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Trend Trading All Pairs

  • #10,261
  • Feb 9, 2011 5:09am Feb 9, 2011 5:09am
http://www.forexfactory.com/showpost...&postcount=350

I forgot to post that I closed eur/aud for +50 pips. Here is the link to the other thread. I am not ready to short it just yet. I am waiting for a few signals.
Does anyone else trade these pairs? I find them to be great for swing trading. Even though the spreads are wider.
  • #10,262
  • Feb 9, 2011 7:12am Feb 9, 2011 7:12am
Hi All,

Where can i get this FX Currency Index from? Cheers

Quoting NightMoves
Here is a snapshot of the FX Currency index showing the strong pairs and weak pairs on different time frames.

--NM
  • #10,263
  • Feb 9, 2011 10:20am Feb 9, 2011 10:20am
Quoting mayorowo
Good day my people,

Here is the update on USDCHF,I just added another long position.

Thanks
Good day,

Here is the update on USDCHF,I just added another long position.

Thanks
Attached Image (click to enlarge)
Click to Enlarge Name: usdchf update 09022011.gif Size: 32 KB
  • #10,264
  • Feb 10, 2011 1:31am Feb 10, 2011 1:31am
Sucks after a 70 pip loss today. Well, that's why we have good money management, huh? Still up on the week though

What do you guys think about a short here? Resistance around UML on 4hr chart.

Sell on trendline break (1hr) or lower confirmation around 3600-3615.

TP: 3520. Weekly pivot, daily midpoint pivot, up trendline, and ADR of 130 confluence.

SL: 3660.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: eurcad.4hr.2.10.11..JPG Size: 234 KB
Click to Enlarge Name: eurcad.1hr.2.10.11.JPG Size: 235 KB
  • #10,265
  • Feb 10, 2011 2:29am Feb 10, 2011 2:29am
I decided to take a small risk entry at 3609 on 15 min momentum. Therefore decreasing my risk by more than half. I'm going to use the top trend line and previous support at 3630 to manage the trade and reduce risk.
Attached Image (click to enlarge)
Click to Enlarge Name: eurcad.15m.2.10.11.JPG Size: 197 KB
  • #10,266
  • Feb 10, 2011 7:59am Feb 10, 2011 7:59am
Obviously this trade is in the money. After analyzing my 1 hr charts, I see that momentum is strong on the 1 hr. I am not going to take the initial target of 3520, unless there is major respect there. Although the day may end up there, I see the move continuing through tomorrow. I see it testing the uptrend line on 4 hr chart. Which is around 3450 area. I am just going to let the market take out my trailing stop. When momentum is in my favor like on the hour chart, i use a fractal trailing stop.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: eurcad.4hr.2.10.11.2.JPG Size: 203 KB
Click to Enlarge Name: eurcad.1hr.2.10.11.2.JPG Size: 235 KB
  • #10,267
  • Feb 10, 2011 9:36am Feb 10, 2011 9:36am
I decided not to trail my stop after all. +80 pips!!!! I have decided to take profits to take back what i lost last night. Feels like consolidation will take place. However, I am looking to reenter this trade later this evening if everything will line up accordingly. Mainly, I am going to use a combination of S/R and momentum. My target as of now is still the same. 3420 area for tomorrow. I will be back tonight to adjust those numbers if necessary.

Happy Trading
Attached Image (click to enlarge)
Click to Enlarge Name: eurcad.1hr.2.10.11.3.JPG Size: 242 KB
  • #10,268
  • Feb 10, 2011 9:42am Feb 10, 2011 9:42am
At new job schedule trading wise is better but still is very restrictive trading wise.
Practically I can follow the martket from 2:30 a.m EST New York to 5:30 a.m. Then 10:00-12:00 a.m. and then only 7:00-9:00 p.m. n between i cannot even check on situation. Trade management wise it sucks.
I started taking partial profits again.But this time only at R;R at minimum 1.5:1 to 2:1. stop to BE the rest runs 3:1 to 4:1.
These 2 months show that trade management is indeed very important as I cannot manage many trades opened during night hours.
had a couple of good big trades this week. and few small losses. I am down in the past 6 weeks after New Year. Mix of bad luck and missed set ups while I am away. but hopefully I am turning around.
But psychologically wise I am doing fine. Winners getting bigger and bigger and I am trying to take as smaller as possible losers. Like risking 25 pips on most trades. Set up on 4H, entry on 15 min. and partial profits. I had many winners which missed take profits turned and killed my stops in these 6 weeks, so, I decided to use partial profits as at least cause I cannot manage trades I can take some profit and be safe.
  • #10,269
  • Feb 10, 2011 10:44am Feb 10, 2011 10:44am
Quoting shiko
At new job schedule trading wise is better but still is very restrictive trading wise.
Practically I can follow the martket from 2:30 a.m EST New York to 5:30 a.m. Then 10:00-12:00 a.m. and then only 7:00-9:00 p.m. n between i cannot even check on situation. Trade management wise it sucks.
I started taking partial profits again.But this time only at R;R at minimum 1.5:1 to 2:1. stop to BE the rest runs 3:1 to 4:1.
These 2 months show that trade management is indeed very important as I cannot manage many trades opened during night hours.
had...
why don't you try automating the intrade management part. Then a program can do that for you, while you work.
  • #10,270
  • Feb 10, 2011 10:54am Feb 10, 2011 10:54am
Quoting Custos
why don't you try automating the intrade management part. Then a program can do that for you, while you work.

I cannot program
  • #10,271
  • Feb 10, 2011 11:06am Feb 10, 2011 11:06am
Quoting shiko
I cannot program
you can learn it
  • #10,272
  • Feb 10, 2011 11:25am Feb 10, 2011 11:25am
Quoting Custos
you can learn it

No time for this. I work and trade from Monday to Friday practically around the clock
  • #10,273
  • Feb 10, 2011 11:56am Feb 10, 2011 11:56am
Quoting shiko
No time for this. I work and trade from Monday to Friday practically around the clock
well, then trade less and learn it instead. Will save you lots of time in the end.
  • #10,274
  • Feb 10, 2011 6:48pm Feb 10, 2011 6:48pm
Quoting Custos
well, then trade less and learn it instead. Will save you lots of time in the end.
I will not waste my time on this. I will just adjust to current schedule.
If I am doing right entries trades should take care of themselves. i can give up some profits due to taking partial ones but as long as partial is taken at same amount I risk or more it is fine.
  • #10,275
  • Feb 10, 2011 6:49pm Feb 10, 2011 6:49pm
BTW, anyone trading oil here? I started demo trading it today. Volatility is unbelievable. strong moves.
  • #10,276
  • Feb 10, 2011 11:40pm Feb 10, 2011 11:40pm
Quoting shiko
I will not waste my time on this. I will just adjust to current schedule.
If I am doing right entries trades should take care of themselves. i can give up some profits due to taking partial ones but as long as partial is taken at same amount I risk or more it is fine.
Well, learning new stuff is never a waste of time. But anyways, it's your choice.

cheers
  • #10,277
  • Feb 11, 2011 1:55am Feb 11, 2011 1:55am
Quoting Custos
Well, learning new stuff is never a waste of time. But anyways, it's your choice.

cheers

Custos, thanks for advice however it would be a waste of my time.
The best solution would be to team up with someone who is good at coding.

Lol
  • #10,278
  • Feb 11, 2011 2:06am Feb 11, 2011 2:06am
Looks interesting. News are coming however at 4:30. G/U made higher low , pin bar not formed yet and trend lines are being tested. would be nice to see it close above trend line

Attached Image (click to enlarge)
Click to Enlarge Name: gu 4h.gif Size: 80 KB


This is how I am entering now.
Signal on higher time frame, entry on 15 min. Looks beautiful. Pin hit right on the button.

Attached Image (click to enlarge)
Click to Enlarge Name: eu 15 min.gif Size: 78 KB
  • #10,279
  • Feb 11, 2011 2:08am Feb 11, 2011 2:08am
EU has had a head and shoulders on 4H. Huge one.
  • #10,280
  • Feb 11, 2011 2:21am Feb 11, 2011 2:21am
here another one.

Attached Image (click to enlarge)
Click to Enlarge Name: ej 4h.gif Size: 80 KB


Attached Image (click to enlarge)
Click to Enlarge Name: ej 15 min.gif Size: 84 KB



this one also worth watching.
bearish candlestick formation on 4h with latest inside bar, plus head and shoulders on 15 min with that small trend line. entry would be very low risk.
generally as long as these attempts kept with say 20-25 pips stops and often it might be closed even for less, once we hit this thing on the button it is a lot of pips well worth covering all losses. this is what I finally did this week.
I am watching but have to goo soon. Will not trade as Friday is a special day for me, but any other day, I would take those trades now without second thought.
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