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Trend Runner

  • #41
  • Apr 30, 2013 11:53am Apr 30, 2013 11:53am
Quoting ilzalama
{quote} .....For every 10 pips of movement, even if price has retraced, I manually add 1 pip to my BE. I am looking to , at minimum, secure 10% of the overall move. I am talking about candle highs/lows not current pip amount. Example: long GBP/USD @ 1.5000 Next candle close @ 1.5050, Candle High 1.5100. My BE will be +10 NOT +5 -ILZ
Thank you sir for all your explanation. This final part has particolarly enlightened my understanding of this part of your trailing stop management.

I'd like also to ask: do I understand well that, when the trend evolves, you also move you stops a bigger step up, that is streight above a new S&R? For example I read in post number one
"If/when price moves 30 pips in my direction, I move my sl to + 3. For every 10 pips price moves for me, I add 1 pip to BE. Once a new support/resistance line is confirmed (usually within 3 candles), I move my SL to that line + 3".
By "that line +3" you mean a new "S&R line +3"? Could you show us an example?
  • #42
  • Apr 30, 2013 12:35pm Apr 30, 2013 12:35pm
Hi gaia68

Look at my post no 37, you will notice on the chart of Ilz, that he only moves his stop if the s&r line has formed out of 3 candles , and he moves it 3 pips above(i think) thats why he got stopped out this time and not earlier on ,

I just need a better understanding of how to re-enter after we get stopped out and the trend carries on in our favour
  • #43
  • Apr 30, 2013 1:01pm Apr 30, 2013 1:01pm
Hi Ashtrader, yes, you are right.
I do not have Barry S&R in my platform, unfortunately, so on this chart you mention I would have thought that stop exit would have been in the middle of the chart already, because a recent support had been broken, but evidently that's not the case (bad for me), as the action continued and ILZ was stopped out later on (good for him).
For whar concerns reentry I think that you have to wait for the canlde to close above the blue supertrend line, but also it is better if it closes above a "BARRY resitance" too. I do not know if this is a rule or if it is a less strict enhancement for better odds, but ILZ is stressing this concept in post 11, scenarios 2 - 3 and 4
  • #44
  • Apr 30, 2013 5:20pm Apr 30, 2013 5:20pm
Hi Gaia68,

Its amazing how we are helping each other, thanks so much ,for pointing this out to me. I think this system sure looks good! Its time to test it. I was playing with small money(swing trading) so I never use to move stops ,but the minute we increase bet size everything changes , I might try ILZ's money management.

Anyways thanks for pointing post number 11 to me. I read it but obviously missed something
  • #45
  • Apr 30, 2013 8:02pm Apr 30, 2013 8:02pm
Quoting ashtrader
Continuation from post number 36 i.e the example below copied from pg1 of your post ,you got stopped out ,did you then reengage the trend as soon as price closed above the supertrend blue line {image}
Hey ashtrader,

I did touch on this and am planning an advanced entry post. I will speak about now.

Price has been above/below the 200 SMA I took a trade but now I'm out, how do I get back in?

If price is bouncing around between S/R, I wait for it to break and close above/below the current established S/R

Attached Image


What if price is above SMA but below the Supertrend & Supertrend is Blue or vice versa?

In this situation, I would wait until price closed above a blue supertrend before I take the trade.

Attached Image


Some advanced entry would include the following:

If price closes above/below supertrend in agreement with SMA and there is no established S&R, I take the trade.

Attached Image

SAME PIC AS ABOVE BUT SERVES THE PURPOSE

Now what if there is an established S&R. For me, there must be at least a 30 pip space between the HIGH/LOW of the candle that closes above/below supertrend & the established S&R. Why? 30 PIPS is MY magic number. That is when I can secure +3 and now have 0 risk on trade.

For example look at this pic:

Here I would definitely wait till price breaks and closes. At no point were any of the candle highs 30 PIPS or more away from resistance.

Attached Image


Now in this pic:

Attached Image


I would take the trade because it has room to run.

For those of you who need help with gauging it or not, might I suggest you head to POST # 8 & DL the ATR pips. FULL DISCLOSURE, I do not use that myself in this method. However, one could use it as tool to help gauge entry.


-ILZ
“Control, control, you must learn control!” - Yoda
  • #46
  • Apr 30, 2013 8:05pm Apr 30, 2013 8:05pm
Quoting CowLee
Hi Ilz For the GBP/USD which your have long, when did you enter that trade? Thank
Hey CowLee,

GBP/USD @ 1.52784

-ILZ
“Control, control, you must learn control!” - Yoda
  • #47
  • Apr 30, 2013 8:10pm Apr 30, 2013 8:10pm
Quoting iwan73
It is Corn H4 chart. Price break throu MA200, Super Trend is blue, but MA is still in a down trend. Is it valid Long signal? {image}
Hey iwan73

Look at the pic:

Attached Image (click to enlarge)
Click to Enlarge Name: qwqw12.gif Size: 19 KB


You would have entered at the arrow.

-ILZ
“Control, control, you must learn control!” - Yoda
  • #48
  • Apr 30, 2013 8:35pm Apr 30, 2013 8:35pm
Quoting gaia68
{quote} Thank you sir for all your explanation. This final part has particolarly enlightened my understanding of this part of your trailing stop management. I'd like also to ask: do I understand well that, when the trend evolves, you also move you stops a bigger step up, that is streight above a new S&R? For example I read in post number one "If/when price moves 30 pips in my direction, I move my sl to + 3. For every 10 pips price moves for me, I add 1 pip to BE. Once a new support/resistance line is confirmed (usually within 3 candles), I move...
Hey gaia68,

Once a new S&R is established, my stop is moved to that new line. In a long, I will subtract 3 pips from the line. In a short I will add 3 pips.

Example:

Attached Image (click to enlarge)
Click to Enlarge Name: 2013-04-30_183359.gif Size: 7 KB
“Control, control, you must learn control!” - Yoda
  • #49
  • Apr 30, 2013 8:55pm Apr 30, 2013 8:55pm
Trade Update

AUD/USD - NOTHING

EUR/JPY - NOTHING

EUR/USD - NOTHING

GBP/JPY - NOTHING

Long GBP/USD @ 1.52784. Current stop 1.54640. +185.6 secured

Short USD/CAD @ 1.01907. Current stop 1.01260. +64.7 secured

Short USD/CHF @ 0.93941. Current stop 0.93841. +10.0 secured

USD/JPY - NOTHING

Gold - NOTHING

-ILZ
“Control, control, you must learn control!” - Yoda
  • #50
  • May 1, 2013 6:06am May 1, 2013 6:06am
Hi ILZ's

I am just wondering why you havent taken a trade on the euro , but you did take USDCHF ,kind of the same trade , did you see too much congestion on the euro , or is it because too much major news is coming out on the euro
  • #51
  • May 1, 2013 8:37am May 1, 2013 8:37am
Quoting ashtrader
Hi ILZ's I am just wondering why you havent taken a trade on the euro , but you did take USDCHF ,kind of the same trade , did you see too much congestion on the euro , or is it because too much major news is coming out on the euro
yeah nice point

EUR/USD

~=

USD/CHF
  • #52
  • May 1, 2013 11:05am May 1, 2013 11:05am
An A/J sell trade just opened up on the 4 hour chart. A/J is in a major daily up trend. Would you take the trade?
  • #53
  • Edited 5:55pm May 1, 2013 5:20pm | Edited 5:55pm
Quoting ashtrader
Hi ILZ's I am just wondering why you havent taken a trade on the euro , but you did take USDCHF ,kind of the same trade , did you see too much congestion on the euro , or is it because too much major news is coming out on the euro
Hey Ashtrader,

Honestly, I have been getting chewed up on the EUR for the last 3 weeks. I lost -59 pips over that 3 week period end on 4/26. The 200 SMA was flat as a noodle.
All that congestion is just ticking me off. I should have taken the trade on 4/29 long, but decided not to. It cost me 15 pip because that move has a high point of 150+ from were I would have entered.

I still make mistakes. There is no technical reason why I did not trade it. It was a pure emotional mistake.

It happens.

-ILZ
“Control, control, you must learn control!” - Yoda
  • #54
  • May 1, 2013 5:29pm May 1, 2013 5:29pm
Quoting Syracuse
An A/J sell trade just opened up on the 4 hour chart. A/J is in a major daily up trend. Would you take the trade?
Hey Syracuse,

I do not trade AUD/JPY, I just have not added yet. As my account grows I will add more pairs after crunching data on them, but having said that, if I was trading it, I would be short yes. It actually looks pretty good.

Right now price is hitting a support point around 99.75. It is the same support line that was hit on 4/5. If it breaks and closes it should be OK till around 98.65 which is the last support line I see which was hit on 4/15.

Remember everyone, Forex fundamentals are still required in any trading method. Those S&Rs are very helpful. They should not stop you from taking a trade but take notice of them so you have a heads up of previous S&Rs.

-ILZ
“Control, control, you must learn control!” - Yoda
  • #55
  • May 1, 2013 5:49pm May 1, 2013 5:49pm
Trade Update

Short AUD/USD - 1.02815. Current Stop 1.03815.

EUR/JPY - NOTHING

EUR/USD - NOTHING

GBP/JPY - NOTHING

Long GBP/USD @ 1.52784. Current stop 1.54640. +185.6 secured

Short USD/CAD @ 1.01907. Current stop 1.01020. +88.7 secured

Short USD/CHF @ 0.93941. Current stop 0.93121. +82.0 secured

USD/JPY - NOTHING

Gold - NOTHING

-ILZ
“Control, control, you must learn control!” - Yoda
  • #56
  • May 1, 2013 6:47pm May 1, 2013 6:47pm
Hi Ilzalama,

I salute you for your honesty , on eurusd would you have got in on 30 april 2013 the big green candle ,after price has blown out of all the consolidation, or would you have just gone long 25 april 2013 or 26 apr 2013 . Am I overanalyzing my entry ,

short audusd @ 1.0298 stop at 1.0400

short gold @ 1452 stop at 1499

I was long Euro but managed to close at breakeven after I saw the price action today, and rate annoucement tomorrow . I had got in at 1.3216 and managed to close at same price, please let me know if my entry was bad

Please tell me if I have done this trades correctly or not

Thanks again
  • #57
  • Edited 11:20pm May 1, 2013 11:07pm | Edited 11:20pm
Quoting ashtrader
Hi Ilzalama, I salute you for your honesty , on eurusd would you have got in on 30 april 2013 the big green candle ,after price has blown out of all the consolidation, or would you have just gone long 25 april 2013 or 26 apr 2013 . Am I overanalyzing my entry , short audusd @ 1.0298 stop at 1.0400 short gold @ 1452 stop at 1499 I was long Euro but managed to close at breakeven after I saw the price action today, and rate annoucement tomorrow . I had got in at 1.3216 and managed to close at same price, please let me know if my entry was bad Please...
Hey ash,

Unless you are trading Oanda MT4, you will need to upload a screen shot for me to check out what you did.

If you shorted AUD/USD @ 1.0298 I would have +6 pips secured. Thats just me.

For your Gold trade Short @ 1452, where did you get in exactly?

This pic shows were i would have got in. Damn... that was a good run

Attached Image (click to enlarge)
Click to Enlarge Name: 2013-05-01_210538.png Size: 14 KB


-ILZ
“Control, control, you must learn control!” - Yoda
  • #58
  • Edited 11:41pm May 1, 2013 11:12pm | Edited 11:41pm
Trade Update

Short AUD/USD - 1.02815. Current Stop 1.02775. +4.0 Secured

EUR/JPY - NOTHING

EUR/USD - NOTHING

GBP/JPY - NOTHING

Long GBP/USD @ 1.52784. Current stop 1.54640. +185.6 secured

Short USD/CAD @ 1.01907. Current stop 1.01020. +88.7 secured

Short USD/CHF @ 0.93941. Current stop 0.93121. +82.0 secured

USD/JPY - NOTHING

Gold - NOTHING

-ILZ
“Control, control, you must learn control!” - Yoda
  • #59
  • May 2, 2013 1:01am May 2, 2013 1:01am
Quoting Syracuse
An A/J sell trade just opened up on the 4 hour chart. A/J is in a major daily up trend. Would you take the trade?
Hey Syracuse,

if you notice on that AUD/JPY trade you mentioned, price broke 99.75 and dropped a good 50 pips. That trade would now be a +7 for me. Thats why I like to wait for S&R breaks


Attached Image (click to enlarge)
Click to Enlarge Name: 2013-05-01_225957.png Size: 20 KB



-ILZ
“Control, control, you must learn control!” - Yoda
  • #60
  • May 2, 2013 3:27am May 2, 2013 3:27am
Trade Update

Short AUD/USD - 1.02815. Current Stop 1.02755. +6.0 Secured

EUR/JPY - NOTHING

EUR/USD - NOTHING

GBP/JPY - NOTHING

Long GBP/USD @ 1.52784. Current stop 1.55370. +258.6 secured

Short USD/CAD @ 1.01907. Current stop 1.01020. +88.7 secured

Short USD/CHF @ 0.93941. Current stop 0.93121. +82.0 secured

USD/JPY - NOTHING

Gold - NOTHING

-ILZ
“Control, control, you must learn control!” - Yoda
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