DanUK's Advanced Trend Trading Strategy | Page 50 | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

Advanced Manual Stop Loss Strategy 2 replies

Advanced Strategy Tester 12 replies

DanUK's Intraday Experiment 279 replies

DanUK Simple EUR/USD Trading Journal 2009 1,005 replies

DanUK Trend Trading Journal 2010 433 replies

Attachments: DanUK's Advanced Trend Trading Strategy
Exit Attachments

DanUK's Advanced Trend Trading Strategy

  • #981
  • Jan 16, 2011 3:32pm Jan 16, 2011 3:32pm
Quoting lite27
And what about to sell AUD/CAD? Looks like not bad. Your opinions? Thank you,
Hi lite27,

I don't see any real good reason to sell at the moment. I think we might be seeing a downtrend start here but so far the only evidence of that I see is weakness in the uptrend. I have yet to see the new trend "form" and until then (assuming no position already) the safest thing to do is stay out.

Regards,

Dan
  • #982
  • Jan 16, 2011 4:14pm Jan 16, 2011 4:14pm
Quoting DanUK
Hi Milan,

When you say that the "location" is a problem for you, could you explain a bit more about what you mean?

I'm not going to suggest that this is by any means a "sure thing" - I don't think such a thing exists but I wouldn't be put off by the recent bullish activity. Quite often, when a retracement takes place within a trend it is quite a strong move.

I actually think that this can sometimes be interpreted as the strong shaking out the weak before resuming their move (in this case, back down). In theory at least!

Regards,

Dan...
I am still learning, so any unusual thing makes me watchful. I think the ideal retracement would be 50%, so if there is about 100%, it signs me it could be a reversal. I wouldnt take it, so in the worst, I will miss it. But if anybody see the opportunity, I always like to hear his arguments.
  • #983
  • Jan 16, 2011 4:30pm Jan 16, 2011 4:30pm
Quoting Milan
I am still learning, so any unusual thing makes me watchful. I think the ideal retracement would be 50%, so if there is about 100%, it signs me it could be a reversal. I wouldnt take it, so in the worst, I will miss it. But if anybody see the opportunity, I always like to hear his arguments.
That's fair enough - it's always best to be cautious. The old saying "sometimes no position is the best position" is often true.

My opinion is that the E/U is currently stuck within a range (as per the blue levels on my chart). If it breaks out above the top of the range (and holds) I would consider the bulls to be winning. If that doesn't happen I will be looking for price to break the low of the range to show the trend is continuing.

Regards,

Dan
Attached Image (click to enlarge)
Click to Enlarge Name: eur usd range.gif Size: 21 KB
  • #984
  • Jan 16, 2011 8:50pm Jan 16, 2011 8:50pm
Quoting DanUK
Hi happypi,

What major support do you see nearby?

Regards,

Dan
Hi, I have a major support at 1.3100 area. I saw from weekly chart that price once fell to that area and bounce up immediately. Did I spot the wrong support? pardon me if I am wrong as i am learning.
Thanks, DanUK
  • #985
  • Jan 16, 2011 8:56pm Jan 16, 2011 8:56pm
i took short on EURCAD on open and closed it just now for 80 pips !!!

i see a support line around current price, so i exited the position. if it breaks this support with some force, i will re-enter the short.
  • #986
  • Jan 16, 2011 9:39pm Jan 16, 2011 9:39pm
Quoting roundrock
i took short on EURCAD on open and closed it just now for 80 pips !!!
do you use any trading method or is it traditional beginners luck?
  • #987
  • Jan 17, 2011 12:01am Jan 17, 2011 12:01am
Quoting Milan
do you use any trading method or is it traditional beginners luck?
see one of the posts above. there is a pin bar and it failed to break the resistence point, its in line with overall downtrend. its simple PA method.... read all the posts on PA in this Forum

nothing works by luck.
  • #988
  • Jan 17, 2011 12:15am Jan 17, 2011 12:15am
Quoting roundrock
see one of the posts above. there is a pin bar and it failed to break the resistence point, its in line with overall downtrend. its simple PA method.... read all the posts on PA in this Forum

nothing works by luck.
yeah, I read a lot about PA already. Also I know DanUKs method rest on the stop orders under/above the signal candle. So why you enter by market?
  • #989
  • Jan 17, 2011 12:17am Jan 17, 2011 12:17am
Quoting roundrock
nothing works by luck.
You sure 'bout that? I've had plenty of winning trades that had nothing to do with expertise or good trading...just pure coin-toss luck.
Sentiment: Short on cash. Long on hope.
  • #990
  • Jan 17, 2011 1:50am Jan 17, 2011 1:50am
Quoting Milan
yeah, I read a lot about PA already. Also I know DanUKs method rest on the stop orders under/above the signal candle. So why you enter by market?
i placed limit order 20 pips above friday close on saturday. today morning i woke upto a 80 pip profit, i closed it

there was a spike on opening.... because of this my order was filled
  • #991
  • Jan 17, 2011 1:53am Jan 17, 2011 1:53am
Quoting NeoRio
You sure 'bout that? I've had plenty of winning trades that had nothing to do with expertise or good trading...just pure coin-toss luck.
you might also have some losing trades....

most of beginners trade like this. they 'expect' the price to go up, so they buy. sometimes the expectation turns out to be true.
  • #992
  • Jan 17, 2011 3:21am Jan 17, 2011 3:21am
Quoting roundrock
i took short on EURCAD on open and closed it just now for 80 pips !!!

i see a support line around current price, so i exited the position. if it breaks this support with some force, i will re-enter the short.
Hi roundrock,

Congratulations on your win. I understand your entry but just curious as to why you left at 80 pips?

I tend to aim for longer term moves; for example I too am short E/C at the moment and I am up about 1,100 pips.

Regards,

Dan
  • #993
  • Jan 17, 2011 4:22am Jan 17, 2011 4:22am
i am not a long term trader. i take profits at first trouble/traffic area. i see a support at 1.3160 and another at 1.3085, thats why i got out. if it breaks 3085 with conviction, i will short again on retest
  • #994
  • Jan 17, 2011 10:45am Jan 17, 2011 10:45am
Hi Dan how's the trading going, it's been a while so i thought i would pop in and say hello.
I still trade using the knowledge i learned from you and your threads as the basis of my trading.
So hope you are well and making loads of pips as usual and thanks for all you taught us in your threads.
Happy hunting.

Bez
  • #995
  • Jan 19, 2011 11:51am Jan 19, 2011 11:51am
Hi, everyone, it seem that Dan and other top contributer of this thread post quite frequently lately hence, I decide to join in and post/share any interesting looking chart setup when i found one. So Dan the rules is still daily time frame chart isn't ?
  • #996
  • Jan 19, 2011 4:04pm Jan 19, 2011 4:04pm
sell GF. Sure, last entry finished on the SL, But I think now it is more reliable, better location, better price action.
Attached Image (click to enlarge)
Click to Enlarge Name: gf.gif Size: 18 KB
  • #997
  • Jan 19, 2011 4:06pm Jan 19, 2011 4:06pm
Also EURCHF looks fine. The price was rejected from 1,2940 and made a shooting star.
Attached Image (click to enlarge)
Click to Enlarge Name: ef.gif Size: 17 KB
  • #998
  • Jan 19, 2011 4:10pm Jan 19, 2011 4:10pm
I am already long on the AUDNZD. My entry was based on 4H chart - exceeding of TL
Attached Image (click to enlarge)
Click to Enlarge Name: an.gif Size: 17 KB
  • #999
  • Jan 20, 2011 5:31pm Jan 20, 2011 5:31pm
Quoting Milan
I am already long on the AUDNZD. My entry was based on 4H chart - exceeding of TL
Your trade on the aud/nzd looks good on the daily chart! 200ema & trendline support, oversold stochs add to the direction. I will look for entry on the confirmation first higher low. good luck!!
Attached Image (click to enlarge)
Click to Enlarge Name: AUDNZD2101.jpg Size: 199 KB
  • #1,000
  • Jan 21, 2011 3:34am Jan 21, 2011 3:34am
Hi Dan,

Are you still holding your Eur/cad short? If not, what was your exit strategy and where did you get out?

Regards

Paul
Never underestimate an idiot.
0 traders viewing now