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DanUK Simple EUR/USD Trading Journal 2009

  • #641
  • Oct 16, 2009 2:32am Oct 16, 2009 2:32am
Quoting herzog21
meaning u will only wait till price has dropped back to the 1.6000 level? why not till the 1.6200 or even 1.6100 levels?
Because there is greater confluence at 600 level.

The down trend is still intact imo. 300 saw some sellers and also 400. There are a couple more SR levels above these two. If you pick levels with good confluence then why worry about whether you will be wrong or right. Dan has given a very simple system, you have to make it your own and follow your rules. If you start getting scared about entering then you will miss good opportunities and ultimately blow your account.

I was out for breakeven from the 300 level and have a breakeven trade from the 400 level (sellers from within previous SR channel).

Edit: Now +50 trail.
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  • #642
  • Oct 16, 2009 3:06am Oct 16, 2009 3:06am
pp,

your charts are a bit unclear. essentially you seem to trading trend line bounces and s/r bounces?

Quoting Porkpie
Because there is greater confluence at 600 level.

The down trend is still intact imo. 300 saw some sellers and also 400. There are a couple more SR levels above these two. If you pick levels with good confluence then why worry about whether you will be wrong or right. Dan has given a very simple system, you have to make it your own and follow your rules. If you start getting scared about entering then you will miss good opportunities and ultimately blow your account.

I was out for breakeven from the 300 level and have a breakeven trade from...
  • #643
  • Oct 16, 2009 3:30am Oct 16, 2009 3:30am
Hi Cool,

Sorry about the chart.

Yes its basic Sam Seiden SR levels and if I see confluence of round numbers, fibs and trendlines, all the better. The SR levels have a set of probability enhancer criteria themselves, and I am always watching for SR areas on the weekly charts to ensure I am not buying into larger time frame supply levels or selling into larger time frame demand levels. Any long trades will only be justified once we hit higher highs though. I wouldn't be surprised if GU ended up back into a range.

GU out + 50 :-(
  • #644
  • Oct 16, 2009 6:50am Oct 16, 2009 6:50am
Congratulations Dan, you will have your hands full now!

Quoting DanUK
Hi guys,

Sorry I haven't been around lately - my wife had our second baby on the weekend and we also moved house this week so I haven't had any time to post anything!

Once things are a bit more settled at home I will be back!

Thanks for keeping the thread alive whilst I'm away!

Regards,


Dan

PS... I will try and answer all questions directed at me later on today!
  • #645
  • Oct 16, 2009 7:05am Oct 16, 2009 7:05am
Quoting Porkpie
Hi Cool,

Sorry about the chart.

Yes its basic Sam Seiden SR levels and if I see confluence of round numbers, fibs and trendlines, all the better. The SR levels have a set of probability enhancer criteria themselves, and I am always watching for SR areas on the weekly charts to ensure I am not buying into larger time frame supply levels or selling into larger time frame demand levels. Any long trades will only be justified once we hit higher highs though. I wouldn't be surprised if GU ended up back into a range.

GU out + 50 :-(
Ye Sam Seiden sure opened my eyes to this crazy world .
Watching a few of his webinars on f.x street sure improved HOW i look at the market. If anyone of you guys havent seen it i suggest you do. type his name becuase he has a knack for explaining supply/demand.
  • #646
  • Oct 16, 2009 9:31am Oct 16, 2009 9:31am
Sold gu @1.6350 see how it goes.
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  • #647
  • Oct 16, 2009 9:49am Oct 16, 2009 9:49am
hi castlerocks, it seems to me that gu is congregating ard 1.6350 so isn't it better to wait till monday for a clearer picture to develp?
  • #648
  • Oct 16, 2009 9:54am Oct 16, 2009 9:54am
castle, can i ask why your fib is from high of 8/9 and not from the more recent high of 11/9?



Quoting castlerock
Sold gu @1.6350 see how it goes.Attachment
  • #649
  • Oct 18, 2009 9:26am Oct 18, 2009 9:26am
hI coolshades, the 9/11 fib gave us the 16200/16250, after it broke thru the inner trendline it just smashed thru the 61000 the 9/11 fib also sat in the middle of the too trendlines was not keen at this point looking for something closer to the outer trendline pushed the fib back to the start of that trendline and it just happen to give the 16400 area which was where i was keen on for a sell i have pushed fibs like this back before and it is quite effective but again it is discretionary hope this explains my reasoning [or madness].
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  • #650
  • Oct 18, 2009 9:28am Oct 18, 2009 9:28am
just ignore the chart i have posted wrong chart sorry
  • #651
  • Oct 18, 2009 9:43am Oct 18, 2009 9:43am
Hi herzog, you might be right on waiting till monday but at the time i thought there was a bit off a battle going on at this area and it was an area i thought it might turn round a few things i look for in a trade were lining up here and i could not see a reason for not getting in so i took it .
  • #652
  • Oct 18, 2009 3:37pm Oct 18, 2009 3:37pm
makes sense i guess. i was looking at the lower fib area. anyway, i am in too.


Quoting castlerock
hI coolshades, the 9/11 fib gave us the 16200/16250, after it broke thru the inner trendline it just smashed thru the 61000 the 9/11 fib also sat in the middle of the too trendlines was not keen at this point looking for something closer to the outer trendline pushed the fib back to the start of that trendline and it just happen to give the 16400 area which was where i was keen on for a sell i have pushed fibs like this back before and it is quite effective but again it is discretionary hope this explains my reasoning [or madness].
  • #653
  • Oct 19, 2009 2:37am Oct 19, 2009 2:37am
morning folks (here GMT+1), looks like GU might be having another attempt...
  • #654
  • Oct 19, 2009 3:43am Oct 19, 2009 3:43am
yup. in on sell at 635, and already moved to b/e so sitting back and enjoying the ride now. guess castle is in same position.

Quoting Porkpie
morning folks (here GMT+1), looks like GU might be having another attempt...
  • #655
  • Oct 19, 2009 3:44am Oct 19, 2009 3:44am
gu now at breakeven from 1.6350 entry
  • #656
  • Oct 19, 2009 3:47am Oct 19, 2009 3:47am
C/R, that was a good entry. i shd read fibs like that. thks.

btw am also in on nzdusd, see other thread.

Quoting castlerock
gu now at breakeven from 1.6350 entry
  • #657
  • Oct 19, 2009 3:55am Oct 19, 2009 3:55am
Quoting coolshades
C/R, that was a good entry. i shd read fibs like that. thks.

btw am also in on nzdusd, see other thread.
I seen your chart on nzd, im still waiting on 1.0100 to lock in 200pips usd/chf looks like it might hit today.
  • #658
  • Oct 19, 2009 3:57am Oct 19, 2009 3:57am
thats good going. i dont follow usdchf, maybe i shd.

Quoting castlerock
I seen your chart on nzd, im still waiting on 1.0100 to lock in 200pips usd/chf looks like it might hit today.
  • #659
  • Oct 19, 2009 6:40am Oct 19, 2009 6:40am
Quoting castlerock
I seen your chart on nzd, im still waiting on 1.0100 to lock in 200pips usd/chf looks like it might hit today.
Hi castlerock,

Just a quickie.

How many markets are you watching at any given time and which ones if i may ask? Is it just fx or are you watching anything else such as commods..?

You seem to be doing rather well are you just applying this method or are you doing anything else?

Thanks.
  • #660
  • Oct 19, 2009 9:16am Oct 19, 2009 9:16am
Hi pip, just fx at the moment the pair's I've been doing are GU EU UJ UC watching AU NU EJ GJ and a couple of others and applying this method and so far results are just as good as the GU EU results which i don't see why not you could apply this to anything that trends just look at Dans results as for adding anything to this method when i pull up the 50%fib i do like to see it fall on or near previous S/R levels which the 50%fib has an uncanny habit of doing apart from that trying to keep as close as i can to this method.
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