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Trend Trading All Pairs

  • #1,841
  • Jan 11, 2010 3:12pm Jan 11, 2010 3:12pm
I banked out 51 pips between the 2 trades and moved all my stops to BE just not enough momentum in this market today I am sitting at 19 and 41 pips between the U/J and G/A respectively right now.

--NM
  • #1,842
  • Jan 11, 2010 3:55pm Jan 11, 2010 3:55pm
Hello All...

Been awhile... reading, studying and thinking.

One of the basic rules are the 3 MA's. But at times, I think I am reading in the thread about positions that do not follow them being in order, aligned and straight in order to trade the harmonic waves going with the trend until price hits the 100ma.

I feel I missed something.

Thanks,
BR
  • #1,843
  • Jan 11, 2010 4:05pm Jan 11, 2010 4:05pm
Quoting Big1red9
Hello All...

Been awhile... reading, studying and thinking.

One of the basic rules are the 3 MA's. But at times, I think I am reading in the thread about positions that do not follow them being in order, aligned and straight in order to trade the harmonic waves going with the trend until price hits the 100ma.

I feel I missed something.

Thanks,
BR
HI BR,

The MA lines are only an indicator that lets you know the trend is established on that time frame. Also they give you and indication of how strong or healthy the trend is. If the price starts banging off the 100 MA then it may be losing steam.

Now with that being said, you may have a nice healthy trend on the 4hr chart per the MA lines, and price is no where near the 100, now when you look at the 1hr chart then price may be banging off the 100 MA.

The 4 hr chart still may show a good trend then i would look for a setup on the 4 hr and would not be looking on the 1 hr for the setup.

But you would still use the 1 hr as your trigger chart in which case the MA lines may even be crossing each other, but that does not make any difference on the trigger chart, you only need them to be in good shape on your setup chart.

Hope that helps...

--NM
  • #1,844
  • Jan 11, 2010 4:17pm Jan 11, 2010 4:17pm
Quoting Big1red9
Hello All...

Been awhile... reading, studying and thinking.

One of the basic rules are the 3 MA's. But at times, I think I am reading in the thread about positions that do not follow them being in order, aligned and straight in order to trade the harmonic waves going with the trend until price hits the 100ma.

I feel I missed something.

Thanks,
BR
BR,
Here is an example of what I am talking about:
the first chart is the setup chart you can see how I had the trend lines and resistance line marked, the MA lines are in order and all pointing the same direction, which tells me we have a nice down trend on the 4 hour chart and it is tradable.

Now I zoom to the trigger chart which would normally be the 1 hr TF when using a 4 hr setup, but I used the 15 min in this case because the market was so slow. But notice how the MA lines are just everywhich way, that makes no idfference on the trigger chart.

I am looking for a break of the retracement trend line that I drew up on the setup chart and then subsequent pullback after that breakout. and right at the point when the continuation slid lower than the point when the pullback started, that is when I entered the trade.

--NM
Attached Image(s) (click to enlarge)
Click to Enlarge Name: GBPAUD4hrSETUP.png Size: 39 KB
Click to Enlarge Name: 1-11-2010 1-43-59 PM Trade entry.png Size: 39 KB
  • #1,845
  • Jan 11, 2010 4:31pm Jan 11, 2010 4:31pm
NM,

Thank you. In General what I had thought.

What TF are you using on the USDJPY to get it to fit the MA's?

Thanks again!
BR


Quoting NightMoves
BR,
Here is an example of what I am talking about:
the first chart is the setup chart you can see how I had the trend lines and resistance line marked, the MA lines are in order and all pointing the same direction, which tells me we have a nice down trend on the 4 hour chart and it is tradable.

Now I zoom to the trigger chart which would normally be the 1 hr TF when using a 4 hr setup, but I used the 15 min in this case because the market was so slow. But notice how the MA lines are just everywhich way, that makes no idfference on the trigger...
  • #1,846
  • Jan 11, 2010 4:38pm Jan 11, 2010 4:38pm
Quoting Big1red9
NM,

Thank you. In General what I had thought.

What TF are you using on the USDJPY to get it to fit the MA's?

Thanks again!
BR
The USDJPY I traded that different from the normal way I trade, I used the inside daily bar to take that trade. That trade was not based off of the trend and I only made around 25 pips on that trade so it really was not a good trade imo I have traded inside bars before and have had some pretty good success doing it but it is better to stick to the trend direction.

--NM
  • #1,847
  • Jan 11, 2010 4:46pm Jan 11, 2010 4:46pm
ROFLMAO

You have nooooo idea what I was thinking about myself. Thought it was time for a hulla-hut (still might be!)

Thanks

Quoting NightMoves
The USDJPY I traded that different from the normal way I trade, I used the inside daily bar to take that trade. That trade was not based off of the trend and I only made around 25 pips on that trade so it really was not a good trade imo I have traded inside bars before and have had some pretty good success doing it but it is better to stick to the trend direction.

--NM
  • #1,848
  • Jan 11, 2010 4:50pm Jan 11, 2010 4:50pm
Quoting Big1red9
ROFLMAO

You have nooooo idea what I was thinking about myself. Thought it was time for a hulla-hut (still might be!)

Thanks
LMAO...no you not losing it...I just did something that was not normal....ROFL...

--NM
  • #1,849
  • Jan 11, 2010 4:52pm Jan 11, 2010 4:52pm
Quoting Big1red9
ROFLMAO

You have nooooo idea what I was thinking about myself. Thought it was time for a hulla-hut (still might be!)

Thanks
well, actually I think the setup chart for usd/jpy is right now the weekly chart, and daily being the trigger chart.
and as nightmoves mentioned, the ma's are just a guide. You could as well delete those ma's if they confuse you.
I just find them useful, cause they always help me find which time-frame the setup chart is, but I am quite flexible in how the price behaves with the ma's.
what we trade here is price action around S/R levels with the trend. We don't trade off the ma's.

hope that helps
  • #1,850
  • Jan 11, 2010 4:54pm Jan 11, 2010 4:54pm
Quoting Big1red9
ROFLMAO

You have nooooo idea what I was thinking about myself. Thought it was time for a hulla-hut (still might be!)

Thanks
BR,
Pull up the CADJPY and look at the 4 hour chart, then switch to the 1 hour and you see the 1 hr trend looks doomed, but the 4 hour looks good and price is where we want it.

--NM
  • #1,851
  • Jan 11, 2010 5:08pm Jan 11, 2010 5:08pm
Quoting Custos
well, actually I think the setup chart for usd/jpy is right now the weekly chart, and daily being the trigger chart.
and as nightmoves mentioned, the ma's are just a guide. You could as well delete those ma's if they confuse you.
I just find them useful, cause they always help me find which time-frame the setup chart is, but I am quite flexible in how the price behaves with the ma's.
what we trade here is price action around S/R levels with the trend. We don't trade off the ma's.

hope that helps
Correct I really only use the MA lines to judge the trend not to trade off if it, it is easier to judge retracement depths at a glance and when they all pointing the same direction the trend is pretty well established and imo lower risk trades than just going at it blind.

But as Custos has said you could eliminate them all together if you wanted too, because our entries are based off of PA around the S/R levels.
I just find them really useful for determining trend strength and weakness.

--NM
  • #1,852
  • Jan 11, 2010 5:11pm Jan 11, 2010 5:11pm
Quoting NightMoves
I triggered an entry on the U/J and the G/A pair and sitting at 22 and 24 pips respectively, the U/J is free trade the G/A is not so I will watch that one and may have to close it out if starts retracing back to my entry.

--NM
NightMoves....hey I took one of your trades and using your method was able to squeeze out a few pips....about 25 on the GBP/AUD..... I used the BPC and it worked like gold. I entered as soon as the low from the pullback to the trend was broken and set my exit at 1.7300. The greatest thing is I feel like I have more control over the trade. Very nice...thanks again for the great thread. Makin' money is fun.

http://www.biggerbids.com/members/im...screenshot.jpg

  • #1,853
  • Jan 11, 2010 5:17pm Jan 11, 2010 5:17pm
Quoting Pip Dawg
NightMoves....hey I took one of your trades and using your method was able to squeeze out a few pips....about 25 on the GBP/AUD..... I used the BPC and it worked like gold. I entered as soon as the low from the pullback to the trend was broken and set my exit at 1.7300. The greatest thing is I feel like I have more control over the trade. Very nice...thanks again for the great thread. Makin' money is fun.

http://www.biggerbids.com/members/im...screenshot.jpg

Hi Pip Dawg,

I took that same trade and so did custos, I bailed on it at somehwere around 40 pips, but yep same setup. Good Job!

I was really hoping it was going further but the whole day was pretty lathargic imo.

--NM
  • #1,854
  • Jan 11, 2010 5:21pm Jan 11, 2010 5:21pm
One of the pairs I have on watch.

Looks like we need about 89.18, to be good to go for a long.


Quoting NightMoves
BR,
Pull up the CADJPY and look at the 4 hour chart, then switch to the 1 hour and you see the 1 hr trend looks doomed, but the 4 hour looks good and price is where we want it.

--NM
  • #1,855
  • Edited Jan 12, 2010 6:48am Jan 11, 2010 5:23pm | Edited Jan 12, 2010 6:48am
Custos,

Thanks for adding clarity. The videos from Hector pounds the need for the MA's to be a certain way.

What are you using for S/R? Fib RN or previous lows/highs?

Thank you,
BR


Quoting Custos
well, actually I think the setup chart for usd/jpy is right now the weekly chart, and daily being the trigger chart.
and as nightmoves mentioned, the ma's are just a guide. You could as well delete those ma's if they confuse you.
I just find them useful, cause they always help me find which time-frame the setup chart is, but I am quite flexible in how the price behaves with the ma's.
what we trade here is price action around S/R levels with the trend. We don't trade off the ma's.

hope that helps
  • #1,856
  • Jan 11, 2010 5:24pm Jan 11, 2010 5:24pm
Quoting Big1red9
One of the pairs I have on watch.

Looks like we need about 89.18, to be good to go for a long.
Becareful going long on that pair it is testing some longer term resistance, if you take a look at the weekly you will see it.

--NM
  • #1,857
  • Jan 11, 2010 5:24pm Jan 11, 2010 5:24pm
Quoting NightMoves
Hi Pip Dawg,

I took that same trade and so did custos, I bailed on it at somehwere around 40 pips, but yep same setup. Good Job!

I was really hoping it was going further but the whole day was pretty lathargic imo.

--NM
I just get too "antsy" when I have a profit. I know I cut myself short sometimes and leave profit on the table but I'm still learning about that patience thing. I need to just get the rules straight and stick to them I guess.
  • #1,858
  • Jan 11, 2010 5:30pm Jan 11, 2010 5:30pm
Quoting Pip Dawg
I just get too "antsy" when I have a profit. I know I cut myself short sometimes and leave profit on the table but I'm still learning about that patience thing. I need to just get the rules straight and stick to them I guess.
Patience is really a virtue and takes practice and practice. The key is as soon as you can move your stop safely to BE then the patience is much easier to achieve.

I was hoping that pair would move tothe previous swing low and I was going to half out there, but it never got there so I decided to half out before that level and then it started coming back up so I closed it out but I still banked a good amount of pips for the way it was moving.

--NM
  • #1,859
  • Jan 11, 2010 5:33pm Jan 11, 2010 5:33pm
Close to tops going back into May 09...had seen those.

So if price is where we want it but its near a top.. wait for the top to blow then jump in or... get in watching for the resistance or go fish other waters.

Thanks!
BR




Quoting NightMoves
Becareful going long on that pair it is testing some longer term resistance, if you take a look at the weekly you will see it.

--NM
  • #1,860
  • Jan 11, 2010 5:43pm Jan 11, 2010 5:43pm
Quoting Big1red9
Close to tops going back into May 09...had seen those.

So if price is where we want it but its near a top.. wait for the top to blow then jump in or... get in watching for the resistance or go fish other waters.

Thanks!
BR
Price is where I would want to see it if we were not slapping the long term resistance, it could still move higher but I think now the risk factor increases so I think I am going to pass on that pair for now, we may see a reversal.

I just get a little jumpy when we get that close to long term S/R levels.

--NM
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