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Trend Trading All Pairs

  • #7,721
  • Aug 18, 2010 9:03am Aug 18, 2010 9:03am
Quoting Custos
interesting that such a useful software which combines both worlds of backtesting doesn't exist. Maybe I am the only one who wants that feature.
I used to have neoticker, which does. Costs about 1k. Also has a feature to randomly generate data. Other software like ninjatrader/sierra chart allow for simple market replays with what you describe.
  • #7,722
  • Aug 18, 2010 10:20am Aug 18, 2010 10:20am
Quoting Custos
by the way, went short aud/usd h1 as well, let's see how that one works out.
Wow Custos... you have just shown me something completely new!!! I am always concentrating on just one trend and only the most recent levels but with that AUD/USD you have demonstrated how using longer term levels can indeed work!
  • #7,723
  • Aug 18, 2010 12:22pm Aug 18, 2010 12:22pm
Got into this trade ... so far so good.

Edit ...BTW custos would you have taken this one.
Attached Image (click to enlarge)
Click to Enlarge Name: NZDUSD-H1.PNG Size: 29 KB
  • #7,724
  • Aug 18, 2010 12:26pm Aug 18, 2010 12:26pm
Quoting PipRiderFX
Wow Custos... you have just shown me something completely new!!! I am always concentrating on just one trend and only the most recent levels but with that AUD/USD you have demonstrated how using longer term levels can indeed work!
Custos is the grandmaster here.
  • #7,725
  • Aug 18, 2010 12:32pm Aug 18, 2010 12:32pm
Is this one anyone's radar for a breakout?
Attached Image (click to enlarge)
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  • #7,726
  • Aug 18, 2010 12:50pm Aug 18, 2010 12:50pm
thanks guys for the suggestions concerning the backtesting software. Will look at them.

cheers
  • #7,727
  • Aug 18, 2010 12:54pm Aug 18, 2010 12:54pm
Quoting MktScape
This one seems to be pushing for a breakout above a weekly level. Would you look to enter on a breakout or a retest or stay on sideline?
hm, I already have a pretty large position on euro, so I might try the break-out with small size.

thanks for making me aware of that level.
  • #7,728
  • Aug 18, 2010 12:56pm Aug 18, 2010 12:56pm
Quoting PipRiderFX
Wow Custos... you have just shown me something completely new!!! I am always concentrating on just one trend and only the most recent levels but with that AUD/USD you have demonstrated how using longer term levels can indeed work!
no problem man, we are all here to learn. I personally never stop to learn, the market is teaching me new things day by day.
  • #7,729
  • Aug 18, 2010 12:59pm Aug 18, 2010 12:59pm
Quoting MktScape
Got into this trade ... so far so good.

Edit ...BTW custos would you have taken this one.
yeah, again, I am already involved with nzd/usd too.

Remember the post I made about zooming in and zooming out?

Well, the level you were trading off is a perfect m5 level. You could have gotten a really tight stop loss if you were trading it off the m5 chart.

Anyways, good level!
Attached Image (click to enlarge)
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  • #7,730
  • Aug 18, 2010 1:05pm Aug 18, 2010 1:05pm
Quoting MktScape
Is this one anyone's radar for a breakout?
good level, but at the 61.8% there could be a level which can take the breakout back down. It was not respected for a while and gets respected now more again. I wouldn't trade short off that 61.8% level, but you have to watch it if you wanna go long at the breakout.

cheers
Attached Image (click to enlarge)
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  • #7,731
  • Aug 18, 2010 2:16pm Aug 18, 2010 2:16pm
Quoting Custos
good level, but at the 61.8% there could be a level which can take the breakout back down. It was not respected for a while and gets respected now more again. I wouldn't trade short off that 61.8% level, but you have to watch it if you wanna go long at the breakout.

cheers
So you mean if price has retraced upto 61.8% then you would look for long from there. If yes then whats your cutoff fib level when you would not look for shorts (if i am understanding it correctly)
  • #7,732
  • Aug 18, 2010 2:20pm Aug 18, 2010 2:20pm
Quoting MktScape
So you mean if price has retraced upto 61.8% then you would look for long from there. If yes then whats your cutoff fib level when you would not look for shorts (if i am understanding it correctly)
no, it's a semi-strong level. I just say, take off some or do whatever once price reaches that level, cause it may very well bounce off of it. Well, actually I am short-biased on that pair. All higher time-frame trends on that pair are either ranging to slightly down, so I won't go against that.

But again, just my opinion, best you stick to your own analysis and give it a shot. I am by no means always right.
  • #7,733
  • Aug 19, 2010 12:15pm Aug 19, 2010 12:15pm
where are you guys?

no setups to discuss from your side? Well, I got involved in two trades which worked out quite well.

aud/cad & usd/cad h1.

cheers
Attached Image(s) (click to enlarge)
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Click to Enlarge Name: 19.8.2010 usdcad h1.gif Size: 49 KB
  • #7,734
  • Edited 4:06pm Aug 19, 2010 3:48pm | Edited 4:06pm
Quoting Custos
where are you guys?

no setups to discuss from your side? Well, I got involved in two trades which worked out quite well.

aud/cad & usd/cad h1.

cheers
... i have been in meetings since morning and one of my client now wants a rush quotation by tomorrow and they want no change in premium therefore i need to prepare a mangement referral for tomorrow...i'll chip in shortly.

BTW the two setips i took yesterday got stopped out at B/E as i moved the SL. For your USDCAD can you pls post a further zoomed out chart ...i just want to see which previous level it hit.

Both of your trades look great ....

i really need to catch up this weekend.
  • #7,735
  • Edited 4:56pm Aug 19, 2010 4:44pm | Edited 4:56pm
Quoting MktScape
... i have been in meetings since morning and one of my client now wants a rush quotation by tomorrow and they want no change in premium therefore i need to prepare a mangement referral for tomorrow...i'll chip in shortly.

BTW the two setips i took yesterday got stopped out at B/E as i moved the SL. For your USDCAD can you pls post a further zoomed out chart ...i just want to see which previous level it hit.

Both of your trades look great ....

i really need to catch up this weekend.
ok so i finally got a chance to look back .... Custos ...so the level on the left (yellow box) is what you targeted.?

The counter trendline is holding so far ... looks like price wants to touch 0.93500.
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  • #7,736
  • Aug 19, 2010 8:36pm Aug 19, 2010 8:36pm
This pennant appears to be readying for a breakdown
Attached Image (click to enlarge)
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  • #7,737
  • Aug 19, 2010 8:45pm Aug 19, 2010 8:45pm
Thanks for your confirmation, MktScape.
I'm watching this pair on H4 and see heavy supply on the left.
Price also is right now at 50.0 Fib coming from 61.8 on D1

I'm willing to risk 1% on that one.

Cheers



Quoting MktScape
This pennant appears to be readying for a breakdown
  • #7,738
  • Aug 19, 2010 9:16pm Aug 19, 2010 9:16pm
Quoting AndreasF
Thanks for your confirmation, MktScape.
I'm watching this pair on H4 and see heavy supply on the left.
Price also is right now at 50.0 Fib coming from 61.8 on D1

I'm willing to risk 1% on that one.

Cheers
Good luck
  • #7,739
  • Aug 20, 2010 12:20am Aug 20, 2010 12:20am
Quoting MktScape
... i have been in meetings since morning and one of my client now wants a rush quotation by tomorrow and they want no change in premium therefore i need to prepare a mangement referral for tomorrow...i'll chip in shortly.

BTW the two setips i took yesterday got stopped out at B/E as i moved the SL. For your USDCAD can you pls post a further zoomed out chart ...i just want to see which previous level it hit.

Both of your trades look great ....

i really need to catch up this weekend.
sorry, I can't zoom out that far. But I went back all the way to january to see how the level held over time.

cheers
  • #7,740
  • Aug 20, 2010 12:23am Aug 20, 2010 12:23am
Quoting MktScape
ok so i finally got a chance to look back .... Custos ...so the level on the left (yellow box) is what you targeted.?

The counter trendline is holding so far ... looks like price wants to touch 0.93500.
yes, but you personally I think you don't look back enough. I always try to have a lot of data points to see if it's really strong. That one was historically not such a strong level, but happened at the end of london and at 50% level and was a semi-strong level, so I gave it a shot.

cheers
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