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Trend Trading All Pairs

  • #7,941
  • Sep 15, 2010 8:38pm Sep 15, 2010 8:38pm
Hi NM

great to see you back. Since you left I have been studying hard and thanks to your pm's, it's all starting to make some sense and now I can follow your posts, understand them a lot better and I am now taking winning (demo) trades. I may even be ready to go live soon???????

Andy
  • #7,942
  • Sep 15, 2010 8:40pm Sep 15, 2010 8:40pm
Quoting Andy_G
Hi NM

great to see you back. Since you left I have been studying hard and thanks to your pm's, it's all starting to make some sense and now I can follow your posts, understand them a lot better and I am now taking winning (demo) trades. I may even be ready to go live soon???????

Andy
Glad to hear that, it takes time, but once you get settled into a system then learn that system inside and out and you should have no problem, I traded demo account for almost a year when I first strarted before going live.

--NM
  • #7,943
  • Sep 15, 2010 8:43pm Sep 15, 2010 8:43pm
NM

I even had my audusd chart setup up exactly as yours, I even spotted the weekly resistance. Just waiting for a 123 now.

Andy
  • #7,944
  • Sep 15, 2010 8:45pm Sep 15, 2010 8:45pm
Quoting Andy_G
NM

I even had my audusd chart setup up exactly as yours, I even spotted the weekly resistance. Just waiting for a 123 now.

Andy
Yes the original setup on that pair is gone so now it becomes a different setup alltogether, I would really like to see a collapse on that pair if I get the good ole collapse signal I am going to short it for all its worth, but it may not happen.

--NM
  • #7,945
  • Sep 15, 2010 8:51pm Sep 15, 2010 8:51pm
Quoting Andy_G
NM

I even had my audusd chart setup up exactly as yours, I even spotted the weekly resistance. Just waiting for a 123 now.

Andy
Here is the AUDUSD chart, it is really testing the resistance up there and getting itself in a nice triangle so we will wait and see what it decides to do.

--NM
Attached Image (click to enlarge)
Click to Enlarge Name: 4hr setup.png Size: 34 KB
  • #7,946
  • Sep 15, 2010 8:51pm Sep 15, 2010 8:51pm
I spoke too soon about understanding, what do you mean by 'collapse signal'? A break of the up TL?

Andy
  • #7,947
  • Sep 15, 2010 8:53pm Sep 15, 2010 8:53pm
sorry posted at the same time. Yes I understand that, and still a 123 to enter?

Andy
  • #7,948
  • Sep 15, 2010 8:56pm Sep 15, 2010 8:56pm
Quoting Andy_G
I spoke too soon about understanding, what do you mean by 'collapse signal'? A break of the up TL?

Andy
I also trade the trend collapse, and I am kind of waiting for that to happen, trends have a habbit of creeping along in what ever direction that are going and when that trend collapses a good strong trend collapses violently many times, so I look for that too, I have made a lot of pips doing that in a short amount of time.

--NM
  • #7,949
  • Sep 15, 2010 9:01pm Sep 15, 2010 9:01pm
Do you still look for a bpc for a trend collapse to confirm entry?

Andy
  • #7,950
  • Sep 15, 2010 9:05pm Sep 15, 2010 9:05pm
Quoting Andy_G
Do you still look for a bpc for a trend collapse to confirm entry?

Andy
Yes I do, and it is usually right at that point when the collapse takes off. I keep a pretty tight stop in the beginning and then open it some after I get room to do so.

--NM
  • #7,951
  • Sep 15, 2010 10:20pm Sep 15, 2010 10:20pm
The AUDUSD is looking better and better...That top resistance may hold again...

--NM
  • #7,952
  • Sep 15, 2010 10:43pm Sep 15, 2010 10:43pm
Quoting NightMoves
Here is the AUDUSD chart, it is really testing the resistance up there and getting itself in a nice triangle so we will wait and see what it decides to do.

--NM
Just keeping my eye on those red levels:
Attached Image (click to enlarge)
Click to Enlarge Name: Screenhunter_02 Sep. 14 14.43.jpg Size: 207 KB
  • #7,953
  • Sep 16, 2010 4:04am Sep 16, 2010 4:04am
I wasn't going to post in this thread again, but since you very subtly attack me again, here is my response.
Quoting Mortician.
Actually, that is what i have seen here. They will just draw lines with points on them and call them "supply and demand" zone and take a position regardless of trend. I discussed this flagrancy, in private, with custos.
no idea when that happened, I never discussed anything with you in private.

Quoting Mortician.
I will give you examples. Just thread search andreasf name. I...
You think I am some kind of guru to give people blessings? Everybody is responsible for their own trades and nobody needs or should require a blessing from anybody. And I didn't encourage anybody to trade counter-trend. I am not a babysitter, I just post my thoughts about trading setups no matter if with trend or couner trend, nothing more.

Quoting Mortician.
http://www.forexfactory.com/showthre...04#post3965704
It was an anti-trend trade.
You can see andreasF taking some of these trades with custos blessings...which is what worries me. Dont try to be too clever with the market with razzle-dazzle. keep it simple: trade with the trend.
no idea what you talk about, if you look one post further I told him that it was not a good idea to short this pair at this point.

Quoting Mortician.
#9. AndreasF took a PRO TREND play with GBP/NZD at 2.2100 on a aug 15th. It instantly gave a +120 pips before reversing. Instantly.
http://www.forexfactory.com/showthre...73#post3948673
Price only moved against that position by a silly -4pips. Which goes to show the power of trend trading all pairs.
Which proves the point was trying to make to CUSTOS about only trading with the trend.
I don't remember that you were making any point to me before, except about my crappy "touchy" trading style. Can you please show me the post where you made that point to me?


Quoting Mortician.
#12. On august 4, A short USD/CAD anti-trend trade. Total loss. Instantly. -85pips and -34pips before price reversed itself.
http://www.forexfactory.com/showthre...77#post3922377
I dont know why andreasF keeps taking anti-trend plays and custos keep giving his blessings to these trades.
If you read my reply I told him that it was against the trend and he would be trading the pullback.


Quoting Mortician.
I wrote about these things to custos, in private, expressing my concerns, before everybody thinks i am the bad guy here.
no you didn't


It seems you always get very personal, if you don't like something. Now picking out trades of a newbie. Would you like if somebody just randomly picks on you on a public forum or wherever without you even knowing him?
And again, nobody needs my blessings for taking trades, so whatever I say is just my personal opinion and not the standard of the industry or this thread.

Anyways, the message of the post about trading with the trend is good. People should trade with the trend. The probabilities are stacked on your side, if you trade with the trend.

best regards
  • #7,954
  • Edited 5:28am Sep 16, 2010 5:10am | Edited 5:28am
Quoting Custos
I wasn't going to post in this thread again, but since you very subtly attack me again, here is my response.

no idea when that happened, I never discussed anything with you in private.


You think I am some kind of guru to give people blessings? Everybody is responsible for their own trades and nobody needs or should require a blessing from anybody. And I didn't encourage anybody to trade counter-trend. I am not a babysitter, I just post my thoughts about trading setups no matter if with trend or couner trend, nothing more.



no idea what you...
SERIOUSLY? SERIOUSLY?
SERIOUSLY, LET US MOVE ON. OKAY?
I have nothing much else to say about the matter.

Now, if you dont mind, i will get back to purely trading. That is why i am here.

(i look forwards to more of your postings/trades...with the trend, of course.....can we move on now? we are all adults.)

BACK TO TRADING: Mysticriver and I were discussing the applicability of TONY's system to HECTOR'S lob TRADES. A fusion of the two. I concluded what kind of approach i am going to take here: http://www.forexfactory.com/showthre...ny#post3993591
I just now recently took a trade that fits that parameter a couple of minutes ago. setup = h4 or h1(you can see the consolidation on either timeframe), TRIGGER chart = 1min. SL = -10 PIPS. BE the trade at = +10 pips. PT = ADR = +100pips. The trade is still in progress, in fact, it just started. Which is a combination of LOB + tony's approach. I talked about this here:

http://www.forexfactory.com/showthre...ny#post3993591

http://www.forexfactory.com/showpost...postcount=7876

Here is a chart of my entry position at 1.3047(the dotted BLUE line on the 1min chart)

SL = -10pips away at 1.3037. (the RED DOTTED line on the 1 min chart.)

BE the trade at +10 pips at 1.3057(the upper SOLID red line on the 1min chart.)

PT is the SOLID BLUE line on the 4HR CHART. = +100 pips away.

The breakout was from lower solid red line. The consolidation is at 4hr and 1 hr time frame.

the price target is set at the ADR = which is roughly +100pips from entry = 1.3147.

Risk/reward = 10 vs 100 = 1 vs 10.

Let us see how this goes.

Chart attached. H4 chart and 1MIN trigger chart.
Attached Image(s) (click to enlarge)
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  • #7,955
  • Edited 5:27am Sep 16, 2010 5:15am | Edited 5:27am
Quoting Custos
I wasn't going to post in this thread again, but since you very subtly attack me again, here is my response.

no idea when that happened, I never discussed anything with you in private.


best regards
Before i add my comments to this OKAY OKAY & SERIOUSLY? ( all in bold and increased font ... obvious shouting) ...

Custos ....pls post a few touch trades here with or against trend and do highlight the supply demand zone as per Sam Sieden concepts !

I am pretty sure NM would love to hear the concept and probably see Sam Siedens videos at FxStreet.
  • #7,956
  • Sep 16, 2010 5:39am Sep 16, 2010 5:39am
Quoting MktScape
Before i add my comments to this OKAY OKAY & SERIOUSLY? ( all in bold and increased font ... obvious shouting) ...

Custos ....pls post a few touch trades here with or against trend and do highlight the supply demand zone as per Sam Sieden concepts !

I am pretty sure NM would love to hear the concept and probably see Sam Siedens videos at FxStreet.
Oh my sides! You are a funny man! I am laughing so hard my ribs hurts.

Now, USD/JPY daily/h1 TRENDLINE has broken to the upside. BPC.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: Screenhunter_05 Sep. 14 21.37.jpg Size: 181 KB
Click to Enlarge Name: Screenhunter_06 Sep. 14 21.37.jpg Size: 180 KB
  • #7,957
  • Sep 16, 2010 5:55am Sep 16, 2010 5:55am
Quoting Mortician.

BACK TO TRADING: Mysticriver and I were discussing the applicability of TONY's system to HECTOR'S lob TRADES. A fusion of the two. I concluded what kind of approach i am going to take here: http://www.forexfactory.com/showthre...ny#post3993591
[size=2]...
As per the HECTOR LOB + TONY's i took earlier. I am up by +50 pips.(1 minute chart attached).
Which means 5x return on risk. Since i risk -10 pips.

EUR/USD is currently battling the 1.3100 rn. It is always hard to not close down the trade after a such quick return on risk.(Essentially, this kind of return is equivalent to risking 100 pips to make 500pips. And if my final pt of +100 pips on this trade get reached, that will be equivalent to risking -100 pips to make +1000 pips.)

current 1 MIN CHART attached below:
Attached Image (click to enlarge)
Click to Enlarge Name: Screenhunter_07 Sep. 14 21.54.jpg Size: 171 KB
  • #7,958
  • Sep 16, 2010 4:12pm Sep 16, 2010 4:12pm
Hello NM & all expert Hector traders,

Is it a must that price hit round numbers (00 or 50) first before taking any 3 SMA trades? Does this apply to all currency pairs or just the majors?

Sometimes price will hit a S&R area within 38.2-61.8 Fib levels, but not at a round number, but inside or close to a Dynamic S&R and take off.

Any insights on this would be appreciated.

Thanks
  • #7,959
  • Sep 16, 2010 6:35pm Sep 16, 2010 6:35pm
Quoting ahks
Hello NM & all expert Hector traders,

Is it a must that price hit round numbers (00 or 50) first before taking any 3 SMA trades? Does this apply to all currency pairs or just the majors?

Sometimes price will hit a S&R area within 38.2-61.8 Fib levels, but not at a round number, but inside or close to a Dynamic S&R and take off.

Any insights on this would be appreciated.

Thanks
Hi ahks,

It helps to have the price at the round numbers for a number of reasons but markets are not perfect and when you have a good S/R confluence at those round numbers it makes the trade that much stronger.

But to answer your question no...I have seen the markets take off from almost anywhere however I myself would rather pay attention to the confluence of S/R levels around those round numbers for my entry.

Hope that helps..

--NM
  • #7,960
  • Sep 16, 2010 9:20pm Sep 16, 2010 9:20pm
Quoting NightMoves
Hi ahks,

It helps to have the price at the round numbers for a number of reasons but markets are not perfect and when you have a good S/R confluence at those round numbers it makes the trade that much stronger.

But to answer your question no...I have seen the markets take off from almost anywhere however I myself would rather pay attention to the confluence of S/R levels around those round numbers for my entry.

Hope that helps..

--NM
So this mean you only take trades after price reaches a confluence level (i.e. S&R, Fib.) with round numbers? If no round numbers at a confluence level then no trades?

Also, I have a few questions about 123 breakout patterns.

1. Do you wait for the candle to CLOSE beyond aspect #2 or as soon as price moves a few pips past aspect #2? In some cases, I saw 123 patterns with prices briefly moving beyond aspect #2. It would breach the trendline for a bit, then closing back below the trendline with SL being hit later on.

2. Do you still take trades if the break of the trendline is far away from aspect #2, but risk reward ratio is 1:1.5 or greater? Sometimes waiting for the break of the trendline to confirm 123 pattern can be far away from aspect #2.
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