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Trend Trading All Pairs

  • #4,421
  • Feb 22, 2010 6:13am Feb 22, 2010 6:13am
Quoting EntropyLad
Well, market opens in a few hours.

AUD/NZD tt trade at 1.2805 will suffice if TT rules are met.

I like how AUD/USD from last week is now at 0.8980
http://www.forexfactory.com/showpost...postcount=4234

TT trades rock!


Wonder if EUR/USD will go down after opening..from 1.36137 or if...

AUD/NZD expected long TT at 1.2800 is cancelled. consolidation at 1.2820 null that, it violates check rule #4.

http://www.forexfactory.com/showpost...postcount=3873

x
  • #4,422
  • Feb 22, 2010 6:16am Feb 22, 2010 6:16am
Quoting EntropyLad

GBP/USD at 1.5600 and 2.5650

NZD/CAD at 0.7305

AUD/CHF at 0.9600

ALL THESE ARE CONDITIONAL upon the TT rules stated here:
http://www.forexfactory.com/showpost...postcount=3873
Anybody did the TT short of NZD/CAD at 0.7300 area? I was debating 0.7295 or 0.7305[which fits with my rule # 6{+/- 5 pips of RN}]. I went for 0.7305. Unfortunately, it only went to a high of 0.7298. Anybody picked it up at 0.7300 area?
  • #4,423
  • Feb 22, 2010 7:16am Feb 22, 2010 7:16am
Quoting Pipalicious
Having looked at all these threads in the past (danuk, jacko, j16...) the one thing i can truly say about hectors "refined" entries is the fact that they take off *usually* with a lot of momentum. Mainly because like you posted it clears the retracement trendline, essentially clearing potential obstacles in its way. Thats my personal take on it.

Having said that they are all specialists within their own "niche" way of trading, with the underlying factor of simplicity

I seriously believe candle formations with TT trades are an excellent...
That combination of TT with candlesticks just proved itself in this case of NZD/CAD short...it goes to what we were both talking about - combining candle sticks pattern with TT trades. As you can see in this post, my expected entry for NZD/CAD short was 0.7305.
http://www.forexfactory.com/showpost...postcount=4422
But it never got there, instead, if you look on the hourly, it reaches 0.7398 then formed a hammer(or pinbar) -- a reversal pattern. Taking a short entry after that candle formation would have been a good trade. I missed the trade, of course(i was waiting for a 0.7305.)
  • #4,424
  • Feb 22, 2010 8:04am Feb 22, 2010 8:04am
Things are moving kind of slow so far today, kind of like watching the snail races...

--NM
  • #4,425
  • Feb 22, 2010 8:08am Feb 22, 2010 8:08am
Quoting EntropyLad
That combination of TT with candlesticks just proved itself in this case of NZD/CAD short...it goes to what we were both talking about - combining candle sticks pattern with TT trades. As you can see in this post, my expected entry for NZD/CAD short was 0.7305.
http://www.forexfactory.com/showpost...postcount=4422
But it never got there, instead, if you look on the hourly, it reaches 0.7398 then formed a hammer(or pinbar) -- a reversal pattern. Taking a short entry after that candle formation would have been a good trade....
I'd be careful trading with a pin bar of this nature. I assume the one you mean that I've pointed out with the arrow on the chart? Personally, I'd prefer to see a PB formed like the one I've drawn on the chart. The term 'pin' is short for pinocchio, as the length of the nose (or tail, depending on the bar's location) is lying to us as to what direction price is going. In essence, it shows a move towards a price, but then a flood of orders protecting that level, which forces price back down again. I like to see these located with some 'space' around them, and at clear levels of S/R. A bar of this nature would have got me interested in this trade. This is how I play them.

Best,
Chris
Attached Image (click to enlarge)
Click to Enlarge Name: nzdcad 4h 220210.gif Size: 16 KB
  • #4,426
  • Feb 22, 2010 8:30am Feb 22, 2010 8:30am
Quoting EntropyLad
That combination of TT with candlesticks just proved itself in this case of NZD/CAD short...it goes to what we were both talking about - combining candle sticks pattern with TT trades. As you can see in this post, my expected entry for NZD/CAD short was 0.7305.
http://www.forexfactory.com/showpost...postcount=4422
But it never got there, instead, if you look on the hourly, it reaches 0.7398 then formed a hammer(or pinbar) -- a reversal pattern. Taking a short entry after that candle formation would have been a good trade....
Just what Chris has said...

Also that the wick of the PB be AWAY from the current trend (chris´s chart).
Thats what interests me only.

Also on a side note have you looked into the 2 bar trailin stop?

mbqb11 uses it depending on the trade itself, especially when he considers theres enough room for the trade to potential play bigger moves.

Its something im looking into along with NM´s style...
  • #4,427
  • Feb 22, 2010 8:44am Feb 22, 2010 8:44am
There seems to be no interest by the big players today for some reason...maybe they know something we dont. In about half an hour the NY group should be out of the pep rally and then we will see what interest them.

--NM
  • #4,428
  • Feb 22, 2010 8:46am Feb 22, 2010 8:46am
Quoting Chris P
I'd be careful trading with a pin bar of this nature. I assume the one you mean that I've pointed out with the arrow on the chart? Personally, I'd prefer to see a PB formed like the one I've drawn on the chart. The term 'pin' is short for pinocchio, as the length of the nose (or tail, depending on the bar's location) is lying to us as to what direction price is going. In essence, it shows a move towards a price, but then a flood of orders protecting that level, which forces price back down again. I like to see these located with some 'space' around...
Yeah, i made a mistake there. I was looking at the 1HOUR CHART. I have posted a chart that explains what happened. Notes are written on the chart.

http://www.forexfactory.com/attachme...1&d=1266849904
xx
Attached Image (click to enlarge)
Click to Enlarge Name: nzdcad pinbar.gif Size: 42 KB
  • #4,429
  • Feb 22, 2010 8:50am Feb 22, 2010 8:50am
Quoting NightMoves
There seems to be no interest by the big players today for some reason...maybe they know something we dont. In about half an hour the NY group should be out of the pep rally and then we will see what interest them.

--NM
Nothing wrong with HOPE, today's UK session has been rather quite...
  • #4,430
  • Feb 22, 2010 9:07am Feb 22, 2010 9:07am
Quoting EntropyLad
Yeah, i made a mistake there. I was looking at the 1HOUR CHART. I have posted a chart that explains what happened. Notes are written on the chart.
Spot on
  • #4,431
  • Feb 22, 2010 9:14am Feb 22, 2010 9:14am
Quoting Pipalicious
Also on a side note have you looked into the 2 bar trailin stop?

mbqb11 uses it depending on the trade itself, especially when he considers theres enough room for the trade to potential play bigger moves.
I've not used the 2 bar trailing method myself, but I know Mike does use it subjectively. It all comes down to personal preference and how comfortable you are in the trade. The only times I would consider using such a method is at a swing high or low, when looking for a trend reversal.

Otherwise, I like the idea of NightMoves use of the 75% fib retrace as a point to watch when trailing a position. We all know that swings can retrace to the 61% fib line, so why not have a method to take that into account when trying to capture a larger move?

There's also the BAT, which can be used on shorter timeframes.

So many methods to trail, or do you just take profit at the first line of support/resistance?

Each to his own

Best,
Chris
  • #4,432
  • Feb 22, 2010 9:19am Feb 22, 2010 9:19am
Quoting NightMoves
There seems to be no interest by the big players today for some reason...maybe they know something we dont. In about half an hour the NY group should be out of the pep rally and then we will see what interest them.

--NM
The markets are acting like it's a holiday or something. It's funny, we always make sure we avoid all the news announcements when trading, yet that is what moves the markets. On a day with hardly any news coming out, it seems price has nothing to react to.

Best,
Chris
  • #4,433
  • Feb 22, 2010 10:04am Feb 22, 2010 10:04am
a relevant quote I think - James16:

"why not just wait for 3 to 5 great set ups a month and take a break on them and be a hero 90 percent of the time and make the goat trades be a small loss at the most?

breakeven is hero status to my account and always will be.

im actually proud of myself when i see a 30,40 or 50 pip move come back and stop me out at breakeven on a daily chart.

i dont give a rats ass if it shoots off for 200 pips and leaves me behind.

i only give a rats ass when i screw up and hope for something instead of doing what i know works.

so what works?

coming to the realization that a certain percentage of those 30 pip moves where i moved my stop to breakeven will shoot off to 200 pips BEFORE stopping me out at breakeven.

I will say it again for the umteenth time.

when 200 pips is worth your current yeary salary this will no longer be hard for you.

IM NOT WITHOUT EMPATHY FOR ANY OF YOU. I HAVE BEEN IN YOUR SHOES."
http://www.forexfactory.com/showpost...ostcount=29519
  • #4,434
  • Feb 22, 2010 10:17am Feb 22, 2010 10:17am
Anyone watching this pair it now breaking down (RN) on H1 ...i would wait for a BPC of this RN.
  • #4,435
  • Feb 22, 2010 10:18am Feb 22, 2010 10:18am
Quoting NightMoves
There seems to be no interest by the big players today for some reason...maybe they know something we dont. In about half an hour the NY group should be out of the pep rally and then we will see what interest them.

--NM

Hmmm....GBP/JPY may be getting ready: H4/H1.

UPDATE: apparently MKTSCAPE and I are both looking at the same thing: http://www.forexfactory.com/showpost...postcount=4434

We missed each other post by 1 minute, it looks like.
  • #4,436
  • Feb 22, 2010 10:25am Feb 22, 2010 10:25am
Sittin on about 40 pips right now on the CADJPY trend collapse, if that is what is happening, we will see, SL is at BE and if it continues I am going to use the 75% 40 pip min retracement to follow it.

--NM
  • #4,437
  • Feb 22, 2010 10:28am Feb 22, 2010 10:28am
Quoting NightMoves
Sittin on about 40 pips right now on the CADJPY trend collapse, if that is what is happening, we will see, SL is at BE and if it continues I am going to use the 75% 40 pip min retracement to follow it.

--NM
man, if that is a true trend collapse(TC)...man...you will make a boatload of pips. Of course, we will see....

What is your rationale for entry? if you dont mind....
  • #4,438
  • Feb 22, 2010 10:30am Feb 22, 2010 10:30am
Yes we did miss by a minute
Quoting EntropyLad
Hmmm....GBP/JPY may be getting ready: H4/H1.

UPDATE: apparently MKTSCAPE and I are both looking at the same thing: http://www.forexfactory.com/showpost...postcount=4434

We missed each other post by 1 minute, it looks like.
  • #4,439
  • Feb 22, 2010 10:40am Feb 22, 2010 10:40am
Here the charts that I made the decision from, I am not sure its a full fledged collapse yet, but I am at BE so now time will tell...

--NM
Attached Image(s) (click to enlarge)
Click to Enlarge Name: Trend Collapsedaily.png Size: 63 KB
Click to Enlarge Name: Trend Collapse.png Size: 67 KB
  • #4,440
  • Feb 22, 2010 10:48am Feb 22, 2010 10:48am
Quoting NightMoves
Here the charts that I made the decision from, I am not sure its a full fledged collapse yet, but I am at BE so now time will tell...

--NM

It was a risky trade to say the least, but I am at BE so everything is off the table at this point if it is not a collapse.

--NM
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