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DanUK Simple EUR/USD Trading Journal 2009

  • #41
  • Feb 6, 2009 10:47am Feb 6, 2009 10:47am
Yes, I'm interested. I can go back and read the other threads with no problem. Since you are using a cross of the two systems, it would be helpful if you could post how you are trading a little more defined.

Quoting DanUK
Hi Siuol,

No secrets here my friend! My method is based on a cross between a system traded by another member here at FF (Johndoe's "77 Cross" - you can check out his rules in his 2009 journal) and Jacko's simple trading method.

I haven't posted any rules here because I don't have them set in stone at the moment. I essentially set a daily bias based on the "77 Cross" system and enter a trade if the bias is inline with the long term trend (although I have been know to make one or two counter-trend trades if I feel there is room to do so)....
  • #42
  • Feb 7, 2009 1:41am Feb 7, 2009 1:41am
Quoting Siuol
Yes, I'm interested. I can go back and read the other threads with no problem. Since you are using a cross of the two systems, it would be helpful if you could post how you are trading a little more defined.
hi,

i am also interested - especially in the differences to the "77-method"

regards

sten
  • #43
  • Feb 7, 2009 4:12am Feb 7, 2009 4:12am
Hi Guys,

Thanks for your interest. I will try and put some info together over the weekend and get back to you. If I can write something that makes sense that is!

Regards,


Dan
  • #44
  • Feb 7, 2009 11:19am Feb 7, 2009 11:19am
Thanks. That would be great.

Quoting DanUK
Hi Guys,

Thanks for your interest. I will try and put some info together over the weekend and get back to you. If I can write something that makes sense that is!

Regards,


Dan
  • #45
  • Feb 7, 2009 12:31pm Feb 7, 2009 12:31pm
so when MA's cross means that we are going back in the direction of the 21MA signaling optortunity to enter.
  • #46
  • Feb 8, 2009 5:01am Feb 8, 2009 5:01am
Quoting pj11500
so when MA's cross means that we are going back in the direction of the 21MA signaling optortunity to enter.
Almost! It's not the cross of the MAs but the cross of price back over the MAs in the direction of the trend. I actually use a 25 SMA but the 21 is fine.
  • #47
  • Feb 8, 2009 5:03am Feb 8, 2009 5:03am
Hi Guys,

I have just updated my first post to give a bit more of an explanation about my trades. Hopefully it will make sense, I actually found it quite hard to write it all down (in a coherent way) without babbling on too much!

Let me know what you think!

Regards,


Dan
  • #48
  • Edited 6:15am Feb 8, 2009 5:12am | Edited 6:15am
Ok so it was a fairly tough week of trading! Monday and Tuesday saw E/U retracing and with the NFP release on Friday I only really had Wednesday and Thursday to trade this week! G/U I made a mistake with my entry at 1.4250, which should really have been an entry at 1.4200 but it did end up turning a profit so I can’t really complain too much!

EUR/USD Breakeven
GBP/USD + 300

Total + 300
  • #49
  • Feb 8, 2009 6:18am Feb 8, 2009 6:18am
  •  khaled
  • | Joined Jun 2006 | Status: A System is something u do EVERYDAY | 45 Posts
Quoting DanUK
Ok so it was a fairly tough week of trading! Monday and Tuesday saw E/U retraceing and with the NFP release on Friday I only really had Wednesady and Thursday to trade this week! G/U I made a mistake with my entry at 1.4250, which should really have been an entry at 1.4200 but it did end up turning a profit so I can’t really complain too much!

EUR/USD Breakeven
GBP/USD + 300

Total + 300
Great work Dan , I will start following up closely this journal as of the begining of the week. I do have a couple of questions:
1-DO you normally post the trades before you enter them or after?
2-Do you think usingthe same SL (100 pips) for bith the E/U and G/U is fair? I tend to have the feeling that the G/U moves faster, just a thought.
3-Will you be adding other pairs in the future such as G/Y and E/Y or you dont like thier volatility?

Looking forward to your replies

Hope you are having a great weekend
  • #50
  • Feb 8, 2009 11:18am Feb 8, 2009 11:18am
Hi khaled,

To answer your questions...

1. I don't post trades before I take them because this is not a predictive way of trading (and this really is just a journal to keep a record of how well things go, or not!). Also I am not a pro - I wouldn’t want anyone taking trades because I called them – as I could be wrong!!! Trading depends on where price is at the start of a new day and I will place my trade when the closest round number gets hit. I will however occasionally suggest an area that I am looking at when the market is retracing (i.e. what I am looking at in the Analysis Chart).

2. This is true, and in fact I have been considering 100 pips might be too tight for E/U at the moment. This is why I am demoing at the moment in order to get an idea of what the best figures are for each currency pair.

3. Yes I will consider adding more pairs as I go - the time this system works best is when it nails the trend and goes along for the ride, however it doesn't perform as well during a flat market - this is where adding more pairs may help to balance out when some pairs are flat others could be trending.

I hope that helps. Again, I must mention this strategy is being demo traded only!

Regards,


Dan
  • #51
  • Feb 8, 2009 3:54pm Feb 8, 2009 3:54pm
  •  khaled
  • | Joined Jun 2006 | Status: A System is something u do EVERYDAY | 45 Posts
Quoting DanUK
Hi khaled,

To answer your questions...

[color=black]1. I don't post trades before I take them because this is not a predictive way of trading (and this really is just a journal to keep a record of how well things go, or not!). Also I am not a pro - I wouldn’t want anyone taking trades because I called them – as I could be wrong!!! Trading depends on where price is at the start of a new day and I will place my trade when the closest round number gets hit. I will however occasionally suggest an area that...
Hello Dan,

Thank you for the clarifications, looking forward to knowing your view for the next week

Regards
  • #52
  • Edited 9:45am Feb 9, 2009 4:10am | Edited 9:45am
Opened two short positions this morning:

Sell EUR/USD @ 1.2950 (Stopped out -100)

Sell GBP/USD @ 1.4800 (Stopped out at breakeven)

Both entries were based on trendlines as shown on my "analysis chart".

G/U got stopped out very quickly at breakeven! E/U is currently open but not much movement at the moment.

I did notice that the last wave down on E/U didn't make a new low. Could this be significant? Time to wait and see and let the market answer!

Update: Couldn't have been more wrong! Seems the E/U struggling to make a new low was significant!
  • #53
  • Edited 9:54am Feb 10, 2009 2:02am | Edited 9:54am
Two fairly clear entries this morning:

Sell EUR/USD @ 1.2950 (Stopped out at breakeven)

Buy GBP/USD @ 1.4800 (Stopped out at breakeven)
  • #54
  • Feb 11, 2009 2:35am Feb 11, 2009 2:35am
Another day, another dollar (I hope!).

E/U seems to be stuck in a range somewhere between 1.2800 and 1.3100 so I am not placing a standard entry today. Today I will enter using standard ranging methodology of buying the bottom and selling the top. So I am long as of 1.2900 with a 50 pip TSL (1.2850 would have been the best entry but I wasn't quick enough to enter).

G/U entry as per standard system rules. Sell @ 1.4500.

I must admit I have made a few errors over the last couple of days due to over-analyzing the market. Better to trade what you see happening rather than what you think is happening!
  • #55
  • Feb 16, 2009 12:52pm Feb 16, 2009 12:52pm
Dear Journal,

I’m sorry I have been neglecting you lately! In truth it’s because trading was very slow last week and only resulted in a loss!

The end of week results are:

EUR/USD -100
GBP/USD Breakeven

Total -100

Perhaps we’ll get a better week this week!
  • #56
  • Feb 23, 2009 12:18pm Feb 23, 2009 12:18pm
Ok so week seven went slightly better, although still pretty slow going. I am going to try and get back into posting my trades here a bit more as I've been slacking off lately.

Actually, the reason is that I've been spending a lot of time studying PA (James16 style) and have been thinking about starting a separate journal with PA trades with an aim to compliment what I am doing here.

Anyway, the end of week results are...

EUR/USD +200
GBP/USD +100

Total +300
  • #57
  • Feb 24, 2009 7:36am Feb 24, 2009 7:36am
Monday's positions have been closed... GBP/USD +100 and EUR/USD +100.

Back in E/U with a sell @ 1.2800 and am considering a long positon on G/U again - most likely @ 1.4400.
  • #58
  • Feb 24, 2009 11:31am Feb 24, 2009 11:31am
Great work. I've been busy testing out a few other things but I'm going to read your thread again today and begin placing some demo trades.

Quoting DanUK
Monday's positions have been closed... GBP/USD +100 and EUR/USD +100.

Back in E/U with a sell @ 1.2800 and am considering a long positon on G/U again - most likely @ 1.4400.
  • #59
  • Feb 24, 2009 12:20pm Feb 24, 2009 12:20pm
Quoting Siuol
Great work. I've been busy testing out a few other things but I'm going to read your thread again today and begin placing some demo trades.
Hi Siuol,

That's cool - I've taken the "explanation" of this method off of the first post as it was cluttering the page - but if you have any questions please ask!
  • #60
  • Feb 27, 2009 4:08am Feb 27, 2009 4:08am
I am still holding my E/U position from 25th Feb:

EUR/USD Sell @ 1.2850 - still holding with stop at +100

New position today is:

GBP/USD Sell @ 1.4300 - stop currently at breakeven
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