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; for those watching this here is the reason for the thread. I have a trend following method which i generally ...

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Old May 24, 2007, 2:21pm   #1
 
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Trading the Trend - 30 min

for those watching this here is the reason for the thread.

I have a trend following method which i generally use on 4hr and daily timeframes.

Im running an experiment to transpose this to the 30 min timeframe and want to use this journal to track progress.

I have nothing to prove to anyone, just testing a system and recording results.

I'll update as close as possible to trades closing or being taken.

Trade 1
23/5/07 11:03 BST
long GBPAUD 2.4036 sl currently 2.4105 i know this trade is already running and some will say 'anyone can make hindsight calls' but as i said ive nothing to prove to you andthe trade is part of the test so if you dont like it then dont read.

Trade 2

24/05/07 12:32 BST

Long GBPJPY 241.30 SL 240.60 not too happy on this one as price did not hit the optimum buy point, however impulse bar was in existence so trade taken as per rules.
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Old May 24, 2007, 2:52pm   #2
 
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I wish you the best of luck!
I myself have transposed a 4-hr rule-set to 30-mins, and have gone from goodish-performance to break-even.

my observations:
1:the 4-hr allow you take a position and ride out overnight events, the 30-mins will not.
2:the 4-hrs rides out the narrow ranges pre-Europe opens, the 30-mins may end up giving you false signals. (I am looking at ignoring any signals if the range falls below 30 pips for 4 consecutive hrs, and then trade them as break-outs, as any indicator becomes worthless under those conditions)
3: if your rules now require daily observations, try to avoid the "if I am clever, I can pre-empt the next turn", as your mind may become transfixed with every chuffin' move.
4: have however, found that still sticking to 4-hr charts, the 30-mins can catch pullbacks to the 4-hr moves)

I dont know what your rules are, but dont get too optimistic about catching more of the smaller moves, some (most) of them will be noise.

best of luck, esp to a fellow self-confessed trend-follower.
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Old May 24, 2007, 2:57pm   #3
 
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fxwinner22 started this thread much appreciated Trendie, i do understand trend following so pre-empting will not be a problem - im a trend follower not a trend maker

time will tell wether this is the gold stuff or the brown stuff. If the month comes out well then i'll look to increase the stakes.
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Old May 24, 2007, 4:35pm   #4
 
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fxwinner22 started this thread Trade 3
24/5/07 15:30 BST

Short EURUSD 1.3424 SL 1.3467
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Old May 24, 2007, 6:50pm   #5
 
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fxwinner22 started this thread Trade 1 GBPAUD 2.4036

24/5/07 17:50 BST stop loss moved to 2.4141

Trade2 GBPJPY Noticed stop slightly too close, moved to 240.55

still not in love with the GBPUSD tho but trade is running so what the heck

Last edited by fxwinner22; May 24, 2007 at 6:55pm.
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Old May 24, 2007, 11:32pm   #6
 
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fxwinner22 started this thread Trade 1 GBPAUD 2.4036

24/5/07 22:30 BST stop loss moved to 2.4178
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Old May 25, 2007, 7:51am   #7
 
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fxwinner22 started this thread Trade2 GBPJPY stopped out overnight -75 pips
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Old May 25, 2007, 8:30am   #8
 
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fxwinner22 started this thread eurusd closed at 1.3424 -10 pips

not happy with that one, might be wrong but 4 hour and daily well set for a bounce up

current tally -85 pips
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Old May 25, 2007, 9:23am   #9
 
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fxwinner22 started this thread Trade 4
25/5/07 08:21 BST

Short AUDCHF 1.0055 SL 1.0105
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Old May 25, 2007, 9:51am   #10
 
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fxwinner22 started this thread Trade 5
25/5/07 08:48 BST

Short USDCHF 1.2264 SL 1.2318

Now this is an interesting one. Based on a 30 min entry but looking to the daily shows a very good risk vs return profile.

Im already starting to feel that it may not be possible just to take the single timeframe into account for the decision. Its almost like i have to 'unlearn' looking at multiple timeframes.

time will tell i guess
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