Damonl's Daily Trade Picks

This is my trade analysis and discussion thread. I will be offer analysis on 14 different pairs with charts and I will also post the trades that I will be entering along with s/l and t/p levels.

Comments, questions, critiques, feedback, and your own insights are welcome.

Enjoy

There are currently no new trades to open or updates to be made. See you tomorrow.

I thought that I would pass on to you a list of current open trades that I have just to kick this off.

Please do not place any trades on this as some of these trades were opened more than a week ago.

gbpjpy - long
eurusd - long
eurchf - long
eurgbp - long
eurjpy - long
usdjpy - short
audjpy - long
nzdjpy - long
gbpusd - long
usdchf - short
audusd - long
nzdusd - long
chfjpy - long
euraud - long
eurcad - long
audcad - short
audnzd - short
audchf - short
eurnzd - long
gbpnzd - short
nzdchf - long
usdcad - short

That wraps up my open trades...see you all back here tomorrow

I have had a change of plans...I am working with a programmer on getting my daily trades automated. After that I will begin testing and posting my reuslts. Hopefully this will be completed and tested within a week or so. Then I will return.

Catch ya then and stay well.....

Here is my pair for pair analysis for 12/22/08.

Eur/Usd - Looking for a continuation move up to enter another position. Long trade s/l has been moved to 1.3823

Eur/Chf - I am a little up in the air here. Divergence to the low side is present, yet a continuation wave up is not out of the question. It would be hard to trade against the divergence however, Will have to see how this plays out.

Eur/Gbp - Currently long with some nice profit indeed. New s/l set at .9279. Other than that, nothing new to look for here.

Eur/Jpy - Currently long, moved my stop to 123.68. Still biased long on this pair and would be looking to enter long again.

Usd/Jpy - Looking for a continuation move to the downside. Still in a short position, but solidfied pips by moving my s/l to 90.05

Aud/Jpy - This has been a tough market the last week and a half. Biased long on a continuation move up. Consolidation here has been pretty severe and am expecting some sort of move, which may or may not happen until after the holidays.

Nzd/Jpy - Looking for more of an upside move here. Heavy divergence to the upside with possible downward retracement before a further up move is made.

Gbp/Usd - Currently looking for a continuation move to the upside.

Usd/Chf - Currently short in a nice downard movement. s/l set to 1.1138 and looking for another downward wave to re-enter.

Aud/Usd - Biased for another wave long, but this pair has been extremely dificult as of late

Usd/Cad - Biased for a second wave to the short side and hoping to add another position here. Current short s/l set to 1.2401 from 1.2440

Nzd/Usd - Currently have 2 postions long and still biased for another wave to the upside.

Chf/Jpy - Currently long 1 position and am biased for more upward movement. s/l has been adjusted to lock in more pips.

Eur/Aud - Currently looking for another move to the upside.

Eur/Cad - Still biased long however, it is fair to note that we are already in our 4th or 5th wave up and so a major retracement may be a possibility. Most continue to trade what is seen here as we are up many pips.

Aud/Cad - New position entered short at .8233 based on divergence biased short. This has been a pretty rough pair to trade lately so I really do not know what to expect.

Aud/Nzd - Currently short with no reason to think anything different.

Aud/Chf - Currently short with more downward movement expected.

Eur/Nzd - New position entered short based on divergence although it is noted that another wave up may be coming.

Gbp/Nzd - More downward moves expected.

Usd/Sgd - Currently short for some very nice pips, with more downward movement expected.

Nzd/Chf - We are currently in a nice consolidation pattern. Waves give us a downward biased, but divergence is currently biased to the upside. Definitely getting mized signals here. I placed a pending short order at .6214

Here is my pair for pair analysis for 12/23/08.

Gbp/Jpy - Bias is to the short side. 1 open short position, but am not sure what to expect.

Eur/Usd - Long trade s/l has been moved to 1.3823. Adding a buystop order at 1.4127 for another entry long.

Eur/Chf - Placed a sellstop order at 1.5196.

Eur/Gbp - Set current open long to close out at .9279

Eur/Jpy - Currently long, moved my stop to 123.68. Still biased long on this pair and would be looking to enter long again.

Usd/Jpy - s/l hit giving me 297 pips in profit. Nothing more at the moment, but definitely still looking to enter short.

Aud/Jpy - I am currently trying to place a spot buy order but my platform is not letting me at the moment.

Nzd/Jpy - Waiting for a continuation trade to the upside.

Gbp/Usd - Currently looking for a continuation move to the upside.

Usd/Chf - Currently short in a nice downard movement. s/l set to 1.1138. Entered an additional sellstop order at 1.0879

Aud/Usd - Biased for another wave long, but this pair has been extremely dificult as of late

Usd/Cad - Biased for a second wave to the short side and hoping to add another position here. Current short s/l set to 1.2401 from 1.2440. Opened up an additional sell stop order at 1.1983

Nzd/Usd - Both long positions closed granting me +472 pips. Still anticipating a larger up move.

Chf/Jpy - Currently long 1 position and am biased for more upward movement. s/l has been adjusted to lock in more pips.

Eur/Aud - Currently looking for another move to the upside. s/l on current long adjusted to 2.0252

Eur/Cad - s/l for my long position hit today granting me 502 pips in profit. Currently biased long and looking for another entry.

Aud/Cad - Keeping short position open for the time being currently down 88 pips.

Aud/Nzd - s/l from current short trade set to B/E +1

Aud/Chf - Currently short with more downward movement expected.

Eur/Nzd - I have kept my short trade open because of my rule sfor divergence, but I have also entered a long trade as well in case we indeed get another continuation move to the upside. Right now I am both long and short with this pair.

Gbp/Nzd - More downward moves expected. Short s/l positions have been adjusted.

Usd/Sgd - Currently short for some very nice pips, with more downward movement expected. s/l adjusted to grant positive pips

Nzd/Chf - Canclelled pending order and holding back on this pair at the moment.

Pips in profit since starting this thread. 1,271
__________________
I've been told that a professional trader exits a trade after the market has moved against him. Not when it is still moving with him.

Here is my pair for pair analysis for 12/24/08.

Gbp/Jpy - Open short position set to s/l at 134.48 which would give us +18
pips of profit. Nothing else new at the moment.

Eur/Usd - Long trade s/l has been moved to 1.3823. Moved buystop order to 1.4027. Expecting more up movement here for the moment.

Eur/Chf - Sell order triggerd. We have also not formed a lower low and am looking for more downside for this pair.

Eur/Gbp - Set current open long to close out at .9279. Nothing has changed here.

Eur/Jpy - Currently long, moved my stop to 123.68. Entered a buy stop at 127.07

Usd/Jpy - definitely looking for more downward movement at the moment

Aud/Jpy - Finally got my trade to trigger. I have placed a s/l at 61.32. I have also placed a 2nd buy stop order at 62.11 with the same s/l at 61.32

Nzd/Jpy - Placed a buystop order at 52.26 with a s/l set to 50.94

Gbp/Usd - Currently looking for a continuation move to the upside or at the very least a retracement and then more downward movement.

Usd/Chf - Currently short in a nice downard movement. s/l set to 1.1138. Additional trade has triggered and am expecting more downward movement.

Aud/Usd - Still looking for another wave to the upside.

Usd/Cad - sellstop order cancelled.

Nzd/Usd -

Chf/Jpy - Entered an additional buystop order at 83.71 with a s/l at 80.18

Eur/Aud - Still biased to the long side.

Eur/Cad - Still biased long

Aud/Cad - Keeping short position open for the time being currently down 13 pips.

Aud/Nzd - s/l from current short trade set to B/E +1 and keeping my position here as it is.

Aud/Chf - Currently short with more downward movement expected.

Eur/Nzd - I have kept my short trade open because of my rule sfor divergence, but I have also entered a long trade as well in case we indeed get another continuation move to the upside. Right now I am both long and short with this pair. Long s/l set to 2.4294

Gbp/Nzd - More downward moves expected. Short s/l positions have been adjusted.

Usd/Sgd - Currently short for some very nice pips, with more downward movement expected. s/l adjusted to grant positive pips. Place an additional sellstop order at 1.4372

Nzd/Chf -

Pips in profit since starting this thread. 1,271

What a nice break for the holidays. I did still find time to make my daily trade picks however.

From now on I will attach a .xls file as how I manage my open trades is very important and then upload them here for you all to do with them what you will.

Enjoy my daily trades..... I have updates that I cannot perform until Sunday evening and so look for another .xls from me then.

Updated spreadsheet for my daily trades.

It has been a long weekend so I am thinking things are right, but will be able to re-evaluate tomorrow.



Profits since 12/01/08 2,917

Nice sharing... put in my subscription list.

What are your entry and stop-out methods ? and how to analysis your spreadsheet ?

GL/GT...

Here is tonight's updated spreadsheet.

I did not make it to put up last evenings because quite frankly I did'nt want to.

Enjoy......



Total Pips since 12/01/08 - 2,846

Some parts of your questions are harder than others.

I have about 15 different entry points and about 15 different exit points. Basically I look for any reason to get into the market, every reason to stay in a trade and every reason to get out of a trade.

For the most part, I try to keep the s/l for my 1st trade as tight as possible, but many times it is not as tight as i would like it to be.

Not everything that I do is technical when it comes to the s/l, and I try to get a feel for what the pair is doing by watching many things. I am pretty liberal with my entries and conservative on my exits and it is next to impossible to get me to put in a t/p target on my daily trades.

I've been trading for almost 4 years, so I also throw in whatever experience that I have. My evaluation is quite complex and I try to trade every pair possible that I can. It takes me sometimes upwards of 3 hours per night, just to evaluate and write down my trade changes even before I enter them with my broker.

To say that I think I have taken some of the best strategies and combined them into one would be pretty close to what I do.

As for the spreadsheet. All the #'s relate to different trades and exit points. I trade with a small margin per trade as many times I have open 11 or 12 (ore more) trades in one direction per pair, but most additional trades happen when I am in profit already.

Perhaps sometime I will upload a spreadsheet, template and some instructions, but hopefully I have bigger plans than that, so we will see what happens. I am a little hesitant to do so just yet, because I am not into becoming a baby sitter for advanced strategies to rookies, that is why I only post my trades at the moment and nothing else, but we shall see what the future brings and what I feel like doing later.

Thanks for dropping by and enjoy the trades if you decide to take some for yourself.......

I have gotten half way through my trades for tomorrow's open, but am going to go and enjoy the new year right now with my wife. I will post a new spreadsheet with updates tomorrow before the market opens.

I am every tryin gto make my strategy easier and believe that I have made great progress in this manner. Although I may put a littl emore at risk, I will gain much more in the long run and that is what I am after.

Happy New Year, and goodbye for now

Happy New Year,

My wife and I are enjoying champange and orange juice for breakfast in celebration of the new year. I hope that everyone that reads this will have as prosperous a new year as we will.

Here is my updated spread sheet with all changes that I will make when the market opens this evening. I will have to post any new things later.

Currently from 12/01/08 we are up 2,172 pips which means that we took some s/l hits due to volitility on Wednesday. It would not also be fair if I did not mention current open trades to valued at 4,762 pips minus swaps. So....if I would have closed at the close of the new year we would really have made 7,016 pips for December, but alas, I am looking for those long 2 month runs where we make 100,000 pips for all pairs combined.

I have added a stop and reverse feature and eliminated two entry points to make this work. This means that I will not be placing any s/l numbers on my trades until a trade in the other direction appears.

Enjoy and I am feeling generous today so I may add some things to post #1 to help anyone that wants to follow along...

I missed posting yesterday, but wanted to get caught up with where we are at as of today. more than likely I will have some more input once the sunday bar closes, but I hope not

Enjoy and I also hope to give some more info in my first post as soon as I can....

I am hoping we will now start getting in to some very multiple day trends and out of this close tight range......

Update to post #1 now available.

Here is my updated spreadsheet for tonight.

You may notice that we are down all the pips we gained in December on the books, however, what may not be apparent is that in open trades we are currently up almost 25,000 pips. Which means that the equity is over double my account balance. Imagine another 3-20 days current trend....that is what I am going for

Cut your losses and let your profits run......

Good luck to all you guys trying for 20 pips

Here is my updated spreadsheet for tonight.

I am currently in equity of 420%. Do you know how hard it is not to close out at this moment?

Enjoy my trades for the evening.......

Updated Trade spreadsheet for this evening.....