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Trend Trading All Pairs

  • #2,641
  • Jan 27, 2010 8:57am Jan 27, 2010 8:57am
Quoting Paulette
thanks for your input, I stayed out as nothing seemed safe. Just took +20 this morning on aud/usd, then taken out...

Still learning
20 pips is 20 pips it all adds up, good job!!!

--NM
  • #2,642
  • Jan 27, 2010 8:58am Jan 27, 2010 8:58am
Quoting Custos
Hi, attached are two charts, the gbp/jpy h1 and m15.
This is a typical touch trade. By the way, if you are getting sick of my touch trades, just tell me, then I only post hector style trades.

The h1 shows more or less the general S/R level I want a bounce off. Now a zoom into the m15 to find the exact point of my bounce. And here we have such big confluence 50 fib very close, a round number, couldn't get any better than that, entry would have been at 145.5, stop at 145.62. I know, incredibly small stop but, that's a hit or miss kind of trade. First...
I like the touch trades too. I'm a big fan of BRV's method. I just don't have enough time to watch charts anymore, which is kind of important for that.

Interesting spot to short. I would have been looking at the 145.40 level based on the three touches as Support on the 1H. Hell of a trade. I just wish I had been in on it.
  • #2,643
  • Jan 27, 2010 9:07am Jan 27, 2010 9:07am
OK that news did not spark a whole lot of interest the way it seems.

--NM
  • #2,644
  • Jan 27, 2010 9:09am Jan 27, 2010 9:09am
Quoting finswin56
I like the touch trades too. I'm a big fan of BRV's method. I just don't have enough time to watch charts anymore, which is kind of important for that.

Interesting spot to short. I would have been looking at the 145.40 level based on the three touches as Support on the 1H. Hell of a trade. I just wish I had been in on it.
yeah, he is a big hero of mine. I've never thought that it's possible to catch a reversal to the pip (at least not with consistency), but he kind of opened my eyes. But yeah, sometimes it's very difficult to catch the right area. I just like to have a lot of confluence with those touch trades, that's why I picked the area I mentioned.

Why don't you just mark up all S/R levels on the daily charts and set limit orders with stops and targets on the weekend? Then you don't need to sit in front of your pc and still can get in on the action.
  • #2,645
  • Jan 27, 2010 9:37am Jan 27, 2010 9:37am
Quoting Custos
yeah, he is a big hero of mine. I've never thought that it's possible to catch a reversal to the pip (at least not with consistency), but he kind of opened my eyes. But yeah, sometimes it's very difficult to catch the right area. I just like to have a lot of confluence with those touch trades, that's why I picked the area I mentioned.

Why don't you just mark up all S/R levels on the daily charts and set limit orders with stops and targets on the weekend? Then you don't need to sit in front of your pc and still can get in on the action.
Thanks you have just assisted hugely in how to deal with the asian session. in my backtesting things have popped up along the lines of:

1hr / 15min or 4hr /1hr: Conformance = (38% fib, resistance, range high, dynamic area, 00) Result on these 3 pairs (eur/jpy & aud/usd) for the month 600+...

from tonight I will be setting up my demo account trades of asian session.
  • #2,646
  • Jan 27, 2010 9:46am Jan 27, 2010 9:46am
Quoting Paulette
Thanks you have just assisted hugely in how to deal with the asian session. in my backtesting things have popped up along the lines of:

1hr / 15min or 4hr /1hr: Conformance = (38% fib, resistance, range high, dynamic area, 00) Result on these 3 pairs (eur/jpy & aud/usd) for the month 600+...

from tonight I will be setting up my demo account trades of asian session.
no problem, good to hear that I could assist you!
  • #2,647
  • Jan 27, 2010 9:53am Jan 27, 2010 9:53am
Quoting Grit Chomper

Custos interested in your trigger for this. If I follow correctly the set-up is down to experience / gut feel in that you identified an R/N, 50% FIB retracement, previous resistance and based on your experience had a sense that it would reverse at 145.5 level and continue with the H1 SMA down trend?

In this case the trigger was that price got to this level and you took the trade short. So unlike the "classic Hector trades" there wasn't a systematic trigger other than it hit that price point so you went short expecting...
sorry, for some reason I missed your post. yes, I just entered short on the touch without any confirmation, but the logic is not gut feel. Price is doing that all the time: stopping at obvious areas. Just nailing them is a little hard. Just read brv's thread, try the strategy for a few months, (I actually demoed it for 6 months on a 15 min chart until I found that my hit rate was very good and until I got the first target right, cause some of those trades might reverse on you, but if you already took off 50% and moved your stop to break-even you have nothing to lose).
Nowadays I just use it for trend trading scenarios, again, it's about efficiency here. In a trend, price is more likely to move in my direction. But for training that I would recommend taking every signal upside down until you get a 70% to 80% hit rate.

But that takes a while, except you are an instant trading genius.

best regards
  • #2,648
  • Jan 27, 2010 10:38am Jan 27, 2010 10:38am
Quoting Custos
Hi, attached are two charts, the gbp/jpy h1 and m15.
This is a typical touch trade. By the way, if you are getting sick of my touch trades, just tell me, then I only post hector style trades.

The h1 shows more or less the general S/R level I want a bounce off. Now a zoom into the m15 to find the exact point of my bounce. And here we have such big confluence 50 fib very close, a round number, couldn't get any better than that, entry would have been at 145.5, stop at 145.62. I know, incredibly small stop but, that's a hit or miss kind of trade. First...
Is this trade the kind of trade you were talking about here?

http://www.forexfactory.com/showpost...postcount=2446

Oh yeah, good work on the GBP/JPY
  • #2,649
  • Jan 27, 2010 10:43am Jan 27, 2010 10:43am
Quoting EntropyLad
Is this trade the kind of trade you were talking about here?

http://www.forexfactory.com/showpost...postcount=2446

Oh yeah, good work on the GBP/JPY
yeah, that was a kind of variation of a touch trade with the bpc. Cause I think identifying the area for a pullback is sometimes easier than identifying the retracement for a whole swing (even though it's kind of the same).
  • #2,650
  • Jan 27, 2010 10:45am Jan 27, 2010 10:45am
CUSTOS on a roll.

First, he took the "buy one, get one free sales guy" aka maforexcity to the woodshed for some serious beating.

Now, he nailed the gbp/jpy to the pip.

Good stuff...good stuff.
  • #2,651
  • Jan 27, 2010 10:48am Jan 27, 2010 10:48am
Now that the EU has gone back up is the first setup invalid?
  • #2,652
  • Jan 27, 2010 10:52am Jan 27, 2010 10:52am
Quoting EntropyLad
CUSTOS on a roll.

First, he took the "buy one, get one free sales guy" aka maforexcity to the woodshed for some serious beating.

Now, he nailed the gbp/jpy to the pip.

Good stuff...good stuff.
haha, thanks, you are funny. yeah, I try to keep up with my recent performance, but recently I just have a really good run
Actually I took an advice from a guy in the market wizard book: to treat myself as well like a trend. If I am in a good run, I will increase my lot-sizes to max, and on other days will just reduce it to very low amounts.
  • #2,653
  • Jan 27, 2010 10:56am Jan 27, 2010 10:56am
Quoting Scratch99
Now that the EU has gone back up is the first setup invalid?
we still have a setup. I see it as a range (you could also see it as a triangle I suppose). Wait for a break below and a bpc off it, then enter.

attached i EU h4 chart (setup chart)
Attached Image (click to enlarge)
Click to Enlarge Name: eurusd h4 27.1.2010.gif Size: 59 KB
  • #2,654
  • Jan 27, 2010 11:04am Jan 27, 2010 11:04am
Quoting Custos
haha, thanks, you are funny. yeah, I try to keep up with my recent performance, but recently I just have a really good run
Actually I took an advice from a guy in the market wizard book: to treat myself as well like a trend. If I am in a good run, I will increase my lot-sizes to max, and on other days will just reduce it to very low amounts.
All three books of The Market Wizards by Jack D Schwager and Reminiscence of a stock operator by edwin lefevre.

My two favourite set of books.

Hey, custos, i can understand the modesty, but let's face it, you just told Gbp/JPY and the "buy one, get one free sales guy" aka maforexcity these Four immortal words: WHO IS YOUR DADDY?

hehehe.
  • #2,655
  • Jan 27, 2010 11:07am Jan 27, 2010 11:07am
Quoting Chris P
Possible setup forming for tomorrow...

EURNZD swinging on the daily.

Confluence factors:
38.2% fib from large move down
61.8% fib from recent swing
2.0000 BIG round number
Area between 30 and 50 sma

4H chart:
1-2-3 formation
Break of retracement trendline
Wait for confirmation of BPC...
Thanks, CHRISP. Filed and noted. NZD has rate announcement today...so, yeah, i will need to wait till much later for this. Thanks for the notice.

keep up the good work.
  • #2,656
  • Jan 27, 2010 11:08am Jan 27, 2010 11:08am
Quoting Custos
we still have a setup. I see it as a range (you could also see it as a triangle I suppose). Wait for a break below and a bpc off it, then enter.

attached i EU h4 chart (setup chart)
Yeah that silly pair has not done much since my earlier post, its just kind of stting there not knowing which way to go.

--NM
  • #2,657
  • Jan 27, 2010 11:13am Jan 27, 2010 11:13am
Quoting EntropyLad
All three books of The Market Wizards by Jack D Schwager and Reminiscence of a stock operator by edwin lefevre.

My two favourite set of books.

Hey, custos, i can understand the modesty, but let's face it, you just told Gbp/JPY and the "buy one, get one free sales guy" aka maforexcity these Four immortal words: WHO IS YOUR DADDY?

hehehe.
haha, good one
  • #2,658
  • Jan 27, 2010 11:13am Jan 27, 2010 11:13am
Quoting NightMoves
Yeah that silly pair has not done much since my earlier post, its just kind of stting there not knowing which way to go.

--NM
yeah, but I am sure it will react one way or another within this week.
  • #2,659
  • Jan 27, 2010 11:21am Jan 27, 2010 11:21am
Quoting Custos
haha, good one
Was that guy that was advertising trying to sell something?

--NM
  • #2,660
  • Jan 27, 2010 11:22am Jan 27, 2010 11:22am
Quoting NightMoves
Yeah that silly pair has not done much since my earlier post, its just kind of stting there not knowing which way to go.

--NM
I know. Imagine if you are only trading that one pair? The temptation to just take a trade, any trade...will just get exponentially higher. I never understand one pair trading...if a method is robust, it should apply to all of them.

My two cents.
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