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Trade with basic concepts

  • #1
  • First Post: Edited Nov 1, 2010 2:36am Sep 2, 2010 9:59am | Edited Nov 1, 2010 2:36am
Trade with basic concepts
I have been trading for 4.5 years. Here I start my trading journal, and I will try to post every trade I take.
some basic concepts:
Trend:
Trend is permutation and combination of main and corrective waves.
There are four corrective waves: Simple, ABC, Triangle, 12345.
Setting of the chart:
8 EMA
21 EMA
34 EMA
89 SMA
200 SMA
ZigZag(6,5,3)
MACD H4-300(5,13,1)
myMACD(12,26,9)
I have see the chart with these indicators for several years, if I took all the indicators off the chart, it looks strange to me.
M15 chart: 34 EMA(close), 34 EMA(close), 34 EMA(close), and Zigzag (6, 5, 3).
How to trade:
determine trend on H4 or H1 Timeframe and wait corrective wave comes to end.
And take M15 break out in the direction of main waves.
If price goes to Fibo 261.8% level I will close 50% of the position and let the other 50% run. After that I will close the trade according to the price movement. Profits with RR ration > 1:1 is ok.
I trade EURUSD, GBPUSD, AUDUSD, XAUUSD, USDCAD and EURJPY.
Risk 1% of my balance for a single trade.

Sep: -2.63%
Oct: -2.37%

Dhalsim
Attached Image
Success is the small sum of efforts, repeated day in and day out.
  • #2
  • Sep 2, 2010 10:24am Sep 2, 2010 10:24am
I trade EURUSD, GBPUSD, AUDUSD, XAUUSD, USDCAD and EURJPY.
Risk 1% of my balance for a single trade.

If the stoploss was hit, just close the position and wait for next opportunity.
If I am satisfied with the pips the markets give to me, I close the trade too.
There are no rules for profit taking, just do it according to experience.

Please keep the thread clean and positive. And thank you for visiting.

Dhalsim
Success is the small sum of efforts, repeated day in and day out.
  • #3
  • Sep 2, 2010 10:49am Sep 2, 2010 10:49am
Just an example.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: DHALSIM-01.gif Size: 32 KB
Click to Enlarge Name: DHALSIM-03.gif Size: 35 KB
Success is the small sum of efforts, repeated day in and day out.
  • #4
  • Edited 7:49pm Sep 2, 2010 7:25pm | Edited 7:49pm
All the best with your journal. I will be following it.
  • #5
  • Sep 2, 2010 8:07pm Sep 2, 2010 8:07pm
buy GBPUSD 1.5408 Stoploss 1.5386
Success is the small sum of efforts, repeated day in and day out.
  • #6
  • Sep 2, 2010 9:02pm Sep 2, 2010 9:02pm
Quoting dhalsim
buy GBPUSD 1.5408 Stoploss 1.5386
I like this trade i see big upside potential joined you at 1.5418
Happy Trading
  • #7
  • Sep 2, 2010 9:57pm Sep 2, 2010 9:57pm
sell AUDUSD 0.9084 Stoploss 0.9119
Success is the small sum of efforts, repeated day in and day out.
  • #8
  • Sep 2, 2010 10:04pm Sep 2, 2010 10:04pm
xeneric and extract

thank you, lets make pips together.

dhalsim
Success is the small sum of efforts, repeated day in and day out.
  • #9
  • Sep 3, 2010 2:34am Sep 3, 2010 2:34am
Quoting dhalsim
sell AUDUSD 0.9084 Stoploss 0.9119
close the trade at 0.9094, -10 pips.
Counter trend trade was always dangerous.

I would update the pictuers tomorrow.
Success is the small sum of efforts, repeated day in and day out.
  • #10
  • Sep 3, 2010 3:38am Sep 3, 2010 3:38am
closed at 1.5400, -8 pips
GBPUSD collapse
Success is the small sum of efforts, repeated day in and day out.
  • #11
  • Sep 4, 2010 2:26am Sep 4, 2010 2:26am
Trade 1 pictures
Attached Image(s) (click to enlarge)
Click to Enlarge Name: 2010 09 04 Demo 06.jpg Size: 200 KB
Click to Enlarge Name: 2010 09 04 Demo 07.jpg Size: 155 KB
Success is the small sum of efforts, repeated day in and day out.
  • #12
  • Sep 4, 2010 2:27am Sep 4, 2010 2:27am
Trade 2 pictures
Attached Image(s) (click to enlarge)
Click to Enlarge Name: 2010 09 04 Demo 08.jpg Size: 174 KB
Click to Enlarge Name: 2010 09 04 Demo 09.jpg Size: 150 KB
Success is the small sum of efforts, repeated day in and day out.
  • #13
  • Sep 8, 2010 8:33pm Sep 8, 2010 8:33pm
buy EURUSD 1.2737, Stoploss 1.2712
Success is the small sum of efforts, repeated day in and day out.
  • #14
  • Sep 8, 2010 11:00pm Sep 8, 2010 11:00pm
Quoting dhalsim
buy EURUSD 1.2737, Stoploss 1.2712
Stoploss -25 pips
Success is the small sum of efforts, repeated day in and day out.
  • #15
  • Sep 9, 2010 2:08am Sep 9, 2010 2:08am
Trade 3 pictures
Attached Image(s) (click to enlarge)
Click to Enlarge Name: 2010 09 09 Demo 01.jpg Size: 158 KB
Click to Enlarge Name: 2010 09 09 Demo 02.jpg Size: 154 KB
Success is the small sum of efforts, repeated day in and day out.
  • #16
  • Sep 20, 2010 10:19pm Sep 20, 2010 10:19pm
buy GBPUSD 1.5581 Stoploss 1.5558
Success is the small sum of efforts, repeated day in and day out.
  • #17
  • Sep 21, 2010 2:21am Sep 21, 2010 2:21am
Stoploss 1.5558, -23 pips
Success is the small sum of efforts, repeated day in and day out.
  • #18
  • Sep 25, 2010 4:06am Sep 25, 2010 4:06am
Trade 4 pictures
I will have plenty of time in the coming week, and I will take more trades.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: 2010 09 25 Demo 01.jpg Size: 163 KB
Click to Enlarge Name: 2010 09 25 Demo 02.jpg Size: 155 KB
Success is the small sum of efforts, repeated day in and day out.
  • #19
  • Sep 25, 2010 4:21am Sep 25, 2010 4:21am
Usually I get up at 6 o'clock and my trading time is 6:00-23:00 GMT+8.
I go to sleep after 23:00.
Success is the small sum of efforts, repeated day in and day out.
  • #20
  • Sep 27, 2010 2:07am Sep 27, 2010 2:07am
buy AUDUSD 0.9589 stoploss 0.9571
Success is the small sum of efforts, repeated day in and day out.
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