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Trend Trading All Pairs

  • #1,641
  • Jan 6, 2010 6:07pm Jan 6, 2010 6:07pm
Quoting NightMoves
Hi Guys,
I thought I would post the AUDJPY weekly chart, it is in an area where it is either going to break or drop like a rock again.

--NM
AUDUSD is also ready for a breakout to the upside. Attached is the daily chart. Looking for a long entry on the hourly chart, but don't forget, in half an hour important news come out on aud. so enter only after the news have come out.

best regards
Attached Image (click to enlarge)
Click to Enlarge Name: audusd d1 7.1.2010.gif Size: 45 KB
  • #1,642
  • Jan 6, 2010 6:46pm Jan 6, 2010 6:46pm
Quoting Custos
AUDUSD is also ready for a breakout to the upside. Attached is the daily chart. Looking for a long entry on the hourly chart, but don't forget, in half an hour important news come out on aud. so enter only after the news have come out.

best regards
hehe, went exactly as I thought. But didn't get filled damn it. I am gonna try something here now. I am gonna enter at 0.9250 with a stop at 0.9208. I believe this is just the beginning of a move up, so I will take a longer term position on that one. It is just an experiment with only 0.5% of my account.

1st target: 0.9290, I will exit 50% of the trade
2nd target: 0.9390, I will exit 25% of the trade
3rd target: 0.9790, I will exit 12.5% of the trade
and finally 4th target: 1.0090, I will exit the rest.

R:R is around 1:5

best regards
  • #1,643
  • Edited 7:03pm Jan 6, 2010 7:02pm | Edited 7:03pm
Quoting Custos
hehe, went exactly as I thought. But didn't get filled damn it. I am gonna try something here now. I am gonna enter at 0.9250 with a stop at 0.9208. I believe this is just the beginning of a move up, so I will take a longer term position on that one. It is just an experiment with only 0.5% of my account.

1st target: 0.9290, I will exit 50% of the trade
2nd target: 0.9390, I will exit 25% of the trade
3rd target: 0.9790, I will exit 12.5% of the trade
and finally 4th target: 1.0090, I will exit the rest.

R:R is around 1:5

best regards...
Gutsy trading...thats what I like to see.....

Good luck I almost did the same thing....now I can either say damn I am glad I did not do that or I can say I wished I would have followed his lead...

--NM
  • #1,644
  • Jan 6, 2010 8:00pm Jan 6, 2010 8:00pm
Quoting Moxy_UK
I haven't read through the thread yet, just browsed quickly. I will read through the old posts so I don't ask or repeat subjects that have already been discussed. In the mean time I thought I would add an old trade plan summary I made some time back that may fit in well with some of the methods used here. I have a the detailed plan knocking around somewhere too. If anyone is interested in it after reading the summary, let me know and I will dig it out.

Attachment

Cheers,
I haven't started trading yet, but have been following this thread with great interest. I would be interested in the 'detailed plan'. Thanks
  • #1,645
  • Jan 6, 2010 8:22pm Jan 6, 2010 8:22pm
Quoting Andy_G
I haven't started trading yet, but have been following this thread with great interest. I would be interested in the 'detailed plan'. Thanks
Hello Andy,
If you go back through the first few pages that pretty much explains all the details of the method. I can also send you pdf files of the whole method, it is really basic and in the pdf files is a pre entry condition sheet that you can use until you get used to trading this way.

I actually have put together a power point lesson plan that covers the whole concept right down to R:R and MM.
The pdf files might be easier because there are no videos attached to them the power point files have videos and the files are quite large.

--NM
  • #1,646
  • Jan 7, 2010 1:11am Jan 7, 2010 1:11am
Quoting NightMoves
Gutsy trading...thats what I like to see.....

Good luck I almost did the same thing....now I can either say damn I am glad I did not do that or I can say I wished I would have followed his lead...

--NM
haha, the experiment failed miserably, but I still think we are more likely to move up than down. So just waiting for a new setup to emerge
  • #1,647
  • Jan 7, 2010 1:22am Jan 7, 2010 1:22am
Quoting Custos
hehe, went exactly as I thought. But didn't get filled damn it. I am gonna try something here now. I am gonna enter at 0.9250 with a stop at 0.9208. I believe this is just the beginning of a move up, so I will take a longer term position on that one. It is just an experiment with only 0.5% of my account.

1st target: 0.9290, I will exit 50% of the trade
2nd target: 0.9390, I will exit 25% of the trade
3rd target: 0.9790, I will exit 12.5% of the trade
and finally 4th target: 1.0090, I will exit the rest.

R:R is around 1:5

best regards
I'm looking at same, but looking to enter off the h1 setup chart. Maybe around 0.9200 or so.

I'm with NM, gutsy trading, bold move.

How long are you planning to hold it ?


cheers

shomari
  • #1,648
  • Jan 7, 2010 1:37am Jan 7, 2010 1:37am
Quoting shomari
I'm looking at same, but looking to enter off the h1 setup chart. Maybe around 0.9200 or so.

I'm with NM, gutsy trading, bold move.

How long are you planning to hold it ?


cheers

shomari
as I said, I already got stopped out, waiting for a new setup now. But it was just an experiment, so I expected it to go either way. Sometimes those experiments also turn out to have a nice profit, however, I would never risk a lot on my experiments , hehe. They are more of a boredom filler.

best regards
  • #1,649
  • Jan 7, 2010 1:54am Jan 7, 2010 1:54am
Quoting Andy_G
I haven't started trading yet, but have been following this thread with great interest. I would be interested in the 'detailed plan'. Thanks
Hi Andy,

I have attached the detailed plan. I hope it is of some use. I called it a detailed plan but after reading through it, it is more of a methodology summary. It was created from stuff i learnt from Hector and some other traders over the years. Pull from it what you can. Any questions feel free to ask. You will see there is a lot of stuff in there that is already in this thread. I have no doubt NightMoves has probably given good explanations of the various techniques mentioned.
Attached File(s)
File Type: pdf Moxy - Trade Methodology_Details_v2.pdf   232 KB | 7,720 downloads
  • #1,650
  • Jan 7, 2010 2:13am Jan 7, 2010 2:13am
Quoting Moxy_UK
Hi Andy,

I have attached the detailed plan. I hope it is of some use. I called it a detailed plan but after reading through it, it is more of a methodology summary. It was created from stuff i learnt from Hector and some other traders over the years. Pull from it what you can. Any questions feel free to ask. You will see there is a lot of stuff in there that is already in this thread. I have no doubt NightMoves has probably given good explanations of the various techniques mentioned.
Attachment
From what I read now, it is pretty much a good summary of the method. thanks for posting it on the thread!
Just one thing I would definitely exclude is the use of indicators (except maybe the SMAs and ATR), especially for newbies. I've been down the indicator road, and it has been an ugly experience.
So, for any newbie, I would advise to get rid of all oversold/overbought indicators & any bands. I believe a bounce of an S/R level says already everything. Most indicators will just clutter your charts and not give you any good information.
The less indicators, the better, price is actually the only indicator you should ever need.

best regards
  • #1,651
  • Jan 7, 2010 2:17am Jan 7, 2010 2:17am
Quoting Custos
From what I read now, it is pretty much a good summary of the method. thanks for posting it on the thread!
Just one thing I would definitely exclude is the use of indicators (except maybe the SMAs and ATR), especially for newbies. I've been down the indicator road, and it has been an ugly experience.
So, for any newbie, I would advise to get rid of all oversold/overbought indicators & any bands. I believe a bounce of an S/R level says already everything. Most indicators will just clutter your charts and not give you any good information.
The less...
but that's just my opinion. just sharing my experience with indicators here.
  • #1,652
  • Jan 7, 2010 2:19am Jan 7, 2010 2:19am
Anyone looking at the NZDUSD 1HR. 62 fib, round number ?
Attached Image (click to enlarge)
Click to Enlarge Name: nzdusd 1hr setup.gif Size: 21 KB
  • #1,653
  • Jan 7, 2010 2:25am Jan 7, 2010 2:25am
Thot I share a trade I took today. Missed the usdcad short as there was no pull back even in 15 mins. Hope u guys caught it too.

Been playing off the oil lately , in fact this whole week ...so am inclined to be long cad.
Attached Image (click to enlarge)
Click to Enlarge Name: eurcad.gif Size: 29 KB
  • #1,654
  • Jan 7, 2010 2:27am Jan 7, 2010 2:27am
This is what can happen if you buy high... and trail position.
Attached Image (click to enlarge)
Click to Enlarge Name: 1.jpg Size: 188 KB
  • #1,655
  • Jan 7, 2010 2:29am Jan 7, 2010 2:29am
Am inclined to be indicator adverse too except for MAs and tools like fibs.

Price action reading is very much what I rely on mostly . Reliable and have kept me afloat for a while -))

The pdf is nicely made. Thanks. -))
  • #1,656
  • Jan 7, 2010 2:29am Jan 7, 2010 2:29am
Quoting glynnt
Anyone looking at the NZDUSD 1HR. 62 fib, round number ?
it's definitely a setup. I don't wanna be the guy who always criticizes everything, but I think being very selective in what you trade will give you a much higher long-term profitability.
So here is my take on that pair:
1. M1 resistance just above, thus you would be buying against resistance.
2. And wrong session, might not have enough liquidity to develop momentum and could turn upside down.

best regards

By the way, I am currently only watching two pairs for this session: gbp/chf and gbp/aud. However, wait till the news on gbp have come out in 30 min before you enter any trade.
Attached Image (click to enlarge)
Click to Enlarge Name: nzusd m1 7.1.2010.gif Size: 50 KB
  • #1,657
  • Jan 7, 2010 2:31am Jan 7, 2010 2:31am
Quoting Musashi
This is what can happen if you buy high... and trail position.
definitely good trading! I always set 25% of my trade apart for shooting for very far away targets. That's definitely the way to go!
  • #1,658
  • Jan 7, 2010 6:38am Jan 7, 2010 6:38am
Here is the 30-min USDCAD. The 30min gave a nice Pin-bar. I'm not trading it, just watching.

Attached Image (click to enlarge)
Click to Enlarge Name: USDCAS 30min.jpg.jpg Size: 165 KB
  • #1,659
  • Jan 7, 2010 6:45am Jan 7, 2010 6:45am
a breakout out to watch for in the asian session.

attached is the aud/jpy hourly chart. The breakout to the upside would coincide with breaking the weekly resistance level. Hopefully we have enough buyers to push through.
Attached Image (click to enlarge)
Click to Enlarge Name: audjpy h1 7.1.2010.gif Size: 52 KB
  • #1,660
  • Jan 7, 2010 6:45am Jan 7, 2010 6:45am
Nice Trade jonjon,

Yeah caught that yesterday and am still riding it......just about worried about the CAD IVY out in about 2 hours............

Quoting jonjon
Thot I share a trade I took today. Missed the usdcad short as there was no pull back even in 15 mins. Hope u guys caught it too.

Been playing off the oil lately , in fact this whole week ...so am inclined to be long cad.
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