james16 Chart Thread

Quoting Rust

Great Mike,
does YUM states for yummy

btw what's your plan on the EURPLN. It chops pretty wide range. Are you still in? Are you willing to hold through the holidays?
I don't know how spread will behave on the upcoming days. I'm a little afraid not to be hit by something stupid like a huge spread widening.

Quote

WHATEVER / WHICHEVER WAY YOU DECIDE TO TRADE YOU MUST (AT A MINIMUM):
ON DAILY AND WEEKLY TIME-FRAMES, YOU ONLY DEMO-TRADE FOR THREE CONSECUTIVE PROFITABLE MONTHS IN A ROW. YOU DO NOT PROCEED TO STEP TWO UNTIL COMPLETED.
OPEN AN ACCOUNT WITH HALF OF THE INVESTMENT YOU INTENDED TO GO FULL WITH AND CONTINUE TO ONLY TRADE DAILY AND WEEKLY TIME-FRAMES UNTIL YOU ARE PROFITABLE THREE MONTHS IN A ROW MINIMUM. YOU NEVER RISK MORE THAN TWO PERCENT OF YOUR ACCOUNT ON ANY ONE TRADE. YOU DO NOT PROCEED TO STEP THREE UNTIL STEP TWO IS COMPLETED.
FUND A FULL...

Quoting Zens

hey james ,
im quiet new to all this forex and trading stuff but luckily i found this gold mine ,
sorry but i dont know where to post my question to you so i just do it here,
you posted this:


Why is it important to start with long time frames, since i intended to get into shorter time frames(scalping), i am curious abou it?
thanks for answering and everyone have a good time

Quoting mbqb11

Hey Zens

From my experience helping traders(which has been a long time now) this is one of the most common questions. I always hear things like "mike but if I trade a one hour timeframe I'll get more experience" or "but I want more setups to make more money" etc etc.

The real simple answer(and I can expand) is that it gives you a foundation. What happens on the longer timeframes is we must take time and we are not rushed to analyze and make decisions so quick. It's way to difficult for 99.9% of the people out there to not only learn...

Quoting Zens

Hey Mike thanks for taking your time and answering my question.
so which are the longer time frames ? do they start 4h+?

Quoting Pinbar

I am bored with having a 3 day weekend for the last 3 months.
So, for any would be Jarrooers out there, here is a possible area to watch for price to tip us off.
This is not a trade recommendation, simply an area for new people to Jarroo's methodology to get their foot in the door.

Feel free to ask any questions.

Quoting drod

Hi Pinbar,

I've been trying to get to grips with Jarroo's methods for a while now and had a question regarding currency pairs. I've been trading on a demo account with EURUSD mainly. I notice people are using many different pairs, and I've also picked up a list of around 10 other major pairs from other sites (including XAGUSD and XAUUSD). I thought that using more pairs would provide more sit-ups for me to test - especially using daily time frames.

I notice that many traders load graphs with various pairs, and I'm trying to work out the best way...

Quoting Pinbar

I hear you, I started off with so many pairs that it was hard to keep up with, what was going on, in each pair.
I would pick ten pairs, lay them out across the MT4 platform, as in the screen shot.
Then, just go to view, market watch and drop any pair you want to look at over a chart window that has not got much of interest on it.
For example, price may be too far away from an area, drag and drop the pairs until you find ten that are current and have a high possibility of price reacting at these areas, sometime this week. On the weekend you can reevaluate...