On-site guru & also FF member's' psychiatrist, when not drinking tea
james16 Chart Thread
- #120,741
- Nov 12, 2012 11:37am Nov 12, 2012 11:37am
- Joined Nov 2007 | Status: left CanaryWharf desk-tea break | 24,286 Posts
- #120,743
- Nov 12, 2012 12:45pm Nov 12, 2012 12:45pm
- | Commercial User | Joined Aug 2006 | 12,004 Posts
Hi guys
First week here in this forum, now reading from first post till 2000 posts, it's really huuugeee thread...I think it will take realy a lot time to read all thread... sorry for my english(( thank you for everybody who is here and still developing this thread... thank you James for this great forum....it's realy great one. I'm newbie in forex and already lost 1000 dollars((( and decided to have more skills before trading with real money... thank you for everybody...
GOod idea moving to demo trading while learning. That's the first best step you can take
Best
Mike
- #120,745
- Edited 1:58pm Nov 12, 2012 1:43pm | Edited 1:58pm
- Joined Nov 2007 | Status: left CanaryWharf desk-tea break | 24,286 Posts
On-site guru & also FF member's' psychiatrist, when not drinking tea
- #120,746
- Nov 12, 2012 2:26pm Nov 12, 2012 2:26pm
- Joined Feb 2009 | Status: kiki soso largyalo | 2,243 Posts
meine augen sind die sterne
- #120,747
- Nov 12, 2012 2:32pm Nov 12, 2012 2:32pm
- Joined Oct 2010 | Status: full time beer drinker | 1,345 Posts
Not sure what your aud usd look like now Bull ? how do you read
Hey Karl,
I understand you very well. This is a question i bet many people have asked themselves (including me). Let me ask you a question, i hope will light a bulb
1 - "I think, we need 3 touch at least to call something as a "trendline", because between two point you can draw lines everywhere."-> good way of thinking, i agree.
2 - "So, you can realize a line as a trendline, on the 3rd touch, and you can trade it firstly on the 4th touch." -> [b]Who tells a trendline must be traded only in the direction of the previous bounces...
FANTASTIC post Rust, thank you for this
Thank you J16 & Trader Dante
- #120,750
- Nov 12, 2012 3:22pm Nov 12, 2012 3:22pm
well if how to take profit is your only problem your doing well ,I have same issues so not my forte ,someone experienced like Mike may help
I still have a lot of things to learn. I'm lucky to be in a trade at +30 pips with stop at BE, so I'm wondering how to have the best exit.
To be honest, I really believe that learning how to exit trades is as important than learning entries. I'm just thinking that long term, a bad entry cost 50-100 pips SL, and a bad exit can cost much more.
I guess today is holiday in US which does not help also this is a trouble area ,there is a tl which price hasn’t made anything pretty on yet ,I dont believe
weekly /monthly suggests much lower I think ,
GBP is bearish but on good support
this is a new zone in my eyes ,a break
On the weekly, lower TL shows a possible targert at 1.56...
- #120,751
- Nov 12, 2012 3:25pm Nov 12, 2012 3:25pm
- Joined May 2010 | Status: HCR-LCS SFP | 6,026 Posts
Hi Karl,
don't leave your setups cause someone told he doesn't like it. I like your comments on your charts and i think you will develop a good eye. If someone has a different view, that doesn't mean your sucks. Sometimes 2 people take different directions on a single chart and both make money (or lose). But you should trust yourself in the first place.
PS the_wizard is one of the very good traders this thread has produced. Don't know why he doesn't post here anymore. The guy has a few threads of his own btw. You could check em out if you want...
Thank you for your advices, and for the good words too. I don't know....maybe i shouldn't leave this setup, but i saw your attached chart....It was a crystal clear situation not like mine. At the beginning in this thread James wrote so many times: The only way to be succesful, if you're really picky. "As they say, not having a position, is a position."
I've checked the_wizard.....
- #120,756
- Nov 12, 2012 9:54pm Nov 12, 2012 9:54pm
Hi Everyone ,
Its been few months I have been reading this thread. No doubt this is wealth of knowledge.
I have been trading since 2008-09 and been in loss religiously. After trading every indicator on this earth , I tried PA. I learnt (In theory) what I think people trade here i.e. (Pin Bar, BUOB, BEOB, DBLHC,DBHLC & Inside Bar) . In practical I tried them and practicing on demo now (No money left
... and specially after reading James thread for trying in demo and be successful for three month before you I change the time frame and keep trying in demo.
I hope you guys can help me and I can learn from you guys not to make mistakes.
I am posting my first chart which was USDJPY , There is a pinbar (mentioned in circle) and it the price broke today on upper side . Was or Is this a valid setup ? Pleas let me know your thoughts
Thanks
JJ
Its been few months I have been reading this thread. No doubt this is wealth of knowledge.
I have been trading since 2008-09 and been in loss religiously. After trading every indicator on this earth , I tried PA. I learnt (In theory) what I think people trade here i.e. (Pin Bar, BUOB, BEOB, DBLHC,DBHLC & Inside Bar) . In practical I tried them and practicing on demo now (No money left
... and specially after reading James thread for trying in demo and be successful for three month before you I change the time frame and keep trying in demo.I hope you guys can help me and I can learn from you guys not to make mistakes.
I am posting my first chart which was USDJPY , There is a pinbar (mentioned in circle) and it the price broke today on upper side . Was or Is this a valid setup ? Pleas let me know your thoughts
Thanks
JJ
- #120,757
- Edited 2:30am Nov 13, 2012 12:36am | Edited 2:30am
Hi Everyone ,
Its been few months I have been reading this thread. No doubt this is wealth of knowledge.
I have been trading since 2008-09 and been in loss religiously. After trading every indicator on this earth , I tried PA. I learnt (In theory) what I think people trade here i.e. (Pin Bar, BUOB, BEOB, DBLHC,DBHLC & Inside Bar) . In practical I tried them and practicing on demo now (No money left
Welcome here. There are a lot of reasons to not go long on this setup : PB closed under PPZ (Blue line on your chart), BRN, descending TL...
On the Weekly there is a BEOB, so this daily Pinbar could be a pull-back to PPZ before falling down. Check posts from the last 2 days on CADJPY on USDJPY, it could help to answer you.
See ya !
EDIT : My chart is a WEEKLY chart, I just saw that informations at the top of the chart are in french.
- #120,759
- Nov 13, 2012 1:57am Nov 13, 2012 1:57am
- Joined Oct 2010 | Status: full time beer drinker | 1,345 Posts
GOLD
is going crazy again, freaky moves so be careful with your SL
is going crazy again, freaky moves so be careful with your SL
- #120,760
- Nov 13, 2012 2:03am Nov 13, 2012 2:03am
- Joined Oct 2010 | Status: full time beer drinker | 1,345 Posts
Hi Everyone ,
Its been few months I have been reading this thread. No doubt this is wealth of knowledge.
I have been trading since 2008-09 and been in loss religiously. After trading every indicator on this earth , I tried PA. I learnt (In theory) what I think people trade here i.e. (Pin Bar, BUOB, BEOB, DBLHC,DBHLC & Inside Bar) . In practical I tried them and practicing on demo now (No money left
you find the right place and the right people to be successful ! Demoing (work) hard and listen what the other guys saying :nerd: