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PTT Method (Profitable Trend Trading) in Forex

  • #101
  • Sep 2, 2011 6:56am Sep 2, 2011 6:56am
Quoting behman8850
I am long on aud/cad at 1.0469 TP 1.0531 IB today. Sl at 1.0434.
My SL hit! -30 pips. Thats ok, all in the game.
Better Luck next time!
  • #102
  • Sep 2, 2011 1:55pm Sep 2, 2011 1:55pm
I like Flyer's indi too. It's very helpful to see the wicks.

I did have a usdcad long trade trigger. It's up 45 pips. Didn't see anything else.

usdchf trade closed in profit last night. I ignored the rules and set a 200 pip TP and it hit during the night.
  • #103
  • Sep 2, 2011 2:06pm Sep 2, 2011 2:06pm
I wanted to throw something out to get some feedback. I know Kelvin's method is to trade with the trend.

But I'm wondering if it wouldn't be better to place pending trades on either side of the IB? This would capture pull backs and true reversals. I've attached a eurchf chart as an example.

If the trend is long and price initially breaks long then you're fine.

If the trend is long and price breaks long but reverses then you're out 30 pips but have a short trade

If the price is whipsawing the most you'd lose is 60pips (failed long & failed short)

Any thoughts on this? Am I missing something?

Thanks!
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  • #104
  • Sep 2, 2011 4:02pm Sep 2, 2011 4:02pm
I think trading IB's both ways could work but I think Roman would say why do it when you're rolling in the pips already with the trend...
  • #105
  • Sep 2, 2011 7:12pm Sep 2, 2011 7:12pm
Quoting stevewide
I think trading IB's both ways could work but I think Roman would say why do it when you're rolling in the pips already with the trend...

Yeah probably. I don't want to muddy the waters. I'll stick with the rules for now. The losses are minimized and the results when you catch a trend are amazing. Thanks.
  • #106
  • Sep 4, 2011 6:55am Sep 4, 2011 6:55am
Very interested method. Congratulations !
  • #107
  • Sep 4, 2011 8:56am Sep 4, 2011 8:56am
Very good thread KelvinM, did you say you begin the trade when the daily position finishes below/above the 50 ema then when inside bar occurs you trade. Can the the bar still be touching the 50 ema or does it have to be totally not touching. This is something i believe i traded like several years ago before my accident . keep up the good work.
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #108
  • Sep 4, 2011 10:34am Sep 4, 2011 10:34am
Hi Kelvin all Friends here. Pl. advise me what to trade today in Aud/nzd as it has an IB Pinbar on Daily today. Since it is below ema 50 should we short or since its a Pinbar should we long? Thanks.
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  • #109
  • Sep 4, 2011 10:37am Sep 4, 2011 10:37am
Another IB today on Gbp/Usd TP 81 Pips. Shall we short it? Pl. advise.
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  • #110
  • Sep 4, 2011 10:39am Sep 4, 2011 10:39am
Another IB on Gbp/Jpy today. Shall we short it for 52 pips? at 124.16 TP 123.70.
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  • #111
  • Sep 4, 2011 10:42am Sep 4, 2011 10:42am
Here is Eur/ Aud Shall we short this also for possible 71 pips at 1.3286 TP 1.3215?
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  • #112
  • Sep 4, 2011 10:48am Sep 4, 2011 10:48am
This one is Very interesting Trade. What to do? Long or short? Pl. opine.
Eur/Cad to short at 1.3898 TP at 1.3810 for possible 88 pips? OR Long at 1.3995 since it is Closed on 50 EMa!! Have you noticed that? Pl. opine.
Last 5 Daily bars are in Downtrend BUT--- Last one is a green one!!
What to do??
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  • #113
  • Sep 4, 2011 3:09pm Sep 4, 2011 3:09pm
Hi all,

I feel a bit left out since I choose to only trade just the 6 major pairs plus e/j and g/j. Missing some of the action, but I think that might be good too.. teach me some patience.

nubchai, i think there might be some extra pips to be had if we do trade the high and low of each IB (bracket every IB with stop orders).. I did a quick visual backtest of e/u and it looks like at least 20-30 pips are always there, sometimes 100+. While this appears good, a solid TP would be hard to calculate. Also, with the added potential losses of 30 pip here and there, it would need to be more like 50 TP in order to profit overall. Anyway, the real issue for me is that it would be countertrend trading and not PTT. Maybe try a method like that as an additional option to PTT and see if it's profitable in the long run.

I wanted to answer behman..

a/n - nice looking trend there, I would say short since price is below 50ema

g/u - price is ranging, no trend (Kelvin said look for strong trend and a price bounce off of 50ema) i would wait some.. let trend develop first. W are trying to follow trend, not trying to catch one before it even starts.

g/j - how did u get your target/TP? I thought there was no TP in this method? Did I miss something?

e/a - I am using mbt and can't zoom out your chart to tell, but it should look approx. the same as mine.. i think price is ranging so I would say wait for a strong trend. But if u see a trend already on your chart, then it's an easy answer.. price is below ema so short only.

e/cad - I see a giant whipsaw around ema, price is now right at ema, no strong trend.. wait.

ok, that's for now. good luck to all,

alto
  • #114
  • Sep 4, 2011 6:57pm Sep 4, 2011 6:57pm
Hopefully Kelvin will come back to answer some of those questions. I too am wondering about:

1- if your new order hits the SL and price then retraces beyond your initial entry, do you place a limit order or just wait for the next setup?
2- With ADRs of 52 - 314, is a 30 pip SL really good for all pairs?
3- Do you add the spread?
4- Do you consider the swaps of currencies when deciding which pairs to trade?
  • #115
  • Sep 5, 2011 5:18am Sep 5, 2011 5:18am
Hi guys,

I was just putting in some stop orders and I had a couple old ones I forgot about, and they were going the opposite way to my new orders. Anyway, if your broker is a U.S. broker like mine, then it would be impossible to have a buy stop and a sell stop at the high and low of an IB as the mt4 will just give a 'no hedging allowed' error. Some people were thinking of an add-on countertrend deal, by maybe placing stop order at high+low of each IB. I guess the only guys who care about this would be those of us lucky enough to live in the USA and have the good folks of CFTC/NFA watching over us..

  • #116
  • Sep 5, 2011 6:53am Sep 5, 2011 6:53am
Quoting alto
Hi all,

I feel a bit left out since I choose to only trade just the 6 major pairs plus e/j and g/j. Missing some of the action, but I think that might be good too.. teach me some patience.

nubchai, i think there might be some extra pips to be had if we do trade the high and low of each IB (bracket every IB with stop orders).. I did a quick visual backtest of e/u and it looks like at least 20-30 pips are always there, sometimes 100+. While this appears good, a solid TP would be hard to calculate. Also, with the added potential losses of 30...

Hello Alto, Thanks for your reply. I already had two positions closed on gbp/jpy shorted at 124.16 TP 123.70 . It went till 123.49!!
I have again shorted this two positions at 123.95 TP 123.70.
I had read somewhere about this IB method where it calculates ADR the difference between high and low to make those TP pips.
E. G. 124.68 high and 124.16 low so, 52 pips.to be calculated when you trade as your TP.
I hope this explains my strategy.
I ahve not taken any other positions as I have very limited a/c money. LOL
  • #117
  • Sep 5, 2011 9:35am Sep 5, 2011 9:35am
Quoting behman8850
This one is Very interesting Trade. What to do? Long or short? Pl. opine.
Eur/Cad to short at 1.3898 TP at 1.3810 for possible 88 pips? OR Long at 1.3995 since it is Closed on 50 EMa!! Have you noticed that? Pl. opine.
Last 5 Daily bars are in Downtrend BUT--- Last one is a green one!!
What to do??
IMO, you stay out of it and look for another pair with a more convincing trend/direction. Sure it could work out, but it's obviously in a range, since were looking for some sort of trend to ride just moveon.
  • #118
  • Edited 10:32am Sep 5, 2011 10:16am | Edited 10:32am
Quoting alto
Hi guys,

I was just putting in some stop orders and I had a couple old ones I forgot about, and they were going the opposite way to my new orders. Anyway, if your broker is a U.S. broker like mine, then it would be impossible to have a buy stop and a sell stop at the high and low of an IB as the mt4 will just give a 'no hedging allowed' error. Some people were thinking of an add-on countertrend deal, by maybe placing stop order at high+low of each IB. I guess the only guys who care about this would be those of us lucky enough to live in the USA...
Hi Alto.

I tested this by putting a Buy Stop and Sell Stop order in for the same pair at FXDD -US (live acct). It took the orders and I didn't get the hedging error. I think it's because pending orders aren't in the market yet?

Sandy
  • #119
  • Sep 5, 2011 10:28am Sep 5, 2011 10:28am
I had a ucad long that I had placed on 9-2. It stopped out this morning for 150 pips. This is where I'm not sure what the rule is. So after looking at the chart I re entered another long trade. As for my stops I wasn't following the bottom of the last candle rule. I'll have to go back and look at that. I think my eye balling and adjusting the stop resulted in too tight of a stop for a daily trade. It's hard to not lock in profits though

Last night I took the GJ short trade with a 30 pip SL. It got stopped out. I place a new short order and it moved into profit. I think 30 pips is much too small for GJ.
  • #120
  • Sep 5, 2011 10:54am Sep 5, 2011 10:54am
Quoting nubchai
I had a ucad long that I had placed on 9-2. It stopped out this morning for 150 pips. This is where I'm not sure what the rule is. So after looking at the chart I re entered another long trade. As for my stops I wasn't following the bottom of the last candle rule. I'll have to go back and look at that. I think my eye balling and adjusting the stop resulted in too tight of a stop for a daily trade. It's hard to not lock in profits though

Last night I took the GJ short trade with a 30 pip SL. It got stopped out. I place a...
My suggestion put SL at opposite level. In GBP/JPY case it was at 124.68 which was last friday's high when shorting at 124.16 which was low.
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