Sounds about right!

Jacko's Forex House of Pleasure and Pain

[quote=francish;3015749] The fib is measured using the most recent swing and the 50% level is used to guage the likely area to enter when the market retraces. This works best when the market is in a good trend. Regards, Dan

Jacko's Forex House of Pleasure and Pain

Hi, I believe it is full lots only (not scaling in and out). That is how I do it and I think that is the way Jacko teaches. Regards, Dan

Jacko's Forex House of Pleasure and Pain

Hi GJP, Yeah, the trend is not so clear so things are a bit on the quiet side. I am short GBP/USD from 1.6300 but no position on E/U at the moment. Regards, Dan

DanUK Simple EUR/USD Trading Journal 2009

My thoughts are similar for G/U too, although this pair has already shown confirmation of a possible down trend. I will be looking for a possible short in the 1.6300 area.

DanUK Simple EUR/USD Trading Journal 2009

Hi Gary, I wouldn't argue with that. For me it's too early to say we are in a down trend but a retest of 1.4300 and then a move down would confirm the possibility of entering into a new down trend. I will be watching that area and waiting for some ...

DanUK Simple EUR/USD Trading Journal 2009

Hi fxacs, My positions yesterday were only small scalps in comparison to my normal trading setup. I have attached an image of my EU trade. It was based on a pin bar at the 1.43 area - I went long above it at 1.4310 targeting 1.4340 with a tiny 15 ...

DanUK Simple EUR/USD Trading Journal 2009

Hi Fxacs, Yes it would be sensible to wait before placing any more trades using the trend following strategy at the moment; far too much chop! I am however long EU @ 1.4310 and long GU @ 1.6410 today based on support, resistance and price action. I ...

DanUK Simple EUR/USD Trading Journal 2009

Hi GJP, I did and I have finally replied! Sorry for the slow response! Regards, Dan

DanUK Simple EUR/USD Trading Journal 2009

Congratulations on your success! The way I see it is that if you can mange to keep your head above water during these hard times then you will make a killing when we get back into a good trend!

DanUK Simple EUR/USD Trading Journal 2009

Hi Andy, Sorry I didn't reply yesterday I wasn't feeling too well! I would be cautious of taking a trade in that area at the moment. As I see it, if you want to short the Euro at the moment 1.4300 would be a better place to look at (although I ...

DanUK Simple EUR/USD Trading Journal 2009

Hi GJP, Congratulations on your trades! My G/U trade closed out at breakeven. My E/U trade is still open. Normally I will only exit a trade using a trailing stop loss however when we are stuck in heavy congestion and you are pressing up against some ...

DanUK Simple EUR/USD Trading Journal 2009

Finally got a nice bullish reaction off of 1.4100. I went in long at 1.4150. GJP - Did you take the trade? Should be looking good by now! Regards, Dan PS... Should also mention I have reversed position on G/U. Closed my short at 1.6450 and went long ...

DanUK Simple EUR/USD Trading Journal 2009

Hi, Interesting view point - would you mind sharing your reasons on this? Regards, Dan

DanUK Simple EUR/USD Trading Journal 2009

Hi Fxacs, I think that the trend could change... we have broken trendlines on the 4 hour chart and a lot of congestion. It could go either way at the moment which is why I am not entering any positions without confirmation. When there is no real ...

DanUK Simple EUR/USD Trading Journal 2009

Hi GJP, The jury is still out on this one! As we don't have any real commitment to a trend at the moment I will only be taking a trade if we get a good price action signal. For example my recent entry into G/U was based on a bearish engulfing bar (4 ...

DanUK Simple EUR/USD Trading Journal 2009

19 August 2009 — Good morning chaps, I am currently short GBP/USD from 1.6500 (after rejection of the 1.6600 key area). I am considering shorting EUR/USD too. Regards, Dan

DanUK Simple EUR/USD Trading Journal 2009

Well we are back into the range which to me says it is time to sit back and wait for confirmation before taking any more trades. I see trendline breaks on E/U and G/U and the possibility of a trend change. At the moment however we are in the middle ...

DanUK Simple EUR/USD Trading Journal 2009

Hi guys, Congratulations on your trades. I must admit I got spooked and took the money too! At the time I was a little concerned that I had made the wrong choice to close it out but looking at what has happened today I am glad that I did! Regards, ...

DanUK Simple EUR/USD Trading Journal 2009

Hi Andy, Yes I too think that manual/discretionary trading is the way to go... although I am sure there are plenty of people who would disagree! I don't have any statistics about taking off partial profits but my personal preference is to trail the ...

DanUK Simple EUR/USD Trading Journal 2009