meine augen sind die sterne
james16 Chart Thread
- #99,081
- Jul 22, 2011 12:25am Jul 22, 2011 12:25am
- Joined Feb 2009 | Status: kiki soso largyalo | 2,243 Posts
- #99,082
- Edited 12:59am Jul 22, 2011 12:31am | Edited 12:59am
- | Joined Feb 2010 | Status: Make Them Pay | 1,103 Posts
Anything can happen.
- #99,083
- Jul 22, 2011 3:06am Jul 22, 2011 3:06am
- | Joined Feb 2010 | Status: Make Them Pay | 1,103 Posts
Not a good day for CHF so far 
Anything can happen.
- #99,085
- Jul 22, 2011 3:33am Jul 22, 2011 3:33am
- Joined Jan 2011 | Status: Senior Member - Pro FX Trader | 2,736 Posts
- #99,086
- Jul 22, 2011 3:40am Jul 22, 2011 3:40am
Just thing about the maths on this one.
If we stick to dailies only:
(35 charts)*(about 240 trade days a year)= 8400 bars produced
How many good bars do you feel you could find in 8400 bars? My guess is that we could EASILY find 12. That would average about 1 a month.
Do you think if you learned (with time and practice) to play only the absolute best 12 PA bars (out of 8400) a year you could be happy with the results of those 12 trades? I don't know the answer that you would give, but I believe it is very possible the answer is yes. That...
It was not A+, probably the 4th touch on the (badly drawed) trendline and RNB combination made me dizzy...
But am dissapointed in this 12 trade per a year stuff....
Bc if I calculate it would mean about 12% a year for me, which is does not worth to do it when my save bank account give me 10% a year and it is guaranteed and I do not have to do anything for it...
The max I risk is 2% per a trade and with my R/R I can win 1% if it works well....I have not find any better R/R durring my 6 month learning period....and was happy if it worked.
So all the 12 tarde must be winning....bc if I loose just one then I will have only 9% per a year (and still have good winning rate)
I can not work it out....maybe you hold your trades....but in one of the video even James says that 8 or 9 of the 10 trades will catch you in BE bc they come back for retest most of the time...
Or you risk more than 2% per a trade?
And if everything goes well 12% a year?Is that all?
There is a forexcourse in Hungary which advertises itself and say you have to do 100% per a year if you practise enough and if you can not do it after a couple of year then stop it...they say a good trader can even make 600-800 % a year....is it bullshit? ( I was on the course ( of course atfer this markentig....
) and thouth I am a chicken bc I can not make 100% a year...Is it just marketnig? But what is the point make 12% a year ? or even 20% -30% after like 10 years of doing it?
Or what is the realistic %?
Or what is the good % with this method?Or do I should risk more then 2%?I think I should have a coctail with Adi... (I do not like beer) and talk...
It keeps me thinking on it for a long time...
Thanks
Monika
- #99,087
- Jul 22, 2011 4:05am Jul 22, 2011 4:05am
Set a limit order at 113.55
High of the bar (so far) is 113.56
Stop to b/e...time for some ZZZ
http://img577.imageshack.us/img577/8388/53277124.gif
- #99,088
- Edited 4:43am Jul 22, 2011 4:09am | Edited 4:43am
- Joined Feb 2009 | Status: Borderline yahoo & oh-no! | 6,607 Posts
Please comment on this
your initial TP is just about 20pips, but it may not be hit because of all those traffic.
i'd recommend u to look for other setups.
plus this is H1 & i think u are still learning this material (ideally, u trade/practice on H4/Daily & up).
your Gold trade is still open , but it's not doing much. remember i told u to watch momentum. IMHO, it's not moving much because this is a countertrend trade. so, u decide if u still want to hold on to this trade, as price might take days before it drops, or it might continue to stall, or worse it might resume upmove..
...
But am dissapointed in this 12 trade per a year stuff....
Bc if I calculate it would mean about 12% a year for me, which is does not worth to do it when my save bank account give me 10% a year and it is guaranteed and I do not have to do anything for it...
The max I risk is 2% per a trade and with my R/R I can win 1% if it works well....I have not find any better R/R during my 6 month learning period....and was happy if it worked.....
IMHO, if your A+ trades only give u 1% almost all the time/all the time, then it's either
-you are not trading an A+ setup, & u should be more picky , or
-your trading style is to take such A+, 1% setups (there is nothing wrong with this)
-probably there are other reasons/factors to consider
IMHO A+ trades definitely generate more than 1%
i also need to point out that 6months learning period is VERY short a timespan to extract a meaningful conclusion/s about your trading performance.
if u treat trading as a business, AND u are serious about it, u should be realistic & allocate 2-5 years initially. i say "initially", because it can take more than that to learn &/or become successful ---it all depends on the trader's circumstance, passion, psychology/discipline, &/or learning curve.
There is a forexcourse in Hungary which advertises itself and say you have to do 100% per a year if you practise enough and if you can not do it after a couple of year then stop it...they say a good trader can even make 600-800 % a year....is it bullshit?
i honestly dont think it's bullshit (whether they can help u make that much annually is a different matter). based on my experience, it can be done & not necessarily a yearly return.
Dont overthink & put too much emphasis on other people's trading performance, whether it's 10%, 100%, 1000% annual return ----it has NO bearing on your personal performance. it merely gives u an idea of what's possible if u succeed in this business.
Focus on yourself & your trading.
[quote=supremeChaos;4802053]if u look at prior bars , u will see u are heading straight into traffic.
your initial TP is just about 20pips, but it may not be hit because of all those traffic.
i'd recommend u to look for other setups.
plus this is H1 & i think u are still learning this material (ideally, u trade/practice on H4/Daily & up).
I agree with you chaos but i think the bar on h1 is really from a very nice support which can be called a ppz after this pin and eventhough there's a reward of 20 - 25pips generally on such pins but moving them to BE and waiting for the trade to break the traffic can be really rewarding sometimes .
now the same area has also formed a h4 pin
your initial TP is just about 20pips, but it may not be hit because of all those traffic.
i'd recommend u to look for other setups.
plus this is H1 & i think u are still learning this material (ideally, u trade/practice on H4/Daily & up).
I agree with you chaos but i think the bar on h1 is really from a very nice support which can be called a ppz after this pin and eventhough there's a reward of 20 - 25pips generally on such pins but moving them to BE and waiting for the trade to break the traffic can be really rewarding sometimes .
now the same area has also formed a h4 pin
- #99,093
- Jul 22, 2011 4:52am Jul 22, 2011 4:52am
- Joined Jan 2008 | Status: <<--(-$-)-->> | 5,571 Posts
Please comment on this
That's a good take there.
Though looking at the way things are shaping up (the wicked double bottom bounce off the 110 area) I wouldn't plan to hold it for the longer term. Its at the FTA and this would be action time for me.
Oh and BTW you must wait for a break of your bars before you enter your trades. and Like Choas said starting off on the higher TFs always helps.
Best of luck with it.
g.
I believe . . .
- #99,094
- Jul 22, 2011 4:54am Jul 22, 2011 4:54am
- Joined Jan 2008 | Status: <<--(-$-)-->> | 5,571 Posts
Hey does anybody know how James16 is doing?
Do we call s/he James16 or Jermima16? Dont wanna offend him/her
lol
...On a serious note I am sure he's fine.
g.
I believe . . .
- #99,095
- Jul 22, 2011 5:00am Jul 22, 2011 5:00am
- Joined Feb 2009 | Status: Borderline yahoo & oh-no! | 6,607 Posts
...
I agree with you chaos but i think the bar on h1 is really from a very nice support which can be called a ppz after this pin and eventhough there's a reward of 20 - 25pips generally on such pins but moving them to BE and waiting for the trade to break the traffic can be really rewarding sometimes ..
u mean 113.50 area is a nice PPZ/resistance? yes, i agree.
but my main point for Sir featurelion is to not get used to trading H1 & traffic-rich setups, since i assume he's still learning the material.
because if he gets accustomed to taking such setups, he might find himself getting into a lot more trouble.
by the way, i hope he at least exited some since eurjpy is now about 5-6pips away from his first TP. but it may break further down of course ( but im inclined to think it'll range or slowly move down than make a quick drop to his 2nd TP).
..
Oh and BTW you must wait for a break of your bars before you enter your trades. and ....
& looks like it was a retracement entry, awesome featurelion
- #99,096
- Jul 22, 2011 5:05am Jul 22, 2011 5:05am
- | Commercial User | Joined Aug 2006 | 12,004 Posts
But what is the point make 12% a year ? or even 20% -30% after like 10 years of doing it?
Or what is the realistic %?
I think I should have a coctail with Adi... (I do not like beer) and talk...
It keeps me thinking on it for a long time...
Thanks
Monika
I am blown away with you guys getting so much in a savings account. 10%?! we get about .05%
Is 20% a year worth it?
Let's see.
Say we start with an account of 50k. Nothing special right.
20% a year compounded
Year 1 = 60,000
Year 2 = 72,000
Year 3 = 86,400
Year 4 = 103,680
Year 5 = 124,416
Year 6 = 149,300
Year 7 = 179,160
Year 8 = 214,992
Year 9 = 257,990
Year 10 = 309,588
Year 11 = 371,505
Year 12 = 445,806
Year 13 = 534,967
Of course if you are guaranteed another 10% in a savings where the bulk of your trading account can reside that number is going to be MUCH higher, and then this assumes no more then 20% a year or less.
Is that worth it to you? Maybe not, most would kill for this
Best
Mike
- #99,097
- Jul 22, 2011 5:06am Jul 22, 2011 5:06am
- | Commercial User | Joined Aug 2006 | 12,004 Posts
Hey does anybody know how James16 is doing?
Do we call s/he James16 or Jermima16? Dont wanna offend him/her
lol
I will let you guys know if I hear from him before he posts
He is on a lot of peoples minds
Mike
hello Sir fx trader,
u mean 113.50 area is a nice PPZ/resistance? yes, i agree.
but my main point for Sir featurelion is to not get used to trading H1 & traffic-rich setups, since i assume he's still learning the material.
because if he gets accustomed to taking such setups, he might find himself getting into a lot more trouble.
by the way, i hope he at least exited some since eurjpy is now about 5-6pips away from his first TP. but it may break further down of course ( but im inclined to think it'll range or slowly move down than make a quick...
yeh chaos ur right
- #99,100
- Jul 22, 2011 5:26am Jul 22, 2011 5:26am
Thanks Mike and SC,
Probably the 20% is not bad but after start the trading bc you think you can get 100% as minimum and maybe 600% if you are good.....well dissapointing...mainly if you do not have that big account
....and thought you will be full time trader...
0.05? God...I would keep my money under my duvet...
Realy is that all what we can reach? 20% ?
Monika
Probably the 20% is not bad but after start the trading bc you think you can get 100% as minimum and maybe 600% if you are good.....well dissapointing...mainly if you do not have that big account
....and thought you will be full time trader...0.05? God...I would keep my money under my duvet...
Realy is that all what we can reach? 20% ?
Monika