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Trend Trading All Pairs

  • #1,401
  • Dec 18, 2009 4:47pm Dec 18, 2009 4:47pm
Quoting jado911
I see, I'll keep eye for those MA's. 30,50, and 100
once you have those MA lines in order and parallel to each other then all you need is the harmonic swings and now your ready to look for an entry. These kind of trends not only happen long term but they happen on the smaller TF frames too, so not only can you trade the long term trends with this method but any other smaller trends that develop on the long term trend. So you can get it going both ways.

--NM
  • #1,402
  • Dec 18, 2009 9:23pm Dec 18, 2009 9:23pm
Quoting ja5on
any one took the eu trade?
my eu trade open at 1.4363 closed at 1.431. ard 53 pips profit. not bad =D
  • #1,403
  • Dec 18, 2009 9:30pm Dec 18, 2009 9:30pm
Quoting ja5on
my eu trade open at 1.4363 closed at 1.431. ard 53 pips profit. not bad =D
Good Job!!

--NM
  • #1,404
  • Dec 18, 2009 9:56pm Dec 18, 2009 9:56pm
Here is the AUDUSD it now testing the 100 MA, one to watch, the trends slowly climb to the top and quickly fall to the bottom, this could be one of those scenarios..

--NM
Attached Image (click to enlarge)
Click to Enlarge Name: audusd daily break.gif Size: 20 KB
  • #1,405
  • Dec 18, 2009 10:21pm Dec 18, 2009 10:21pm
Quoting NightMoves
Here is the AUDUSD it now testing the 100 MA, one to watch, the trends slowly climb to the top and quickly fall to the bottom, this could be one of those scenarios..

--NM
the momentum is losing. US dollar is strengthening day by day. the trends are going to change soon for long term for USD pairs. thats just my thought
  • #1,406
  • Dec 19, 2009 1:40am Dec 19, 2009 1:40am
TRading is to difficult There are a lot OF chances to loose ur money. is there any way to perfect trading
  • #1,407
  • Dec 19, 2009 4:07am Dec 19, 2009 4:07am
Quoting ja5on
the momentum is losing. US dollar is strengthening day by day. the trends are going to change soon for long term for USD pairs. thats just my thought
Many usd pairs broke out of their ranges. I think the trends in many usd pairs are already changed at least for the upcoming weeks.
  • #1,408
  • Dec 19, 2009 7:50am Dec 19, 2009 7:50am
Quoting ja5on
the momentum is losing. US dollar is strengthening day by day. the trends are going to change soon for long term for USD pairs. thats just my thought
I agree, I wanted to share that chart because it could be the beginning of a longer term down trend and it may be just at the beginning stages and this may a good opportunith for those who like to hold positions for the longer terms to get in on the ground floor and ride this out.

--NM
  • #1,409
  • Dec 19, 2009 8:01am Dec 19, 2009 8:01am
Quoting abaid101
TRading is to difficult There are a lot OF chances to loose ur money. is there any way to perfect trading
Practice makes perfect.

Get your hands dirty and learn to implement solid methods such as this thread.

good luck.

pip
  • #1,410
  • Dec 19, 2009 8:22am Dec 19, 2009 8:22am
Quoting abaid101
TRading is to difficult There are a lot OF chances to loose ur money. is there any way to perfect trading
abaid,
You are correct there are many chances of losing money, however with good MM and a good trading plan there is also the possibility of earning a lot of money.

Trading is not easy for anyone and is risky on all levels and there is no perfect system in any trading enviroment, however markets whether they be stocks, futures, or forex or any other market do behave in a somewhat predictable manner and that is where a good trading plan comes into play, by following the rules and taking only low risk high probabilty trades.

Trading a trending market is probably one of safest ways of trading and even that has plenty of risk, but keeping your losses short and letting your profits run is the way all good traders plan there trades. The more you practice it the better you will get at it, that is why they have demo accounts so you can practice without losing any real money and fine tune those skills.

Anyone can be taught how to trade, and every trader that is trading was taught how to do it, some will make it and some will not because of various reasons, usually it because they lack proper discipline and they do not have a proper trade plan.

To make money in trading any market a good Trade plan along with a good trading method, discipline and learning how the markets behave are key to being succusseful, like I have said before everyone that trades had to learn how to do it, no one is born with the ability, but anyone can learn how to do it and make money from it. It does take a lot of homework, but you do not have to have a phd to learn it anyone can master it if they have the will and desire to do it.

--NM
  • #1,411
  • Dec 19, 2009 8:51am Dec 19, 2009 8:51am
Quoting abaid101
TRading is to difficult There are a lot OF chances to loose ur money. is there any way to perfect trading
there is no chances of not losing any trades imo. even the greatest traders loses their trade. it is up in their mind to accept these losses and move on.

thats where money management and risk reward ratio comes into play. u do not want to risk ur whole account on just one trade isnt it. if that's so, its like gambling already. u only have that one chance. either u win it big. or u lose and will not have any more money to continue again.

the reason for money management is to allow u to lose and yet have enough money to continue with other trades.

Many new traders do not know how to accept these losses. once they try a system and it is quite successful until they encounter 3 losses in a row. they start to look around for another "perfect" system again. thinking that there is sure a better system out there.
  • #1,412
  • Dec 19, 2009 9:07am Dec 19, 2009 9:07am
Quoting ja5on
there is no chances of not losing any trades imo. even the greatest traders loses their trade. it is up in their mind to accept these losses and move on.

thats where money management and risk reward ratio comes into play. u do not want to risk ur whole account on just one trade isnt it. if that's so, its like gambling already. u only have that one chance. either u win it big. or u lose and will not have any more money to continue again.

the reason for money management is to allow u to lose and yet have enough money to continue with other trades....
Yep as the old saying goes."Plan the trade and trade the plan".

--NM
  • #1,413
  • Dec 19, 2009 9:17am Dec 19, 2009 9:17am
It also helps to keep a log of your trades so you know what type of trades are working for you, what TF you traded, why you entered, the time of day or what trading session you were in, what currency you traded...etc, I have one in excel format that I use, along with a check list of things that I need to see happen in the market before I enter a trade, then I can look the list over and see if all this criteria I have listed has been met before I pull the trigger.

Then I log the trade and add any notes to the log that helps me later on down the road to go back and correlate all the data from the log and determine which is the best TF, sessions, currencies...etc to trade.

--NM
  • #1,414
  • Dec 19, 2009 9:24am Dec 19, 2009 9:24am
nice.. i do keep a log for my trades, what time of the day the trade was on and on what method did i used. in demos. there are alot of things to try in demos. haha.

whats ur checklist? the various S/R?
  • #1,415
  • Dec 19, 2009 9:35am Dec 19, 2009 9:35am
Quoting ja5on
nice.. i do keep a log for my trades, what time of the day the trade was on and on what method did i used. in demos. there are alot of things to try in demos. haha.

whats ur checklist? the various S/R?
I have several things on that check list as per the system rules, are the MA lines correct, what price level are the S/R, are their any long term S/R that might get in the way, harmonic swings of the PA, is there enough ADR room left in the direction I am trading, SL, Targets...etc.

Well thats what demos are for to experiment, I use the demo trades now to try and fine tune my trading skills all the time. I trade the same system on the demos as I do the live account but I can be a little more fexible on the demo account.

--NM
  • #1,416
  • Dec 19, 2009 11:00am Dec 19, 2009 11:00am
HI Guys,,
I thought I would post a better picture of the 1-2-3 formation, the trend line pointing down is the downtrend on the hourly chart, and the trendline pointing up is the retracement trend line. The pair bounced right at the conluence of S/R and and at the time I captured the picture my SL had already been placed below my entry point. This an earlier trade of the G/Y pair.

--NM
Attached Image (click to enlarge)
Click to Enlarge Name: trade 123.gif Size: 29 KB
  • #1,417
  • Dec 19, 2009 11:03am Dec 19, 2009 11:03am
My entry was a short position at 5394 ... used a 71 pip pyramid plan which captured 3 lots ... was exited using a 71 pip trailing stop ...
Hindsight tells me to not use a trailing stop ... However that last 10 trades has stopped me out using the 2N rule ...
The market seems to be in a sideways motion until just a couple of day ago I noticed Eur/Chf made a big move to the downside ...
  • #1,418
  • Dec 19, 2009 11:11am Dec 19, 2009 11:11am
Quoting moonchild35
My entry was a short position at 5394 ... used a 71 pip pyramid plan which captured 3 lots ... was exited using a 71 pip trailing stop ...
Hindsight tells me to not use a trailing stop ... However that last 10 trades has stopped me out using the 2N rule ...
The market seems to be in a sideways motion until just a couple of day ago I noticed Eur/Chf made a big move to the downside ...
Hi Moonchild35,
I am not sure what the 2N rule is...I do not think I have heard that before.

--NM
  • #1,419
  • Dec 19, 2009 11:14am Dec 19, 2009 11:14am
Quoting NightMoves
HI Guys,,
I thought I would post a better picture of the 1-2-3 formation, the trend line pointing down is the downtrend on the hourly chart, and the trendline pointing up is the retracement trend line. The pair bounced right at the conluence of S/R and and at the time I captured the picture my SL had already been placed below my entry point. This an earlier trade of the G/Y pair.

--NM
i see the entry as M. once it breaks the M then i start selling. is that another way to see that entry? i am seeing it that way.

for ur #123 #2 is breakout #3 is pullback. what is #1?
  • #1,420
  • Dec 19, 2009 11:30am Dec 19, 2009 11:30am
Quoting ja5on
i see the entry as M. once it breaks the M then i start selling. is that another way to see that entry? i am seeing it that way.

for ur #123 #2 is breakout #3 is pullback. what is #1?
#1 is the intitial surge of the retracement right at the RN which was one of the elements of Resistance, along with the Fibo, and a previous swing low, and then it bounced off that level kind of broke the main down trend line buy a few pips and then #2 intially broke back into the trend, and then #3 was the pullback, notice how the pullback did not take out #1? If it had taken out number #1 then the setup would have been invalid.

The after the continuation broke down through that RN is when I placed my entry. SL should be placed just a few pips beyond #3, in this case I placed it just above the RN above #3 as those act as S/R levels to.

Then once moved enough pips I moved my SL to where you see it. Yes it basically formed a lopsided "M" and that is really what is. In an uptrend it would be a "W" so nothing more than the normal reversal patterns, except you look for them on a smaller TF other than your setup is on so you can see the price action a little better.

--NM

--NM
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