Currency trading on D1 time frame

trader_d

Established member
516 11
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.
 

bangkoker

Well-known member
314 17
Good luck :clover:

I'm guessing you are not Trader_Dante in disguise.:rolleyes:

Will watch with interest
 

JDTRADER

Experienced member
1,462 24
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.
 

trader_d

Established member
516 11
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.
 

trader_d

Established member
516 11
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.
 

trader_d

Established member
516 11
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. :sleep:
 

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JDTRADER

Experienced member
1,462 24
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. :sleep:
Lets see who is right ?

I'm short target 1.2665
 

trader_d

Established member
516 11
Thursday euro traded in a very narrow range. I won't close the position during NFP.
I also set a sell stop order at 1.2650 s/l: 1.2786
 

JDTRADER

Experienced member
1,462 24
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. :sleep:
A good move and good trading, well done :clap:
 

tomorton

Legendary member
7,262 970
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.


Good luck trader, I have an ambition to add forex at some point to my index trading and I too have a 'real' job that keeps me away from the screen for long periods.

One word of caution on trend-following. This is old, well-established respected advice - but it dates from an era when investors were just that, rather than traders, when they could only go long and only on real shares, there being no spreadbetting or CFD's available. Check your system for positions taken with-trend and counter-trend. Two systems that I use and have back-tested on indices are only just a bit better than break-even when counter-trend entry signals are ignored: but they pay very well if these are included. Severely back-test your systems before you exclude counter-trend positions, they could be your biggest earners as long as you have a strict and sensible stop-loss.
 

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