dwaddell's Blog

[dwaddell]

Morning Update

3rd November 2006

Hi all,

Update on this mornings trading session, another quite hard going morning with 5 trades resulting in -10, -10, -20, +30, +30, the initial loss recovered once things really got moving.

I didnt trade the 0930 announcement, didnt think it'd be worth it, but it would have given preMover a boost and dayTrader a few pips, but as I say, I didnt trade it today.

So, +20 for the day so far. Big news ahead with the NFP and ISM numbers this afternoon which I'm looking forward to trading. This will be the first application of the preMover method to the NFP numbers, hopefuly that'll bring home some bacon today.

Cheers for now,

Dave

'Inner peace, it works for me.'

 

[dwaddell]

NFP Trade

3rd November 2006

A good dayTrader trade for +30 off the NFP from 1335-1338.

However, the preMover method indicated a long, which I had a stop in at 1.9080, which with slippage actually executed at 1.9060, so a loss of 30 pips on the preMover today.

dayTrader method +50 today
preMover method, -30 today,. +28 for the week.

ISM at 1500 for more action, unless I get a turn north prior to that announcment, in which case I'll take the trade.

Dave

'Inner peace, it works for me.'

 

[dwaddell]

Upturn Taken

3rd November 2006

Took the upturn at 1.9001 at 1430 and exited at 1.9006 for +10 pips prior to the 1500 ISM announcement.

Dave

'Inner peace, it works for me.'

 

[dwaddell]

preMover Fails Again

3rd November 2006

Ah well, preMover again indicated a long, which failed to materialize but my stop did hold for a -8 pips. preMover closes the week at +20 pips.

Dave

 

[dwaddell]

Reversal Hits Worst Case Stop

3rd Novermber 2006

Took a short off the 1500 news only for it to reverse and take out my worst case 20 pip stop, resulting in a 40 pip loss.

Thats been a tough few past days with larger losses than usual, but pulling back always to around breakeven. Thats fine, its the hard times when you must stick most rigourously to you your method, the statistics say that there will be good times and bad, so there's no point worrying about it.

I'm going to call it a day at that, there's a couple of speeches left for the day, but I'm not all that bothered - I've made my money this week and its time to wind down for the weekend.

This week, dayTrader has produced a profit of +250 pips which is great by any standards and keeps the wolves from the door and my wife in shoes.

The preMover method ended up netting 20 pips - not really worth the effort? I dont know, if you even get a few right each month, it'll be worth it, so I'll continue to trade it and see how it fares over time.

Have a good weekend, look forward to a new weeks trading next week.

TTFN

Dave

'Inner peace, it works for me.'

 

[dwaddell]

Another Week In The Saddle

6th November 2006

Morning all, hope you had a good weekend.

Back into it this morning with a nice 30 pips net from the morning session and the 0930 announcement, 3 trades for -10, +30, +10.

The preMover indicated a short for 0930 taking +15 pips.

Not really much left on for today, a couple of speeches later which are'nt really my cup of tea, so I'll call it a day at that and get the loft floored, which 'she who must be obeyed' has been 'requesting' for a number of weeks now.

Dave

'Inner peace, it works for me.'

 

[dwaddell]

Choppy Out There

7th November 2006

Its a rough sea out there this morning, right choppy, down 60 pips at one stage before catching the move north after 9am for +30, all in all, -30 for the session, which isnt nice, but losses are losses and part of the business we are in.

Distinct lack of news around today and tommorow and the US elections today, so I'll accept the loss and lay low today and finish flooring that damn loft.

Dave

'Inner peace, it works for me.'

 

[dwaddell]

A Better Start To The Day

8th November 2006

A nice start to the day and the only trading I'll be doing today given the distinct lack of news around.

Three trades in the morning session for +30, 0, +30.

60 pips for the day.

Dave

'Inner peace, it works for me.'

 

[dwaddell]

A Busy Day

9th November 2006

Great, a day for some action today, been a bit quiet this week so far, but the morning session went well for a straight 30pips with my usual 2 contract approach.

The 0930 news was muted, but still good for a 10 pip pop to the downside.

Running total for the day +40 pips.

The noon rate news and a slew of data from the US from 1330 should provide some great opportunities today for both my dayTrader method and the preMover method.

Cheers for now,

Dave.

'Inner peace, it works for me.'

 

[dwaddell]

Takin Care of Business

9th November 2006

1200 news release played out like a dream, the way it should happen. preMover indicated a short, in at 1.9070 and out on the retracement to the 23.6 fib line for +40pips.

The dayTrader trade took +30 pips from the post news move on 2 contracts as usual.

dayTrader for the day +70, preMover +40.

Awaitng the 1330 news now.

A note about a comment posted on my journal as to there being no 'worth' in what i post here - fair enough, if you aint interested, dont read.

I trade my method then post my plays here as a way of recording my activity and giving a historical record of my actions, if folk are interested then fine, if not, as I say, dont read it.

I dont have time to trade and write, and I have no inclination to prove myself to anyone, its taken me many years and a lot of cash, I mean a lot of cash, to get to the stage I'm at now, and if you read my journal in full, you'll see where I tried to get things going before and failed.

It works for me now, not because I have some fantastic trading approach, but because in my head I have the discipline to trade what I know and not change it when things get tough. My tagline is 'Inner peace, it works for me.' and it does, I'm focussed, happy, have a passion for trading and am disciplined to trade my method and forget all the other sh*t thats going on around me.

If you dont beleive it, fine, but I post here just to give anyone whos interested an idea that it can be done.

Dave

'Inner peace, it works for me.'

 

[dwaddell]

1330 Great Action

9th November 2006

OK, to try and please, here's an update 10 mins after the 1330 announcment.

preMover again indicated short, so entry at 1.9028 at 1329 exit for that move at the 161.8% fib level at 1.8992 for +36 pips.

dayTrader entered at 1335 @ 1.9022, 2 lots, exit one lot at 9012 and the second at 9002 for +30 pips.

dayTrader daily running total: +100 pips
preMover daily running total: +75 pips.

Like I said, a day where it all goes as planned, just like last Tuesday 31st/10 when I made a record 140pips for the day.

Still some news left today, though not all that interesting, still, we'll see what pans out.

Dave

'Inner peace, it works for me.'

 

[dwaddell]

Done For The Day

9th November 2006

Ok, done for the day with a +10 off the dayTrader method on the 1500 news and the preMover hit it sweet again indicating a long exiting at the hesitation @ 1.9025 from a 1.9005 entry for +20 pips.

An excellent day today, doesnt come any better 100% performance from dayTrader and preMover for a dayTrader daily of +110 and a preMover daily of +95.

Dave

'Inner peace, it works for me.'

 

[wasp]

Well I am impressed Dave, hardly leave a pip spare! Good going...

What are the pre mover and daytrader? Are they something you've devised yourself?

Good trading

 

[dwaddell]

Yes, preMover and dayTrader are the two methods I use for my trading, preMover is designed to indicate a direction prior to a news announcement for entry 1-2 minutes prior to the announcement. dayTrader is designed for any period of reasonable volatility. Both devised by me, not complex, very simple, but its my frame of mind that makes the whole approach successful.

Dave

Well I am impressed Dave, hardly leave a pip spare! Good going...

What are the pre mover and daytrader? Are they something you've devised yourself?

Good trading

 

[dwaddell]

A Good End To The Week

10th November 2006

A good session this morning for -10, 20, 20, 30, totalling +60pips.

Some speeches again later today, but not really my cup of tea, so I'm calling it a day at that and spending the day doing some work for one of my IT customers whom I still have contractual obligations to.

Have a good weekend, see you all next week.

Dave

'Inner peace, it works for me.'

 

[dwaddell]

Another Week In The Hotseat

13th November 2006

Hi all, start of another week, morning session this morning gor off to a poorish start, 4 trades for -5, -10, +20, -10 giving a -5 so far for the day.

Only really the 0930 GBP news today, so will trade that with dayTrader and call it a day.

Dave

'Inner peace, it works for me.'

 

[dwaddell]

Done For The Day

13th November 2006

Thats it, +30 off the 0930 news for a daily total of +25 pips.

Done for the day, nothing more worth staying around for.

Cheers,

Dave.

'Inner peace, it works for me.'

 

[dwaddell]

Good Start To A Busy Day

14th November 2006

Hi all. Good start to the day today with a +30 then a +10 off the turnto the long side on cable. News at 0930 and 1330 today which should provide some movement.

Dave

'Inner peace, it works for me.'

 

[dwaddell]

Too Much Action

14th November 2006

That 0930 news announcement resulted in a breakeven for dayTrader, there was just too much movement in the first 5 minutes, resulting in the post news movement being quite muted.

1330 is the next timeframe.

Dave

'Inner peace, it works for me.'

 

[dwaddell]

Another Good Trade

14th November 2006

A good setup off the back of the 1330 news announcement for a +30.

Out of the market, awaiting a possible reversal before 1430, if it comes, I'll get involved, otherwise, I'm done for the day on +70 pips.

Dave

'Inner peace, it works for me.'