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DanUK's Advanced Trend Trading Strategy

  • #521
  • Oct 27, 2010 5:07pm Oct 27, 2010 5:07pm
have just had an epiphane: use candlesticks!
having looked back at my losing trades, if i had waited for a good candlestick at the end of the pullback, i would've won, and would have had 2-3X better r:r

however, i'm not comfy with stop just over the candle, i'm going to place a 1ATR stop over the candle (depending on the timeframe)
  • #522
  • Oct 27, 2010 5:17pm Oct 27, 2010 5:17pm
Hi Dan, great thread, and nice to see a fellow Brit!

I noticed in your old thread you mention using Jackos anti hedge strategy for stop losses. Just wondering if you still used these?

Cant believe that Jackos thread turned out to be a scam by the way. I was quite disheartened when i flicked through to the end pages and realised what had happened, his system seemed very solid. Anyway, I will be following your thread eagerly.

Regards.
  • #523
  • Oct 28, 2010 2:10am Oct 28, 2010 2:10am
I agree with you decentchap, but as the current trend is up i would only be interested it taking a long position. Any short would be counter trend but could well be a good trade based on that pin bar. In the past i would have taken this trade but now i am trying to be disciplined and only trade the way Dan has outlined in this thread.

Quoting decentchap
Hi bez,

I am currently in very early learning phase of my trading career, so do take my view with BIG pinch of salt.
I see two things happening here. There is one cup and handle pattern forming which suggests that trend may continue after brief consolidation. in Which case I would like to go past 1.32 which appears to be a strong resistance.

Another theory is that a pin bar was formed piercing the 1.32 level and as we can see the price has fallen back sharply, so it may well be reversal of the trend in which case I would look for an entry to...
  • #524
  • Edited 3:16am Oct 28, 2010 2:23am | Edited 3:16am
Quoting bez3000
I agree with you decentchap, but as the current trend is up i would only be interested it taking a long position. Any short would be counter trend but could well be a good trade based on that pin bar. In the past i would have taken this trade but now i am trying to be disciplined and only trade the way Dan has outlined in this thread.

Whats your view on the lighter round of qe than expected on the dollar? The fall of the dollar has been long due a big correction, maybe this is perfect timing for it?

EDIT: LOL please ignore this post I've just realised I've mixed your quote up with a quote from another thread!!! (usd/chf)

TAXI!!
  • #525
  • Oct 28, 2010 11:17am Oct 28, 2010 11:17am
Just started reading this thread yesterday and i am combining here with Lawgrils thread
http://www.forexfactory.com/showthread.php?t=257876

having a great run on EU bought when broke the 23.8 line
I had a TP set at 100 went to move it up and the tp triggered --F
so placed an other buy stop to catch it if it is still rising
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  • #526
  • Oct 30, 2010 8:31am Oct 30, 2010 8:31am
Hi guys,

Sorry I haven't been around much lately; been very busy at work and just not had the time to check in - it always seems to be busy here when I'm not around lol!

I will catch up this weekend though I hope!

Regards,

Dan
  • #527
  • Oct 30, 2010 9:01am Oct 30, 2010 9:01am
wad do u guys think about USDCHF? a monthly pinbar formed, could it be a sign of trend changing?
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  • #528
  • Oct 30, 2010 9:55am Oct 30, 2010 9:55am
Quoting goldenFishie
could it be a sign of trend changing?
What could be changing here? QE is coming, USD going down and

CHF should catch up Correlation with JPY sooner or later. Not sure why

it's been so weak lately. I think there is another leg down to 0.90 or

lower, possibly.
Viewer Discretion Advised: Shall we shag now or should we shag later? :-)
  • #529
  • Oct 30, 2010 10:03am Oct 30, 2010 10:03am
yep. may as well trade with the trend, which is down, i am long audusd and target is the upper end of its range
  • #530
  • Oct 30, 2010 10:07am Oct 30, 2010 10:07am
something like this possibly.
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  • #531
  • Oct 30, 2010 2:36pm Oct 30, 2010 2:36pm
here is what i think
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  • #532
  • Oct 31, 2010 7:31am Oct 31, 2010 7:31am
Quoting SkyzerFX
What could be changing here? QE is coming, USD going down and

CHF should catch up Correlation with JPY sooner or later. Not sure why

it's been so weak lately. I think there is another leg down to 0.90 or

lower, possibly.
That scenario of another leg down is ideal.... could set up what Dr Alexander Elder terms "the most powerful signal in technical analysis", a divergence between the macd histogram and the price action on daily. When one is talking about any trend, you have to define 'in what timeframe'

But always bear in mind the adage "discipline before vision". One can have the 'vision' of the divergence and keep looking for it, but discipline to trade what one sees objectively overrules all biases.
  • #533
  • Nov 1, 2010 12:55am Nov 1, 2010 12:55am
Quoting goldenFishie
wad do u guys think about USDCHF? a monthly pinbar formed, could it be a sign of trend changing?
I cna offer my view, on the 4 hr chart at least it seems the trend is up...
  • #534
  • Nov 1, 2010 4:29am Nov 1, 2010 4:29am
USD/CHF A pinbar on the fib retracement and near as damn it a round number. Comments on this appreciated.
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  • #535
  • Nov 1, 2010 5:49am Nov 1, 2010 5:49am
Quoting GJP
USD/CHF A pinbar on the fib retracement and near as damn it a round number. Comments on this appreciated.

Hi
We also have a nice pinbar against you on the monthly time frame; please be careful
Peace

Attached Image

  • #536
  • Nov 1, 2010 10:13am Nov 1, 2010 10:13am
Quoting emacro
I cna offer my view, on the 4 hr chart at least it seems the trend is up...
The 4 hr timeframe sees new 20 bar high print on usdchf, still in uptrend in this timeframe...
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  • #537
  • Nov 2, 2010 10:21am Nov 2, 2010 10:21am
What happened to everyone? Dan are you still around mate?
  • #538
  • Nov 2, 2010 11:45am Nov 2, 2010 11:45am
Quoting bez3000
What happened to everyone? Dan are you still around mate?
Hi Bez,

Yes this looks a bit dead... I'm still waiting for the USD/JPY and AUD/USD set-ups you mentioned the other day, and just took today a speculative long on EUR/USD at 1.4020 on the break of the triangle it was into...
  • #539
  • Nov 2, 2010 2:03pm Nov 2, 2010 2:03pm
Yep its dead in here at the mo. Annoying because Im really getting into this method of trading. Im not trading anything until after fomc tomorrow, and markets have clear direction.
  • #540
  • Nov 3, 2010 3:26am Nov 3, 2010 3:26am
Just to pick things up:

Current Trades:

audcad long @ 0.98845
usdchf short @ 0.98500
gbpchf short @ 1.58000

Waiting for setup on:

nzdusd long @ 0.7640 area
usdjpy short @ 83.000 area
usdsgd short @ 1.2900 area
eurcad long @ 1.37500 area

All the areas above are areas of interest to me.
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