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Trend Trading All Pairs

  • #5,701
  • Mar 23, 2010 3:02pm Mar 23, 2010 3:02pm
Quoting NightMoves
Thats is kind of similar to the Matingale MM of trading, kind of risky imo but it can be very profitable as long the market keeps going you can make a boat load, but if it goes the other way the losses can add up in hurry.
--NM
yeah, I definitely want to avoid it being a martingale kind of system. That's why I was thinking of how to limit my risk but increase my positions at the same time....
  • #5,702
  • Mar 23, 2010 3:08pm Mar 23, 2010 3:08pm
Anyone watching the EA pair? Looks like it just fell into a bottomless pit, I have been out all day so I am just looking at the charts and came across the EURAUD falling into the depths.

--NM
Attached Image (click to enlarge)
Click to Enlarge Name: EA Bottomless pit.jpg Size: 182 KB
  • #5,703
  • Mar 23, 2010 3:12pm Mar 23, 2010 3:12pm
Quoting NightMoves
Anyone watching the EA pair? Looks like it just fell into a bottomless pit, I have been out all day so I am just looking at the charts and came across the EURAUD falling into the depths.

--NM
yeah, I am waiting for a retracement back up to short it from there.
  • #5,704
  • Mar 23, 2010 3:16pm Mar 23, 2010 3:16pm
Quoting Custos
yeah, I am waiting for a retracement back up to short it from there.
That is exactly what I am looking for too, I think the FIB target levels will hold pretty true on this for a while...

--NM
  • #5,705
  • Mar 23, 2010 3:50pm Mar 23, 2010 3:50pm
Quoting NightMoves
That is exactly what I am looking for too, I think the FIB target levels will hold pretty true on this for a while...

--NM
Hi,

Have recently started following this thread and really like it.
Also discovered Hector's great videos recently and have become a big fan of his approach and method of teaching.

Apologies if my questions sound nieve...

Regarding this trade, would you take entry after waiting for retraction at 1.4681 (bottom of swing low prior to the retraction) and what would target be - would it be 1.4600?

Many thanks
Simon
  • #5,706
  • Mar 23, 2010 8:22pm Mar 23, 2010 8:22pm
Quoting bluemosaic
Hi,

Have recently started following this thread and really like it.
Also discovered Hector's great videos recently and have become a big fan of his approach and method of teaching.

Apologies if my questions sound nieve...

Regarding this trade, would you take entry after waiting for retraction at 1.4681 (bottom of swing low prior to the retraction) and what would target be - would it be 1.4600?

Many thanks
Simon
Hi Simon,
I would rate for a larger retracement and then see where the BPC occurs, right now it is a pretty steep drop so my entry is still a distance away. But I am going to be watching it, I normally use the 4 hour TF for my setups and the 1 hour and smaller for my trigger charts.

--NM
  • #5,707
  • Mar 23, 2010 8:47pm Mar 23, 2010 8:47pm
Quoting Custos
wow, really quiet today. where is everybody?

new idea/concept: adding positions.
Let's say we got a good touch trade in direction of the trend. Now it would be reasonable to assume that the trend continues.
By adding positions we can exploit the whole new swing to the downside.
What I wanna do here is to add position every certain number of pips (50 pips for example) depending on the time-frame and currency pair.
Several questions/problems arise here:
1. how to define this certain number of pips? Should we just set limit orders at each...
Hi Custos
i assume that in situations like what you have described, the charts are potentially showing a continuation of the trend, eg. when the 4H and 1H TF are in sync with the D1 setup.
in this scenario, can we manually move both the Stop and TP(s) positions simultaneously downwards without taking any or half your position off as per your example. this should negate the need to taking off half your position and 'reloading' again thereafter.
similarly, this will still permit you to profit from the ride in the trend.
just my impulse reaction to your post
thanks
  • #5,708
  • Mar 23, 2010 9:57pm Mar 23, 2010 9:57pm
Quoting Paulette
Now which is it - the Entropy or the E_Lad? Confusion rules...
Whatever it was I see he got busted again.

Stick with the original Laddie. I liked it!
  • #5,709
  • Edited 10:36am Mar 24, 2010 1:31am | Edited 10:36am
Quoting NightMoves
Anyone watching the EA pair? Looks like it just fell into a bottomless pit, I have been out all day so I am just looking at the charts and came across the EURAUD falling into the depths.

--NM
I am in there, entry was 1.4745, stop to BE and +50 at TP1, I am monitoring it per RN as I am not sure what could be next.

UPDATE: Stopped out at 1.4675 level, +50 TP1, then +70 that was it...
  • #5,710
  • Mar 24, 2010 1:37am Mar 24, 2010 1:37am
Quoting A 5
Hi Custos
i assume that in situations like what you have described, the charts are potentially showing a continuation of the trend, eg. when the 4H and 1H TF are in sync with the D1 setup.
in this scenario, can we manually move both the Stop and TP(s) positions simultaneously downwards without taking any or half your position off as per your example. this should negate the need to taking off half your position and 'reloading' again thereafter.
similarly, this will still permit you to profit from the ride in the trend.
just my impulse reaction to...
thanks for your comments, also good point of not taking off half initially and just move the stop. Have to try that out as well.

thanks mate
  • #5,711
  • Mar 24, 2010 6:16am Mar 24, 2010 6:16am
Quoting Paulette
I am in there, entry was 1.4745, stop to BE and +50 at TP1, I am monitoring it per RN as I am not sure what could be next.
Looks like your trade is going rather well...Good Job!!

--NM
  • #5,712
  • Mar 24, 2010 6:29am Mar 24, 2010 6:29am
My EU trade finally got moving again too.

--NM
Attached Image (click to enlarge)
Click to Enlarge Name: H4 EU Trade.png Size: 36 KB
  • #5,713
  • Mar 24, 2010 6:38am Mar 24, 2010 6:38am
Quoting NightMoves
Looks like your trade is going rather well...Good Job!!

--NM
Thanks NM, this morning has been rather quite on the trade, good thing I was not here most of the time... Lets see what happens later today
  • #5,714
  • Mar 24, 2010 6:40am Mar 24, 2010 6:40am
Quoting NightMoves
My EU trade finally got moving again too.

--NM
This is a good trade - Job Well Done... Lets hope it heads for Sept 2008 low... That would be really cool...
  • #5,715
  • Mar 24, 2010 6:49am Mar 24, 2010 6:49am
Quoting Paulette
This is a good trade - Job Well Done... Lets hope it heads for Sept 2008 low... That would be really cool...
I really think we are going to see some where in the 1.2800 or so before we get any really strong reversals, I have moved my soft target to 1.2950 and will readjust it if it gets that far.

--NM
  • #5,716
  • Mar 24, 2010 6:52am Mar 24, 2010 6:52am
Quoting A 5
Hi Custos
i assume that in situations like what you have described, the charts are potentially showing a continuation of the trend, eg. when the 4H and 1H TF are in sync with the D1 setup.
in this scenario, can we manually move both the Stop and TP(s) positions simultaneously downwards without taking any or half your position off as per your example. this should negate the need to taking off half your position and 'reloading' again thereafter.
similarly, this will still permit you to profit from the ride in the trend.
just my impulse reaction to...
Hi Guys,

I agree with A5, I think possibly 2 exit strategies would be a better way to go:
1) as per normal offload @ R:R = 1:1, then to TP2 at desired % offload;
2) based on price action, plan your trade as per exit strat 1, however if PA is fast thru TP1 and continues to TP2, then bring SL in to BE as price @ TP1, but hold full stake possibly to TP2 and then start offloading.

I move my SL manually thru the various S/R levels / TP's depending on PA and allowing the market space to move.

Is there a magic formula out there that will allow us to capture full movement at full stake - I guess if you keep moving your SL to BE and TP's you will have a level of success in this way too, but then you have to leave room for the market to move and also what will the effect be on the pshyc bank?
  • #5,717
  • Mar 24, 2010 7:04am Mar 24, 2010 7:04am
Quoting NightMoves
I really think we are going to see some where in the 1.2800 or so before we get any really strong reversals, I have moved my soft target to 1.2950 and will readjust it if it gets that far.

--NM
yeah, fundamentally I think the usd has to devalue pretty soon. The FED pumped 1 trillion $ into the market last year, there's gotta be some kind of inflation. And I don't think that greece is still a big problem. I really don't think that the EU will kick greece out or let it default. Thus I think the eur/usd will find a bottom in the upcoming few weeks.

What do you guys think?
  • #5,718
  • Mar 24, 2010 7:13am Mar 24, 2010 7:13am
Quoting Custos
yeah, fundamentally I think the usd has to devalue pretty soon. The FED pumped 1 trillion $ into the market last year, there's gotta be some kind of inflation. And I don't think that greece is still a big problem. I really don't think that the EU will kick greece out or let it default. Thus I think the eur/usd will find a bottom in the upcoming few weeks.

What do you guys think?
Yep I agree, I think we have some distance yet before we see the reversal, the EU is really seeing some bad times right now, and I am no economist but I do know they need to come to sort of agreement before they dig a deeper hole. Everything runs in cycles and the economy is no different what makes this different this time is the way the economies are intertwined and now what ever happens one will effect all.

Yesrs ago it was not like like that, if a country had fallen on bad times they bailed themselves out but those days are gone now because all the economies are tied together in one big global network so imo it is much harder to climb out of a hole than it was 60 or 70 years or even 30 years ago.

--NM
  • #5,719
  • Mar 24, 2010 7:16am Mar 24, 2010 7:16am
Quoting Custos
yeah, fundamentally I think the usd has to devalue pretty soon. The FED pumped 1 trillion $ into the market last year, there's gotta be some kind of inflation. And I don't think that greece is still a big problem. I really don't think that the EU will kick greece out or let it default. Thus I think the eur/usd will find a bottom in the upcoming few weeks.

What do you guys think?
I am thinking some more downward movement on EUR/USD, but gradual.

This is an interesting view I received "Intraday Market Thought: EURUSD finally breaks below $1.35 over twoEURUSD finally breaks below $1.35 over two consecutive sessions (US and Asia) for the first time since May 2009. CONGESTION STANDS between $1.3415 and $1.3465, with the former being the 61.8% retracement of the 1.2442-1.5129 rally, and the latter (more relevant support) being the 76.4% retracement of the 1.2885-1.5129 rally. Bottom line, traders will eye $1.34 as the next major foundation, before $1.3120. THE USD INDEX is POINTS AWAY FROM A GOLDEN CROSS FORMATION, whereby the 100-day MA 77.92 is to cross above the 200-day MA (78.07) for the first time since July 2009. Recall we ALERTED READERS back on Jan 19 <> of the DEAD CROSS formation in EURUSD (50-day MA falling below the 100-day MA) 18 hours before it occurred, which triggered a 230pip decline the next day. Much is being said about rumours of an IMF-led deal for Greece, but the technicals suggest any bounce will be short-lived. UK BUdGET ANNOUNCEMENT will seek to balance between announcing a reduction in the deficit with a combination of spending cuts and tax hikes (probably in capital gains), which will raise the question as to whether the BoE will be forced into prolonged QE. "
  • #5,720
  • Mar 24, 2010 7:18am Mar 24, 2010 7:18am
Quoting Paulette
Hi Guys,

I agree with A5, I think possibly 2 exit strategies would be a better way to go:
1) as per normal offload @ R:R = 1:1, then to TP2 at desired % offload;
2) based on price action, plan your trade as per exit strat 1, however if PA is fast thru TP1 and continues to TP2, then bring SL in to BE as price @ TP1, but hold full stake possibly to TP2 and then start offloading.

I move my SL manually thru the various S/R levels / TP's depending on PA and allowing the market space to move.

Is there a magic formula out there that will allow...
thanks for your comments, really appreciated. Yeah, a lot of things to consider. haha, but for me trading is anyways a never ending journey of trying out new things and becoming better in exploiting moves.
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