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  • #1,421
  • Aug 16, 2009 11:12am Aug 16, 2009 11:12am
mike how are you my friend !

hows ur trade hope u r doing well
  • #1,422
  • Aug 16, 2009 11:21am Aug 16, 2009 11:21am
Quoting KissFan
Hey Mike! I enjoyed the pics of your bikes on the other thread. Let me have your take on this trade. I am in a discretionary quandry. I entered at the break of the daily pin at .8375 and took 1/2 off the table at .8456. Total of 81 pips. Currently my SL is .8200 I am willing to take a small loss overall by allowing the trade to play out a little longer however the chart is giving me mixed signals here. The daily is showing BEOB at swing high but closed above support. The 4hr is telling me short still but once again above support. My problem is...
Hey Roger, how's it goin brother?! Long time no speak, I hope everything is good for ya man!

Thanks on the bike comment too, those are my "works" as of right now.

Here's a pic of my 4 hour close. I wouldn't really think too tough of this one, other than the fact that I would have MY personal stops below that pin bar or pin bar's left eye to reduce risk.

I'll add to it with the second chart including the fib retracement values.


To me, that looks like it could be just a retracement from the pin, which is kind of what I'm thinking on the nzd/usd right now as well. I could always be wrong however. I'm not in this trade. All I can say is that I would personally reduce my risk on this one as it could go either way. You said your stop is at .8200. You'd be reducing risk by close to 75 pips if you were to do this, although that's totally up to you.

If that 4 hour pin bar breaks upwards, I'm going long on this pair just like with the nzd/usd.
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I dream, therefore I become.
  • #1,423
  • Aug 16, 2009 11:22am Aug 16, 2009 11:22am
Quoting warta
mike how are you my friend !

hows ur trade hope u r doing well
Hey Bill!!! It's great to hear from you!

I'm fantastic! How have you been brother? I hope everything is going great for ya man!
I dream, therefore I become.
  • #1,424
  • Aug 16, 2009 11:26am Aug 16, 2009 11:26am
Quoting mike w
Hey Bill!!! It's great to hear from you!

I'm fantastic! How have you been brother? I hope everything is going great for ya man!

well ya bro am ok tkx for asking
am trading only one pair GBP/JPY

have a nice trade and wish u the best bro keep in touch
  • #1,425
  • Aug 16, 2009 11:27am Aug 16, 2009 11:27am
Quoting warta
well ya bro am ok tkx for asking
am trading only one pair GBP/JPY

have a nice trade and wish u the best bro keep in touch
That's good to hear my man. How's the beast treating you?

And you too! Good luck!
I dream, therefore I become.
  • #1,426
  • Aug 16, 2009 11:33am Aug 16, 2009 11:33am
Well guys, I'm headin out for a bike ride today (it's gorgeous outside) and will be back on later tonight. BTW, I won't be here after tuesday. I'm heading to my beach house down in myrtle for the week. Soooo I'll see ya next monday (if I dont decide to hop on for the dailies while I'm down there)!
I dream, therefore I become.
  • #1,427
  • Aug 16, 2009 12:02pm Aug 16, 2009 12:02pm
Before I go, this is a random chart in 2007 on the gbp/usd. If you can't make gains on these, there is something wrong.
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I dream, therefore I become.
  • #1,428
  • Aug 16, 2009 1:07pm Aug 16, 2009 1:07pm
Quoting mike w
Before I go, this is a random chart in 2007 on the gbp/usd. If you can't make gains on these, there is something wrong.
yes it does show that candles work and kept simple can be very rewarding..i always said it after live experience..its not the charting direction its the trader psychology that traders suffer with..that chart just comfirms it even more for me

have a great week mike..!
  • #1,429
  • Aug 16, 2009 4:45pm Aug 16, 2009 4:45pm
I just took two long orders on the gbp/usd and aud/usd considering the very small risk involved. If they break the 4 hour highs, I'll stay in these until .8375 and 1.6600 respectively. If they break, then I've gained a different type of advantage in the knowledge that these two levels will break.
I dream, therefore I become.
  • #1,430
  • Aug 16, 2009 4:49pm Aug 16, 2009 4:49pm
Quoting mike w
I just took two long orders on the gbp/usd and aud/usd considering the very small risk involved. If they break the 4 hour highs, I'll stay in these until .8375 and 1.6600 respectively. If they break, then I've gained a different type of advantage in the knowledge that these two levels will break.
i have a long on cable as well..but the bearish diverence is a bit worrying hopefully it can see 1.67 b4 a break of 1.65
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  • #1,431
  • Aug 16, 2009 11:13pm Aug 16, 2009 11:13pm
Quoting KissFan
Hey Mike! I enjoyed the pics of your bikes on the other thread.....
which other thread???
Ahhh... this one..




Quoting newborn
found out that hanover has quite complex candle identifier mq4.....
I wrote a simple version, based on premises that price bar only have 4 possible general outcome. up, down, ib and ob. I hope it could be useful, at least for easy spotting ib and ob.
is this the one u used in your charts here (above post)?
Thanks for sharing, will check it out..
  • #1,432
  • Aug 16, 2009 11:29pm Aug 16, 2009 11:29pm
Quoting nAVIN2007
i have a long on cable as well..but the bearish diverence is a bit worrying hopefully it can see 1.67 b4 a break of 1.65
Hey brother, mine actually already closed for a loss of 13 pips. I just set it up to see if that 4 hour pin from friday would hold or not. It was worth the risk. Now I'm just waiting for the REAL PA to show up on the charts.
I dream, therefore I become.
  • #1,433
  • Aug 17, 2009 9:20am Aug 17, 2009 9:20am
long set up on the nzd/usd 4 hour. This accompanies a long setup on the aussie and pending long order on the gbp/jpy when it breaks high.
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I dream, therefore I become.
  • #1,434
  • Aug 17, 2009 11:43am Aug 17, 2009 11:43am
Quoting mike w
long set up on the nzd/usd 4 hour. This accompanies a long setup on the aussie and pending long order on the gbp/jpy when it breaks high.
Aussie and nzd/usd are in on 1 hour bullish bars. I've also shorted the usd/cad based on the hourly BEOVB and will short again on the break of the bearish pin bar on the 4 hour candle.
I dream, therefore I become.
  • #1,435
  • Aug 18, 2009 5:09pm Aug 18, 2009 5:09pm
There are quite a few I4Bs on the dailys right now and I am damn excited to see how they play out. I'm already in trades on a few of them and those are the usd/cad, aud/usd, and nzd/usd. Others that I am watching for the day are the eur/usd and the usd/chf.

I'm on vacation until the end of the week and so I'll resume my testing and journal after I get back.
I dream, therefore I become.
  • #1,436
  • Aug 22, 2009 12:12pm Aug 22, 2009 12:12pm
Still on vacation, but I'll be getting back to this on monday. All those daily I4Bs played out and I'm also checking out the weekly eur/jpy for continuation up to 138 (the top of the weekly range).
I dream, therefore I become.
  • #1,437
  • Aug 22, 2009 7:10pm Aug 22, 2009 7:10pm
Quoting mike w
Still on vacation, but I'll be getting back to this on monday. All those daily I4Bs played out and I'm also checking out the weekly eur/jpy for continuation up to 138 (the top of the weekly range).
Hey Mike,

Did you check out the daily BUOB on EURJPY? 50 fib and 150 EMA confluence and smaller stop than the weekly pin (I'm using the weekly pin as confluence for the daily). The only thing that gives me pause is how choppy things are around this area but I going to the highs is a high probability trade IMO.

Do you always use a full bar stop or do you use reduced stops?

By the way buddy, you've been an inspiration to me over the last year. Read your stuff religiously and really like your attitude and helpfulness. You were one of the first people I private messaged when I started this and you were open hearted and helpful. May you be rewarded for that. Beers are on me if you ever make it out to London.

Aaron
  • #1,438
  • Aug 22, 2009 7:23pm Aug 22, 2009 7:23pm
Quoting TiaForex
Hey Mike,

Did you check out the daily BUOB on EURJPY? 50 fib and 150 EMA confluence and smaller stop than the weekly pin (I'm using the weekly pin as confluence for the daily). The only thing that gives me pause is how choppy things are around this area but I going to the highs is a high probability trade IMO.

Do you always use a full bar stop or do you use reduced stops?

By the way buddy, you've been an inspiration to me over the last year. Read your stuff religiously and really like your attitude and helpfulness. You were one of the first...
Yes sir! I saw that BUOB and I just used the weekly as confluence as well. It's looking solid IMO too for the previous bar highs. I'm going to be waiting for a retracement to 134.50 at the previous bar highs (4 hour) for entry if possible to load my position up a few extra lots. That's only IF the PA stacks up good.

When I get home tomorrow night, I'll be showing up some possible wedge breakouts on the gbp/jpy as well. I think it could be headed for the highs on the weekly too.

In due time on my trades, I'll reduce my stops as we trump S/R areas.

And thanks for the kind words too Aaron. Don't think that it goes unnoticed with how much you've excelled in this business at such a fast rate. If you don't let it get to your head from moving forward so quickly, like I said to Ghous, I think you will be headed for the top and FAST. Have a great night my man!
I dream, therefore I become.
  • #1,439
  • Aug 23, 2009 5:31am Aug 23, 2009 5:31am
hey mike sorry if I bodering you. I'm lurker from j16 thread,but I'm posting too there to contribute and ofcorse to learn more.

I saw that you are posting from time to time there to, and you have talk about those inside bar from the daylies chart and to scroll down to lower TF and to see a close below/above the range and only after that to enter.

my question is this you enter imediately after the candel is finished and close below, or to you enter on a break of this bar that close below the range,hope that this give it a sens.

this is your recent post on your journal
Quoting mike w
There are quite a few I4Bs on the dailys right now and I am damn excited to see how they play out. I'm already in trades on a few of them and those are the usd/cad, aud/usd, and nzd/usd. Others that I am watching for the day are the eur/usd and the usd/chf.

I'm on vacation until the end of the week and so I'll resume my testing and journal after I get back.
(*)I was loking to them to see how they where plaiyng and I see that in every case the price was made a break in the direction of the "child" candel if this candel was bullish than the price was to do a break of the upside an vice versa for the bearish.

are you looking at this as a facrot in your decision to enter or I'm overcomplicate this stuff and should keep it simple?

and to you enter at the break of the mother candel or the break of the child candel?

and are you using 2 order's oane for the break of the upside and 1 for the break of downside,or are you using this factor(*) in wich direction you will enter?

and oane more question about the location where are revel those IB's, isn't thouse important and judge them like we are playng the PB?

I'll looking for your answer and for your results in testing this IB's

thank's again mike from all your contribution here and J16 thread

thank's in advance and wish you the best

  • #1,440
  • Aug 24, 2009 7:09pm Aug 24, 2009 7:09pm
Quoting triger88990
hey mike sorry if I bodering you. I'm lurker from j16 thread,but I'm posting too there to contribute and ofcorse to learn more.

I saw that you are posting from time to time there to, and you have talk about those inside bar from the daylies chart and to scroll down to lower TF and to see a close below/above the range and only after that to enter.

[font=Arial]my question is this you enter imediately after the candel is finished and close below, or to you enter on a break of this bar that close below the range,hope...
Hey how's it going man? I'll be getting back to you sometime tonight or tomorrow. It seems like I can't buy enough time this week... I WILL be sure to get back to this along with my PM's whenever possible.
I dream, therefore I become.
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