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DanUK Simple EUR/USD Trading Journal 2009

  • #941
  • Dec 4, 2009 9:04am Dec 4, 2009 9:04am
Quoting artieboy
Here are my fibs for the eur/usd....any comments?
I just took the latest swing up....the closest round number seemed to be around 1.5000
Hi artie,

That looks ok, however I still have the most recent engulfing swing showing on my charts as the high of that move has not been broken yet. I am keen to see what happens in the 1.4800 - 1.4900 area.

Regards,

Dan
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  • #942
  • Dec 4, 2009 9:41am Dec 4, 2009 9:41am
Hey Dan, ok that makes sense....when in uptrend, adjust the fib if high is broken. But in that case, wouldn't the gbp/usd have the same 50% fib, the high wasnt broken. So here is how i would draw it, and the round number of the fib would be 1.63.....instead of the 1.65 i drew earlier.
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  • #943
  • Dec 4, 2009 10:01am Dec 4, 2009 10:01am
Quoting artieboy
Hey Dan, ok that makes sense....when in uptrend, adjust the fib if high is broken. But in that case, wouldn't the gbp/usd have the same 50% fib, the high wasnt broken. So here is how i would draw it, and the round number of the fib would be 1.63.....instead of the 1.65 i drew earlier.
Hi,

Yes that's right - although there is no harm in drawing the smaller fib too - just keep in mind the "big picture" fib!

Regards,

Dan
  • #944
  • Dec 4, 2009 10:06am Dec 4, 2009 10:06am
Quoting DanUK
Hi artie,

T I am keen to see what happens in the 1.4800 - 1.4900 area.

Regards,

Dan
Thank you for your chart Dan, yes that area does look good.
In your trend following, what is the longest you have ever held a position?

Thanks!
Jason
May the fish in your stream of life always bite.
  • #945
  • Dec 4, 2009 10:07am Dec 4, 2009 10:07am
Great stuff! Thanks!
And keep making those pips!



Quoting DanUK
Hi,

Yes that's right - although there is no harm in drawing the smaller fib too - just keep in mind the "big picture" fib!

Regards,

Dan
  • #946
  • Dec 4, 2009 10:07am Dec 4, 2009 10:07am
Quoting DanUK
Hi,

Yes that's right - although there is no harm in drawing the smaller fib too - just keep in mind the "big picture" fib!

Regards,

Dan
So basically, you would apply the smaller fib, wait till price reaches 1.6500 and watch how it reacts. If all good we trade it.

However, if it breaks through you then focus on the second fib, being the bigger picture which would then align around 1.6300. Same process, watch see how it reacts and trade it if all well.

Am i seeing this right?

Cheers
  • #947
  • Dec 4, 2009 10:09am Dec 4, 2009 10:09am
hmmm, actually there is a difference between the eur/usd and gbp/usd....
The eur/usd was making higher highs, however did not make any obvious lower lows....

On the other hand the gbp/usd did make a couple of lower lows on the 4 hour....... how would u adjust the fib (assuming uptrend) if it makes lower lows?


Quoting DanUK
Hi,

Yes that's right - although there is no harm in drawing the smaller fib too - just keep in mind the "big picture" fib!

Regards,

Dan
  • #948
  • Dec 4, 2009 10:19am Dec 4, 2009 10:19am
Quoting aSandman
Thank you for your chart Dan, yes that area does look good.
In your trend following, what is the longest you have ever held a position?

Thanks!
Jason
Hi Jason,

On E/U the longest I've held a position is about two weeks however G/U probably only three or four days.

Regards,

Dan
  • #949
  • Dec 4, 2009 10:21am Dec 4, 2009 10:21am
Quoting Pipalicious
So basically, you would apply the smaller fib, wait till price reaches 1.6500 and watch how it reacts. If all good we trade it.

However, if it breaks through you then focus on the second fib, being the bigger picture which would then align around 1.6300. Same process, watch see how it reacts and trade it if all well.

Am i seeing this right?

Cheers
Hi Pip,

Yes that's right - particularly if the area coincides with a trendline or major horizontal support/resistance level. But again I should add that the 50% level only works well when a currency is trending... which G/U isn't really at present.

Regards,

Dan
  • #950
  • Dec 4, 2009 10:40am Dec 4, 2009 10:40am
Quoting artieboy
hmmm, actually there is a difference between the eur/usd and gbp/usd....
The eur/usd was making higher highs, however did not make any obvious lower lows....

On the other hand the gbp/usd did make a couple of lower lows on the 4 hour....... how would u adjust the fib (assuming uptrend) if it makes lower lows?
Hi,

The most important difference here is that E/U is trending and G/U is not. So I wouldn't read too much into the comparison of the two charts at the moment.

Back to your question... it is a hard one to answer without having a chart to show what I would do. Each situation is different so how I would draw it would depend on things such as where the trendline was and where the most recent highs and lows were in comparison to it.

I think the important thing in that situation would be if the lower low fell lower than the bottom of your fib retracement and below the trendline. If that were the case I would be cautious about the possibility of the trend turning but I wouldn't change my bias until we had further proof of this - i.e. continued lower lows and lower highs and the trendline pointing down instead of up.

I hope that answers your question to some extent!

Regards,

Dan
  • #951
  • Dec 5, 2009 8:10pm Dec 5, 2009 8:10pm
Hello Dan
Just spent several days to finish reading your thread.
Well, my mind is full of unorganized info about your trading system.
Do you happen to have a written document of your trading system to share?
I don't know if I can email/pm you... I might be blocked by administrator if I do so due to my junior member status?
I think this document would help all newbies to quick master your trading method.
Don't you agree?
Well thanks for your time.
Keep posting man.
  • #952
  • Dec 6, 2009 1:48pm Dec 6, 2009 1:48pm
Quoting pj.waterloo
Hello Dan
Just spent several days to finish reading your thread.
Well, my mind is full of unorganized info about your trading system.
Do you happen to have a written document of your trading system to share?
I don't know if I can email/pm you... I might be blocked by administrator if I do so due to my junior member status?
I think this document would help all newbies to quick master your trading method.
Don't you agree?
Well thanks for your time.
Keep posting man.
Hi PJ,

My strategy is a splicing together of a few different teachings. I haven't got a written summary as such but I will try and put something together and post it as soon as I can. The first post of this thread outlines my general strategy... if you have any questions in the meantime please feel free to ask.

Regards,

Dan
  • #953
  • Dec 6, 2009 7:06pm Dec 6, 2009 7:06pm
Quoting DanUK
Hi PJ,

My strategy is a splicing together of a few different teachings. I haven't got a written summary as such but I will try and put something together and post it as soon as I can. The first post of this thread outlines my general strategy... if you have any questions in the meantime please feel free to ask.

Regards,

Dan
Dan,

I am glad to find this thread and have read quickly your first posters in this thread and I like your trading style. I share the same idea but adding simple EW approach to capture the benefit on the corrective move during strong trend like EU.
I am still on my learning curve too on EW theory but reading thread like this will help improve my trading results.
Thanks for sharing.
-Only you and your signal, stick to it. The rest are just noise-
  • #954
  • Dec 7, 2009 3:17pm Dec 7, 2009 3:17pm
Quoting DanUK
Hi PJ,

My strategy is a splicing together of a few different teachings. I haven't got a written summary as such but I will try and put something together and post it as soon as I can. The first post of this thread outlines my general strategy... if you have any questions in the meantime please feel free to ask.

Regards,

Dan
Hi Dan

I will wait for your ebook. It is better to pick up the right method then just blindly testing / trading.

Thanks for your efforts.
Happy Pippings.
  • #955
  • Dec 10, 2009 2:31pm Dec 10, 2009 2:31pm
Hi Dan,

Like others , I found this thread to be most informative and enjoyable to read. I have been trying to trade with a my own similar style , but I have not had the results you have had - well done.

I will use this ( and other threads ) to refine my own technique.

As mentioned by others , if you have a summarised/updated version of your trading system it would be greatly appreciated.

Thanks in advance
Gazbah
Watch this space .....
  • #956
  • Dec 10, 2009 4:31pm Dec 10, 2009 4:31pm
Been in a tight 100 pip range. i have an AH trade waiting at the top of the range..i have mixed feeling leaving it there but it shall stay until it gets picked up.
  • #957
  • Dec 11, 2009 4:59am Dec 11, 2009 4:59am
whats your entry at?



Quoting bboyomega83
Been in a tight 100 pip range. i have an AH trade waiting at the top of the range..i have mixed feeling leaving it there but it shall stay until it gets picked up.
  • #958
  • Dec 11, 2009 8:20am Dec 11, 2009 8:20am
was at 1.4785 but now the trend looks like its changing or taking a serious test

Quoting coolshades
whats your entry at?
  • #959
  • Dec 11, 2009 8:57am Dec 11, 2009 8:57am
well i hope you had a 100 pip sl. trend may or may not have changed. no idea.

i know only one trader on here who is pretty good at calling tops and bottoms and its not me.



Quoting bboyomega83
was at 1.4785 but now the trend looks like its changing or taking a serious test
  • #960
  • Dec 11, 2009 9:57am Dec 11, 2009 9:57am
Quoting gazbah
Hi Dan,

Like others , I found this thread to be most informative and enjoyable to read. I have been trying to trade with a my own similar style , but I have not had the results you have had - well done.

I will use this ( and other threads ) to refine my own technique.

As mentioned by others , if you have a summarised/updated version of your trading system it would be greatly appreciated....
Hi Gazbah,

Thanks - I'm sure you will get there; it takes a little while but with more and more practice things start to fall into place!

I've pretty much wrapped up my forex trading for 2009 so I will have some spare time to put pen to paper (fingertips to keyboard really) and get a summary of my trading style put together!

Regards,

Dan
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