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Trend Trading All Pairs

  • #2,841
  • Feb 2, 2010 6:19am Feb 2, 2010 6:19am
Quoting EntropyLad
No. For me it was the GBP/CAD short. LOB, of course
Did you play a pure break of the support rather than wait for a BPC?
  • #2,842
  • Feb 2, 2010 6:32am Feb 2, 2010 6:32am
Quoting Chris P
Did you play a pure break of the support rather than wait for a BPC?
Looks like a pure "support break x LOB"

Nice 100pip move, well spotted and well done on taking it
  • #2,843
  • Feb 2, 2010 6:33am Feb 2, 2010 6:33am
Quoting Paulette
Hi all

2 trades for me in a very quite market, unfortunately I had to go out and just set small limits of 20 each (in hindsight just as well);

GBP/USD 15945 +20
EUR/CAD 14767 +20 - my broker has this spread as 10, not worth a live trade I dont think, Hector & NM recommends lower spreads, but as nothing was happening, I thought hmmm - just for the exercise;

Was also looking at CHF/JPY 4hr/1hr combination - but it bounced up again

In hind sight, GBP/USD trade was this morning @8:00 /LOB 1hr/15min - entry just below 15950 +40 pips

Still 7trading...
HI People,
I was just looking at the GU pair after reading through the posts, and I thought I had missed something, I personally dont think I would take any more short entries on this pair right now unless it breaks out of the lower channel TL, it has been ranging on the weekly and daily charts for some time and it is right at the lower channel and has not broke through it yet.

So be very careful when trading short positions on this.

--NM
Attached Image (click to enlarge)
Click to Enlarge Name: daily S_R GU.png Size: 52 KB
  • #2,844
  • Feb 2, 2010 6:51am Feb 2, 2010 6:51am
The USDCHF pair is in a similar setup as the G/U pair, but this pair is very close to the upper channel line. Long entries need to be with caution if at all.

--NM
Attached Image (click to enlarge)
Click to Enlarge Name: Daily S_R levels.png Size: 47 KB
  • #2,845
  • Feb 2, 2010 6:57am Feb 2, 2010 6:57am
I don't know about you guys but I don't see anything setting up.

How will I pay for my Brazilian beach house like this?
  • #2,846
  • Feb 2, 2010 7:01am Feb 2, 2010 7:01am
Quoting Pip Dawg
I don't know about you guys but I don't see anything setting up.

How will I pay for my Brazilian beach house like this?
I was thinking that same thing, I only have one Beach House, I dont have a Brazilian of them, I would not know where to put that many of them....

--NM
  • #2,847
  • Feb 2, 2010 7:04am Feb 2, 2010 7:04am
Quoting NightMoves
I was thinking that same thing, I only have one Beach House, I dont have a Brazilian of them, I would not know where to put that many of them....

--NM
LOL....at this rate I won't have one much less a Brazilian of them.
  • #2,848
  • Feb 2, 2010 7:15am Feb 2, 2010 7:15am
Quoting Pip Dawg
LOL....at this rate I won't have one much less a Brazilian of them.
I hear ya, there is not a lot of good setups at the moment, low risks trades are certainly a waiting game at times. And at other times the setups are popping up all over the place.

--NM
  • #2,849
  • Feb 2, 2010 7:22am Feb 2, 2010 7:22am
Quoting NightMoves
I hear ya, there is not a lot of good setups at the moment, low risks trades are certainly a waiting game at times. And at other times the setups are popping up all over the place.

--NM
NM

you give me some hope, my other fav chart EUR/JPY also seems in a "quite space" at the moment:

On weekly I see a support line: Feb 09 which it seems to have bounced off this week, having just broken out of the weekly range above that;

Daily - since 27 Jan 10 ranging between 12650 and 12500 with some bullish bias last 2 days

Question: do you trade LOB's?
  • #2,850
  • Feb 2, 2010 7:23am Feb 2, 2010 7:23am
Quoting NightMoves
I hear ya, there is not a lot of good setups at the moment, low risks trades are certainly a waiting game at times. And at other times the setups are popping up all over the place.

--NM
Just wondering if it's possible to trade with Hector when you have to work for a living. Can you put stops and limits safely? I'm in gmt -6 and work from 5 am to 2pm and then crash at 8pm. Not to many occasions to trade live in a good time slot.
  • #2,851
  • Feb 2, 2010 7:32am Feb 2, 2010 7:32am
Quoting Paulette
NM

you give me some hope, my other fav chart EUR/JPY also seems in a "quite space" at the moment:

On weekly I see a support line: Feb 09 which it seems to have bounced off this week, having just broken out of the weekly range above that;

Daily - since 27 Jan 10 ranging between 12650 and 12500 with some bullish bias last 2 days

Question: do you trade LOB's?
I see what you are looking at on the EJ and you are correct it is in a very interesting spot. I have been waiting for a good break to the down side on that pair but is has some brush to clear, so we may be waiting a little on that one.

I do trade the LOB when I am up, for me that would be around 3:AM or so. Unless it looks like a big move I wont get up for that, but if the move looks like it could be big, then I will get up and slam some coffee and wait it out.

--NM
  • #2,852
  • Feb 2, 2010 7:38am Feb 2, 2010 7:38am
Quoting Scratch99
Just wondering if it's possible to trade with Hector when you have to work for a living. Can you put stops and limits safely? I'm in gmt -6 and work from 5 am to 2pm and then crash at 8pm. Not to many occasions to trade live in a good time slot.
I see what your saying, you can trade the larger TF, which means larger stop losses, or you could trade the Asian session, lately most of my trading has been during the Asian session, you need to trade their currencies for a better low risk trades imo.

You can always place entry orders too, I do not trade with entry orders, but I guess if the setup is there it would be no difference from pulling the trigger live or waiting for the price to get to the order and triggering it that way.

You should try that on a Demo account and see if that works for you.

--NM
  • #2,853
  • Feb 2, 2010 7:41am Feb 2, 2010 7:41am
Quoting Scratch99
Just wondering if it's possible to trade with Hector when you have to work for a living. Can you put stops and limits safely? I'm in gmt -6 and work from 5 am to 2pm and then crash at 8pm. Not to many occasions to trade live in a good time slot.
I also am GMT-6 so I do know what your saying....

--NM
  • #2,854
  • Feb 2, 2010 7:50am Feb 2, 2010 7:50am
Quoting NightMoves
I see what you are looking at on the EJ and you are correct it is in a very interesting spot. I have been waiting for a good break to the down side on that pair but is has some brush to clear, so we may be waiting a little on that one.

I do trade the LOB when I am up, for me that would be around 3:AM or so. Unless it looks like a big move I wont get up for that, but if the move looks like it could be big, then I will get up and slam some coffee and wait it out.

--NM
I understand, Asian session is in small hours of the nite for me, I thus try to just stick to London / NY sessions.

I am looking at combining 2 strategies for LOB (Hectors LOB + something from pipschool ) and then Swing & Price Action with Hector.

This should give me a good base to start off.
  • #2,855
  • Feb 2, 2010 7:54am Feb 2, 2010 7:54am
Quoting Chris P
Did you play a pure break of the support rather than wait for a BPC?
For GBP/CAD. There was a clear BPC. As clear as day. Always wait for the BPC. The setup chart is the 1hr, the trigger chart is 15mins. I have attached them below. It is one of the most flawless, perfect setup of LOB i have seen in a while.

the 1HR SETUP CHART:

http://www.forexfactory.com/attachme...1&d=1265118739

THE 15MINS TRIGGER CHART:

http://www.forexfactory.com/attachme...1&d=1265118739
  • #2,856
  • Feb 2, 2010 7:58am Feb 2, 2010 7:58am
Quoting Paulette
I understand, Asian session is in small hours of the nite for me, I thus try to just stick to London / NY sessions.

I am looking at combining 2 strategies for LOB (Hectors LOB + something from pipschool ) and then Swing & Price Action with Hector.

This should give me a good base to start off.
Yep I agree, there are so many different ways to trade this market, but one thing I have found over the years of trading, is the lowest risk trades with the highest probablility are always with the trend, I have tried many different methods and styles and I always log my trades not only on paper but I keep images of the trades as well, and I have found the best setups are in the trends they offer the lowest risk and highes pobability of winning, as long as it is a tame trend, a wild trend imo is risky.

--NM
  • #2,857
  • Feb 2, 2010 7:59am Feb 2, 2010 7:59am
Quoting EntropyLad
For GBP/CAD. There was a clear BPC. As clear as day. Always wait for the BPC. The setup chart is the 1hr, the trigger chart is 15mins. I have attached them below. It is one of the most flawless, perfect setup of LOB i have seen in a while.

the 1HR SETUP CHART:

http://www.forexfactory.com/attachme...1&d=1265118739

THE 15MINS TRIGGER CHART:

http://www.forexfactory.com/attachme...1&d=1265118739
For some reason I am not seeing your charts....

--NM
  • #2,858
  • Feb 2, 2010 8:01am Feb 2, 2010 8:01am
Quoting Scratch99
Just wondering if it's possible to trade with Hector when you have to work for a living. Can you put stops and limits safely? I'm in gmt -6 and work from 5 am to 2pm and then crash at 8pm. Not to many occasions to trade live in a good time slot.
Scratch...

I'm in a similar boat...I work from 7:30-4:00. Trading the London open means getting up at 2 or 3 in the morning. You might be able to get away with that sometimes.

I can pull off some trades at work when I have down time but mostly what I've been doing is waiting for the set up on the longer time frame and place my buy/sell stops and check in on it once in a while. I actually kind of like it because sitting and watching the screen will sometimes drive you crazy.
  • #2,859
  • Feb 2, 2010 8:01am Feb 2, 2010 8:01am
Quoting NightMoves
Yep I agree, there are so many different ways to trade this market, but one thing I have found over the years of trading, is the lowest risk trades with the highest probablility are always with the trend, I have tried many different methods and styles and I always log my trades not only on paper but I keep images of the trades as well, and I have found the best setups are in the trends they offer the lowest risk and highes pobability of winning, as long as it is a tame trend, a wild trend imo is risky.

--NM
I couldnt agree more. We all have the battle scars to prove it. I just want easy money, bloke. Not interested in hi-jinks rocket science.
  • #2,860
  • Feb 2, 2010 8:03am Feb 2, 2010 8:03am
Quoting NightMoves
For some reason I am not seeing your charts....

--NM
Okay, i have attached them again.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: gbpcad 1hr lob.gif Size: 50 KB
Click to Enlarge Name: gbpcad 15mins trigger chart lob.gif Size: 39 KB
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