Trend Trading System

This week's market analysis here...



fartist

I'm thinking EUR/GBP at the moment. Thoughts?

I'm glad you brought that up as was looking it the other day, downward pressure definitely building up. Pending order below the multi year low weekly S/R?

Hi OliverG

I went in to soon. I've a public trade explorer feel free to comment.... Will wait and see what happens. Anyone else showing their trade explorers? 1.45pm here now.

Heads up on a trade I've just entered. EUR/CAD has just broken through the major monthly level of 1.45000




Charts are all bullish on the Monthly, Weekly, Daily, 4 Hour, 1 Hour.

I've just gone long, with a target taken from the monthly chart, of just below 1.52000

Let's see how it plays out?

Green pips to everyone.

Hey gang,

My replies will be slower over the next couple of weeks.

Reason being I'll be heading back for my annual in camp training.

Trade safe!

fartist

Rayner we will miss your posts....

I'm always lurking this thread and I'm glad to see it going strong! Thought it was about time to check in. Currently up around 10R in floating profits (including losses). Not bad for a couple of months on demo. Here's a few of my charts:





I've now graduated to a small live account. Keep up the great work everyone, and I hope you have a nice trip Rayner!

Have a good break from all our questions! By the way this thread is one year old today

Well done with the trading and live account. I am hoping to make the move soon but still not got that confidence yet. Which broker have you decided to use? I'm thinking pepperstones in about a month if I stay profitable.

Hello fella!

You're in the UK, so just sign-up for one of the spread betting brokers. One of the biggies like IG is just fine.

If you are trading the longer time frames, and therefore placing much fewer trades, than you would be if say you were scalping 10 times a day, then most brokers are going to be much the same as each other. As long as a broker is regulated in one of the major financial centres, like the UK, USA, Australia, then you aren't going to have any problems. The problems usually surface when traders start furiously scalping with their accounts.

Also, don't try and place orders right in the middle of any major news, for obvious reasons. i.e. you will likely get filled at a much worse price than usual.

You're main concern being in the UK, is to use the tax free benefits of a spread betting broker. Most other traders around the world would kill for this perk!

Also, the broker that I mentioned above, has an excellent platform and charts.

Regards,

Steve.

Thank you all for the very helpful advice.

This week's market analysis here...



Have a great trading week ahead folks!

fartist

Hey Fartist !
Nice thread and concept you have there

Ive been reading your thread for a moment now, I have a bit basic question (I'm new in forex trading)
I see you've been trading with higher TF using H4(sometimes H1),Daily and Weekly, and you use EMA (20&50) as trend filtering tools. May I ask the setting for the EMA?

example : you want to open your position in H1 after seeing the price is trending in H4 and Daily (above/below EMA 20 and 50).
Does you EMA setting in Daily TF : using period 50 --> which means 50 days, and 20 --> which means 20 days
and then you change you TF into H4 : EMA 50 --> which means 300(period) in H4 TF, and EMA 20 with period 120 in settings
and you open your position in H1 : EMA 50 --> which means 1200 period and EMA 20 with period 480

is it correct?or you just use period 50 in all TF?
I'm sorry if it's a little bit detail, thank you for your answer (i haven't read all post in your thread, sorry if this already covered before)

Thank You

Hi Jobim,

the EMA 20&50 is the same on all TFs and it's used for value zone identification in every TF. In short, once you have them on chart there is not need to adjust anything when you switch from one TF to another.

Morning guys

AUD/SGD looking a nice set up for the next few days.... thoughts?

This week's market analysis here...



I'll get get back actively on the thread by the end of next week.

Trade safe guys!

fartist

Thanks for another excellent weekly market analysis.
‎
‎I have a question if you don't mind..Iwould be interested in your experience and thoughts.....‎if prices goes parabolic in your favour how do you determine your TSL?

You've not mentioned anything else so Ithink your going to say not to make allowances for parabolic moves because after a big move there is often a retrace and it's all about staying in the trend long term.
‎
It's just I was listening to a podcast with Niels Kaastrup-Larsson (20 year trend follower) who saidif price goes parabolic, you will always want some TSL not related to volatility or a factor of ATR in place for the move, or risk giving large amounts of open profits back. He suggests to only employ it for parabolic moves (if higher than your normal stop)‎and revert back to your normal TSL after the move. He suggests tolock in a % of open profits after specific ATR move in your favor. For example, once get 5 x R, lock in 50% of your open profits. Obviously he has his own strategy.

I guess one of the reasons I'm asking is because of the recent gold move. I also have an entry on EUR/CAD, ‎which has gone 7 R in my favour in just a few days, yet my TSL according to a strict trend following approach is only preserving about 0.5 R due to EMA lag. Obviously if price does reverse against me, the ema will still be going up due to lag the other way, but it is still way off.
‎
Hope you don't mind me asking, and have a good week everyone.

Decide for yourself , your manner is deceitful

Hi Bopuc !
Thank you very much for the answer, so it wont need further adjustment in the EMA

Thanks for the weekly analysis fartist.