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PTT Method (Profitable Trend Trading) in Forex

  • #461
  • Nov 17, 2011 4:36pm Nov 17, 2011 4:36pm
My Aud/Cad Trade closed out for 50pips.
I'm pleased with that. I was trying a new exit method using Steve Hopwoods Multi trade manager with a 40 pip jumping stop. It got me into a 10pip profit when the trade moved to 50 pips, then to the 50pip profit when it hit 90 pips. Sadly retraced then and hit my stop. Kelvins method of trailing with the low of the previous bar would still have me in this trade, so I'll watch to see what happens

Over & out (if anyones still following this system)

Simmo
  • #462
  • Nov 17, 2011 5:52pm Nov 17, 2011 5:52pm
Quoting simmo24
My Aud/Cad Trade closed out for 50pips.
I'm pleased with that. I was trying a new exit method using Steve Hopwoods Multi trade manager with a 40 pip jumping stop. It got me into a 10pip profit when the trade moved to 50 pips, then to the 50pip profit when it hit 90 pips. Sadly retraced then and hit my stop. Kelvins method of trailing with the low of the previous bar would still have me in this trade, so I'll watch to see what happens

Over & out (if anyones still following this system)

Simmo
Well done on this trade...I do think the stop was too tight as well for this pair
If you think you can or cannot do it you are correct
  • #463
  • Nov 17, 2011 6:05pm Nov 17, 2011 6:05pm
EurGbp
GbpCad

Is tis the same on everyones charts?

Olu
If you think you can or cannot do it you are correct
  • #464
  • Nov 18, 2011 1:33am Nov 18, 2011 1:33am
Quoting Olu
EurGbp
GbpCad

Is tis the same on everyones charts?

Olu
Yes, same on mine. I saw the E/U, but not the G/C as I wasn't watching that pair.
  • #465
  • Nov 18, 2011 10:25am Nov 18, 2011 10:25am
Was up to 50 pips, has now dropped back a bit. I'm at BE. Trade took two days to trigger.
Attached Image
  • #466
  • Nov 18, 2011 11:32pm Nov 18, 2011 11:32pm
Hi all,

sorry for not posting much lately.. been busy. Anyway, I've been keeping up with PTT and it has been catching more trades recently, but the trends are not as great as they were before and so the winners are not as big as before. Hopefully, the pending trades will pay off big and PTT can end the month with lots of positive pips..

I have noticed more nice price patterns forming on the charts and like to put stop orders in front of price as I believe price will move. Here are a couple nice head&shoulders so I put stop orders just under..

alto
Attached Image(s) (click to enlarge)
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  • #467
  • Nov 21, 2011 6:09pm Nov 21, 2011 6:09pm
Can see the usdjpy and the usdchf - both intervention currencies. So I am not taking any of this. Comments?

Olu
If you think you can or cannot do it you are correct
  • #468
  • Nov 21, 2011 10:17pm Nov 21, 2011 10:17pm
yeah,

my uj trade got stopped out. I have my stop order far below ema50 for uchf, even though price is moving above ema now.
Attached Image (click to enlarge)
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  • #469
  • Nov 22, 2011 1:37am Nov 22, 2011 1:37am
Quoting Olu
Can see the usdjpy and the usdchf - both intervention currencies. So I am not taking any of this. Comments?

Olu

Hmmmm, There has been a bounce of the 50ema on U/Chf so I've placed a buy stop on the IB. There does seem to be some room on the upside, maybe 60-70 pips. I like to close out part of my trade for 30 pips (amount of risk) and let the rest run.
  • #470
  • Nov 22, 2011 3:55pm Nov 22, 2011 3:55pm
usdcad
audusd
cadjpy
gbpjpy

Olu
If you think you can or cannot do it you are correct
  • #471
  • Nov 22, 2011 3:59pm Nov 22, 2011 3:59pm
Quoting Olu
usdcad
audusd
cadjpy
gbpjpy

Olu
got pending orders on all those, plus aud/jpy.
  • #472
  • Nov 22, 2011 4:41pm Nov 22, 2011 4:41pm
Quoting simmo24
got pending orders on all those, plus aud/jpy.
Even though the system does not use any other indicators other than MA are you bothered that most of these pair are at extremely overbought or oversold.

Olu
If you think you can or cannot do it you are correct
  • #473
  • Nov 23, 2011 2:15am Nov 23, 2011 2:15am
Quoting Olu
Even though the system does not use any other indicators other than MA are you bothered that most of these pair are at extremely overbought or oversold.

Olu
I draw my support and resistance, see how much room there is and set the trades. Thats really why I like this system it's a simple idea. Ok, I'll lose 30 pips now and again, but the winners more than make up for those. Also I like to part close for the amount risked then it's a free ride. ( See DIBS thread).
I used to try to analyze things like overbought & oversold and just got more confused. How many times do Stochs or whatever you use to indicate overbought or oversold tell you not to buy or sell and the price just keeps on heading in that direction anyway. This system suits the way I like to trade, with the trend, if it turns, then trade with the new trend. I'm still trying to become a profitable trader and this system combined with trading longer timeframes has at least helped me to start moving in that direction.
Hope that made sense.
  • #474
  • Nov 23, 2011 4:19am Nov 23, 2011 4:19am
Going well so far
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  • #475
  • Nov 23, 2011 7:35am Nov 23, 2011 7:35am
Quoting simmo24
I draw my support and resistance, see how much room there is and set the trades. Thats really why I like this system it's a simple idea. Ok, I'll lose 30 pips now and again, but the winners more than make up for those. Also I like to part close for the amount risked then it's a free ride. ( See DIBS thread).
I used to try to analyze things like overbought & oversold and just got more confused. How many times do Stochs or whatever you use to indicate overbought or oversold tell you not to buy or sell and the price just keeps on heading in that direction...
thanks and well done on the trades
If you think you can or cannot do it you are correct
  • #476
  • Nov 28, 2011 5:38pm Nov 28, 2011 5:38pm
Is this pair showing an inside bar on your charts?

Olu
If you think you can or cannot do it you are correct
  • #477
  • Nov 28, 2011 9:13pm Nov 28, 2011 9:13pm
Hi Olu,

Here's my chart on MBT..
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  • #478
  • Nov 29, 2011 1:52am Nov 29, 2011 1:52am
Hasn't moved in the right direction yet.
Attached Image
  • #479
  • Nov 29, 2011 5:41am Nov 29, 2011 5:41am
Quoting simmo24
Hasn't moved in the right direction yet.
Now its going the right way
If you think you can or cannot do it you are correct
  • #480
  • Nov 29, 2011 6:31am Nov 29, 2011 6:31am
Quoting Olu
Now its going the right way
Yep, up 20 pips

Seems to be some support @ 0.8516.
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