Trend Trading All Pairs | Page 170 | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

Trading correlation pairs by using the other pairs 843 replies

28 Pairs Trading Panel (Multi-pairs) 0 replies

Export All pairs or selected pairs to .csv with script 3 replies

Daily Bar Analysis - All Pairs/All Welcome 15 replies

Trend Trading All Currency Pairs 3 replies

Attachments: Trend Trading All Pairs
Exit Attachments

Trend Trading All Pairs

  • #3,381
  • Feb 9, 2010 8:55am Feb 9, 2010 8:55am
Quoting NightMoves
Hi Pip,
I personally will not double up my risk, if I have a trade open with say the USD as cross, I will not take another trade with that currency crossed with anything.

And yes I will open several trades at once, however I never risk more than 3% total, so I will reduce my lot size on each pair so I never have more than 3% at risk at any given time, and usually unless the setup is absolutely perfect I will not even risk 3% I will reduce it down to between 1 and 2% for the most part.

--NM
Cheers NM

That makes a lot of sense...

So when you open "several" trades at once i imagine you mean (for example) 1 trade with a usd cross and another with a jpy cross. Anymore than 2 at a time?

As far as i understand theres only to "major" currencies, them being the usd and the jpy. Is this correct?

Also, you mention you usually trade between 1%-2% per trade...
Does this mean you "vary" your lots based on the quality of your trades?
If so, what factors will make you vary/reduce lots from your standard 3% risk?

Thanks again buddy.

Pip.
  • #3,382
  • Feb 9, 2010 8:56am Feb 9, 2010 8:56am
Quoting Chris P
Yep, still watching. It's made a breakout over the last couple of bars, but it'll still take a while for this to form a retest and then continuation. Heavy support at 1.5500, so if this does play out as expected, either stops moved or take profit at that level.



I'm pretty much the same as NM here, although everyone has their own slight variation, I won't open another trade if I've got my full risk on the table, UNLESS I have my stops at BE. At which point I'm no longer risking anything on those trades, so I've freed that portion of my capital...
Thats the same I way I do it, once I have all risks off the table then I am back to square one again, I do not think I have ever had more than 3 trades going at once, I think that is my max.

--NM
  • #3,383
  • Feb 9, 2010 9:11am Feb 9, 2010 9:11am
Quoting Chris P
Yep, still watching. It's made a breakout over the last couple of bars, but it'll still take a while for this to form a retest and then continuation. Heavy support at 1.5500, so if this does play out as expected, either stops moved or take profit at that level.



I'm pretty much the same as NM here, although everyone has their own slight variation, I won't open another trade if I've got my full risk on the table, UNLESS I have my stops at BE. At which point I'm no longer risking anything on those trades, so I've freed that portion of my capital...
Cheers Chris,

I guess its just a matter of individual comfort zone.

Im risking 3% per trade max.

So what your saying makes total sense as NM does aswell.

Here i see two options:

1.- Risk 3% on one trade only and do not open any other unless at BE.

2.- Risk 1% on one trade and open 2 more max to asign my 3% total....IF the trades present themselves.

Thanks for your thoughts guys
  • #3,384
  • Feb 9, 2010 9:24am Feb 9, 2010 9:24am
Quoting Pip Dawg
I hope so. This is the fun part...when the trend resumes and you can "milk" it for all it's worth.
I am kind of wondering if maybe this will retrace all the way back to the .0600 level. If it retraces depper than that, well I then I will find another different one to play with. It has moved its ADR for the day so far so I dont think we are going to get a lot more out of it today. But anything could happen.

--NM
  • #3,385
  • Feb 9, 2010 9:34am Feb 9, 2010 9:34am
Quoting NightMoves
I am kind of wondering if maybe this will retrace all the way back to the .0600 level. If it retraces depper than that, well I then I will find another different one to play with. It has moved its ADR for the day so far so I dont think we are going to get a lot more out of it today. But anything could happen.

--NM
I'm hoping it bounces off that support line at about .0640 but we will see. It looks like there will be quite a few good set ups coming off the 1 and 4H charts soon.
  • #3,386
  • Feb 9, 2010 10:16am Feb 9, 2010 10:16am
Check EUR/AUD daily chart. A clear downtrend. 1.6000 is the beast to break.




Quoting Pipalicious
Anybody got their eyes on the Eur/Aud?

Still needs developing but theres a fair bit of confluence on daily with future entry on 4h.

Opinions?

Another question...when you guys see several currencies with good opportunities...do you select the BEST out of all of them or does anyone here open "several" trades at a time?

If we open several i guess we are doubling our risk. For example e/u and u/chf.
Both look great. Would anyone consider increasing their lot size in order to just take one? instead of 3% go with 6%? Sounds crazy but i know...
  • #3,387
  • Feb 9, 2010 10:43am Feb 9, 2010 10:43am
Quoting NightMoves
I am kind of wondering if maybe this will retrace all the way back to the .0600 level. If it retraces depper than that, well I then I will find another different one to play with. It has moved its ADR for the day so far so I dont think we are going to get a lot more out of it today. But anything could happen.

--NM
.0600 level will be my preference too...but seriously, not sure i want to touch anything CHF at this moment...long or short, very irregular behaviour.
  • #3,388
  • Feb 9, 2010 10:52am Feb 9, 2010 10:52am
Interesting situation with the G/U. Look at the M15 candles too.

Range breakout or collapse?
Attached Image (click to enlarge)
Click to Enlarge Name: 2-9-2010 GBPUSD.jpg Size: 168 KB
  • #3,389
  • Feb 9, 2010 10:56am Feb 9, 2010 10:56am
Quoting PippyD
Interesting situation with the G/U. Look at the M15 candles too.

Range breakout or collapse?
All the USDs and the CADs. All of them.
  • #3,390
  • Feb 9, 2010 11:03am Feb 9, 2010 11:03am
Interesting.

I watched some of the range trading videos last night because I wanted to play around in here. Luckily I exited my short when the price stalled in the middle of the range (Thank you Hector). It shot up on the next candle.

Like Napoleon's generals - better lucky than smart.
  • #3,391
  • Feb 9, 2010 11:06am Feb 9, 2010 11:06am
Quoting PippyD
Interesting.

I watched some of the range trading videos last night because I wanted to play around in here. Luckily I exited my short when the price stalled in the middle of the range (Thank you Hector). It shot up on the next candle.

Like Napoleon's generals - better lucky than smart.
They've been aggressively oversold last week...some hard retracement is needed.
  • #3,392
  • Feb 9, 2010 11:11am Feb 9, 2010 11:11am
I want to try my hand at CUSTOS touch trade with AUD/USD at 0.8800 in demo. Let see if i get the conditions right for it.

SHORT TRADE.

FIB LEVEL 61%
RN = 0.8800
SLANTED TRENDLINE AS RESISTANCE
S/R level at 0.8800
30/50 SMA sandwich of price action.

Anything else?

Let see how this touch trade goes. I will enter and use 25 pips SL after the appearance of reversal candle.

UPDATE: EUR/USD short at 1.3850 looks too delicious. Same conditions as the AUD/USD. Let us see.
  • #3,393
  • Feb 9, 2010 11:32am Feb 9, 2010 11:32am
Hey Entropy,
Which time frame you are looking at?

Thanks
Quoting EntropyLad
I want to try my hand at CUSTOS touch trade with AUD/USD at 0.8800 in demo. Let see if i get the conditions right for it.

SHORT TRADE.

FIB LEVEL 61%
RN = 0.8800
SLANTED TRENDLINE AS RESISTANCE
S/R level at 0.8800
30/50 SMA sandwich of price action.

Anything else?

Let see how this touch trade goes. I will enter and use 25 pips SL after the appearance of reversal candle.

UPDATE: EUR/USD short at 1.3850 looks too delicious. Same conditions as the AUD/USD. Let us see.
  • #3,394
  • Feb 9, 2010 11:44am Feb 9, 2010 11:44am
Question for CUSTOS.

Will you take EUR/CAD SHORT at 1.4750? For a touch trade.

It seems to have all the recipes, major S/R, at RN, at FIB level(38.2%), 30/50 SMA trending down, with the exception of it just decisively breaking to the upside the H4 bearish slanted trendline...giving it momentum.

Your input.
  • #3,395
  • Feb 9, 2010 12:00pm Feb 9, 2010 12:00pm
Quoting EntropyLad
I want to try my hand at CUSTOS touch trade with AUD/USD at 0.8800 in demo. Let see if i get the conditions right for it.

SHORT TRADE.

FIB LEVEL 61%
RN = 0.8800
SLANTED TRENDLINE AS RESISTANCE
S/R level at 0.8800
30/50 SMA sandwich of price action.

Anything else?

Let see how this touch trade goes. I will enter and use 25 pips SL after the appearance of reversal candle.

UPDATE: EUR/USD short at 1.3850 looks too delicious. Same conditions as the AUD/USD. Let us see.
good call, I also got into the aud/usd trade, already up 20 pips.
  • #3,396
  • Feb 9, 2010 12:04pm Feb 9, 2010 12:04pm
Quoting EntropyLad
Question for CUSTOS.

Will you take EUR/CAD SHORT at 1.4750? For a touch trade.

It seems to have all the recipes, major S/R, at RN, at FIB level(38.2%), 30/50 SMA trending down, with the exception of it just decisively breaking to the upside the H4 bearish slanted trendline...giving it momentum.

Your input.
hm, I don't know why, but I don't like the eur/cad so much for a touch trade right now. Just the price action in the last couple of days was not that good. Took quite a while to get down and now too fast going up, do you know what I mean?
However, could of course become a good trade. I am just gonna watch that one.
  • #3,397
  • Feb 9, 2010 12:06pm Feb 9, 2010 12:06pm
Quoting MktScape
Hey Entropy,
Which time frame you are looking at?

Thanks
he was looking at the h4 chart.
At least I would be looking at that timeframe on aud/usd right now.
  • #3,398
  • Feb 9, 2010 12:09pm Feb 9, 2010 12:09pm
Quoting Pipalicious
Cheers NM

That makes a lot of sense...

So when you open "several" trades at once i imagine you mean (for example) 1 trade with a usd cross and another with a jpy cross. Anymore than 2 at a time?

As far as i understand theres only to "major" currencies, them being the usd and the jpy. Is this correct?

Also, you mention you usually trade between 1%-2% per trade...
Does this mean you "vary" your lots based on the quality of your trades?
If so, what factors will make you vary/reduce lots from your standard 3% risk?

Thanks again buddy....
The Major currencies I consider are the EU,GBP,JPY,AUD,USD,CHF...etc, and yes I do vary my lots according to the setup and the type of trend I am in.

What would make me reduce lots, is the time of day for the currency I am tading, the target distance, how wild or tame the trend is...etc, I guess I consider a lot of things at the time I am looking at an entry, and of course each trade is a little different than the last.
In a perfect setup or one that I would consider a perfect setup and extreme low risk trade, I will go in full boat on the trade and start dropping lots off as I reach target levels.

I know some people really like to do the Martingale thing, and thats probably ok, but really I think it is risky, at least imo, so I wont do that but I know some do.

--NM
  • #3,399
  • Feb 9, 2010 12:14pm Feb 9, 2010 12:14pm
Quoting EntropyLad
Question for CUSTOS.

Will you take EUR/CAD SHORT at 1.4750? For a touch trade.

It seems to have all the recipes, major S/R, at RN, at FIB level(38.2%), 30/50 SMA trending down, with the exception of it just decisively breaking to the upside the H4 bearish slanted trendline...giving it momentum.

Your input.
Exactly where do you enter such a trade?
  • #3,400
  • Feb 9, 2010 12:20pm Feb 9, 2010 12:20pm
Quoting Pip Dawg
Exactly where do you enter such a trade?
for a touch trade you enter at the touch of confluence. If everything is coming together at 1.4750, then you just enter at that number and hope that the level will hold. with a stop slightly above.
You can also wait for a pin bar or outside bar to confirm that a level is holding and enter at a break of that bar. And finally you can look for a bpc at the break of the retracement trendline to get into the trade. All depends on what you wanna go for. I like all three methods and use them all.

best regards
16 traders viewing now