Hi drumdude, What did you base your trade on? Regards, Dan

Jacko's Forex House of Pleasure and Pain

Hi Pervaz, Yes you definitely can trade this method on stocks... in fact anything that trends. The only thing is you will have to choose different sized stop losses etc based on how each item (be it stock or index etc) moves. That was another reason ...

Trend Trading Chart Thread

Hi Coolshades, My bigger picture fib was drawn from the high of 13/10 to the low of 16/11 which gave the 50% level at 1.6300. This is also an area of key support/resistance so this is where I was looking as a possible area to trade from. As price ...

DanUK Simple EUR/USD Trading Journal 2009

Yes I've been trading stocks for a lot longer than forex, although my stock trading involves a little more fundamental analysis than my forex trading.

Trend Trading Chart Thread

Hi Fxacs, I agree that GU is more volatile than EU but 100 pips should be enough. If you take a look at a H1 chart (just for this exercise) you should see that GU moves in 100 pip increments pretty well; the market noise referred to are the minor ...

DanUK Simple EUR/USD Trading Journal 2009

Hi Pervaz, That's ok - I don't think anybody minds answering questions; that is part of the reason this thread exists. I do recommend keeping a journal though; in order to keep track of your trades and to help air your thoughts whilst trading, as ...

Trend Trading Chart Thread

Hi Bluehorizon, I think what this means is that if price is at a level that you are interested in and you are not getting a reaction then it is probably not the best level to trade from. The idea behind this is that, as we know, the market is moved ...

Trend Trading Chart Thread

Hi Pip, Don't worry about that - I've done exactly the same thing many times before. The thing is that you are protecting yourself from taking a loss or sometimes ensuring that you take a profit... and that is fine. I used to have a similar problem ...

Trend Trading Chart Thread

Hi, That ok I don't mind answering questions! Yes you are correct that I only trade in the direction of the trend - I try not to take CT trades. The only thing I would add is that I trade off of H4 charts (which are generally heading the same ...

DanUK Simple EUR/USD Trading Journal 2009

Hi guys, Good to see lots of sensible ideas and discussion going on here. I am back online now so I shall be popping in more often (if the kids allow it!). I think we are all seeing things fairly similarly at the moment. I just posted this in my ...

Trend Trading Chart Thread

Good stuff! Moving the stop 50 pips at a time is a suitable strategy too. Good luck with learning... the good news is that this method is very simple and so long as you don't over-think things you should do ok! Regards, Dan

DanUK Simple EUR/USD Trading Journal 2009

Back online — Hi all, I have finally got my permanent internet connection back online at home so I can try and keep this thread a bit more up to date (trade wise). I currently have a long open on E/U from 1.4900 (opened last Friday) and a long ...

DanUK Simple EUR/USD Trading Journal 2009

I have looked into correlation tables and how to take advantage of them... in my opinion the best way to use them is to know which pairs are correlating in a particular trend (say for example EU and AU are in an uptrend) and trade the pair that ...

DanUK Simple EUR/USD Trading Journal 2009

Hi Zol, I just wanted to make a brief comment on this point. The idea of a 100 pip trailing stop (on E/U and G/U) is that it is big enough to withstand the "market noise" (also known as sucker rallies!). So beware of moving your stop to BE as soon ...

DanUK Simple EUR/USD Trading Journal 2009

Hmmm I'm not sure I follow you here? We put the stop 100 pips away when trading E/U and G/U so if the market went 40 pips against us that would be ok. I don't actually trade EUR/JPY so unfortunately I can't advise what the best stop size would be ...

Trend Trading Chart Thread

Hi, I wouldn't be happy about going long at the moment. I have a long on from 1.6350 after price bounced off the 50% level at 1.6300 but price is too far away from there to take a trade at the moment. Price may well be heading back down to the ...

DanUK Simple EUR/USD Trading Journal 2009

Hello & welcome to the thread, I don't tend to draw my trendlines off of a weekly chart but I do sometimes draw a trendline off of a daily chart just as a guide to the bigger picture. I also use the weekly chart to draw major horizontal levels of ...

DanUK Simple EUR/USD Trading Journal 2009

Yes that's right - I will make further comment on this tomorrow as I've got to shoot out now but I agree - when I talk about trend I talk about the trend that is likely to last for weeks to months to years; not something that changes in a day but ...

DanUK Simple EUR/USD Trading Journal 2009

It's already gone past it!

And Now EURUSD goes to MAX of 2007??

Hi Zol, Yes it's far too early to be thinking about trend changes! What is your position on AU? If you made a mistake do you know what went wrong... did you learn anything from it? Regards, Dan

DanUK Simple EUR/USD Trading Journal 2009