Damonl's Daily Trade Picks

I have implemented some changes this evening after many months of fail safe research. Those following along, make sure that you check you traedes with mine closely.

More user freindly features coming soon..

Here is my updates for this evening.

I have made some additional changes in the spreadsheet and from here forward will only be keeping track of % gains and losses, as total pips can be decieveing based on lot size excetera.

I have successful brought my strategy down to where I can trade all pairs in about 1.5 hours which is a major improvement over before.

Soon I will update the 1st post with new information.

Enjoy!!!!

You've got one of the best-looking spreadsheets around, Damon!

I like the fact that you will be using percentages. Makes a lot more sense.

Any chance we can get the particulars on your various methods/indicators? Would love to learn more.

Thanks,
Scott

Hey Scott....can you believe I modified the spreadsheet again. It is getting easier and easier to manage the trades .

My plan is to share what i am doing in detail, but I want to make sure that I have it streamlined to the best of my ability. I am getting closer and closer to this everyday.

Keep in touch....Damon

Here is what my trades will look like once the session opens Sunday Evening. You will notice that we will now only have 1 pending order in any direction at one time. If you are following along and you see that a pending order from yesterday did not open, and that pending order is not shown today, but rather a new one is in its place. This means that you will close yesterdays and add the new on if it say "yes" next to the pending trade. If it says no next to the pending trade, no pending trade is made in that direction for today.
Enjoy!!!!

I don't know if this will work or not. I have no disk space left on my puter, and so I need to get this taken care of. I will still be making my trades, but things are slow. I hope to use this time to also get the spreadsheet the way i want it. It is almost there.Good things coming and so i hope to see you back here next week.

I have cleared up a little disk space and will continue to keep tying to post. Hopefully the computer will be fixed within a week.'Here is my updates for tonight. So far, since I have switched over to a % based record keeping we are down, but relativly small consider 24 pairs.The spredsheet is slow work becuase of my conputer speed at the moment, but it is getting close to what I want it to do.Enjoy!Well...forget it, my computer will not let me load attachements at the moment. I will get back to posting as soon as I can......

I am back.....The market is really sticky right now, but I have decided to trade anyway.

Here is my updates for this evening. I still have more testing and more work to do, so lots of improvements on the way.

Got to run....

Hello,

Here is my trades update sheet for this evening. Making headway on the streamlining of th espreadsheet and hope to offer some trading strategies soon enough. Getting closer to what I want everyday

Enjoy!

I was wondering the margin must be humongous when trading so many pairs! Your balance must be even more humongous!

GbpJpy



Definitely biased to the long side. We say a close above 2 trendlines with a significant retracement off the high. Risk reward and the close above these trendlines encouraged me to enter a long buy limit trade at the bars 1/2 way point with a stop below the lower of the 2 trendlines with a take profit at the upper level of the higher 2 trendlines.

Buy Limit 136.45
T/P 138.65
S/L 135.00

P.S. Don't mind the buy orders. It is from an EA that I am trying.

EurUsd



Bias is short with a rejection off the upper trend line leaves this pair heading lower. I will watch this trade closely, but I am setting my initial T/P at the weekly trend line. I will adjust this if I see anything suspicious.

Sell Stop @ 1.2663
T/P @ 1.2250
S/L @ 1.2850

EurGbp



Well...we are in the clusterf#ck of the spider web here. We had a rejection of an upper trendline, but were not able to even break beneath the lower weekly trendline line. I am biased short, but I am seeing a possible retracement back up to the weekly trendline.

This trade is risky!!!! But...the risk reward is phenominal

Buy @ market @ .8766
T/P @ .9150
S/L @ .8700

EurJpy



Trendlines have formed within trendlines and we have had a rejection not only from a daily upper trendline, but also from an upper weekly trendline and has formed a bearish reversal bar. Biased is definitely short and looks like a bearish flag has formed and looking to give us a lower low. We shall see. I am going to put my take profit at the weekly lower trendline, but will be watching closely to see what happens around the lower trendlines.

Sell stop @ 119.06
T/P @ 112.00
S/L @ 122.00

UsdJpy



I am not sure about this pair. I am biased short and I feel that some sort of short retracement is ready to happen here based on the rejection of the upper trend lines and an upper support line. I think that I am going to sit out making any trades here at the moment and see what maybe is happening later or even tomorrow.

GbpUsd



Well....Sterling is getting us into a tighter and tighter range. It is going to be extremely hard at the moment for this pair to go much higher. The weekly upper trendlines are just too numberous and too clustered together in my opinion. We would need to see some serious upward pressure to get back up to our mid term high of 1.5 ish area. On second hand, there is also a lot of lower support from daily trendlines to deal with for this pair to go lower. However, if we can break today's low, there is a good chance to see those daily support lines. I think I will play the short card here today with GbpUsd.

Sell Stop @ 1.4361
T/P @ 1.4100
S/L @ 1.4600

UsdChf



I am not sure that swissy knows what it is doing at the moment. I'll take a chance and say that it will go up to the next higher trendline based on the close of today's bar. This trade may be a bit risky, but the s/l will be pretty tight.

Buy Stop @ 1.1715
T/P @ 1.1850
S/L @ 1.1650

Damon,

I want to thank you for your last post. The charts and the analysis are a big help in my forex trading schooling: the "teach a person to fish" scenario. Thank you for taking the time to help us (especially us newbies).

Mary

UsdCad



zooming this pair out, I would say that we have a pretty serious bullish penent forming That means that I am biased long. Not only that, but price has riding up the lower weekly trend line combined with the fact that most of the upper daily trendlines are at an upward angle will get me placing a long order today.

Buy Stop @ 1.2527
T/P @ 1.2750
S/L @ 1.2450

AudUsd



Things are a bit up in the air for me with this pair even though we ended today with a very defined bearish reversal bar. I feel like sitting this one out and seeing what happens tomorrow.

NzdUsd



As with the auzzie, I will refrain from making a trade with this pair this eveing. There is just no room to manuver at the moment.

EurNzd



I am definitely biased short for this pair at the moment and am waiting for a close beneath the weekly trendline before thinking about going short at the moment.

GbpNzd



Missed this train...should have been long days ago. We'll see what happens now that it is up against the upper weekly trendline.

UsdSgd



based on the long wicks that we are experiencing I am seeing that this pair will head back up to the upper trendline and so will trade accordingly. The lower trendline wil lallow us to keep the stops nice and tight

Buy Stop @ 1.5343
T/P @ 1.5450
S/L @ 1.5250

EurCad



Well....I am really not sure, but I am seeing a larger up movement today as price once again was not able to close below the lower weekly trendline. I think long is a risky trade, but I will keep my risk lower for this one

Buy Stop @ 1.5936
T/P @ 1.6190
S/L @ 1.5800

There has been an update to the 1st post.

You are welcome Mary. Thanks for stopping by and enjoying the thread.

I have moved my gbpJpy trade to b/e +10 since large profits have already be observed.

Take profit target has been achieved. +220 pips

Moved my EurCad to B/E +1.

Off to work, have a great day

I did not post my trades for last night, but I will get caught up tonight. I also hope to post a daily spreadsheet that has a summary wrap up. I do not have that done yet, but it is on my to do list.

Here is where I am at with open trades.

I am short GbpUsd from 1.4515
I am short GbpNzd from 2.8055
I am still long EurGbp from .8766

Here are my new trades for this evening.....

EurGbp - Buy Stop @ 89.86 S/L @ .8953 T/P @ .9052 T/S @ 50 pips
EurNzd - Sell Stop @ 2.4740 S/L @ 2.4843 T/P @ 2.4534 T/S @ 155 pips
GbpNzd - Sell Stop @ 2.7751 S/L @ 2.7874 T/P @ 2.7505 T/S @ 185 pips
GbpJpy - Sell Stop @ 137.62 S/L @ 138.52 T/P @ 135.82 T/S @ 135 pips
GbpJpy - Sell Stop @ 137.62 S/L @ 139.50
EurJpy - Sell Msrket @ 124.11 S/L @ 125.21 T/P @ 121.50
EurJpy - Sell Stop @ 123.07 S/L @ 123.80 T/P @ 121.61 T/S @ 110 pips
EurCad - Sell Market @ 1.5982 S/L @ 1.6100 T/P @ 1.5525

Moved S/L for my GbpUsd trade to 1.4400
Move S/L for my EurGbp trade to .8825

Hi,

I am interested your strategy. which strategy are you using. like macd.
Please can you give me info.

Thanks,
Pad

Hello,

I have actually been laid off for at least the next month, and so have been focusing more on intraday trades rather than my end of day trades. Wow is that a fascinating change

What I am going to do is I am going to pick hourly trades and post them here on the thread. I am testing out something that I came across in studying charts all day. It looks fabulous. I won't go into any details, but we'll see what happens.

Once again, I am doing this for my own testing. You should trade at your own discretion.

Enjoy