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PTT Method (Profitable Trend Trading) in Forex

  • #281
  • Sep 15, 2011 2:33pm Sep 15, 2011 2:33pm
evening all, it looks like we may have an ib on aud/usd in a few hours time.i believe a lot of people here are in the USA and i go off london trading times. i am just saying this as i have seen a few graphs/charts and they dont correspond with mine. happy trading happy days
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #282
  • Sep 15, 2011 3:18pm Sep 15, 2011 3:18pm
Quoting nubchai
Another thing I wonder about is if IBs taken earlier in the week have more momentum potential than IBs toward the end of the week. Just something else I haven't researched lol.

I tried to go back and run a manual visual test but it's almost impossible. You'd have to drill down to the M1 to see if you ever hit your initial 30 pip s/l.

The first two I did though were both on Thursday...one for +200 pips (multi day compounded) and one for -30 pip s/l.
  • #283
  • Sep 15, 2011 3:47pm Sep 15, 2011 3:47pm
Quoting KumoDragon
Personally, unless it looks really good I wouldn't take an IB trade after wednesday. (by real good I mean a strong obvious trend and the IB is right at the 50 line) Because friday is volatile, rampant stop loss hunting and end of week profit taking from the big boys.

Also, my broker is closed from 3 pm friday until sunday evening. And there can be a gap. So, if the trade didn't move much after it entered I very well could just get gapped out.

I've also noticed that often the IB's are more plentiful on sunday evening as the markets dont move...
I haven't traded this system on Sundays. But it does make sense that the big money moves in at the beginning of the week and closes out toward the end. Profit taking and all.
  • #284
  • Sep 15, 2011 3:51pm Sep 15, 2011 3:51pm
Quoting billytt
evening all, it looks like we may have an ib on aud/usd in a few hours time.i believe a lot of people here are in the USA and i go off london trading times. i am just saying this as i have seen a few graphs/charts and they dont correspond with mine. happy trading happy days
Hi Billy. Yes looks like an IB will form on AU. Also maybe AudCad.

Sandy
  • #285
  • Sep 15, 2011 3:53pm Sep 15, 2011 3:53pm
Quoting spyderman
I tried to go back and run a manual visual test but it's almost impossible. You'd have to drill down to the M1 to see if you ever hit your initial 30 pip s/l.

The first two I did though were both on Thursday...one for +200 pips (multi day compounded) and one for -30 pip s/l.
Yes it's hard to viually back test something like that. But you had a winner on Thursday...hmmm.
  • #286
  • Sep 15, 2011 4:07pm Sep 15, 2011 4:07pm
Good evening sandy, yes well spotted aud/cad i shall take a look at it. i made a serious blunder last night, it was a school boy error of great magnitude anyway i've stopped crying now. i actually put my 2 trades on using the blackberry and as i couldn't see too well i fouled up big time. i lost a heap but hey ho i crawled some back to day. i ought to start a new thread up about being stupid lol. Anyway i've good 3 trades coming up hopefully including your aud/cad i'll see what haappens. happy trading happy days
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #287
  • Sep 15, 2011 4:28pm Sep 15, 2011 4:28pm
Quoting nubchai
Yes it's hard to viually back test something like that. But you had a winner on Thursday...hmmm.
Had one close today that opened last Friday...yikes...made about 250 pips total.
  • #288
  • Sep 15, 2011 8:50pm Sep 15, 2011 8:50pm
Quoting spyderman
Had one close today that opened last Friday...yikes...made about 250 pips total.

Awesome. That's encouraging and blows my theory that maybe IBs in the beginning of the week are stronger than later in the week.
  • #289
  • Sep 15, 2011 8:55pm Sep 15, 2011 8:55pm
Quoting billytt
Good evening sandy, yes well spotted aud/cad i shall take a look at it. i made a serious blunder last night, it was a school boy error of great magnitude anyway i've stopped crying now. i actually put my 2 trades on using the blackberry and as i couldn't see too well i fouled up big time. i lost a heap but hey ho i crawled some back to day. i ought to start a new thread up about being stupid lol. Anyway i've good 3 trades coming up hopefully including your aud/cad i'll see what haappens. happy trading happy days
Aw sorry about the blunder. I've done the same thing. I usually submit my trades through scripts and there've been a few times I've had the wrong lot size set. One time it worked in my favor but another time it was very ugly Hang in there. You'll make it back.

Sandy
  • #290
  • Sep 15, 2011 11:47pm Sep 15, 2011 11:47pm
Hi guys,

Yeah, mistakes happen all the time.. there is about a 1% chance that I will enter all my stop orders correctly. I always forget to choose 'buy/sell stop' from the mt4 order window. I get that dong, u're stupid sound from the pc speakers and then have to go back and try again. This last time my 3 yr old son was sitting next to me and laughed when the sound came.. made me feel like a real smart, wise trader.

edit: about the whole taking trades late in the week thing.. The weekend might gap back in the wrong direction and hit your SL, but we only need about 1 in 10 trades to pay off by catching a strong trend move, so all the little losses would not matter in the big picture and we only need 20% or so winning trades. Last week was a good example when I was worried that I would lose due to market gap, but i got a gift and the market gapped in favor of all my open trades.
  • #291
  • Sep 16, 2011 6:13am Sep 16, 2011 6:13am
hi guys /gals have a good weekend, i'm glad to hear that its not only me blundering lol. at least we are honest and i think that helps to work in our favour, happy trading happy days
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #292
  • Sep 16, 2011 8:55am Sep 16, 2011 8:55am
Good morning. I took the AU trade last night on demo. It's currently up 43 pips. I'm going toleave itopen to see what the Sunday gap does.

Also Steve Hopwood put an ea together for this method. Here's the thread. EA is on the first page. It's semi-automated. So you find a pair with an IB. You zoom out to see the trend. If it looks good and there's been a bounce off the 50 you drag the EA onto the chart. It places the trade and manages it. I just found this last night so I'm not clear how much help the EA will really provide.

Have a great weeknd!
  • #293
  • Sep 16, 2011 9:29am Sep 16, 2011 9:29am
doesnt work and i doubt it'll ever get fixed to, so be careful with it sandy
  • #294
  • Sep 16, 2011 10:12am Sep 16, 2011 10:12am
Quoting tazmaan
doesnt work and i doubt it'll ever get fixed to, so be careful with it sandy
Thanks for the heads up Jim
  • #295
  • Sep 16, 2011 11:54am Sep 16, 2011 11:54am
Ooops I fotgot to add that I took the AU trade long when it's under the 50. So definitely not a Kelvin trade
  • #296
  • Sep 16, 2011 1:41pm Sep 16, 2011 1:41pm
the ea will do that for you, so maybe you CAN use it
even better if you want the stoploss to be set at random, instead of 30 pips like you set it
  • #297
  • Sep 16, 2011 1:50pm Sep 16, 2011 1:50pm
Quoting tazmaan
the ea will do that for you, so maybe you CAN use it
even better if you want the stoploss to be set at random, instead of 30 pips like you set it

Oh terrific! Lolol Well this method is better done manually and it's certainly not a big time commitment. So I'll keep doing it manually
  • #298
  • Sep 16, 2011 3:13pm Sep 16, 2011 3:13pm
Quoting nubchai
Oh terrific! Lolol Well this method is better done manually and it's certainly not a big time commitment. So I'll keep doing it manually
Guys,
There are IB on eur/usd, Gbp/usd (Pinbar) and Gbp/jpy. Also Aud/Cad Pinbar!
  • #299
  • Edited 9:35pm Sep 16, 2011 4:33pm | Edited 9:35pm
guys,

I want to read more about the caterpillar method, but cannot find the right thread. Is there a specific one that describes and talks about it? Thanks,

alto
  • #300
  • Sep 17, 2011 9:34pm Sep 17, 2011 9:34pm
Quoting alto
guys,

I want to read more about the caterpillar method, but cannot find the right thread. Is there a specific one that describes and talks about it? Thanks,

alto
Check out the caterpillar section in this guide for another trading system.
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