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Trend Trading All Pairs

  • #3,101
  • Feb 4, 2010 6:29pm Feb 4, 2010 6:29pm
Quoting Pip Dawg
I appreciate that. I did pick the points but I have to admit that I feel there was a bit of luck involved in that one but nonetheless I will take it and keep looking for the setups.
Well you can call it what ever you like but you will find out the more you practice and use this method the luckier you get...

--NM
  • #3,102
  • Feb 4, 2010 6:30pm Feb 4, 2010 6:30pm
Quoting Pip Dawg
I don't mean any offense but a man with a golden commode could certainly afford a better looking maid. Perhaps I can loan you mine from my Brazilian beach house.
Why do think I keep it in the bathroom????

--NM
  • #3,103
  • Feb 4, 2010 6:45pm Feb 4, 2010 6:45pm
I re-did my mistakes and errors chart, anything I can do to keep from making the same mistakes...

--NM
Attached Image (click to enlarge)
Click to Enlarge Name: Errors chart.png Size: 87 KB
  • #3,104
  • Feb 4, 2010 7:18pm Feb 4, 2010 7:18pm
Quoting NightMoves
I re-did my mistakes and errors chart, anything I can do to keep from making the same mistakes...

--NM
It looks like you only have a total of 2 mistakes so I think it must be working.
  • #3,105
  • Feb 4, 2010 7:18pm Feb 4, 2010 7:18pm
I have just gotten through chapter 1 of hector course..Its the best course I stumble upon because he shows u step by step real time price action. (Though he does tend to rant the same thing over and over) Riding down the GBPJPY on the H4 chart for the past 2 days.. Really perfect trade yesterday. But it looks like I need to stay of the JPY crosses for a while.. the trend is uncertain now. Eyeing USDCHF H4 chart now.. any comments? Thanks.
  • #3,106
  • Feb 4, 2010 7:30pm Feb 4, 2010 7:30pm
Quoting Pip Dawg
It looks like you only have a total of 2 mistakes so I think it must be working.
Yeh right ...LOL I have not adapted this yet completely to my live account I am still adding some things, but I think I am just about done with it, I need to add the time of the trade to the data review module yet but other wise it is going to be quite an informative journal. I have it downloading the economic calendar now, and I added a currency converter that updates from MSN money every 30 minutes, I still need to code it so any currency can be used as the base currency, and I am going to add the lots/trade module that updates continuously from MT4 and based on pip value you can determine how many lots you can trade according to your account size and risk MM rules.

So a few more things to add and then I am done playing with it...lol

--NM
  • #3,107
  • Feb 4, 2010 7:32pm Feb 4, 2010 7:32pm
Quoting iezzzwan
I have just gotten through chapter 1 of hector course..Its the best course I stumble upon because he shows u step by step real time price action. (Though he does tend to rant the same thing over and over) Riding down the GBPJPY on the H4 chart for the past 2 days.. Really perfect trade yesterday. But it looks like I need to stay of the JPY crosses for a while.. the trend is uncertain now. Eyeing USDCHF H4 chart now.. any comments? Thanks.
HI iezzzwan;
I think most of those pairs that dropped like rocks today need some retracement to be safe trades, the GBPJPY has retraced to the 38fib so maybe that is getting ready to go again.

--NM
  • #3,108
  • Feb 4, 2010 7:38pm Feb 4, 2010 7:38pm
Quoting Pip Dawg
It looks like you only have a total of 2 mistakes so I think it must be working.
Here is the chart for us Pip Dawg seeing as how we have a brazillian beach houses...

--NM
Attached Image (click to enlarge)
Click to Enlarge Name: Errors chart with beers.png Size: 89 KB
  • #3,109
  • Feb 4, 2010 7:38pm Feb 4, 2010 7:38pm
Quoting iezzzwan
I have just gotten through chapter 1 of hector course..Its the best course I stumble upon because he shows u step by step real time price action. (Though he does tend to rant the same thing over and over) Riding down the GBPJPY on the H4 chart for the past 2 days.. Really perfect trade yesterday. But it looks like I need to stay of the JPY crosses for a while.. the trend is uncertain now. Eyeing USDCHF H4 chart now.. any comments? Thanks.
Em since I bought the online course and not the DVD unless there were new strategies on counter trend.. isn't USD/CHF far from dynamic area?

I think Hector's course is the best I've seen so far, but anyone is able to trade full time with his strategy, considering market trend only 20% of the time?
  • #3,110
  • Feb 4, 2010 7:46pm Feb 4, 2010 7:46pm
holy smoke! eur/usd now at 1.3670? WTF? Sweet mary mother of joseph!

It is almost acting as if this were oct 2008.
  • #3,111
  • Feb 4, 2010 7:52pm Feb 4, 2010 7:52pm
Quoting hytten
Em since I bought the online course and not the DVD unless there were new strategies on counter trend.. isn't USD/CHF far from dynamic area?

I think Hector's course is the best I've seen so far, but anyone is able to trade full time with his strategy, considering market trend only 20% of the time?
Thats a valid trendline right..?

If I am looking for trade opening I would be focusing on USDCHF M15 chart.. The trigger chart is M5..forming what seems to be a triangle.

To answer ur question..though i am still new. My strategy is to 3 good systems; when market is trending up, trending down and going sideways. So far, this system is the best i seen for trending down.
  • #3,112
  • Feb 4, 2010 7:52pm Feb 4, 2010 7:52pm
Quoting hytten
Em since I bought the online course and not the DVD unless there were new strategies on counter trend.. isn't USD/CHF far from dynamic area?

I think Hector's course is the best I've seen so far, but anyone is able to trade full time with his strategy, considering market trend only 20% of the time?
Hello hytten,
I would have to say this market has been trending a lot lately, as far as trading fulltime, if you have the time to catch all the trends during the sessions, I am sure you could, but it takes a lot of work and screen time to get used to trading this way. All it takes really is good trend a week to make a good living in this market. USe your alarms to set the price levels you are looking for an entry at, and you will catch 90% of the moves.

Allbeit the best moves are ususally during the London session on most of the currencies, over tha last couple of weeks we have had some very good moves during the Asain session.

If you note your long term S/R levels and find a good entry into the trend there is no reason you could not let the trend run the course and just ride it as far as you can ride it.

How you set your targets is really up to you, sometimes we target a few days out and other times we close the trade the same day.

--NM
  • #3,113
  • Feb 4, 2010 7:56pm Feb 4, 2010 7:56pm
Quoting EntropyLad
holy smoke! eur/usd now at 1.3670? WTF? Sweet mary mother of joseph!

It is almost acting as if this were oct 2008.
I dont think there is going to be much of a let up in this down trend unless the NFP comes out just horrific and I am sure it is not going to be good, I just do not think it is going to effect this very much imo.

--NM
  • #3,114
  • Feb 4, 2010 7:58pm Feb 4, 2010 7:58pm
Quoting hytten
Em since I bought the online course and not the DVD unless there were new strategies on counter trend.. isn't USD/CHF far from dynamic area?

I think Hector's course is the best I've seen so far, but anyone is able to trade full time with his strategy, considering market trend only 20% of the time?

Please, show me the data that forex market trends 20% of the time. You have to catalog the data across time frames and basket of currency pairs/crosses.

Firstly, you have m30, h1, h4, d1, m1 to choose from, secondly, on top of that, you have a permutative basket of AUD, NZD, USD, CAD, JPY, GBP, EUR, CHF, currency combinations. That should give you what? 28 possibilities? IT IS ABSOLUTELY IMPOSSIBLE FOR ONE OF THIS NOT TO BE TRENDING AT ONE TIME OR THE OTHER. For the simple fact that various countries around the world have differing economies.
In fact, i want to see a time, anytime, when at least, one combination of any of those 8 currencies is not trending in at least, one time frame between M30 and WEEKLY. It doesnt exist. Problem solved.
  • #3,115
  • Feb 4, 2010 8:08pm Feb 4, 2010 8:08pm
Quoting iezzzwan
Thats a valid trendline right..?

If I am looking for trade opening I would be focusing on USDCHF M15 chart.. The trigger chart is M5..forming what seems to be a triangle.

To answer ur question..though i am still new. My strategy is to 3 good systems; when market is trending up, trending down and going sideways. So far, this system is the best i seen for trending down.
Make sure you always look at the longer time frames, the CHFJPY has broken the weekly top channel line, so I would want price to go above the high above that channel before I took an entry in it, it could pull back down into that channel.

--NM
Attached Image (click to enlarge)
Click to Enlarge Name: Weekly top channel 15 min.png Size: 48 KB
  • #3,116
  • Feb 4, 2010 8:09pm Feb 4, 2010 8:09pm
Quoting EntropyLad
Please, show me the data that forex market trends 20% of the time. You have to catalog the data across time frames and basket of currency pairs/crosses.

Firstly, you have m30, h1, h4, d1, m1 to choose from, secondly, on top of that, you have a permutative basket of AUD, NZD, USD, CAD, JPY, GBP, EUR, CHF, currency combinations. That should give you what? 28 possibilities? IT IS ABSOLUTELY IMPOSSIBLE FOR ONE OF THIS NOT TO BE TRENDING AT ONE TIME OR THE OTHER. For the simple fact that various countries around the world have differing economies.
In...
I followed Hector's youtube clips.. There are times he can't even find a trade 2 to 3 weeks, that is almost half to 3/4 of the month.. Perhaps he was looking at higher time frame hence no trade.

Are you making enough to trade fulltime yet?
  • #3,117
  • Feb 4, 2010 8:13pm Feb 4, 2010 8:13pm
Quoting hytten
I followed Hector's youtube clips.. There are times he can't even find a trade 2 to 3 weeks, that is almost half to 3/4 of the month.. Perhaps he was looking at higher time frame hence no trade.

Are you making enough to trade fulltime yet?
I just got started with this method. Just left college. No, i am not trading fulltime yet, but i get more trades than i know what to do with because i trade all trading sessions(ny, london, asian).

Yes, hector sometimes go 2 weeks without a trade. you know why? HECTOR only trades between 7am london time and 12pm london time. No offense to the awesome dude(hector), but that is just too fucking lazy in my book. I mean, seriously? 4 to 5 hours per day? Are you shitting me?

Oh yes, i almost forgot: he does NOT trade on fridays or sundays. I mean, come on!

There are trends everywhere...all over the place. Load up 28 pairs/crosses on your monitor...and look from m30 to weekly. Do that for months and tell me you dont see trends either here or there.

UPDATE: yeah, i almost forgot too: hector takes the month of august off for some reason(he claims the market is thin). whatever, lad. And he only trade 1/2 of december(he claims the market gets thin). I had some amazing trades last december up till 31st. To me all these are just lazy excuses.
  • #3,118
  • Feb 4, 2010 8:20pm Feb 4, 2010 8:20pm
Quoting hytten
I followed Hector's youtube clips.. There are times he can't even find a trade 2 to 3 weeks, that is almost half to 3/4 of the month.. Perhaps he was looking at higher time frame hence no trade.

Are you making enough to trade fulltime yet?
I remember about 2 years ago, there was dry spell and everything was ranging and not really trending, but not finding a trend in all these currency bundles, is really a hard thing to do. they may not trend on all time frames, but there will be a trend somewhere in that mix nearly 100% of the time.

Sometimes you have to wait for price to get to a good spot to find an entry, but really there should be no problem finding a trend somehere that will provide some action.

I think if any of us were able to put the time into this like we would be if we were trading full time, I think just about anyone on this thread could make a living from this.

Even some of the new people just learning this are having some really good results trading this method. And again the more you trade it and the more screen time you get, the better you get at it, its like anything, trading has to be learned no one is born with the know how, it is all learned over time.


--NM
  • #3,119
  • Feb 4, 2010 8:22pm Feb 4, 2010 8:22pm
Quoting NightMoves
Make sure you always look at the longer time frames, the CHFJPY has broken the weekly top channel line, so I would want price to go above the high above that channel before I took an entry in it, it could pull back down into that channel.

--NM
Thanks for pointing that out. Just finished chapter 1 so i am still getting used to this.
  • #3,120
  • Feb 4, 2010 8:24pm Feb 4, 2010 8:24pm
Quoting NightMoves
..... And again the more you trade it and the more screen time you get, the better you get at it, its like anything, trading has to be learned no one is born with the know how, it is all learned over time.


--NM
NIGHTMOVES, are you familiar with the turtles experiment in trading? I first came across it in the market wizards book by jack d schwager. How much of trading is innate ability, how much is pure application? Of course, your own psychological profile.
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