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This is a discussion on TDs Journal within the Trading Journals forums, part of the Reception category; I received a £70 bonus from my SB company after recommending them on - something that I do not because ...

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Old Sep 11, 2008, 3:59pm   #36
 
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trader_dante started this thread I received a £70 bonus from my SB company after recommending them on - something that I do not because I want the money - rather I genuinely think they are good.

At any rate, not long after this came in, almost the same amount came out when I got stopped on a Euro/Jpy trade.

I took the Euro/Jpy long after a brief test of a very weak s/r pivot zone on the weekly. This was a poor setup and something I would never normally have even thought twice about. Still, I did it and it cost me £63 pretty quickly.
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Old Sep 11, 2008, 4:39pm   #37
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TD will you be withdrawing the initial stake of £40 from the account so that none of your aunty's money is at risk?
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Old Sep 11, 2008, 4:52pm   #38
 
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Originally Posted by rags2riches View Post
TD will you be withdrawing the initial stake of £40 from the account so that none of your aunty's money is at risk?
Well, she did give it to me so it's not hers BUT yes I will withdraw that and will also withdraw the £70 bonus too, at some point.
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Old Sep 11, 2008, 5:11pm   #39
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Originally Posted by trader_dante View Post
At any rate, not long after this came in, almost the same amount came out when I got stopped on a Euro/Jpy trade.
Tom,
Let me check I've got this straight; are you actually saying that you've had a losing trade - resulting in money going out of your account, coz I thought it was all one way traffic with you? Well, that's it, it's all over for me now, I want my fan club money back please - plus all those rep points while you're at it.

Tim.
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Old Sep 12, 2008, 11:34am   #40
 
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Quote:
Originally Posted by trader_dante View Post
I received a £70 bonus from my SB company after recommending them on - something that I do not because I want the money - rather I genuinely think they are good.

At any rate, not long after this came in, almost the same amount came out when I got stopped on a Euro/Jpy trade.

I took the Euro/Jpy long after a brief test of a very weak s/r pivot zone on the weekly. This was a poor setup and something I would never normally have even thought twice about. Still, I did it and it cost me £63 pretty quickly.
I'll be opening a new SB account shortly after I've finished testing a strategy for forex, so if you wish you could send me a recommendation and add the bonus in for your charity.

Well done for doing this by the way and good luck with it.

Ken.

Last edited by Tenapenny; Sep 12, 2008 at 11:35am. Reason: Grammer!
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Old Sep 12, 2008, 3:06pm   #41
 
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trader_dante started this thread Yesterday I was looking at a chart of the Bund and decided that I wanted to sell it as it looked to me like it was under distribution.

I sold £2 per point at point 1 on the attached chart which was directly into a rising TL. Contrary to the way most traders operate, I sometimes SELL support.

What happened immediately after is why this is not always the best idea. Price found value and made its way back up to the highs.

There was a huge point of control on the Market Profile at 23's and clear resistance on the charts so I put my stop a short way above this. Although it look obvious and I have drawn it here, I hadn't seen the TL across the tops when I took this.

The market took out the highs but only just and in the process came very close to my stop but didn't hit it. This turns out to have been a false break and then once again it turned and as soon as it did my conviction that this was going to break became ever stronger. When it returned to the TLs, I began to sell again - £1 on a break of the first one (point 2) and another £1 on the break of the second (point 3) to give me a £4 per point net short position.

I held this position as an overnight and when the market moved lower this morning, I closed £2 at the first support level on the hourly. I put the stop on the second half to just above the hourly S/R pivot with the intention of trying to run it down as far as 00s but it was hit when the price bounced at my support.

Total profit on the trade was £99.

Whilst I was in this Bund trade, I also bought £2 per point late last night when the Euro formed a daily pin bar. (see weekly charts for the levels and daily for the pin) I was alerted to this by a post from superspurs on my thread and as a result when I withdraw, half the profit goes to a charity of his choice.

The actual entry coincided with a bounce from an S/R pivot (see point 1 on hourly chart). I had a target of 1.4150 (just ahead of the resistance) but when price stalled not far from it, I decided to exit on a break lower of the inside bar at point 2.

Total profit on the trade was £176.

Account balance is now £978.90
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bund_hourly.jpg   euro_weekly.gif   euro_daily.gif  

euro_hourly.gif   account_summary.jpg  
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Last edited by trader_dante; Sep 12, 2008 at 9:29pm.
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Old Sep 12, 2008, 4:33pm   #42
 
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