Time to make the kill.
I believe . . .
james16 Chart Thread
- #41,721
- Aug 21, 2009 8:02am Aug 21, 2009 8:02am
- Joined Jan 2008 | Status: <<--(-$-)-->> | 5,571 Posts
- #41,722
- Aug 21, 2009 8:03am Aug 21, 2009 8:03am
- Joined Jun 2006 | Status: Vivere! | 1,034 Posts
Missed a few sitters today, was out at the beach fishing
I expect STO to be all over this...
G
That would have been one to consider, but to grab these in such a tight range, I would have like that OB to poke down outside of the range into the neighborhood of 1.4200. See the blue line and 'X'.It went nice too. interestingly, to the Bemac 61.8% ICCE...
...
I'm pretty much done with all this ...
- #41,723
- Aug 21, 2009 8:12am Aug 21, 2009 8:12am
- Joined Jan 2008 | Status: <<--(-$-)-->> | 5,571 Posts
Not at that time of night...
It went nice too. interestingly, to the Bemac 61.8% ICCE...
...
Thnx.
I believe . . .
- #41,724
- Aug 21, 2009 8:14am Aug 21, 2009 8:14am
Here is another rant from me :-)
Before two nights ago I hadnt taken a trade in about a month, I was on vacation for about 2 weeks and the other 2 weeks were just no trades for me.
I took the EUR CAd Daily pin the other night, It may not have been an A+ because it was in a bit of traffic. But nice pin, round number, with trend, BANG ! for me anyway. My plan was to use a bar break stop when it dropeped about 30 pips. I did which reduced my risk. But before I went to bed last night I dropped down to the 4 hr and ot scared becasue there were pins...
Personally I don't think you have done anything wrong about moving your stop to BE. How could you know it will take off for 100 pips in the future?
On the 4H you have a clearly uptrend. See the strong support under your pin. I wouldn't take a risk in a situation of trading against the trend with a strong PPZ under me.
In this situation, if I would take this pin, the first thing that will jump out at me will be that recent choppy area. I always box those areas so I can see them clearly in my mind. One I hit the bottom of the consolidation, I will or take full profit, OR move stop to BE. I will never let a potential winner to turn into a loser in those conditions I have mentioned above. We have the knowledge of support and resistance. Lets use it smartly.
Don't let it bother you! Jim says BE is a winner. I think, mentally, being stopped out at BE is better than taking a lose.
Just be patient and take the good ones
(I like my pins at the end of a rally, and not of a consolidation. A sharp turn.)Good luck,
Ben
- #41,726
- Aug 21, 2009 8:34am Aug 21, 2009 8:34am
WOW UJ is really shooting up like mad! didn't see it...anyway I prefer not taking more that one JPY pair at the same time cause they are too much the same. Lets see what I can get out of the GY
Ben
Got out with 185 pips gain here...Yippee!
I have entered the trade based on triple bottom with strong bullish divergence (I like these setups), and a BUOB off a round number.
So we have the combination of triple bottom, divergence, round number and BUOB.
I was trailing my stops with the BAT on the 1H, till I saw that HUGE BUB. So I decided I will go down to the 30min and placed my stop at a round number, which is a PPZ. When I saw that 30min bearish pin bar I knew I don't want to be in this trade anymore.
My 12 winner out of 13 trades!! But unfortunately the daily GBPNZD looks like it's going to take out with a lose very soon....ohh well!
Ben
- #41,727
- Aug 21, 2009 8:53am Aug 21, 2009 8:53am
- Joined Jan 2008 | Status: <<--(-$-)-->> | 5,571 Posts
I believe . . .
- #41,728
- Aug 21, 2009 8:56am Aug 21, 2009 8:56am
- Joined Jan 2008 | Status: <<--(-$-)-->> | 5,571 Posts
Got out with 185 pips gain here...Yippee!
I have entered the trade based on triple bottom with strong bullish divergence (I like these setups), and a BUOB off a round number.
So we have the combination of triple bottom, divergence, round number and BUOB.
I was trailing my stops with the BAT on the 1H, till I saw that HUGE BUB. So I decided I will go down to the 30min and placed my stop at a round number, which is a PPZ. When I saw that 30min bearish pin bar I knew I don't want to be in this trade anymore.
My 12 winner out of 13 trades!! But...
It's great when you can get your mind to do exactly what should be done eh?
I believe . . .
- #41,729
- Aug 21, 2009 9:15am Aug 21, 2009 9:15am
Absolutely great going Ben.
It's great when you can get your mind to do exactly what should be done eh?
Sometimes I feel I get too much braggart. I don't mean that...but it's a weird situation. I am 16 years old (yea, there is someone younger than you here LOL) hardly 2-3 months trading and its too easy.
I see many people over another forum crying after years of time and money wasted.
At least I got rid of those PONZI schemes and MLMs I was into
I think it's the hand of god Johnny introduced me to this thread! I'm sure.
Ben
- #41,730
- Aug 21, 2009 9:19am Aug 21, 2009 9:19am
- Joined Jan 2008 | Status: <<--(-$-)-->> | 5,571 Posts
Yea absolutely!
Sometimes I feel I get too much braggart. I don't mean that...but it's a weird situation. I am 16 years old (yea, there is someone younger than you here LOL) hardly 2-3 months trading and its too easy.
I see many people over another forum crying after years of time and money wasted.
At least I got rid of those PONZI schemes and MLMs I was into
I think it's the hand of god Johnny introduced me to this thread! I'm sure.
Ben
I don't know what else to say Ben except that you fascinate me...you're way beyond your years.
Ghous.
I believe . . .
- #41,731
- Aug 21, 2009 9:19am Aug 21, 2009 9:19am
- | Commercial User | Joined Aug 2006 | 12,004 Posts
Yea absolutely!
Sometimes I feel I get too much braggart. I don't mean that...but it's a weird situation. I am 16 years old (yea, there is someone younger than you here LOL) hardly 2-3 months trading and its too easy.
I see many people over another forum crying after years of time and money wasted.
At least I got rid of those PONZI schemes and MLMs I was into
I think it's the hand of god Johnny introduced me to this thread! I'm sure.
Ben
You sir have a bright future you have no idea.
I swear every 6 months someone younger and younger is TRADING! Soon it will be a 7 year old on here passing on this info
Kudos to you
Mike
- #41,732
- Aug 21, 2009 9:37am Aug 21, 2009 9:37am
16?? Yeah well, knew I wouldn't be the youngest here forever...but never thought it would be a 16 year old beat me at it.
I don't know what else to say Ben except that you fascinate me...you're way beyond your years.
Ghous.
16?! WTF! I couldn't even post what I was doing at 16.
You sir have a bright future you have no idea.
I swear every 6 months someone younger and younger is TRADING! Soon it will be a 7 year old on here passing on this info
Kudos to you
Mike
But Mike, I think I told you, I'm just love learning. You, james and the seniors around are the real amazing people here! Thanks again for all of you!
Ben
- #41,733
- Aug 21, 2009 9:57am Aug 21, 2009 9:57am
- Joined May 2009 | Status: LIFE ITSELF | 1,058 Posts
Yea absolutely!
Sometimes I feel I get too much braggart. I don't mean that...but it's a weird situation. I am 16 years old (yea, there is someone younger than you here LOL) hardly 2-3 months trading and its too easy.
I see many people over another forum crying after years of time and money wasted.
At least I got rid of those PONZI schemes and MLMs I was into
I think it's the hand of god Johnny introduced me to this thread! I'm sure.
Ben
WOW BEN only 16......as mike says WTF
you will gone further more for sure in this business
you really learn faster, I have read your contribution here on j16 thread and you surprise me with your 16 years,I never thought that a guy like your age can do this stuff
wish you the best
PS: just whent to your profile an sow that you are from Israel, now I know whay you people are the best bankers from the world
- #41,734
- Aug 21, 2009 9:58am Aug 21, 2009 9:58am
- Joined Jun 2006 | Status: Vivere! | 1,034 Posts
16?! WTF! I couldn't even post what I was doing at 16.
You sir have a bright future you have no idea.
I swear every 6 months someone younger and younger is TRADING! Soon it will be a 7 year old on here passing on this info
Kudos to you
Mike
I'm pretty much done with all this ...
- #41,735
- Aug 21, 2009 10:01am Aug 21, 2009 10:01am
- Joined Jun 2006 | Status: Vivere! | 1,034 Posts
Yea absolutely!
Sometimes I feel I get too much braggart. I don't mean that...but it's a weird situation. I am 16 years old (yea, there is someone younger than you here LOL) hardly 2-3 months trading and its too easy.
I see many people over another forum crying after years of time and money wasted.
At least I got rid of those PONZI schemes and MLMs I was into
I think it's the hand of god Johnny introduced me to this thread! I'm sure.
Ben
the way we made money back then was by cutting grass, shoveling snow and painting. I owned a bunch of bonds that were given to me, but the act of trading was unheard of to me.
I was chasing girls, smoking the funny stuff and playing Soccer. Simple times.
take your time with this Benji - you have a ton of it. You are in a great spot right now.
I'm pretty much done with all this ...
- #41,737
- Aug 21, 2009 10:06am Aug 21, 2009 10:06am
- | Commercial User | Joined Aug 2006 | 12,004 Posts
- #41,739
- Aug 21, 2009 10:53am Aug 21, 2009 10:53am
PS: just whent to your profile an sow that you are from Israel, now I know whay you people are the best bankers from the world
Thanks guys.
SP, I learned a ton from your posts only (you too jarroo)
Ben
- #41,740
- Aug 21, 2009 10:59am Aug 21, 2009 10:59am
- Joined Jul 2007 | Status: Screw Long Term 5min For Life! | 1,259 Posts
Hi Ryan,
Another question while you're here. And thanks again for taking the time to contribute.
When you trade a fast market like the 5M and 3M what were your contingencies? You must have had backup laptops with wireless connections and a generator. After all, one power spike and you could lose big with that stuff.
Also, I've always wondered, do you have time enough to enter a stop loss and take profit on those 5M/3M markets. Or do you just buy/sell to market and edit once the order is in (which always sounds dangerous).
When I thought...
I just have my broker on a cell phone, also I always put in stops the same time I place my trade I have been burned before on that years ago and it was easy to fix. The only risk I have now is when I adjust my stops but over the years the GOOD brokers don't go down, In 1997-1999 Interactive Brokers had some growing pains
Also you had to use math then too like 16 3/4 not 16.75 lolAlso about doing all that work, I am smart and lazy. I have a print out of what account balance = what risk and leave it on my desk, I have pre set stops and losses and I am good at math so if I have to adjust a tighter stop I just work the number in my head for the units, If you are trading say 2.5 million units and move your stop from 10 to 8 because that's resistance you just add 20% more so that's .5 then it's 3 million units, I round to the nearest 100k to make it easier but I also match the trade in DBFX because Oanda does not like you going over 10 million units and I like to hedge it too just in case something happens.
Keep taking CT trades, I need more money