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Trend Trading All Pairs

  • #6,301
  • Apr 13, 2010 7:19am Apr 13, 2010 7:19am
Cheers both, most helpful. Im just trying to find a way to remove the default ones now. I took GbpUsd Short at 1.541, im hoping dumb look helps me out but if not its all experience.
  • #6,302
  • Apr 13, 2010 7:46am Apr 13, 2010 7:46am
Quoting Mackem
Cheers both, most helpful. Im just trying to find a way to remove the default ones now. I took GbpUsd Short at 1.541, im hoping dumb look helps me out but if not its all experience.
Hope it works out, I am not seeing anything I want to get into at the moment...seems like things are still quite a mess...

--NM
  • #6,303
  • Apr 13, 2010 7:54am Apr 13, 2010 7:54am
I have to say, it has been awhile since I have seen things this messy out here, no real consistent direction on anything right now...hmmm might be one of those no trade weeks...up one day and down the next...

--NM
  • #6,304
  • Apr 13, 2010 9:46pm Apr 13, 2010 9:46pm
Quoting NightMoves
I have to say, it has been awhile since I have seen things this messy out here, no real consistent direction on anything right now...hmmm might be one of those no trade weeks...up one day and down the next...

--NM
NM,
good point, no trade week
will mark that down so that i don't get entice into low probability trades.
sometimes the market draw us newbies in oblivious to what the bigger picture is.
guess its time for housekeeping of charts
cheers
  • #6,305
  • Apr 14, 2010 4:50am Apr 14, 2010 4:50am
Hi Nightmoves, thanks for starting this thread. i've really learnt alot about this trading system, thanks to you. i just have a question:

*how many charts do you open per currency per? i openned 4charts for each pair i trade but most times i end up getting confused?

thanks..
As a man thinketh in his heart, so is he.
  • #6,306
  • Apr 14, 2010 5:12am Apr 14, 2010 5:12am
Quoting Naturalwest
Hey there!

This is my first post here, as you can see in my attached chart, i follow Hector's strategy, but in accordance with his new course.

Anyway, what i see scrolling through my charts, is EUR/AUD possible short opportunity at the top boundary of the trend channel.

A question for someone who is using his method for a while:
In this example, which one is the setup, and which one is the trigger chart?

Setup: H4 Trigger: H1 ? or Setup: H1 Trigger: M15 ?
He mentions in his course not to zoom in more than the trigger chart at swing...
I actually placed a short at 1.4686 yesterday when BPC formed on the 15M TF i got half of the trades out at 1.4633 and placed stop to BE so far it is now a risk-free trade
  • #6,307
  • Apr 14, 2010 7:00am Apr 14, 2010 7:00am
Quoting yemionline
Hi Nightmoves, thanks for starting this thread. i've really learnt alot about this trading system, thanks to you. i just have a question:

*how many charts do you open per currency per? i openned 4charts for each pair i trade but most times i end up getting confused?

thanks..
HI Yemionline,

I usually have anywhere from 2 to 3 charts open of the pair I am trading, most of the time 2 are open, I have the setup and trigger, and at times I will zoom in to a TF smaller than the trigger and look at the micropatterns too sometimes the smaller time frames can give you heads up as to when it might be ready for an entry, the reversal formations show up on them too, and as long as you have your larger time frame charts and you know where your tragets are going to be the smaller time frames can at times give you a better entry but not always.


--NM
  • #6,308
  • Apr 14, 2010 7:02am Apr 14, 2010 7:02am
Quoting piyeree
I actually placed a short at 1.4686 yesterday when BPC formed on the 15M TF i got half of the trades out at 1.4633 and placed stop to BE so far it is now a risk-free trade
Good Job!! The risk free trades are the ones we are looking for, bank some pips move to BE and your home free...then let the trend run its magic...

--NM
  • #6,309
  • Apr 14, 2010 7:11am Apr 14, 2010 7:11am
Quoting A 5
NM,
good point, no trade week
will mark that down so that i don't get entice into low probability trades.
sometimes the market draw us newbies in oblivious to what the bigger picture is.
guess its time for housekeeping of charts
cheers
Yeh there no sense jumping in just to be in, wait for the markets to get back to normal and take the easy trades, no reason to make this harder and riskier than it has to be.

--NM
  • #6,310
  • Apr 14, 2010 7:26am Apr 14, 2010 7:26am
Yesterday i was looking for a short entry on the EURAUD, but price consolidated at the upper end of the trend channel, so i waited for a better setup.

At the evening i checked the pair again, and i saw on the daily TF a pinbar formation, at a key level of confluence, so instead of pinpointing down my entry on the sorter TF's, i choose an other strategy, to set my sell stop order few pips below yesterday's candle, because i thought it is a valid setup, and bears can jump back into the trade, starting a whole new swing to the downside.

SL is aggressive, few pips above the mid-level of the candle, what is also above the descending trendline.

Entry: 1.4630
SL: 1.4683
1st TP: 1.4505
2nd TP: 1.4365

SL will be set to BE after my first TP is hit.

Attached Image (click to enlarge)
Click to Enlarge Name: euraud_d_0413e.gif Size: 28 KB
  • #6,311
  • Apr 14, 2010 7:32am Apr 14, 2010 7:32am
The AJ pair is looking rather interesting ADR has been reached for the day but it will be interesting to see what this pair does over the next day...

--NM
Attached Image (click to enlarge)
Click to Enlarge Name: AJ_H4.png Size: 29 KB
  • #6,312
  • Apr 14, 2010 7:33am Apr 14, 2010 7:33am
Quoting Naturalwest
Yesterday i was looking for a short entry on the EURAUD, but price consolidated at the upper end of the trend channel, so i waited for a better setup.

At the evening i checked the pair again, and i saw on the daily TF a pinbar formation, at a key level of confluence, so instead of pinpointing down my entry on the sorter TF's, i choose an other strategy, to set my sell stop order few pips below yesterday's candle, because i thought it is a valid setup, and bears can jump back into the trade, starting a whole new swing to the downside.

SL is aggressive,...
Yep I think it is going to be a very good trade. Looks really good, I am also short on that pair.

--NM
  • #6,313
  • Apr 14, 2010 7:44am Apr 14, 2010 7:44am
Quoting NightMoves
The AJ pair is looking rather interesting ADR has been reached for the day but it will be interesting to see what this pair does over the next day...

--NM

Yeah looks interesting, my sound alarm just went off for that pair. Now waiting for a breakout to the upside. In my opinion the first entry may come at night at CET, but definiately looks good.
  • #6,314
  • Apr 14, 2010 7:47am Apr 14, 2010 7:47am
The USDCAD is also showing a breakout in the direction of the trend...

--NM
Attached Image (click to enlarge)
Click to Enlarge Name: Breakout.png Size: 30 KB
  • #6,315
  • Apr 14, 2010 8:18am Apr 14, 2010 8:18am
Quoting Naturalwest
Yeah looks interesting, my sound alarm just went off for that pair. Now waiting for a breakout to the upside. In my opinion the first entry may come at night at CET, but definiately looks good.
I dont think we will get an entry today now that the ADR has already been reached, if it does break I dont think it will go far today so patience is key once again...

--NM
  • #6,316
  • Apr 14, 2010 8:30am Apr 14, 2010 8:30am
Is anyone looking at the usd/chf to go short?
  • #6,317
  • Apr 14, 2010 8:31am Apr 14, 2010 8:31am
Dear NM,


I am convinced that the system will survive over the market’s up and down.
But I encounter the following condition very often.
Looking for BPC, but the “C” goes only a very little of time and range. Therefore, S/L is triggered very often and that really eat up my profit.
How can I overcome this problem?

Thanks
Armadise

example: 2010,9Mar, AUDUSD
Attached Image(s) (click to enlarge)
Click to Enlarge Name: AUDUSD mar8 h1.png Size: 37 KB
Click to Enlarge Name: AUDUSD mar8 M15.png Size: 43 KB
  • #6,318
  • Apr 14, 2010 9:05am Apr 14, 2010 9:05am
Quoting Andy_G
Is anyone looking at the usd/chf to go short?
The CHF looks good, but I have been avoiding anythinig with CHF in it, the SNB cheats...LOL

--NM
  • #6,319
  • Apr 14, 2010 9:10am Apr 14, 2010 9:10am
Quoting Armadise
Dear NM,


I am convinced that the system will survive over the market’s up and down.
But I encounter the following condition very often.
Looking for BPC, but the “C” goes only a very little of time and range. Therefore, S/L is triggered very often and that really eat up my profit.
How can I overcome this problem?

Thanks
Armadise

example: 2010,9Mar, AUDUSD

Look at your pullbacks. If you have more 5 bars of pullback then scrap the setup and wait for a new one, if you go through the earlier posts you will see that 5 bar pullback is max for me, and if the PA looks iffy then I will pass on smaller pullbacks, on your charts there was horizontal resistance above the pullback, wait for it to clear that resistance, if there is no resistance then again no more than 5 bars anymore than that and I would scrap it and look for a nother entry.

Also remember that RN's count as S/R.

--NM

--NM
  • #6,320
  • Apr 14, 2010 9:13am Apr 14, 2010 9:13am
Quoting Armadise
Dear NM,


I am convinced that the system will survive over the market’s up and down.
But I encounter the following condition very often.
Looking for BPC, but the “C” goes only a very little of time and range. Therefore, S/L is triggered very often and that really eat up my profit.
How can I overcome this problem?

Thanks
Armadise

example: 2010,9Mar, AUDUSD

Here is what I am talking about look at the pullback....way too many bars...

--NM
Attached Image (click to enlarge)
Click to Enlarge Name: 7 bars of pullback.png Size: 171 KB
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