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Trend Trading All Pairs

  • #12,001
  • Oct 24, 2012 12:33am Oct 24, 2012 12:33am
Quoting MktScape
I was wondering if someone has any feedback on Hector ForexKnight Trading Course ...
http://forexknights.info/index.php/f...r-deville.html

To me it seems like some sort of repackaging of previous courses with some new videos added.

Thanks
Hectors course is the best thing out there!!!! But if you have the old course and tools, the only thing worth upgrading is the currency index scanner, and I think I upoaded it to this thread, earlier this year.

IMHO
  • #12,002
  • Oct 24, 2012 12:47am Oct 24, 2012 12:47am
Quoting MktScape
some experienced traders are contributing to this thread. I`ll be restarting my journey in Forex trading where I left over a year ago as i am going through a significant career change as I have resigned from my job and will be doing some less stressful (non pressure cooker like) work on the sideline and hoping to give more time to monitoring charts and trading as soon as the transition is settled.

I would consider myself almost a newbie and would seek guidance from the experienced pros here.

I was wondering how many of you are trading for a...
No, I have only been trading live for 18 months.
I traded demo for YEARS, until I could keep an account growing for at least 6 months, then I went live.
Also, no. I have a "regular" job as a nightclub promoter, which enables me to leave the club at 2:30am so I can get home for the start of London at 3am. I sleep from about 4pm EST to 10pm EST. So I trade fulltime, in terms of hours, but live from my normal job. I don't touch the money inmy tradig account.
I am currently working with a broker to set up LAMM accounts to take o clients. If successful, then I'll transition to living soley from investing

Happy pipping
  • #12,003
  • Oct 24, 2012 1:12am Oct 24, 2012 1:12am
Shomari, i ♓ανε searched for the currency index scanner to no avail. What page is it, i ♓ανε all other indicators with d exception of index scanner
i trust my system, only my broker i distrust
  • #12,004
  • Oct 24, 2012 2:52am Oct 24, 2012 2:52am
Quoting rosaferno
Shomari, i ♓ανε searched for the currency index scanner to no avail. What page is it, i ♓ανε all other indicators with d exception of index scanner
Here.
Save into metatrader/experts/indicators folder
Go to your metatrader "market watch" window -> right click, and select "show all".--> Close market watch.
Open e/u chart, set to M5, then go to insert/indicators/custom and select "currency index".

Voila!!!!!
It's quite powerful, so give it about 10 minutes to do it's thing. If your computr is old, it might slow down. This is normal. After the scan is complete your computer will return to normal.

Enjoy!!!! And Happy pipping !!
Attached File(s)
File Type: ex4 ForexCurrencyIndex.ex4   36 KB | 1,114 downloads
  • #12,005
  • Oct 24, 2012 3:46am Oct 24, 2012 3:46am
Shomari, thanks.....I sincerely appreciate. My trade was bad yesterday. There seems to be no clear trends again.
i trust my system, only my broker i distrust
  • #12,006
  • Oct 25, 2012 12:57am Oct 25, 2012 12:57am
Quoting Herd_master
Hi guys,

I’ve been away from trading for quite a while due to health problems. I used to mainly scalp EUR, but I won’t be able to return to scalping because my concentration is bad due to chronic pain and my head being woozy most of the time. Currently I only trade low maintenance income option spreads, but I’d like to slowly return to FX, though am unfit for scalping, and so I’ll will need to start slowly developing a simple low maintenance FX strategies on higher timeframes.

I’m wondering whether I should butt into this thread and...
What a good idea.. You sound like me
  • #12,007
  • Edited 3:21am Oct 25, 2012 3:09am | Edited 3:21am
Quoting rosaferno
Shomari, thanks.....I sincerely appreciate. My trade was bad yesterday. There seems to be no clear trends again.
Today the FED anouncd that they will be keeping interest rates as is at least until 2015.
How does this affect us ?
Well, I'm glad you asked. With the dollars interest rate "guaranteed" to be kept low for the next couple of years, carry traders will now find it useful to use USD for funding their carry trades. This may generat an overall weakness in usd as evidenced by todays charts.
So, we may be seeng some clear trends developing. n/u long and n/j long, are two that I'm currently looking at.
NZD is up across the board right now, after the less than dovish report from the RBNZ yesterday. Could present long opportuities.

Only time will tell, and, of course, I could be completely wrong. LOL !!

Happy pipping !!
  • #12,008
  • Oct 25, 2012 3:20am Oct 25, 2012 3:20am
Quoting Herd_master
Hi guys,

I’ve been away from trading for quite a while due to health problems. I used to mainly scalp EUR, but I won’t be able to return to scalping because my concentration is bad due to chronic pain and my head being woozy most of the time. Currently I only trade low maintenance income option spreads, but I’d like to slowly return to FX, though am unfit for scalping, and so I’ll will need to start slowly developing a simple low maintenance FX strategies on higher timeframes.

I’m wondering whether I should butt into this thread and occasionally...
Anything pertainig to swing trading trending markets is welcome. We want to have the most informed and profitable thread on ff.
Anythig to do with trend trading, BRING IT ON.
Hector is the foundation, but I think everyone has their own favorite things to do within the framework. Where they place stops, how "perfect" the Setup chart has to look etc...
S/R zones sounds interesting, do tell.
  • #12,009
  • Oct 25, 2012 3:45am Oct 25, 2012 3:45am
I saw on chinese national channel yesterday that the consumer price index has come out high again. What does dis mean, from What i ♓ανε i learnt so far frm the house, it means inflation is higher. With higher inflation, the chinese currency will depreciate in value. Since australia is the biggest trading partner of china, what will happen to australia currency with the bad numbers from china, down!! Does it mean that the reality of shorting australian dollar will come to fore soon, please house correct me if my correllation is wrong.
i trust my system, only my broker i distrust
  • #12,010
  • Oct 25, 2012 3:58am Oct 25, 2012 3:58am
Quoting rosaferno
I saw on chinese national channel yesterday that the consumer price index has come out high again. What does dis mean, from What i ♓ανε i learnt so far frm the house, it means inflation is higher. With higher inflation, the chinese currency will depreciate in value. Since australia is the biggest trading partner of china, what will happen to australia currency with the bad numbers from china, down!! Does it mean that the reality of shorting australian dollar will come to fore soon, please house correct me if my correllation...
I'm not sure what the effects are of a bad CPI report from China. But, on a broader level, if China slows down, aud gets hit. Now, remember, China is an exporting nation, and who do they export too. Europe, and the USA. So, as long as consumer demand is down in these places, China will suffer, hence, aud, nzd will suffer.
It's all about US and EU consumer demand. If corrected, we will see growth across the board, but until then, Chinese warehouses are just filling up with unsold goods, so they demand less raw materials to make more goods, so, comm dolls sink.
The big thing in the markets right now is US elections , and the US "fiscal cliff" due on Jan 1 2013. If they don't solve that, Jan 2 will be a very scary day marketwise, indeed.
  • #12,011
  • Oct 25, 2012 4:37pm Oct 25, 2012 4:37pm
Quoting shomari
Y'ALL BETTER BE SHORTING JPY!!
RISK ON
Comm dolls on the rise., got triggered on
I'm still in ast nights trades. Just got triggered on n/u @ 65.11.
I'll post update charts later.

Happy pipping gents !!!
This was a nice call Shomari. USDJPY looks very bullish and I unfortunately missed the best part of the ride.

When also looking DX monthly chart, there is a nice double wick bottom forming over 80.0. I wonder if this is the market pricing in the possibility of a Romney victory which should in theory return some confidence in the $ worldwide.
Twitter: @zusch_ -- Preselecting trending pairs, stocks on a weekly basis.
  • #12,012
  • Oct 25, 2012 6:50pm Oct 25, 2012 6:50pm
Quoting zusch
This was a nice call Shomari. USDJPY looks very bullish and I unfortunately missed the best part of the ride.

When also looking DX monthly chart, there is a nice double wick bottom forming over 80.0. I wonder if this is the market pricing in the possibility of a Romney victory which should in theory return some confidence in the $ worldwide.
Thanks. I was reading somewhere that liquidity in the markets is down 30% from last year, that's why the trends don't seem to follow through to price targets.
They say that until US figures out the fiscal cliff problem, participation in currency speculation will stay low.
Personally, I'm trading extremely lightly until the Conngress figures out the fiscal cliff.
As far as the elections for president, I don't think it matters until after they see who wins. Plus it's tied now, so to place a bet on who's going to win is really just guessing. No smart person would bet on the outcome yet.
As for as Romney and Obama go, Romney is proposing a Bush/Cheney style economy, and Obama is proposing a Clinton/Gore style economy. If anything, I think the smart money wants the Clinton years back, economically anyways. We all know the result of the Bush years. The last time America was going full steam ahead was under Clinton.
  • #12,013
  • Oct 26, 2012 8:43pm Oct 26, 2012 8:43pm
Quoting shomari
Here.
Save into metatrader/experts/indicators folder
Go to your metatrader "market watch" window -> right click, and select "show all".--> Close market watch.
Open e/u chart, set to M5, then go to insert/indicators/custom and select "currency index".

Voila!!!!!
It's quite powerful, so give it about 10 minutes to do it's thing. If your computr is old, it might slow down. This is normal. After the scan is complete your computer will return to normal.

Enjoy!!!! And Happy pipping !!
I was wondering how you use it? I have a copy actually bought it long ago from Hector but did not find it useful, perhaps I didn't know how to use it. I actually asked Hector recently on his chatroom, but he quickly changed the subject and did not get an answer from him as well
  • #12,014
  • Oct 27, 2012 12:50pm Oct 27, 2012 12:50pm
Quoting hytten
I was wondering how you use it? I have a copy actually bought it long ago from Hector but did not find it useful, perhaps I didn't know how to use it. I actually asked Hector recently on his chatroom, but he quickly changed the subject and did not get an answer from him as well
How to Use te Currency Index

The currency index is divided by timeframes. So say you like trading the h1. Look at which currency is strongest and which is weakest and trade accordingly.

BIG TIP:

A currency is good to trade if it has 8 bars or more !!!!! Other than that it'sjust showing direction as of RIGHT NOW.
Also, another trick is, if you see a currency weak on all timeframes (I usually focus on h1 and up) then you can safely go short wth it (with confirmation from your charts of course)
Hector used to have a video about it. When you bought it, you got a password for the members area, if I recall correctly, the video is in there.

I persoally do't use it much, I'll just take a peek to find the strongest and weakest currencies, but I us the trendscanner waaaaaaay more, everyday in fact. Currency index tells you what a currency is doing in a particular timeframe, but the trendscanner shows you what PAIRS are doing in timeframes, and that's way more useful to know.IMHO
  • #12,015
  • Oct 31, 2012 2:31pm Oct 31, 2012 2:31pm
Monthly candle reads in order of preference for November:

1) GBPAUD - short
2) EURAUD - short
3) USDCAD - long
4) EURUSD - short
5) USDJPY - long

These are the cleanest looking pairs in my eyes according to their monthly charts. I'm going to be posting some charts on my Twitter when they officially close in an hour and a half.

Best time of the month to open long term positions is often at the beginning of the month so keep that in mind.
Twitter: @zusch_ -- Preselecting trending pairs, stocks on a weekly basis.
  • #12,016
  • Nov 3, 2012 4:15am Nov 3, 2012 4:15am
Completely reversed all positions yet again. all in pips but G/u. will be stopped most likely. Looked very promising for long as gbp/usd broke channel upward on weekly and potential is good but usd strength and gbp weakness on Friday turned the tables. I am mostly concerned with trades going well. I am heavy into USD, aud and nzd. gbp vs aus and nzd doe snot look good so far. sold some eur vs jpy and chf as it looks to me that eur strength has been ebbing away along with Draghi speeches. btw, aud/jpy looks like cannot break range yet again. I am thinking whether to short or not. aud looks better than jpy but is it enough to break out.
  • #12,017
  • Nov 4, 2012 1:52pm Nov 4, 2012 1:52pm
If anybody needs any change, let me know, okay?

i am open to sponsoring three people. you dont beleive me? here is my bank account from the 23rd of october, 2012.

peace out,

--skynet

P.S. hahahahahahha.
Attached Image (click to enlarge)
Click to Enlarge Name: ScreenHunter_02 Nov. 04 14.54.jpg Size: 55 KB
" It may mean something. It may mean nothing at all "
  • #12,018
  • Nov 6, 2012 12:10am Nov 6, 2012 12:10am
Things start looking brighter if even gbp/aud finally picked direction. I am in on quite a few trends by now. all positions are in profit after that damned whipsaw. cross fingers and hope it is going to continue.
I got the news yesterday that eur dudes are committed to keep price for e/u at 1.2778. 1.2800 is seriously behaving like nice resistance despite buying pressure. got 13 positions running now. Let's see how things turn out.
Too early to post snapshots but if everything goes well, I will as usually

Moo!
  • #12,019
  • Edited 4:47am Nov 8, 2012 2:25am | Edited 4:47am
Hi,

Lets see if I got it. I like this trading approach, but I have a fulltime job and am not able to follow trades on intraday basis. Therefore I am always looking for a trend on weekly charts and use the daily as my trigger chart. Recently I found on the EURGBP pair a trend on the weekly including a retracement to the 50% level and touching the 50 SMA. Considering having a major resistance level at 0.81 (round number) and broken the round number of 0.80 to the downside and the former donwtrendline kept the pair below and also the retracement trendline broken to the downside and we have the bearish engulfing candle too ( a lot of conflunences ) - I switched to the daily chart to look for an entry trigger.
On the daily chart we got a retest of the downtrendline, the brake of the round number 0.80 to the downside and a bearisch engulfing candle, so I placed a sell order with the stop loss slightly above the 0.81 area.
Now I switched back to the weekly chart to manage the trade ( I know, I need a lot of patience for that one ). My plan is to, once the trade is in profit the same size like my stop loss, I move the stop loss to brake eaven. I attached the fibonacci expension tool and take partial profits at the 61%, 161% and 261% levels.

EURGBP Weekly
http://i1306.photobucket.com/albums/...gbp_weekly.png

EURGBP Daily
http://i1306.photobucket.com/albums/...rgbp_daily.png
  • #12,020
  • Nov 10, 2012 1:41am Nov 10, 2012 1:41am
EurGBP is in a area where one need to see lots of confirmation before going short or long.....You can see clearly that your entry point in this weekly chart is right at support of left shoulder (H & S pattern). I prefer long more than short at this point but to enter any trade in this pair now you need lot of confirmation. Best of luck for this trade.


Quoting andreasa
Hi,

Lets see if I got it. I like this trading approach, but I have a fulltime job and am not able to follow trades on intraday basis. Therefore I am always looking for a trend on weekly charts and use the daily as my trigger chart. Recently I found on the EURGBP pair a trend on the weekly including a retracement to the 50% level and touching the 50 SMA. Considering having a major resistance level at 0.81 (round number) and broken the round number of 0.80 to the downside and the former donwtrendline kept the pair below and also the retracement...
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