I also pulled out of my long on GJ, pin over there too, ...it looks like GBP might be in for a short spell of weakness.
If you can wait and not be tired by waiting...
Where can I learn more about Price Action like those in James16 charts? 9 replies
DislikedAlso posting chart for gbp/usd like Interceptor, what do you guys think. If ends up with nice pin bar, would it be valid for SHORT?? Mabey some resistion from the past in blue area...Ignored
DislikedI did a test with Sportsbook. Took $25 to $300 in about a week. Played some Sit n Go's and a few low fee entries to their huge tourneys and came in top 5 twice. Requested a check for $150 which I got a few weeks later, but it bounced. Second check bounced too. I love playing low stakes games to practice money management skills, but my days of putting real money on those sites are over. So now I just open $250 forex accounts instead to practice different money management strategies. HeheIgnored
Dislikedpassed on both here, size of bars were too small for me, nice location on both but just not quite good enough for meIgnored
DislikedIt closed as a PB on my chart. The reason I took it , is that its from big round number 1.6000, 50 fib ret from last swing and it is swing high with room below the entry. The PB could have longer nose, but overall it is valid setup. It depends now if we have a luck.Ignored
DislikedI bow to your experience but as you say you need to be in front of the screen for long hours, over the long term I think it would be difficult to be on the ball all the time. Why do it, as you say you can make 1% on anytime frame.Ignored
DislikedHere is a question for you Mike. Would several factors of confluence ever influence your decision to take a short nosed bar in that trade on Cable? Such as round number + fibs + divergence + swing high/low + room to run + all this happening on lunar eclipse bla, blah....... I ask because when I saw this bar, I could hear my inner Fudd tell me "the nose is too short-------next trade opportunity pwease". Thanks bro!
K.I.S.S.Ignored
DislikedHere is a question for you Mike. Would several factors of confluence ever influence your decision to take a short nosed bar in that trade on Cable? Such as round number + fibs + divergence + swing high/low + room to run + all this happening on lunar eclipse bla, blah....... I ask because when I saw this bar, I could hear my inner Fudd tell me "the nose is too short-------next trade opportunity pwease". Thanks bro!
K.I.S.S.Ignored
Dislikedvery rarely will I ever. Usually if the bar doesn't do it for me I will pass. Sometimes I will trade it depending on the situation and just be much more conservative with my exits etc. This was close to being a trade, but just not quite for "my rules".
Best
MikeIgnored
DislikedHAHA make that X2. That is really funny that you say that because that is exactly what I was thinking to myself.
I was really wanting to take it, but I knew deep down that it was just my desire to place a trade. Ahhhhh I have only placed one trade so far this month, but it was a good one...Ignored
DislikedIf one good trade is 1%, you can make one a day with M15, and one a week with H4. Do the mathsIgnored
DislikedOk why not trade the 1 min chart and make 8 trades a day at 1%, in fact the 1 second chart and make 20 trades a day at 1%, 20% a day 100% a week, 400% a month. I've done the math and it looks good!! Surley the maths wouldnt lie!!!!Ignored
DislikedOk why not trade the 1 min chart and make 8 trades a day at 1%, in fact the 1 second chart and make 20 trades a day at 1%, 20% a day 100% a week, 400% a month. I've done the math and it looks good!! Surley the maths wouldnt lie!!!!Ignored
Dislikednobody seems to be talking about this usdchf daily dblhc, looks pretty good to me coming off 1.08 support, anybody? or is it jst me
think i prefer this to the gbpusd daily pinIgnored
DislikedThe answer to "why not" is "because YOU cannot do it"...
P.S. Why don't you trade YEARLY charts then, Markmm?.. lolIgnored
DislikedYep I cannot make 1% 20 times a day from the 1 min chart. I doubt anyone here can either, im sure there are maybe one or two in the world who can for a few months, or even a year but they will burn out.Ignored
DislikedIt's just bigger swings that is all, Today I am up 4.6% some days I am down 6% but over all I am 5%+ a week. Again sometimes more sometimes less, To be honest the money does not even matter to me, I trade because I enjoy after being wrong for so damn long to be winning LOLIgnored