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Long Term Pips

  • #241
  • Feb 13, 2011 1:00pm Feb 13, 2011 1:00pm
Oh, does it mean that you take your trading decisions on the basis of the p&i from the close of the day before ?

The currency strength is changing quite a lot from one day to another ... isn't it a problem ?


Quoting brenzaj42
Yes and No, I have already done the homework(p&i) the night before. Now I am following up in the main session to see if it is going my way(3 moving averages) and looking for a pullback to trade.
"A goal without a plan is just a wish" - Antoine de Saint-Exupery
  • #242
  • Feb 13, 2011 3:14pm Feb 13, 2011 3:14pm
I confirm long term trends with P&I. I am already expecting certain pairs to trend during the main session because of my analysis. It may or may not happen. Within every trend, there are days with the trend and days against. The moving averages will just confirm what I was already expecting. I initially posted this entry method to help people with entries into the long term trend.




Quoting trzcinek
Oh, does it mean that you take your trading decisions on the basis of the p&i from the close of the day before ?

The currency strength is changing quite a lot from one day to another ... isn't it a problem ?
  • #243
  • Feb 14, 2011 6:06am Feb 14, 2011 6:06am
i shorted eur/usd 1.3465, it moved quick, i have my stop to breakeven. eur/chf looks good as well, it just broke resistance
  • #244
  • Feb 14, 2011 6:08am Feb 14, 2011 6:08am
eur/usd has good potential on 4hour chart with a fresh cross forming on daily. eur/chf is more of an against trend trade.
  • #245
  • Feb 14, 2011 6:23am Feb 14, 2011 6:23am
Hi Brenzaj42, Nice to hear from you and as always thanks for your help
  • #246
  • Feb 14, 2011 7:57am Feb 14, 2011 7:57am
Hi,

I'm also really grateful that you're back Brenzaj42!
I hope that you can further on help us making the right decisions.

What about the charts in the attachment. Is it worth enter it? Or is it already too late?
Attached Image(s) (click to enlarge)
Click to Enlarge Name: eur cad daily.gif Size: 18 KB
Click to Enlarge Name: eur cad weekly.gif Size: 18 KB
  • #247
  • Feb 14, 2011 8:10am Feb 14, 2011 8:10am
You have to decide if it is worth it. For me it is too choppy and not really trending on the big timeframes. Although, if you drop down to a 4 hour chart, it has about 200 pips to go until the nearest resistance point.

I also got stopped out breakeven on eur/usd. Nothing pushing the market right now.



Quoting Raul Ramirez
Hi,

I'm also really grateful that you're back Brenzaj42!
I hope that you can further on help us making the right decisions.

What about the charts in the attachment. Is it worth enter it? Or is it already too late?
  • #248
  • Feb 14, 2011 8:17am Feb 14, 2011 8:17am
In response to the last post, the eur/cad has been trending in the last couple main sessions. It also has broken a resistance point, like i said before, it also has about 200 pips of room to move. If you can find an entry with only 20 pips, it may be worth it but other than that, I wouldn't touch it.
  • #249
  • Feb 14, 2011 5:34pm Feb 14, 2011 5:34pm
Entered CADJPY and AUDNZD today based on 15m pull backs - 30pip and 70pip SL (wanted SL to be placed in price gap on AUDNZD) ...looking for some good moves up tomorrow...or possible stop out on CADJPY...we'll see...
  • #250
  • Feb 14, 2011 6:27pm Feb 14, 2011 6:27pm
that is all well and good but you still have to develop trade plans based on the daily charts. the cad/jpy has resistance at 84.60 which it retested today. Hopefully you got stopped out breakeven. the aud/nzd looks good on the daily but the point of the pullbacks is to get a small stop. but, like i said it looks good on the daily.




Quoting quintodc
Entered CADJPY and AUDNZD today based on 15m pull backs - 30pip and 70pip SL (wanted SL to be placed in price gap on AUDNZD) ...looking for some good moves up tomorrow...or possible stop out on CADJPY...we'll see...
  • #251
  • Feb 14, 2011 6:48pm Feb 14, 2011 6:48pm
Quoting brenzaj42
that is all well and good but you still have to develop trade plans based on the daily charts. the cad/jpy has resistance at 84.60 which it retested today. Hopefully you got stopped out breakeven. the aud/nzd looks good on the daily but the point of the pullbacks is to get a small stop. but, like i said it looks good on the daily.
Many thanks for your feedback Brenzaj - much appreciated! Good point about the resistance level. I am still in both trades and hoping for a break on the CADJPY! If it retests and fails I will move to BE.

One question if I may Brenzaj: Have you only recently started this 15m entry strategy? Only previously in the thread you stated the use of a 100pip SL and wanting to give the trade "room to move". Given the number of pips that can be made on this method a 100pip SL sounds fairly reasonable to me, although I do appreciate that a lower SL provides for a potentially much higher leverage due to higher £/pip that can be used...

Thanks again

Doug
  • #252
  • Feb 14, 2011 6:51pm Feb 14, 2011 6:51pm
Yes, I have just started trying to find ways of reducing risk and still getting in the long term trends. I have found this works although I get stopped out breakeven a lot more. But now, I can play with more lots. When I hit a big trade it is worth a lot more.




Quoting quintodc
Many thanks for your feedback Brenzaj - much appreciated! Good point about the resistance level. I am still in both trades and hoping for a break on the CADJPY! If it retests and fails I will move to BE.

One question if I may Brenzaj: Have you only recently started this 15m entry strategy? Only previously in the thread you stated the use of a 100pip SL and wanting to give the trade "room to move". Given the number of pips that can be made on this method a 100pip SL sounds fairly reasonable to me, although I do appreciate that a lower SL provides...
  • #253
  • Feb 14, 2011 7:19pm Feb 14, 2011 7:19pm
Quoting brenzaj42
Yes, I have just started trying to find ways of reducing risk and still getting in the long term trends. I have found this works although I get stopped out breakeven a lot more. But now, I can play with more lots. When I hit a big trade it is worth a lot more.
Yes, I can see that would work nicely...!

Would you then be tempted to close earlier than normal to protect the, say, 400pips that has produced profits that normaly a 1,200 pip trade would have produced?

Are you in many trades at the moment?
  • #254
  • Feb 15, 2011 6:26am Feb 15, 2011 6:26am
Not tempted at all to close any trades. I am in several trades at the moment.




Quoting quintodc
Yes, I can see that would work nicely...!

Would you then be tempted to close earlier than normal to protect the, say, 400pips that has produced profits that normaly a 1,200 pip trade would have produced?

Are you in many trades at the moment?
  • #255
  • Feb 17, 2011 3:41pm Feb 17, 2011 3:41pm
I think this strategy is great and once I have practiced and practiced can see it working very nicely.

I like Brenzaj's 15m entry system and I will be using that to get good entries, BUT I have decided to stay with a 100pip saftey stop as yesterday I was stopped out of both AUDNZD and AUDJPY by spikes down and then missed the upward moves today.

For me at the stage I'm at, I'm happy with a reduced £/pip simply to reduce risk of being stopped out ! It's a personality thing I guess, but I just don't like re-entering, especially if its a worse price I had before !

Just some thoughts...

Doug
  • #256
  • Feb 17, 2011 8:04pm Feb 17, 2011 8:04pm
Quoting quintodc
I think this strategy is great and once I have practiced and practiced can see it working very nicely.

I like Brenzaj's 15m entry system and I will be using that to get good entries, BUT I have decided to stay with a 100pip saftey stop as yesterday I was stopped out of both AUDNZD and AUDJPY by spikes down and then missed the upward moves today.

For me at the stage I'm at, I'm happy with a reduced £/pip simply to reduce risk of being stopped out ! It's a personality thing I guess, but I just don't like re-entering, especially if its a...
I agree with you. I am using the higher Stop loss and adjusting my position size for now just due to the in-experience i have with this Method. But the potential is there to make some decent pips if I can get in and stay in for a while . I also believe a lot of the markets are ranging right now also so it hard to find a good trend, but I am having fun with this type of trading. Thanks again for introducing it Brenzaj
Always Learning
  • #257
  • Feb 18, 2011 3:01am Feb 18, 2011 3:01am
Hey guys, I use both methods of entry. I was just reading over some posts where people had stated that they had problems with entering these trends. I was just trying to give them an alternative method. If it is a strong trend, you could probably have a number of different ways of getting in. To each his own.
  • #258
  • Feb 18, 2011 7:13pm Feb 18, 2011 7:13pm
Quoting brenzaj42
Hey guys, I use both methods of entry. I was just reading over some posts where people had stated that they had problems with entering these trends. I was just trying to give them an alternative method. If it is a strong trend, you could probably have a number of different ways of getting in. To each his own.
Thanks Brenzaj, we definitely appreciate it !
  • #259
  • Feb 23, 2011 8:54am Feb 23, 2011 8:54am
Hi Brenzaj, let us know for new trades you enter...
  • #260
  • Mar 22, 2011 10:49am Mar 22, 2011 10:49am
I found this http://fxtrade.oanda.com/analysis/currency-heatmap. There are 22 Currencies and all shows that the EUR has strengthened against others.

if I go bullish on the EUR, I'm with the trend

is this a parallel analysis?
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