Using the DASR for successful trading | Page 9 | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

Successful Trading & Determining the Probability of a Trading System 10 replies

Successful Fundamentals trading (DAY Trading WILL BE Ignored) 17 replies

Is anyone successful using a large stop loss? 6 replies

New successful trading idea using fibonacci expansion 5 replies

Any Successful trader here using Oanda? 38 replies

Attachments: Using the DASR for successful trading
Exit Attachments

Using the DASR for successful trading

  • #161
  • Jan 20, 2012 6:00am Jan 20, 2012 6:00am
Quoting jmtini
Looks like all bullish pairs for yesterday are in retreat. Would suggest to stand aside this afternoon unless position reverses in a hurry!
Well situation has changed ina hurry!! Could be Euro on the march northwards again this afternoon.

Full marks for our strategy though. Because we DON'T look to sell when price is above our DASR!!
  • #162
  • Jan 20, 2012 6:09am Jan 20, 2012 6:09am
Quoting jmtini
Well smack on wrist time for me!!

GBPUSD bounced nice off our DASR - why did I close the trade??
Well I took GBPJPY long and EURJPY long - looks great on 1 hour - nice bounce
Attached Image (click to enlarge)
Click to Enlarge Name: eurjpy 1 hour.gif Size: 18 KB
  • #163
  • Jan 20, 2012 6:56am Jan 20, 2012 6:56am
AUD/CHF - Now what??
  • #164
  • Jan 20, 2012 7:46am Jan 20, 2012 7:46am
Quoting WhoDunIt
AUD/CHF - Now what??
Hi Wayne - looks like the counter-trend is over.

I would would for a good bullish bar away from support (at our DASR) for confirmation but looks like one can go long again.

rgds
  • #165
  • Jan 20, 2012 7:50am Jan 20, 2012 7:50am
Quoting jmtini
Hi Wayne - looks like the counter-trend is over.

I would would for a good bullish bar away from support (at our DASR) for confirmation but looks like one can go long again.

rgds
Thanks Jerry
If it does turn now and comes out on the short side, then would you take the trade?
  • #166
  • Jan 20, 2012 7:52am Jan 20, 2012 7:52am
EURUSD going sideways now after the strong movement upwards and I've closed my long.
  • #167
  • Jan 20, 2012 8:04am Jan 20, 2012 8:04am
Well I closed my EURGBP for 10 pips and got nothing out of EURJPY - anyone still in GBPUSD
  • #168
  • Jan 20, 2012 8:45am Jan 20, 2012 8:45am
Quoting jmtini
Well I closed my EURGBP for 10 pips and got nothing out of EURJPY - anyone still in GBPUSD
im still long eurusd and gbpusd

eurusd floating around +10
gbpusd however +65 and still going
  • #169
  • Jan 20, 2012 1:12pm Jan 20, 2012 1:12pm
Hi everyone

deankenny is the star for today! Hope the system helped a bit!


Wayne was talking about AUDCHF a while ago and of course when I said to wait for a good candle confirmation for a long trade, I forgot of course the 1 hour chart - quite in order as we were above the 4hr DASR, above pivot point and going in the direction again of the main trend!

Rgds
Attached Image (click to enlarge)
Click to Enlarge Name: audchf 1 hour.gif Size: 21 KB
  • #170
  • Jan 20, 2012 1:35pm Jan 20, 2012 1:35pm
Cable caught up with the Euro today. Looks good for further gains next week and 15750 is the next target IMHO

As deankenny quite probably did is keep track of the trade on the lower time frames or of course keep moving up his SL. All time frames remain firmly bullish going into next week.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: gbpusd daily.gif Size: 25 KB
Click to Enlarge Name: gbpusd 1 hour.gif Size: 20 KB
  • #171
  • Jan 20, 2012 1:40pm Jan 20, 2012 1:40pm
EURUSD quite obviously hit by profit taking today and also bounced off 200 sma on 4 hr chart. Remains fully bullish on ascending trendline (see attached chart)
Attached Image (click to enlarge)
Click to Enlarge Name: eurusd 4 hr.gif Size: 24 KB
  • #172
  • Jan 20, 2012 1:48pm Jan 20, 2012 1:48pm
EUR/USD Mid-Day Outlook
EURUSD Outlook | Written by ActionForex.com | Jan 20 12 13:06 GMT
EUR/USD rebounded further to as high as 1.2985 earlier today before retreating. With 1.2838 minor support intact, rebound from 1.2625 short term bottom is expected to continue to 1.3076 resistance and above. Though, we'd expect strong resistance at 38.2% retracement of 1.4246 to 1.2625 at 1.3244 to limit upside and bring fall resumption eventually. On the downside, below 1.2838 minor support will flip bias back to the downside for retesting 1.2625 low first.

GBP/USD Mid-Day Outlook
GBPUSD Outlook | Written by ActionForex.com | Jan 20 12 13:04 GMT
Near term focus in GBP/USD remains on 1.5500 resistance. Decisive break there will indicate short term bottoming with bullish convergence condition in 4 hours MACD. In such case, stronger rally should be seen back to 1.5773 resistance and above. However, before that, recent decline is still in favor to continue. (GBP now at 15575 so 15773 now the target)
  • #173
  • Jan 21, 2012 7:34am Jan 21, 2012 7:34am
Hi everyone
I have some time free today to answer any questions you might have about our "trading the DASR" trading strategy.

In the meantime I thought we could go back the the morning of 17 th January on the EURUSD pair. Price action was heading north off our DASR on 4 hr chart and we had to go down to the lower time frames to look for a nice entry point. It appeared on the 15 min chart very nicely at exactly 8.00am GMT (circled). Why is that significant? Well it's EXACTLY when London opens! It's a point that I wanted to make a few days ago is very important. Our 8.00am candle (on the 4 hr chart) of course is opening 1 hour before the London market opens and very often one can get a "fake-out" movement during this hour. However after 8.00 am when London opens the real (and sustained) price movement and direction becomes apparent.

Secondly, many people like set a target or TP level at a "round number". Let's say that morning we decided on 12800. It's ALWAYS best to give the market a couple of pips and rather set your target at 12798. The "big boys" know this and often price action will stop fractional above or below a support or resistance level! It can be extremely frustrating to see that your TP was not triggered by a tiny fraction of a pip!!

rgds
Attached Image (click to enlarge)
Click to Enlarge Name: eurusd 15 min.gif Size: 23 KB
  • #174
  • Jan 21, 2012 7:48am Jan 21, 2012 7:48am
Many traders will be looking at their charts over the weekend and scratching their heads as to buy or sell especially when it comes to everyone's favourite pair - EURUSD

Of course we (if we are trading this strategy!) already know that when price is ABOVE the DASR on the 4 hr chart we are ONLY looking to buy.

So where are will we be looking for an entry? Well exprience has taught us that we should always try to find entries on the HIGHER time frames if at all possible. Why? Well because the lower time frames are just not as reliable UNLESS we are in a strong trending situation and we are just looking for a good place to buy (in that situation). So if price action is well above the 4 hr DASR then the nice time frame we can look at is the 1 hr (no 2 hr bars on MT4 platform unfortunately!). Yesterday we did EVENTUALLY see a bullish candle that closed above the DASR on the 1 hr chart but it was at 5.00pm GMT when London closed AND it was a Friday so we really would have been a bit stupid to open a trade then and so it proved.
  • #175
  • Jan 21, 2012 8:01am Jan 21, 2012 8:01am
Of course, we are blessed with about 20 -30 trading pairs to trade on our MT4 platforms so when we saw EURUSD going nowhere for the whole day, we could and should have been looking at other pairs to search for more strongly trending situations. A lovely one appeared on GBPUSD at 1.00pm GMT on the 1 hour chart after we had 2 bullish bars in a row bouncing away from our DASR and pivot point at 15465.

If we missed that we had AUDUSD around the same time. Aussie was looking very strong yesterday and looks set to climb a lot further so it would be good for us to look for further buy entries next week!

We also had GBPCHF as well as AUDCHF which gave us great entries on their 1 hour charts respectively.

rgds
Attached Image(s) (click to enlarge)
Click to Enlarge Name: gbpchf 1 hour.gif Size: 22 KB
Click to Enlarge Name: audusd 1 hour.gif Size: 23 KB
  • #176
  • Jan 21, 2012 8:08am Jan 21, 2012 8:08am
I'll look in later to check for any questions.

Next week ALL are welcome to join in the fun as we look for good entries.

If you open any trades using this system/strategy PLEASE let us know when and why you opened the trade so that we can help each other and learn together! IF it was not a good idea we can tell you and perhaps save you some money - on the other hand if it was a good one we can re-assure you and it might stop you from closing it prematurely!

rgds
  • #177
  • Jan 21, 2012 8:19am Jan 21, 2012 8:19am
Sorry! On 4 hr chart we would not have bought until price action was above the DASR on 4 hr chart of course.
  • #178
  • Jan 21, 2012 8:59am Jan 21, 2012 8:59am
Quoting jmtini
I'll look in later to check for any questions.
Hi jmtini,

I'm following you thread and still I don't have a clear idea about the rules for buying or selling, will you be so kind to ask some doubs ?

Buy:

- You wait for the H4 candle to close ABOVE the DASR line (blue)
- Go to H1 and place a buy with SL at the oposite of DASR (cyan or ligth aqua line), TP1 first DASR line above the main one (55pips away if risk model 0), TP2 at second one, and TP3 at third one (89 and 144 pips away from main DASR line)

The oposite for sell, are these ok ?
  • #179
  • Jan 21, 2012 9:09am Jan 21, 2012 9:09am
Quoting jmtini
Many traders will be looking at their charts over the weekend and scratching their heads as to buy or sell especially when it comes to everyone's favourite pair - EURUSD

Of course we (if we are trading this strategy!) already know that when price is ABOVE the DASR on the 4 hr chart we are ONLY looking to buy.

So where are will we be looking for an entry? Well exprience has taught us that we should always try to find entries on the HIGHER time frames if at all possible. Why? Well because the lower time frames are just not as reliable UNLESS we...
this is the case then to do some homework over the weekend as to what we can expect next week. I will be a buyer next week

1st chart daily- as u can see we closed above the pivot now turning into support

2nd chart weekly - even more powerful tf than daily, again u can see we have gone up and closed above the resistence now making it support. Id expect to see a move maybe down to 2850, but looks more upside for the time being to come
Attached Image(s) (click to enlarge)
Click to Enlarge Name: daily.gif Size: 39 KB
Click to Enlarge Name: wee.gif Size: 44 KB
  • #180
  • Jan 21, 2012 12:41pm Jan 21, 2012 12:41pm
Quoting rbetancor
Hi jmtini,

I'm following you thread and still I don't have a clear idea about the rules for buying or selling, will you be so kind to ask some doubs ?

Buy:

- You wait for the H4 candle to close ABOVE the DASR line (blue)
- Go to H1 and place a buy with SL at the oposite of DASR (cyan or ligth aqua line), TP1 first DASR line above the main one (55pips away if risk model 0), TP2 at second one, and TP3 at third one (89 and 144 pips away from main DASR line)

The oposite for sell, are these ok ?
Hi rbetancor
The basic rule is only buy when price action is above DASR on H4 and sell when price action is below H4.
No I don't think it's necessary to wait for the bullish or bearish H4 candle to close. What we are attempting to do is to go down to the lower time frames (preferably 1 hour as it's usually more reliable) to find a confirmation bullish/bearish candle THAT HAS CLOSED to enter at opening of next candle. SL as you say is quite correct.
I'm not sure what you mean about risk model 0 because if you change the risk model to "0" you have no fib lines. By using risk model "2" which is the default setting on my template you can (I have not discussed this before) actually use fib lines not only to assess the strength of the trade but also to close out the trade when the trend weakens and price action comes but into the first fib line. Have a look at the chart attached and I've circled areas where we could have entered (EURUSD) and where we could have exited. Nice thing is that we're staying with the 1 hour chart all the way!

As you can see, there was actually a possible 200 pips to be had!!

rgds
Attached Image (click to enlarge)
Click to Enlarge Name: eurusd 1 hr.gif Size: 24 KB
0 traders viewing now