Damions Tribute
Page 1 of 509 123 ... LastLast
Results 1 to 10 of 81

Thread: Damions Tribute

  1. #1
    The objective of this thread is to maintain a journal of my trade thoughts and for those who are interested in my trading to discuss and learn.

    My interest began over a year ago, spent a couple of months dwelving to all aspects of technical analysis, read numerous trading books, attempted a couple of systems onforexintuitiveforums using a demo account and blew one live account. I've been trading'live' for nearly 11 mths now. While I am not making a living from Currency Market trading (I trade miniature lots), I have been consistently profitable. This was only possible because I stumbled across a really good thread ff, also was lucky to learn from a great trader, damion.

    The trading technique is simple. There will be no indiors, though I do observe the stoch/macd at times for divergence. The technical tools and techniques I use include trendlines and classic TA patterns. I trade mostly the majors on all timeframes.

    Within the upcoming few articles I hope to discuss a few of my open trades. I don't trade very often, alot of my conclusions depend on chance and market conditions. There are instances once I don't trade at all for weeks.

  2. #2
    Quote Originally Posted by ;
    Hi Guys,
    great analysis done here.

    Anyone shorting the GU? We've got a tweezer here for affirmation Short.

    Good luck everybody.
    The tweezer top didn't perform as the affirmation candle was not formed.It proved to be a safe call to await the CF to verify that our entry.I didn't entered the commerce and stay out.

    No trade is a trade.

  3. #3
    Trades with interest. There are still a few more that I have been holding onto for a couple of weeks, eg. is GBPCHF. Brief position.


  4. #4
    Hi Soyabean,

    I Adored the DRA system Also.

    Thought I would join you by discussing.

    I've only just started with a couple pairs. I would like to share a few probable set ups not yet been traded.

    I've demoed these transactions and intend to exchange them on a small account with micro lots. Based on my results I will consider trading on a larger account .

    In the meantime, I've a lot to learn.

    Thank you Soyabean.

  5. #5
    Hi,

    Some other transactions I'm also considering are:

    1. EUR/USD to go extended - to the confirmation candle if R/R let

    2. AUD/USD - will wait to see how price responds - my expectations are:
    a. It could break the current trendline - then I might trade it to the retest - SHORT.
    B. would split the uptrendline and then would go LONG on the test of this trendline.
    c. In case a confirmation candle and R/R are go - if it gives a signal on the current trendline - however, I'm thinking of letting that trade go.

    3. EUR/GBP - this could be a wonderful long or a short trade if R/R given after the confirmation candle are great enough.

    Please excuse the dates - these are Australian dates.


  6. #6
    Hey

    Sorry I havent got the chance to get a fantastic look in ur charts, I have been away.

    I have reenteered AUDNZD trade.

  7. #7
    Soyabean,

    Can you please have a look at my chart and tell me whether that is the way you project your stop loss and profit goals.

    I have exercised the chart for the 1st trade.

    Thanks.

  8. #8
    Quote Originally Posted by ;
    Soyabean,

    Would you please have a look at my chart and tell me if this is the way you project your stop loss and profit goals.

    I've exercised the chart for your 1st trade.

    Thanks.
    Hey aftab,

    Really wonderful comprehension of our trading system, entry of the bearish engulfing using the rear of the uptrendline as resistance. I would have taken the trade with the exact same TP because you did and also a marginally wider SL at the prior high.

    There are different methods to select ur TP, however, as long as it's more than 1:1.5 RR and that you have taken another support level under account.

    Overall, great understanding.

  9. #9
    Quote Originally Posted by ;
    Hey,

    Very nice understanding of our trading system, entrance of this bearish engulfing using the rear of this uptrendline as resistance. I would have taken the trade with the exact same TP because you did and a slightly wider SL in the prior high.

    There are other methods to select ur TP, however, so long as it is more than 1:1.5 RR and which you've taken the next support level under account.

    Overall, great understanding.
    Hi Soya,

    Will bear in mind:

    1. Past high when setting the SL; and
    2. The following support level when determining profit target the fib extensions.

    Are you looking at anything else this week?

  10. #10
    Quote Originally Posted by ;
    Hi Soya,

    Will Bear in mind:

    1. Past high when setting the SL; and
    2. The following support level when deciding profit goal the fib extensions.

    Are you looking at anything else this week?
    Simply to clarify, I do not always place my SL in the prior High, I enjoy my SL to be guarded in a resistance level. Clearly for the AUDNZD commerce the resistance level was in the prior high.

    I've a couple other pairs that I am watching out for, will post my charts when I get home from work this evening. These are mainly that the Aussie, Kiwi and Loonie pairs... I believe we've seen some unprecedented profits in those currencies as global economic outlook brightens and investors are pulling their money out of the US. Commodities need also drive these currencies. I am looking at some crucial fib retracement areas and trendline confluences. Generally, the market is roaring and prepared for a few trading opportunities. Charts to follow.

    Regards

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •  
This website uses cookies
We use cookies to store session information to facilitate remembering your login information, to allow you to save website preferences, to personalise content and ads, to provide social media features and to analyse our traffic. We also share information about your use of our site with our social media, advertising and analytics partners more information