RPA 2010 soccer mundial. I wonder how much money will be converted to RPA rand currency . Breakout to the downside could be very interesting and look how volatile are those selloffs.
Cheers
Cheers
Where can I learn more about Price Action like those in James16 charts? 9 replies
Dislikedenter demo this pair on break of BEOB. Not the highest bar on swing high location. But what i see is it is trading away from PPZ. and my FTA is at 1.64. so still got some room for it to move. any comments are welcome.... thanks alot...
rdgs,
skinIgnored
DislikedNice one skin. Good target.
Don't think that the other BEOB (4.23) isn't in play here . . it is.
Nice trade.Ignored
DislikedHi
Just wondered how rigid you might be on the free trade approach or do you allow some discretion to tuck your SL behind a BRN/PPZ if it might cost 5-10pips if price retraced. Sort of taking Joel's point about not necessarily advisable always to stick to rigid r:r ratios. Hope that make sense!
JIgnored
DislikedI'm a big fan on basing your stops on PA. Makes sense to me that if you are going to enter on PA, you can use it to give you an idea of what price might do after you enter. If there is a big PPZ sitting on a BRN, my short entry is always
going to be under it, so I see no reason not to put my stop behind it too - usually around ten pips. Be interested to hear J's thoughts.
Then again, I'm also a big fan of Cherry Coke Zero and McDonalds animal cookies, so feel free to disregardIgnored
DislikedA bit off topic but just like to add with regards the tax treatment of using an SB...profits being tax free is simplified...they are free from capital gains tax but if you rely on the profits to live off i.e. as your main source of income and thus classed as a 'professinal gambler' then the profits can be liable to income tax...(this is not accounting advice, just what I know from other people who have come across this).Ignored
DislikedJust noticed you have been talking pretty much a lot about the trend recently, so thought to share my thoughts if it's okIgnored
DislikedWell yeah, I thought I was about to be wowed with sum cr*ppy trading/life philosophy like everyone has at the foot of their posts.Ignored
DislikedNo eureka moment, but common sense. Everyone teaches that charts are all the same regardless of timeframe/instrument ec... This has it's truth and it's lies, frankly.Ignored
DislikedIMO timeframes are indistinguishable*, just that trading costs grow to be a too large proportion of targets.Ignored
DislikedMost good methods look at more than 1 TF for charting I think. (Or zoom out considerably on a smaller chart).Ignored
DislikedCounter Trend, as in counter trend trades.
Sorry none of my fellow J16ers could not help you with this Danku. I find it hard to believe no one was on the thread at this time.Ignored
Dislikedlol, I didnt think it was a question, I thought he was making a point about the chart. Oops.Ignored
Dislikedawesome stuff Ben.
lol, not from me. If it dont have numbers, I aint interested.
Personally, I think many people use 'psychology' as an excuse because their methodology is failing to make money. It's much easier to talk about (and write books about) 'the mental game' than it is to find a way to trade profitably, because it is all subjective and unquantifiable.
Transaction costs are one factor, definitely (although people do like to ignore them, for some reason), but a more pressing one is 'noise'. Or, more correctly, the information content...Ignored
Dislikedlol, I didnt think it was a question, I thought he was making a point about the chart. Oops.Ignored
DislikedJust remember when you take a CT Trade Ryanmcd, myself and all other Big Boys/Dogs will be on the other side, Ryanmcd 80% and me, 60% of the time........coz of inexperience..........
Keep taking the CTs all...........Ignored
DislikedAgreed. 5 mins and the like is death. 1hr is minimum anyone can really keep good at.
..... most people CANT trade 100s of things........Ignored
DislikedI really can't think of another place where this is promoted as much as it is here. I see you are very new around here (march 2010). Stick around and you'll see. Or start reading this thread from the beginning. There is a very informative first post with some references. I was "smart" when I arrived here and dismissed some of those suggestions/requirements as unnecessary. Well, after a year I think they are here in the best interest of new people. And they don't make the journey longer. They make it shorter. ....Ignored
Disliked
Personally, I think many people use 'psychology' as an excuse because their methodology is failing to make money. It's much easier to talk about (and write books about) 'the mental game' than it is to find a way to trade profitably, because it is all subjective and unquantifiable.Ignored
DislikedWhat does it tell me? That the up trend is very strong. If a high quality setup, which I categorize this one to be, can't even cut through a reasonable FTA or hits its FTA and breaks hard the other way . . . something going on. Meaning in this case, the uptrend is strong.Ignored
Dislikedthe 1hr minimum is your view (& probably your experience).
& Mike didnt say trade 100s of charts, he said watch many charts. watching & trading are oceans apart.
all i can say is your posts/'revelations' today are nothing new (to me, at least).
Seniors here teach the way they teach for a purpose.
immediate understanding & realization will come if u read & imbibe Primi's words belowIgnored