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Trend Trading All Pairs

  • #4,201
  • Feb 18, 2010 10:12am Feb 18, 2010 10:12am
Yeah, this trade met all my rules. As per my TT rules, i entered at 0.6995, that +/-5 pips off RN. I am still in demo, of course. Already closed out 1/2.

Read now that YUNERO took the same trade...good work.


Quoting Custos
by the way, a trade I entered before was nzd/usd. S/R level + trendline + 50% fib. The light blue lines mark the boundaries of the S/R level, I entered at the upper light blue line. Red dotted line is my stop loss. Let's see if it works out.
  • #4,202
  • Feb 18, 2010 10:15am Feb 18, 2010 10:15am
Quoting EntropyLad
I presume that you mean, the psychological issues never goes away...they get repressed...they become latent...ready to spring on your on at your moment of weakness. Psychological issues and their thousand cousins.





Create a checklist of the rules. When every rules is checked, go/jump. No hesistation, no re-thinking. That's the leap. As CUSTOS said in his signature "Plan intensely and act decisively without fear". This week i passed over two TT trades because they violated rule #4, 5, 7 of my TT trades. Rules are rules. From my...
And that is true but the 3SMA mehtod is not the only method I use, I use several methods. That EU was not taken using the 3 SMA rules. Also the EJ is still not a dead horse, it had a great bounce off the 61.8 fib level from the big move down on the 4 hour chart, and also the trend line was there the RN was there the FIB was there. So the setup was definately valid. It just decided it had enough, the only thing that I should have apid attention too a little better was the fact there was support so close by. But even that got breached through.

--NM
Attached Image (click to enlarge)
Click to Enlarge Name: EJ Setup 4hr.png Size: 33 KB
  • #4,203
  • Feb 18, 2010 10:18am Feb 18, 2010 10:18am
Quoting NightMoves
And that is true but the 3SMA mehtod is not the only method I use, I use several methods. That EU was not taken using the 3 SMA rules. Also the EJ is still not a dead horse, it had a great bounce off the 61.8 fib level from the big move down on the 4 hour chart, and also the trend line was there the RN was there the FIB was there. So the setup was definately valid. It just decided it had enough, the only thing that I should have apid attention too a little better was the fact there was support so close by. But even that got breached through.

--NM...
But the other I did not pay attention too either was the 1-2-3 off the bottom...
Attached Image (click to enlarge)
Click to Enlarge Name: EJ Setup 4hr.png Size: 34 KB
  • #4,204
  • Feb 18, 2010 10:21am Feb 18, 2010 10:21am
Quoting finswin56
I'm looking at the USD/JPY for a TT.
I don't like that it's breaking a TL right now, but I really like the 90.50 and 90.36 levels. By the time it gets there the ADR should be near its average.

It fits with my rules at 90.50. You have 61%, RN, S/R. and slanted trendline break and the rest. I didnt even see this earlier. Good eye. Good call.

UPDATE: Just made a brief look at the rest of the JPYs...same for G/J at 141.00. Didnt take that one either.

Yes, i am still in demo. But missed it nonetheless.
  • #4,205
  • Feb 18, 2010 10:29am Feb 18, 2010 10:29am
Man, i missed soo many trades today...i wish i was less busy. In fact, in 30minutes i will be off again, back to work.

Just realized how i missed a solid LOB on GBP/CAD short at exactly 7:15am LONDON TIME when the breakout happened. It was right under the 1.6400 RN.

Did anybody else catched it?
  • #4,206
  • Feb 18, 2010 10:39am Feb 18, 2010 10:39am
AUD/NZD at 1.2750 may be of interest as TT. Too early right now though.
  • #4,207
  • Feb 18, 2010 10:44am Feb 18, 2010 10:44am
Entropy,
The big difference between the EU trade and what was going to be the EJ trade, was the EU had no 1-2-3 at the bottom, the EJ did have it, and I did not see it there. But it was pretty plain to see, I just did not look.
--NM
  • #4,208
  • Feb 18, 2010 10:44am Feb 18, 2010 10:44am
Quoting NightMoves
But the other I did not pay attention too either was the 1-2-3 off the bottom...

Yeah, you are absolutely right. Compare that 1 -2-3 in EJ vs EU. The EUR/USD exhibits a new swing low pattern, while the EJ exhibits a higher low double bottom or higher low triangle - which indicates reversal tendencies.

UPDATE: Immediately after posting this...i realize that you've just posted the above(link below)...i think we missed each other by 1minute to be exact.
http://www.forexfactory.com/showpost...postcount=4207

Anyways, in the case of higher low triangle or higher low double bottom like the EJ....using the less aggressive counter trend line point A(120.68) and point B(121.38) will be better in my opinion. But with lower low double bottom or new swing low like the EU..aggressive, inner trendline may suffice.
  • #4,209
  • Feb 18, 2010 1:41pm Feb 18, 2010 1:41pm
Custos, which TT you are stalking ?
  • #4,210
  • Feb 18, 2010 1:45pm Feb 18, 2010 1:45pm
This looks like a valid B-P-C to me. Magenta line is S/R from way back on the daily chart. Would you have taken this trade?
Attached Image (click to enlarge)
Click to Enlarge Name: CADJPY 2-18-2010 12-40-14.jpg Size: 147 KB
  • #4,211
  • Feb 18, 2010 1:51pm Feb 18, 2010 1:51pm
Quoting MktScape
Custos, which TT you are stalking ?
hm, nothing worth mentioning, most pairs are a bit away from my entry points. USD/CAD is breaking through support right (blue line) now, maybe the retrace will be a good TT.
Attached is usd/cad H4. (By the way, I changed my layouts quite a bit, I find the black background a little bit more comfortable for the eyes).

What I play around right now a bit is to trade some really low spread pairs on the m5 chart, but they are not really setups, just placing trades on S/R levels with fast profits, that's more some scalping out of boredom.
Attached Image (click to enlarge)
Click to Enlarge Name: usdcad h4 18.2.2010.gif Size: 26 KB
  • #4,212
  • Feb 18, 2010 1:58pm Feb 18, 2010 1:58pm
I am at work....so will keep my writeup short for now....

What was your occupation prior to FTT.?

And BTW Monaco looks beautiful right next to the mediterranean sea.

I'll analyize the chart later in the evening once i reach home .... actually i have a company party in the evening so my evening is sort of screwed and probably the london session as well becuase if i reach home late then cant stay up for london ....

Quoting Custos
hm, nothing worth mentioning, most pairs are a bit away from my entry points. USD/CAD is breaking through support right (blue line) now, maybe the retrace will be a good TT.
Attached is usd/cad H4. (By the way, I changed my layouts quite a bit, I find the black background a little bit more comfortable for the eyes).

What I play around right now a bit is to trade some really low spread pairs on the m5 chart, but they are not really setups, just placing trades on S/R levels with fast profits, that's more some scalping out of boredom.
  • #4,213
  • Edited 3:51pm Feb 18, 2010 2:42pm | Edited 3:51pm
Quoting MktScape
I am at work....so will keep my writeup short for now....

What was your occupation prior to FTT.?

And BTW Monaco looks beautiful right next to the mediterranean sea.

I'll analyize the chart later in the evening once i reach home .... actually i have a company party in the evening so my evening is sort of screwed and probably the london session as well becuase if i reach home late then cant stay up for london ....
Before I used to be an auditor & tax consultant, I know it sounds quite boring. But made good money and learned quite a bit about structured thinking, common sense & constantly acquiring knowledge.
Haha, yeah it does look nice. I actually only lived in cannes (another town near monaco) for quite some time, but found it cooler to put my country to monaco.
But I actually moved back to my home country Austria (small country next to germany) since a month, since it's skiing season & I have been out of my home country for too long.
  • #4,214
  • Feb 18, 2010 3:38pm Feb 18, 2010 3:38pm
Crappy fed, raising rate just like that, not at a regular news announcement. got stopped out on three smaller trades now.
  • #4,215
  • Feb 18, 2010 3:56pm Feb 18, 2010 3:56pm
Quoting EntropyLad
AUD/NZD at 1.2750 may be of interest as TT. Too early right now though.
Was anybody able to hit this one? It went to a low of 1.2751 in one of my brokers..spread 6.5...couldnt get in at my customary +/- 5 pips off RN.

With each passing day and trade, CUSTOS, my respect for TT escalates....(it doesn hurt that i have yet to have a straight loss in any of my demo TT yet...)

What was your first TT loss, custos? Do you still remember?
  • #4,216
  • Feb 18, 2010 3:58pm Feb 18, 2010 3:58pm
Quoting EntropyLad
Was anybody able to hit this one? It went to a low of 1.2751 in one of my brokers..spread 6.5...couldnt get in at my customary +/- 5 pips off RN.
man, the fed just raised rates. Getting into any trade right now is a little risky. I saw it hit the level, but didn't wanna get into that, cause of that fact.
  • #4,217
  • Feb 18, 2010 4:01pm Feb 18, 2010 4:01pm
Quoting EntropyLad
Was anybody able to hit this one? It went to a low of 1.2751 in one of my brokers..spread 6.5...couldnt get in at my customary +/- 5 pips off RN.

With each passing day and trade, CUSTOS, my respect for TT escalates....(it doesn hurt that i have yet to have a straight loss in any of my demo TT yet...)

What was your first TT loss, custos? Do you still remember?
haha, great to hear that you like the TT's. Oh, on my scalping trades I sometimes have losses, but the account size I use is so small that it doesn't really matter. But on the bigger TT's I barely have a loss, except if I break my rules, like last time with usd/chf, when price accelerated fast and I didn't take the hint that it wants to go through that level.
learned my lesson there.
  • #4,218
  • Feb 18, 2010 4:01pm Feb 18, 2010 4:01pm
Quoting EntropyLad
Was anybody able to hit this one? It went to a low of 1.2751 in one of my brokers..spread 6.5...couldnt get in at my customary +/- 5 pips off RN.

With each passing day and trade, CUSTOS, my respect for TT escalates....(it doesn hurt that i have yet to have a straight loss in any of my demo TT yet...)

What was your first TT loss, custos? Do you still remember?
I got a demo in at 1.2773 and out at 1.2800. Price really bounced around.
  • #4,219
  • Feb 18, 2010 4:05pm Feb 18, 2010 4:05pm
AUD/USD TT long at 0.8900 will be good, baring any AUD news or USD news...and of course, if it takes at least TWO four hour candle to get there(0.8900) from 0.8950. Rules are rules. My preferred entry will be 0.8895.
  • #4,220
  • Feb 18, 2010 4:14pm Feb 18, 2010 4:14pm
I also like gbpusd, the level I like is marked by two light blue lines.
Attached Image (click to enlarge)
Click to Enlarge Name: gbpusd h4 18.2.2010.gif Size: 27 KB
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