eur/jpy : 3 confluence : S/R line, 68% Fib line and trend line..... Long target 117.00
Good, medium. What kind of trade would you rate this.
Good, medium. What kind of trade would you rate this.
Dr. C
Where can I learn more about Price Action like those in James16 charts? 9 replies
Dislikedyes I have a Forum indicator that alerts me when bar closes, if posts per minute increase by X% over the 150day MA of posts it goes offIgnored
DislikedDo you guys just trade off the daily charts?
I got some intraday play today for 350 pips even and got 7 trades still going and looking pretty good. Just trying to scalp 20 here, 50 there.....
Then i come here to read and do my homework!Ignored
DislikedI trade mainly weekly and daily charts with the occasional dabble off the 4hr and thats it....
I guess it boils down to your own individual makeup but I can't think of anything worse than staring at charts for hour after hourIgnored
DislikedEspecially for us Aussies.
I've learnt to feel 'slow' days pretty well ahead of time, but staying up past midnight to trade the NY session every night smells suspiciously like social suicide. ...I'll trade it when I feel like it and conditions are good, but that's it.Ignored
DislikedI guess it boils down to your own individual makeup but I can't think of anything worse than staring at charts for hour after hourIgnored
Dislikedif you trade for a living i bet youd rather do that then sit in a cubicle for 8-10 hrs somewhere....Ignored
DislikedI go weeks without daily trades. Stick to 1 and 2 and you will become consistently profitable
-MikeIgnored
DislikedWith a boss breathing down your neck, working on crap you don't care about, working extra time and not getting paid because you are salary.
All of it equals...
10 years of this horrible prison-like sentence, and if you live cheap, refuse to enjoy life, save every penny and invest as diversly as possible then...
You are still behind a retirement by 65 schedule.
Thank god for this forum, thank god for this thread, and thank god for James and all the old guys that come here to help. I may never get it down, but the hope of someday getting it...Ignored
Dislikedif you trade for a living i bet youd rather do that then sit in a cubicle for 8-10 hrs somewhere....Ignored
Dislikedyep they do
Most people get stuck in the 2 steps forward(with an A+ trade), then 3 steps back(with the B and C trades). Thus you feel as if you are chasing your tail and end up somewhere around breakeven. This is still a good sign to get to this point, but IMO to get past this breakeven level we have to shake that "need to trade" feel. And do the right thingIgnored
DislikedYeah sorta like in poker, you do win that way but you take much longer to get a big bankroll.Ignored
DislikedI trade mainly weekly and daily charts with the occasional dabble off the 4hr and thats it....
I guess it boils down to your own individual makeup but I can't think of anything worse than staring at charts for hour after hourIgnored
Disliked(Sorry I can't post a chart)
One thing I look for when I enter a trade off a good PA setup, and I believe this 4 Hour Usd/Chf BEOB off a Daily PPZ was a good setup.
Did it break on the next bar? Yes it did.
Was the break hard/fast and keep running? Not really, it broke downwards about 20 pips and then immediately started running the other way (upwards).
I would have probably cut this one loose for a small loss. Or stopped it out at break even.
A good confirmation is that when Price breaks, on the next bar, it should run for a good amount...Ignored
DislikedBut if you can trade properly and have the necessary capital you have a choice of time frames.
If you trade for a living I'd bet you'd rather spend 15 minutes a day scanning your charts and then go off sailing, or golfing or flying or playing with the kids or pursuing a hobby that's become a business etc.Ignored
Dislikedeur/jpy : 3 confluence : S/R line, 68% Fib line and trend line..... Long target 117.00
Good, medium. What kind of trade would you rate this.Ignored
DislikedI missed my entry... due to ..., hence I entered on 1hr buov PA.
Normally I would've been in around 129.80, 115.80
I don't see dj (futures) breaking 7420, at least yen crosses telling me about strong bounce coming (at least for time being) we shall see.
It's times like today where fortunes are made and/or lost...Ignored