Thank you Tom!
A new trick for me to practice.
A new trick for me to practice.
Where can I learn more about Price Action like those in James16 charts? 9 replies
DislikedNo problem Krue.
And although I'm not a newbie, I'm definitely not a pro.
But if you stick around this thread or even join the james16 website, you'll learn tons of things from real pros.
Like you said, it really takes time and experience.
take care,
TomIgnored
Dislikedraczekfx,
What broker are you using? I am using MT4 on IBFX and my 4hr chart does not match yours from post 10042. Yours looks like shooting fish in a barrel!
Thanks,
DIgnored
Dislikedfiber in its final day before the breakout...??? (up/down - matters not)
My sell limit order set last night (5896) was missed by few pips. I was looking for a fake break out to 5920/40 and day ending with a 100p-nose PB.
Well, it appears we'll get an IB instead. I'm still favoring sharp move down, but since it's mostly 'crystal balling' and gut feeling... we don't discuss it here....
.
.Ignored
DislikedWhy do you anticipate a breakout? Is it mainly due to the number of IB's that you have highlighted, the ranginess of the Euro lately or instinct?. Or perhaps combination of all three?Ignored
Dislikeda combination of them all.... lol
but on a serious note. have a look at this chart.
Ranges are getting smaller and euro is getting compressed.
What happens if you compress a balloon too much?Ignored
Dislikedif it's nitrous oxide you could be laughing your head off!
I wonder if any intraday price confirmation might hint direction?
I wouldn't mind to be laughing on that one...Ignored
DislikedI think the Forex market is always laughing anyway, at how incompetent most of the "traders" are.Ignored
QuoteDislikedMost are ill informed on the important aspects of trading. Number#1 is money management. Many traders pay little attention to the power of money management. The best system in the world means nothing, if proper money management is not applied.
DislikedThat is so true. I traded wonderful PA setups, my win-loss ratio was pretty good, and two and a half weeks later, I had $3 in my account. Trade with strict MM rules, and you will have an epiphany--it will click all of a sudden, and you'll realize how powerful money management is, and how easy it is to be profitable.
TylerIgnored
DislikedBefore someone yells at me, I did not mean to say that profiting in forex is easy. But when someone makes more winning trades than losing ones, and only takes trades with good r:r and implements strict mm rules, he will profit.
TylerIgnored
DislikedHow can one be be very successful with a win ratio of 38%?.
GerardIgnored
DislikedIncompetent is a strong word. I don't think most traders are incompetent.
Most are ill informed on the important aspects of trading. Number#1 is money management. Many traders pay little attention to the power of money management. The best system in the world means nothing, if proper money management is not applied.
JimIgnored
Dislikedraczekfx, why do you favour a sharp move down, and not up on the fiber?
How can one be be very successful with a win ratio of 38%?.
GerardIgnored