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Trend Trading System

  • #1,361
  • Sep 25, 2015 2:29am Sep 25, 2015 2:29am
i still think better to wait patiently until better setups...choppy consolidatins yet.
  • #1,362
  • Sep 25, 2015 3:33am Sep 25, 2015 3:33am
Quoting umairsheikh2
{quote} Hi Rayner, Thanks for always supporting us... Your guideline and videos are crytal clear so dont have any confusion. Now I became full time forex trader because of you... Cant say thanks enough for giving real path of successful jounery. Right now I am making four figure every month but I am happy because I just invested $1000 . Hope we will all make good money from this deadly market. I just want to give personal advice to newbies, "please always use demo account at least six month when your account tripple then start live trading...
Hey Umair,

Thank you for your kind words. I'm really glad to see your trading has improved.

Keep up the excellent work. You deserve the credit

fartist
Whether you can or you can't, you are both right.
  • #1,363
  • Sep 25, 2015 4:24am Sep 25, 2015 4:24am
Hi,

Probably worth stating I am only just starting on my forex journey, but have been Spending my time reading and would like to say a massive thank you to all those who invest their personal time to help people like me.

I know the entry on the chart below is late, still far to giddy when I think I see a set up, but would appreciate any feedback on if my thought process is right or what I have missed.

Has been trending down now for 4m, price below 20 and 50 on weekly but not in order (does that matter on higher tf?)
Daily price and Ema's lined up about a month ago and price had a retrace Finding resistance at 20 and upper channel (as I drew) so that was my entry (or should have been)

SL set at 2ATR from entry

Many thanks
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  • #1,364
  • Sep 25, 2015 10:32am Sep 25, 2015 10:32am
personally i would wait on the trade
  • #1,365
  • Sep 25, 2015 10:59am Sep 25, 2015 10:59am
Good to get some chart discussions going.
  • #1,366
  • Sep 25, 2015 6:24pm Sep 25, 2015 6:24pm
Here is an example of what im finding in charts...ie EURUSD...Caught in this tight sideways channel.it is starting to make higher highs and higher lows so if it breaks above the channel it would be a great risk to reward and if it breaks below than go short..which way it breaks ...I HAVE no clue..but we will see.
Attached Image (click to enlarge)
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  • #1,367
  • Sep 26, 2015 3:51am Sep 26, 2015 3:51am
Quoting georgewashin
{quote} Hi, I'm using in demo fxpro which has a wide catalog of CFDs; check the website. Unfortunately they do not provide with a position sizing tool.
Thank you george, will look them up.
Have a great week end..
  • #1,368
  • Sep 27, 2015 9:52am Sep 27, 2015 9:52am
Hey gang,

I'll be out of town this week.

I'll resume posting and market analysis next week.

In the mean time, trade safe and talk to you soon!

fartist
Whether you can or you can't, you are both right.
  • #1,369
  • Sep 28, 2015 2:48am Sep 28, 2015 2:48am
I'm thinking -
If this breaks upwards, I'll try to catch it on the re-test or flag pattern. Don't think any breakout will be massive.
Just as likely to break the trend line and heads south as a continuation pattern, if so I'll leave this particular set up alone as support level further below might provide opportunity. Just my errr....thoughts.
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  • #1,370
  • Sep 28, 2015 10:04pm Sep 28, 2015 10:04pm
Hello All.

I have a quick question and would like to hear your thoughts. As you all may know almost every currency instrument has been trading in a range for the past few months. There are currencies that are starting to breakout of these consolidations. I know that in order to confirm the direction of the trend we look at the monthly, weekly, and daily time frame. ( Monthly and Weekly, must be above 20 and 50 EMA)

The question I have is that now that these instruments are starting to break out do we wait until the Monthly candle is above the 20 & 50 EMA. How would you trade a breakout? is the breakout and the weekly candle above the 20 & 50 EMA enough to go long/short? What are your takes?
  • #1,371
  • Sep 29, 2015 10:22am Sep 29, 2015 10:22am
Hi Rayner.

I followed your post "Trend Following All Markets With Unlimited Upside And Limited Dowside" on another forum as well. Very good stuff.

I was introduced to trendfollowing by Adrian (arbitrager on acid) from that forum. I was taught a different variation and would like to have your thoughts on this :

I was taught to enter on a 4 week breakout , buy or sell depending on a 200 ma direction, and place my stops on the opposite side of the candle range. I have also adopted this strategy on 2 weeks. I move my stops on a weekly basis to the following candle's range end, until my stop is eventually hit for profit or loss. I am at a mental tug of war whether I should use ATR levels as stops rather - maybe place a trademanager that can manage all trades placed to add such a stop - what do you think?
Also it has been almost 2 months now that I have been trading this way, and I am still in the negative, I know it is a very slow way of trading, what you make in 6 months is much more than a intra-day trader would make.

I think the two things that a trader needs a lot of patience for is letting winners turn into losers and hopefully back to winners again and just having patience to spend your couple of hours a week on your system.
Any suggestions please?
  • #1,372
  • Sep 29, 2015 1:19pm Sep 29, 2015 1:19pm
Quoting umairsheikh2
{quote} Hi Rayner, Thanks for always supporting us... Your guideline and videos are crytal clear so dont have any confusion. Now I became full time forex trader because of you... Cant say thanks enough for giving real path of successful jounery. Right now I am making four figure every month but I am happy because I just invested $1000 . Hope we will all make good money from this deadly market. I just want to give personal advice to newbies, "please always use demo account at least six month when your account tripple then start live trading...
Okay guys I am getting several PM's regarding this post. I just want to stress here, do not forgot about money management.

It's playing very vital role in forex trading. If you don't have strategy for money management then sorry to say, every strategy will FAILED.

May be you could survive this deadly market from flukes with proper money management. I hope you guys will understand my point here.

I can't stress enough importance of money management. I hope Rayner will make more videos regarding this subject so everyone gets benefits.

Quoting fartist
{quote} Hey Umair, Thank you for your kind words. I'm really glad to see your trading has improved. Keep up the excellent work. You deserve the credit fartist
Thanks alot Rayner, its really motivational comment.

Regards.
Umair (Umee)
I Win, I Lose, It's my Job... And I Love it!
  • #1,373
  • Oct 5, 2015 8:31am Oct 5, 2015 8:31am
This week's market analysis here...

Inserted Video


fartist
Whether you can or you can't, you are both right.
  • #1,374
  • Oct 5, 2015 9:23am Oct 5, 2015 9:23am
Quoting fartist
This week's market analysis here... https://www.youtube.com/watch?v=isTYAgtpqRM fartist
Watched it yesterday i am subscribed to your youtube channel.

Thanks for your continuous effort.
The master knows exactly the right time to do nothing.
  • #1,375
  • Oct 5, 2015 9:45am Oct 5, 2015 9:45am
Quoting Au.trader
{quote} Watched it yesterday i am subscribed to your youtube channel. Thanks for your continuous effort.

Thanks Au!

fartist
Whether you can or you can't, you are both right.
  • #1,376
  • Oct 5, 2015 10:38am Oct 5, 2015 10:38am
Fartist,
Why did you decide to go long on u/j when price is still below the 50 ema on daily chart?
  • #1,377
  • Oct 5, 2015 7:57pm Oct 5, 2015 7:57pm
Quoting sutivserv
Fartist, Why did you decide to go long on u/j when price is still below the 50 ema on daily chart?
This is another way of how i enter a trend.

It's not strictly following the 50 EMA approach in this thread.

fartist
Whether you can or you can't, you are both right.
  • #1,378
  • Oct 6, 2015 1:23am Oct 6, 2015 1:23am
Thought I'd share this...

It's dangerous to assume you know everything.

Instead follow what the late Steve Job's said, keep learning, stay hungry and stay foolish

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fartist
Whether you can or you can't, you are both right.
  • #1,379
  • Oct 6, 2015 7:42am Oct 6, 2015 7:42am
Hi fartist,

Good video, thanks a bunch! Just curious on why you didn't consider putting a buy limit at the bottom of the range of USDJPY? Thanks!
  • #1,380
  • Oct 6, 2015 10:29am Oct 6, 2015 10:29am
Guys have you noticed trend have been changed for AUDUSD, NZDUSD and USDCAD.

Now it's look uptrend for AUDUSD and NZDUSD; and USDCAD for downtrend on H4 and Daily charts but Weekly chart still long yet (vise-versa).

What do you say guys? Especially Rayner?

Regards.
Umair (Umee)
I Win, I Lose, It's my Job... And I Love it!
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