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Trade with basic concepts

  • #61
  • Oct 19, 2010 9:28am Oct 19, 2010 9:28am
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.

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.

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)
or no indicator at all.

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.

Dhalsim

PS: It is not a good habit to edit the first post of the thread, so I paste the first post here. And I will edit the first post later.
Success is the small sum of efforts, repeated day in and day out.
  • #62
  • Oct 19, 2010 9:48am Oct 19, 2010 9:48am
http://www.forexfactory.com/showthread.php?t=114792

I changed M15 Chart setting as 34 EMA (High, Low and Close) and Zigzag(6, 5, 3),
sometimes the system give the same signal as Sonic R. System.
Success is the small sum of efforts, repeated day in and day out.
  • #63
  • Oct 19, 2010 11:16am Oct 19, 2010 11:16am
Quoting dhalsim
After 18 Trades, there was 5% drawdown of my account. I thinks over and over.

The biggest problems with my trading were:
1. Did not take all the signals. The signal I did not take produced profit, and the signal I enter got some loss. So I must enter every signal the system shows to me.
2. Have not a plan to take profit. I did not have a plan to manage the trade. So I write my TP plan here. If price goes to Fibo 200% level I will move stoploss to breakeven, If price goes to Fibo 261.8% level I will close 50% of the position and let the other 50%...
I have reviewed the signals the system gave to me in several weeks. And I think move stoploss to breakeven is not a good idea.

So if price goes to Fibo 261.8% level I will close 50% of the position and let the other 50% run. Any Profits with RR ration > 1:1 is ok.
Success is the small sum of efforts, repeated day in and day out.
  • #64
  • Oct 20, 2010 7:33pm Oct 20, 2010 7:33pm
Trade 19 sell EURUSD 1.3944 stoploss 1.3983
Trade 20 sell AUDUSD 0.9847 stoploss 0.9881
Trade 21 sell EURJPY 113.07 stoploss 113.38
Success is the small sum of efforts, repeated day in and day out.
  • #65
  • Oct 20, 2010 8:24pm Oct 20, 2010 8:24pm
Trade 21 Stoploss hit -32 pips
Success is the small sum of efforts, repeated day in and day out.
  • #66
  • Oct 20, 2010 9:04pm Oct 20, 2010 9:04pm
Trade 22 sell GBPUSD 1.5835 Stoploss 1.5850
Success is the small sum of efforts, repeated day in and day out.
  • #67
  • Oct 21, 2010 2:35am Oct 21, 2010 2:35am
Trade 20 closed at 1 pips
I dont know whether it will go down. and I enter this trade too late.
otherwise I could colse some position at Fibo 2618.

EURUSD and GBPUSD both close 50% position at Fibo 2618.
Success is the small sum of efforts, repeated day in and day out.
  • #68
  • Oct 21, 2010 3:09am Oct 21, 2010 3:09am
Trade 19 and 22 closed

Trade 19 7 pips, I should move stoploss to Breakeven after price went to Fibo 2618.

Trade 22, closed manaully, 43 pips
Success is the small sum of efforts, repeated day in and day out.
  • #69
  • Oct 21, 2010 3:11am Oct 21, 2010 3:11am
buy XAUUSD 1345 stoploss 1340.1
Success is the small sum of efforts, repeated day in and day out.
  • #70
  • Oct 21, 2010 7:03am Oct 21, 2010 7:03am
Trade 23 closed at 1 pips
Success is the small sum of efforts, repeated day in and day out.
  • #71
  • Oct 21, 2010 7:05am Oct 21, 2010 7:05am
Quoting dhalsim
Trade 23 closed at 1 pips
Double top formed on M15 chart. and the price moved slowly.
So I closed the trade.

I have a short bias on XAUUSD.
There is a sell stop order at 1140.
Success is the small sum of efforts, repeated day in and day out.
  • #72
  • Oct 21, 2010 7:39am Oct 21, 2010 7:39am
So trade 24 entered 1140.08 Stoploss 1148.3
Success is the small sum of efforts, repeated day in and day out.
  • #73
  • Oct 21, 2010 7:42am Oct 21, 2010 7:42am
Quoting dhalsim
So trade 24 entered 1140.08 Stoploss 1148.3
Trade 24 was based on H1 chart,
price break previous low on H1 zigzag.
Success is the small sum of efforts, repeated day in and day out.
  • #74
  • Oct 21, 2010 9:41am Oct 21, 2010 9:41am
XAUUSD bounce quickly on M15 trend line, it seems I was wrong this time.
Try to get out at BE.
Success is the small sum of efforts, repeated day in and day out.
  • #75
  • Oct 21, 2010 9:53am Oct 21, 2010 9:53am
I could not trade tomorrow, it is such a pity.
If it is down trend on EURUSD GBPUSD AUDUSD XAUUSD and EURJPY, there will be some goog setups tomorrow. H4 corrective waves may come to end.
Success is the small sum of efforts, repeated day in and day out.
  • #76
  • Oct 21, 2010 9:56am Oct 21, 2010 9:56am
Quoting dhalsim
XAUUSD bounce quickly on M15 trend line, it seems I was wrong this time.
Try to get out at BE.
I am out with 1 pip
Success is the small sum of efforts, repeated day in and day out.
  • #77
  • Oct 21, 2010 10:05am Oct 21, 2010 10:05am
there is a buy stop order on USDCAD,
If it is not triggered in an hour it will be canceled.
Success is the small sum of efforts, repeated day in and day out.
  • #78
  • Oct 21, 2010 10:21am Oct 21, 2010 10:21am
Quoting dhalsim
there is a buy stop order on USDCAD,
If it is not triggered in an hour it will be canceled.
USDCAD buy stop trigger at 1.0223 Stoploss 1.0175
Success is the small sum of efforts, repeated day in and day out.
  • #79
  • Oct 21, 2010 10:30am Oct 21, 2010 10:30am
sell EURJPY 113.46 Stoploss 113.78
Success is the small sum of efforts, repeated day in and day out.
  • #80
  • Oct 21, 2010 10:36am Oct 21, 2010 10:36am
Finally XAUUSD came down, but I have no position now
Success is the small sum of efforts, repeated day in and day out.
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