Nice to see how you are doing M
Mike
Where can I learn more about Price Action like those in James16 charts? 9 replies
Disliked{quote} Hey MM It's definitely possible to trade stocks from a D1 standpoint although I tend to recommend and think it'smuch easier on the weekly. Since stocks are centralized you have an official start and close time and they tend to gap more. Viewing them on a weekly smooths things out much easier in my opinion(for majority of stocks). As for stocks though I am not sure on what you can/can't trade from outside the states so perhaps someone non-us can recommend. We can't trade things like CFDs in the states. Best MikeIgnored
Disliked{quote} Hi Mike, Maybe you should check with a different broker. I'm in florida & trade CFD's with FXDD(oil, gold, silver) & Oanda(gold, silver). Update: On 2nd thought, I think your 3000 stocks is enough charts :-)Ignored
Disliked{quote} I like where you are at with this one. I want it to break hard though as this is on the border of a strong close under this area. So we can ditch out early too if price doesn't do what we expect. I love levels like that Nice to see how you are doing M MikeIgnored
Disliked{quote} Hey Srt As far as I understand CFDs are not legal in the US at this time. Just like you can't trade with a broker overseas. Obviously consult a professional on these matters just from my understanding Best MikeIgnored
Disliked{quote} Are breakout trades part of the James16 method? I thought that this method was all about playing price reversals based on PA. Don't get me wrong. I would love to learn to play breakouts. I just did not think that this was part of the program. Am I incorrect? Is there a separate thread regarding playing PA breakouts? Are breakout trades discussed extensively in the PF?Ignored
Disliked{quote} Hey TG, The J16 thread is so huge and there is so much at the beginning and not so distant from the beginning that has so much more to offer. The rich history contained within is so worth the time it takes to read. Reading the thread in it's entirety, although daunting is extraordinarily rewarding. There are so many gold nuggets strewn about that will be missed if you don't. I guess it is kind of like reading the bible. When you do read it you will truly understand how your view of "trend reversals" although improtant is such a minor part...Ignored
Disliked{quote} I like where you are at with this one. I want it to break hard though as this is on the border of a strong close under this area. So we can ditch out early too if price doesn't do what we expect. I love levels like that Nice to see how you are doing M MikeIgnored
Disliked{image} Best, Jonas PS: Bit offtopic: Is there any tool,excel or indicator that tells me how much I am able to trade (in units) when I for example place a stoploss of 400 pips? In other words: A tool that contains 4 variables 1. stoploss in pips, 2.account equity, 3.traded leverage, 4.margin of broker and If Example: I have 10.000 $ in my trading account and want to trade silver. I use a 1:100 leverage and want to set a 400 pip stoploss and risk 30% of my balance, how much units should I trade? I know that I can do this calculation for myself, just...Ignored
Disliked{quote} Each country has its own rules about trading foreign shares. You should find out if you have restriction of that. Thats why CFD is an alternative way to trade shares as you will not buy the shares themselves but only play the price difference. Alpari provides around 50 CFD (the biggest amount I saw), that have exactly the same price chart as the original shares. Of course, tradind real basis is much more appealing but better less than nothing.Ignored
Disliked{quote} There are brokers with over 100 CFDs. For example GCI trading. I started to prefer shares over the forex due to the strong trends in some shares with no resistance in the left. You could simply buy the break of the last bullish bar and wait for price to go up. Or you could wait for a correction and buy after that to follow the trend. Or you can buy and hold with no stop loss or a big stop loss. There aren't any forex pairs with such strong trends. Even if on daily it appears to be a strong trend if you switch to weekly or monthly you will...Ignored
Disliked{quote} CFD do have gaps the same the shares do. You have the same risk to ruin the account by being gapped. The CFD chart has the same chart as the stock chart, and if stock chart gaps, CFD chart gaps as well the same. It has no any limit of loses. If you open buy with 100 pips SL and price will have 1000 pips gap against you, you will take 1000 pips loss. It all depend what position size you have. If you have too big position you'll get margin call. All the same:FX, shares, CFD.Ignored
DislikedI considered this trade idea but decided not to take it... short XAUUSD on the break of the low of today's BEOB, which is also a Fibo 62 and S/R level. Trade it to a demand level where my limit order is on chart. SL above last high. Why I decided against trading it? There is a problem of 1300 BRN in the way, which the price previously reacted to. Why am I posting a trade that I am not taking? ;-) For my learning, please. Whatever feedback I will get, it will be a learning. Thanks a lot!Ignored
DislikedI considered this trade idea but decided not to take it... short XAUUSD on the break of the low of today's BEOB, which is also a Fibo 62 and S/R level. Trade it to a demand level where my limit order is on chart. SL above last high. Why I decided against trading it? There is a problem of 1300 BRN in the way, which the price previously reacted to. Why am I posting a trade that I am not taking? ;-) For my learning, please. Whatever feedback I will get, it will be a learning. Thanks a lot! {image}Ignored