Hi FXfelix, May I ask... why do you currently have a short bias? Regards, Dan

Jacko's Forex House of Pleasure and Pain

19th June 2009 — Both E/U and G/U have been quite range bound this week. I still have no entry on E/U. I am waiting to see if the upper trendline (sloping down) is going to hold or break! I have tried going long at 1.6250 three times on G/U ...

DanUK Simple EUR/USD Trading Journal 2009

Hi Slurpee, You are correct - strictly speaking if you are trading the 4H chart you should still be looking for long positions. Your upper trendline looks OK but your lower trendline is a horizontal support/resistance line - not a trendline. I have ...

Jacko's Forex House of Pleasure and Pain

That's an interesting strategy. How is it working out for you? Regards, Dan

DanUK Simple EUR/USD Trading Journal 2009

Hi Siuol, I find it best to draw my fibs off the 4 hour chart... unless they get broken in the opposite direction, in which case I draw a fib on the daily chart to see what the overall picture might be. Regards, Dan

DanUK Simple EUR/USD Trading Journal 2009

Trade Update My G/U trade closed at 1.6400 for +100 pips this afternoon. Current thoughts on gu... if we see 1.6200 again I will be looking for it to act as support and for price to shoot back up. If not, I can see price dropping down to the 1.5500 ...

DanUK Simple EUR/USD Trading Journal 2009

16th June 2009 — I do not currently have an open position on E/U. Although I have an overall bias to longs at the moment, I am seeing lower highs and lower lows on the 4 hour chart and the upward trendline has broken. So, zooming out to the ...

DanUK Simple EUR/USD Trading Journal 2009

11th June 2009 — New Positions EUR/USD long @ 1.4000 GBP/USD no open position (I missed my entry yesterday at 1.6300)

DanUK Simple EUR/USD Trading Journal 2009

Hi Siuol, I only use the 1 hour charts to pin-point my entry. I tend to use the 4 hourly chart as my main chart to decide on where I am likely to enter and I use the dailies/weeklies to help give overall trend direction. For example, let's take the ...

DanUK Simple EUR/USD Trading Journal 2009

10th June 2009 — Trade Update Both of my trades from Monday closed today... EUR/USD long from 1.3850 closed at 1.4050 GBP/USD long from 1.5850 closed at 1.6350

DanUK Simple EUR/USD Trading Journal 2009

Hi anwarsadique, I believe you are referring to this post: http://www.forexfactory.com/showpost.php?p=2765992&postcount=121 I always open a new position with a 100 pip stop loss. If you have a look at the charts included with that post you should ...

DanUK Simple EUR/USD Trading Journal 2009

Hi c49ermoose, Sorry I've not been able to post here recently - been so busy, in the middle of moving home so everything is in a mess at the moment! Yes I got stopped out on the 1.4200 long for a loss. I didn't AH it though because price didn't drop ...

DanUK Simple EUR/USD Trading Journal 2009

Not everyone missed that move

Jacko's Forex House of Pleasure and Pain

Hi Howard, Yes you are correct – I just got a PM explaining!! I misunderstood the question. I trade just the 1 lot, so it is 100 pips per trade – not 2 lots of 50 etc!! Hopefully that is the answer! Regards, Dan PS... Sorry about that oookie! My ...

DanUK Simple EUR/USD Trading Journal 2009

Hi Rcwso, In answer to your questions... 1. I move my stop manually, in the manor you suggested. Once price moves 100 pips in my favour, I move to breakeven. Once price moves 200 pips in my favour, I move to +100 and so on. I am not rigid about this ...

Jacko's Forex House of Pleasure and Pain

Hi equilibrium6, It is my understanding that was all in his past. And although some of his "turtles" do take counter-trend trades the main method he uses is with the trend as described here. As far as the method is concerned I would stick to the ...

Jacko's Forex House of Pleasure and Pain

Hi oookie, I'm not keen on discussing my finances that closely on a public forum; however it doesn't really make any difference how many lots are used... the key question is what percentage return is it worth? For me, it is 2% for 100 pips. If you ...

DanUK Simple EUR/USD Trading Journal 2009

4th June 2009 — Ok I am back in again: EUR/USD Long @ 1.4200 GBP/USD Long @ 1.6300

DanUK Simple EUR/USD Trading Journal 2009

Hi RickyRudy, March was my best month; I took 2400 pips and lost only 100. February and April were both 900 pip months (profit) which was my lowest so far. My biggest losses were in January - 800 pips, however I did gain 3000 pips so I ended up with ...

DanUK Simple EUR/USD Trading Journal 2009

Hi Siuol, I would say that the 1.4250 area is not significant enough, I like to see support and resistance show up clearly on a weekly or daily chart. The 1.4100 area however is a definite level to watch. Although I mentioned specifically 1.4050 I ...

DanUK Simple EUR/USD Trading Journal 2009