Good for you. Seems we’ve all had a reasonable day. Nothing too bad to report, all is calm. That’ll be my round then ?
5 lots short from 1.38’ish and closed out at touch of 50 period DNC… 87, 87,87,72,72… 405 pips. 
Maybe we should open that as a business ST. A pub where you can gather AND place trades at the same time !! Maybe then the wife wouldn’t complain when we told her we were going down the pub with the lads LOL !! 
As for R Carter’s attachment, I can see it clearly but, and this is my fault entirely, I don’t understand it.
That said, I am new to Donchian Channels as well, so some more research on my part may be called for.
On a side note, I’ve spent a large part of the day trying to decide what my trading autobiography would be called. Right now I can’t decide between - Getting Off At The Next Stop ! or - Hello, Is That The Samaritans?
HoG
I’ve just come in from trying a pint of Chatsworth Gold for the first time - it’s local, felt I ought to. Not a bad pick if HoG wants to run a guest beer or two.
That’s awfully decent of you, HoG. Pint of Chatsworth, please!
Ah yes, lots - I’m a simple soul at heart, one Short, 70 pip run, thank you very much. Haven’t really got into the accumulator side of trading. Nice work, and gives good headlines!!
Well, clearly we need quite a specific property: three stories, I’m thinking Georgian, sprawling pub on the ground floor, decent food on one side, but make sure there’s a bar on the other with no dining, then up a flight of stairs you find our publishing house (tales of hope and inspiration a speciality), then up a further flight of stairs you find the trading floor, timezone clocks, multiple widescreen monitors, a power-dressed receptionist, the works. Looking at the profile of the economy, I reckon that at any one time at least one of the businesses would be going great guns.
So we’re forming a company with three distinct divisions, but with one cross-division rule: all board meetings to be held on the ground floor.
(PS: I laughed out loud at 'Hello, Is That The Samaritans?, but think we ought to have a little more positivity around our debut release. I’m going with RCarter’s ‘400 Pips And Back In Time For The Board Meeting: A Trader’s Story’)
(And it’s Donchian Day 1 for me, too, but always fun to explore a new side to trading)
Anyway, with that I think my dinner’s ready! Glad that the thread has a generally upbeat feel at the moment, despite the current choppiness. Long may it continue.
ST
TP1 was reached and I closed one position…after the rebound had to close the second one at 1.3763
:35: I just got 147 pips (total from 2 trades) …1H chart is forming a new short signal…I will wait for US close…
I am just wondering how you all count the pips, lol. If price goes down from 138 to 137 thats 100 pips to me. No matter if I buy 100 lots or 0.01 lots. Just saying. I am not that far that I buy 100 lots.
Well done to all today for shorting EU.
ST,
I’ve found a video instruction about Donchian Channels. I’m trying to work out how to get a link for you as it is on a web site that is connected to my trading platform. Unfortunately you need to be able to sign into the site to see the videos. Usually they post their videos through youtube so I’m trying to find it there.
There are some videos on youtube but they’re mostly garbage.
Loved the idea for the sprawling Georgian Trading pub. Think you, me, R Carter, yunny1, Buckscoder and Nikitafx might have to have a discussion about who’s dressing up as the “power dressed receptionist” though. But apart from that, the idea has merit !!LOL
you are right buckscoder we should only count NET pips… then I only got 105
ST
OK, found a way for you to watch the Donchian Trading Strategy video. It may involve me breaking a little rule of Babypips in that I have to mention another website, however it’s not my website and no-one gains from me mentioning it.
I don’t know if you have a Twitter account or not. If you do…good, if you don’t you can sign up, it’s totally free, and you get instant access to the site. When you get on to twitter, there will be a search box. In the search box write gaj48 and then hit search. gaj48 is me, and the top post will say Chaeck this out and then a link that will take you to the video. The video lasts just over an hour so you’ll need some of that elusive to all parents stuff called, “free time”
First 5 minutes or so the guy tends to waffle a bit but it’s worth watching nevertheless.
Let me know if you can’t get it and I’ll try a different approach.
Apologies if mentioning Twitter has breached any BP rules. It was not done to promote that site in any way, just purely as a vehicle for getting a video to a friend.
READ POST BELOW FIRST ST !!
HoG
ST
Try clicking this link to take you straight to video without having to go through all the sign up stuff.
I’ve just watched the video and it is very interesting. Even if it is only from an education point of view, it is well worth taking this Donchian Channel stuff for a test drive on a demo.
Interesting piece of advice given is that on a daily timeframe your Donchian Channel should be set to 20 periods, but ANY time frame lower than daily ( 4H, 1H, etc ) should be set to 55 periods.
Curious to hear R Carter’s view on that as he actively trades Donchian Channels. Is it just a personal preference thing or is there a specific reason for this ??
Anyway, hope this link works. If it doesn’t I guess you’ll never know about it cos I’ll test it now and if it doesn’t work I’ll delete this post. So if your reading this, it works. That sounds as though I’ve had a few Chatsworths already eh?
Donchian Channel Richard Krivo Sept 6 | coursearchives on blip.tv
HoG
Yes shorting off 1.38 myself, but I don’t expect any big moves over the Asian… might reach 1.3743 and bounce? But tomorrow could reach 1.37?
HOG,
Good DNC vid, thanks for posting it.
Laurence Connors and Linda Bradford Raschke wrote a book titled, “Street Smarts, High Probability Short Term Trading Strategies”. In the book they talk about strats titled “Turtle Soup” and “Turtle Soup Plus One”.
The Original Turtle’s strat is a breakout trading strat. The “Soup” strats are more of a rejection / reversal strat… sell resistance… buy support.
I’ve attached a PDF of chapters 4 and 5 from the book, explaining the “Turtle Soup” and “Turtle Soup Plus One” strats.
A few years ago somewhere in FX land I read about a strat where you trade price action off the DNC upper, center, and lower lines same way you would trade price action off the upper, center and lower bolls bands. Might be something worth playing around with.
Whenever RC throws out a new strat the smart thing to do is take time and study what he is doing… over the last few years I’ve learnt a lot from him!:21:
woke up late this moring, missed move down. Price now at 1-3745, not getting in at that level. Will watch what happens but more than likely missed move. Oh well, there’s always monday !!
Yes, that’s them - with a decent pair of boots you can walk to the brewery from my house, so I really consider it my civic responsibility to sample local produce. One has to support the local economy, after all!
I count them the same way you count them, Buckscoder. 1.3700-1.3800 is 100 pips to me, too.
Thank you, would be interested to see it.
As for the receptionists - six of us, three arms to the business - I think we might find ourselves needing two per division. I won’t say one each, as that would make me sound unprofessional…!!
That link works great, will have a watch: thank you very much for making the effort, appreciated.
Too many Chatsworths lol!!
As you say, there’s always Monday, and the signs are that the market should be better than it has been recently.
ST
Interesting ascending triangle forming on the Hourly EUR/USD chart, by the way, with great adherence to the 50ema. It’s got to break one way or the other soon!
ST
My monies on south… looking for a break of support at 1.3794.
EDIT: That will do me… I’m in.
Looks a bit mixed to me - rough symmetrical triangle on the Weekly, we’re in no man’s land at the moment, stalled PA on the Daily - ditto, although if I [I]had[/I] to bet I’d agree that south is probably more likely than north, but uptrend on the 240 bouncing off the top of the ascending triangle, same on the Hourly - I took a sneaky Long this morning, Pivot break off the Hourly, got a little better than 1:1 out of it, came out at the top of the triangle, so will probably now sit on the sidelines and watch this one. I took the same trade on AUD/USD, so don’t want to push my luck on a Friday!!
I am not seeing the same break of Support that you are - that’s the joy of Forex, we all see the detail differently, even if we strategically agree.
Good luck with the trade.
ST