DanUK Simple EUR/USD Trading Journal 2009 - Page 2
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Thread: DanUK Simple EUR/USD Trading Journal 2009

  1. #11
    Hi,

    I like simplicity but I find a lot of individuals seem to overlook the simple methods since they don't think trading can be that straightforward. Of course entrances are only the start...

    Actually I move my trailing stop after price has labeled the next round amount, so for example if I were to buy at 1.2000 I'd wait until price strikes 1.2100 before moving my stop to breakeven then I proceed with that; so after price reaches to 1.2200 I then move my stop to 1.2100.

    Sorry I wasn't clear - I assumed that the 1.4900 on GBP/USD in the previous move down from 1.5350 to 1.4470 (approx).

  2. #12
    It is the beginning of another week and I'm having trouble deciding what to do now! Well really, I had difficulty determining what to do... today's rankings are as follows:

    EUR/USD Sell @ 1.3300 (Stop loss moved to breakeven)

    GBP/USD Sell @ 1.4700 (Stop loss moved to breakeven)

    These entrances are slightly modified from the standard principles; the reason for this is as follows:

    EUR/USD - Opened above the 77 cross which typically indies a long entry; nonetheless I was seeing e/u falling from a daily trendline. This was corroborated by the 21 ema that's utilized to keep a watch out for the slightly longer term trend from the original system and helps to guide when daily signals are mixed.

    So initially I was unwilling to enter any position on e/u yet as price began falling I moved down to the 4 hour interval which closed under the 77 cross (4H) at 08:00 GMT this morning. I chose to base my entrance on the 4 hour sign and went short when price retested 1.3300.

    GBP/USD - Basically the Exact Same story as e/u. According to the underlying belief that g/u was heading down, I established my entrance on the 4 hour signal, which captured me at 1.4700.

    Now it is time to sit back and see what happens!

  3. #13
    It sounds taking the time to think about the general tendencies and make my mind up entering my transactions yesterday has repaid!

    GBP/USD was stopped out for 400 in 1.4300

    EUR/USD is still in play with stop transferred to 1.3000 ( 300)

    I'd have liked to get back in the g/u commerce as the stop has been hit after which the trade lasted - this is the down side to tracking stops! Not complaining as it caught 400. Although, if I hadn't been shaken out (I believe that is what they call it) I might be up 600 by today - but let's not worry about what could happen to be!

  4. #14
    Nice trading Dan

    PC

    Quote Originally Posted by ;
    Well it sounds taking the time to take into account the general tendencies and make up my mind entering my transactions yesterday has paid off!

    GBP/USD was stopped out for 400 at 1.4300

    EUR/USD is still in play with stop transferred to 1.3000 ( 300)

    I would have liked to return in the g/u commerce as the stop has been hit and then the trade lasted - this really is the down side to trailing stops! Not really complaining though as it caught 400. Although, if I had not been shaken out (I think that is what they call it) I might wind up 600 by today - but let's not fret about...

  5. #15
    Thank You PC!

    Yesterday's EUR/USD Short was discontinued at 1.3000 today for 300 pips so no new e/u orders were placed today.

    Took an instant loss on GBP/USD today - Sold @ 1.3900, got stopped out within hours at 1.4000 for -100, and as price only moved another twenty one pips past that there was no time to get an AH re-entry which meant I missed out at least 200 pips on g/u today - but never mind!

    Current analysis for tomorrow's trades are:

    E/U - If price cannot remain confidently over 1.2900 then will probably likely be selling tomorrow. But if price retraces upwards considerably then I will be out of the market till 1.3100, then will look to brief at that time.

    G/U - When price remains inline with the accelerated downward trendline that begun at the 1.49 area then standard entrance rules ought to apply.

    Important Note: The information above is for my analysis only so that I can return at this after the fact to see if I was right or wrong! As it's not please do not take it as trade guie!

  6. #16
    Sell GBP/USD @ 1.3900 (Stopped outside at 1.3800 to get 100)

    Anticipating a Sell on EUR/USD at the 1.3100 area (Sold @ 1.3050, see article below).

  7. #17
    I've decided to take the short from 1.3050. Price has attempted the horizontal resistance at 1.3080 a few times and so far can not appear to push .

    I believe there's still a chance of 1.3100 getting hit but if I'm right it shouldn't get too far beyond it.

    Time to sit back and wait...

  8. #18
    Yesterday's E/U short came really near getting stopped out at breakeven last night but has managed to live and is now in profit

    Today's new place is a Sell on GBP/USD @ 1.3800.

    Update: Trade stopped out for 200. I bent the rules very marginally with the exit with this commerce. Normally I just move my stop once price has transferred 100 pips (i.e. to the next round number) however the lowest point of this trade was 1.3501 - that means it did not actually hit on the round number 1.3500 and in concept (if that was purely mechanical) could just have stopped out for a profit of 100. However I determined that I wouldn't allow the reduction of 100 pips for the interest of missing the next goal by 1 pip, hence I moved down my stop to 1.3600.

    I must admit I was reluctant to do so because it might have been annoying if price had come back to strike 1.3600 and then return on it is way - but as it occurs price continued to move around 1.3700 which justified my rule bending!

  9. #19
    Third week has been a week at pips and experience. I needed to make a couple of judgment calls which happened to work out in my favor. I might have just been blessed of course - but I'm hoping it was down to good analysis really!

    The conclusion of week outcomes are...

    EUR/USD 400
    GBP/USD 600

    Total 1000

    January total so far is now 2200 (just wish it was actual money!!) .

    I am also contemplating starting with actual money in February. I had initially intended to demo for a minimum of 3 weeks but January has worked much better than I had expected which has given me a small boost! As a result I believe it'd be better to keep testing however employing a little quantity of money in order to have a grasp about the plogical aspect of trading.

    My egy is to start with as little an account as possible - just a couple hundred pounds will be fine, which should give me enough of an insight into whether or not I could turn profitable demo trading into profitable real trading! We'll see!

    P.S. Any advice out of traders that have made the move from demo to actual money would surely be appreciated!

  10. #20
    hi Dan
    I would really like to hear your remark about GU.
    ON WEEKLY sellers failed twice in a row to push it lower as per attached chart and buyers seems up to take control.
    On daily we've we had a hammer 3 times past and GU is going up to meet the descending trendline at 1.53 area.
    In accore with your method of trading ( witch would be just like mine ) but nevertheless I believe u are far better than me. Would u think of shorting it at 1.53 or u will wait to get a kind of price action .at the trend line before renewing it, or u will not be thinking of shorting now because of these 2 pin bar on weekly??
    regards
    samer


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