DislikedHi Joel, could you clarify what you mean by "freetrade" please? =)
I'm not Joel but I presume he means that he is in a free trade because his stops are now at break even.
DislikedErrr QUESTION (Hands up)
What is the Break and What is the trigger?
Thought the trigger point was the break?
Or after typing this sentence a thought came to my mind,
Trigger = 5 - 10 pips below the break for a sell
DislikedFor you Rac fans out there (like myself). Don't know if he would have been filled because the white box wasn't hit. Blue box is the Daily PB, nice confirmation if the order was filled.Ignored
Dislikedthis kind of subject I was looking for and your post give a lot of common sens of how price move and from where those pull back comes,optaining a better price,and how to interpreted the S/R line
thanks bundy it was worthy read it!!Ignored
thanks for the great post! i'm not sure i understood the quoted part correctly though. What do you mean by "don't look for bar highs as such"? Do you mean that one should look for strong s/r areas and not single bar highs? Could you please expain this a little more precisely?Ignored
DislikedThank you! Great post. I will be re reading this one for sure!
What we are looking for is the violent rejection of price previously as there may still be orders hanging around there hoping that price might go back to that level for them to get in as they missed the boat the first time.
However, when looking to enter the trades, do you take all the minor support and resistance to consideration on how they may bounce off them and go back and hit your stop as pointed out many times by many people
P.S. If you can throw up a few charts on this violent rejection of price that I should be worried about, it would be a great learning post for me.Ignored
DislikedI often see people taking profits very early 0.3R, 0.5R, 0.2R
and sometimes, not often (of course the more experience you are the lesser you get hit by a full bar loss) you take a BIG full bar loss (1R) which totally eats up all your previous profits and even bring you into the losing zone.
What are your takes on this? Hope you guys understand what I am getting at.Ignored
DislikedI'm not Jarroo (but I play him on tv)
I assume he means that the trigger is the low/high of the actual bar that triggered the trade, whereas the break is the entry point of the trade. Meaning that depending on your buffer when price turns around to retest, it is retesting the low/high of the trigger bar. Price doesn't care about where your entry is, but the high/low of the trigger can act as an SR level. Which is why it can be a good idea to nestle your stop a little behind break even.
Hope that helps,
DislikedGot stopped out for another full loss
What did I miss out?Ignored
DislikedI've been uber reclusive watching heaps of your vids and James' over the past.... 2 weeks or so? ^_^
Your "pinbar that hangs out like a cherry" setup, concept of space and trade with the overall broad trend put together was like someone flipped on a really massive high intensity light in my head.
Fiji's stuff made me look inward deeply as well.
James is right. If you can't make money with this material. Forget about trading. =)Ignored
DislikedLooks to be setting up a nice pin bar in between round number s/r's 1.70000 and 1.71000 on daily. Nose has broken through 1.70000 and fib, then retraced. Any thoughts?Ignored
DislikedYep, It's a interesting pin in a RN+little divergence. But we have in a clear downtrend, so this is a counter-trend trade. Also, Look all the resistence that you have above that pin. And I know that Mike would like this trade if the pin would be much bigger.
Move stop to BE very quickly could be a good idea. o better stay out.
DislikedGreat insight, Ikki! I didn't even think about that ceiling of resistance waiting to push a long trade back down. Sometimes you can't see the forest for the trees. I think I'll ride the pine on this one and just watch it play out.Ignored
"The break of the bar must have at least 50 pips of headroom before the first trouble spot"
Dislikedlots and lots of chop, maybe we'll get somthing now that we've got past 1.47Ignored
I've have been trying to follow james PA strategy for awhile, but there are a few points I have trouble with. My biggest problem has been managing trades. I seem to get into trades at a decent time and make some pips then the trade turns on me and I lose all that profit and take a hit.Ignored
Disliked1. When do you guys set your stop loss to break even? Do you do this the second it reaches break even,or do wait until price goes up more so your trade has breathing room?
Disliked2. I live on the west coast so my best trading times are from 12am-8am. I'm usually not around to manage any open trades at this time, and any trades I take usually go my way and then turn on me and I end up with a loss. Do you think I should set a take profit for the trades I will not be around to manage? It hurts to see a trade go my way and the get stopped out early, but it hurts just as much to lose altogether.