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Trend Trading All Pairs

  • #10,941
  • Jun 11, 2012 2:05pm Jun 11, 2012 2:05pm
Quoting Skynet
you dont like football? what is wrong with you?

Well, if there is something wrong with Custos, there is also something wrong with me , Germany and The Netherlands play against each other Wednesday, but I will probably be the only man in The Netherlands who is not watching it... simply don't like soccer....
  • #10,942
  • Edited 3:10pm Jun 11, 2012 2:25pm | Edited 3:10pm
Quoting mkb1272
Thank's Shomari, I like to get comments on the setups, It's a quick way to learn from mistakes or my lack of knowledge..... When I look at the eurjpy daily there is a retrace to the sma's, maybe a good opportunity, but have to look at S&R's at the higher TF.
What is your opinion about the 'memory' of S&R lines, there are different approaches, when I look at the eurjpy weekly, there is a S&R line that is also respected in may/sept 2000...
Hm.
In my mind this is a little complicated. I believe in S&R memory ( I like that term. I've never heard it before, but it's so appropriate.), but only in the short term, meaning, possibly a year or two, at the most, IF AT ALL.
You see, I think S&R memory, and trading with it, was more prevalent before 2008. I know guys who used to use S&R, as their basis for a trade. Unfortulatly after the US financial collapse, that all quickly evaporated, the markets began to move by fundamentals, using technicals strictly for entries and exits.
Let me give you a VERY recent example. This weekend.... At the end of last week people worldwide were hoping for a resolution of the Euro crisis, as it pertains to Spain. So, they annouced, they will do something. What happened, the Eur skyrocketed, along with some other currencies, to create, a huge gap.
Now, did that have anything to do with technicals, nope, just some politicians promising the worl BUT WAIT !! What happened today, the people start considering the plan, they look into the details and realize it's nothing more than putting the banks losses on the backs of the already cash strapped government, and Spanish taxpayer. It' all a scam, a con, nothing more than a shell game. Moving the bank debt to the government by making the government liable for the $100 billion the banks will receive through the government, thanks to one or more of the European bailout funds.
So what happened during late Lodon early US session ? Spanish bond yields SOARED, and dragged ITALIAN bods with them. Not good !!!

So I guess what I'm getting at is, that until the European policy makers figure out there monetary and fiscal dilemmas ( Can anyone say, United States of Europe. U.S.E.?), I trade more now using fundamentals as an indicator, with European soverieign bonds as a daily indicator, along with Credit default swap prices, than I ever have.
About the May 2000 support level. I take no notice. I'm trading the trend. If price stops at that level again, so what ? You just cash out and look for another trade. Hitting an historical support level is nothing to be afraid of. Anyways, there's plenty of pips to be taken before we reach that level. Plus, the world is different. The year 2000 ?!!! Most people didn't even know what www meant on a web address. Financial data wasn't so instantaneous.
After 2008, I don't care what happened before, price moves based on the greeds and fears, of the people in the here and now.
....AND UNTIL EUROPE FIGURES OUT THEIR MESS, PEOPLE WILL BE SCARED.
I think after 2008, we are in a period when financial instruments break record highs and record lows on a regular basis, and until we get back to pre 2008 times, ie; heavy demand from the US consumer, strong manufacturing and export growth in China, tied together with a "stable" middle east, and growing BRIC countries (Brazil, Russia, India, China), I believe that this voatile behaviour, based on the fundamentals, will be "the new norm" (Google that) for the foreseeable future.

Of course....I could be wrong
  • #10,943
  • Jun 11, 2012 2:39pm Jun 11, 2012 2:39pm
Quoting shomari
About the May 2000 support level. I don't care. I'm trading the trend. If price stops at that level again, so what ? You just cash out and look for another trade. There's plenty of pips to be taken before we reach that level. Anyways, the world is different. The year 2000 ?!!! Most people didn't even know what www meant on a web address. Financial data wasn't so instantaneous. After 2008, I don't care what happened before, price moves based on the greeds and fears, of the here and now.

Of course....I could be wrong
Ok, thank's, don't have to complicate things.
Well, 'the memory of s&r' is used by Walter Peters, I took his price action course, and he believes in the memory of S&R, a very good course btw, has some similarities with Hectors course.
  • #10,944
  • Jun 11, 2012 3:29pm Jun 11, 2012 3:29pm
Quoting mkb1272
Ok, thank's, don't have to complicate things.
Well, 'the memory of s&r' is used by Walter Peters, I took his price action course, and he believes in the memory of S&R, a very good course btw, has some similarities with Hectors course.
Dude. Consider what we do HIGH LEVEL trading.

What do I mean by that ? HIGH LEVEL trading incorporates MANY STYLES of trading into one sort of, shoa lin monk, ninja, trading.

YES Hector INCORPORATES elements of S&R trading, but not only that, elements of TRENDLINE trading, price pattern breakout trading, the 30 50 100 SMAs that fund managers use, along with SWING TRADING, which is what the PROS do.
You can even include a type of scalping, seeing as we can do this in any timeframe. m15 m5 "scalps".
While many others might know, "elements", of our technique, and usage of tools, we know MANY techniques which we use as elements , in our technique.
It's like, imagine some doctors. One knows the brain, one knows the heart, and one knows the liver. But then there's a SUPER DOCTOR, who knows the WHOLE THING. From the top of the head, to the tip of the toes. That's what Hector style of swing trading is like.
You can go to different thread and see that they'll see an S&R level on some chart in some random timeframe, and trade it. But when you look at the same place in your chart, you can see whether it's trending or not, etc etc.....POWERFUL.
Anyways.......yeah, lot's of elements.. and uh....
  • #10,945
  • Jun 11, 2012 6:56pm Jun 11, 2012 6:56pm
Quoting mkb1272
Ok, thank's, don't have to complicate things.
Well, 'the memory of s&r' is used by Walter Peters, I took his price action course, and he believes in the memory of S&R, a very good course btw, has some similarities with Hectors course.

how much have u paid for the course or have u downloaded from a torrent?
  • #10,946
  • Jun 11, 2012 11:01pm Jun 11, 2012 11:01pm
Quoting vladutz112
how much have u paid for the course or have u downloaded from a torrent?
The Walter Peters course is $987, and I the Hector course is $997, I did both, but that's absolutely not necessary. It was part of my quest for the perfect system(s)
  • #10,947
  • Jun 12, 2012 12:00am Jun 12, 2012 12:00am
Quoting Skynet
you dont like football? what is wrong with you?
haha, never really liked to watch it. Since 90% of the time nothing is happening, I find it kind of boring.
  • #10,948
  • Jun 12, 2012 2:19am Jun 12, 2012 2:19am
Quoting shomari
Dude. Consider what we do HIGH LEVEL trading.

What do I mean by that ? HIGH LEVEL trading incorporates MANY STYLES of trading into one sort of, shoa lin monk, ninja, trading.

YES Hector INCORPORATES elements of S&R trading, but not only that, elements of TRENDLINE trading, price pattern breakout trading, the 30 50 100 SMAs that fund managers use, along with SWING TRADING, which is what the PROS do.
You can even include a type of scalping, seeing as we can do this in any timeframe. m15 m5 "scalps".
While many others might know, "elements",...
Well, I am still glad I found this thread, the pips will come..., Shomari, isn't it night in Miami? Just finished working?
  • #10,949
  • Jun 12, 2012 7:54pm Jun 12, 2012 7:54pm
Nice thread. People discussing trading especially as I noticed trend following trading.
  • #10,950
  • Jun 13, 2012 4:23am Jun 13, 2012 4:23am
Quoting mkb1272
Well, I am still glad I found this thread, the pips will come..., Shomari, isn't it night in Miami? Just finished working?
Yeah, the trading day starts at 3am EST for me. That's the beginning of London session. I rush home from work and start the trading day.

BTW I thought it was a crime not to be a football fan in Europe? LOL.
  • #10,951
  • Jun 13, 2012 4:28am Jun 13, 2012 4:28am
Quoting shomari
Yeah, the trading day starts at 3am EST for me. That's the beginning of London session. I rush home from work and start the trading day.

BTW I thought it was a crime not to be a football fan in Europe? LOL.

, well, before the first game Netherlands - Denmark last saturday, I placed a message on facebook that there was nothing interesting on television, and I would go to the cinema (what I actually did), I had my share of surprising comments on that message ... Don't what to do tonight (Netherlands - Germany)...ok..finding setups is a good idea
  • #10,952
  • Jun 13, 2012 11:14am Jun 13, 2012 11:14am
Quoting shomari
Yeah, the trading day starts at 3am EST for me. That's the beginning of London session. I rush home from work and start the trading day.

BTW I thought it was a crime not to be a football fan in Europe? LOL.
any trades this days? i haven't seen any post
  • #10,953
  • Jun 13, 2012 11:37am Jun 13, 2012 11:37am
Quoting vladutz112
any trades this days? i haven't seen any post
Hello Vladutz, maybe you could post also some charts, of what you consider to be good setups, I find it very helpful to get comments.
  • #10,954
  • Jun 13, 2012 4:11pm Jun 13, 2012 4:11pm
well im at the begginig im not very good still learning also dont have money for the course and....
  • #10,955
  • Jun 14, 2012 12:56am Jun 14, 2012 12:56am
Quoting vladutz112
well im at the begginig im not very good still learning also dont have money for the course and....
I'm also a beginner, just 1 - 2 years in forex, I'm not that good either.
It would be good to do the full Hector course, but the 3sma part is free, so you can watch the video's, the link is posted in this thread, Shomari posted all the indicators you need, so you can always take your demotrades, post them, and learn from the experienced guys in this thread, I centainly do .
  • #10,956
  • Jun 14, 2012 1:31am Jun 14, 2012 1:31am
Hello NM and all

Just found this thread. I spent almost a year wandering only in the system sections, but to my surprise, i cannot find any system suite my trading style. I just finished reading up to page 9, and found out NM only trades M30 and higher, but my personality is on M5, M15 at most. I am so anxious to see huge DD in higher TF. I can afford to lose 5 trades in a row for a system with 15PIP SL, but not 100PIP SL for 1 trade in H4 or D1.

But NM's teaching is priceless regardless. Will catchup reading his posts and try to use it on M5. I am still trading without a system. try to adopt one for myself. After a year in forex demo and small live trades, i am ready to move to the next step, but not b4 getting my hand on a good system/trading plan.

Good day to all.
  • #10,957
  • Jun 14, 2012 2:28am Jun 14, 2012 2:28am
Quoting kevinpham
Hello NM and all

Just found this thread. I spent almost a year wandering only in the system sections, but to my surprise, i cannot find any system suite my trading style. I just finished reading up to page 9, and found out NM only trades M30 and higher, but my personality is on M5, M15 at most. I am so anxious to see huge DD in higher TF. I can afford to lose 5 trades in a row for a system with 15PIP SL, but not 100PIP SL for 1 trade in H4 or D1.

But NM's teaching is priceless regardless. Will catchup reading his posts and try to use it on M5....
Hello Kevin, a smaller lotsize is not an option?
  • #10,958
  • Jun 14, 2012 4:41am Jun 14, 2012 4:41am
Quoting mkb1272
Hello Kevin, a smaller lotsize is not an option?
Hi mkb1272,
thanks for the suggestions, but i dont think it would work for my mentality. It is the quick in quick out mentality that helped me not to be successful in forex You know how hard to change one's characteristic. I know I can't. That's why i am searching for a system that works for me on M5 & M15. Even trading on small lot sizes on higher time frames, everytime i see a move against me tens of pips, then my mind keep telling me close it, close it, close it now or it go 100 pips against you. and then as soon as i closed the trade, it went a couple more pips and reversed course, left me in the blank. and if i didnt closed it, then it took my SL.

The point is, every trader's mind is different. One is very comfortable with big stoploss in higher timeframes, one is not. AND I KNOW high time frames are more accurate, but can't work with it. I am more of an intraday person with quick ins and quick outs....

However, NM teachings is very valuable. I am still reading from the beginnings.

Green pips to all.
  • #10,959
  • Jun 14, 2012 4:50am Jun 14, 2012 4:50am
Quoting kevinpham
Hi mkb1272,
thanks for the suggestions, but i dont think it would work for my mentality. It is the quick in quick out mentality that helped me not to be successful in forex You know how hard to change one's characteristic. I know I can't. That's why i am searching for a system that works for me on M5 & M15. Even trading on small lot sizes on higher time frames, everytime i see a move against me tens of pips, then my mind keep telling me close it, close it, close it now or it go 100 pips against you. and then as soon as i closed the trade, it went...

If you're looking for the indicators and templates, they are in post #10871 and #10872.
  • #10,960
  • Jun 14, 2012 6:38am Jun 14, 2012 6:38am
Quoting mkb1272
If you're looking for the indicators and templates, they are in post #10871 and #10872.
thanks mkb1272,

I am still on page 16 or so. Need to take a break and grasp what i have learned so far. I will download and use the template to see how it works.
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