Trading the Trend - 30 min

This is a discussion on Trading the Trend - 30 min within the Trading Journals forums, part of the Reception category; Tally +179 pips Open Trades Trade 16 Long GBPUSD 1.9817 SL 1.9905 Trade 17 Long EURUSD 1.3469 SL 1.3504 Trade ...

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Old Jun 5, 2007, 9:06pm   #61
 
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fxwinner22 started this thread Tally +179 pips

Open Trades

Trade 16 Long GBPUSD 1.9817 SL 1.9905
Trade 17 Long EURUSD 1.3469 SL 1.3504
Trade 20 Long AUDCAD 0.8885 SL 0.8835

anything in bold is a change
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Old Jun 6, 2007, 7:34am   #62
 
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fxwinner22 started this thread Tally +179 pips

Open Trades

Trade 16 Long GBPUSD 1.9817 SL 1.9922
Trade 17 Long EURUSD 1.3469 SL 1.3508
Trade 20 Long AUDCAD 0.8885 SL 0.8885

anything in bold is a change
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Old Jun 6, 2007, 7:45am   #63
 
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fxwinner22 started this thread Tally +179 pips

Open Trades

Trade 16 Long GBPUSD 1.9817 SL 1.9922
Trade 17 Long EURUSD 1.3469 SL 1.3508
Trade 20 Long AUDCAD 0.8885 SL 0.8885
Trade 21 Long EURJPY 164.30 SL 163.80

anything in bold is a change
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Old Jun 6, 2007, 9:06am   #64
 
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fxwinner,

At the conclusion of this It would be interesting to see how well each ccy pair did to see if all your profits were gained through a small subset of the pairs you traded.

Also, are you trading all ccy pairs the same size (I would hope not)?
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Old Jun 6, 2007, 9:37am   #65
 
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fxwinner22 started this thread Trade 21 Long EURJPY CLOSED ON STOP -50 PIPS
Trade 16 Long GBPUSD CLOSED ON STOP +105 PIPS

Tally +234 pips

Open Trades

Trade 17 Long EURUSD 1.3469 SL 1.3508
Trade 20 Long AUDCAD 0.8885 SL 0.8885
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Old Jun 6, 2007, 9:44am   #66
 
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Quote:
Originally Posted by Hoggums View Post
fxwinner,

At the conclusion of this It would be interesting to see how well each ccy pair did to see if all your profits were gained through a small subset of the pairs you traded.

Also, are you trading all ccy pairs the same size (I would hope not)?
I have some rules hoggums.

1. never have more than 2-3 trades of the same currency - ie, if i have gbpjpy and audjpy then eurjpy is not an option unless its really really attractive and then after that deffo no more jpy pairs

2. never have more than 2-3 trades that are not locked in to profit. the 2-3 all depends on the leverage used. If i use 5:1 per trade then only 2 and if 3:1 each trade then max is 3. when one goes into profit it frees up a potential new trade and the only thing to do with the runners is trail the stop (which i use 5X atr)

as for the same size, yes I am. I'd like to be able to scale in as a trade gets bigger but havent yet found a comfortable way of doing it.
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Old Jun 6, 2007, 10:33am   #67
 
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fxwinner22 started this thread Tally +234 pips

Open Trades

Trade 17 Long EURUSD 1.3469 SL 1.3508
Trade 20 Long AUDCAD 0.8885 SL 0.8885
Trade 22 Short EURCAD 1.4318 SL 1.4410

bold denotes a change
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Old Jun 6, 2007, 11:31am   #68
 
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fxwinner22 started this thread Trade 22 Short EURCAD closed manually and reversed -40
Tally +194 pips

Open Trades

Trade 17 Long EURUSD 1.3469 SL 1.3508
Trade 20 Long AUDCAD 0.8885 SL 0.8885
Trade 23 Long EURCAD 1.4358 SL 1.4290

bold denotes a change

I'm starting to get that horrible intraday trading feeling. ... this is why i went to 4 hour plays in the first place.

best be careful now.
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Old Jun 6, 2007, 12:56pm   #69
 
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fxwinner22 started this thread Trade 17 Long EURUSD closed on stop +39

Tally +233 pips

Open Trades

Trade 20 Long AUDCAD 0.8885 SL 0.8885
Trade 23 Long EURCAD 1.4358 SL 1.4287
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Old Jun 6, 2007, 5:15pm   #70
 
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fxwinner22 started this thread sorry, been out for the afternoon golfing

Trade 20 Long AUDCAD closed +1 pip
Trade 23 Long EURCAD closed -71 pips

bummer!

Tally +162 pips

Open Trades

NONE
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Old Jun 7, 2007, 9:51am   #71
 
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fxwinner22 started this thread Hi all,

Ive decided to call an end to the experiment.

Clearly 30 min trend following is just as successful as longer time trend following if done correctly.

However the question comes to mind "do i want to do this" and in short the answer is no. Having done my time on the smaller timeframe charts I don't think i want to go back to them on a permanent basis. The longer timeframes don't get stopped out on the big runners like AUDUSD for example, they give me more leisure time and larger profits.

True, the losers are bigger too but the winners are in proportion also.

I'm not throwing away what i have done here though. what this has tought me is that wherever a trend exists - wether it's on the 30 minute or the weekly then there are trades to be taken. My forst question when looking at a chart is always 'is this pair trending' - ifit isnt trending on the 4 hour then is it on the 1 or the 30 min or the daily etc. if it's trending somewhere then there is a potential trade. It all depends on the time and dedication you want to give to that trade as to the timeframe you will take it on.

for me, that time and dedication happens on the four hour chart.

I'm very interested in sharing strategies with fellow longer time frame traders. Maybe we should start a new thread?

Thank you for reading those who have. I wish you luck.
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Old Jun 13, 2007, 8:32pm   #72
 
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thanks for all your updates. being a newbie to the board, i've only just read through all of them in one go tonight. however, one significant concern I have is that you didn't mention the important data: how you got on........at golf

good luck going back to 4 hours, i occasionally look at very short time frames but usually soon go running back like a scalded cat to trade off dailies.
i use 30 minutes to check, not necessarily to confirm an action but sometimes to prevent an action - to alert me in case any problems are building up around the corner.

i find, with correct risk management, trading off dailies leaves me a lot more time for the important things in life such as golf, go-go bars etc
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Old Jun 15, 2007, 5:44pm   #73
 
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fxwinner22 started this thread brilliant!

actually ive done some further development on the 30 min trades that's increased the take and the hit rate - funny thing is though ive now transposed that onto the four hour and daily charts - it's improved them also lol.

Thanks for your well wishes.

Oh, and i lost by seven strokes
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