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Trend Trading All Pairs

  • #1,941
  • Jan 12, 2010 9:14pm Jan 12, 2010 9:14pm
Quoting jtone
this one looks pretty close to some majoy weekly support. i'm guessing your plan was just to hold this to the last daily swing low at 1.5520 maximum?
I actually closed half my position out and moved my SL to BE so it is a freebie now so if I get stopped out then nothing lost.

--NM
  • #1,942
  • Jan 12, 2010 10:53pm Jan 12, 2010 10:53pm
Can you just let us know the name of indi?

Quoting NightMoves
Hi BR,
No it is not BR the indi was part of the course a few us took, so it is actually a purchased indicator. And that is the reason it is not posted in the thread otherwise it would be posted here.

--NM
  • #1,943
  • Jan 12, 2010 11:01pm Jan 12, 2010 11:01pm
Quoting Munal
Can you just let us know the name of indi?
Hi Munal,
It is called the "3SMA trend filter pro" is what it is called.

--NM
  • #1,944
  • Jan 12, 2010 11:13pm Jan 12, 2010 11:13pm
Thanks Mate

So its from hectortrader......

Quoting NightMoves
Hi Munal,
It is called the "3SMA trend filter pro" is what it is called.

--NM
  • #1,945
  • Jan 12, 2010 11:15pm Jan 12, 2010 11:15pm
Quoting Munal
Thanks Mate

So its from hectortrader......
Yes it is, both of the indicators I use are from him, the 3SMA trend filter pro and the Dashboard indicator. They work pretty good.

--NM
  • #1,946
  • Jan 12, 2010 11:17pm Jan 12, 2010 11:17pm
So nice of you for the info
Quoting NightMoves
Yes it is, both of the indicators I use are from him, the 3SMA trend filter pro and the Dashboard indicator. They work pretty good.

--NM
  • #1,947
  • Jan 12, 2010 11:22pm Jan 12, 2010 11:22pm
Quoting Munal
So nice of you for the info
No problem, the grid indicator for round numbers is a freebie on one of his sites, he also has an indicator for the ADR that he is giving away.

--NM
  • #1,948
  • Jan 12, 2010 11:32pm Jan 12, 2010 11:32pm
I am downloding his indi and chapter from rapidshare .............. will give a try.


Quoting NightMoves
No problem, the grid indicator for round numbers is a freebie on one of his sites, he also has an indicator for the ADR that he is giving away.

--NM
  • #1,949
  • Jan 13, 2010 2:52am Jan 13, 2010 2:52am
anybody watching U/J H1 setup ? im watching the 91.57 level for a bounce to the downside.. lets see if it holds..
  • #1,950
  • Jan 13, 2010 3:07am Jan 13, 2010 3:07am
Yeah Mystical have the $jpy on radar to add shorts

However, m inclined to watch the 90.80 zone break on day as mentioned by Custos earlier for better comfort level.

Basis hourly 91.83/85 level is the XX naughty zone for me -))

Thanks to NM and Custos for keeping me more conservative and patient for the set ups -))
  • #1,951
  • Jan 13, 2010 3:40am Jan 13, 2010 3:40am
Trade I took on gbp today

Took half off at 1.6248
Balance riding for 1.6290

Tad riskier trade .....blueline entry red line stop

Comments from NM or Custos appreciated -))
Attached Image (click to enlarge)
Click to Enlarge Name: gbp.gif Size: 16 KB
  • #1,952
  • Jan 13, 2010 3:42am Jan 13, 2010 3:42am
Quoting jonjon
Yeah Mystical have the $jpy on radar to add shorts

However, m inclined to watch the 90.80 zone break on day as mentioned by Custos earlier for better comfort level.

Basis hourly 91.83/85 level is the XX naughty zone for me -))

Thanks to NM and Custos for keeping me more conservative and patient for the set ups -))
91.20 for me off the BPC of 91.50.

I agree, thanks to NM and CUSTOS for driving discipline down everyone's throat. Saved me MANY pips in the 2 months I've been here !!
  • #1,953
  • Jan 13, 2010 3:48am Jan 13, 2010 3:48am
Anyone watching JPY crosses ? Do they look ready to go short ?
  • #1,954
  • Jan 13, 2010 3:50am Jan 13, 2010 3:50am
JPY hourly setups?
  • #1,955
  • Jan 13, 2010 4:11am Jan 13, 2010 4:11am
which tf? and presume this is cable?

Quoting jonjon
Trade I took on gbp today

Took half off at 1.6248
Balance riding for 1.6290

Tad riskier trade .....blueline entry red line stop

Comments from NM or Custos appreciated -))
  • #1,956
  • Jan 13, 2010 4:31am Jan 13, 2010 4:31am
coolshades

yeah cable

u spot dealer before is it ? -))

15 m TF

ever dealt cable when interbank standard spreads were 10 pips ?
Just curious


Shomari

Been waiting for jpy crosses to set up.... for me am waiting for a couple more days
OMG am getting more patient -)) Kidding ....
  • #1,957
  • Jan 13, 2010 4:54am Jan 13, 2010 4:54am
Quoting jonjon
Trade I took on gbp today

Took half off at 1.6248
Balance riding for 1.6290

Tad riskier trade .....blueline entry red line stop

Comments from NM or Custos appreciated -))
I was looking at that too... waiting for a pull back to trendline and/or 50/100 zone


Btw I just got hectors indies installed. does anyone use the dashboard? haven't found one right signal yet. Plus my gbp/usd is clearly trending but no signal to be seen
Attached Image (click to enlarge)
Click to Enlarge Name: gbp.gif Size: 14 KB
It's my price or no price at all!
  • #1,958
  • Jan 13, 2010 5:05am Jan 13, 2010 5:05am
jonjon.. heres my chart.. the red line is what im expecting (plan A)
Attached Image (click to enlarge)
Click to Enlarge Name: UJ H1 Setup Chart.jpg Size: 182 KB
  • #1,959
  • Jan 13, 2010 5:14am Jan 13, 2010 5:14am
Quoting jonjon
coolshades

yeah cable

u spot dealer before is it ? -))

15 m TF

ever dealt cable when interbank standard spreads were 10 pips ?
Just curious


Shomari

Been waiting for jpy crosses to set up.... for me am waiting for a couple more days
OMG am getting more patient -)) Kidding ....

jonjon
True, jump to 1D tf. I was hoping for one more day short.

shomari
  • #1,960
  • Jan 13, 2010 5:59am Jan 13, 2010 5:59am
Quoting jonjon
Trade I took on gbp today

Took half off at 1.6248
Balance riding for 1.6290

Tad riskier trade .....blueline entry red line stop

Comments from NM or Custos appreciated -))
yeah, that was a kind of risky trade. Okay, I give you my analysis here. Attached is the weekly gbp/usd and the h4 gbp/usd.

1. As you see that pair is ranging around on the weekly. setups in a long-term range are always riskier than setups in a long-term trend.
2. You were buying right into H4 resistance (my light blue line on the h4 chart). As well very risky.
3. You were buying right into a round number 1.6250 (possible resistance, I would want to wait till price breaches that RN, before entering.)
4. If I am not mistaken, your trade triggered just half an hour before major gbp news (manufacturing production) came out. also risky
5. And finally, I believe you have a negative R:R. Your risk is much higher than your potential reward, if I am correct. You want a risk reward ratio of at least 1:1 to your first target and an overall R:R of 1:1.5 with the first and second target together (hope that makes sense)

Good that you took some off before hitting the 1.6250. Second target should be the next round number before hitting the ATR. Overall, good that it worked out, but just a kind of risky trade in my eyes.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: gbpusd w1 13.1.2010.gif Size: 43 KB
Click to Enlarge Name: gbpusd h4 13.1.2010.gif Size: 55 KB
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