Trade Update — Hi all, I will get around to answering questions shortly – hopefully next Monday I should be back on the internet proper at home so I will be able to post in a bit more detail. I opened two positions last Friday before leaving ...

DanUK Simple EUR/USD Trading Journal 2009

Hi, Actually I would have used the swing from 6513 - 6873 in the first instance. However note that G/U is not yet trending quite how we want it to so I would be very cautious trading it. Remember we are watching the long term trend - 15/30 min ...

Trend Trading Chart Thread

Hi, I haven't got my proper internet connection back up at home yet so I keep missing questions... sorry about that! Yes that is the sort of thing I look for. On E/U and G/U I have been using a 50 pip bounce off of support and resistance levels ...

Trend Trading Chart Thread

Yes of course we can give you a hand! I would note though that January was a particularly successful month!

DanUK Simple EUR/USD Trading Journal 2009

No laughing here! You wouldn't get that if your money was in the bank so I'd give 20% a

DanUK Simple EUR/USD Trading Journal 2009

Keep in mind that the size of the stop loss will change over time. The use of a 100 pip stop at the moment is based on an increase in market volatility - up until about July 2008 a 50 pip stop was the norm on E/U. Market volatility has calmed down a ...

DanUK Simple EUR/USD Trading Journal 2009

Hello again, I think you are over-thinking things a bit. I commend you for doing your research but remember that one of the best things about this strategy is that it is very, very simple. As a newbie to it I would recommend choosing only one or two ...

Trend Trading Chart Thread

Hi Simpleguy, Everyone draw's trendlines differently so take some time to get comfortable drawing the most simple trendlines you can. The idea of the trendline in this system is that it is indicating likely areas of support and resistance – it is ...

Trend Trading Chart Thread

That's exactly right. It might be different for seasoned traders who may have a better feel for the market but for newbies (not suggesting you are a newb coolshades!) I strongly advise to stick with the mechanical approach to the sl ...

DanUK Simple EUR/USD Trading Journal 2009

Hi, You have to do what is comfortable for you but you must also make sure that what you do is proven to work! No point doing something that you feel comfortable with if it causes you to make a loss (in the long run I mean). I use a fixed 100 pip ...

DanUK Simple EUR/USD Trading Journal 2009

Yes that is basically right - essentially I am looking at trendlines and the 50% retracement level to guide me to the area I am interested in. Once price gets to that area I use the round numbers to trade from.

DanUK Simple EUR/USD Trading Journal 2009

Hi Pip, Generally I am pretty strict about seeing the round number hit however if price were to come in with about 5 pips I would probably take note. The one time I might be a little more flexible were if price were reacting to a trendline. Regards, ...

DanUK Simple EUR/USD Trading Journal 2009

Hi, Just like forex - my stop size would depend on the item being traded. I actually have a trade open on GSK (long from 1100; very almost closed at 1200 recently) that has a 50 point stop. However if I were to trade BATS I would probably use a 100 ...

Trend Trading Chart Thread

Hi Pip, My trade was worth 1% instead of the normal 2%. I will usually trade E/U and G/U at 2% but in this instance I was in two minds as to whether or not I should trade it. I felt a trend hadn't really shown itself but price was bouncing right off ...

DanUK Simple EUR/USD Trading Journal 2009

Hi Kingfisher, Can you explain what you mean here. I can't see why the position you refer to would have been closed? Regards, Dan

DanUK Simple EUR/USD Trading Journal 2009

If you are still long from 1.4850 I would say you should have your stop loss to 1.4850 by now. If price makes it up to 1.5050 I would then move my stop loss to 1.4950 - following the rules that is. Hope that helps. Regards, Dan

DanUK Simple EUR/USD Trading Journal 2009

Yeah I think what you are saying is correct. Basically when the trend is up you are waiting for a pull back to get in at a discount. In order to find a discount you use the 50% fib level and trendlines to guide you in the right direction and use the ...

Jacko's Forex House of Pleasure and Pain

PS... I did take a small position on G/U @ 1.6600 after rejection of the 50% fib and trend line. Trade is currently sitting at BE.

DanUK Simple EUR/USD Trading Journal 2009

Hi Pip, I used to keep a record here of all trades taken however I haven't posted the results for the last couple of months as I have been so busy. Once things are a bit more settled for me I will post them as that was the original purpose of this ...

DanUK Simple EUR/USD Trading Journal 2009

Hi Samer, I was waiting for something in the 1.4800 area but it didn't get there! Regards, Dan

DanUK Simple EUR/USD Trading Journal 2009