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  • Thanks for visiting!

    Welcome to the inside of my trading brain. I built this forum so that I could jot down my thoughts as I take trades, as well as being able to add follow-ups for further analysis.

    Feel free to post your own thoughts or comments, I just ask that you keep it real and friendly at all times, cheers!
  1. pdr

    NZDUSD Daily Long 23-03-2018

    After just closing a NZDCAD short for +200 pips (based on an anticipated rally in NZDCAD), I thought it worthwhile to take a long NZDUSD. As per the chart below, I anticipate a bounce off of the 'Floor Layer 1' looking for a R:R of 1:2.
  2. pdr

    EURAUD Daily Sell 21-03-18

    I took a sell on the EURAUD Daily chart. Speculating that the bull run may be nearing its end (speculating - some would call that paramount to gambling!). I saw Negative RSI Divergence so took a risk, looking for minimum R:R of 1:2 (chart below).
  3. pdr

    NZDCAD Daily Sell 14.03.18

    I took a short on NZDCAD on Thursday. I noticed some negative RSI Divergence on the chart. Though this could be coiling to push higher I felt it was worth the risk. Initial R:R of 1:2 as usual. Observing the 3 floors of RSI Resistance. This is something I plan to cover in a more in-depth...
  4. pdr

    AUDCHF Daily Sell 15.03.18

    Took this short trade on Friday. Very noticeable entry based off of Bearish RSI TL followed by a 61.8 Retrace with an additional 'M' Shape as confirmation. Looking for a R:R of 1:2 essentially doubling my reward for the amount risked.
  5. pdr

    EURNZD Daily Buy 15 March 2018

    Today marks the start of displaying TradingView Charts as opposed to MetaTrader4 Charts. Because the greater majority of my trading is done exclusively on Daily Charts by definition this makes me a Swing Trader (someone that takes trades and holds them for a day to a few days. When I grow up I...
  6. pdr

    NZDUSD Daily Long

    Today I'd like to introduce a few new concepts to my trading strategies. Also, there will be a simplification of the RSI levels used on the charts moving forwards. For an explanation of RSI Levels and how to set it up on your charts head here. The first new concept is that of 'The Floor' in RSI...
  7. pdr

    AUDNZD Daily Sell

    Here's a trade that got triggered on Tuesday 23 of Jan 2018 as per the chart below. Looking at the plain chart above probably doesn't tell you much, so let me explain by drawing some lines on the chart (below). What I was looking at here was a continuation to the downside following...
  8. pdr

    EURUSD Daily Short - Didn't Eventuate

    Here's a trade I was looking at taking this morning, but it closed at my expiry price overnight. The original chart at the time of placing the trade below. I think it's important to experiment, especially when you don't have a lot of money at risk. Experimentation is the only way forward in...
  9. pdr

    NZDUSD Daily Short

    As usual, the chart at the time of entry first. I hedged my bets here...translation...I wasn't really sure which way to go. I'll explain more after I draw on the chart... Initially, I thought this trade might hit resistance and then retrace to the downside. Then I second guessed myself and...
  10. pdr

    GBPCAD Daily Long

    Took a long entry on the GBPCAD Daily chart, the original entry below. Taking a look at a recent chart (below0, you can see the candle I based the trade on, as well as SL, TP and R:R (Risk:Reward). The trade was supported by a 'W' formation/pattern that could've been taken as a bullish sign...
  11. pdr

    NZDCAD Daily Long Entry

    OK, so this one is a little different, as I used RSI as a roadmap to assist the entry, original entry chart below. Looking at the chart below, entry was taken based off of a break of the candle at the bottom of the chart - SL -5 pips from the low and Entry +5 pips from the high. A quick word...
  12. pdr

    USDCAD Daily Long Entry

    Yet another trade based on a signal without any real confluence (mental note to self: are you learning your lesson yet?) - original chart at the time of trade below. I was looking for a break of a high of a candle which didn't take long. Entry at +5 pips above the high and Stop Loss set to -5...
  13. pdr

    USDCHF Long Entry

    Another one for the confluence required handbook. This folks, is yet another textbook example of why you should look for sound confluence in your trades, rather than just using one or two reasons for entry. Yet again this is about the dominant trend as opposed to a trend reversal. First the...
  14. pdr

    GBPUSD Daily Short Entry

    And so it begins, the first post in the newly created forum. Hopefully this gets seen by a few people and we can jointly comment and learn from each other. Anyway, onto the post. What I should've reminded myself of on entering this trade is that 'your odds of a successful trade are much, much...