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Trading the Daily

  • #281
  • May 13, 2008 8:06am May 13, 2008 8:06am
Quoting Bobokus
Below Mondays low (1.9436). Almost got hit already, one more wave down and this one is stoppoed out. Whew !
Thanks Bo,
Thats the same as I have. Only difference is that when I changed my SL for the previous trade, I forgot to update the buy order - so got in a fair bit higher than you did.

Ian
  • #282
  • May 13, 2008 9:32am May 13, 2008 9:32am
Do we now have trade 17 in at 1.9436 Sl at 1.9593 - or should that Sl still be at 1.9640?

Ian
  • #283
  • May 13, 2008 3:36pm May 13, 2008 3:36pm
Last trade went sligthly wrong, what beeing the reason ?
  • #284
  • May 14, 2008 7:04am May 14, 2008 7:04am
Hi guys..
I seem to be able to understand the concept. But I am still unsure of when to enter and the logic of it. The instructions in the document seem to be abit confusing for me.

Is there anyone out there who can simplify what it really means.

Thanks.
  • #285
  • May 14, 2008 9:26am May 14, 2008 9:26am
Quoting ianf0ster
Do we now have trade 17 in at 1.9436 Sl at 1.9593 - or should that Sl still be at 1.9640?

Ian
Yes trade 16 is stopped out for a 93pip loss, Trade 17 is triggered Short from 1.9436 with the stop set above yesterdays high now at 1.9593. If the trade survives today, it looks as if we can close that in some.
Attached Image (click to enlarge)
Click to Enlarge Name: trade 17.gif Size: 24 KB
  • #286
  • May 15, 2008 6:15am May 15, 2008 6:15am
I am now long @1.9480. But if it breaks the Intraday pivot, then this could be another loser.
  • #287
  • May 16, 2008 5:09pm May 16, 2008 5:09pm
Quoting ianf0ster
I am now long @1.9480. But if it breaks the Intraday pivot, then this could be another loser.

Ive been away for a few days but yes, the break of 1.9840 was the stoploss for trade 17 taking another 44 pips in the process and the Long enrtry for trade 18 now. Maybe we can get some movement out of Cable this time without so much chop. The week ends as a loosing week but minor losses in the grand scheme of things.
  • #288
  • May 18, 2008 6:19pm May 18, 2008 6:19pm
Quoting Bobokus
Ive been away for a few days but yes, the break of 1.9840 was the stoploss for trade 17 taking another 44 pips in the process and the Long enrtry for trade 18 now. Maybe we can get some movement out of Cable this time without so much chop. The week ends as a loosing week but minor losses in the grand scheme of things.
Can't get used to putting those stop buys just in case, hence missed move up last Friday. Are there cases when you don't put a buy stop? When do you put otherwise?
  • #289
  • May 20, 2008 12:03pm May 20, 2008 12:03pm
Quoting jasius
Can't get used to putting those stop buys just in case, hence missed move up last Friday. Are there cases when you don't put a buy stop? When do you put otherwise?

I usually move my stops or make adjustments at the open and close of each Daily candle. This time Ive missed the boat so Ive got to wait out the next movement. I had my stoploss moved up to the low of Sunday at 1.9519 which got hit and closed trade 18 out for 39 pips. I wish now that I hadnt moved it upso close to price but its hindsight now and I just move on to the next one. Yes there are times when I wont set the entry to reverse my position, this week is a prime example of this I didnt want to go short with Cable but I didnt want to take a loss either so I overreacted by setting my stop to Sundays low and since I didnt want to take the short here I did not set a sell stop.
  • #290
  • May 28, 2008 10:30pm May 28, 2008 10:30pm
Is the #17 still on ? Did it finish with profit/loss ?

Are there any new trades ?

Thanks for updating this thread.
  • #291
  • Jul 24, 2008 4:15am Jul 24, 2008 4:15am
can we trade with small timeframe like 30 - 1H or 4 H

because with Daily is long time to trade
and we find only 50 or 100 pis per day
  • #292
  • Sep 22, 2008 2:31pm Sep 22, 2008 2:31pm
Hi guys! I try to undrstand fibo... can you say some words about market today? i tried to make some pictures....
Attached Image(s) (click to enlarge)
Click to Enlarge Name: gbpusd 22.09.08 weekly.gif Size: 23 KB
Click to Enlarge Name: gbpusd 22.09.08.gif Size: 22 KB
  • #293
  • Sep 24, 2008 2:02pm Sep 24, 2008 2:02pm
Hi, guys! My english not very good, but i try to continue this thread =)

We have Down Trend from november 2007 (2.1161-1.7446)
Last big Down Move was from 15 july to 11 september.
Now we have correction to Down Move and price situated in sell zone.
Last 2 days we have flat, so i set a sellstop 5 pips lower flat's border
Attached Image (click to enlarge)
Click to Enlarge Name: gbpusd 24.09.08 daily.gif Size: 28 KB
  • #294
  • Sep 24, 2008 2:14pm Sep 24, 2008 2:14pm
Quoting makron
Hi, guys! My english not very good, but i try to continue this thread =)

We have Down Trend from november 2007 (2.1161-1.7446)
Last big Down Move was from 15 july to 11 september.
Now we have correction to Down Move and price situated in sell zone.
Last 2 days we have flat, so i set a sellstop 5 pips lower flat's border
That would be correct, now that its testing these resistance levels, a break of the previous daily lows is the first sign it will attempt to go back short again. Sell stop at 1.8466 with a fairly large stoploss though around 1.8610-8615. If it doesnt make a lower low today the sell stop can be moved to 1.8470.
  • #295
  • Sep 25, 2008 1:12pm Sep 25, 2008 1:12pm
Stop loss was hited, then price reversed and went down.
Result: -153 pips
Attached Image (click to enlarge)
Click to Enlarge Name: gbpusd1 25.09.08 daily.gif Size: 19 KB
  • #296
  • Sep 25, 2008 1:58pm Sep 25, 2008 1:58pm
Still in trade EUR.
Entered yesterday on break of day low. Stoploss was at 1.4870, and now i replace it to 1.4775
Attached Image (click to enlarge)
Click to Enlarge Name: eur 25.09.08 daily.gif Size: 29 KB
  • #297
  • Sep 28, 2008 3:10pm Sep 28, 2008 3:10pm
Hy guys!
Here is my next trade: we go short on break of friday candle. Stop will be few pips above candle's hight.
But i'm confused alittle. Now we have Down Trend (from middle july) and Down move (from 20 august). And we have a good retracement from Down Move to go short.
BUT few day ago price bounce of Up Trend Long (from 2001 year) and.
Can we go short or we must wait for buy signal? But if we wiil wait fora buy signal, we will have many resistance levels from Down Trend and Down Move
Attached Image (click to enlarge)
Click to Enlarge Name: aud 28.09.08 daily.gif Size: 28 KB
  • #298
  • Sep 30, 2008 1:53am Sep 30, 2008 1:53am
closed EUR/USD trade at Up Trend Long, because its strong resistance level.
265 pips win

Total:
week 1:
Eur/Usd (1 trade) +265pips
Gbp/Usd (1 trade) -153pips
Attached Image (click to enlarge)
Click to Enlarge Name: eur 30.09.08 daily.gif Size: 25 KB
  • #299
  • Oct 2, 2008 2:43pm Oct 2, 2008 2:43pm
Good night!
Is there anybody?
My next trade with CAD/USD
price is near Down Trend Long and on 1hour chatr bounce off this line. Also we have a good resistance line from 11 and 17 september (price tried to break it). Target is 1.0500-1.0600
Attached Image (click to enlarge)
Click to Enlarge Name: cad 02.10.08 daily.gif Size: 26 KB
  • #300
  • Last Post: Oct 2, 2008 4:36pm Oct 2, 2008 4:36pm
Quoting makron
Good night!
Is there anybody?
My next trade with CAD/USD
price is near Down Trend Long and on 1hour chatr bounce off this line. Also we have a good resistance line from 11 and 17 september (price tried to break it). Target is 1.0500-1.0600
Hi Makron, we spend most of our time here in my other thread
http://www.forexfactory.com/showthread.php?t=50767

All the fib info is there, but we look more at the 1 hour timeframe, It was too much to try and keep up 2 threads, your welcome to join us over in the other thread and I will help you more there if you would like to continue trading from the Daily.
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