Haste not to Enter AND Haste not to Exit !-TradeStar
dx and ex daily and EU daily 3 replies
Day Trading vs. Swing Trading vs. Position Trading 86 replies
Trading with Price Action - Daily Trading Analysis 144 replies
Daily Highs and Lows to Previous Daily Highs and Lows 1 reply
GBP/USD daily pip movement vs. EUR/USD daily pip movement 3 replies
DislikedEven though not much interest in this Im going to continue to post the trades and results of this, Ive entered again short on the break of the Sunday low Short now from 1.9718, with a stop at 1.9790 above the high of Monday, could move it up to the high of Tuesday but it feels too close for comfort there and the recent price action is anything but comforting so far, paying the swap and the pair just simply cant get out of its own way yet and pick a direction. Going to ride it out, if the stop is hit I may go with the stop and reverse from there time and price action will tell. If support holds from the 4 hour and 1 hour we may get a run up and will leave no choice but to ride along and see where it goes. As for a target I would like to see 1.9450's but that may be stretching it, will just have to let price action detirmine the exit considering the recent action weve been getting.Ignored
DislikedHi Bo,
Just for clarification, I assume that you actually entered trade 14 on Monday with a stoploss above Friday - is that correct? Then you moved the stoploss on Tuesday.
I get a little confused, since (partly due to time zones) I see your updates so late.
IanIgnored
DislikedHi Bo,
Just for clarification, I assume that you actually entered trade 14 on Monday with a stoploss above Friday - is that correct? Then you moved the stoploss on Tuesday.
I get a little confused, since (partly due to time zones) I see your updates so late.
IanIgnored
DislikedHi Bo,
Another confusion is that on Monday (GMT) price broke the high of the Sunday Bar before it broke the Low - so did you have an abortive trade before trade 14?
If not, why did you go short rather than long?
Thanks,
IanIgnored
DislikedEven though not much interest in this Im going to continue to post the trades and results of this, Ive entered again short on the break of the Sunday low Short now from 1.9718, with a stop at 1.9790 above the high of Monday, could move it up to the high of Tuesday but it feels too close for comfort there and the recent price action is anything but comforting so far, paying the swap and the pair just simply cant get out of its own way yet and pick a direction. Going to ride it out, if the stop is hit I may go with the stop and reverse from there time and price action will tell. If support holds from the 4 hour and 1 hour we may get a run up and will leave no choice but to ride along and see where it goes. As for a target I would like to see 1.9450's but that may be stretching it, will just have to let price action detirmine the exit considering the recent action weve been getting.Ignored
DislikedHi Bo,
I am very interested in your daily trades strat.
I guess many people are. I used to check it regularly but after a few day without new post I got the impression that for some reason you gave up.
I guess that most of the people who arrive here believe the thread is dead.
I tried to trade in this way ie the breakout of the high/low of daily candle but obviously there is more to it but so far there is no clear rules...
So if you could check in daily even if you do not take a trade to just say why you did not enter it, then the thread would really become alive and would attract more input from others.
keep up the good work
cheers.
SchmurexIgnored
DislikedCouldn't help but set TP at Daily Short Low which was hit overnight, didn't have guts to keep it longer. Still, ~100 pips profit.
Bob, what would you do if you wanted to get some sleep in this case? You just don't know if it bounces off of it and retraces or pierces thru (as it did this time)Ignored
DislikedFinally. Took 173 pips on this one. Did the fib studies off of the 4hr chart then jumped to the daily to 'see if it looked like a good set up'. Then let it go overnight. Checked it this morning...looked good to me. Moved my stop to bank profit and went off to work. Came home to see price had hit my T1 and was bouncing up and down. Tightened up my stop. Got hit. Maybe I could have made 15 more pips if I had set my TP at T1 but I was going for T2. I see now price still is hugging my T1 at 1.9524
I am quite happy taking profit since my T1 was hit. Will wait and see what direction we are going in tonight.
I think this is the way I can best trade the daily, using the 4 hr candles for setting up fibs as well as fibs based on weekly extremes.Ignored
DislikedPerfect !, use the 4 hour and 1 hour timeframes to see the daily candles price action breakdown to make an analysis as you go into the next trading day and make your decisions based from that, along with what the current direction is and the reasoning or fundamental reasons price is moving in its current direction.Ignored
DislikedYou mean previous day high low and breakout from that? Or current day high low? Although it's next trading day already, so a couple of hours ago you used high lows of May 7th to analyze possible entry?Ignored
DislikedDo you know if there is a way to copy paste Fibs from chart to chart? I am lazy to retype all the words again on USDJPY chart...Ignored
DislikedBo,
I've been trying to follow a torrent of fibs that you use but miserably failed. Looked at the movies, browsed through posts: you use Up trend, Down Trend, Support, Resistance, Retracement, Intraday, Range and probably more. Could you narrow down on which ones are essential for this type of trading (probably Daily, but looking at the intraday as a starting point).
If I had to guess, I would use Up and Down Trend for cable, then Retracement from the last big down move, then one more retracement for the current retracement from the previous retracement (!!!) and then probably intradays to begin with. What would you say?Ignored