Rac, you need to make a J16-remix. Take him saying "This stuff is dirt simple folks" and put some dance music in it lol
It's been corrected, but without music. FF won't allow it..
james16 Chart Thread
- #33,681
- Jun 17, 2009 8:52am Jun 17, 2009 8:52am
- | Commercial User | Joined Oct 2005 | 2,899 Posts
It's been corrected, but without music. FF won't allow it..
- #33,682
- Jun 17, 2009 9:04am Jun 17, 2009 9:04am
- | Joined May 2009 | Status: Trader | 1,311 Posts
There is no top. There are always further heights to reach. Jascha Heifetz
- #33,684
- Jun 17, 2009 9:09am Jun 17, 2009 9:09am
- Joined Feb 2008 | Status: sucker for punishment | 2,444 Posts
PATIENCE... DISCIPLINE
- #33,685
- Jun 17, 2009 9:35am Jun 17, 2009 9:35am
I've never been drawn to fixed R levels as targets because I'd rather base my exits on where SR is. And I like a situational element to my trade management.
But that does leave me open to emotional trading and the more I do this the more I like rules and structure. As Jim said on a recent video (or was it Mike, I've watched so many recently I am getting confused..
) if you have to think more than one minute over a setup then it's probably not one of the absolute best. I'd like all my trading decisions to be that simple. The more I think the more trouble I get into. I think that's why doctors, lawyers, MBAs often fail at this business. They succumb to the human desire to make it more complicated than it is.
If anyone could make me think about fixed RR targets it's Josh simply because he does so much research. So its in the back of my mind and will be added to the already overflowing testing pile that sits on my desk.
My birthday post will come later. Too much to say to fit in as a footnote here. But raczek's post really made me laugh.
"It really is dirt simple folks."
"Hardest easy money you'll ever make"
Those phrases just make me smile.
But that does leave me open to emotional trading and the more I do this the more I like rules and structure. As Jim said on a recent video (or was it Mike, I've watched so many recently I am getting confused..
) if you have to think more than one minute over a setup then it's probably not one of the absolute best. I'd like all my trading decisions to be that simple. The more I think the more trouble I get into. I think that's why doctors, lawyers, MBAs often fail at this business. They succumb to the human desire to make it more complicated than it is.If anyone could make me think about fixed RR targets it's Josh simply because he does so much research. So its in the back of my mind and will be added to the already overflowing testing pile that sits on my desk.
My birthday post will come later. Too much to say to fit in as a footnote here. But raczek's post really made me laugh.
"It really is dirt simple folks."
"Hardest easy money you'll ever make"
Those phrases just make me smile.
- #33,687
- Edited 9:57am Jun 17, 2009 9:41am | Edited 9:57am
I know this chart is already in this thread, but I wanted to my best trade of the week, after having survived a retracement close to my Stop loss to the pip last night
300 sweet pips in one trade following simple rules
I am recent follower of this thread and have one successful J16 trade under my belt (on demo), and have followed a few others but those "me too" don't really rank as mine but do serve to reinforce what we are all trying to master, so thanks to the regular posters for helping in that learning phase, you know who you are and I won't name you in the fear that I might miss one of you!
This Goozman trade brings forth a question of entry / exits which I hope someone could clarify.
Initial Entry
Executed below the close of the PB, perfectly executed by Goozman. Is this indeed the right way to do it?
Exit Point
Wouldnt the double bar in the 157 range (two bars seperated by about 5 points) serve as bullish signal? And therefore on the flip side an exit signal for shorts?
Re-entry
Following the principle of only trading with the trend the 2nd PB, (close to Goozman stop) would signal a new short below the bottom of the PB in the 158.50 range.
I don't know whether I am looking at this too agressively (ie. seeing two trades where there was perhaps only one) or whether there is credence to what I said.
Finally a word of gratitude to James16, alhough many of us "lurkers" of this thread don't say it often and sometimes not at all, be in no doubt that we all appreciate what you have started and what you continue to do to this day. 4 years and counting, wow!! That alone is a testament to the value of what you do. Thank you.
Regards to all.
non si dimentichi mai
- #33,689
- Jun 17, 2009 10:04am Jun 17, 2009 10:04am
- | Commercial User | Joined Aug 2006 | 12,004 Posts
- #33,692
- Jun 17, 2009 10:22am Jun 17, 2009 10:22am
- | Commercial User | Joined Aug 2006 | 12,004 Posts
- #33,693
- Jun 17, 2009 10:29am Jun 17, 2009 10:29am
Hello guys
what do you think about this H1 failed PB on EURUSD?
Jduester, nice trade on EURCAD, I took the same trade , but was stopped out as my SL was below left eye. The same as with GBPUSD weekly PB
I am not as experienced as many of the guys here but my own take on why I personally passed on that bar (EUR / USD) was;
- close of the pin was above the high of the previous bar. Only by 1 pip but above and therefore marginal for me.
- I had my next resistance area marked on my chart at 1.3932, so the bar stopped too soon for me.
So for me marginal, so I passed on it. Hope that this helps. I would be interested to hear a view from the more experienced traders.
Best regards & Happy Birthday
from me as well. I am one of the many who find this resource so invaluable.Matt
- #33,695
- Jun 17, 2009 10:38am Jun 17, 2009 10:38am
Yes it was not the best setup, normally I don't take H1 trades but I had 2 loses on EURCAD and GBPUSD, so I took it.
Hi Alter,
I am not as experienced as many of the guys here but my own take on why I personally passed on that bar (EUR / USD) was;
- close of the pin was above the high of the previous bar. Only by 1 pip but above and therefore marginal for me.
- I had my next resistance area marked on my chart at 1.3932, so the bar stopped too soon for me.
So for me marginal, so I passed on it. Hope that this helps. I would be interested to hear a view from the more experienced traders.
Best regards & Happy Birthday
- #33,696
- Jun 17, 2009 10:39am Jun 17, 2009 10:39am
- | Commercial User | Joined Aug 2006 | 12,004 Posts
- #33,697
- Jun 17, 2009 10:41am Jun 17, 2009 10:41am
- | Commercial User | Joined Aug 2006 | 12,004 Posts
Yes it was not the best setup, normally I don't take H1 trades but I had 2 loses on EURCAD and GBPUSD, so I took it.
"#*@* 2 losses in a row, wtf!"
"let me check out the hourly"
"oh there is a decent looking pin, i'm getting in with a bit more to get back my losses"
"#*#*#"
This is NOT to mock you. Please understand I have done it. Everyone has. But in the end this will be the account killer, and I don't want to see you go that path. Remember it is important to graduate to these lower timeframes, as bars like the previous will eat you up.
Hope you don't take this the wrong way as I mean well
Mike
