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Dan Gilbert's random trade report. (realtime)

  • #1
  • First Post: Oct 22, 2009 8:28pm Oct 22, 2009 8:28pm
I decided I need to make a thread to record my trades. I don't really have a set "plan" right now, and I'm still demo trading. I hope I can get some input from the real profitable traders on here when I'm doing something wrong. I'll post a picture with every trade I take, and every trade I feel like posting. I'm very new to this game but I want this to be something I can look back on in the future and hopefully see how far I've come

For interpretation of my horizontal lines:
blue line: order placed
red line: S/L
green line: T/P

my trend lines are also red.
Many choose unhappiness over uncertainty.
  • #2
  • Oct 22, 2009 8:33pm Oct 22, 2009 8:33pm
as it says in the title, "realtime" - this means I'm going to be posting a trade as I take it.

trade #1:

I took this short on EURUSD H1 just now, based on RSI divergence, and a strong pinbar.

S/L: top of pinbar
T/P: 61.8% retracement of the upswing on the chart

http://i380.photobucket.com/albums/o...h32/trade1.gif
Many choose unhappiness over uncertainty.
  • #3
  • Oct 22, 2009 8:51pm Oct 22, 2009 8:51pm
trade #2

This is actually a trade I took at 19:45 GMT. Again, another divergence trade, just a few more pips to go before it his my T/P line.

(note the red trendlines to see where I'm seeing the divergence)

Trade placed: 91.35
T/P: 91.62
S/L: 91.20

http://i380.photobucket.com/albums/o...h32/trade2.gif

I chose 91.62 as a T/P because it has been a strong support/resistence area since early september, as you can see by this chart:

http://i380.photobucket.com/albums/o...32/trade2b.gif
Many choose unhappiness over uncertainty.
  • #4
  • Edited 11:08pm Oct 22, 2009 8:53pm | Edited 11:08pm
TRADE #2: CLOSED.

+27 pips, minus spread.
Many choose unhappiness over uncertainty.
  • #5
  • Oct 22, 2009 9:13pm Oct 22, 2009 9:13pm
I have another RSI divergence trade brewing on USDCHF right now, on the 1 hr chart. Unfortunately i would be going against the trend in a BIG way (as you can see by the trend line going down over the tops of the bars) in order to go long here, so I'm going to just watch this one until the 4 bar closes and then maybe I can make a more informed decision...

I'm short on the EUR right now so going long on USD would coincide with my other decisions at this point.... stay tuned!

http://i380.photobucket.com/albums/o...aybetrade3.gif
Many choose unhappiness over uncertainty.
  • #6
  • Oct 22, 2009 9:31pm Oct 22, 2009 9:31pm
another possible 4hr pinbar with divergence forming on GBPUSD.

Once again, I'm going to be against the trend in a BIG way here if I want to short this, so i would have to be very "non-greedy" in my TP line, so the R:R might not even be worth it.... we'll see.

http://i380.photobucket.com/albums/o...trade4brew.gif
Many choose unhappiness over uncertainty.
  • #7
  • Oct 22, 2009 10:02pm Oct 22, 2009 10:02pm
TRADE #3

ok, I decided to go long on USDCHF, I have a lousy R/R but I'll take the trade for the sake of my thread here

TP: 1.0086
SL: 1.0031

http://i380.photobucket.com/albums/o...h32/trade3.gif
Many choose unhappiness over uncertainty.
  • #8
  • Oct 22, 2009 11:03pm Oct 22, 2009 11:03pm
TRADE #4:

Ok, I shorted GBPUSD on the 4hr pin close. Looks good, here is the setup on the 1HR chart. check the 4hr chart on your platform for similar divergence/pin readings.

PICTURE:
S/L: 1.6675
T/P: 1.6581

http://i380.photobucket.com/albums/o...h32/trade4.gif
Many choose unhappiness over uncertainty.
  • #9
  • Oct 22, 2009 11:06pm Oct 22, 2009 11:06pm
ok, I'm going to bed now, I do see all the eur reports coming out on the homepage of FF, but I'm going to just let these things go all night (this is a demo account, after all). Worst case scenario: I get some lulz from watching every trade go against me .

And yes, I do realize opening 3 positions simultaneously, every position bullish on USD isn't exactly diversification - but I'm going to run with it on my demo.
Many choose unhappiness over uncertainty.
  • #10
  • Oct 23, 2009 7:17am Oct 23, 2009 7:17am
TRADE #4: CLOSED.
-36 pips

the news release on GBP/USD hit my stop, then proceeded to go 100% (and beyond) in my direction... As is the usual result when trading around big news releases. My EURUSD and USDCHF are still open.

here is #4's fate (order was placed at light gray verticle line):

http://i380.photobucket.com/albums/o...rade4close.gif
Many choose unhappiness over uncertainty.
  • #11
  • Oct 23, 2009 8:24am Oct 23, 2009 8:24am
Nice system you got going here Dan! I'll be watching with interest. I got hurt on that GU move as well, and worse then you since I was trying to take a scalp trade long and didn't have my stop in yet, like I normally do.

Best of Luck!

Dan


Quoting Dan Gilbert
TRADE #4: CLOSED.
-36 pips

the news release on GBP/USD hit my stop, then proceeded to go 100% (and beyond) in my direction... As is the usual result when trading around big news releases. My EURUSD and USDCHF are still open.
  • #12
  • Oct 23, 2009 8:30am Oct 23, 2009 8:30am
a good analysed trade set up.

keep it up.

could you share your yahoo /g-talk id so that we can hv more interaction

rgds
smok
  • #13
  • Oct 23, 2009 1:48pm Oct 23, 2009 1:48pm
TRADE #3: CLOSED (USDCHF)
+25 pips

I locked the profits on my long position on USDCHF@ 14:00GMT (as seen by the 14:00 candle smacking my T/P line).

Great trade, despite the lousy risk/reward. (note, I took the trade where the light gray vertical line is)

http://i380.photobucket.com/albums/o...rade3close.gif
Many choose unhappiness over uncertainty.
  • #14
  • Edited 2:31pm Oct 23, 2009 2:01pm | Edited 2:31pm
TRADE #1: CLOSED
+20 pips

Ok, my EURUSD got shut down just now by myself manually. Here are the reasons why:

1. it appears as though 1.5000 has become a VERY strong new support line (as seen in my picture below)
2. There is an obvious pinbar with divergence on my chart below, that would be an excellent spot to go long (if today wasn't a Friday)
3. It's Friday and I'm looking to close up my positions for the weekend.

Also, in hindsight, using the 1.5000 line as a T/P would have been a very reasonable decision for me to make.... but I did catch some kind of profit out of this trade


information on my picture: the green DOTTED line was the price in which I manually closed my position, the green SOLID line was my original T/P plan when I placed the trade. the light gray verticle line is where I placed my short position.

http://i380.photobucket.com/albums/o...rade1close.gif
Many choose unhappiness over uncertainty.
  • #15
  • Oct 23, 2009 2:05pm Oct 23, 2009 2:05pm
also, I want to note to anyone looking to go for a long position on EURUSD, - NOW IS THE TIME. There is RSI divergence on the 1 hr chart, and the candle is touching down on a very strong, long-term upward sloping support line (support line can be drawn clearly on 4hr, and 1 hr charts).
Many choose unhappiness over uncertainty.
  • #16
  • Oct 23, 2009 2:15pm Oct 23, 2009 2:15pm
Quoting dbeach777
Nice system you got going here Dan! I'll be watching with interest. I got hurt on that GU move as well, and worse then you since I was trying to take a scalp trade long and didn't have my stop in yet, like I normally do.

Best of Luck!

Dan
The real bummer about this trade is how it did go in my favor, immediatly after hitting my S/L. I can't really complain though, I was the one who decided to trade before news .
Many choose unhappiness over uncertainty.
  • #17
  • Oct 25, 2009 4:09pm Oct 25, 2009 4:09pm
Quoting Dan Gilbert
also, I want to note to anyone looking to go for a long position on EURUSD, - NOW IS THE TIME. There is RSI divergence on the 1 hr chart, and the candle is touching down on a very strong, long-term upward sloping support line (support line can be drawn clearly on 4hr, and 1 hr charts).
COMPLETE DISREGARD THIS POST! I'm definatly not bullish on EUR anymore (based on daily charts)

Trade #5

current sellstop on EURUSD:

1.4975

I have done some analysis on the 4hr and daily charts and I am now very bullish on USD for the start of this week (and hopefully whole week)

Bulls are losing steam on 4hr:
http://i380.photobucket.com/albums/o.../eurtop4hr.gif

downward continutation pattern on 4hr (this is also AFTER a pin bar in both the 4hr and 1hr chart, which I played last week):
http://i380.photobucket.com/albums/o...esicktrade.jpg
Many choose unhappiness over uncertainty.
  • #18
  • Oct 25, 2009 4:15pm Oct 25, 2009 4:15pm
Also, in regards to my GBPUSD trade that failed.... imagine if I had just placed that S/L 20-30 pips higher... . Based on the weekly pinbar that has formed in GBPUSD, this is going to be one bearish week for the pound.
Many choose unhappiness over uncertainty.
  • #19
  • Oct 25, 2009 4:17pm Oct 25, 2009 4:17pm
Quoting Dan Gilbert
TRADE #1: CLOSED
+20 pips

Ok, my EURUSD got shut down just now by myself manually. Here are the reasons why:

1. it appears as though 1.5000 has become a VERY strong new support line (as seen in my picture below)
2. There is an obvious pinbar with divergence on my chart below, that would be an excellent spot to go long (if today wasn't a Friday)
3. It's Friday and I'm looking to close up my positions for the weekend.

Also, in hindsight, using the 1.5000 line as a T/P would have been a very reasonable decision for me to make.......

If I would have let this trade run to my ORIGINALLY SET 14988 t/p line, I would have had a winner trade as +44 pips, instead of my measly +20 when I decided to exit my trade early.
Many choose unhappiness over uncertainty.
  • #20
  • Oct 25, 2009 4:20pm Oct 25, 2009 4:20pm
Quoting Dan Gilbert
TRADE #3

ok, I decided to go long on USDCHF, I have a lousy R/R but I'll take the trade for the sake of my thread here

TP: 1.0086
SL: 1.0031
So here's some from me.

Never, ever take a trade for the sake of the thread. You're trading for yourself and you should only take and post trades to suit your method.

You wont learn anything and neither will any newb following your method.

Discipline is what makes you profitable in the long run, whatever the method. You have a plan so stick with that and forget posting for the sake of posting.
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