DislikedHow are u buddy ?
want some guidance weather im doing right or
plz check the chart for the questions.Ignored
1 target is then something else. That's up to you how you want to manage trades.
Hope this helps.
Where can I learn more about Price Action like those in James16 charts? 9 replies
DislikedHow are u buddy ?
want some guidance weather im doing right or
plz check the chart for the questions.Ignored
DislikedHow are u buddy ?
want some guidance weather im doing right or
plz check the chart for the questions.Ignored
DislikedHi Mike. Thanks for sharing with us with such an amazing trade.
I've just been thinking how is that possible that you didn't close the transaction on BE when you were about 400 pips green and then a price dropped below your entry? At your screen I can see that you opened transaction somewhere around 0,7850, then a price rose to 0,8241 (max 29th August 2011) and then a price dropped to 0,7820 (min 5th September 2011) so you "lost" more than 400 pips and you were already red after that!
I think it's against any rules to keep open transaction...Ignored
DislikedFTA is first trouble area and that is first ppz in this case. Check the closest lows/highs or where you can see both.
1 target is then something else. That's up to you how you want to manage trades.
Hope this helps.Ignored
DislikedHe is pro, mate . I think of it that way: when u risk certain amount risk% each trade this is not painful. He had huge stop, but he still took 2% of his risk. It was superb setup, in what he believed. I think he could lose not much in it. F.e. I calculated that if I had this trade similar as Mike f.e. with 5000 dollars account (account I can afford today) my total profit on that one were only around 360 bucks for a year if 3% of risk . Common trade just big moves and A+setup he believe it is. Just my view of it, waiting for Mikes replyIgnored
DislikedI think this is the 1st trouble area.
I would not buy this till after the break and pullback.Ignored
DislikedIs there anyway you could start posting your trades live like Mike and Rust do?
No problem if you can't...
thanks!Ignored
DislikedRafstraszek thanks for that nice explanation.
I have some more questions about this plz.
I entered AUD/JPY on PBT&CA some days ago and I was 30 + pips green before reaching to FTA. but the trade reversed and closed on BE. as u saying that 30plus pips means u have reached to FTA. can u evaluate my chart weather I had identified my FTA (as 1st target) correctly or not. if yes then do not u think it contradict to your view (30 pips) as it was round about 80 pips away from my entry. Moreover, moving to BE in this trade after 30, was it a...Ignored
DislikedFTA is first trouble area and that is first ppz in this case. Check the closest lows/highs or where you can see both.
1 target is then something else. That's up to you how you want to manage trades.
Hope this helps.Ignored
DislikedHey Rami , in your chart , you wrote " Sell " , why did you sell there ???Ignored
DislikedI would like to share two things that I do that I had not discussed before ... ( I do not know whats Jarroo's take on this one , its what I do ) . First is
Many of you got trapped in that AUD/JPY PBT&CA , but I did not ... There is a reason for that which I think is very important ...
Have you all ever wondered what are the strong area's to take the trade Upon ???
The answer is , where a number of HCRs/LCSs comes close together ... Obviously ...
So , when 2 or three or what ever number of HCRs / LCSs comes close together , I never...Ignored
DislikedAnd where you place your pending order, lets say on first example? You have three hcr/lcs - you choose the lowest, the highest, or maybe the most recent?Ignored
DislikedI think that uptrend is tired (nice divergence) and close below 1.05 will be crucial.
But now is to early for entry - price is in consolidation, but we already had false breakout up, so reliable breakout down is very likely.Ignored
DislikedHi Mike. Thanks for sharing with us with such an amazing trade.
I've just been thinking how is that possible that you didn't close the transaction on BE when you were about 400 pips green and then a price dropped below your entry? At your screen I can see that you opened transaction somewhere around 0,7850, then a price rose to 0,8241 (max 29th August 2011) and then a price dropped to 0,7820 (min 5th September 2011) so you "lost" more than 400 pips and you were already red after that!
I think it's against any rules to keep open transaction...Ignored
Quoting Chanya;DislikedHey Rami , in your chart , you wrote " Sell " , why did you sell there ???Ignored
DislikedFor example he took lcs from beginning of april, price close below on end of april and retest recently...Ignored