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My trades by Dave

  • #301
  • Oct 31, 2005 7:33pm Oct 31, 2005 7:33pm
Quoting xxDavidxSxx
PT: - 21 pips

my s/l had trailed up and just got hit.....good!
Now I can stop sweating it and make a more comfortable trade at a later time.
Dave

Hello Dave,

Nice journal. I enjoy reading it. You've made quite a progress since you moved it from learncurrenctra ding.com/fxforum . I certain you continue to do well and keep posting so I get a chance to learn more.
I will go short EUR/USD @ 1.1995/99 sl 1.2030 tp 1.1940

Mark
Attached File(s)
File Type: doc Eu4h.doc   97 KB | 431 downloads
  • #302
  • Oct 31, 2005 9:37pm Oct 31, 2005 9:37pm
Quoting raczekfx
Hello Dave,

Nice journal. I enjoy reading it. You've made quite a progress since you moved it from learncurrenctra ding.com/fxforum . I certain you continue to do well and keep posting so I get a chance to learn more.
I will go short EUR/USD @ 1.1995/99 sl 1.2030 tp 1.1940

Mark
Thanks...glad you could join.
I hope I can live up to the expectations I have established over the past month.

Dave
  • #303
  • Oct 31, 2005 9:42pm Oct 31, 2005 9:42pm
Asia trading is nonexsistant past few days.

I might flip my schedual and sleep from 6pm EDT to 2 am EDT.

sell signal on RSI and stoch 30 min chart. Should be good
I am sidelining it my self. (mental trade.) Make any targets small...15-20 pips

Dave
  • #304
  • Oct 31, 2005 9:50pm Oct 31, 2005 9:50pm
Quoting xxDavidxSxx
Asia trading is nonexsistant past few days.

I might flip my schedual and sleep from 6pm EDT to 2 am EDT.

sell signal on RSI and stoch 30 min chart. Should be good
I am sidelining it my self. (mental trade.) Make any targets small...15-20 pips

Dave
Using RSI trend line cross for a signal as to wich way it will break out of consilidation.

Stochs just crossed to down side too.

Again small targets.

look for a false break out top side to enter a short.

Dave
Attached Image
  • #305
  • Nov 1, 2005 3:11am Nov 1, 2005 3:11am
I use fxcm broker. I also use fxstreet.com chart along with fxcm power chart.

fxcm delays there price movement.

If you use fxcm i suggest using another source of charts in addition to theres.

Dave
  • #306
  • Nov 1, 2005 8:19am Nov 1, 2005 8:19am
Quoting bea
the pair that is moving now is the usdjpy it has a daily res @116.73 this is a good area to sell
i placed an order to sell 1 lot @116.75 sl 117.
Now i am [email protected] i go for 20 pips or SAR @116.30

I wait to see what dave thinks about the fiber.i will go short if breaks 1965.
good luck
I got my 20 pips, now i am short from 116.75 i moved the sl to brakeven , short 1lot more @116.30
good trades , you are the luck
  • #307
  • Nov 1, 2005 11:11am Nov 1, 2005 11:11am
good job Bea

My origonal long from 1.1974 on eur would have payed off 40 pips if I would have held it.
I am not going to trade aisa any more, thats what messed me up. False signals during consilidation. Past few months there would be a move between 7pm-10pm EDT but last 2 weeks haven't been like that.Usually the longer the consilidation the bigger the break out but not lately.
I have some side work I have to do after work this week so I might not have time to make any observations.

happy trading

Dave
  • #308
  • Nov 1, 2005 3:48pm Nov 1, 2005 3:48pm
Quoting xxDavidxSxx
good job Bea

My origonal long from 1.1974 on eur would have payed off 40 pips if I would have held it.
I am not going to trade aisa any more, thats what messed me up. False signals during consilidation. Past few months there would be a move between 7pm-10pm EDT but last 2 weeks haven't been like that.Usually the longer the consilidation the bigger the break out but not lately.
I have some side work I have to do after work this week so I might not have time to make any observations.

happy trading

Dave
Thank you Dave
It is very frustrating to realise that you were right in your entry and also in the Target is difficult now to know where the eur is going , meanwhile the yen is clearer, i can see a rebound in the yen , the chart i attach show that it is near the zone of 116.80 i definitely go short at his area.
  • #309
  • Nov 1, 2005 3:59pm Nov 1, 2005 3:59pm
here is the chart
Attached Image
  • #310
  • Nov 1, 2005 9:42pm Nov 1, 2005 9:42pm
Nice use of dynamic trend lines.
I find they work well.

The lesson I learned is trust my first instinct. And wait till late to trade.:
Too much time in consilidation will drive me nuts and cloud my judgement with false signals no matter the technique.

Dave
  • #311
  • Nov 1, 2005 10:06pm Nov 1, 2005 10:06pm
Short

entry 1.2035
s/l reverse: 1.2048
target open

reverse long s/l is 1.2000
Target top trend line.

Could be a double top if don't break 1.2040 or a wave 5 to top trend line.

Dave

edit: I expect it to go up but If not I got prime short position. And a 1-3 pip break is not valad to me I like at least 5 pip break. Never know bout fxcm.
Attached Image
  • #312
  • Nov 1, 2005 10:17pm Nov 1, 2005 10:17pm
If long trade triggers I need a s/l below bottom trend line. Reaching that high over the break should increase odds that bottom trend line will hold and it will target the top trend line.

Would be nice to see a rally streight to top but not likely. Some kind of pull back is comming. Some one could wait and enter long at pull back but might not reach bottom trend line.

My charts broke 1.2040 and hit 1.2042 offer price. So bias is still up. But 2 pips could be fxcm thing Make people go long and get stopped out on the pull back.

Dave
  • #313
  • Nov 1, 2005 10:46pm Nov 1, 2005 10:46pm
Here is 5 min chart on short trade if long isn't triggered.

A break of bottom trend line targets bottom 30 min trend line for exit.

Those are also good to wach for entry.

Dave
Attached Image
  • #314
  • Nov 1, 2005 10:58pm Nov 1, 2005 10:58pm
Here is what I got on JPY..4 hr chart

I got 2 dynamic trend lines and still a 3rd one needed befor a pullback.

RSI/Stochs have lots of room to move up still.

Dave
Attached Image
  • #315
  • Nov 1, 2005 11:12pm Nov 1, 2005 11:12pm
Quoting xxDavidxSxx
Short

entry 1.2035
s/l reverse: 1.2048
target open

reverse long s/l is 1.2000
Target top trend line.

Could be a double top if don't break 1.2040 or a wave 5 to top trend line.

Dave

edit: I expect it to go up but If not I got prime short position. And a 1-3 pip break is not valad to me I like at least 5 pip break. Never know bout fxcm.
-16 pips
long triggered.

Dave
  • #316
  • Edited 11:49pm Nov 1, 2005 11:43pm | Edited 11:49pm
Check this out..

I found a system that filtered that long consilidation and look at the acuracy on entry/exits.

All it is, is 7 EMA and 10 SMA crossover. 1 hr chart


If I would have used this simple system past few days I would have banked.

I will wach this for long term acuracy. Even those small minor cross overs would get 10-15 pips each. I donn't see a losing crossover on this one.

Dave

red=short
blue=long
green=exit
black=entry
Attached Image
  • #317
  • Nov 2, 2005 8:18pm Nov 2, 2005 8:18pm
Well looks like it happened. ....pull back then rally up
. My s/l recomendation was off though.

That 7/10 cross over on the other hand is working out great.
The blue arrow for buy is right about 1.2010. The exit befor that was 1.2090 so I woulda put s/l at 1.2080 and would have been safe.
I am not trading real money this week while I wach the 7/10 system on my demo account.
Yesterday I just started putting MA's togeather until I found a set that filtered the consilidation and at the same time gave signals befor macD and other systems. MaCD gives either too early or to late signals.
The 7/10 only looks to be good on the 1 hr chart though. I am exited about it.


Dave
  • #318
  • Edited 8:35pm Nov 2, 2005 8:25pm | Edited 8:35pm
1 more thing on the 7/10 system.

When I put the ma's in the chart with the price it crosses different.
When I put them in a seperate window like on the posted chart they work out better for some reason. They look to be ok either way just better in there own window.

Dave

edit: the chart I posted is from fxstreet.com charts console.
I just put it on my demo account chart 1 hr and it crosses different.
  • #319
  • Nov 2, 2005 8:35pm Nov 2, 2005 8:35pm
here they are...
Attached Image
  • #320
  • Nov 2, 2005 8:36pm Nov 2, 2005 8:36pm
and the other..

let me change the colors...
Attached Image
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