Ryan will be all over this..
Was in the shower when that one came up LOL story of my life. One thing I am getting good at now is not caring about missing one because I will have a setup again
Keep taking CT trades, I need more money 
james16 Chart Thread
- #41,641
- Aug 20, 2009 12:10pm Aug 20, 2009 12:10pm
- Joined Jul 2007 | Status: Screw Long Term 5min For Life! | 1,259 Posts
Was in the shower when that one came up LOL story of my life. One thing I am getting good at now is not caring about missing one because I will have a setup again
- #41,642
- Aug 20, 2009 12:29pm Aug 20, 2009 12:29pm
Was in the shower when that one came up LOL story of my life. One thing I am getting good at now is not caring about missing one because I will have a setup again
I know what you mean..that one took me out @ cost.. was looking for it to go to bottom of channel.
NEXT....
- #41,643
- Aug 20, 2009 1:18pm Aug 20, 2009 1:18pm
that one took me out @ cost.. was looking for it to go to bottom of channel.
NEXT....
- #41,645
- Edited 3:02pm Aug 20, 2009 1:58pm | Edited 3:02pm
sweet charts ryan. it's enjoyable to see actual trades other than my own usdjpy.
im waiting watching hoping and wishing the daily bar will push me down.
this week has been irregular price action i dont know why.
im waiting watching hoping and wishing the daily bar will push me down.
this week has been irregular price action i dont know why.
- #41,647
- Aug 20, 2009 6:15pm Aug 20, 2009 6:15pm
Hello,
I study PA for a while - I'm still amazed, really... Thanks James and all of you for all those information!
I'd like to post my chart and have some opinions about the trade management, SL strategy, etc.
Nice PINBAR, daily TF, confluence with monthly pivot and fibo 38.2
For me A+ trade - am I right?
I enterd this trade short 1.5579 earlier, because on H4 outside bar was formed, so I decided to take a sort. It went sideways for a while and the bang... down Now I have SL on BE.
What would you recommend to do next? I just train on demo account, so no worries, but I try to treat it as a real live account.
Now I do not see any serious resistance below the price. It looks like the price is in stall because the MA365 is on the way.
Any suggestions? I'm asking about it, because I'd like to hear some opinions and things, that I probably did not noticed.
(Small chart description. I put all those arrows on bars that confirm my decision - price down.)
I study PA for a while - I'm still amazed, really... Thanks James and all of you for all those information!
I'd like to post my chart and have some opinions about the trade management, SL strategy, etc.
Nice PINBAR, daily TF, confluence with monthly pivot and fibo 38.2
For me A+ trade - am I right?
I enterd this trade short 1.5579 earlier, because on H4 outside bar was formed, so I decided to take a sort. It went sideways for a while and the bang... down
Now I have SL on BE.What would you recommend to do next? I just train on demo account, so no worries, but I try to treat it as a real live account.
Now I do not see any serious resistance below the price. It looks like the price is in stall because the MA365 is on the way.
Any suggestions? I'm asking about it, because I'd like to hear some opinions and things, that I probably did not noticed.
(Small chart description. I put all those arrows on bars that confirm my decision - price down.)
- #41,648
- Edited 6:47pm Aug 20, 2009 6:30pm | Edited 6:47pm
Forex dead? No trades? The answer could be closer than you think
*edit* 6 cents per lb might not sound like much... but take into account that each contract is for 37,500lbs
I've made about $9k demobux off the last two pins. And that is with *missing* the big bullish outside enveloping awesomebar in the middle.
As of next week, softs are going live
*edit* 6 cents per lb might not sound like much... but take into account that each contract is for 37,500lbs
I've made about $9k demobux off the last two pins. And that is with *missing* the big bullish outside enveloping awesomebar in the middle.
As of next week, softs are going live
When you have to shoot, shoot. Dont talk.
- #41,651
- Aug 20, 2009 7:04pm Aug 20, 2009 7:04pm
Hello,
I study PA for a while - I'm still amazed, really... Thanks James and all of you for all those information!
I'd like to post my chart and have some opinions about the trade management, SL strategy, etc.
Nice PINBAR, daily TF, confluence with monthly pivot and fibo 38.2
For me A+ trade - am I right?
I enterd this trade short 1.5579 earlier, because on H4 outside bar was formed, so I decided to take a sort. It went sideways for a while and the bang... down
What would you recommend to do next? I just train on demo...
I think 1.534ish is an area to watch. There might be some areas before then.
- #41,652
- Aug 20, 2009 7:32pm Aug 20, 2009 7:32pm
- | Commercial User | Joined Aug 2006 | 12,004 Posts
Hello,
I study PA for a while - I'm still amazed, really... Thanks James and all of you for all those information!
I'd like to post my chart and have some opinions about the trade management, SL strategy, etc.
Nice PINBAR, daily TF, confluence with monthly pivot and fibo 38.2
For me A+ trade - am I right?
I enterd this trade short 1.5579 earlier, because on H4 outside bar was formed, so I decided to take a sort. It went sideways for a while and the bang... down
What would you recommend to do next? I just train on demo...
This is my exact chart I had already marked up for someone else prior to this trade executing. The blue are the trouble areas. First one was hit and stopped right there. Is it wrong to hold a trade? No. It's more important to understand where these areas are and then react accordingly. I personally use information such as the size of a bar to decide to hold or not through these areas. This is one such size bar that would put me in the take profit mode. Simply for my style that is.
Hope that helps
Mike
- #41,653
- Aug 20, 2009 7:33pm Aug 20, 2009 7:33pm
- | Commercial User | Joined Aug 2006 | 12,004 Posts
Forex dead? No trades? The answer could be closer than you think
Attachment
*edit* 6 cents per lb might not sound like much... but take into account that each contract is for 37,500lbs
I've made about $9k demobux off the last two pins. And that is with *missing* the big bullish outside enveloping awesomebar in the middle.
As of next week, softs are going live
- #41,655
- Aug 20, 2009 7:52pm Aug 20, 2009 7:52pm
Forex dead? No trades? The answer could be closer than you think
Attachment
*edit* 6 cents per lb might not sound like much... but take into account that each contract is for 37,500lbs
I've made about $9k demobux off the last two pins. And that is with *missing* the big bullish outside enveloping awesomebar in the middle.
As of next week, softs are going live
I think tradestation my well end up being my Christmas present....
- #41,657
- Aug 20, 2009 8:00pm Aug 20, 2009 8:00pm
Would like to hear views on how some of you go about setting trailing stops. Some possible scenarios:
For instance, do you set the trailing stop pip size equal to the length of the PA? What are the common issues with using trailing stops?
I have three different kinds of trails I use, depending on the situation...
(in order of complexity)
a) 20 pip stop. Simple, easy, automatic and I dont have to think. Downside is that it is arbitary as hell
b) 2 bar trailing stop - aka 'the mike'. If I dont have any clear signals, but dont really think there is much room to run, I set a stop at the high/low 2 bars back. Its straightforward, but only really good with small bars - with big bars it can give too much back to Mr Market for my liking
c) my favourite trailing exit strat is to jump down a timeframe (or two, sometimes) and base my stop on the PA there. So, for instance, if I have a position on a daily, I might move the stop to just outside the last swing high/low on the 4H. Usually gives a good balance of tight stops and room for the trade to move. Downside is that it is more work.
I've also been experimenting with modifications of (a) but trying to make it a little less arbitary by using either the average true range of the pair on that timeframe, or taking the volatility of the pair and putting the stop just outside 1/2/3 standard deviations.
To be honest, neither are working as well as (b) or (c) at present. lol.
When you have to shoot, shoot. Dont talk.
- #41,658
- Aug 20, 2009 8:11pm Aug 20, 2009 8:11pm
Hey P
This is my exact chart I had already marked up for someone else prior to this trade executing. The blue are the trouble areas. First one was hit and stopped right there. Is it wrong to hold a trade? No. It's more important to understand where these areas are and then react accordingly. I personally use information such as the size of a bar to decide to hold or not through these areas. This is one such size bar that would put me in the take profit mode. Simply for my style that is.
Hope that helps
Mike
Thanks very much, appreciate it. It helped, indeed. I learned how to spot some S/R zones better. We'll see what will happen. My decision - I'll reduce my position and leave 50% of it to "stay alive"
- #41,659
- Aug 20, 2009 8:22pm Aug 20, 2009 8:22pm
Awesome stuff Joel. What platform do you use for charting futures?
I think tradestation my well end up being my Christmas present....
I'm kinda jealous. I had a play with TS8 once at a (ex) friend's place, and it was pretty kickass. He does a bunch of stock index arbitrage, and had it set up to analyse the spred between the index and a representative basket, then jump up and alert when they got out of line - at which point you could automatically buy the whole basket of (23?) stocks and short the index futures instantaneously, then track the spread and close when it got below a preset trigger. The whole thing was just incredibly powerful.
The option chain analytics, if you are into that kinda thing, were cool as hell as well. Not to mention the 'press button for calendar spread'.
I think it is probably way too hardcore for me though, lol. I doubt I would even use (or know how to use) 1% of its capabilities. Although it would almost be worth it just to able to press a button and get a H2 / H8 / D2 forex chart *shakes fist at MT4*
When you have to shoot, shoot. Dont talk.