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Trend Trading All Pairs

  • #9,061
  • Nov 9, 2010 2:47am Nov 9, 2010 2:47am
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
you are absolutely right. the weekly downtrend and the 1,2,3 formation completed itself on h4 at 114.40. If you are strictly danuk, even a daily engulfing bar completed at 113.93 for entry ala DANuk style. if you want your danuk on the h4, the harami completed itself at 114.55.

Quoting Custos
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.

It rallied to touch the downward trendline on the weekly, then stop cold, reversed with harami(h4), 1,2,3(h4), engulfing bar(daily)
  • #9,062
  • Nov 9, 2010 2:51am Nov 9, 2010 2:51am
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.
i guess the bottomline is that there were at least three potential entry positions on eur/jpy from the time it touches the weekly downward trendline at 115.50 area. (and only the lord knows just how many more will the formed on the way down as hector-like trades formed through midway consolidation and temporary retracements h4 or h1 time frames.)

Yes, it has potential, i can see +800 pips by the time it gets to the weekly swing low.
  • #9,063
  • Nov 9, 2010 2:53am Nov 9, 2010 2:53am
Quoting Bandit
You gave up roughly +273 pips on EUR/AUD. shame on you! hhahaha

yeah, that hurts.
  • #9,064
  • Nov 9, 2010 2:54am Nov 9, 2010 2:54am
EUR/NZD on the weekly.
  • #9,065
  • Nov 9, 2010 2:55am Nov 9, 2010 2:55am
having in mind how I was pip hunting pretty recently, I am making big progress. Need more practice now.
Bandit, are you taking partial profits or only trade full size to the end of the trade?
  • #9,066
  • Nov 9, 2010 2:57am Nov 9, 2010 2:57am
Quoting Bandit
EUR/NZD on the weekly.

I did not have this pair on Primus, but I have it now in IB FX.
It ran away. I am seeing nice retracement line break out on daily.
  • #9,067
  • Nov 9, 2010 2:59am Nov 9, 2010 2:59am
by the way, eur/usd is in a nice place as well
  • #9,068
  • Nov 9, 2010 2:59am Nov 9, 2010 2:59am
Quoting Custos
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.

this is why i am thinking may be taking partial profits is not that bad of idea. Too many BE trades happen. The point is, when to take this partial profit. how many pips relative to risk. if I risk 100 pips, may be I should take partial profit around 200 pips or more.
  • #9,069
  • Nov 9, 2010 3:00am Nov 9, 2010 3:00am
Quoting Custos
by the way, eur/usd is in a nice place as well
yes yes, I am watching. It is following retracement line and it is in place serious support.
  • #9,070
  • Nov 9, 2010 3:01am Nov 9, 2010 3:01am
Quoting shiko
this is why i am thinking may be taking partial profits is not that bad of idea. Too many BE trades happen. The point is, when to take this partial profit. how many pips relative to risk. if I risk 100 pips, may be I should take partial profit around 200 pips or more.
I still disagree, with one runner you are covering all your losses very fast. But just my opinion.
  • #9,071
  • Nov 9, 2010 3:02am Nov 9, 2010 3:02am
it will be interesting to see how this 4H candle closes and what will follow. it is testing retracement line.
  • #9,072
  • Nov 9, 2010 3:04am Nov 9, 2010 3:04am
Quoting Custos
I still disagree, with one runner you are covering all your losses very fast. But just my opinion.

I agree. I think it is lack of experience. Need more confidence in my ability to take this good trades. You are not looking actually for some kind of risk:reward, but just let it run. I would hate to see 300-400 pips winner turnming into BE without me taking any profit. It is going against do not let winner turn into loser part. 300-400 profit and BE, it is almost loser.
  • #9,073
  • Nov 9, 2010 3:04am Nov 9, 2010 3:04am
Quoting Custos
I still disagree, with one runner you are covering all your losses very fast. But just my opinion.
i take partial profits. i cant help it. i usually breakeven the trade at 1:1, either by selling some and incrementally adjusting the SL to compensate or by directly moving sl to entry point. then, i sell 1/2 at 1:2 and let the rest run to major weekly or daily lines. sell a lot there too...leaving a little till eternity.
  • #9,074
  • Nov 9, 2010 3:08am Nov 9, 2010 3:08am
Quoting shiko
I agree. I think it is lack of experience. Need more confidence in my ability to take this good trades. You are not looking actually for some kind of risk:reward, but just let it run. I would hate to see 300-400 pips winner turnming into BE without me taking any profit. It is going against do not let winner turn into loser part. 300-400 profit and BE, it is almost loser.
i cant psychologically let a +400pips turn around on me and BE. i just cant. even if i still have to keep my SL where it is, i will liquidate some positions.
  • #9,075
  • Nov 9, 2010 3:09am Nov 9, 2010 3:09am
BTW, I wonder, when next 4H candle closes for GMT brokers? How can I see when candle opens and when closes?
  • #9,076
  • Nov 9, 2010 3:10am Nov 9, 2010 3:10am
Quoting shiko
I agree. I think it is lack of experience. Need more confidence in my ability to take this good trades. You are not looking actually for some kind of risk:reward, but just let it run. I would hate to see 300-400 pips winner turnming into BE without me taking any profit. It is going against do not let winner turn into loser part. 300-400 profit and BE, it is almost loser.
well, you get used to it, that some trades will become b/e. You have to see the bigger picture. If it goes, 300 to 400 is nothing, try 3,000 to 4,000 or even 10,000 pips.
  • #9,077
  • Nov 9, 2010 3:10am Nov 9, 2010 3:10am
Quoting shiko
BTW, I wonder, when next 4H candle closes for GMT brokers? How can I see when candle opens and when closes?
i dont worry myself about gmt or no gmt. i just trade whatever shows up. i am sure, in the end it will even out.
  • #9,078
  • Nov 9, 2010 3:11am Nov 9, 2010 3:11am
Quoting Bandit
i cant psychologically let a +400pips turn around on me and BE. i just cant. even if i still have to keep my SL where it is, i will liquidate some positions.
I am with you on this one. I think there must be some balance, but math should be involved in when to take partial profit too to make sense. Taking partial profit at 40 pips risking 100 makes no sense for example. at minimum 100 pips but I am thinking may be I need to have partial profit at double of my risk.
  • #9,079
  • Nov 9, 2010 3:11am Nov 9, 2010 3:11am
Quoting Custos
well, you get used to it, that some trades will become b/e. You have to see the bigger picture. If it goes, 300 to 400 is nothing, try 3,000 to 4,000 or even 10,000 pips.
and the nice thing, after a while, that position will pay for all your future losses.
  • #9,080
  • Nov 9, 2010 3:14am Nov 9, 2010 3:14am
Quoting shiko
BTW, I wonder, when next 4H candle closes for GMT brokers? How can I see when candle opens and when closes?
it closes in 2 hours and 47 min.

There is an indicator I use to display time left for the candle. It's called P4L CandleTime.
I don't wanna attach it here, since I don't know if I am allowed to by the original programmer, but you can for sure find it in this forum.
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