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This is a discussion on TDs Journal within the Trading Journals forums, part of the Reception category; Yesterday marked the end of my second week trading this account and it was marked by another £70 credit referral ...

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Old Sep 17, 2008, 9:20am   #50
 
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trader_dante started this thread Yesterday marked the end of my second week trading this account and it was marked by another £70 credit referral This bonus money can't actually be withdrawn from the account for three months, not that it matters because more money means more margin...

So, the record so far is 14 trades:

8 Wins
1 Loss
5 Scratches

...and 2 referral bonuses.


The intial £40.60 is now at £1,168.90.

The first target of £1,000 was hit. My second target is £2,000.

I'm going to aim to hit that by the 7th October (Five weeks from my first trade)
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Old Sep 17, 2008, 10:29am   #51
 
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trader_dante started this thread I went long on Crude last night (point 1) entering at £1 per tick minutes before the US rate announcement. Not the best timing as I went immediately offside and almost got stopped as the Dollar gained strength. However, the market came back strongly and as the position moved well into profit I held it as an overnight.

Once the market broke through my first resistance I moved my stop to a little way beneath it and was stopped out for a profit of £183 at point 2.
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Old Sep 17, 2008, 12:06pm   #52
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Hi Tom,
Great trading - as ever.
In line with the recent flurry of members changing their username, I think you should change yours. Some suggestions in case you want to consider the idea . . .
1. Midas Touch
2. Mr. Midas
3. trader_midas

Tim.
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Old Sep 18, 2008, 1:24pm   #53
 
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trader_dante started this thread This is one of my favourite setups although I made nothing out of this particular one.

Price falls strongly into a solid support (fifth test in this case). The market then bounces but stalls part way up the previous bar and then falls back again.

I took this at £2 per point on the breakout at point 1 with a target at point 2. This went almost immediately onside but I was a little too hasty to move my stop to breakeven (after being 23 pips up) and got caught on the retracement.

The target was hit two hours later.

Such is the case from time
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Last edited by trader_dante; Sep 18, 2008 at 2:43pm.
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Old Sep 18, 2008, 1:57pm   #54
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Quote:
Originally Posted by trader_dante View Post
This is one of my favourite and most reliable setups although I made nothing out of this.

Price falls strongly into a solid support (fifth test in this case). The market then bounces but stalls part way up the previous bar and then falls back again.

I took this at £2 per point on the breakout at point 1 with a target at point 2. This went almost immediately onside but I was a little too hasty to move my stop to breakeven (after being 23 pips up) and got caught on the retracement.

The target was hit two hours later.

Such is the case from time
TD,

When you played this breakout ($/yen) where did you put your initial stop? And is it the same concept with all breakouts you play?

I'm asking because before i found your initial thread i had been trading breakout/triangle/flags etc but struggling to identify a good place to put stops. Somewhere where your decision to trade is wrong (like in the case of pins bars the break below the pin).

Thanks in advance,

Glen
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Old Sep 18, 2008, 2:07pm   #55
 
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trader_dante started this thread
Quote:
Originally Posted by Glenborrell View Post
TD,

When you played this breakout ($/yen) where did you put your initial stop? And is it the same concept with all breakouts you play?

I'm asking because before i found your initial thread i had been trading breakout/triangle/flags etc but struggling to identify a good place to put stops. Somewhere where your decision to trade is wrong (like in the case of pins bars the break below the pin).

Thanks in advance,

Glen

Hi Glen, I usually put my stop just above the high of the bar that triggers the entry into the breakout. In this example entry was at 105.17 with a corresponding stop at 105.47.
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Old Sep 18, 2008, 2:34pm   #56
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I see you have a new mantra trader_dante......... is time not time, and money not money anymore?
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