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Trend Trading All Pairs

  • #9,161
  • Nov 11, 2010 4:56am Nov 11, 2010 4:56am
Quoting Custos
It's just, if I look at the weekly chart, then price would at least have to go above 88.00, to make me think that the trend could be changing. The trend is just so strong and already such a long time on its way, that even the daily chart is not significant enough.

It could retrace the next couple of weeks, but a real trend change on that pair needs more than taking out such a small S/R level. Everything needs to be put in perspective.

Just my opinion.

yes, I am telling that we must watch for s/r levels and trend lines. I am not telling it has change but there is always probability. Summer 2008, up trend for many pairs looked strong and was there for years...
  • #9,162
  • Nov 11, 2010 4:59am Nov 11, 2010 4:59am
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  • #9,163
  • Nov 11, 2010 5:00am Nov 11, 2010 5:00am
nice, if E/U breaks above 1.3825-1.3850 and stays there it would be a great 1-2-3 on 4H. Hopefully E/U in this case will be ready for big things on upside. Today is holiday... no news, but I already saw many times price moving strongly on holidays when no news interfere.
  • #9,164
  • Nov 11, 2010 5:03am Nov 11, 2010 5:03am
Friendly reminder. Eur/Aud is testing it's lowest point ever at 1.3660.
I will be looking for bpc there if any.
  • #9,165
  • Nov 11, 2010 5:04am Nov 11, 2010 5:04am
Quoting redsword11
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only managed to catch a few on this, PA overnight was misleading
  • #9,166
  • Nov 11, 2010 5:05am Nov 11, 2010 5:05am
Quoting shiko
Friendly reminder. Eur/Aud is testing it's lowest point ever at 1.3660.
I will be looking for bpc there if any.

also, check EN DAILY UP TRENDLINE
  • #9,167
  • Nov 11, 2010 5:20am Nov 11, 2010 5:20am
Quoting redsword11
also, check EN DAILY UP TRENDLINE

thanks redsword, I got it.
  • #9,168
  • Nov 11, 2010 5:49am Nov 11, 2010 5:49am
Quoting shiko
I am short Eur/Cad at 1.3770. stop 40 pips at 1.3810. TP at 1.3705. R;R is 1.5. it is moving down nicely on daily but that support below, it can give some nasty price action.
Also a 50% retracement and round number.... could make a nice short over the coming weeks if it reaches upwards trend line
  • #9,169
  • Nov 11, 2010 6:02am Nov 11, 2010 6:02am
Quoting shiko
I mean his original. when he trailed by setting stops at RN. 100 pips behind.
I think people are too concerned with 1000 pips trades. as long as our wins are bigger and hit rate is good, why to care. especially when trade size must be cut and pip's worth is much smaller.
He was doing very well with those trailing stops making up to 2000 net pips monthly by the way with excellent hit rate.
obviously when I have candle formation it is good, but overall his original entry method is also very good. both can be used and NightMoves/ Hector's method...

I agree with you here shiko, the pip value becomes much less as the stop loss has to become much greater with these daily candle setups.

I think the reason dan can hang on for these long 1000 pip plus trades is because his account size has probably increased considerably, so he is now happy making a smaller percentage return on his account compared to his 2009 strategy, which yielded possibly a higher return but setup were maybe less probable.

For instance last night i was waiting for the gbp/usd candle to finish forming on the daily to give me a clear sign for entry, now this candle is nearly 200 pips long. That means at least a 2oo pip stop loss. Not ideal, unless you have a considerable account size.
  • #9,170
  • Nov 11, 2010 6:04am Nov 11, 2010 6:04am
I am currently shitting bricks over my E/U long, hit 2 pips away from my BE stop. Please NOOOOOOOOOOOOOOOOOOOOOOOO
  • #9,171
  • Nov 11, 2010 6:07am Nov 11, 2010 6:07am
Quoting shiko
I am currently shitting bricks over my E/U long, hit 2 pips away from my BE stop. Please NOOOOOOOOOOOOOOOOOOOOOOOO
Nice to see the experienced guys sometimes shit bricks too
  • #9,172
  • Nov 11, 2010 6:08am Nov 11, 2010 6:08am
Hi all
Some where in this thread someone posted a link to Hector's videos on youtube. I cant seem to find it now, would someone please post that link again or a link to that link? It would be greatly appreciated.

thanx a lot
Wade
  • #9,173
  • Nov 11, 2010 6:09am Nov 11, 2010 6:09am
Quoting NaughtyPip
I agree with you here shiko, the pip value becomes much less as the stop loss has to become much greater with these daily candle setups.

I think the reason dan can hang on for these long 1000 pip plus trades is because his account size has probably increased considerably, so he is now happy making a smaller percentage return on his account compared to his 2009 strategy, which yielded possibly a higher return but setup were maybe less probable.

For instance last night i was waiting for the gbp/usd candle to finish forming on the daily to give...

Yes, I agree with this and one more point.
I want to reach a level when i can manage OPM. This style with 1000 pips trades just do not fit into this. Clients want money... and me too.
His first approach is absolutelly perfect. what's not good about 2000 net pips monthly following trend his original way? I understand he want to watch amrket as little as possible, but with his first approach it doe snot require much time either.

I saw Eur/Cad as 38Fib retracement. but anyway, 38-62Fib is all good. I am only seeing that Eur/Usd and Eur/Cad are mirroring each other moves. I have each one trade on separate accounts.
  • #9,174
  • Nov 11, 2010 6:10am Nov 11, 2010 6:10am
Quoting tritan
Nice to see the experienced guys sometimes shit bricks too
Man, I am not experienced yet, but thanks. I have been trading only 2 years. Not like Custos, NightMoves and Mortisian. Those are pros...
But I already do let my trades run...
  • #9,175
  • Nov 11, 2010 6:13am Nov 11, 2010 6:13am
Quoting shiko
Man, I am not experienced yet, but thanks. I have been trading only 2 years. Not like Custos, NightMoves and Mortisian. Those are pros...
But I already do let my trades run...
Compared to me you're experienced and i'm learning from you too as I read through the thread under the radar. Keep it up
  • #9,176
  • Nov 11, 2010 6:13am Nov 11, 2010 6:13am
Eur/Jpy acts funny. Provided a lot of scalping opportunities for the way I used to trade. very nice indeed.
  • #9,177
  • Nov 11, 2010 6:14am Nov 11, 2010 6:14am
Quoting tritan
Compared to me you're experienced and i'm learning from you too as I read through the thread under the radar. Keep it up
Thank you. Lesson one for Shiko. No partial profits
  • #9,178
  • Nov 11, 2010 6:15am Nov 11, 2010 6:15am
Quoting shiko
but with his first approach it doe snot require much time either.
Shiko, any chance you could pass me on a link to his first approach as it sounds like I need to read up on that one too. Cant even get myself 2000 pips a year never mind a month
  • #9,179
  • Nov 11, 2010 6:15am Nov 11, 2010 6:15am
Quoting shiko
Thank you. Lesson one for Shiko. No partial profits
Love that one as never really agreed with it anyway
  • #9,180
  • Nov 11, 2010 6:23am Nov 11, 2010 6:23am
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