james16 Chart Thread

ARGH!!

Hey User

None of these really interest me all that much. Both locations are not where we ideally want to see pins. That is the eur/aud is at a swing high(we want bullish pins at swing lows), and the eur/aud is at a swing low we want them at swing highs.

The aud/chf looks the best simply from a S/R standpoint.


Best
Mike

Noted. Thanks for the input Mike!

...has the thread and their memebers been moved somwhere else or is just nothing is happening. Not many visitors here unless everybody now is watching the lessons at PF or doing live trading.
Hope I will be able to join one day the famous thread and learn even more, just need to find this extra monies to pay the fee as well as finish reading public part of the thread.
Hope this week will end up with nice profits on the Friday afteroon (I know long way to go) ;o)

I think everyone is watching the Vikings and Packers. I bet Mike is.

Do you guys wait until the candlestick closes before saying the bar is a pin, buob, or other? I've noticed a lot of times where people say a pin is forming but the candle hasn't closed yet and when it does close it usually is not a pin anymore.

At close of candle. But remember some have different feeds.

chris i hope nothing but the best for you but i wont allow anyone to do what you are doing.

whether its here or you tube or your own site it doesnt matter.

i will take the high road and offer once again to even help you get started but its got to be your own stuff. my material is all original compiled over decades of heart wrenching hard work. i use thingsfrom many different honorable men which i give due credit to. all of my methods are original.

nothing i do is stolen. everything you do was stolen from my site which is under full copyright. everything you teach was learned from me. all of that is perfectly fine but your not going to sell it.

you have my word that i will watch every video you do to make sure i only protect what is mine. im even considering leaving your website alone. how many people would be that nice chris? i will not allow you to continue here or any other place other than your own site as long as you continue to sell my material.

i dont understand people like you chris. thank god.

remember this from just a short time ago chris? what happened to this guy chris? you and i both know what happened. spending 25 plus years working your ass off like i did wasnt going to work for you was it? no
its much easier to steal something that works and call it your own.

once again let me say that i forgive you and im still willing to work with you but i need to see something other than a very bad person.

_______________________________________________________________

Jim -

I know you are pounded with emails everyday, most of which are asking questions, and asking for help, but I wanted to take the time to thank you.

As I have only been a member for a few short months, I still have a long way to go. However, for the first time in my short trading career, I feel that I am truly going to make it. Actually, I should say I know. My results are getting better and better. I cannot tell you the frustration I have had in the previous months before finding my new "internet home."

I have to admit, that spending the fee every month kept me away for some time. However, I can honestly say this: It is some of the best money I have ever spent. Your monthly fee has become almost like another "monthly expense" in some ways. A lot like the phone bill. I don't think or worry about it, I just know it's something that is necessary. I feel this group is THAT important. Actually, in all fairness, I believe this group gives me more for my money than the other "bills".

I have been following mbqb11's "My exit strategy" thread lately. He just put out a video today that really opened my eyes on a daily pinbar in the AUD/USD pair I played about 2 weeks ago....I could very easily still be in that trade, and now I know why.

This thread is a perfect example of what you have accomplished. It still amazes me that total strangers (who aren't being paid.) are willing to go way out of their way to post videos to help other strangers. (The fact this amazes me is probably what's wrong with this world. But that's another conversation.)

While yes....I would say your strategies are great, I believe that the true testimony to what you have started is the very fact that the members really do try to help each other. There are so many different people helping others, and paying to be here at the same time. The group is the only place on the net where genuine concern for others is so obvious. In a business where greed and fear drive everything, this is truly an amazing accomplishment.

I just wanted to thank you, and to remind you of how proud you should be of this endeavor.


Your friend and #1 fan,

Clockwork71/Chris

By no means am I giving you an advice, more I am asking other people's opinion.
I, personally, don't care much if the bar closes within a certain pip range from it's open, or how many pips it jumps up or down. I am looking more into the kinetics of the move (even though I do not fully understand myself what it is) - what I am saying is - everyone has different feeds and since market is "biotic", why be "mechanical" about the candle formation?
I personally like to go to lower TF and see what was happening.
Why is PB so significant? Because price tests the H/L then "hangs" in indecision therefore forming a PB. So what if it made decision to move up 5 min b/4 bar close... The PB is no longer technically a PB, but price did what is expected from it in this setup, so by going to lower TF, you will see the kinetics of PA and know how to act.
I am really breaking my head on this, hope it makes sense...
Please correct me if I'm wrong.

Rus.

Hey Rus

I will give you my opinon on this after doing it for awhile. The reason it is significant is it helps us determine the true strength.

Example a pinbar to go short is hanging below a round number. If it has the strength to close OVER the round number, it is showing more bullish strength. If it can not it is showing the bulls weakening. I actually use this as a very important part of my trading. For example outside bars that can close below/above the previous bars low/high respectfully can show a lot more conviction on the upcoming move. Of course location still trumps mostly everything, but I find the closing of a bar very crucial.

Just some thoughts
Mike

Mike, first of, I appreciate your input. I have been sitting on the far benches for a while, absorbing all the material, my head is spinning right now from the amt of info I have gathered. I am glad there is a place like FF where I can exchange my thoughts opently. So all that aside...
I do not argue, that in your example the close is important. Take a different example. Same setup, but price moves lower b/4 the bar close. Technically it can no longer be a PB, but breaking it into smaller bars, one can see that last "jerk" was in the right direction, so rather then scanning chart for triggers, one needs to "understand" the driving force for them.
I was lazy and didn't make my last example too specific.
Hope this clarifies my last post

Rus.

Don't be disappointed about the Gbp/Jpy, she only acted the way she always does. I gave up on being disappointed about her behavior and now accept her for who she is.


On the N/J, I will usually protect profits on the 1st half by following the momentum up (in this case) and lock in 30 pips but I only caught 23 on the 1st half. (G/J momentum ran right up to the 1st target.)

On the 2nd half of the N/J, I placed my stop loss 23 pips below the break even point so that my worst case outcome of this trade would be: Net 0 pips. Sometimes I will place the 2nd half at break even or just below break even to allow for Price retesting.

2nd half stop loss is now under the 65.

Its all about protecting profits and eliminating or reducing risk, my friend.

Jim

Absolutely.

(Desktop> Bundy folder> Enter)

...You've named the trash can under your desk "Bundy Folder" haven't you?

See, I've figured you out fella.

LOL

It's some of the strongest resistance in a long while, in my opinion.

I'm going to love to see a continuation break out on this. If it happens.

Not sure about others here, but a really really great close, as you describe, often has me even using a "round-about the right position size" calculation. lol ..it's that important a factor in my trade selections.

haha

These are also in print form . . . charts included.

There is Mike Folder-A, Mike Folder-B, etc. and Mike Video Folder, subgroups, etc.