DanUK Trend Trading Journal 2010

Quoting DanUK

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Hi,

I think it can vary from broker to broker so reliability is probably not as good as other markets but from an intraday perspective the tick data volume seems to be good enough. There are other options available from people like eSignal who use data from lots of different brokers so you get a better overall picture - of course you have to pay for that though!!

Acumen's thread http://www.forexfactory.com/showthread.php?t=98028 is very good for a variety of different ways to approach intraday trading, based around pivot levels, trendlines,...

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Quoting MitchOZ

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You.ve certainly caught my interest...I too would love to explore this further. Are you serious about the skype thing??
rehards
Mitch

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Quoting DanUK

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Ok, the Euro trade I mentioned earlier has just closed out... dissection as follows:

1. Again, not long into the London Open and we get another high volume buying climax at the (possible) end of an uptrend pushing price up through 1.2400 and the prior day high (magenta line).

2. Bearish reaction with a lower close off prior day high (possibly suggesting that professional money may have been pushing price up the bar before shorting) closing below 1.2400.

[color=black][font=Verdana]3....

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Quoting DanUK

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Ok, the Euro trade I mentioned earlier has just closed out... dissection as follows:

1. Again, not long into the London Open and we get another high volume buying climax at the (possible) end of an uptrend pushing price up through 1.2400 and the prior day high (magenta line).

2. Bearish reaction with a lower close off prior day high (possibly suggesting that professional money may have been pushing price up the bar before shorting) closing below 1.2400.

[color=black][font=Verdana]3....

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Quoting DanUK

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Hi,

I think it can vary from broker to broker so reliability is probably not as good as other markets but from an intraday perspective the tick data volume seems to be good enough. There are other options available from people like eSignal who use data from lots of different brokers so you get a better overall picture - of course you have to pay for that though!!

Acumen's thread http://www.forexfactory.com/showthread.php?t=98028 is very good for a variety of different ways to approach intraday trading, based around pivot levels, trendlines,...

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Quoting DanUK

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Hi Mitch,

I think I'll probably start a seperate journal to discuss the intraday strategy a bit further.

The Skype chat would be an interesting idea but time is the problem for me. Also, I don't really think I would be able to offer that much to be honest... it's a learning curve for me too!

Regards,

Dan

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Quoting zoli

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For the fun... we were in the same trade here! I congratulate you as you were doing here good.

My short entry was based on the following concept:
Similar readings but a beautiful set up which you can get from tape reading (VSA if you like). There is a close to perfect NO DEMAND bar 3 bars after bar number 3 on your chart. On the break of the low of that bar I entered short.
As my entry was lower I did get out with a BE - the market stopped me out. That was a winning trade! I executed to a set up and I pulled to BE. As far as I am concerned this...

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Quoting luqmanz

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Hi Dan,

Isnt the volume on Globex Futures adequate to read the volume ? After all, ultimately most brokers/banks/commercials hedge their positions in the futures market.

Futures volume http://timingcharts.com/index.php

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Quoting coolshades

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commander, how goes your intraday system

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Quoting DanUK

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Hi,

Going ok thanks - I had two trades yesterday but both were B/E... I was going to post the charts but then I figured it might be best to start a new journal first.

I have a trade open short G/U too... buying climax shown pushing price up through 1.4750, followed by a move back down with a bearish close - I have a downward bias for the moment so to me this looked like smart money moving price up in order to short.

I sold under the bearish bar marked by the arrow... my stop is now at B/E so it's time to sit back and let the market work it...

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Quoting coolshades

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why not a trade at the previous buying climax candle? (sheesh, what a term!)

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Quoting lovejoy80

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Dan - I'm still reading and learning about trading with VSA (thanks to your recommended threads) but since you are looking at a current GU chart I'd like to ask two questions if I may (I wont start flooding you with questions after this!).

1. Is the down arrow I have on my chart another example of buying climax?
2. How would you interpretate the other bar marked with an arrow as we have excessive volume but a small price spread?

Many thanks

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Quoting herzog21

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DanUK....you got pm!
=)

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Quoting DanUK

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[color=black][font=Verdana]You mean to short it as soon as the buying climax candle closes? I should repeat that I am not an expert in VSA so I can't really offer advice as I could be interpreting things incorrectly, however I believe that in order to see that the buying climax was a fake out we need to see price drop afterwards... my basic thinking here is that if price moved up with such commitment (volume) it would not drop straight away (after that candle) if it had been a real move up... if it had then price would have continued up. Therefore...

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Quoting coolshades

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i refer to the surge corresponding to the previous red volume candle, which i believe is the buying climax candle. see my chart.

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