Hi Siuol, I'm glad you have resolved your financial situation. My G/U trade closed out today at 1.6350 for 400 pips so I too am looking for my next entry. I am currently watching for action in the 1.6200 area on G/U and the 1.4050 area on E/U. No ...

DanUK Simple EUR/USD Trading Journal 2009

1st June 2009 — Trade Update June started with two positions still open from May. My E/U long (from 28th May) closed at 1.4150 for +300 pips. My G/U long (from 28th May) is still open, stop currently at 1.6350 (+400 pips). A nice way to start ...

DanUK Simple EUR/USD Trading Journal 2009

End of May 2009 Results — May has been a great month for me, mainly because I managed to make it through the whole month without sustaining a loss. I would like to think this is because I am becoming a better trader but I think it is more to ...

DanUK Simple EUR/USD Trading Journal 2009

29th May 2009 — Trade Update GBP/USD Buy @ 1.5800 (from 26th May) closed at 1.5900 (+100 pips, on 27th May). EUR/USD Buy @ 1.3900 (from 26th May) closed at breakeven (on 27th May). Open Positions I currently have the two following positions ...

DanUK Simple EUR/USD Trading Journal 2009

Hi Ricky, I thought that 1.3750 target looked too good to be true! This is where key areas of support and resistance will trump the fib retracements. If you have a look at my chart attached (it's a weekly one) you will see that the 1.3800/1.3850 ...

Jacko's Forex House of Pleasure and Pain

Hi Markmm, I don't think Jacko makes those kind of posts here anymore - I think that sort of thing is (probably) discussed over at his private place. He does still post here when people need help though. Regards, Dan

Jacko's Forex House of Pleasure and Pain

27th May 2009 — Trade Update My GBP/USD Buy @ 1.5800 from yesterday is still open. Stop loss is currently at 1.5900. The EUR/USD Buy @ 1.3900 from yesterday closed today at breakeven. Thinking that we might be about to see a bigger ...

DanUK Simple EUR/USD Trading Journal 2009

Hi RickyRudy, I am waiting for the London session to begin today to see what sort of direction we are likely to get... Personally I wouldn't go long at 1.4050 on a breakout, I would wait for price to get past it, pull back (retest) and then move ...

Jacko's Forex House of Pleasure and Pain

Hi RickyRudy, I'm in (long) at 1.3900. It might have been a bit premature but I have got my stop to breakeven so it's time to wait and see... Regards, Dan

Jacko's Forex House of Pleasure and Pain

26th May 2009 — Today's Positions: GBP/USD Buy @ 1.5800 EUR/USD Buy @ 1.3900 (re-entry; last trade stopped out here at +400 pips)

DanUK Simple EUR/USD Trading Journal 2009

I am sorry to hear that Siuol; I hope you recover soon. Look forward to hearing more from you when you're back up and running! Regards, Dan

DanUK Simple EUR/USD Trading Journal 2009

End of Week Results — My G/U trade from 1.5200 on Monday was closed out yesterday at 1.5700 for +500 pips. Have not made any more trades on G/U this week. My E/U trade from 1.3500 on Monday is still open. Price is sitting just above 1.4000 at ...

DanUK Simple EUR/USD Trading Journal 2009

LOL I'm glad someone is having a read!! EUR struggled at first but managed to blow through 1.3700 with a vengeance!!! Ran right up to 1.3794 where we have hit some more major resistance. I've now moved my stop up to 1.3700 (+200 pips). It will be ...

DanUK Simple EUR/USD Trading Journal 2009

Hi Jacko, Some great pearls of wisdom handed out today! I particularly like this: Forex trading is a thinking mans business. Patience is paid for in dollars....Impatience will cost you dollars almost every time. I think I will print that out in a ...

Jacko's Forex House of Pleasure and Pain

Hi Ricky, Thanks for asking! We've just hit 1.3700 so I have moved my stop up and locked in +100 pips so I can't complain! 1.3700 holds a lot of weight so we might struggle to get past it... time will tell! My G/U trade is also going well. Price is ...

DanUK Simple EUR/USD Trading Journal 2009

Hi Moose, That's pretty much how I see it at the moment. Draw in a trendline connecting the highs and one connecting the lows on your chart and when you get that confluence you mentioned, you know where to look for some action! Regards, Dan PS I've ...

Jacko's Forex House of Pleasure and Pain

Hi Moose, Sorry I misunderstood your question. I may be wwwwrong (as Jacko would say!) but in my opinion that wouldn't quite fit this strategy - that would be more of a breakout strategy as opposed to a trending strategy. However, I would think that ...

Jacko's Forex House of Pleasure and Pain

Hi TCC, I would say that my experience has been pretty similar to you. It took me a long time to get round to the idea of only taking a small number of trades. My biggest concern with only taking a small number of trades was missing out on the ...

Jacko's Forex House of Pleasure and Pain

That's right - no one knows for sure but we can use the tools that Jacko has shown us to guide us to the right area. Also remember the importance of entering at round numbers! Let me know how it turns out - if you still have trouble there are always ...

Jacko's Forex House of Pleasure and Pain

Hi oookie, Are you using the 100 pips stop loss? If you are getting whipsawed out of your trade but your trades tend to work out in the end then I would suggest moving up a timeframe to place your entry. Rather than using the 15m/30m try using the 1 ...

Jacko's Forex House of Pleasure and Pain