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Multi-Lot Multi-Timeframe Position trading

  • #1,341
  • Aug 6, 2015 1:20am Aug 6, 2015 1:20am
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Graviton Last Monday , it shoot up but next day and today going down as usual . Would u dare put in Big stop loss or not worth it ,
On weekly and monthly suggest on bit long , On Daily , from May till now ,Been going down all the time It is confusing for Stop loss or with out Stop loss
Sorry i,m confusing , What is the rigfht way as u suggest ,
  • #1,342
  • Aug 10, 2015 2:17am Aug 10, 2015 2:17am
Hi Everyone,

we have talked a lot about retracements and reversals. GBP took large hits last weeks. For me, the fundamentals are still for GBP and I personally do not see a main reason for a trend change. So now what I need is technical confirmation and then I can start to reestablish GBP positions.

If there is a trend change, it is for me at the CHF. It starts losing ground against everyone. That is good to keep an eye on.

IBO
  • #1,343
  • Aug 12, 2015 1:03am Aug 12, 2015 1:03am
Hi Everyone,

I see that everyone is taking a break, I still share my views as someone might read it.

GBP is still strong but I think I will not push it as strong. I have positions and have to adjust them again before the big news in 2.5 hours and lately big news meant bad news for GBP.

EUR starts to be king of the hill lately, might pay attention more to those pairs.

CHF seems to lose its strength.

I have spot two favorable setups where I was not in until now: EURCHF and CHFJPY both selling CHF.

IBO
  • #1,344
  • Aug 12, 2015 2:09pm Aug 12, 2015 2:09pm
Quoting IBreakOut
Hi Everyone, I see that everyone is taking a break, I still share my views as someone might read it. GBP is still strong but I think I will not push it as strong. I have positions and have to adjust them again before the big news in 2.5 hours and lately big news meant bad news for GBP. EUR starts to be king of the hill lately, might pay attention more to those pairs. CHF seems to lose its strength. I have spot two favorable setups where I was not in until now: EURCHF and CHFJPY both selling CHF. IBO
IBreakout , U might want to join Support and Resistance Method-pharley http://www.forexfactory.com/showthread.php?t=551541
Very good
  • #1,345
  • Aug 12, 2015 2:57pm Aug 12, 2015 2:57pm
Quoting Wotdafx
Hi Graviton, Many thanks for the thread, a great read. (Callout to pipEASY too if he's out there somewhere, the millipede thread, where my first successes came from). I'd really like to ask you some questions based on my experiences trying to ride the trend like you do - anything you can suggest would be appreciated. Where to begin... I had some success with an approach based on the millipede thread, but it was a real rollercoaster ride. I'm actually thinking as I look back at the charts that the big EU trend late last year is the main factor in...
Hi Wotdafx. I have a some issues I'm dealing with right now. I hope to get back to answer your questions soon. Best success. -G
  • #1,346
  • Aug 16, 2015 4:04am Aug 16, 2015 4:04am
Quoting terminator12
{quote} IBreakout , U might want to join Support and Resistance Method-pharley http://www.forexfactory.com/showthread.php?t=551541 Very good
Hi Terminator,

thanks for the suggestion. I checked and looks an interesting thread. Still, I think I stay only here. I do not want to go off topic so I just rather say I have my opinion on S&R, on Fibonacci, Chart patterns and etc.

I rather concentrate on mastering a methodology like this than on those other stuff. I did invest enough time other areas like Elliot wave, Harmonic patters and really everything and there is a reason why I am here.

Have a great Sunday,
IBO
  • #1,347
  • Aug 19, 2015 8:53am Aug 19, 2015 8:53am
Quoting freundr
Hey Graviton, Great thread and discussion. You may have talked about this already but does swap play any role in your trading decisions ? Some pairs with my broker carry a significant negative swap cost that would really impact profit/losses especially with multi week trades.
Hi Freundr. Since I trade in and out of currencies, I consider the swap cost as just a cost of doing business, like spread cost. My goal is to make more on the trade than the total costs of the trade. But of course, the swap costs must be considered in the bottom line. Best success. -G
  • #1,348
  • Aug 19, 2015 9:17am Aug 19, 2015 9:17am
Quoting Wotdafx
Hi Graviton, Many thanks for the thread, a great read. (Callout to pipEASY too if he's out there somewhere, the millipede thread, where my first successes came from). I'd really like to ask you some questions based on my experiences trying to ride the trend like you do - anything you can suggest would be appreciated. Where to begin... I had some success with an approach based on the millipede thread, but it was a real rollercoaster ride. I'm actually thinking as I look back at the charts that the big EU trend late last year is the main factor in...
Hi Wotdafx. Even though I enter with a wide stop, I'll usually exit early if a trade doesn't go in my direction fairly quickly. I can always enter again later if things start to look better. My goal is to not get stopped out from minor market spikes, but not to take large losses on reversals of trend. It's a careful balance that I'm constantly adjusting based on market volatility, fundamental information and other relevant factors. Somewhere between a stop so tight that a small spike will take me out of the trade and one so wide that a major reversal in trend will produce a big loss is usually right. So when I enter a trade, I consider what a small spike could be, usually 50 pips or so, and I consider what a large loss would be, like 100 or 200 pips. Of course that could vary some depending on the pair and market conditions. Then I'd enter with a stop that would force an exit before a large loss and I'd consider exiting early on anything more than a small spike. Yes, it's a constant attempt at reaching the right balance.

For me, I only get the third lot on about 1 in 10 trades. I average about 3 attempts a week to enter a new trade, sometimes more or less depending on market conditions, and I get around 1 really good 3-lot trade a month on average. That's just an average. As you noted, I could get three good multi-lot trades one month and none the next. Good discussion. Thanks for the questions. Best success. -G
  • #1,349
  • Aug 19, 2015 9:23am Aug 19, 2015 9:23am
Quoting terminator12
{image} Graviton Last Monday , it shoot up but next day and today going down as usual . Would u dare put in Big stop loss or not worth it , On weekly and monthly suggest on bit long , On Daily , from May till now ,Been going down all the time It is confusing for Stop loss or with out Stop loss Sorry i,m confusing , What is the rigfht way as u suggest ,
Sorry to be so slow to answer, but I've been dealing with some personal issues here. I haven't traded the AU for a while since the trends were mixed. I would trade such a pair carefully, exiting quickly if it doesn't move in my direction soon after entry. Better to miss a small gain than to take a large loss. Cheers. -G
  • #1,350
  • Aug 19, 2015 9:34am Aug 19, 2015 9:34am
Quoting IBreakOut
Hi Everyone, we have talked a lot about retracements and reversals. GBP took large hits last weeks. For me, the fundamentals are still for GBP and I personally do not see a main reason for a trend change. So now what I need is technical confirmation and then I can start to reestablish GBP positions. If there is a trend change, it is for me at the CHF. It starts losing ground against everyone. That is good to keep an eye on. IBO
Running mostly long GBP and USD and short CAD at the moment. CHF seems a bit unstable to me at this time. Just my opinion, I could be wrong. Cheers. -G
  • #1,351
  • Aug 24, 2015 1:02pm Aug 24, 2015 1:02pm
Dramatic day. Had to pull out my almost forgotten scalping skills due to fast markets. Great fun. +1700 pips on multi-timeframe multi-lot trades taken Friday and Sun night. Every trade was trending the same direction in every timeframe from weekly and below. I love it when a plan comes together. -G
  • #1,352
  • Aug 24, 2015 3:00pm Aug 24, 2015 3:00pm
Quoting Graviton
Dramatic day. Had to pull out my almost forgotten scalping skills due to fast markets. Great fun. +1700 pips on multi-timeframe multi-lot trades taken Friday and Sun night. Every trade was trending the same direction in every timeframe from weekly and below. I love it when a plan comes together. -G
Hi G, nice! The market is insane! Almost 2000 pips movement on GBPNZD! Sorry didn't reply u much here but I m still reading Your post. By the way, can I ask what broker u using?
  • #1,353
  • Aug 24, 2015 8:49pm Aug 24, 2015 8:49pm
Hi Mattrix, I hope you got some of that volatility. In these fast markets it's important to get out fast if you are on the wrong side, and ride the trade to riches if you are on the right side. I'm using Oanda. I actually have an FXCM account too, but I don't use it much. They both perform about the same. -G
  • #1,354
  • Aug 25, 2015 6:47am Aug 25, 2015 6:47am
Quoting Graviton
Hi Mattrix, I hope you got some of that volatility. In these fast markets it's important to get out fast if you are on the wrong side, and ride the trade to riches if you are on the right side. I'm using Oanda. I actually have an FXCM account too, but I don't use it much. They both perform about the same. -G
Just on demo but I did caught it. Long EUR, CHF, JPY short AUD, CAD.

I use Oanda too but spreads during news is insane. And for pairs like GBPNZD is 100 pips spread when market close on fri... Difficult to keep trade over the weekend. Any spread issue with Fxcm?
  • #1,355
  • Edited 9:06am Aug 25, 2015 8:20am | Edited 9:06am
Quoting Mattrix83
{quote} Just on demo but I did caught it. Long EUR, CHF, JPY short AUD, CAD. I use Oanda too but spreads during news is insane. And for pairs like GBPNZD is 100 pips spread when market close on fri... Difficult to keep trade over the weekend. Any spread issue with Fxcm?
I'm not sure of the difference in spreads. I believe both FXCM and Oanda use variable spreads, but I haven't had time to do a side by side comparison. I'm sure there must be something on Google about it. Perhaps someone else has found something? -G


Edit: Here is a site that says it compares Oanda to FXCM. It shows mostly lower spreads on Oanda, but I think we might want to look a little deeper: http://www.forexbrokerz.com/fxcm-vs-...parison/eurjpy
  • #1,356
  • Aug 25, 2015 8:22am Aug 25, 2015 8:22am
Sitting on the sidelines now. Lots of reversals after yesterday's big moves. I'll wait until the market is more predictable to re-enter. -G
  • #1,357
  • Aug 25, 2015 11:05am Aug 25, 2015 11:05am
I like FXCM for position trading because their overnight rates are pretty good.

Graviton, how do you find the overnight rates on Oanda?
  • #1,358
  • Aug 25, 2015 11:06am Aug 25, 2015 11:06am
I meant, what do you think of them, not where are they
  • #1,359
  • Aug 25, 2015 11:11am Aug 25, 2015 11:11am
Quoting lemna
I like FXCM for position trading because their overnight rates are pretty good. Graviton, how do you find the overnight rates on Oanda?
Lemna, I haven't done a careful evaluation of their rates, so I really can't comment. Perhape others have an opinion?

Just re-entered UCad long on an H1 breakout.

G
  • #1,360
  • Aug 26, 2015 4:30am Aug 26, 2015 4:30am
Quoting Graviton
{quote} I'm not sure of the difference in spreads. I believe both FXCM and Oanda use variable spreads, but I haven't had time to do a side by side comparison. I'm sure there must be something on Google about it. Perhaps someone else has found something? -G Edit: Here is a site that says it compares Oanda to FXCM. It shows mostly lower spreads on Oanda, but I think we might want to look a little deeper: http://www.forexbrokerz.com/fxcm-vs-...parison/eurjpy
Thanks G, but u have no issue with the spreads during news? The widening is quite scary
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