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Thread: Trend Trading Chart Thread

  1. #1
    In light of recent discussions about suing everyone and anyone I believed that I should just mention that the purpose of this thread is amateur speculation only and doesn't constitute guie or trade advice or any type of training/eduion. Should you decide to follow and accept any of these trades I will not be responsible for your failure or any losses you could incur in any way whether monetary, emotional, real, or imagined. Should wish to trade FX (or any other market) you should make certain you're properly trained and qualified to do so. Reading a forum on a website will not prepare you for trading.

    CFTC RISK DISCLOSURE STATEMENT:
    NOTICE: HYPOTHETICAL PERFORMANCE RESULTS HAVE MANY INHERENT LIMITATIONS, SOME OF WHICH ARE DESCRIBED BELOW. NO REPRESENTATION IS BEING MADE THAT ANY ACCOUNT WILL OR IS LIKELY TO ACHIEVE PROFITS OR LOSSES SIMILAR TO THOSE SHOWN. In Reality, THERE ARE FREQUENTLY SHARP DIFFERENCES BETWEEN HYPOTHETICAL PERFORMANCE RESULTS AND THE ACTUAL RESULTS SUBSEQUENTLY ACHIEVED BY ANY PARTICULAR TRADING PROGRAM.
    ONE OF THE LIMITATIONS OF HYPOTHETICAL PERFORMANCE RESULTS IS THAT THEY ARE GENERALLY PREPARED WITH THE BENEFIT OF HINDSIGHT. IN ADDITION, HYPOTHETICAL TRADING Doesn't INVOLVE FINANCIAL RISK, AND NO HYPOTHETICAL TRADING RECORD CAN COMPLETELY ACCOUNT FOR THE IMPACT OF FINANCIAL RISK IN ACTUAL TRADING. FOR EXAMPLE, THE ABILITY TO WITHSTAND LOSSES OR TO ADHERE TO A PARTICULAR TRADING PROGRAM Regardless OF TRADING LOSSES ARE MATERIAL POINTS WHICH CAN ALSO ADVERSELY AFFECT ACTUAL TRADING RESULTS. There Are Many OTHER FACTORS RELATED TO THE MARKETS IN GENERAL OR TO THE IMPLEMENTATION OF ANY SPECIFIC TRADING PROGRAM WHICH Cannot Be FULLY ACCOUNTED FOR IN THE PREPARATION OF HYPOTHETICAL PERFORMANCE RESULTS AND ALL OF WHICH CAN ADVERSELY AFFECT ACTUAL TRADING RESULTS.



    March 2010 Update: https://www.forexforum.co.za/trading...nal-245-a.html




    After dabbling in Technical Analysis for about 5 Decades now I Have Arrived at the conclusion that the trend really is your Very Best buddy. I've tried distinct varieties of trading but for me simple trend trading has been the most profitable and least stressful.

    I utilize only the most fundamental technical analysis tools: trendlines, support resistance, around amounts as well as the fib retracement tool.

    So here it is. I probably started this thread in a bad time considering most currency pairs are in congestion however the trend will return and meanwhile perhaps we should take a look at other markets#8230;

    Short Strategy Overview

    Zoom your chart out to approximately 300 bars. If the chart is going up then we are in an uptrend. If the chart is going down8230; you guessed it8230; downtrend. My only addition to this would be that I also take into account higher highs and lower lows in determining the trend and also watch out for the break of the major trendlines that could signify a reversal of trend.

    We are always looking for a reduction to input.

    Let#8217;s assume we are in a downtrend. We await price to begin retracing back up and use trendlines and also the 50% fib retracement level to direct us. In addition, we use round numbers (i.e. .XX00 or .XX50).

    When we are in a trade simply place a trailing stop loss (currently using 100 pips on E/U and G/U#8230; additional currencies/markets will change) and let the market take you out.

    I've attached a chart which may help illue.

    An additional thing#8230; previously some traders have employed a hedging egy to attempt to offset the equilibrium of a loosing trade. We don#8217;t do this#8230; actually Jacko has developed his very own ";anti-hedging egy"; to help deal. The egy is very simple and genius#8230; if your discontinue becomes removed (you're at -100 pips) you wait for price to maneuver at least an additional 50 pips from where you were removed. You then put another trade (in the same direction as the original order) in the area you had been removed.

    For instance#8230; you went at 1.3500 (prevent loss is 1.3400), things go bad and you get removed at 1.3400 for a 100 pip loss. Now you wait8230; once price moves to say 1.3350 you put another extended at 1.3400. Allow the market select your order back up and with a bit of luck and a pinch of salt you should recover your losses and turn a profit! Note that you must be trading in the direction of the trend in order for this to work.

    And incidentally#8230; there are not any guarantees. You might get taken out another time for a loss! Take a 24 hour break from trading, if you do before putting trades the situation.

    Charts Trade Thoughts

    So without further ado let#8217;s article some charts and exchange ideas. Any currency, any market#8230; should you just want to post some ideas or see a trade please feel free to do so. My ambition with this thread is to make another forexforum.co.za mini-family/band of traders who will help each other out with ideas, ideas and constructive criticism#8230; kind of like the chaps over in the thread do!

    Let#8217;s begin.

    Regards,



    Dan

  2. #2
    Hi Dan
    Sounds great, hope this one grows.

  3. #3
    Hello Dan,

    It is very pleasant you started this new thread. In addition, I hope we'll have some major changes in tendency development.

  4. #4
    Fantastic idea Dan, I'll be keeping an eye on this thread and contributing.

  5. #5
    Hi

    where's your first page of Jacko's Forex House of Pleasure and Pain??

    All Very Best

  6. #6
    Are you appearing in with attention Dan.

  7. #7
    My mistake... I've added the link to the Initial post

  8. #8
    To get things started off I thought I would share my latest position (last week) on G/U.

    Price didn't really get to the 50% fib retracement level - if it did then I may have thought it a perfect setup! But we did reach the trendline and the 1.6350 support/resistance level.

    As price came back up I went at 1.6400 and shut out for 300 at 1.6700. If we hadn't been at the close of the week and whether the market had been trending better I would have left the place open.

  9. #9
    It has been one of my recent favorites.
    Range trading can at times be nearly as profitable as a trending market.

  10. #10
    Quote Originally Posted by ;
    It has been one of my current favorites.
    Range trading can sometimes be almost as profitable as a trending market.
    Yeah, using the right instruments that a range bound market can offer some great opportunities. I prefer to be about the tendency side of it though.

    I was actually involved in a brief on USD/CHF last week; 8 hour pin off the 1.0900 level. It was a quick fall and hit my goal before I expected it.

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