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james16 Chart Thread
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Jul 19, 2010 8:32am
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My gun control is a steady hand.
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Quote:
Originally Posted by Pinbar
Either of these
Although, I think we can disregard the small bump.
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MACD 'divergence' on a single bar? hrm.
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When you have to shoot, shoot. Dont talk.
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Jul 21, 2010 1:17am
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My gun control is a steady hand.
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Quote:
Originally Posted by Pipage
Im dreaming of the day when i can play a 1.0 lot.
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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.
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Jul 21, 2010 11:16pm
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My gun control is a steady hand.
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Quote:
Originally Posted by deltatrade
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?
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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
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.
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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
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
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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
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Jul 21, 2010 11:24pm
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My gun control is a steady hand.
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Quote:
Originally Posted by ghous
Less neater than the one which occured a little earlier, but tradable IMO with tight management. 
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For me, this is the best trade on the whole chart. Tiny risk, huge reward.

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When you have to shoot, shoot. Dont talk.
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Jul 21, 2010 11:29pm
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My gun control is a steady hand.
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Quote:
Originally Posted by Dan Gilbert
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.
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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
it's not like you can "exploit" those who use PA....
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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.
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When you have to shoot, shoot. Dont talk.
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Jul 22, 2010 6:46am
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My gun control is a steady hand.
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Quote:
Originally Posted by mbqb11
I feel Joel and I could have many a beers together
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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
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Jul 22, 2010 9:50am
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My gun control is a steady hand.
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Quote:
Originally Posted by ppfx
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...
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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.
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Jul 22, 2010 6:23pm
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My gun control is a steady hand.
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Quote:
Originally Posted by six gun
"... My legislation would simply impose a small tax — of 0.005 percent — on these currency transactions. ..."
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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.
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'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
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Jul 26, 2010 9:35pm
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My gun control is a steady hand.
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Quote:
Originally Posted by Adilius07
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...
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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.
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Jul 27, 2010 8:25pm
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My gun control is a steady hand.
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Quote:
Originally Posted by supremeChaos
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.
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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.
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Aug 2, 2010 10:27pm
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My gun control is a steady hand.
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Quote:
Originally Posted by supremeChaos
i hope u are aware that harmonic patterns do not always work. any way, that is beyond the scope of this thread. 
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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
Great post from joel, but then again, he doesn't have any bad ones . . .Lady Gaga. lol
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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.
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Aug 2, 2010 10:41pm
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My gun control is a steady hand.
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Quote:
Originally Posted by Autumm
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?
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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.
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When you have to shoot, shoot. Dont talk.
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Aug 2, 2010 11:08pm
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My gun control is a steady hand.
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Quote:
Originally Posted by Autumm
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.
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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.
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Aug 3, 2010 2:08am
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My gun control is a steady hand.
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Quote:
Originally Posted by fxterrapin
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.
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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....)
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When you have to shoot, shoot. Dont talk.
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Aug 3, 2010 8:39pm
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My gun control is a steady hand.
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Quote:
Originally Posted by cprao
Ad, Which trading software/broker is this ?
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TD Ameritrade implementation of the thinkorswim package.
As endorsed by ADA Jack McCoy.
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When you have to shoot, shoot. Dont talk.
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23 Traders Viewing This Thread (12 are members)
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kennyg, cprao, mikespips, malo, albinas, bluetrader, erikte279, Pinbar, 4xkiwi, Benevolent, nwo-trader, diggsnoob
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