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Trend Trading All Pairs

  • #2,521
  • Jan 26, 2010 2:38am Jan 26, 2010 2:38am
Quoting Custos
Crappy day to trade, eur/usd disappointed me that it went in the asian session. That happens maybe once every month that this pair already goes in that session, damn it. Okay, now waiting for a retracement back to the area 1.4125 (h1 chart).
I took out some pips on gbp/cad with a touch trade, entry 1.7203, exit 1.7220 and now waiting for it to hit my second target at 1.7245.
And one setup I am seeing right now develop is eur/aud h4 breakout trade, but the ATR is already pretty streched, so not sure if I would enter with no more ATR to push it.

do...
gbp/cad gave another opportunity to profit. Attached is the 5 min chart with a bpc.
Attached Image (click to enlarge)
Click to Enlarge Name: gbpcad m5 26.1.2010.gif Size: 49 KB
  • #2,522
  • Jan 26, 2010 4:53am Jan 26, 2010 4:53am
Quoting Paulette
Hi NightMoves and Co,

I now have the dashboard functional and am happy that I identified the right pairs yesterday, although I did not trade any of them.

Question: does it often happen that the dashboard does not show trending pairs/TF's while on chart you can clearly see the start of the trend?

How do you deal with these, does the dashboard get priority or chart visual in selecting possible charts to trade? Then still to be followed by analysis for trade of course.

Your input is appreciated
Paulette
Hi Paulette:

The dashboard uses some heavy computation and is CPU intensive. It is only refreshed at the time frame of the underlying chart. So if you drop it on a 4 hr. chart - it will update every 4 hrs.

We only trade down to a 30 min. chart so placing it on a 15 min. chart could reduce some CPU rather than putting it on a 5 min. chart.

Regards,
JS
  • #2,523
  • Jan 26, 2010 4:59am Jan 26, 2010 4:59am
I am in another touch trade in direction of the trend. Attached is the gbp/aud h1 chart (setup chart), stop already at breakeven, took 50% already off at first target, now it's a risk free trade, waiting for another leg up. By the way, a really nice pin bar formed now, but not gonna take that one, since it's late in the session.

best regards
Attached Image (click to enlarge)
Click to Enlarge Name: gbpaud h1 26.1.2010.gif Size: 60 KB
  • #2,524
  • Jan 26, 2010 1:16pm Jan 26, 2010 1:16pm
Custos,

How far back did you you let this go for your "touch"? The support from the middle of the last minor swing along with the Fibonacci from the major swing?

You don't show it on your posted chart but it also looks like a trendline along that upswing leg would also intersect in the same area.

Currently going through Hector's course. Just curious if my analysis is close.

PippyD
  • #2,525
  • Jan 26, 2010 1:59pm Jan 26, 2010 1:59pm
I understand hector position with regards to trading outside certain time sessions.

Given your personal experience, have you notice any effect on trigger chart H1, H4, DAILY when you trade outside of 12pm london time? Or before 7am london time?

I am begining to suspect that rule applies more to trigger chart 15mins and 5mins than trigger chart H1 and above. Want to know if anybody have the same experience.

Thanks for any response.

P.S: Good work, custos.
  • #2,526
  • Jan 26, 2010 2:06pm Jan 26, 2010 2:06pm
Quoting EntropyLad
I understand hector position with regards to trading outside certain time sessions.

Given your personal experience, have you notice any effect on trigger chart H1, H4, DAILY when you trade outside of 12pm london time? Or before 7am london time?

I am begining to suspect that rule applies more to trigger chart 15mins and 5mins than trigger chart H1 and above. Want to know if anybody have the same experience.

Thanks for any response.

P.S: Good work, custos.
honestly, I've experienced so many trades turn upside down outside "opening" hours that I don't like to trade longer than 3 or 4 hours into a session. But of course some will for sure work out. As with anything, there is a trade-off, trading quantity vs. trading quality. I won't take as many trades, but my win-loss ratio will be much higher (thus I can increase my lot-size). It's just more efficient.
And that also applies to the h1 as a trigger chart. A lot of bpc I've taken during off-peak hours just turned around, cause the next session just brings price back to stop loss levels. Problem is the volume, if you have no volume behind your entry, it could fail.
just my opinion.
  • #2,527
  • Jan 26, 2010 2:08pm Jan 26, 2010 2:08pm
Quoting Custos
honestly, I've experienced so many trades turn upside down outside "opening" hours that I don't like to trade longer than 3 or 4 hours into a session. But of course some will for sure work out. As with anything, there is a trade-off, trading quantity vs. trading quality. I won't take as many trades, but my win-loss ratio will be much higher (thus I can increase my lot-size). It's just more efficient.
And that also applies to the h1 as a trigger chart. A lot of bpc I've taken during off-peak hours just turned around, cause the next session just...
Also when h4 is my trigger chart, even there I look that it triggers in the right session and within the first 4 hours of the session, but I am ultra conservative, when it comes to timing.
for the daily it doesn't matter, I just wouldn't enter a trade on fridays, when daily and as well the h4 is the trigger chart. (profit takings)
  • #2,528
  • Jan 26, 2010 2:11pm Jan 26, 2010 2:11pm
by the way, I am in a new touch trade on gbp/aud. Already hit my first target, took off 50%, stop to b/e. I like those trades, almost no drawdown or instant hit of stop loss.

attached is the gbp/aud m15
Attached Image (click to enlarge)
Click to Enlarge Name: gbpaud m15 26.1.2010.gif Size: 47 KB
  • #2,529
  • Jan 26, 2010 2:24pm Jan 26, 2010 2:24pm
Quoting PippyD
Custos,

How far back did you you let this go for your "touch"? The support from the middle of the last minor swing along with the Fibonacci from the major swing?

You don't show it on your posted chart but it also looks like a trendline along that upswing leg would also intersect in the same area.

Currently going through Hector's course. Just curious if my analysis is close.

PippyD
well, these touch trades are based on actually a different kind of strategy. You can read about this strategy in the "no brainer trades" thread. http://www.forexfactory.com/showthread.php?t=86429.
But I only use it in a very conservative way, always in direction of the trend, in combination with fibonacci levels and I would like to see a trend-line somewhere near those S/R levels.
But I really gotta say, determining those kind of S/R levels for touch trades requires a lot of skill, I couldn't do it the first 6 months. And I still make some mistakes on determining the right ones. But the risk reward is just tremendous, so it pays off.
But they are sometimes a little different from hector's S/R levels.

I hope that helps and doesn't add to any confusion.
  • #2,530
  • Jan 26, 2010 2:26pm Jan 26, 2010 2:26pm
Nightmoves are you watching the EURUSD setup on the Daily TF?

This is why I see EURUSD going to 1.3890.
Attached Image (click to enlarge)
Click to Enlarge Name: EURUSD1.3890.jpg Size: 99 KB
  • #2,531
  • Jan 26, 2010 2:32pm Jan 26, 2010 2:32pm
hi every body
the lines show where you should enter the market
Attached Image(s) (click to enlarge)
Click to Enlarge Name: audusd.gif Size: 13 KB
Click to Enlarge Name: euryen.gif Size: 13 KB
  • #2,532
  • Jan 26, 2010 2:36pm Jan 26, 2010 2:36pm
Quoting Maforexcity
hi every body
the lines show where you should enter the market
okay, you advertised your page now 3 times on this thread, I think it is enough now.
  • #2,533
  • Jan 26, 2010 2:38pm Jan 26, 2010 2:38pm
Quoting maforexcity
hi every body
the lines show where you should enter the market
where can i get those lines?
  • #2,534
  • Jan 26, 2010 2:43pm Jan 26, 2010 2:43pm
Quoting kingrex
Nightmoves are you watching the EURUSD setup on the Daily TF?

This is why I see EURUSD going to 1.3890.
I think the eur/usd had a good setup on the h4. But I was sleeping when it triggered, and it triggered outside london session. That's the price for waiting to get the best possible setups.
But nonetheless, would have been a good trade.
Attached is h4 setup chart and h1 trigger chart.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: eurusd h4 26.1.2010.gif Size: 61 KB
Click to Enlarge Name: eurusd h1 26.1.2010.gif Size: 60 KB
  • #2,535
  • Jan 26, 2010 2:48pm Jan 26, 2010 2:48pm
Quoting Custos
okay, you advertised your page now 3 times on this thread, I think it is enough now.
hi
sorry. but i just put the analyze, i thought it could be useful
and if you follow the result of the last analayse which i put in thread you will be agree with my idea
  • #2,536
  • Jan 26, 2010 2:50pm Jan 26, 2010 2:50pm
Quoting Maforexcity
hi
sorry. but i just put the analyze, i thought it could be useful
and if you follow the result of the last analayse which i put in thread you will be agree with my idea
well, it just sounded like you wanna sell something, as long as you just wanna help it's fine.
  • #2,537
  • Jan 26, 2010 3:54pm Jan 26, 2010 3:54pm
Quoting kingrex
Nightmoves are you watching the EURUSD setup on the Daily TF?

This is why I see EURUSD going to 1.3890.
Yes I am, I am waiting for a break of that level then I think we could score some really nice short pips. My computer went down this morning so I had to perform emergency surgery to get it back up and running, and I just got it back up and going, my wireless card is not performing too well, it is really noisy so I will need to change it out but for now it it is back up and running.

--NM
  • #2,538
  • Jan 26, 2010 4:12pm Jan 26, 2010 4:12pm
Quoting Maforexcity
hi
sorry. but i just put the analyze, i thought it could be useful
and if you follow the result of the last analayse which i put in thread you will be agree with my idea
Maforexcity,
I do not mind you posting your charts and ideas, BUT if you are going to be giving advice on how and when to enter, you really need to also explain why, you enter where you do and exit where you do. You may have a good method, I do not know, I do know you need to give an explanation as to why those are the entry and exits, this forum is full of traders giving advice that have no idea why they enter when they do other than the fact a mechanical system plotted a line on their charts and the line says buy or exit.

So you are welcome to post your charts but an explanation is also needed, no one on this thread is just blindly going to follow the advice of anyone without some kind of logical reasoning behind the trade. And in my opinion a plotted line that says buy is just not enough reasoning for me to take a trade.

--NM
  • #2,539
  • Jan 26, 2010 4:13pm Jan 26, 2010 4:13pm
Thanks Custos. No confusion. Appreciate the clarification.
  • #2,540
  • Jan 26, 2010 4:24pm Jan 26, 2010 4:24pm
nzdusd is getting ready for another leg down. Attached is the nzd/usd h1 chart.
Also I think we could get a fabulous touch trade on eur/jpy. The area 126.8 to 127 is I think a really strong resistance (just look at the weekly), I am gonna risk it and put a small trade on when and if price reaches that level. (with stop at around 127.10)
Attached Image(s) (click to enlarge)
Click to Enlarge Name: nzdusd h1 26.1.2010.gif Size: 39 KB
Click to Enlarge Name: eurjpy h1 26.1.2010.gif Size: 46 KB
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