USD/JPY Follow Up — Just a quick follow up to my last post... I was asked about this trade in my journal and I responded that I would probably pass on it because it was actually at the bottom of a downward channel that could be seen on the ...

Trend Trading Chart Thread

Yeah it's funny how that happens and one of the best reasons to participate in a good forum... you often know the answer yourself but it doesn't quite click until someone else says it and you have one of those "ah ha" moments!

Jacko's Forex House of Pleasure and Pain

Hi Pipalicious, I think the best way for me to answer your questions would be to go through them and put my answers in red... Hi Dan, Am I right in assuming that the reason you put lines every 50 pips is to "visually" see better where you would ...

DanUK Simple EUR/USD Trading Journal 2009

Yes, strictly speaking you should be looking for a discount to get into the trend. I'm not sure how the 1.4530 level comes into this trading method - if I have missed something here please let me know. I think the 50% fib area is a good target. It ...

Jacko's Forex House of Pleasure and Pain

Hi all, Did anyone take a trade on G/U? We've had a double rejection of the 50% area so I have taken a long at 1.6450. @ Fxacs - Did you go for the U/J trade in the end? Regards, Dan

DanUK Simple EUR/USD Trading Journal 2009

Just to add my .02! Personally I would say the with-trend entry is still the best option and my reasoning is something like this... I haven't actually been long since 1.4200 but I have been long since 1.4250 (chart attached with reasoning) - it was ...

Jacko's Forex House of Pleasure and Pain

Hi, Sorry I was asleep when you replied. I have attached a chart that might help to explain what I meant... what I was saying is that shorting UJ at the 91 level would be a fair play however I would be careful that we are near the bottom of a (daily ...

DanUK Simple EUR/USD Trading Journal 2009

Do you mean the 50% level of the swing shown on the daily chart (93.99) or the 50% level as seen on the 4 hour (91.74)?

DanUK Simple EUR/USD Trading Journal 2009

PS... I'm not saying don't go for it! Just be aware of the big picture if you do!

DanUK Simple EUR/USD Trading Journal 2009

Hi, I would be cautious - I don't trade USD/JPY yet (although I am thinking about adding it) however if you take a look at the daily chart we are at the bottom of a downward channel that could cause problems for sellers... unless there is enough ...

DanUK Simple EUR/USD Trading Journal 2009

GU is still a hard call to make. I can see why you entered the trade yesterday so don't feel bad. Currently I am measuring the most recent swing from about 1.6111 to 1.6740, so the 50% marker is around 1.6426 - so ideally I am looking for a reaction ...

DanUK Simple EUR/USD Trading Journal 2009

That's good to hear... although I am not an anti-indicator person I do believe that you can trade perfectly well without any indicators and if you learn to trade that way you will do better for it. I'll be prepared for the pestering ... I ...

DanUK Simple EUR/USD Trading Journal 2009

Hi, Yeah, like going full time in any business venture it's a daunting task BUT if you have the kahoonies to do it then it can be the greatest thing in the world. Good luck to you! Regards, Dan

DanUK Simple EUR/USD Trading Journal 2009

Hi Fxacs, I see what you mean. I don't use the 77 Cross these days - I used to use them when I started this journal, to help with my decision making, however I have slowly progressed to just using trendlines, support & resistance, round numbers and ...

DanUK Simple EUR/USD Trading Journal 2009

Hi, What do you mean "I still don't know how to compute the day bias"? Regards, Dan

DanUK Simple EUR/USD Trading Journal 2009

Hi Fxacs, G/U is currently struggling against the support trendline, although so far it is only a short term trendline so caution is advised. My bias is long though. I am still in a trade on E/U and for me I hope it continues to go up! But I am sure ...

DanUK Simple EUR/USD Trading Journal 2009

Hi, That's ok - if you don't ask the questions you won't find the answers! Thank you for your kind words also. Originally I started using a 100 pip stop loss because that is what the stop loss was as defined by Jacko's rules at the time. In my ...

DanUK Simple EUR/USD Trading Journal 2009

Hi Chris, Thank you for the information, this looks very useful. I will have to have a look into it and see if I can get it to work for me. Congratulations on your success and your position as a full time trader. I don't mind you posting in here at ...

DanUK Simple EUR/USD Trading Journal 2009

Trade Update — My G/U trade long from 1.6400 closed for +200 pips this morning (GMT+1). My E/U trade long from 1.4250 is still open, currently it is up around +300 pips and I am trailing it using the standard 100 pip stop loss. Regards, Dan

DanUK Simple EUR/USD Trading Journal 2009

Thanks garrye! Currently 200 pips locked in on GU and 200 pips locked in on EU! Happy days!

DanUK Simple EUR/USD Trading Journal 2009