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DanUK Simple EUR/USD Trading Journal 2009

  • #861
  • Nov 20, 2009 11:47pm Nov 20, 2009 11:47pm
thks, but lets not get carried away here. my 1st two years went nowhere and only this year things are falling into place. secondly i am trading a micro acct on oanda. there are far better traders than me on ff, direct-trade, xaron, our own dan for example....

Quoting samer960
Hi
they say if in ur first year u breakeven , u have a big chance to become a good trader . so if u are 20% up it means u are doing great .
keep it up
regards
  • #862
  • Nov 21, 2009 7:32am Nov 21, 2009 7:32am
this journal is a really interesting read
  • #863
  • Nov 22, 2009 3:26am Nov 22, 2009 3:26am
im learning so much from you guys
  • #864
  • Nov 22, 2009 8:52pm Nov 22, 2009 8:52pm
now +100 pip, moved stop loss to break even , and let it run .
regards

Quoting samer960
hi
this is AU daily .
i think this is the way u trade witch is mine too . i have learned it form JACKO and i am doing well , and i love it
have a nice week end
  • #865
  • Nov 23, 2009 3:12am Nov 23, 2009 3:12am
Hi all,

I will get around to answering questions shortly – hopefully next Monday I should be back on the internet proper at home so I will be able to post in a bit more detail.

I opened two positions last Friday before leaving for the weekend – I am currently long E/U from 1.4850 and long A/U from 0.9100 (I’ve decided to add A/U to my regular trades group now as and when it seems appropriate to do so). I do not have any open trades on G/U.

Regards,

Dan
  • #866
  • Nov 23, 2009 4:34am Nov 23, 2009 4:34am
Quoting DanUK
Hi all,

I will get around to answering questions shortly – hopefully next Monday I should be back on the internet proper at home so I will be able to post in a bit more detail.

[color=black][font=Verdana]I opened two positions last Friday before leaving for the weekend – I am currently long E/U from 1.4850 and long A/U from 0.9100 (I’ve decided to add A/U to my regular trades group now as and when it seems appropriate to do so). I do not have any open trades...
I went long last friday on A/U, but i went in at 0.9150...

I guess you use more discretion since you have more experience, like the trade I took on e/u that hadnt "quite" reached the 50 pip margin. I entered even though it was 4 - 6pips away from the 50pip margin...

Am i correct in assuming this or am i mistaken?

Cheers
  • #867
  • Nov 23, 2009 5:03am Nov 23, 2009 5:03am
Quoting Pipalicious
I went long last friday on A/U, but i went in at 0.9150...

I guess you use more discretion since you have more experience, like the trade I took on e/u that hadnt "quite" reached the 50 pip margin. I entered even though it was 4 - 6pips away from the 50pip margin...

Am i correct in assuming this or am i mistaken?

Cheers
Hi Pip,

Yes you are correct - although I try to make my trading as mechanical as possible, sometimes it is necessary to make a judgement call based on the principles we have laid down. E/U hit 1.4801 which is good enough for me and A/U was traded off of a trendline bounce.

Regards,

Dan
  • #868
  • Nov 23, 2009 5:09am Nov 23, 2009 5:09am
am in on eu too at 4850

Quoting DanUK
Hi all,

I will get around to answering questions shortly – hopefully next Monday I should be back on the internet proper at home so I will be able to post in a bit more detail.

[color=black][font=Verdana]I opened two positions last Friday before leaving for the weekend – I am currently long E/U from 1.4850 and long A/U from 0.9100 (I’ve decided to add A/U to my regular trades group now as and when it seems appropriate to do so). I do not have any open trades on...
  • #869
  • Nov 23, 2009 7:10am Nov 23, 2009 7:10am
Quoting Pipalicious
May I ask what the average pips per month have been over the time Dan?
Did you start using the method when you started your thread (jan ´09?) or before that aswell?

Just trying to see how it compares to the data im looking at.

Thanks.
Hi Pip,

I started trading this method (although originally I used a few indicators to help me... which I have since left behind) before I started this thread. I have probably traded this way for about two years now but it was only really this year that I have had a lot of success - part of which I attribute to my journal here because I needed to focus my efforts and keep track of what I was doing. Since becoming regularly profitable I would say I average about 1200 pips profit per month - which is a dream come true to me!

Regards,

Dan
  • #870
  • Nov 23, 2009 11:58am Nov 23, 2009 11:58am
Quoting DanUK
Hi Pip,

I started trading this method (although originally I used a few indicators to help me... which I have since left behind) before I started this thread. I have probably traded this way for about two years now but it was only really this year that I have had a lot of success - part of which I attribute to my journal here because I needed to focus my efforts and keep track of what I was doing. Since becoming regularly profitable I would say I average about 1200 pips profit per month - which is a dream come true to me!

Regards,

Dan
Thats fantastic Dan! Well pleased for ya buddie .

Most people would think it isnt posible to achieve an average like that. Not to mention that 100pips = 2% for you.... lovely juvely!!

May i ask aswell, is this "exclusively" with currencies or does it include other markets? I remember you saying you do stocks aswell....maybe comods along with it? How much (% wise) do you think accounts for your currency trades? 60%, 80%...?

Just curious. Thanks for your reply.
  • #871
  • Nov 23, 2009 7:15pm Nov 23, 2009 7:15pm
Thanks for the posts Dan I too am learning a lot. still studying forex and trading futures at present. Hopefully open a small account for practice after the nnew year and then I can only hope to do as well as you!
  • #872
  • Nov 24, 2009 7:33am Nov 24, 2009 7:33am
Quoting Pipalicious
Thats fantastic Dan! Well pleased for ya buddie .

Most people would think it isnt posible to achieve an average like that. Not to mention that 100pips = 2% for you.... lovely juvely!!

May i ask aswell, is this "exclusively" with currencies or does it include other markets? I remember you saying you do stocks aswell....maybe comods along with it? How much (% wise) do you think accounts for your currency trades? 60%, 80%...?

Just curious. Thanks for your reply.
Hi Pip,

Yes that was from currency trading only which accounts for about 80% of my trading activity. I do also trade stocks but on daily charts with a slightly longer term trade outlook so they are in a seperate account. The overall strategy is the same though and the hit rate is at least as good as with forex.

Regards,

Dan
  • #873
  • Nov 24, 2009 7:36am Nov 24, 2009 7:36am
Quoting traderdan68
Thanks for the posts Dan I too am learning a lot. still studying forex and trading futures at present. Hopefully open a small account for practice after the nnew year and then I can only hope to do as well as you!
Hi,

Welcome aboard! Grab yourself a demo account and start practicing - demo accounts are really useful in the learning process because hands on experience is such a powerful learning tool. Keep it demo until you get good though!

Regards,

Dan
  • #874
  • Nov 25, 2009 10:20am Nov 25, 2009 10:20am
Quoting carrot_yuli
i'm long on EU 1.4850 now price at 1.4970. Move my stop to 1.4850 or 1.4470?

i'm long GU at 1.6600 but i then i heard others opinion and close the trade =(
Lesson learned: Plan the trade then trade the plan.
Hi Dan, firstly thanks for sharing this thread. l love to read how others trade.


Carrot! when reading threw dan's thread I saw your post and had to say something. You touched on a point that struck a nerve. I have traded on and off since 2001. I won't go into how long it took me to become profitable but suffice to say it took me years and 1000s of hours studying, watching charts. Because trading is hard? No! Because I am hard headed lol A huge lesson that helped me was , ALWAYS trade your own game. Say that someone you hugely respect is short a huge position in EU and your plan says buy. What do you do? You buy! You go strait into them without reservation. Sorry to get long winded just hopefully if you take this to hart you will save your self much mental capital in the future. Mental capital is vital because if you go on tilt..... thas what causes the real losses you know?
May the fish in your stream of life always bite.
  • #875
  • Nov 25, 2009 12:06pm Nov 25, 2009 12:06pm
Quoting DanUK
Hi Pip,

Yes that was from currency trading only which accounts for about 80% of my trading activity. I do also trade stocks but on daily charts with a slightly longer term trade outlook so they are in a seperate account. The overall strategy is the same though and the hit rate is at least as good as with forex.

Regards,

Dan
Thanks for the reply Dan,

Also one more thing...

I know your main currencies are e/u - g/u. However, do your results come from these two pairs or would you say multiple other pairs have influenced these returns, and if so, which have had the biggest impact for you.

Sorry to be nosey mate.

Cheers.
  • #876
  • Nov 25, 2009 12:18pm Nov 25, 2009 12:18pm
Pip,

are you following Dan's other thread, the trend trading thread? if you do you will note that Dan also trades USDCAD and AUDUSD (maybe more but he hasmentioned those)

Quoting Pipalicious
Thanks for the reply Dan,

Also one more thing...

I know your main currencies are e/u - g/u. However, do your results come from these two pairs or would you say multiple other pairs have influenced these returns, and if so, which have had the biggest impact for you.

Sorry to be nosey mate.

Cheers.
  • #877
  • Nov 25, 2009 2:13pm Nov 25, 2009 2:13pm
Dan,
I can't believe that I have only just found this great thread. I have been trying to follow Jacko's method for nearly as long as I have been a member of FF.

Keep up the good work,
Ian
  • #878
  • Nov 25, 2009 4:30pm Nov 25, 2009 4:30pm
Quoting coolshades
Pip,

are you following Dan's other thread, the trend trading thread? if you do you will note that Dan also trades USDCAD and AUDUSD (maybe more but he hasmentioned those)
Hi coolshades,

I see what you mean and i am following the other thread. However, i wanted to know if the majority of his returns ARE from e/u - g/u. He started the trend thread to share ideas with other people and to also see how others are doing with other currencies....or so i understand.

Probably a daft question of mine. Mainly because im backtesting the hell outa the method. It helps me personally build confidence, which then improves my own discipline when trading in real time.
  • #879
  • Nov 25, 2009 5:21pm Nov 25, 2009 5:21pm
Hi DanUK. Subscribing. This is a nice thread, hope to contribute soon with conversation.
Kind Regards zol
  • #880
  • Nov 25, 2009 9:25pm Nov 25, 2009 9:25pm
Quoting aSandman
Hi Dan, firstly thanks for sharing this thread. l love to read how others trade.
...
thanks for your concern and advise. Now i'm looking for my own trade, build my confidence and trade the plan. Dan's method is really great, its the way of trading that i want, not complicated, the most simple and you don't need to be in front of the computer looking at chart all day. I have my own target price now and usually when price is near my target i look at PA if price is rejected around those level then i take the trade.
I guess your trade has been profitable now as you have 8years of experience , do you only trade currencies?
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