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Trend Trading All Pairs

  • #11,401
  • Jul 22, 2012 12:11pm Jul 22, 2012 12:11pm
Quoting 4rexx
Zusch you would really need to read Vic Trader II, to see exactly where the author is coming from. However, the scoring system does not give buy/sell signals. It is really to give you the probabilities percentage-wise whether the next trading session is likely to be a bearish or bullish one. You may score 7 for a bullish momentum but price action itself might move completely in the opposite way, as i'm sure you know. But a score of 7 or even 6 agreeing with your reading of price action will make it a higher probability that price will...
I read Vic Trader I. Good read and some good ideas. In his first volume hi points that he is actually looking for trends reversals.
  • #11,402
  • Jul 22, 2012 12:28pm Jul 22, 2012 12:28pm
Here is my EURUSD trade plan for tonight.
Attached Image (click to enlarge)
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Twitter: @zusch_ -- Preselecting trending pairs, stocks on a weekly basis.
  • #11,403
  • Jul 22, 2012 5:59pm Jul 22, 2012 5:59pm
anybody watching gbpjpy?
As Above, So Below
  • #11,404
  • Jul 23, 2012 1:11am Jul 23, 2012 1:11am
EURUSD
Just wait to get back above 1.2150 then:(T/P2 gets 80% of your Position)

Sell Position
E/P:1.2150
S/L:1.2160
T/P1:1.2094
T/P2:1.2057
T/P3:1.1994
Kami
Don’t follow someone else’s trading advice blindly
  • #11,405
  • Jul 23, 2012 3:18am Jul 23, 2012 3:18am
Chart shows everything
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Don’t follow someone else’s trading advice blindly
  • #11,406
  • Jul 23, 2012 5:36am Jul 23, 2012 5:36am
Quoting kamifx
USDCHF: After News and returning above this level (0.9910) cause i think it goes till 0.9934
Sell Stop Position:0.9910
T/P1:0.9877
T/P2:0.9833
T/P3:0.9770
For longer Time
T/P3:0.9537
Kami
That's last week Signals, of course too soon to see strong Down-Trend cause i think EURUSD must go toward 1.1980 then we see Strong Down-Trend for USDCHF (now it swings between 0.9857 - 0.9945)
Kami
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Don’t follow someone else’s trading advice blindly
  • #11,407
  • Jul 23, 2012 6:01am Jul 23, 2012 6:01am
Wow, this thread is rockin and rollin nicely.

I'll be posting irregularly til about mid August, early September. I MISSED ALL THOSE SWEET PIPS LAST WEEK !!!

But i have a few things I'm doing so I can transition to trading FULL TIME !!!

Until then, I gotta chill on trading for a while.
Naturally i'll still be following the markets closely, just not executing any trades for a while... FUUUUUUUUUUUUUUCK !!!!!

Anyways guys, enough of my bullshit. Gonna go read all the posts I missed.

Happy pipping

BTW, guys, JPY LOOKS STRONG THIS WEEK. The reality of fake Chinese GDP is beginning to set in. This thing could blow up real soon!!

I'm not even going to get into the LIBOR thing yet. EARTH SHATTERING !!! nuff said.

Check out this article:

http://www.cnbc.com/id/48279364

TO EVERYONE AT TTAP
  • #11,408
  • Jul 23, 2012 6:49am Jul 23, 2012 6:49am
Quoting Custos
So, when there was rumor that spain can't pay cope with its debt anymore and will apply for getting some money from the EU then it is not a rumor? In FX that would be called data?
Data is much more irrelevant than what politicians are about to decide with regards to their monetary or fiscal policies. Some infos come out as rumors before the actual announcement and sometimes false rumors get spread. Sometimes the markets interpret a move in fiscal policies in a totally wrong way, cause they more often just look for short-term relief, when in fact...
The markets didn't fall because Spain wanted money. Everyone knows Spain (the government ) and Spanish banks NEED MONEY. That wasn't a rumour, that was a mathematical FACT!!!
The markets didn't move on the anouncement of a request for a bailout, the markets moved because of HOW that particular bailout would happen.
So when they agreed to bail the banks out, investors got happy for a day. BUT, like I said a few weeks ago, " WHEN IT COMES TO EUROPE, THE DEVIL IS IN THE DETAILS !!
So what happened was that the government said they would be responsible in paying back the money for the banks bailouts. The market quickly realized that since Spain was forcing it's banks to use the bailout money to buy high priced Spanish bonds, that that was not a realistic plan.
SO, then they agreed to bail out the banks, with government assurance, but also bail out th government ITSELF, allowing them to (hopefully) see much lower yields at subsequent bond auctions. This made investors feel that this was a more realistic solution to the problem. BUT WAIT, their was oe final devilish point that needed to be ironed out, and that was, IF Spain DID default on their bonds, WHO WOULD BE PAID BACK FIRST (Who would take a haircut)? since the ECB and relavent agencies guaranteed bondholders would be the first priority, in the case of a Spanish default, investors began buying again.

Now, don't get shit twisted !!! The EU zone is STILL in a major shithole (and the Chinese shit is about to make life worse for EVERYONE!!!)
But since you asked about Spain. THERE IT IS.

And again, the shit you're talking, about rumors in forex. No good forex trader trades on rumors from some little blog or website. They wait for the official communiques from these type of Global Meetings, and summits etc, then make their trading decisions.
TRADING REALITY !!!!! NOT RUMOURS !!!!

I SUGGEST YOU DO THE SAME......
  • #11,409
  • Jul 23, 2012 6:56am Jul 23, 2012 6:56am
Quoting 4rexx
i remember i first heard of the cot report when i first started learning fx trading, but as a complete newbie much of the information went straight over my head. But when i heard it mentioned in this thread i did some research again of which you will find the links below if you think you will benefit from the info. The commitment of traders (cot) report which can be found here[font=calibri][size=3] and instructions of how to access...
just another tool in the arsenal boys !!!!
  • #11,410
  • Jul 23, 2012 7:05am Jul 23, 2012 7:05am
Quoting Skynet
SHOMARI,

i read your the links you posted...from the NYT..to the zerohedge and barrons on CHINA...very good stuff.....one other indicator i took from those articles that i never thought of was to try and track the movement of high chinese officials investment out of china...or news of increasing frequency of high chinese officials taking a holiday. that will be a tell.

there are many argument to and fro on the chinese economy...will it crash or not? If it crashes, the effect will be insane...jim chanos thinks this will happen sooner...bloomberg...
Thanks, will read. Jim Chanos,, I like that guy, he was in on the Enron thing early, with Bethany mclean. Thanks.

ALSO: very interesting about the elite PRC officials investments and such. But where to find such information (for free). I'm gonna start tapping into some Chinese an Asian newspapers and info portals in their Engish language sections and see what intel I can garner. Those commies are pretty tight lipped though. DISCLAIMER : I love my Chinese brother, just not the system of rues he's governed by.

Keep y'all posted !!
  • #11,411
  • Edited 8:52am Jul 23, 2012 7:35am | Edited 8:52am
Quoting Holy Cow
Guys , is anyone making some pips based on all this fundamental data? I just cannot get my head all over this stuff.
it seems to me that price is the only thing that matters. it includes everything. IMHO this amount of information can simply paralyze trader's decision taking ability.
It's not tha difficult. Why do you think the forex factory home page www.forexfactory.com is filled with fundamental data ? Cause that's what trading is ALL ABOUT. TRADING LIFE, REALITY, WHAT IS ACTUALLY HAPPENING IN THIS WORLD.
Cow, when you know the fundamentals, it doesn't mean that you trad on it right away. Read all th China stuff again. We KNOW, it's going to crash, we just don't know when, because we have to wait fir the rest of the HERD to figure it out and trade "ACCORDINGLY". But we also have short term indicators like on the FF home page which are pieces pf data that make e markets move, on a day to day basis. That info, is the stuff we use DAILY.

Perhaps,SKYNET please comment on what I'm about to say, because I think you"ll understand and probably explain this better.

OK. The Fundamentals.
Why follow ? When you know the overall fundametals, in other words, WHICH are the relevent pieces of data, and HOW do they affect the market, you have a birds eye view of all of Earths investors. By the release of data, you can almost "predict", what they will do. SEE ALL THE RORO ARTICLES. Certain thingns occur when certain indicators reach certain levels. Once you know WHICH indicators matter, and what LEVEL CAUSES PRICE MOVEMENTS, you just trade along, In fact, you already KNOW where things are going, the indicators are sort of like a confirmation or RED LIGHT/GREEN LIGHT , confirming or contradicting your overall market analysis.
PERFECT EXAMPLE: (SORRY GUYS)

If I kick you in the nuts, I know you're going to double over , and scream in pain. Well my beefy bro, its the same. Think of the global market as one big, living organism, and when certain parts of it get hit, it reacts a certain way.

Back to RORO (RISK ON, AND , RISK OFF). For instance when global manufacturing is down, comm dolls fall. the global market got kicked i it's manufacturing nuts causing the AUD, NZD, and CAD to scream in pain.

earn the "pressure points of the global economy, and you'll know it's reactions to news events, and thus will be trading REALITY, LIFE, WHAT'S ACTUALLY HAPPENING ON PLANT EARTH.

This is where the topic of (CUSTOS FAVORITE) backtesting comes in. It's due to backtesting that we know when a country raises it's interest rates, it tends to strengthen. That'sfundamental data that I bet you already knew about, and how to trade it. Well, those other pieces of data I've suggested everyone to look at are what many fund managers around the world use, (EVEN DEEPER, WAAAAAAYY DEEEEEEEPER DATA). So if you incorporate those tools (the indicators), and learn which levels cause price movements (like RSI: above 70=overbought, below 30=oversold, right ?)

Bottom line is incorporate these tools and you'll have much greater results. IMHO. The big boys don't watch this shit for nothing.
  • #11,412
  • Jul 23, 2012 7:46am Jul 23, 2012 7:46am
Quoting Skynet
i honestly dont understand your question: we have two people here, shomari and I; we obviously use fundamental analysis in our trading decision...and we are obviously doing well. So, why are you asking if people make money using fundamental analysis? Here is piptrapper's performance, he is a solid fundamental trader.

How does fundie paralyzes a trader decision making? frankly, i used to find technical analysis far more subjective and confusing with all the million...
GUYS, YOU ALREADY KNOW THE VALUE OF FUNDAMENTAL ANALYSIS, NOW EXPAND YOUR BASIC KNOWLEDGE IE INTEREST RATES AND HOW THEY AFFECT PRICES, INTO DEEPER KNOWLEDGE/INDICATORS.

IT AIN'T ROCKET SCIENCE BOYS, IT'S NOT BRAIN SURGERY !!!

I don't remember where I heard this, but a successful institutional trader said
"Any successful forex trading system has no more than 3 indicators, and you should be able to execute it DRUNK. If you can't execute your system DRUNK, you're probably making it waaaaaay too complicated !!"

Food for thought.
  • #11,413
  • Jul 23, 2012 8:02am Jul 23, 2012 8:02am
Quoting 4rexx
thanks for the support sky, I work in education and one strategy to motivate someone to learn a topic is to allow them teach someone else it, as this will make them do their homework! I like to do research to gain a good understanding of things and if it can help others that's even better. The many contributors and readers of this thread are all at different levels of experience, understanding and confidence, and the techs and fundies expressed in this thread i'm sure helps traders of all abilities, to grow in those three areas.



Holy Cow...
NUFF SAID!!
  • #11,414
  • Jul 23, 2012 8:08am Jul 23, 2012 8:08am
Quoting Custos
or you are trading a losing system. If that is the case, then you can fine tune your trade management all you want. You still won't make any money in the long-term.
For fucks sake will you stop it? !!!!!
you're like some fucking evil devil in someones ear sowing doubt all the time. WTF DUDE !!!!?

PLEEEEEEEASE CAN YOU GIVE IT A FUCKING REST ALREADY !!!!!
  • #11,415
  • Jul 23, 2012 8:13am Jul 23, 2012 8:13am
Hey there Guys

I just want to say that i will be joining this thread. Ive studied hectors techniques and think he is a brilliant trader.

My first post will be of a short trade i took on EU made a nice 30 pips.
My setup chart was the 30min chart where i built a wall of support at the dynamic support area. My trigger chart was the 5min TF.
I didnt wait for the pullback on the 5min chart as hector says that the smaller TF dont have much pullback so i entered immiadetelt after the break with a 12 pip SL. nice and tight.

--FK
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i am a nobody
  • #11,416
  • Jul 23, 2012 8:26am Jul 23, 2012 8:26am
Quoting 4rexx
In micardo's thread he says on tech analysis, you have to take every entry signal (according to your rules) you get, as you dont know if the one you decide to leave will be the home run.

Persistence overcomes resistance!
My sentiments exactly. If the setup is valid the news and fundies in my favor BANG, I set the trap with no regrets and am rewarded well over 90% of the time. (as you can see from past posts)

FYI: my max trade number is 8 (at any one time), unless there's a crazy panic of some sort. It obviously never happens, but to keep myself disciplined, I do 2% trades, with a max of 8, so if they ALL go BUST (yeah right!!) I only lose 16%. Yeah, I COULD STEP IT UP, but at 2%, I trade "fearlessly", anything over that, second guessing, and really, just general anxiety sets in, and that's no fun anymore .
  • #11,417
  • Jul 23, 2012 8:34am Jul 23, 2012 8:34am
Quoting Holy Cow
I read Vic Trader I. Good read and some good ideas. In his first volume hi points that he is actually looking for trends reversals.
I would say trade with the trend only. thats you best bet in forex just like how hector showed us.
Why would we want to go against the main trend?
The financial instituitions are trend traders.

--FK
i am a nobody
  • #11,418
  • Edited 9:02am Jul 23, 2012 8:36am | Edited 9:02am
Quoting Skynet
4REXX and HOLY cow,

reading your back and forth discussion has been interesting...of course, i have my own thoughts on the topic...but...your conversation prompts me to ask the two of you these questions:

what is more important, win ratio or risk vs reward?

How do you maximize either one of them? or both?

If you try maximization, what are the potential trade offs?

**if you dont mind, try and illustrate your thought process...even give anecdotal examples from your trading history. if you dont mind.**

Your discussion has been about...

Absolutely right, I've been thoroughly enjoying the HC, 4rexx discussion tonight as well. I SHOULD already be asleep, but I can"t resist, lol

This question wasn't asked of me but......

As is plain to see from my charts and posts, I take in the fundies then pick up to the top 8 pairs in terms of ADR, and then STRIKE MERCILESSLY!!!
  • #11,419
  • Edited 9:04am Jul 23, 2012 8:42am | Edited 9:04am
Quoting zusch
I'm a little confused about the scoring system and how that generates buy/sell signals rather than the price action itself, but the areas you mentioned are all places you can build a trading edge around no doubt.
Hey zusch, read this thread from the beginning. There's lots of pips being made here. WE DON'T FUCK AROUND WITH BULLSHIT !!!!!!


WELCOME...

  • #11,420
  • Jul 23, 2012 8:58am Jul 23, 2012 8:58am
Quoting ForexKnight
Hey there Guys

I just want to say that i will be joining this thread. Ive studied hectors techniques and think he is a brilliant trader.

My first post will be of a short trade i took on EU made a nice 30 pips.
My setup chart was the 30min chart where i built a wall of support at the dynamic support area. My trigger chart was the 5min TF.
I didnt wait for the pullback on the 5min chart as hector says that the smaller TF dont have much pullback so i entered immiadetelt after the break with a 12 pip SL. nice and tight.

--FK
EU short now a days is kind of a no brainer eh ? Gotta love it !!
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