Mr. Trend's PA Setup Extravaganza

Hey bro, thanks. Yeah, I just started a myFxBook but I'm having problems with this MT4 setup. I keep getting off quotes and it won't let me close my positions, so I'm just gonna have to ditch it and open up with a different demo.

No prop trading here... I don't want to work as a prop trader.

Hey Mr Trend

Do u wait for a daily bar close to enter or do u enter from a lower time frame? How about exit, full bar or stoploss?

I will generally do both -- enter at daily bar close or look for a setup on a lower timeframe that coincides with PA forming on the daily...

For my exits, I almost always wait until my profit target is hit, or I will keep moving my SL up to right near areas of resistance as a trailing stop.

Let's see if we get any PA around 1.6150

Hello All My friends here.
May all the Nations of the WORLD have "Life, Liberty and Pursuit of Happiness"
in their countries! May all of you my friends have GOD'S Blessings throughout the YEAR and Years to come! Many Many PIPS to you all always! Amen! Amen!
BOMI
Houston, Tx.

Buy GBP/USD at 1.6075 TP 1.6140.
Good Luck!

Thank you. Mr. Trend.

I have been reading this thread and What a great thread it is!!
Thanyou for sharing your trading knowledge with us.

please, keep sharing

thank you

rey

A nice pinbar setup.

GBPUSD BEOB...

Short GBPUSD 1.6041 SL 1.6145
Short GBPCHF 1.3595 SL 1.3710

I'm leaving TP open on both of these because I believe both of these are on a longer term trend downward and I want to see what they do at the next level of support before I just outright close them.

Thank you and welcome to FF.

Just want to point out that the GBPUSD trade was a mistake because I was basing it off of the Sunday bar. I didn't realize that this demo account uses that... So it would not be a trade that I would've normally put on... (I don't use Sunday bars).

Hi MR Trend, Enjoying your trade activity.
Thanks for clearing this up made me a bit confused for your take on GBP/USD.
GBP/CHF great trade, i have SL at same spot.

Wow its very nice to see the legendary Mr Trend post again. Im looking forward to see more of your posts.

I was also looking at this pair, but then my computer let me down today and i missed the opportunity.

Glad you visited my thread. Yeah, GBPCHF is on a tear... I shorted it today at 3595...

I've gotten some PMs lately asking a variety of questions, so I thought I'd post some fun facts about me... heh.

1. I have been trading for eight years. It's been a horrible road to be quite honest, but I'm consistently profitable at this point in my career, so I can't complain. Seriously though, the first six years sucked. I wouldn't wish it on anyone.

2. I don't like to give out too much information about my personal trading aspirations, how much I've made, etc., because, well, it's no one's business, which I'm sure most people understand.

3. I only trade Forex these days. I used to be a Futures trader -- the mini-Dow, the Hang Seng (those were the days), and everything in between.

4. As you can tell, I trade price action. That's not just bullish outside bars or pin bars. I'm talking about head and shoulders, pennants, triangles, etc...

5. On average, my stops are anywhere from 75-150 pips and my profit targets end up being around 150-200 pip range. I'm pretty close to a 1.3:1 reward/risk ratio, although to be honest, I don't even track that stuff because I really don't think it adds any value to what I do.

6. I believe in keeping things simple. I can't stand looking at someone's charts and basically seeing a 4th of July fireworks celebration with crayola all over it.

7. I'm an aggressive trader. I know this. That's why I trade Dailys because it keeps me in check. If I were a daytrader, I'd have anxiety issues. I have a hard enough time not pulling the trigger early on a daily bar let alone trying to deal with all the traffic that is day trading...

8. Day trading makes me grouchy.

9. One of these days I'll go pro, but in the meantime I grind away until it's time to pull the trigger. When I'm ready, I'll know it. There's more to the decision of trading full-time then simply having the account needed to do so. There's a lot more to it than that.

10. Do yourself a favor and learn what moves the markets. Do a search for "Darkstar" and read some of his posts. He gets it. Learn how to trade and how to manage your money. Managing your money is the biggest issue in trading. I used to use all my leverage and gamble it away. It took me three blown accounts (of pretty decent sizes) to finally get it. And even to this day I get the urge to over-leverage... it never goes away. You just have to control it or you will continue to lose ungodly amounts of money. Period.

See chart.

hello Mr Trend
just one question: will you take the trade if the bar does`t close below BRN 1.3?
tnx

No worries Mr T. Your GBPCHF trade more then made up for it!

Hello,
I use the MT4 from FXDD because it does not have a Sunday bar. Daily bar starts at 2:00 PM Pacific Time. Just a suggestion.

I like your trading style and analysis...please continue sharing and teaching.
Thank You very much,
Rick