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Trend Trading All Pairs

  • #3,841
  • Feb 15, 2010 7:21am Feb 15, 2010 7:21am
Quoting Chris P
Hey Pip,

I use this EA to manage my trades on MT4.

http://www.forexfactory.com/showpost...ostcount=48663

I also trade on other platforms though, so for those I simply set alarms for when price reaches certain levels so I can look at my charts and make adjustments as necessary.

Best,
Chris
Aheup Chris,

Thanks for that buddie.

Im gonna look into it now.

Cheers

Pip
  • #3,842
  • Edited 7:39am Feb 15, 2010 7:28am | Edited 7:39am
Anyone seen/in the usd/cad triangle breakout?

Watching usd/jpy 4h - gbp/jpy 4h - gbp/chf 30m

What do you guys think?

EDIT:

The gbp/chf I see it as a triangle breakout to the upside.
If all goes well my 1st TP will be the previous swing high (1.6945) and iŽll close the rest at the ADR/RN below 1.7000

The others are short swings but since theres holidays i will just watch them.
  • #3,843
  • Feb 15, 2010 7:39am Feb 15, 2010 7:39am
Quoting Pipalicious
Anyone seen/in the usd/cad triangle breakout?

Watching usd/jpy 4h - gbp/jpy 4h - gbp/chf 30m

What do you guys think?
I think because of the US Holiday the markets are going to be rather sluggish, the ADR on most of these pairs is sitting at about half the normal movement we usually see by this time, and they do not seem to be in a big hurry to make up the difference.

--NM
  • #3,844
  • Feb 15, 2010 7:59am Feb 15, 2010 7:59am
Quoting sonicfx
Hi m8,

Do you trade full-time from home? I trade part-time from home, im currently on 1 weeks holiday from my full-time job and like you im finding this hard lol. I currently have a trade going but because i trade on 4hr charts, its like watching paint dry lol! When you work on the side it sort of takes your mind off your trade, which can be a good thing sometimes
i am with you bro. i have my own business and i can trade either home or office but today is rather sluggish. no really good setup that i see. i agree with watching paint dry. so what i did was just watch tv series that i downloaded. mondays are usually slow at the office so i can just bum today
  • #3,845
  • Feb 15, 2010 8:50am Feb 15, 2010 8:50am
Quoting Pipalicious
Aheup Chris,

Thanks for that buddie.

Im gonna look into it now.

Cheers

Pip
Hey Pip....how does this EA work?
  • #3,846
  • Feb 15, 2010 9:03am Feb 15, 2010 9:03am
Quoting NightMoves
I think because of the US Holiday the markets are going to be rather sluggish, the ADR on most of these pairs is sitting at about half the normal movement we usually see by this time, and they do not seem to be in a big hurry to make up the difference.

--NM

I am curious, is ADR relevant during bank holidays?...doesnt that negate ADR?
  • #3,847
  • Feb 15, 2010 9:10am Feb 15, 2010 9:10am
Quoting EntropyLad
I am curious, is ADR relevant during bank holidays?...doesnt that negate ADR?
Nope it does not negate it, these pairs move a certain average each day, and those averages hold pretty true, even though due to tha bank holiday the averages are much lower due to the lower volumes, which in turn will change the ADR to reflect the lower volumes at the end of the day.

--NM
  • #3,848
  • Feb 15, 2010 9:18am Feb 15, 2010 9:18am
Quoting NightMoves
Nope it does not negate it, these pairs move a certain average each day, and those averages hold pretty true, even though due to tha bank holiday the averages are much lower due to the lower volumes, which in turn will change the ADR to reflect the lower volumes at the end of the day.

--NM
If the average is going to be much lower than average, as you so put it...then, what is the point of using it on bank holiday? That the point of my question...anyways, each to his/her own.

I havent collect enough information on ADR on bank holiday to reach anything definitive. Who knows? it may have no effect.
  • #3,849
  • Feb 15, 2010 9:22am Feb 15, 2010 9:22am
Quote
Quote:...
Thanks for the clarification.....CHRISP


Interesting, how the breakout in EUR/CAD and GBP/CAD during london time reversed itself at 8am US est time.....perhaps it is temporary.

Anyways, i didnt take any of the breakouts in eur/cad or gbp/cad today.

CHINA has bank holiday throughout this week
  • #3,850
  • Feb 15, 2010 9:24am Feb 15, 2010 9:24am
Quoting EntropyLad
If the average is going to be much lower than average, as you so put it...then, what is the point of using it on bank holiday? That the point of my question...anyways, each to his/her own.

I havent collect enough information on ADR on bank holiday to reach anything definitive. Who knows? it may have no effect.
No I am not saying to use it today to set targets because they will probably not be hit, what I am saying is that because of the low volumes the ADR will not be hit most likely.

--NM
  • #3,851
  • Feb 15, 2010 9:25am Feb 15, 2010 9:25am
Quoting EntropyLad
If the average is going to be much lower than average, as you so put it...then, what is the point of using it on bank holiday? That the point of my question...anyways, each to his/her own.

I havent collect enough information on ADR on bank holiday to reach anything definitive. Who knows? it may have no effect.
I think it is for sure relevant. Only because US is on holidays doesn't mean that for example london traders can't take up the eur/usd to its ADR.
Of course the probability of that happening is lower than usual, since we miss some of the liquidity we normally have.
  • #3,852
  • Feb 15, 2010 9:35am Feb 15, 2010 9:35am
Thanks, chris. That is a rare find. Much better than my post here:

http://www.forexfactory.com/showpost...postcount=3776

I like that EA...in fact, is the only EA i think i ever like. Thanks for the link.


Quoting Chris P
Hey Pip,

I use this EA to manage my trades on MT4.

http://www.forexfactory.com/showpost...ostcount=48663

I also trade on other platforms though, so for those I simply set alarms for when price reaches certain levels so I can look at my charts and make adjustments as necessary.

Best,
Chris
  • #3,853
  • Feb 15, 2010 9:36am Feb 15, 2010 9:36am
Quoting Pip Dawg
Hey Pip....how does this EA work?
Havent got round to trying it as of yet...

IŽll check it out with more time and let you know... but it does sound very interesting. Lets see what it can do
  • #3,854
  • Feb 15, 2010 9:37am Feb 15, 2010 9:37am
Quoting Custos
I think it is for sure relevant. Only because US is on holidays doesn't mean that for example london traders can't take up the eur/usd to its ADR.
Of course the probability of that happening is lower than usual, since we miss some of the liquidity we normally have.
That is much better than the way I expained it, I think that if one or two pairs are not reaching the ADR then everything is pretty much normal across the board on the other pairs, but with the ADR not reaching the normal across the board then it is like playing poker, it is a hit and miss because of the low liquidity and best for me to stay out of the market until things pick up a little. But that does not mean everyone should not trade I just like to see a little more volume if I am going to get in it.

--NM
  • #3,855
  • Feb 15, 2010 9:42am Feb 15, 2010 9:42am
If EUR/CAD gets to 1.4300/50% fib before 12pm EST/TIME...a SHORT m30/m5 will look ripe.
1, 2, 3 formation trade maybe in the offings. It has the trend, it has the FIB(50%), it has the S/R level, it has the 30, 50 SMA in that area, it has the RN...it is a nice setup.

http://www.forexfactory.com/attachme...1&d=1266248942
Attached Image (click to enlarge)
Click to Enlarge Name: eurcad ii.gif Size: 35 KB
  • #3,856
  • Feb 15, 2010 9:55am Feb 15, 2010 9:55am
hey, CUSTOS, it is almost there...almost...are you going to TT GBP/CAD at 1.6450?...it doesnt meet rule #7 of my criteria...But...maybe good for you...
  • #3,857
  • Feb 15, 2010 10:05am Feb 15, 2010 10:05am
Quoting EntropyLad
hey, CUSTOS, it is almost there...almost...are you going to TT GBP/CAD at 1.6450?...it doesnt meet rule #7 of my criteria...But...maybe good for you...
ah no, price didn't respect this area the whole day. Not gonna get into that one.
  • #3,858
  • Feb 15, 2010 10:10am Feb 15, 2010 10:10am
Which mt4 brokers do you guys know of that have 28+ currencies? The one im using has 23.

Any suggestions?

Ive tried alpari, mig, mbt...

Also, does anyone here trade *live* through an mt4 broker? Any personal recommendations?

Im going live beggining next month so id like some feedback from you guys if possible.

Ive looked into oanda aswell but their charts are horrid. Then again i could trade through them and analize through mt4, but in either case id like your opinions if ok.

Cheers

pip
  • #3,859
  • Feb 15, 2010 10:11am Feb 15, 2010 10:11am
Quoting Custos
ah no, price didn't respect this area the whole day. Not gonna get into that one.
I see...that goes in line with WMD thinking about S/R...good point...1.4300 was much respected on EUR/CAD than 1.6450 was on GBP/CAD...what makes me also queasy about these is that it looks like a nice, sharp, double bottom....EUR/CAD not so much, which makes it better looking....

Of course, it bears adding: they all violate rule #7 of my TT. So, i only intend to trade 1, 2,3 formation on EUR/CAD before 12pm est US time.
  • #3,860
  • Feb 15, 2010 10:12am Feb 15, 2010 10:12am
MIG has them all, every last one of them...i use MIG to demo/analyze charts. I use two other brokers for my live trades....OANDA is one of them(OANDA doesnt have all available pairs/crosses)...their spread is tighter though.



Quoting Pipalicious
Which mt4 brokers do you guys know of that have 28+ currencies? The one im using has 23.

Any suggestions?

Ive tried alpari, mig, mbt...

Also, does anyone here trade *live* through an mt4 broker? Any personal recommendations?

Im going live beggining next month so id like some feedback from you guys if possible.

Ive looked into oanda aswell but their charts are horrid. Then again i could trade through them and analize through mt4, but in either case id like your opinions if ok.

Cheers

pip
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