Trend Trading All Pairs | Page 490 | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

Trading correlation pairs by using the other pairs 843 replies

28 Pairs Trading Panel (Multi-pairs) 0 replies

Export All pairs or selected pairs to .csv with script 3 replies

Daily Bar Analysis - All Pairs/All Welcome 15 replies

Trend Trading All Currency Pairs 3 replies

Attachments: Trend Trading All Pairs
Exit Attachments

Trend Trading All Pairs

  • #9,781
  • Dec 30, 2010 1:15am Dec 30, 2010 1:15am
i would like to close this practice trade a little earlier @ 81.45

Quoting Jungles
actually i wouldnt mind a short, but missed the entry and wont take it if price comes back

but will note it and see if it gets down to 81.20
  • #9,782
  • Dec 30, 2010 2:16am Dec 30, 2010 2:16am
Quoting shiko
because I used to have problem with stops from time to time.
Generally it happened end of January 2010.
I ended 2009 slightly up. I really had problems than with letting profitable trades run. Then one day in January 2010, I entered long Gbp?usd right after news. Price moved with such speed, and I made few mistakes. Added to losing position and moved stops. lost 10% in 1 day. and more than I was up in 2009. Generally speaking, with No brainers you are going against price direction. You must know thisas you mentioned you are familiar. so, I got...
yep, I know what you mean. For me no brainer works better in ranging than in trending markets. And normally you either miss lots of moves if you identified the S/R levels slightly wrong or you get stopped out a lot.
  • #9,783
  • Dec 30, 2010 2:19am Dec 30, 2010 2:19am
Quoting shiko
last trade I moved stop was short G/J in November but not as serious as than in December. I actually became good at trading back draw downs. Had one of 10% in July and trade back within same month and added 2%. The thing is, if I can trade back DD like this, I can trade this on too.
I should have been way better his year than I am. But progress is really big especially last 6 months.
Custos, I remember you mention you are trading without take profit. Ok, but what is the size of your stops? in pips? I mean on average what is your stop loss pip size?...
That really depends on the strategy. For hector setups on h4 it's probably around 20 - 30 pips. The higher you go in time-frame, the higher the stop size.

Well and as I said in a previous post, I am right now testing if taking profit might still be better cause of the compounding effect. Right now I found that taking profit with high R:R is the best in terms of profitability. But of course hit-rate goes down a lot the higher the R:R.
  • #9,784
  • Dec 30, 2010 3:20am Dec 30, 2010 3:20am
Quoting Custos
That really depends on the strategy. For hector setups on h4 it's probably around 20 - 30 pips. The higher you go in time-frame, the higher the stop size.

Well and as I said in a previous post, I am right now testing if taking profit might still be better cause of the compounding effect. Right now I found that taking profit with high R:R is the best in terms of profitability. But of course hit-rate goes down a lot the higher the R:R.

The problem is the bigger the stop the harder to get that large R:R.
  • #9,785
  • Dec 30, 2010 3:42am Dec 30, 2010 3:42am
Quoting shiko
The problem is the bigger the stop the harder to get that large R:R.
It depends, if you have a large formation on the weekly for example, like a triangle on the weekly, and get now a bpc. Stop could be as big as 400 pips but the target is still far away maybe a couple of thousand pips.

All depends on which time-frame the setup is.
  • #9,786
  • Dec 30, 2010 4:33am Dec 30, 2010 4:33am
Quoting Custos
It depends, if you have a large formation on the weekly for example, like a triangle on the weekly, and get now a bpc. Stop could be as big as 400 pips but the target is still far away maybe a couple of thousand pips.

All depends on which time-frame the setup is.

yes, but it also depends upon can someone stay in trade for so long as to get those thousand pips I want to trade OPM, firms usually do not give funds to such a long term traders and I have no much funds to follow with this strategy on my own. Hence I am trying to be reasonable with profits and losses.
  • #9,787
  • Dec 30, 2010 4:59am Dec 30, 2010 4:59am
Quoting shiko
yes, but it also depends upon can someone stay in trade for so long as to get those thousand pips I want to trade OPM, firms usually do not give funds to such a long term traders and I have no much funds to follow with this strategy on my own. Hence I am trying to be reasonable with profits and losses.
I don't know what is long-term for you. But in general, even what we consider long-term is very short-term to medium term for most firms.

You don't have to hold onto a trade for years to make a couple of thousand pips. 2 to 5 months is way enough to get that kind of pips, and that is by no standards long-term (if you look into trading books). So I wouldn't worry about that...
  • #9,788
  • Dec 30, 2010 5:06am Dec 30, 2010 5:06am
a good close under 126.02 and i would be happy to short
Attached Image (click to enlarge)
Click to Enlarge Name: 2010-12-30_2104.png Size: 35 KB
  • #9,789
  • Dec 30, 2010 5:10am Dec 30, 2010 5:10am
Quoting Jungles
a good close under 126.02 and i would be happy to short
yep, and on the weekly it is now breaching support too. So, gbp/jpy will be high probability in the upcoming weeks for shorts.
Attached Image (click to enlarge)
Click to Enlarge Name: gbpjpy w1 30.12.2010.gif Size: 20 KB
  • #9,790
  • Dec 30, 2010 5:14am Dec 30, 2010 5:14am
GBPNZD being very friendly

TP adjusted slightly

Quoting Jungles
lets see if we can get there
Attached Image (click to enlarge)
Click to Enlarge Name: 2010-12-30_2111.png Size: 29 KB
  • #9,791
  • Dec 30, 2010 5:17am Dec 30, 2010 5:17am
i am glad you are with me my friend.........all systems down

Quoting Custos
yep, and on the weekly it is now breaching support too. So, gbp/jpy will be high probability in the upcoming weeks for shorts.
  • #9,792
  • Dec 30, 2010 5:20am Dec 30, 2010 5:20am
Quoting Custos
I don't know what is long-term for you. But in general, even what we consider long-term is very short-term to medium term for most firms.

You don't have to hold onto a trade for years to make a couple of thousand pips. 2 to 5 months is way enough to get that kind of pips, and that is by no standards long-term (if you look into trading books). So I wouldn't worry about that...

yeah, if to look back few months and check where is price on many pairs it looks pretty obvious but not immediately when you are in the trade. I have not got to that level of patience. I usually target some key levels around RN and S/R. but few pips away. For example, i targeted 108.00 for E/J and 130,00 and then 127.00 for G/J. Especially it is clean on G/J trade as I took both targets . I have not checked if the price retraced after hitting 130.000 to take out my stop loss for that trade before going down to 127.00. I will. It took about 2 weeks for the price to get to 127.00
  • #9,793
  • Dec 30, 2010 5:23am Dec 30, 2010 5:23am
In the coming year I am concentrating on NightMoves method and James16. NightMoves on 4H and James on 4H to daily.

Custos, I think that you got it right when you mentioned take profits and compounding. I want to try it too.
  • #9,794
  • Dec 30, 2010 5:34am Dec 30, 2010 5:34am
forgot about that psych 2.00000...........60pip bounce in 10mins

perhaps 2.0010 would have been a smarter exit, price may linger just out of reach of my TP for weeks


Quoting Jungles
GBPNZD being very friendly

TP adjusted slightly
  • #9,795
  • Dec 30, 2010 12:00pm Dec 30, 2010 12:00pm
Quoting mayorowo
i got that Custo,You are right...am still on with EURAUD ride, am loving it.

you must have over a 1000pips by now. good work
  • #9,796
  • Dec 30, 2010 12:03pm Dec 30, 2010 12:03pm
Quoting Custos
I don't know what is long-term for you. But in general, even what we consider long-term is very short-term to medium term for most firms.

You don't have to hold onto a trade for years to make a couple of thousand pips. 2 to 5 months is way enough to get that kind of pips, and that is by no standards long-term (if you look into trading books). So I wouldn't worry about that...

yeah, 2 to 5months is more than enough. i was watching your eur/chf trade from short at 1.3500
Quoting Custos
eur/chf daily chart. A definite short.

Bouncing off from three trendlines.
from 1.3500, it is currently over 1100 pips. excellent
  • #9,797
  • Dec 30, 2010 12:12pm Dec 30, 2010 12:12pm
Quoting shiko
GBP/AUD you got yourself a runner. It is breaking under 1.5800. excellent trade
indeed, another 1000 pips runnere in two months or so.

Quoting Mortician.
You know the strangest thing: i wont be surprised at all if the greenius trade worked(to some extent) on that GBP/CHF. But i cant emphasize it enough: trade with the trend.
Indeed. GBP/CHF eventually went down.....by 1000 pips....
  • #9,798
  • Dec 30, 2010 1:30pm Dec 30, 2010 1:30pm
short with target yet to be determined, but ~200 pips

Quoting Jungles
a good close under 126.02 and i would be happy to short
Attached Image (click to enlarge)
Click to Enlarge Name: 2010-12-31_0527.png Size: 27 KB
  • #9,799
  • Dec 30, 2010 1:48pm Dec 30, 2010 1:48pm
TP reached

i've been using this strategy for just a short time and have found it a very pleasant way to trade, i do have a prior history trading, so concede this does make it a bit easier

nevertheless, looking forward to advancing this strategy in 2011

see you all after 7th Jan

Quoting Jungles
GBPNZD being very friendly

TP adjusted slightly
Attached Image (click to enlarge)
Click to Enlarge Name: 2010-12-31_0544.png Size: 34 KB
  • #9,800
  • Dec 30, 2010 4:41pm Dec 30, 2010 4:41pm
Okay, let's start a new discussion.

What do you guys think is more important for compounding purposes.

High (e.g. 70%) Win-rate with negative R:R or high R:R with very low win-rate (e.g. 30%)?
Since I believe there is always a trade-off between win-rate and R:R, it is a valid discussion point.

As some of you know, I have been backtesting profit taking with high R:R for quite a bit. It still looks like the best way for me of compounding, but shiko's experiment made me think about win-rates.

Now, I was also thinking if we decrease the R:R to 1:1 or even less, which should increase our win-rate, maybe we have a higher compounding effect.
Gonna backtest it in the upcoming days, but thought it would make a nice discussion in the mean-time.

And with compounding I mean to always take a percentage of the new account balance, thus increase trade-size slowly but surely (compounding effect).
5 traders viewing now