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Trend Trading All Pairs

  • #1,161
  • Dec 11, 2009 10:26am Dec 11, 2009 10:26am
my spread is not that wide it is only 3 1/2 pips my chart shows 7pips i would not take a trade with that wide of a spread
Chris
  • #1,162
  • Dec 11, 2009 10:28am Dec 11, 2009 10:28am
Quoting gctrading1
my spread is not that wide it is only 3 1/2 pips my chart shows 7pips i would not take a trade with that wide of a spread
ya actually eurusd also have a set up on the 4hr chart

odd pairs have wide spread. abit not worth
  • #1,163
  • Dec 11, 2009 10:31am Dec 11, 2009 10:31am
i have really tight spreads that is just my charting i trade with an ecn broker so my spread changes like right now on the Eur/aud i have 2pip spread.
Chris
  • #1,164
  • Dec 11, 2009 10:52am Dec 11, 2009 10:52am
Quoting gctrading1
I did not take this but just saw it on the euraud broke the trend line on 1hr and had a pullback on 15min
Yes that I looked at that and there was just no clean entry point. SO when in doubt stay out. By the time the pbc was completed it was so close to the ADR it was pretty risky imo..

--NM
  • #1,165
  • Dec 11, 2009 10:56am Dec 11, 2009 10:56am
Yes i also just noticed that i did not write that i did not take this trade so this is rear view mirror trading. I was away from the pc at the time. Just keeping it honest here.
Chris
  • #1,166
  • Dec 11, 2009 10:57am Dec 11, 2009 10:57am
Quoting NightMoves
Yes that I looked at that and there was just no clean entry point. SO when in doubt stay out. By the time the pbc was completed it was so close to the ADR it was pretty risky imo..

--NM
yes the pull back was far into the trend line on news i think so it would have been hard to use the swing as a stop you would have had to just place stop above trend line and i do not trade news.
Chris
  • #1,167
  • Dec 11, 2009 11:04am Dec 11, 2009 11:04am
Quoting gctrading1
yes the pull back was far into the trend line on news i think so it would have been hard to use the swing as a stop you would have had to just place stop above trend line and i do not trade news.
Yes until the dust settles and things get back to normal then we will see where things sit a lot better...

--NM
  • #1,168
  • Dec 11, 2009 11:06am Dec 11, 2009 11:06am
Quoting NightMoves
Yes until the dust settles and things get back to normal then we will see where things sit a lot better...

--NM
Monday
Chris
  • #1,169
  • Dec 11, 2009 11:10am Dec 11, 2009 11:10am
Quoting gctrading1
Monday
I totally agree. Depending on how things look on Monday I may not take anymore trades this month. See what the PA looks like across the majors.

--NM
  • #1,170
  • Dec 12, 2009 1:15am Dec 12, 2009 1:15am
i always have problem seeing the entry points. either i enter too late. or too early. hmm.. after seeing hectors vids. can i ask how many kind of reversals do we look out in the various retracement.

we look out for these in the triggering chart.
there is the M or W and the HnS reversal. for this two reversal we enter at the neckline or after the RN. am i right? this usually happen when there is a retracement trend.
Attached Image (click to enlarge)
Click to Enlarge Name: untitled.JPG Size: 22 KB


when the retracement is more of a consolidation. then we look for breakouts and pullback to test the previous support. and continuation. which is the BPC.
1 is breakout 2 is pullback 3 is continuation in the pic.
Attached Image (click to enlarge)
Click to Enlarge Name: 2.JPG Size: 18 KB


can we say that the entry points are like that? are there any other kind of entries?

PS. imagine that all the above have the confluenced s/r and other s/r in place already.
  • #1,171
  • Dec 12, 2009 1:44am Dec 12, 2009 1:44am
Quoting ja5on
i always have problem seeing the entry points. either i enter too late. or too early. hmm.. after seeing hectors vids. can i ask how many kind of reversals do we look out in the various retracement.

we look out for these in the triggering chart.
there is the M or W and the HnS reversal. for this two reversal we enter at the neckline or after the RN. am i right? this usually happen when there is a retracement trend.
Attachment

when the retracement is more of a consolidation. then we look for breakouts and pullback to test the previous...
yes, those are pretty much all reversal patterns that hector trades. Good observation!

best regards
  • #1,172
  • Dec 12, 2009 3:32am Dec 12, 2009 3:32am
Maybe another thing which is important for determining your lot size. Look into the higher time-frames (M1, W1, D1), are they in a congestion area? Did they reach a S-R level? Or is there no S/R level in the vinicity?

Is the current trend in accordance with the higher timeframe trend? Is there a higher time frame trend at all?

In any case, if I see that on M1, W1 & D1 there is no S/R level near current price and that the lower time-frame trend is in accordance with the higher time-frame trend, then you can bet that I will choose a higher lot size than normally.

It is actually advisable to qualify each trading opportunity. Like, is there still enough ATR, do you enter in the right session, the two points discussed above, is price harmonically swinging, no news...
Each time I see that one category here is not fulfilled I will substract 0.5 to 1% (depending on the importance of the category), of my max position size. the max position size is for me normally between 3 to 5% of account size.
With this approach you make sure that you are only entering with big stakes in the best opportunities possible, and in the meantime trade maybe less optimal opportunities with much lower position sizes.

best regards
  • #1,173
  • Dec 12, 2009 4:25am Dec 12, 2009 4:25am
Interesting post Custos, thanks. I've seen others refer to varying position size based on numerous factors and I'd really like to give it a try. My problem is that currently MM dictates that I can't trade more than 3 contracts concurrently which means the minimum I can reduce my position size by is 33%. To reduce position size by 1% you must be trading massive size (100 contracts plus) or adjusting risk by reducing stop sizes perhaps? Am I misunderstanding something here?

Thanks,

Dave
  • #1,174
  • Dec 12, 2009 4:27am Dec 12, 2009 4:27am
Ja5on,

Great summary piccies, thanks!! I really love using PA. Can't believe I've ignored it all these years.

Dave
  • #1,175
  • Dec 12, 2009 4:32am Dec 12, 2009 4:32am
Quoting Sutts
Interesting post Custos, thanks. I've seen others refer to varying position size based on numerous factors and I'd really like to give it a try. My problem is that currently MM dictates that I can't trade more than 3 contracts concurrently which means the minimum I can reduce my position size by is 33%. To reduce position size by 1% you must be trading massive size (100 contracts plus) or adjusting risk by reducing stop sizes perhaps? Am I misunderstanding something here?

Thanks,

Dave
well, you can trade mini lots and micro lots. a lot of brokers offer that. Then you can adjust your lot sizes. But I would never reduce my stop sizes. You should always adjust your lot sizes according to your stops, not the other way around.

best regards
  • #1,176
  • Dec 12, 2009 4:45am Dec 12, 2009 4:45am
I'm on mini lots already Custos. I would have the option of moving to micro which would let me reduce size in chunks of 3% but I've heard bad things about micro and don't really want to go there. Nice idea though. Maybe one day!
  • #1,177
  • Dec 12, 2009 4:58am Dec 12, 2009 4:58am
Quoting Custos
Maybe another thing which is important for determining your lot size. Look into the higher time-frames (M1, W1, D1), are they in a congestion area? Did they reach a S-R level? Or is there no S/R level in the vinicity?

Is the current trend in accordance with the higher timeframe trend? Is there a higher time frame trend at all?

In any case, if I see that on M1, W1 & D1 there is no S/R level near current price and that the lower time-frame trend is in accordance with the higher time-frame trend, then you can bet that I will choose a higher lot...
but actually i am always playing with 1 contract. i dont have to capital to play that much contracts. haha. so i am just seeing where to put the entry and sl only. still raw.
  • #1,178
  • Dec 12, 2009 7:02am Dec 12, 2009 7:02am
Quoting ja5on
i always have problem seeing the entry points. either i enter too late. or too early. hmm.. after seeing hectors vids. can i ask how many kind of reversals do we look out in the various retracement.

we look out for these in the triggering chart.
there is the M or W and the HnS reversal. for this two reversal we enter at the neckline or after the RN. am i right? this usually happen when there is a retracement trend.
Attachment

when the retracement is more of a consolidation. then we look for breakouts and pullback to test the previous...
ja5on,

You have the formations correct, if in a downtrend and the PA retraces above a RN a few pips, say it does not quite bounce at the RN but over shot it by a few pips then I will wait to make sure I am not going to get abounce off the a RN and will wait for it to push back down through the RN befoire placing an entry.

The reversal patterns can happen in anywhere in the chart and anywhere in the trend, however they really do not have a lot of significance unless they happen around that area where your confluence of S/R elements are located.

That is the reason your trigger chart is a smaller TF than your setup chart...so you can see the PA a little better when trying to locate and entry and to place your SL.

Trying to find an an exact entry can be difficult and sometimes you will take a little heat once in a while, but if all the S/R levels come together at that location it is a high probability trade.

--NM
  • #1,179
  • Dec 12, 2009 7:10am Dec 12, 2009 7:10am
Quoting Sutts
I'm on mini lots already Custos. I would have the option of moving to micro which would let me reduce size in chunks of 3% but I've heard bad things about micro and don't really want to go there. Nice idea though. Maybe one day!
oh, I didn't know that micro lots are so bad. If you worry about bad execution with micro lots, then you shouldn't worry. This method doesn't shoot for 10 pips, depending on the timeframe it shoots from 30 to 1000 pips (in rare cases).
  • #1,180
  • Dec 12, 2009 8:19am Dec 12, 2009 8:19am
Quoting Sutts
Ja5on,

Great summary piccies, thanks!! I really love using PA. Can't believe I've ignored it all these years.

Dave
Hi Dave,
Trading trends and using PA to do it is by far the best way to trade this market, you might not place a trade everyday of the week because your now waiting for the setup, but the ones you do place have a much higher probability of being winners and scoring you profits.

And trading is all about reducing risk when the market is on your side you have already taken away one huge negative factor out of the equation.

--NM
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