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DanUK's Intraday Experiment

  • #241
  • Mar 7, 2011 2:23pm Mar 7, 2011 2:23pm
Quoting DanUK
Slight change of plan on loonie... price failed to break the supply level so I am now short @ 0.9729.

Target is lower level (as shown) or possibly down to 0.9700 if price moves in my favor for that long!
Dan i think i see why you have shorted this pair due to the congestion area of supply and demand then the break to the south showing the bears have taken power, is that correct?
Looking at the Sam Seiden videos he talks about looking left for problem congestion areas before taking a trade, is that something you will be doing?
I hope i got that right as i don't know much about the man as this weekend was the first time i ever heard of him.
I think his idea is to give the trade room to move before finding the next area or supply / demand.
Just some thoughts hope it's ok, i would like to learn more from you and the Seiden videos on the subject.

All the best mate.
Attached Image (click to enlarge)
Click to Enlarge Name: usdcad.jpg Size: 113 KB
  • #242
  • Mar 7, 2011 3:11pm Mar 7, 2011 3:11pm
Quoting bez3000
Dan i think i see why you have shorted this pair due to the congestion area of supply and demand then the break to the south showing the bears have taken power, is that correct?
Looking at the Sam Seiden videos he talks about looking left for problem congestion areas before taking a trade, is that something you will be doing?
I hope i got that right as i don't know much about the man as this weekend was the first time i ever heard of him.
I think his idea is to give the trade room to move before finding the next area or supply / demand.
Just...
Yes that's correct on all fronts.

What I tend to do with the trouble areas on the left is to watch how price reacts to them - if they cut through then fine, if they start to struggle I will be more cautious, consider moving stops or taking a portion of the trade off.

At the moment I am trying out redsword11's method of taking 2/3s off at about 1:1 R:R (if feasible) and then holding the rest. This is where I am now with the USD/CAD trade... it is currently retracing upwards so worst case scenario my final 0.5% comes out at a loss, and with 1% already in the bank I will be net +0.5%... or alternatively price continues down to my target level (ideally 0.9705) for 2% total return. I've not attempted to manage my trades like this in the past but it's actually quite an interesting way of doing things.

Regards,

Dan
  • #243
  • Mar 8, 2011 1:35am Mar 8, 2011 1:35am
I see thanks Dan, might be a silly question but how do you take 2/3 of the trade of the table? Do you open 2 small positions very quickly when you want to enter then close 2 of them at 1:1?

Quoting DanUK
Yes that's correct on all fronts.

What I tend to do with the trouble areas on the left is to watch how price reacts to them - if they cut through then fine, if they start to struggle I will be more cautious, consider moving stops or taking a portion of the trade off.

At the moment I am trying out redsword11's method of taking 2/3s off at about 1:1 R:R (if feasible) and then holding the rest. This is where I am now with the USD/CAD trade... it is currently retracing upwards so worst case scenario my final 0.5% comes out at a loss, and with 1%...
  • #244
  • Mar 8, 2011 3:53am Mar 8, 2011 3:53am
Currently short USD/CHF and thinking about going long EUR/USD... will post charts shortly
  • #245
  • Mar 8, 2011 6:26am Mar 8, 2011 6:26am
Quoting DanUK
Currently short USD/CHF and thinking about going long EUR/USD... will post charts shortly
This was my USD/CHF short @ 0.9335 from this morning... took 2/3's off at 1:1 (coincided with the blue zone) and the rest remains open.

Didn't get an entry on EUR/USD in the end.
Attached Image (click to enlarge)
Click to Enlarge Name: USD_CHF_2011-03-08.png Size: 36 KB
  • #246
  • Mar 8, 2011 6:28am Mar 8, 2011 6:28am
Quoting bez3000
I see thanks Dan, might be a silly question but how do you take 2/3 of the trade of the table? Do you open 2 small positions very quickly when you want to enter then close 2 of them at 1:1?
It depends on the platform... with Oanda you can set a counter-order for 2/3s of your position but on MT4 you have to select the volume of the trade you wish to close and do it manually unless you have time to open both positions in the first place!
  • #247
  • Mar 8, 2011 11:55am Mar 8, 2011 11:55am
Dan what do you think of my chart attached? Any thought welcome.
Attached Image (click to enlarge)
Click to Enlarge Name: uj.jpg Size: 210 KB
  • #248
  • Mar 8, 2011 1:08pm Mar 8, 2011 1:08pm
Quoting bez3000
Dan what do you think of my chart attached? Any thought welcome.
That's the plan!

Being a bit cautious at 82.60 now though
Attached Image (click to enlarge)
Click to Enlarge Name: 18 USD_JPY_2011-03-08.png Size: 40 KB
  • #249
  • Mar 8, 2011 1:18pm Mar 8, 2011 1:18pm
Quoting DanUK
Slight change of plan on loonie... price failed to break the supply level so I am now short @ 0.9729.

Target is lower level (as shown) or possibly down to 0.9700 if price moves in my favour for that long!
First 2/3's out at 1:1 (+1%) but the remainder got spiked out... so +0.5% in the end.
  • #250
  • Mar 8, 2011 1:20pm Mar 8, 2011 1:20pm
Quoting DanUK
This was my USD/CHF short @ 0.9335 from this morning... took 2/3's off at 1:1 (coincided with the blue zone) and the rest remains open.

Didn't get an entry on EUR/USD in the end.
Remainder got taken out... so again +0.5% in the end.
  • #251
  • Mar 8, 2011 1:30pm Mar 8, 2011 1:30pm
Here are the other trades made today...

No. 16 AUD/USD Buy @ 1.0095 -1.5% (no chart)

No. 17 EUR/JPY Buy @ 114.68 +2% (chart below)

No. 18 USD/JPY Sell @ 82.71 (chart above) stop moved to breakeven as not liking PA action 82.60 (resistance... possibly now holding as support)

No. 19 AUD/USD Sell @ 1.0101 (chart below)

Bit of an up and down day... missed a couple of trades that I was waiting for but couldn't execute due to "other commitments" so it all rests on the outcome of Trade 19 to see whether or not I will make a profit or a loss today!
Attached Image(s) (click to enlarge)
Click to Enlarge Name: 17 EJ_2011-03-08.png Size: 48 KB
Click to Enlarge Name: 19 AUD_USD_2011-03-08.png Size: 29 KB
  • #252
  • Mar 9, 2011 7:33am Mar 9, 2011 7:33am
Quoting DanUK
No. 19 AUD/USD Sell @ 1.0101 (chart below)

Bit of an up and down day... missed a couple of trades that I was waiting for but couldn't execute due to "other commitments" so it all rests on the outcome of Trade 19 to see whether or not I will make a profit or a loss today!
AUD/USD finally gave me what I wanted so the day ended positive! Could have gone either way though!
  • #253
  • Mar 9, 2011 7:36am Mar 9, 2011 7:36am
Only had one trade so far today, long EUR/USD @ 1.3877...

Trade hit both targets (1.3930 being upper target) and closed +2%
Attached Image (click to enlarge)
Click to Enlarge Name: EUR_USD_2011-03-09.png Size: 34 KB
  • #254
  • Mar 9, 2011 7:48am Mar 9, 2011 7:48am
1.3930 (previous target) appears to be holding so I've taken a short... seeking the lower level as target (don't really like posting live trades... feels like I'm jinxing it!)!
Attached Image (click to enlarge)
Click to Enlarge Name: EU2_2011-03-09.png Size: 46 KB
  • #255
  • Mar 9, 2011 7:58am Mar 9, 2011 7:58am
Quoting DanUK
1.3930 (previous target) appears to be holding so I've taken a short... seeking the lower level as target (don't really like posting live trades... feels like I'm jinxing it!)!
Moved pretty quick... guess I didn't curse it after all! 2/3's off... remainder to run to target (if I'm lucky!).
  • #256
  • Mar 9, 2011 12:49pm Mar 9, 2011 12:49pm
The remainder of my last trade got closed out (to the pip!!) so the trade ended up +0.5% in the end.

I have entered short again @ 1.3917 and am aiming for the lower target area again!
  • #257
  • Mar 10, 2011 3:16am Mar 10, 2011 3:16am
Quoting DanUK
The remainder of my last trade got closed out (to the pip!!) so the trade ended up +0.5% in the end.

I have entered short again @ 1.3917 and am aiming for the lower target area again!
Both targets hit... +2%
  • #258
  • Mar 10, 2011 3:16am Mar 10, 2011 3:16am
Long @ 1.3833
  • #259
  • Mar 10, 2011 4:28am Mar 10, 2011 4:28am
Quoting DanUK
Long @ 1.3833
Chart!
Attached Image (click to enlarge)
Click to Enlarge Name: EU_2011-03-10.png Size: 47 KB
  • #260
  • Mar 10, 2011 7:26am Mar 10, 2011 7:26am
Quoting DanUK
Chart!


Stopped out! -1.5%
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