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Trend Trading All Pairs

  • #3,741
  • Feb 12, 2010 9:54am Feb 12, 2010 9:54am
Quoting yunero
anyone with me?

previous post: http://www.forexfactory.com/showpost...postcount=3687
Hit my TSL @ 1.6845. Grabbed 80 pips on this trade.
Trend + S&R + RR =
  • #3,742
  • Feb 12, 2010 9:57am Feb 12, 2010 9:57am
ummm....i run away from GBP/CHF...but i give credit where credit is due. A pip is pip is a pip. You bag it here.

Nice to know you bag them on this. Keep making those pips, yunero.




Quoting yunero
anyone with me?

previous post: http://www.forexfactory.com/showpost...postcount=3687

New chart:
http://img713.imageshack.us/img713/1908/gchfnnv.gif
  • #3,743
  • Feb 12, 2010 9:57am Feb 12, 2010 9:57am
Quoting MktScape
Hey Pip Dawg,
Talking of overnight trades ...did you waited for the pullback after the breakout or did you entered a anticipated order?

Also, would you skip a trade if a setup hasnt fully materialized even late night and there is no way one can stay up an further to watch whats happening? I have been stopped out all the times (with loss) whenever i have tried to place overnigt order ... now i a begining to think that if i cant watch the trade there is no point in placin a antcipated order.

Would you share your thoughts on this . Any other...
I really don't have a problem with having orders placed overnight. Except we have a red colored news event during that time, other than that I only saw a minor decrease in win loss ratio when I don't sit in front of my computer. Maybe you have to refine your "S/R level finding" skills. Just a suggestion.

Best Regards
  • #3,744
  • Feb 12, 2010 10:04am Feb 12, 2010 10:04am
Quoting Custos
I really don't have a problem with having orders placed overnight. Except we have a red colored news event during that time, other than that I only saw a minor decrease in win loss ratio when I don't sit in front of my computer. Maybe you have to refine your "S/R level finding" skills. Just a suggestion.

Best Regards
I used to take overnite trades by setting the entry orders, but since the inception of the FIFO rule here, that pretty much stopped all that. You can set the order, and if the trade starts going against you during the night, you are just plain out of luck because you cannot set a stop loss.

You have to get in the market first, then you can place an entry order as a stoploss, but you have to link the 2 as OCO. IF you do not link them, then what happens is you have 2 0rders open in 2 different directions.

--NM
  • #3,745
  • Feb 12, 2010 10:06am Feb 12, 2010 10:06am
Quoting NightMoves
I used to take overnite trades by setting the entry orders, but since the inception of the FIFO rule here, that pretty much stopped all that. You can set the order, and if the trade starts going against you during the night, you are just plain out of luck because you cannot set a stop loss.

You have to get in the market first, then you can place an entry order as a stoploss, but you have to link the 2 as OCO. IF you do not link them, then what happens is you have 2 0rders open in 2 different directions.

--NM
okay, that is a good reason for not trading overnight, if you can't set stoplosses in advance.
  • #3,746
  • Feb 12, 2010 10:06am Feb 12, 2010 10:06am
Wondering how far you guys look when searching for conflicting signals on higher timeframes. Ive noticed hector (from what i understand) doesnt go too far back...say 1 - 2 years? He goes to D-W-M charts and scrolls a little bit...as if searching for previous swing lows/highs sortof.

How do you guys go about it? I personally zoom out loads to pin-point potential obstacles "a la j16"...PPZ and stuff.

Any thoughts on this? sorry for the newbie question. Its mostly curiosity since all traders here have their own "variations" to the main method.

Cheers

Pip
  • #3,747
  • Feb 12, 2010 10:07am Feb 12, 2010 10:07am
Quoting NightMoves
I used to take overnite trades by setting the entry orders, but since the inception of the FIFO rule here, that pretty much stopped all that. You can set the order, and if the trade starts going against you during the night, you are just plain out of luck because you cannot set a stop loss.

You have to get in the market first, then you can place an entry order as a stoploss, but you have to link the 2 as OCO. IF you do not link them, then what happens is you have 2 0rders open in 2 different directions.

--NM
I mistated that, the second order will take out the first order but now your in the market in the opposite direction...

--NM
  • #3,748
  • Feb 12, 2010 10:16am Feb 12, 2010 10:16am
Quoting Pipalicious
Wondering how far you guys look when searching for conflicting signals on higher timeframes. Ive noticed hector (from what i understand) doesnt go too far back...say 1 - 2 years? He goes to D-W-M charts and scrolls a little bit...as if searching for previous swing lows/highs sortof.

How do you guys go about it? I personally zoom out loads to pin-point potential obstacles "a la j16"...PPZ and stuff.

Any thoughts on this? sorry for the newbie question. Its mostly curiosity since all traders here have their own "variations" to the main method.

Cheers

Pip...
hm, I basically go back all the historical data I have. Correct me if I am wrong, but I think the S/R levels of Hector and James16 are quite different. Hector searches only for main S/R levels, where price really couldn't get through, whereas james16's ppz are more based on where price had troubles to get through...
Attached is aud/nzd weekly with two black S/R levels (hector's S/R levels). And from what I think james16 would also qualify as an S/R level (the light blue line). Again, if I am wrong please correct me, cause I am not an expert in james16's material.

I would just look for hector's levels for higher time-frame conflicting signals, otherwise you come up with so many S/R levels that you don't wanna take any trades anymore, cause you are concerned of every single obstacle. Just my opinion

Hope that makes sense?
Attached Image (click to enlarge)
Click to Enlarge Name: audnzd w1 12.2.2010.gif Size: 54 KB
  • #3,749
  • Feb 12, 2010 10:17am Feb 12, 2010 10:17am
Quoting yunero
Sell stop triggered at 1.2715.. let see how it plays..

http://img5.imageshack.us/img5/7007/annn.gif
Currently i'm still holding short on USDJPY and AUDNZD..

http://www.forexfactory.com/showpost...postcount=3669

Yesterday post: http://www.forexfactory.com/showpost...postcount=3543

New chart:
http://img98.imageshack.us/img98/8453/annnn.gif
Trend + S&R + RR =
  • #3,750
  • Feb 12, 2010 10:17am Feb 12, 2010 10:17am
Quoting Pipalicious
Wondering how far you guys look when searching for conflicting signals on higher timeframes. Ive noticed hector (from what i understand) doesnt go too far back...say 1 - 2 years? He goes to D-W-M charts and scrolls a little bit...as if searching for previous swing lows/highs sortof.

How do you guys go about it? I personally zoom out loads to pin-point potential obstacles "a la j16"...PPZ and stuff.

Any thoughts on this? sorry for the newbie question. Its mostly curiosity since all traders here have their own "variations" to the main method....
I go back as far as I can when looking for a max high or low. Like right now the EU is right a support area from 1991 and 2004, so I always mark those spots just in case.

--NM
  • #3,751
  • Feb 12, 2010 10:22am Feb 12, 2010 10:22am
Quoting Custos
okay, that is a good reason for not trading overnight, if you can't set stoplosses in advance.
Yes it really makes entering a trade a pain in the bucket, when you close out your positions you have to close the stop loss orders seperately otherwise they consitute a new order in the opposite direction.

After that rule went into effect I had to download a practice account for my live trading platform just to place orders and entries too make sure I had the procedure correct.

--NM
  • #3,752
  • Feb 12, 2010 10:31am Feb 12, 2010 10:31am
Quoting MktScape
Hey Pip Dawg,
Talking of overnight trades ...did you waited for the pullback after the breakout or did you entered a anticipated order?

Also, would you skip a trade if a setup hasnt fully materialized even late night and there is no way one can stay up an further to watch whats happening? I have been stopped out all the times (with loss) whenever i have tried to place overnigt order ... now i a begining to think that if i cant watch the trade there is no point in placin a antcipated order.

Would you share your thoughts on this . Any other...

Quote
Originally posted by MarketScape:

PS: Those twins were really ugly ...you can get nightmares if you look at the twins for too long!
Quote
Originally posted by Pig Dawg:
Entropy....my eyes are better after being burned by your ugly twins photo...I'm glad I wasn't eating at the time.
I always wait for confirmation...except with TT(touch trades)

Well, if i have caused unimaginable psychological pain for posting those two ugly twins...let me try and make it up with these two...restoring balance to the force, so to speak...with these....

IT IS FRIDAY...enjoy.

http://myspace.roflposters.com/image...5D.myspace.jpg


You do not want to know what is written on the TRIPLETS.....
  • #3,753
  • Feb 12, 2010 10:35am Feb 12, 2010 10:35am
It's worth reading this thread just for Entropy's pictures.
  • #3,754
  • Feb 12, 2010 10:36am Feb 12, 2010 10:36am
Hi Custos,
Thanks for the suggestion ..... since I am practicing Hector setup and quite a few times i felt that the setup will materialize overnight and I wont be awake at that time so i place an advance order with stop loss...what happens is that the price pokes into the order and then retreats to hit the stop loss resulting in a loss....i am certainly missing a piece of the puzzle here and i think the best way would be to bring it up here the next time such situation arises ....

I would apprecaite any other suggestion on placing overnight order in case of a pending setup & stop loss placement.

Thanks

Quoting Custos
I really don't have a problem with having orders placed overnight. Except we have a red colored news event during that time, other than that I only saw a minor decrease in win loss ratio when I don't sit in front of my computer. Maybe you have to refine your "S/R level finding" skills. Just a suggestion.

Best Regards
  • #3,755
  • Feb 12, 2010 10:42am Feb 12, 2010 10:42am
Quoting Custos
hm, I basically go back all the historical data I have. Correct me if I am wrong, but I think the S/R levels of Hector and James16 are quite different. Hector searches only for main S/R levels, where price really couldn't get through, whereas james16's ppz are more based on where price had troubles to get through...
Attached is aud/nzd weekly with two black S/R levels (hector's S/R levels). And from what I think james16 would also qualify as an S/R level (the light blue line). Again, if I am wrong please correct me, cause I am not an expert in...
Yes i understand what you mean. J16 basically looks for what he calls "price pivot zones"...zones where price is expected to react considerably, be it to bounce or break through.

In the end i think they are both based on the same principles. i believe its just a matter of highlighting the *hottest* s/r levels historically and to keep it as simple as possible, with the least of lines. Just the obvious ones.

Also ive noticed that historical key areas also work on round numbers so if you have a key S/R or ppz (same thing) just punch in the closest round number....if that makes sense...

I know BRV uses ppz from watching videos on his blog. I think its him you learned your touch trades from...?

Cheers dude.

Pip
  • #3,756
  • Feb 12, 2010 10:51am Feb 12, 2010 10:51am
Quoting Pipalicious
Yes i understand what you mean. J16 basically looks for what he calls "price pivot zones"...zones where price is expected to react considerably, be it to bounce or break through.

In the end i think they are both based on the same principles. i believe its just a matter of highlighting the *hottest* s/r levels historically and to keep it as simple as possible, with the least of lines. Just the obvious ones.

Also ive noticed that historical key areas also work on round numbers so if you have a key S/R or ppz (same thing) just punch in the closest...
yeah, you just have to map your chart with the least lines possible.
And yes, I learned a great deal from brv concerning touch trades, I just only trade them with the trend.

best regards
  • #3,757
  • Feb 12, 2010 4:24pm Feb 12, 2010 4:24pm
Quoting Chris P
2 trades for Friday morning:

EURAUD - LOB: Entry at 1.5340, stop trailed down behind PA. Just before EUR GDP was released price manically shot back up and took out my stop for +0.5R. Shame, it was only 15 pips away from my TP

AUDJPY - 1h BEOB: Nice big PA around 80.00. Short at break of BEOB at 79.55. TP at previous bar highs and RN 79.05

Happy Friday Pippin' everyone

interesting. i wont have taken either the AUD/JPY short...essentially, you are fading the breakout...ballsy. I didnt take the EUR/AUD due to lack of BPC. Anyways, as per hector, LOB trade generally completes by the time NY starts to wake up. Most of the reversal today happened at 8am US est time.
  • #3,758
  • Feb 12, 2010 5:03pm Feb 12, 2010 5:03pm
Quoting Paulette
Guys, a special little message for our 20% friend:

"......that the greatest waste in the world is the difference
between what we are and what we could become.
"

milkmen, braz villas, snaz bathroom with ex-GF's... Milking the pips...

For my first live week I have a solid 100pips in the bank... Thanx NM, Custos, Entropy, Pdog and PipL.
hey, paulette, i am happy for you.

Yeah, that 20% theory, i dont know where that comes from. I need to see the data to make sense of it. I mean, maybe the CAD/JPY is consolidating on the monthly that does not mean it is not trending on the hourly at the very same time. So, 20% of what exactly? of weekly? or of monthly? or of hourly?

Let us even consider a yearly time frame. I mean, we measure trading success by yearly performance. So, going by the stretch of a year: 20% will be 2.4 months per year. Since we have only 12 months per year, and 20% of that 12months = 2.4 months. So that means that all the CADs or all the EURs or all the JPYs or all the CHFs will only trend for 2.4 months in an entire year if that 20% trending is true.
Well, lucky for us we have 8 currencies permutations: AUD, CAD, JPY, NZD, USD, GBP, EUR, CHF.
So, if each currency can only trend 20% of the time, and we want to be very conservative and claim only one currency is allowed to trend at one given time(which of course, it is not true, but for the sake of argument...). That still leaves us with 20% on a 8 rotating basis. And since 20% = 2.4 months, that is equivalent to 2.4 months on a 8 rotating basis = 2.4months X 8 = 19.2 months in a year. As we know, this completely exceeds the number of months in a year(12 months) by 160%. So, essentially, there will be trends all year long switching from one currency to another and back and forth...in fact, there will be trend 160% of the time within a year if you trade all 8 permutations of AUD, CAD, NZD, USD, EUR, JPY, GBP, CHF.

I dont understand exactly what the critique is of stating that the market only trend 20% of the time. So what if it does? On average, I will still have 160% of available months within a year to trend.
  • #3,759
  • Feb 12, 2010 5:44pm Feb 12, 2010 5:44pm
Do you trade full time? Also for a potential overnight setup do you keep yourself awake for the whole time until the confirmation occurs? I mean how do you manage it ... I have a full time job and its impossible for me to stay up ...

Quoting EntropyLad
I always wait for confirmation...except with TT(touch trades)

Well, if i have caused unimaginable psychological pain for posting those two ugly twins...let me try and make it up with these two...restoring balance to the force, so to speak...with these....

IT IS FRIDAY...enjoy.

GOOD ONE .... FOR A FRIDAY AND AN ANTIDOTE FOR THE UGLIES ...

You do not want to know what is written on the TRIPLETS.....
  • #3,760
  • Edited 10:18pm Feb 12, 2010 9:54pm | Edited 10:18pm
HI Guys,
I thought I would upload a risk calculator for those of you that are using micro accounts. This will update using MT4 data, for those not using MT4 you can still use the risk calculator but you will have to get the pip value from your platform.

Make sure MT4 is running before you open the file, it will ask if you want to update when you open open it, just click update. I am not sure which pairs everyone trades so I added the ones I trade but more can be added.

--NM

p.s. Also make sure your DDE server check box is checked in MT4...or the sheet will not get the data it needs.
Attached File(s)
File Type: xls Risk per trade Calculator Micro.xls   53 KB | 430 downloads
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