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Trend Trading Chart Thread

  • #1,861
  • Jul 21, 2010 2:55am Jul 21, 2010 2:55am
Quoting coolshades
i ahve already moved mine to b/e. the extreme volatility worries me.
Yes me too... that's why I took a partial profit on this!
  • #1,862
  • Jul 21, 2010 3:04am Jul 21, 2010 3:04am
Quoting bez3000
Trade closed at -18 TSL closed it.


Hi,

What size stop were you using?

I've been paying much more attention to PA setups lately and as a result my stops have been differing in size due to the size of the setup bar (I tend to use the typical "stop at the top"). Because of this I have also been a little more pragmatic in moving my stop - rather than use a fixed number trail stop I move it manually (actually I always to it manually!) when price hits the next level of support/resistance.

I have found that waiting for a PA trigger does mean you miss a bit of the move and sometimes means you might miss a move altogether due to not seeing a clear enough signal - but on the whole I am finding it much less stressful. Before you had to put a lot of faith in a "level" holding - whereas now I let price tell me that the level has held before I get in. Just makes life easier I think!

And I have to admit – I have broken the golden rules to in placing the odd counter trend move when the signal has been good enough; not something I recommend to newbies of course but those who have had some experience/success with trend trades first!

Regards,

Dan
  • #1,863
  • Jul 21, 2010 3:09am Jul 21, 2010 3:09am
yes was going to ask that. not sure why you allowed a +ve trade to go red.

i too am these days playing pa (only pin bars and good beob and buob off the 50% fib, trendline or RN confluence ) or pa just off RN and along with the trend. for pa trades, i move to b/e very quickly often at 50-70 pip moves (trying to ensure that the move to be happens to match the atr for that time frame).

but frankly i am just not finding entries. the cable trade i am currently b/e at is probably my second trade in 2-3 weeks.

Quoting DanUK

Hi,

What size stop were you using?


Regards,

Dan
  • #1,864
  • Jul 21, 2010 3:18am Jul 21, 2010 3:18am
Quoting coolshades
yes was going to ask that. not sure why you allowed a +ve trade to go red.

i too am these days playing pa (only pin bars and good beob and buob off the 50% fib, trendline or RN confluence ) or pa just off RN and along with the trend. for pa trades, i move to b/e very quickly often at 50-70 pip moves (trying to ensure that the move to be happens to match the atr for that time frame).

but frankly i am just not finding entries. the cable trade i am currently b/e at is probably my second trade in 2-3 weeks.
Hi,

I tend only to trade pins, beob/buob and beeb/bueb. I have found other setups to be less effective.

It sounds like we are both adapting to changing market conditions in a similar way which is good!

With regards to entries... I have seen quite a few but I have to admit I have taken a number of counter-trend plays. I haven't posted them here cus it goes against the basic principle but if you do it right (correct location, great looking setup, tight management) they work out pretty well too.

Regards,

Dan
  • #1,865
  • Jul 21, 2010 5:30am Jul 21, 2010 5:30am
Hello Dan how do you see the eur/usd forecast?
And what tips can you give me in the future ( I'm a new trader)

Thanks
Teerok
  • #1,866
  • Jul 21, 2010 6:15am Jul 21, 2010 6:15am
Playing around with TSL, has not done me any good!

Quoting DanUK
Hi,

What size stop were you using?

I've been paying much more attention to PA setups lately and as a result my stops have been differing in size due to the size of the setup bar (I tend to use the typical "stop at the top"). Because of this I have also been a little more pragmatic in moving my stop - rather than use a fixed number trail stop I move it manually (actually I always to it manually!) when price hits the next level of support/resistance....
  • #1,867
  • Jul 21, 2010 9:29am Jul 21, 2010 9:29am
my last h4 closed on a bullish pin, just above 8400. commander are you in, long?
  • #1,868
  • Jul 21, 2010 11:52am Jul 21, 2010 11:52am
Quoting coolshades
my last h4 closed on a bullish pin, just above 8400. commander are you in, long?
No, I didn't get a pin on my feed!
  • #1,869
  • Jul 21, 2010 1:36pm Jul 21, 2010 1:36pm
closed my cable for 50 points.

on eurgbp my last h4 closed above 84 and was a bull candle and my previous h4 was a bullish pin. however current h4 is back below h4 so wait and watch. nothing else of note.

on cable and euro i think these are good prices to go long, but will wait for p.a. i am not at all convinced we will get prices back to 1.23 on euro and earlier lows of cable, these are just retracements.

on eurcad i will wait for pa around 3400 to go long,

Quoting DanUK
No, I didn't get a pin on my feed!
  • #1,870
  • Jul 22, 2010 12:16pm Jul 22, 2010 12:16pm
Hi , I am new to forex . whenever I placed a trade with SL , the price will come to my sl level to stop me out . How can I avoid ? please help.

I using 16 mins chart

THANKS
  • #1,871
  • Jul 22, 2010 12:30pm Jul 22, 2010 12:30pm
Quoting Ibz
Hi , I am new to forex . whenever I placed a trade with SL , the price will come to my sl level to stop me out . How can I avoid ? please help.

I using 16 mins chart

THANKS
Don't use a stop loss.

Just kidding! The only way to avoid this is to stop trading and start learning... until you have grasped the basics of trading you should not be placing any trades.

Perhaps a little more info about what you are doing would be helpful.

Regards,

Dan
  • #1,872
  • Jul 22, 2010 12:35pm Jul 22, 2010 12:35pm
Quoting teerok
Hello Dan how do you see the eur/usd forecast?
And what tips can you give me in the future ( I'm a new trader)

Thanks
Teerok
Hello Teerok,

I don't really do forecasting... I just trade what I see on the charts. At the moment I see EUR/USD heading higher so as a trend trader I would be looking for retracements to get long... until the trend changes.

As for a tip... the only one I can think of right now is don't eat yellow snow!!

Regards,

Dan
  • #1,873
  • Jul 22, 2010 12:38pm Jul 22, 2010 12:38pm
Quoting Ibz
Hi , I am new to forex . whenever I placed a trade with SL , the price will come to my sl level to stop me out . How can I avoid ? please help.

I using 16 mins chart

THANKS
Short answer, Stop using 16 min charts!

Long answer, Being new you need an education in forex.

Try http://www.babypips.com/school/

Then when you are done with those classes, read the attachment below.

Then read the whole thread here James16
Attached File(s)
File Type: pdf Jacko.pdf   144 KB | 661 downloads
  • #1,874
  • Jul 22, 2010 12:41pm Jul 22, 2010 12:41pm
commander, i wld have tht you wld have gone long on this. i am stll waiting for a close above 8450 and some p.a. thereabouts. and on eurcad a close above 3450
  • #1,875
  • Jul 22, 2010 1:01pm Jul 22, 2010 1:01pm
Thanks for the comments and docs . I am using SL 20pips on 15mins chart . So all using at least 4H chart to trade and with SL about 100pips ??


Cheers
  • #1,876
  • Jul 22, 2010 3:34pm Jul 22, 2010 3:34pm
Quoting coolshades
commander, i wld have tht you wld have gone long on this. i am stll waiting for a close above 8450 and some p.a. thereabouts. and on eurcad a close above 3450
With you on eurcad.
  • #1,877
  • Jul 25, 2010 5:24am Jul 25, 2010 5:24am
hmm bit disappointed that neither euro or cable are giving good pa on the h4 for entries. almost wondering if its worth taking long on cable at 5200 and on euro at 2800 without bothering about pa.

i have two successive bearish pin bars on eurcad on the dailies. the pin bars are not in the right position but the fact that they are two successive ones might mean i take a speculative short tonite.

otherwise nothing else on on my charts.
  • #1,878
  • Jul 26, 2010 8:42am Jul 26, 2010 8:42am
I am waiting on PA to confirm one of the following:

eurcad long
gbpchf short
audcad long
eurusd long
And maybe a counter trend gbpusd short?????

Quoting coolshades
hmm bit disappointed that neither euro or cable are giving good pa on the h4 for entries. almost wondering if its worth taking long on cable at 5200 and on euro at 2800 without bothering about pa.

i have two successive bearish pin bars on eurcad on the dailies. the pin bars are not in the right position but the fact that they are two successive ones might mean i take a speculative short tonite.

otherwise nothing else on on my charts.
  • #1,879
  • Jul 26, 2010 6:24pm Jul 26, 2010 6:24pm
I am long E/C from 1.3400, might be early?
Also long G/U got in at 1.5380 Strong res at 1.5520 my target.

CP
  • #1,880
  • Jul 29, 2010 12:16pm Jul 29, 2010 12:16pm
Where is everyone?
G/U may be looking good to sell?
any thoughts here.

Also looking at A/J short nice day pin bar.
CP
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