Was on my watchlist, but missed it 
Thought you gonna like it Mike
Thought you gonna like it Mike
It's all psychology...
james16 Chart Thread
- #128,483
- Oct 31, 2013 6:05am Oct 31, 2013 6:05am
{quote} Here we go: {image} {image} {image}
So the right way to play the USDHRK trade is by placing a buy lmt order at brn 5.6 or wait for bullish price action signals trading away from the brn5.6, correct?
Neytiri
- #128,484
- Edited 7:13am Oct 31, 2013 6:24am | Edited 7:13am
{quote} Hey there.. Heres a pic of two brokers i have for the pair.. Check that the brokers are at the same time and if not then there is your problem.. Otherwise maybe there price feed is a little different.. {image} Josh
Thanx for the reply. I Dont think its about the time. I use to notice that, which is usually the cause of the difference in bar shapes and sizes. But i think this is different. There is a gap on Fxpro feed nw while there is non on Lite Fx feed and notice the huge difference in the current market price as opposed to your posted feeds(charts). I think Mike or Ghous could be able to shed more light on this.
Jibson
Still trying to get to meet myself...
- #128,485
- Oct 31, 2013 6:49am Oct 31, 2013 6:49am
Orders placed.{image}
Hey Winston,
I understand why you took the trade (major ppz, swing high, huge beob and close below brn 97). But price could have simply bounced off the trendline, right? Then why did you take the trade?
Neytiri
- #128,486
- Oct 31, 2013 7:36am Oct 31, 2013 7:36am
{quote} Hey Winston, I understand why you took the trade (major ppz, swing high, huge beob and close below brn 97). But price could have simply bounced off the trendline, right? Then why did you take the trade? Neytiri {image}
When the going gets weird, the weird turn pro.
- #128,487
- Oct 31, 2013 8:16am Oct 31, 2013 8:16am
{quote} Hey man, only my opinion (though one I formed after watching every webinar James ever did), but a trendline can't compete with support and resistance, so I don't think I'd ever let a trendline stop me taking a trade. Obviously I'd keep an eye on it, but maybe the best way is to backtest it and see what you think.
Stark
I totally agree with you on trend lines. I used to do trend trading before but now I find support and resistance more basic than that. Can you tell me one thing. How to post a comment on this thread without quoting anybody. Because I want to use this thread only to post the trades that I am taking and get some feedback.
Prasad
- #128,488
- Oct 31, 2013 8:42am Oct 31, 2013 8:42am
- Joined Mar 2009 | Status: Hobby Trader | 4,477 Posts
{quote} Hey Winston, I understand why you took the trade. But price could have simply bounced off the trendline, right? Then why did you take the trade? Neytiri {image}
Hey Neytiri,
You say you understand why I took the trade "(major ppz, swing high, huge beob and close below brn 97)" What more reason do you need? Then you ask why I took the trade???
The reasons you stated are good enough in my book. There will almost always be some kind of obstruction (s/r, TL, box, etc. etc.) that will get in the way of your trade. The thing I ask myself: Is the setup strong enough to overcome the obstructions? That is why Mike is so picky about the quality of the price action candle and the setup in general. Why take a small pinbar into major obstructions. If it's a huge pinbar then it may have enough power to overcome traffic. Being aware of traffic or other obstruction is important but it is not always a reason to pass on the trade.
Hope this helps. Happy Halloween!!!
- #128,489
- Oct 31, 2013 8:43am Oct 31, 2013 8:43am
- Joined Mar 2009 | Status: Hobby Trader | 4,477 Posts
- #128,490
- Oct 31, 2013 8:44am Oct 31, 2013 8:44am
- Joined Jan 2008 | Status: <<--(-$-)-->> | 5,571 Posts
Here is a quick Evaluation of my performance so far, implementing as i continue to Learn. Although the number of trade is crazy (36 Trades in 1 1/2 month) including those i took and close in few hours to minutes, including the very bad trades i learn t lessons from and the good ones i allowed to run. I have not been able to hold an account for this long before i came across james16. Despite the crazy number of trades executed i still ended up just above BE (Profit Factor=1.19) which is a great achievement for me after barely 3 months of studying...
You're right in that the frequency of trading needs to go down and you can imagine how that would create a positive impact on your equity curve.
g.
I believe . . .
- #128,491
- Oct 31, 2013 8:49am Oct 31, 2013 8:49am
- Joined Jan 2008 | Status: <<--(-$-)-->> | 5,571 Posts
Pls Mike and Ghous what is the reason for this huge difference in the Fxpro/ Litefx feed that i use
I just referred to my Fxpro demo feed and the chart I see is the same as the Litefx one. Here it is:
Going by the chart you attached, I see it actually showed a gap which makes me think this might have been a glitch with Fxpro's feed which they rectified.
With these retail brokers, you gotta live with these issues.
g.
I believe . . .
My first trade on a real account, after 3 months of trial account.
IB took on the daily chart, TP at BRN 0.85
Although there breakout TL, now is not too soon to think I came out.)) Does anyone take this trade?
Sorry for my bad English.
IB took on the daily chart, TP at BRN 0.85
Although there breakout TL, now is not too soon to think I came out.)) Does anyone take this trade?
Sorry for my bad English.
It's only after we've lost everything that we're free to do anything.
- #128,493
- Oct 31, 2013 8:58am Oct 31, 2013 8:58am
- Joined Jan 2008 | Status: <<--(-$-)-->> | 5,571 Posts
I believe . . .
- #128,494
- Oct 31, 2013 8:58am Oct 31, 2013 8:58am
{quote} Hey Neytiri, You say you understand why I took the trade \"(major ppz, swing high, huge beob and close below brn 97)\" What more reason do you need? Then you ask why I took the trade???
- #128,495
- Oct 31, 2013 9:00am Oct 31, 2013 9:00am
- Joined Jan 2008 | Status: <<--(-$-)-->> | 5,571 Posts
{quote} Thanx for the reply. I Dont think its about the time. I use to notice that, which is usually the cause of the difference in bar shapes and sizes. But i think this is different. There is a gap on Fxpro feed nw while there is non on Lite Fx feed and notice the huge difference in the current market price as opposed to your posted feeds(charts). I think Mike or Ghous could be able to shed more light on this.
Either ways, you need to drop an official complain with them.
g.
I believe . . .
- #128,496
- Oct 31, 2013 9:07am Oct 31, 2013 9:07am
- Joined Jan 2008 | Status: <<--(-$-)-->> | 5,571 Posts
{quote} Took a similar setup but as a fake out setup (which is how I trade). I am normally very hesitant to share much here on this thread about this method as I don't want to steer the direction of the thread off the basic material which is all that the newbies need to be focusing on but for those that have been around a bit, here's some food for thought. {image} In case you're wondering, there was no PA bar there. But its not a touch trading method either. I am pretty picky about the actual trigger bar that I take. It needs to clearly take price...
g.
I believe . . .
- #128,497
- Oct 31, 2013 9:10am Oct 31, 2013 9:10am
- Joined Jan 2008 | Status: <<--(-$-)-->> | 5,571 Posts
My first trade on a real account, after 3 months of trial account. IB took on the daily chart, TP at BRN 0.85 Although there breakout TL, now is not too soon to think I came out.)) Does anyone take this trade? Sorry for my bad English. {image}
Nice first live trade buddy.
Lovely pull back to the broken trend line with PPZ confluence.
You didn't show this on the chart, but I am hoping you were able to spot this.
g.
I believe . . .
- #128,498
- Oct 31, 2013 9:20am Oct 31, 2013 9:20am
- Joined Jan 2008 | Status: <<--(-$-)-->> | 5,571 Posts
Here's a setup on the NZD/CHF. Another typical fake out scenario with price dropping hard under the prior swing low and then completely losing momentum.
Yesterday's BUOB took out the low a bit but it was a late sessions surge which ended up in a BUOB by the end.
The trigger for me was the small bullish inside bar right after the bar that popped under the swing low and the RN with stop under the prior's bar low.
Its been very slowly going the last couple of months. Glad to see things starting to move a bit. Unfortunately we die out again towards the last bit of December and early January.
g.
Yesterday's BUOB took out the low a bit but it was a late sessions surge which ended up in a BUOB by the end.
The trigger for me was the small bullish inside bar right after the bar that popped under the swing low and the RN with stop under the prior's bar low.
Its been very slowly going the last couple of months. Glad to see things starting to move a bit. Unfortunately we die out again towards the last bit of December and early January.
g.
I believe . . .
