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Trend Trading All Pairs

  • #1,661
  • Jan 7, 2010 6:51am Jan 7, 2010 6:51am
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.
haha, I have tried to figure out now for a while which opportunity you referred to on the usd/cad. Don't you mean the eur/cad? I think your chart shows that pair, right?
  • #1,662
  • Jan 7, 2010 6:52am Jan 7, 2010 6:52am
Quoting NightMoves
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....
Hi NM

Anything you are will to share with me (pdf,files, pp lesson plan) would be fantastic. I was going down the route of indicators etc. but purely on the strength of this thread, I have now purchased Hector's course, but any other variations on this method are very interesting. So thanks for starting this thread (and probably saving me a lot of time and money). Also thanks to Custos and Moxy for their response.

Andy
  • #1,663
  • Jan 7, 2010 7:04am Jan 7, 2010 7:04am
Attached Image (click to enlarge)
Click to Enlarge Name: AUDUSD,H1.jpg Size: 212 KB
  • #1,664
  • Jan 7, 2010 7:17am Jan 7, 2010 7:17am
Quoting Moxy_UK
Attachment
and from me also one more to watch! GBPAUD hourly chart. Again, start watching at the asian session, any signal before will probably not follow through.
Attached Image (click to enlarge)
Click to Enlarge Name: gbpaud h1 7.1.2010.gif Size: 55 KB
  • #1,665
  • Jan 7, 2010 7:23am Jan 7, 2010 7:23am
Quoting Andy_G
Hi NM

Anything you are will to share with me (pdf,files, pp lesson plan) would be fantastic. I was going down the route of indicators etc. but purely on the strength of this thread, I have now purchased Hector's course, but any other variations on this method are very interesting. So thanks for starting this thread (and probably saving me a lot of time and money). Also thanks to Custos and Moxy for their response.

Andy
honestly, his course is the best investment I ever made. He really teaches you how to fish. You just have to follow all his rules and then once you are comfortable with the method you can start experimenting and get your own style or incorporate other PA methods into that system.

best regards
  • #1,666
  • Jan 7, 2010 7:32am Jan 7, 2010 7:32am
Quoting Custos
honestly, his course is the best investment I ever made. He really teaches you how to fish. You just have to follow all his rules and then once you are comfortable with the method you can start experimenting and get your own style or incorporate other PA methods into that system.

best regards

I second that Custos. Hector has created a little secret gem that only a few of us have found. On the down side though.... he says the phrase 'More-Over' way too often
  • #1,667
  • Jan 7, 2010 7:40am Jan 7, 2010 7:40am
Quoting Moxy_UK
I second that Custos. Hector has created a little secret gem that only a few of us have found. On the down side though.... he says the phrase 'More-Over' way too often
haha, yeah, he likes to talk a lot. Was sometimes difficult to stay focused for the whole explanation on his videos. haha, but nonetheless he is an awesome teacher.
  • #1,668
  • Jan 7, 2010 7:54am Jan 7, 2010 7:54am
Hi Custos ,


my bad that i wasnt clear -)) Posted the chart of the trade i took ...yes eurcad
But in cross action its impt to me what the cad leg is going to do. With the $cad leg also on the inflection pt break ....I was going to short it too -))

Works the same when i trade jpy crosses.

Yeah Looks like aud is a watch.... thanks
  • #1,669
  • Jan 7, 2010 8:02am Jan 7, 2010 8:02am
Hello custos.. regarding the aud/usd , it seems like a gr8 setup..

61.8 , RN ,Dyn Supp .. from your experience, do u really think it wont follow through ?
  • #1,670
  • Jan 7, 2010 8:07am Jan 7, 2010 8:07am
Quoting MysticaL8e4r
Hello custos.. regarding the aud/usd , it seems like a gr8 setup..

61.8 , RN ,Dyn Supp .. from your experience, do u really think it wont follow through ?
well, problem with that pair is, that it already moved its ATR for the day. You know there is no guarantee in trading, it might just shoot up for some nice profits right now, but since it already moved its ATR, I will wait until asian session starts again.
I rather miss a profit, than enter into a potential losing trade.

best regards
  • #1,671
  • Jan 7, 2010 8:12am Jan 7, 2010 8:12am
Quoting Custos
well, problem with that pair is, that it already moved its ATR for the day. You know there is no guarantee in trading, it might just shoot up for some nice profits right now, but since it already moved its ATR, I will wait until asian session starts again.
I rather miss a profit, than enter into a potential losing trade.

best regards
but you can for sure go ahead and enter the trade, I would just cut back on the lot size, if you enter. In general I only enter A+ setups, with which I don't see anything wrong, but from time to time I also enter worse setups but with less percentage of my account. maybe only 0.1 to 0.5% for less than perfect setups, and 3-5% for A+ setups.
  • #1,672
  • Jan 7, 2010 8:14am Jan 7, 2010 8:14am
ok , thanks Custos .. should remember that ... " Follow The Rules , take high probability setup only "
  • #1,673
  • Jan 7, 2010 8:17am Jan 7, 2010 8:17am
good idea.. will apply that in the future.. thanks!
  • #1,674
  • Jan 7, 2010 11:07am Jan 7, 2010 11:07am
Quoting MysticaL8e4r
Hello custos.. regarding the aud/usd , it seems like a gr8 setup..

61.8 , RN ,Dyn Supp .. from your experience, do u really think it wont follow through ?
and as you see, it's just ranging around. no momentum whatsoever. best to leave a pair alone after it has moved all its ATR for the day.
Attached Image (click to enlarge)
Click to Enlarge Name: audusd h1 7.1.2010.gif Size: 53 KB
  • #1,675
  • Jan 7, 2010 2:38pm Jan 7, 2010 2:38pm
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...
I'm with Custos when it comes to indicators and bands and the like. They are completely USELESS because they only show you what has ALREADY happened.
If , I want to know what happened I can look at the chart !! And as far as overbought and oversold, in forex they don't matter, because there is no central "market", it's global, so you CAN'T know overbought/sold. No one knows the volumes. ALL of those different types of indicators are a scam.
Thay could only possibly be useful if you DIDN'T have a chart to look at and wanted to know what the pair did. Other than that they are useless!!
  • #1,676
  • Edited 8:01pm Jan 7, 2010 2:57pm | Edited 8:01pm
I don't mean the SMAs of course or ADR, just those types that usually sit on the bottom of the charts.
SMAs (30, 50 , 100 combined) are the best indicator because it tells you what "SHOULD" happen at mor than 50/50 so it tells you what is YET to come. 99.9999% of indicators only show you what ALREADY happened. I have a chart , and I have eyes, I don't need an indicator to show me thhat.

Those oscillators and such might work with stocks because there is a finite number of shares per company, and they are "centralized" in certain markets ie. DOW NASD etc, so the indicators can tell you if more, say, Microsoft is bought than normal and the volumes etc. In forex it's from bank to bank and there is no finite limit of a currency. In fact governments around the world are printing money every day !! That's why it's an almost 100% liquid market. In other words, because of the nature of the forex "market", it renders those types of indicators useless. All the broker is doing is showing you is MACD data based on the trades through it's own computers, not a whole market like with, say, the DOW or S&P. So it's false data. False "market" data, because there is no central market in forex.

and fxsurfer, I don't think you'll find many indicator defenders on this thread. At least not if they've actually traded this system.

IMHO anyways.

cheers
shomari
  • #1,677
  • Jan 7, 2010 6:56pm Jan 7, 2010 6:56pm
Quoting Custos
and from me also one more to watch! GBPAUD hourly chart. Again, start watching at the asian session, any signal before will probably not follow through.

give u a heads up.
i think gbp/aud is hitting a resistance on the daily tf. you might wanna take a look on that =D
  • #1,678
  • Jan 7, 2010 7:07pm Jan 7, 2010 7:07pm
anyway i think market is going to range till NFP today. we shall see what happens after that
  • #1,679
  • Jan 7, 2010 7:10pm Jan 7, 2010 7:10pm
Do you mean support?
Attached Image (click to enlarge)
Click to Enlarge Name: gbpaud-daily-08012010-0108.jpg Size: 70 KB
If you think you can or cannot do it you are correct
  • #1,680
  • Jan 7, 2010 7:48pm Jan 7, 2010 7:48pm
Hi guys its my first time here,
my signal is GBPAUD
Happening on my real account

TREND UP
BUY: 1.7374

STOPLOSS: OPEN TO YOU

TAKEPROFITS: 1.1739 ratio 2.7
1.17401 ratio 4.5
1.17417 ratio 7.2

please more analyses would help
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