Capital Preservation is key to long term wealth accumulation
- Joined May 2005 | Status: Member | 945 Posts
Capital Preservation is key to long term wealth accumulation
Where can I learn more about Price Action like those in James16 charts? 9 replies
Quoting habeebDislikedHi,
I've finally found another excellent forum, but now I can actually post/ask questions when I have some (hope that's okay).
Jim, great thread you got going here. I've tried your techings and it works great. It's so simple, but very effective. It's nothing new to me though (double tops/ bottoms,etc), don't get me wrong, I'm still learning, but us newbies tend to forget the basics and look for a shortcut. Your explanations has just been that much clearer and much more easier to understand.
Thanx a million
HabeebIgnored
Quoting habeebDislikedHi again,
Here is one of my 2 trades today on S&P. Both were closed in profit. Thanx for your encouragement. I still feel that I'm missing something. I don't have any MA's, indicators, fibo's, etc. I use pivot levels though.
I've got another question regarding one of your mini oil charts. I'll ask at a later time, when I remember. Please comment on the chart.
Once again, Thanx a million
Enjoy your weekend
Habeebhttp://www.forexfactory.com/forexfor...ntid=428&stc=1Ignored
Quoting fx-trader777DislikedPlease provide me with some advice. I think there is clear divergence at 4-hour chart.Ignored
QuoteDislikedstart using fib ret to see where you can get confluence with your pivot levels.
QuoteDislikedand whatever you do be patient and wait for the best set ups.
QuoteDislikedif i get a crossover signal to go long and price is 5 pips under a weekly or monthly pivot or fib confluence there is no way i am taking that trade for obvious reasons. now, if i get a crossover signal to go long and price has just ret back to a pivot level or fib ret(support) thats when i get ready to make money. combine this kind of thinking with a knowledge of price action analysis and you are in the drivers seat. if this sounds complicated trust me it is not, it just takes focus and practice, practice, practice. AND REALISING THAT THERE IS ANOTHER PERFECT TRADE RIGHT AROUND THE CORNER IF YOU MISS ONE. rifle shots not shotguns. jim
QuoteDislikedhey merlin, i keep an eye on
currency futures: bp, jy, sf, cd, cd, efx
oats, wheat, corn, soybeans
mini dow, mini sp, mini russell, mini nasdaq
mini oil, gas
tbonds, ten year notes
silver, gold, copper
cattle, hogs, pork bellies
around ten pairs forex.
Quoting habeebDislikedHow do you keep track of all the stuff you trade? Multiple screens? Certain time of day for each one? 150 inch monitor?
I toggle between charts but more often than not, I miss alot. Missed the BIG oil down-run today.
ThanxIgnored
Quoting habeebDislikedDouble Bar Low Higher Close
Does the close have to be higher than the first bar's "open" or "close"?
Do you trade Equities too. Can your techniques be used for Equities too, or is that market more fundamentally driven.
Thanx
Oh yes... do you listen to news events (NFP, Trade Balance, FOMC, etc)? or do you trade strictly by the charts?Ignored