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Query: Moving Stops to Breakeven

  • #41
  • Aug 21, 2005 8:45pm Aug 21, 2005 8:45pm
chart
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  • #42
  • Aug 21, 2005 9:00pm Aug 21, 2005 9:00pm
chart
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  • #43
  • Aug 21, 2005 9:11pm Aug 21, 2005 9:11pm
dont ever let anyone tell you different. in my opinion correct entries will determine whether you make it in this business or not. an understanding of price action seperates the men from the boys. i was a boy at this for almost eight tough years. i can remember the exact day i became a man and it was the day i decided that price=information and to spend the time to learn the tell tale signs. everything else is an educated guess at best.
  • #44
  • Aug 21, 2005 9:37pm Aug 21, 2005 9:37pm
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  • #45
  • Aug 22, 2005 4:18am Aug 22, 2005 4:18am
Hi James

I have seen you mention price action several times in various posts.

Is this something you learnt yourself or did you learn it from a specific course.

If you learnt it from a specific course can I ask which one it was?

Your comments would be appreciated.

Cheers
Dubya
  • #46
  • Aug 22, 2005 5:23am Aug 22, 2005 5:23am
Quoting merlin
ohhh... i see fiji man. interesting entry technique.

the obvious potential flaw is that you will miss some of the big moves that never pull back. but if this is an intermittent system (as opposed to a SAR system that has to catch all the big moves) i can definitely smell the potential.
Merlin this was just a hypothetical untested entry technique. Not nearly enough for a system. As with most entry techniques you will miss some moves. With good portfolio design you'll have a breakout system that will not miss the ones that don't pull back. Really I was just proposing a mechanical way to design an entry that james was talking about.

FT
  • #47
  • Aug 22, 2005 5:29am Aug 22, 2005 5:29am
Quoting Dubya
Hi James

I have seen you mention price action several times in various posts.

Is this something you learnt yourself or did you learn it from a specific course.

If you learnt it from a specific course can I ask which one it was?

Your comments would be appreciated.

Cheers
Dubya
Try reading James' chart thread. All of it. The answers to your questions are all in there. Don't be lazy now.

FT
  • #48
  • Aug 22, 2005 5:34am Aug 22, 2005 5:34am
Quoting fijitrader
Try reading James' chart thread. All of it. The answers to your questions are all in there. Don't be lazy now.

FT
When your done reading James' chart thread, wait a week and then reread it again. You will get something new from the reread. Great thread by James.
Steven
  • #49
  • Aug 22, 2005 9:15am Aug 22, 2005 9:15am
Quoting scpeter
When your done reading James' chart thread, wait a week and then reread it again. You will get something new from the reread. Great thread by James.
thanks, i have been awol for a while on the chart thread. with a pregnant wife, a seven year old playing sports, a business and my trading time to do other things is tough. jim
  • #50
  • Aug 24, 2005 4:48pm Aug 24, 2005 4:48pm
Quoting fijitrader
Really I was just proposing a mechanical way to design an entry that james was talking about.
thats what is sounded like to me. i was about to ask james if he thought it sounded like a mechanical way of doing his entry, but i didnt want to offend you LOL. i didnt realize you did that by design

thats a great idea btw, the more i think about it the more it makes sense.
Relax and be happy.
  • #51
  • Aug 24, 2005 5:21pm Aug 24, 2005 5:21pm
Quoting Dubya
Hi James

I have seen you mention price action several times in various posts.

Is this something you learnt yourself or did you learn it from a specific course.

If you learnt it from a specific course can I ask which one it was?

Your comments would be appreciated.

Cheers
Dubya
well dubya its funny you asked this. the truth is that i learned price action from many places. if you start searching you will not find a whole lot on it. its bits and pieces. the best one i have ever found is by todd mitchell. its two grand but worth it in my opinion. before you do that let me throw out something i have been working on with merlin. within a month or so i will be starting a private section on the forum. i am putting together the initial sections right now. heres the scoop. it will be around 50 to a 100 bucks a month. to you and anyone else that might be interested it will be worth a hundred times that, i know because thats what i have personally spent learning what i will teach. there are also more goodies that i wont go into right now. one of the requirements will be to demo an account while trading off of a chart with nothing but price. thats right, no indicators, no fib ret, no pivot levels, nothing. do you or anyone else think they could be succesful at this business with your "systems" if you could already be succesful with nothing on your charts but price. stick with me 2 or 3 months and i will take you where very few traders ever go. i made a statement several months ago that when i decided to do something along these lines that it would be affordable and special for those of you here on the forum. i have already been told i am crazy to do this for this amount of money. i dont care i am going to keep my promise. for those of you who start this with me it will never go up. and when a course and alert service follows, which it will, my friends here will be remembered then also. this is a new adventure for me and where it will lead i dont know, but i do know i value the relationships i have made here and i plan to honor those of you who start this adventure with me. jim
  • #52
  • Aug 24, 2005 6:27pm Aug 24, 2005 6:27pm
this is a new adventure for me and where it will lead i dont know, but i do know i value the relationships i have made here and i plan to honor those of you who start this adventure with me. jim[/quote]


Jim
I can't wait to go on the adventure with you, if you'll have me.
Quinn
I started out with nothing, and I've got most of it left!
  • #53
  • Aug 24, 2005 6:35pm Aug 24, 2005 6:35pm
Quoting quinn
this is a new adventure for me and where it will lead i dont know, but i do know i value the relationships i have made here and i plan to honor those of you who start this adventure with me. jim

Jim
I can't wait to go on the adventure with you, if you'll have me.
Quinn[/quote]thank you quinn, my computer skills are terrible so its still a ways away. the only way this would be possible is with merlins help. as you already know merlin is a special person and i feel a deep sense of gratitude for the oppurtunity he has given me. what i am working on right now is streaming videos for the forum. i cant do this with pictures, so learning to record and get them in a format that will work is a very difficult task for me but i am getting there. i am going to preload material before the start and that is going to take a while. jim
  • #54
  • Aug 24, 2005 9:58pm Aug 24, 2005 9:58pm
Quoting james16
Jim
I can't wait to go on the adventure with you, if you'll have me.
Quinn
thank you quinn, my computer skills are terrible so its still a ways away. the only way this would be possible is with merlins help. as you already know merlin is a special person and i feel a deep sense of gratitude for the oppurtunity he has given me. what i am working on right now is streaming videos for the forum. i cant do this with pictures, so learning to record and get them in a format that will work is a very difficult task for me but i am getting there. i am going to preload material before the start and that is going to take a while. jim[/quote]


Your skills on the computer are probably as good as mine LOL
But, I know it will be worth the wait, so take your time.
Your new little one is a lot more important than anything else.
Quinn
I started out with nothing, and I've got most of it left!
  • #55
  • Aug 24, 2005 10:25pm Aug 24, 2005 10:25pm
Glad to here your still on track to make something available to all us newbie/nontechnical type guys. Take your time, do it right and all of us will be gratefull to you. Then I can quit doing my funky trades like the eur/usd post. Eventually someone like me can get into techicals.

Like my 10 year old boy always likes to say " How do you get a blonde to get a joke on sunday?......tell it to her on wednesday"

Pipmon
LETS PLAY HOCKEY!
  • #56
  • Aug 24, 2005 10:34pm Aug 24, 2005 10:34pm
Quoting pipmonster
Glad to here your still on track to make something available to all us newbie/nontechnical type guys. Take your time, do it right and all of us will be gratefull to you. Then I can quit doing my funky trades like the eur/usd post. Eventually someone like me can get into techicals.

Like my 10 year old boy always likes to say " How do you get a blonde to get a joke on sunday?......tell it to her on wednesday"

Pipmon
thanks pip, everyone here who has known me for a while knows i am cautious about everything i say or do concerning trading. one reason is i know how hard it is to make it long term in this business. i can say this for certain. this will be a newbies dream come true if they will give the effort required.
  • #57
  • Aug 25, 2005 9:54am Aug 25, 2005 9:54am
Quoting james16
one of the requirements will be to demo an account while trading off of a chart with nothing but price.
Thank you!

Best regards
Alan
  • #58
  • Aug 25, 2005 6:28pm Aug 25, 2005 6:28pm
James, I'll be looking forward to your grand opening!
Will there be balloons and great door prizes?
But seriously, I wish you all the best as this will be a
new chapter in your life and I feel privileged to share
in your new beginnings.

Just a sneak peak behind the curtains that say under
construction, will you be working with long term, swing,
day trading?

Blessings on your future,
candy
  • #59
  • Aug 25, 2005 8:37pm Aug 25, 2005 8:37pm
Quoting candy
James, I'll be looking forward to your grand opening!
Will there be balloons and great door prizes?
But seriously, I wish you all the best as this will be a
new chapter in your life and I feel privileged to share
in your new beginnings.

Just a sneak peak behind the curtains that say under
construction, will you be working with long term, swing,
day trading?

Blessings on your future,
candy
price action analysis starts from long term and works its way down. so all time frames are applicable. for beginners there will be a complete area for fib, pivot, ma instruction among others and how to combine these for confluence to find optimal trades while waiting for price action set ups. in my humble opinion a brand new trader who knows nothing will be ahead of most multi year traders in a matter of months. jim
  • #60
  • Aug 30, 2005 7:26pm Aug 30, 2005 7:26pm
Jim, thanks for your very interesting contributions. I have a couple of questions.
(1) You emphasize price action but do you see a place for other indicators ??
(2) The CCI indicator reflects price action relative to MAs. Have you ever used this indicator ??

Cheers
Ron, Australia
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