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Don't get sucked into trading the trend when the moves are not your friend.

Page: 1 2 >
Aug 20, 2011 01:00 pm
#1
leebut User

Posts: 158
Member since: 16/07/2011

The trend is your friend, except when it's not.

I started trading gold this week for the first time. I was doing well on the trades going with the trend  throughout the week. As it was my first time I was setting stops and limits. Unfortunately, I got sucked in to placing more trades on Friday afternoon, which resulted in me losing the entire week's gains in less than 2 hours.

I think the problem was that I was trading for more gains (the trend is your friend, right?),  but my mind was not on the job at hand. Each loss I got, I placed another new trade to get the money back, which of course never happened. The trend had left me high and dry.

I had simply neglected or understimated the counter trend bears. There is an enemy in the trend.

Aug 21, 2011 05:08 am
#2
widhie75 User

Posts: 118
Member since: 05/12/2010

soetime its funny when we talk about trend.......every TF have own trend....let say in TF D1 trend is up, H1 trend is down, M5 trend is up.....its really confusing right?.....which one we should trust?

well, so Trend is really our friend, but if we choose wrong friend,,,,,,we will get sufferred [aww]

http://www.fxstat.com/widget/link?t=wide&c=3&s=8617&o1=growth&o2=drawdown&o3=profitfactor

Aug 21, 2011 02:09 pm
#3
leebut User

Posts: 158
Member since: 16/07/2011

There are many wrong friends. I had a week of good as gold friends and a day with a crowd of cruel ones that killed the good ones.

The key must be getting them when they agree with each other, a harmonious chorus of bulls or bears. I think perhaps getting H1 and H4 lined up in the direction of the daily might work.

Aug 28, 2011 04:51 pm
#4
ironical User

Posts: 734
Member since: 22/04/2011

Originally posted by widhie75

soetime its funny when we talk about trend.......every TF have own trend....let say in TF D1 trend is up, H1 trend is down, M5 trend is up.....its really confusing right?.....which one we should trust?

well, so Trend is really our friend, but if we choose wrong friend,,,,,,we will get sufferred <img alt=" />



 

Thats the truth. Very true. Its the matter of choosing friend. At the same time it is very hard to analyze the trends correctly. Sometimes you got them and most of the times you dont.

The good or ill of a man lies within his own will. – Epictetus

Apr 25, 2012 06:04 pm
#5
mrinalini User

Posts: 177
Member since: 12/04/2012

It is important for a trader to trade with the trend and he uses different tools or technical indicators to trade with the trend, It is said that trend is the best friend and always trade along with it and never go against it .

Apr 26, 2012 04:39 pm
#6
k4y User

Posts: 31
Member since: 26/03/2012

There are methods to find out if a trend may have reached its end and is about to reverse. Learn technical analysis - use of indicators like StochRSI (my fav), Elliot Waves, Fibonacci etc.

k4y

Apr 27, 2012 04:58 am
#7
FXlord User

Posts: 75
Member since: 07/04/2012

Never go against the trend. The pluparts strategies and forex trading systems are to identify trends. It is the right thing to do because going against a trend may result from depleting your capital.

May 27, 2012 11:40 am
#8
CFXsignals User

Posts: 359
Member since: 21/05/2012

If it was so easy to identify the trend in hindsight.  But where does the trend end?  When is the trend a false break?  When is the trend part of a consolidation pattern?  Is this a trend or a retrace of a trend?

Jun 03, 2012 12:21 pm
#9
randy181992 User

Posts: 194
Member since: 26/04/2012

Yeah we should have to try again and again till we get succeeded in forex trading and even i am giving my best here so that i can make a lots of profit in forex trading.

Jun 12, 2012 02:14 pm
#10
Sasha User

Posts: 836
Member since: 16/05/2011

We can only guess a trend by analysing market in our way. If the guess is right, we will make profit otherwise loss. So there is nothing like "dont trade against trend" or "never go against trend" coz we dont know if the next pip will be downward or upward. We can only try to predict future trend.

Jun 12, 2012 04:19 pm
#11
CFXsignals User

Posts: 359
Member since: 21/05/2012

Yep there is no such thing as don't trade against the trend, because trend traders are selling rallies on a falling trend (but isn't selling the rally against the trend?).  Its all a best educated guess.

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