Currency trading on D1 time frame

This is a discussion on Currency trading on D1 time frame within the Trading Journals forums, part of the Reception category; Originally Posted by shadowninja Appreciate what you're saying. It's a common belief. My experience has been the opposite. Reward vs ...

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Old Apr 3, 2011, 11:19pm   #211
Joined Aug 2010
Re: Currency trading on D1 time frame

trader_d started this thread
Quote:
Originally Posted by shadowninja View Post
Appreciate what you're saying. It's a common belief. My experience has been the opposite. Reward vs time... use the daily.

I use M5 for the PA, mind. Just looking at it all bunched up tight to get a feel for when it's about to turn.
I have another rule for my D1 trading. When I place an order (buy, sell, ... whatever) at the start of so-called Forex day, i.e. 5pm NY time (9pm GMT), then I won't make any change to my orders until the next day. In other words during this 24 hour period, I won't place any additional orders nor I will modify any of them.

My understanding is that you watch the market during the day from time to time and you may place an order accordingly in any time you want. Is my understanding correct?
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Old Apr 4, 2011, 10:25pm   #212
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Re: Currency trading on D1 time frame

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Originally Posted by trader_d View Post
I don't take any trade today. euro is still at resistance level of 1.4240. Before taking any long trades I'll prefer to see a break of this level.

Happy trading
Monday's candle was a doji. Therefore, no trade for Tuesday also.

Trade well
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Old Apr 7, 2011, 2:49am   #213
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Re: Currency trading on D1 time frame

trader_d started this thread euro breaks 1.4240 resistance so I go long.

new orders:

(T04071) buy eurusd at 1.4311, s/l: 1.4190, t/p: 0.0000 (0.5% risk)
(T04072) buy limit eurusd at 1.4270, s/l: 1.4190, t/p: 1.4430 (0.5% risk)

Trade well
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Old Apr 8, 2011, 4:19am   #214
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Re: Currency trading on D1 time frame

trader_d started this thread
Quote:
Originally Posted by trader_d View Post
euro breaks 1.4240 resistance so I go long.

new orders:

(T04071) buy eurusd at 1.4311, s/l: 1.4190, t/p: 0.0000 (0.5% risk)
(T04072) buy limit eurusd at 1.4270, s/l: 1.4190, t/p: 1.4430 (0.5% risk)

Trade well
Both orders are active, stop moved to 1.4232

Trade well
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Old Apr 8, 2011, 7:54am   #215
Joined Feb 2011
Re: Currency trading on D1 time frame

Quote:
Originally Posted by trader_d View Post
Both orders are active, stop moved to 1.4232

Trade well
A good trade. The euro is now at 1.4401. You are 131 pips and 90 pips in the positive for the respective trades. And it looks like there is further momentum to the upside. Good luck.
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Old Apr 8, 2011, 9:58pm   #216
Joined Aug 2010
Re: Currency trading on D1 time frame

trader_d started this thread
Quote:
Originally Posted by trader_d View Post
euro breaks 1.4240 resistance so I go long.

new orders:

(T04071) buy eurusd at 1.4311, s/l: 1.4190, t/p: 0.0000 (0.5% risk)
(T04072) buy limit eurusd at 1.4270, s/l: 1.4190, t/p: 1.4430 (0.5% risk)

Trade well
All positions closed, status as below:

(T04071) buy eurusd at 1.4311, s/l: 1.4190, t/p: 0.0000 (0.5% risk)
closed at 1.4474.

(T04072) buy limit eurusd at 1.4270, s/l: 1.4190, t/p: 1.4430 (0.5% risk)
t/p hit at 1.4430.

Have a nice weekend
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Old Apr 8, 2011, 10:01pm   #217
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Re: Currency trading on D1 time frame

trader_d started this thread
Quote:
Originally Posted by marbig View Post
A good trade. The euro is now at 1.4401. You are 131 pips and 90 pips in the positive for the respective trades. And it looks like there is further momentum to the upside. Good luck.
Thanks
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Old Apr 10, 2011, 4:15pm   #218
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Re: Currency trading on D1 time frame

trader_d started this thread attached PDF shows summary of all trades taken in 2011 up to now.

overall profit for 2011 YTD is -0.21%, so I'm roughly break-even.
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File Type: pdf 10-Apr-2011.pdf (62.7 KB, 242 views)

Last edited by trader_d; Apr 10, 2011 at 4:23pm. Reason: Correction
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Old Apr 11, 2011, 2:40pm   #219
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Re: Currency trading on D1 time frame

trader_d started this thread This morning I posted a trade here, but it seems that I forgot to hit "submit reply" after preview. Anyway I placed a buy limit (not activated yet) which I include in next post.
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Old Apr 11, 2011, 2:43pm   #220
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Re: Currency trading on D1 time frame

trader_d started this thread Friday candle closed outside Bollinger Band (20), therefore I'll go long with a buy limit order.

(T04111) buy limit eurusd at 1.4391, s/l: 1.4280, t/p: 1.4613 (0.5% risk)

Trade well
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Old Apr 13, 2011, 12:43am   #221
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Re: Currency trading on D1 time frame

Quote:
Originally Posted by trader_d View Post
Friday candle closed outside Bollinger Band (20), therefore I'll go long with a buy limit order.

(T04111) buy limit eurusd at 1.4391, s/l: 1.4280, t/p: 1.4613 (0.5% risk)

Trade well
You are in at 1.4391. Since then the low has been 1.4377 and the high has been 1.4519. It looks like a good entry and the momentum is moving your way. Good luck with the trade.
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Old Apr 13, 2011, 1:17am   #222
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Re: Currency trading on D1 time frame

trader_d started this thread
Quote:
Originally Posted by traderman1 View Post
You are in at 1.4391. Since then the low has been 1.4377 and the high has been 1.4519. It looks like a good entry and the momentum is moving your way. Good luck with the trade.
Thanks
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Old Apr 13, 2011, 1:19am   #223
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Re: Currency trading on D1 time frame

trader_d started this thread
Quote:
Originally Posted by trader_d View Post
Friday candle closed outside Bollinger Band (20), therefore I'll go long with a buy limit order.

(T04111) buy limit eurusd at 1.4391, s/l: 1.4280, t/p: 1.4613 (0.5% risk)

Trade well
Order is activated. s/l moved to 1.4340.

Trade well
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Old Apr 15, 2011, 9:51pm   #224
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Re: Currency trading on D1 time frame

trader_d started this thread
Quote:
Originally Posted by trader_d View Post
Friday candle closed outside Bollinger Band (20), therefore I'll go long with a buy limit order.

(T04111) buy limit eurusd at 1.4391, s/l: 1.4280, t/p: 1.4613 (0.5% risk)

Trade well
Position closed at 1.4429. What a boring week for euro

Have a nice weekend.
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Old Apr 18, 2011, 2:52am   #225
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Re: Currency trading on D1 time frame

trader_d started this thread Last week euro failed to break 1.4500 round number.Now It seems it is is going for a retracement. No trade for today.
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