Trend Trading All Pairs | Page 377 | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

Trading correlation pairs by using the other pairs 843 replies

28 Pairs Trading Panel (Multi-pairs) 0 replies

Export All pairs or selected pairs to .csv with script 3 replies

Daily Bar Analysis - All Pairs/All Welcome 15 replies

Trend Trading All Currency Pairs 3 replies

Attachments: Trend Trading All Pairs
Exit Attachments

Trend Trading All Pairs

  • #7,521
  • Jul 31, 2010 8:51am Jul 31, 2010 8:51am
Quoting Abinadi
Well, I have tried the DL on five different browsers and in each case it downloads a file named

attachment.php

Now I have had years of experience with MT4 and I can tell you that a file like that is not going to work as an indicator.

So I appreciate your effort and your posting but I still do not have an answer.

Anybody else got an idea?

Rich
try downloading from this link:
http://www.forexfactory.com/attachme...d=447829&d=Mar

I use Google Chrome and it downloaded ok.

or try this one:
http://www.forexfactory.com/attachme...02009%203:17pm
  • #7,522
  • Jul 31, 2010 9:20am Jul 31, 2010 9:20am
Quoting Custos
I was speaking of the importance of the session a couple of days ago. Well, I did some testing, not scientific or anything, would need a lot more trades to get a real analysis.

What we need to realize is that london is so forceful and strong, that it really tends to break levels. It's actually quite simple, but didn't think of that before for some reason. (Maybe because I wanted to trade during london).

My conclusion, touch trading for h1 and higher should be done from around end of london to around beginning of london. So second part of ny and...
Realizing that the high or low of the day is often hit within the first hour of the london session is pretty powerful info.
  • #7,523
  • Jul 31, 2010 3:04pm Jul 31, 2010 3:04pm
Quoting MktScape
try downloading from this link:
http://www.forexfactory.com/attachme...d=447829&d=Mar

I use Google Chrome and it downloaded ok.

or try this one:
http://www.forexfactory.com/attachme...02009%203:17pm
Thank you so much MktScape. That was very kind of you to help.

Computers can be so weird at times. That original DL will still not work for me when tried in five different browsers. The two you sent worked instantly in the first one I tried, Google Chrome. I have no idea why it works this way.

Do you know where I could pick up the parameter setting instructions for those two indicators?

Is there a possibility that you have access to the MQ4 (uncompiled version) of both of those? They aren't doing quite what I want but I think I could tweak them if I had access to the coding.

Again, thank you for you willingness to help. Much appreciated.

Rich
  • #7,524
  • Jul 31, 2010 3:07pm Jul 31, 2010 3:07pm
was playing with a new idea (what a surprise), haha.

god, I seriously should get another hobby besides trading

so, attached is my idea, and at least in this chart it looks pretty good. I also tested it through in my forextester and got a very positive expectancy.
Here it goes: I was reading some price action threads and books recently. Among others I read a bit through james 16 thread again. What I never understood was that they want to wait for perfect formations like a pinbar, inside bar or outside bar or whatever.
Anyways, my theory, and this is just a theory. It doesn't really matter which bar shows up and if you have a reversal formation or candlestick formation or whatever. What you need is a solid understanding of S/R levels or supply & demand zones. If price shoots up to such a zone, doesn't break it and just builds a small range and then breaks that small range to the downside, we should expect at least enough follow-through to get some quick profits, as shown in "1" in the graph.
On the other hand if price does break a zone, it will typically retest and also form a range and then shoot further, as shown in "2".
By the way, entry is always at the blue line. Kind of a momentum strategy. The initial stop should be at the high/low of the bar before the entry bar.
High win-rate, not so high R:R but I think this is not such a bad theory. You always at least got a reaction to book profits. So if we have two profit targets, one scalping target and one target at the next S/R zone, then we should be able to turn a profit, if we also put our stop to b/e once scalping target is reached.

And why does this work? Cause you have first a big S/R level which price doesn't want to break, then it creates a small S/R level (the small range) and will most likely then break the less significant S/R level. Hope that makes sense.

The attached chart is eur/usd daily.

What do you guys think?
Attached Image (click to enlarge)
Click to Enlarge Name: eurusd d1 31.7.2010.gif Size: 34 KB
  • #7,525
  • Jul 31, 2010 3:37pm Jul 31, 2010 3:37pm
Quoting Custos
was playing with a new idea (what a surprise), haha.

god, I seriously should get another hobby besides trading

so, attached is my idea, and at least in this chart it looks pretty good. I also tested it through in my forextester and got a very positive expectancy.
Here it goes: I was reading some price action threads and books recently. Among others I read a bit through james 16 thread again. What I never understood was that they want to wait for perfect formations like a pinbar, inside bar or outside bar or whatever.
Anyways, my theory, and...
I think I understand. It seems you are trading breakouts using what would essentially be intraday/multiday s/r levels. These can be seen if you look at candles in a micro form, such as stems rejecting, or one level clearly holding over a few bars.
So to clarify: 1. retrace to s/r, 2. look for rejection (or pass-through) and a level hold at micro level, 3. breakout entry.
If that is correct, it is certainly fine to do as an entry method. Entry method can be whatever the heck you want it to be, as long as you are comfortable with it.
  • #7,526
  • Jul 31, 2010 3:44pm Jul 31, 2010 3:44pm
Quoting randomperson
I think I understand. It seems you are trading breakouts using what would essentially be intraday/multiday s/r levels. These can be seen if you look at candles in a micro form, such as stems rejecting, or one level clearly holding over a few bars.
So to clarify: 1. retrace to s/r, 2. look for rejection (or pass-through) and a level hold at micro level, 3. breakout entry.
If that is correct, it is certainly fine to do as an entry method. Entry method can be whatever the heck you want it to be, as long as you are comfortable with it.
yep, it's exactly that. hehe, just wanted to see if it makes sense as a method. As we talked about, everything we do in trading needs to make sense. That's why I put it up for discussion in case my logic goes wrong.

So, good that you see it the same way . Essentially, I would want to take that entry method for longer-term trading for the daily chart.
  • #7,527
  • Aug 1, 2010 2:19am Aug 1, 2010 2:19am
Quoting Abinadi
Well, I have tried the DL on five different browsers and in each case it downloads a file named

attachment.php

Now I have had years of experience with MT4 and I can tell you that a file like that is not going to work as an indicator.

So I appreciate your effort and your posting but I still do not have an answer.

Anybody else got an idea?

Rich
You can click onto the attachment icon on the top right of this page and search for the file you wanted. I believe that should download the right file instead of one with .php

What parameter settings do you require?
  • #7,528
  • Aug 1, 2010 2:31am Aug 1, 2010 2:31am
Quoting Custos
was playing with a new idea (what a surprise), haha.

god, I seriously should get another hobby besides trading

so, attached is my idea, and at least in this chart it looks pretty good. I also tested it through in my forextester and got a very

The attached chart is eur/usd daily.

What do you guys think?
Hi Custos
I have been missing for a while, anyway
If I understand you correctly you meant
1. rebound at SR zone with pullback & continuation
2. Breakout of SR zone with pullback and continuation
Did I get you right?
Cheers
  • #7,529
  • Aug 1, 2010 3:06am Aug 1, 2010 3:06am
Quoting A 5
Hi Custos
I have been missing for a while, anyway
If I understand you correctly you meant
1. rebound at SR zone with pullback & continuation
2. Breakout of SR zone with pullback and continuation
Did I get you right?
Cheers
hehe, already wondered where everybody went

well,
1. not sure what you mean with pullback there. it should go to a major S/R level (my pink areas), then will probably sit there for a while. Then we wanna see price breaking the minor S/R level (my blue lines) created by price sitting there.
2. yes, that's basically it. Again I would just search for the minor S/R level to break.

makes more sense?
  • #7,530
  • Aug 1, 2010 4:34am Aug 1, 2010 4:34am
Hi Custos

thanks a lot for sharing your idea -it sounds logical.
I'm looking forward to next week to test it live.

Thanks
Andreas



Quoting Custos

And why does this work? Cause you have first a big S/R level which price doesn't want to break, then it creates a small S/R level (the small range) and will most likely then break the less significant S/R level. Hope that makes sense.

The attached chart is eur/usd daily.

What do you guys think?
  • #7,531
  • Aug 1, 2010 9:08am Aug 1, 2010 9:08am
Quoting Abinadi
Thank you so much MktScape. That was very kind of you to help.

Computers can be so weird at times. That original DL will still not work for me when tried in five different browsers. The two you sent worked instantly in the first one I tried, Google Chrome. I have no idea why it works this way.

Do you know where I could pick up the parameter setting instructions for those two indicators?

Is there a possibility that you have access to the MQ4...
For the LFL-RoundNumbers indicator, after you drag&drop it on the chart ...click on input tab and enter a value in PipDistance .... for a 50pips distance on a micro account the # will be 500.

I havent used the Grid indicator ....and dont see much use of it with this strategy.

Thanks
  • #7,532
  • Aug 1, 2010 9:43am Aug 1, 2010 9:43am
Quoting Custos
By the way, entry is always at the blue line. Kind of a momentum strategy. The initial stop should be at the high/low of the bar before the entry bar.
High win-rate, not so high R:R but I think this is not such a bad theory. You always at least got a reaction to book profits. So if we have two profit targets, one scalping target and one target at the next S/R zone, then we should be able to turn a profit, if we also put our stop to b/e once scalping target is reached.
Custos ...when you say "initial stop should be at the high/low of the bar before the entry bar." are you waiting for bar formation in the S/R zone and entering on the breakout of the bar. Because if we are taking a touch trade then how will be determine the entry bar high in advance as we would not know as to how far the price will pierce into the zone?

And with respect to profit taking last week that what i tried to implement .... i.e. book a quick/scalping type profits after X pips and letting the remainder of the position to tun after moving the SL to break even in this way one catch the larger move.
  • #7,533
  • Aug 1, 2010 9:59am Aug 1, 2010 9:59am
Quoting MktScape
Custos ...when you say "initial stop should be at the high/low of the bar before the entry bar." are you waiting for bar formation in the S/R zone and entering on the breakout of the bar. Because if we are taking a touch trade then how will be determine the entry bar high in advance as we would not know as to how far the price will pierce into the zone?

And with respect to profit taking last week that what i tried to implement .... i.e. book a quick/scalping type profits after X pips and letting the remainder of the position to tun after moving...
yeah, this idea has nothing to do with touch trades, and yes, breakout of the range created at the S/R level. This idea just crossed my mind when I was reading up on PA.

And concerning profit taking, yes that's a good way. However, with touch trading I am looking to get a decent first profit to a next S/R level zone. Well, but that is a floating rule, sometimes I like quick profits, sometimes I wanna let it ride more. Nothing right or wrong here.
  • #7,534
  • Aug 2, 2010 1:41am Aug 2, 2010 1:41am
two new entries:
eur/jpy h1 touch trade

& as I wrote last week, gbp/jpy daily made a pin bar, so I entered now above the pinbar. Stop is red line, entry is blue line.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: eurjpy h1 2.8.2010.gif Size: 29 KB
Click to Enlarge Name: gbpjpy d1 2.8.2010.gif Size: 26 KB
  • #7,535
  • Aug 2, 2010 1:48am Aug 2, 2010 1:48am
I'm on it as well
This trade should play out well.

Cheers
Andreas

Quoting Custos
two new entries:
eur/jpy h1 touch trade

& as I wrote last week, gbp/jpy daily made a pin bar, so I entered now above the pinbar. Stop is red line, entry is blue line.
  • #7,536
  • Aug 2, 2010 1:49am Aug 2, 2010 1:49am
Quoting AndreasF
I'm on it as well
This trade should play out well.

Cheers
Andreas
let's hope and pray
  • #7,537
  • Aug 2, 2010 2:05am Aug 2, 2010 2:05am
Hi Custos

I'm glad that I found this great thread.
During the weekend I managed to read the last 50 pages -and I enjoyed every minute.

I'm trading for 3 years+ with only partial success but started to make (decent) money after studying Sam Seiden's videos and pdf.

Thanks again for all your efforts and valuable explaination in this thread.

Cheers
Andreas



Quoting Custos
let's hope and pray
  • #7,538
  • Aug 2, 2010 2:10am Aug 2, 2010 2:10am
Quoting AndreasF
Hi Custos

I'm glad that I found this great thread.
During the weekend I managed to read the last 50 pages -and I enjoyed every minute.

I'm trading for 3 years+ with only partial success but started to make (decent) money after studying Sam Seiden's videos and pdf.

Thanks again for all your efforts and valuable explaination in this thread.

Cheers
Andreas
hehe, thanks for your kind words. So let's hope the thread stays valuable
  • #7,539
  • Aug 2, 2010 2:59am Aug 2, 2010 2:59am
It looks like GBPUSD has an opportunity for a touch trade on D1.
With an Supply level sitting on top I will risk a 1% trade

Cheers
Andreas
Attached Image (click to enlarge)
Click to Enlarge Name: gu d1.gif Size: 17 KB
  • #7,540
  • Aug 2, 2010 3:11am Aug 2, 2010 3:11am
Quoting AndreasF
It looks like GBPUSD has an opportunity for a touch trade on D1.
With an Supply level sitting on top I will risk a 1% trade

Cheers
Andreas
well spotted. Definitely a good opportunity. However, I personally don't trade touch trades during london anymore, only in the other sessions. London tends to break the levels, whereas the other sessions tend to respect them. Look at our e/j trade for example, held perfectly before london started. Then once london momentum picks up, it either can go in your favor or go through the level. In this case it went through the level.

Coming back to gbp/usd, if price is still sitting at the level after london, I will also take the trade, it's really a good area.

cheers

(But don't let me talk you out of any trade, you have to learn what works for you, and that learning comes from first hand experience. I just share with you what didn't work for me)
2 traders viewing now