To the people who read this post, What I want to show you in this post is just one thought among many of people`s thought.
I don`t have a intention to recommend or teach my trading style,, I also still have a lot to learn and there are ton of great traders better than me in this j16 thread. I just want to share my thought with one who is struggling with to pick up PA right now, because I myself struggled to do it for a very long time. And I post this because I want to digest my thought for myself,education for myself,
so if I write something wrong or not enough , please correct me. and I`m sorry in advance for my bad English.
I mostly take a trade based Daily and 4h timeframes. I don`t go to the Lower time frames than 4hTF,simply because Timeframes which is lower than 4hTF are not suited for me. Im not confortable with and I don`t think myself capable of to play in LTFs too. There are Too many things to think about before taking a trade and then,too much pressure, it makes me exhausted.
of courseI tried to go to the LTF many times like some people are doing , and after so many failures I`ve come to a conclution that I am not capable to play in LTFs at last and since then I stick to mostly Daily&4hTFs.
And I don`t do a counter trading too.
This is just a one of my rules(I don`t mean I recommend of this) and I think this rules suited for my personality.
As I wrote in my previous post, I tend to do overtrading. and this rule(not to take counter trade) keeps myself from that my bad tendency.
By sticking to only taking a trade with trend, I sometimes miss good setups of counter PA, though, I m confortble with this rule and that is the most important things for me.
EURUSD daily Charts(FXDD)
In my 1st chart I want to show you which PA I will take and I won`t take.,
BEOB(2010.11.22)
I will take this one.
It is off from SR(weekly/about 1.3700) , the size of the PA is not so great but I like 2EMAs angles, so I surely take this BEOB.
Bullish 2dayPin(2010.12.1)
I won`t take this one.
IT is off from BRN(1.3000),the size of the PA is also nice.I really think this is a great PA(++A).
However I won`t take it. Because my rule says to me [never take a counter trade!]
Bearish Pinbar(2010.12.14)
I won`t take this one.
This PA is off from BRN(1.3500) and along with 2EMAs(10-25/Trend(I difine a trend with those 2EMAs for myself) too , but I don`t like the size of the PA and don`t like the previous bar(strong bullish bar(candle)
so I won`t take it.
On this EURUSD dailychart(2010.9.13~2011.1.11)
If I limit myself only to take PA , I would take only one PA(BEOB(2010.11.22) during about 4 months.
Actually I take not only PA but also authorized bars(candles) if it is along with trend(EMAs).
2nd chart is about my authorized bar trading with trend(EMAs)
In this chart(EURUSD daily 2010.9.13~2011.1.11) I would take 5 bars(I marked them with lime rectangle) by using authorized bar trading.
※I think james16 Chart Thread is maily about PA & PPZ, so that I won`t go into details about 2nd chart.
however, if someone are interested in what authorized bar is , I think ghous`s [Trading "The Constrictor"] is great. I learn a lot from his posts.
Btw,at this oppotunity I want to say thank you, ghous. I think I`ve started reading this thread(j16 thread) almost same time you`ve started posting in the thread.
I think I`ve read most of your post since then.I haven`t met you though, you(your posts)`ve helped me alot ,and sometimes your posts(I was really impressed with one of your post which you wrote about your losing experience with PA Trading for the beginning) gave me a courage to continue to learn about trading when I was disheartend by my stupid trades ,,great thanks to you.
Those are the a few of my rules of my trading, and I am confotable with it.
And here this is my point.
I think it`s really important for me to feel confortable with a trade when I take it.
Because I think this way,, if I feel comfortable with my trade, which means I have a confidence with it too.
In the process to make my own rules one by one and day by day, I think, I could have built a confidence on my trading style little by little.
hope I made my point clear.
Thanks for reading all.
Ken
I don`t have a intention to recommend or teach my trading style,, I also still have a lot to learn and there are ton of great traders better than me in this j16 thread. I just want to share my thought with one who is struggling with to pick up PA right now, because I myself struggled to do it for a very long time. And I post this because I want to digest my thought for myself,education for myself,
so if I write something wrong or not enough , please correct me. and I`m sorry in advance for my bad English.
I mostly take a trade based Daily and 4h timeframes. I don`t go to the Lower time frames than 4hTF,simply because Timeframes which is lower than 4hTF are not suited for me. Im not confortable with and I don`t think myself capable of to play in LTFs too. There are Too many things to think about before taking a trade and then,too much pressure, it makes me exhausted.
of courseI tried to go to the LTF many times like some people are doing , and after so many failures I`ve come to a conclution that I am not capable to play in LTFs at last and since then I stick to mostly Daily&4hTFs.
And I don`t do a counter trading too.
This is just a one of my rules(I don`t mean I recommend of this) and I think this rules suited for my personality.
As I wrote in my previous post, I tend to do overtrading. and this rule(not to take counter trade) keeps myself from that my bad tendency.
By sticking to only taking a trade with trend, I sometimes miss good setups of counter PA, though, I m confortble with this rule and that is the most important things for me.
EURUSD daily Charts(FXDD)
In my 1st chart I want to show you which PA I will take and I won`t take.,
BEOB(2010.11.22)
I will take this one.
It is off from SR(weekly/about 1.3700) , the size of the PA is not so great but I like 2EMAs angles, so I surely take this BEOB.
Bullish 2dayPin(2010.12.1)
I won`t take this one.
IT is off from BRN(1.3000),the size of the PA is also nice.I really think this is a great PA(++A).
However I won`t take it. Because my rule says to me [never take a counter trade!]
Bearish Pinbar(2010.12.14)
I won`t take this one.
This PA is off from BRN(1.3500) and along with 2EMAs(10-25/Trend(I difine a trend with those 2EMAs for myself) too , but I don`t like the size of the PA and don`t like the previous bar(strong bullish bar(candle)
so I won`t take it.
On this EURUSD dailychart(2010.9.13~2011.1.11)
If I limit myself only to take PA , I would take only one PA(BEOB(2010.11.22) during about 4 months.
Actually I take not only PA but also authorized bars(candles) if it is along with trend(EMAs).
2nd chart is about my authorized bar trading with trend(EMAs)
In this chart(EURUSD daily 2010.9.13~2011.1.11) I would take 5 bars(I marked them with lime rectangle) by using authorized bar trading.
※I think james16 Chart Thread is maily about PA & PPZ, so that I won`t go into details about 2nd chart.
however, if someone are interested in what authorized bar is , I think ghous`s [Trading "The Constrictor"] is great. I learn a lot from his posts.
Btw,at this oppotunity I want to say thank you, ghous. I think I`ve started reading this thread(j16 thread) almost same time you`ve started posting in the thread.
I think I`ve read most of your post since then.I haven`t met you though, you(your posts)`ve helped me alot ,and sometimes your posts(I was really impressed with one of your post which you wrote about your losing experience with PA Trading for the beginning) gave me a courage to continue to learn about trading when I was disheartend by my stupid trades ,,great thanks to you.
Those are the a few of my rules of my trading, and I am confotable with it.
And here this is my point.
I think it`s really important for me to feel confortable with a trade when I take it.
Because I think this way,, if I feel comfortable with my trade, which means I have a confidence with it too.
In the process to make my own rules one by one and day by day, I think, I could have built a confidence on my trading style little by little.
hope I made my point clear.
Thanks for reading all.
Ken