Dec 3, 2009 10:01am
Hi NM,
I just saw your postings and just to let you know sometimes I am also uisng a simialr system with 100, 200 & 400 EMAs. when they all stack up I look for a overbought/sold position using MACD and STO in 3 min chart. Also, wait for the 15M chart to ste up in the direction I want. Then just go for 25 pips. Not exactly yours but very simialr I suppose. and this has also worked for me as a quick 25 pip wins many times.

From your experience, what can you say about using 100, 200 and 400 EMAs compared to 30, 50 and 100 MAs that you use? Suppose 100, 200 and 400 are displaying a stronger trend but do you think I'm wastign my time by waiting for a long time for these 3 to set up?
  • #292
  • Dec 3, 2009 10:06am Dec 3, 2009 10:06am
I have to say wehn I first started trading several years ago it was a learning experience bacuse I really knew nothing about the FX market, and read some articles and bought some books like everyone does when trying to learn something new. And pretty much everything was the same in the all the books; like use these indicators and when this crosses that and this is pointed up and when this line crosses back down over that line...etc so I tried that and it worked sometimes, but more often than not it didnt.

So I started searching the internet for about a month looking at courses and doing reviews on the courses I was looking at and there were good reviews and bad reviews, so I was beginning to think this was totally a hit miss type of trading.

Then I came across Hectors website and I took the first lesson as it was free, I was pretty impressed as it all made sense, so I did the reviews and really did not find a bad one, so I bought it and I have been using it ever since.

--NM
  • #293
  • Dec 3, 2009 10:17am Dec 3, 2009 10:17am
Quoting Pipalicious
Thanks for both your replys NM,

I was just being curious since ive been learning for just over 6 months now.

Also wondering when it comes to your stop sizes do you use a fixed size or do you dinamically set it behind the last candle.

Reason i ask is because the way im trading is very similar. I dont look for breakouts, just deep corrections to trend trade for several days. Longest so far about one week. But i do use fixed stop sizes based on the volatility of the currency traded. I think adding breakouts into my mix is something im definitely...

My stops are always placed right behind the event that got me in the trade to begin with, then if the RR ratio is at least 1.5:1 I will take the trade. Using break outs after a period of consolidation is really and easy trade to spot and one of the easiest to trade I am always looking for those types of trades and waiting for a breakout in the direction of the main trend. As long as your gaining on the market that is what counts.

One could place 100 trades and loose on 90 of them and still make money if the MM is handled correctly, because if you trade your going lose trades it is just part of trading, but keeping the losses under control is what is key not really how many trades your winning.

--NM
  • #294
  • Dec 3, 2009 10:36am Dec 3, 2009 10:36am
Quoting Anu_
Hi NM,
I just saw your postings and just to let you know sometimes I am also uisng a simialr system with 100, 200 & 400 EMAs. when they all stack up I look for a overbought/sold position using MACD and STO in 3 min chart. Also, wait for the 15M chart to ste up in the direction I want. Then just go for 25 pips. Not exactly yours but very simialr I suppose. and this has also worked for me as a quick 25 pip wins many times.

From your experience, what can you say about using 100, 200 and 400 EMAs compared to 30, 50 and 100 MAs that you use? Suppose...
Hi Anu,
Truthfully whatever is working for you then keep using it. I have never used those MA lines you are talking about, I do not use the MACD, Stochastics or any other indicators other than what you see my on my charts, I have tried those indicators with mixed results but some people can use them very effectively. As far as wasting your time, if you are making money and using those has worked for you then you are not wasting your time.

There are a lot of systems out there that work and pretty much a system for every trading style, and when you find one that works stick to it imo.

--NM
  • #295
  • Dec 3, 2009 10:44am Dec 3, 2009 10:44am
NM,

I'd like to add my thanks for starting this thread and sharing your hard earned knowledge with us. I'm a great fan of trading with the trend but to date I've been focused more on the short term with targets of around 30 pips and stochs for entries in line with the higher trend. Your method looks like something I'd like to adopt as I've never really had the guts to target the bigger moves.

A couple of questions if I may please:

1. Does it matter if the SMA lines on the entry chart are all messed up, as long as the higher tf are stacked and aligned correctly?

2. How far back do you look when finding nice trends? If the SMA lines have recently been messed up but have just become stacked and aligned correctly would you consider it? Would you wait for price to bounce twice off the newly aligned SMAs before considering it valid for instance?

3. I'm often seeing nice parallel 30 and 50 lines with the 100 diverging away and creating an increasingly large gap - is that still valid?

4. Am I correct in saying the confluence of S/R you describe should be located where the price first bounces. It isn't necessary to have more S/R in the region where the pullback bottoms out before continuing is it?


Thanks for your help....sorry for the interrogation!

Cheers,

Dave
  • #296
  • Dec 3, 2009 10:47am Dec 3, 2009 10:47am
Quoting ABoulfoul
NightMoves, where did you get that indicator (the one that shows the daily range)?
I got it from Hector, but you can use the ATR and set it for a 30 period and it seems to be pretty close, I also uploaded one that sits at the bottom of the charts that reads the same as the one I am using, if you use the previous 10 day display. I seen someone else out here is using the ATR and it read the same as my ADR does and it is placed in the same area of the chart as mine, one of the charts that were uploaded shows it sitting there.


--NM
  • #297
  • Dec 3, 2009 11:03am Dec 3, 2009 11:03am
Quoting Sutts
NM,

I'd like to add my thanks for starting this thread and sharing your hard earned knowledge with us. I'm a great fan of trading with the trend but to date I've been focused more on the short term with targets of around 30 pips and stochs for entries in line with the higher trend. Your method looks like something I'd like to adopt as I've never really had the guts to target the bigger moves.

A couple of questions if I may please:

1. Does it matter if the SMA lines on the entry chart are all messed up, as long as the higher tf are stacked...
Hi Dave and welcome to this evergrowing thread,

Ok to answer your questions best I can:

1: No it does not matter if the MA lines are all messed up on the trigger TF just look for the S/R levels to stack up in the area you are looking for a reversal.

2: when I think I have found a tradable trend then I look for all the MA lines to be in order and in pointing the same direction, I will look at the larger time frames for any longer S/R that might be coming up to make the smaller trend stop, On a very young trend defined by the MA lines, I will usually wait until it gets bouncing a little off the dynamic S/R area before I get in to it, If the price starts playing around with that 100 MA I us much morre caution beofre entering because it may be losing some energy, if it gets back to normal then it goes back to a tradeable trend.

3: Yes it is still valid as long as none of those lines are crossing, the farther away from the 100 it is better strength the trend has, HOWEVER, if it blasts far away from all of the MA lines, then I wait for it to come back and never chase after it.

4: The S/R is critcal to determine where it might reverse and start a new impulse wave after the retracement, so it is very important to look for as many elements of S/R in that area dynamic S/R, the more you have the better chance you have of having the reversal take place at that price level. 1 or 2 elements is usually not enough imo to take the trade I like to see a bunch of them take place there. And that happens over and over in any trending market.

Hope this helps!

--NM
  • #298
  • Dec 3, 2009 11:27am Dec 3, 2009 11:27am
Thanks for the quick reply NM, very helpful.

Just to clear up question 4, this is what I'm looking for:

1. Price in a good uptrend on 1H (for example)
2. Price retraces between 38% and 61% to an area bounded by the 30 and 50 SMA lines.
3. Price bounces in this area off some clearly defined S/R levels.
4. During this bounce, price breaks through the downward facing retracement TL. The top of this bounce will become my entry point.
5. Price then pulls back before continuing upwards and hopefully triggering my long entry. My stop loss is placed under this pull back low.

My question is, should I be looking for additional S/R under the pull back described in 5 IN ADDITION to the S/R that creates the initial bounce described in 3.

Thanks again!

Dave
  • #299
  • Dec 3, 2009 11:35am Dec 3, 2009 11:35am
Quoting Sutts
Thanks for the quick reply NM, very helpful.

Just to clear up question 4, this is what I'm looking for:

1. Price in a good uptrend on 1H (for example)
2. Price retraces between 38% and 61% to an area bounded by the 30 and 50 SMA lines.
3. Price bounces in this area off some clearly defined S/R levels.
4. During this bounce, price breaks through the downward facing retracement TL. The top of this bounce will become my entry point.
5. Price then pulls back before continuing upwards and hopefully triggering my long entry. My stop loss is placed...
Hi dave,
The answer is no, if the pullback pullsback farther than the retracement then the setup is invalid. And then you will need to wait for new confirmation to enter the trade, that is one big reason to wait for the pull back...because it may stop and then you would be in a situation that you would not want to be in. Baisically you are looking for a reversal pattern at the level on the smaller TF.

Hope that clears it up a little!

--NM
  • #300
  • Dec 3, 2009 11:39am Dec 3, 2009 11:39am
Quoting Sutts
Thanks for the quick reply NM, very helpful.

Just to clear up question 4, this is what I'm looking for:

1. Price in a good uptrend on 1H (for example)
2. Price retraces between 38% and 61% to an area bounded by the 30 and 50 SMA lines.
3. Price bounces in this area off some clearly defined S/R levels.
4. During this bounce, price breaks through the downward facing retracement TL. The top of this bounce will become my entry point.
5. Price then pulls back before continuing upwards and hopefully triggering my long entry. My stop loss is placed...
So basically no other S/R is needed your entry description is correct.
After reading what I wrote the first time I hard time understanding what I wrote...

--NM
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