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My trades by Dave

  • #441
  • Nov 22, 2005 4:21pm Nov 22, 2005 4:21pm
Quoting xxDavidxSxx
Bea,

your s/l on your existing lot should be good there. That is exactly where I was gonna put mine but decided to take my profits because I got those 2 large stop outs last week to make up for.
According to e-wave wave C can go 68% of the previous wave 3. You got the waves down good there. Wach closly for the price to break above the last high 1.1830/40 range. If you see me entering a short trade near there than rethink exiting. My next trade will be short somewhere because now people are thinking Bull trend. We could have already seen the top of this rally too. It would be a double top with bearish divergance.

Dave
Thanks Dave
I am not gonna take unnecessary risks so i closed the last lot @1815 guauuuu
be +90 lets go with the minority.
bye
  • #442
  • Edited 4:42pm Nov 22, 2005 4:28pm | Edited 4:42pm
Racz,

here is my chart on this. 1.1770 is the 38.2 fibo. Thats kinda asking to get stopped out. Idealy a s/l placed near the 61.8 fibo is best but thats a huge stop. So just beyond 50% is 2nd best and 3rd would be just befor 50% fibo.
Thats based on my own observations of the eur/usd not any systems. Price usually stops just above or below the 50 befor resuming trend direction.

Dave

edit: I bet we could go back and count false trend breaks and average out what % liklyhood a real breakout could occure. 1 of 20, 1 of 10, 1 of 40 When I got time I might try doing this.

I do know the odds are its not gonna take a trend.

edit: over the past 3 years on the daily the current type of sideways action would see 6-10 waves befor a real break out. We are in 4.5 wave now from oct 2nd.
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  • #443
  • Edited 4:53pm Nov 22, 2005 4:48pm | Edited 4:53pm
ok short 1.1822

s/l tight at 1.1850

target:open

This is systematicly a good trade if done consistantly.

Dave
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  • #444
  • Nov 22, 2005 4:55pm Nov 22, 2005 4:55pm
On a move like that we should at least see some pullback off profit taking.

Dave
  • #445
  • Nov 22, 2005 5:23pm Nov 22, 2005 5:23pm
So. How do you know everybody's going long? Am very interested.

Thank you in advance for your comment.
  • #446
  • Nov 22, 2005 7:05pm Nov 22, 2005 7:05pm
Quoting xxDavidxSxx
Racz,

here is my chart on this. 1.1770 is the 38.2 fibo. Thats kinda asking to get stopped out. Idealy a s/l placed near the 61.8 fibo is best but thats a huge stop. So just beyond 50% is 2nd best and 3rd would be just befor 50% fibo....
I agree with you. SL @ 1.1770 is simply in place to book 50pips.
Now that you're short, I feel like closing the position and reverse .
just kidding.

If it gets hit great..., if it goes again to 1.1800/10 I will pull it.
I just checked TOPS and it was screaming to short EUR @ 1.1816.
Euro rarely moves more that 130pips a day so you should make nice profit on your short trade.

..
  • #447
  • Nov 22, 2005 8:03pm Nov 22, 2005 8:03pm
Quoting Faqoff
So. How do you know everybody's going long? Am very interested.

Thank you in advance for your comment.
I don't know. It's all just based on educated guess.

theoreticly the break back above 1.1800 would take the pressure off the down side.

Dave

edit: fxcm has in there position summery a long posotion. The news they post I consider to be an influence to keep the majority thinking what they want you to think.
  • #448
  • Nov 23, 2005 11:30am Nov 23, 2005 11:30am
Quoting xxDavidxSxx
ok short 1.1822

s/l tight at 1.1850

target:open

This is systematicly a good trade if done consistantly.

Dave
stop hit -28pips

I was right about the 1.1760 stop being good but placed my stop too tight.

price still hanging around 1.1800 with a bid tone.I will long on any failed attemp at making new lows. 1.1760/70 range. Or short failed attempts at new highs. 1.1850/60 range

Dave
  • #449
  • Nov 23, 2005 3:46pm Nov 23, 2005 3:46pm
short 1.1819

s/l 1.1860

target open.

could be a head and shoulders forming.
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  • #450
  • Nov 23, 2005 8:09pm Nov 23, 2005 8:09pm
Quoting xxDavidxSxx
short 1.1819

s/l 1.1860

target open.

could be a head and shoulders forming.
Hi Dave
I did not trade today,( shopping for tomorrow) now after your analysis i go short @1.1811 with 2 lots, placed a sl above the first pivot resistance @1.1870. first target 1762
I wish you and all people in your thread a happy Thanksgiving.
Good trades
  • #451
  • Nov 24, 2005 9:07am Nov 24, 2005 9:07am
Quoting xxDavidxSxx
short 1.1819

s/l 1.1860

target open.

could be a head and shoulders forming.
PT: 1.1786

+33 pips

Pulling out because london will close soon and USA is on holliday. Market will be thin and prime for stop hunting

Happy Thanksgiving to all!

Dave
  • #452
  • Nov 24, 2005 9:20am Nov 24, 2005 9:20am
Weekly trade update:


+43
+94
+33
+170 winnings

-28 losses

Total: +142 winnings

Theres my correct win/loss ratio again, win 3 out of 4 but if you count the 3 wins at the end of last week that gives me a 6 out of 7 and add the 2 loses its 6 of 9.
So for the 2 weeks its 66.6% wins. At the end of Dec. Will be 3 months so I'll do a quarterly summery as to wins/losses, and what my win % is. I expect the total win % to be above 70.

Dave
  • #453
  • Nov 24, 2005 9:35am Nov 24, 2005 9:35am
Congrats on the consistancy.
Keeping it Simple
  • #454
  • Nov 24, 2005 1:58pm Nov 24, 2005 1:58pm
Dave,
can you comment on my numbering please ... only if you have the time.

http://www.forexfactory.com/forexfor...1535#post31535

Thanx
Habeeb
Keeping it Simple
  • #455
  • Nov 24, 2005 10:24pm Nov 24, 2005 10:24pm
short gbp/usd

entry:1.7228

s/l: 1.7265

target open
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  • #456
  • Nov 25, 2005 6:32am Nov 25, 2005 6:32am
Quoting xxDavidxSxx
short gbp/usd

entry:1.7228

s/l: 1.7265

target open
PT:1.7200

+28 pips

got a doji on 4 hr chart so I'll get out here.

Dave
  • #457
  • Nov 25, 2005 8:19am Nov 25, 2005 8:19am
Quoting xxDavidxSxx
PT:1.7200

+28 pips

got a doji on 4 hr chart so I'll get out here.

Dave
weekly total revised from new trade.

+142
+28

+170 winnings for the week

Dave
  • #458
  • Nov 25, 2005 9:01am Nov 25, 2005 9:01am
short eur/usd
entry 1.1756

s/l 1.1810

target open pending break below 1.1738

this is just a short term small trade

Dave
  • #459
  • Nov 25, 2005 9:16am Nov 25, 2005 9:16am
Quoting xxDavidxSxx
short eur/usd
entry 1.1756

s/l 1.1810

target open pending break below 1.1738

this is just a short term small trade

Dave
approching a trend line

PT: 1.1729

+27 pips
  • #460
  • Nov 25, 2005 9:20am Nov 25, 2005 9:20am
Long entry 1.1728

s/l 1.1695

target open



Dave
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