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DanUK Simple EUR/USD Trading Journal 2009

  • #241
  • Aug 3, 2009 3:45am Aug 3, 2009 3:45am
Quoting Jpnek
I'd be pretty much interested in this. Which crosses are you planning to trade? Will you stick to higher TFs (H4 and up)? Will they be Jacko style trades only... TLs, 50% fibs, S/Rs?
Quoting Jpnek

Cheers,


Yes it will be Jacko style only on H4 and above. I haven't decided which crosses yet but I will be keeping my eyes open to all possibilities. I may also consider talking about other markets too.

The only other thing I will be keeping a watch on is bar/candlestick patterns; although I do not trade them as part of Jacko’s method I do still like to be aware of them and what they might be telling me!

Regards,

Dan
  • #242
  • Aug 3, 2009 8:20am Aug 3, 2009 8:20am
Quoting DanUK
Yes it will be Jacko style only on H4 and above. I haven't decided which crosses yet but I will be keeping my eyes open to all possibilities. I may also consider talking about other markets too.
The only other thing I will be keeping a watch on is bar/candlestick patterns; although I do not trade them as part of Jacko’s method I do still like to...
Hey Dan,

I'd be even more interested in this. Although I trade Jacko style, most of the times I do enter/exit my trades based on PA setups. I believe that many times patterns can show the hidden side of the story.

Quoting DanUK
Good luck with your trade!
I wasn't as lucky on this trade. After being almost 100 pips in the green, PA reversed on me and stopped me out at B/E. At least I didn't take a loss. I was telling a fellow trader how one of the hardest things to balance in my trading career is when to let a trade breath (shooting for the bigger profits) and when to just take profits and run... LOL.

BTW, are you using some kind of exotic style sheets in your posts... every time I reply to one of your posts I get a bunch of formatting code.
  • #243
  • Aug 3, 2009 11:26am Aug 3, 2009 11:26am
im in,the method is sound,and can be traded on a few pairs,ranging marktets.can be left alone untill they start trending again.euro shocked me today im flat now but will post,when i like a entry.im i sad i exited the cable trade,only a little im only human lol
student
  • #244
  • Aug 3, 2009 1:06pm Aug 3, 2009 1:06pm
Hi,

I think PA setups are definitely worth watching - and if you get a good setup at an area you are watching then it adds one more reason to pull the trigger. I think confluence is the word that people like to use and I am all for it!

I know what you mean - I was short GBP/CHF at the end of last week and that one got stopped out at breakeven. It is frustrating but like you said at least it wasn't a loss.

I will be looking to 1.6600 on GBP/USD next (assuming it does eventually retrace). With a bit of luck we might get to see some decent PA there!

Regards,


Dan

PS I don't think I have any style sheets invoked! Although I too find strange things happen when I am replying to people!

Quoting Jpnek
Hey Dan,

I'd be even more interested in this. Although I trade Jacko style, most of the times I do enter/exit my trades based on PA setups. I believe that many times patterns can show the hidden side of the story.



I wasn't as lucky on this trade. After being almost 100 pips in the green, PA reversed on me and stopped me out at B/E. At least I didn't take a loss. I was telling a fellow trader how one of the hardest things to balance in my trading career is when to let a trade breath (shooting for the bigger profits) and when to just take...
Attached Image (click to enlarge)
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  • #245
  • Aug 3, 2009 2:23pm Aug 3, 2009 2:23pm
July was a slow month for me. Both E/U and G/U were predominantly stuck in a range which presented very few opportunities to trend-trade. Overall I am still happy that I had a positive month of course!

EUR/USD

Total Pips Won: 200
Total Pips Lost: 0

Profit: 200

GBP/USD

Total Pips Won: 400
Total Pips Lost: 0

Profit: 400

TOTAL

Total Pips Won: 600
Total Pips Lost: 0

Profit: 600
Attached Image (click to enlarge)
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Attached Image
  • #246
  • Aug 8, 2009 3:17pm Aug 8, 2009 3:17pm
Hi Dan
I can honestly say yours is one of my favourite posts on FF.
Jully a slow month ? 600 pips incredible !
I have been following your trading for some time, spectacular results.
I am very new to forex but I am loving yours and Jacko's style.
I know you went live recently.
Do you now trade for a living?
I am working with my charts to test them with your method of week, day trend lines and S/R, plus round numbers.
I will be checking here often in the future.
Thanks Dan you really make things clear.
  • #247
  • Aug 9, 2009 4:30pm Aug 9, 2009 4:30pm
Quoting garyfb
Hi Dan
Quoting garyfb
I can honestly say yours is one of my favourite posts on FF.
Jully a slow month ? 600 pips incredible !
I have been following your trading for some time, spectacular results.
I am very new to forex but I am loving yours and Jacko's style.
I know you went live recently.
Do you now trade for......
Hi Garyfb,

Thanks for your kind words. I am glad to have been of some assistance!

I do not currently trade for a living. I have a full time job that I enjoy and I am using my Forex trading to provide an early retirement fund. Maybe one day, if that fund becomes big enough, I might become a full time trader!

If you have any other questions about the method please feel free to ask, I am happy to help.

Regards,


Dan
  • #248
  • Aug 9, 2009 4:47pm Aug 9, 2009 4:47pm
Is it Monday morning a bad moment to trade? I think most experienced traders avoid this. The price should start rising back to follow the main trend. At least for EUR. For GBP I think there is still some room for retracement until 1.6600. Who knows what this week might bring.
  • #249
  • Aug 9, 2009 4:52pm Aug 9, 2009 4:52pm
Quoting fxacs
Is it Monday morning a bad moment to trade? I think most experienced traders avoid this. The price should start rising back to follow the main trend. At least for EUR. For GBP I think there is still some room for retracement until 1.6600. Who knows what this week might bring.

Hi Fxacs,

I am hoping that we will see both pairs resume their upward path this week. I agree too that there could be room for a bit more retracement on GBP.

As for Monday morning trading... I am not sure, I suppose it depends what time zone you are in. I am GMT+1 so my trading day starts with the London open which always seems to be a good time to trade!

Regards,

Dan
  • #250
  • Aug 9, 2009 5:04pm Aug 9, 2009 5:04pm
i am still reading this useful thread.. thanks for u DanUK
Never sell @ lower upward channel unless breacked and vise versa .
  • #251
  • Aug 9, 2009 5:21pm Aug 9, 2009 5:21pm
I love this thread DanUK, although i have different style of trading but your thread give me inspiration. Keep it up
  • #252
  • Aug 9, 2009 5:36pm Aug 9, 2009 5:36pm
Quoting DanUK
Yes I had that on my radar too - although ideally I would like to see it move to the 1.4150 area, this would also then coincide with the 50% fib retracement and the trendline I have drawn.

Wow! the price just come down as you predicated 1.4150 ..

can you show me the image chart which let you say the price will move to 4150 ?

thanx in advance.
Never sell @ lower upward channel unless breacked and vise versa .
  • #253
  • Aug 10, 2009 3:13am Aug 10, 2009 3:13am
Yes, I would also like to see that image because 1.4150 seems to be more close to 61.8 Fibonacci level.

Thanks again Dan.
  • #254
  • Aug 10, 2009 6:03am Aug 10, 2009 6:03am
Quoting WedWed
Wow! the price just come down as you predicated 1.4150 ..

can you show me the image chart which let you say the price will move to 4150 ?

thanx in advance.
Hi guys,

I have attached a picture of my EUR/USD chart. For me, 1.4150 appears to be an important level of support & resistance. It also coincides with an upward trendline which I like! It is below the 50% fib level (closer to the 61.8% fib level) which suggests to me that it had moved a reasonable distance for a retracement.

Of course it is quite possible that the next stop will be further south; but for me this level is good enough to take the risk. If it goes pear shaped I will consider using the anti-hedge strategy. For now, it is time to sit back and wait.

Regards,

Dan
Attached Image (click to enlarge)
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  • #255
  • Aug 10, 2009 6:04am Aug 10, 2009 6:04am
A close up...
Attached Image (click to enlarge)
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  • #256
  • Aug 10, 2009 7:32am Aug 10, 2009 7:32am
Yes, now I understand where did you get 1.4150. Thank you for explanation. I lose some info by using a bad zoom. What do you mean by sit back and wait? Wait after posting the order or wait to post the order? For the the "signs" are clear. Am I missing something? What else should I consider before posting the order?
  • #257
  • Aug 10, 2009 7:44am Aug 10, 2009 7:44am
Quoting fxacs
Yes, now I understand where did you get 1.4150. Thank you for explanation. I lose some info by using a bad zoom. What do you mean by sit back and wait? Wait after posting the order or wait to post the order? For the the "signs" are clear. Am I missing something? What else should I consider before posting the order?
No you're not missing anything! I meant to sit back and wait after posting the order... i.e. to see what happens with the trade!
  • #258
  • Aug 10, 2009 8:08am Aug 10, 2009 8:08am
I see now. Thank you again Dan. Your explanations are more than clear and I think they helped many people here.

For GBP the same thing seems to be happening. The price dropped a little under 1.6600 which is a SR level and around 61.8 fibonacci level. This could be a good entry point.
  • #259
  • Aug 10, 2009 8:54am Aug 10, 2009 8:54am
Quoting fxacs
For GBP the same thing seems to be happening. The price dropped a little under 1.6600 which is a SR level and around 61.8 fibonacci level. This could be a good entry point.
Yeah I agree with you. I will be watching that area to see what happens next.
  • #260
  • Aug 10, 2009 10:11am Aug 10, 2009 10:11am
Hi Dan and friends,

I have a bad feeling about that gbp/usd pin bar on the weekly chart now,
looks like it's in freefall at the moment.
eur/usd folowing, may have to use that jacko AH for the first time.
Im still in the eur/usd long from 1.4200. bugger!
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