Forex Tradingwithrayner

[superman2006]

Hi Superman,

Your language tone is pretty funny i must say.

And yes Tom is absolutely right, no 2 traders can trade exactly the same.

We are all made up of different psychological makeup, way we think, react, and behave are simply different.

However the core principles of trading must be there to trade profitably.
Cutting your losses, riding profits, managing your position size etc.

Rayner

Hi Rayner,

My ang mo sucks, sorry about that.
Too use to in EDMW. So, sentence is more in edmw ways.

Please visit edmw, if you free lah....haha

Sexpereince the power of edmwer!!! You can ask any question down there. And yes, in edmw. There are lots of various expert in certain topics (Lifestyle, women, Military, health..and many more....)

 

[shawnwong]

I m trading pin bar PA too. Have a couple of things to share.

a) Pin bar PA coupled with support and resistance level should work better right? After all, at these levels 3 possible things can happen. Either the price breaks thru, rebound or stall. So if it happens to rebound from down trend and you enter a buy trade at this level, everything is good. However, in real situation it's not so. At least for my case. Adding S&R into my system makes thing worse.

b) What makes a pin bar? The length of wick, nose, body ,etc is important. Its different for different currency pairs. It is very difficult to identify visually. So its good to use program on platform like MT4 to identify the pin bar.

So how to pick those high probability trades from tons of pin bar that formed daily? Once you determine the kind of pin bar you wanna trade, stick to it. Only pick trades in general direction. Example if general direction is up, only pick buy trade and vice versa.

In general, test what you wanna do on a MT4 platform. Even a slight change of stop and profit limit may result in very different results. When doing backtesting with past data, double check what you have done and make sure you don't manipulate the data to fit your system, making it seems like you have found the "holy grail" ...

 

[tradingwithrayner]

I m trading pin bar PA too. Have a couple of things to share.

a) Pin bar PA coupled with support and resistance level should work better right? After all, at these levels 3 possible things can happen. Either the price breaks thru, rebound or stall. So if it happens to rebound from down trend and you enter a buy trade at this level, everything is good. However, in real situation it's not so. At least for my case. Adding S&R into my system makes thing worse.

b) What makes a pin bar? The length of wick, nose, body ,etc is important. Its different for different currency pairs. It is very difficult to identify visually. So its good to use program on platform like MT4 to identify the pin bar.

So how to pick those high probability trades from tons of pin bar that formed daily? Once you determine the kind of pin bar you wanna trade, stick to it. Only pick trades in general direction. Example if general direction is up, only pick buy trade and vice versa.

In general, test what you wanna do on a MT4 platform. Even a slight change of stop and profit limit may result in very different results. When doing backtesting with past data, double check what you have done and make sure you don't manipulate the data to fit your system, making it seems like you have found the "holy grail" ...

Hi Shawn,

Thank you for sharing. Those are valid points and i couldn't agree more with you.

And it is a first to see a trader not take support resistance into consideration. There's no right or wrong but finding something that fits you, well done!

So you simply trade pinbars(with the size you like) in the direction of the trend?

Rayner

 

[tradingwithrayner]

Hi Rayner,

My ang mo sucks, sorry about that.
Too use to in EDMW. So, sentence is more in edmw ways.

Please visit edmw, if you free lah....haha

Sexpereince the power of edmwer!!! You can ask any question down there. And yes, in edmw. There are lots of various expert in certain topics (Lifestyle, women, Military, health..and many more....)

Hey Superman,

Sure i'll pop by and check it out, sounds interesting!

Rayner

 

[shawnwong]

Hi Shawn,

Thank you for sharing. Those are valid points and i couldn't agree more with you.

And it is a first to see a trader not take support resistance into consideration. There's no right or wrong but finding something that fits you, well done!

So you simply trade pinbars(with the size you like) in the direction of the trend?

Rayner

Hi Rayner,

Yes, as you said the core principle is still true. General trend may be subjective based on one trading time frame. I trade the 15min chart but my position usually last a day or days so daily chart is my general trend setting.

I look at a few stats to determine if a system is good.
Wining % - Of course by itself it is meaningless. It also depends on your stop & profit. You can have 90% winning but still losing money.

Profit/Gain % - Example out of $100 the system can gain, its profit only $10 vs a system can profit $40 out of $100.

Consecutive wins & losses - This has direct implication to the psychological aspect of trading. A profitable system but on worse case has a consec. losses of 10 times is not easy to trade vs one that has consec. losses of 5 times.

If you are already using MT4/MT5 platform and if your trading system/method can be coded/programmed, use the power of computer to help u identify your trade. The platform can be linked to your mobile by installing MT4/MT5 app (android). Example under notifications setting, you can enter the app id and the platform will send notification to your mobile like sms. I used it to alert me of trade opportunity. In this way, you don't have to sit in front of the computer all day and you can monitor multiple pairs at once ...

 

[superman2006]

Hey Superman,

Sure i'll pop by and check it out, sounds interesting!

Rayner

I suggest you don't use your this account. Create a clone first. As You will easily get CSI, if thing goes wrong. People's down in edmw some are not friendly as here one. Just take note.

Sent from Superman2006 using GAGT

 

[superman2006]

Hi Rayner,

Yes, as you said the core principle is still true. General trend may be subjective based on one trading time frame. I trade the 15min chart but my position usually last a day or days so daily chart is my general trend setting.

I look at a few stats to determine if a system is good.
Wining % - Of course by itself it is meaningless. It also depends on your stop & profit. You can have 90% winning but still losing money.

Profit/Gain % - Example out of $100 the system can gain, its profit only $10 vs a system can profit $40 out of $100.

Consecutive wins & losses - This has direct implication to the psychological aspect of trading. A profitable system but on worse case has a consec. losses of 10 times is not easy to trade vs one that has consec. losses of 5 times.

If you are already using MT4/MT5 platform and if your trading system/method can be coded/programmed, use the power of computer to help u identify your trade. The platform can be linked to your mobile by installing MT4/MT5 app (android). Example under notifications setting, you can enter the app id and the platform will send notification to your mobile like sms. I used it to alert me of trade opportunity. In this way, you don't have to sit in front of the computer all day and you can monitor multiple pairs at once ...

Your mean MT4 EA (Expert adviser )? Risking leh...sometime the EA would not work if thing goes wrong (bug). Any computing automation is not 100%. If you are trading huge lots sides? Better use manual, safer. Unless you have those banking, investment firm kind of reliable system. If not? Don't think about it...

Yes, spending time in PC and wait can be wasting time. Well. .no choice. We are risking real cash! For some is ok, most can't.

I do also occasionally download some good EA and trade ( especially news EA). Before that, must back test. Mmmm..... not bad. Still can make $. But not consistent. Play play still ok, make living on EA? No way....



Sent from Superman2006 using GAGT

 

[shawnwong]

Your mean MT4 EA (Expert adviser )? Risking leh...sometime the EA would not work if thing goes wrong (bug). Any computing automation is not 100%. If you are trading huge lots sides? Better use manual, safer. Unless you have those banking, investment firm kind of reliable system. If not? Don't think about it...

Yes, spending time in PC and wait can be wasting time. Well. .no choice. We are risking real cash! For some is ok, most can't.

I do also occasionally download some good EA and trade ( especially news EA). Before that, must back test. Mmmm..... not bad. Still can make $. But not consistent. Play play still ok, make living on EA? No way....



Sent from Superman2006 using GAGT

I use more of indicator than EA. It just alert me of trade but I still open my position manually. Not that I don't trust it (auto-trade) but I still wanna feel 'involve' ...

 

[superman2006]

I use more of indicator than EA. It just alert me of trade but I still open my position manually. Not that I don't trust it (auto-trade) but I still wanna feel 'involve' ...

I see......sorry for the miss understanding.

Sent from Superman2006 using GAGT

 

[tradingwithrayner]

Hi Rayner,

Yes, as you said the core principle is still true. General trend may be subjective based on one trading time frame. I trade the 15min chart but my position usually last a day or days so daily chart is my general trend setting.

I look at a few stats to determine if a system is good.
Wining % - Of course by itself it is meaningless. It also depends on your stop & profit. You can have 90% winning but still losing money.

Profit/Gain % - Example out of $100 the system can gain, its profit only $10 vs a system can profit $40 out of $100.

Consecutive wins & losses - This has direct implication to the psychological aspect of trading. A profitable system but on worse case has a consec. losses of 10 times is not easy to trade vs one that has consec. losses of 5 times.

If you are already using MT4/MT5 platform and if your trading system/method can be coded/programmed, use the power of computer to help u identify your trade. The platform can be linked to your mobile by installing MT4/MT5 app (android). Example under notifications setting, you can enter the app id and the platform will send notification to your mobile like sms. I used it to alert me of trade opportunity. In this way, you don't have to sit in front of the computer all day and you can monitor multiple pairs at once ...

Ah thank you for sharing Shawn.

I wish my trading approach can be quantified, but there are still elements of discretion that comes with it. Perhaps if i really sit down and think through, it can be quantified and ultimately programmed.

Rayner

 

[shawnwong]

I see......sorry for the miss understanding.

Sent from Superman2006 using GAGT

No offense taken.

 

[tradingwithrayner]

Trading Opportunities Across The Financial Markets

 

[superman2006]

My view on this video is...

Trend: Is up.
On the right most of the chart is a double bottom and just breakout. The breakout candle seem large enough to justify. Mmmm..if I will going to take the trade? Just wait for the retesting first? And look for some candlestick pattern? For indicators (Stochastic) I may look for convergence / divergence to enhance my odd.

If I not wrong? This something do will structure trends trading.

Take profit targets will be on the last higher high.

Yup...that all sexpert.

Sent from Superman2006 using GAGT

 

[tradingwithrayner]

My view on this video is...

Trend: Is up.
On the right most of the chart is a double bottom and just breakout. The breakout candle seem large enough to justify. Mmmm..if I will going to take the trade? Just wait for the retesting first? And look for some candlestick pattern? For indicators (Stochastic) I may look for convergence / divergence to enhance my odd.

If I not wrong? This something do will structure trends trading.

Take profit targets will be on the last higher high.

Yup...that all sexpert.

Sent from Superman2006 using GAGT

Hey superman,

Thank you for sharing. I believe you're talking about the image of my video in particular.

For a trend follower like me, i stay out of such markets as it's very chopped at the moment.

There are nicer trending ones right now like bund, eurjpy that i would prefer.

But good to see your strategy to trade such choppy range markets!

And i'm no sexpert, just sharing what works for me

Rayner

 

[superman2006]

Hey superman,

Thank you for sharing. I believe you're talking about the image of my video in particular.

For a trend follower like me, i stay out of such markets as it's very chopped at the moment.

There are nicer trending ones right now like bund, eurjpy that i would prefer.

But good to see your strategy to trade such choppy range markets!

And i'm no sexpert, just sharing what works for me

Rayner

Yup correct. Refer to your that image of video.

No problem Rayner. I more towards short terms trades with purview of long term trends.

Thank.

Sent from Superman2006 using GAGT

 

[tradingwithrayner]

How Do You Tell When A Trend May Be Ending?

The trend is your friend till it ends. But the problem is when does it end?

Many times I thought an uptrend is over only to see price break new highs shortly.

That’s when I realize that no one can predict when a trend will end. However it is possible to look for signs of when a trend may be ending. [continue reading]

Rayner

 

[tradingwithrayner]

NFP Is Over, Now What?

On Friday we saw bullish price action across the majors due to bullish reports on NFP.

With the bullish bias on the dollar, here's my take on Usdjpy, Gold and Crude Oil in the coming week.

I hope you’ve enjoyed my weekly market analysis! As always, comments are welcomed and encouraged. Cheers!

Rayner

 

[tradingwithrayner]

My 8 Losing Trades In A Row

I’m not here to paint a rosy picture of trend following, but rather to show you the reality of it. As a trend follower, I accept the fact that I have a low winning percentage.

Thus it is no surprise to face a losing streak which is happening to me right now. [continue reading]

Rayner

 

[Perisher]

Like the fact that you are not afraid to post losses and 8 in a row as well. All the best, I will keep watching.

 

[tradingwithrayner]

Like the fact that you are not afraid to post losses and 8 in a row as well. All the best, I will keep watching.

Hi Perisher,

I have nothing to hide and that includes my losses. It's part and parcel of trading, thus a good risk management must be in place to handle the inevitable.

Thanks for dropping by!

Rayner