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    Thread: My great strategy to trade with trends on all pairs

    1. #21
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      One of the most important
      things in this system for
      trading intraday trades is
      the ADR or "Average Daily
      Range" Why is it important?
      Lets say we are looking at the EURUSD and all the
      technicals are giving you a
      clear entry signal, and you
      enter the trade, but you did
      not realise the pair has
      already given up 150 pips and as of this post the pair
      has an ADR of 145, and you
      soon find it retracing on
      you well the reason it is
      retracing on you is because
      it has pretty much given up all it has to offer for the
      day, and now it starts to
      retrace or go sideways on
      you, there are times when
      it will move more than the
      ADR and times when it will move less than the ADR. So
      it is very important to know
      what the ADR is before you
      enter the trade and find
      yourself in a situation you
      do not want to be in, the longer time frame trades
      do not really have to worry
      about this too much but
      anyone just trading the day
      really needs to pay
      attention to it. You can also set your day
      targets using this ADR as
      well, I am a pretty
      conservative trader and
      usually set my targets 20%
      less than the ADR just in case it does not make it.
      However you do not have
      too it is up to you.
      There are quite a few ADR
      indicators floating around
      out there so I would download one of them and
      use it.
      Here is an example of how
      to use it:
      Let's say I am taking a long
      entry based on a swing entry occurring in the
      EURUSD hourly chart as
      my setup chart. Let's say
      that the swing's potential
      target is 1.50, but the ADR
      falls in at about 1.4885 or so. I better play it safe, cut
      down my target
      expectations and exit the
      position at 1.4885.


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    3. #22
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      So remember using this
      trend system the ultimate
      strategy is RN(round
      numbers) and ADR. It
      seems the price gravitates
      towards those round numbers and then goes
      sidways for while and
      breaks over the top or
      bounces off of them. Some
      people really like trading
      pivot points and have good luck doing so, I like the
      invisible barrier of the
      Round numbers and I have
      traded pivot points and
      round numbers and round
      numbers in my opinion are more reliable and so I use
      them and have my charts
      setup to grid only those
      Round numbers.
      More to come!!


    4. #23
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      Remember if you have
      charts post them, and we
      can go over everything that
      this system has to offer.
      The more you use it the
      better you get at it, I really like this system it is an
      extremely solid system that
      does not require lookiing at
      and watching indicators like
      MACD RSI, CCI...etc
      however they could be incorporated if you feel the
      need to use them, I do not
      use them becaue I do not
      want to rely on them
      because they lag, actual
      price action does not lag, this is a reactive method of
      trading not predictive
      method of trading, no
      predictions just reactions
      based on price action in the
      direction of the main trend.


    5. #24
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      Default example

      Here is another chart
      showing the 1,2,3 reversal
      pattern and the entry point
      during an uptrend after the
      retracement...
      Attached Images  


    6. #25
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      Default

      Nice work clean and simple, i trade very similar only have pivot points that give me the perspective where can go the trend.


    7. #26
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      Quote Originally Posted by **-Berkut View Post
      Nice work clean and simple, i trade very similar only have pivot points that give me the perspective where can go the trend.
      Here is another 1,2,3
      formation notice the round
      number trend line and the
      MA line all in the same
      area..... Breakout, pullback
      and continuation...
      Attached Images  


    8. #27
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      So what happens if all looks
      good on the setup chart and
      everything is saying we
      have an opportunity and we
      draw our lines and then
      switch to the trigger chart and the pair stalls out? Well
      what we do then is really
      draw the lines showing S/R
      on the trigger chart, and
      then wait for the breakout
      in the direction of the trend, I like to use the
      same methodology and wait
      for the breakout, pullback
      and continuation, when the
      market is sideways that
      seems to be the easiest to trade when it breaks out,
      triangles are handled the
      same way. If it breaks out
      in the opposite direction of
      the trend then you do
      nothing...always wait for a breakout in the direction of
      the trend, wait for the BPC
      (breakout pullback and
      continuation) and then
      enter the trade, sometimes
      it will breakout with such momentum you miss the
      trade, but it comes back,
      some people trade the
      breakouts with a lot of
      success but I like to wait
      for the BPC to happen before I enter. Sometimes it will get into a
      range during a trend and
      you handle this the same
      way, as soon as it breaks
      out of the range wait for
      the BPC and enter the trade (Unless you like to
      range trade of course). All
      the basic patterns still hold
      true for this system as
      other systems like the
      Head N Shoulders, double tops and bottoms...etc Just
      be sure to set the stop loss
      behind the event that got
      you in the trade.


    9. #28
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      Default example

      Here is where I would place
      my stop loss, even though I
      am beyond the event that
      got me in the trade, the
      round number will act as a
      resistance and in case it over shoots it a little I
      place it a few pips above
      that round number...
      Attached Images  


    10. #29
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      Like I say the system is
      incredibly simple and
      extremely effective and it
      always keeps your risks low
      because you are looking for
      low risk high probabilty trades with very little
      drawdown in case things do
      go the wrong way and there
      are times when they will.
      But there will always be
      very little at risk. And even if the market does back up
      on you there will probabaly
      be a second chance at the
      same setup. Always make
      sure you know where those
      round numbers are because they are HUGE S/R lines.
      And know the ADR if
      intraday trading to make
      sure you have enough room
      for the trade.


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    12. #30
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      Thank you so much for sharing us so many strategy for us to use in foex trade.I think I will test your strategy here to help me build a trading system of my own.


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