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Trend Trading All Pairs

  • #10,801
  • May 30, 2012 10:33am May 30, 2012 10:33am
Quoting shomari
You're exactly right!!! And, as I said, I give myself BIG stoploss space for price to "do it's thing". That's why I need at least 100 pips profit to give me a R:R of at least 3:1. Minimum !!
And, as I stated before, I put stops behind the next round number. No matter what. If I traded some crappy pair like EUR/GBP which gives out an average of less than 60 pips a day, it wouldn't be worth it to me. I look for pairs that average 80+ pips a day, with a swing profit of AT LEAST 100 pips. 3 to 1 Risk Reward Ratio.
*** Plus who wants to...
Well, that's why you have to see it as a ratio. Since eur/gbp is less volatile, you can tighten your stop, thus risking more lots than you normally would, cause the percentage of account at risk would stay the same. So, even though you might not get a 100 pips with eur/gbp, you could still make 3% for 1 % at risk.

You understand what I mean?
  • #10,802
  • Edited 10:54am May 30, 2012 10:41am | Edited 10:54am
Quoting Custos
Well, that's why you have to see it as a ratio. Since eur/gbp is less volatile, you can tighten your stop, thus risking more lots than you normally would, cause the percentage of account at risk would stay the same. So, even though you might not get a 100 pips with eur/gbp, you could still make 3% for 1 % at risk.

You understand what I mean?
Of course I could do that, but it's a waste of time !! Why wait for a pair to pay me 100 pips in 3 days, when I can trade one that gives me that in 1 day ? That makes no sense.
Not to mention, in your theory you said " risk more lots than you normally would." In other words, you're saying, tie up more of my money than usual, waiting for a smaller payoff, which will take longer to arrive. That's the WORST thing you could do. What a waste of time.
Trade 2% of account, EVERY TRADE, and go for winners. Don't WASTE your trades on slow, crappy, pairs. IMHO...
Take a look at my charts. Now look at EUR/GBP, yesterday it moved only 26 pips. !!!....LMFAO !!!!

Trade Life !!
  • #10,803
  • May 30, 2012 10:43am May 30, 2012 10:43am
[quote=shomari;5713462]You're exactly right!!! And, as I said, I give myself BIG stoploss space for price to "do it's thing". That's why I need at least 100 pips profit to give me a R:R of at least 3:1. Minimum !!
And, as I stated before, I put stops behind the next round number. No matter what. If I traded some crappy pair like EUR/GBP which gives out an average of less than 60 pips a day, it wouldn't be worth it to me. I look for pairs that average 80+ pips a day, with a swing profit of AT LEAST 100 pips. 3 to 1 Risk Reward Ratio.
*** Plus who wants to wait 3 days for a measly 100 pips from EUR/GBP whe I can make that much in ONE NIGHT from a pair like EUR/NZD , or several others. That just ties up your money unnecessarily.

Trade Life !![/quo
hey,:d can u give a list of pairs that u trade i hate too those pairs like eur/gbp
  • #10,804
  • May 30, 2012 10:49am May 30, 2012 10:49am
Quoting Custos
Well, that's why you have to see it as a ratio. Since eur/gbp is less volatile, you can tighten your stop, thus risking more lots than you normally would, cause the percentage of account at risk would stay the same. So, even though you might not get a 100 pips with eur/gbp, you could still make 3% for 1 % at risk.

You understand what I mean?
"Riskig more lots than you normally would." DOES NOT keep the % of account at risk the same. How can it ? You're "risking MORE LOTS than you normally would." More lots = more risk.
No?

Trade Life !!
  • #10,805
  • May 30, 2012 10:50am May 30, 2012 10:50am
Quoting shomari
Of course I could do that, but it's a waste of time !! Why wait for a pair to pay me 100 pips in 3 days, when I can trade one that gives me that in 1 day ? That makes no sense.
Not to mention, in your theory you said " risk more lots than you normally would." In other words, you're saying, tie up more of my money than usual, waiting for a smaller payoff, which will take longer to arrive. That's the WORST thing you could do. What a waste of time.
Trade 2% of account, EVERY TRADE, and go for winners. Don't WASTE your trades on slow, crappy, pairs....
I think you don't quite understand the concept of an R:R ratio. You won't need 100 pips. If you can tighten your stop loss to 20 pips, then you need 60 pips for getting 3% on 1% at risk. Since you anyways only risk 2% of your account per trade, then it won't tie up any money you would miss. It would otherwise just sit in your account. Well, eur/gbp is slow just right now, but if you look over a higher time-horizon, it does move like other pairs in relation to its volatility. Of course in the last years it was more range-bound than trending, but just saying that disregarding pairs, just because they don't give out 100 pips might not be the right idea, cause it's about the R:R ratio, not how volatile the pair is. Hope I made it a bit clearer.
  • #10,806
  • May 30, 2012 10:51am May 30, 2012 10:51am
Quoting shomari
"Riskig more lots than you normally would." DOES NOT keep the % of account at risk the same. How can it ? You're "risking MORE LOTS than you normally would." More lots = more risk.
No?

Trade Life !!
if you risk 100 pips, and in that case 1 lot is 2% risk of your account, then if you only risk 50 pips, you can now risk 2 lots and it is still only 2% risk of your account, and so on.
The concept is not too difficult.
  • #10,807
  • May 30, 2012 11:03am May 30, 2012 11:03am
OK OK. LMAO !!!

Oh, this is too funny.
I never open the EUR/GBP chart because I know I'll never trade it. But CUSTOS, just for comparison, I opned it up and put it beside my other pairs I've been trading in the D1 to show you how, WORTHLESS, and USELESS, the EUR/GBP, and pairs of it's ilk are to trade.
Trading EUR/GBP, is like watching paint dry, I don't recommend it.
If anyone ever catches me tradaing that pair, SHOOT ME, because I've obviously GONE INSANE !!! LMAO !!!!

Trade Life
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  • #10,808
  • May 30, 2012 11:05am May 30, 2012 11:05am
Quoting shomari
OK OK. LMAO !!!

Oh, this is too funny.
I never open the EUR/GBP chart because I know I'll never trade it. But CUSTOS, just for comparison, I opned it up and put it beside my other pairs I've been trading in the D1 to show you how WORTHLESS, and USELESS, the EUR/GBP, and pairs of it's ilk are to trade.
Trading EUR/GBP, is like watching paint dry, I do't recommend it.
If anyone ever catches me tradaing that pair, SHOOT ME, because I've obviously GONE INSANE !!! LMAO !!!!

Trade Life
you have an amazing talent to turn a normal discussion into an emotional theatre.

Anyways, I was just pointing out to you that lower volatility pairs have the same opportunities as the higher volatility ones. Take it or leave it. Thanks for having listened for a while and enjoy your day.
  • #10,809
  • Edited 11:40am May 30, 2012 11:15am | Edited 11:40am
[quote=vladutz112;5713518]
Quoting shomari
You're exactly right!!! And, as I said, I give myself BIG stoploss space for price to "do it's thing". That's why I need at least 100 pips profit to give me a R:R of at least 3:1. Minimum !!
And, as I stated before, I put stops behind the next round number. No matter what. If I traded some crappy pair like EUR/GBP which gives out an average of less than 60 pips a day, it wouldn't be worth it to me. I look for pairs that average 80+ pips a day, with a swing profit of AT LEAST 100 pips. 3 to 1 Risk Reward Ratio.
*** Plus who...
Well, I trade more pairs than the ones I've been trading this past month, but basically, any COMM DOLL (commodity dollar, CAD, AUD, NZD), against a safe haven currency (USD, JPY, sometimes CHF), will give you HUGE payouts. Also EUR/NZD and GBP/NZD give the BIGGEST payouts, but to trade either of those you need HUGE stops, so if you don't get in those trades right at the top (or bottom) of the swing, it's hard (risky) to jump in the middle later.

That's a short list but, stick with those and you'll make MAD MONEY!!

I've been trading the same pairs, as you know, for the past 4 weeks, so just keep working em til they fizzle out. There's other stuff out there, but nothing paying out as consistently as these pairs. Look at my charts for the past few weeks, where they start and end for the week. HUGE AMOUNTS OF PIPS RIGHT ? Just keep riding em. When they're through, I'll look for other pairs to trade.

Trade Life !!
  • #10,810
  • Edited May 31, 2012 5:27am May 30, 2012 11:28am | Edited May 31, 2012 5:27am
Quoting Custos
I think you don't quite understand the concept of an R:R ratio. You won't need 100 pips. If you can tighten your stop loss to 20 pips, then you need 60 pips for getting 3% on 1% at risk. Since you anyways only risk 2% of your account per trade, then it won't tie up any money you would miss. It would otherwise just sit in your account. Well, eur/gbp is slow just right now, but if you look over a higher time-horizon, it does move like other pairs in relation to its volatility. Of course in the last years it was more range-bound than trending, but...
I put my stops behind ROUND NUMBERS, (psychological areas of support and resistance). SO if I didn't do that and then based my stops on how much I WANT to risk, sure I could do that. But you see, I place my stops FIRST, THEN, calculate how many lots I can trade. Yes I COUD tighten stops, but then you're not trading right.
Stops go behind round numbers. People who put their stops say arbitrarily 20 pips or whatever the number is, behind their entries, get stopped out, a great percentage of the time. Every pro trader tells me "behind" ROUND NUMBERS is where to place stops. You find yourself RARELY, IF EVER, getting stoppped out because in a trend, price has to "wiggle" around a bit, but you "know" which direction it's going.
Anyways, you're not wrong, you just didn't understand stops behind round numbers, as I said, NO MATTER WHAT !! (That's just the rule. which rules out pairs with smal ADR(Average Daily Range)).

Trade Life !!
  • #10,811
  • Edited 11:42am May 30, 2012 11:34am | Edited 11:42am
Quoting Custos
you have an amazing talent to turn a normal discussion into an emotional theatre.

Anyways, I was just pointing out to you that lower volatility pairs have the same opportunities as the higher volatility ones. Take it or leave it. Thanks for having listened for a while and enjoy your day.
You're right. Obviously. But volatiity is how we make our money. The more volatile, the better. If prices didn't move, we wouldn't make money right ?
I can be theatrical. But you know what...the proof is in the charts.

BTW everyone....Today, JPY 3yr bonds yield less than 1yr bonds for first time ever!! RISK OFF, FLIGHT TO SAFETY BOYS !!!

Trade Life
  • #10,812
  • May 30, 2012 11:49am May 30, 2012 11:49am
Quoting shomari
You're right. Obviously. But volatiity is how we make our money. The more volatile, the better. If prices didn't move, we wouldn't make money right ?
I can be theatrical. But you know what...the proof is in the charts.

BTW everyone....Today, JPY 3yr bonds yield less than 1yr bonds for first time ever!! RISK OFF, FLIGHT TO SAFETY BOYS !!!

Trade Life
Custos wants to say that on pair that move slower u can trade bigger and it's the same think now if we like to see them move 100 pip per day that is subjective to everyone ...but it's the same thing
  • #10,813
  • Edited 12:41pm May 30, 2012 12:06pm | Edited 12:41pm
Quoting vladutz112
Custos wants to say that on pair that move slower u can trade bigger and it's the same think now if we like to see them move 100 pip per day that is subjective to everyone ...but it's the same thing
CUSTOS is right. Absoutely. But I suppose also that, you see, TIME, is a factor. In our fast moving world, having your money tied up for days, without a payoff, is RISKY. Who knows what'll happen in those many days ?
just look at that EUR/GBP chart. It took a whole WEEK for it to move 100 pips. YES, you COULD have more lots on it,but that wouldn't be fundamental trading, and again the TIME. So much can happen in a week. What if Merkel had aquiesced to greek demands for bailout funds ?

I take cash out at FIB Expansion levels, and close trades so nothig is open over the weekend. How can you be expected to follow fundamental trading principles like that, trading a pair like EUR/GBP? I would have to keep trying to jump in and out, several times, over several weeks, just to reach the price targets? TOO much HASSLE!!

But if you're willing to do it, like I said, it's "technically", a viable option, but not one I would recommend. Too risky, and too much "in and out".

Trade Life !!
  • #10,814
  • May 30, 2012 12:21pm May 30, 2012 12:21pm
OUCH !!!! Don't believe it's RISK OFF ? Check out todays European financial numbers. OUCH !!!
Follow the link below for quick update.


http://www.zerohedge.com/news/europe...bath-continues
  • #10,815
  • May 30, 2012 12:34pm May 30, 2012 12:34pm
Quoting Skynet
To each its own, of course, but i dont use smas as s/r zones. Of course, i use sma to indicate to me the velocity of the trend....the health of the trend, as it is.

I wait for confluence...i want price to reach or almost reach the confluence of h4 trendline and s/r before going to trigger chart.

i want my trigger chart trendline to have 3 touches. even though the H4 is the setup chart...i sometimes go all the way to 15 mins .

My main trend indicator: easily found of oanda strenght heatmap: http://fxtrade.oanda.com/analysis/currency-heatmap...
.
You know it Skynet.

Terminator fan ? Just asking cause of the name.

What you into this week ?
  • #10,816
  • May 30, 2012 1:20pm May 30, 2012 1:20pm
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!
3SMAs, that's the key.
As you can see from my posts I'm using the 3SMAs for trends and trading accordingly. I put a few D1 charts up a few posts before this, showing the progress over the last 4 weeks.
Keep watching the Hector videos. Over and over. THEN, apply the FIB Expansions to your charts. Then watch the pips roll in...LOL!!!

BTW....How's it going so far?

Trade Life !!
  • #10,817
  • May 30, 2012 1:55pm May 30, 2012 1:55pm
today the market gaved a lot of pips is really nice when it moves /trading
  • #10,818
  • May 30, 2012 1:58pm May 30, 2012 1:58pm
Quoting vladutz112
today the market gaved a lot of pips is really nice when it moves /trading
i personally look for the trend in h4 i mean all the ma to point the same direction then i switch to the m30 chart and i wait the price take a swing high or low depending on the trend from h4 ....today made around 400 pips but there are days when on the h4 timeframe is trending but on the m30 is going sideways no direction then i lose money...any comments to improve?
  • #10,819
  • Edited 2:23pm May 30, 2012 2:09pm | Edited 2:23pm
Quoting vladutz112
today the market gaved a lot of pips is really nice when it moves /trading
Yeah, so far, so good. LOL. Loving it. It took a little while this week to get going though.
Honestly, I thought it was going to be a week of prices retracing up to the D1 timeframe.
Boy, was I wrong.
Yesterday, I had my alarms set for prices, if they broke short. I was not expecting them to go off. Then BOOM!! They all went off within 15 min of each other, it seemed like, and the market said "WAKE UP!!".
I complied and have been banking pips ever since.
The trouble in Europe is just scaring the living shit out of people.
This feels like the US financial collapse. Prices just keep falling, and falling. This has to be last week for this. I mean,these pairs have been falling for 4 weeks straight !! WOW !! Only time will tell though right ? Let's enjoy it while we can.

Trade Life !!
  • #10,820
  • Edited 2:25pm May 30, 2012 2:18pm | Edited 2:25pm
Quoting vladutz112
i personally look for the trend in h4 i mean all the ma to point the same direction then i switch to the m30 chart and i wait the price take a swing high or low depending on the trend from h4 ....today made around 400 pips but there are days when on the h4 timeframe is trending but on the m30 is going sideways no direction then i lose money...any comments to improve?
You must be disciplined. "ZOOM IN" 4x of the Setup chart.
Setup chart = H4, then Trigger chart is H1.
Setup chart = H1, then Trigger chart = M15
Setup chart = M30 or M15, then Trigger Chart = M5

If you ZOOM IN too far into your setup, you see alot of "noise", moments in price that don't matter.
Trading the right Trigger Chart, is just as important as identifying the trend in the right timeframe. Zoom in too far, and you start seeing things that aren't relevent to our Setup timeframe.
It's hard for me to explain what I'm trying to say, but I've noticed that if you stay in the right trigger chart timeframe, it makes your trades way easirer, because you're not trying to process information, that might look bad, but really isn't. Which causes you to make bad trading decisions.

Trade Life !!
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