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My trades by Dave

  • #1,021
  • Apr 24, 2006 11:23pm Apr 24, 2006 11:23pm
Quoting hugobossv8
Dave, what were the bad feelings that you had about fxdd? I was also thinking of going with them. I'm not sure about GFT...are you sure that you trust them to give you an automated direct to interbank execution?
FXDD is great but I want 400:1. They offer 200:1.





Short 1.2395

s/l 1.2410

target: 1.2347

Dave
  • #1,022
  • Apr 25, 2006 12:35am Apr 25, 2006 12:35am
Is that a limit order? Or did you get stopped out at 1.2413?

I have noticed you use very tight SL's. Don't you believe in some market conditions that actually increases your risk? Just wondering...
Always wait for the opportune moment… just be careful not to miss it.
  • #1,023
  • Apr 25, 2006 10:23am Apr 25, 2006 10:23am
Dave,

Where do you think the Euro/USD is headed now?
  • #1,024
  • Apr 25, 2006 7:22pm Apr 25, 2006 7:22pm
Quoting fxvision
Is that a limit order? Or did you get stopped out at 1.2413?

I have noticed you use very tight SL's. Don't you believe in some market conditions that actually increases your risk? Just wondering...
Yes I got stopped.

My tight s/l is because my entrys are close to turning points. Notice the price still hasn't gone my way since it stopped me out. And made new highs.

The 4 hr MacD has been on top of the signal line for 24 hrs now. It might poke 1 below then 1 above. It poked below last night and I entered the trade.


And about increasing my risk. Why would I want to enter the market at a point where I might need 30-50 pip s/l? I plan a move like this.......

Point A is s/l.......this is the direction I think it will travel the least distance. Daily support/resistance.

Point B is target.......this is the direction it will travel the most distance.

Then point C is entry.....I wait for the price to get as close to point A as possible...ie: 10-15 pips. Retest of daily support/resistance.

All this is determined by daily support/resistance calculated off of NY session. And MacD and Ma crosses tell me if and when the price will retest and stall out for an entry. If the s/l is hit this usually means market is undecided or pushing further past support/resistance.


Right now I am just waching the market. It is at a big pivot. But could consilidate for a few days in the range of the below chart wedge.

Dave
  • #1,025
  • Apr 25, 2006 7:26pm Apr 25, 2006 7:26pm
Quoting hugobossv8
Dave,

Where do you think the Euro/USD is headed now?
Daily chart

Possible break on the top side of the wedge. Wach tomarrow for confirmation on the next daily candle.

TSI has broken top side and is testing the 30 line. So theres plenty of room to extend up.

Market is pointing up.

No trades.....yet.

That top red trend line falls near 1.2600


Dave
Attached Image
  • #1,026
  • Apr 25, 2006 8:55pm Apr 25, 2006 8:55pm
Heres another shot of the above chart.


Dave

edit: notice the stochastics(middle indacater) reaching into over bought territory above the 80 line....
Attached Image
  • #1,027
  • Apr 25, 2006 9:58pm Apr 25, 2006 9:58pm
Observation:

Pull up 4 hr chart. And look at the price at 04:00 and at 16:00. EDST (NY)


What do these two times have in common?


Dave
  • #1,028
  • Apr 25, 2006 10:40pm Apr 25, 2006 10:40pm
Quoting xxDavidxSxx
Observation:

Pull up 4 hr chart. And look at the price at 04:00 and at 16:00. EDST (NY)


What do these two times have in common?


Dave
Good question, I'm not sure. Any hints?
  • #1,029
  • Apr 26, 2006 12:58am Apr 26, 2006 12:58am
Quoting hugobossv8
Good question, I'm not sure. Any hints?
they are like pivots.

those 2 times fall at the start or end of a move

Dave
  • #1,030
  • Apr 26, 2006 9:28am Apr 26, 2006 9:28am
Dave, I'm thinking of shorting Eur/USD at a limit order of 1.2484. I'm seeing a butterfly forming on the daily chart...what do you think?

You probably already know what a butterfly is, but just in case, here's some more info:
http://www.traders.com/Documentation...seo/Teseo.html
  • #1,031
  • Apr 26, 2006 6:33pm Apr 26, 2006 6:33pm
Quoting hugobossv8
Dave, I'm thinking of shorting Eur/USD at a limit order of 1.2484. I'm seeing a butterfly forming on the daily chart...what do you think?

You probably already know what a butterfly is, but just in case, here's some more info:
http://www.traders.com/Documentation...seo/Teseo.html

If the price gets there mabe.

Dave
  • #1,032
  • Apr 26, 2006 8:12pm Apr 26, 2006 8:12pm
Quoting hugobossv8
Dave, I'm thinking of shorting Eur/USD at a limit order of 1.2484. I'm seeing a butterfly forming on the daily chart...what do you think?

You probably already know what a butterfly is, but just in case, here's some more info:
http://www.traders.com/Documentation...seo/Teseo.html
The price should test 1.2500 and mabe poke 10-25 pips past.

Wait for the price to find resistance and pull back. Then enter on the retest.

And reverse position on a break.

Price is at a monthly turning point.

Here's chart.

MacD approching signal. And there is a small break above the blue Dniapoli MA.

Could go either way. New month next week.


Dave
Attached Image
  • #1,033
  • Apr 26, 2006 9:37pm Apr 26, 2006 9:37pm
so , if i trade long term , i will have a long position right now @ 1.2460 , target profit : 1.2600 , dont use stop lost !
  • #1,034
  • Apr 26, 2006 10:46pm Apr 26, 2006 10:46pm
Quoting xxDavidxSxx
If the price gets there mabe.

Dave
I just placed a limit order trade:
8:44 PM PST
EUR/USD
Short: 1.2486
Take Profit: 1.2456
Stop Loss: 1.2516
  • #1,035
  • Edited 10:25am Apr 27, 2006 9:43am | Edited 10:25am
Quoting hugobossv8
I just placed a limit order trade:
8:44 PM PST
EUR/USD
Short: 1.2486
Take Profit: 1.2456
Stop Loss: 1.2516
My order was filled and I got stopped out at -30 pips. Price went all the way up to 1.2500 and above as Dave said. The price went up after Unemployment claims in the US were reported at higher than expected numbers: 315K vs 305k. And on top of it Bernanke didn't quite sound as hawkish in his statement...however it sounds like he just doesn't know when the Fed should stop raising rates and will have to see what happens in the economy after the May meeting.

I have discovered a Gartley pattern in the daily chart. It broke through the 1.27 fib, so it's either headed toward 1.62, or it's going to come back down soon. I think since AB must be equal to CD...AB went maybe 65-70% above the 61.8 fib, so perhaps CD must also do the same and go approximately 65-70% above the 1.27 fib. This may mean it may reach the 100 fib at 1.2590 before it heads down.

The chart is attached.

Dave, any thoughts on this? Are you familiar with this pattern?

Here's a link that describes the Gartley and how to calculate it:
http://chart.nu/ta_g.htm
Attached Image
  • #1,036
  • Apr 28, 2006 5:25pm Apr 28, 2006 5:25pm
Quoting adam3000
so , if i trade long term , i will have a long position right now @ 1.2460 , target profit : 1.2600 , dont use stop lost !
Hey Adam Welcome to my thread and forex factory.
Nice trade. Target hit.


Dave
  • #1,037
  • Apr 28, 2006 5:27pm Apr 28, 2006 5:27pm
Hey Hugo.

Sorry I didn't see your posts untill now. I been taking a break.

Price is still in a turning point on the monthly. I am sitting it out for now.

See charts next 2 posts.


Dave
  • #1,038
  • Apr 28, 2006 10:09pm Apr 28, 2006 10:09pm
Here is the monthly chart showing a possible head and shoulders....


Dave
Attached Image
  • #1,039
  • Apr 28, 2006 10:13pm Apr 28, 2006 10:13pm
Here is the same monthly chart showing the E-Wave count.

If you look back to the year end and beginning I was expecting a wace "C" extention. We might have just seen that.


Short as close to 1.2668 as you can. With s/l 10 above that. And reverse position if s/l gets hit.

There is a big move comming. It could still go either way.


Dave
Attached Image
  • #1,040
  • Apr 29, 2006 6:48pm Apr 29, 2006 6:48pm
First thing we should see is a retrace at least to 1.2589 09/01/05 high.

Then a retest of the high. But if 1.2589 doesn't hold support then the 38.2 fibo can be targeted at 1.2485.


Dave
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