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DanUK Trend Trading Journal 2010

  • #281
  • Apr 6, 2010 12:36pm Apr 6, 2010 12:36pm
Quoting carrot_yuli
Why you didn't consider to trade @1.3450 level when it was broken down? I think that was the nearest major resistant level that i can see.
Just remembered that I forgot to answer this question... it's a simple answer: I didn't consider a short at 1.3450 because I already had a short from 1.3500!

Regards,

Dan
  • #282
  • Apr 8, 2010 7:22am Apr 8, 2010 7:22am
Quoting DanUK
Just remembered that I forgot to answer this question... it's a simple answer: I didn't consider a short at 1.3450 because I already had a short from 1.3500!

Regards,

Dan

hope your holding on to that. It looks like were testing the low and probabilities are that we will break it. So do you like the daily trading so far? Dont trade for excitement, trade to win..boring but lucrative
  • #283
  • Apr 8, 2010 9:15am Apr 8, 2010 9:15am
how many pairs do you trade now? dont think you used to trade euraud earlier

Quoting DanUK
Just remembered that I forgot to answer this question... it's a simple answer: I didn't consider a short at 1.3450 because I already had a short from 1.3500!

Regards,

Dan
  • #284
  • Apr 8, 2010 11:24pm Apr 8, 2010 11:24pm
Dan, do you still move the SL to break even after the trade is in profit for 100 pips? or you just leave it open with the disaster SL? How many pips usually is for the disaster SL?
Sorry for the many questions i ask..
  • #285
  • Apr 14, 2010 9:32am Apr 14, 2010 9:32am
these are the tough times for trend trading so we wait and get mentally ready for when it resumes or changes
  • #286
  • Apr 15, 2010 2:27am Apr 15, 2010 2:27am
"The trend is your friend", sometimes though, I feel like "Billy no mates"
  • #287
  • Apr 20, 2010 6:16am Apr 20, 2010 6:16am
the thread is dead?
  • #288
  • Apr 20, 2010 2:05pm Apr 20, 2010 2:05pm
must be...

R.I.P.
  • #289
  • Apr 20, 2010 2:35pm Apr 20, 2010 2:35pm
Woah woah woah... to quote Mark Twain "rumors of my death have been greatly exaggerated"

Actually I understand the quote was really "The report of my death is an exaggeration" but I prefer the misquote!

I'm still here trading away... but I must admit I haven't really paid much attention to Forex Factory lately! I realise I have a couple of questions to answer so here we go...

@bboyomega83 - so far the dailies are treating me well, my trading decisions are much easier and I feel I have more freedom from the charts which is a good thing!

@coolshades - now that I am watching dailies I have much more time to analyse more pairs than I did before. I watch about 20 currency pairs at the moment, but obviously don't trade them all at the same time!!

@carrot_yuli - no I don't move to breakeven after 100 pips anymore... due to the fact that I am trading longer term I need to give my trades more breathing room. Typically my initial stop is in the region of 200 pips but my trading is a little more subjective than it used to be so it will vary slightly depending on the situation.

Feel free to continue asking questions... I will endeavor to answer and help whenever I can. I won't be posting as much as I used to because my trading is much slower now but I will happily help anyone if I can.

Regards,


Dan
  • #290
  • Apr 20, 2010 8:52pm Apr 20, 2010 8:52pm
Hi DanUK,

Any Mar 2010 performance result?

cheers,
  • #291
  • Apr 21, 2010 10:08am Apr 21, 2010 10:08am
Quoting kk007
Hi DanUK,

Any Mar 2010 performance result?

cheers,
Hi,

I haven't gotten around to it yet. I will do though.

I think that I will most likely post quarterly results as opposed to monthly now that my trades have a longer life expectancy!

Regards,

Dan
  • #292
  • Apr 21, 2010 10:15am Apr 21, 2010 10:15am
Thanks!
Quoting DanUK
I haven't gotten around to it yet. I will do though.
Please don't! Life is too short to wait!

Quoting DanUK
I think that I will most likely post quarterly results as opposed to monthly now
  • #293
  • Apr 21, 2010 10:23am Apr 21, 2010 10:23am
Quoting kk007
Thanks!


Please don't! Life is too short to wait!
Lol!

The thing is that my trades will be open much longer than they used to so reporting on a monthly basis may not show much change unless I report open positions as well as closed!?

Actually, perhaps it would be best if I gave a summary of open positions as well as positions closed in the month. What do you think about this?

Regards,

Dan
  • #294
  • Apr 21, 2010 10:51am Apr 21, 2010 10:51am
Hi DanUK,

This is a very good idea. When I see some people who report a highly profitable performance with their open positions hidden (such as those on myfxbook.com for example), I wonder how much unrealized drawdown they have.

Do you know some people on this forum advocate a no-stoploss trading strategy, claiming that stoploss is the main reason of their lossing? This sounds hard to believe for many people.

If someone uses a no-stoploss strategy, their closed-trade performance is always positive. You know what I mean?

Cheers,
kk

Quoting DanUK
Lol!

The thing is that my trades will be open much longer than they used to so reporting on a monthly basis may not show much change unless I report open positions as well as closed!?

Actually, perhaps it would be best if I gave a summary of open positions as well as positions closed in the month. What do you think about this?

Regards,

Dan
  • #295
  • Apr 22, 2010 5:47am Apr 22, 2010 5:47am
Quoting kk007
Hi DanUK,

This is a very good idea. When I see some people who report a highly profitable performance with their open positions hidden (such as those on myfxbook.com for example), I wonder how much unrealized drawdown they have.

Do you know some people on this forum advocate a no-stoploss trading strategy, claiming that stoploss is the main reason of their lossing? This sounds hard to believe for many people.

If someone uses a no-stoploss strategy, their closed-trade performance is always positive. You know what I mean?

Cheers,
kk
Hi,

I don't necessarily disagree with a no stop loss approach but if you do that you must be trading with really low leverage... and must be very aware of what you are doing and what your risk really is! Like you say a lot of people do this but don't take into account their negative positions... kind of pretending they aren't there I guess!!

I've got quite a hectic weekend coming up but I shall hopefully find a spare hour to report my trades etc.

Regards,

Dan
  • #296
  • May 5, 2010 1:11am May 5, 2010 1:11am
Hi Dan

Great thread. Are you still using Jacko's AH strategy now that you are using the daily?
  • #297
  • May 5, 2010 2:11pm May 5, 2010 2:11pm
Quoting forexben
Hi Dan

Great thread. Are you still using Jacko's AH strategy now that you are using the daily?
Hi,

I wouldn't rule out using it although these days I tend to place a hard stop loss in an "emergency" position and close my positions manually as and when the situation warrants it.

Regards,

Dan
  • #298
  • May 13, 2010 8:27pm May 13, 2010 8:27pm
Dan,

I have read through your 2010 thread and have a few questions, if you don't mind? Hopefully this hasn't been covered and I just missed it.

1) I understand you are somewhat subjective with your stop placement, but do you tend to move the stop toward b/e as the position moves in your favor or do you exit based on price action and leave the original stop in its place until you make the decision to exit?

2) Do you use a profit target? It seems you do as a lot of your wins are for the same number of pips, but I don't remember that being talked about.

3) Finally, I understand what you wrote about horizontal areas of importance on the weekly charts, but do you go down and mark other areas on the daily as well. If so, are these the ones you use for entering positions? Also, do these always coincide with 00s or 50s?

Thanks
  • #299
  • May 19, 2010 2:25pm May 19, 2010 2:25pm
Well I still haven't gotten together my trading results and posted them here as I intended... this is in part due to my posts over on my other thread - instead of posting things twice (here and there) I've decided to discuss trades taken/being considered on the Trend Trading Chart Thread at http://www.forexfactory.com/showthread.php?t=187619 and will post my results as they close on my journal, here - rather than just letting this journal die!

So to get things going, today I closed my EUR/AUD trades, as follows:

12/01/10 Sell @ 1.5750 +1200
24/02/10 Sell @ 1.5250 +700
12/03/10 Sell @ 1.5000 +450
26/03/10 Sell @ 1.4800 +250
12/04/10 Sell @ 1.4600 +50
18/05/10 Sell @ 1.4200 -250 (Stop Loss Hit)

Net: +2400 pips

All trades closed at 1.4550 with the exception of the last trade which hit it's negative stop loss.

Regards,

Dan
  • #300
  • May 19, 2010 3:07pm May 19, 2010 3:07pm
Hi boz5,

Sorry it seems I missed your post... answers marked up in blue for you...



1) I understand you are somewhat subjective with your stop placement, but do you tend to move the stop toward b/e as the position moves in your favor or do you exit based on price action and leave the original stop in its place until you make the decision to exit?

When I used to trade the H4 charts I used a 100 pip trailing stop - now that I am looking for longer term trades I tend to position my stops behind support/resistance and swing highs/lows. I do still trail the stop but again this is done using strategic positioning as opposed to a fixed number of pips.

2) Do you use a profit target? It seems you do as a lot of your wins are for the same number of pips, but I don't remember that being talked about.

No I always trail my stops when trend trading. I think it is probably just coincidence!

3) Finally, I understand what you wrote about horizontal areas of importance on the weekly charts, but do you go down and mark other areas on the daily as well. If so, are these the ones you use for entering positions? Also, do these always coincide with 00s or 50s?

Yes that's right on all counts - I do use the daily levels for entries and I always adjust them to round numbers.





Hope that helps!

Regards,

Dan
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