james16 Chart Thread
- #20,344
- Feb 4, 2009 2:43am Feb 4, 2009 2:43am
- Joined Jan 2008 | Status: <<--(-$-)-->> | 5,571 Posts
I believe . . .
- #20,345
- Feb 4, 2009 3:10am Feb 4, 2009 3:10am
- | Joined Aug 2007 | Status: I keep my eyes open | 1,108 Posts
One Chart is Worth Ten Thousand Words.
- #20,346
- Feb 4, 2009 3:40am Feb 4, 2009 3:40am
- Joined Jan 2008 | Status: <<--(-$-)-->> | 5,571 Posts
Hi Jim,
I am a bit confused with the above: on D1, an average SL (above/below PA) is well over 100 pips. Moving SL after it moved just 30% of the original amount - isn't that too soon? E.g. if a pibar is 100-pips long, is it safe to move SL to BE when the price only moved 30 pips after breaking that PB?
Bear in mind though that there are'nt many who trade like this not because they don't but because they can't...he operates a huge account and IMO the best thing to do if you have the luxury of 4 figure income of 2 figure pips
Regards,
Ghous.
I believe . . .
- #20,347
- Feb 4, 2009 3:40am Feb 4, 2009 3:40am
Hi Jim,
I am a bit confused with the above: on D1, an average SL (above/below PA) is well over 100 pips. Moving SL after it moved just 30% of the original amount - isn't that too soon? E.g. if a pibar is 100-pips long, is it safe to move SL to BE when the price only moved 30 pips after breaking that PB?
...as I can read from his post before, James even taking partial profit at tha point. 
- #20,348
- Feb 4, 2009 3:49am Feb 4, 2009 3:49am
- Joined Sep 2005 | Status: J16 Senior Member | 13,635 Posts
He does'nt follow normal MM techniques, just as he said he does'nt want to see a trade that has gone positive for once to give him anything negitive. To a person who calculates risk/reward for every trade this may sound silly but Jim does'nt give a damn to the risk/reward, anything goes positive he'll put it in the bag hurl it on his back and move on...that's just him
Bear in mind though that there are'nt many who trade like this not because they don't but because they can't...he operates a huge account and IMO the best thing...
Also remember that Price Targets at S/R levels, recent Highs/Lows, etc., comes into play and they may only be 30 pips away. A good confirmation of a successful PA setup is that it breaks on the next Bar (or candle) and it breaks robustly. Think momentum.
Indicators show the past. Price Action "Indicates" the future.
- #20,349
- Feb 4, 2009 4:12am Feb 4, 2009 4:12am
- Joined Jan 2008 | Status: <<--(-$-)-->> | 5,571 Posts
Finally after a LLLOOONNNNGGGGG time...here comes...
a BUOB and a BEOB just the way I lov'em
I'm targeting the grey region for my first tp on the BUOb and the red horizontal line shows my tp 1 for the BEOB on the Eur/Gbp.
Regards,
Ghous.
a BUOB and a BEOB just the way I lov'em
I'm targeting the grey region for my first tp on the BUOb and the red horizontal line shows my tp 1 for the BEOB on the Eur/Gbp.
Regards,
Ghous.
I believe . . .
- #20,350
- Feb 4, 2009 4:26am Feb 4, 2009 4:26am
Finally after a LLLOOONNNNGGGGG time...here comes...
a BUOB and a BEOB just the way I lov'em
I'm targeting the grey region for my first tp on the BUOb and the red horizontal line shows my tp 1 for the BEOB on the Eur/Gbp.
Regards,
Ghous.
If it clears your first TP, back down to .8865-40 area?
Steve.
"The more I practice, the luckier I get." (Gary Player)
- #20,353
- Feb 4, 2009 4:36am Feb 4, 2009 4:36am
- Joined Jan 2008 | Status: <<--(-$-)-->> | 5,571 Posts
My EG candle's got 35 mins to go but watching with interest.
If it clears your first TP, back down to .8865-40 area?
Steve.
I'll be pulling SL to breakeven when my first TP get's hit, and yes I'll love to see it go down to .8865 should be a great reward for waiting
Regards,
Ghous.
I believe . . .
- #20,354
- Feb 4, 2009 4:44am Feb 4, 2009 4:44am
- Joined Jan 2008 | Status: <<--(-$-)-->> | 5,571 Posts
gm peeps
is dis a valid bullish outside bar to trade on the gbpchf h4
1st tp should be 1.67
Regards,
Ghous.
I believe . . .
- #20,357
- Feb 4, 2009 4:56am Feb 4, 2009 4:56am
Finally after a LLLOOONNNNGGGGG time...here comes...
a BUOB and a BEOB just the way I lov'em
I'm targeting the grey region for my first tp on the BUOb and the red horizontal line shows my tp 1 for the BEOB on the Eur/Gbp.
Regards,
Ghous.
for e/g, is this one of the ppz break out trade? I mean the BEOB setup breaks the ppz (orange line). then break of the setup is ur entry and confirmation of the ppz break?
Many thanks
- #20,358
- Feb 4, 2009 4:59am Feb 4, 2009 4:59am
- Joined Jan 2008 | Status: <<--(-$-)-->> | 5,571 Posts
hehehehhe
nice one ghous,also watching the cadchf, eurgbp .....
remains 20mins on my feed,b4 i decide whether to jump in
i saw a nice bearish pin on eurjpy h4, but diddnt take it cos of the traffic to the left (no space), but it played out nicely
a pin might also be visible on the gbpjpy h4
anyways hav to wait for these bars to close
And Eur/Jpy is just not on....
I believe . . .
- #20,359
- Feb 4, 2009 5:04am Feb 4, 2009 5:04am
- Joined Jan 2008 | Status: <<--(-$-)-->> | 5,571 Posts
question again, hope u dont mind.
for e/g, is this one of the ppz break out trade? I mean the BEOB setup breaks the ppz (orange line). then break of the setup is ur entry and confirmation of the ppz break?
Many thanks
You could take it as a ppz break or treat as a simple BEOB trade, for me it was neither in the most pure form. What convinced me was the BEOB ofcoarse and the close below the 0.9 round number which I am sure will now act as resistance.
Regards,
Ghous.
I believe . . .
- #20,360
- Feb 4, 2009 5:06am Feb 4, 2009 5:06am
Anybody considering or took the short on eru/gbp weekly?
I think Its a good opportunity, eager to hear any feed back on this trade.
I posted the weekly with my thoughts on it a few pages back. This .90 level is imho the most solid level to be doing anything off of on this pair.
, I found the location a bit worrying though,