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Trend Trading All Pairs

  • #6,381
  • Apr 16, 2010 7:03am Apr 16, 2010 7:03am
so what kind of stops do you use? i believe he uses stops of 200-250k but he hasnt posted in a long time so not sure how he moves to be etc.

cld u explain how u trade that way?
Quoting Custos
yep, actually I am a frequent reader of DanUK's threads and find his method really good.
My main method is kind of a mix of brv's touch trades & danuk's thread with my own little twists. Overall I like his method a lot. Very simple.
  • #6,382
  • Apr 16, 2010 7:23am Apr 16, 2010 7:23am
Quoting coolshades
so what kind of stops do you use? i believe he uses stops of 200-250k but he hasnt posted in a long time so not sure how he moves to be etc.

cld u explain how u trade that way?
yeah, that is where I go a different route. His stops are way too large for my taste.
What I look at are a couple of things.
Attached is a chart of how I do things. Black is price, green/blue are S/R levels (at which I enter at the retrace) and red dotted are stops.
The green one is a higher time-frame S/R level, the blue ones are lower time-frame S/R levels.
Now concerning stops: they are kind of discretionary, but what I do is to put the stop behind an S/R level which I believe price will normally not break. (Sometimes it also helps using fibs. For example if the S/R level is at 50.0 then I will put my stop at or beyond 61.8% fib.) Each time I am adding a new position on the BLUE S/R levels, I will move my old stop to my new stop loss location behind the area I think price shouldn't break (behind blue S/R level).
And once my stop gets taken out all my accumulated positions will get liquidated immediately on that time-frame.
The stop of the position entered at the green S/R level will just get moved to b/e as soon as possible, but I will move that one only lower on higher time-frame swings (same as the scenario I described with the blue levels, but just on a higher time-frame).

Hope I didn't confuse you and if you have any other questions, don't hesitate to ask.
Attached Image (click to enlarge)
Click to Enlarge Name: example.gif Size: 9 KB
  • #6,383
  • Apr 16, 2010 7:50am Apr 16, 2010 7:50am
Quoting Custos
yep, actually I am a frequent reader of DanUK's threads and find his method really good.
My main method is kind of a mix of brv's touch trades & danuk's thread with my own little twists. Overall I like his method a lot. Very simple.
Does anyone have a link to the brv touch trade thread?

Thanks
  • #6,384
  • Apr 16, 2010 8:00am Apr 16, 2010 8:00am
Quoting bluemosaic
Does anyone have a link to the brv touch trade thread?

Thanks
this is the place
http://www.forexfactory.com/showthread.php?t=86429
  • #6,385
  • Apr 16, 2010 8:00am Apr 16, 2010 8:00am
Quoting bluemosaic
Does anyone have a link to the brv touch trade thread?

Thanks
here it is:
http://www.forexfactory.com/showthread.php?t=86429
  • #6,386
  • Apr 16, 2010 8:29am Apr 16, 2010 8:29am
if you dont mind, can you share with an example, maybe with eurousd or euroaud?

also are you saying that once any one of your lowest level trades gets taken off, you will liquidate all positions?

Quoting Custos
yeah, that is where I go a different route. His stops are way too large for my taste.
What I look at are a couple of things.
Attached is a chart of how I do things. Black is price, green/blue are S/R levels (at which I enter at the retrace) and red dotted are stops.
The green one is a higher time-frame S/R level, the blue ones are lower time-frame S/R levels.
Now concerning stops: they are kind of discretionary, but what I do is to put the stop behind an S/R level which I believe price will normally not break. (Sometimes it also helps using fibs....
  • #6,387
  • Apr 16, 2010 8:53am Apr 16, 2010 8:53am
Quoting coolshades
if you dont mind, can you share with an example, maybe with eurousd or euroaud?

also are you saying that once any one of your lowest level trades gets taken off, you will liquidate all positions?
here is an example of eur/usd. Now on some occasions as with the second entry I scale in. Cause I can't be sure it will retrace further or not. And the last two trades are the same example. I scaled in with half of my lotsize at the S/R level and since the trendline is quite near I entered the other half at the trendline. Now since we are so near to the trendline I moved my stop until it broke the trendline. All positions are liquidated. (This is just an example, unfortunately I haven't derived this strategy in december yet.)

Yeah it sometimes really depends if I liquidate all positions or not. Kind of discretionary, if I think price is retracing to hard, then I would liquidate, if I think price definitely should not go further then I would liquidate. Comes down to discretion. But no, I am not always liquidating them all.
Attached Image (click to enlarge)
Click to Enlarge Name: eurusd d1 16.4.2010.gif Size: 29 KB
  • #6,388
  • Apr 19, 2010 1:09am Apr 19, 2010 1:09am
Morning All,

Is my EU chart data going to the "muggins" or what, it shows a down spike 10 1.01000, 18 April 23.34 (Swiss clock)... 3400 pips in that spike?

Ouch! EU...
  • #6,389
  • Apr 19, 2010 7:18am Apr 19, 2010 7:18am
Quoting Paulette
Morning All,

Is my EU chart data going to the "muggins" or what, it shows a down spike 10 1.01000, 18 April 23.34 (Swiss clock)... 3400 pips in that spike?

Ouch! EU...
Hi Paulette
It happened on my charting platform at MIG's MT4 too.
In Oanda, there was no abnormaly
i have no clue what was the cause, i guess strange things does happen
cheers
  • #6,390
  • Apr 19, 2010 8:45am Apr 19, 2010 8:45am
You can edit the data in MT4 - to remove a bad spike.
Tools
History Center
Select Symbol
Select TF
Scroll for bad price
Select Edit and change to correct value

BR

Quoting A 5
Hi Paulette
It happened on my charting platform at MIG's MT4 too.
In Oanda, there was no abnormaly
i have no clue what was the cause, i guess strange things does happen
cheers
  • #6,391
  • Apr 19, 2010 9:07am Apr 19, 2010 9:07am
Quoting Big1red9
You can edit the data in MT4 - to remove a bad spike.
Tools
History Center
Select Symbol
Select TF
Scroll for bad price
Select Edit and change to correct value

BR
Hi Big1red9
Thanks so much for the help, i have mine corrected.
you have a nice day
cheers
  • #6,392
  • Apr 20, 2010 4:51am Apr 20, 2010 4:51am
AUD/CHF has broken out of the triangle on the daily and is now making a pullback. Would this be a high-probability trade to go long if there is a continuation?
Attached Image(s) (click to enlarge)
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  • #6,393
  • Apr 20, 2010 8:36am Apr 20, 2010 8:36am
Your welcome.

Quoting A 5
Hi Big1red9
Thanks so much for the help, i have mine corrected.
you have a nice day
cheers
  • #6,394
  • Apr 21, 2010 5:39am Apr 21, 2010 5:39am
Where has everyone gone???
  • #6,395
  • Apr 21, 2010 9:57am Apr 21, 2010 9:57am
eurjpy D1 looks good for bpc
  • #6,396
  • Edited 10:20am Apr 21, 2010 10:08am | Edited 10:20am
Quoting Armadise
eurjpy D1 looks good for bpc
It does indeed - on trigger 4hr, the PA pinbars looks a bit dodgy tho'... Will keep an eye on PA and see what is going where... EDIT: also approaching S/R level - if it manages to break and stay below, we might be in green pips.

In general JPY seems to be strengthening again, which is a good sign. I saw some pro's complaining else where as the market seems to have been not good for them today...

High probability, high probability discipline and focus...

Trade safe
  • #6,397
  • Apr 21, 2010 10:13am Apr 21, 2010 10:13am
Quoting Armadise
eurjpy D1 looks good for bpc

Armadise, should be careful because there is no definite trend

sorry for my English.

greetings.
  • #6,398
  • Apr 21, 2010 10:32am Apr 21, 2010 10:32am
gotta share this, just spotted on another thread trading trend as well someone saying he feels a bit like "Billy no mates" as no "trend is friend" for now...
  • #6,399
  • Apr 21, 2010 10:50am Apr 21, 2010 10:50am
Daily is definitely long.
4H (my trading chart) is at a convenient long zone.
1:2 RRR.
Attached Image(s) (click to enlarge)
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  • #6,400
  • Apr 21, 2010 3:07pm Apr 21, 2010 3:07pm
Quoting sistecno
Armadise, should be careful because there is no definite trend

sorry for my English.

greetings.
hm, it is kind of getting going. You just have to read some market signs. Weekly, definitely down. Daily is up, h4 down, h1 down.
Now three times down against one side up is pretty down in my opinion. Of course we can't be sure until the daily is also down biased. But I am already betting a bit of money on a downtrend continuation. Let's see if it pays off or not.

that is the eur/jpy we talk about here
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