hey Ad,
What kind of a setup are we looking at here?
g.
How are ya, long time no speak
I was just looking for the bounce off the TL long back up to the 1.06 area keeping an eye on the first trouble area at 1.05..
What's your opinion?
Cheers,
A
james16 Chart Thread
- #118,841
- Sep 20, 2012 11:40pm Sep 20, 2012 11:40pm
How are ya, long time no speak
I was just looking for the bounce off the TL long back up to the 1.06 area keeping an eye on the first trouble area at 1.05..
What's your opinion?
Cheers,
A
Check out the Weekly and Daily Setup on the UsdMxn ..nice ..
Notice the Daily 365 ema (in black on the Daily) Confluence with our LCS levels.
Classic Setup meeting all of our criteria of Swing points and/or Consolidation, SPACE, Confluence, etc.
Jim
Sweet. Did you take it?
I don't need easy. I just need possible.
- #118,845
- Sep 21, 2012 4:17am Sep 21, 2012 4:17am
- Joined May 2010 | Status: HCR-LCS SFP | 6,026 Posts
No surprise there . .right Steve . .. .Strong Weekly / Daily LCS level.
A close above that level would have been nice.
Yes, Jim.
That is where I took another chunk off and just left the rest to play out at BE+. Took out my sl but, that was sort of the 90% expected.
- #118,849
- Sep 21, 2012 7:08am Sep 21, 2012 7:08am
Opps, Wrong BeovB
... we just need some clear sign of rejection to pull trigger down...we will get nice shorts on both GBPUSD and EURUSD soon... EURUSD is nicely rejecting attempts to run over 1.3030-1.3065 zone already.
i think next week bulls will give up on these pairs if nothing will happen extraordinary
all is eternal - this is good news for people who loves bad news
- #118,850
- Sep 21, 2012 7:54am Sep 21, 2012 7:54am
Hey guys. Id like to hear your thoughts about this.
Is very high risk (30-50%) just stupid and doomed strategy?
I like to speak more about expectancy than just risk procent.. Expectancy is defined as loss times possibility of a loss plus win times possibility of a win. So if we are extremelly picky, its possible to have the expentancies of the trades very high and profitable.
My scenario is here to have "risk account" and more conservative account of course where the main trading would happen. Picky means to me very obvious stories...
As Mike said it's totally possible to have a gambling account, but to risk 30-50% to a single (?) trade is veeeery high risk.
Remember the compounding effect. So e.g. to get 20% a week to a gambling account would require e.g. with 4% risk 1:5 R:R. Not possible!? Of course it is, but you just have to know what to do to get it. 20% a week would do you about 100% a month. And if you are good at what you do you can leave it there, maybe take the initial equity away and keep on gambling. Maybe you also need a plan how to take some off or all off and start again. And the main point is that you really have to be able to separate the gambling trading from the real one.
And above was just an example, you can do the math with any numbers, just don't forget the compounding effect.
- #118,851
- Sep 21, 2012 8:30am Sep 21, 2012 8:30am
- Joined Oct 2010 | Status: full time beer drinker | 1,345 Posts
Opps, Wrong BeovB
...i am ready to add another short position, after such a monster trend you have to be patient... but i could be wrong
- #118,852
- Sep 21, 2012 9:07am Sep 21, 2012 9:07am
- Joined Oct 2010 | Status: full time beer drinker | 1,345 Posts
EUR/GBP
i took this one...not exactly what james or mike teaching, but this is a nice bearish reversal candle pattern called "Three inside down"
Attachment
under BRN 0.8000, weekly downtrend is still in play...
- #118,853
- Sep 21, 2012 9:28am Sep 21, 2012 9:28am
Thanks for the comment Mike.
Your reply about the gambling account blew my mind.
Hope we don't see new people risking 50% in live accounts, on M15 next week. LOL
Hope my post didnīt confuse anybody. This should be a business, not a game, to everyone and james teaches us in post 1 what that means
Take care,
Nuc
- #118,854
- Edited 9:40am Sep 21, 2012 9:30am | Edited 9:40am
- Joined Sep 2005 | Status: J16 Senior Member | 13,635 Posts
Light bulb went on!
I should point out in our discussion of the EurAud at the 1.2500 Daily HCR level. That it did fail as Support when PBT&CA on the Daily. But not on the lower TFs. Many times these setups will show the Flip early and either hold or not hold. .
For example . .
Looking at the EurAud now at the 1.2358 that I posted to you. . .
. . .BAm!! Baby!! . .
.will this level hold as Support?? we'll have to wait until the day ends . .but right now it is . . . .nice bounce for about 50 pips, little if any draw down.
Indicators show the past. Price Action "Indicates" the future.
- #118,855
- Sep 21, 2012 9:33am Sep 21, 2012 9:33am
- Joined Sep 2005 | Status: J16 Senior Member | 13,635 Posts
Sweet. Did you take it?
I missed that one . .
Indicators show the past. Price Action "Indicates" the future.
- #118,856
- Sep 21, 2012 9:48am Sep 21, 2012 9:48am
- Joined Sep 2005 | Status: J16 Senior Member | 13,635 Posts
Indicators show the past. Price Action "Indicates" the future.
- #118,857
- Sep 21, 2012 10:06am Sep 21, 2012 10:06am
- Joined Sep 2005 | Status: J16 Senior Member | 13,635 Posts
This is what I have taken as my first trade
PB @ earlier high + Divergence.
Nice one ritesh . .
Indicators show the past. Price Action "Indicates" the future.
- #118,859
- Sep 21, 2012 10:16am Sep 21, 2012 10:16am
- Joined Sep 2005 | Status: J16 Senior Member | 13,635 Posts
sold loonie here with market order.
I believe you meant to say Weely "LCS" . .
Very nice meshka . .
Indicators show the past. Price Action "Indicates" the future.
