TBN / PATe - my experience/Your FREE opportunity

Due to my frustrating inabilty to be able to follow the rules it's not been a great week for me as, in meandering markets, my patience & discipline have been found wanting (again!), yes Julie I WILL learn! As I have admitted I have pretty much flouted the rules, up until today, with the obvious consequences!

This morning WTI opened as a rule 7, however I had to pop out so I missed the initial sell entry at 99.46 instead entering at 07:59 at 99.23, I also entered Brent at 08:00 at 117.76 as price looked to have held below BRN on LH's. Both trades were double script with tp1 set at 36 and tp2 open ended as I felt that both could run past the 100 pip mark. Both tp1's were hit at 10:18 & 10:13 respectively, both also ran 100 pips from my entry, and now I'm wishing that I'd set my tp2's there, however with US open approaching and WTI looking like it was possibly rallying with, what looked at the time, like a push through and possible hold above 98.50 I took the available tp2 pips on both trades, 85 on Brent and 64 on WTI, giving a total for the day of +221. I'm pretty sure that both trades will keep heading south but I'm happy with my pip count for the day and I'm gonna start my weekend early!

Strange how easy, and profitable, this PATe method is when I FOLLOW THE RULES, and my patience & discipline ALLOWS me to follow the rules

Nice Trading Stochman

This week has been quite challenging at times for Commodities with quiet and ranging markets when you consider what is usually on offer.

There have been big moves that has flushed things about a bit.

Today was much bit better

I had a similar entry on Brent $117.89 which I thought was the best of the setups i was looking at. I left this running as I went to look at some garden offices for my trading space.

There was a gold short @ 1736 which was also dead on the same spot as the DP and the WP. I was a bit late setting up this am so I considered the stop too large for the RR considering at the time price was already resting yesterdays low. However, with a tight stop this was an exc trade.

I also have also attached a Gold short from yest which setup in virt exactly the same position

I have attached some screenshots

Good luck for next week

Speed

ps my pivots are from mt4 auto plotter so may differ to yours in some places but they are usually pretty close.

Bill (speedtrip),

with the best will in the world those charts are not PATe configured charts, and those pivot point are no where near where Julie would place hers (if she used Charts); only livecharts.co.uk values have any meaning in PATe.

Fine, if those setups work for you, but you are not trading PATe.

I am sorry, but this needs to be said so someone who reads Julie's web pages and then attempts to correlate that information with your charts could be left confused.

Anyway, whatever works for you works for you, and I wish you luck in your endeavours.

Kindest Regards.

The pivots work VERY well and i did point out there were sourced from an auto plotter.

Ive got to dash now but when I checked earlier the pivots looked good to me when compare to those on live charts

Have a good weekend

Bill,

your charts indicate Fib Pivots and Weekly Pivots. I invite you to show me when Julie has ever used either.

I am glad they work for you though, but they are not nor have ever been PATe price points.

Kindest regards,

Art

Speed I welcome your posts, by all means post your PATe trades on this thread but please resist from posting charts or discussing trades that have fib pivots that do not correlate exactly with the levels that Julie uses.

Regarding weekly pivots, as has been mentioned by Hiart PATe does not use them so posting charts showing them only serves to confuse potential followers of the methodology, especially newer traders, again I would politely request that you don't post charts showing weekly pivots.

I'm sure that you are enjoying success with whatever method it is that you're using, and long may it continue, but I am politely requesting that you don't hijack this thread by inserting posts on it that are not relevant to PATe, it would be similar to posting on the Dredding thread but actually showing charts for, and discussing, J16 methodology. For example your gold trades, the gold charts that you've posted, although I'm sure that you enjoyed the trade, have absolutely no relevance to the PATe method in the format that you've posted them.

Hopefully you understand the points that I'm trying to make, this is not an attempt to offend you. PATe is a VERY simple but VERY effective method, it shouldn't be over complicated, again especially to newer traders, because it truly isn't. I understand that you have used PATe over a number of years but have obviously evolved your own method, one that currently bears little resemblance to the PATe method in its purest form.

As I say I welcome and encourage you to post trades and charts but please do so with PATe pivot levels and without weekly fibs, let's keep PATe as PATe and let people see how truly simple and effective it really is.

Remember Speed, 7 opening rules, BRN's and mid points, it doesn't get any simpler!

Missed the morning move as at the Doctors. Missed the afternoon move as I had fixated on failure to break 100, totally missing the lack of bias change (was still bullish therefore) and the floor at 99.40.

Will have to note that as a lesson learned, and I will not chase the trades this afternoon.

Messy day for me too, I did get on a buy of WTI at 10.13 above mid point but when there didn't appear to be much in the way of momentum I exited at break even, I then frustratingly missed the big move up on WTI after a hold above mid point in the afternoon session, not a nice day for me for trading oil, hopefully tomorrow will be better

Took a buy off the second HL on Crude this morning.

http://i202.photobucket.com/albums/a...02-14_0854.png

I entered a double script WTI trade this morning at 08:04 at 100.68.

After price had touched but not broken pivot it went on to make new session highs, I entered on the second HL, this was also the second HL above midpoint, giving great confirmation of bullish intent.

My TP1 was set at 36 pips which was hit within 33 minutes, my original TP2 was set at 101.40 but after taking advice from Julie I decided to move it the other side of midpoint up to 101.95, as price moved north through midpoint I tightened my stop, eventually having it as high as 101.38 which locked in my original TP2 target of 70 pips.

As price approached R1, 101.70 on my chart, it appeared to stall, as it was also traditional latte time in London, 11am, I decided to exit TP2 with 79 pips, giving a total for the session of 115 pips.

Happy bunny!

Darned difficult to read again this morning with the least favourite set-up - a rule 6 buy. Been rangy all morning with no confirmed signals either way, and as Oil Inventories are this afternoon I think I will take the hint and scrub trading today. I feel it is best to be cautious in markets like this. I am sure advanced traders could trade it, I am not an advanced trader, so I wont!

Hola...

I am up around 120 right now on the EU and EJ. Missed a good trade on the GBP/AUD. But I am happy with what I got so far.

FAO Tim Ellis

From Julie "......have tried to respond via e mail but your e mail is bouncing back as undeliverable. Please let me have an alternative. I will try again."

Art

PS recognize the name from Roz's room!

Painful morning.

Crude was an initial BUY signal but proximity to 102 meant that we needed to see that level break first. It didn’t and a subsequent bias change got me interested in a Sell, which I duly took at 8:30. Way too early as 105.50 had not been confirmed as resistance as that point. What followed was a long painful morning where my stoploss was threatened several time, but I kept in…just. Exited just now as red news at 13:30 for a mere 10 pips.

To compound matters, I took an initial buy just before London Open but bailed out when 1.3000 gave way. On seeing what I mistook for LLs and Lhs under 1.3000 I entered a sell at 08:37. Way too early again as BRN had not been confirmed as resistance as that point. What followed was another long painful morning although my stoploss was never threatened. Exited just now as red news at 13:30 for a mere 10 pips.

Overall breakeven due to lack of discipline and application of the rules.

Very poor entry this morning that duly got stopped out. Received an email from Julie which indicated my mistake, and that was a total failure to look at the possible reward component of a trade, just fixating on the risk. OK, I know some of you are shaking you heads, and going "utter noobie", well, I am!

OK, a BIG lesson learned today, which I hope to implement in the coming days.

US Bank Holiday Monday, so holiday here too.

I did take a good EU BUY this morning, but allowed myself to be bullied out for an early exit. This is another lesson I have to learn. However, the poor entry on crude (discussed above) almost certainly affected my thinking on EU.

The correct move today was not to play them both together, only the one with a confirmed entry signal.

Been many lessons this week, I hope I have paid attention.

Yes, a very difficult weeks trading for me, but then I have only been focussing on WTI which has cost me some VERY nice entries on EU, an obvious noob error to the more experienced but at the moment I have been attempting to focus on one chart at a time.

Talking of entries, over the the last year and a bit I have noted many things relating to PA whilst chart watching, HiArt & I have gone on to discuss those very things, as we have again today, however I concur with HiArt that the email that Julie sent earlier today confirms many of the things that we have previously discussed but crucially it gives those things some much needed structure.

Trading wise this has been a pretty pathetic week for me, in no way due to the PATe methodology but absolutely down to my lack of experience, however, trading education wise, it has had an uplifting ending today, confirmation is indeed a wonderful thing!

Why would I risk 31 pips to get into a move that only has a 14 pip ceiling/floor? The answer is not that I'm a numpty (although HiArt will probably disagree ) the answer is that I am learning! On average, from what I've read on forums, I would guess that it takes the average trader three years to become consistently profitable, I would also say that, with Julie's help along with the PATe methodology, that I will cut this short by some considerable distance.

So I would like to end the week by thanking Julie, I realise that patience is not one of her virtues, neither does she suffer fools gladly, however I will say that HiArt & I have very thick skins, we both realise that she says the things she says with the very best of intentions, and I know that I speak for us both when I say that we can take, accept & recover from herr beatings and bounce back, and we will do so until we have this cracked!

So thanks Julie and have a great weekend!

Julie is encouraging me to look at Spot EUR/USD to draw my attention away from Crude Oil when it is offering a less than attractive set up. So the attached pdf document may my helpful to you.

Folks, please note that PATe is not just Pivot Points.......it is a blend of Daily Standard Pivot Points (the right ones from livecharts.co.uk ) with BRNs and MPs. That is what makes it tick !!!

Dentist this morning, no trades

Hello stochman,
I couldn't find any trace of "rule 7" or any other numbered rule on Julie's site. Could someone please give me a link to the numbered rules defined by Julie ?

Thanks.

Also I found the attached pdf very interesting. How can we access to them ?
I didn't find any trace on Julie's website.