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Trend Trading All Pairs

  • #9,961
  • Jan 5, 2011 12:02pm Jan 5, 2011 12:02pm
Quoting redsword11
Attachment


crude

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closed most @ BE
  • #9,962
  • Jan 5, 2011 2:53pm Jan 5, 2011 2:53pm
Quoting Custos
I don't know, can't seem to find those posts about the ret. But I found the main pin bar introduction in which it says that you enter on the break of the pinbar.
http://www.forexfactory.com/showpost...ostcount=23250
Look at the lowest part of this post, you will find the attachments.

Also if you look on his personal website and watch some videos he actually defends the high win/loss and inverted R:R ratio concept implying that he still trades on breaks of pinbars with stop on the other side.

At least that's what I found...

Yes, he does as a general rule to let guys know not to enter trade before PB is broken. PB is not PB until it is broken by few pips. He mentioned few times about waiting for retracement after break out.
I will find that place about RET for you and post it here. going to read through his thread and MN thread beginning again.
  • #9,963
  • Jan 5, 2011 2:55pm Jan 5, 2011 2:55pm
Quoting Custos
anyways, my point was actually, that breakouts can also be profitable.

I like them. The problem is to determine when the real one happens and the strong one. Most of the time after break out price still retraces on us and leaves us in DD even if break out then happens., like trading PB break out on G/J yesterday to today. It broke and than retraced a lot but ultimatelly we are up.
  • #9,964
  • Jan 5, 2011 3:27pm Jan 5, 2011 3:27pm
very active demo trading day. much better than live one. entered whatever gave signal and left it run. live went long g/j and g/u. 1 loss and 1 win.
Demo much better. but it shows that psychology is the most important thig in trading. I hesitated and did not trade those other pairs on live.

http://img684.imageshack.us/img684/1598/january34.png

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  • #9,965
  • Jan 5, 2011 3:50pm Jan 5, 2011 3:50pm
Quoting mayorowo
This is a setup,i just entered....I think it shld go well....

What do think guys?
hm, not sure, but I also have an upward bias. But probability is not high I think
  • #9,966
  • Jan 5, 2011 3:52pm Jan 5, 2011 3:52pm
Quoting shiko
I like them. The problem is to determine when the real one happens and the strong one. Most of the time after break out price still retraces on us and leaves us in DD even if break out then happens., like trading PB break out on G/J yesterday to today. It broke and than retraced a lot but ultimatelly we are up.
Why you need to determine when the real one happens?
  • #9,967
  • Jan 5, 2011 3:57pm Jan 5, 2011 3:57pm
Quoting Custos
Why you need to determine when the real one happens?
I do not. I enter, but then think, why did not I wait for retracement
  • #9,968
  • Jan 5, 2011 3:59pm Jan 5, 2011 3:59pm
Quoting shiko
I do not. I enter, but then think, why did not I wait for retracement
hm, if that works for you, then great!! Prosperous new year!
  • #9,969
  • Jan 5, 2011 4:01pm Jan 5, 2011 4:01pm
Quoting Custos
Why you need to determine when the real one happens?

of all trades I entered yesterday only Eur/Usd did not retrace on me. all other had big retracements up to 50 pips. I could have reduced my risk and increased my profit with better R;R. I think, I will try to enter on retracements now on all trades.
  • #9,970
  • Jan 5, 2011 4:03pm Jan 5, 2011 4:03pm
Quoting shiko
of all trades I entered yesterday only Eur/Usd did not retrace on me. all other had big retracements up to 50 pips. I could have reduced my risk and increased my profit with better R;R. I think, I will try to enter on retracements now on all trades.
sound great, as long as you make profits, everything you do is good!
  • #9,971
  • Jan 5, 2011 4:04pm Jan 5, 2011 4:04pm
Quoting Custos
hm, if that works for you, then great!! Prosperous new year!
man, I promise every day that I will enter on retracement. now, what actually happens.

Looks at this, damn, set up, looks good, damn, it is moving, it's gonna fly, I must enter right away or it will go away and I will miss the trade.
Ouch !
  • #9,972
  • Jan 5, 2011 5:41pm Jan 5, 2011 5:41pm
Quoting Custos
I don't know, can't seem to find those posts about the ret. But I found the main pin bar introduction in which it says that you enter on the break of the pinbar.
http://www.forexfactory.com/showpost...ostcount=23250
Look at the lowest part of this post, you will find the attachments.

Also if you look on his personal website and watch some videos he actually defends the high win/loss and inverted R:R ratio concept implying that he still trades on breaks of pinbars with stop on the other side.

At least that's what I found...


James doe snot say wait for retracement on PB but it is his usual topic.

here he mentions waiting for retracement:

http://www.forexfactory.com/attachme...8&d=1119067374
  • #9,973
  • Jan 5, 2011 5:59pm Jan 5, 2011 5:59pm
This looks like both NM and James16 set up confluence on daily. It is inside bar and price poised to test retracement trend line.

Attached Image (click to enlarge)
Click to Enlarge Name: euraud daily.gif Size: 78 KB
  • #9,974
  • Jan 5, 2011 6:43pm Jan 5, 2011 6:43pm
Quoting Custos
hm, if that works for you, then great!! Prosperous new year!

Custos, a question, does every winning trade you take on bpc goes directly into profit or still retraces against you and put you in some DD?
  • #9,975
  • Jan 6, 2011 2:15am Jan 6, 2011 2:15am
Quoting shiko
Custos, a question, does every winning trade you take on bpc goes directly into profit or still retraces against you and put you in some DD?
nope, many winning trades shoot right through and don't retrace back.

Cause essentially you want to have momentum behind the trade, otherwise the probability will be lower that the trade will work out.
  • #9,976
  • Jan 6, 2011 2:50am Jan 6, 2011 2:50am
Quoting Custos
nope, many winning trades shoot right through and don't retrace back.

Cause essentially you want to have momentum behind the trade, otherwise the probability will be lower that the trade will work out.

yeah, I like momentum. essentially I am always afraid of missing out a trade. so, setting for break out set up means I never miss in case of break out but many trades than retrace and only later go into profit. when I started all those trades. all but one went against me., but many then turned winners. most of them.
  • #9,977
  • Jan 6, 2011 2:53am Jan 6, 2011 2:53am
at the moment I am looking to short Eur/Aud. looks perfect kind for break out along the trend set up. especially on daily.

Attached Image (click to enlarge)
Click to Enlarge Name: euraud daily.gif Size: 81 KB
  • #9,978
  • Jan 6, 2011 2:56am Jan 6, 2011 2:56am
tried to enter gbp/aud and gbp/chf on retracement they never came back and just hit my intended targets. feel quite sour.
  • #9,979
  • Jan 6, 2011 3:04am Jan 6, 2011 3:04am
Quoting shiko
yeah, I like momentum. essentially I am always afraid of missing out a trade. so, setting for break out set up means I never miss in case of break out but many trades than retrace and only later go into profit. when I started all those trades. all but one went against me., but many then turned winners. most of them.
you just need to find a way to be consistently net profitable in the end of the day. Everything boils down to that.
  • #9,980
  • Jan 6, 2011 3:06am Jan 6, 2011 3:06am
Quoting Custos
you just need to find a way to be consistently net profitable in the end of the day. Everything boils down to that.

end results so to speak. I guess it is no good to miss entering set ups.
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