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Trend Trading All Pairs

  • #10,741
  • Edited May 21, 2012 2:37am May 20, 2012 6:24pm | Edited May 21, 2012 2:37am
Dont EVER let yourself become THIS guy!!!
Account management. This is why 2-5% risked per trade is the right size per trade.
I don't know anything about stock futures, but this guy either didn't set a stop, or he made a trade with like 50% plus of his account.
Well...whatever the reason is for this guys distress, remeber this, risk only 2-5% per trade. Why? well if you do trades at 2%, you can lose 10 trades straight, and still have 80% of your account left.
Click the link below to see what I'm talking about.
CAUTION EXPLICIT LANGUAGE !! But funny as hell !!

http://www.break.com/usercontent/200...PeYUj_gikw3Pmg#

They should make this video a requirement for anyone opening a retail trading accout. LMMFAO!!! AGAIN !!

Trade Life !!
  • #10,742
  • Edited May 21, 2012 2:34am May 20, 2012 6:50pm | Edited May 21, 2012 2:34am
Quoting vladutz112
and which currencies are "RISK ON" and "RISK OFF" .........what u mean by that??? i've never heard about this till now and i'm quite profitable at trading...can u please explayn this?
Hey vladutz
Aftr reading the post I sent you before I realize I might have been a little "loose" in th RORO description to you, so allow me to break it down in it's full complexity.
Here goes
RISK ON:

In a RISK ON scenario, investors will put their money into high yielding, riskier invstments, ie..stocks in emerging markets, FDI (Foreign Direct Investment, ie , factories, plants, etc), and higher yielding bonds( BRIC bonds for instance(BRIC=Brazil, Russia,India, China))etc...
For instance...an investor will buy shares in some company in India, because that market is hot. Or really truthfully, any investment vehicle other than bonds, (US or Japanese, anyways), which tend to give you the lowest return on investment, but are "safe", are cosiderered, "risky".
So really, because of the 2008 financial collapse in US, anything other than US or Japanse bonds, is considered a "risky" bet, or, RISK ON.
So when you realize that now you understand that whenever there is bad global market news the USD and JPY rise.
In fact,the best example of this woud be during the very collapse itself. Remember, it was the US banking sector, that was in crisis, yet what happened ? peope were so afraid the dollar SYROCKETED !!! Right ? In fact, when you go back and look at the US bond yields, people were so afraid that they actually PAID money to the government to buy the bonds. Less than 0% yield !! DO yous see? Same thing happened with Japannese bonds.
So the reason I corrected this post is this. In the first post I neglected to separate the difference between what happes in the global economy, as a whole, from, how it affects us, as forex traders.
So to conclude:
When people invest in high yield investments (anything other than US JPY bonds) That's RISK ON.(Sell JPY, USD) RISK ON currencies = CAD, AUD, and NZD (long, to go UP)
When they're scared (also look at VIX indicator, the "fear" index), that's RISK OFF (and you go long USD JPY).
CURRENT MARKET
Everyone is so scared now, that at the first hint of trouble, they RUN, to US and japanese bonds. How long this will last, who knows, but that is how the markets are right now. Everyone is scared.
Finally, don't worry about not hearing this term before. It came out in 2009, and unless you know people who work for big financial firms, it's something the average person is probably not familiar with.
But now YOU know....and knowing is half the battle. GI Joe. LOL

Trade Life !!
  • #10,743
  • Edited 5:52am May 21, 2012 4:05am | Edited 5:52am
Thought I'd share this video with everyone.
PUT PRICES ON YOUR FIB RETRACEMENT LEVELS. **ALSO WORKS FOR fib EXPANSIONS ( THE TAKE PROFIT POINTS)**

http://www.informedtrades.com/74738-...etatrader.html

Enjoy....and as always.... Trade Life !!
  • #10,744
  • May 21, 2012 4:33am May 21, 2012 4:33am
These are my setup charts for this week.. Basicaly I'm just gonna keep riding these pairs down.
Waiting for the retraces to go back up in the H4 before entering short again.
Some friends of mine are trading the retraces long, but that's a little too agressive for me,so I'll wait until the retrace is finished before jumping in short again, in the direction of the main trend.
I see an easy week..the H4 setups give you H1 triggers which are the smooooooothest trades to ride. Of course, only time will tell.
G8 meetigs were this weekend and Merkel (German Chancellor), was told to back off with the EUR austerity measures. What"ll that do to the markets? Again, only time will tell. But as long as the Greece problem is not resolved I see the markets as RISK OFF, all the way. COT charts confirm as well. Gonna check bond prices a little later when US session opens, to see where the moneys flowing, not to mention the CDS (Credit Default swaps), for European countries.
Today probably nothing much, just retraces to creat the wick in th weekly timeframe. Tomorrow though, I expect it'll be party time !!! See you then.

Trade Life !!
  • #10,745
  • May 21, 2012 4:36am May 21, 2012 4:36am
Charts Here. Sometimes I swear, if my had weren't attached to my body, I'd lose it. LOL!!
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  • #10,746
  • May 21, 2012 5:16am May 21, 2012 5:16am
Well i ran a scan of the market just now 6:04 am EST, and it's exactly what I suspected. Major retraces to the H4.
Red dots mean = downtrend for that pair in that timeframe.
Green dots mean = UPTRNEND for that pair in that timeframe.

Now, the key to these scan is that the longer timeframs OVERIDE SHORTER ONES. In other words, if you see a green dot on the M5, but a red dot on the H1, what do you think is happening ? Well that pair is trending down, but at the moment is retracing to H1 level before continuing down,or breaking the trend all together. so we always trade the longer timeframes, until and unless a CLEAR break in the trend has occured.
Also, because the Big boys muscle around on the opening day of the week (giving us the "wick" in the weekly timeframe), the scans can be a little misleading, that's why I'm waiting for retraces to H4 and jumping in tomorrow.
BY THE WAY, LOOK AT THE CHARTS FOR YOURSELF, RIGHT NOW, AND SEE IF THE SCANS AREN'T CORRECT.

Anyways...Trade Life !!
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  • #10,747
  • May 22, 2012 1:15pm May 22, 2012 1:15pm
Hello, I just found this thread a few days ago, I also purchased the Hector course a few month's ago, good to see there are so many traders making a lot of pips with the 3 sma system.
Did not read the whole thread yet, but I hope it is still active and hope to see some new charts, it's great to learn from the experience in this thread.

Menko
  • #10,748
  • May 22, 2012 9:21pm May 22, 2012 9:21pm
Quoting mkb1272
Hello, I just found this thread a few days ago, I also purchased the Hector course a few month's ago, good to see there are so many traders making a lot of pips with the 3 sma system.
Did not read the whole thread yet, but I hope it is still active and hope to see some new charts, it's great to learn from the experience in this thread.

Menko
Buying the Hector course was the best thing you could have done for yourself, as it relates to your tradig career. CONGRATUATIONS!!

Here's a few charts of mine. I waited for the retrace to the SMAs, to the fibs. retracement trendline broken so boom, we're in. Here's where they are so far.
Watch the Hector videos over and over. Seriously !! Focus on the SWING TRADING parts!! (Swing tradig is what the big institutions do) Don't believe me, well look at the charts beow. Notice how prices on the USD pairs hit either a 0 FIB level, or the Comm dolls (AUD, NZD) hit the 61.8 FIB Expansion level, then price seem to stop. That's because all the big institutions are taking out some profits at those levels. Later tonight we should see price continue down, until the next take profit level, where once again, we'll see a bounce.
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  • #10,749
  • May 22, 2012 10:02pm May 22, 2012 10:02pm
Overnight Call Rate just came out. WOW!!! BIG MOVES.
I hope you're long the JPY this week. USD blasted off yesterday.
RISK IS OFF, OFF, OFF!!!! LONG USD AND JPY !!!

Happy pipping

Trade Life !!
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  • #10,750
  • May 22, 2012 11:01pm May 22, 2012 11:01pm
Quoting shomari
Buying the Hector course was the best thing you could have done for yourself, as it relates to your tradig career. CONGRATUATIONS!!

Here's a few charts of mine. I waited for the retrace to the SMAs, to the fibs. retracement trendline broken so boom, we're in. Here's where they are so far.
Watch the Hector videos over and over. Seriously !! Focus on the SWING TRADING parts!! (Swing tradig is what the big institutions do) Don't believe me, well look at the charts beow. Notice how prices on the USD pairs hit either a 0 FIB level, or the...
Thank you, I am in a 9 demo trades right now, they are all in profit, just using the retrace to the SMAs, waiting for the BPC pattern on the trendline of that retrace, and enter at the trigger chart. I still have to get the idea were to taker profits, but I understand the 0 an 61.8 FIB levels are good places to take partial profits.
Is it also a good idea to let a part of the trade 'run' to the next swing?, place the SL to BE and let it go? When I look at the charts sometimes it will give a huge win.
  • #10,751
  • Edited 7:23am May 23, 2012 2:00am | Edited 7:23am
Quoting mkb1272
Thank you, I am in a 9 demo trades right now, they are all in profit, just using the retrace to the SMAs, waiting for the BPC pattern on the trendline of that retrace, and enter at the trigger chart. I still have to get the idea were to taker profits, but I understand the 0 an 61.8 FIB levels are good places to take partial profits.
Is it also a good idea to let a part of the trade 'run' to the next swing?, place the SL to BE and let it go? When I look at the charts sometimes it will give a huge win.
Nice!!! I don't know what pairs your in, but it sounds like you got it right. BPC then jump in. Congrats !! You are now SWING TRADING, like th big boys.
Hectors course is great, the BEST, I'd recommend it to my grand mother for crying out loud. But there is ONE little mistake in his course. Big institutions use FIBONNACI EXPANSIONS, for their profit targets. Not the measuring thing that Hector talks about.
So,draw fibonnaci expansions on your SETUP CHARTS. Those are your price targets. You'll notice price "pause" and go "sideways", at these levels for a while once price reaches them. DON'T WORRY !! Price will continue on, but the big boys are just pocketting a little profit ,before driving price further. (You should too)
LOL. I know exacty what you mean about letting a few lots ride to the next swing. I see that all the time as well.
It's up to you man. If you wanna let some lots ride til another swing, why not, but personally I like to cash out every swing , then start the new swing fresh, so to speak. The reason being is that, you don't know if the trend will continue. Maybe that was the last swing, maybe price starts ranging, so, personally, I always close all my lots on each swing and start again on the next swing. But you're correct, sometimes it looks lik if you just leave some lots out there, they'll win.

Happy pipping

Trade Life !!
  • #10,752
  • May 23, 2012 2:42am May 23, 2012 2:42am
Quoting shomari
Nice!!! I don't know what pairs your in, but it sounds like you got it right. BPC then jump in. Congrats !! You are now SWING TRADING, like th big boys.
Hectors course is great, the BEST, I'd recommend it to my grand mother for crying out loud. But there is ONE little mistake in his course. Big institutions use FIBONNACI EXPANSIONS, for their profit targets. Not the measuring thing that Hector talks about.
So,draw fibonnaci expansions on your SETUP CHARTS. Those are your price targets. You'll notice price "pause" and go "sideways", at these...
Great!, I will look into fibonnaci expansion as tp target, this is the system I will use, for sure!!, took the whole Hector course, and 'The Part Time Trader' part is the one I studied a lot, never gave the 'free'3SMA system a good chance, till now!
  • #10,753
  • May 23, 2012 3:01am May 23, 2012 3:01am
Quoting mkb1272
Great!, I will look into fibonnaci expansion as tp target, this is the system I will use, for sure!!, took the whole Hector course, and 'The Part Time Trader' part is the one I studied a lot, never gave the 'free'3SMA system a good chance, till now!
Yeah, a buddy of mine who works the foreign exchange trading desk for a big firm showed me that (FIB Expansion = Take Profit levels). It made taking profits ALOT easier,and "mechanical", if you know what I mean.
Hope you're in on those JPY and USD long trades....

You're in....now....Trade Life !!
  • #10,754
  • May 23, 2012 3:08am May 23, 2012 3:08am
Quoting shomari
Yeah, a buddy of mine who works the foreign exchange trading desk for a big firm showed me that (FIB Expansion = Take Profit levels). It made taking profits ALOT easier,and "mechanical", if you know what I mean.
Hope you're in on those JPY and USD long trades....

You're in....now....Trade Life !!

I am not trading on my live account at the moment, first want to see if my approach is right. Is it possible to post a chart with your tp targets?, so I have a picture of it (sorry for the poor english), I'm not that experienced with Fib's.
  • #10,755
  • May 23, 2012 4:19am May 23, 2012 4:19am
Quoting shomari
Overnight Call Rate just came out. WOW!!! BIG MOVES.
I hope you're long the JPY this week. USD blasted off yesterday.
RISK IS OFF, OFF, OFF!!!! LONG USD AND JPY !!!

Happy pipping

Trade Life !!
Do you trade currency crosses too, for example AUD JPY, GBP JPY?
"The meek shall inherit the earth.." Yeah right, good luck with that shit..
  • #10,756
  • May 23, 2012 5:35am May 23, 2012 5:35am
Quoting shomari
Yeah, a buddy of mine who works the foreign exchange trading desk for a big firm showed me that (FIB Expansion = Take Profit levels). It made taking profits ALOT easier,and "mechanical", if you know what I mean.
Hope you're in on those JPY and USD long trades....

You're in....now....Trade Life !!
Ok, asked you too soon, I found the video and the expansion levels in Metatrader, do you take the FE61.8 or the FE100 as a TP?, some of my demotrades already would have reached those levels, great!
  • #10,757
  • May 23, 2012 6:38am May 23, 2012 6:38am
Quoting mkb1272
I am not trading on my live account at the moment, first want to see if my approach is right. Is it possible to post a chart with your tp targets?, so I have a picture of it (sorry for the poor english), I'm not that experienced with Fib's.
Sure thing bro.

These are the "Trigger" charts of my USD trades. The take profit areas are the FIB expansion lines (the ones in red.).
Notice how when price reaches those levels, price "pauses", goes "sideways", if you will. That's because ALL of the big institutional investors are taking some cash off the table, around these levels, then price will (should continue,barring somemarket changing news.), continue down.

Trade Life !!
  • #10,758
  • May 23, 2012 6:41am May 23, 2012 6:41am
Here's the Trigger charts I was talking about earlier. You can see the (tp) take profit Fib Expansion levels from here. Follow along during the week. Also check out some of my past charts.
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  • #10,759
  • May 23, 2012 6:46am May 23, 2012 6:46am
Quoting Spreadbetter
Do you trade currency crosses too, for example AUD JPY, GBP JPY?
Absolutely !!!
Checkout my charts from before !!!! AUD/JPY is one of my alltime favorites!!!
Comm dolls (AUD, NZD and CAD), vs. JPY....No brainer !!

Trade Life
  • #10,760
  • May 23, 2012 6:57am May 23, 2012 6:57am
Quoting mkb1272
Ok, asked you too soon, I found the video and the expansion levels in Metatrader, do you take the FE61.8 or the FE100 as a TP?, some of my demotrades already would have reached those levels, great!
Good work , man, you are well on your way...
The answer to your question is.... BOTH !!
Scnario. 6 lots short AUD/JPY. tp1 @ fib retrace 0.0
tp2 @ fib exp 61.8
tp3 @ fib exp 100.0
(rarely happens) tp4 @ fib exp 161.8

A little cash out each level, and move your stops down every time you cash out It's as easy as that.

Trade Life !!
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