DanUK Trend Trading Journal 2010 | Page 10 | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

DanUK's Advanced Trend Trading Strategy 1,222 replies

DanUK's Intraday Experiment 279 replies

DanUK Simple EUR/USD Trading Journal 2009 1,005 replies

Trading Journal 2010 34 replies

2010 Journal Experiment: Average 15-30% Per Month With Minimum Draw Down. 13 replies

Attachments: DanUK Trend Trading Journal 2010
Exit Attachments

DanUK Trend Trading Journal 2010

  • #181
  • Mar 15, 2010 10:03am Mar 15, 2010 10:03am
Nice trade, i am short from 15,200 myself. also short GBPJPY from 13,750.

Quoting Tenapenny
Target almost hit, may get a pull back then hopefully going south again.
  • #182
  • Mar 16, 2010 1:36pm Mar 16, 2010 1:36pm
Dan or anyone looking to short GBPUSD:

  1. Resistance
  2. Trend Line
  3. 50% Fib
  4. With the trend.

Attached Image (click to enlarge)
Click to Enlarge Name: gbpusd.png Size: 105 KB
  • #183
  • Mar 16, 2010 2:38pm Mar 16, 2010 2:38pm
Quoting bez3000
Dan or anyone looking to short GBPUSD:

  1. Resistance
  2. Trend Line
  3. 50% Fib
  4. With the trend.

Not sure where you TL is drawn from as it seems closeer to the price than mine. Price has gone above the 50% fib so I would only consider a short if price retraces down through it i.e. @ 1.5200. I think 1.5300 is a better entry for a short personally.
Attached Image (click to enlarge)
Click to Enlarge Name: gu.gif Size: 15 KB
  • #184
  • Mar 16, 2010 4:12pm Mar 16, 2010 4:12pm
Quoting bez3000
Dan or anyone looking to short GBPUSD:

  1. Resistance
  2. Trend Line
  3. 50% Fib
  4. With the trend.

Hi bez,

I'm unsure at the moment - looking at the daily chart something is telling me it wants to push higher before dropping. I may be wrong but I am just not comfortable with the action at the moment! Out of my last two G/U shorts one made 100 pips and the other came to breakeven. In my opinion my entries were ok but the lack of pips(!) is also a hint that an upward move might be coming!

I must admit I have taken an experimental long on EUR/USD... after price broke my trendline yesterday it came back down today, re-tested it at 1.3650 then moved up to 1.3700 where I placed a long. I'm playing this one cautiously - it's up about 80 pips at the moment so any sign of it dropping and I will be tightening my stop straight away!

Regards,

Dan
  • #185
  • Mar 16, 2010 4:22pm Mar 16, 2010 4:22pm
Thanks Lovejoy i think 1.5300 is a better entry now i have moved my TL slightly.


Quoting lovejoy80
Not sure where you TL is drawn from as it seems closeer to the price than mine. Price has gone above the 50% fib so I would only consider a short if price retraces down through it i.e. @ 1.5200. I think 1.5300 is a better entry for a short personally.
  • #186
  • Mar 16, 2010 4:24pm Mar 16, 2010 4:24pm
Quoting DanUK
Hi bez,

I'm unsure at the moment - looking at the daily chart something is telling me it wants to push higher before dropping. I may be wrong but I am just not comfortable with the action at the moment! Out of my last two G/U shorts one made 100 pips and the other came to breakeven. In my opinion my entries were ok but the lack of pips(!) is also a hint that an upward move might be coming!

I must admit I have taken an experimental long on EUR/USD... after price broke my trendline yesterday it came back down today, re-tested it at 1.3650...
I'm short GBP at 5250. I've been patient. Looking to short EUR again above 1.38.

Knight Rider
  • #187
  • Mar 16, 2010 4:30pm Mar 16, 2010 4:30pm
Thanks Dan i think i will wait for an entry at 1.5300 area, if it makes it :-)

Quoting DanUK
Hi bez,

I'm unsure at the moment - looking at the daily chart something is telling me it wants to push higher before dropping. I may be wrong but I am just not comfortable with the action at the moment! Out of my last two G/U shorts one made 100 pips and the other came to breakeven. In my opinion my entries were ok but the lack of pips(!) is also a hint that an upward move might be coming!

I must admit I have taken an experimental long on EUR/USD... after price broke my trendline yesterday it came back down today, re-tested it at 1.3650...
  • #188
  • Mar 16, 2010 4:42pm Mar 16, 2010 4:42pm
There is a reasonable argument EUR/USD may go to 3872 and GBP to 5430 before continuing their downtrend. Both targets would be shorts for me.

Knight Rider
  • #189
  • Mar 16, 2010 4:46pm Mar 16, 2010 4:46pm
Quoting Knight Rider
There is a reasonable argument EUR/USD may go to 3872 and GBP to 5430 before continuing their downtrend. Both targets would be shorts for me.

Knight Rider
Out of curiosity... why those exact figures 3872 / 5430?

Regards,

Dan
  • #190
  • Mar 16, 2010 4:58pm Mar 16, 2010 4:58pm
Quoting DanUK
Out of curiosity... why those exact figures 3872 / 5430?

Regards,

Dan
GBP 61.8% from 17 Feb 2010 (daily) and EUR 38.2% from 13 January 2010 (also EMA 50) daily.

As I have said before, I strongly believe the trend is DOWN and what we are seeing here are corrections.

Good trading!

Knight Rider
  • #191
  • Edited 4:48am Mar 17, 2010 4:36am | Edited 4:48am
Hi Dan..
The EUR daily trend line is broken as can be seen on the attach chart there is upward sloping TL and HH HL. With that condition, do you still looking for a short position? Do you change to the daily TF to make last swing fibo with the 50% retracement @1.4000. Until what price do you consider the trend has change? I'm Just a little confuse here as my last 2 trade stopped out in a loss. My last trade has been in profit for 78 pips but I let the win turn into a loss but the rule here is that I will move my SL to BE if it hit +100. I'm thinking maybe a little adjustment is needed. ALso the ADR is now around 100 for eur, do you consider 50 pips for SL is enough? Did anyone already try of using 50pips SL? It just my thinking that sometimes the R:R is not that great with 100 SL.
  • #192
  • Mar 17, 2010 4:38am Mar 17, 2010 4:38am
forget to attach a chart again..
Attached Image (click to enlarge)
Click to Enlarge Name: trade12 h4 print.gif Size: 29 KB
  • #193
  • Mar 17, 2010 5:00am Mar 17, 2010 5:00am
Quoting baz
i dont tend to post here,as i have a slightly different style...BUT,if you look at the WEEKLY, we have just BOUNCED of 61% LEVEL,and a DOUBLE HAMMER is seen.....we have also move a LONG WAY DOWN..
I dont want to distract you from your position BUT a LOOK at HTF can help..
i am LONG from 1.5025....

baz
GBP_USD Spot.png
As stated WEEKLY was TURNING....as for CABLE i agree with KNIGHTRIDER..
8 Hr CHART.....going well UP....BUT watch For PA for shorts...

baz
GBP_USD Spot.png
Attached Image (click to enlarge)
Click to Enlarge Name: GBP_USD Spot.png Size: 16 KB
  • #194
  • Mar 17, 2010 5:44am Mar 17, 2010 5:44am
Quoting carrot_yuli
Hi Dan..
Quoting carrot_yuli
The EUR daily trend line is broken as can be seen on the attach chart there is upward sloping TL and HH HL. With that condition, do you still looking for a short position? Do you change to the daily TF to make last swing fibo with the 50% retracement @1.4000. Until what price do you consider the trend has change? I'm Just a little confuse here as my last 2 trade stopped out in a loss. My last trade has been in profit for 78 pips but I let the win turn into a loss but the rule here is that I will...


Hi,

If I could just refer you to this post: ttp://www.forexfactory.com/showpost.php?p=3556698&postcount=184 my current position is basically as your chart.

The only thing I would add is that the 1.3800/1.3850 level is a key support/resistance level - if price can't break through it we may see a continuation of the downtrend from that point. Just something to be aware of.

With regards to SL/R:R - this method used to use a 50 pip stop loss going back a couple of years (but mainly on EUR/USD). When volatility increased in 2008/2009 the stop loss was increased to 100 pips to counter the increased "noise". In theory this could probably be reduced now to 50 pips on E/U but in my experience 100 pips works fine.

Also, don't be too concerned with R:R - focus more on getting better entries and you will find the R:R will take care of itself. Also, the 100 pip stop loss is a default – used mechanically to prevent from messing up trades by interfering with them however once enough experience is gained discretion can be used to adjust your stop as you see fit – but only once that experience has been gained!

Regards,


Dan
  • #195
  • Mar 17, 2010 6:06am Mar 17, 2010 6:06am
Quoting DanUK
Also, don't be too concerned with R:R - focus more on getting better entries and you will find the R:R will take care of itself. Also, the 100 pip stop loss is a default – used mechanically to prevent from messing up trades by interfering with them however once enough experience is gained discretion can be used to adjust your stop as you see fit – but only once that experience has been gained!
Ok.. thanks for your help.. Need more experience and patient here
  • #196
  • Mar 17, 2010 9:08am Mar 17, 2010 9:08am
MNI EURO-DOLLAR TECHS: 10-Day Momentum Study Turning LowerRES 4: $1.3914 55-day moving averageRES 3: $1.3853/73 Low 1 Feb, 38.2% retracement of Jan/Mar declineRES 2: $1.3838/39 High 9 Feb, 23.6% of Dec/Mar declineRES 1: $1.3818 Hourly highCURRENT LEVEL: $1.3755SUP 1: $1.3736 High 3 MarSUP 2: $1.3627 21-day moving averageSUP 3: $1.3530 Low 5 MarchSUP 4: $1.3460 Current Bollinger band baseCOMMENTARY: Bulls unable to sustain rally and given the sharp fall in10-day momentun study, which is now threatening a break into negativeterritory -- downside risks are building. Needs to break $1.3873/94 tobuild on channel break from Dec, where latter is the 200-week MA,otherwise a return to 21-DMA at $1.3628 is at risk.Happy trading!Knight Rider
  • #197
  • Mar 17, 2010 3:19pm Mar 17, 2010 3:19pm
Quoting Knight Rider
MNI EURO-DOLLAR TECHS: 10-Day Momentum Study Turning LowerRES 4: $1.3914 55-day moving averageRES 3: $1.3853/73 Low 1 Feb, 38.2% retracement of Jan/Mar declineRES 2: $1.3838/39 High 9 Feb, 23.6% of Dec/Mar declineRES 1: $1.3818 Hourly highCURRENT LEVEL: $1.3755SUP 1: $1.3736 High 3 MarSUP 2: $1.3627 21-day moving averageSUP 3: $1.3530 Low 5 MarchSUP 4: $1.3460 Current Bollinger band baseCOMMENTARY: Bulls unable to sustain rally and given the sharp fall in10-day momentun study, which is now threatening a break into negativeterritory -- downside risks...


I think Knight Rider may have gone a little

  • #198
  • Mar 18, 2010 7:05am Mar 18, 2010 7:05am
Quoting DanUK


I think Knight Rider may have gone a little

Do you think it's a trend or will he pull back?
  • #199
  • Mar 18, 2010 9:07am Mar 18, 2010 9:07am
nothing happening at my end. flat all positions and waiting for the next set up. audusd has a long way to fall before i would go long, cable and euro ranging.. nothing much really.
  • #200
  • Mar 18, 2010 11:07am Mar 18, 2010 11:07am
I am finding it the same, very slow.....

Quoting coolshades
nothing happening at my end. flat all positions and waiting for the next set up. audusd has a long way to fall before i would go long, cable and euro ranging.. nothing much really.
0 traders viewing now