LOL ..."To find success ...first you must find yourself."
- Joined May 2010 | Status: HCR-LCS SFP | 6,026 Posts
LOL ..."To find success ...first you must find yourself."
It's perfectly true....
Actually, this frustration is good, I can turn it into a driving kind of energy and use it to persevere.
The goal is well worth attaining, the path is long and hard no doubt but a journey of 10, 000 miles starts with a single step.
Hop, Hop HoooooooooP.
EDIT: Sorry Jarroo No NZD/JPY on FXDD it seems.
Cheer up buddy.They may not of worked out pip-wise but they did work out on the experience you gained from them. Which I can tell you is worth 10,000 pips!
So the next time you see a strong move over a course of a few days and a relative small size PB is presented, you'll know what to do. Pass. . . its that simple. Even if it works out and goes to the moon.
But it you do decide to trade it, you'll know that weight of the move is going against you. That a tight and/or small stop loss, a move to break even quickly or quick target then I'm...
Could you help me with that? What makes a move a strong or a weak move?
Thank you!
Hans
Thanks J16, Sam Seiden, Udine and Jacko
- Joined Feb 2006 | Status: 'Try-hard' extraordinaire... | 2,151 Posts
Bundy's status today: "Waiting..."
Yeah, I posted about that EU R H&S yesterday but Nooone seemed interested in it. I was thinking maybe H&S are a kind of Taboo in this thread or something.
Sorry I missed your post. Also, not as experienced as others to help or else I would.
- Joined Feb 2006 | Status: 'Try-hard' extraordinaire... | 2,151 Posts
I would like to find a broker like FXPRO with more markets...but they don't accept US citizens.
Does anyone know of any brokers that are similar to FXPRO ?
FXPro and similar brokers provide CFD trading. With CFDs being illegal in the USA it's not an option for you.
You should though be able to find a broker that offers many more currency pairs. It's all you need to get going with.
Bundy's status today: "Waiting..."
- Joined Feb 2006 | Status: 'Try-hard' extraordinaire... | 2,151 Posts
Hello jarroo, this is one of my blind spots yet. I surely can tell a very strong from a very weak move. But identifying the ones in between is a real problem for me. The downmove preceding the 1st PB on your GBPJPY daily chart for example: It does not look so strong to me. At least compared to the one before with the big bearish bar (or do you count that in?). So just by its look it would have been a B or an A trade for me.
Could you help me with that? What makes a move a strong or a weak move?
Thank you!
Hans
...or a strong retracement within the bar after an exhaustion move. Sush as a great pinbar that is larger than the bars preceding it. ...and closes back close to it's opening. It went a long way...But iut returned all that distance too.
Bundy's status today: "Waiting..."
Phew......Got my head back on in a semi straight direction after Once Again, Chasing the illusive PPZ indicator.
I don't know what is going on, maybe lack of confidence in my PPZ even though Jarroo and others have been incredibly supportive and encouraging.
More than likely, it is a lack of confidence in myself which I could possibly be making a subconscious excuse that the problem is my PPZ, then I run off all over the web looking for the holy grail indicator, even though I know full well, PPZ can not be drawn effectively by an indicator because...
I'm learning and struggling with PPZ myself. On some messy charts lines make it nearly impossible for me to spot those price flips. So I turned to drawing boxes/zones instead. Maybe this could help you too. I depict my approach in the attached animated
charts. I deliberately chose a pair I had a hard time dealing with and that has not such a clear trend.Some of the lines I drew may be redundant since they are located near BRN.
Another important thing I think is what Mike recently told us about space and traffic. If I combine my not so perfect PPZs with that knowledge I am far better off.
Hang in there, you are doing great!
Hans(olo)
Thanks J16, Sam Seiden, Udine and Jacko
- Joined Feb 2006 | Status: 'Try-hard' extraordinaire... | 2,151 Posts
They allow 0.01 size trade lots.
Ok it's 1 hour... (oops 15 min. hahaha) But I could wait for weeks for the perfect example on the daily where I'd actually remember to tell you.
If there was a good signal off of this area right now... (That ALSO gave good space to work with) ...then you'd do alright over your 'X' amount of trades.
61.8% via fib study of last range move drawn FIRST.
...Then look for a PPZ for confluence that shows good respect.
...Doing it this way for starters at least you aren't taking the first fake outs at the 23.6% AND 38.2% ETC.
50% with great PPZ confluence is awesome too once you recognise good valid bars to signal off of.
I'm short from the 1 hour pinbar trading a range, and when it hit this point I just set my stop to Break even and now I'm watching. My intent is to take profit at the bottom of the range though. I'll see.
(Edit: should have used more striking colours on the fib study sorry...lol. Open the full chart to see it. )
Bundy's status today: "Waiting..."
The bar will be bigger than most of the others preceding it. An even stronger sign is if a bar blasts through levels that 'should' have held better. Like a major PPZ. A great signal is when a bar breaks the immediate trend line of the trend preceding it easily.
...or a strong retracement within the bar after an exhaustion move. Sush as a great pinbar that is larger than the bars preceding it. ...and closes back close to it's opening. It went a long way...But iut returned all that distance too.
Thanks J16, Sam Seiden, Udine and Jacko
- Joined Feb 2006 | Status: 'Try-hard' extraordinaire... | 2,151 Posts
Bundy's status today: "Waiting..."
- | Joined Dec 2009 | Status: Less is More - Mies Van der Rohe | 114 Posts
Hi pinbar,
I'm learning and struggling with PPZ myself. ...
- Joined Feb 2006 | Status: 'Try-hard' extraordinaire... | 2,151 Posts
Here's an example I was looking for in real time. (there ARE better ones... Just wanted to get one down for you)
.
.
I'm short from the 1 hour pinbar trading a range, and when it hit this point I just set my stop to Break even and now I'm watching. My intent is to take profit at the bottom of the range though. I'll see.
Fib is backwards due to using the previous one quickly.
Sorry I have to post this and trade at the same time so a bit rushed. NOT EASY posting and 15 min chart trading at same time.
But Once we hit the pink trend line I don't necessarily need a perfect bounce , as I am happy to see it break through temporarily to the 50 or 61.8% zones that line up with other minor PPZs as well.
The same thing happens on the daily ans so on. Except you have time to think about it and you have time to size your trade properly etc.
(Edit: Stop not at BE. Mistake by not conentrating... somewhere about half way from original. Had to edit it.
) 
Bundy's status today: "Waiting..."
Which pin bars are you referring to? Can you mark them out for me?
Sorry about the chart clarity , people...
It's really annoying how the tight asses at FF won't buy decent storage space to hold uncompressed images.
great graphical explanation, what i notice that when you go to the smaller timezones appears to be less presition with the zones, it is easier to spot, sometimes happens to me that i plot them, then i go back to smaller tfs and start doubting the strength of the zone. This explanation clearly tells me to start trusting the higher tfs ppz. Great Hans
Thanks J16, Sam Seiden, Udine and Jacko
