Wonder if we will see some PA around 1.37 on fiber, conflunces with a ppz. Sorry no chart, at work.
james16 Chart Thread
- #55,242
- Feb 17, 2010 7:31am Feb 17, 2010 7:31am
- | Commercial User | Joined Feb 2008 | 4,633 Posts
Not a full bar loss....never a full bar loss if your trade has ventured into the green and has met the first trouble area.
My stop was reduced to a half bar one after we broke the pin, tested the first trouble area and pulled back.
Was Benji a fool to have moved his stop to BE and miss the big pips. HELL NO!
It's all about understanding and analyzing the risk you are willing/unwilling to take, implementing a dry emotionless trade plan and executing it perfectly regardless of how "neat" or "messed up" the outcome might look....
Another post that newbies can learn from and should take note off.If I had taken that trade I would have been out at B/E too as like Benji I would have moved my stop loss to BE at the first trouble area.
As it was, I decided not to take the trade as I do prefer the first trouble area to be further away from the entry price...but that's just my style.
- #55,243
- Feb 17, 2010 7:36am Feb 17, 2010 7:36am
- Joined Jul 2006 | Status: Trader | 4,090 Posts
I dream, therefore I become.
- #55,244
- Feb 17, 2010 7:58am Feb 17, 2010 7:58am
- | Joined Sep 2009 | Status: Making Money > Being "Right" | 1,811 Posts
I have been away from the charts this week, taking a drive from MI to SoCal 
. One can only tolerate the arctic circle weather for so long.
It looks like the daily yen cross IB's grabbed a HUGE R/R, this one is the best due to the big round number.
. One can only tolerate the arctic circle weather for so long.It looks like the daily yen cross IB's grabbed a HUGE R/R, this one is the best due to the big round number.
Many choose unhappiness over uncertainty.
- #55,245
- Feb 17, 2010 8:53am Feb 17, 2010 8:53am
I have been away from the charts this week, taking a drive from MI to SoCal
It looks like the daily yen cross IB's grabbed a HUGE R/R, this one is the best due to the big round number.
Hope u r enjoying your vac. Just wanted to ask if you are trading Ib or Ib4 setups regularly and how are you finding them? Are they now a part of your trading plan?
berti
PA is where its at!!
- #55,247
- Feb 17, 2010 9:15am Feb 17, 2010 9:15am
- | Joined Sep 2009 | Status: Making Money > Being "Right" | 1,811 Posts
Many choose unhappiness over uncertainty.
- #55,248
- Feb 17, 2010 9:43am Feb 17, 2010 9:43am
Not a full bar loss....never a full bar loss if your trade has ventured into the green and has met the first trouble area.
My stop was reduced to a half bar one after we broke the pin, tested the first trouble area and pulled back.
Was Benji a fool to have moved his stop to BE and miss the big pips. HELL NO!
It's all about understanding and analyzing the risk you are willing/unwilling to take, implementing a dry emotionless trade plan and executing it perfectly regardless of how "neat" or "messed up" the outcome might look.
(gold...
The principal basic material can be used in many different ways, fitting the individual trader's comfort zone.
None of us were right or wrong, as long as we both have a well planed method which has a solid proven past record, regarding what to do in that first trouble area.
There is not just one way of trading this material successfully.
Ben
- #55,249
- Feb 17, 2010 9:55am Feb 17, 2010 9:55am
First target profit hit.
Got in on this trade a bit to late, I saw the tight range during last nights asian session, I knew it was bound to happen.. But sometimes you just need to 'shut down'
aggressive trade this morning..
Got in on this trade a bit to late, I saw the tight range during last nights asian session, I knew it was bound to happen.. But sometimes you just need to 'shut down'
aggressive trade this morning..
lowest draw down possible please.
- #55,250
- Feb 17, 2010 9:56am Feb 17, 2010 9:56am
- Joined Jul 2006 | Status: Trader | 4,090 Posts
I dream, therefore I become.
- #55,252
- Feb 17, 2010 10:11am Feb 17, 2010 10:11am
- Joined May 2009 | Status: LIFE ITSELF | 1,058 Posts
Here is the eurusd chart:
4h chart
This patterns I see them repeat over and over on all time frame,and they work like the usual patterns,which we are familiar with it, like PB BEOB BUOB.....
First we have a big move up/down ( in our case is up) and after that price make a pause, building up the congestion area where after a period of time will appear a imbalance between buyers and sellers.
The imbalance between buyers will appear after she will make a false break in the direction of the big move,which is up
The entry whould be on the break of the low of the box, congestion area,but I like to be more earlier in a trade so I go to a lower TF to find a tune entry,and on 1h charts after the false break we got a PB,and my entry is at break of that PB.
I do this kind of setups all the time they have a huge rr
4h chart
This patterns I see them repeat over and over on all time frame,and they work like the usual patterns,which we are familiar with it, like PB BEOB BUOB.....
First we have a big move up/down ( in our case is up) and after that price make a pause, building up the congestion area where after a period of time will appear a imbalance between buyers and sellers.
The imbalance between buyers will appear after she will make a false break in the direction of the big move,which is up
The entry whould be on the break of the low of the box, congestion area,but I like to be more earlier in a trade so I go to a lower TF to find a tune entry,and on 1h charts after the false break we got a PB,and my entry is at break of that PB.
I do this kind of setups all the time they have a huge rr
- #55,253
- Feb 17, 2010 10:14am Feb 17, 2010 10:14am
- Joined May 2009 | Status: LIFE ITSELF | 1,058 Posts
the same story is with usdchf
hope you can identified those critical zones,which can revers the price
hope you can identified those critical zones,which can revers the price
- #55,255
- Feb 17, 2010 10:25am Feb 17, 2010 10:25am
- Joined May 2009 | Status: LIFE ITSELF | 1,058 Posts
Good stuff triger
, but after I posted mineanyway see that you entered much more lately
"......I knew it was bound to happen....."
all the best!
- #55,256
- Feb 17, 2010 10:27am Feb 17, 2010 10:27am
- Joined Jul 2006 | Status: Trader | 4,090 Posts
I went short at 143.30 now at BE.
Nice move brother! I want to see what happens at 141 again, but we may be in for a longer haul now.
I dream, therefore I become.
- #55,257
- Feb 17, 2010 10:30am Feb 17, 2010 10:30am
- Joined Apr 2009 | Status: Trader | 2,891 Posts
the same story is with usdchf
hope you can identified those critical zones,which can revers the price
Attachment
Attachment
- #55,258
- Feb 17, 2010 10:33am Feb 17, 2010 10:33am
- | Joined Mar 2009 | Status: Forex curious. | 216 Posts
Hi Guys
Just wanted to ask if anyone is seeing some setups developing on the dailies this week or is there a dearth of good PA setups? I don't see much happening at the moment and it's a case of waiting and waiting at the moment. Suppose this is what they call patience and discipline!
I check about 30 pairs everyday on a 2nd demo account. If I see an A++ setup, I go my 1st account and trade it there, otherwise I use the 2nd account to experiment.
I'm only looking to trade Pinbars on my primary account at the moment, though.
The point I'm trying to make is that A++ pinbars on daily don't seem to come along too often.
Time to experiment, then, with the other PA setups while I'm waiting, and maybe I'm just being too picky!
- #55,259
- Feb 17, 2010 10:34am Feb 17, 2010 10:34am
Just closed it for 100 pips, with 30 risked. Though those bar lows would cause problems.
- #55,260
- Feb 17, 2010 10:38am Feb 17, 2010 10:38am
saw your post to
anyway see that you entered much more lately
don't forget that trading is about probabilities
all the best!
Added another short, classical break, reversal sweet kiss before i go down on you. and KABOOM! another 40 pips to the pot of gold.
Have a great day guys.
lowest draw down possible please.