Well, that was interesting. All three pairs I am watching have had a bit of a spiky day.
Audusd is now at break even on the second trade. I'm not going to take any more entries on this pair now. If that second entry survives then I am just going to trail the whole lot behind the 100 sma.
Eurusd got stopped out on the original trade but it is now trading below 1.29 and I will consider an entry at 6pm (gmt+1) if it looks right.
Gbpusd came very close to being stopped out but didn't. It's making good progress down now so I'm just going to watch and wait to see if I can get another entry at some stage.
Audusd and gbpusd looking interesting for an entry again. Another 30 mins until the candle closes so I'll see then. Both have turned around overnight and both are trading below resistance again. If I do take them I will bring the stops in just behind the s/r level.
This is a great system, to me this is it! Trailing your stop behind the 100 SMA is brilliant. "Ride that trend till the end."
"Make as much money as possible with the least amount of risk." "The big money is in sitting and waiting."
There are a lot of trades where you break-even or get a small profit. But when you catch a good long trend.
It is amazing the kind of potential that this kind of trend following strategy has in terms of profit.
This is a great system, to me this is it! Trailing your stop behind the 100 SMA is brilliant. "Ride that trend till the end.""Make as much money as possible with the least amount of risk." "The big money is in sitting and waiting."There are a lot of trades where you break-even or get a small profit. But when you catch a good long trend.It is amazing the kind of potential that this kind of trend following strategy has in terms of profit.
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I agree, Seany - although I fear the loss of profit once obtained. I'm considering trailing my stops along the highs of the HA candles and exiting upon HA color change, and I can always reenter when the trend resumes...
This is a great system, to me this is it! Trailing your stop behind the 100 SMA is brilliant. "Ride that trend till the end.""Make as much money as possible with the least amount of risk." "The big money is in sitting and waiting."There are a lot of trades where you break-even or get a small profit. But when you catch a good long trend.It is amazing the kind of potential that this kind of trend following strategy has in terms of profit.
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It is my favourite system. You just need a bit of patience and fortitude.
USDCHF?? The swishy looks like an upmove may be pending - what do you think, HB?
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Well it trades more or less opposite to eurusd so I would expect it to push up some but I'm going to stick with the eurusd and wait for a good entry on that.
{quote} I agree, Seany - although I fear the loss of profit once obtained. I'm considering trailing my stops along the highs of the HA candles and exiting upon HA color change, and I can always reenter when the trend resumes... any thoughts, Hugh?
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That's always an option. Try an 8 ema for trailing tightly behind ha candles. To my mind if you're using a higher timeframe to wait for a signal and then you are using a lower timeframe to trade the expected trend then it makes more sense to me to just use the 100 sma and trail behind it. I am aware that some people are not comfortable to see large profits eroded when things start pulling back but in the long run I believe you will make more money by attempting to stay in for the whole trend with one, two or more entries along the way than you would by just trying to trade the impulse moves along the trend.
Hi Hugh, Great to see you back! This looks like a refined EOD. I totally enjoyed and learned a lot in that thread. Will tag along with you if it's OK with you. Again great to see you back. Joe
Hugh, when looking at the weekly with the H4, are you wanting agreement of the trend or agreement of the HA color? And if wanting agreement of the trend, are you wanting the weekly to be on the same side of the 100 SMA, or just wanting to see the SMA sloping in the same direction?
Hi Hugh, Great to see you back! This looks like a refined EOD. I totally enjoyed and learned a lot in that thread. Will tag along with you if it's OK with you. Again great to see you back. Joe
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Thanks, never been that far away but concentrating on other things.
Weekly charts? Hugh, when looking at the weekly with the H4, are you wanting agreement of the trend or agreement of the HA color? And if wanting agreement of the trend, are you wanting the weekly to be on the same side of the 100 SMA, or just wanting to see the SMA sloping in the same direction? thanks, Bry
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The system now is exactly the same as the system on the previous pdf with the daily/hourly. You wait for a signal on the higher timeframe and then you can reasonably safely expect a trend in that direction on the lower timeframe. I prefer the higher timeframe signal to be perfect as in the 100 sma sloping and the signal turn away from it but if it is a clear turn in any direction then in theory it could lead to a nice trend on the 4 hour. Have a look at the weekly charts of audusd, gbpusd and eurusd and you'll see what I'm thinking.
Swing trading with heiken ashi and stochs
