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  • #2,581
  • Jun 23, 2013 1:00pm Jun 23, 2013 1:00pm
Quoting Olu
By the way would anyone on the thread be interested in trading strategies based on the weekly chart? This strategy will attempt do SetnForget trades on the weekly charts that can be manages weekly. The reason I am looking at this one is to force trading discipline and to get the biggest moves which usually occur at unpredictable times. This will also help me in my move to become a better trend trader and a position trader. If there are no bites I will launch a new thread for this system. Olu
Hi Olu, I am not sure exactly what you have in mind, but I am convinced that the real Trends are to be found on the Weekly charts looking at smoothly trending pairs(if there is such a thing). Whatever works for you is of interest to me. Best, AG
Do not dwell in the past, do not dream of the future, concentrate the mind.
  • #2,582
  • Jun 23, 2013 2:01pm Jun 23, 2013 2:01pm
EurJpy

By the way 131.00 is the real line in the sand for this idea to faily but I am being conservative and expecting price to stay within the line
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If you think you can or cannot do it you are correct
  • #2,583
  • Jun 23, 2013 3:06pm Jun 23, 2013 3:06pm
10 year notes

Golfer put up a chart of the TBF etf. This is another way to participate in the coming bonds rout. The only way out for bonds not to fall is if either or both of the following happen

Bermanke comes out and says we should disregard all he said in the last Fed meeting and a new QE program of $150b is being put in place
The stock market i.e the dow falls 1000 points in 1 day or something like that
Or the euro breaks up etc

Sorry 3 things not 2

Olu
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If you think you can or cannot do it you are correct
  • #2,584
  • Jun 23, 2013 4:12pm Jun 23, 2013 4:12pm
Orange Juice
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If you think you can or cannot do it you are correct
  • #2,585
  • Jun 24, 2013 6:39pm Jun 24, 2013 6:39pm
August Feeder Cattle
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If you think you can or cannot do it you are correct
  • #2,586
  • Jun 25, 2013 12:07pm Jun 25, 2013 12:07pm
Quoting Olu
By the way would anyone on the thread be interested in trading strategies based on the weekly chart? This strategy will attempt do SetnForget trades on the weekly charts that can be manages weekly. The reason I am looking at this one is to force trading discipline and to get the biggest moves which usually occur at unpredictable times. This will also help me in my move to become a better trend trader and a position trader. If there are no bites I will launch a new thread for this system. Olu
Hi Olu, I am interested to work together on the weekly strategies, even if i will not apply on my accounts as mine is too small for that, but I am interested to participate through analysis and watching it in progress. i suggest to keep it on this thread for simplicity, anyway, what we do is trading the daily chart within the context of the weekly charts, so not far from trading the weekly charts. Thanks
  • #2,587
  • Edited 2:44pm Jun 25, 2013 2:32pm | Edited 2:44pm
Natural Gas

Sorry guys that word was meant to be 'equal'

Olu
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If you think you can or cannot do it you are correct
  • #2,588
  • Jun 25, 2013 2:57pm Jun 25, 2013 2:57pm
Quoting rehab
{quote} Hi Olu, I am interested to work together on the weekly strategies, even if i will not apply on my accounts as mine is too small for that, but I am interested to participate through analysis and watching it in progress. i suggest to keep it on this thread for simplicity, anyway, what we do is trading the daily chart within the context of the weekly charts, so not far from trading the weekly charts. Thanks
You are right Rehab. The techniques are the same as trading the daily. Think of a eagle - that is the picture in my head
There are birds in the sky and there are eagles much higher up soaring above all the currents up there. The eagles move effortlessly (take advantage of the true trend) above all the turbulence (congestion).

An example. A friend of mine spotted a doji on a weekly chart in a stock. Other factors are the following

The doji was at the highest recent high. RSI was about 90.
Nowhere on the chart was the rsi ever close to 90
The height of the doji candle was smaller than recent candles.

There was one more factor but I cant remember it now

He sold the shares using the CFD instrument and held for 2 months and went out and bought his Mrs a new car from the proceeds

There are some times, not all the time though, when the trade is clearest on the weekly chart and the conditions are right when you will just trade off the weekly chart and not bother about the smaller timeframes

I need to catch me a few of those trades...

Olu
If you think you can or cannot do it you are correct
  • #2,589
  • Jun 25, 2013 3:22pm Jun 25, 2013 3:22pm
Quoting Olu
{quote} You are right Rehab. The techniques are the same as trading the daily. Think of a eagle - ...... There are some times, not all the time though, when the trade is clearest on the weekly chart and the conditions are right when you will just trade off the weekly chart and not bother about the smaller time frames. I need to catch me a few of those trades... Olu
Hi Olu and Rehab, Better still are the add-ons that really build up fast if the Trend is anywhere close to decent. Not even necessary to try to catch the exact turns. With a durable Trend there will be several good entry points. Best, AG
Do not dwell in the past, do not dream of the future, concentrate the mind.
  • #2,590
  • Jun 25, 2013 4:03pm Jun 25, 2013 4:03pm
Quoting AlbinaGrande
{quote} Hi Olu and Rehab, Better still are the add-ons that really build up fast if the Trend is anywhere close to decent. Not even necessary to try to catch the exact turns. With a durable Trend there will be several good entry points. Best, AG

AG

Talking about addons. You are so right. I follow another thread 'Millipede' which talks about adding more to winners. This is a skil all traders need to have in order to maximise what AG said 'any decent trend'

Olu
If you think you can or cannot do it you are correct
  • #2,591
  • Jun 25, 2013 4:14pm Jun 25, 2013 4:14pm
hi Olu and AlbinaGrande, I agree with both of you: It is nice to catch a big movement at its onset on the weekly chart and also it is safer if the trend has already started and you are joining in. I guess it comes down to your personality and how much risk do you afford to take. I guess, if I have enough account I would also go for the weekly chart and would look for one of those doji-like case you described Olu, currently i do it on the daily chart. If the trend is already established is safer, but I am not patient, if I find it fine, but if it is not yet established I do not wait. Ok, lets try to analyze the weekly charts on the weekends and we exchange ideas about possible trades. As I said I wouldn´t trade them, but I would follow them as If I had traded them. I am learning a lot by being on this thread, and I like most the respect we all exhibit for each others. Let´s have fund together
By the way, what is our $ index is doing? I closed my long USDCAD & my long USDJPY cause I am not sure if the bulls are only taking a break or the bears are coming back (my strategy doesn´t allow me to hold on during big retraces on daily chart due to my tiny account). Any opinion?
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  • #2,592
  • Jun 25, 2013 4:53pm Jun 25, 2013 4:53pm
EurUsd
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If you think you can or cannot do it you are correct
  • #2,593
  • Jun 25, 2013 6:49pm Jun 25, 2013 6:49pm
Quoting Olu
{quote} AG Talking about addons. You are so right. I follow another thread 'Millipede' which talks about adding more to winners. This is a skil all traders need to have in order to maximise what AG said 'any decent trend' Olu
Hi Olu,

I am away for several days due to a Dental emergency for my wife, but this weekend I hope to be able to post a couple of charts, if you like, which demonstrate my approach to Trend determination. The basis is to try to identify what I call "Turning Candles" at likely points of Trend Reversal or Continuation. These involve HA color changes and, if possible, a Doji implying reduced volatility or indecision at likely inflection points based on RSI behavior.

The more I think about it, I have the feeling that a new Thread may be helpful so as not to get things jumbled up.

Best, AG
Do not dwell in the past, do not dream of the future, concentrate the mind.
  • #2,594
  • Jun 25, 2013 6:52pm Jun 25, 2013 6:52pm
Quoting rehab
hi Olu and AlbinaGrande, I agree with both of you: It is nice to catch a big movement at its onset on the weekly chart and also it is safer if the trend has already started and you are joining in. I guess it comes down to your personality and how much risk do you afford to take. I guess, if I have enough account I would also go for the weekly chart and would look for one of those doji-like case you described Olu, currently i do it on the daily chart. If the trend is already established is safer, but I am not patient, if I find it fine, but if it...

You are right rehab. US$ is due for some retracement. Judging when it will start or its duration is the challenge. But it sure looks very positive for the $ right now. I expected the euro to get to 3170 today but it could only mustewr about 3140 before going down again. Sentiment and fundamentals support the US$ right now but we must not be complacent

Olu
If you think you can or cannot do it you are correct
  • #2,595
  • Jun 25, 2013 6:53pm Jun 25, 2013 6:53pm
Quoting AlbinaGrande
{quote} Hi Olu, I am away for several days due to a Dental emergency for my wife, but this weekend I hope to be able to post a couple of charts, if you like, which demonstrate my approach to Trend determination. The basis is to try to identify what I call "Turning Candles" at likely points of Trend Reversal or Continuation. These involve HA color changes and, if possible, a Doji implying reduced volatility or indecision at likely inflection points based on RSI behavior. The more I think about it, I have the feeling that a new Thread may be helpful...

You are very welcome to post the charts AG.

Olu
If you think you can or cannot do it you are correct
  • #2,596
  • Jun 26, 2013 4:12am Jun 26, 2013 4:12am
Quoting Olu
{quote} You are right rehab. US$ is due for some retracement. Judging when it will start or its duration is the challenge. But it sure looks very positive for the $ right now. I expected the euro to get to 3170 today but it could only mustewr about 3140 before going down again. Sentiment and fundamentals support the US$ right now but we must not be complacent Olu

Yes Olu, I wouldn´t short the $, the crowd is very much excited about the bull $. I am waiting for a PA signal for guidance. Cheers
  • #2,597
  • Jun 26, 2013 9:09am Jun 26, 2013 9:09am
Quoting Olu
EurJpy By the way 131.00 is the real line in the sand for this idea to faily but I am being conservative and expecting price to stay within the line {image}

The line idea is working...
If you think you can or cannot do it you are correct
  • #2,598
  • Jun 27, 2013 6:09pm Jun 27, 2013 6:09pm
Gold

A few months ago GolferFx put up a chart of weekly gold. That was before the 1500 support area was broken and boldly called the break of the 1525 support line and the progress towards 1200. Sometimes you wish you have the ability to go back to that time and insert a short position.

A bigger point I want to bring out is the fact that higher timeframe trading is imho much better that day trading. Like AG said we milk a trend for all it is worth adding positions along the way till we get to the end of the trend

Olu
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If you think you can or cannot do it you are correct
  • #2,599
  • Jun 28, 2013 6:56pm Jun 28, 2013 6:56pm
Natural Gas
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If you think you can or cannot do it you are correct
  • #2,600
  • Jun 29, 2013 12:53pm Jun 29, 2013 12:53pm
Quoting Olu
By the way would anyone on the thread be interested in trading strategies based on the weekly chart? This strategy will attempt do SetnForget trades on the weekly charts that can be manages weekly. The reason I am looking at this one is to force trading discipline and to get the biggest moves which usually occur at unpredictable times. This will also help me in my move to become a better trend trader and a position trader. If there are no bites I will launch a new thread for this system. Olu
Hi Olu,

I have a post that may be of interest to you. I will try not to get too far into the weeds. First to set the stage check out one of my favorite pairs, EUR/AUD, for the past 6 months. Lots and lots of pips in this latest 2000 pip run, particularly with add-ons depending on how aggressive you want to be.

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So how to know if you have a pair ripe for a run? I start with a basic template of Majors and CFDs just to set the stage. My account is not large enough to trade the CFDs, but watching them shapes my world view.

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And... then a selection of Aussie and Yen pairs. I choose these because they are usually smoother trending than other Minor crosses. Also I think that it is better to get to know a smaller, more manageable number particularly as I get older, and my memory grows weaker.

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Both sets of charts use Heikin-Ashi candles which are better suited for Trend identification than standard Japanese candles. The other critical indi for me is RSI which here you see as Dean Malone's TDI. In addition I Use Bollinger Bands, EMA Clouds(5,21) and a simple 200 MA.

Basically I am looking for a Weekly Turning Candle characterized by a color shift, low volatility and RSI at a likely turning point - 32,68 or 50 in the case of a Continuation reversal. I have marked a few instances to give you the idea.

Mrs AG is calling, so more later if any of this looks interesting,

Best, AG
Do not dwell in the past, do not dream of the future, concentrate the mind.
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