Currency trading on D1 time frame

[trader_d]

As discussed on p21 of this thread, you are using discretionary entries. They are too influenced by personal emotions. Greed and fear.
Try to use a more Support and Resistance based entry.

Hi my friend,

I forgot to reply to this post.

While I agree that a discretioanry trader is subject to emotional problems, I don't see how a discretionary trader can not use "Support and Resistance based entry". Actually as stated in first post of this thread, I'm trading a small account in H4 time frame. All entries are purely upon support and resistance studies, and I use my discretion to take positions.

With this daily method my emphasis is more on trends.

Thanks for your post and trade well.

 

[marbig]

Based on yesterday's price action, I'm going to short audusd again.

(T08111) sell audusd @ 1.0184, s/l: 1.0428, t/p: 0.0000 (0.25 x MR)
(T08112) sell limit audusd @ 1.0271, s/l: 1.0428, t/p: 0.9957 (0.25 x MR)

Both audusd short positions are left open over weekend. Let's see what happens when market opens.

A quick whip up has just stopped them out. Bad luck

 

[trader_d]

A quick whip up has just stopped them out. Bad luck

Yes, both have been stopped. euro sell stop is still in place. No other trade for today.

Trade well

 

[trader_d]

Yesterday's price action was bullish for both eurusd and audusd. I still prefer not to take long orders for euro, but I go long on audusd.

new/current orders:

eurusd

sell stop indicated here is still in place

audusd

(T08161) buy audusd at 1.0506, s/l: 1.0339, t/p: 0.0000 (0.25 x MR)
(T08162) buy limit audusd at 1.0430, s/l: 1.0339, t/p: 1.0612 (0.25 x MR)

Trade well

 

[zammitman]

(T08161) buy audusd at 1.0506, s/l: 1.0339, t/p: 0.0000 (0.25 x MR)
(T08162) buy limit audusd at 1.0430, s/l: 1.0339, t/p: 1.0612 (0.25 x MR)

Both of these trades have been activated?

 

[trader_d]

Yesterday's price action was bullish for both eurusd and audusd. I still prefer not to take long orders for euro, but I go long on audusd.

new/current orders:

eurusd

sell stop indicated here is still in place

audusd

(T08161) buy audusd at 1.0506, s/l: 1.0339, t/p: 0.0000 (0.25 x MR)
(T08162) buy limit audusd at 1.0430, s/l: 1.0339, t/p: 1.0612 (0.25 x MR)

Trade well

open/working order status:

eurusd

sell stop indicated here is still in place

audusd

(T08161) buy audusd at 1.0506, s/l: 1.0339, t/p: 0.0000 (0.25 x MR)
s/l moved to 1.0422

(T08162) buy limit audusd at 1.0430, s/l: 1.0339, t/p: 1.0612 (0.25 x MR)
Yesterday t/p missed by 12 points. s/l moved to 1.0422

Trade well

 

[trader_d]

Both of these trades have been activated?

Yes. see above post

 

[pb8856]

long this morning GBP/AUD @ 1.57430 stop at 1.55640

 

[trader_d]

open/working order status:

eurusd

sell stop indicated here is still in place

audusd

(T08161) buy audusd at 1.0506, s/l: 1.0339, t/p: 0.0000 (0.25 x MR)
s/l moved to 1.0422

(T08162) buy limit audusd at 1.0430, s/l: 1.0339, t/p: 1.0612 (0.25 x MR)
Yesterday t/p missed by 12 points. s/l moved to 1.0422

Trade well

both above buy audusd orders stopped. Based on Thursday price action I sell audusd.

open/working order status:

eurusd

sell stop indicated here is still in place

audusd

(T08191) sell audusd at 1.0341, s/l: 1.0571, t/p: 0.0000 (0.25 x MR)
(T08192) sell limit audusd at 1.0430, s/l: 1.0571, t/p: 1.0148 (0.25 x MR)

No new order for eurusd. It is still in its range of 1.4000 - 1.4500.

Trade well

 

[trader_d]

both above buy audusd orders stopped. Based on Thursday price action I sell audusd.

open/working order status:

eurusd

sell stop indicated here is still in place

audusd

(T08191) sell audusd at 1.0341, s/l: 1.0571, t/p: 0.0000 (0.25 x MR)
(T08192) sell limit audusd at 1.0430, s/l: 1.0571, t/p: 1.0148 (0.25 x MR)

No new order for eurusd. It is still in its range of 1.4000 - 1.4500.

Trade well

the above sell audusd orders closed @ 1.0419 and 1.0420 at last trading hour of Friday. I made a mistake when calculating position size of above orders. Risk of T08191 and T08192 were 0.6% and 0.5% respectively.

Trade well

 

[MajorDutch]

the above sell audusd orders closed @ 1.0419 and 1.0420 at last trading hour of Friday. I made a mistake when calculating position size of above orders. Risk of T08191 and T08192 were 0.6% and 0.5% respectively.

Trade well

so is there any methodology behind these trades that you want to share?

 

[trader_d]

No new position is taken today.
eurusd is still in its range of 1.4000 - 1.4500.
audusd is at a pivot level. It is not clear if it wants to go up or down.

open/working order status:

eurusd

sell stop indicated here is still in place

Trade well

 

[trader_d]

so is there any methodology behind these trades that you want to share?

Read this post.

Feel free to post comments/questions.

 

[trader_d]

audusd is at a pivot level. It is not clear if it wants to go up or down.

Well ... yesterday audusd closed above its pivot level. So I'm gonna buy audusd.

open/working order status:

eurusd

sell stop indicated here is still in place

audusd

(T08241) buy audusd @ 1.0482, s/l: 1.0352, t/p: 0.0000 (0.5 x MR)


Trade well

 

[trader_d]

Well ... yesterday audusd closed above its pivot level. So I'm gonna buy audusd.

open/working order status:

eurusd

sell stop indicated here is still in place

audusd

(T08241) buy audusd @ 1.0482, s/l: 1.0352, t/p: 0.0000 (0.5 x MR)


Trade well

buy audusd closed at 1.0573 (16:45 NYT). I'll probably buy again on Saturday night.

Have a nice weekend.

 

[trader_d]

buy audusd closed at 1.0573 (16:45 NYT). I'll probably buy again on Saturday night.

Have a nice weekend.

OK ... market opened and I bought audusd again. Still no trade for eurusd unless I got a close above 1.4500 level

Open/working orders:

(T08291) buy audusd @ 1.0585, s/l: 1.0406, t/p: 0.0000 (0.25 x MR)
(T08292) buy limit audusd @ 1.0522, s/l: 1.0406, t/p: 1.0754 (0.25 x MR)

MR = 1%

eurusd sell stop deleted

Trade well

 

[trader_d]

OK ... market opened and I bought audusd again. Still no trade for eurusd unless I got a close above 1.4500 level

Open/working orders:

(T08291) buy audusd @ 1.0585, s/l: 1.0406, t/p: 0.0000 (0.25 x MR)
(T08292) buy limit audusd @ 1.0522, s/l: 1.0406, t/p: 1.0754 (0.25 x MR)

MR = 1%

eurusd sell stop deleted

Trade well

yesterday audusd moved higher. my buy limit order was not activated, so I delete it (T08292 deleted) and add another buy limit.

Open/working orders:

(T08291) buy audusd @ 1.0585, s/l: 1.0406, t/p: 0.0000 (0.25 x MR)
s/l moved to 1.0550

(T08301) buy limit audusd @ 1.0619, s/l: 1.0550, t/p: 1.0757 (0.25 x MR)
new order

MR = 1%

Trade well

 

[trader_d]

yesterday audusd moved higher. my buy limit order was not activated, so I delete it (T08292 deleted) and add another buy limit.

Open/working orders:

(T08291) buy audusd @ 1.0585, s/l: 1.0406, t/p: 0.0000 (0.25 x MR)
s/l moved to 1.0550

(T08301) buy limit audusd @ 1.0619, s/l: 1.0550, t/p: 1.0757 (0.25 x MR)
new order

MR = 1%

Trade well

Positions status:


Open/working orders:

(T08291) buy audusd @ 1.0585, s/l: 1.0406, t/p: 0.0000 (0.25 x MR)
s/l moved to 1.0585

(T08301) buy limit audusd @ 1.0619, s/l: 1.0550, t/p: 1.0757 (0.25 x MR)
not activated and deleted

Trade well

 

[traderman1]

Positions status:


Open/working orders:

(T08291) buy audusd @ 1.0585, s/l: 1.0406, t/p: 0.0000 (0.25 x MR)
s/l moved to 1.0585

(T08301) buy limit audusd @ 1.0619, s/l: 1.0550, t/p: 1.0757 (0.25 x MR)
not activated and deleted

Trade well

The markets is now closed. Is your audusd trade left open for the weekend?

 

[trader_d]

The markets is now closed. Is your audusd trade left open for the weekend?

Yes. I've left it open.