Price Action Swing Trading - The PAST Strategy

[hallettcove]

Stuart 1984
Thanks for the welcome. Nice to hear that your testing results are good to date. Very encouraging.

 

[hallettcove]

How Many Pairs

Stuart1984

How many pairs do you watch for this strategy?

 

[stuart1984]

Stuart1984

How many pairs do you watch for this strategy?

Hi Halletcove

I have a profile setup that has 28 pairs on the monthly and Weekly charts however I only really focus on the majors and the major crosses unless I see something that is really appealing setup wise.

The main pairs I am looking at each week are:

EURUSD
GBPUSD
AUDUSD
NZDUSD
USDJPY
EURGBP
EURCAD
EURAUD
GBPCAD
GBPAUD
AUDCAD
AUDJPY
GBPJPY
EURJPY
XAUUSD

The beauty of this strategy is that you can watch alot of pairs, it just takes a quick scan on a sunday afternoon.

Stuart

 

[stuart1984]

Hi guys

USDCAD is approaching the retest area I am interested in. I will be watching the price action in this area for a sign to go long, Ideally be looking for a PB touch of the trendline or an engulf candle of the trendline.



Stuart

 

[stuart1984]

Hi Guys

I have just finished doing some testing on the AUDUSD for the period Jan 202 to End June 2014. I started with £10,000 and went through the weekly charts until I got a signal and then went down to the lower timeframes to draw my trendlines for exits just as I would do in real time. I was defensive with SL's and moved to BE as soon as price moved an equal distance to my original stop loss. Once in a trade,I scaled out of it and trailed the stop loss down behind major weekly swings. I did not take any signals in the opposite direction to the original trades but did try and add to winning positions throughout. I risked roughly 1% per trade but reduced this to 0.5% for positions that I added. The results are as follows:

Starting Balance £10,000 GBP
finishing Balance £16,102

Return: 61%
Max Profit Trade £3,143
Max Losing trade: £204

Total number of trades: 17
Winning Trades: 5
Losing Trades: 11 (4 of these were very very small, didnt quite move my stop to BE exactly)
BE Trades : 1

Profit Factor: 5.72

It is important to note that these would have been my results, we are all different, I probably would have traded it slightly different too in real time however I think we can see from this that there are opportunities with this strategy to make quite a bit of money. Remember this was only one pair over the course of nearly 18 months.

I will continue to test this strategy with different pairs over different periods of time but thought some of you may be interested in seeing some positive results.

Happy trading

Stuart

 

[stuart1984]

Clarification:

The starting balance was ten thousand pounds GBP and the finishing balance was sixteen thousand one hundred and two pounds.

Not sure if that was my fat fingers or dodgy keyboard 🙂

Stuart

 

[stuart1984]

Hi guys

I have entered long USDCAD and short AUDUSD here are the charts, first up is USDCAD, I ttok the long on the break of the orange trendline. Not the greatest trendline but I thought I would give it a shot:



AUDUSD - I took this short on the break of the upper blue trendline in the anticipation that the lower trendline would also break:



As always, I will be looking to get to BE on both trades as soon as I see the opportunity.

Happy TRading

Stuart

 

[hallettcove]

First Trade

Hi This is my first trade with this strategy. Gbpjpy long










Don't know why this has come out as a thumbnail but if you click on it it increases the size

 

[hallettcove]

Mistake

I made a mistake with the Gbpjpy trade yesterday. I hadn't pulled back so it didn't qualify as a trade. The reason i took it was because the weekly candle was a bullish engulf and yesterday, price had broken through the trend line. Maybe not a bad trade but not following the rules.

 

[stuart1984]

I made a mistake with the Gbpjpy trade yesterday. I hadn't pulled back so it didn't qualify as a trade. The reason i took it was because the weekly candle was a bullish engulf and yesterday, price had broken through the trend line. Maybe not a bad trade but not following the rules.

Hi Halletcove

The important thing here is you recognised the mistake. Regardless of the lack of higher timeframe signal, your entry on the short timeframe looked good.

Stuart

 

[stuart1984]

I got stopped out for a loss on AUDUSD but will look to reenter on a retest ofthe lower trndline from my earlier chart

My USDCAD trade is working ok so far. SL is at BE so it is now time for the market to decide what is going to happen.

Stuart

 

[stuart1984]

I have taken another short entry on EURNOK.



Stuart

 

[hallettcove]

Spread

I don't understand the spread on eurnok. On my Oanda chart it is around 240. Which presumably means 24???

 

[Abercrombie]

Greetings All,

I went long USD/CAD and have moved the SL to BE.

I also went long AUD/CAD, but was stopped out at BE. I will be looking for another entry at retest of the TL.

Thanks,
A

 

[Abercrombie]

halletcove,
I was also perplexed at first by the spread on EUR/NOK. The spread is large as far as number of pips, but so is the pip range of each candle. My Oanda fx platform currently shows the spread for EUR/NOK as 28.4 pips, which seems incredibly high. But the average true range for the last ten hourly candles is 89 pips.

In comparison, AUD/CAD spread is 2 pips while the ATR(10) for 1H is 14 pips. So it is somewhat relative.

 

[Abercrombie]

I would have posted charts, but the TradingView charts are having issues right now. I just started using their charts and have had the "Internal Server Error" message three times in the last week and a half. If I had their paid subscription, I would be asking for my money back.

Does anybody have any recommendations for online forex charts?

Thanks.

 

[stuart1984]

halletcove,
I was also perplexed at first by the spread on EUR/NOK. The spread is large as far as number of pips, but so is the pip range of each candle. My Oanda fx platform currently shows the spread for EUR/NOK as 28.4 pips, which seems incredibly high. But the average true range for the last ten hourly candles is 89 pips.

In comparison, AUD/CAD spread is 2 pips while the ATR(10) for 1H is 14 pips. So it is somewhat relative.

Hi Guys

Here is how I understand the spread on EURNOK. There is a much greater difference between the value of 1 Euro and the value of 1 NOK compared to something like the EURUSD. For example the EURNOK price just now is: 8.3843 so for every 1.00 EUR you have, you would get 8.3843 NOK this means that the spread looks much larger than it actually is as a direct comparison to the spread on a major pair.

You will find that the cost per pip, is much much lower than the cost per pip on the EURUSD, probably about ten times lower, therefore when calculating risk it is important to get information from your broker about what the pip cost is of any position size you might be trading.

The spread will be wider on the EURNOK than the EURUSD because it is not as heavily traded. If your broker has variable spreads, you will probably also notice that the spread changes quite a bit during the course of the day.

I hope this makes sense and helps.

Stuart

 

[stuart1984]

I would have posted charts, but the TradingView charts are having issues right now. I just started using their charts and have had the "Internal Server Error" message three times in the last week and a half. If I had their paid subscription, I would be asking for my money back.

Does anybody have any recommendations for online forex charts?

Thanks.

Netdania are ok

Stuart

 

[stuart1984]

Trade update

EURNOK is now at BE.

USDCAD was stopped out at BE but I have rentered on the near retest of the trendline, see chart:



Stuart

 

[anukrh]

Hi Friends!

I also faced same issue with Tradingview charts but later its ok.
ChartIQ also very good for fx charting, just try for few days its free subscription later it will ask for paid service 🙂
But i like TRADINGVIEW charting.


Anu