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Nb 10.0 trend trading system

  • #621
  • Nov 15, 2011 4:28pm Nov 15, 2011 4:28pm
Quoting ashkan_no9
Hi Bob

I have 3 groups of pairs.

for CTR trading:
AUDCAD - AUDCHF - AUDJPY - AUDNZD - CADJPY - CHFJPY - EURGBP - NZDCHF - NZDJPY - USDCAD - USDJPY

For TREND trading:
EURAUD - EURCAD - EURCHF - EURJPY - EURNZD - EURUSD - GBPAUD - GBPCHF - GBPJPY - USDCHF

For CTR & TREND trading:
AUDUSD - GBPCAD - GBPUSD

What do you think about these groups?
Which pairs do you use for TREND trading?
For CTR trading you are too heavy into AUD pairs. I would drop the aud/chf. You need to try to diversify more. I wouldnt bother trading eur/chf. It is just too unpredictable to trade and it either goes nowhere or explodes to someplace. I have quit trading that one several months ago. Same thing with gbp/chf. The Swiss national Bank has made trading CHF pairs very unpredictable.
  • #622
  • Nov 15, 2011 8:22pm Nov 15, 2011 8:22pm
Great system,
My pending sell order was picked up last week when set 10 pips below daily support. Then it exploded over 200 pips up. Glad i have the patience its now in the green. Sl to be and let it ride.

thanks again for all of your efforts,
  • #623
  • Nov 16, 2011 5:15pm Nov 16, 2011 5:15pm
As you may have already seen in the recently issued press release, IBFX Holdings, LLC has been acquired by TradeStation Group, Inc., a recognized leader in online trading and winner of Barron's 2011 "Best Online Broker" award. TradeStation is part of Monex Group, a leading Japanese online brokerage firm. The strength and stability that they can provide and TradeStation's technological leadership will benefit all IBFX customers.

Another American company sending its profits overseas. Now what??
  • #624
  • Edited 7:29pm Nov 16, 2011 5:47pm | Edited 7:29pm
Quoting nanningbob
As you may have already seen in the recently issued press release, IBFX Holdings, LLC has been acquired by TradeStation Group, Inc., a recognized leader in online trading and winner of Barron's 2011 "Best Online Broker" award. TradeStation is part of Monex Group, a leading Japanese online brokerage firm. The strength and stability that they can provide and TradeStation's technological leadership will benefit all IBFX customers.

Another American company sending its profits overseas. Now what??

I Know! I got this email today and well cussed a few times. Hopefully they don't really mess with the company too much. I have always been a big fan of IBFX and don't know what other broker I would use.

I am trying FX Solutions right now too see how I like them and since I use Alpari for demos I might give them a try as well.
  • #625
  • Nov 17, 2011 3:13am Nov 17, 2011 3:13am
My 2nd sell limit was triggered, and now waiting for it to break down support(red dots).
Attached Image (click to enlarge)
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  • #626
  • Nov 17, 2011 3:20am Nov 17, 2011 3:20am
Short this pair earlier, now showing -pips. According to charts set ups, it loks strong DT, including the RWB indis.
Attached Image (click to enlarge)
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  • #627
  • Nov 17, 2011 4:45am Nov 17, 2011 4:45am
Quoting Kelisa
Short this pair earlier, now showing -pips. According to charts set ups, it loks strong DT, including the RWB indis.
Why did you put your sell before the lines. They should go after the lines with the break of resistance. Your trade should look more like below. You could get a retracement of hundreds of pips from it bouncing of off support.
Attached Image (click to enlarge)
Click to Enlarge Name: gbp jpy.gif Size: 32 KB
  • #628
  • Nov 17, 2011 5:57am Nov 17, 2011 5:57am
Hello Bob, I find something ... interesting? Please take a look at this:

http://nf4.upanh.com/b4.s18.d1/b701c...83314.zoom.png
2 charts are H1 - Gold. The left one is zoomed in so it shows a good point to buy. But when we zoom out, the candles look smaller and we find this is not good to buy. Should we choose the safer chart?
  • #629
  • Nov 17, 2011 6:12am Nov 17, 2011 6:12am
Hi Bob.

Do you enter trades between support and resistance lines aswell? Or at the break?

Quoting nanningbob
Why did you put your sell before the lines. They should go after the lines with the break of resistance. Your trade should look more like below. You could get a retracement of hundreds of pips from it bouncing of off support.
--We are products of our own decisions--
  • #630
  • Nov 17, 2011 7:51am Nov 17, 2011 7:51am
Quoting rockballad
Hello Bob, I find something ... interesting? Please take a look at this:

http://nf4.upanh.com/b4.s18.d1/b701c...83314.zoom.png
2 charts are H1 - Gold. The left one is zoomed in so it shows a good point to buy. But when we zoom out, the candles look smaller and we find this is not good to buy. Should we choose the safer chart?
I almost never use the 1H chart except to see if I want to take profit. Almost all my decisions are 4H or higher. Years ago I used to trade the 1H and I just got whiplashed too often. I will on rare occasions use it but we are talking less than 10 times a year. I know some guys who tried the RWB on the 1H but it was only really good in ranging markets.

I do use the 1H for range trading but only on non volatile pairs. (see my range trading thread) Gold is extremely volatile so I dont think I would trade it from the 1H. However, I am not a 1H chart trader or gold trader either.
  • #631
  • Nov 17, 2011 8:13am Nov 17, 2011 8:13am
The reason I took this trade was due to impatience. CLosing this trade now with -45pips. Will put sell limit below S lines.
Attached Image (click to enlarge)
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  • #632
  • Nov 17, 2011 8:14am Nov 17, 2011 8:14am
Quoting Jpklouw
Hi Bob.

Do you enter trades between support and resistance lines aswell? Or at the break?

I almost exclusively trade off the break of a daily. I have tried a couple where I saw a big profit (over 100) pips but I was still a ways from the next S/R line. I took my profit and then looked at the 4H chart for a line I could reenter if price kept moving. It worked a couple of times and other times it didnt. Either way tough I got my profit secured.
  • #633
  • Nov 17, 2011 8:14am Nov 17, 2011 8:14am
Yes, thanks.
BTW, I'd like to ask about Sixth indicator. You would not enter the market in the middle band. Only sell in high area and buy in low. Is it simply a screen splitting or a dynamic Res and Sup?
  • #634
  • Nov 17, 2011 8:20am Nov 17, 2011 8:20am
Quoting rockballad
Yes, thanks.
BTW, I'd like to ask about Sixth indicator. You would not enter the market in the middle band. Only sell in high area and buy in low. Is it simply a screen splitting or a dynamic Res and Sup?
The sixth is based on the screen being an indicator. In other words MT4 has a formula for screen size for every pair. Some screen sizes can be thousands of pips from top to bottom, others several hundred. To me this was an indication of volatility so we divided the screen into 6 parts. In other words what ever formula MT4 was using for screen size became our indicator. The indicator was then based on the specific volatility of that pair for the time period you put the 6ths indicator on the screen. In my opinion price action seemed to hit the lines more often and more frequently than Fib lines and was a much better indicator than Fib lines. Its main usage was for counter trading but I have never really tried to use it for trend trading.
  • #635
  • Nov 17, 2011 8:25am Nov 17, 2011 8:25am
GU - Have been patience on this pair, waiting for better set ups.
Attached Image (click to enlarge)
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  • #636
  • Nov 17, 2011 8:28am Nov 17, 2011 8:28am
Quoting Kelisa
The reason I took this trade was due to impatience. CLosing this trade now with -45pips. Will put sell limit below S lines.
Market really sucks the last couple of days. I feel like I am on a beach with clear blue skies over head but the weather man tells me a hurricane is out on the ocean someplace. I have made the mistake of thinking price would break loose yesterday or today and so I didnt collect on several profitable trades, you know "let your winners run". Well they didnt and i lost em. I probably have failed to collect close to 4 or 500 pips because I thought these 30-70 pip runs would go longer. Not in a good mood right now.
  • #637
  • Nov 17, 2011 8:30am Nov 17, 2011 8:30am
Very interesting, dear Bob!
I must go out now. See you later!
  • #638
  • Nov 17, 2011 8:35am Nov 17, 2011 8:35am
Quoting Kelisa
GU - Have been patience on this pair, waiting for better set ups.
The double daily line I have found to be good trades. 4H dont play with that much. I have done maybe 4 or 5 so really cant say.

Notes from the daily show gbp/usd is in a definitely DT so I would rather play price to go above the 4H line and then put a sell stop below it and look to reenter after a retracement.
Attached Image (click to enlarge)
Click to Enlarge Name: gbp usd.gif Size: 40 KB
  • #639
  • Nov 17, 2011 8:55am Nov 17, 2011 8:55am
Quoting nanningbob
The double daily line I have found to be good trades. 4H dont play with that much. I have done maybe 4 or 5 so really cant say.

Notes from the daily show gbp/usd is in a definitely DT so I would rather play price to go above the 4H line and then put a sell stop below it and look to reenter after a retracement.
YUpz.....you've got very consistent trading strategies and u stick to it well. This retracement might possibly be above D1R2, so I will wait to see PA for next few days.

Take it ez... bad mood is bad recipe for trading. But hell, we are human, and human does have emotions, especially when comes to trading for profits. Remember, its beter you missed the rallies by taking smaller profits than holding a huge negative. We have all been through that phase.
  • #640
  • Nov 17, 2011 9:02am Nov 17, 2011 9:02am
Quoting nanningbob
"let your winners run". .
I know how u feel. There will be 2 options when you are holding +ve open positions: either u set SL to BE or set SL with trailing stops. At least if PA goes against u, u dont have to lose this trade.

3rd option: Like what u said, be like an impatient trader, TP asap before and SR zones, and wait for another setup again.
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