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Trend Trading All Pairs

  • #7,881
  • Sep 1, 2010 11:17am Sep 1, 2010 11:17am
Quoting PipRiderFX
Hey Moritician,

So do you trade both the LOB as well as the trend trading stuff as well as his counter trend trading systems?

How are the y all working for you? How long have tyou been trading them?

What is the Tony System?

Thanks
Yes, i trade his LOB system. It works out great for me. I dont trade his counter trend system.

Tony system is a system about taking any trades on the EUR/USD using the 5sec candle at london open with a SL of 2pips. Most of us find that immature, i thought i can see the use for it by merging that concept with the LOB and using 1minute candle instead of 5sec, and 10 pips SL instead of 2pips SL. All within 8am to 10am london time.

It works out great today, breakout happening at 1.2731 at 9:00am london time(which is also the entry,), 1 min candle. The trade was BE at +10pips. Exiting at near ADR-pt of 1.2831. risk/reward: 10 pips to make 100pips.
  • #7,882
  • Sep 1, 2010 1:06pm Sep 1, 2010 1:06pm
Hi Mortician,

So do you some times trade the original method for the London Open breakout? Or do you just trade the new way?

I must admit I never really looked at the London Open Breakout, so I don't have too much experience with it and hence would like your input :-)

May I ask if you have traded it the standard hector way how it worked out and how long you traded it that way for?

Also what pairs do you use for this? and do you use the 1hr as a setup and 15min for entry.

Thanks for your input

Also whats your success rate like with the trend trading system?
  • #7,883
  • Sep 2, 2010 5:02am Sep 2, 2010 5:02am
Quoting Mortician.
I like the daily, h4, and can tolerate h1/15mins. But anything less than that, i am not sure, due to noise levels.

Look at the GBP/CHF weekly. Solid setup. A break below, followed by a bpc should be profitable.

usd/cad is too messy for me on the weekly chart.

aud/jpy is a pennant formation. check the daily.

aud/nzd daily shows a consolidation after the breakout from this level
http://www.forexfactory.com/showpost...1&postcount=29

EUR/NZD is a utterly directionless consolidation right now. check the daily.

AUD/CAD...
Mystic, did you short the GBP/CHF weekly breakout trade? Down by +200 something pips already.


Quoting PipRiderFX
Hi Mortician,

So do you some times trade the original method for the London Open breakout? Or do you just trade the new way?

I must admit I never really looked at the London Open Breakout, so I don't have too much experience with it and hence would like your input :-)

May I ask if you have traded it the standard hector way how it worked out and how long you traded it that way for?

Also what pairs do you use for this? and do you use the 1hr as a setup and 15min for entry.

Thanks for your input

Also whats your success rate like with the trend...

I trade the LOB the old way. The answer to the rest of your questions are YES. yes. yes.
  • #7,884
  • Sep 4, 2010 6:09am Sep 4, 2010 6:09am
Hello

Is someone out there!

USDCHF 4H is a missed opportunity ...!

Cheers
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  • #7,885
  • Sep 4, 2010 6:24am Sep 4, 2010 6:24am
And this also...

Cheers
Attached Image (click to enlarge)
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  • #7,886
  • Sep 4, 2010 3:22pm Sep 4, 2010 3:22pm
Quoting Jackk
Hello

Is someone out there!

USDCHF 4H is a missed opportunity ...!

Cheers

Yeah Jackk, I've got them (USDCHF & GBPCHF) on alert also but no entry as yet because of the higher low down below on both of them (been burned recently on that when a similar pair was in the process of a trend reversal).

So I have a counter-trend line drawn across the bottoms and waiting for a break down through that. But, I do agree that they both look like good candidates
  • #7,887
  • Edited 8:58am Sep 7, 2010 8:55am | Edited 8:58am
Hey, why is every one out of this thread? Can anyone POST any good set up?
  • #7,888
  • Edited 4:30am Sep 8, 2010 4:11am | Edited 4:30am
Quoting Mortician.
Mystic, did you short the GBP/CHF weekly breakout trade? Down by +200 something pips already.
3 SMA- Hi, I didnt, I still feel sick and I'm on strong medication so I have holidays. I will be back tomorrow or a day after tomorrow.

It's strange confluence of various events (two consecutive antibiotic therapies in two weeks, serious problems with my car, my ex was arrested and a close friend of mine had a car accident) so i think its a bad karma period, and it would be better not to trade at all

LOB - I studied your video and I like this approach - I will study it again and during the weekend or the next week I'll analyze historical data. Looks promising - good moves with momentum during the open, look as low risk high reward trades. Worth studying further. IS there on FF a thread devoted to LOB?

Tony - I studied the whole 1000 posts. Tony uses two or three strategies - 8 pips plus, entry at 8.00 + 5 sec and maybe also another setup.

In plus - Tony has a good history (according to himself) of wins.

In minus: 36 losses (loss or breakeven) in a row, no history to study the strategy, no statistical background.

IMHO (I may be wrong) this strategy is rather for beginners rather not for serious traders, I cannot ee here sound strategy, only "shotgun approach". As I said maybe I am wrong - but with experience traders develop feeling of the market - here I cannot see room for that. You just aim and shoot. There is nothing I see to do in order to improve this strategy with time. And it might be hard in the long run - imagine 20-30 losses, bad for psyche. Trading is a way to improve quality of life not to ruin it.

Maybe as a second strategy - it is good.

What would I do next - I would sudy 5 sec market moves during certain "surest of all" setups in order to find some regularities. Cathing 50-80 pip move with 2 pip SL (1% of account) looks promising, at least as a form of intelligent gambling For example - LOB looks as a good strategy to study, also some types of breakouts. Maybe prematurely (I studied market on M1 during several days - I see that it would be possible to catch several (3-4) wins (20-25pips) and 5-15 losses during a single day on euro and g/u. Strong minus - you should be glued to monitor all day long.
  • #7,889
  • Sep 8, 2010 4:27am Sep 8, 2010 4:27am
Daily - five setups at first glance.

H4 - USD/CHF looks promising, I marked move I would like to see - down and then pull back to 30-50 zone. AUD pairs - it is their first entry nto a 30-50 zone so it is too risky to trade.

H1 - EUR/NZD - I dont see clear resistance here (as a reason to move down) and a move up is too strong so it would be a trade with 50% or maybe 75% of normal amount. Riskier, not AA setup I like to see.

Reading my comments please be aware that I am not trading now as I am not fully functional. Thank you.
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  • #7,890
  • Sep 8, 2010 5:54am Sep 8, 2010 5:54am
Studying setups I found something that might be of interest to traders wanting to cath the larger move entering from smaller TF.

USD/CAD looks like there forms a triangle with potential to a stronger move. Look at formar triangle at the left.

Its direction I believe depends on fundamentals i.e. news announcements during the next 20-60 days.

BTW - look how a price (or rather traders working at USD/CAD ) respect counter trend lines as points of TP and entry (see arrows) - it might be a good indication of method of entry to a larger move.
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  • #7,891
  • Sep 13, 2010 6:03pm Sep 13, 2010 6:03pm
Hi

It seems short for anyone else .....?


Regards
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  • #7,892
  • Sep 13, 2010 9:29pm Sep 13, 2010 9:29pm
Quoting Jackk
Hi

It seems short for anyone else .....?


Regards



Actually, i am long. I have been long since 0.9302 and 0.9193. Draw a trendline on the weekly. See the break on the daily or h4, see the pullback, see the continuation. I entered long.

If the same BPC happens at 0.9400 area, i will add to my LONG position, with a careful eye on the 0.9400 round number. I am planning to go even more LONG on AUDs. In fact, i wont be surprised if AUD/USD eventually reach the all time high of 0.9850(from 2008) on the weekly.

FUNDAMENTALLY, THE AUD is beating every other G20 country. Every one. I see no reason why i will want to short anything coupled to the AUD at this time. Look at the breakouts in all the AUDs. Especially tthe EUR/AUD, the GBP/AUD, AUD/NZD, AUD/USD. Read the fundamental story. Why short AUD at this time?
  • #7,893
  • Sep 14, 2010 9:42am Sep 14, 2010 9:42am
NZD/USD long play. H4/15mins. Made +53 pips.

Entry notification here after 1, 2,3 completion. I used the H4/15mins.
http://www.forexfactory.com/showpost...5&postcount=55

Intratrade management here:
http://www.forexfactory.com/showpost...9&postcount=56

Final post here, where my final PT was met: risked 20 pips to make +53 pips. r/r = 1:2.
http://www.forexfactory.com/showpost...6&postcount=57
  • #7,894
  • Sep 14, 2010 10:06am Sep 14, 2010 10:06am
Quoting MysticRiver
Studying setups I found something that might be of interest to traders wanting to cath the larger move entering from smaller TF.

USD/CAD looks like there forms a triangle with potential to a stronger move. Look at formar triangle at the left.

Its direction I believe depends on fundamentals i.e. news announcements during the next 20-60 days.

BTW - look how a price (or rather traders working at USD/CAD ) respect counter trend lines as points of TP and entry (see arrows) - it might be a good indication of method of entry to a larger move.

Did you take the USD/CAD short?

Entry at 1.0285, SL at 1.0405. It is a classic trendline break followed by a BPC. You can see it on the chart. I have added a blue box to highlight the BPC.
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  • #7,895
  • Sep 14, 2010 10:11am Sep 14, 2010 10:11am
Quoting Jackk
Hi

It seems short for anyone else .....?


Regards


As per yesterday's comment against shorting AUD/USD:
http://www.forexfactory.com/showpost...postcount=7892

aud/usd has rocket up.
http://cdn.forexfactory.com/attachme...3&d=1284477035

I guess i sold my NZD/USD too early too:
http://www.forexfactory.com/showpost...postcount=7893
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  • #7,896
  • Sep 14, 2010 7:14pm Sep 14, 2010 7:14pm
Hi All,
After being away from this thread for awhile due my other job taking up all my time, I am now back. I was reading through just the last few pages of the thread and I noticed the thread has kind of taken on a different beat.

So once again I will say this, this is a thread to trade trends in any manner you chose, the regular traders that come to this thread have shown that the methods they use are excellent methods.

There are many ways to trade any market, and the method I use is just one of them. Custos introduced the touch trades here and it has proven to be a sucessful way of trading as well for many.

If you do not like a method that someone is using then DONT USE IT, however I will not stand for the bashing of any traders on this thread regardless of what you think of the method that trader uses. Like I said if you dont like the method dont use it.

The Forums are full nonsense on every level and almost anywhere you look you will find "The Key to Mint" somewhere in these forums and that goes for all forums. However the methods that were bieng used here have a proven track record as the trades are posted as they are taken for the most part. I myself have posted numerous trades just minutes after I have entered them and I can name many that have done the same.

After reading through the last few pages of this thread I have noticed A LOT of bashing and just outright BS. And it needs to stop. We are all here for the same reason (or should be) and that reason is to learn and collect the pippage and to help other traders.

If you come to this thread with any other purpose then you have no business here. There are plenty of other threads out there will gladly accept the rehtoric, however here it is not accepted AT ALL.

SO now that I have said what I think needed to be said, lets get back on with trading in this thread like it used to be.

--NM
  • #7,897
  • Edited 7:37pm Sep 14, 2010 7:35pm | Edited 7:37pm
The AUDUSD is in a very interesting spot.

--NM
Attached Image (click to enlarge)
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  • #7,898
  • Sep 14, 2010 9:33pm Sep 14, 2010 9:33pm
Quoting NightMoves
The AUDUSD is in a very interesting spot.

--NM
Hey NM,
Glad to see you back .... as you saw the never seen before mess here ... its kind of taken the spirit out. However since you are back therefore i'll attempt to post again ....

I hope Custos join here as well ... you know he has been mentoring a lot of people here only to learn that some disrespectful individual would try to discredit him on his efforts....very sad.

Regards
  • #7,899
  • Sep 14, 2010 9:40pm Sep 14, 2010 9:40pm
Quoting NightMoves
The AUDUSD is in a very interesting spot.

--NM
Looks like a 4th retest of this level .... if it hold then should be a good long.

EDIT: Right now there is a bearish engulfing pattern and a inverted hammer so looks like it will go down quite a bit.
  • #7,900
  • Sep 14, 2010 9:40pm Sep 14, 2010 9:40pm
Quoting MktScape
Hey NM,
Glad to see you back .... as you saw the never seen before mess here ... its kind of taken the spirit out. However since you are back therefore i'll attempt to post again ....

I hope Custos join here as well ... you know he has been mentoring a lot of people here only to learn that some disrespectful individual would try to discredit him on his efforts....very sad.

Regards
Yes I must agree with you there is no call for that kind of nonsense, Custos has only helped other traders out there and I think we all have learned something from him, and I will not stand for the BS that has been going on, so I will be out here more, and if they cant play nice then they must find a new playground because this one wont be available to them.

The hall monitor has spoken...

--NM
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