james16 Chart Thread

imho that monthly Pin bar is no longer looking good.

It hasn't broke yet, but when price dips below second eye, I'm looking for exit...

Wiz
What is the biggest moving average shown on your hourly chart?
Supports price well?

turnip15, it is the 50ema. I find it always supports price well. If a move is trending you can make a whole lot of money by trailing a stop under the 50 on any timeframe.

No worries here at least, trading my own convoluted logic ;P

I in turn hope nobody comes here to trade "foreign" setups, either.

The thread I believe(just my opinion/perception) should be to show, illustrate and share discussion on setups, not telling people what to trade.

It's highly important that one always makes one's trades on their own and for their own reasons.
Else you find yourself in a whole bucket full of teeth and nails real quick, cursing about a trade not doing something you'd expected or doing something you can't / don't understand in the first place.

Early on I did that a few times(back when...oh can I even still remember hehehe). I think most everyone probably tried it at some point, and it was the WORST thing I ever did. Really the worst feeling.

There's nothing worse than not knowing what's going on and taking other people's trades. It is truly the biggest cardinal sin anyone can commit.
(No, this cannot be overemphasized)

The whole point of learning and growing as a trader is to develop your own view and perspective and being able when someone goes "I shorted xxxx" to go "Meh. Not a setup to me, because..." to yourself and have REASONS.

Or if you do decide to take something, you in turn have REASONS.


This is also what I mean when I say blot out all the noise and detach yourself.
Yea sure you can hear what others are saying and so forth once you are emancipated and independent in your own trading and have fun pondering about, but you will never feel any influence due to it since you already have a plan and a reason.
Because you have a way of trading.
Because you know what you're doing (or trying to do).
You already have your perspective.
You're solid.

This is a hard point to get across since one can distinguish between the learn and adopt phase and the focussed on what you're doing phase.
Then once you're set, you're open to being (either) amused and (/ or) educated by further input with already A SOUND BASE IN PLACE.

Ironically enough once you're there it's easily understood and distinguishable, but sometimes when I say this I still get those "yea, but we're all here to learn and you need to adopt something and what's wrong in taking bits and pieces" etc posts if I post it in other threads than this one...

Yes, but you won't get anywhere unless you focus first.
You won't get coherent if you system hop.
You won't get your own viewpoint if you keep listening to others and are swayed and influenced.
You can't put together bits and pieces and decorate if there is no foundation yet.

You need to emancipate yourself first, then you can set out to discover new shores - if you wish to do so.

This is of course just my opinion(and experience), I could be wrong.


Boy, this turned into a bigger essay than I thought initially rather swiftly, didn't it.....Rambling Ron, rambling on....

GM has a pin on daily in process off of recent lows.

I don't see this on my chart at all...extremely solid support though...have you noticed a relationship between GM and the Dow?

Hi Mike, I have another question for you. On the MT4 which one do I use, I see two version 1. MT4 Mobile and 2. MT4 Client . which one is the free charting ? Could you send me the link to the one you're using?
Thanks for your help. Dan

Your right, its not a pin. Just good support. I have only recently begun looking at stocks, so no I have not yet noticed this relationship. I will take a closer look. Thanks, Dion

Has anyone been watching the FTSE 100? That looked good. Maybe it will come down a little for an entry.

Doesn't look to be cooling down.

it is MT4

here is IBFX's

http://interbankfx.com/Downloads/MT4.exe

i see something on AUD daily. not sure if everyone in here likes it but i do

Hey HipsterPipster, I am watching all these with you. I watch over 80 markets. The Dow had a nice pin yesterday on my feed which would have made a superb trade.

Dear lawd ;p

And I thought I was bad lol

Just remember: Putting 1% on 4 pairs is just as good as 80 x 0.05%

Hehehe j/k ;p

Son of a gun.. I saw this exact setup and didnt take it because of the fact that the underside TL was scaring me.. damn, and it went for 140+ pips too!

Did you enter above the pin bar? Or are you just considering this trade now?
My entry was very late at 0.8315. I'm not too happy with it but it'll do this time.

Wizard,
Many thanks

Is the USD/CAD ever going to turn up?

Is the carry trade really dead?

Will oil hit $80 this week?

Did Kate and Gerry McCann kill Madeleine?

These are definetly the pressing issues of the moment.

$99.97 is about 161% off the Aug 22nd low. Actually, $95.14 is more like it.