Davit's Confluence Trading

all GU shorts closed at 6380
+734 pips

Entered long 2x at 8990
Limit longs 2x at 8960
Limit longs 2x 89
accounts are mbtrading and Oanda

Hi Davit,

Very good results for the moment !!
I have some questions about your trading.
Your way of trading is very well in range bt if there are too strong movement you will loose a lot...
Take a look at the example.

Wish you green pips.
Goodgame42.

I am careful where I enter trades.You are correct that allowing losses to run can eat the account quick.That's why I have no problem taking a loss when the trade no longer is viable.
Certainly lessons learned hard way.
Regards

Added 2 more positions on USD/CHF at 90
long

hey Davit
what do think about this?

To be honest I am confused what you are asking of me.I trade daily chart mostly...
Regards

closed all my Swissy longs
+240pips on both accounts combined
Will go long again once 90 or below

Closed my 3rd batch of shorts on GU
over +400pips
I exceeded my monthly goal by 6% so I am relaxed and will only take best set ups

I have lots of limit orders
could get fill or not.If filled then at great price if not then I'll be a crocodile waiting for big prey.
GU 64 and above 8 of them all short

NU 84 and above all short

USD/CHF 90 and below all long
Only focused on these for now.

Good record Davit. I had long time I didn't post here. I was away from the markets a little bit. Reorganizing my mind. Here are my first trades for the week on Cad.

I hope those shorts worked out for you.I kind of avoiding commodity currencies now since they are all falling apart.Focused on Cable EU and Swissy
Green pips

Finished Jan 2014 with stellar performance 20% gain on equity. Goal is 6% monthly and anything more is gravy.
This means I have Feb,March as "free months" in case I go flat.

Number 1 rule
Preserve Equity
number 2 Rule
Better miss a trade then be Early
Number 3 rule
Impossible is possible!

David,
I am a beginner and I too would like to learn simple trading such as Support/Resistance and market sentiment. I have found a couple of helpful threads here in FF including yours. Would you say that yours strategy is similar to "No Brainer Trades" ( http://www.forexfactory.com/showthread.php?t=86429 ) by BillyRay?

Also, what news service do you use to base your fundamental analysis? Thanks

You misspelled my name...
Its a small thing but trading is about focusing on details.
You should demo whatever system methods you like until you feel comfortable.What I do is some total of everything I went through and read about trading.That's hard to quantify and that's why Trading is an Art form.
Regards

After taking several months off for health reasons, I'm back to trading regularly; though less daily in-and-out scalping and more multi-day positions.

These are my observations for the USD Index which I don't trade but which is useful with respect to trading USD based pairs. It could stop at the 50% retracement of the 2013 range but I think it will continue down to the 61.8% which is 100% of the move from last July to October which translates into further gains for most USD pairs.

USD Index Weekly




USD Index Daily




More specifically, AUD/USD has formed an inverse head and shoulders with a target of 0.95, GBP/USD and EUR/USD have broken out of their ranges targeting 1.7 and 1.425 respectively. The Kiwi is heading towards weekly descending channel resistance at 0.855 then last year's high of 0.865 where it will either turn around in this long-term consolidation zone or continue on to the 2011 high of 0.885 in which case I think the ultimate destination is somewhere closer to USD parity. USD/CAD hit the 50% Fibonacci of the 2009 high at 1.125 not long ago and even though it's broken above the monthly descending resistance line dating back to 2003 (or 2001 depending on how you draw it) I'm not confident it has any further upside to it.

Yen-wise, after the significant gains yesterday (and the entire week for that matter) I had exited my long positions and was hoping for an end-of-week pull back to re-enter which proved, obviously, to be a mistake. The huge gains made in Yen pairs from end of 2012 to the beginning of 2013 proved that you can't always count on pull backs but that's a sound strategy in general which I'm loathe to ignore.

The move down from NFP data today has created good buying opportunities across the board and we'll see shortly (either US open in a few minutes or 10 a.m. EST) if the moves down from NFP this morning are erased as is so often the case of if we have to wait for next week to see prices continuing. I'm not keen to short Yen pairs and would rather wait for them to "settle" from their NFP movement and re-enter long, preferably closer to where they closed out yesterday but I'm willing to be a little more flexible in order to get back in.

KADC welcome back!
As always your logical inputs are appreciated.
In my opinion Kiwi is unlikely to go north pass 87.There is not enough fundamentals.Kiwi is highly correlated with Aussie and both depended on China and Chinese economy is in contraction.I am short heavy on Kiwi targeting 84
Regards

Having great year so far.
From Jan to April
April started with 40 wins zero losses

Currently short on multiple positions on 2 accounts on Kiwi
Targeting 8450 or 84 but may exit at 85 depending on PA

excellent!

pls. post charts often to share your trading views

cheers

It is a fairly tradeable chart. Does any one want to bet on Davit's performance?

#676

Neato, ...brilliant!
Longer Term trades seems in favour!
FXcube