james16 Chart Thread

I may not be around this weekend, in the mean time (for the 11th)...

That 'demo' part, think it needs to come off

T

That was a great post, Lapin (GU post) .. I wish I could have said it that way . .I probably would have rambled on for two or three posts . .lol

You expressed that level on the GU in a few lines . . . that told it all . . .


Jim

Confluenced level on GBPNZD...

BRN 1.9500, 61.8 retracement, PPZ level. Would love to see a huge bullish PB.

If the level breaks down could see 1.900-1.9100.

Take this with a grain of salt (I've been wrong before ). Today's bar looks like a retracement of last weeks BUOB before going higher.

That daily bar high a couple of bars left on your chart is actually the previous week's high on a weekly chart and would be the FTA for the daily trade. As jarroo points out...outside bars like to retrace to previous bar highs and lows.

On the weekly chart, the previous bar high (2 weeks ago) is actually the 38.2 retracement level (almost to the pip) of last weeks BUOB.

Here's the weekly chart.

hahaha..yeah 1st bday on FF..exactly 1 year tomorrow..looking back at my 'earlier' posts feels funny..
waiting for ur 18th..lol
i wish FF had the functionality of changing handle..but im happy with demo..no hurry for real account.
still gotta learn things(phsychology)..
many times i see we have a trading plan but then once we are into trade emotions start ticking in..so many thoughts goes into mind..
this way sometimes trade end up with short profit or breakeven(just to see it turned out a runner later)..and sometimes trades dont tick.it happens with me a few time.so just working on it..
what works best is to follow ur trading plan and most importantly TRUST URSELF & UR STOP LOSS!!never do any stupidity while in the trade.complete no interaction.
good genuine FF gurus says "never quit and accept ur mistake & move on"

..u know it takes time to built 'full' confidence..

its great to learn from them how to tackle things!!

Interesting bearish PA, although I did not like the ranging open and close of the bars just below it, before it broke out.

a Nice large bearish PB on gold, closing below the WLCS would be interesting. Even an H1 PB with the close around the London open.

I actually found a solution to this problem. It may not be for everyone but for sure some people could make it work. I found an investor that is a friend of mine. He didn't believe me that I could generate such great returns but he said he would let me prove myself on demo. On Demo I did 7% in one week so he said fine lets see what you do with actual money so he set up a micro account with $100 in it. On the micro account I didn't fair as well but I still managed 11% in 6 weeks. He said to me that 11% in 6 weeks is still amazing and that he will be opening up a standard account with a large deposit in it. If that one does well, he will be making a very large deposit. The point is that when I was trading other people's money, even when it was a small amount, I did very well. FYI, he gives me 25% of all profits. So far he owes me $2.75 lol.

Beginner's luck Jim... beginner's luck

Hi all,

I posted this a short while back and would appreciate any feedback as it's progressing a little more now.... it seems to be testing the BRN and the 50 fib again and has closed below the BRN for first time since Oct.

Is this something we'd be looking at taking?

Price did show us a reaction close to the WLCS.
However, it did not quite make it back, nor did I like the bullish close of the H1 bar above the lower support area.

Looks like we shall now have to wait for the daily to close or a pullback to the LCS. The daily FTB to the 150 may be interesting.

H4 Divergence building up.

I haven't seen so clear representation of retail flows for some time now
Everybody and their grandmas are betting for SNB intervention in order to defend the 1.2 barrier. Price keeps going lower and retail long-exposure gets higher and higher. We can see large concentration of protective stops just below 1.2 and large stops @ 1.9 from those that are willing to give price some breathing room. Now what will happen if the level will bust and stop cascade will trigger? ...... That will produce a lot of margin calls for surre

Hi All,
Greetings from the Southern most tip (almost) of Africa , on a hot (30 C) and windless day , May 2012 be all you hope for , healthy, happy and lucky.

Hi BF, Fantastic for you , but, this scares the heck out of me.
Please go to the first page and read MINIMUM REQUIREMENTS,
and I copy a section for your benefit.

WHATEVER / WHICHEVER WAY YOU DECIDE TO TRADE YOU MUST (AT A MINIMUM):

1. ON DAILY AND WEEKLY TIME-FRAMES, YOU ONLY DEMO-TRADE FOR THREE CONSECUTIVE PROFITABLE MONTHS IN A ROW. YOU DO NOT PROCEED TO STEP TWO UNTIL COMPLETED.
2. OPEN AN ACCOUNT WITH HALF OF THE INVESTMENT YOU INTENDED TO GO FULL WITH AND CONTINUE TO ONLY TRADE DAILY AND WEEKLY TIME-FRAMES UNTIL YOU ARE PROFITABLE THREE MONTHS IN A ROW MINIMUM. YOU NEVER RISK MORE THAN TWO PERCENT OF YOUR ACCOUNT ON ANY ONE TRADE. YOU DO NOT PROCEED TO STEP THREE UNTIL STEP TWO IS COMPLETED.
3. FUND A FULL ACCOUNT AND CONTINUE TO ONLY TRADE DAILY AND WEEKLY TIME-FRAMES UNTIL YOU ARE CONSISTENTLY BUILDING YOUR ACCOUNT FOR AT LEAST SIX MONTHS. YOU NEVER RISK MORE THAN 2 OR 3 PERCENT OF YOUR ACCOUNT ON ANY ONE TRADE.
4. IF AND WHEN YOU DECIDE TO DAYTRADE ON A SMALL TIME-FRAME AND YOU DON'T FOLLOW THIS TEMPLATE, AT A MINIMUM, YOU ARE ALMOST CERTAINLY GOING TO FIND YOURSELFE IN TROUBLE. IF YOU ARE GOING TO FOLLOW A SYSTEM OR ANY TRADING STYLE AND YOU DON'T FOLLOW THIS TEMPLATE AS FAR AS THE DEMO PROCESS, YOU ARE NOT TREATING IT AS A BUSINESS AND YOU HAVE NO ONE TO BLAME OTHER THAN YOURSELF IF YOU LOSE YOUR MONEY.
5. IF YOU EVER SUFFER THE LOSS OF 30 TO 35 PERCENT OF YOUR ACCOUNT, YOU STOP TRADING. PERIOD-PARAGRAPH. YOU GO BACK TO DEMO AND FIGURE OUT WHAT WENT WRONG. WHILE DOING THIS, YOU REFUND YOUR ACCOUNT BACK TO ITS ORIGINAL AMOUNT. YOU DO NOT GO BACK TO LIVE TRADING AGAIN UNTIL YOUR DEMO HAS SHOWN YOU WHAT WENT WRONG AND YOUR ACCOUNT IS BACK TO FULL STRENGTH BY WHATEVER MEANS. IF IT TAKES ONE MONTH OR SIX MONTHS, IT DOES NOT MATTER. YOU MUST FOLLOW THIS APPROACH IF YOU DON'T WANT BLOWN ACCOUNT AFTER BLOWN ACCOUNT.

Please BF , this is not a quick get rich scheme , its a serious business.

Forex trading and training, is populated by many, many sharks and get rich quick con- artists who never trade , but only teach ( for the fees),

Every site on the net dealing in forex has a disclaimer on the risks involved , think about it , there must be a reason.

This site ( James16) is one of the few site where the seniors are genuine traders, and genuine folks as well.
Please, please,take note of what they say regarding these minimum requirements.


Regards and a good 2012 to all



Mike

Interesting PB. I have a potential harmonic pattern setup forming on M30 which i'm watching that coincides directly with the weekly lows you point out. Not for this thread but very interesting that those lows are significant in a pattern emerging on M30.

Had my eye on GBP/NZD for a while now.

Damn, all that patience and it breaks right through the area. LOL

Guess we will have to outsmart it and let it show us what it wants to do.

All roads lead to Rome, as they say.
Notice the weekly and monthly LCS are the same and that sucker still broke through it like butter.

audx performing nice, but so does nzdx.....

technical wise daily demand + 1.3000 , but even crossed this brn....trickie one ..

Hi Greenhaze,

Now where did you get that from.

Mike

Quick to profit...

Trades are far and few between these days, but I took this PB off the TL and 1.3100 for a quick profit since I was trading back into the VBRN.

Continuing in trying to assess how much I have learned reading the thread, here is EUR/GBP.

On the weekly TF, I can see there is the LCS which also coincide with the BRN 0.83. Is it a valid LCS?

If yes, then I would hope to see a bearish PA at this level on the daily to go bearish...

Is it a correct reasoning?