Home
Search Forums
Keywords:
Search Titles Only
User Name:
Exact Match
Show Results As:
Advanced Options
Reply
 
Thread Tools Search this Thread
  #69063  
Old Jul 19, 2010 8:32am
joelcf's Avatar
My gun control is a steady hand.
 
Member Since Jun 2009
More than 10 Vouchers  662 Posts
Default

Quote:
Originally Posted by Pinbar View Post
Either of these
Although, I think we can disregard the small bump.
MACD 'divergence' on a single bar? hrm.
__________________
When you have to shoot, shoot. Dont talk.
Reply With Quote
  #69269  
Old Jul 21, 2010 1:17am
joelcf's Avatar
My gun control is a steady hand.
 
Member Since Jun 2009
More than 10 Vouchers  662 Posts
Default

Quote:
Originally Posted by Pipage View Post
Im dreaming of the day when i can play a 1.0 lot.
For a while, the H4 ATR of eurchf was hovering around 5 pips, with the spread under 2. Allowing a bit of leeway for validation on your setup and you could realistically get a 10 pip stop, esp given the BRN barrier.

So, sticking to the conservative 2%/H4+ rules...

10 pips x $10/pip = $100
$100 / .02 = $5k

Not so out of reach, now?

While this is an obviously cherry picked scenario, it also shows how much the stop size of your setup affects the number of contracts on your trade.... and so, if we wanted to attempt to leverage our account more effectively while maintaining disciplined risk management, one way to go about it would be to seek setups with lower potential stop size.

Think about how price reacts to a VBRN (in the parlance of our times), or around an option barrier, or around a heavily confluenced PPZ.

Not all A+ setups are equal.
__________________
When you have to shoot, shoot. Dont talk.
Reply With Quote
  #69358  
Old Jul 21, 2010 11:16pm
joelcf's Avatar
My gun control is a steady hand.
 
Member Since Jun 2009
More than 10 Vouchers  662 Posts
Default

Quote:
Originally Posted by deltatrade View Post
do you ever wonder what will happen when all this material will be in a book and many people will enter positions like you do and when you do? in my mind that is a good thing because it will make things go you're way more rapidly and more fermly (either sell or buy). is this correct?
Not really. It just means the other side would change the way they break up their orders, and smarter traders and desks will exploit the amatuers jumping on a 'sure thing'. It isnt like insto traders are going to let a bunch of people slip their orders and squeeze their client spread.

Years ago, people used to think MA cross systems or n period breakouts were the holy grail. Now? Turtle soup.

Efficient markets are a bitch.

Quote:
Originally Posted by deltatrade View Post
i'm asking you this because i have already seen some seminars made by outsiders based on pinbars and it will not be long till this info will get into a book this time written by a professional.
Pring covered it 10 years ago. Todd Mitchell 15 years ago. Steve Nison 20 years ago. Edwards and McGee 25 years ago.

Jim has packaged up decades of hism own knowledge, experience and insight, gave a solid business approach (unlike most TA books, which get bogged down in patterns instead of telling people how to run a business and not go broke) and (with mike riding shotgun ) somehow managed to make it simple, understandable and newbie-friendly. Oh, and for free. Y'all dont know how lucky you are

Quote:
Originally Posted by deltatrade View Post
maybe large institutions will also follow. i'll say that in max 5 years time some institution will go ahead with james16 method. and then...what? good luck hunting rabbits :d
Gee, lucky bankers are still yet to discover the internet
__________________
When you have to shoot, shoot. Dont talk.

Last edited by joelcf, Jul 21, 2010 11:38pm
Reply With Quote
  #69359  
Old Jul 21, 2010 11:24pm
joelcf's Avatar
My gun control is a steady hand.
 
Member Since Jun 2009
More than 10 Vouchers  662 Posts
Default

Quote:
Originally Posted by ghous View Post
Less neater than the one which occured a little earlier, but tradable IMO with tight management.
For me, this is the best trade on the whole chart. Tiny risk, huge reward.

Click image for larger version

Name:	audcad%20daily.png
Views:	71
Size:	30.7 KB
ID:	512157
__________________
When you have to shoot, shoot. Dont talk.
Reply With Quote
  #69362  
Old Jul 21, 2010 11:29pm
joelcf's Avatar
My gun control is a steady hand.
 
Member Since Jun 2009
More than 10 Vouchers  662 Posts
Default

Quote:
Originally Posted by Dan Gilbert View Post
I think people don't seem to understand that Price action equates to how price moved over a certain period of time.... it's not a holy grail, it's simply a display of how price moved.
Exactly. Bars are just an abstraction of price movement. We could represent the same information as a line, as some Xs and Os stacked in lines (p&f charts) or as a pile of multicoloured cats if we want*. We just want some way of trying to read what the real money is doing.

And with tiny accounts, we can jump on board those movements without affecting them.

(pm me credit card or paypal details for my $49.95 Cat System ebook - guaranteed to get your account purring and put the claws into your compounding!)

Quote:
Originally Posted by Dan Gilbert View Post
it's not like you can "exploit" those who use PA....
Using PA? No.

Barspotting and trying to 'trade' every pin-looking bar they see? Definitely. You know where their entries are, you know where their stops are. One of the most reliable setups is a failed pin, because you know there are gonna be a bunch of people despearate to get out.

And probably the reason Mike and Jaroo spend about 27 hours a day (each) telling people to look for location, location, location.
__________________
When you have to shoot, shoot. Dont talk.
Reply With Quote
  #69428  
Old Jul 22, 2010 6:46am
joelcf's Avatar
My gun control is a steady hand.
 
Member Since Jun 2009
More than 10 Vouchers  662 Posts
Default

Quote:
Originally Posted by mbqb11 View Post
I feel Joel and I could have many a beers together
First one to 5000 posts picks up the tab
__________________
When you have to shoot, shoot. Dont talk.

Last edited by joelcf, Jul 22, 2010 7:38am
Reply With Quote
  #69456  
Old Jul 22, 2010 9:50am
joelcf's Avatar
My gun control is a steady hand.
 
Member Since Jun 2009
More than 10 Vouchers  662 Posts
Default

Quote:
Originally Posted by ppfx View Post
well said SC Hope you dont mind if i add something. I recently came across to wizard's post where he explains about exits (the post can be found on the first page of this thread, here is the link to that post link)

what i wanted to say is that he explained very well imho about small bars, qoute:

''[color=#222222][font=Trebuchet MS][font=Courier New][color=#222222][font=Verdana][color=#222222][font=Verdana][color=#222222][font=Verdana][color=#222222][font=Verdana][FONT=Trebuchet...
People would do very well to read every post they can get their hands on from the_wizard, darkstar and merlin. You'll learn more in a couple of hours about how an auction market works than most people learn, uhm, ever.

Esssential stuff if you want to get beyond level 0 thinking.
__________________
When you have to shoot, shoot. Dont talk.
Reply With Quote
  #69499  
Old Jul 22, 2010 6:23pm
joelcf's Avatar
My gun control is a steady hand.
 
Member Since Jun 2009
More than 10 Vouchers  662 Posts
Default

Quote:
Originally Posted by six gun View Post
"... My legislation would simply impose a small tax — of 0.005 percent — on these currency transactions. ..."
Gee, I wonder if the NY session is going to suddenly lose volume. lol. I'd say that London will pick it up, but from what I can tell, British politicians are even worse than their US counterparts.

The idea of a transaction tax has been floating around for a couple of decades now, since the late eightites...and it goes in and out of favour. It's a good platform for grandstanding about the 'evil speculators' and 'big banks profiteering' - and hence only an argument used by clueless politicians.

And what they are too stupid to realise (or, in most cases, they hope voters are too stupid to realise) is what this is that yeah, it might 'hit' the hedge funds and investo desks...but its nothing more than an inconvenience. It might kill off some marginal strategies, but most will just be adapted to the new transaction cost (like someone said, its just a bigger spread) and continue onwards.

But the bigger impact will be on the institutional banks, entering into genuine hedging/currency migration. You know, the ones that fund imports, exports and international money market loans. They cant just say 'x model isnt profitable now, so we will do something else' - they need to buy/sell currency regardless. And they sure as hell arent going to wear it, any transaction cost is going straight through to the client... and then the consumer.

In the end, the consumer is the one getting screwed, not the 'big' bad banks. It's the people buying a car, buying imported food, running a business exporting goods or getting a mortgage that are being taxed.

Shortsighted populist idiots.

Quote:
This funding would provide more child care options, so working families can obtain the quality care their children need to begin school ready to learn.
'guys, it is totally for the children! and families! you cant vote against children and families, can you?!'

bleh. happy friday
__________________
When you have to shoot, shoot. Dont talk.

Last edited by joelcf, Jul 22, 2010 6:33pm
Reply With Quote
  #69746  
Old Jul 26, 2010 9:35pm
joelcf's Avatar
My gun control is a steady hand.
 
Member Since Jun 2009
More than 10 Vouchers  662 Posts
Default

Quote:
Originally Posted by Adilius07 View Post
If you are running a business for 4+ years and it gives you no profit.... It is not a business it is just a game or hobby.
Consider those 3+ years of "preparation"...This is defenitely not being a business then...
You know who the biggest no hopers are? Doctors! I mean, 4 years of undergrad and then 4 years of med school? And then another 2 years of interning before they start turning a profit?!

They should totally have just given up after they werent millionaire surgeons after 2 years. Clearly, they just arent cut out for it and the whole 'medicine' thing is just a hobby..

__________________
When you have to shoot, shoot. Dont talk.
Reply With Quote
  #69880  
Old Jul 27, 2010 8:25pm
joelcf's Avatar
My gun control is a steady hand.
 
Member Since Jun 2009
More than 10 Vouchers  662 Posts
Default

Quote:
Originally Posted by supremeChaos View Post
Sir jopollin comes in & post his thoughts.. i was eager to listen & sort of waiting for what he has to say... but i personally didnt hear anything new/surprising. am i correct?
jopollin, what's next, Sir? i mean is that it? have u made your point?
this is a sincere, humble question.
lol. I suspect he collected enough 'plz tell me secret PA system thx' PMs and moved on to spam elsewhere.

It's a pity he didnt hang around. His amateurish intepretation of market dynamics (weird wicks = rejection!) and brand new, never heard of system (watch for a hard break...hrm, where have I heard that before?) could have completely revolutionised the way we all trade
__________________
When you have to shoot, shoot. Dont talk.
Reply With Quote
  #70400  
Old Aug 2, 2010 10:27pm
joelcf's Avatar
My gun control is a steady hand.
 
Member Since Jun 2009
More than 10 Vouchers  662 Posts
Default

Quote:
Originally Posted by supremeChaos View Post
i hope u are aware that harmonic patterns do not always work. any way, that is beyond the scope of this thread.
By 'not always', I think you mean 'very rarely, and are so subjective that you can only pick them in hindsight'

Quote:
Originally Posted by jarroo View Post
Great post from joel, but then again, he doesn't have any bad ones . . .Lady Gaga. lol
lol, how embarassing That could have been shortened to 'do whatever you are comfortable with, just have a plan'.
__________________
When you have to shoot, shoot. Dont talk.
Reply With Quote
  #70402  
Old Aug 2, 2010 10:41pm
joelcf's Avatar
My gun control is a steady hand.
 
Member Since Jun 2009
More than 10 Vouchers  662 Posts
Default

Quote:
Originally Posted by Autumm View Post
Hi Supreme,

I am looking towards testing out and finding which is comfortable for me. However what i am looking for are some guidelines which i can start off with and tweaking it to suit me.

From your comments i gather that if it is a A+ trade, i could probably use the end of the bar as the stoploss so as to give it a bigger room to run while a less than perfect trade could use a tighter stop. eg the eye of the bar?
Why would you want to take a less than perfect trade?

And, even if you did, you are just increasing the probability that you will be stopped out by using a shorter stop. I'd be more comfortable using a closer stop when the setup is higher quality, since you are infinitely more likely to get a jaoor-'hard break' of the bar, rather than retracement and loitering.
__________________
When you have to shoot, shoot. Dont talk.
Reply With Quote
  #70405  
Old Aug 2, 2010 11:08pm
joelcf's Avatar
My gun control is a steady hand.
 
Member Since Jun 2009
More than 10 Vouchers  662 Posts
Default

Quote:
Originally Posted by Autumm View Post
i have seen many less than perfect trades(A+) do their thing by knowing where the FTA are and managing it appropriately and i would love to be able to trade them.
But does that make them less than perfect, or does it just make them a different kind of trade?

I separate 'potential runner' trades from 'hit FTA, take profit' trades and plan accordingly.... they are almost different species. The problems come when we try and view all trades as homogenous, which can lead to an approach where you have a quick CT trade but you end up 'giving it room' because that's your overall approach... and so a winner turns into a loser.

Also, I tend to overcomplicate things

But, as SC said, horses for courses and all that.
__________________
When you have to shoot, shoot. Dont talk.
Reply With Quote
  #70411  
Old Aug 3, 2010 2:08am
joelcf's Avatar
My gun control is a steady hand.
 
Member Since Jun 2009
More than 10 Vouchers  662 Posts
Default

Quote:
Originally Posted by fxterrapin View Post
But not like before 2007. Mostly chop on the dailies.
Esp. Those pins on E/U. Those were easy game right before the deleveraging of 2008 took place. Somehow we never really returned to those smooth trends.
Financials have been slop since the GFC.
And Tech stocks have never trended the same since the crash of 2000.
And fx has been dead since the AFC of 1997.
And bonds have been choppy since October 1987.
And the Hunt brothers ruined commodities in 79.
And equities have been untradeable Black Thursday, 1929.
And there havent been any decent foreign markets since the South Sea Bubble in 1720.
And breakouts in the flower market were destroyed Tulip Wreck of 1637

(and, for the obscurists, I cant believe those government jerks took away the most profitable commodity market from us in the 1950s....)
__________________
When you have to shoot, shoot. Dont talk.
Reply With Quote
  #70414  
Old Aug 3, 2010 2:33am
joelcf's Avatar
My gun control is a steady hand.
 
Member Since Jun 2009
More than 10 Vouchers  662 Posts
Default

Quote:
Originally Posted by TheMaxx View Post
Too obscure for me... any hints?
http://en.wikipedia.org/wiki/Onion_Futures_Act
__________________
When you have to shoot, shoot. Dont talk.
Reply With Quote
  #70500  
Old Aug 3, 2010 8:39pm
joelcf's Avatar
My gun control is a steady hand.
 
Member Since Jun 2009
More than 10 Vouchers  662 Posts
Default

Quote:
Originally Posted by cprao View Post
Ad, Which trading software/broker is this ?
TD Ameritrade implementation of the thinkorswim package.

As endorsed by ADA Jack McCoy.
__________________
When you have to shoot, shoot. Dont talk.
Reply With Quote
Reply

23 Traders Viewing This Thread (12 are members)
kennyg, cprao, mikespips, malo, albinas, bluetrader, erikte279, Pinbar, 4xkiwi, Benevolent, nwo-trader, diggsnoob
Thread Tools Search this Thread
Search this Thread:

Advanced Search


Similar Threads
Thread Thread Starter Forum Replies Last Post
Trend Trading Chart Thread DanUK Interactive Trading 2121 Sep 6, 2010 4:31pm (6 hr ago)
PDF of james16 thread? Gasmeter Rookie Discussion 4 Jun 4, 2010 8:07am