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DanUK's Intraday Experiment

  • #81
  • Jul 10, 2010 12:42am Jul 10, 2010 12:42am
I am also only getting limited time to trade here but i am always looking at the end of the day for setups. This is my third trade and the first profitable one (although i am demoing the 15m) closed for potential 6%.
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  • #82
  • Jul 10, 2010 1:01am Jul 10, 2010 1:01am
Quoting DanUK
Hi Coolshades,


The last two weeks have been pretty lucky for me - I've been able to access my charts pretty much all day every day but there will be plenty of times when I just won't be able to trade. Speaking of lucky, since starting this journal I am up about 23% so far. Not bad for two weeks work I reckon!

Regards,

Dan

PS... Mmmmm burgers and beers!
Lucky or good trading skills i think maybe the latter, hope you keep it up and we all learn to reach that level.
Nice to think that trading this way full time (as well as daily trading) with a £10k account would have made you £2300 in two weeks and thats not compounded! Not bad work really from a relatively small account. I can hopefully see myself one day soon trading long term charts and 15m scalping for a living
Keep up the good work.
  • #83
  • Jul 10, 2010 1:06am Jul 10, 2010 1:06am
Quoting bez3000
I am also only getting limited time to trade here but i am always looking at the end of the day for setups. This is my third trade and the first profitable one (although i am demoing the 15m) closed for potential 6%.
That's the way to do it! Congratulations on your profitable trade... now all you need to do is "rinse and repeat" as they say!

Actually I meant to say earlier this is my favourite type of setup... because you are with the immediate trend; price breaks a level (daily pivot in this instance) and then pulls back to retest it and is rejected forming a tradable setup. If you were to wait and trade just this setup you would make a very good living out of it!

Regards,

Dan
  • #84
  • Jul 10, 2010 1:07am Jul 10, 2010 1:07am
Quoting bez3000
Lucky or good trading skills i think maybe the latter, hope you keep it up and we all learn to reach that level.
Nice to think that trading this way full time (as well as daily trading) with a £10k account would have made you £2300 in two weeks and thats not compounded! Not bad work really from a relatively small account. I can hopefully see myself one day soon trading long term charts and 15m scalping for a living
Keep up the good work.
Thank you for the compliment!
  • #85
  • Jul 10, 2010 1:53am Jul 10, 2010 1:53am
Hi Dan and Others,

I have been demo trading the EUR/USD, and the GBP/USD
and so far I have had good success using this experimental system.
Does anybody recommend any other pairs that would be good?

Regards, -JoelD
  • #86
  • Jul 12, 2010 5:28am Jul 12, 2010 5:28am
Made a nice 6% on this pin today
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  • #87
  • Jul 12, 2010 6:08am Jul 12, 2010 6:08am
eurjpy

Quoting JoelD
Hi Dan and Others,

I have been demo trading the EUR/USD, and the GBP/USD
and so far I have had good success using this experimental system.
Does anybody recommend any other pairs that would be good?

Regards, -JoelD
  • #88
  • Jul 12, 2010 8:17am Jul 12, 2010 8:17am
Quoting bez3000
Made a nice 6% on this pin today
Nice!
  • #89
  • Jul 12, 2010 8:20am Jul 12, 2010 8:20am
Quoting JoelD
Hi Dan and Others,

I have been demo trading the EUR/USD, and the GBP/USD
and so far I have had good success using this experimental system.
Does anybody recommend any other pairs that would be good?

Regards, -JoelD
Yes I would add EUR/JPY works well... speaking of which; this one should be self-explanatory... +4% for today.
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  • #90
  • Jul 12, 2010 9:00am Jul 12, 2010 9:00am
Quoting DanUK
Yes I would add EUR/JPY works well... speaking of which; this one should be self-explanatory... +4% for today.
Hi Dan i missed this one as i was working, but looking back i spotted it but thought it would have ended up as BE? Are you not moving to BE when x1 is achieved which it would have been hit before coming back and getting stopped out? Just interested how you are managing your stops.
Nice trade though
  • #91
  • Jul 12, 2010 10:43am Jul 12, 2010 10:43am
Quoting bez3000
Hi Dan i missed this one as i was working, but looking back i spotted it but thought it would have ended up as BE? Are you not moving to BE when x1 is achieved which it would have been hit before coming back and getting stopped out? Just interested how you are managing your stops.
Nice trade though
Actually I did almost move my stop to BE on this. I'm glad I didn't though. Price came to 111.57 - my 1:1 was at 111.56 so it only missed by 1 pip. I did debate it for a little while but as it hadn't actually turned on support I decided to let it go. It's a bit of a tricky one because if I did get taken out for a loss I would have been kicking myself for not moving to BE for the sake of 1 pip!!!

I will generally move my stop to BE at 1:1 or if price hits a support level before this and seems to stall I will move to BE then. One thing I have noticed about intraday trading is that during the peak hours (London & NY) price rarely stops/turns in mid air! It tends to happen at either a pivot level or psych level.

Regards,

Dan
  • #92
  • Jul 12, 2010 10:47am Jul 12, 2010 10:47am
Hi Dan,

Yes! I took that very same trade, the pinbar right off of 112.00, then closed the trade at S1, 111.47, this was a 1:1 trade.

As soon as I learn how to include charts here, I will try to contribute more here.

Question: how do you figure the percentage of your profit?

Regards, JoelD
  • #93
  • Jul 12, 2010 10:53am Jul 12, 2010 10:53am
Another GBPUSD today.
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  • #94
  • Jul 12, 2010 10:55am Jul 12, 2010 10:55am
Quoting JoelD
Hi Dan,

Yes! I took that very same trade, the pinbar right off of 112.00, then closed the trade at S1, 111.47, this was a 1:1 trade.

As soon as I learn how to include charts here, I will try to contribute more here.

Question: how do you figure the percentage of your profit?

Regards, JoelD
Hi JoelD,

Congratulations on your trade! Targeting the next level of support or resistance is also a good way to trade this method.

I use Oanda's profit calculator tool on their website to determine my position size - if that's what you mean?

Regards,

Dan
  • #95
  • Jul 13, 2010 5:43am Jul 13, 2010 5:43am
Ok - I sold this nice little pin bar on EUR/USD this morning. It wasn't perfect as I would have liked a lower close but I liked the location - resistance from 1.2550 and S1.

I was planning to move to BE on 1:1 at 1.25273 but it didn't quite make it so I took a 2% loss this morning! Doh!
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  • #96
  • Jul 13, 2010 8:21am Jul 13, 2010 8:21am
Quoting DanUK
Ok - I sold this nice little pin bar on EUR/USD this morning. It wasn't perfect as I would have liked a lower close but I liked the location - resistance from 1.2550 and S1.

I was planning to move to BE on 1:1 at 1.25273 but it didn't quite make it so I took a 2% loss this morning! Doh!
I spotted this one and was going to ask if you had taken it for a loss, i guess its just one of those things, is this your first loss using this strategy? If so thats incredible to make 10 trades and only have one loser! It makes this a very profitable system.
  • #97
  • Jul 13, 2010 8:29am Jul 13, 2010 8:29am
Quoting bez3000
I spotted this one and was going to ask if you had taken it for a loss, i guess its just one of those things, is this your first loss using this strategy? If so thats incredible to make 10 trades and only have one loser! It makes this a very profitable system.
Hi bez,

No it's not my first loss trading this way but it is my first loss since starting this journal.

It's been good going so far with this strategy - it's not a 90% win ratio (in the long run) but it's probably around 70% if you pick the best setups.

Regards,

Dan
  • #98
  • Jul 13, 2010 8:44am Jul 13, 2010 8:44am
Still 70% is very good when you think that the % return on the wins is normally higher than the risks? Dan are you still going to post your daily results?

#
Quoting DanUK
Hi bez,

No it's not my first loss trading this way but it is my first loss since starting this journal.

It's been good going so far with this strategy - it's not a 90% win ratio (in the long run) but it's probably around 70% if you pick the best setups.

Regards,

Dan
  • #99
  • Jul 14, 2010 1:08am Jul 14, 2010 1:08am
Traded this BEOB this morning, i wasn't to sure on it so moved to BE early (lucky for me).
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  • #100
  • Jul 14, 2010 1:27am Jul 14, 2010 1:27am
Quoting bez3000
Still 70% is very good when you think that the % return on the wins is normally higher than the risks? Dan are you still going to post your daily results?

#
Oh yes - anything over 40% win rate on a 1:2 ratio will make a profit so it's very good!
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