Adi, first of all, see the traffic in blue.
The buob 2 bars before was better
Edit: my fta was too fast signed. I hope you understand my point, we are trading into a minor ppz.
)Best
Mike
james16 Chart Thread
- #84,441
- Jan 4, 2011 9:23am Jan 4, 2011 9:23am
- | Commercial User | Joined Aug 2006 | 12,004 Posts
)Best
Mike
- #84,442
- Jan 4, 2011 9:24am Jan 4, 2011 9:24am
Those areas have not been 'dealt with' already Adi.
The close on PA bars is very important. For me it can be the trade maker/breaker. If I simplify the 'areas' down to the 9500 RN, notice how the pin bar low touches the RN and closes above it. The close is above is not a great sign of bearish strength. Had it closed below the 9500 the BUOB would not have been too much of a worry at all, because then you have the added protection from the 9500 quite possibly acting as resistance.
The BUOB in comparison is a much better trade. Do you...
Look forward to learning more from you and all other great traders here.
Dreams are hard to follow, but don't let anyone, tear them away...
- #84,443
- Jan 4, 2011 9:27am Jan 4, 2011 9:27am
- | Commercial User | Joined Aug 2006 | 12,004 Posts
Hey guys, first time poster. I'll try and more properly introduce myself later.
I remember James mentioning once that he used a website that would send him a text message when price hit a certain level on a certain pair. Do you guys use something like that, and if so, could you hook me up with the site?
Thanks alot.
Welcome
That one was alertfx.com I believe but this one appears(haven't used it) to be better with more pairs
http://www.dailyfx.com/charts/mobile_price_alerts/
Best
Mike
- #84,444
- Jan 4, 2011 9:27am Jan 4, 2011 9:27am
- | Joined Jul 2010 | Status: MAKE IT HAPPEN | 2,220 Posts
- #84,445
- Jan 4, 2011 9:29am Jan 4, 2011 9:29am
- Joined Jan 2008 | Status: In Fibonacci We Trust | 2,397 Posts
Buying @ 109 was incredible.
I came in right there, stop @ 108.75, closed half and moved stop to B/E @ 109.44, final target was 109.90....
excellent R/R
edit: only risked 0.5% because of the season
Great talking to you again my friend. I think that the 111 zone for EJ is gonna happen and maybe higher. The higher the better. I will be committed to building shorts around there for a move down to the August lows.
K.I.S.S.
K.I.S.S.
- #84,446
- Jan 4, 2011 9:34am Jan 4, 2011 9:34am
Hey Kristopher. Yes is just part of my plan, is like if I would be in a trade from this BUOB I would still be in... (so is like I don't fade myself)
Just want to keep things in logic (as much as possible). So I am not fading immidiate PB or BUOB never, until it reached it's target (which is next S/R as I see them).
Yay, I get what you mean. It happens to me all the time too, just like if I have taken a bullish PA, then immediately it showed a bearish PA on the next bar, there always comes a struggle to me whether I should have quit the bullish trade right away.
Dreams are hard to follow, but don't let anyone, tear them away...
- #84,447
- Jan 4, 2011 9:36am Jan 4, 2011 9:36am
- Joined Jan 2008 | Status: <<--(-$-)-->> | 5,571 Posts
Hey Ghous, thanks for your comments, can you please clarify why have you marked those areas right there, not a little higher or a little lower, or the whole area?
Will you keep your opinion if this shoots all the way down? I mean no offence, but I really want to be objective...
Objective to me is having some kind of rule for plotting those areas, not just to sound good and look good but to make money (hopefully) from it in the future....
I didn't dump the demarcation of the whole area as such, I just simplified it to a RN that was running right through your area, and doing that is a good idea because it makes things so much easier to identify and manage. And again I am not curve fitting here. Plot the 9500 on your chart and scroll back to see what I mean.
The idea is not to avoid every price flip out there, but to avoid the major ones and manage your trade around the minor ones. My point here was that the pin bar is headed into a 'major' PPZ and is thus an easy pass. It can drop like a stone if it wants to, again the result on a single setup is always irrelevant in determining/testing your trading rules.
g.
I believe . . .
- #84,448
- Jan 4, 2011 9:39am Jan 4, 2011 9:39am
Hi Guys,
Having made it to page 210 I see a few traders use PA on non Forex instruments such as oil etc. My broker (which is a spreadbetting company) offers the following . So it allows me to trade almost anything that has a market
.
My question is there any reason the method in this thread can not be applied to all of these markets? I am talking about the daily and longer btw.
Having made it to page 210 I see a few traders use PA on non Forex instruments such as oil etc. My broker (which is a spreadbetting company) offers the following . So it allows me to trade almost anything that has a market
. My question is there any reason the method in this thread can not be applied to all of these markets? I am talking about the daily and longer btw.
Kind Regards
Chris
- #84,450
- Jan 4, 2011 9:40am Jan 4, 2011 9:40am
- | Commercial User | Joined Aug 2006 | 12,004 Posts
Hi Guys,
Having made it to page 210 I see a few traders use PA on non Forex instruments such as oil etc. My broker (which is a spreadbetting company) offers the following . So it allows me to trade almost anything that has a market
My question is there any reason the method in this thread can not be applies to all of these markets? I am talking about the daily and longer btw.
Price is price
If it moves we can trade it(pretty much). James is much newer to forex then the other markets he comes from trading with the same techniques
Mike
- #84,451
- Jan 4, 2011 9:48am Jan 4, 2011 9:48am
- Joined Jan 2008 | Status: <<--(-$-)-->> | 5,571 Posts
Since we've recently had some videos posted, here's something for the newbies in the triumph of the New Year spirit
(pardon the quality, putting it up on youtube erodes the quality quite a bit)
g.
(pardon the quality, putting it up on youtube erodes the quality quite a bit)
Inserted Video
g.
I believe . . .
- #84,452
- Jan 4, 2011 9:49am Jan 4, 2011 9:49am
- | Joined Jul 2010 | Status: MAKE IT HAPPEN | 2,220 Posts
Damn, get out out of that "hope I am not being offensive" shell. You're not being offensive at all. In fact a very good question IMHO.
I didn't dump the demarcation of the whole area as such, I just simplified it to a RN that was running right through your area, and doing that is a good idea because it makes things so much easier to identify and manage. And again I am not curve fitting here. Plot the 9500 on your chart and scroll back to see what I mean.
The idea is not to avoid every price flip out there, but to avoid the major ones and...
Ah now I see it. Sorry I didn't notice the BRN itself. Every BRN to me counts always. No matter how much price traded "above and below".
I meant this. I have some PPZ that were dealt with - here I mean the PPZ where price has traded above and below this area. So "dealt" twice. The logic here is that all possible stops were collected from both sides. I have shown the way I plot them before too.. I will find the pic in a minute.
I really like this idea to simplify the PPZ concept, it helps reduce a lot of noise in the head.
Of course I'm not saying this is right, other ways are wrong. Is just I think could work for me. For exapmle Pinbars and Jarroo's ways of plotting PPZ, sometimes look perfect to me yes, but I know for sure I would not be able to trade that kind of style... not for me.
here is the pic. that's what I meant saying "dealt with". Of course BRN could never be dealt with, as we know it is there for other reasons (mass psychology).
http://cdn.forexfactory.com/attachme...1&d=1290244892
- #84,453
- Jan 4, 2011 9:54am Jan 4, 2011 9:54am
Hey Chris
Price is price
If it moves we can trade it(pretty much). James is much newer to forex then the other markets he comes from trading with the same techniques
Mike
With all those options on daily then I can really choose carefully and only take the primo ones.
Kind Regards
Chris
- #84,454
- Jan 4, 2011 9:56am Jan 4, 2011 9:56am
- | Commercial User | Joined Aug 2006 | 12,004 Posts
Thank Mike,
With all those options on daily then I can really choose carefully and only take the primo ones.
Now the cliches like
"trading is waiting"
"the best trade is when I sit on my hands"
etc etc
Can make some sense. All cliches have some kind of good truth somewhere in them. As much as I am not a cliche man
Mike
- #84,455
- Jan 4, 2011 9:58am Jan 4, 2011 9:58am
ah yes
Now the cliches like
"trading is waiting"
"the best trade is when I sit on my hands"
etc etc
Can make some sense. All cliches have some kind of good truth somewhere in them. As much as I am not a cliche man
Mike
My version is the cheetah just looks for already dead antelopes, bugger all that chasing.
Kind Regards
Chris
- #84,456
- Jan 4, 2011 10:01am Jan 4, 2011 10:01am
- | Commercial User | Joined Aug 2006 | 12,004 Posts
Hi guys,
This is the trade I like today...
We´ve got..
+Rejection from the 1.75 area BRN, possible retest after the breakout
+Divergence, making lower highs and higher highs on RSI
+61.8 Fib from last swing and 38.2 from 1.80 swing
+We´ve got the 150ema above
+Nice big PB
+Space for a down move
My 1st FTA will be around 1.7360 although due to the size of PB and confluences I think we can get lower.
- 15 pips spread on my broker
- Very strong bullish move before it.
Comments are welcomed.
Os.
15 pips is insane to pay once you go live(if you aren't)
- #84,458
- Jan 4, 2011 10:03am Jan 4, 2011 10:03am
Since we've recently had some videos posted, here's something for the newbies in the triumph of the New Year spirit
(pardon the quality, putting it up on youtube erodes the quality quite a bit)
http://www.youtube.com/watch?v=mNjVZoTeYhk
g.
I like it as much as I love the pips.
Dreams are hard to follow, but don't let anyone, tear them away...
- #84,459
- Jan 4, 2011 10:17am Jan 4, 2011 10:17am
You are doing pretty well my friend. This makes it all so worth it for me.
15 pips is insane to pay once you go live(if you aren't)
Yes, im live, took it also based on the alpari uk feed
Fxpro and Alpari had both 15.. Dukascopy had 8 I think.
Os.
Trade Smart
- #84,460
- Jan 4, 2011 10:18am Jan 4, 2011 10:18am
- Joined Jan 2008 | Status: <<--(-$-)-->> | 5,571 Posts
I believe . . .