FX/Pullback-Breakout Strategies

[butterfly100]

any good idea on how to trade on a pullback or breakout going against the trend for a very limited short period?

Cheers
Butterfly100

 

[jiggly]

any good idea on how to trade on a pullback or breakout going against the trend for a very limited short period?

Cheers
Butterfly100

no, there are no good ideas on how to do this, because they are not good ideas.

but if you must, being very quick can help can help you limited period of time.

 

[Dmond]

any good idea on how to trade on a pullback or breakout going against the trend for a very limited short period?

Cheers
Butterfly100

Watch what price has done before for the particular setup up you have in mind, time and time again, then work out for yourself the best way for you to catch that particular move. Unless you can spot that same repetitive pattern over and over again I wouldn't try to build a strategy around it.

 

[thierry911]

I agree. Countertrend are very difficult to develop and most of the time as soon as you add any S/L to it to preserve your capital... the return is affected. I do have one which I run with my two other trend following.. It helps to smooth the drawdown and I run it without any S/L. It stays in the market between one and 5 days. I have run it for 6 months now.. and I have a a 5.5% drawdown but totally uncorelated to the other 2.

 

[TheBramble]

any good idea on how to trade on a pullback or breakout going against the trend for a very limited short period?

What do you mean? Looking for pullbacks in an uptrend to get Long at a better price, or trading contra trend generally? If the former, yes. If the latter, also yes, but you need to be specific which TFs you're talking about.

 

[thierry911]

I use both... the first one in the trend following systems but I always have another level to buy in case it does not have any pullback at all. I do not want to miss the trend.

The other strat will trade when there is a certain move in a certain time whatever the market is in a trend or in congestion it will trade. Of course when the market is in a trend it usually loose money.

 

[butterfly100]

What do you mean? Looking for pullbacks in an uptrend to get Long at a better price, or trading contra trend generally? If the former, yes. If the latter, also yes, but you need to be specific which TFs you're talking about.

sorry, im new, what is TFs?

 

[price777999]

some good info here on breakouts

http://www.youtube.com/watch?hl=en&v=3gN-6D8nH0E&gl=US

http://www.youtube.com/watch?v=iXnhCCbZxNA&feature=related

 

[disi]

no, there are no good ideas on how to do this, because they are not good ideas.

but if you must, being very quick can help can help you limited period of time.

Why not good ideas? With this kind of violatily that makes 70% retracement 'normal at FX market, pull backs are actually very good.

 

[butterfly100]

dis, if you are not quick, you might ended up in the worng side of the market if the breakout/pullback strategy is not part of a bigger strategy....what do you think?

 

[disi]

dis, if you are not quick, you might ended up in the worng side of the market if the breakout/pullback strategy is not part of a bigger strategy....what do you think?

yes, it should be part of bigger strategy. Personally I find pullbacks better but that is probably matter of my trading style. I mean 60% retracements are sometimes 'normal' on forex market - so if we have occasion why not use it? My opinion - no that I recommend it as any special technique. It's just I think pullback maybe be source of good setups if you know how to do it. If you have your stop in place(you know how much you risk) then even if you are wrong nothing bad will happen.

 

[one2watch]

I have a good forex scalping strategy that I would like to share with you; I only trade cable or eur dollar. it needs a lot of patiance though.
open up 15 min chart set your stochastic to 14/3/3. Wait for the price to break out of range/consolidation first for bullish or bearish move than wait for price to pull back and stoch to be below 15 for buy signal and above 85 for sell signal and pull the trigger for your entry put your stop just below most recent support or just above the resistance target usually 1.5 or 2 times the pips risked. I got this tip at Forex Courses

 

[disi]

I have a good forex scalping strategy that I would like to share with you; I only trade cable or eur dollar. it needs a lot of patiance though.
open up 15 min chart set your stochastic to 14/3/3. Wait for the price to break out of range/consolidation first for bullish or bearish move than wait for price to pull back and stoch to be below 15 for buy signal and above 85 for sell signal and pull the trigger for your entry put your stop just below most recent support or just above the resistance target usually 1.5 or 2 times the pips risked. I got this tip at Forex Courses

How much money you have already earned with this strategy?

 

[butterfly100]

no, there are no good ideas on how to do this, because they are not good ideas.

but if you must, being very quick can help can help you limited period of time.

they might not be good idea, but I am making money, 400 points in one day..I don't bet much money, as I am newbie, but it seems it works.....is this only beginner's luck?