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Trading Journal 2010 34 replies
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Dislikednothing 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.Ignored
DislikedHi,
It's not one I trade but if I was going to take a long at the moment I would probably place an entry at 0.7100 and let price pick it up if the upward momentum resumes. But as has been mentioned the daily chart looks bearish so if I did take that trade I would be very aware of possible trade barriers.
But as I am looking to trade daily charts I guess I would prefer a sell in the 1.72/1.73 area!
Regards,...Ignored
DislikedSo, you are saying that the 0.7000 is a better entry point?
The NZD/USD fails to make lower lows on the daily starting from 22nd of feb, then, it broke to the upside, breaking the 0.7000 barrier. Perhaps, the new uptrend is in place until that bearish daily trendline gets touched.
Thanks for all your thoughts, though.Ignored
DislikedSo, you are saying that the 0.7000 is a better entry point?
The NZD/USD fails to make lower lows on the daily starting from 22nd of feb, then, it broke to the upside, breaking the 0.7000 barrier. Perhaps, the new uptrend is in place until that bearish daily trendline gets touched.
Thanks for all your thoughts, though.Ignored
DislikedHi Dan.
A few posts back you mentioned that you were thinking of trading daily charts only (in pref to 4H). Can you elaborate/expand on your thoughts here?
Thanks
MitchIgnored
DislikedHi Mitch,
It came about towards the end of last year; after having our second child and moving to our new home I found that I had less and less time (and inclination) to study/analyse charts and with an increasing work load I had less and less time to babysit trades! I therefore decided I needed something a little more long term but I still wanted to make a considerable return on my money.
So, at the start of the year (2010) I opened a separate (smaller) account to start trading dailies. My method is...Ignored
DislikedHi Mitch,
It came about towards the end of last year; after having our second child and moving to our new home I found that I had less and less time (and inclination) to study/analyse charts and with an increasing work load I had less and less time to babysit trades! I therefore decided I needed something a little more long term but I still wanted to make a considerable return on my money.
So, at the start of the year (2010) I opened a separate (smaller) account to start trading dailies. My method is...Ignored
DislikedHi guys,
To answer your questions...
I do place a stop loss just in case something really bad happens but in most cases I will close my trades manually if and when I feel it is necessary to do so.
Generally speaking I would like to see earlier positions in profit before adding to a trade but that is not a rule.
Some inspiration was drawn from BWILC but I don't want to discuss that too much due to copyright issues that seem to affect threads (feel free to PM me though if you want).
Regards,
Dan...Ignored
DislikedHi Mitch,
It came about towards the end of last year; after having our second child and moving to our new home I found that I had less and less time (and inclination) to study/analyse charts and with an increasing work load I had less and less time to babysit trades! I therefore decided I needed something a little more long term but I still wanted to make a considerable return on my money.
Ignored