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My trades by Dave

  • #601
  • Dec 10, 2005 1:48pm Dec 10, 2005 1:48pm
Quoting xspowerx
Mark, I was thinking the same thing except on paltalk. We can have voice chat over that.
I don't post a lot but I would also like to get in on this, I have been watching & following the trades as you guys post. Plus 3 heads are usually better than one.

I think with the right group of guys and with the willingness to listen to one another for ideas, with an open mind, this market can be very profitable.
Just my 2 cents. My yahoo address is [email protected] and you can set up a friends network with it and like title says you can use voice and actually talk and collaborate with one another.

Again, I don't want to presume that you would like me in your group but it would be an honor to do so. Let me know.
Have a great day and tomorrow let's kick some ass.
Also, I too am short the nzd/dlr and also plan to hold for a few days.

Jace
  • #602
  • Dec 10, 2005 5:29pm Dec 10, 2005 5:29pm
These are my honest thoughts on this subject. If I offend I pre appologise.

I don't have time to teach a group. I am just posting a public documentation of "my" trades. I have absorbed so much information in the past 6 months I been doing this, my head will explode if I get too much more input from a group. You guys are more than welcome to. I just want to apply everything I have learned systematicly and maintain this over 1-2 years, then by that time it will be simple reflex. Then I can take on the rest of whats out there. I have no problem sharing what I have learned and am learning daily. But IM or talking to each other would be too much. I tried that with a guy and for 3 days I seemed to be his online tutor.

thanks



Dave

Quoting johannbok
I don't post a lot but I would also like to get in on this, I have been watching & following the trades as you guys post. Plus 3 heads are usually better than one.

I think with the right group of guys and with the willingness to listen to one another for ideas, with an open mind, this market can be very profitable.
Just my 2 cents. My yahoo address is [email protected] and you can set up a friends network with it and like title says you can use voice and actually talk and collaborate with one another.

Again, I don't want to presume that you would like me in your group but it would be an honor to do so. Let me know.
Have a great day and tomorrow let's kick some ass.
Also, I too am short the nzd/dlr and also plan to hold for a few days.

Jace
  • #603
  • Dec 10, 2005 5:38pm Dec 10, 2005 5:38pm
Quoting raczekfx
I can only agree. Reading Dave’s journal helped me become more disciplined
trader and that paid off with a gain for a week +99 p. When I take a
position, I then jump to this thread to see if you guys are with me or
against me J. Most of my entries in the last 6 weeks resulted in runs
80-100pips in Eur/usd, 100-150pips in GBP/USD, however I tend to pull
them when 25-30pips in profit. Like today, I made 29pips with 5 trades (1,
3, 10, 8 7). I hope to get this under control in the coming weeks.

Have a great weekend

Mark.
p.s. bea, I sent you pm

Thats great to hear.

I do it too if you notice. Take profits at 30-40 and wach it goto 100+. But thats ok. Not being greedy is the part your practicing. Most of the time 20-50 is all you can expect in a day. Anything 20+ is great. Look at it thisway. On a standard account 1 position its 200$ but 2 positions 400$. 400-500$ a day is my goal. So 20-25 pips a day consistantly is meating that goal. All thats left is patients while building equity. I haven't done the #'s but I'm sure 2 years from now if I maintain I'll have quit my regular job.
I missed out on 20-30 on one of my last trades cause I was greedy. And broke even on another. The market will tell you when your out of line.

Dave
  • #604
  • Dec 10, 2005 7:25pm Dec 10, 2005 7:25pm
Quoting xxDavidxSxx
These are my honest thoughts on this subject. If I offend I pre appologise.

I don't have time to teach a group. I am just posting a public documentation of "my" trades. I have absorbed so much information in the past 6 months I been doing this, my head will explode if I get too much more input from a group. You guys are more than welcome to. I just want to apply everything I have learned systematicly and maintain this over 1-2 years, then by that time it will be simple reflex. Then I can take on the rest of whats out there. I have no problem sharing what I have learned and am learning daily. But IM or talking to each other would be too much. I tried that with a guy and for 3 days I seemed to be his online tutor.

thanks



Dave
Dave,
No offence taken, I admire what you have been doing with your posting of your trades. In my thought process of posting, was not to use you as a tutor, you have already been doing that with your posts and I thank you for that. But to brain storm and collaborate with others to help all of us succeed. I do understand your reasoning and again are truly greatful for all your work and thoughts you have shared. Have a good one.

Jace
  • #605
  • Dec 10, 2005 7:42pm Dec 10, 2005 7:42pm
Quoting xxDavidxSxx
These are my honest thoughts on this subject. If I offend I pre appologise.

I don't have time to teach a group. I am just posting a public documentation of "my" trades. I have absorbed so much information in the past 6 months I been doing this, my head will explode if I get too much more input from a group. You guys are more than welcome to. I just want to apply everything I have learned systematicly and maintain this over 1-2 years, then by that time it will be simple reflex. Then I can take on the rest of whats out there. I have no problem sharing what I have learned and am learning daily. But IM or talking to each other would be too much. I tried that with a guy and for 3 days I seemed to be his online tutor.

thanks
Dave
Dave no pre apology needed.
I wouldn’t do it either if I had to teach anybody, at least at this point where I’m now. I
know I would loose focus of what I’m doing, perhaps question my trade, etc.
I should have been more specific in my previous post. What I actually had in mind, was
exchange of info between 'traders' what we trade with a short info: e.g.
shorted gpy/jpy, cross 10/20 ma on 1hr, topps bouncing off 3rd line or simply ‘I’ve
seen it in a crystal ball’. Since you’re already posting your trades in this journal,
perhaps it wasn’t good idea to suggest this in the first place
I already use this communication method with turtle (I’m sure you know who I’m
talking about), however that is a paid service.

Best,
Mark
  • #606
  • Dec 10, 2005 7:53pm Dec 10, 2005 7:53pm
Quoting xxDavidxSxx
Thats great to hear.

I do it too if you notice. Take profits at 30-40 and wach it goto 100+. But thats ok. Not being greedy is the part your practicing. Most of the time 20-50 is all you can expect in a day. Anything 20+ is great. Look at it thisway. On a standard account 1 position its 200$ but 2 positions 400$. 400-500$ a day is my goal. So 20-25 pips a day consistantly is meating that goal. All thats left is patients while building equity. I haven't done the #'s but I'm sure 2 years from now if I maintain I'll have quit my regular job.
I missed out on 20-30 on one of my last trades cause I was greedy. And broke even on another. The market will tell you when your out of line.

Dave
Amen to that.
I had some success and will do it again as soon as my account size allows me to: trading 2 lots. If you’re in profit, let’s say 20-30 pips, close one lot, move the stop to be for a second position and let it ride to your original target, trail stop or perhaps get stopped out (who cares at this point). The problem started when I was wrong, 50p sl becomes -100 pips and that will hurt small acc. Using smaller sl would not work due to stop haunting and spikes.

Mark
  • #607
  • Dec 10, 2005 8:43pm Dec 10, 2005 8:43pm
Quoting raczekfx
Amen to that.
I had some success and will do it again as soon as my account size allows me to: trading 2 lots. If you’re in profit, let’s say 20-30 pips, close one lot, move the stop to be for a second position and let it ride to your original target, trail stop or perhaps get stopped out (who cares at this point). The problem started when I was wrong, 50p sl becomes -100 pips and that will hurt small acc. Using smaller sl would not work due to stop haunting and spikes.

Mark
yea exactly.

I cann't wait to use more than 1 lot. Just so I can do that.

Dave
  • #608
  • Dec 10, 2005 8:49pm Dec 10, 2005 8:49pm
Quoting johannbok
Dave,
No offence taken, I admire what you have been doing with your posting of your trades. In my thought process of posting, was not to use you as a tutor, you have already been doing that with your posts and I thank you for that. But to brain storm and collaborate with others to help all of us succeed. I do understand your reasoning and again are truly greatful for all your work and thoughts you have shared. Have a good one.

Jace
I know tutor wasn't the motive or intention in any way. I just know that would be the end result though. Unintentional.
Thanks for understanding.
One day I'll offer a paid training service. But at 6 months experiance I couldn't justify it.

Dave
  • #609
  • Dec 10, 2005 9:17pm Dec 10, 2005 9:17pm
This is the move down I have been waiting for. I posted this same chart befor. Now the price is reaching the top trend line. A break above 1.1840/60 range sustained, suggests a bottom is in place. But untill then I will belive the trend holds. So a short as close to the above range is what I'll be looking for.

Dave
Attached Image
  • #610
  • Dec 11, 2005 12:47pm Dec 11, 2005 12:47pm
Last weeks total...

-11
-24
-54
-89 in losses

+39
+29
+07
+75 winnings

-14 for the week.

Cann't remember last time I had a losing week. Thats a good thing.

Dave
  • #611
  • Dec 11, 2005 7:28pm Dec 11, 2005 7:28pm
Short 1.1820

s/l 1.1855

1.1785

Dave
  • #612
  • Dec 11, 2005 7:51pm Dec 11, 2005 7:51pm
here's chart


Just trying to trade the current range.

Dave
Attached Image
  • #613
  • Edited 6:18am Dec 12, 2005 3:00am | Edited 6:18am
First time I'm seeing you have a losing week, and it don't look like a good start to this week too.

Dave, does your broker support hedging? Here's an idea, that I'm implementing at the moment. Instead of using a "stop loss" try using a "buy stop" or a "sell stop". This way your "bad trade" is frozen, and you can still make up at a later stage at a different price reversal. It's working great for me.

Good Luck and happy trading
Habeeb
Keeping it Simple
  • #614
  • Dec 12, 2005 3:03am Dec 12, 2005 3:03am
Sorry to see you got stopped out like that.
Always wait for the opportune moment… just be careful not to miss it.
  • #615
  • Dec 12, 2005 5:38am Dec 12, 2005 5:38am
Quoting xxDavidxSxx
Short 1.1820

s/l 1.1855

1.1785

Dave
-35pips



short at 1.1885

s/l 1.1910 reverse to buy order with s/l 1.1875

target open
  • #616
  • Dec 12, 2005 7:15am Dec 12, 2005 7:15am
Quoting xxDavidxSxx
-35pips



short at 1.1885

s/l 1.1910 reverse to buy order with s/l 1.1875

target open
Hi Dave
I shorted the eur@ 1875sl 1910 , i took another 30 pips lost in the pound i guess is not my day, i was tempted to go long with the eur after hit the sl, so i guess is better a rest for today.
  • #617
  • Edited 4:27pm Dec 12, 2005 4:21pm | Edited 4:27pm
Quoting xxDavidxSxx
-35pips



short at 1.1885

s/l 1.1910 reverse to buy order with s/l 1.1875

target open
-25 pips

Buy order triggered @ 1.1910 s/l was 1.1875.

I trailed the stop by 40 so now I am holding a long position with s/l @ 1.1915.

Some tricky price action past week. I was told "DON'T TRADE DEC." I guess he was right.
I suggest you don't take my trades the rest of this month. I have already done some damage to my win% for the quarter. But I am still above 60%. And I am not worried about taking some losses. My biggest draw down hasn't exceeded 100 pips yet. And only 4 losses in a row. The current win I am in broke the losing streek. Glad I decided to make my s/l a reverse order.

I will wach this trade closely and will pull it if I see a reversal signal.

Dave

edit: a break below 1.1940/45 range will target 1.1900.
  • #618
  • Dec 12, 2005 5:04pm Dec 12, 2005 5:04pm
Quoting xxDavidxSxx
-25 pips

Buy order triggered @ 1.1910 s/l was 1.1875.

I trailed the stop by 40 so now I am holding a long position with s/l @ 1.1915.

Some tricky price action past week. I was told "DON'T TRADE DEC." I guess he was right.
I suggest you don't take my trades the rest of this month. I have already done some damage to my win% for the quarter. But I am still above 60%. And I am not worried about taking some losses. My biggest draw down hasn't exceeded 100 pips yet. And only 4 losses in a row. The current win I am in broke the losing streek. Glad I decided to make my s/l a reverse order.

I will wach this trade closely and will pull it if I see a reversal signal.

Dave

edit: a break below 1.1940/45 range will target 1.1900.
Here's chart. A break below 1.1942 targets 1.1915/25 range.

Dave
Attached Image
  • #619
  • Edited Dec 13, 2005 3:59am Dec 12, 2005 8:49pm | Edited Dec 13, 2005 3:59am
Quoting xxDavidxSxx
-25 pips

Buy order triggered @ 1.1910 s/l was 1.1875.

I trailed the stop by 40 so now I am holding a long position with s/l @ 1.1915.

Some tricky price action past week. I was told "DON'T TRADE DEC." I guess he was right.
I suggest you don't take my trades the rest of this month. I have already done some damage to my win% for the quarter. But I am still above 60%. And I am not worried about taking some losses. My biggest draw down hasn't exceeded 100 pips yet. And only 4 losses in a row. The current win I am in broke the losing streek. Glad I decided to make my s/l a reverse order.

I will wach this trade closely and will pull it if I see a reversal signal.

Dave

edit: a break below 1.1940/45 range will target 1.1900.
This was very powerful move.
I got lucky today, got stopped out for -33 on cable (I usually keep 70-100sl on this pair).Dave, don’t worry about your losses as long as you stick to your plan They're part of the business plan. If they don’t kill you will only make you stronger
  • #620
  • Dec 13, 2005 3:50am Dec 13, 2005 3:50am
Quoting xxDavidxSxx
-25 pips

Buy order triggered @ 1.1910 s/l was 1.1875.

I trailed the stop by 40 so now I am holding a long position with s/l @ 1.1915.

Some tricky price action past week. I was told "DON'T TRADE DEC." I guess he was right.
I suggest you don't take my trades the rest of this month. I have already done some damage to my win% for the quarter. But I am still above 60%. And I am not worried about taking some losses. My biggest draw down hasn't exceeded 100 pips yet. And only 4 losses in a row. The current win I am in broke the losing streek. Glad I decided to make my s/l a reverse order.

I will wach this trade closely and will pull it if I see a reversal signal.

Dave

edit: a break below 1.1940/45 range will target 1.1900.
stop hit 1.1938 +28 pips.

Just waching retracement levels now. There are a few different levels it could goto. Depending on wich wave is doing the retrace. support starts at 1.1900 and goes to 1.1840/50 range. We are on a wave "a" right now. Could bounce off 1.1900, retest highs(wave b), then drop near 1.1875(wave c). I will wait an short a failer of the retest.

Dave
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