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Trend Trading All Pairs

  • #8,421
  • Oct 16, 2010 2:04pm Oct 16, 2010 2:04pm
Quoting Mortician.
Again, i have to agree with the man, shiko. I think the latin guardian is right. just my imho.
I will add this much: if you are really interested in retracements, 38...

Yes, I noticed this already. Retracement might be really deep which does not mean that trade won't work in long term. I guess once I secured some pips and moved stop to BE I must give any trade chance to turn into something big.
I cannot believe now that I closed my long EU on 1.2800 break out for only 40 pips and where is the price only after 4 weeks. Price never came back to my entry. Now it is 1200-1300 pips higher.
I could at least close half of it. I will never make such blunders again. Once I close half position and move stop to BE, I will leave it this way and give it a chance to turn into something big.
  • #8,422
  • Oct 16, 2010 3:08pm Oct 16, 2010 3:08pm
Quoting shiko
Yes, I noticed this already. Retracement might be really deep which does not mean that trade won't work in long term. I guess once I secured some pips and moved stop to BE I must give any trade chance to turn into something big.
I cannot believe now that I closed my long EU on 1.2800 break out for only 40 pips and where is the price only after 4 weeks. Price never came back to my entry. Now it is 1200-1300 pips higher.
I could at least close half of it. I will never make such blunders again. Once I close half position and move stop to BE, I will...
You were out at 1.2800? ouch! A good thread is DanUk 2009 trading journal.
http://www.forexfactory.com/showthread.php?t=143593

He trails his trade by 100pips, using -100pips SL, you can see the monthly results. What happens is that he generally makes +100 to 300pips before the retracement kicks him out; only to see the trend resume again, and for him to make another set of 100 to 200 pips before being kicked out again; then the steps repeat itself all over from the begining. Ad nauseum
HE RISKS 100 PIPS per trade. If he had just entered, then BE the trade at +100pips and let the trend work itself out, he would have made thousands upon thousands and hundreds upon hundreds of pips per position.
He later learned that lesson of not trailing his stops with 100 pips. He later just enter, BE the trade at 100pips or the swings high/low, and let the trend works its magic, and just keep adding to his positions.
Hence his latest thread:
http://www.forexfactory.com/showthread.php?t=255112
  • #8,423
  • Oct 16, 2010 4:50pm Oct 16, 2010 4:50pm
Quoting Mortician.
You were out at 1.2800? ouch! A good thread is DanUk 2009 trading journal.
http://www.forexfactory.com/showthread.php?t=143593

He trails his trade by 100pips, using -100pips SL, you can see the monthly results. What happens is that he generally...

I actually sensed reversal even before that and took long at 126.80 after 126.65 level was broken. another 30-40 pips taken. I was kind of looking only for 20-40 pips... I never let my profits run before now. i have just started doing this.
  • #8,424
  • Oct 16, 2010 4:52pm Oct 16, 2010 4:52pm
Quoting Mortician.
You were out at 1.2800? ouch! A good thread is DanUk 2009 trading journal.
http://www.forexfactory.com/showthread.php?t=143593

He trails his trade by 100pips, using -100pips SL, you can see the monthly results. What happens is that he generally...

I understand it now. It looks like he risks money over and over again.
  • #8,425
  • Oct 16, 2010 5:38pm Oct 16, 2010 5:38pm
I have just read how DanUK moves stops. I wonder why not to take partial profit in this case and leave stop at BE. I am sure he was shaken out many times. Good thread though too.
  • #8,426
  • Oct 17, 2010 4:28am Oct 17, 2010 4:28am
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Red
  • #8,427
  • Oct 17, 2010 11:52am Oct 17, 2010 11:52am
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Red
  • #8,428
  • Oct 17, 2010 5:26pm Oct 17, 2010 5:26pm
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and another defined supply zone higher

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Red
  • #8,429
  • Oct 17, 2010 8:10pm Oct 17, 2010 8:10pm
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  • #8,430
  • Oct 17, 2010 9:23pm Oct 17, 2010 9:23pm
Quoting Mortician.
works out well.

for me, needs a bpc on h1 or h4 or d1 below those red lines to enter.
Well, as per written above. The BPC in this trade on H4 has been completed. trade triggered on sunday. D/H4.
When price moved by 1:1, BE the trade
1st PT = 79.10(r/r=1:3)
2nd PT= Let the trend take care of the rest......
  • #8,431
  • Oct 17, 2010 9:48pm Oct 17, 2010 9:48pm
Quoting Mortician.
final part, setups:
Check the 3rd one.

NZD/JPY. D/h4; bpc.

trade setup here.
http://cdn.forexfactory.com/attachme...4&d=1287128835

Trade triggered on sunday.
Naturally, BE at 1:1, sell 1/2 at 59.10 = R/R= 1:8. Let the trend take care of the remaining 1/2. TRIGGER CHART ATTACHED BELOW.
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  • #8,432
  • Oct 17, 2010 11:33pm Oct 17, 2010 11:33pm
Quoting redsword11
Attachment

stopped out on aud



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scalp south entry loony
  • #8,433
  • Oct 18, 2010 1:36am Oct 18, 2010 1:36am
Quoting Mortician.
Well, as per written above. The BPC in this trade on H4 has been completed. trade triggered on sunday. D/H4.
When price moved by 1:1, BE the trade
1st PT = 79.10(r/r=1:3)
2nd PT= Let the trend take care of the rest......
CAD/JPY short up by +66 pips, i have already BE the trade.


Quoting Mortician.
Check the 3rd one.

NZD/JPY. D/h4; bpc.

trade setup here.
http://cdn.forexfactory.com/attachme...4&d=1287128835

Trade triggered on sunday.
Naturally, BE at 1:1, sell 1/2 at 59.10 = R/R= 1:8. Let the trend take care of the remaining 1/2. TRIGGER CHART ATTACHED BELOW.

NZD/JPY is already up by +36 pips, i have already BE the trade.
  • #8,434
  • Oct 18, 2010 6:50am Oct 18, 2010 6:50am
Here is a new trade I entered on the EJ pair, this is a 30 min trigger chart. Stop is at BE+ a couple pips I banked some pips on it when I moved my stop, now we will see what it does.

--NM
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  • #8,435
  • Oct 18, 2010 7:44am Oct 18, 2010 7:44am
Hi NM

My CADJPY is very similar EURJPY.

I'm thinking to follow the suggestion of Mortician and put a first target at 79.10.

What do you think?

Thanks in advance
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  • #8,436
  • Oct 18, 2010 8:57am Oct 18, 2010 8:57am
ok, locked about 60 pips half position on EU, stop at BE now, left the rest run. I think it will at least hit 1.400 but today's ATR seems like exhausted.
anyway, as I told, it is either position run or stop loss at BE.
  • #8,437
  • Oct 18, 2010 9:03am Oct 18, 2010 9:03am
Missed GBP/JPY trade yesterday, but it is now against in the picture. Clear down trend on4H , I won't mention higher time frames. will be waiting for pbc after proper Fib levels reached.
  • #8,438
  • Oct 18, 2010 10:31am Oct 18, 2010 10:31am
BTW, anyone took short GBP/CHF? I was watching but that huge up and down volatility was too much for my taste. Just could not bring myself to enter that trade.
  • #8,439
  • Oct 18, 2010 12:17pm Oct 18, 2010 12:17pm
Quoting shiko
BTW, anyone took short GBP/CHF? I was watching but that huge up and down volatility was too much for my taste. Just could not bring myself to enter that trade.

Yep i got it, but only took 40 pips and got out.

Using this method, is there any particular time I shouldnt be looking at entering a trade? As some opportunites seem to be appearing late us session and asian session. . .
  • #8,440
  • Oct 18, 2010 1:03pm Oct 18, 2010 1:03pm
Quoting shiko
Missed GBP/JPY trade yesterday, but it is now against in the picture. Clear down trend on4H , I won't mention higher time frames. will be waiting for pbc after proper Fib levels reached.
The higher time frames were more or less downtrending on GBP/JPY too. I didnt take it the trade. I was too busy. Nice catch.


Quoting shiko
BTW, anyone took short GBP/CHF? I was watching but that huge up and down volatility was too much for my taste. Just could not bring myself to enter that trade.
The CHF i traded instead was CAD/CHF short at rectangle breakout/bpc. H4/H1. short. Already BE and all that good stuff.

The other trade, was long AUD/USD at 0.9846(i just BE the trade at 0.9905):this trade is based on the hybrid trend trading method of both david 486 + danUK's method. I just combine the two. I stole this idea from another guy, actually. It wasnt my own at all. I think the two combined is more powerful than each alone.

david486: http://www.forexfactory.com/showthread.php?t=244741

danUk: http://www.forexfactory.com/showthread.php?t=255112


Quoting NaughtyPip
Yep i got it, but only took 40 pips and got out.

Using this method, is there any particular time I shouldnt be looking at entering a trade? As some opportunites seem to be appearing late us session and asian session. . .
A gain is a gain. Time to trade? Read the archives here, thread search for it. There are posts about it. Personally, i dont really care that much. I worry about london open and us open reversing my trade. And orange/red labeled fundamental news, otherwise, i dont care about eur/usd setting up for trade in asian hours, especially, when using higher time frames. my two cents.
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