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DanUK Trend Trading Journal 2010

  • #361
  • Jun 23, 2010 7:54am Jun 23, 2010 7:54am
Quoting coolshades
on the euro, there was a small pin of r1 a few bars back which would have lead to b/e by now. not that i took it.
That would have worked out well for a 1:2 trade. I didn't take it either... my reason that it would run right into the daily pivot without enough room to get stops to B/E.
  • #362
  • Jun 23, 2010 2:03pm Jun 23, 2010 2:03pm
on this cable pin, made 50 pip. likely cable will run to 1.5, however i was not able to monitor trade for long and had to exit early.

intraday is still fun and games for me and highly unlikely that it will be my main trading style. unless ofcourse my employer pays me to sit in front of charts all day.

the tom williams book is rather heavy going. is there a simpler write up of volume around? i have googled but havent come up with anything.
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  • #363
  • Jun 23, 2010 2:27pm Jun 23, 2010 2:27pm
Quoting coolshades
on this cable pin, made 50 pip. likely cable will run to 1.5, however i was not able to monitor trade for long and had to exit early.

intraday is still fun and games for me and highly unlikely that it will be my main trading style. unless ofcourse my employer pays me to sit in front of charts all day.

the tom williams book is rather heavy going. is there a simpler write up of volume around? i have googled but havent come up with anything.
If you look on this thread on the first post under references there is a 32 page summary of the Tom Williams book...or have you read this one?
  • #364
  • Jun 23, 2010 3:47pm Jun 23, 2010 3:47pm
Quoting coolshades
on this cable pin, made 50 pip. likely cable will run to 1.5, however i was not able to monitor trade for long and had to exit early.

intraday is still fun and games for me and highly unlikely that it will be my main trading style. unless ofcourse my employer pays me to sit in front of charts all day.

the tom williams book is rather heavy going. is there a simpler write up of volume around? i have googled but havent come up with anything.
Hi Coolshades,

You beat me to it... I was going to post this trade earlier but I got too involved in watching the footy!

I took the same trade although my reasoning was also based on the fact that volume was indicating buying (as per chart). On my feed the bar closed above R1 which was also a good sign for me.

How did you manage your trade? I targeted 1.4950 as this coincided with R2 and made it a 1:2 trade for me.

Looks like you and me are ganging up on the market!

I have to admit I am finding intraday trading quite fun too! I'll probably go and blow my mini account now I've said that, lol!!

Regards,

Dan
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  • #365
  • Jun 23, 2010 3:48pm Jun 23, 2010 3:48pm
Quoting DanUK
How did you manage your trade?
Never mind... I just realised you already explained this!
  • #366
  • Jun 23, 2010 4:26pm Jun 23, 2010 4:26pm
your stop would have been at 4850 right? so an exit at 4950 would have been 1:1 ? unless i am missing something.

you are atleast trading a mini account. i am trading a $25 account!

who knows, if i achieve consistency and am able to devote time, i might top it.


Edit - I think 8-4 London hours are the best time for finding set ups for intraday.

Quoting DanUK
Hi Coolshades,

You beat me to it... I was going to post this trade earlier but I got too involved in watching the footy!

I took the same trade although my reasoning was also based on the fact that volume was indicating buying (as per chart). On my feed the bar closed above R1 which was also a good sign for me.

How did you manage your trade? I targeted 1.4950 as this coincided with R2 and made it a 1:2 trade for me.

Looks like you and me are ganging up on...
  • #367
  • Jun 24, 2010 2:04am Jun 24, 2010 2:04am
Quoting coolshades
your stop would have been at 4850 right? so an exit at 4950 would have been 1:1 ? unless i am missing something.

you are atleast trading a mini account. i am trading a $25 account!

who knows, if i achieve consistency and am able to devote time, i might top it.


Edit - I think 8-4 London hours are the best time for finding set ups for intraday.
Hi coolshades,

I think you must have had a bit too much juice last night! You are right, my stop was at 4850 but my entry was the break of that bar (the pin) at 4883 so my exit at 4950 gave a 1:2 trade! Hope that makes things clearer!

I agree with you - I only trade intraday during London hours, the other hours are too slow... you might be ok trading them on 1M charts lol!

Regards,

Dan
  • #368
  • Jun 24, 2010 2:33am Jun 24, 2010 2:33am
are you watching selling c on cable?

Quoting DanUK
Hi coolshades,

I think you must have had a bit too much juice last night! You are right, my stop was at 4850 but my entry was the break of that bar (the pin) at 4883 so my exit at 4950 gave a 1:2 trade! Hope that makes things clearer!

I agree with you - I only trade intraday during London hours, the other hours are too slow... you might be ok trading them on 1M charts lol!

Regards,

Dan
  • #369
  • Jun 24, 2010 2:42am Jun 24, 2010 2:42am
Guys what pairs are you watching on the 15m?
  • #370
  • Jun 24, 2010 2:45am Jun 24, 2010 2:45am
Quoting coolshades
the tom williams book is rather heavy going. is there a simpler write up of volume around? i have googled but havent come up with anything.
I have a copy of the Tom Williams Master the Markets book but to me it looks like a big advert for TradeGuider software??
  • #371
  • Jun 24, 2010 2:47am Jun 24, 2010 2:47am
i have stopped reading it. google for his earlier book. it doesnt have the traderguide stuff. i have stoppred reading that too. largely because it needs a lot of leisure time to absorb and digest and i am lacking that right now.

quote=bez3000;3826157]I have a copy of the Tom Williams Master the Markets book but to me it looks like a big advert for TradeGuider software??[/quote]
  • #372
  • Jun 24, 2010 2:48am Jun 24, 2010 2:48am
only cable and euro for me.

bez - i have to emphasise, this will NEVER replace daily tf trading for me. i just dont have the time. i post a lot inspite of my job, thks to my iphone.

Quoting bez3000
Guys what pairs are you watching on the 15m?
  • #373
  • Jun 24, 2010 3:00am Jun 24, 2010 3:00am
Quoting coolshades
only cable and euro for me.

bez - i have to emphasise, this will NEVER replace daily tf trading for me. i just dont have the time. i post a lot inspite of my job, thks to my iphone.
Thanks coolshades, i have just found the other book "undeclared secrets" so will give it a scan. Think i am being a bit slow on the uptake with this one, not sure how to read the high volume bars yet.
I agree my daily trading is my number one this is a nice to know.
Although my daily trades are not going very well recently!!!!
  • #374
  • Jun 24, 2010 3:20am Jun 24, 2010 3:20am
ditto

Quoting bez3000
Think i am being a bit slow on the uptake with this one, not sure how to read the high volume bars yet.
I
  • #375
  • Jun 24, 2010 3:38am Jun 24, 2010 3:38am
would have been 1:2 atleast. did i take it?

no! despite watching it, was busy on the phone with my boss. someone should tell him not to inconvenience me.
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  • #376
  • Jun 24, 2010 3:59am Jun 24, 2010 3:59am
Quoting coolshades
would have been 1:2 atleast. did i take it?

no! despite watching it, was busy on the phone with my boss. someone should tell him not to inconvenience me.
What were the reasons for this trade? sorry abit slow on the uptake.
  • #377
  • Jun 24, 2010 4:19am Jun 24, 2010 4:19am
Quoting coolshades
are you watching selling c on cable?
Sorry I'm not sure what you mean? I must be getting a bit slow!
  • #378
  • Jun 24, 2010 4:21am Jun 24, 2010 4:21am
Quoting bez3000
Guys what pairs are you watching on the 15m?
Hi bez3000,

Mainly watching GBP/USD, EUR/USD and EUR/JPY... they are the three that I used to watch primarily when I studied intraday trading before. I do occasionally have a quick glance at other popular pairs like USD/CHF, USD/JPY and USD/CAD but I don't tend to trade them.

Regards,

Dan
  • #379
  • Jun 24, 2010 4:26am Jun 24, 2010 4:26am
Quoting bez3000
Thanks coolshades, i have just found the other book "undeclared secrets" so will give it a scan. Think i am being a bit slow on the uptake with this one, not sure how to read the high volume bars yet.
I agree my daily trading is my number one this is a nice to know.
Although my daily trades are not going very well recently!!!!
That's ok - it took me a while to begin to understand. The book is like an advert but it's worth reading just to grasp some of the concepts they are "advertising"!

VSA is about understanding what is going on in the background... something that helped me to grasp the concept was this question:

If price makes a big move up on high volume (like the buying climax candles I posted earlier) but then fails to go any higher - what does that tell you?

Let me know what you think and I'll tell you if you came to the same conclusion as me (although I should stress again I am by no means an expert on this subject)! It's quite simple really.

Regards,

Dan
  • #380
  • Jun 24, 2010 4:32am Jun 24, 2010 4:32am
Quoting DanUK
That's ok - it took me a while to begin to understand. The book is like an advert but it's worth reading just to grasp some of the concepts they are "advertising"!

VSA is about understanding what is going on in the background... something that helped me to grasp the concept was this question:

If price makes a big move up on high volume (like the buying climax candles I posted earlier) but then fails to go any higher - what does that tell you?

Let me know what you think and I'll tell you if you came to the same [color=black][font=Verdana]conclusion...
It would tell me that the high volume was selling volume rather than buying volume. Because if it was buying volume the next bar would have gone higher? That sounds good to me!
If thats right i guess its just a case of reading the bars before it as well. Think i will plot up in the sun and have a read of ther book
Thanks Dan, can you post more charts as you take trades this is the best way for me to learn.
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