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Trend Trading All Pairs

  • #10,641
  • Nov 15, 2011 2:28am Nov 15, 2011 2:28am
Quoting Custos
Seriously guys, stop jumping from system to system. It won't help. Just employ a system which you KNOW has an edge (by testing it extensively) and then stick by it.
I totally agree with you. Jumping from system to system is the beginning of an end. However, if we just stick to the 3 SMA system there can be long streaks of time when there is no trade. That is very challenging and hard to manage mentally.

The intraday market flow system is not very different from the 3 SMA system. It is based on 1h TF where you wait for a momentum breach of a past S/R levels, pullback and the famous continuation. You switch to 15m TF to search for entry points. Intrade management is more or less the same as with the 3 SMA system. Per pair there is one trade a day most of the time. Sometimes 2.

For example, yesterday I had 8 possible trades on 8 different instruments (including gold and silver). You would not take all of them because you would pile up the risk unnecessarily - e.g. eurjpy and audjpy offered a trade at the same time. You would naturally take just one of them. However, all in all, yesterday 8 trades, 1 win, 5 losses, 2 BEs.

I have been testing the system only for second week now. Therefore, the results are to be taken with caution. The w/l ratio is 50:50 at the moment.

I wouldn't mind to experiment with new systems while you are waiting for a 3 SMA trade which can take a long time. This was my case. And as both systems are basically quite similar in their nature I am not concerned that this would be the dangerous jumping from one system to another.

If you guys are interested I can post some picture examples of intraday market flow trades. I would be glad to hear anybody's comments.
  • #10,642
  • Nov 15, 2011 2:35am Nov 15, 2011 2:35am
Quoting NightMoves
One of the big reasons intraday trading is difficult is because there is a bigger bigger picture out there. Intraday will work for any one if you know what the longer time frames are doing. The biggest problem with intraday traders is they set targets on to large a time frame, always trade your time frame, dont take a trade on the hourly chart when your trying to reach for a target on the daily chart.

--NM
Hi NM, glad to see you here and thanks for starting this thread.
I am wondering whether you are also trading the Intraday market flow system or you stick to 3SMA. Still working full time, or you became a full time trader?

All the best to you!
  • #10,643
  • Nov 15, 2011 2:49am Nov 15, 2011 2:49am
Quoting mtrader123
If you guys are interested I can post some picture examples of intraday market flow trades. I would be glad to hear anybody's comments.
yesterday 8 trades, 1 win, 5 losses, 2 BEs?!
shockingly bad.
please post some pics,thanks!
  • #10,644
  • Nov 15, 2011 3:10am Nov 15, 2011 3:10am
i think i just missed one good short opportunity on eurgbp 4hr timeframe
Attached Image (click to enlarge)
Click to Enlarge Name: eurgbp short.jpg Size: 108 KB


entry could be around 0.8550, any comment?
  • #10,645
  • Nov 15, 2011 3:36am Nov 15, 2011 3:36am
Quoting Sesshaumaru
yesterday 8 trades, 1 win, 5 losses, 2 BEs?!
shockingly bad.
please post some pics,thanks!
I know, yesterday was a bad day. But as I said you would not take all of them because of high correlation between JPY or USD pairs.

Take for example last Thursday, I had 5 wins, 1 BE and 1 loss alltogether. Let's see how it looks like at the end of November..

I would post some pictures, if there are any new trades.
  • #10,646
  • Nov 15, 2011 3:43am Nov 15, 2011 3:43am
Quoting Sesshaumaru
i think i just missed one good short opportunity on eurgbp 4hr timeframe
Attachment

entry could be around 0.8550, any comment?
IMHO, I cant see a nice BPC. Based on what and when would you enter the trade?
Daily TF is lets say donwtrending, but I would be careful around the .8530 level. Weekly TF is more or less ok as the price breached an upward trendline. However, I dont like the 4H setup somehow. I dont know, I cant see the BPC.

Instead I would take GBPAUD 4h but would exit before the UK CPI news announcement with small profit..
  • #10,647
  • Nov 15, 2011 10:01am Nov 15, 2011 10:01am
Quoting mtrader123
I know, yesterday was a bad day. But as I said you would not take all of them because of high correlation between JPY or USD pairs.

Take for example last Thursday, I had 5 wins, 1 BE and 1 loss alltogether. Let's see how it looks like at the end of November..

I would post some pictures, if there are any new trades.
would have's and could have's are not useful. If most of them are correlated then it is best to just look at the non-correlated ones and the trades you actually took. All these "possible" trades are nothing but diluting reality.
  • #10,648
  • Nov 15, 2011 10:05am Nov 15, 2011 10:05am
Quoting Sesshaumaru
i think i just missed one good short opportunity on eurgbp 4hr timeframe
Attachment

entry could be around 0.8550, any comment?
I think it's hard to pick a worse pair to trade. haha, newbs have a wonderful intuition for taking the worst of the worst. All I can see is major ranging activity going on on eur/gbp. Furthermore what do you expect where it will go? Great Britain as well as the EU are in really bad shape. None of them really improving. Can't see how that pair would trend anytime soon.
However, it is a pair with which you can drain your account very fast.
  • #10,649
  • Nov 15, 2011 11:56am Nov 15, 2011 11:56am
Quoting Custos
I think it's hard to pick a worse pair to trade. haha, newbs have a wonderful intuition for taking the worst of the worst. All I can see is major ranging activity going on on eur/gbp. Furthermore what do you expect where it will go? Great Britain as well as the EU are in really bad shape. None of them really improving. Can't see how that pair would trend anytime soon.
However, it is a pair with which you can drain your account very fast.
see, that's what i'm talking about. not many signals, because there isn't that many trends in the market especially on 4hr timeframe.
  • #10,650
  • Nov 15, 2011 12:12pm Nov 15, 2011 12:12pm
Quoting Sesshaumaru
see, that's what i'm talking about. not many signals, because there isn't that many trends in the market especially on 4hr timeframe.
you have to get out of this "I have to trade every day" mindset. Some of the best traders in the world just take a couple of trades a year.
  • #10,651
  • Nov 15, 2011 12:53pm Nov 15, 2011 12:53pm
Quoting Custos
you have to get out of this "I have to trade every day" mindset. Some of the best traders in the world just take a couple of trades a year.
Some of the best traders in the world are also in the market every day. This game is dependent on capital source and preservation. If you run a giant fund, then it makes sense to place long-term bets based on fundies and techs, while spending the rest of your time trying to bring in clients. If you are a trader, you will be striving to catch more moves. I do agree that daily targets are crap for 99.9% of the people in this forum, and weekly/monthly are better measurements. I disagree with the investor mentality that seems to come across in your posts, however. You can make it in this game without long-term fundies.
  • #10,652
  • Nov 15, 2011 12:57pm Nov 15, 2011 12:57pm
Quoting qwerty00
Some of the best traders in the world are also in the market every day. This game is dependent on capital source and preservation. If you run a giant fund, then it makes sense to place long-term bets based on fundies and techs, while spending the rest of your time trying to bring in clients. If you are a trader, you will be striving to catch more moves. I do agree that daily targets are crap for 99.9% of the people in this forum, and weekly/monthly are better measurements. [b]I disagree with the investor mentality that seems to come across in your...
so then enlighten us how to do it.

Not sure how taking a couple of trades a year is an investor mentality. I thought investors invest for years or decades to come ala Warren Buffett?
  • #10,653
  • Nov 16, 2011 1:22am Nov 16, 2011 1:22am
Hola Nightmoves and Custos
- trust you are well... Trading has been good, I massaged this thread and great advice into my own style with a large degree of success... Thank you for your inputs in my early days.

I still have a vivid picture of Custos taking +800pips on EUR/CHF 2-3years ago - I was stunned... (the post is here somewhere in this thread)...

To all "younger" traders (don't particularly like the newb term) - I have not been active in this thread for a number of years now, simply put my head down, working on patience to get the setups and moving forward. Take on board what these 2 guys have posted here in this thread, take ownership and get on with it.

Today's markets are not the same in volatility as we had pre-2008, you have to ask yourself some serious questions that has absolutely nothing to do with the technical strategy (this one works - no point to debate that):

1) why are you trading?
- for the kick / rush?
- are you considering it seriously as a business or playing about?

2) what's your money worth to you?
- are you trading your plan? or are you throwing money at candles?
- money = discipline, failure to apply discipline = evaporation of account;
- there aint no monkey behind your screen - the monkey's INSIDE you;

3) MONKEY? are you acting in your own best interest right now?
- Plan you trade (full trade planning available in thread);
- Walk away if no trade available;
- Manage your emotions, Money Management and Trade Execution;

There are plenty of trades available, plenty - be patient and you will get them...

Now, back to the business of trading...

Enjoy and trade safe...

P
  • #10,654
  • Nov 16, 2011 2:50am Nov 16, 2011 2:50am
Quoting Custos
you have to get out of this "I have to trade every day" mindset. Some of the best traders in the world just take a couple of trades a year.
of course i don't have the one trade per day mindset, from my experience sometimes the market is just so quiet or so volatile due to bank holidays or heavy news announcements which make me unable to trade. but with all the methods discussed here, 3sma & london open breakout & intraday market flow etc. i don't think asking 2 or 3 trades per week on average is that ridiculous. yes sometimes you have to sit through a whole week maybe even two weeks without one good setup, but on average i would expect 10-15 trades per month with acceptable r:r ratio and win/loss ratio.
btw, intra day market flow only provides 1 maybe 2 at most good setup per day, sometimes 0. be selective with setups, choose 1 maybe 2 at most, ditch all the others. i don't think 8 trades per day is what the system is about.
mtrader123 please share some experience on the intra day market flow systems. Thanks!
  • #10,655
  • Nov 16, 2011 3:57am Nov 16, 2011 3:57am
Quoting Sesshaumaru
of course i don't have the one trade per day mindset, from my experience sometimes the market is just so quiet or so volatile due to bank holidays or heavy news announcements which make me unable to trade. but with all the methods discussed here, 3sma & london open breakout & intraday market flow etc. i don't think asking 2 or 3 trades per week on average is that ridiculous. yes sometimes you have to sit through a whole week maybe even two weeks without one good setup, but on average i would expect 10-15 trades per month with acceptable r:r ratio...
Hello buddy,

when it comes to the 3sma, I spotted 14 trades in October. This month, it's been 3-5 trades so far, not quite sure at the moment.

I have been receiveing a newsletter from Hector for the last cca 3 weeks. According to this, even Hector himself did not spot any tradable 3sma setup. This can be very challenging psychologically. I understand that.

As for the Intraday market flow system, you also seem to have some experiences with it. What you say is exactly what Hector is saying in his videos - choose 1-2 excellent setups, forget about the others, you dont have to take 10 trades a day. Have you been trading it?

I would gladly share my experiences with this system. But like I said, there is not much I can tell you right now as I have been testing it only for 2 weeks. I can only repeat what I said in my previous post - in it's structure it's similar to 3SMA system, the intrade management is also similar, it's based on 1h TF so it's not a scalping system... However, I cant tell you now whether it's profitable or worth the try. Dont know yet. If anybody has got more experience with this system, I would like to read his/her opinion.

I appreciate any comments, guys.
  • #10,656
  • Nov 16, 2011 4:17am Nov 16, 2011 4:17am
Quote
If you guys are interested I can post some picture examples of intraday market flow trades. I would be glad to hear anybody's comments.

Hi ya Mtrader123..

I would be interested if you could please put up a couple of charts explaining how this system works in case it may be of use with my trading method.....any past chart trades would be ok as I want to see exactly, visually what we are looking for with this method..

Many thanks for any help you can give on this

Cheers,
Adrian
  • #10,657
  • Nov 16, 2011 4:17am Nov 16, 2011 4:17am
Quoting mtrader123
Hello buddy,

when it comes to the 3sma, I spotted 14 trades in October. This month, it's been 3-5 trades so far, not quite sure at the moment.

I have been receiveing a newsletter from Hector for the last cca 3 weeks. According to this, even Hector himself did not spot any tradable 3sma setup. This can be very challenging psychologically. I understand that.
hello, where did you get those newsletters? did you purchase the old course from hectortrader.com(not the new learnforexlive)?
i only trade 3sma on 4hr timeframe, so no i didn't spot any valid setup for like too long to remember. i think what hector said 1 maybe 2 setups of intra day market flow per day is very true, please stick to it and i'm looking forward to seeing your results. Thanks!
  • #10,658
  • Nov 16, 2011 5:47am Nov 16, 2011 5:47am
Quoting Paulette
Hola Nightmoves and Custos
- trust you are well... Trading has been good, I massaged this thread and great advice into my own style with a large degree of success... Thank you for your inputs in my early days.

I still have a vivid picture of Custos taking +800pips on EUR/CHF 2-3years ago - I was stunned... (the post is here somewhere in this thread)...

To all "younger" traders (don't particularly like the newb term) - I have not been active in this thread for a number of years now, simply put my...
Paulette, great input. Thank you a lot. I will have to read it over and over again till it settles in my head.

If you don't mind could you please post a recent valid, working 3sma setup of yours so that we can compare with you what we see in the charts? I know it's time consuming, but maybe just one setup with your comments would be great and helpful.

What else do you use from the Hector arsenal?

Thanks a lot.
mtrader123
  • #10,659
  • Nov 16, 2011 5:55am Nov 16, 2011 5:55am
Quoting Sesshaumaru
hello, where did you get those newsletters? did you purchase the old course from hectortrader.com(not the new learnforexlive)?
i only trade 3sma on 4hr timeframe, so no i didn't spot any valid setup for like too long to remember. i think what hector said 1 maybe 2 setups of intra day market flow per day is very true, please stick to it and i'm looking forward to seeing your results. Thanks!
I bought the course through learnforexlive.com and I suppose the newsletters are kind of bonus for the purchase. I cant remember I subscribed to them separately.

As for the Intraday market flow system, I would like to stick to it. However, there are days when there are plenty of setups and as a newbie I am still not sure which setups are the best. I will need some more time to experiment with it.

I understand you know what the system is about. Maybe you can test it as well alongside with me while waiting for 3sma setups and then we can compare our results from time to time. This could help. What is your opinion?

Guys, you can't imagine how I am glad this thread came to life again. If possible please keep posting your comments, setups, ideas. I will do the same...
  • #10,660
  • Nov 16, 2011 5:57am Nov 16, 2011 5:57am
Quoting aarangio
Hi ya Mtrader123..

I would be interested if you could please put up a couple of charts explaining how this system works in case it may be of use with my trading method.....any past chart trades would be ok as I want to see exactly, visually what we are looking for with this method..

Many thanks for any help you can give on this

Cheers,
Adrian
I will post something later today hopefully and explain the strategy a bit. It is quite simple in nature but as the 3sma strategy it needs quite a lot of practice and chart time...
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