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Trend Trading All Pairs

  • #3,921
  • Edited 6:43am Feb 16, 2010 6:31am | Edited 6:43am
Quoting Pipalicious
Are you talking of aud/jpy?

Could you post a pic so that i can see visually what you mean please?

Just want to contrast your personal view thats all.

Im not in any trade today. Market seems a bit "woncky" lol.
TF's 1hr/15mins - Originally posted and spotted by EntropyLAD
Attached Image (click to enlarge)
Click to Enlarge Name: audjpy 16 Feb 2010.jpg Size: 200 KB
  • #3,922
  • Feb 16, 2010 6:41am Feb 16, 2010 6:41am
Quoting Custos
still remember my trade last week on gbp/aud? I still have a small position open with 500+ pips. Amazing that that pair runs so far in such a short period of time.
nicely done Custos

  • #3,923
  • Feb 16, 2010 6:50am Feb 16, 2010 6:50am
Quoting Chris P
nicely done Custos

Nice Job...You will be the first one to get a brazillian beach houses...and remember the butler is still looking for work...

--NM
  • #3,924
  • Feb 16, 2010 6:51am Feb 16, 2010 6:51am
Hi Guys

some boring news on GU - or maybe pattern break below or above

"Intraday Market Thought: GBPUSD posts enters the longest consolidationGBPUSD posts enters the longest consolidation period since October, remaining in the 150-pip territory of $1.5580-1.5730"
  • #3,925
  • Feb 16, 2010 6:58am Feb 16, 2010 6:58am
Quoting NightMoves
Nice Job...You will be the first one to get a brazillian beach houses...and remember the butler is still looking for work...

--NM
haha, before I get that brazilian beach house, I want to get a lamborghini driving around the town
  • #3,926
  • Feb 16, 2010 7:01am Feb 16, 2010 7:01am
Hey guys,

Wondering if anyone here has ever traded within a well established horizontal range before and the type of experience ones had with it?

I mean clear ranges (gbp/usd type) where tp 1 is the middle (+ sl @ B.E) and tp2 the ADR + RN?

Chart here so to make it clear.

Just curiosity since i was seriously considering taking it.

Anyone here ever traded these before?
Attached Image(s) (click to enlarge)
Click to Enlarge Name: gu4h.png Size: 72 KB
Click to Enlarge Name: gu1h.png Size: 62 KB
  • #3,927
  • Feb 16, 2010 7:02am Feb 16, 2010 7:02am
Quoting Custos
haha, before I get that brazilian beach house, I want to get a lamborghini driving around the town
I live on a small island and i saw on tv last night this special event their bringing to the island.

For 180€ - 250€ one can drive with a choice of lambos, ferraris, aston martin, audi r8, porsche, formula 3....

I must go!!! wooooo!!!! lol!
  • #3,928
  • Feb 16, 2010 7:04am Feb 16, 2010 7:04am
Quoting Pipalicious
I live on a small island and i saw on tv last night this special event their bringing to the island.

For 180€ - 250€ one can drive with a choice of lambos, ferraris, aston martin, audi r8, porsche, formula 3....

I must go!!! wooooo!!!! lol!
wow, I would love to drive one of those!!
  • #3,929
  • Feb 16, 2010 7:05am Feb 16, 2010 7:05am
Quoting Pipalicious
Hey guys,

Wondering if anyone here has ever traded within a well established horizontal range before and the type of experience ones had with it?

I mean clear ranges (gbp/usd type) where tp 1 is the middle (+ sl @ B.E) and tp2 the ADR + RN?

Chart here so to make it clear.

Just curiosity since i was seriously considering taking it.

Anyone here ever traded these before?
yes, I did, they work out quite well, but I am only taking them in direction of the trend, never against it.
  • #3,930
  • Feb 16, 2010 7:19am Feb 16, 2010 7:19am
Quoting Custos
yes, I did, they work out quite well, but I am only taking them in direction of the trend, never against it.
Cool.

I would only take them with the trend aswell. In general if the range is wide and clean I think it can work out quite well statistically in the longterm.

Did you take this gbp/usd trade? If not is there anything that you didnt like about it or that doesnt fit your criteria? Just wanting to see your thought process .

And ye im defo going to go and drive one of them! But im more of a ferrari chap. Especially the f430, my dream car, which will be paid with pips lol.

One of my ex-managers used to have the 360 spyder. But the f430.....mmm.....now THAT is a beast in itself.

Check this out -->
Inserted Video
  • #3,931
  • Feb 16, 2010 7:23am Feb 16, 2010 7:23am
Quoting Pipalicious
Cool.

I would only take them with the trend aswell. In general if the range is wide and clean I think it can work out quite well statistically in the longterm.

Did you take this gbp/usd trade? If not is there anything that you didnt like about it or that doesnt fit your criteria? Just wanting to see your thought process .

And ye im defo going to go and drive one of them! But im more of a ferrari chap. Especially the f430, my dream car, which will be paid with pips lol.

One of my ex-managers used to have the 360 spyder. But the f430.....mmm.....now...
Actually I don't see anything wrong with that trade. But I didn't take it, because I didn't really pay attention to that pair today.

EDIT: I don't know why, but I can't see the picture you posted.
  • #3,932
  • Feb 16, 2010 7:34am Feb 16, 2010 7:34am
I reviewed some of Hector's LOB stuff last night and I decided to set this trade up before I went to bed. I know that I broke some rules when taking this trade. Mainly, trading before the news announcement this morning. Also, not being there for the BPC but I lowered the lot size and I decided to risk it.

Here's how it worked....

Sell stop at 1.7583
Stop loss at 1.7626
Take profit at 1.7500

Looks like I could have stayed in down to 1.7400 but I'm happy with how it turned out.
Attached Image (click to enlarge)
Click to Enlarge Name: screenshot.50.jpeg Size: 491 KB
  • #3,933
  • Feb 16, 2010 7:39am Feb 16, 2010 7:39am
Quoting Pip Dawg
I reviewed some of Hector's LOB stuff last night and I decided to set this trade up before I went to bed. I know that I broke some rules when taking this trade. Mainly, trading before the news announcement this morning. Also, not being there for the BPC but I lowered the lot size and I decided to risk it.

Here's how it worked....

Sell stop at 1.7583
Stop loss at 1.7626
Take profit at 1.7500

Looks like I could have stayed in down to 1.7400 but I'm happy with how it turned out.
how did you decide on your sell stop?
  • #3,934
  • Feb 16, 2010 7:43am Feb 16, 2010 7:43am
Quoting Custos
how did you decide on your sell stop?
sorry, I mean stop loss, haha. A little tired today.
  • #3,935
  • Feb 16, 2010 7:45am Feb 16, 2010 7:45am
Quoting Custos
how did you decide on your sell stop?
At the time I was watching it the low of the sideways consolidation of the Toyko session was at 1.7593 and I just placed my sell stop 10 pips below that. Do you think that is a good position for the LOB?

In retrospect, I feel my stop loss was too great. Next time I think I will move it a tad closer.
  • #3,936
  • Feb 16, 2010 7:46am Feb 16, 2010 7:46am
Quoting Custos
how did you decide on your sell stop?

Well done PipDawg, indeed it looks like the money was on AUD pairs today
  • #3,937
  • Feb 16, 2010 7:49am Feb 16, 2010 7:49am
Quoting Custos
sorry, I mean stop loss, haha. A little tired today.
Oh stop loss...I think I was tired when I was setting it but I based it on something I think Hector said about the middle of the channel...I could be wrong on that. In hind sight, I think I should have placed it right above the RN's. I think the SL was too great for this trade.

What do you think?

There is something to be said about trading when too tired. Mistakes can be easily made by not thinking through things. Looking now this seems clear to me.
  • #3,938
  • Feb 16, 2010 7:50am Feb 16, 2010 7:50am
Quoting Pip Dawg
At the time I was watching it the low of the sideways consolidation of the Toyko session was at 1.7593 and I just placed my sell stop 10 pips below that. Do you think that is a good position for the LOB?

In retrospect, I feel my stop loss was too great. Next time I think I will move it a tad closer.
Good strategy, well done. hm, I also sometimes place trades for asian open breakouts. But I also find it quite difficult to decide on where my entry and where my stop should be.
  • #3,939
  • Feb 16, 2010 7:53am Feb 16, 2010 7:53am
Quoting Pip Dawg
Oh stop loss...I think I was tired when I was setting it but I based it on something I think Hector said about the middle of the channel...I could be wrong on that. In hind sight, I think I should have placed it right above the RN's. I think the SL was too great for this trade.

What do you think?

There is something to be said about trading when too tired. Mistakes can be easily made by not thinking through things. Looking now this seems clear to me.
Just for the record....I don't particularly like doing my trading while I sleep. I'm EST in the US and would much prefer to be there but that is 2 or 3am for me and I'm at work at 7:30. It just does not feel good to set it and go to bed...don't sleep well like that.
  • #3,940
  • Feb 16, 2010 8:01am Feb 16, 2010 8:01am
Quoting Pip Dawg
Oh stop loss...I think I was tired when I was setting it but I based it on something I think Hector said about the middle of the channel...I could be wrong on that. In hind sight, I think I should have placed it right above the RN's. I think the SL was too great for this trade.

What do you think?

There is something to be said about trading when too tired. Mistakes can be easily made by not thinking through things. Looking now this seems clear to me.
yeah, that is a problem I always have with placing orders in advance on LOB's or AOB's. Difficult to know in advance what price is doing and where entry and stop loss should be places.
That's why I just like to set touch trades while I sleep. Cause the stoploss and entry level is already predefined and it wouldn't make much difference if I am in front of the computer or not...
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