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Trend Trading All Pairs

  • #6,701
  • May 31, 2010 10:12am May 31, 2010 10:12am
Quoting MktScape
Hi Custos,
When i saw 'hoangtuan' chart ...two points came to my mind based on my accumulated experience ...he sold a bit early and S/L is too close.

most likely .... pirce will take a hit at the resitance level and stop out ... my preferred S/L would be about 50 pips away from the resistance level to prevent being stopped out by a pin bar .... but i am practicing to achieve consistency.
yep, only practice will get you moving forward
  • #6,702
  • May 31, 2010 11:18am May 31, 2010 11:18am
Quoting Custos
yep, only practice will get you moving forward


By the way I have got a breakthrough in being able to connect to a live application from my office. I tried ForeX VPS, MetaTrader etc ...nothing works due to the firewall. However, I tried FXCM Trading Station and its connecting somehow .... hmmm. So if I stick with H4 i feel that i would be able to progress at a faster pace. But i have to get acquainted with this software now before i can place a trade.

Now that I am able to connect, I am thinking about a alerting solution at specified levels. For which I'll be setting up my mini laptop at home to send email alerts and once i get the alert i can log on to FXCM Trading station and monitor more closely and take the trade.

I'll see if there is a good web-based platform which might be available because if I save my setting for desktop based platform i.e. FXCM Trading station then it save all the data on my office computer hence ...wont be available to me at my home computer.

I am hoping that this software continue to work.
  • #6,703
  • Edited 11:53am May 31, 2010 11:25am | Edited 11:53am
Quoting dlanor nahc
I'm in a similar situation.
if u need web-based access you might want to look at gft....their web charting platform is pretty good
I just looked at GFT web-based plast form and it looks cool ...however I have not yet tried it using from my office I hope it works and the ports are not blocked by the firewall.

Thanks for the suggestion though.
  • #6,704
  • May 31, 2010 12:26pm May 31, 2010 12:26pm
Quoting HoangTuan
Yes , that's right . With me it's key of everything in life too .
I'm 17 years old now . I will do my best to be profitable before 20 , I have left school to do my own business ( winsocks.net ) , I known that I will lose many things if I left school ....but I want to be successful before my parents was old and left me......I want to bring a good life for all people around me ( parents , family....)....
Again ! Thank you for your kind words and sorry for my bad english
Regards !
wish you well mate
do well

but dont gamble in this game
traders are long term players

people that play 5 mins and 15 mins are the losers
  • #6,705
  • May 31, 2010 12:41pm May 31, 2010 12:41pm
Quoting swano
wish you well mate
do well

but dont gamble in this game
traders are long term players

people that play 5 mins and 15 mins are the losers
well, I partly agree with that. 5 and 15 min time-frames are so extremely difficult, it is hard to profit from them and normally you will lose in those time-frames.
Having said that, I know a guy who is extremely successful using these time-frames alone. But not my cup of tea.
  • #6,706
  • Edited 1:43pm May 31, 2010 1:38pm | Edited 1:43pm
Quoting Custos
it really all comes down to psychology. Finding a strat that works is not enough in my opinion. It needs to work and fit your psychology. For example I like to be in the market at all times and I am impatient but very disciplined. Now you have to kind of define your psychology structure and build a successful strategy around that. That's the only way to go from a losing or mediocre trader to an outstandingly profitable trader, cause then trading is not anymore an analytical (work), but an intuitive thing (fun).
And that requires you to do a lot...
also, entry important. however managing your exit a gajillion times more important. lol the pyschology of losing properly is more important than the psychology of winning. there are many days where i would have been up a ton more if i had managed my exit differently.

same reason i don't get in fights. a lot in life is really just a game of probabilities. you could be the greatest fighter in the world but a freak unexpected blow can still knock you out. hence the stops.

we've also probably all done that one trade while we were really angry without doing ZERO analysis. that's always funny. now i'm kinda rambling. lol but futures are closed. LOLOOOOOOOOLLLOOOLOLL
  • #6,707
  • May 31, 2010 11:51pm May 31, 2010 11:51pm
My FXCM Metatrader 4 Demo stopped working all of a sudden .... I uninstalled it ...reinstalled it ...created new account ...no use.

It keeps showing no connection. I have spent a lot of my time in trying to fix it however no use. I'll switch the broker for demo tomorrow.

it too late ....right now.
  • #6,708
  • Jun 1, 2010 12:06am Jun 1, 2010 12:06am
Quoting MktScape
My FXCM Metatrader 4 Demo stopped working all of a sudden .... I uninstalled it ...reinstalled it ...created new account ...no use.

It keeps showing no connection. I have spent a lot of my time in trying to fix it however no use. I'll switch the broker for demo tomorrow.

it too late ....right now.
it's probably a server connection issue (something you can't do anything about). That you have with all metatrader platforms once in a while. Nothing is perfect.
  • #6,709
  • Edited 2:35am Jun 1, 2010 2:05am | Edited 2:35am
Quoting Custos
it's probably a server connection issue (something you can't do anything about). That you have with all metatrader platforms once in a while. Nothing is perfect.
After spending hours yesterday and today in trying to make it work finally it appears to be working again. However in the whole process i have lost all the settings, templates and Profiles. Now i would have to set it up from scratch.

i also looked into GFT web based platform 'Deal Book 360' which appeared to be a very good application however GFT rep advise that they are no more offiering services for Canada ....since government here as classified Forex as securities and they dont have license to deal in securities.

I was wondering which other reliable broker offers a good web-based trading platform?

EDIT: these brokers and platforms appears good any experiences?

http://www.ac-markets.com/trading-so...sh-trader.aspx
https://www.fxpro.com/webtrader
  • #6,710
  • Jun 1, 2010 2:59am Jun 1, 2010 2:59am
Mbtrading also has a web-platform. Not sure though how good it is. You have to check it out. Cause I use the standard platform.

Quoting MktScape
After spending hours yesterday and today in trying to make it work finally it appears to be working again. However in the whole process i have lost all the settings, templates and Profiles. Now i would have to set it up from scratch.

i also looked into GFT web based platform 'Deal Book 360' which appeared to be a very good application however GFT rep advise that they are no more offiering services for Canada ....since government here as classified Forex as securities and they dont have license to deal in securities.

I was wondering which other...
  • #6,711
  • Jun 1, 2010 7:52am Jun 1, 2010 7:52am
Quoting MktScape
After spending hours yesterday and today in trying to make it work finally it appears to be working again. However in the whole process i have lost all the settings, templates and Profiles. Now i would have to set it up from scratch.

i also looked into GFT web based platform 'Deal Book 360' which appeared to be a very good application however GFT rep advise that they are no more offiering services for Canada ....since government here as classified Forex as securities and they dont have license to deal in securities.

I was wondering which other...
Hey MktScape,

One of my mates trades live with oanda. i think it has a web based platform.

however, the charts are horrendous lol. so he uses mt4 to chart and punches his orders into oanda.


hope that helps although i imagine you already knew

pip
  • #6,712
  • Jun 1, 2010 7:58am Jun 1, 2010 7:58am
I got a problem, guys.
I want to zone in on only a handful of pairs like 5 pairs, but not sure which are the best.
Right now I have my best 4 ranked according to ATR/spread and popularity.
eur/usd, gbp/usd, eur/jpy & gbp/jpy
I would like to know which pairs you guys like and why.
The reason I am asking this is, because I get way too many entry signals a day if I trade 20 pairs and wanna cut down now to 4-5 pairs.
  • #6,713
  • Jun 1, 2010 8:07am Jun 1, 2010 8:07am
Quoting Custos
I got a problem, guys.
I want to zone in on only a handful of pairs like 5 pairs, but not sure which are the best.
Right now I have my best 4 ranked according to ATR/spread and popularity.
eur/usd, gbp/usd, eur/jpy & gbp/jpy
I would like to know which pairs you guys like and why.
The reason I am asking this is, because I get way too many entry signals a day if I trade 20 pairs and wanna cut down now to 4-5 pairs.
its funny you mention that because i was considering doing something similar aswell.

mainly to reduce screen time for me.

however, i havent made a list as of yet. although for me eu/gbp and gbp/chf are defo not of my interest.

eur/gbp is slow and "time-wise" i consider it more efficient to invest time with other currencies.

gbp/chf just gives me the urghh feeling lol. way to messy for my type.


either way thats my opinion custos.

i think what your doing is a very good way to zone in on solid trades and not stress over so many signals. ditto to you dude!


pip
  • #6,714
  • Jun 1, 2010 8:29am Jun 1, 2010 8:29am
Yeah, I didn't have this problem before, but now getting so many signals all over the place almost every 20 min. So I am kind of losing sight. That's why I wanna zone in and rather trade larger lots instead of spreading them out.
It's just required by my new strat.
Quoting Pipalicious
its funny you mention that because i was considering doing something similar aswell.

mainly to reduce screen time for me.

however, i havent made a list as of yet. although for me eu/gbp and gbp/chf are defo not of my interest.

eur/gbp is slow and "time-wise" i consider it more efficient to invest time with other currencies.

gbp/chf just gives me the urghh feeling lol. way to messy for my type.


either way thats my opinion custos.

i think what your doing is a very good way to zone in on solid trades and not stress over so many signals. ditto...
  • #6,715
  • Edited 3:01pm Jun 1, 2010 8:57am | Edited 3:01pm
Quoting Pipalicious
Hey MktScape,

One of my mates trades live with oanda. i think it has a web based platform.

however, the charts are horrendous lol. so he uses mt4 to chart and punches his orders into oanda.


hope that helps although i imagine you already knew

pip
Hello ....good you see you again. Where have you been?

I need a good charting package with Alerts and it should save the analysis done on the charts.

I am researching for a good broker/web based charting package .... since I am now able to connect from my office via FXCMs Trading App (Marketscope) therefore I may not need the web based platform at all.

I'll setup MT4 demo to send alerts from my home computer and if i receive an alert during my work hours and i'll take the trade. I hope this works out well .... if not then I'll go for the web based platform.
  • #6,716
  • Jun 1, 2010 9:02am Jun 1, 2010 9:02am
Quoting NightMoves
Here is how I set my entries, looking at the chart, we are in a down trend so I am looking to short this pair, You can see it has broken the retracement line, price is bouncing off...
hi

being a newbie iam finding some of your techniques hard to understand. what do you mean when you say round numbers, fibonacci, retracement pullback, being 'near' the sma lines etc. it is not very clear from this chart. can you possibly explain each term giving examples ? and how they are applied.
this will help me a great deal.

thanks
  • #6,717
  • Jun 1, 2010 9:24am Jun 1, 2010 9:24am
Okay, if you have no idea, then start with www.babypips.com. It's a good website for newbies, which explains everything about trading.

cheers
Quoting whatfx
hi

being a newbie iam finding some of your techniques hard to understand. what do you mean when you say round numbers, fibonacci, retracement pullback, being 'near' the sma lines etc. it is not very clear from this chart. can you possibly explain each term giving examples ? and how they are applied.
this will help me a great deal.

thanks
  • #6,718
  • Jun 1, 2010 9:58am Jun 1, 2010 9:58am
Quoting Custos
I got a problem, guys.
I want to zone in on only a handful of pairs like 5 pairs, but not sure which are the best.
Right now I have my best 4 ranked according to ATR/spread and popularity.
eur/usd, gbp/usd, eur/jpy & gbp/jpy
I would like to know which pairs you guys like and why.
The reason I am asking this is, because I get way too many entry signals a day if I trade 20 pairs and wanna cut down now to 4-5 pairs.
Custos ... other than the above, two pairs come to my mind ...USD/CHF and AUD/USD as they both would be quite liquid.

I would choose one of them based on pattern clarity ... i mean one with less erratic movements.
  • #6,719
  • Jun 1, 2010 10:09am Jun 1, 2010 10:09am
Quoting MktScape
Custos ... other than the above, two pairs come to my mind ...USD/CHF and AUD/USD as they both would be quite liquid.

I would choose one of them based on pattern clarity ... i mean one with less erratic movements.
thanks man, appreciate your reply
  • #6,720
  • Jun 1, 2010 4:25pm Jun 1, 2010 4:25pm
Quoting Custos
I got a problem, guys.
I want to zone in on only a handful of pairs like 5 pairs, but not sure which are the best.
Right now I have my best 4 ranked according to ATR/spread and popularity.
eur/usd, gbp/usd, eur/jpy & gbp/jpy
I would like to know which pairs you guys like and why.
The reason I am asking this is, because I get way too many entry signals a day if I trade 20 pairs and wanna cut down now to 4-5 pairs.
As nice as volatility is on jpy crosses, I find they are all too correlated to trade more than 1/2, if only looking at a few pairs. With that being said, I focus on eur/usd, usd/jpy, eur/gbp, gbp/cad, and looking to add maybe aud/chf. I find this combo keeps it so i'm not watching the same market movements, more or less, on 4 charts. It also gives a broad spectrum with eur, usd, jpy, gbp, and cad. The gbp cross/base pairs aren't usually correlated so that works alright. Just personal preference I guess, but I haven't been in forex too long - just other markets.
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