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The View DownRiver

  • #201
  • Mar 2, 2007 11:13am Mar 2, 2007 11:13am
Pound has been strange all week long and now we are at a new level of inactivity. Want it to drop to 9400 for retest before deciding what to do here.

No trade for mat 9450s
  • #202
  • Mar 2, 2007 11:43am Mar 2, 2007 11:43am
It has to do with the 60minute intervals versus the daily. It is usually just a few ticks different when plotted on an intraday chart

Quoting Tradeit
You must not be sleeping much these days.

Let me ask you about these yellow lines. I was under impression that they inly change once a months. Why is then the hourly and daily showing different yellow lines?
  • #203
  • Mar 2, 2007 11:44am Mar 2, 2007 11:44am
I also just took profit on the USDJPY short at 116.45 as the daily analysis indicated.

This was a good one.
  • #204
  • Mar 2, 2007 11:58am Mar 2, 2007 11:58am
Quoting DownRiverTrader
It has to do with the 60minute intervals versus the daily. It is usually just a few ticks different when plotted on an intraday chart
Got it! Thanks! For some reason I thought they were matching.
  • #205
  • Mar 2, 2007 12:00pm Mar 2, 2007 12:00pm
Quoting DownRiverTrader
I also just took profit on the USDJPY short at 116.45 as the daily analysis indicated.

This was a good one.
Congratulation!!!!! I posted on Yen thread asking you about trailing stops. Perhaps these extra 18 pips is the answer.

I wish I was trading Yen this week. LOL
  • #206
  • Mar 2, 2007 12:03pm Mar 2, 2007 12:03pm
Hi everyone

As you can see from my post totals I don't chime in with my 2 pips worth of wisdom very often, probably because they are not worth more than a half a pip. I want to thank Tradeit for all his questions and DRT for his answers.

I have always subscribed to the notion " The amatures open it and the professionals close it ". Whether it is the week, day, or hourly candle. the battle is over and price is where it belongs according to all the market participants. Now DRT says take a look at the open, I can't wait to do so.

As far as S&R lines on my chart, in the past I have seen an OLD line which I had forgotten about suddenly appear weeks later after a Big move and the chart changes it's scale. I ask myself where did this come from and how is it this seems to be right where the price battle is now taking place.

Now I can't wait to develop a methodolgy to keep track of these levels. This weekends project, printing charts.

vest1
  • #207
  • Mar 2, 2007 5:06pm Mar 2, 2007 5:06pm
DRT,

Not enough words to thank you for the fascinating ideas you are exposing here. I hope I'm starting to grasp some of them...

You repeatedly mention price's "settling" above/below some level. Could you please elaborate on the meaning of "settling"? Is it the price after the US day is over? Or a narrow range during several hours?

An additional question. Could you tell more about your risk management? My impression is that you remain, e.g., long while a price goes down 200 pips. Is it correct? It would be scarry for me...
sans peur et sans reproche
  • #208
  • Mar 3, 2007 11:29am Mar 3, 2007 11:29am
Here my results with DRT trading for this week:
Inserted Code
My Intuitive DRT Trades journal

Completed Trades:
SymbolTypeOpenedClosedpips$$$comment
--------------------------------------------------------------------------
USDCHFShort2/21 19:08 1.23932/22 09:42 1.2432-39-332.54stopped out
USDJPYShort2/22 16:19 121.312/26 15:04 120.62+69 550.24got out on return to river. too early.
AUDUSDShort2/22 16:21 0.78932/26 16:55 0.7941-48-487.00stopped out
EURUSDLong2/22 16:16 1.31032/27 15:34 1.3239+1361348.90euro feels extended. will get back at lower levels
USDCHFShort2/22 19:05 1.23902/27 15:35 1.2215+1751413.94had enough
GBPUSDLong2/23 15:47 1.96202/27 21:41 1.9651+31 304.60wait to see for zone congestion 
USDCADLong2/27 15:15 1.16112/28 00:55 1.1671+60 551.55the river was reached
GBPUSDLong2/28 03:06 1.96282/28 09:07 1.9585-43-430.00stopped out
EURUSDShort2/28 03:07 1.32242/28 14:49 1.3204+20 200.00enough
USDJPYLong2/28 03:05 118.572/28 15:25 118.31-26-219.76doesn't seem to go there
USDCADShort2/28 20:17 1.16963/1  23:52 1.1730-34-307.05closed way above river level
GBPUSDLong2/28 17:00 1.96033/2  02:57 1.9567-18-185.40closed half below on close
GBPUSDLong2/28 17:00 1.96033/2  08:44 1.9533-35-355.40half stopped out
EURJPYLong3/2  05:13 155.043/2  13:09 154.44-30-255.59stopped on half lot
-------
Totals:        1796.49
Current Trades:
SymbolTypeOpenedpipscomment
--------------------------------------------------------------
AUDUSDLong3/1  22:54 0.7852-34returned to river expecting reversal
USDCHFShort3/2  18:58 1.2170+5setup short at 2167 level

I missed some of the good entires, especially with EURJPY.
I will try to get a better entry next week.
  • #209
  • Mar 3, 2007 4:52pm Mar 3, 2007 4:52pm
WHen I settling I am referring to closing mainly. A the "Daily" close is extremely important. As I have said, if it is late on Friday afternoon with 60 minutes of trading left and price has settled way below or above a key level, you may wish to consider this good enough and not wait for a close. My close is 17:00 after NY close.

I can not cover my risk management in a single post. It is an entire section. Go back and reread the first few posts in this journal and you will see that my entire philosophy is designed around risk. It is the Holy Grail of Trading. I don't think I can remember any posts here where I have remain in a GBPUSD trade on a short term River Theory trade with that many ticks against on of my key supply demand levels. Long Term Trades, yes I have done that many times.

I do have a post or two about risk and it is one of my MasterTrader topics.

Quoting ilanr
DRT,

Not enough words to thank you for the fascinating ideas you are exposing here. I hope I'm starting to grasp some of them...

You repeatedly mention price's "settling" above/below some level. Could you please elaborate on the meaning of "settling"? Is it the price after the US day is over? Or a narrow range during several hours?

An additional question. Could you tell more about your risk management? My impression is that you remain, e.g., long while a price goes down 200 pips. Is it correct? It would be scarry for me...
  • #210
  • Mar 3, 2007 4:54pm Mar 3, 2007 4:54pm
I think this is commendable for someone just beginning to develop an additional methodology or test something new. Please keep it up. Just the dedication to you doing this on a Saturday speaks words for your character. Good luck to you as you move forward.

Quoting irusoh
Here my results with DRT trading for this week:
Inserted Code
 
My Intuitive DRT Trades journal
 
Completed Trades:
Symbol    Type    Opened            Closed            pips    $$$    comment
------    -----    -----------------    -----------------    ----        -------------------------
USDCHF    Short    2/21 19:08 1.2393    2/22 09:42 1.2432    -39    -332.54    stopped out
USDJPY    Short    2/22 16:19 121.31    2/26 15:04 120.62    +69     550.24    got out on return to river. too early.
AUDUSD    Short    2/22 16:21 0.7893    2/26 16:55 0.7941    -48    -487.00    stopped out
EURUSD    Long    2/22 16:16 1.3103    2/27 15:34 1.3239    +136    1348.90    euro feels extended. will get back at lower levels
USDCHF    Short    2/22 19:05 1.2390    2/27 15:35 1.2215    +175    1413.94    had enough
GBPUSD    Long    2/23 15:47 1.9620    2/27 21:41 1.9651    +31     304.60    wait to see for zone congestion 
USDCAD    Long    2/27 15:15 1.1611    2/28 00:55 1.1671    +60     551.55    the river was reached
GBPUSD    Long    2/28 03:06 1.9628    2/28 09:07 1.9585    -43    -430.00    stopped out
EURUSD    Short    2/28 03:07 1.3224    2/28 14:49 1.3204    +20     200.00    enough
USDJPY    Long    2/28 03:05 118.57    2/28 15:25 118.31    -26    -219.76    doesn't seem to go there
USDCAD    Short    2/28 20:17 1.1696    3/1  23:52 1.1730    -34    -307.05    closed way above river level
GBPUSD    Long    2/28 17:00 1.9603    3/2  02:57 1.9567    -18    -185.40    closed half below on close
GBPUSD    Long    2/28 17:00 1.9603    3/2  08:44 1.9533    -35    -355.40    half stopped out
EURJPY    Long    3/2  05:13 155.04    3/2  13:09 154.44    -30    -255.59    stopped on half lot
                                    -------
Totals:                                        1796.49
Current Trades:
Symbol    Type    Opened            pips    comment
------    -----    -----------------    ----    ------------------------------
AUDUSD    Long    3/1  22:54 0.7852    -34    returned to river expecting reversal
USDCHF    Short    3/2  18:58 1.2170    +5    setup short at 2167 level

I missed some of the good entires, especially with EURJPY.
I will try to get a better entry next week.
  • #211
  • Mar 3, 2007 10:25pm Mar 3, 2007 10:25pm
Hello Irusoh! Very great result that you have with this method. I am sure that if you continue, you will certainely achieve a great success.

With dedication and a true and sincere wilingness to deep more and more in this great method of DRT, we can certainely hope to become MasterTrader.

Thank you very much for posting your results, it is very encouraging.

Keep it up!

Sincerly

shreem
  • #212
  • Mar 4, 2007 9:28am Mar 4, 2007 9:28am
Thank you Shreem and DRT,

After fruitlessly searching for an adequate mechanical system to trade for the last 6 months, I turned my eye onto manual trading. I hope and believe that this will bring more consistent and satisfying results and in a shorter term with the help from such experienced traders like DRT and others.
  • #213
  • Mar 5, 2007 11:00am Mar 5, 2007 11:00am
Hi DRT

I can't find a place to log in on your website, is it open yet. I joined and created a password last week. sent you an email and recieved your reply.

There is no need to rush any thing as I am still working on my printed charts trying to find a scale and method that works for me. I might be begining to see how you use the opening price.

I recall you saying the transition levels and zones were changing sometime last week and this may be slowing down my insight into what line to place where going forward on a paper chart.

Keep up the good work

vest1
  • #214
  • Mar 5, 2007 11:22am Mar 5, 2007 11:22am
There is no login required to access the blog. I was asked not to post links from FF to it so I will not be posting it here. Sorry.

Quoting vest1
Hi DRT

I can't find a place to log in on your website, is it open yet. I joined and created a password last week. sent you an email and recieved your reply.

There is no need to rush any thing as I am still working on my printed charts trying to find a scale and method that works for me. I might be begining to see how you use the opening price.

I recall you saying the transition levels and zones were changing sometime last week and this may be slowing down my insight into what line to place where going forward on a paper chart.

Keep up the good work

vest1
  • #215
  • Mar 6, 2007 3:23am Mar 6, 2007 3:23am
Hey DRT,

I recall you saying in one of your posts that Forex Futures are good indicators of which direction the trend of a pair might go. Where can I find this type of information?
  • #216
  • Mar 6, 2007 6:25am Mar 6, 2007 6:25am
You would need to get the information through your data provider. You go to the www.cme.com to learn about Currency Futures.
  • #217
  • Mar 6, 2007 10:42am Mar 6, 2007 10:42am
somehow half symbols dissapeared from DRT analysis. USDCHF, AUDUSD, EURJPY are missing.
  • #218
  • Mar 6, 2007 10:51am Mar 6, 2007 10:51am
Quoting irusoh
somehow half symbols dissapeared from DRT analysis. USDCHF, AUDUSD, EURJPY are missing.
Here is post from DRT

Quote
I have decided to narrow the pairs that I continually update. Covering six pairs daily is proving to be too much for me. By narrowing the updates, I can focus on more important components of the site and forum and spend more time in detail on the pairs covered.

I will now be covering only

  1. EURUSD
  2. GBPUSD
  3. USDJPY
  4. USDCAD

I know this affects some of you and I will continue to leave the threads in the forum in case you need assistance with the other pairs.

  • #219
  • Mar 7, 2007 6:31pm Mar 7, 2007 6:31pm
Hello everyone, with the ECB rate annoucement coming later today I posted updates on the EURUSD and the GBPUSD. Good luck and stay nimble as Ms. Trichet does his dance....the Vigilante.
  • #220
  • Mar 7, 2007 6:56pm Mar 7, 2007 6:56pm
Also added USDJPY since some have been following this pair.
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