DislikedYeah, it really can be amazing how fast some of these people can build up an account.Ignored
lets see if i could won those 2000$.
(even 100$ is not bad )
Where can I learn more about Price Action like those in James16 charts? 9 replies
DislikedYeah, it really can be amazing how fast some of these people can build up an account.Ignored
DislikedHey Mikey,
Please do not get me wrong. I am not the one which is going to tell you what to do. Just wanna let you know that James has related to this exact issue many times in his videos, and even more times in his posts.
He says that we, the small account holders have to take a choice. His advice for us making the choice is: open a large demo account (or micro real account), treat it like it is real money, and in the meantime save enough money till we get to the point that we can take only 1-3 slam dunk trades each month, manage them correctly,...Ignored
DislikedHello Ben,
I am aware of Jim's opinion on this. And if i could find 3 A+ trades a month I'd be happy. Even with small account which I can afford (2000-3000 euros)...Ignored
DislikedAs always, Patrick's (Seeking Light) words struck a chord and I thought that if I was a newcomer to the thread I wouldn't be able to see the method. So I figured I'd post a few more charts. This comes with the caveat that I am still finding my way and no zen master of this stuff. I won't post all my trades, I do that on PF. But I'll try and post a few more that illustrate what I learnt from James.
There are tons of variations posted here and threads do evolve organically but one of the mistakes I am prone to making and I know others do too, is...Ignored
DislikedHey Mikey,
I got ya buddy.
I do not have much time right now. Hopefully tomorrow or at the weekend I will post for you a detailed post of all the trades I would consider in the "A" category for 2009, including management plan options (I have already done this for myself, so it won't be a problem going through it again for ya).
BenIgnored
DislikedAs always, Patrick's (Seeking Light) words struck a chord and I thought that if I was a newcomer to the thread I wouldn't be able to see the method. So I figured I'd post a few more charts. This comes with the caveat that I am still finding my way and no zen master of this stuff. I won't post all my trades, I do that on PF. But I'll try and post a few more that illustrate what I learnt from James.
There are tons of variations posted here and threads do evolve organically but one of the mistakes I am prone to making and I know others do too, is...Ignored
DislikedIgnored
DislikedHuh, they only started this afternoon with 10k and the leader currently already has turned it into 21k?? Wtf...
I'm sure they've taken solid trades with responsible riskmgt.Ignored
DislikedThat's pretty much what I look for. Good bars with strong confluence, that also have room to run to first target. The I go to break even and look for bigger moves.Ignored
DislikedThis was a good trade for me, I saw the 143.65 as a strong PPZ and it held as support for a while, this was the first test as resistance and I watched it try again and again to get above 143.60 but it just couldn't. I played it as a aggressive small stop above 143.65 and it finally dropped to those bar lows. 100 pips (3%).
I also tried the same with Fiber but it blew away the 1.37 level fro -30 pip loss (1%), anyone know why, I should check the news I guess.
This is all on demo.
ChatzIgnored
DislikedHuh, they only started this afternoon with 10k and the leader currently already has turned it into 21k?? Wtf...
I'm sure they've taken solid trades with responsible riskmgt.Ignored
DislikedContests are useless usually because they don't account for the odds of repeating your performance. Say 100 people played roulette and we ranked the winner in a 'contest'. They all bet on a single number. Most of them lose....but one of them increased his 'account' by 3700% on one 'trade'. What a hero he must be!
You get the point I'm making here.
High risk behaviour going for the long shot is what these contests reward. There's another word for that. The Lottery.
Sustained growth, year in, year out. That's much harder to achieve. In my opinion...Ignored
DislikedChatzi I don't understand what you were trying to do with this fiber trade. There is a nice BEOB 3 bars back telling you to short, and you traded long?
What I really don't understand is how you responded to a post where TiaForex was agreeing with SeekingLight against people posting things that don't have anything to do with basic price action trading, with two examples of (seemingly) not price action based trades.
I'm not trying to be rude but this seems like a great post for your journal, but doesn't really seem educational or helpful...Ignored
DislikedOh don't worry, I get your point, and I agree. This is pure gambling. But still, by being able to see the trades and the risks that were taken, I think one would be able to separate pure gamblers from those who could, or are, doing quite well in ordinary trading, and who are now only taking excessive position sizes in order to win.Ignored
DislikedHi Cory,
Regarding whether my post is suitable, I disagree with you, its a valid J16 trade, this thread is full of them going back to 2006, from some of the best traders here. We are all at different levels here, I don't think we have to dumb down the thread, we need to give people more credit, they just have to read the first post.Ignored
DislikedHi Chatzi,
I apologize, I don't think I worded my response very well and didn't intend for it to be rude or hurtful....Ignored