My trades by Dave | Page 60 | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

Famous Dave's Trading Journal 9 replies

Liam and Dave's Trades 13 replies

Script/EA to balance losing trades agianst winning trades 23 replies

Daily Trades = Lazy Trades Journal 7 replies

Dave the Trader 31 replies

Attachments: My trades by Dave
Exit Attachments

My trades by Dave

  • #1,181
  • May 29, 2006 9:44am May 29, 2006 9:44am
short 1.2755

s/l 1.2770

target open


Dave
  • #1,182
  • May 29, 2006 10:01am May 29, 2006 10:01am
It's some tight plays you do. Question Dave. How much thought do you put into risk/reward ratios on your trades? How much do you risk on trades like that one?
Always wait for the opportune moment… just be careful not to miss it.
  • #1,183
  • May 29, 2006 10:24am May 29, 2006 10:24am
My s/l are what you'd call agressive (tight)

I place them based on most resent support/resistance.

Hese's chart on current trade. I call this a cliff hanger set up. on 30 min, 1 hr , 4 hr

chart is on 30 min because it signaled with 4ema crosses 8ema, macD cross, stoch cross

you can see this same set up on the 1 hr


Now price has hit the 1 hr middle bolli so I'll wach the 1hr and lower charts to see if it looks like it will break below 1 hr bolli.

A break below confirms trade for more profits. Or I'll exit on a failer to break.

Dave
Attached Image
  • #1,184
  • May 29, 2006 10:25am May 29, 2006 10:25am
heres chart again

http://img226.imageshack.us/img226/7...nger9jc.th.jpg
  • #1,185
  • May 29, 2006 10:35am May 29, 2006 10:35am
here is my indacater list:

4ema
8ema
21ema(middle bolli)
89ema
144ema
199ema
macD 13/21/8
RSI 21
stoch 15/5/5

notice most are fibonacci multiples

89/144/199= trend indacater and resistance/support levels
21 ema= entry/target level
macD/stoch=entry signal
RSI cross of 50 line confirmation signal and trade direction signal

Dave
  • #1,186
  • May 29, 2006 10:41am May 29, 2006 10:41am
Great stuff. :-)
Always wait for the opportune moment… just be careful not to miss it.
  • #1,187
  • May 29, 2006 10:46am May 29, 2006 10:46am
price testing 4 hr support at the last 4 hr candles low 1.2742....

This can be an exit point if it don't break. Then wait for a new short signal....

I wach the 1,5 min charts to see if its gonna turn back up.

and since the price went 10+ pips in my favor if the price returns to my entry the trade is over. Leaving it in would be gambling.

The price will move when its ready not when I'm ready. Ultimate target is a 1.2700 retest. But you don't know if this is the signal that will take the price there or not.

Dave
  • #1,188
  • May 29, 2006 10:57am May 29, 2006 10:57am
Quoting xxDavidxSxx
short 1.2755

s/l 1.2770

target open


Dave
Moving s/l to 3 above break even.


Dave
  • #1,189
  • May 29, 2006 11:05am May 29, 2006 11:05am
pt: 1.2736


+ 19 pips
  • #1,190
  • May 29, 2006 11:15am May 29, 2006 11:15am
Price is reaching the bottom bolli on the 1 hr chart. So I'll use that as my exit.


risk was 15 pips ( s/l is just for a system or server failer.) If price moved against me 5 pips I'd have exited. Because I entered right at resistance. I know immediatly if its good or not. Thats why you see me PT with -3 pips sometimes or +3 sometimes. Market might not be ready for your trade.

reward is 19 pips


40/60

Notice how the price never went against my position. Thats why I can trade 400:1 leverage and 5-10 lots.

I have a method on 1 min/ 5min chart for exact entry but that one is my own personal secret.


Dave
  • #1,191
  • May 29, 2006 11:54am May 29, 2006 11:54am
Quoting xxDavidxSxx
Price is reaching the bottom bolli on the 1 hr chart. So I'll use that as my exit.




Dave
price bounced off 1 hr bolli bottom band.

Still don't have a signal that price will continue down on 1,5 min chart.

I am going to enjoy my memorial day now. My work is done.

Dave
  • #1,192
  • May 29, 2006 2:31pm May 29, 2006 2:31pm
Dave, I have read your thread and have regarded your charts as top notch. However, if you've got a "secret method" that you cannot share, good for you but all my interest in your thread has gone. This is a forum for exchange of data and advice.
  • #1,193
  • May 29, 2006 2:39pm May 29, 2006 2:39pm
I will say that Dave does not have any "secret" systems

He is just a very passionate trader, surfing the charts on daily basis.
  • #1,194
  • May 29, 2006 4:19pm May 29, 2006 4:19pm
Quoting fxfrancais
Dave, I have read your thread and have regarded your charts as top notch. However, if you've got a "secret method" that you cannot share, good for you but all my interest in your thread has gone. This is a forum for exchange of data and advice.
Well I'm sory you feel that way.

But I belive your the only one.

I had written a big long paragraph defending myself. But I erased it because it's not nessacery. Some people cann't see the forest for the trees.

If there is any one else that feels like you do please speak up.

Dave
  • #1,195
  • May 29, 2006 4:20pm May 29, 2006 4:20pm
Quoting avlasov
I will say that Dave does not have any "secret" systems

He is just a very passionate trader, surfing the charts on daily basis.
Thank you. I can tell you can see the forest dispite the trees.


Dave
  • #1,196
  • May 29, 2006 4:20pm May 29, 2006 4:20pm
Hi Francais,
Every trader has some ‘secrets’ or proprietary techniques if you wish, which are not necessarily for sharing, so you should not get upset and respect Dave’s decision. Dave has contributed quite a lot (over 800 messages) and it’s totally up to him what he wishes to post here. If you read his entire thread you probably learnt a lot…
Besides, why would you be interested in 1 min entries...?

happy trading,
Mark

Quoting fxfrancais
Dave, I have read your thread and have regarded your charts as top notch. However, if you've got a "secret method" that you cannot share, good for you but all my interest in your thread has gone. This is a forum for exchange of data and advice.
  • #1,197
  • May 29, 2006 5:21pm May 29, 2006 5:21pm
Secret... oh yeah, it's called experience.
Always wait for the opportune moment… just be careful not to miss it.
  • #1,198
  • Edited 9:42pm May 29, 2006 9:34pm | Edited 9:42pm
Price is moving up tward the middle daily bolli band. wich falls just below 1.2800.

this order is pending a failer at or near 1.2800.
s/l is pending reverse signal on failer.

I'll post if entry is taken or not.
And there is good resistance at 1.2780 with the 89 ema and 199 ema. So price might not make it to the daily middle bolli.

Short entry 1.2785/87

s/l 1.2815

1st target 1.2750

2nd 1.2700

3rd 1.2650

Dave

edit middle daily bolli at 1.2787 ( price lable got in the way of seeing the price where bolli is.).....entry changed
  • #1,199
  • May 29, 2006 9:45pm May 29, 2006 9:45pm
Well said, however we can talk about experience when you have 20 years of tranding under your belt, not when you're 20..

Quoting fxvision
Secret... oh yeah, it's called experience.
  • #1,200
  • Edited 9:55pm May 29, 2006 9:49pm | Edited 9:55pm
price poking above daily middle bolli

wait for entry.... price at 1.2795 now

price approaching top of 4 hr bolli band.....1.2811

waiting....
4 traders viewing now