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Trend Trading All Pairs

  • #401
  • Dec 6, 2009 9:03am Dec 6, 2009 9:03am
For 3SMA Dashboard users only!

This is in reply to posts #261, 264.

The problem is caused by your broker not having a pair(s) that is listed on the dashboard. This interrupts the cycling process of the data calculations hence causing the the display for CDR/ADR to not update.

I presume that Musahi and NM do not have NZDCAD on their MT4 platform.

Regards,
JS
  • #402
  • Edited 9:07am Dec 6, 2009 9:05am | Edited 9:07am
Quoting euro_dude
Hi NightMoves:

Thank you for starting this 3SMA thread from Hector. Let me introduce myself - I learnt this system several years ago but at the time was still mesmerized by indicators and didn't understand S&R/Price Action quite well.

Hence, I abandoned the system after several months when I couldn't find any trending trades on higher time frames (I was too impatient). It also didn't help that Hector stopped updating his website. His daily videos were a source of inspiration and motivation.

Anyway, I have now ditched indicators and have made...
I Euro_Dude,
Welcome to the thread, I really did not start it as a Hector thread but I do use the method. I actually started it as a trend trading thread after someone had asked how I my method worked. Really there is so much in his course I could not possibly cover it and it is best to let him do that.

But yes I know what you are saying just his daily posts were enough to turn anyone into a good trader but as you said he does not do that anymore.

But with that being said welcome again and do post your charts and setups we look forward to seeing them.

--NM
  • #403
  • Dec 6, 2009 9:09am Dec 6, 2009 9:09am
Quoting euro_dude
For 3SMA Dashboard users only!

This is in reply to posts #261, 264.

The problem is caused by your broker not having a pair(s) that is listed on the dashboard. This interrupts the cycling process of the data calculations hence causing the the display for CDR/ADR to not update.

I presume that Musahi and NM do not have NZDCAD on their MT4 platform.

Regards,
JS
That makes sense, the only thing that is not working is the ADR on the dash board, the CDR works fine.

--NM
  • #404
  • Dec 6, 2009 9:34am Dec 6, 2009 9:34am
Hi NM, How does this look to you? Are the basics in the right place? This is a 15m chart.
Attached Image (click to enlarge)
Click to Enlarge Name: trade1.jpg Size: 153 KB
  • #405
  • Dec 6, 2009 9:50am Dec 6, 2009 9:50am
Hi Brixton,

you should have entered once price broke above the area you circled ("price breaks out of retracement").

best regards

Quoting Brixton
Hi NM, How does this look to you? Are the basics in the right place? This is a 15m chart.
  • #406
  • Dec 6, 2009 9:58am Dec 6, 2009 9:58am
Hi NightMoves,

As far as the ADR is concerned, do you place your target according to the setup chart's ADR, or is it always the daily ADR?

best regards
  • #407
  • Dec 6, 2009 10:02am Dec 6, 2009 10:02am
Quoting Custos
Hi Brixton,

you should have entered once price broke above the area you circled ("price breaks out of retracement").

best regards

Hi,

I see wht you mean, is that because price actually pulls back in that area.?
  • #408
  • Dec 6, 2009 10:03am Dec 6, 2009 10:03am
Quoting Custos
Hi NightMoves,

As far as the ADR is concerned, do you place your target according to the setup chart's ADR, or is it always the daily ADR?

best regards
ah, sorry, haha, I confused adr with ATR, since you talk about adr, it's probably always applied on the daily
  • #409
  • Dec 6, 2009 10:08am Dec 6, 2009 10:08am
Quoting Brixton
Hi NM, How does this look to you? Are the basics in the right place? This is a 15m chart.
That looks like a good spot to enter, but if you look at the hourly chart it has already broken the 100 MA line once, and the next impulse wave failed to make the high where you are looking for an entry, I would personally wait on this pair and when looking at the 4 hour chart I would wait for the another retracement on this pair. It might be a valid setup but I am very conservative and I need more proof that this is indeed a good trend to trade. And on the hourly chart you are getting very close to a resistance level as well. I do not have that pair on MT4 but I looked at on marketscope to get that information as I have that pair on my trading platform.

--NM
  • #410
  • Dec 6, 2009 10:11am Dec 6, 2009 10:11am
Hi Brixton,

yes, that's correct.
in general, you want to see a breakout of the retracement trendline, then a pullback back to retracement trendline (to test it as support), and then a break above the high of the breakout bar (which is then your entry price). Stop should be below pullback.

Also you still want to have enough room to the first target (previous swing high on the setup chart). If your stop is larger than the pips you can gain until you reach your first target, I would give it a miss. That's just my personal opinion though.

Hope that helps.

Quoting Brixton
Hi,

I see wht you mean, is that because price actually pulls back in that area.?
  • #411
  • Dec 6, 2009 10:12am Dec 6, 2009 10:12am
Quoting Custos
Hi NightMoves,

As far as the ADR is concerned, do you place your target according to the setup chart's ADR, or is it always the daily ADR?

best regards
It is always the ADR which is the daily average range, however if I was looking longer term which on occasion I do, the I would use the length of the previous impulse wave for my next target which might take a day or 2 to get. But I have not traded that way really since the new NFA rules went into effect because of the trailing stop issue and me not being able to manage the trade like it should be.

--NM
  • #412
  • Dec 6, 2009 10:17am Dec 6, 2009 10:17am
Quoting Custos
Hi Brixton,

yes, that's correct.
in general, you want to see a breakout of the retracement trendline, then a pullback back to retracement trendline (to test it as support), and then a break above the high of the breakout bar (which is then your entry price). Stop should be below pullback.

Also you still want to have enough room to the first target (previous swing high on the setup chart). If your stop is larger than the pips you can gain until you reach your first target, I would give it a miss. That's just my personal opinion though.

Hope...
Yes Custos that is exactly correct, always make sure you have enough room for the trade, and there is no reason to take a larger drawdown than is needed to accomplish a good trade.

--NM
  • #413
  • Dec 6, 2009 10:52am Dec 6, 2009 10:52am
I am looking at the CHFJPY as I have been for a while and it very close to some pretty persistant resistance this is the daily chart, so it will be interesting to see of it gets through it.

--NM
Attached Image (click to enlarge)
Click to Enlarge Name: daily resistance.gif Size: 29 KB
  • #414
  • Dec 6, 2009 11:46am Dec 6, 2009 11:46am
Quoting NightMoves
I am looking at the CHFJPY as I have been for a while and it very close to some pretty persistant resistance this is the daily chart, so it will be interesting to see of it gets through it.

--NM
I agree, most jpy crosses are now sitting at the resistance levels. I think it's gonna push through or bounce off those levels in the next few days.
  • #415
  • Dec 6, 2009 12:09pm Dec 6, 2009 12:09pm
NM, What are your views on re-trading the same market.

e.g.. You trade EUR-JPY on wednesday, targets are hit on Thursday and you close down and take profit. Then the following Monday you check your charts and see the market is still in a trend and a setup is forming.

Do you jump back in and trade again? Or would you say that you have taken your profit already from this trend and leave it?
  • #416
  • Edited 6:16pm Dec 6, 2009 12:15pm | Edited 6:16pm
Quoting Brixton
NM, What are your views on re-trading the same market.

e.g.. You trade EUR-JPY on wednesday, targets are hit on Thursday and you close down and take profit. Then the following Monday you check your charts and see the market is still in a trend and a setup is forming.

Do you jump back in and trade again? Or would you say that you have taken your profit already from this trend and leave it?
I will take as many pips as I can get from it, I have done that many times. If the setup is there, and there is no longer term S/R levels in the way no reason why you cant jump back on the train.

--NM
  • #417
  • Dec 6, 2009 12:43pm Dec 6, 2009 12:43pm
Quoting Brixton
NM, What are your views on re-trading the same market.

e.g.. You trade EUR-JPY on wednesday, targets are hit on Thursday and you close down and take profit. Then the following Monday you check your charts and see the market is still in a trend and a setup is forming.

Do you jump back in and trade again? Or would you say that you have taken your profit already from this trend and leave it?
Brixton,
My examples are nothing more than how I trade based on the amount of time I have to do it, however many of these trends can run for several days or months at a time, and even some of the trends that we all have posted here could have been left open for several days with no problem it all depends on the person trading, I usually close mine after the ADR is hit for the day and look for another entry later but it is not really necessary to do that in many cases. If the trend is still nice and healthy and you have pips in profit really it is up to you if want to let it run or close it out.

Always look at the calendar though to make sure the news is not going to spike you out somewhere along the line.

--NM
  • #418
  • Dec 6, 2009 6:47pm Dec 6, 2009 6:47pm
Good Evening NM!

I wanted to thank you for starting this thread. I was following your posts regarding your method previously but this thread elaborates a great deal more info.

pipnut
Even a blind squirrel finds a nut sometime.
  • #419
  • Edited 7:08pm Dec 6, 2009 7:03pm | Edited 7:08pm
Quoting pipnut
Good Evening NM!

I wanted to thank you for starting this thread. I was following your posts regarding your method previously but this thread elaborates a great deal more info.

pipnut
Hi Pipnut
Welcome to the thread, feel free to post charts setups and trends if you find a few that we have not found yet, everyone on this thread uses some kind of trend trading method and hopefully we all make a few pips as we share information.

--NM
  • #420
  • Edited 7:42pm Dec 6, 2009 7:07pm | Edited 7:42pm
Thank You!

Have you made your analysis on the pairs for this evening? I was curious if you were going to upload your chart screen with all the pairs you are watching like last week? I am trying out your trading system and want to see if I have my charts drawn correctly.

pipnut
Even a blind squirrel finds a nut sometime.
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