Hi all!!! What do you think of Eur/JPY and CHF/JPY - it's looks like bullish overbar. Weekly is trendig up, so it could bee a continuation of the trend? Just learning.....sorre...
- #10,222
- Apr 23, 2008 5:47am Apr 23, 2008 5:47am
Hi all, new to this thread and it realy good I must say, I like the way trades are taken on price action not indicators, ive been through many over the years and what ive finaly learnt is they always follow the price so are always lagged. I shall be subscibing to this thread now and post some charts keep up the good work...
Heres a trade I took last night. long GBP/CHF. (DAILY)
your thoughts please.
Heres a trade I took last night. long GBP/CHF. (DAILY)
your thoughts please.
- #10,223
- Edited 6:51am Apr 23, 2008 6:48am | Edited 6:51am
heloo, this is my first on the forum.hope u find the time and patience to attend to my inquiries.i have being reading on james 16 chart thread but dont seems the get the heart of the system.am aware that cos am new to forex its going to take sometime to grow,am willing to learn as i already have my account blown already. my quest for solution brought me to forex factory. wouldbe glad if any can help. read alot about focus on higher time frames like day time frame,4hour and one hour,for stability but i dont know how that would work out for me as am on a mini lot of $100. what would work best for this kind of trader. hope i do not sound boring, just need some good lightthank in anticipation of ur suggetionsvinanebi
To echo the other guys/gals PA is not a system. I rather see it as a story. Here's what I do. Print out a chart (Daily or Weekly). Take a pencil. Start from the left (u don't have to hide anything) and start reading the story the chart is telling you. Make notes on the chart of what u see. For instance yesterday I noticed 3 BEOB's on a "story" I was reading. All of these had one thing in common. The high of each of these BEOB's were against confluence. There were other BEOB's, but they didn't work as well as the ones who were against confluence.
By doing this you train your eye to see certain setups and eventually you'll be able to recognize setups (without having the "future" of the chart).
On a personal note. I've been doing this for a year now, jumping from system to system, but I always knew that no system will work for me. I need to understand what I'm looking for, not follow 17 indicators! The market is actually quite simple. U have millions of people and they can do only 1 of two things: buy or sell (on entry AND exit). This is a mass market so if you know what the mass market knows or thinks (mass phsycology) you'll know what to do. PA tells you about mass phsycology. Will ppl buy or sell and why?
Simple economic principle: buy low sell high. PA helps you understand what the market thinks about the current value of a pair. Remember that the value of the pair is relative to the past.
Anyway, a lot of this will probably not make sense, but I had to get it off my chest.
Regards
Werner
PS: What I was trying to say. I'm profitable now only after 1 year and removing all clutter(indicators). Stick to PA. K.I.S.S
Phil419
- #10,227
- Apr 23, 2008 10:06am Apr 23, 2008 10:06am
- Joined Jul 2006 | Status: Charts + PA > * | 3,251 Posts
Trust price. Know yourself.
- #10,229
- Apr 23, 2008 12:09pm Apr 23, 2008 12:09pm
Would anyone happen to have a trade log to calculate the units (in Oanda) based on the specific pair and the stop size (risk)??? I would like to risk a set amount on each trade, so the unit size will vary with the size of the stop. I trade in Oanda, and this would be a handy tool. You can enter a percentage in Oanda, but it deals more with Margins as opposed to risk.
Tyler
skype: ststroud. let's talk trading.
- #10,232
- Apr 23, 2008 2:03pm Apr 23, 2008 2:03pm
- | Commercial User | Joined Oct 2005 | 2,899 Posts
A paper trade: I sold Gold, You see where, "raczek style". ....
this is my style... 50/60fib ret, ppz, tl, etc, confluence,... Kaaaabooooooom
.
- #10,233
- Edited 3:14pm Apr 23, 2008 2:06pm | Edited 3:14pm
- | Commercial User | Joined Oct 2005 | 2,899 Posts
lol...
this is my style... 50/60fib ret, ppz, tl, etc, confluence,... Kaaaabooooooom
.
- #10,235
- Apr 23, 2008 2:24pm Apr 23, 2008 2:24pm
- | Commercial User | Joined Oct 2005 | 2,899 Posts
watch this TL....
If it breaks, this might create many, strong break outs opportunities on cad, chfs, jpys, xxx/usd. just to name a few. They might be several hundreds pips opportunities coming your way in a very short period of time.
I have uj at 108 and u/c at 106, fiber 1.54? (don't laugh) on my radar screens.
As always, control your risk and use PA for clues..
.
ok. I used up my post limit for this week.
If it breaks, this might create many, strong break outs opportunities on cad, chfs, jpys, xxx/usd. just to name a few. They might be several hundreds pips opportunities coming your way in a very short period of time.
I have uj at 108 and u/c at 106, fiber 1.54? (don't laugh
) on my radar screens.As always, control your risk and use PA for clues..
.
ok. I used up my post limit for this week.
- #10,237
- Apr 23, 2008 4:15pm Apr 23, 2008 4:15pm
- | Commercial User | Joined Aug 2006 | 12,004 Posts
hello everyone fairly new to this thread does anyone think these are possible shorts?
CHFJPY - DBHLC
EURJPY - DBHLC (not quite a signal yet bit still have 1HR till next daily bar)
using WHC MT4 platform
your comments please.
Hey woolley welcome to the j16 thread
Here is a chart of chf/jpy. I would have a lot of trouble pulling the short trigger because of all those bar highs. That is fighting into a lot of support.
As for eur/jpy this is not a dbhlc. For it to be the close of the bar, must be lower then the previous bars low. Common mistake.
Have a good one !
Mike
- #10,239
- Apr 23, 2008 4:34pm Apr 23, 2008 4:34pm
Hey thanks for quick responce, I was waiting on the EJ to close below the last bars low (see last post), for the signal to pull the trigger. thanks for the heads up on CHFJPY I can see now its quite obviouse all the support from last couple of weeks highs. may I ask which is the best platform is for daily bars (time difference ect).
great thread anyway and thanks for your time.
sorry i can see by chart north finance is the platform
great thread anyway and thanks for your time.
sorry i can see by chart north finance is the platform