Come on let's see the PA then.
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james16 Chart Thread
- #122,901
- Jan 30, 2013 6:18pm Jan 30, 2013 6:18pm
- Joined May 2010 | Status: HCR-LCS SFP | 6,026 Posts
- #122,902
- Jan 31, 2013 12:21am Jan 31, 2013 12:21am
- Joined Feb 2009 | Status: kiki soso largyalo | 2,243 Posts
meine augen sind die sterne
- #122,903
- Edited 4:38am Jan 31, 2013 4:24am | Edited 4:38am
Hi,
I am new here. At the begining I would like to thank James and other senior members of the thread....I am quite sure that without your help I would blown my account. I follow the thread about 5 months and I am still learning.
I know that there is a lot of time to the end of the day but if AUD/USD holds, this will be A+ setup, am I right?
double bottom (two pins, looks like a rocket
)+ TL+ 150 EMA+ 1.40 RN
FTA about 1,4750
Major resistance 1,50 RN
Sorry for my english
I am new here. At the begining I would like to thank James and other senior members of the thread....I am quite sure that without your help I would blown my account. I follow the thread about 5 months and I am still learning.
I know that there is a lot of time to the end of the day but if AUD/USD holds, this will be A+ setup, am I right?
double bottom (two pins, looks like a rocket
)+ TL+ 150 EMA+ 1.40 RNFTA about 1,4750
Major resistance 1,50 RN
Sorry for my english
- #122,906
- Jan 31, 2013 5:43am Jan 31, 2013 5:43am
- | Joined Feb 2010 | Status: Make Them Pay | 1,103 Posts
Anything can happen.
- #122,907
- Jan 31, 2013 5:43am Jan 31, 2013 5:43am
- Joined May 2010 | Status: HCR-LCS SFP | 6,026 Posts
This is at least the third time you have spammed this thread, with no input at all.
Would you kindly stop spamming this thread with your blog link?
You provide nothing to this thread but continue to post your blog link.
Obviously, not many people are interested in your blog, hence your need to spam other threads.
Would you kindly stop spamming this thread with your blog link?
You provide nothing to this thread but continue to post your blog link.
Obviously, not many people are interested in your blog, hence your need to spam other threads.
- #122,910
- Jan 31, 2013 8:21am Jan 31, 2013 8:21am
- | Commercial User | Joined Aug 2006 | 12,004 Posts
Hi,
I am new here. At the begining I would like to thank James and other senior members of the thread....I am quite sure that without your help I would blown my account. I follow the thread about 5 months and I am still learning.
I know that there is a lot of time to the end of the day but if AUD/USD holds, this will be A+ setup, am I right?
double bottom (two pins, looks like a rocket
FTA about 1,4750
Major resistance 1,50 RN
Sorry for my english
Welcome to the thread, glad to hear it has been helping so far
This is a tricky setup
This would be a pinbar but in a LOT of traffic. (check out my video called space vs traffic in the guest area). If you notice price is stuck in a larger box(which is the support area that you are looking to trade off). I wouldn't call it a double bottom since price never moved far away for a larger amount of time from the previous swing. Instead what that does is stick us in another very smaller box. This makes us trading right into a problem area(aka traffic). So now you are trading in a very tight area where price is likely to bounce around or trade quickly into trouble. These tend to give traders difficulty. Instead I would like to see you look while starting out for pinbars at clear swing points. I marked a pinbar at a double top which is much easier to see and trade.
Hope this helps and again welcome
Mike
Hi guys.
I got a question about risk.
AS a noob my risk shall not exceed the 3% limit. But how many trades shall I take with this risk? I mean if there is a nice day, I make a few trades, and then my overall risk is around 10%. How about when I have 2 trades already - lets assume they are at +0 or a little bit negative - do you make the next trade? So how do you manage it?
Thanks,
Stephen
I got a question about risk.
AS a noob my risk shall not exceed the 3% limit. But how many trades shall I take with this risk? I mean if there is a nice day, I make a few trades, and then my overall risk is around 10%. How about when I have 2 trades already - lets assume they are at +0 or a little bit negative - do you make the next trade? So how do you manage it?
Thanks,
Stephen
It's all psychology...
- #122,913
- Jan 31, 2013 11:39am Jan 31, 2013 11:39am
Hi guys.
I got a question about risk.
AS a noob my risk shall not exceed the 3% limit. But how many trades shall I take with this risk? I mean if there is a nice day, I make a few trades, and then my overall risk is around 10%. How about when I have 2 trades already - lets assume they are at +0 or a little bit negative - do you make the next trade? So how do you manage it?
Thanks,
Stephen
Hope it helps!
- #122,914
- Jan 31, 2013 11:41am Jan 31, 2013 11:41am
- | Commercial User | Joined Aug 2006 | 12,004 Posts
Hi guys.
I got a question about risk.
AS a noob my risk shall not exceed the 3% limit. But how many trades shall I take with this risk? I mean if there is a nice day, I make a few trades, and then my overall risk is around 10%. How about when I have 2 trades already - lets assume they are at +0 or a little bit negative - do you make the next trade? So how do you manage it?
Thanks,
Stephen
Firstly I think 3% risk is very high for a new trader. A few bad trades and your account is down 10%. That is painful! While individual risk tolerances will vary greatly from person to person, I think a .5-1% risk per trade is much easier to deal with emotionally while getting a handle. One can always increase risk as they improve.
As for max risk open, again individually will vary. I think again at 3% risk per trade you have 3-4 trades open and they all bomb and you'll be in the dumps. What I see that makes me most nervous is we'll get a day where you get pinbars across many pairs. THey are generally correlated based on the same days action. People open 4-5 trades at 3% risk(because the upside is oh so tempting). Then all 5 trades lose and that person now has their account in a lot of trouble.
At a smaller risk having more trades will not lead to such disaster and often a bit more flexibility. It doesn't change the fact that one needs to watch that but still will allow for more error. I generally don't want to have that much OPEN risk out there. I might have 5+ trades open but usually risk is reduced on them, or profit locked in etc so my OPEN risk is never too high. Again play around with what is comfortable but still be very careful of exposure(obviously it's something you are looking into which is great).
Best
Mike
- #122,917
- Jan 31, 2013 12:43pm Jan 31, 2013 12:43pm
- Joined Feb 2009 | Status: kiki soso largyalo | 2,243 Posts
This is at least the third time you have spammed this thread, with no input at all.
Would you kindly stop spamming this thread with your blog link?
You provide nothing to this thread but continue to post your blog link.
Obviously, not many people are interested in your blog, hence your need to spam other threads.
meine augen sind die sterne
Hey Stephen
Firstly I think 3% risk is very high for a new trader. A few bad trades and your account is down 10%. That is painful! While individual risk tolerances will vary greatly from person to person, I think a .5-1% risk per trade is much easier to deal with emotionally while getting a handle. One can always increase risk as they improve.
As for max risk open, again individually will vary. I think again at 3% risk per trade you have 3-4 trades open and they all bomb and you'll be in the dumps. What I see that makes me most nervous...
It's all psychology...
