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Trend Trading All Pairs

  • #11,481
  • Jul 24, 2012 8:10am Jul 24, 2012 8:10am
Quoting ForexKnight
A setup with the GBPNZD is on the 4H TF. but that long trade dont look so good with me. you can look at the 1H TF for entry.
So far on my chart there is a nice wall of resistence i built at around the 1.5800. that could hold.
If you look at the daily TF you will see the trend setting up for short as price is in the dynamic area of S&R
Momentum up very slow indeed. I was trading a range breakout on Daily chart, but today's range did retrace past 61.8% of yesterdays range so the momentum is suspect.

Looks like EURGBP was the trade which you had a chart of. Nice hourly pinbar that closed at 5am EST below .7810. I wish I was awake for that one.
Twitter: @zusch_ -- Preselecting trending pairs, stocks on a weekly basis.
  • #11,482
  • Jul 24, 2012 8:44am Jul 24, 2012 8:44am
Quoting kamifx
...
As my morning chart showed the tight range is going to break 0.9900 and goes toward H4 Support of course after 03:00pm, the strong level for (sell Position) short term traders is between 0.9920 to 0.9930 below of that area is not very safe
Don’t follow someone else’s trading advice blindly
  • #11,483
  • Jul 24, 2012 8:49am Jul 24, 2012 8:49am
Quoting ForexKnight
im seeing a break on the EG 4H TF
we would go to the 1H to see for a nice pullback and then we will enter.
Not all of these setups are A+ setups.
If you feel the break wasnt clean enough then you can let it go. theres lots more potential and other better setups always.
JUst remember you putting you money at risk so rather take the lovely trades guys
I saw that EG setup too, but be cautious with it, looking at the weekly TF:
Attached Image (click to enlarge)
Click to Enlarge Name: EG Weekly.png Size: 36 KB
  • #11,484
  • Jul 24, 2012 8:51am Jul 24, 2012 8:51am
Quoting NightMoves
I saw that EG setup too, but be cautious with it, looking at the weekly TF:
Yup at a heavy area of support, but that stall was at 50% of last weeks move down. No one knows where the bottom is and thats a low risk trade. I wish we were both in!
Twitter: @zusch_ -- Preselecting trending pairs, stocks on a weekly basis.
  • #11,485
  • Jul 24, 2012 9:00am Jul 24, 2012 9:00am
Quoting zusch
Yup at a heavy area of support, but that stall was at 50% of last weeks move down. No one knows where the bottom is and thats a low risk trade. I wish we were both in!
I just thought I would put that out there because the support level is fairly strong but that of course does not mean it cant be broke, I myself put this on my watch list but I am not ready to jump on board with it yet.

It needs to do a few things first before I get in for a ride. This pair moves pretty slow so it could take it awhile.
  • #11,486
  • Jul 24, 2012 9:01am Jul 24, 2012 9:01am
How many of the new traders on this thread use a journal to log their trades?

--NM
  • #11,487
  • Jul 24, 2012 9:22am Jul 24, 2012 9:22am
AU seems to be bouncing off a strong area of resistence in the dynamice S&R area.
We will wait for a BPC then trade it
Attached Image (click to enlarge)
Click to Enlarge Name: au.jpg Size: 97 KB
i am a nobody
  • #11,488
  • Jul 24, 2012 9:23am Jul 24, 2012 9:23am
Quoting NightMoves
How many of the new traders on this thread use a journal to log their trades?

--NM
Im starting to keep a journal and saving all the charts i take trades on to learn from my mistakes in future.
i am a nobody
  • #11,489
  • Jul 24, 2012 9:47am Jul 24, 2012 9:47am
Quoting NightMoves
How many of the new traders on this thread use a journal to log their trades?

--NM

Hello NM, well, it is recommended by many traders to keep a trading log, but must admit I have to start one yet.... .....
  • #11,490
  • Jul 24, 2012 10:05am Jul 24, 2012 10:05am
Quoting ForexKnight
Im starting to keep a journal and saving all the charts i take trades on to learn from my mistakes in future.
It makes a difference if you want to improve your trading. All the history you can go back and look at everything.

I recommend anyone trading to keep a journal of some kind and log as much onfo as you can. Somewhere in this thread are images of it to give others ideas how to create one.

--NM
  • #11,491
  • Jul 24, 2012 10:15am Jul 24, 2012 10:15am
Quoting mkb1272
Hello NM, well, it is recommended by many traders to keep a trading log, but must admit I have to start one yet.... .....
It makes a big difference in your trading when you can see a trade that went wrong and when you go back and look you find out that well you did not wait for the setup to materialize like it should, but at the time you took the trade it all looked good. So it creates better discipline as well and you become a little less trgger happy and a little more patient wating for the setup to complete before you jump into it.

The journal I use I created in Excel and I save images of my trades and the setups and I link them right in excel so one click on the link and it brings the image up so you can study it. I also track the type of setup and I chart all that information so it becomes which setups produce the most wins and losses.

I chart my mistakes too and can see which errors are happening the most, all that information becomes extremely valuable when you are trading, after awhile you fnd yourself making less errors and you find making winning trades more consistantly.

Charting all that information makes it easy to see what works the most and what dont.

--NM
  • #11,492
  • Jul 24, 2012 10:55am Jul 24, 2012 10:55am
Here are some screen shots of the journal I use. Gives you an idea anyway.

http://www.forexfactory.com/showthre...27#post4253027
http://www.forexfactory.com/showthre...99#post4252999
http://www.forexfactory.com/showthre...35#post4253035

--NM
  • #11,493
  • Jul 24, 2012 11:37am Jul 24, 2012 11:37am
hey guys
just want to update on the AU set up that i posted earlier on. It was a nice winner and still running strong

The setup chart was the 1H and the trigger chart was the 15m.
Nice BPC pattern that happened.

Nice and easy guys
Attached Image(s) (click to enlarge)
Click to Enlarge Name: au.jpg Size: 106 KB
Click to Enlarge Name: au15.jpg Size: 107 KB
i am a nobody
  • #11,494
  • Jul 24, 2012 12:00pm Jul 24, 2012 12:00pm
Quoting NightMoves
Here are some screen shots of the journal I use. Gives you an idea anyway.

http://www.forexfactory.com/showthre...27#post4253027
http://www.forexfactory.com/showthre...99#post4252999
http://www.forexfactory.com/showthre...35#post4253035

--NM
That looks very good NM, I will also make a template in Excel, to keep track of my trades, and more important, to learn from them.
  • #11,495
  • Jul 24, 2012 12:36pm Jul 24, 2012 12:36pm
I thought I would post a picture of what I do when I am not trading...

--NM
Attached Image(s) (click to enlarge)
Click to Enlarge Name: Big SGTC2.jpg Size: 77 KB
Click to Enlarge Name: Big SGTC.jpg Size: 80 KB
  • #11,496
  • Jul 24, 2012 12:48pm Jul 24, 2012 12:48pm
Quoting NightMoves
I thought I would post a picture of what I do when I am not trading...

--NM

... related to Nikola Tesla?
  • #11,497
  • Jul 24, 2012 12:49pm Jul 24, 2012 12:49pm
Quoting NightMoves
I thought I would post a picture of what I do when I am not trading...

--NM
that's why you are in forex NM, you have to pay the electric bill...
  • #11,498
  • Jul 24, 2012 12:51pm Jul 24, 2012 12:51pm
Quoting NightMoves
I thought I would post a picture of what I do when I am not trading...

--NM
That is awesome, I have seen some Youtube videos lately the guys making music with those.

I also now know what gives you the jolt in the morning to trade.
  • #11,499
  • Jul 24, 2012 1:21pm Jul 24, 2012 1:21pm
Quoting Krypty
That is awesome, I have seen some Youtube videos lately the guys making music with those.

I also now know what gives you the jolt in the morning to trade.
Hahaha No doubt!

I build the musical ones as well. Both kinds classical spark gap and solid state. Most of the ones I build get sold to museums. Along with a bunch of other stuff.
  • #11,500
  • Jul 24, 2012 1:22pm Jul 24, 2012 1:22pm
Quoting mkb1272
that's why you are in forex NM, you have to pay the electric bill...
I should own that electric company by now...LOL
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