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Trend Trading All Pairs

  • #3,121
  • Feb 4, 2010 8:28pm Feb 4, 2010 8:28pm
Quoting EntropyLad
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,...
Thats a good point, learn to trade each session, learn what currencies offer the best opportunities in each session and you will bring home the pips. Its all a learning curve, but keeping a method simple and learning the sessions, will make you a happy camper.

I also trade all the sessions, I do have another job, but honestly I keeep my computer on the bench or at my desk and I am always looking for trades to get into.

Plenty of action trading in here for sure. But it takes time to learn you do not want to jump in with real money until you are confident about when you are seeing and why you are taking the trade. If you trade just to be in the market you will not survive, it takes discipline and A LOT of screen time to get used to the price action and knowing exactly what your seeing.

Keep a good journal and note everything you can about the trade, so you can go back and review what worked and what did not work.

--NM
  • #3,122
  • Feb 4, 2010 8:36pm Feb 4, 2010 8:36pm
Another thing is this. I dont recall a week ever going by without at the very least, TWO l.o.b trades. On top of that, there is the rectangle breakout and flat top/bottom triangle breakout trades.

What else can you ask for?


Quoting NightMoves
Thats a good point, learn to trade each session, learn what currencies offer the best opportunities in each session and you will bring home the pips. Its all a learning curve, but keeping a method simple and learning the sessions, will make you a happy camper.

I also trade all the sessions, I do have another job, but honestly I keeep my computer on the bench or at my desk and I am always looking for trades to get into.

Plenty of action trading in here for sure. But it takes time to learn you do not want to jump in with real money until you...
  • #3,123
  • Feb 4, 2010 8:37pm Feb 4, 2010 8:37pm
Quoting EntropyLad
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.
Yes I am familiar with both of those, I have read both of those, and the turtle traders is a good example of learning to trade, they knew nothing about trading, and a few of them knew nothing about MM either, that is why not all of them turned out successful.

There is a combination of both in trading:

1: You have to know what your looking at

2: You have to know something about human behavior

There are psychological levels in all markets, thats one of the reasons they move like they do.

Once you know both of those you can trade. Money Management is probabaly the biggest killer out here, there just never seems to be enough emphasis put on it. And it is crucial to survival, I dont care if you win 70% of your trades if your MM is bad, you will go broke no if's and's or buts' about it.

--NM
  • #3,124
  • Feb 4, 2010 8:57pm Feb 4, 2010 8:57pm
Quoting EntropyLad
Another thing is this. I dont recall a week ever going by without at the very least, TWO l.o.b trades. On top of that, there is the rectangle breakout and flat top/bottom triangle breakout trades.

What else can you ask for?
You know all kidding aside, even though we joke around in here quite a bit because thats who we are, I take my trading very serious, I have owned several businesses, and I took those sierious its an income and a good one, I treat trading the same way. Its real money and it can be really gone if you do not pay attention to what your doing.

The information and the help we give the new traders is very serious, and anyone can make money trading this method, and no matter how much we joke around never take trading as a game, because it is not a game it is a very serious and lucrative business.

Just like in ths stores and real Estate Brokerages I owned, I keep a log of every transaction, it is vital too sucess just as good MM and a good method is.

It has to be treated serious so to all the new guys on this thread just because we joke around a lot, the method we use is not a fly by night method, it makes money if you follow the rules and apply good MM and good judgement.

Thats the way you climb your way to trading full time, be very adiment about keeping good journals, and review them, review them, review them...did I mention review them?

Learn the method practice the method and if you have questions there will be someone to help you with the answer. This is a very simple method and effective way of trading, and once you master the PA on the charts you will gain more confidence with each trade.

--NM
  • #3,125
  • Feb 4, 2010 9:00pm Feb 4, 2010 9:00pm
And there goes the USDCHF pair as soon as it crossed that last high, it was gone...

--NM
  • #3,126
  • Feb 4, 2010 9:03pm Feb 4, 2010 9:03pm
EURCHF too???? Whats up??????? Here we go again....

--NM
  • #3,127
  • Feb 4, 2010 9:07pm Feb 4, 2010 9:07pm
Quoting NightMoves
And there goes the USDCHF pair as soon as it crossed that last high, it was gone...

--NM

what sup with the uchf spike? is there news or something? or just some TA PA breaking thru

rdgs
trade safe
  • #3,128
  • Feb 4, 2010 9:13pm Feb 4, 2010 9:13pm
Quoting zz_zhang
what sup with the uchf spike? is there news or something? or just some TA PA breaking thru

rdgs
I am not sure what that is all about. All the CHF pairs are moving, this is twice today this market has done this.

--NM
  • #3,129
  • Feb 4, 2010 9:13pm Feb 4, 2010 9:13pm
Quoting zz_zhang
what sup with the uchf spike? is there news or something? or just some TA PA breaking thru

rdgs
ChrisP and I were talking about that here:

http://www.forexfactory.com/showpost...postcount=2779

and here:


http://www.forexfactory.com/showpost...postcount=2776
  • #3,130
  • Feb 4, 2010 9:14pm Feb 4, 2010 9:14pm
Quoting NightMoves
And there goes the USDCHF pair as soon as it crossed that last high, it was gone...

--NM
LOL whats happening? Thats a crazy spike on direction of trend. Too bad i missed it.
  • #3,131
  • Feb 4, 2010 9:16pm Feb 4, 2010 9:16pm
Quoting EntropyLad
ChrisP and I were talking about that here:


http://www.forexfactory.com/showpost...postcount=2776

and here:

http://www.forexfactory.com/showpost...postcount=2779
I agree the EURCHF pair is tricky at times, but this move is all the CHF pairs not just the EURCHF, so unless this has to do with what happened today I have no idea why they are moving like that.

--NM
  • #3,132
  • Feb 4, 2010 9:16pm Feb 4, 2010 9:16pm
Quoting NightMoves
You know all kidding aside, even though we joke around in here quite a bit because thats who we are, I take my trading very serious, I have owned several businesses, and I took those sierious its an income and a good one, I treat trading the same way. Its real money and it can be really gone if you do not pay attention to what your doing.

The information and the help we give the new traders is very serious, and anyone can make money trading this method, and no matter how much we joke around never take trading as a game, because it is not a game...
Well said NM.

IMHO aswell i believe that in order to live from the markets we should be capable of pulling out "consistantly" a minimum % per month...

I look at the worst case scenario and aim for minimum 5% per month.

If one can consistantly achieve this....then its a question of time, patience and discipline to grow the account to a point where this "small" 5% return pays your morgage for 6 months or more lol. Its a volume business and the % rules the roost...

I think we know that the methods here can spit out 5% per month and more conservatively.

My e/u trade pulled in just over 16% in the last two days.
Not bragging at all since its demo, but I just wanted to voice my opinion aswell.

This thread is fantastic and theres excellent people here who openly share their knowledge.

Keep it up!

Pip
  • #3,133
  • Feb 4, 2010 9:17pm Feb 4, 2010 9:17pm
Quoting iezzzwan
LOL whats happening? Thats a crazy spike on direction of trend. Too bad i missed it.
Yes it is, not normal at all, there could be a big snap back from this. All the CHF pairs are doing the same thing...

--NM
  • #3,134
  • Feb 4, 2010 9:21pm Feb 4, 2010 9:21pm
Quoting NightMoves
Yes it is, not normal at all, there could be a big snap back from this. All the CHF pairs are doing the same thing...

--NM
One guess: SNB market intervention. Today has been an interesting day in the forex market for sure. Thank the heavens i wasnt on the opposite of any of those trades in USD, JPY or CHF. Trade with the trend, and only after price action confirmation.
  • #3,135
  • Feb 4, 2010 9:24pm Feb 4, 2010 9:24pm
My guess is that the big institutional players have just dumped their investment on CHF especially after all the volatility from other currencies recently.. just my speculation though.
  • #3,136
  • Feb 4, 2010 9:24pm Feb 4, 2010 9:24pm
Quoting EntropyLad
One guess: SNB market intervention. Today has been an interesting day in the forex market for sure. Thank the heavens i wasnt on the opposite of any of those trades in USD, JPY or CHF. Trade with the trend, and only after price action confirmation.
It could be that, there has been rumors flying around since december that they may do it. I guess we will have to wait and see what the news has to say about this move.

--NM
  • #3,137
  • Feb 4, 2010 9:25pm Feb 4, 2010 9:25pm
This CHF moves was anticipated earlier this week in this post.

Sent in by CHRISp

http://www.forexfactory.com/showpost...ostcount=53470
  • #3,138
  • Feb 4, 2010 9:27pm Feb 4, 2010 9:27pm
Quoting EntropyLad
This CHF moves was anticipated earlier this week in this post.

Sent in by CHRISp

http://www.forexfactory.com/showpost...ostcount=53470
Well maybe thats what happened. I would not be suprised to see the BOJ step in soon as well.

--NM
  • #3,139
  • Feb 4, 2010 9:33pm Feb 4, 2010 9:33pm
This has been one crazy day in the FOREX markets...

--NM
  • #3,140
  • Feb 4, 2010 9:37pm Feb 4, 2010 9:37pm
Quoting Pipalicious
Well said NM.

IMHO aswell i believe that in order to live from the markets we should be capable of pulling out "consistantly" a minimum % per month...

I look at the worst case scenario and aim for minimum 5% per month.

If one can consistantly achieve this....then its a question of time, patience and discipline to grow the account to a point where this "small" 5% return pays your morgage for 6 months or more lol. Its a volume business and the % rules the roost...

I think we know that the methods here can spit out 5% per month and more conservatively.

My...
I honestly know that one can make 5% per month just trading LOB trades alone. Which only takes 7am to 9am london open time. That is it. The risk/reward for LOB tends to be 1:2 and more. Risking 1% of your account with 4 LOB in a month = 8% return. Even if you are very, very conservative with a 1:1.5 r/r = 6% return per month.

On top of that, i will be shock to see only 4 lob per month. I have never seen that few before. They tends to be a minimum of 2 per week. With that, risking only 0.5% of your account will still put you ahead of 5% return per month even with a r/r of 1 vs 1.5.

Also, i agree with NM on everything he said about money management and seriousness in trading.
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