Posts Tagged Trading
Another very satisfactory week for the DDFX trading system. However, I am aware that I may not be always consistent on my entries and/or exits. I think some of this comes from gut feeling after watching the markets for many years.
Anyway, here are my thoughts and analysis as I traded the GBPUSD (cable) using the DDFX Forex system using the 1 hour charts.
My first trade was when the price action broke the low of the first red candle. I was aware that there was only one arrow even though t
August 11, 2011
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With the stock markets looking weak, Oil is said to follow. I had entered a short on a previous day low and also under the round number at 9100. My order was 9090 and it got hit. However, soon after this the market went up and it wasn't even certain as to whether this trade would go the right way. With breakout trades, I should have perhaps saw that this wasn't going anywhere and closed out before my stop was hit. However, the market moved 20 points above my stop before it did stop and reversed
August 4, 2011
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The below is the daily chart of the DOW and that it had made a double top formation a few days back. Following this, the market started going lower and yesterday I was looking for a break at the previous low as indicated. This happened and I had a short at 12460
The market fell and was looking to fall soon but after a major break, I was expected a retracement to happen far later than it did and I ended closing on the retracement for 40 points only for the market to fall further in the US
July 28, 2011
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