Hi Castlerock, I sold G/U at 1.6050 too... we got a better retracement up to the 50% fib and you have the same trend line I do... great minds eh!! Trailing this with the normal 100 pip stop now... fingers crossed we might be in for a bit of a move! ...

DanUK Simple EUR/USD Trading Journal 2009

Hmmm... I can't see it. Assuming we are still following the original method (i.e. simple left to right analysis of a 300 bar chart) I can't see a southern trend in any way, shape or form. Perhaps I am looking at the chart wrong! If so, perhaps you ...

Jacko's Forex House of Pleasure and Pain

Current E/U Situation — Well my last trade was closed out for +100 pips and I am back in long at 1.4700 - the reason being that I have 1.4650 as being a fairly important historical level of support and resistance. My original trade got closed ...

DanUK Simple EUR/USD Trading Journal 2009

Yes actually you are quite right... in fact the very reason that I started this journal was so that I could keep a record in a central place of all my trades using this method so that I could prove to myself it was either working... or not! Regards, ...

DanUK Simple EUR/USD Trading Journal 2009

Hi Pip, Thanks for this post - I think you have an important message here. When we start out on the path to becoming a trader we focus too much on how to squeeze every ounce of profit we can and how to make the most money that we can. Of course we ...

DanUK Simple EUR/USD Trading Journal 2009

Hi Fxacs, When the market is trending then I never close a position early and the reason for that is because I do not have a crystal ball telling me when the market is going to reverse. If the market is range bound then I would suggest tightening ...

DanUK Simple EUR/USD Trading Journal 2009

Hi Nht, I hope you are trading a demo account there mate! May I ask, why did you enter long at that price? I don't mean to be rude but it seems you were chasing the trade rather than letting the trade come to you. Regards, Dan

Trend Trading Chart Thread

I'm with you on this mate. Trend trading is actually sooooo easy it is kind of unfair! If you can have the patience to wait for the right moment to strike (and not overcomplicate things... stick to the simple rules laid out on page one of this ...

Jacko's Forex House of Pleasure and Pain

Yes - my analysis is done using the 4 hour charts but with a glance at the daily and weekly to give me a better idea of where we are. When price approaches my entry target then I will drop down to the H1 charts - this is not for analysis, just ...

DanUK Simple EUR/USD Trading Journal 2009

Oh and I should add that I don't trade off the 50% level exactly - I use the nearest round number to the 50% level!

DanUK Simple EUR/USD Trading Journal 2009

Hi, Seeing a double bounce on an hourly chart would be my ideal setup but I will place a trade based on the first bounce if I think the setup (based on location) is right. The reason for this is that if we get a strong move away then waiting for a ...

DanUK Simple EUR/USD Trading Journal 2009

Nice trades Fxacs! I am in a similar E/U trade (long from 1.4550) and my similar G/U trade (short from 1.6050) has just closed for +100 pips. Congratulations guys, a few good trades I see here today. Regards, Dan

DanUK Simple EUR/USD Trading Journal 2009

Hi Castlerock, Can't argue with the logic of your trade! The only thing however is that I would have waited for price to actually hit 90.50 before placing the order - only that I am very strict about using round numbers. You do have the trend on ...

Trend Trading Chart Thread

Good morning folks, I am in G/U short from 1.6050 after bouncing off the 50% retracement at 1.6100. I have not yet opened a trade on E/U but I am watching... waiting for the right moment! Regards, Dan

DanUK Simple EUR/USD Trading Journal 2009

Hi Fxacs, Perhaps you could post some charts showing where you went wrong? It might help for others to have a look over and offer some advice, if possible. Regards, Dan

DanUK Simple EUR/USD Trading Journal 2009

Hi guys, Sorry I haven't posted much recently - had a long weekend with no time for trading! I am back to it now though; my current thoughts are... E/U is coming into firing range now - would like to see it go a little lower before I am in though. ...

DanUK Simple EUR/USD Trading Journal 2009

That's cool, you're quite welcome to share! In fact I'll be after you if you don't continue to!! Regards, Dan

Trend Trading Chart Thread

Hi, Probably not as much as I spend in this forum!!! Seriously though, my actual trading doesn't require all that much screen time... I would say I probably spend an hour per day (usually in the evening) just going over my analysis and then I set ...

Trend Trading Chart Thread

Hi Pip, Yeah I agree with you... definitely still range bound. I am starting to see a possible downward bias but I think the 1.6000 area will be the decider. Given that you trade dailies rather than the H4 charts I would be waiting for some kind of ...

DanUK Simple EUR/USD Trading Journal 2009

Hi Dave, Welcome aboard! I agree with your approach... it may cost a few pips here and there but in the long run it will save your ar*e more often than not! Regards, Dan

DanUK Simple EUR/USD Trading Journal 2009