Recent Forex Trades

31.8.2017: 5 winners, 0 losers!!! What a day!

What a day today! Really busy and happily all trades ended in a profit. That’s what I call a successful day! Well, every day when you stick to your rules is successful day, so lets call this EXTRA successful day, alright? Lets have look at the trades:

EUR/USD 1.1874 LONG

I took this trade with a limit order because it got hit during asian session when I usually sleep. If I were at the computer I would secure my position very soon after my entry and I would end up with -2 pips but luckily I was in the land of dreams and as you probably know I trade the asian sessions with limit orders without any position management. For that reason this trade was pretty easy for me. When I came to the computer in the morning I just saw pretty strong rejection of lower prices (which is pretty good when you are in a long position). So I just secured my position below the current low of the reaction and took a full +10 pips profit within a few minutes. Good start of the day ๐Ÿ™‚

Here is a screenshot from my platform (1 minute chart):

EUR/USD 1.1889 SHORT

This level was based on the 1st setup (volume cumulation setup) from my Market Profile Webinar. The counter move was pretty rapid and also my short level on AUD/USD got hit at the same time so it was a bit scary. I was trying to find some significant news behind this strong buying activity that went against my levels but I couldn’t find anything so I entered them both with full positions. I had pretty quick +10 pips profit on the EUR/USD short.

AUD/USD 0.7878 LONG

This level got hit before Unemployment Claims news. This news is marked as “red” (significant) at Forex Factory but I am not sure why because this news usually doesn’t have any impact on the USD whatsoever. For that reason I didn’t quit my position before this particular news and held it even during the news release. Quite surprisingly the market started to move rapidly in the time of the release. In my opinion this volatility was caused by Canadian GDP news (released in the same time) and not the Unemployment Claims news. AUD and CAD have sometimes quite high correlation so this is the reason I think this reaction was more likely caused by the CAD news. Anyways, because of this I was able to get a quick +10 pips profit there.

AUD/USD 0.7932 SHORT

This level got hit in the same time as the EUR/USD short from 1.1889. If you look in the chart you can see that this level was more or less the only price reversal during the US session buying activity on the AUD/USD. Another +10 pips profit for me ๐Ÿ™‚

USD/CAD 1.2654 SHORT

This level got “tested” few pips sooner during the asian session when I was asleep. It got properly tested later and I got in the position with a limit order. When I came to the computer in the morning there was a nice rejection of higher prices and for that reason I let the trade run. It ended with full +10 pips profit.

Here is a screenshot from my platform (1 minute timeframe):

USD/CAD 1.2559 LONG

This level got hit around 25 minutes after Canadian GDP m/m release. If you look at the chart you can see that the reaction was really strong and the price was just constantly pushed down. For that reason I decided to be careful and not to enter this trade. Going against strong move which is news driven is always VERY risky. If I took it with a simple limit order it would be a profit. If managed the position I would end up with around -4 pips loss. However, I didn’t take that trade at all.

SUMMARY

Today was a very good day. 5/5 trades were winners so I got +50 pips profit with just intraday trades! Here is a screenshot from my cTrader trading platform with all the trades I took today:

BONUS

I have a little gift for you guys. Here is today’s Daily levels commentary video that I make for members of my Pro Forex Course every day. In this video you can see the reasoning behind each trade I took or that I am going to take. Enjoy ๐Ÿ™‚

PS. If you would like to trade with me every day, you are very welcome to join me here: Daleโ€™s Pro Forex Course

Trading the weekly Point Of Control (POC)

AUD/USD 0.7903 LONG

This long level was based mostly on a weekly POC. Weekly POC means that most volumes of the whole week were placed at this particular price level. I waited for a pullback to this POC and went long from there. You can see that the reaction was pretty sweet.

There was a slight difference between futures and forex data. I made my analysis on futures which had the POC little bit higher than forex. For that reason my level was also a bit higher than the forex data POC you see in the picture.

Here is a screenshot from my platform (1 minute chart). Reaction to weekly POC was pretty precise. I was also happy that the trade was finished quite quickly because there was upcoming Yellen’s speech and I absolutely didn’t want to be in an open position at that time. I took +10 pips profit there.ย  There was pretty strong sell-off after I quit my position. I am glad I wasn’t in that long position anymore when that happened ๐Ÿ™‚

USD/JPY 109.70 SHORT

This trade was based on a volume cumulation area that took place on Wednesday. It was also a pretty strong zone from the price action point of view. There was quite strong counter move against the level but fortunately the selling activity was also pretty strong and the profit was nice and quick one. I took this with a limit order because I was asleep at that time. Nice and easy +10 pips profit ๐Ÿ™‚

Summary

All in all +20 pips profit for me today. Nice end of the week really. I will definitely keep an eye on strong weekly volume areas (like the weekly POC) in the following week ๐Ÿ˜‰

Happy trading!

-Dale

PS. If you would like to trade with me every day, you are very welcome to join me here: Daleโ€™s Pro Forex Course

Sometimes doing nothing is the hardest thing to do

Hello,

did you see the latest episode of Game Of Thrones (S07E06)? I liked it very much. One particular thing that Tyrion said there fit perfectly for my today’s trading. He said “Sometimes doing nothing is the hardest thing to do“. He was so right!

Members of my course already know what I am talking about, right guys? ๐Ÿ™‚

Yes, it is today’s 5 hour trade on the USD/CAD. Here it is:

USD/CAD 1.2599 SHORT

Sometimes I get a question if trades that last longer have lower winning probability than the quick ones. In my experience they don’t. I think that the chances are pretty much the same. For that reason I hold my positions no matter what until my PT or SL is reached.

I know it is hard to stick to an intraday trade for hours, especially for novice traders. Tyrion was right “Sometimes doing nothing is the hardest thing to do“. However, doing nothing definitely paid off today. I held my position for all those long 5 hours and ended up with nice +10 pip profit.

EUR/USD 1.1824 SHORT

Another trade I am pretty proud about. The reason is that this level was 8 days old (pretty old for an intraday level) and there was quite a strong counter move against it. Yes, scary ๐Ÿ™‚

Still, reaction was quick and precise. Another +10 pips profit for me today.

All in all +20 pips profit today. Another good day at the office!

Happy trading guys!

-Dale

PS. If you would like to trade with me every day, you are very welcome to join me here: Daleโ€™s Pro Forex Course

16.8.2017 – Shorts against an uptrend

Here are two trades that I took today. Both on AUD/USD and both against strong trend. Still me and members of my Pro Forex Course managed to get some nice profits there!

AUD/USD 0.7837 SHORT

This level was hit during asian session which I trade using simple limit orders. If I were at the computer I would discard this level because it was already tested an hour before the actual (2nd) test.

However, I was not at the computer – I was sleeping and I woke up into a nice +10 pip profit ๐Ÿ™‚ That’s what I call a good start of the day!

Here is a screenshot from my cTrader platform (1 minute chart):

AUD/USD 0.7888 SHORT

This trade was a bit special. I got into it but when I was around +5.6 pips in an open profit, there was Oil inventories “red news”. Even though this particular news isn’t that significant I chose more conservative approach and quit the position before the news release.

Here is 1 minute chart from my trading platform:

There was absolutely no reaction to the news so I re-entered the trade. I managed to take another +5.1 pips profit, totaling in +10.7 pips profit. Cool!

Here is 1 minute chart from my trading platform:

Here is the whole day on a 30 minute chart along with Market Profile indicator from Trading View (my charting platform):

Summary

Today’s result = +20.7 pips profit

Today was a very good example why I go only for 10 pip profit targets. The reason is – even if I go against a strong daily trend, levels I trade are usually strong enough to make at least 10 pip counter reaction before the trend regains it’s strength and direction again. That’s why I go only for 10 pips.

Happy trading!

-Dale

PS. If you would like to trade with me every day, you are very welcome to join me here: Dale’s Pro Forex Course

 

2.8.2017

Busy day on the USD/JPY today:

USD/JPY 110.52 SHORT

This level got tested 3 pips sooner so if you were at the screen it was advisable to discard it and not to trade it anymore. I took this trade with a simple limit order because I was sleeping and wasn’t able to discard the level. So it was -12 pip loss for me.

USD/JPY 110.82 SHORT

I also took this one with a limit order (still sleeping:)). I took +10 pips profit there.

USD/JPY 110.54 LONG

Unfortunately this level got tested around 2 pips sooner with pretty strong reaction. For that reason I discarded that level and wasn’t interested in trading it anymore. Even if I didn’t discard it I would not trade it because the 2nd test happened during significant “red” macro news on the USD.

AUD/USD 0.7951 LONG

I took this trade with a simple limit order because I was sleeping (asian session). I took a +10 pips profit there.

Summary:

I took 3/3 today’s trades with a limit order because they got hit in the asian session when I slept. When I woke up my today’s trading was basically over ๐Ÿ™‚ Pretty funny ๐Ÿ™‚ My today’s result is +8 pips profit. Maybe you think that +8 pips per dayย  isn’t much – well if you got +8 pips of profit every day you would have over 160 pips monthly and that really is a great result! If you managed that month after month, you would be very rich very soon.

PS. If you would like to trade with me every day, you are very welcome to join me here: DALEโ€™S PRO FOREX COURSE

Happy trading!

-Dale

 

1.8.2017

EUR/USD 1.1813 LONG

This trade was based on setup n.2 from my Market Profile webinar (aggressive initiation setup). My long level was placed at the highest peak of volume cluster you can see on the daily profile on the left side of the picture. I took this trade with a limit order in the beginning of the EU session resulting in nice and easy +10 pips profit.

EUR/USD 1.1790 LONG

This trade was also based on setup n.2. Also exactly at the highest peak of a volume cluster. Even though there was pretty strong counter move I felt quite optimistic about this trade (I really liked this level). Also the strong move wasn’t related to any significant news so I had no problem taking the trade. Reaction was almost as fast as the countermove. I took pretty fast +10 pips profit there.

AUD/USD 0.7982 LONG

Reaction to this level was unfortunately only 8 pips so I wasn’t able to take a full profit and instead took -2 pip loss. I secured my position by moving my SL below reaction as soon as the price moved little bit over +7 pips in my favor.

AUD/USD 0.8001 SHORT

I really liked this level based on my 1st trading setup (the volume cumulation setup). However, the price didn’t quite reach this level and turned sooner. Reaction was really strong so I discarded that level. I won’t be trading it anymore.

USD/JPY 110.54 SHORT

Unfortunately this level got tested 1 pip sooner (1st test). I discarded the level afterwards and I didn’t take the 2nd test. If I did it would be a profit.

Summary

Even though I missed 2 trades (aud and jpy) and took -2 SL at the 1st aud level I managed to take +18 pips profit today which I am pretty happy about. Another good day at the office ๐Ÿ™‚

If you would like to trade with me every day, you are very welcome to join me here: DALE’S PRO FOREX COURSE

Happy trading!

-Dale

 

 

25.7.2017

USD/JPY 111.51 SHORT

Trade based on 2nd setup (aggressive initiation setup) from my webinar. Reaction to a volume cluster was pretty quick and strong. Nice +10 pips profit for me ๐Ÿ™‚

USD/CAD 1.2533 SHORT

Trade based on the Volume cumulation setup. even though the picture looks like a perfect trade it was a miss. The price turned 0.2 pip before the level so I didn’t manage to take it. Even this happens sometimes.

-Dale

PS. If you would like to become a member of my course, you are very welcome to join us here: DALEโ€™S PRO FOREX COURSE

 

24.7.2017

EUR/USD 1.1643 LONG

Trade based on the 1st setup from my webinar. Pretty quick and precise reaction to a strong Point of Control.

+10 pips profit for me.

USD/JPY 111.09 SHORT

Trade based on 3rd setup from my webinar – the strong rejection setup. I managed to catch a correction in a strong upmove. 10 pip profit target was just right there ๐Ÿ™‚

+10 pips profit for me.

AUD/USD 0.7920 LONG

The last trade of the day. Based on weekly Point of Control. Unfortunately I missed my profit target by just 0.2 pip. I quit my position few minutes before the daily close with +2 pip profit.

SUMMARY

+22 pip profit for me today. I am really glad that I have enough trades even in the middle of summer. Also the winning percentage is pretty high in July! This definitely looks like a pretty successful month.

PS. If you would like to become a member of my course, you are very welcome to join us here: DALE’S PRO FOREX COURSE

-Dale

17.7.2017

Hello guys!

Even though it is Monday in the middle of the Summer we are still having lots of trades and also some really nice profits! This is definitely pretty cool!

Here are my today’s trades based on my intraday levels published in my PRO FOREX COURSE

AUD/USD 0.7812 LONG

Pretty nice and quick trade during the asian session. Nice an easy +10 pips profit!

AUD/USD 0.7791 LONG

This one got missed really close. 1 Pip according to my data. After that there was 9 pip reaction. For this reason I discarded this level and I won’t be trading it anymore.

USD/CAD 1.2668 SHORT

Nice and easy +10 pip profit.

USD/CAD 1.2694 SHORT

Again +10 pips profit. Good day on the USD/CAD ๐Ÿ™‚

USD/JPY 112.66 SHORT

There was quite surprising and strong upmove on the usd/jpy today. It was a bank holiday in the Japan today. In cases like this it is easier to manipulate and move the market (less liquidity). I think that this unexpected movement was exactly the case. I took a -12 pip loss there.

SUMMARY

4 trades today: 3 winners, 1 loser.ย  All of them pretty straightforward with no hesitation whether level was tested or wasn’t.

My today’s result: +18 pip profit.

Happy trading

-Dale

 

11.7.2017

Today was a pretty weird trading day. Still a profitable one! Here are my trades:

USD/CAD 1.2899 SHORT

I missed my 10 pip profit target just by 0.5 pip! I secured my position by moving the SL above the reaction. I took -3 pips loss there. Not a big loss but it was almost a profit.

This was not the last “patience tester” today ๐Ÿ™‚

EUR/USDย  1. 1386 LONG

One of the biggest “patience tester” trades in the last couple of months!

I was in this trade over 6 hours! 4 times the price came to +7 pip open profit. Still I haven’t secure the position. I was waiting for +7.5-8 pips in open profit to secure it by moving the SL below the reaction.

In the end of the day this was a full +10 pip profit.

note: I don’t see any strong correlation between time spent in a trade and its winning ratio – for this reason I don’t quit trades prematurely. Not even such trades as this one.

 

Here is a screenshot of this trade from my trading platform:

USD/JPY 114.00 LONG

I took a quick +10 pips profit there. However, some of my members didn’t take this trade because they saw it as “tested”. Indeed, the price turned 4 pips sooner and made a significant reaction.

Still I took this trade. I had those 2 reasons:

  1. The market didn’t test the volume (highlighted in yellow) – which was my trading idea. 4 pips was still quite a lot in this case. (If it was for example just 2 pips sooner I would have discarded the level)
  2. The market was in a strong uptrend. In uptrend like this you can be a bit more aggressive with long trades.

Here is a screenshot of this trade from my trading platform:

Summary:

Today was quite a tough day to trade. All the 3 trades were difficult in a different way. I had a total of +17 pip profit today which I consider a great result.

cheers,

-Dale

 

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