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DanUK Simple EUR/USD Trading Journal 2009

  • #821
  • Nov 16, 2009 11:50am Nov 16, 2009 11:50am
Hi Dan and everyone else

I have just finished reading this thread, it has been a pleasure and learned a lot (Hopefully).

Looking forward to more trading wisdom from you.

Thank you.

Regards,

Sayed
  • #822
  • Nov 16, 2009 7:10pm Nov 16, 2009 7:10pm
Quoting DanUK
If you are still long from 1.4850 I would say you should have your stop loss to 1.4850 by now. If price makes it up to 1.5050 I would then move my stop loss to 1.4950 - following the rules that is.

Hope that helps.

Regards,

Dan
Yes i move my SL to 1.4860 at least if price move back to my original entry i still have small profit. Luckily the news didn't cut me off n i'm still in profit. I have been tempted to move up my SL before the news but i didn't do it. Your method prove to be working Very easy and simple and emotionless.
  • #823
  • Nov 17, 2009 2:59am Nov 17, 2009 2:59am
200 pips locked, post # 810
  • #824
  • Nov 17, 2009 6:14am Nov 17, 2009 6:14am
Likeley area for the EU to halt the bears is 1.4850 with a 50% retrace as support, price was held at bay here on the 12th and 13th small inner tendline may add support here too.
Attached Image (click to enlarge)
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  • #825
  • Nov 17, 2009 7:01am Nov 17, 2009 7:01am
Seems reasonable to assume that price could be pushed back to 1.6700 where there is a trendline, 50% retrace and round number, one to watch if nothing else.
Attached Image (click to enlarge)
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  • #826
  • Nov 17, 2009 7:30am Nov 17, 2009 7:30am
Hi everyone,

I believe 1.6700 is a good area to go long. What do you guys think?
Attached Image (click to enlarge)
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  • #827
  • Nov 17, 2009 7:44am Nov 17, 2009 7:44am
dunno. my 50% fib still remains at 6550. the price has not breached 1.69 recently, so a trade at 1.67 would leave just 200 pips breathing room. a high risk trade for me at that entry price.

my 2 cents.



Quoting SayedFX
Hi everyone,

I believe 1.6700 is a good area to go long. What do you guys think?
  • #828
  • Nov 17, 2009 8:12am Nov 17, 2009 8:12am
Hi sayed if i was not already in this trade that is the area i would be looking at 1.6650/7 coolshades might have a point in what he said but i think with this method is to find a good entry take it and let it go.
  • #829
  • Nov 17, 2009 9:53am Nov 17, 2009 9:53am
hope all antennae tuned to this pair for a 4800-4850 entry
  • #830
  • Nov 17, 2009 10:36am Nov 17, 2009 10:36am
well we are certainly getting a bit of a tug of war here at 4800-4850 I wonder if we could get a better discount. I'm very unclear about what the long entry would be if this area does not hold up. good luck if you are in
  • #831
  • Edited 12:45pm Nov 17, 2009 10:57am | Edited 12:45pm
Hi Dan,

Quick question regards your 50 pip entry margin.

Do you wait for a 50pip margin ALWAYS on every trade or are you "flexible" as to it being close to 50pips?

Say it goes to 45 - 47pips but it doesnt reach the required 50pip margin...would that trade be of interest to you?

Hope this makes sense.

Cheers Dan

EDIT: I have an entry on eur/usd @ 1.4850 with stop @ 1.4750.
My question was in fact to do with this particular trade since it didnt hit 1.4800 to the pip. It missed it by 6-8 pips...
  • #832
  • Nov 17, 2009 7:45pm Nov 17, 2009 7:45pm
Hi pip go to trend trading chart thread pg6 post #77/78.
  • #833
  • Nov 17, 2009 8:29pm Nov 17, 2009 8:29pm
The upmove looks weak now, my area of interest is at the low of daily TL 1.4750. Lets see what happen when we get there.
Agree with castlerock for GBP, i'll be watching 1.6650-1.6700. The reason is 50%fibo confluence with up TL and support there. Other option is at longer 50% Fibo at 1.6550
  • #834
  • Nov 18, 2009 5:35am Nov 18, 2009 5:35am
can i ask why you think so?

Quoting carrot_yuli
The upmove looks weak now,
  • #835
  • Nov 18, 2009 7:36am Nov 18, 2009 7:36am
Quoting Pipalicious
Hi Dan,

Quick question regards your 50 pip entry margin.

Do you wait for a 50pip margin ALWAYS on every trade or are you "flexible" as to it being close to 50pips?

Say it goes to 45 - 47pips but it doesnt reach the required 50pip margin...would that trade be of interest to you?

Hope this makes sense.

Cheers Dan

EDIT: I have an entry on eur/usd @ 1.4850 with stop @ 1.4750.
My question was in fact to do with this particular trade since it didnt hit 1.4800 to the pip. It missed it by 6-8 pips...
Hi Pip,

Generally I am pretty strict about seeing the round number hit however if price were to come in with about 5 pips I would probably take note.

The one time I might be a little more flexible were if price were reacting to a trendline.

Regards,

Dan
  • #836
  • Nov 18, 2009 8:51am Nov 18, 2009 8:51am
ok, this is a totally new wrinkle to me. i was under the impression, you entered @ round numbers based on reaction to 50% fib. didnt realise you monitored price hitting a round number, retracing and then entering at + 50 pips. how does the 50% fib enter into this second equation?



Quoting DanUK
Hi Pip,

Generally I am pretty strict about seeing the round number hit however if price were to come in with about 5 pips I would probably take note.

The one time I might be a little more flexible were if price were reacting to a trendline.

Regards,

Dan
  • #837
  • Nov 18, 2009 9:44am Nov 18, 2009 9:44am
stopped out for 200 points

Quoting coolshades
too. was away last week but managed to take one trade which was long from gu at 1.655. am at be now.

am also long in nzdusd but thats for another thread
  • #838
  • Nov 18, 2009 9:45am Nov 18, 2009 9:45am
closed this for 110 points. no current trades now

Quoting coolshades
hope all antennae tuned to this pair for a 4800-4850 entry
  • #839
  • Nov 18, 2009 10:46am Nov 18, 2009 10:46am
Quoting coolshades
ok, this is a totally new wrinkle to me. i was under the impression, you entered @ round numbers based on reaction to 50% fib. didnt realise you monitored price hitting a round number, retracing and then entering at + 50 pips. how does the 50% fib enter into this second equation?
Yes that is basically right - essentially I am looking at trendlines and the 50% retracement level to guide me to the area I am interested in. Once price gets to that area I use the round numbers to trade from.
  • #840
  • Nov 18, 2009 11:55am Nov 18, 2009 11:55am
Quoting coolshades
stopped out for 200 points
Hi coolshades.

How can you be out with 200pips?
Are you doing something diferent?
My g/u trade is at 100protected because it hasnt reached the following area for me to "rule-wise" protect 200pips.

bit confused here pal....
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