If not up, then down, otherwise sideways :-)
james16 Chart Thread
- #129,004
- Edited 9:07am Nov 29, 2013 3:15am | Edited 9:07am
- Joined Jan 2008 | Status: <<--(-$-)-->> | 5,571 Posts
That's CHF/SGD in full steam right there. That would have been my final TP. 
Congrats to anyone who caught this one all the way.
g.
Congrats to anyone who caught this one all the way.
g.
I believe . . .
- #129,005
- Nov 29, 2013 4:10am Nov 29, 2013 4:10am
That's CHF/SGD in full steam right there. That would have been my final TP.
Did you enter at close of that bar or on the yellow line. And where did you place your SL? Thank you for sharing your ideas.
Lose small, win BIG
- #129,006
- Nov 29, 2013 4:11am Nov 29, 2013 4:11am
That's CHF/SGD in full steam right there. That would have been my final TP.
I see a supportlevel has been tested several times. But what triggers the decision to buy?
Posting Demo charts, mirroring some of them live.
- #129,008
- Nov 29, 2013 9:24am Nov 29, 2013 9:24am
- Joined Jan 2008 | Status: <<--(-$-)-->> | 5,571 Posts
{quote} Nice catch ghous, Did you enter at close of that bar or on the yellow line. And where did you place your SL? Thank you for sharing your ideas.
I had entered earlier on the close of the bullish bar that completed the fake out scenario for me. I talked about it here and later commented on the exit here
This turned out to be a +1R trade for me, but I do regret closing the trade before waiting for the daily close on the FOMC day when price dropped sharply as a result of the speech only to close higher leaving behind a weak bearish bar that only fueled the bullish move further.
g.
I believe . . .
- #129,009
- Nov 29, 2013 9:29am Nov 29, 2013 9:29am
- Joined Jan 2008 | Status: <<--(-$-)-->> | 5,571 Posts
{quote} What PA would have been the entry signal? I see a supportlevel has been tested several times. But what triggers the decision to buy?
With my fake outs what I am looking for is price to penetrate a swing point, get rejected and close back into it. This may or may not be represented by our traditional PA bars. We did have a pin bar in this case, but the trigger bar for me was the bullish inside bar that closed above the prior swing points completing the fake out story.
g.
I believe . . .
- #129,010
- Nov 29, 2013 9:30am Nov 29, 2013 9:30am
- Joined Jan 2008 | Status: <<--(-$-)-->> | 5,571 Posts
This is what happens when people spend too much time looking at charts and not looking at the mirror... If your struggling on daily/weekly don't bother with m5. Have a great weekend. (the picture is not me)
g.
I believe . . .
- #129,012
- Nov 29, 2013 12:06pm Nov 29, 2013 12:06pm
This is what happens when people spend too much time looking at charts and not looking at the mirror... If your struggling on daily/weekly don't bother with m5. Have a great weekend. (the picture is not me)
i guess now i will place a mirror in front of my charts and watch the chart through the mirrors.
So i can get to watch both at the same time.
.Al
- #129,016
- Nov 30, 2013 10:10am Nov 30, 2013 10:10am
- | Commercial User | Joined Aug 2006 | 12,004 Posts
- #129,017
- Nov 30, 2013 12:36pm Nov 30, 2013 12:36pm
- Joined Mar 2009 | Status: Hobby Trader | 4,477 Posts
{quote} i mean how you plan to trade it?
Hi trexy,
First the most important thing we as J16 traders look for is PA in the form of Pinbars, BUOEBS, BEOEBs, etc. etc. in good locations giving a higher probability of a successful trade.
Here's my take on GBPUSD:
The weekly chart did have a BUOEB that bounced of support and in hindsight one could have traded that long. However I think many passed because it was trading right back into the box. I don't think these trades are wrong just as long as you are aware of where your trouble areas are.
The daily chart also had a couple of PA bars but both were "with-trend" and as taught here tend to be trickier to play. Again not wrong just something each trader needs to evaluate for themselves. Now I think the question you are asking is what to do once price breaks out of the top of the box/es which it has. So far there has been no PA to enter a trade on the break out. If price had broken out of the box with a big BUOEB then a long on a retrace or break of the BUOEB probably would have been possible. But since there is no PA I think we are stuck waiting for a pull back to the top of the box. After a pullback of course we need to wait for PA to occur.
We must be aware of PA to the left as there are some more highs that can act as trouble areas.
- #129,018
- Nov 30, 2013 3:44pm Nov 30, 2013 3:44pm
- | Joined May 2010 | Status: Trader | 1,100 Posts
Results are in !!
Well after 3 months of live trading (after many months backtesting) the results are in:
Sept: 6% (1 trade)
Oct: 8% (2 trades)
Nov: 4% (1 trade)
One thing I have noticed aftere going back through the charts is that I did miss a few really decent setups simply because I wasnt looking at the charts much. I have a full time job and when I get home after work cant really be bothered to load up the charts (not good I know - need to fix that ASAP).
Live results are not as good as backtest results but thats mainly due to the reasons above
One of the major benefits of trading with a full time job though, is that It prevents you from constantly looking at the charts, going down to the really low TF's and just over analysing everything !
Anyway I hope this provides some reassurance to people in a similar situation and wondering if trading will ever work out...it will ! Just keep at it !
Take care all
Dan
Well after 3 months of live trading (after many months backtesting
) the results are in: Sept: 6% (1 trade)
Oct: 8% (2 trades)
Nov: 4% (1 trade)
One thing I have noticed aftere going back through the charts is that I did miss a few really decent setups simply because I wasnt looking at the charts much. I have a full time job and when I get home after work cant really be bothered to load up the charts (not good I know - need to fix that ASAP).
Live results are not as good as backtest results but thats mainly due to the reasons above
One of the major benefits of trading with a full time job though, is that It prevents you from constantly looking at the charts, going down to the really low TF's and just over analysing everything !
Anyway I hope this provides some reassurance to people in a similar situation and wondering if trading will ever work out...it will ! Just keep at it !
Take care all
Dan
Yeah good work Dan but not being bothered to load up the daily charts is pretty lame! It only takes like 10 mins. I also work and only can trade the dailies but I am forever opening them up and scrolling around, back testing etc and cant wait to check them for the first time every day to see if there is a set up.
It only takes like 10 mins. I also work and only can trade the dailies but I am forever opening them up and scrolling around, back testing etc and cant wait to check them for the first time every day to see if there is a set up.