DislikedGbp/Chf...1:1...I'm done. (pulling off the order after this post get's put up)
Won't ask much from ranging market
g.Ignored
I got out earlier at 1.6788.
triple top, nice size 2 day pin, big round number / ppz, 50% fibo and space.
Where can I learn more about Price Action like those in James16 charts? 9 replies
DislikedGbp/Chf...1:1...I'm done. (pulling off the order after this post get's put up)
Won't ask much from ranging market
g.Ignored
DislikedOut at breakeven on that one Jarroo, thanks for asking. Price had moved 40 or so pips positive, so I moved stop to breakeven plus 10 pips for more room. Got taken out, then price reversed and dropped again. Same thing happened on yesterday's GBP/USD Daily PB short trade, (price moved 0.8 of a pip up past my stop then dropped!).
I'm still only on page 400 or so of the thread, so maybe I can find some useful trade management ideas further on. Or with a few more months of taking PBs I'll be able to determine my win rate, and work out my own way of...Ignored
DislikedSame thing happened on yesterday's GBP/USD Daily PB short trade, (price moved 0.8 of a pip up past my stop then dropped!).
- TTP -Ignored
DislikedLook for PPZ levels (S/R), Round Numbers (the bold the better), previous Highs and/or previous Lows within the PA setup itself to place your tight stop loss. Using a random 25 pip or 50 pip stop loss doesn't make sense, let the chart tell you where the tight stop loss can be placed.
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DislikedApologies if this has been mentioned before...
What do you guys think about a spin-off thread dedicated to daily charts only?Ignored
DislikedOut at breakeven on that one Jarroo, thanks for asking. Price had moved 40 or so pips positive, so I moved stop to breakeven plus 10 pips for more room. Got taken out, then price reversed and dropped again. Same thing happened on yesterday's GBP/USD Daily PB short trade, (price moved 0.8 of a pip up past my stop then dropped!).
I'm still only on page 400 or so of the thread, so maybe I can find some useful trade management ideas further on. Or with a few more months of taking PBs I'll be able to determine my win rate, and work out my own way of...Ignored
DislikedApologies if this has been mentioned before...
What do you guys think about a spin-off thread dedicated to daily charts only?Ignored
DislikedLOL you caught me
you never know whos behind those pictures
it's better to have this kind of picture they are some sort of stimulant
it helps in your trading activity
wish you the best!!Ignored
DislikedHey g, if this closes as a Weekly PB would you play it to the 1.6500?
I m just saying . . .
Nice trade btw g.Ignored
DislikedApologies if this has been mentioned before...
What do you guys think about a spin-off thread dedicated to daily charts only?Ignored
DislikedWhen I frst read this I thought maybe thats a good idea as there may be less distraction from other time frames IF you are in the earlier learning stages, however to me this thread is not about the time frame.
Its more about learning Patience and Discipline once you have the basic knowledge that Jim set out to teach. It's about learning from the more senior guys about what makes a good set up or not. It's about seeing how other people with experience go about trading this way and growing a circle of like minded friends.
I can see how a daily...Ignored
DislikedI am fine with holding trades that are far away from my stop loss over the weekend. For example I am holding my eur/aud trade and my stop is at b/e 100 or so pips away. Gaps do happen over the weekend though so sometimes closing and reopening and paying the spread is worth it. I tend to do that more with yen pairs more or less
MikeIgnored
DislikedThis happens to me all the time. "If only I would have placed my stop loss above (or below) the given setup I would have been fine." I would say to myself. So I do tend to apply this principle when high quality setups are presented.
Your tight management approach it is a valid one. Here's some ideas on this style:
Tight trade management can be defined as anything tighter then the ideal stop loss placement . . . which is above or below the given PA setup.
Look for PPZ levels (S/R), Round Numbers (the bold the better), previous Highs...Ignored