Attachments: DanUK's Intraday Experiment

DanUK's Intraday Experiment

#141
Jul 16, 2010 11:36am Jul 16, 2010 11:36am

coolshades
| Joined Nov 2006 | Status: very junior member | 1,576 Posts

am confused now. your sl on this system and while trading on Oanda is 2.9 right?

Quoting DanUK

Disliked

2 pips includes the spread! Hence why it's only traded on EUR/USD with 0.9 spread.

Today's trade was 2% risk (or 1% per pip). However, I do feel that was too high and I will drop it to 1% risk (or 0.5% per pip) next time I trade this (Monday morning).

It's very tight but it does seem to work. There will of course be plenty of stop outs but the R:R should take care of it (1:70). Also you will find that many times you will be at breakeven rather than at a loss. The idea is to move your stop pretty much every half a pip... so when you start you...

Ignored

#142
Jul 16, 2010 11:41am Jul 16, 2010 11:41am

DanUK
Joined Nov 2008 | Status: You must obey the dance commander | 2,038 Posts

Quoting coolshades

Disliked

am confused now. your sl on this system and while trading on Oanda is 2.9 right?

Ignored

Just 2.

#143
Jul 18, 2010 6:49am Jul 18, 2010 6:49am

bez3000
| Joined Feb 2009 | Status: Trading Made Simple K.I.S.S | 773 Posts

Dan sent you a PM but my system messed up so dont know if it went or it went about 5 times??????

#144
Jul 18, 2010 8:35am Jul 18, 2010 8:35am

DanUK
Joined Nov 2008 | Status: You must obey the dance commander | 2,038 Posts

Quoting bez3000

Disliked

Dan sent you a PM but my system messed up so dont know if it went or it went about 5 times??????

Ignored

4 times lol!!

#145
Jul 19, 2010 3:30am Jul 19, 2010 3:30am

DanUK
Joined Nov 2008 | Status: You must obey the dance commander | 2,038 Posts

Guys, as you will know (I saw you there!) the Central Banks system had another cracking trade this morning.

I was aiming for 1.3000 but I chickened out for 100 pips instead!

I decided over the weekend that I am sticking with the 2% initial risk... because I'm only trading it on my intraday account (and the fact that it almost doubled on Friday!) I feel I can play this a bit aggressively.

As you can imagine I am feeling pretty damned ecstatic about the last two trades!!

Hope you guys did well too.

Entry:

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#146
Jul 19, 2010 3:56am Jul 19, 2010 3:56am

JoelD
| Joined Oct 2007 | Status: Trader | 62 Posts

Hi Dan,
Amazing, I did the same, 100 pips off the London open!!
I am just using a demo account with O---da, but the simplicity of this way of trading coulc not get any better!

Will have another go at the New York open.

All the best - JoelD

#147
Jul 19, 2010 4:11am Jul 19, 2010 4:11am

coolshades
| Joined Nov 2006 | Status: very junior member | 1,576 Posts

same here, but much lower return due to the fact that i scaled out at 30, and 50 pips and still have one trade running.

EDIT: there was also a good selling climax buy on eurjpy earlier this morning. didnt take it since i was tracking the central banks trade

Quoting DanUK

Disliked

Guys, as you will know (I saw you there!) the Central Banks system had another cracking trade this morning.

I was aiming for 1.3000 but I chickened out for 100 pips instead!

I decided over the weekend that I am sticking with the 2% initial risk... because I'm only trading it on my intraday account (and the fact that it almost doubled on Friday!) I feel I can play this a bit aggressively.

As you can imagine I am feeling pretty damned ecstatic about the last two trades!!...

Ignored

#148
Jul 19, 2010 9:13am Jul 19, 2010 9:13am

bez3000
| Joined Feb 2009 | Status: Trading Made Simple K.I.S.S | 773 Posts

Hi Dan what another great result i am sure the hit rate must be better than one per month or are you the luckiest trade around trading it twice and winner big on both occasions lol. Anyway i had to rush out to a meeting so tried a TSL of 35 with a TP of 1.3000 trade stopped out at +75 pips which i am happy with. I love this type of trading but just need to figure out my exit strategy as i would like to be paid more often even a smaller amount so TSL might work for me.
I decided to try 35 TSL as looking back over London openings last week 35 pips looked to iron out most of the small pullbacks.
Looking forward to tomorrow morning.

Quoting DanUK

Disliked

Guys, as you will know (I saw you there!) the Central Banks system had another cracking trade this morning.

I was aiming for 1.3000 but I chickened out for 100 pips instead!

I decided over the weekend that I am sticking with the 2% initial risk... because I'm only trading it on my intraday account (and the fact that it almost doubled on Friday!) I feel I can play this a bit aggressively.

As you can imagine I am feeling pretty damned ecstatic about the last two trades!!...

Ignored

#149
Jul 19, 2010 9:15am Jul 19, 2010 9:15am

coolshades
| Joined Nov 2006 | Status: very junior member | 1,576 Posts

what is tsl?

Quoting bez3000

Disliked

Hi Dan what another great result i am sure the hit rate must be better than one per month or are you the luckiest trade around...

Ignored

#150
Jul 19, 2010 9:40am Jul 19, 2010 9:40am

bez3000
| Joined Feb 2009 | Status: Trading Made Simple K.I.S.S | 773 Posts

Quoting coolshades

Disliked

what is tsl?

Ignored

Trailing Stop loss.

#151
Jul 19, 2010 11:14am Jul 19, 2010 11:14am

coolshades
| Joined Nov 2006 | Status: very junior member | 1,576 Posts

the second system that commander has introduced us to should not be seen as a get rich quick system despite commander's marvellous run. there is no such thing as a get rich quick system.

the earlier system using pivots, psych levels and volume is just as good and a steady system. the two systems put together should give good returns on reasonable risk.

my central bank trade (my 1st trade on that) today yielded 10% return on 0.8% risk. it could have been more but i scaled out of my trade. i had two trades actually the second being a loss. the two together = 10%.

#152
Jul 19, 2010 4:45pm Jul 19, 2010 4:45pm

fosters
| Joined Feb 2008 | Status: Trader | 119 Posts

Please I need an EA showing time remaining for the recent candle to close in a chart.

Thanks in advance.

#153
Jul 20, 2010 6:04am Jul 20, 2010 6:04am

captmilkdud
| Joined Oct 2008 | Status: Trader | 146 Posts

Quoting DanUK

Disliked

Hi Pip,
I use "FXI Pivots" indicator .... Mine is set to my broker hours which seems to work well for me (GMT+1).
Dan

Ignored

Hey Dan. I was wondering how do you edit this indicator? Only way I can is through right clicking the chart and selecting "Indicator List" and selecting FXI... and click "edit" but it only allows me to change colors, etc., not times.

Thanks

#154
Jul 20, 2010 6:31am Jul 20, 2010 6:31am

DanUK
Joined Nov 2008 | Status: You must obey the dance commander | 2,038 Posts

Quoting bez3000

Disliked

Hi Dan what another great result i am sure the hit rate must be better than one per month or are you the luckiest trade around trading it twice and winner big on both occasions lol. Anyway i had to rush out to a meeting so tried a TSL of 35 with a TP of 1.3000 trade stopped out at +75 pips which i am happy with. I love this type of trading but just need to figure out my exit strategy as i would like to be paid more often even a smaller amount so TSL might work for me.
I decided to try 35 TSL as looking back over London openings last week 35 pips...

Ignored

I think it was just a lucky start!

So far I have had four trades... +90, +100, +2, -2, so I am up 190 pips / percent so far.

I don't think we will see another big win for a little while now so I expect to see quite a few breakevens, losers and small wins.

Regards,

Dan

#155
Jul 20, 2010 6:35am Jul 20, 2010 6:35am

DanUK
Joined Nov 2008 | Status: You must obey the dance commander | 2,038 Posts

Quoting coolshades

Disliked

the second system that commander has introduced us to should not be seen as a get rich quick system despite commander's marvellous run. there is no such thing as a get rich quick system.

the earlier system using pivots, psych levels and volume is just as good and a steady system. the two systems put together should give good returns on reasonable risk.

my central bank trade (my 1st trade on that) today yielded 10% return on 0.8% risk. it could have been more but i scaled out of my trade. i had two trades actually the second being a loss. the...

Ignored

I second this!

It's not a get rich quick system despite my lucky start! I anticipate only one maybe two big wins per month. But most of the time this system will be as boring as any other - there will be plenty of stop outs, breakevens and perhaps small wins but so long as we get at least one big win (100+ pips) per month we will make plenty of £$£$£$

#156
Jul 20, 2010 6:37am Jul 20, 2010 6:37am

DanUK
Joined Nov 2008 | Status: You must obey the dance commander | 2,038 Posts

Quoting fosters

Disliked

Please I need an EA showing time remaining for the recent candle to close in a chart.

Thanks in advance.

Ignored

For what platform? I don't have such a thing either way but if you are looking for this to use with Oanda you won't be able to find anything!

#157
Jul 20, 2010 6:38am Jul 20, 2010 6:38am

DanUK
Joined Nov 2008 | Status: You must obey the dance commander | 2,038 Posts

Quoting captmilkdud

Disliked

Hey Dan. I was wondering how do you edit this indicator? Only way I can is through right clicking the chart and selecting "Indicator List" and selecting FXI... and click "edit" but it only allows me to change colors, etc., not times.

Thanks

Ignored

Hi,

I can't change the time either, I can only change it from weekly/daily pivots or colours/labels etc.

The default seems to be set to work in tune with my brokers' start/end of day/week.

Regards,

Dan

#158
Jul 20, 2010 7:03am Jul 20, 2010 7:03am