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Trend Trading All Pairs

  • #8,381
  • Oct 14, 2010 3:48pm Oct 14, 2010 3:48pm
ive entered at 1.4080 on this long, gonna leave it to run while I am asleep and see what happens. Sl at 1.4048
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  • #8,382
  • Oct 14, 2010 3:53pm Oct 14, 2010 3:53pm
Quoting Custos
why were you buying so late in this setup?


requotes
  • #8,383
  • Oct 14, 2010 5:06pm Oct 14, 2010 5:06pm
Quoting Custos
hm, I think trailing is counter-productive and here is why. Cause you never know how deep the next retracement might be. If you were to trail, then yes I would do it very very loosely, otherwise you will soon be shaken out by some retracements. What you want is to use the long-term trend in your favor.
I have come to realize that the long-term trend is actually the biggest edge we have, so we should maximize our participation in it. We have to think more like investors, than just traders, and here we would invest in the long-term trend of a currency...

I understand what you mean. I remember putting some trade on Demo more than a year ago and forgetting about it. After I checked that Demo trade accumulated around 800 pips. I would sure not let it run that far. I will be trying to catch those big pips but only after I lock profit from half of my position. It sounds like that multiped thread. The guy keeps opening trades along the trend and wait what might survive for a long time.
  • #8,384
  • Oct 14, 2010 5:08pm Oct 14, 2010 5:08pm
Quoting shiko
I understand what you mean. I remember putting some trade on Demo more than a year ago and forgetting about it. After I checked that Demo trade accumulated around 800 pips. I would sure not let it run that far. I will be trying to catch those big pips but only after I lock profit from half of my position. It sounds like that multiped thread. The guy keeps opening trades along the trend and wait what might survive for a long time.
yep, that thread influenced my style of trading a lot. And I am glad that I found that thread, makes trading a lot easier and less stressful.
  • #8,385
  • Oct 14, 2010 5:13pm Oct 14, 2010 5:13pm
Set ups are forming on A/U and GBP/Cad.
E/U dip was only to 23 Fib and not much space above, so I will wait.

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  • #8,386
  • Oct 14, 2010 5:16pm Oct 14, 2010 5:16pm
Quoting Custos
yep, that thread influenced my style of trading a lot. And I am glad that I found that thread, makes trading a lot easier and less stressful.

I actually got email about this thread from Traders laboratory.
It looks like the simple things works. You know, it took about a year to learn to control myself to cut losses which I do well now and I just started working on letting profits run. It looks like another year head...
  • #8,387
  • Oct 14, 2010 5:23pm Oct 14, 2010 5:23pm
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Red
  • #8,388
  • Oct 14, 2010 5:33pm Oct 14, 2010 5:33pm
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respect it or blow through ...............
  • #8,389
  • Oct 14, 2010 5:40pm Oct 14, 2010 5:40pm
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  • #8,390
  • Oct 14, 2010 6:01pm Oct 14, 2010 6:01pm
Quoting redsword11
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awh man ................



not again, we have ran out of ink @ the fed
  • #8,391
  • Oct 14, 2010 7:03pm Oct 14, 2010 7:03pm
I think this is the set up on weekly/ daily that we can use to pick those big trades ?

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  • #8,392
  • Oct 14, 2010 9:58pm Oct 14, 2010 9:58pm
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  • #8,393
  • Oct 15, 2010 2:47am Oct 15, 2010 2:47am
My second experiment. Closed half of my long GBP/USD, stop loss to BE the rest left to run. Let's see how things will be working over the long run. All entries courtesy of NightMoves
I do not think this trade will survive though, but who knows.
  • #8,394
  • Oct 15, 2010 2:49am Oct 15, 2010 2:49am
I entered long E/U as well, had half of my first target in profit but did not take it. It will be either loss or I take half of my position as profit the rest left to run. Let's see if price gets to my first target. At least I am at very small risk now thannks to locked profit from G/U trade.
  • #8,395
  • Oct 15, 2010 2:58am Oct 15, 2010 2:58am
Quoting shiko
I think this is the set up on weekly/ daily that we can use to pick those big trades ?

Attachment

Attachment
these are the ones i can see now:


http://www.forexfactory.com/showthre...56#post4098456


http://www.forexfactory.com/showthre...60#post4098460


http://www.forexfactory.com/showthre...69#post4098469


http://www.forexfactory.com/showthre...78#post4098478
  • #8,396
  • Oct 15, 2010 3:16am Oct 15, 2010 3:16am
ok, locked EU half position profit the rest left to run.
let's see.
  • #8,397
  • Oct 15, 2010 3:20am Oct 15, 2010 3:20am
Quoting Mortician.
these are the ones i can see now:


http://www.forexfactory.com/showthre...56#post4098456


http://www.forexfactory.com/showthre...60#post4098460


http://www.forexfactory.com/showthre...69#post4098469


http://www.forexfactory.com/showthre...78#post4098478

This looks excellent. Thank you for sharing Mortician. I have just started watching these longer term charts. it is an eye opener. However I have some mistrust of other crosses outside of majors as I have never traded them. Probably I need to start with them by trading smaller sizes to get a hold.
Will spend weekend watching for similar set ups on weekly/ daily charts, training my eye and then looking for good entries as per NightMoves method.
  • #8,398
  • Oct 15, 2010 6:56am Oct 15, 2010 6:56am
Quoting Custos
here is a short I just took. cad/jpy h4
Low risk entry in my opinion in conjunction with the long-term trend.
That one is working out nicely, stop at b/e and waiting for the long-term trend to move that position into good profits.

Furthermore, I am entering on gbp/cad h1. Confluence with trendlines, S/R level and a deep retracement fib. Moreover, we got a couple of pins indicating that price doesn't want to go further up. In conjunction with the weekly trend. So that will also become a very long-term position, if price really decides to reverse now and go with the weekly trend again.

cheers
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  • #8,399
  • Oct 15, 2010 9:15am Oct 15, 2010 9:15am
All trades stopped at BE. well, but I still locked some pips in. I think this is how it should be. Profits must be taken. But part should be left to run for prospect of bigger returns.
  • #8,400
  • Oct 15, 2010 9:52am Oct 15, 2010 9:52am
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sold
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