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; I'll be posting my forex trades on daily time frame (D1) in this journal. I have a full time job ...

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Old Aug 31, 2010, 10:19pm   #1
Joined Aug 2010
Currency trading on D1 time frame

I'll be posting my forex trades on daily time frame (D1) in this journal.

I have a full time job and usually have difficulty trading lower time frames. Recently I started trading H4 time frame using a mobile phone when I'm at work. However, D1 time frame is still my primary choice. My method is purely technical analysis and I (try to) follow trend. I try to catch reversals and add to my position at retracements.

My favorite pair for this method is eur/usd, but depending on market conditions I may trade other pairs such as gbp/usd, aud/usd or usd/jpy.

I hope this journal improves my trading.
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Old Aug 31, 2010, 11:29pm   #2
 
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Re: Currency trading on D1 time frame

Good luck

I'm guessing you are not Trader_Dante in disguise.

Will watch with interest
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Old Aug 31, 2010, 11:39pm   #3
Joined Jan 2009
Re: Currency trading on D1 time frame

Quote:
trader_d;1238500using a mobile phone when I'm at work. However, D1 time frame is still my primary choice. My method is purely technical analysis and I (try to) follow trend. I try to catch reversals and add to my position at retracements.

Good luck as your gonna need it trading off a mobile. I use a mobile app only to monitor or close trades but never to open trades.
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Old Sep 1, 2010, 7:47am   #4
Joined Aug 2010
Re: Currency trading on D1 time frame

trader_d started this thread
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Originally Posted by bangkoker View Post
Good luck

I'm guessing you are not Trader_Dante in disguise.

Will watch with interest
No. I'm not him. But I wish I was a professional trader like him.

Thanks for your interest.
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Old Sep 1, 2010, 7:53am   #5
Joined Aug 2010
Re: Currency trading on D1 time frame

trader_d started this thread
Quote:
Originally Posted by JDTRADER View Post
Good luck as your gonna need it trading off a mobile. I use a mobile app only to monitor or close trades but never to open trades.
I'm not gonna use my mobile device for this method. I open/close trades only around 5 pm NY time. This method is suitable for people having full time job who can't watch the market intraday.
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Old Sep 1, 2010, 8:20am   #6
Joined Aug 2010
Re: Currency trading on D1 time frame

trader_d started this thread I'm short on eur/usd at 1.2879 from 12-Aug-2010.
I won't consider this trade in my profit/loss calculations in this journal, because I opened it before starting this thread.
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Old Sep 2, 2010, 9:20am   #7
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Re: Currency trading on D1 time frame

trader_d started this thread I closed my short position and now I'm long at 1.2802 with s/l at 1.2650 with 1% risk.
Things on on daily time frame move very slowly. This will be a very boring journal.
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Last edited by trader_d; Sep 2, 2010 at 9:45am. Reason: correction - risk % added
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Old Sep 2, 2010, 9:29am   #8
Joined Jan 2009
Re: Currency trading on D1 time frame

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Originally Posted by trader_d View Post
I closed my short position and now I'm long at 1.2802 with s/l at 1.2650 with 1% risk.
Trading on daily time frame is very slow. This will be a very boring journal.
Lets see who is right ?

I'm short target 1.2665
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Old Sep 2, 2010, 9:43am   #9
 
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Re: Currency trading on D1 time frame

YOu might both be right, bearing in mind that his stop is below your target.
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Old Sep 2, 2010, 10:07am   #10
D70
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Re: Currency trading on D1 time frame

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Originally Posted by trader_d View Post
No. I'm not him. But I wish I was a professional trader like him.

Thanks for your interest.
He isnt a professional trader.
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