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Trend Trading All Pairs

  • #1,601
  • Jan 6, 2010 5:13am Jan 6, 2010 5:13am
Quoting Custos
well, in the early london session, I saw an opportunity on gbp/aud hourly chart. Attached is gbp/aud M15 trigger chart. However, I am already involved in gbp/cad since yesterday, and I don't wanna double expose myself, so I didn't trade that one.

For US session, I think nzd/usd hourly, looks good for a break to the upside.
eur/cad H4 looks good to go to the downside, but might not trigger today.
Cad/jpy H4 retraced back to trendline, from the moment the US session starts, I will look to get into that one.
And finally usd/jpy is setting up on...
Hey Custos

I noticed you trade certain pairs during certain trading sessions.
What's the rule for choosing which session is best to trade a pair?
ie. a/j, when, why? g/a, when, and why ?

Are there rules for that, or is it, when the trend is ready it's time to trade no matter what?
Is it worth watching tokyo, or just london, US sessions?

thanx
shomari
  • #1,602
  • Jan 6, 2010 5:25am Jan 6, 2010 5:25am
hey NM

If you have any insights on the above question I'd be greatful for your input.
Great thread NM,

thanx
shomari
  • #1,603
  • Jan 6, 2010 5:37am Jan 6, 2010 5:37am
Quoting shomari
Hey Custos

I noticed you trade certain pairs during certain trading sessions.
What's the rule for choosing which session is best to trade a pair?
ie. a/j, when, why? g/a, when, and why ?

Are there rules for that, or is it, when the trend is ready it's time to trade no matter what?
Is it worth watching tokyo, or just london, US sessions?

thanx
shomari
I trade pairs with jpy, nzd and aud inside in the tokyo session, the pairs with gbp, eur, chf in london and cad & usd during NY session.
The thought behind that is that most traders in europe mostly focus on european currencies and not so much on the others. the same goes for traders in US and Canada, they will focus more on usd and cad, and so on.
Problem is, if you trade a currency pair like aud/jpy in the london session, it will have quite low liquidity and maybe not respect the S/R levels so much. Also it's hard to find good momentum, if nobody trades that pair.

That's at least my opinion, and it helped not to get into unprofitable trades.

best regards
  • #1,604
  • Jan 6, 2010 5:38am Jan 6, 2010 5:38am
Quoting Custos
I trade pairs with jpy, nzd and aud inside in the tokyo session, the pairs with gbp, eur, chf in london and cad & usd during NY session.
The thought behind that is that most traders in europe mostly focus on european currencies and not so much on the others. the same goes for traders in US and Canada, they will focus more on usd and cad, and so on.
Problem is, if you trade a currency pair like aud/jpy in the london session, it will have quite low liquidity and maybe not respect the S/R levels so much. Also it's hard to find good momentum, if nobody...
but this rule I only have for trading on the hourly chart. If I trade higher time-frames, then it doesn't matter during which session I trade, since the trade is anyways open for quite a long time.
  • #1,605
  • Jan 6, 2010 6:05am Jan 6, 2010 6:05am
Quoting Custos
well, in the early london session, I saw an opportunity on gbp/aud hourly chart. Attached is gbp/aud M15 trigger chart. However, I am already involved in gbp/cad since yesterday, and I don't wanna double expose myself, so I didn't trade that one.

For US session, I think nzd/usd hourly, looks good for a break to the upside.
eur/cad H4 looks good to go to the downside, but might not trigger today.
Cad/jpy H4 retraced back to trendline, from the moment the US session starts, I will look to get into that one.
And finally usd/jpy is setting up on...

hello custo.
i saw the chart u attached on gbp/aud. the hour chart had been ranging for a like a whole day then it broke out. did u the break out as a trigger? what other things did u see as a trigger in that? because i did not see the price nearing the confluence of S/R. =D
  • #1,606
  • Jan 6, 2010 6:14am Jan 6, 2010 6:14am
Quoting ja5on
hello custo.
i saw the chart u attached on gbp/aud. the hour chart had been ranging for a like a whole day then it broke out. did u the break out as a trigger? what other things did u see as a trigger in that? because i did not see the price nearing the confluence of S/R. =D
There are two types of trades I take. Swing trades, which have to retrace back to an S/R level. And chart pattern trades, which include ranges and triangles. Those don't necessarily have to retrace back to an S/R level.
But I generally always require a bpc upon breakout.

Attached is another range I would trade to the downside on gbp/aud hourly, once it breaks out to the downside with a bpc

Hope that makes sense
Attached Image (click to enlarge)
Click to Enlarge Name: gbpaud h1 6.1.2010.gif Size: 57 KB
  • #1,607
  • Jan 6, 2010 6:18am Jan 6, 2010 6:18am
Quoting Custos
There are two types of trades I take. Swing trades, which have to retrace back to an S/R level. And chart pattern trades, which include ranges and triangles. Those don't necessarily have to retrace back to an S/R level.
But I generally always require a bpc upon breakout.

Attached is another range I would trade to the downside on gbp/aud hourly, once it breaks out to the downside with a bpc

Hope that makes sense

hmm but the earlier gbp/cad pair u took. did u based on the bpc?
cause i dont see any pullback on 15m.
anyway u will only enter the trade aft the continuation breaks past the break out like normally how we take the trade is it?
  • #1,608
  • Jan 6, 2010 6:29am Jan 6, 2010 6:29am
Quoting ja5on
hmm but the earlier gbp/cad pair u took. did u based on the bpc?
cause i dont see any pullback on 15m.
anyway u will only enter the trade aft the continuation breaks past the break out like normally how we take the trade is it?
yeah, as I mentioned in earlier posts, for swing trades I have three different entry methods.
1. a touch of the S/R level (kind of predicting the bounce),
2. a break of a pinbar,
3. a bpc or a 1-2-3 with a break of the retracement trendline

that gbp/cad trade was based on a break of a pinbar on the daily chart. On the chart attached, it's the third bar from the right.

I normally use these three methods to average into a trade, so I can get a better entry price without increasing my risk. Also I average out normally with 2 to 3 targets. (but I always only have ONE hard stop, which I move to breakeven, once my 1st target is reached)

best regards
Attached Image (click to enlarge)
Click to Enlarge Name: gbpcad d1 5.1.2010.gif Size: 49 KB
  • #1,609
  • Jan 6, 2010 6:35am Jan 6, 2010 6:35am
Quoting Custos
yeah, as I mentioned in earlier posts, for swing trades I have three different entry methods.
1. a touch of the S/R level (kind of predicting the bounce),
2. a break of a pinbar,
3. a bpc or a 1-2-3 with a break of the retracement trendline

that gbp/cad trade was based on a break of a pinbar on the daily chart. On the chart attached, it's the third bar from the right.

I normally use these three methods to average into a trade, so I can get a better entry price without increasing my risk. Also I average out normally with 2 to 3 targets. (but...
those pin bar things you can learn very well in the james16 chart thread. However, I only use pin bars in trending conditions, not using them for counter-trend trades.
  • #1,610
  • Jan 6, 2010 6:54am Jan 6, 2010 6:54am
Quoting Custos
those pin bar things you can learn very well in the james16 chart thread. However, I only use pin bars in trending conditions, not using them for counter-trend trades.

nice. but those pin bars. i think work better only on higher tf. so unless they appear in higher tf. it is not very valid
  • #1,611
  • Jan 6, 2010 6:59am Jan 6, 2010 6:59am
My thanks to NightMoves for starting this thread. Quite spooky, as I independently started testing my own almost identical MA trend system early in December. Perhaps the only difference on the charts is that I use the 13, 50 and 100 (rather than the 30, 50, 100 that you use). Clearly, I get in earlier and get out earlier, sometimes gaining compared to you, and sometimes losing compared to you - perhaps it's swings and roundabouts.

My entry criteria is very simple. When the 13 MA crosses the 50, I enter a pending trade (in line with the trend), which will go live when the market price breaks the high/low of the previous bar. When the 13 MA crosses BOTH the 50 and 100 I exit. This keeps me in a trade longer than if I was just to use the 50 MA as the exit point. So I've always got a trade running (or pending) on each pairing as the market will always be above or below the 13 MA.

Early indications show a profit, although much of my testing was during the Christmas slow-down, which is clearly not representative. However, even during that quiet time it just about maintained a balance between profit and loss, so I hope that's a good sign of it's ability to weather ranging markets.

This method is perhaps the simplest trading system I've ever devised or followed. It would be funny if it was also the most profitable!
  • #1,612
  • Jan 6, 2010 7:04am Jan 6, 2010 7:04am
How do you boys like this chart for a trend setup chart.
Attached Image (click to enlarge)
Click to Enlarge Name: 1.jpg Size: 131 KB
  • #1,613
  • Jan 6, 2010 7:04am Jan 6, 2010 7:04am
Quoting Custos
I trade pairs with jpy, nzd and aud inside in the tokyo session, the pairs with gbp, eur, chf in london and cad & usd during NY session.
The thought behind that is that most traders in europe mostly focus on european currencies and not so much on the others. the same goes for traders in US and Canada, they will focus more on usd and cad, and so on.
Problem is, if you trade a currency pair like aud/jpy in the london session, it will have quite low liquidity and maybe not respect the S/R levels so much. Also it's hard to find good momentum, if nobody...
hey Custos

what would you do with a say, g/j, or c/j ? which session ?
  • #1,614
  • Jan 6, 2010 7:04am Jan 6, 2010 7:04am
I believe there's a theory that claims trends starting in the Asian session often continue in to the London session. Can anyone point me towards a source of info? Thanks,
  • #1,615
  • Jan 6, 2010 7:06am Jan 6, 2010 7:06am
Quoting shomari
hey Custos

what would you do with a say, g/j, or c/j ? which session ?
gbp/jpy - london and asian session
cad/jpy - ny and asian session

hope that helps
  • #1,616
  • Jan 6, 2010 7:08am Jan 6, 2010 7:08am
Quoting Musashi
How do you boys like this chart for a trend setup chart.
Looks good I think, just the time-frame is a little low, but if you like those faster time-frames it should be alright. As well, wrong session for eur/jpy. So pay extra attention on momentum.

best regards
  • #1,617
  • Jan 6, 2010 7:11am Jan 6, 2010 7:11am
Quoting Custos
Looks good I think, just the time-frame is a little low, but if you like those faster time-frames it should be alright. As well, wrong session for eur/jpy. So pay extra attention on momentum.

best regards
but I would still wait till it retraces down further to one of the major fib levels, and find a confluence of S/R
  • #1,618
  • Jan 6, 2010 7:13am Jan 6, 2010 7:13am
Quoting Custos
Looks good I think, just the time-frame is a little low, but if you like those faster time-frames it should be alright. As well, wrong session for eur/jpy. So pay extra attention on momentum.

best regards

Trade from earlier.
Attached Image (click to enlarge)
Click to Enlarge Name: 1.jpg Size: 122 KB
  • #1,619
  • Jan 6, 2010 7:44am Jan 6, 2010 7:44am
Quoting Custos
gbp/jpy - london and asian session
cad/jpy - ny and asian session

hope that helps
Custos
Do you trade 1 session, say london + 1/2 ny or ....
Do you basically stay "on-call" 24/7 with your alarms set ?
  • #1,620
  • Jan 6, 2010 7:53am Jan 6, 2010 7:53am
Quoting Musashi
How do you boys like this chart for a trend setup chart.
Musashi,
That is an interesting chart for sure. Looks like a combiniation of bars and candlesticks. You have some interesting stuff going on in there.

--NM
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