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Trend Trading All Pairs

  • #2,961
  • Feb 3, 2010 11:31am Feb 3, 2010 11:31am
Quoting EntropyLad
Nice. Good move.

Funny, before i came here...i used to interact with a group of "traders" who are disdainful, scornful of keeping a trading journal. They also believe in risking 200 pips, 1000pips, 500 pips to make 20 pips. That if you risk a very low, low amount per trade and never worry about it, the losing trade will eventually come back.

That never makes a shred of sense to me. Let just say, l am no longer with them anymore.
Trade journals are an absolute must, there is no way of knowing how your progressing without one. I have photos hyperlinked of each trade so all I have to do is click on the trade symbol in that trade data row and it pulls up the chart. I keep a lot of data on each trade.

You cannot tell where your mistakes are if you do not log them down for review, nor can you tell why the trade worked, there are just so many things that need to be looked at for each trade, and without a log it is impossible to do imo.

--NM
  • #2,962
  • Feb 3, 2010 11:39am Feb 3, 2010 11:39am
Quoting EntropyLad
I first saw it here, nightmoves

http://www.forexfactory.com/showpost...postcount=2797

I like the idea. It got my attention immediately.
I added a currency converter to it yesterday, I need to change it a little so any currency can be used as the base currency. I am also adding some other things to it like like MT4 feeds for pip value and lot size...etc it will be an all in one package when I am done with it.

--NM
Attached Image (click to enlarge)
Click to Enlarge Name: Currency Converter.png Size: 93 KB
  • #2,963
  • Feb 3, 2010 11:40am Feb 3, 2010 11:40am
Quoting NightMoves
I added a currency converter to it yesterday, I need to change it a little so any currency can be used as the base currency. I am also adding some other things to it like like MT4 feeds for pip value and lot size...etc it will be an all in one package when I am done with it.

--NM
You will let us know, wont you? When you are done with it....
  • #2,964
  • Feb 3, 2010 12:03pm Feb 3, 2010 12:03pm
Looks like we have a little sideways action going with EU right now, as soon as london closes its doors for the day...

--NM
  • #2,965
  • Feb 3, 2010 2:05pm Feb 3, 2010 2:05pm
Thought I would post a chart showing the GU pair, seeing as how we were just talking the nice smooth trends that develop there once it gets organized, it is very close the Daily bottom channel, and a break below if it gets there could give some very good shorting opportunities, if it plays out it could be a nice slow ride for a nice large payload!

EDIT...I meant the GU not the EG....my bad! I changed to reflect the correct pair
Attached Image (click to enlarge)
Click to Enlarge Name: GU daily Support and Restsance.png Size: 49 KB
  • #2,966
  • Feb 3, 2010 4:46pm Feb 3, 2010 4:46pm
Quoting EntropyLad
AUD/CAD short triggered. 0.9370. Selling 1/2 at 0.9355. but not moving SL to BE. i will leave SL where it is(there is a potential bounce off 0.9350 area...i want to see if it breaks. the rest of the lot at 0.9310.

The first PT of 1.9355 reached. I dont like the RN at 1.9350, CLOSED out 1/2 in that trade. Let see what the rest will bring.

.
Anyways, after that good whiplash by NZD news(NZD news affect AUD, and vice versa), and now that AUD/CAD is back at 1.9352, i am moving my 2nd SL to BE + 1 = 1.9369. AUD news is coming = in rougly TWO hours. ASIA open will soon rush in, 0.9350 has been particularly stubborn.

two choices: close out now and bank a total of 15 + 15 = 15 pips average. or hold on and risk having only +8 pips average, but a potential, +33 pips gain average. Of course, there is the bloody news coming from AUD.

I will take my chances.
  • #2,967
  • Feb 3, 2010 4:53pm Feb 3, 2010 4:53pm
Just Finished Hecto Trading course and set up my screens with the templates and indicators. I don't tnibk that the dashboard is working. Can some else post theirs so I can compare with mine, or just let me know if what I have podted is what you have Thanks.
Attached Image (click to enlarge)
Click to Enlarge Name: dashboard.gif Size: 14 KB
  • #2,968
  • Feb 3, 2010 5:03pm Feb 3, 2010 5:03pm
Quoting Scratch99
Just Finished Hecto Trading course and set up my screens with the templates and indicators. I don't tnibk that the dashboard is working. Can some else post theirs so I can compare with mine, or just let me know if what I have podted is what you have Thanks.
My DB does fill up using this MT4 platform because I do not have all the pairs in this one. As long as you are getting all the pairs to fill up and it looks like you are, you can compare the CDR and ADR to your charts and see if the numbers match. I do not really use the DB much I find it better to set up the mini screens and use those then I can seee all the pairs at once, I just save all those mini screens as a profile, then I can call that profile back up and then pick the pairs I want to trade. Then switch to my trade profile and then I only see the pairs I picked to trade and no other charts.

Keeps the clutter down somewhat.

--NM
  • #2,969
  • Feb 3, 2010 5:06pm Feb 3, 2010 5:06pm
Quoting EntropyLad
Anyways, after that good whiplash by NZD news(NZD news affect AUD, and vice versa), and now that AUD/CAD is back at 1.9352, i am moving my 2nd SL to BE + 1 = 1.9369. AUD news is coming = in rougly TWO hours. ASIA open will soon rush in, 0.9350 has been particularly stubborn.

two choices: close out now and bank a total of 15 + 15 = 15 pips average. or hold on and risk having only +8 pips average, but a potential, +33 pips gain average. Of course, there is the bloody news coming from AUD.

I will take my chances.
Remember the old saying...There are Old traders, and there are Bold Traders....but there are no Old Bold Traders....

--NM
  • #2,970
  • Feb 3, 2010 5:24pm Feb 3, 2010 5:24pm
Quoting NightMoves
Remember the old saying...There are Old traders, and there are Bold Traders....but there are no Old Bold Traders....

--NM
Remember the old saying....May fortune favours the bold....
  • #2,971
  • Feb 3, 2010 6:34pm Feb 3, 2010 6:34pm
Quoting EntropyLad
Anyways, after that good whiplash by NZD news(NZD news affect AUD, and vice versa), and now that AUD/CAD is back at 1.9352, i am moving my 2nd SL to BE + 1 = 1.9369. AUD news is coming = in rougly TWO hours. ASIA open will soon rush in, 0.9350 has been particularly stubborn.

two choices: close out now and bank a total of 15 + 15 = 15 pips average. or hold on and risk having only +8 pips average, but a potential, +33 pips gain average. Of course, there is the bloody news coming from AUD.

I will take my chances.
0:30am london time. NEWS HIT AND DOWN WE GO! Hurray! (yes, i did adjust my SL for the 3rd time. Didnt feel like coming here every 20minutes and giving updates after updates after updates.)
  • #2,972
  • Feb 3, 2010 7:14pm Feb 3, 2010 7:14pm
Quoting EntropyLad
0:30am london time. NEWS HIT AND DOWN WE GO! Hurray! (yes, i did adjust my SL for the 3rd time. Didnt feel like coming here every 20minutes and giving updates after updates after updates.)
Sounds like it is going well! My second half of the EU trade is also up, I am +66 pips right now, but I expect some retracement soon...

--NM
  • #2,973
  • Feb 3, 2010 7:27pm Feb 3, 2010 7:27pm
Quoting NightMoves
Sounds like it is going well! My second half of the EU trade is also up, I am +66 pips right now, but I expect some retracement soon...

--NM
Yeah, the next catalyst for the EU is during EURO trading time (the bank rate, which i dont want to play). I think i will just closed out early here and bank a 1:2 risk/reward instead of waiting for the 1.3860. I take the whole of london trading session off. I am closing out the AUD/CAD too for a 1: 1.5 risk/reward trade.

I just want to take the rest of the night/day off and enjoy. Come back later at US open trading session tomorrow after the dust has cleared from this GBP and EUR bank rate decisions stuff.

Same here. Done for now.
  • #2,974
  • Feb 3, 2010 7:30pm Feb 3, 2010 7:30pm
FRIDAY IS NON FARM PAYROLL....that should be fun! This saturday is the G7 meetings...could results in GAPs over the weekends....
  • #2,975
  • Feb 3, 2010 7:42pm Feb 3, 2010 7:42pm
Quoting EntropyLad
FRIDAY IS NON FARM PAYROLL....that should be fun! This saturday is the G7 meetings...could results in GAPs over the weekends....
Yeh that NFP is usually a biggy, I am not sure if I am going to let this trade run or not, I guess it depends on where it is by the time I call it a night, if I am up over 70 pips or so I amy leave it alone, and just tighten my stop, but if it is only 40 pips or so I may close it down, otherwise I think the spike alone will be big enough to hit my SL.

So I will play it by ear and see what it looks like, in the mean time while the market is getting to rumble I am going to watch the TAPS team in action, until the market wants to play some more...

--NM
  • #2,976
  • Feb 4, 2010 3:01am Feb 4, 2010 3:01am
damn! GBP/JPY breakout to the downside H4/H1 is solid. nice, nice, all around happening at 8:15am london time too(around LOB) time. although this is a 1, 2, 3 formation tearing down from 144.50 rn...tempting thought:get in at 144.31, sell 1/2 at 144.05 rn and move the rest to BE and ride. But...i cant...Unfortunately, i cannot enter: GBP red-labeled news of MPC meetings and rates....Must ignore all trade signals on MPC rates news day. Otherwise, it is ONE HELL OF A PERFECT 1, 2,3 BPC, formation though for H4/H1 with the breakout right at LOB time(that is just pure sweet icing on the cake)

Was planning to take london session off...but here i am...staring at charts....lol.
  • #2,977
  • Feb 4, 2010 3:09am Feb 4, 2010 3:09am
Quoting NightMoves
Yeh that NFP is usually a biggy, I am not sure if I am going to let this trade run or not, I guess it depends on where it is by the time I call it a night, if I am up over 70 pips or so I amy leave it alone, and just tighten my stop, but if it is only 40 pips or so I may close it down, otherwise I think the spike alone will be big enough to hit my SL.

So I will play it by ear and see what it looks like, in the mean time while the market is getting to rumble I am going to watch the TAPS team in action, until the market wants to play some more......
NICELY PLAYED, nightmoves. presently, EUR/USD at 1.3834. Apparently your judgment on the matter was better than my own. Good work.
  • #2,978
  • Feb 4, 2010 4:32am Feb 4, 2010 4:32am
Quoting EntropyLad
damn! GBP/JPY breakout to the downside H4/H1 is solid. nice, nice, all around happening at 8:15am london time too(around LOB) time. although this is a 1, 2, 3 formation tearing down from 144.50 rn...tempting thought:get in at 144.31, sell 1/2 at 144.05 rn and move the rest to BE and ride. But...i cant...Unfortunately, i cannot enter: GBP red-labeled news of MPC meetings and rates....Must ignore all trade signals on MPC rates news day....
ouch...seems like you missed a nice trade here.
It's my price or no price at all!
  • #2,979
  • Feb 4, 2010 4:32am Feb 4, 2010 4:32am
Quoting EntropyLad
damn! GBP/JPY breakout to the downside H4/H1 is solid. nice, nice, all around happening at 8:15am london time too(around LOB) time. although this is a 1, 2, 3 formation tearing down from 144.50 rn...tempting thought:get in at 144.31, sell 1/2 at 144.05 rn and move the rest to BE and ride. But...i cant...Unfortunately, i cannot enter: GBP red-labeled news of MPC meetings and rates....Must ignore all trade signals on MPC rates news day....
LOB today was ok for me, got 1 on eur/usd +30...

Then I deliberately closed g/j not to be tempted as it has been in a mess for the last week on all TF... Oh well, I will look at it and some others again just after the news...
  • #2,980
  • Feb 4, 2010 5:19am Feb 4, 2010 5:19am
Quoting EntropyLad
NICELY PLAYED, nightmoves. presently, EUR/USD at 1.3834. Apparently your judgment on the matter was better than my own. Good work.
I am still riding the EU, up +90 pips yet, I will just keep watching and hoping for more pippage as the day wears on.

--NM
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