DislikedI appologize, but I really don't understand what is so fantastic about this entry? Where is the setup? Trendline is not valid is weird and wrong to put it there. Fibo - if you draw it the other way around that would be shorting into great 50% fibo retracement SUPPORT. Where is the bar confirming strenght Pinbar, BEOB, TBHLC? Pivot at 6450??? what is so tremendous about it? Those pivots are all over...There is nothing fantastic about this setup. I don't think anyone could make a successful call in real time with a setup like that.
Putting an...Ignored
james16 Chart Thread
- #101,987
- Sep 21, 2011 1:57am Sep 21, 2011 1:57am
- | Commercial User | Joined Aug 2006 | 12,004 Posts
What do you think about this situation?
best
Mike
- #101,990
- Edited 2:58am Sep 21, 2011 2:39am | Edited 2:58am
- Joined Feb 2009 | Status: Borderline yahoo & oh-no! | 6,607 Posts
I apologize, but I really don't understand what is so fantastic about this entry? Where is the setup?
u are reverting back to your old self, talking about hindsight.
u wont be able to learn from Sir James (or anyone for that matter) in real time unless u watch over his shoulder as he trades &/or at least join the PF (im not a PF member) to see more of his posts/charts.
u criticised his use of TLs, Fib.
well, dont forget most of trading is subjective... it's all about personal perspective.
if Jim trades that way, plots TLs & Fibs that way, so what? if he makes money or not with them, again so what?
u trade your own way, plot your TL & Fibs your own way. that's the only thing that matters.
u will never trade exactly like Jim, nor will he ever trade exactly like u. we are all unique, remember?
i dont trade like Sir Jim & yet i understand his perspective. im honestly really surprised that u work at a local h.fund & yet u cant understand Jim's chart... while here i am malnourished, amnesiac & unemployed since i started trading & yet comprehend Sir Jim's presented chart.
u have to make use of what u have (creativity, vision, brain power) & what's shared here (free posts & charts)
if u cant see through the charts, u have to keep looking.
the point of sharing charts is to learn from them.
I couldn't agree more,a cherry picked trade if ever I saw one. It is so easy to pick trades after they have occurred!Now watch and wait,I'll be shot down in flames before too long.
would u rather see a cherry picked good trade or a bad one?
it's more psychologically beneficial to learn the right way of doing things.
if u abhor cherry picked trades then why continually hang out on this thread (i see u here from time to time)? nobody ever forced u to do so.
whining hypocrite.
maybe if u stop yapping & start posting your own trades, we could get more constructive.
...Without knowing the past how else can you study PA to predict the future price (we all want to know!) ?!! Imagine this situation in the 'chart' without a past... I think you get the point. We seek that edge to do better than 50/50...
u are concerning yourself of something beyond what's presented in front of u.
what's presented in front of u is a chart with past PA. & u should concern yourself of that mainly.
now, assuming your scenario happens, i think u will have to rely on experience, expectations, intuition....
just my view
- #101,991
- Sep 21, 2011 2:59am Sep 21, 2011 2:59am
- Joined May 2010 | Status: HCR-LCS SFP | 6,026 Posts
- #101,993
- Sep 21, 2011 3:26am Sep 21, 2011 3:26am
- Joined Feb 2009 | Status: Borderline yahoo & oh-no! | 6,607 Posts
- #101,994
- Sep 21, 2011 3:41am Sep 21, 2011 3:41am
- | Joined Jul 2010 | Status: MAKE IT HAPPEN | 2,220 Posts
....im honestly really surprised that u work at a local h.fund & yet u cant understand Jim's chart... while here i am malnourished, amnesiac & unemployed since i started trading & yet comprehend Sir Jim's presented chart...
Hi SC, you would never let me just shut up
So I will comment. I thought to read and be quiet, but man that highlited commentS of yours will not let me just walk by.
First, I am really honestly surprised that you think that h.fund would trade by looking at the chart and patterns it generates. Wow. Why?
Why would anyone do such a RISKY thing when one can buy Bond corporate and government and make about 30%+ per year. We are talking about A LOT of money. Even crisis years, where we have companies defaults we still make about 11%. So trading is very much not like you imagine for the fund. Plus we still don't really care as I and everyone still makes money on SALARY
and those stupid investors let them play the casino thing 
Also, I saw (on TV, lol) that some US and Europe h.funds have like 50+ computer desks with some smart dudes pressing buttons with bloomberg charts on it. Lol. I think there are either of two: 1) USA and Europe has too much money to throw and play around with 2) Each of those "independently looking traders" in fact doing a specific, very well regulated task, where he will never make something that does not go well with the overal strategy of the Fund (which is really not the A+++ pinbar on EURUSD for the week).
Second looks more understandable to me. That's how EVERY fund here does it. And you know if (for example only) you were an independent, successful trader who really makes money I am 100% SURE EACH of these funds will hire you to trade, you can even still reside where you are. And you will make more than you can imagine and certainly more than you would ever make trading your own small account. I know we would hire such a genius for sure. But there is one problem though, we WILL ASK a performance track record.... see... and as far as I know there is no such unique gentelmen in any of the funds I know (about 70). Why?
There is really no one who can prove his record even if he offered a lot of money, does not have to move, just only do what he loves. Trade and make money.
Just a food for thought.
Now, knowing this why are we still here then? Because of FAITH and HOPE. We believe that those simple (after 1 year study) formations like Pinbars and BUOBS could give us an edge and we will become those truely unique individuals who can make this happen. Personally I here for this same reason. However, some TT trades make me THINK. Make me revert not to the "old self" like you say, but revert me back to THINKING. Thinking about this whole thing being a game, an addiction and lose of time (the best time in our lifes). So in some way those "strange" trades offend me....
Of course this is only my personal opinon and if James or Mike ask me to post somewhere else and leave I will do that. But for now I think that adults like us can sometimes argue and have a consturctive dialog for the mutual benefit and benefit of those who just came into this field.
now, in regards to your second part of the comment (green). There is no need to to live like this. And there are some very nice places around the world. Canada is one of them, I love it man! Some say Thailand with its "expensive" $15000 newly built (!) condos with swiming pools and gym etc... with $12 monthly maintance fee...
But I sometimes think I had too much of Asia already...Toronto is really cool btw, jsut a perfect place.With love,
Adi
- #101,995
- Edited 3:58am Sep 21, 2011 3:42am | Edited 3:58am
- Joined May 2010 | Status: HCR-LCS SFP | 6,026 Posts
- #101,996
- Sep 21, 2011 3:58am Sep 21, 2011 3:58am
- Joined Feb 2009 | Status: Borderline yahoo & oh-no! | 6,607 Posts
Hi SC, you would never let me just shut up
... but man that highlighted commentS of yours will not let me just walk by.
First, I am really honestly surprised that you think that h.fund would trade by looking at the chart and patterns it generates.
...some TT trades make me THINK. Make me revert not to the "old self" like you say, but revert me back to THINKING. Thinking about this whole thing being a game, an addiction and lose of time (the best time in our lifes). So in some way those "strange" trades...
if u read between the lines, there was an air of envy, on my part, rather than insult on my previous post.
(envious that) u were able to get a job at a local h.fund... so i thought u were simply much better than me. but somehow u didnt understand Sir Jim's chart, which surprised me. that is all. i was not referring to the internal operations of your h.fund.
btw, i read/know some people quit from those excellent paying jobs. too stressful.
u dont have to be offended by those 'strange' trades. u dont have to trade like that anyway, unless u want to.
again, concentrate on your trades/strategies. if u wanna learn, open your mind & keep looking at the charts until u can 'see'.
man, why do u have to end with a talk about Canada & stuff, u always make me feel envious
- #101,998
- Sep 21, 2011 4:08am Sep 21, 2011 4:08am
- Joined Sep 2005 | Status: J16 Senior Member | 13,635 Posts
Hi James,
I am definitely confused. I see the pair moving up in the channel. PA is in the middle of the channel. No price action. PA could have moved up or down and it moved down. As regards small stops not sure how it helps. If we are position sizing, either on fixed percentage or fixed amt staked on a trade, a smaller SL would increase our postion size and if the trade goes against us then we are out with the full loss very quickly.
Yes I know, you are guy who makes money "consistently" and in the end that is what matters. However, the above...
He teaches first and formost to have PA at these level for even more confirmation and/or confluence .
Also, S/L percentage can be fixed but you don't have to use all of it . .
Nothing wrong with a larger S/L level and get out early if price doesn't react the why it should at these level.
Here is my POV on this S/R setup. (charts)
PPZ levels are where Support and Resistance levels meet.
I confirm how the PPZ level is acting as either Support or Resistance by where Price closes . .
Price Closes Above the PPZ level its acting as Support.
Price Closes Below the PPZ level its acting as Resistance.
I use other confirmation for S/L . .no Hourly or 4 Hour Close Above or Below my entry, etc.
Indicators show the past. Price Action "Indicates" the future.
- #102,000
- Sep 21, 2011 4:21am Sep 21, 2011 4:21am
- Joined May 2010 | Status: HCR-LCS SFP | 6,026 Posts
