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Trend Trading All Pairs

  • #7,481
  • Jul 29, 2010 11:40am Jul 29, 2010 11:40am
THis once has melted like ice cream. I am manually trailing my SL.
Attached Image (click to enlarge)
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  • #7,482
  • Jul 29, 2010 11:47am Jul 29, 2010 11:47am
Quoting MktScape
THis once has melted like ice cream. I am manually trailing my SL.
that has been a nice drop in gbp/chf. That one can definitely still go down for a while
  • #7,483
  • Jul 29, 2010 12:07pm Jul 29, 2010 12:07pm
GBPCHF hit Demand Zone on H1.
I'm in 50SL and 100TF

Still learning...not sure if entry or exit is at profitable level though

Thanks
Andreas
Attached Image (click to enlarge)
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  • #7,484
  • Jul 29, 2010 12:47pm Jul 29, 2010 12:47pm
Quoting Custos
that has been a nice drop in gbp/chf. That one can definitely still go down for a while
Looks like it wants to retrace to 6330
  • #7,485
  • Jul 29, 2010 12:54pm Jul 29, 2010 12:54pm
Quoting randomperson
Looks like it wants to retrace to 6330
yeah, I also think it's retracing up now, maybe we get a good entry tomorrow.
  • #7,486
  • Jul 29, 2010 1:07pm Jul 29, 2010 1:07pm
Quoting AndreasF
GBPCHF hit Demand Zone on H1.
I'm in 50SL and 100TF

Still learning...not sure if entry or exit is at profitable level though

Thanks
Andreas
Hi Andreas,
Not a bad chart. Hard to say if an exit is ever profitable enough because exits are very discretionary, if entries weren't enough. Some base their exits on price-action, some like to play the math game from a good entry level. Neither one is wrong. I'd say keep doing what you are doing, gain the screentime, and eventually you'll know what method of exiting suits your individual personality.
  • #7,487
  • Jul 29, 2010 1:21pm Jul 29, 2010 1:21pm
Quoting AndreasF
GBPCHF hit Demand Zone on H1.
I'm in 50SL and 100TF

Still learning...not sure if entry or exit is at profitable level though

Thanks
Andreas
I agree with randomperson. Takes a while to personalize stops and take profit.

But what I do suggest you is to not take fixed stop losses and take profits. Put your stop loss behind a support/resistance level and your take profit in front of a support/resistance level.
And try to get a good risk:reward and good win:loss, but that comes with time.

cheers
  • #7,488
  • Jul 29, 2010 3:17pm Jul 29, 2010 3:17pm
looks like its going to breakout to upside ...price touching 1.6206 level 3rd time in quick successions and down moves are getting shorter with every touch.

what do you guys think?
  • #7,489
  • Jul 29, 2010 3:19pm Jul 29, 2010 3:19pm
Quoting MktScape
looks like its going to breakout to upside ...price touching 1.6206 level 3rd time in quick successions and down moves are getting shorter with every touch.

what do you guys think?
I hope so, I want my 240+ pips to reach my target
  • #7,490
  • Jul 29, 2010 3:24pm Jul 29, 2010 3:24pm
Quoting Custos
I hope so, I want my 240+ pips to reach my target
oh yeah ... that would be a good move once it break out ...let keep an eye on it. I am setting up an email alert just in case i am not around at the right time.
  • #7,491
  • Jul 29, 2010 3:25pm Jul 29, 2010 3:25pm
Quoting MktScape
looks like its going to breakout to upside ...price touching 1.6206 level 3rd time in quick successions and down moves are getting shorter with every touch.

what do you guys think?
there is a lot of resistance at it's current location. I will be surprised if it is able to break in the asian session.
With that giant wedge, a break down will be a great r:r opportunity.
  • #7,492
  • Jul 29, 2010 3:31pm Jul 29, 2010 3:31pm
Quoting randomperson
there is a lot of resistance at it's current location. I will be surprised if it is able to break in the asian session.
With that giant wedge, a break down will be a great r:r opportunity.
I also think it won't move much during asia, but I think it will eventually break out to the upside. So much significance gets put on that area in the moment, so I believe tomorrow we might see a break to the upside. Of course, just a guess.
  • #7,493
  • Jul 29, 2010 3:38pm Jul 29, 2010 3:38pm
Quoting randomperson
there is a lot of resistance at it's current location. I will be surprised if it is able to break in the asian session.
With that giant wedge, a break down will be a great r:r opportunity.
its looks more of a flat top ascending triangle on daily which is generally regarded as a bullish pattern.

But let wait and see how it unfolds.

Correct me if i am wrong.

ciao
  • #7,494
  • Jul 29, 2010 4:38pm Jul 29, 2010 4:38pm
this one appears to be getting ready for a downmove.
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  • #7,495
  • Jul 29, 2010 4:48pm Jul 29, 2010 4:48pm
I've been following this thread for a few days now and considering the discussion regarding "silent members" I thought I might as well sign up and take advantage of the expertise of the members of this thread.

I got into trading about 1.5 years ago through a friend of mine who had found Hector's trading blog, however, since this is something I do on my very limited spare time I am still very new to this.

Ok, so here goes.
usdchf on daily. Thinking of going short at 1.0372 if the breakout is confirmed. SL at 1.0460, TP1: 1.0265, TP2: 1.0126.
I would have preferred a more decisive breakout (full body instead of whisker).

I would really appreciate input.
Attached Image(s) (click to enlarge)
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Click to Enlarge Name: 3137734_FxPro_MetaTrader_4_-_Demo_Account_-_USDCHFH4-07.29.2010-11.09.46PM.png Size: 77 KB
  • #7,496
  • Jul 29, 2010 5:06pm Jul 29, 2010 5:06pm
I am trend trading across 32 pairs using a combination of an MA cross, RSI and Stochastics. I only use daily charts and open or close trades at the close of the daily candle.

In my case my broker's day ends at 5:00 PM EST. You can probably guess why that is an issue. A period of low liquidity from 5 to 7PM EST (between New York and Tokyo) causes the spreads to be the highest of the day at that time.

My question is this: From your experience would I be better off verifying any trades at the close of the candle but waiting until Tokyo opens to execute? The idea being that the spreads tighten at that point. You would, of course, lose potential moves by waiting for a tighter spread but that works both ways.

Secondly, at the close of the candle on Friday at 5:00 PM liquidity drys up completely and it is too expensive to trade. How have you handled placing those trades. I am thinking verify the validity of the trade at 5 Friday and placing the trade Sunday at 7.

I know this sounds very mechanical but it so far works for me. I can not trade on low time frames and want to know how you guys work around this.

Thanks.
  • #7,497
  • Jul 29, 2010 5:07pm Jul 29, 2010 5:07pm
Hey guys and gals - - stumbled upon this thread today and have been browsing around a bit.

I've been studying up on Hector's systems and seriously considering purchasing his course....however,

I'm very interested in this TOUCH TRADE idea that it seems Custos has developed....is there a particular spot in this thread where it is laid out and explained in detail? or is this something you have written down somewhere that I could access too?

thanks for the help
  • #7,498
  • Jul 29, 2010 8:34pm Jul 29, 2010 8:34pm
Hi

I'm not sure on what page the TT are explained in this thread.
However you might find attached Sam Seiden .pdf helpful where he explains such trades in details.

Cheers
Andreas


Quoting PiP_JuNkIe
Hey guys and gals - - stumbled upon this thread today and have been browsing around a bit.

I've been studying up on Hector's systems and seriously considering purchasing his course....however,

I'm very interested in this TOUCH TRADE idea that it seems Custos has developed....is there a particular spot in this thread where it is laid out and explained in detail? or is this something you have written down somewhere that I could access too?

thanks for the help
Attached File(s)
File Type: pdf Sam_Seiden_SFO_January_2005.pdf   176 KB | 3,894 downloads
  • #7,499
  • Jul 30, 2010 12:07am Jul 30, 2010 12:07am
Quoting MktScape
this one appears to be getting ready for a downmove.
I hope so, I had a limit order sitting, which got executed, hopefully it will move lower.
Attached Image (click to enlarge)
Click to Enlarge Name: eurgbp h1 30.7.2010.gif Size: 30 KB
  • #7,500
  • Jul 30, 2010 12:13am Jul 30, 2010 12:13am
Quoting annis
I've been following this thread for a few days now and considering the discussion regarding "silent members" I thought I might as well sign up and take advantage of the expertise of the members of this thread.

I got into trading about 1.5 years ago through a friend of mine who had found Hector's trading blog, however, since this is something I do on my very limited spare time I am still very new to this.

Ok, so here goes.
usdchf on daily. Thinking of going short at 1.0372 if the breakout is confirmed. SL at 1.0460, TP1: 1.0265, TP2: 1.0126....
I think the reason why this one didn't break out better is, because it broke down into support.

Actually I am kind of looking for a reversal signal PA-wise to get in long, or a further break below support and a retest from below.

I don't wanna talk you out of any trade, but I would sit on the sidelines for now and let usd/chf show its hand.
Attached Image (click to enlarge)
Click to Enlarge Name: usdchf d1 30.7.2010.gif Size: 44 KB
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