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My trades by Dave

  • #641
  • Dec 15, 2005 8:31pm Dec 15, 2005 8:31pm
Quoting xxDavidxSxx
I don't know. Just my current trend lines as I see it.

Dave

or did you mean the ma's?
Hello Dave
this time is very difficult to trade the eur, in my last trade i place 25 pips after one night, i shorted the pound today to save the week, now when i see your chart i see better your position for a long trade, but in short time i do not see any direction , do you use the 144,89 ema for the trend? in the 30 min and the daily is as you post down in 4hours is changing.
bye
Bea
  • #642
  • Dec 15, 2005 11:27pm Dec 15, 2005 11:27pm
89 and 144 ema's are from SureFire.

Could be a good trend indicator. I will have to look back at that system.



Lou
  • #643
  • Dec 16, 2005 9:21am Dec 16, 2005 9:21am
the pair is moving bet a down channel the yellow and the red one is the up trend the break today in either way will clear a little.
Attached Image
  • #644
  • Dec 16, 2005 4:01pm Dec 16, 2005 4:01pm
yea there 144/89's. I just got the desk top version of inteli charts 7 day trial.
I am trying the sure fire trend indacater and I have the 7/10 cross set on alerts. Testing. While my long term trade is in, I have placed several small trades using this alert system. So far I am breaking even on eur/usd but in profits with the usd/jpy. You cann't judge much in December.
I placed the long term trade hoping the long term waves will hold. So far so good. I could have pulled 40 pips 2 different times. That was very tempting. But I am holding position into the week end.


Have a great week end!

Dave
  • #645
  • Dec 17, 2005 10:00am Dec 17, 2005 10:00am
Dave, how’s your inteli charts trial going? I’d appreciate your comments, is it
worth paying $ 50/month?


I’ve been working on my intraday system (almost like scalping, no position held
overnight), applying discipline I’ve learnt from you and exchange of info with
bea via messenger.
So far so good, last week was my second consecutive week on a plus side
(overall + 142 pips). I had 40 trades (36 winners, 4 losers), most of them were
just 5, 7 and 10 pips trades, but in the end they all add up.

Good weekend to all,
Mark
  • #646
  • Dec 19, 2005 7:11pm Dec 19, 2005 7:11pm
Quoting raczekfx
Dave, how’s your inteli charts trial going? I’d appreciate your comments, is it
worth paying $ 50/month?


I’ve been working on my intraday system (almost like scalping, no position held
overnight), applying discipline I’ve learnt from you and exchange of info with
bea via messenger.
So far so good, last week was my second consecutive week on a plus side
(overall + 142 pips). I had 40 trades (36 winners, 4 losers), most of them were
just 5, 7 and 10 pips trades, but in the end they all add up.

Good weekend to all,
Mark
The 50$ intelli package isn't really worth it. The 100$ one is the one I am checking out now. If you got the extra cash for it there nice but not nessasary to make winning trades.


I am still holding my eur/usd short position. The weekly chart has the price right at the long term trend line. A sustained break of this trend line should be sugnificant. 1.2050/60 sustained break. So far the price is being pushed down. Meaning the highs keep getting lower. I would expect the price to remain between 1.1700 and 1.2030 for the rest of the year.
I am not posting any new trades untill January. I will update changes pertaining to my current trade.
I am still making trades on usd/jpy and gbp/usd. Made out real good on cable this morning.

I am still checking if any one has any questions.

Dave
  • #647
  • Dec 19, 2005 8:00pm Dec 19, 2005 8:00pm
I will clue you guys in on a very simple system I use for small trades I don't post.


Durring consilidation of any kind is ok. 30 min chart for best results.
Make lines at the previous 3 highs and previous 3 lows. Now place entry order 7 pips the other side of the closest (first) lines above and below current price. S/l is the other order. If the price reverses after hitting an entry and hits the other entry you'll have to reverse position for this system to average out. So after an entry is hit change the other entry to a s/l/reverse.
The next 2 lines are your targets.

If the price action won't let you then don't force it. The lines should look like this charts.

Have fun with it.

Dave
Attached Image
  • #648
  • Dec 19, 2005 8:36pm Dec 19, 2005 8:36pm
Quoting xxDavidxSxx
The 50$ intelli package isn't really worth it. The 100$ one is the one I am checking out now. If you got the extra cash for it there nice but not nessasary to make winning trades.


I am still holding my eur/usd short position. The weekly chart has the price right at the long term trend line. A sustained break of this trend line should be sugnificant. 1.2050/60 sustained break. So far the price is being pushed down. Meaning the highs keep getting lower. I would expect the price to remain between 1.1700 and 1.2030 for the rest of the year.
I am not posting any new trades untill January. I will update changes pertaining to my current trade.
I am still making trades on usd/jpy and gbp/usd. Made out real good on cable this morning.

I am still checking if any one has any questions.

Dave
Thanks Dave,

100$ is bit too expensive for me at the moment, but I definitely will use something more reliable than fxcm in the future. Would it be a big trouble for you, if you post all your trades? I know some of them might be risky and you’re probably afraid, someone might follow it and lose $$, but believe it or not your trades made me a better trader.

Even though I prefer to scalp right now until we get nice trend going, I come here often to see your take on a market.



Mark
  • #649
  • Dec 19, 2005 9:00pm Dec 19, 2005 9:00pm
Quoting xxDavidxSxx
I will clue you guys in on a very simple system I use for small trades I don't post.


Durring consilidation of any kind is ok. 30 min chart for best results.
Make lines at the previous 3 highs and previous 3 lows. Now place entry order 7 pips the other side of the closest (first) lines above and below current price. S/l is the other order. If the price reverses after hitting an entry and hits the other entry you'll have to reverse position for this system to average out. So after an entry is hit change the other entry to a s/l/reverse.
The next 2 lines are your targets.

If the price action won't let you then don't force it. The lines should look like this charts.

Have fun with it.

Dave
hi dave
Good advice, it works specially when you see at 7am what happened in europe , i am short in eur@1995 sl 2050 open target
best regards
  • #650
  • Edited Dec 20, 2005 2:41am Dec 19, 2005 9:54pm | Edited Dec 20, 2005 2:41am
Hi

Thanks for that trading tip,

As i am fairly new and not to intelligent, i have a question about it, i don't fully understand how to do it, please see if you can help me grasp it.

The part i don't get is this

Now place entry order 7 pips the other side of the closest (first) lines above and below current price. S/l is the other order.

The part where you say above and below the current price,
as on the chart it says entry order on both the middle lines, and that wouldn't be above and below the current price, or are we meant to enter the entry orders while the price is between those two middle lines?

What might help me get it also is, will the orders get filled after the price breaks out of the middle mini channel, or right before it breaks out?

If dave, or anyone else that understands this, can go through it with me step by step, i'd really appreciate it, i can give you my email if it is not appropriate on this forum.

Sorry for this.

Thanks
Mr smith
  • #651
  • Dec 20, 2005 11:13am Dec 20, 2005 11:13am
Quoting bea
hi dave
Good advice, it works specially when you see at 7am what happened in europe , i am short in eur@1995 sl 2050 open target

best regards
I moved my sl to 1895, for my 100 pips as worst scenary,but i go for 200. DAVE you were right
  • #652
  • Dec 20, 2005 12:45pm Dec 20, 2005 12:45pm
Quoting bea
I moved my sl to 1895, for my 100 pips as worst scenary,but i go for 200. DAVE you were right
way to go bea. watch 61fibo at 1.1815. Hope you shorted few lots, like last night on cable. ufortunately I slept in today...
  • #653
  • Dec 20, 2005 3:55pm Dec 20, 2005 3:55pm
Quoting xxDavidxSxx
Long term position.

entry: 1.1993

s/l 1.2275

target:1.1640, 1.1590, 1.1472



Dave
How you like my trade now? j/k

I always fall back on higher time charts when I get a string of losses like I have(4). That gets me back in touch with the big pitcher.

Holding short and moving s/l to 1.2060 current price (1.1857). Pending chart analisys. I will wach the charts over the next day or 2 to determine if the price is gonna continue down.

Dave
  • #654
  • Dec 20, 2005 5:17pm Dec 20, 2005 5:17pm
Quoting bea
I moved my sl to 1895, for my 100 pips as worst scenary,but i go for 200. DAVE you were right
Way to go!

I am going to hold position in hopes of another 1.1640 retest and hopefull break.
In Jan. I will resume normal trades but this was to be my last posted trade for the year(Going out big as I can). Also ends the 4th quarter.
Current trade recomendation...trade breakout system I posted above.

Dave
  • #655
  • Edited 6:02pm Dec 20, 2005 5:56pm | Edited 6:02pm
Quoting Mr Smith
Hi

Thanks for that trading tip,

As i am fairly new and not to intelligent, i have a question about it, i don't fully understand how to do it, please see if you can help me grasp it.

The part i don't get is this

Now place entry order 7 pips the other side of the closest (first) lines above and below current price. S/l is the other order.

The part where you say above and below the current price,
as on the chart it says entry order on both the middle lines, and that wouldn't be above and below the current price, or are we meant to enter the entry orders while the price is between those two middle lines?

What might help me get it also is, will the orders get filled after the price breaks out of the middle mini channel, or right before it breaks out?

If dave, or anyone else that understands this, can go through it with me step by step, i'd really appreciate it, i can give you my email if it is not appropriate on this forum.

Sorry for this.

Thanks
Mr smith
Your right. The entry at +7 pips other side of first lines did put the entry on about the second line. Thats ok. You still enter and let it take you to the 3rd line. Thats a good system of entering the market. What you decide once your in is up to the indavidaul. At first with your experiance level you should just place a target in with your order of 10-15 pips. Once you learn to read the market you can decide to hold the positing longer and move s/l closer to lock in profits along the way. That exact chart I posted is the entry for the huge move down it just took. But who could have known.
Just make sure your 3rd line will be 25 pips away. Do this system exactly how I describe and you will learn the personality of the pair. Suddenly you'll realize a move befor it happens.

edit: order is set 7 pips out side of the mini channel as you called it. PM me your e-mail and I'll mail you a full size copy of that chart. Print it out and hang it on your wall. It is a model set up for that little system. Just wait for the market to look like that chart. Draw lines at the tops and bottoms of the waves on the 30 min chart untill it forms a good looking entry.

Dave
  • #656
  • Dec 21, 2005 4:13am Dec 21, 2005 4:13am
Quoting xxDavidxSxx
I will clue you guys in on a very simple system I use for small trades I don't post.


Durring consilidation of any kind is ok. 30 min chart for best results.
Make lines at the previous 3 highs and previous 3 lows. Now place entry order 7 pips the other side of the closest (first) lines above and below current price. S/l is the other order. If the price reverses after hitting an entry and hits the other entry you'll have to reverse position for this system to average out. So after an entry is hit change the other entry to a s/l/reverse.
The next 2 lines are your targets.

If the price action won't let you then don't force it. The lines should look like this charts.

Have fun with it.

Dave

Hello Dave,

Thanks for sharing techniques for your success in trading.
I was wondering if you have used this system as a method of catching break aways from triangles? And if you have, was the success rate pretty good?

Thank you.
Pip-ole
  • #657
  • Dec 21, 2005 3:29pm Dec 21, 2005 3:29pm
Quoting Pip-ole
Hello Dave,

Thanks for sharing techniques for your success in trading.
I was wondering if you have used this system as a method of catching break aways from triangles? And if you have, was the success rate pretty good?

Thank you.
Pip-ole
Yea I have used this in every consilidation type.
With triangles remember the break out is usually a small burst appearing like a false break. If you are going for 10-15 pips you'll get it.
  • #658
  • Edited 3:46pm Dec 21, 2005 3:33pm | Edited 3:46pm
Quoting xxDavidxSxx
Long term position.

entry: 1.1993

s/l 1.2275

target:1.1640, 1.1590, 1.1472



Dave
Holding short leaving s/l @ 1.2060 untill a sustained break below 1.1800

Dave
  • #659
  • Dec 21, 2005 4:39pm Dec 21, 2005 4:39pm
Here's chart on current short position. price now 1.1834.

a 1,2,3,4,5 wave pattern has unfolded. The next should be something like the a,b,c I drew out. And that should complete a wave 1,2 on a higher time chart.

Dave
Attached Image
  • #660
  • Dec 22, 2005 7:14pm Dec 22, 2005 7:14pm
Looks like the a,b,c unfolded almost as diagrammed.

But could still probe higher befor going back down.

Dave
Attached Image
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