Thanks Strat, A must to read for everybody!!

explains the origin of the spread as well, I still don't see the 280 pip as normal because you should close all your positions several times a day to avoid to get stopped out!



A+ Hans...

Hey Hansnl,

I went through a tough patch recently as well.
Here're a couple of things which helped me recover
1) trading a smaller position size, like 50% or 25% of your normal position size.
2) sitting down and telling myself that i will focus only on taking good setups today, pips will follow. this means proper analysis, waiting for triggers, reasonable stoplosses and profit taking stops.

every morning i also read a list i prepared myself.
it contains nuggets of information i picked up along the way.
entry requirements, "tips" and "don'ts"
eg, did price break any significant levels of supports or resistance?
tips like, don't get too attached to your trades, recognise reversal signs and react accordingly.
don'ts like, if i can't immediately identify a reasonable stoploss level, don't take the trade or if i'm in, get out immediately.

i hope u break your streak soon man =)

__________________
"You can be free. You can live and work anywhere in the world. You can be independant from routine and not answer to anybody.
This is the life of a successful trader."
- Alexander Elder

My Forex Trading Journal

In pharmacology, all drugs have two names, a trade name and generic name. Example, the trade name is Tylenol and it's generic name is Acetaminophen. Aleve is also called Naproxen. Amoxil is also called Amoxicillin and Advil is also called Ibuprofen.

The FDA has been looking for a generic name for Viagra. After careful consideration by a team of government experts, it recently announced that it has settled on the generic name of Mycoxafloppin. Also considered were Mycoxafailin, Mydixadrupin, Mydixarizin, Dixafix, and of course, Ibepokin.

Pfizer Corp. announced today that Viagra will soon be available in liquid form, and will be marketed by Pepsi Cola as a power beverage suitable for use as a mixer. It will now be possible for a man to literally pour himself a stiff one. Obviously we can no longer call this a soft drink, and it gives new meaning to the names of 'cocktails', 'highballs' and just a good old-fashioned 'stiff drink'. Pepsi will market the new concoction by the name of: MOUNT & DO.

Thought for the day: There is more money being spent on breast implants and Viagra today than on Alzheimer's research. This means that by 2040, there should be a large elderly population with perky boobs and huge erections and absolutely no recollection of what to do with them.

Strato,

Great sense of humour. Having once been in the world of drugs, this really made me chuckle. Thanks for sharing.

Ibepokin Rockie

Ooh Hello Rockie and Strat

Rock, you are a legend over on Dan's threads (apparently) - (for your norti posts I mean), and now I see you have corrupted Strat, or is it the other way round?

I didn't know you used to be a drug baron Rockie, the things you find out about people hey! Cuh.

And... the things you get up to when there are no ladies around to sort you out. Tut tut.

Hope you are all well.

RS

Well -life would be soooooo boring without a little mischief. I myself think that Strato is the corruptor and I am just in the wrong place at the wrong time!!

Bent One Rockie

LOL, I laughed too. Thanks guys.

Did not have a stellar day on Friday but I am looking forward to Monday again.

Nicola

PS Rock - you are a legend

First of all, I have to admit I am the corruptor - I have corrupted more people than I can remember - but they are still laughing! You need a good balance in life and I know of no better way than having a laugh.

Now for the serious bits!

The strategy gave a good Daily signal on Friday to go short USDCAD when price closed below the 20 ema. A conservative entry would have been a couple of pips below Friday's low. The first target is the Weekly 20 ema and a second, if it gets there, is around 1.1770 at the previous triple bottom.

Using other strategies, I am long the following:

AUDUSD from 0.6510
CHFJPY from 76.86
EURJPY from 115.57
EURUSD from 1.2953
GBPJPY from 122.10
GBPUSD from 1.3680

These are all counter trend trades (until they close above their respective 20 emas) with initial TPs at the 20 ema.

Short the following:

USDCAD from 1.2320
USDCHF from 1.1565

Again, these are counter trend trades with the 20 ema looming below ready to support or ?

Again, this is not to brag, but just to show the possibilities of trading the Daily and to show that the strategy works on the Daily as it does on all other time frames

Rock on,
Strat

Wow, nice trades Strat, you are a lucky one ! May I ask what you mean by "using other strats" ? Are you referring to Jacko's method ?

Thanks.
Larry

Hello Larry,

Thanks for the compliment but they are not "nice" until pips are in the tin or at least until I get the SL to break-even. Also, it's not "lucky", it's just "trading the plan".

Out of much respect for Dan & Zak, I am not prepared to discuss other strategies on this Forum. In reality, you don't need other strategies as their strategy works very well on the Daily PROVIDING you have the PATIENCE to wait for the set ups.

No, it's definitely NOT Jacko's strategy or any others - it's something I put together after the "light went on" after using their strategy with my previous Daily trading experience.

Sorry for being vague and hope I'm not offensive

Rock on,
Strat