For those who took the PB trade on AUDUSD last week and stood in the trade till today, you deserve the profits.
I didn't.
I didn't.
Where can I learn more about Price Action like those in James16 charts? 9 replies
DislikedGuys and girls this is well overdue.
I've been lurking for over a year sucking in the material like a sponge but every time I wanted to post I felt I moved on to another level and what I was going to say was no longer valid.
I've come so far and due to my lack of input on the thread and the level I believe I'm at now I think its time I gave something back to you all....Ignored
Dislikedhey mike, the weekly usdchf pinbar you pointed out was a sure thing, and I saw it when it formed, but i didn't take the trade.
I have a rule where I can only risk 1% per trade, if i used the weekly pinbar and put a stoploss on the bottom of the pinbar with a 1% risk, it would mean i would have to gain 500 pips before even making 1%, i just didn't think it was worth it.
How did you size your position with this trade? or for all trades based on weekly price bars? when dealing with stops thats 300+ pips large, are you still position sizing so...Ignored
DislikedGuys and girls this is well overdue.
I've been lurking for over a year sucking in the material like a sponge but every time I wanted to post I felt I moved on to another level and what I was going to say was no longer valid.
I've come so far and due to my lack of input on the thread and the level I believe I'm at now I think its time I gave something back to you all.
What I wanted was something on my chart to help me with the placement of my Pending Orders and Money management.
I'm not the best at mathematics and when it came to working out...Ignored
DislikedFor those who took the PB trade on AUDUSD last week and stood in the trade till today, you deserve the profits.
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I didn't.Ignored
DislikedYour FTA's are my targets. I do see your targets are very realistic and very much possible considering the current bullish trend. But happy to get out today at the levels I set.Ignored
DislikedHello fascist, u posted a chart on Euraud recently, u still in the trade? What is your Tp target?Ignored
DislikedHey guys, as a few will already know I started trading a little over ten months ago now, during that time I have committed an average of ten hours a day to either trading or furthering my trading education, up until I found this thread my trading account was up and down like a whores drawers, and usually a LOT more down than up!
It's now officially four weeks today since I first started demo trading J16 so I thought I'd share some of my results for that period, as well as thanking Jim, Mike and all of the others seniors for all of their efforts...Ignored
DislikedHere's my demo retrace entry on GJ...not at BE yet....looking for bottom of top blue zone as likely TP area.Ignored
DislikedManually closed for 0.6R (about same place cprao closed I think). Late Friday couldn't get a push up through 122. On to the next one.Ignored
DislikedHey Half
I always position size based on my stop. If I decide to start with my stop on the other side of the bar(which I do about 90% of the time and did with the usd/chf) then I position size based on that. It's all relative. If I covered up that it was a weekly chart and one thought it was a daily or hourly I would approach it the same way too.
Best
MikeIgnored
Dislikedthanks for the reply, I understand your position sizing and limit entry/stoploss method. I do the same thing.
What I want to know is do you allocate the same risk to all your trades, even the trades based on weekly charts? My rule is 1% risk per trade, the weekly pinbar on usdchf was about 800 pips, if size my position so that 800 pips means 1% of my account, I would have to wait A LONG TIME, before making a gain.
do you allocate the same risk to your weekly chart trades as well as your daily or h4 trades? this would create a huge imbalance...Ignored
DislikedHey guys, as a few will already know I started trading a little over ten months ago now...
even more satisfying is the fact that I haven't had one losing week during that period, prior to finding this thread I hadn't had one profitable week in OVER NINE MONTHS!
....
A professional trader once said to me that it always amazed her that so many people quit trading just when they were on the cusp of getting it right, that one statement, fortunately, carried me through and kept me going ...Ignored