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Trend Trading All Pairs

  • #6,921
  • Jun 17, 2010 1:00am Jun 17, 2010 1:00am
Quoting MktScape
I think it would be a good idea to stick with fewer pairs for the range trading methodology. How many pairs you are working with for the trend based touch trades?
For trend based touch trades I use all pairs I have on my platform.
  • #6,922
  • Edited 3:40am Jun 17, 2010 2:06am | Edited 3:40am
Hi All,

GU - just gone into short, +30 for now; entry 1.4700

Eur/jpy - confluence @ 112.00 - 111.85
usd/chf - 1.1330 confluence
aud/usd - breaking with trend below .86

maybe some pics later, but confluence (TL, RN, Fib's, S/R, CTL)

(EDIT: a lot of counter trend momentum, candles too big, staying on sideline for now)

Trade safe
  • #6,923
  • Jun 17, 2010 2:29am Jun 17, 2010 2:29am
Quoting Paulette
Hi All,

GU - just gone into short, +30 for now; entry 1.4700

Trade safe

Hi Paulette

What is you TP target?
  • #6,924
  • Jun 17, 2010 2:57am Jun 17, 2010 2:57am
Quoting CharlesSA
Hi Paulette

What is you TP target?
Hi Charles

TP 1 always = SL value / first S/R level on the way down; For now it looks like market is retesting the S/R level it just popped thru from below;

In this case SL was @ 1.4750, moved it to BE as soon as it touched the 1.4650 level;

All other TP's are based on 4hr s/r lines as TP's & hard stops, with dynamic (manual) stops on 1hr s/r levels... I just watch the latter, if market flips them, then I might opt out before it reaches 4hr levels. If in good profit, I might stick on a 100 pip trailing sl - depends on market conditions and "my perception" of trend strength.

Very similar to how Custos would do it. A bit of advice, take special note of his handling of S/R levels, I have learned loads by paying special attention to NM & Custos... Both great traders with very different personalities and perspectives - giving back a lot to community.

Hope this helps
  • #6,925
  • Jun 17, 2010 3:27am Jun 17, 2010 3:27am
Quoting Paulette
Very similar to how Custos would do it. A bit of advice, take special note of his handling of S/R levels, I have learned loads by paying special attention to NM & Custos... Both great traders with very different personalities and perspectives - giving back a lot to community.

Hope this helps
haha, you give me way too much credit! I am also only a guy trying to figure out this game, no guru
  • #6,926
  • Jun 17, 2010 3:39am Jun 17, 2010 3:39am
Quoting Custos
haha, you give me way too much credit! I am also only a guy trying to figure out this game, no guru
just saying

guru's charge people to teach them diddley and a bit - are you taking paypal / ccard?
  • #6,927
  • Jun 17, 2010 3:52am Jun 17, 2010 3:52am
Quoting Paulette
just saying

guru's charge people to teach them diddley and a bit - are you taking paypal / ccard?
haha, only cash
  • #6,928
  • Jun 17, 2010 4:18am Jun 17, 2010 4:18am
Euro seems to be gaining upside momentum, will Euro post new highs?

Lets see, all counter trend for now...
  • #6,929
  • Jun 17, 2010 4:59am Jun 17, 2010 4:59am
Quoting Paulette
Hi Charles

TP 1 always = SL value / first S/R level on the way down; For now it looks like market is retesting the S/R level it just popped thru from below;

In this case SL was @ 1.4750, moved it to BE as soon as it touched the 1.4650 level;

All other TP's are based on 4hr s/r lines as TP's & hard stops, with dynamic (manual) stops on 1hr s/r levels... I just watch the latter, if market flips them, then I might opt out before it reaches 4hr levels. If in good profit, I might stick on a 100 pip trailing sl - depends on market conditions and...

Applause for this two guys they are really help us,we the newbies ...
  • #6,930
  • Jun 17, 2010 5:05am Jun 17, 2010 5:05am
Hi

did anyone get the cad/chf drop? was a classic confluence trade... I missed it, somehow the alarm did not trigger...
  • #6,931
  • Jun 17, 2010 5:23am Jun 17, 2010 5:23am
Quoting Paulette
Hi Charles

TP 1 always = SL value / first S/R level on the way down;...

Thanks for the explanation Paulette...much appreciated.

I have so much to learn still, but the passion is there If only this forum had a PDF type file with the strategy and variations thereof in a central area...it gets a bit difficult sifting through random discussions when time is not always on your side.

I will persist and eventually get there
  • #6,932
  • Jun 17, 2010 5:27am Jun 17, 2010 5:27am
If you don't mind me asking, the USD/CHF pair which has been on a strong uptrend for some months now took a major dip today. The drop is a bit short of a 50% retracement and just pierced the 1.1150 area. Looks like it has met some resistance at 1.11330 area.

Could this be a potential worthwhile trade to go long with?
  • #6,933
  • Jun 17, 2010 5:40am Jun 17, 2010 5:40am
Guys i think one can get set to short this pair attach...please your
advices are welcome ...is it wot waiting for?

Thanks
Attached Image (click to enlarge)
Click to Enlarge Name: gbpjpy 4hr.gif Size: 29 KB
  • #6,934
  • Jun 17, 2010 5:41am Jun 17, 2010 5:41am
Quoting CharlesSA
If you don't mind me asking, the USD/CHF pair which has been on a strong uptrend for some months now took a major dip today. The drop is a bit short of a 50% retracement and just pierced the 1.1150 area. Looks like it has met some resistance at 1.11330 area.

Could this be a potential worthwhile trade to go long with?
Charles on your previous post: it is a case of "VASBYT BOET! of gan huis toe"...

CHF - personally I feel there are more pairs out there than CHF, I always think twice about CHF as SNB has a tendancy to meddle in the market, CHF level not to their liking, they throw big buckets into the market to force it the way they want it to go - in the 2 years I have been trading, it has happened toooooo many times for my pips to feel at easy...

Having said that I still analyse those CHF pairs, it gives me good exercise and screen time...

BUT to answer your question, just look at where the price is now - 1.11415, very strong momentum down, against the trend. In general, I like the momentum with the trend and the retraces not as strong as it is at the moment - Custos can share some experience, If I recall correctly NM and Custos also works with momentum as friend, similar as trend...
  • #6,935
  • Jun 17, 2010 5:45am Jun 17, 2010 5:45am
Quoting Paulette
Charles on your previous post: it is a case of "VASBYT BOET! of gan huis toe"...

CHF - personally I feel there are more pairs out there than CHF, I always think twice about CHF as SNB has a tendancy to meddle in the market, CHF level not to their liking, they throw big buckets into the market to force it the way they want it to go - in the 2 years I have been trading, it has happened toooooo many times for my pips to feel at easy...

Having said that I still analyse those CHF pairs, it gives me good exercise and screen time...

Excellent answer Paulette!

A fellow South African I see! Thanks for the input on this.
  • #6,936
  • Jun 17, 2010 5:46am Jun 17, 2010 5:46am
Quoting mayorowo
Guys i think one can get set to short this pair attach...please your
advices are welcome ...is it wot waiting for?

Thanks
maybe in the US session, I just dont like the strong momentum candles which is counter trend, that is if you view the trend overall as bearish...
  • #6,937
  • Jun 17, 2010 7:57am Jun 17, 2010 7:57am
Quoting Paulette
Hi All,

GU - just gone into short, +30 for now; entry 1.4700

Eur/jpy - confluence @ 112.00 - 111.85
usd/chf - 1.1330 confluence
aud/usd - breaking with trend below .86

maybe some pics later, but confluence (TL, RN, Fib's, S/R, CTL)

(EDIT: a lot of counter trend momentum, candles too big, staying on sideline for now)

Trade safe
usd/chf - 1.1330 confluence
aud/usd - breaking with trend below .86

The above two look quite good.
  • #6,938
  • Edited 9:30am Jun 17, 2010 8:04am | Edited 9:30am
Quoting mayorowo
Guys i think one can get set to short this pair attach...please your
advices are welcome ...is it wot waiting for?

Thanks
Hi Mayorowo,
Currently this one in working out its direction (having reacted to a resistence level) ...more of a reversal entry right now as the new trend direction hasnt been established yet. But to me it looks like weakning price action. As of last bar after the large green bar .....price failed to rise further. However in these reversals anything can happen. Therefore its a wait and see thing.
  • #6,939
  • Edited 9:06am Jun 17, 2010 8:26am | Edited 9:06am
Quoting MktScape
usd/chf - 1.1330 confluence
aud/usd - breaking with trend below .86

The above two look quite good.

Thanks for bringing it to my attention... I use the opportunity to then draw the fibs, spot RN's etc while I am getting used to this technique. Do you mind posting a sample chart where one's entry position would be so that I can get a better understanding while watching it unfold?

Thanks



EDIT:

Is the below chart correct as far as entry and SL? This is the only way I will truly learn
Attached Image (click to enlarge)
Click to Enlarge Name: Setup 1.PNG Size: 53 KB
  • #6,940
  • Jun 17, 2010 9:18am Jun 17, 2010 9:18am
In hindsight after posting that sample chart I feel a bit silly as I now see that the distances are far too great. I will try to keep my posts to a minimum now as I do not want to populate the thread with nonsense. Sorry
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