Joel ,Tia
You were right on this. I need to learn patience
You were right on this. I need to learn patience
Where can I learn more about Price Action like those in James16 charts? 9 replies
Wouldn't it just chap your a$$ if it went anyway
DislikedTrouble Maker mode: ONWouldn't it just chap your a$$ if it went anyway
Trouble Maker mode: OFFIgnored
Dislikedlol.....quiet in the back there.
Seriously though, it's a good point. We can't judge the viability of a trade setup by whether it worked out or not. Sounds mad doesn't it? But think of it this way. When we enter the market it can only go one of two ways. Up or down. So sometimes we'll make bonehead moves and be right.
Those are very dangerous times.
We want an edge that can be measured across a hundred trades. I always ask myself "if I took this setup a hundred times would I end up profitable". Getting to a place where you don't judge...Ignored
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For example, I've been guilty of seeing a setup by a guy I look up to an entering on it. Sometimes they go to the moon. Are they within my rules? Not even close. Those are failed trades to me. Once when I did that, the trade made 5R. Still a failed trade. Why? Because I broke my rules and was led around by my nose by a forum post.
My view of what's a moronic trade has changed. And it has very little to do with whether they win or lose.Ignored
DislikedWhat do YOU think.
You can be helped better if we hear your thoughts and why you'd take the trade.
(Then MBQB11 will find 50 reasons not too... )Ignored
Disliked
I like the levels but I would probably like to see a better defined bar (stronger PA) which is why I am trying to get feedback on whether I am looking trades that aren't there!!Ignored
DislikedHi Guys,
Just wondering if this is a good trade.
I think not, cause there seems to be some conflict btw Daily & Weekly.
Daily Pin bar + 50% ret. Looked like PPZ there too.
Stochastic oversold too.
However, weekly had that huge ass engulfing.
My thoughts were that since weekly was saying "down" chances are that the tide would be pushing downward.
Hence, Daily Pin... not so good.
Comments please! Noob here
Daily on left. Weekly on right.
CADJPY; Daily (left); Weekly (right)Ignored
Dislikedyeah nervous now!
Ok - swing low and major historical ppz and with the daliy trend
good shape pin in terms of longish nose but I accept that the positioning of it is't perfect at the body is almost the same size as the previous bar!
1st trouble at 0.9880 2nd at1.009 3rd at 1.03
I like the levels but I would probably like to see a better defined bar (stronger PA) which is why I am trying to get feedback on whether I am looking trades that aren't there!!Ignored
DislikedYou've nailed quite a few good trades recently Salisa,
You would know yourself that this one doesn't come anywhere close to those trades, and that realization is so very important,
Enough said...Ignored
DislikedI hope you people can help me out here. I agree that that charts you posted make it look simple BUT I couldn't get up the courage to enter the cable trade due to the traffic on the left (see my blue highlighted area). I thought that the last pb would've had to get way past this area to give a decent R:R. Sadly, this is the way of most of my potential trades. I find it all too easy to find reasons not to trade. Sure, it protects my account, but I miss out on a hell of a lot. In hindsight, I should've entered this trade. What would the pros on here...Ignored
DislikedThanks folks - you wait for long enough and you start to see things!!Ignored
DislikedHi Cyrus,
We want our pin bars to protrude away from the vicinity of PA, meaning they need to stand out from the charts and not be tucked up amongst the bars next to it.
So location was a concern,
Furthermore, look what the pin bar was headed straight into? Yes you guessed it. A distinct ppz.
A quick break would have given the setup more weight, but clearly the pin bar high and the other high that lined up with it proved to be a major hurdle given that they were right on a responsive ppz.
Wouldn't rate that as even a B setup...
Ghous....Ignored
DislikedI love your stuff Ryan. Always have. Good to see you here again.
You mentioned spending years not understanding why you were losing. I quote that often to people as an example of the level of perseverance it takes to get profitable. When you finally got profitable and looked up, what were the reasons you were losing over those five years? And what changed?
I've read your post history twice and I don't think it's something you've ever written about. It'd be a great insight into a winner's psychology.Ignored