And this probably is the best part I like abt you...
You went through that at age 17. wow.
Don't ask me what I was doing at 17. lol
Indicators show the past. Price Action "Indicates" the future.
james16 Chart Thread
- #40,281
- Aug 7, 2009 1:26am Aug 7, 2009 1:26am
- Joined Sep 2005 | Status: J16 Senior Member | 13,635 Posts
- #40,282
- Aug 7, 2009 1:33am Aug 7, 2009 1:33am
- Joined Jan 2008 | Status: <<--(-$-)-->> | 5,571 Posts
Your one of my Heroes, ghous.
You went through that at age 17. wow.
Don't ask me what I was doing at 17. lol
I mean what's the big deal in affording a gf and trading side by side?
I believe . . .
- #40,285
- Aug 7, 2009 1:42am Aug 7, 2009 1:42am
- Joined Sep 2005 | Status: J16 Senior Member | 13,635 Posts
Indicators show the past. Price Action "Indicates" the future.
- #40,288
- Aug 7, 2009 1:52am Aug 7, 2009 1:52am
- Joined Sep 2005 | Status: J16 Senior Member | 13,635 Posts
Indicators show the past. Price Action "Indicates" the future.
- #40,289
- Aug 7, 2009 1:53am Aug 7, 2009 1:53am
- Joined Jan 2008 | Status: <<--(-$-)-->> | 5,571 Posts
Dear Ghous,
Your post is very inspiring and touching. Thank you so much!
I just wonder what have you changed technically to come out from loss to winning? I believed that before you wrote that on paper, you had already studied James PA for a while. How did you make the breakthrough after the writing?
It would be great if you can share!
Best Regards,
kk007
It was the man himself James16, and before I thought I had just one great man behind me, I was taken by surprise to see a fleet of great men all cheering and grinning up at me,
They taught me to to love, they taught me to live, they taught me positivity, they taught me to care, they taught me abt self belief and what it can do for you...and yeah they did also teach me how to a trade.
Best of all except the trading part, almost none of the material taught to me was ever put in a post. (except by Rac a few times over which I pondered for the rest of the day) It's all around you here in this great atmosphere...
G.
I believe . . .
- #40,290
- Aug 7, 2009 1:56am Aug 7, 2009 1:56am
Right on bro.
How you act is more important than how you feel.
- #40,291
- Aug 7, 2009 1:57am Aug 7, 2009 1:57am
- Joined Jan 2008 | Status: <<--(-$-)-->> | 5,571 Posts
I believe . . .
- #40,292
- Aug 7, 2009 2:08am Aug 7, 2009 2:08am
- Joined Nov 2007 | Status: Conscious Incompetence | 3,274 Posts
Don't wish it were easier, wish you were better. ~ Jim Rohn
- #40,295
- Aug 7, 2009 4:13am Aug 7, 2009 4:13am
Charts Speak for themselves...
- We have reached good resistance on a Monthly TF
- Weekly is shaping up to form a pinbar, but we have NFP coming out today, which may change the shape of the candle adversely. So best to wait till weekend to re-assess.
- Daily shows that we may be trading into support, if a pinbar forms, depending on where is closes... It is tempting to go long @ 1.6700 for a quick scalp and leave a runner, but NFP once more might change things.
As always will be looking @ price action to gauge an entry, may have missed an hourly signal to buy as I prepared this post 
- #40,297
- Aug 7, 2009 4:28am Aug 7, 2009 4:28am
- Joined Feb 2009 | Status: Commercial Member <- Don't trust me | 2,976 Posts
Thanks ghous,
It is truly great! Hope to see more and more great man born here!!
kk
It is truly great! Hope to see more and more great man born here!!
kk
Well who else could it be Kk,
It was the man himself James16, and before I thought I had just one great man behind me, I was taken by surprise to see a fleet of great men all cheering and grinning up at me,
They taught me to to love, they taught me to live, they taught me positivity, they taught me to care, they taught me abt self belief and what it can do for you...and yeah they did also teach me how to a trade.
Best of all except the trading part, almost none of the material taught to me was ever put in a post. (except by Rac a few times...
- #40,298
- Aug 7, 2009 4:41am Aug 7, 2009 4:41am
I have noticed this almost pin bar on the weekly chart. As I am at the begining of the learning process, I would be interested to hear the comments of those more experienced than I.
I realise that the week has yet to complete so for this question, I am assuming that the week closes like this.
So with this price reaction to the zone of 50% ret - would anyone look to go short on this?
(assuming my first chart post is readable
)
I realise that the week has yet to complete so for this question, I am assuming that the week closes like this.
So with this price reaction to the zone of 50% ret - would anyone look to go short on this?
(assuming my first chart post is readable
)
- #40,299
- Aug 7, 2009 4:50am Aug 7, 2009 4:50am
I have noticed this almost pin bar on the weekly chart. As I am at the begining of the learning process, I would be interested to hear the comments of those more experienced than I.
I realise that the week has yet to complete so for this question, I am assuming that the week closes like this.
So with this price reaction to the zone of 50% ret - would anyone look to go short on this?
(assuming my first chart post is readable
You chart is good and readable from here!!!
I'm definetly looking at this as well... like you say lets see where she closes but a good monthly PPZ area as well....
haven't had a chance to have a good look (for other confluence etc) as I'm at work and can only flick MT4 up for a few seconds glance occasionally
but she look promising at this stage certainly!!! - be nice to see what the grownups think of this one...Tom
- #40,300
- Aug 7, 2009 4:55am Aug 7, 2009 4:55am
I just want to express my appreciation to you guys for the great work on the thread this week. Joel, your posts remind me of the great Darkstar. COmplicated concepts, simply and clearly expressed so that everyone can understand. Come to think of it there's someone else who does that....the fella who started this thread....
It's one of my red flags now when an educator is unnecessarily enigmatic. (I am not talking about Rac here. Actually when you get a little further down the road you realise Rac's stuff is a lot lot simpler than it looks and that he is pretty clearly laying it out in his charts). But in my time in the forex wilderness, oh man, the number of people who would use unnecessarily complicated language and huge ego to mask their lack of knowledge, or only hint at things expecting you to work it all out. "You don't think I'm just going to tell you how this works?" they seemed to be saying. "Well, why not?" I always thought. I tried to follow how they did things but it made no sense. Of course there was no substance behind their methods.
To quote a great man, this stuff is dirt simple folks. And anyone who claims otherwise should really make your alarm bells ring. Joel explains the most complicated concepts so simply. As do most of the seniors here. It's why it is such a beautiful environment.
And then there was Ghous' heartbreaking honesty, the responses to kk....it really has been a great week.
I wanted to add to this RR thing that gets talked over endlessly when talking of this method.
The usual RR theories simply don't apply here for one reason IMO. When people talk of RR that are not taking into account dynamic trade management. For traditional RR theory you set your SL, your TP and you walk away. One or the other gets hit. Here we do things differently. Our trade management is done on the fly. We get stops to break even. We let trades run nestling our stops behind PPZs on the way down. We don't let ourselves take many full bar losses. So many approaches. All of which make traditional RR difficult to calculate or apply.
Say I have a 200 pip stop and I look for a fifty pip profit. But what if after ten minutes and a hard break I move my stop to break even? You see how traditional RR doesn't begin to be able to deal with this concept? Say the trade started to go against me and I killed it after 50 pips. What did I risk for what reward? It's virtually impossible to work out using traditional methods.
I think anyone who sees the dynamic trade management style employed here, who then says that high RR is crucial and that anyone who doesn't factor it in is an idiot..... well they have simply misunderstood what goes on.
As SP said, just don't be an idiot about it. RR concepts are common sense. We're not moving average crossover system traders who don't move SLs and TPs. We are discretionary price action traders who move stops and take profits dynamically based on support and resistance. That alone should make anyone think of RR in a totally different way.
The seniors here preach it simply. Good bars off PPZs, heavily confluenced and managed in relation to support resistance levels. Do that and everything else just takes care of itself.
It's one of my red flags now when an educator is unnecessarily enigmatic. (I am not talking about Rac here. Actually when you get a little further down the road you realise Rac's stuff is a lot lot simpler than it looks and that he is pretty clearly laying it out in his charts). But in my time in the forex wilderness, oh man, the number of people who would use unnecessarily complicated language and huge ego to mask their lack of knowledge, or only hint at things expecting you to work it all out. "You don't think I'm just going to tell you how this works?" they seemed to be saying. "Well, why not?" I always thought. I tried to follow how they did things but it made no sense. Of course there was no substance behind their methods.
To quote a great man, this stuff is dirt simple folks. And anyone who claims otherwise should really make your alarm bells ring. Joel explains the most complicated concepts so simply. As do most of the seniors here. It's why it is such a beautiful environment.
And then there was Ghous' heartbreaking honesty, the responses to kk....it really has been a great week.
I wanted to add to this RR thing that gets talked over endlessly when talking of this method.
The usual RR theories simply don't apply here for one reason IMO. When people talk of RR that are not taking into account dynamic trade management. For traditional RR theory you set your SL, your TP and you walk away. One or the other gets hit. Here we do things differently. Our trade management is done on the fly. We get stops to break even. We let trades run nestling our stops behind PPZs on the way down. We don't let ourselves take many full bar losses. So many approaches. All of which make traditional RR difficult to calculate or apply.
Say I have a 200 pip stop and I look for a fifty pip profit. But what if after ten minutes and a hard break I move my stop to break even? You see how traditional RR doesn't begin to be able to deal with this concept? Say the trade started to go against me and I killed it after 50 pips. What did I risk for what reward? It's virtually impossible to work out using traditional methods.
I think anyone who sees the dynamic trade management style employed here, who then says that high RR is crucial and that anyone who doesn't factor it in is an idiot..... well they have simply misunderstood what goes on.
As SP said, just don't be an idiot about it. RR concepts are common sense. We're not moving average crossover system traders who don't move SLs and TPs. We are discretionary price action traders who move stops and take profits dynamically based on support and resistance. That alone should make anyone think of RR in a totally different way.
The seniors here preach it simply. Good bars off PPZs, heavily confluenced and managed in relation to support resistance levels. Do that and everything else just takes care of itself.