Trend Trading All Pairs | Page 27 | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

Trading correlation pairs by using the other pairs 843 replies

28 Pairs Trading Panel (Multi-pairs) 0 replies

Export All pairs or selected pairs to .csv with script 3 replies

Daily Bar Analysis - All Pairs/All Welcome 15 replies

Trend Trading All Currency Pairs 3 replies

Attachments: Trend Trading All Pairs
Exit Attachments

Trend Trading All Pairs

  • #521
  • Dec 7, 2009 6:22pm Dec 7, 2009 6:22pm
ok here is one more i am just throwing some thoughts and charts out. Here is the NZD/USD. the anchor chart is on the left 1H and the entry 15 min on right. If you can not see the chart when clipping on it once the chart is up click on it one more time

chris
Attached Image (click to enlarge)
Click to Enlarge Name: nzdusd.png Size: 125 KB
Chris
  • #522
  • Dec 7, 2009 6:22pm Dec 7, 2009 6:22pm
Hi NM,

I have attached H1 (setup chart) and M15 chart for GBPJPY. On H1 everything was in place such as trend, fibo etc and then on M15 after seeing BPC, I believe there was a valid entry to take long and apparently it was stopped. Can you please comment on this setup if there was anything missing?

Thanks
Attached Image(s) (click to enlarge)
Click to Enlarge Name: gj-h1.jpg Size: 118 KB
Click to Enlarge Name: gj-m15.jpg Size: 92 KB
  • #523
  • Dec 7, 2009 6:41pm Dec 7, 2009 6:41pm
Quoting Scratch99
So.. If most JPY pairs break trendline to the downside would a trade be something like the following(1,2,3). The high candle that is now would be 1 the number 2 candle would be the next leg down then the number 3 would be the next leg up and a sell would be place just below number 2. And my stop loss would be at 3 Am I way out here?
What you are seeing now is just a common sideways or consoilidation movement in the market, the way I trade I would wait for the breakout in the diriection of trend and then wait for a pullback, and then the continuation and that would be your 1-2-3. The pullback may retest the break out line or it may not, depending on the time frame it is also nice to see about 2 or 3 bar pullback but again that is the way I trade. My SL would be placed at just above where the pullback stopped and my entry would be below where the pullback started (in a down trend) and just reverse everything for an uptrend.

--NM
  • #524
  • Dec 7, 2009 6:47pm Dec 7, 2009 6:47pm
Quoting Blackeagle
Hi NM,

I have attached H1 (setup chart) and M15 chart for GBPJPY. On H1 everything was in place such as trend, fibo etc and then on M15 after seeing BPC, I believe there was a valid entry to take long and apparently it was stopped. Can you please comment on this setup if there was anything missing?

Thanks
Hi Blackeagle,
The market right now is just consolidating, and really not making any new highs or lows so to speak. The GBPJPY is absolutely sideways, it will break that consolidation at some point in time but right now there really is no way to make anything on it until it does something.

Here is my 1 hour chart of the GBPJPY pair and my retracement trendline.

--NM
Attached Image (click to enlarge)
Click to Enlarge Name: sideways.gif Size: 29 KB
  • #525
  • Dec 7, 2009 6:49pm Dec 7, 2009 6:49pm
Quoting NightMoves
What you are seeing now is just a common sideways or consoilidation movement in the market,

--NM
When the setup took place on M15 there wasn't those sideway consolidation moves. I am not talking about "now". When 2 of 123 pattern was broken at 12.15 bar for FXDD platform, you don't see the current consolidation. So ignoring the bars after 12.15 where the entry happened, can you please comment if it was a valid signal, if not why?

Thanks again
  • #526
  • Dec 7, 2009 6:50pm Dec 7, 2009 6:50pm
Quoting NightMoves
What you are seeing now is just a common sideways or consoilidation movement in the market, the way I trade I would wait for the breakout in the diriection of trend and then wait for a pullback, and then the continuation and that would be your 1-2-3. The pullback may retest the break out line or it may not, depending on the time frame it is also nice to see about 2 or 3 bar pullback but again that is the way I trade. My SL would be placed at just above where the pullback stopped and my entry would be below where the pullback started (in a down trend)...
So the trend is based on your setup chart, lets say your 1 hr. chart and not the longer term charts even if the longer term trend are not the same as your setup chart?
  • #527
  • Dec 7, 2009 6:57pm Dec 7, 2009 6:57pm
Quoting Blackeagle
When the setup took place on M15 there wasn't those sideway consolidation moves. I am not talking about "now". When 2 of 123 pattern was broken at 12.15 bar for FXDD platform, you don't see the current consolidation. So ignoring the bars after 12.15 where the entry happened, can you please comment if it was a valid signal, if not why?

Thanks again
Blackeagke,
Your trend line is not based on the tops of the retracement bars and that would be the issue with your entry. Look at my chart and see how I drew that trend line. Now that it has consolidated though it would be handled just like any other consolidation area. That being a BPC in the direction of the trend.

--NM
  • #528
  • Dec 7, 2009 6:59pm Dec 7, 2009 6:59pm
Quoting Scratch99
So the trend is based on your setup chart, lets say your 1 hr. chart and not the longer term charts even if the longer term trend are not the same as your setup chart?
Yes your setup chart is the trend you are trading and that is where you draw your lines and such, there can be a small down trend in a much larger uptrend so trends within trends so to speak.

--NM
  • #529
  • Edited 7:44pm Dec 7, 2009 7:00pm | Edited 7:44pm
Appreciate your detailed response …I work as a commercial insurance analyst … I started learning about stock trading about 2 year ago, it was slow because i have to spend long hours at my work place and it is high high pressure work with people continuously hovering around one’s head …and continually changing demands and targets ….long story short …I see tremendous potential in trading to free myself …with better earning opportunity and can spend more time with family …

I started with my focus on stocks …however when I finally started to trade i.e. application phase the stock market was so choppy that I realized that I would have to trade intraday to make some bucks out of it and there is no way I could have done that at my workplace ….I wanted to watch price action and how it develops to gain first hand experience and when I can to know that Forex is 24 hours I figured that I would be able to watch some price action even in the evening after come back home …which attracted me a lot and I started learning Forex about 2 months ago …since I had a pretty good foundation in TA due to my earlier studies therefore I kind of knew what I was looking for with respect to catching a trade then I came across this method which made perfect sense to me as it came together pretty well with the stock based method I wanted to follow which was based on trend following with Moving Averages + Trendlines + MACD Histogram + Stoch & reading candle Pirce Action.

Now I am actually following the charts and the biggest challenge for me was how should I keep in touch with the charts and analysis from time to time at my office …earlier I was planning to my a smart phone or PDA but MT4 mobile had its own limitations later I figured that the best way to do that would be to buy a mini-laptop which will have a bigger screen size than a PDA and will give me full MT4 functionality. I tried going with a Forex VPS but couldn’t connect to it from my office so I dumped that idea…now I am buying a Fujitsu 8.9’’ screen laptop…which will give me great flexibility in monitoring and initiating my trades even at my office.

Having said the above I am glad we will be interacting together and can help each other in finding the setups etc. Which timeframe you tend to follow … since you have a full time and you are a real estate broker as well therefore I am interested in knowing your favorite time frame with which you can balance other things as well (what would be the minimum timeframe you tend to go with?)...do you use a mobile platform like PDA etc?

The key thing I was wonder about using this system was this: Say EUR/USD and we know that it has been moving side ways for about a month now and just recently broke down through the trend line therefore lets go back a week before when it was one day up and one day down (daily chart) ….so one a day when the price bar is ..say…up …then would you go in the lower timeframe to check as to which timeframe is meeting the setup requirements and take the trade I that timeframe? My observation was that even if the price is moving sideways on daily (keeping in mind the major trend) there one can still find a potential setup on lower time frame …

What’s you observation and comments in this regard? Also do you wait for a retest or would take breakout?

Thanks in advance

Quoting NightMoves
Hi Mktscape,

I dont range trade intentionally, if the range is big enough to develop a trend based on the rules of this system then I will look for entries in the direction of the trend, but I do not place entries based on a top or bottom of a range. What I do is look at those tops and bottoms as levels of S/R if it is trending to those levels and if it turns around at those levels then I wait for the trend to develop.

I actively trade 21 different pairs

No I am not a full time trader, however I spend a lot of time looking at charts and fine...
  • #530
  • Dec 7, 2009 7:06pm Dec 7, 2009 7:06pm
Quoting NightMoves
Yes your setup chart is the trend you are trading and that is where you draw your lines and such, there can be a small down trend in a much larger uptrend so trends within trends so to speak.

--NM
Thanks NM. So wouldit be possible to I trade this method using longer term charts and placing a trade then going to sleep or to work or would I just keep loosing money like I have been? Made I should quite my job and do this full time. After all with the job I have all I have to make is 100.00/day
  • #531
  • Dec 7, 2009 7:08pm Dec 7, 2009 7:08pm
Honestly i do not see anything setting up for tonight unless the yen starts to move up. NZD/usd is the only thing that i see that may still give up some pips.

chris
Chris
  • #532
  • Dec 7, 2009 7:11pm Dec 7, 2009 7:11pm
aud/usd is the same so you could trade that to get tighter spreads


chris
Chris
  • #533
  • Dec 7, 2009 7:14pm Dec 7, 2009 7:14pm
Quoting Scratch99
Thanks NM. So wouldit be possible to I trade this method using longer term charts and placing a trade then going to sleep or to work or would I just keep loosing money like I have been? Made I should quite my job and do this full time. After all with the job I have all I have to make is 100.00/day
Do not quite your job till you are making good profits. It only puts more stress on your trading the best way is to trade with money you can lose and when you do not have a job you need to be consistant. I have traded fulltime and made a living at it but i have gone back to work and trade also to take the stress off. If you are really dedicated get up for the London session if you live in the states. I try and trade the london session most days. I live on the east coast so it starts between 2am and 3am.

Chris
Chris
  • #534
  • Dec 7, 2009 7:20pm Dec 7, 2009 7:20pm
Quoting gctrading1
Honestly i do not see anything setting up for tonight unless the yen starts to move up. NZD/usd is the only thing that i see that may still give up some pips.

chris

Watching the usdjpy & gbpjpy H1 Longs fall away I think.

pipnut
Even a blind squirrel finds a nut sometime.
  • #535
  • Dec 7, 2009 7:22pm Dec 7, 2009 7:22pm
Quoting Scratch99
Thanks NM. So wouldit be possible to I trade this method using longer term charts and placing a trade then going to sleep or to work or would I just keep loosing money like I have been? Made I should quite my job and do this full time. After all with the job I have all I have to make is 100.00/day
LOL well that is entirely up to you, however I would definately trade any new method or system on a demo account for as long as it takes to start making money with it consistantly. I used a demo account for around 3 months or better after I learned this method, just to be sure, because the markets are extremely unforgiving, video games can be restarted and so can demo accounts, however live accounts are for keeps and there are no mulligans.

--NM
  • #536
  • Dec 7, 2009 7:23pm Dec 7, 2009 7:23pm
Quoting gctrading1
Do not quite your job till you are making good profits. It only puts more stress on your trading the best way is to trade with money you can lose and when you do not have a job you need to be consistant. I have traded fulltime and made a living at it but i have gone back to work and trade also to take the stress off. If you are really dedicated get up for the London session if you live in the states. I try and trade the london session most days. I live on the east coast so it starts between 2am and 3am.

Chris

How do you juggle trading the London session around a day job? I am east coast as well and couldn't pull that off. Unless you trade the latter half?

pipnut
Even a blind squirrel finds a nut sometime.
  • #537
  • Dec 7, 2009 7:28pm Dec 7, 2009 7:28pm
Quoting Scratch99
Thanks NM. So wouldit be possible to I trade this method using longer term charts and placing a trade then going to sleep or to work or would I just keep loosing money like I have been? Made I should quite my job and do this full time. After all with the job I have all I have to make is 100.00/day
I guess that is one of the reasons I am so particular about the setup, because once the money is gone its gone, and if you lose money on the demo...well the same thing will happen on the live account, if you make money on the demo with consistantly winning trades and good MM then the same thing will happen on the live account.

There is nothing worng with trading a demo account for as long as it takes to get good at trading but a live account is not the place to practice it for sure.

I still use a demo account for testing different entry strategies and such, to trade long term trades usually requires a lot of capital to let the market breath and these smaller term trends even up to a few days can be done using this method.

--NM
  • #538
  • Dec 7, 2009 7:28pm Dec 7, 2009 7:28pm
Quoting NightMoves
Blackeagke,
Your trend line is not based on the tops of the retracement bars and that would be the issue with your entry. Look at my chart and see how I drew that trend line. Now that it has consolidated though it would be handled just like any other consolidation area. That being a BPC in the direction of the trend.

--NM
Thanks for the reply. But when I look at your charts in this thread, you draw your Retracement lines from trigger charts, not setup charts. For example look at your post #39. If you are drawing that tiny retracement line on trigger chart to take the trade, I don't understand what is wrong with my replacement line drawn from retracement bars on M15. Can you please have a look your post# 39 and comment? Thanks again for your time.
  • #539
  • Dec 7, 2009 7:30pm Dec 7, 2009 7:30pm
When i traded fulltime i trade currency futures starting at 3am and then traded the ym at the open. It is hard sometimes so i have to take breaks. I do not trade it every day but i love to trade so i manage. I sometimes set alerts and have a baby monitor in my office so when the bell sounds i can get up to check the market.

chris
Chris
  • #540
  • Dec 7, 2009 7:30pm Dec 7, 2009 7:30pm
Quoting NightMoves
Yes your setup chart is the trend you are trading and that is where you draw your lines and such, there can be a small down trend in a much larger uptrend so trends within trends so to speak.

--NM
I got the answer to one of my questions i was have asked in my earlier post ... i now remember Mr hector saying the same thing. So it will the chart where the trend if meeting the setup requirements.
8 traders viewing now