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Trend Trading All Pairs

  • #641
  • Dec 8, 2009 1:35pm Dec 8, 2009 1:35pm
Hi guys,

Would this be the sort of opportunity you look for with this method?

I haven't taken it, but i think this would of been a very valid trade IMHO.

cheers.
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  • #642
  • Dec 8, 2009 1:40pm Dec 8, 2009 1:40pm
Quoting Pipalicious
Hi guys,

Would this be the sort of opportunity you look for with this method?

I haven't taken it, but i think this would of been a very valid trade IMHO.

cheers.
Good Afternoon Pipalicious!

I asked NM about the same setup back on post #613, his response is right after that.

pipnut
Even a blind squirrel finds a nut sometime.
  • #643
  • Dec 8, 2009 1:51pm Dec 8, 2009 1:51pm
Quoting pipnut
Good Afternoon Pipalicious!

I asked NM about the same setup back on post #613, his response is right after that.

pipnut
Sorry mate,

Must of missed it ooops

cheers anyways
  • #644
  • Dec 8, 2009 2:01pm Dec 8, 2009 2:01pm
Quoting Pipalicious
Sorry mate,

Must of missed it ooops

cheers anyways

No problem! Jumped out at me as well when I was scanning thru the pairs. Had I been up and at my charts for a while, I might have taken a half position trade on that one same as I did on the Aud/Usd. However I am fairly new to this system so still learning the ropes.

pipnut
Even a blind squirrel finds a nut sometime.
  • #645
  • Dec 8, 2009 2:25pm Dec 8, 2009 2:25pm
Quoting dsounds
Are the moving average lines that you use just the same 3 lines with just different settings? I have the red line at 50, the blue line at 30 and the green one at 100. Is that correct? The moderator doesnt post my questions right away....ugh!
Hi dsounds,
Yes that would be correct, color is not important as long as you know what they are.

--NM
  • #646
  • Dec 8, 2009 2:26pm Dec 8, 2009 2:26pm
Quoting Pipalicious
Hi guys,

Would this be the sort of opportunity you look for with this method?

I haven't taken it, but i think this would of been a very valid trade IMHO.

cheers.
Yep that is a perfect setup.

--NM
  • #647
  • Dec 8, 2009 3:40pm Dec 8, 2009 3:40pm
Quoting NightMoves
Hi dsounds,
Yes that would be correct, color is not important as long as you know what they are.

--NM
Ok great! Now, what do I do? lol! This method that you're using seems to work pretty well. I will try to focus on the EUR/USD pair until I get the methods and rules down.

I've read many of your post and it seems like you know what you're doing. Your guidance and insight is greatly appreciated.
  • #648
  • Dec 8, 2009 4:43pm Dec 8, 2009 4:43pm
Afternoon everyone!

pipnut
Even a blind squirrel finds a nut sometime.
  • #649
  • Dec 8, 2009 4:46pm Dec 8, 2009 4:46pm
Quoting pipnut
Afternoon everyone!

pipnut
Afternoon Pipnut
  • #650
  • Dec 8, 2009 4:51pm Dec 8, 2009 4:51pm
I must say things are not pulling back as quickly as I thought they might after a such a big move today across the board.

--NM
  • #651
  • Dec 8, 2009 4:56pm Dec 8, 2009 4:56pm
NM,

Wonder if you could put me straight on a few questions that have sprung to mind please?

You mentioned way back that you look for an R:R of 1:3 on your trades. Would that be an average of the 2 positions you typically place...so the first TP of the last swing hi/lo might be just 1:1 while the second TP brings the overall R:R up to 1:3?

When calculating TP 2, is the length of the last impulse move added/subtracted from the entry price or from the top/bottom of the pullback prior to entry? I guess it must be from the pullback since if we used our entry price then we'd be expecting the next impulse move to be the length of the last move PLUS the length of the pullback???

When you took that recent breakout short on the GBPJPY would this summarise your trade?

1. 30 min SMAs starting to point down but 100 still rising slightly and no harmonic bouncing yet - OK for breakout play?
2. All correlated pairs were moving down.
3. Price broke down out of consolidation band.
4. Price was near a RN so you waited until price broke below that.
5. You switched from 30 min setup chart to 15 min.
6. Price consolidated below the RN and failed to break back above.
7. You entered on the break down of this smaller consolidation band.
8. You placed your stop a few pips above the RN

Not sure where your TP1 and TP2 were. Can you help me there please?


Thanks for all your efforts with this thread. It's really helped me see the light.

Cheers,

Dave
  • #652
  • Dec 8, 2009 4:59pm Dec 8, 2009 4:59pm
Quoting dsounds
Ok great! Now, what do I do? lol! This method that you're using seems to work pretty well. I will try to focus on the EUR/USD pair until I get the methods and rules down.

I've read many of your post and it seems like you know what you're doing. Your guidance and insight is greatly appreciated.
Actually this method works very well once you get used to chart reading.

I just looked at the E/U pair and that pair is just hovering at the moment, i waiting for a pullback but I am not sure if we are going to get it or not, I hope we do, but if it goes sideways then as a normal breakout wait for the bpc and enter in the direction of the trend we are trading.

--NM
  • #653
  • Dec 8, 2009 5:00pm Dec 8, 2009 5:00pm
There's a few news releases tonite might move things along.

pipnut
Even a blind squirrel finds a nut sometime.
  • #654
  • Dec 8, 2009 5:21pm Dec 8, 2009 5:21pm
Anyone see any thing that looks good for tonight so far? I have taken a quick look, been bizzy giving kids bath and getting them dinner.

chris
Chris
  • #655
  • Dec 8, 2009 5:21pm Dec 8, 2009 5:21pm
Quoting Sutts
NM,

Wonder if you could put me straight on a few questions that have sprung to mind please?

You mentioned way back that you look for an R:R of 1:3 on your trades. Would that be an average of the 2 positions you typically place...so the first TP of the last swing hi/lo might be just 1:1 while the second TP brings the overall R:R up to 1:3?

When calculating TP 2, is the length of the last impulse move added/subtracted from the entry price or from the top/bottom of the pullback prior to entry? I guess it must be from the pullback since if we...
Hi Dave,

My R:R is based on a per trade, sometimes and some times I do not calculate it if my stop is placed at say 25 pips or less and my target is greater than 75 then I just pull the trigger, but on the smaller target trades if my stop has to be placed 25 pips to make 25 pips then I pass all together. So I try to keep it at 1:2 to 1:3.

And for the ither questions all are yes.

I could see that even without the 3 MA lines pointing the same way that the market was turning around, all the correlated pairs were reacting the same way, so I took the break out in the direction the market was headed. I use the MA lines to determine how well PA is bouncing, I could just draw a trend line like I do anyway, BUT sometimes yu have to keep redrawing them and using the MA lines after the trend has developed gives me a very good visual of how well the trend is behaving.

If the trend is nicely bouncing off the 30 for several cycles, and then it starts bouncing nicely off the 50, that tells me to pay closer attention because the nex retracement may be deeper yet, and then soon it is retracing back to the 100, and then soon the retracement becomes an impulse wave in the wrong direction.

So the MA lines really can give you an indication when the trend may be running out of gas so to speak. Make sense?

--NM
  • #656
  • Dec 8, 2009 5:24pm Dec 8, 2009 5:24pm
Quoting gctrading1
Anyone see any thing that looks good for tonight so far? I have taken a quick look, been bizzy giving kids bath and getting them dinner.

chris
I have been kind of waiting for a pullback but nothing seems to be pullback, I have heard of markets taking a rest but I think this one fell asleep....

--NM
  • #657
  • Dec 8, 2009 5:40pm Dec 8, 2009 5:40pm
if it does not do much i may call it a night and trade early tomorrow E/U is setting up nicely for some trading tomorrow.


chris
Chris
  • #658
  • Dec 8, 2009 5:43pm Dec 8, 2009 5:43pm
The Gbp/Jpy just fell out of the triangle it was in.
The Usd/Jpy is crawling sideways to the SMAs.

pipnut
Even a blind squirrel finds a nut sometime.
  • #659
  • Dec 8, 2009 5:53pm Dec 8, 2009 5:53pm
Thanks for the help NM. I think for now I'd best stick to pure trend trades and try to master one technique at a time. I understand target setting for those setups now but I'm not so sure about TPs for breakouts....just obvious resistance areas on higher TFs I guess.

I've been watching the hector vids and found them very useful. From what I can tell he's a nice genuine guy - not a common attribute of forex system vendors!

Cheers,

Dave
  • #660
  • Dec 8, 2009 6:06pm Dec 8, 2009 6:06pm
Quoting pipnut
The Gbp/Jpy just fell out of the triangle it was in.
The Usd/Jpy is crawling sideways to the SMAs.

pipnut
I agree pipnut both of those look good for breakout trades. Honestly breakouts are my best trades. No other market is as good for breakouts like forex. we may need to wait for 8pm est for these to get running


chris
Chris
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