Long term trendlines. Gotta love it!
I saw this daily I4b bouncing off the trendline but was busy watching youtube as the hard break occured
excuses, excuses
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Many choose unhappiness over uncertainty.
Where can I learn more about Price Action like those in James16 charts? 9 replies
DislikedIf I may, price went exactly where was supposed to go, PPZ at 1.535 and turned back, at this stage in my opinion some action should have place (b/e, moving stops..).
P.S. On my live account it was b/e for me, so winning trade :]Ignored
DislikedLong term trendlines. Gotta love it!
I saw this daily I4b bouncing off the trendline but was busy watching youtube as the hard break occured
excuses, excusesIgnored
DislikedI am seeing many people recommend this thread. Can anyone please help me and tell me how to use this thread to my advantage??Ignored
DislikedJust in case not everyone knows this. The size of the bar in terms of pips doesn't mean anything. You just position size your risk accordingly when you choose how much "LOTS" or units to risk.
Just a few things to note.
Trading the James16's principals doesn't mean trading any possible PA bar. James always says be picky and look for great bars at great locations. For me I am trading mostly the daily and weekly with some guide lines of what I'm looking for.
BenIgnored
DislikedActually, why are all the majors vs USD pairs dropping like bricks all of a sudden? Any important news/event happened?
And will I be able to better prepare for such similar events from PA?
Again, apologies if my questions are stupid. Pls excuse the newbie here.Ignored
DislikedI think that this one will run a while bro! I'll be looking for lower highs to add on to my position throughout the coming days.
K.I.S.S.Ignored
DislikedJust in case not everyone knows this. The size of the bar in terms of pips doesn't mean anything. You just position size your risk accordingly when you choose how much "LOTS" or units to risk.
Just a few things to note.
Trading the James16's principals doesn't mean trading any possible PA bar. James always says be picky and look for great bars at great locations. For me I am trading mostly the daily and weekly with some guide lines of what I'm looking for.
Great bars for me are:
Pin bars - close withing the left eye. Long nose is important...Ignored
DislikedHey Kris
The good thing is who cares!
It really doesn't matter to be honest. IMO it is getting late on a friday, markets thin out and you get profitt taking closing up for weekend etc. As for news? What is that
MikeIgnored
DislikedThe upcoming month is going to be pretty trading-intense for me... I'll keep you postedIgnored
DislikedWho are the one loosing money?
Once I find an answer, I should be able to progress further, for the moment it is still blocking my actions.Ignored
DislikedHi there
I'm sorry but you're wrong, if your only income is spreadbetting the markets (any market) you will be taxed....Ignored
DislikedHi Benji,
Thanks for enlightening with your pointers.
Your post has made me realised abt the relationship between %winning trades and the R:R placed on each trade. I've never really made any calculation abt it until your post. Now I know if we decide R:R to be say X:1, then we need at least a winning percentage of W= 100/(1+X)% to be positive in gains.
Putting in some figures,
if RR = 1.5:1, W= 40%
if RR = 1:1, W=50%
if RR = 0.5:1, W = 66.7%
if RR = 0.3:1, W = 76.9%
So, yeah a couple of full bar losses will not necessary...Ignored
DislikedHi Guys
I have been lurking on this forum for a while, so I thought let's come out of the bushes and keep on trying and learning while sitting on the back bench from all the sincere people who are helping each and everyone on this forum regardless who they are and consider everyone on this fourm as a part of a big family.Ignored
DislikedJust in case not everyone knows this. The size of the bar in terms of pips doesn't mean anything. You just position size your risk accordingly when you choose how much "LOTS" or units to risk.
Just a few things to note.
Trading the James16's principals doesn't mean trading any possible PA bar. James always says be picky and look for great bars at great locations. For me I am trading mostly the daily and weekly with some guide lines of what I'm looking for.
Great bars for me are:
Pin bars - close withing the left eye. Long nose is important...Ignored