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Trend Trading All Pairs

  • #9,041
  • Nov 9, 2010 1:26am Nov 9, 2010 1:26am
Quoting Custos
This is a post about how to find your edge in this business.

What is our biggest problem as discretionary traders? It is really hard and takes long time to backtest our systems, since we have to do that manually by opening an excel sheet and typing in opening price, opening date, closing price, closing date and so on (except if you are an excellent programmer). And since you can already see the PA after your "supposed" entry, you unconsciously will bias your entry choices.
Secondly, you would also need to be a really good statistician...

i will appreciate links to forex tester and market system analyzer

thank you.
  • #9,042
  • Nov 9, 2010 1:27am Nov 9, 2010 1:27am
Quoting Bandit
i will appreciate links to forex tester and market system analyzer

thank you.
well, I think I am not allowed to post links, so I will send you a PM
  • #9,043
  • Nov 9, 2010 1:45am Nov 9, 2010 1:45am
Quoting Iamfx
Shiko
Still 2.5 hrs to go for this to finish forming on zero gmt but if it does will you trade the upside break of it or will you wait for the BPC?

I went to bed I wait . but I am short Eur/Chf. it is painfully slow. NightMoves set up on weekly.
  • #9,044
  • Nov 9, 2010 1:57am Nov 9, 2010 1:57am
Ok finally is is moving. My plan to close half position around 1.3300 and let the rest run.
  • #9,045
  • Nov 9, 2010 1:59am Nov 9, 2010 1:59am
BTW, Custos, are you watching GBP/JPY. it looks like it is breaking reatacement line and since we are on daily/ weekly downtrend it might be that down trend returning.
  • #9,046
  • Nov 9, 2010 2:00am Nov 9, 2010 2:00am
Fot GBP/USD it looks like better to wait for that retracement line breakout and bpc.
  • #9,047
  • Nov 9, 2010 2:11am Nov 9, 2010 2:11am
Quoting shiko
BTW, Custos, are you watching GBP/JPY. it looks like it is breaking reatacement line and since we are on daily/ weekly downtrend it might be that down trend returning.
well, as I told you, I am not gonna sell into a triple bottom, except if gbp/jpy would retrace back to 140ish, then I would think about a sell.
  • #9,048
  • Nov 9, 2010 2:15am Nov 9, 2010 2:15am
Quoting NaughtyPip
Ive mentioned this before, these are inside bar setups, which we already actually use to further confirm certain setups (without the need for ma's i might add) Check your 1 hr chart, the inside bar was there.
thanks for the clarification
  • #9,049
  • Nov 9, 2010 2:15am Nov 9, 2010 2:15am
I think few mistakes really down railed my overall performance. Like not seeing to set proper take profit on Eur/Aud,( look where it is now) entering E/U trade on Friday without confirmation and taking PB candle not from GMT broker.
I started wondering, does trading from GMT broker chart influences entries for NightMoves/ Hector's method?
  • #9,050
  • Nov 9, 2010 2:17am Nov 9, 2010 2:17am
Custos, btw, have you tested the method we all currently trade on that tester? But I think it can be done for only mature trader of this style who is patient and follow all the rules.
  • #9,051
  • Nov 9, 2010 2:19am Nov 9, 2010 2:19am
Eur/Jpy is going gaga. ok, I am looking for bpc under 111.55 to enter.
  • #9,052
  • Nov 9, 2010 2:20am Nov 9, 2010 2:20am
Quoting shiko
I think few mistakes really down railed my overall performance. Like not seeing to set proper take profit on Eur/Aud,( look where it is now) entering E/U trade on Friday without confirmation and taking PB candle not from GMT broker.
I started wondering, does trading from GMT broker chart influences entries for NightMoves/ Hector's method?
I think only slightly.
  • #9,053
  • Nov 9, 2010 2:22am Nov 9, 2010 2:22am
Quoting shiko
Custos, btw, have you tested the method we all currently trade on that tester? But I think it can be done for only mature trader of this style who is patient and follow all the rules.
yep, I did. And immature traders won't make it in this game. Patience and discipline is a requirement not an option in this business.
  • #9,054
  • Nov 9, 2010 2:22am Nov 9, 2010 2:22am
actually this is what I am looking at:
again, it is NightMOves set up on weekly with execution on daily/ 4H

Attached Image (click to enlarge)
Click to Enlarge Name: eurjpy daily.gif Size: 88 KB
  • #9,055
  • Nov 9, 2010 2:28am Nov 9, 2010 2:28am
Quoting shiko
actually this is what I am looking at:
again, it is NightMOves set up on weekly with execution on daily/ 4H

Attachment
and this is where smart traders already could have entered.
If you look at the two bars that went up and down at the RN and take them together, then you see that they are a pinbar. You could have entered right at the break of these two bars.

Just showing possibilities here. by the way this is e/j h4 chart
Attached Image (click to enlarge)
Click to Enlarge Name: eurjpy h4 9.11.2010.gif Size: 23 KB
  • #9,056
  • Nov 9, 2010 2:35am Nov 9, 2010 2:35am
Quoting Custos
and this is where smart traders already could have entered.
If you look at the two bars that went up and down at the RN and take them together, then you see that they are a pinbar. You could have entered right at the break of these two bars.

Just showing possibilities here. by the way this is e/j h4 chart

It means that Custos already in

if you are this is a very good trade with big potential.
I kinda did not notice. was watching too many pairs. takes time.
  • #9,057
  • Nov 9, 2010 2:38am Nov 9, 2010 2:38am
Quoting shiko
It means that Custos already in

if you are this is a very good trade with big potential.
I kinda did not notice. was watching too many pairs. takes time.
yeah, I would be pretty dumb to not enter, if I see a setup
  • #9,058
  • Nov 9, 2010 2:39am Nov 9, 2010 2:39am
Quoting shiko
I think few mistakes really down railed my overall performance. Like not seeing to set proper take profit on Eur/Aud,( look where it is now) entering E/U trade on Friday without confirmation and taking PB candle not from GMT broker.
I started wondering, does trading from GMT broker chart influences entries for NightMoves/ Hector's method?

You gave up roughly +273 pips on EUR/AUD. shame on you! hhahaha
  • #9,059
  • Nov 9, 2010 2:40am Nov 9, 2010 2:40am
Quoting shiko
Eur/Jpy is going gaga. ok, I am looking for bpc under 111.55 to enter.
that will be my second entry position.
  • #9,060
  • Nov 9, 2010 2:43am Nov 9, 2010 2:43am
Quoting Custos
and this is where smart traders already could have entered.
If you look at the two bars that went up and down at the RN and take them together, then you see that they are a pinbar. You could have entered right at the break of these two bars.

Just showing possibilities here. by the way this is e/j h4 chart
but it's amazing how this bitch rallied up to stop me out only to go down again. That's why it's important to keep the faith that the long-term trend will continue.
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