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  #72124  
Old Aug 18, 2010 9:32pm
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Quote:
Originally Posted by The Lord View Post
Attachment 528703

Somebody please show me my mistake with this. I took this yesterday right off the BRN, a nice support and a good length pinbar. I couldn't move to break even since it was too early (not much pips). I am really not finding any mistake to learn from. I must figure out my mistake or I will repeat it next time.
Taking a trade so close to a swing high is always going to lack space (this is precisely why trades down at the 50/61.8 fib rock). This one still went on to hit the FTA. A BE (or better still a pass) was on if you ask me.

g.
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  #72128  
Old Aug 18, 2010 9:43pm
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Originally Posted by joelcf View Post
Easy.
Couldn't have been said better.
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  #72299  
Old Aug 20, 2010 3:28am
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Quote:
Originally Posted by Pinbar View Post
Oh, I thought you were referring to the analysis!

The back, it has been horribly hot here these last few days with almost 40c temps and 80% humidity. Even at midnight the temps were like 34C.
So, on Tuesday night, I slept right in front of the air conditioning, I got up in the morning and had this horrible pain between my shoulder blades, like a toothache type pain, breathing was hard because of the pain.

My wife did some Chinese stuff on it but the pain still lingered, at last today it has sorted itself out.

Must have got a chill in my...
Wasn't this the hottest year on record for the globe? I read that somewhere...

Anyways, I don't live in Alaska either. I know how it feels when the temps pop above 40C and no I don't sleep in front of the air conditioner, in fact I don't have it installed in my room. I've opted for super ventilation through 2 huge windows and a fan does the job of keeping the sweat and the horrible mosquitoes away.

Stay cool Pb.

g.
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  #72421  
Old Aug 21, 2010 12:26pm
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Quote:
Originally Posted by Atc View Post
any insight to IPB wkly ?

would be interested in your comments on EUR/GBP wkly

kindly,

Bill
Hey ATC,

I am looking at the more significant area near the 8000 BRN rather than those 2 bar highs, and this leaves me with a gut feeling that the bears may not have had their complete fun just yet.

I am looking at a long term up trend that entered into a wedge and only recently price broke out of it. It has since been giving lower lows and lower highs and and developing into a decent down trend.

Looking at the IPB itself, you gotta feel a bullish close would have been so much better, as it is now it feels more - like Adilius said - an IBish bar that is looking to break to the down side and test that last swing low price made (low of the pin bar near the 8000)

Again for IPBs specially the over all "mood" of the pair is of immense importance to me and I try and look beyond a single trigger bar and how sexy or ugly it looks.

As I see it price seems dearly interested in hitting that top of the consolidation box range which is roughly the the BRN area.

Just my 2 cents and how I look at the setup.

g.
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  #72468  
Old Aug 22, 2010 8:22am
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Originally Posted by novice198 View Post
Hi Ghous,
I am confused now when you say that this was A+ setup. The PB low was 82.65 and if we keep a 5 pip buffer the entry would be 82.60 and FTA at 82.46. That is 14 pips profit including the spread for a risk of about 45 pips (SL @ 83.05).
Am I missing something here

Cheers
Novice 198
hey N,

It got the A+ badge from me because of it's size, the fact that the nose was protruding away from the vicinity of price action, the fact that it was with the down trend, the fact that it was off the 61.8 fib of the (until then) recent swing, the fact that it broke very hard, the fact that it blew through your 82.46 like butter and because of the fact that it went on to hit the area one should have expected it to make it to.

oooh and did i mention the 83 BRN?

g.
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  #72470  
Old Aug 22, 2010 8:25am
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Quote:
Originally Posted by jarroo View Post
Not trading for living just yet but plan to.

Believe it or not . . .trading , reading charts, analyzing charts, etc . .actually relaxes me. Plus its a whole lot of fun. . . that wasn't always the case . . lol
oh man, this is a real shocker for me! You don't do this full time?! Don't get me wrong the shocking I guess comes from the fact that despite the day job you squeeze out so much of your time to push through your price less lessons???

Something is really weird about the guys here at this thread...something really weird in the good sense of the word.

g.
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  #72475  
Old Aug 22, 2010 8:54am
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Quote:
Originally Posted by xmzhang View Post
Good afternoon Ghous,
I've drawn another PPZ in your chart which was closer to your entry point, why didn't you take this one into consideration ?
That's the 42.6 FTA novice was talking about, it was the FTA true and it was on my mind for sure, but then like I mentioned in the previous post price did break through the FTA like butter.

Let's take a closer look at the "broke through like butter phenomena":

Below is a chart that shows the action on the 5 minute. The first red line is the entry point, the other lower one is the 42.6 area that you guys are talking about.

A very obvious characteristic of an A+ setup is that it normally get's backed up by decent order flow - i.e it breaks hard the jarroo way!

There were a good 15 pips to the FTA and even a stop to BE at FTA would still have escorted your trade to the next trouble area which price bounced off and which was also the major trouble area.



g.
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  #72477  
Old Aug 22, 2010 9:06am
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Originally Posted by xmzhang View Post
Great explanation. So you didn't move your stop to BE when price reached the 4260 PPZ ?
If you go back and check i actually was a touch late on the trade, by the time I got to see the pin bar it had already broken and was whistling away to the FTA...I could only watch this beauty unfold from the side lines.

but like I suggested it was one of those sweet cherries that had something on offer for both the conservative as well as the slightly aggressive traders.

g.
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  #72481  
Old Aug 22, 2010 10:29am
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Originally Posted by xmzhang View Post
Another question about this "hard break" of an FTA. So this means a high momentum bar (large green/red bar) cutting through the FTA "like butter" perceived on a much lower TF (ie. the 15m, 5m or even the 1m TF) ? What I understand until now is that a hard break of the FTA contributes to high probability that the trade on the higher TF will eventually succeed or at least to BE.

May the force be with you,
Yes exactly! When price cuts through PPzs easily it's always a strong indication of the how great the PA setup is.

g.
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  #72490  
Old Aug 22, 2010 12:12pm
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Originally Posted by novice198 View Post
Hi Ghous,

Thanks for your answer, however, it did not answer the basic question as to what made you ignore the FTA of 82.46. That fact that it pierced through this FTA is all an after thought and in hindsight. At the time of placing the trade at 82.60 NO ONE can state with certainty that it will cut through the FTA like a hot knife through butter.
Your other posts explaining that PA stalled at FTA for 20 mins, also means that it could have reversed and head north.
Agree with you that the only way this setup could be played was to move...
I respect your insight N,

What's A+ for one trader may not be A+ for another.

g.
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  #72529  
Old Aug 23, 2010 4:44am
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Quote:
Originally Posted by dfumagalli View Post
Please excuse me, could I pretty please ask you experienced guys a BIG favor?
My English is quite mediocre, despite having seen texts and pictures about entering a pin trade I just don't get how the pieces snap together.
Could you post a picture with dumb-brain compatible text like this?
<picture> with the various parts of 1 ear + pin + 2nd ear.
Numbered sequence of how to enter, with numbers ALSO on the picture with an arrow pointing at the price to enter, like this:
1) First wait for pin bar to go here
2) Wait for price to come back up (or something)
3)...
Hey there,

Did you go through the videos on the guest side of the James16 PF?

We have some great introductory videos from the big guys there:

Take a look, and let us know if they weren't sufficient enough

videos

g.
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  #72550  
Old Aug 23, 2010 10:38am
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Quote:
Originally Posted by novice198 View Post
Hi Ghous,

I can understand when a newbie like me says that a particular trade setup is A+ and the seniors downgrade it to A / B or maybe C. If you say that the last setup as A+ then I better believe that as you are making money (real plus demo) and not me.

Cheers
Novice 198
That kind of a thought process is the last thing you want to be having N,

Nobody is completely right or completely wrong when it comes grading trade setups. Like I said it was more than ok that you felt the cad/Yen setup was not A+, what is not ok is to kill that gut feeling because somebody who's been posting at the J16 thread for some time thinks otherwise.



g.
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  #72552  
Old Aug 23, 2010 10:46am
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Quote:
Originally Posted by dfumagalli View Post
I watched them with great satisfaction and indeed learned a TON. But still, maybe because I just don't understand what they say well enough, I am still at a loss about the precise temporal sequence of placing a pin trade in action. A step by step approach, ie "place limit (or stop? Boh) order HERE but only after THIS and THAT" happened.
Mike is one of those few blessed people who can put anything in the most simplistic way possible, but since you are still wondering about entries and exits and how to choose your trades, here's a quick video I did for you.

Let me know if this was worth anything,

Doing charts obviously takes less time but I understand your willingness to let visuals help you as you not at home with English.

Language sure shouldn't come in between you and your learning of the J16 stuff.

EDIT: and there comes Mike again with a simple chart with 2 lines that should do the trick, but I'll post the video anyway

video

g.
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  #72576  
Old Aug 23, 2010 2:33pm
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Quote:
Originally Posted by Adilius07 View Post
You know... even when you take a PB in some weak location , but as a PB it is still nice looking - most of the time it WILL STILL BE A WINNER.
I went through so many charts. (Daily) Looks so!!!

So, ahhh location seems as a secondary aspect of importance....
Depends on how you are looking at the whole thing Ad,

A great looking pin bar like you discovered is normally very good to the FTA, but then a whole bunch of folks here want to to be taking trades that they expect will turn out to be big runners because the bar looks sooo strong...and that's where the catch is, if you're not only interested in seeing the FTA hit location and spatial concerns get into the equation big time.

Ever wondered why James suggests that ranging markets rock? It's not because you can take a pin bar and ride it for 6R but because you get many opportunities where things look great for a clear shot to nearby FTA .

good observation Ad. And then you want to say you are getting nowhere with this stuff?

g.
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  #72588  
Old Aug 23, 2010 9:27pm
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Originally Posted by Pinbar View Post
Wooooow, Thanks for that video Ghous.

Watching how you explained it so simply, really brings it home, especially the Space factor which I was still a little confused about.
The video also oozes confidence, what a great learning tool for new people.
Great job Ghous.




I'd like to put a link to it in my journal, so that I can remind myself of just how simple it should be done, if that is ok with you?
Sure pb.

g.
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  #72591  
Old Aug 23, 2010 9:59pm
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Quote:
Originally Posted by KissFan View Post
Very well done Ghous!

K.I.S.S.
Hey Roger,

We got 2 opposing pins on Nu daily,

Is your fib strike at work there?

g.
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  #72593  
Old Aug 23, 2010 10:08pm
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The power of confluence.

This is not a bearish outside bar, the bar you see before the trigger bar is a Sunday bar on IBFX which is best ignored. It is rather a BEB off the 150, 83.00, 61.8 and the 3rd touch of the TL.

g.
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  #72599  
Old Aug 24, 2010 1:55am
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Originally Posted by dfumagalli View Post
It does, but it's something I figured out by reading the other docs.
What I needed was to know when (not where) to put the stop loss and the buy stop.
IE do I wait for the pin to be fully formed before I put the stop loss? IE do I wait till it retraces up to its top and then put the stop loss? Do I put the buy stop while I still just see the pin or after the right ear starts forming?
I know this is dumb off mine, but so far I always used another trading system where once I spot certain parameters all I have to do is to create a bracket order during...

It's got to be in the air D,

The extra ordinary help I got in learning this stuff is why I am where I am and doing what I am doing.

I wish you all the best, and again do not hesitate to ask for anything you need.

g.
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  #72606  
Old Aug 24, 2010 4:12am
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stop to BE.

Doesn't get any simpler

g.
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  #72610  
Old Aug 24, 2010 4:35am
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Quote:
Originally Posted by geomink View Post
Stopped
Hey G,

You were trading into a swing high and obviously the 9000 round number and the adjoining price pivot zone which price bounced off.

Adilius' post from yesterday just popped back into my mind as I type this post. "Good looking pins will normally always hit their FTAs" - this one wasn't an exception.

It takes time to understand the potential of a particularly shaped PA bar at a particular location with a particular degree of space available for the trade to breathe in. with this understanding come the right trade management decisions.

Hang in there Geo, scrap this one for the lessons and move on

g.
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  #72613  
Old Aug 24, 2010 4:45am
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Quote:
Originally Posted by dfumagalli View Post
Still in learning mode: I was looking at this interesting graph. Dear Wise Gurus, let's debug my brain.

What I see "at skin feeling" is half of an head and shoulders formation, expecially since 1.0556 there's a fibo retracement and a long time resistance.

I suppose I still have to check whether the next bars are bullish or bearish, because in the end the market goes where it wants, no way my "head and shoulders" is a set in stone truth, that would be presumptuous of me and would also automatically lock me out of 50% of the possible outcomes....
I suppose I still have to check whether the next bars are bullish or bearish, because in the end the market goes where it wants, no way my "head and shoulders" is a set in stone truth, that would be presumptuous of me and would also automatically lock me out of 50% of the possible outcomes.

The right way to go about it for sure. Blinding yourself with a bias is not what you want to be doing.

If I spot a strong bullish reaction (I know, it's unlikely), I wait for a retracement over that 1.0556 line, put a SL 15 pips below it (10 pips would be too close to round number 1.0550, which could be tested) and therefore I must also see 15 * 2 (or *3, *4...) possible take profit target.
This take profit looks possible at big round number 1.0600. I'll put a limit or stop buy order at 1.0562 (is it enough room to weed off the noise?). If I set a take profit at a worst case scenario of 1.0595 (to be sure it'll be tagged) it's 15 pips risk vs 33 pips gain. That would mean that I am ok taking that trade.


Ok it seems you're in some mood to blind trade at the 1.0550, that is you want to be placing an entry at a retrace of this level without actually waiting for PA. Not a wise thing to do. Since it's early days for in your J16 learning you are recommended to wait for PA bars at good locations (just like I said in that video).

Secondly you are completely mistaken on the R:R thing. Warren Buffet suggests: "Risk comes from not knowing what you are doing" it has nothing to do with how much you are risking versus how much you are getting in return. Ask yourself this: Would you be willing to take a trade that offers 5 times the initial risk but has a lesser probability/chance of making it to 5R over another trade that offers only 0.5 times the money you risk but has a very high chance of making it to 0.5R?

hence a 15 pip stop for a 33 pip TP should never be the driving force behind your trade decisions. Obviously a good R:R is always sweet but like I said it is "probability" that matter more.

***------***

Just a few points I wanted to clarify for you D

g.
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  #72625  
Old Aug 24, 2010 5:25am
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Quote:
Originally Posted by Pinbar View Post
Ghous....Is the 2 pip margin valid in a BEOB or does it invalidate this bar.
Because we are not talking about a DBLHC there is no point talking about 2 pip differences in the lows of 2 bars one of which is supposed to be a BEOB.

Technically speaking that's no trade for me even if we had a BEOB low 2 pips below the low of the previous bar. A close below the highlighted PPZ would have made it look much better IMHO.

g.
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  #72626  
Old Aug 24, 2010 5:27am
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Originally Posted by The Lord View Post
Wow, nice pick. How many pips were your initial stop loss sir?
130 points.
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  #72627  
Old Aug 24, 2010 5:30am
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Originally Posted by DTaylor View Post
Hi Everybody, the USD/CAD looks like its in a nice place at the minute, seems to be a long standing PPZ in this area, also just unbder the BRN 1.0600.

Is this a BEOB on the attached chart? or does the main body of the candle need to engulf the main body of the previous.

If it is would this be a good place to trade the retrace of the bar, with a SL at around 1.061, and a 1st Tp at about 1.0520, above the prior resistance?

What does everyone think? does this make any sense, any comments much appreciated, cheers.
By definition that's a BEOB yes, but again a pretty poor shape, you gotta like the ones with a real long nose at one end protruding away from a decent sized body and a strong close at the other end of the bar.

g.
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IPBs are advanced PA setups and my sincere request to all newbies is to stay away from them until you know the basics like the back of your hand - TRADE SAFELY AND WISELY!
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  #72636  
Old Aug 24, 2010 8:13am
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Quote:
Originally Posted by Forex Girl View Post
Hello friends,

After a journey on several threads in the forex factory, I found on the PA a strong and clear system . I have studied for six months. I'm in forex for 2 years. Regarding many of you, I'm a baby .... I hope to learn with you, guys.
I?m sorry about the english, I?m brazilian.

Thank you
Hi Fx girl,

Nice to have you with the group

g.
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IPBs are advanced PA setups and my sincere request to all newbies is to stay away from them until you know the basics like the back of your hand - TRADE SAFELY AND WISELY!
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  #72638  
Old Aug 24, 2010 8:18am
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Default video

I wasn't expecting so many spectators for the video, my 2 GB bandwidth storage capacity is about filled up to the brim at screen cast, which means a few more views and the video cannot no longer be accessed.

I tried you tube but the uploaded video's quality sucks.

Anybody knows of a good video hosting website (free)?

g.
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  #72639  
Old Aug 24, 2010 8:22am
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Originally Posted by Adilius07 View Post
Another thought crossed my mind today. If we learn to be SUPER PICKY. I mean like picky to the point we only take just one setup per month or so. The one that meets all our criteria.... then, why don't we trade say 5-7% of total account? Even if RR is 1:1 or little less, that trade would make a very, very nice monthly % growth. And knowing all we need is just 1 trade, it is easier to become and stay picky...

I mean, when we have a MM of 1% or 2% isn't it puts us into more pressure to trade more, so we can make "better income" and the result...
I have never gone beyond 2% but from what I know 5% is mentally stressful but then like you said if it's for 1 slam dunk (only on the higher tfs maybe) - the Benji/Mike setup - a month it could work out for you Ad,

MM is one area that has no boundaries, anything and everything that fits into your trading style and mentality should be fine. Of course you'll have to do your demoing and forward testing first before you go live with it

g.
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  #72646  
Old Aug 24, 2010 8:47am
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Quote:
Originally Posted by mattfx View Post
Hi Ghous,

Sorry to interrupt yet I think you have produced some quality forex video material, and you may need to consider commercial applications...hate to say it, my friend...?
Oh yeah that sure sounds cool,

I was thinking of setting up a video blog - $69.99 for non J16ers, $49.99 if you have more than 200 posts at the J16 thread - cool deal eh?

Seriously though commercial's not me, and I feel sick to to the stomach when I think about affiliating teaching with money.

I want to get to the point where trading alone makes me all the money I need, and passing on stuff I have come to understand, is a great way for me to get there.

g.
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  #72647  
Old Aug 24, 2010 8:51am
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Nice and smooth is how I love'em.

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  #72653  
Old Aug 24, 2010 9:09am
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Quote:
Originally Posted by mihazupan1 View Post
Great pull man

As for the videos: I think uploading on Youtube would be the best idea Is the quality bad even in higher quality settings (360p or 480p)?
Thing is the produced Camtasia video is getting really blurred, when I upload it at youtube, but I am now uploading a video with the original size (more than twice the size of the produced video) to see if that solves the problem. if it does I'll have to do the whole video again because I deleted the original screen capture when i produced it.

we'll see...

g.
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  #72656  
Old Aug 24, 2010 9:14am
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Quote:
Originally Posted by Adilius07 View Post
If you do so, maybe you could choose a different example from past which you consider A+? that would be fantastic!
lolol
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  #72659  
Old Aug 24, 2010 9:18am
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Quote:
Originally Posted by spookie94 View Post
Nice trade G. I heard many seniors say ignore the Sunday bar. Is there something that caught your eye on this one to pull the trigger?
The confluence and the strong close on the BEB.

g.
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  #72668  
Old Aug 24, 2010 10:30am
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Here's the video uploaded on youtube.

Let me know if the quality is bearable.



g.
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Last edited by ghous, Aug 24, 2010 10:57am
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  #72672  
Old Aug 24, 2010 10:52am
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Quote:
Originally Posted by Fxfighter View Post
Thanks Ghous,
great video as many people said before .
Right then that's great.

Hey Adilius, if I get time I'll do one more A+ trade setup for you, but can't promise.

g.
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  #72673  
Old Aug 24, 2010 10:54am
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Quote:
Originally Posted by artov View Post
I'm pretty sure Jarroo would call that a hard break. I put my pending order, turned away to another screen and boom. Turning my SL to BE very soon and targeting 1.03
Great stuff Artov!

g.
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  #72693  
Old Aug 24, 2010 2:22pm
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Quote:
Originally Posted by Ace284 View Post
Profit target hit while I was sleeping. Great example of confluence. Doesn't get any easier....
Wow that works Ace thanks a lot and great videos of course!

g.
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  #72892  
Old Aug 26, 2010 5:59am
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Quote:
Originally Posted by Atc View Post
Aside from location and other confluences, would you trade a 4H PB even though the daily PB has or has not reached its' target(s) ???

....that is in the opposite direction on a lower TF...hope this is clear...

Thanks,
Bill
Higher time frame PA rules Atc, but I for one like to keep my time frames separate, which means that normally higher time frame PA isn't an intra day trade maker/breaker for me, unless we have something A-plussy going on at the highers.

Most of the xxx/CHF bars have probably done their thing - including CAD/CHF. It was a small pin bar against a huge trend and to make it to the point where we have the 4H pin bar is in my opinion quite a job for this bar. (asking for it to hit those 2 bar lows at 9844 is in my opinion a little too much to ask for again given that in anticipating something like that we're trying to catch a falling knife.)

g.
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  #72924  
Old Aug 26, 2010 8:47am
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Quote:
Originally Posted by weiqianjun View Post
Hello, ghous,Can you tell me where the average line can download,Thank you
which avg line?

g.
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  #73055  
Old Aug 27, 2010 1:50pm
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Quote:
Originally Posted by Dan Gilbert View Post
Funny thing is, there have been a few this past month that I haven't touched because they didn't look flawless, but all of them have worked lol....

someday I will be a wizard!
You probably are one Dan

That I4B potion with "Dan prescriptions" sure looks a solid magical drink

g.
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  #73074  
Old Aug 27, 2010 8:19pm
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Default ECL IPB

Since Aserb's been throwing in some non fx instruments into the the mix thought I'd just go ahead and update you guys on the ECL weekly IPB Adilius mentioned.

Nothing wrong with him taking full profit at FTA but like you would expect of a nice long IPB the journey to the low was made well enough. (notice the bounce off the low of the IPB - that longer end of the wick has always served a great take profit area for me)

g.
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  #73075  
Old Aug 27, 2010 8:32pm
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Quote:
Originally Posted by Ace284 View Post
I made a video as I traded this setup live. Just posted it. Appreciate it if you guys check it out! Its a step by step live trade example. It's a mix of PA trading and confluence.

http://www.youtube.com/watch?v=rGSYf6nsPCA
I like the way you use your TLs and J16 ppzs to arrive at the "area of interest" nice concept, and a nicer video. Thnx a lot bud for sharing

g.
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  #73088  
Old Aug 28, 2010 1:33am
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Quote:
Originally Posted by roundrock View Post
yet another pin on jpy,
Hey Round rock,

Most of those pins are pathetically located and/or poorly shaped, for me the only bars that actually caught a bit of my attention were Ej and Uj for very simple reasons - they are both at a swing low. They also come with some divergence although these are no trades for me as when I trade off extreme swing points I like the bars to be really good sized and those pins are pretty ordinary looking.

Coming to the poor setups:

Gbp/Jpy: Caught up in a real tight triangle and heading straight into some horrible traffic. Can price use this pin bar to actually break out of the triangle? Sure it can but that's not what I'll be betting on with my money. I have been taught to to look at big bars at bigger location with biggest of empty spaces to be trading into. The fact that most of these bars "are off a RN" isn't the only thing that should sanction these setups - in my book at least.

Aud/Jpy: Again too close to a clutch of bar highs and lows and also to a swing high. Remember those posts of J16 where he advocated the existence of PA setups deep into pull backs at 50/61.8 fib rets? Trading away from swing points is one thing, trading right in to them is another.

Aud/Chf: Same cons as Aud/Jpy. Only that a poor close to the bar should be added to the list.

g.
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  #73228  
Old Aug 29, 2010 8:14pm
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Quote:
Originally Posted by michal7 View Post
Maybe if someone is interested, I'm gonna share how my trading is going... I found interest in trading at the end of 2008... found j16 thread/method in november 2009... stutied a lot.....
Wow!

All beginners out there, this is precisely what you need to be doing - searching for consistency with realistic targets and a strong control over the "get rich quick thoughts" so you don't end up taking 19 trades a week including 16 loosers, unlike Micheal here.

Great job bud!

g.
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  #73319  
Old Aug 30, 2010 10:25am
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took these 2 quick guns on the Cad crosses.

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  #73329  
Old Aug 30, 2010 12:49pm
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Quote:
Originally Posted by geomink View Post
Long weekly pin G/J

Only 250 pips loss by now
Hey G,

It's important to understand that you are trading right in the middle of pointless, dead consolidation. Clearly price is winding up nicely and if anything, I feel a trade taken away - at a breakout either ways is your best bet.

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  #73330  
Old Aug 30, 2010 12:57pm
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Quote:
Originally Posted by Ace284 View Post
Yes, psychology is important. What I was saying is, you don't achieve anything by just blaming your loss on greed. If you were to say that my trade failed because it hit an important area of Support or resistance or a major price pattern was formed in the middle of the trade which wiped out a lot of the unrealized profit then it would be valid.

If you just say, well I was greedy. That doesn't help you or anyone in the future. Next time someone will take a similar trade, get out early and then complain about the fact that they could...
I think to get to the stage where "none of it is your fault" takes time. Until then IMHO it is fine to blame your emotions for intervening and disrupting an otherwise perfect trade management plan "which would have worked out" - IF you honestly feel they have interfered.

Emotions do get the better of everyone at the early stages and to live in an illusion that they are not responsible for the losses/mismanaged trades IMO will actually get you into a hole you'll never be able to dig out from because essentially "there is nothing wrong with the mentality and everything that went wrong was on the charts" Yikes!

g.
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  #73360  
Old Aug 30, 2010 8:57pm
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I have been watching out for these Ace - Your "area of interest"

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  #73398  
Old Aug 31, 2010 6:05am
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Quote:
Originally Posted by premierpip View Post
@supremechaos

means that i dont have to use a volume indicator to confuse myself any further? because the size of the bar does all the saying about volume?
The volumes you see on Mt4 are basically just calculations of tick movements per period. So every bar that you see on that indi is a calculation of the number of pip movements that price underwent in that period.

It obviously is up to you if you want that indi on but really all the volatility indications you need can be seen on the charts and in your price bars (big bars, whippy price action are all examples of high volatility)

g.
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  #73401  
Old Aug 31, 2010 6:15am
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Here's a trade I took on Gu this morning recorded this too for all the good souls here

(don't forget to hit the 730p HD button)

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  #73432  
Old Aug 31, 2010 8:59am
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Quote:
Originally Posted by The Lord View Post
Nice trade sir.

Just a question.. Did you take the consideration of the 3-day pinbar as well? I mean, you might have that in your mind while you were in the lower timeframe.

Attachment 536002
Hey Lord,

No I didn't take that 3 day pin bar into consideration, in fact it wasn't a pin bar at all.

What a whole lot of people forget to do is to also group the bars prior to the one in consideration. So in this case if you're grouping those three bars to form a pin bar, then you also need to go back and group the other 3 bars which would form the bar before our pin bar on the 3 day chart.

As I see it you're then just talking about a 3 day inside bar that broke to the down side...but like I said I didn't look at that consolidation box as anything other then just that.

g.
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  #73464  
Old Aug 31, 2010 4:34pm
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Quote:
Originally Posted by Dan-FX View Post
Still trading demo and after the first week of this month only been able to trade daily+ time-frames due to work....
Wow!

If only I had gotten the hang of this stuff as soon as some of you here.

Amazing progress!

g.
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