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Trend Trading All Pairs

  • #2,861
  • Feb 2, 2010 8:05am Feb 2, 2010 8:05am
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
Hi EntropyLad,

I can't see your charts either. Nothing showing up. It was the same the other day when you tried to post the USDSGD chart.

Best,
Chris
  • #2,862
  • Feb 2, 2010 8:05am Feb 2, 2010 8:05am
Quoting EntropyLad
Okay, i have attached them again.
You beat me to it! Thanks
  • #2,863
  • Feb 2, 2010 8:07am Feb 2, 2010 8:07am
Quoting Pip Dawg
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.
that's why I like the touch trades. You can set limit orders in advance with stop and targets and don't actually have to watch them. Analysis can be done in your spare-time.

best regards
  • #2,864
  • Feb 2, 2010 8:07am Feb 2, 2010 8:07am
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
What I have noted with Euro / London open is often the charts will move from just before 7:00. I stand to be corrected but in Oct 09 it moved for about 2 weeks at 6:45 every morning.

So I think some judgement is called for on 7:00 / 8:00. I agree, that the b-p-c occurred 7:00-7:15 and off she went...
  • #2,865
  • Feb 2, 2010 8:09am Feb 2, 2010 8:09am
Quoting EntropyLad
Interesting...since the RN is obviously at 1.5900....why not take profit at 1.5910 or 1. 5905 instead of 1.5890(below the RN)?
I give more weight to levels of supply and demand, and that round number had already been tested for support. If it were to be tested again while making a lower swing high, it would have give me confidence that the order flows were behind short positions.
However, I knew the trade wasn't an A+. That is why I waited until it was too much of a bargain to pass on. It is also the reason I aggressively trailed my stop. My stop triggered just above the tweezer tops seen on the 5M chart just above 1.5929.
  • #2,866
  • Feb 2, 2010 8:11am Feb 2, 2010 8:11am
Quoting EntropyLad
Okay, i have attached them again.
OK I see what your talking about now, yes that was a great trade and a perfect LOB, I am using the FXDD MT4 right now and do not have that pair on my platform. I have it on the FXCM and MIG platform but not this one, I use the FXDD platform when I am live trading on the same computer I am running the Trade Station on, because they dont have all the pairs it is not so resource greedy. I am in the lab trading right now otherwise I usually use 2 computers and 3 monitors when I am at my desk.

--NM
  • #2,867
  • Feb 2, 2010 8:39am Feb 2, 2010 8:39am
Quoting Paulette
What I have noted with Euro / London open is often the charts will move from just before 7:00. I stand to be corrected but in Oct 09 it moved for about 2 weeks at 6:45 every morning.

So I think some judgement is called for on 7:00 / 8:00. I agree, that the b-p-c occurred 7:00-7:15 and off she went...

Rules are rules. I stick to 7am to 9am. Rules are rules. I cannot tell you how many times i have seen breakouts before that time frame, but i dont take them. Why? Because i have seen many other cases where there is that breakout before 7am, only to reverse strongly at 7am or 8am london time and head in the opposite direction. And i dont take LOB trades anytime less than 2hrs before a red-labeled news. That is why i passed on a LOB trade in GBP/CAD yesterday. Rules are there for a reason, and there are meant to be followed. There is always another day.

Quoting NightMoves
OK I see what your talking about now, yes that was a great trade and a perfect LOB, I am using the FXDD MT4 right now and do not have that pair on my platform. I have it on the FXCM and MIG platform but not this one, I use the FXDD platform when I am live trading on the same computer I am running the Trade Station on, because they dont have all the pairs it is not so resource greedy. I am in the lab trading right now otherwise I usually use 2 computers and 3 monitors when I am at my desk.

--NM
I know the problem. I use multiple brokers myself. One of them doesnt have the AUD/CHF, CAD/CHF, GBP/AUD, NZD/CHF. As such, i had to use two live accounts to properly cover all the basis. MIG seems to have everything though, except that i only use them for demo.

Quoting finswin56
I give more weight to levels of supply and demand, and that round number had already been tested for support. If it were to be tested again while making a lower swing high, it would have give me confidence that the order flows were behind short positions.
However, I knew the trade wasn't an A+. That is why I waited until it was too much of a bargain to pass on. It is also the reason I aggressively trailed my stop. My stop triggered just above the tweezer tops seen on the 5M chart just above 1.5929.
I see your reasoning.

Quoting Chris P
Hi EntropyLad,

I can't see your charts either. Nothing showing up. It was the same the other day when you tried to post the USDSGD chart.

Best,
Chris
Yeah, the USDSGD. It did setup nicely, smooth setup, nice, 1, 2, 3 formation, 3sma, etc, bpc. Except that the AUD news forced a severe gap, making entry impossible. I have attached the chart below.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: usdsgd h1.gif Size: 33 KB
Click to Enlarge Name: usdsgd 15mins.gif Size: 34 KB
  • #2,868
  • Feb 2, 2010 8:55am Feb 2, 2010 8:55am
Quoting Custos
that's why I like the touch trades. You can set limit orders in advance with stop and targets and don't actually have to watch them. Analysis can be done in your spare-time.

best regards
Custos...where do I go to learn more about the touch trades?
  • #2,869
  • Feb 2, 2010 8:57am Feb 2, 2010 8:57am
Quoting Pip Dawg
Custos...where do I go to learn more about the touch trades?
http://www.forexfactory.com/showthread.php?t=86429

It's a long thread, but I like that technique. But I would use it in conjunction with hector's methodology (always in direction of the trend...)

Takes a while to learn it, but very good R:R.
  • #2,870
  • Feb 2, 2010 8:58am Feb 2, 2010 8:58am
Quoting Pip Dawg
Custos...where do I go to learn more about the touch trades?
Take things one step at a time. Learn the basic first. Then you can worry about touch trades or no-touch trades or side touch trades.

My two cents.

You can learn touch trade here:

http://www.forexfactory.com/showthread.php?t=86429
  • #2,871
  • Feb 2, 2010 9:01am Feb 2, 2010 9:01am
Quoting Custos
http://www.forexfactory.com/showthread.php?t=86429

It's a long thread, but I like that technique. But I would use it in conjunction with hector's methodology (always in direction of the trend...)

Takes a while to learn it, but very good R:R.
Thanks...I will take a look at it.
  • #2,872
  • Feb 2, 2010 9:06am Feb 2, 2010 9:06am
GBP/CAD. M30/5mins.

The 1.6900, a bPC under that...without a solid breach of the 61% fib level, that will be nice.

CHART ATTACHED.
Attached Image (click to enlarge)
Click to Enlarge Name: gbpcad 123.gif Size: 35 KB
  • #2,873
  • Feb 2, 2010 9:17am Feb 2, 2010 9:17am
Quoting EntropyLad
Take things one step at a time. Learn the basic first. Then you can worry about touch trades or no-touch trades or side touch trades.

My two cents.

You can learn touch trade here:

http://www.forexfactory.com/showthread.php?t=86429
I understand what you are saying and I agree. I'm still trying to master Hector's method and will give more time to get a handle on it.

I did great my first week and knocked out a couple 80+ pip trades but this week I've made a couple rookie mistakes.
  • #2,874
  • Feb 2, 2010 9:20am Feb 2, 2010 9:20am
Quoting EntropyLad
GBP/CAD. M30/5mins.

The 1.6900, a bPC under that...without a solid breach of the 61% fib level, that will be nice.

CHART ATTACHED.
Yes it would, what is your spread on the GBPCAD?

--NM
  • #2,875
  • Feb 2, 2010 9:24am Feb 2, 2010 9:24am
Quoting NightMoves
Yes it would, what is your spread on the GBPCAD?

--NM
Currently? this very instant? 3.3 is my spread on the GBP/CAD. Sometimes, it can be slightly lower than that during london trading session.
  • #2,876
  • Feb 2, 2010 9:29am Feb 2, 2010 9:29am
Quoting EntropyLad
Currently? this very instant? 3.3 is my spread on the GBP/CAD. Sometimes, it can be slightly lower than that during london trading session.
LOL Mine 8.9...
  • #2,877
  • Feb 2, 2010 9:44am Feb 2, 2010 9:44am
Here is an idea. These are the two smallest spreads brokerages i have seen so far.

http://fxtrade.oanda.com/forex_tradi...ds/all_spreads

http://www.hotspotfx.com/products/currency.jsp

If anybody personally know brokerages with small, tighter spreads, let us know.
  • #2,878
  • Feb 2, 2010 10:03am Feb 2, 2010 10:03am
Quoting Custos
http://www.forexfactory.com/showthread.php?t=86429

It's a long thread, but I like that technique. But I would use it in conjunction with hector's methodology (always in direction of the trend...)

Takes a while to learn it, but very good R:R.

I just did one of those touch trades stuff. I shorted GBP/CAD at 1.6950. 20pips SL at 1.6970. Sold first 1/2 at 1.6930. Moved the rest to BE. Let see what this baby is made out of, shall we?
Attached Image (click to enlarge)
Click to Enlarge Name: gbpcad touch trade.gif Size: 31 KB
  • #2,879
  • Feb 2, 2010 10:05am Feb 2, 2010 10:05am
Quoting EntropyLad
Here is an idea. These are the two smallest spreads brokerages i have seen so far.

http://fxtrade.oanda.com/forex_tradi...ds/all_spreads

http://www.hotspotfx.com/products/currency.jsp

If anybody personally know brokerages with small, tighter spreads, let us know.
My spread on the GBPCAD goes from 7.1 beiing about the lowest to around 9.2 being the highest...

--NM
Attached Image (click to enlarge)
Click to Enlarge Name: Spreads.png Size: 177 KB
  • #2,880
  • Feb 2, 2010 10:20am Feb 2, 2010 10:20am
Quoting EntropyLad
EUR/NZD. DAILY/H4. with a BPC under the 1.9650 RN. Of course, there is the red-labeled news of Labour cost index coming out for NZD. that needs to be kept an eye on. If it breaks, i expect s/r at 1.9500

Damn! EUR/NZD is not giving me too much of a breathing room. The GAP from yesterday too due to the AUD shock rate announcement. Play at your own risk.

DAILY and H4 chart below.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: eurnzd daily.gif Size: 32 KB
Click to Enlarge Name: eurnzd h4 trigger.gif Size: 35 KB
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