james16 Chart Thread
Sorry Bundy. I got side tracked.
Freaking awesome post brother.
Its great having you as part of the true J16 family.
This is the JARROO I like!Your not wrong with the increasing concept at all. In a trend. I'm working on this one continuously myself.
All those knocking the set to Break Even / Take tight profit methodology.
...
All your trades are changes in exposure that are based on what you are risking verses what the reward will be. It's the same when adding into a position. What's the risk to your overall worth? And is the reward worth it?
I'm with you on that (at least I don't know anybody with that score) No one wins 95%, if you say you do you are full of shit.
As the FNG to this thread I was hoping to put the past months' reading into action on a demo trade. I would really appreciate any input anyone can afford.
Here are the details:
1. the iffy pin bar 2 bars b4 the 2 bar reversal was only interesting at best and not acted upon. While I know that's it's value as a PB no longer existed after the 1st bar of the 2 bar reversal closed, I was thinking it still and some underlying sentiment after the 2nd bar in the 2BR closed
2. The 2BR was as at swing high and finished at my PPZ.
3. bearish divergence
4....
No one wins 95%, if you say you do you are full of shit.
....not that he gets 1:1 always...he always takes some off at +10-20 pips and moves SL to BE, then hopes for a runner....9 out of 10 trades are on the EURUSD. He does not divulge his strategy, but I do know that he plays off of S&R's and PA...But I think his secret weapon is his order flow data that he subscribes to.....he knows when there is a $10 billion buy limit order, for example, by an institutional trader just waiting to be picked up at a certain support level....confirm that with PA, and he's almost guaranteed at least 10-20 pips.Hey Squeezy, that would be an indecision bar. But it might be playable given the confluences you outlined...way below A+ though
I was rather looking at a similiar bar but which comes along with a better confluence package. It's the Eur/Cad daily chart.
50 fib,
Long term support (this is where I exited my "2 doji" short trade")
macd divergence.
365 ema (weekly)
possible double bottom (second touch trade candidate)
with the over all weekly trend
Ghous.
Your not wrong with the increasing concept at all. In a trend. I'm working on this one continuously myself.
All those knocking the set to Break Even / Take tight profit methodology.
to all.... Your not wrong with the increasing concept at all. In a trend. I'm working on this one continuously myself.
If you are new here and serious, do yourself a favor and save this one as it is going to be an issue for you in the future if you reach any level of success in your trading. I am studying the way that J16 trades in consolidating/ranging markets. He has stated on more occasions than I can count that these markets range 80% of the time and trend 20% of the time. He has said that if you are going to trade successfully, you need to be able to trade in both settings. Right now I am still at the "sniping" phase of trading. Most of my trades are taken at the confluence of well formed bars at s/r. I do not get to trade as often as someone else but I do make money (4.5% this week and 12.4% last week)The adding to my position concept is one that I understand in principle but do not have the skills to achieve at the moment. I will say though that in order to be a successful trader, there is no need to master the art of adding to your position in a trend. Will you be a "more" successful trader? I guess that this is what the debate is about. My stance is that you will master this in relation to how hard you work on your entry/exit and discipline. Master a concept before you go to the next. Otherwise your efforts will end in frustration. I have yet to see anything in what J16 writes or produces that addresses this subject in depth. If I am wrong please show me where (either here or on PF). Much of J16's focus is on entry, possible exit or trouble areas in a trade, PPZ and S/R. He is obviously successful in sniping his trades and keeping his losses to a minimum. Wayne Jackson "Jacko" is another example of a successful trader who picks an entry and rides it till it reverses on him for 50-200 pips on average in a trade. Most of Jacko's trades are taken in ranging markets. Peter Crowns wrote on the subject of adding to your position in a trend. You can find his posts here on Forex Factory. Ryanmcd with his great experience is enjoying the profits based on this concept of adding to your position in a trend first hand and posts here regularly. Just the other day I read a statement by him that said a trade that ends up putting 15% in your account with an initial risk of 1% is pretty sweet. I couldn't agree with him more. Getting to that point IMHO takes the kind of deturmination that is not common. I urge those who are interested in learning more of this concept to listen/read Ryan and Bundy. Peter Crowns is long gone.
No one wins 95%, if you say you do you are full of shit.
We're already doing the impossible here...
Took the words out of my head!!! So So true. Awesome bundy. Just awesome. Post one material.
For me the bottom line comes to this. If anyone tells me that their way is the only way to trade they are wrong. Period.
Ryan I can line you up ten who manage large hedge funds who would bet their houses that with your results, you're full of shit. And I'd take the bet. You know why? Because I know better. Because you know better. Because you're someone who came into this thread and showed me that something I thought impossible was not only possible, but that with practice, anyone...
