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 trader_d Hi Sandy, Stops are usually 10 pips above/below High/Low of previous day candle. Cheers Thanks Trader_d. ...

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Old Nov 30, 2010, 10:17pm   #99
Joined Jan 2008
Re: Currency trading on D1 time frame

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Originally Posted by trader_d View Post
Hi Sandy,

Stops are usually 10 pips above/below High/Low of previous day candle.

Cheers
Thanks Trader_d. Nice and simple

Sandy
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Old Nov 30, 2010, 10:37pm   #100
Joined Nov 2008
Re: Currency trading on D1 time frame

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Originally Posted by Black Swan View Post
Outstanding. Much respect...
Sorry I meant to add, 0.9% reward for 380+ pips profit, you happy with that?
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Old Dec 1, 2010, 1:31am   #101
Joined Aug 2010
Re: Currency trading on D1 time frame

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Sorry I meant to add, 0.9% reward for 380+ pips profit, you happy with that?
I remember that trade had 0.5% risk, i.e. around 1.8:1 reward:risk ratio. One could take 2% risk and gain 3.6% reward.
I exactly understand your point. I'm not very concerned about that. I'm still testing the method. My trades are real trades (not demo account), however sometimes I feel I'm too cautious to take trades with 0.5% risk. Hopefully when I'm more confident with the method I'll be a bit more aggressive. BTW I'll be happy to gain 4% monthly with this method.

Thanks for your remark.
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Old Dec 1, 2010, 1:45am   #102
Joined Aug 2010
Re: Currency trading on D1 time frame

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Hi,

s/l for T11291 sell eurusd at 1.3212 moved to 1.3310

Two new orders placed:

(T11301) sell eurusd at 1.3118, s/l: 1.3310 (0.5% risk)
(T11302) sell limit eurusd at 1.3166, s/l: 1.3310 (0.5% risk)
Hi,
(T11302) sell limit not activated and deleted.

s/l moved to 1.3160 for following trades

(T11291) sell eurusd at 1.3212
(T11301) sell eurusd at 1.3118

Two new orders placed:

(T12011) sell eurusd at 1.2985, s/l: 1.3160 (0.5% risk)
(T12012) sell limit eurusd at 1.3048, s/l: 1.3160 (0.5% risk)
Attached Thumbnails
eurusd24.gif  
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Old Dec 1, 2010, 8:23am   #103
Joined Nov 2008
Re: Currency trading on D1 time frame

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Originally Posted by trader_d View Post
I remember that trade had 0.5% risk, i.e. around 1.8:1 reward:risk ratio. One could take 2% risk and gain 3.6% reward.
I exactly understand your point. I'm not very concerned about that. I'm still testing the method. My trades are real trades (not demo account), however sometimes I feel I'm too cautious to take trades with 0.5% risk. Hopefully when I'm more confident with the method I'll be a bit more aggressive. BTW I'll be happy to gain 4% monthly with this method.

Thanks for your remark.
Got ya, so (on average) you're using approx. a 200 pip stop although like me looking for HH or LL of the session or previous session..
Hope you get up to 1% risk, like your style ..
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Old Dec 3, 2010, 8:03am   #104
Joined Aug 2010
Re: Currency trading on D1 time frame

trader_d started this thread
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Originally Posted by Black Swan View Post
you're using approx. a 200 pip stop
actually stop depends on length of previous day candle.
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Old Dec 3, 2010, 8:17am   #105
Joined Aug 2010
Re: Currency trading on D1 time frame

trader_d started this thread
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Originally Posted by trader_d View Post
Hi,
(T11302) sell limit not activated and deleted.

s/l moved to 1.3160 for following trades

(T11291) sell eurusd at 1.3212
(T11301) sell eurusd at 1.3118

Two new orders placed:

(T12011) sell eurusd at 1.2985, s/l: 1.3160 (0.5% risk)
(T12012) sell limit eurusd at 1.3048, s/l: 1.3160 (0.5% risk)
Hi,

all trades stopped on 01-Dec. Overall loss for this week is -0.78%.
I'm not happy with my performance in recent downtrend of eurusd. Actually I compounded a bit aggressively when the market was oversold near key 1.3000 round number.
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