cheers
Simplicity is the key to success
Where can I learn more about Price Action like those in James16 charts? 9 replies
QuoteDislikedthank you Chaos and Ghous, its a good feeling when the more experienced members coment on my trades and say good job
Dislikedyeah, u r right about my initial sl being 60-65 ish (i think), and i kno that wld be 3:1 in terms of risk:reward
i also do a quick calc based on where my nearest trouble area is and where i can move to to try n get 1:1
another thing i did was to watch usdchf since they are opposite to try to gauge whether ill get to my 1st tp or not
like to hear wat u think about hw i handled it....lol
wow! do u really think i can do the 5min, i kno ill probably get burnt out fast but if the risk:reward is worth it, i cld ........... (nevermind)
cheers...Ignored
DislikedTrade: Long two positions at 1% acct risk each entry long @132.64 Total risk is 2%. Potential Reward is 2.01%.
Stop Loss: Initial at 131.69
[size=3][font=Calibri]Management Strategy:[color=black][font=Calibri] when price reaches 132.92 my stop will...Ignored
DislikedTo me divergence > S/R. If you get into this crap too much you start talking yourself out of trades then you take one that is a loss then you blow up a account, happens a lot. For me I trade what I know and what works on what I have been doing now about 10 years, I just add pinbars into it. Do I worry about the next resistance point? Not really, did I take a trade Mike passed on and made money? Yep 2x the usd/cad, does that mean anything? Nope. I tell you the day I faded my mentor and made money because something he did not see opened up a new world...Ignored
Dislikedhw is d usdchf trade doing, this is where i might hav taken my 2nd tp or i cld simply trail it and be above this current bar which coincides with the ppz above, so u cld jst be above that ppz if r not ready to close yet
cheersIgnored
DislikedHi Ryan,
I was wondering if there is anywhere on the forum that outlines the details your trading strategy/method. I hope you don't mind as I am very interested in your posts and would like to learn some more.
Thanks, KeanIgnored
DislikedHi,
Where you have drawn a trendline matching the two swing lows, isn't it irrelavent at the moment until price has hit a third time?Ignored
DislikedI had the same setup in my charts but I saw it too late and the pin had already broken by 15 pips. I didn't want to chase it.
Nice tradeIgnored
DislikedI was saying don't trade a 4hr like a 5min chart, I take 15-20 pip on the 5min the 4hr on the eur/usd I go for 130 on this trade not 20 with a 60 pip stop. Also don't look at charts because you will start screwing with your trade, plan the trade, place it and then do NOT screw with it. I bet your goal on this trade was NOT 20 pips....Ignored
DislikedHi.
Took 1st TP at 10850 and stop at BE now which is just above the PPZ you have marked. Going to wait until current 4H bar closes before I move stop again.Ignored
DislikedTo me divergence > S/R. If you get into this crap too much you start talking yourself out of trades then you take one that is a loss then you blow up a account, happens a lot. For me I trade what I know and what works on what I have been doing now about 10 years, I just add pinbars into it. Do I worry about the next resistance point? Not really, did I take a trade Mike passed on and made money? Yep 2x the usd/cad, does that mean anything? Nope. I tell you the day I faded my mentor and made money because something he did not see opened up a new world...Ignored
DislikedI understand Jim uses TradeStation for his charting. It also looks like TradeStation has become a brokerage instead of just a charting company. I contacted TradeStation but they do not offer brokerage accounts in Canada. So what is the best charting software? Anyone use esignal?Ignored
DislikedKean,
(And this goes for anyone who asks a similar question)
If you like someone's style and want to know more, go to their profile and click on their post history. Then spend a little time reading everything they've written.
I've done it with James16, Mbqb11, Darkstar and lots of others. It's a great way to spend a few hours. And it's the easy answer to the "where can I find more?" question.Ignored
DislikedRead my old posts, I have not changed how I have traded for years, same base just added more PA to what I do. Look at the 5min thread, just do that on the 4hr and enjoy the cash.
http://www.forexfactory.com/showthread.php?t=163972
Change the time from 5min to 4hrIgnored