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  #55502  
Old Feb 19, 2010 5:06pm
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Originally Posted by michal7 View Post
Hi guys,

I'm doing my backtests and I found this pin bar. Here's my take on it:

+beautiful big pin bar
+off of the good support
+off of the round number (127.00)
+space

- did not close above BIG round number (130.00)
- quite solid resistances there right above that big round number

Those 2 minuses worries me a lot. This pin eventually worked out after some drawdown. But looking at that round number and trouble areas I'm not sure it is A+ setup. What do you think? Would you trade it/rate it A+??
This is an A+ setup. 130 is too far off so don't worry about that, identifying that trouble area you did is the key to everything on this one(and probably all trades).

These feed the account

Mike
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  #55542  
Old Feb 20, 2010 1:53pm
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Originally Posted by michal7 View Post
Thanks for reply Mike, do you mean that trouble area most on the right? Shouldn't I worry also about those others? Or are they too far to worry about them? Because price reacted at that level and retraced to about 1/3 of that big pin. I wonder where would Jim go break even?

Sorry if I'm asking too much questions, just trying to understand the best I can.

Thank you.
Mikey
Hey Mikey

My focus would be on the 3rd marked area you have. I can not speak for Jim when he will go to b/e. He might be up 30-40 pips and decide b/c his 30 pips is a boat load of money

Mike
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  #55582  
Old Feb 21, 2010 2:26pm
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Originally Posted by daveoz001 View Post
Just thought I'd take a minute to say hello.

I only started to read this thread last night, I have only read page 1 so far and am following the directions posted there, I have a LOT of reading AND learning to do!

It seems like this is a great place to do both.

I am very thankful to James16 and the other senior members who contribute so much of their time to share their knowledge and wisdom.
That is a rare gift not many people are willing to give.

Anyway that is enough from me, so a big HELLO to everyone.
And thanks in advance!!!

Dave.
Welcome Dave

Don't hesitate to ask questions along the way We got quite a "crew" of helpful people

Mike
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  #55587  
Old Feb 21, 2010 4:44pm
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Originally Posted by chatzi View Post
Hi Guys,

I am about to do some major back testing of the weekly/daily charts (for PA), I have a spreadsheet set-up to record everything. I intend to do this quite thoroughly and to have data that is significant for calculations. I also think it will solidify in my mind that this stuff works.

What is a good range of data to back test? I was thinking pick a few majors/crosses/gold/a few futures? Then test 2-3 years worth on each?

Any help is appreciated. I will share the results also.

Regards

Chatzi
Backtesting is good. You can get a good feel for your methods, and reasonable idea of what they may produce/drawdown. Obviously nothing will ever replace forward testing and that is why we do backtest - real demo - small live - increase etc. The more data the better. The more pairs the better. Their are drawbacks to backtesting, but I think it does much more good then harm if done correctly and honestly as possible.

It is tedious and eye numbing but worth it

Mike
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  #55612  
Old Feb 21, 2010 8:28pm
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Originally Posted by ehrek View Post
Alright my yank friends,

Get ready to get your ass whooped in hockey tonight.

Its on

GO CANADA GO!
a good one so far
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  #55614  
Old Feb 21, 2010 9:05pm
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Originally Posted by ehrek View Post
Good action, EH?

Canada has like 20 shots to 6 on the net. Miller is an awesome goalie.
wow talk about good action how can you not love this
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  #55621  
Old Feb 22, 2010 12:01am
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Originally Posted by daveoz001 View Post
Ok here they come!!!(Questions that is)
How well does this qualify as a pinbar?
It has retraced to the 61.8% level and is on it's way down.
Now personally I don't know if the pin extended as far as it should?
And I also wonder whether the entry into a trade like this should have been at the 61.8 level or at the break below the pin itself?
P.S I'm not after an entry tip, you can answer after it has happened if you like!!
Maybe I need to to some more reading to find the answers to these questions,
but I thought I'd ask anyway!
Thanks Dave.


Attachment 424024...
Hey Dave

This one is close. Reason being the the body of the bar (open - close) looks to be the same size as the nose. We want the nose to be larger then the body. So I would say depending on how strict someone is with their bar criteria. I would personally want to see a larger nose(see jarroos post above). As for entry. That is going to come down to the trader. The traditional and most common way is to wait for a break of the low of the bar, with a stop above the high. But many people enter on retracements, some on the close etc.

Hope this helps
Mike
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  #55624  
Old Feb 22, 2010 12:52am
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Originally Posted by Cherry View Post
Hello All,
Im being brave and trying to upload a chart of euraud wondering if this is a qualifying pin? It's not big but sits close to last montly support from 2000. There is good space above with first trouble looking like its back at 1.5400.
Is there anything else I should be seeing?
Huge thanks...
Cherry
Hey Cherry

I believe you are talking about the bar from 2/18? This is a very very very tiny bar vs a very very strong trend. What I would like to see you looking for are much larger size pinbars then this. While this might show price slowing down, it is not a very strong sign of reversal or anything significant. Against such strong downtrend we want to see some significant buying at a good level to qualify for a very high probability trade.

Hope that makes sense
Mike
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  #55632  
Old Feb 22, 2010 1:38am
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[quote=Cherry;3485714]
Quote:
Originally Posted by joelcf View Post
I see you are in Australia - keep in mind that most of the senior guys here are from the US or Europe, so it's the middle of the night there

Anyhoo, to your chart:

Joel, Hi and thanks for your reply too.
Yes I know all the activity happens when I have to sleep.. makes trading a bit harder too. Which brings the question... I have also been wondering how do you move stop to BE when you are asleep?! I have used a trailing SL but you end up getting hit as it's so tight.

Thanks for your input, I may be posting a bit...
I have never used this but I believe a lot of people use it to move to b/e while they sleep or are at work

http://www.forexfactory.com/attachme...2009%2011:31pm
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  #55636  
Old Feb 22, 2010 2:03am
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Quote:
Originally Posted by Cherry View Post
Thanks Mike,

Do you need to keep platform open for this? If windows decides to do an update and restart... or provider is doing upgrades.. as they are over night at present... then you're stuck!
not to sure bud, I believe MT4 most of them are client side, meaning you have to have your computer up and running etc. I don't use this stuff so I will let someone else help ya on the EA stuff

Mike
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  #55689  
Old Feb 22, 2010 12:44pm
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Originally Posted by Nustra View Post
greetings everyone,
although this is my first post i have been following this thread for about 2 years and demo trading while saving up for live gig.
sincere thanks to Jim, seeking light, mbqb11 and all those that have tirelessly contributed to this thread.
i have gone live last month and its really working so far, i might have to cut down on overtrading though, but so far so good.

@ Trigger88990;
could u elucidate on the set up u described, i have been trading it - both live and demo - and i even made a few chunk on the EU pair u posted but...
wow talk about really lurking! Glad to see you pop out and say hi Nustra
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  #55690  
Old Feb 22, 2010 12:47pm
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Originally Posted by bertie123 View Post
Hi all

As a J16 person who was derailed but now back on track, I would just like to ask if some of you guys have problems spotting the setups in real-time? I find I am seeing a lot of setups after the event(easy, I know) but am just not seeing them develop in real time - has anyone else had this problem how do you overcome this hurdle?

thanks guys

berti
Hey Berti

IMO this is just where you can't replace time and experience. B/C eventually what you study and learn starts to jump out in you real time. It is like anything else, you get better over time and build from your success and learn from your mistakes.

My 2 cents
Mike
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  #55691  
Old Feb 22, 2010 12:48pm
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Originally Posted by TiaForex View Post
Y
But if my observations of the seniors, and my experiences are anything to go by, you'll still sometimes find yourself scratching your head and going "how did I talk myself out of that one?" (just ask Mike about the peso..). It's much better, in my opinion, than scratching your head and saying "why did I take that one?"
hate you LOL
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  #55692  
Old Feb 22, 2010 1:00pm
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Originally Posted by Ryanmcd View Post
Doing well, just thought I would stop by and try to save a noob some hardach Same crap different day.
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  #55704  
Old Feb 22, 2010 3:31pm
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Originally Posted by joelcf View Post
2. post it!
yes post 1 these two posts LOL
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  #55737  
Old Feb 22, 2010 11:34pm
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Originally Posted by albertsy2 View Post
^Thanks, Jim!

BTW, I finally got my hands on Martin Pring's Price Patterns at the library, and he talks at length about how to use volume to confirm candlestick or bar formations.

For example, the bar before an IB will have much higher volume, or a TL breakout will show an increase in volume, etc etc.

Does anyone use this method?
Hey Albertsy

Forex market is not centralized thus we have no true volume information. The volume you see on your screen is Ticks. So the more time price moves(up or down) during the time of the bar the more "volume" it shows. IMO very inaccurate. Maybe some use it, but it is no where near the same as volume in a centralized market.

Best
Mike
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  #55740  
Old Feb 22, 2010 11:51pm
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Originally Posted by Ryanmcd View Post
Good point Mike, I know that in the e-mini volume is good, in forex it sucks to use because you do not get the correct info it seems.
yeah, and then some people will use futures forex volume, but futures represents such a very very small portion of the real market(spot since it is so huge is going to be where the majority of large orders are passed off). Not saying some might not find use for it, but I am not convinced
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  #55743  
Old Feb 23, 2010 12:13am
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Originally Posted by Deusomega View Post
I've been reading in a book called "The Way of the Dollar"(recommened by Darkstar in a post) that it might not be as insignificant as most would think:

"On an average day, the IMM will turn over about $12bn; and the total of
positions outstanding varies from around $15bn to $30bn+. These figures
may seem small in relation to the global figure of $600bn a day quoted
earlier, which is traded in the so-called “interbank*” market. But only a
tiny proportion of the interbank business is ‘real’ risk business, generated
by clients...
yes I have read that book many times(as you might imagine), but any way you slice it the figure is going to be small. Again as DS taught me long ago we all trade our beliefs. I have done my work in that regards and volume coming out of the futures market was not worth it for ME. That was my caveat with my previous posts that if it works for someone else go for it.
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  #55747  
Old Feb 23, 2010 1:31am
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Originally Posted by Cbh123 View Post
Hey Mike,

I'm rereading your old posts, and I just about fell out of my chair laughing at this one:

Post 1618, page 108:

"first I would suggest go through this thread(i know its big but well worth it) a few times"

Bet you never realized how small 108 pages would seem!



Thanks everybody who has made this thread great.

Cory
hahahaha
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  #55839  
Old Feb 23, 2010 12:19pm
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Originally Posted by Jduester View Post
... I'm learning that I can't simply have a checklist and make a decision blindly without using my God-given mind...

Instead, do the checklist... then ask

"What is the story with this chart?"

"Will other traders, and especially big traders/banks think this pair will move in this direction too? Or will I be trading against them?"

IMO, the answers can only come with chart time (experience) and learning from our trades, both good and poor trades.

Josh

Yes for sure Josh! Once we learn to start reading the story and allow ourselves too it gets a lot easier then trying to fit everything into a box

For me at least
Mike
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  #55841  
Old Feb 23, 2010 12:21pm
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Originally Posted by dmc View Post

This stuff is dirt simple folks! I am sure Mike got this one. Maybe not though because of some traffic

Attachment 425325
Yep took this one too well done DMC. I trade a bit different then most think here about traffic on an intraday level. I have 3 running positions the most exciting one was this.

ok lots of action last night = less sleep = time for coffee before my webinar

Saw some great charts here gonna catch up more later
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  #55895  
Old Feb 23, 2010 2:19pm
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Originally Posted by Piggleop View Post
Wow I got to say I thought my trading method was simple, (only price action with rsi sometimes)...this is some great stuff from what I've read. I don't get why you guys don't use candles though? To me, they show the same patterns you guys talk about yet make it more clear.
I use both, just how I am feeling. OHLC bars and candles show the exact same information, so it really is a personal preference

Welcome piggleop catching up on your introduction. Hang around and ask questions we are all here to help

Mike
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  #55902  
Old Feb 23, 2010 2:25pm
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Originally Posted by Ryanmcd View Post
Mike when are we going to have a J16 yearly get-to-gether?
in vegas right
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  #55918  
Old Feb 23, 2010 5:20pm
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Originally Posted by michal7 View Post
What do you think guys about this setup? (Jim, Mike, jarroo?)

My take:
+nice BUOB engulfing several previous bars
+extrem low
+off of the strong support from few years back
+very close from BIG round number (1.5000)
+divergence

-first minor trouble area quite near (30 pips)
-it's against a trend that is lasting 14 months
-didn't close above 3 prevous bars (on gmt+2 time frame, might still close above on gmt+1 or gmt time frame)

I'd say it's A setup for me for sure. Any thoughts?
Hey Michal

My problem lies in the bar itself as opposed to the location. I want to see a much stronger close then that. Although a buob it has a neutral look to it. I need that close higher personally

Best
Mike
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  #55950  
Old Feb 23, 2010 8:37pm
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Originally Posted by Asmodeus8 View Post
Hi Guys.

I'm lurking and reading this thread over and over. I'm planning to join James 16 page soon. You are doing great job in here, and the patience, support and time that you are giving to novice traders is awesome.

I'm demoing at the moment, and saving cash for account.

I have a quick question at the moment, how do you draw you Fibbs in the down trend? Is it 0.0 at the high and 100 at the low?
Hey Asmodeus

100 is at the high and zero is the low, since you are retracing 100% of the move

Here is a chart


Best
Mike
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  #56033  
Old Feb 24, 2010 12:02pm
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Just my comment

Swing points simply give you points to identify where to look for a potential trade. THey are clearly visible. So when price is trending down making a new swing low, everytime it makes a new low the trend has continued, but also that new low are great areas for cheap buying. Now again it comes down to location/PA or some combo. So if we make a new low(clear swing point) and we get a so-so PA. Well you can expect a so-so result. If we get a LARGE PA bar that has substantial buying, the probability that there is more buying then selling is going up thus, the probability(all things considered) that it will continue has now gone up. Trends both ways perpeutate themselves, you know the whole self-fulfilling thing. Trends are the best and biggest exampels of that(not fibs like the lies have you believe :P ).

As for overbought and oversold. It again comes down to what is taking place. Just b/c price has been moving down doesn't mean it is oversold. It just means there is heavy selling. Naturally the markets don't run forever and there is a rubber band effect. We have ways to identify where these buonces may occur using location and tools like divergence to give us a "heads-up" the key their is to give us a heads up not say ok bounce time. One of my favorite overbought/sold plays is simple. You have a trending market, it makes a new high/low bounces(people scream reverasl) price then blasts through and makes a new high/low(now we have our divergence) and we get the real buying/selling to kick in. Add in some PPZ, round numbers, your favorite PA bar. The picture gets real clear thanks to mr.james16

Quote:
Originally Posted by joelcf View Post
They do, which is why I said 'not a reason to trade', as opposed to meaningless

The reason we take reversal bars at a swing low is because that's what they are, reversals. If price is going up, it doesnt make sense to take a bullish reversal bar - there is nothing to reverse! In this case, the strong PA to mark out this 'line in the sand' just wasnt there, that big rejection of a level and move in the other direction.. hence the reason I didnt see it as a reason for a trade per se.

Hopefully Mike or Jimroo will be able to add to this,...
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  #56035  
Old Feb 24, 2010 12:21pm
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Originally Posted by jarroo View Post
You forgot one other thing Mike, the swing Highs/Lows provides beautiful S-P-A-C-E.
eeesh doh!
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  #56044  
Old Feb 24, 2010 12:56pm
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Originally Posted by triger88990 View Post
on this one take a loss trying to catch the top.

I found a very attractive PB on lower tf, at swing high with divergence(I know is not the best way to spot the divergente along that many bars)

and it took me out

and on my platform my BEOB it has already break out

Attachment 426143



mike is seems that this situation fit to your criterias

to me is a definitely YES, after it took off the last swing high it was a sell off of that area

is this a perfect example?

all the best!

thanks!
Hey Trig

You are getting there, but based on the fact that it is a 15min I am going to be even more picky so that pin won't fit the criteria. It is to small with a poor close. The better bar there is the BEOB that engulfs 5 prior bars. But this is the scenario I am speaking about although 15 min isn't where I want to see anyone

Mike
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  #56075  
Old Feb 24, 2010 3:39pm
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Here is a trade closed out today

4hr in a nice downtrend. Price consolidates in a bearish flag type pattern around the .7000 round number +ppz(look to the left of the pattern at that box of consolidation). Breaks out and pullbacks to round number former flag and forms a BEOB engulfing 7 bars or so with a very strong close. First blue box is b/e second was full take profit.
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  #56118  
Old Feb 24, 2010 8:22pm
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Was a busy week for me

The final trade I have closed down, smallest profit of the 3 and took the longest to get there but we made it

back to the bushes
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  #56120  
Old Feb 24, 2010 9:37pm
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Originally Posted by AlexWong76 View Post
Hi Mike,

I'm late to the group. I have been google for NorthFiance website but had no luck get on with the links. Anyone has the MT4NF server file upload so I can test demo it. greatly appreciate.

alex
Hey Alex

North Finance is now FXpro. That will get it for ya

Mike
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  #56123  
Old Feb 24, 2010 9:48pm
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Originally Posted by Ryanmcd View Post
Nice trend trade, Also whatca got going on with that macd lol
lol just use it for Divg, nothing fancy
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  #56124  
Old Feb 24, 2010 9:49pm
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Hey mike, here is a blast from the past, 2002 from my mentor. This is how I work the time into my deal, this was the sp e-mini but it follows the euro too because when the dow moves everything else does too now.....

Blast from the past, man 2002 seems like yesterday
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  #56126  
Old Feb 24, 2010 9:59pm
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Originally Posted by Ryanmcd View Post
I know it sucks right lol. Shit I was in IT at the time doing y2k testing for Bellsouth haha. Oh well same shit different day, that was all Bill Williams stuff too. The time things still works to this day, it's nice 10:30 12:30 2:30 RSI 20/80 short term high/low stuff but you know all this.

So when is a good time for Vegas? You think we could round up some people? Would be kinda cool.
I might be there end of year for a bachelor party so an extended stay wouldn't be bad :P
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  #56131  
Old Feb 24, 2010 10:18pm
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Originally Posted by TiaForex View Post
I'm visiting the states around then too. But I want a room with a tiger in it. Like 'The Hangover'. And you have to go to Mike Tyson's house.
hilarious movie
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  #56137  
Old Feb 24, 2010 10:39pm
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Originally Posted by PippingMama View Post
Hello Mike,

Nike classic trade around the big round number. Again, big bar.

I took the AUD/USD BEOB at 0.9000 and quick 40 pips profit.

Thanks!

PM
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  #56145  
Old Feb 25, 2010 12:39am
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Originally Posted by Piggleop View Post
nzd/usd - A mistake I've been making recently (i think), is trying to catch reversals based on being "oversold". This means I'm not seeing patterns indicating a change in trend but rather I assume price will bounce off support after a substantial decline because it's exhausted. From what I've seen, they aren't bad trades, but more likely mediocre at best. It tends to be consolidation and a breakout in the direction of the trend rather than a reversal. Example:

Attachment 426464

I'm really starting to value trading in the trend direction...
My views only below.

It gets easier Piggle. It's about understanding for yourself where the best locations are to start looking for PA. Be it looking for Double bottoms and potential reversal with PA. The problem I often see in general are people getting attached to their charts, instead of letting the market come to them. I wait days and days and sometimes weeks. And I get PM after PM after post saying, how can you sit on your hands this long, why not this bar or that bar. And simply b/c it doesn't fit into what I do so I wait. Start to find these locations that work for you(they are going to vary for each trader), then let the market come to you. I try never to be bias and force the market. When it is at an important area I recognize that and let it tip its hand. I define and let things line up and if they don't pass.

So you see price tredning strong and you are thinking how can I get into this. I think nothing more then where is the next good place to watch for a trade on any of my charts. I don't get fixated. If you value being with the trend then define a way to be with the trend you are looking at. It can be as simple as only looking for ppz at the 50% fib + PA. It can be whatever you want. You just have to begin to define or more solid way to identify things. More structure in summary and build from there. NZD/USD is an example you talk about, you can see how I got back in on a pullback a few posts back of mine. Everyone does it a bit different which is nice b/c you can put it together a few ways and still do well.

Mike
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  #56192  
Old Feb 25, 2010 9:28am
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very busy nice week for me

Cad/jpy

4hr beob off BRN of 85. Notice the false breakout of the consolidation that occured after a very strong down move. Price closed below the range too. Targeted next round number and went to bed. This is how to play a continuation bar and notice location is still the #1 factor the bar is my trigger.


Mike
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  #56200  
Old Feb 25, 2010 10:01am
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Originally Posted by smikester View Post
Would that false break out be something you would be looking for to take the trade early in some way? Or do you take the trade off the break of the bearish bar? I think I know the answer to this.
The entry is under the BEOB

Mike
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  #56201  
Old Feb 25, 2010 10:02am
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Originally Posted by Piggleop View Post
So here, you're not worried about the recent action meaning a downswing is temporarily exhausted. It's almost like you're making a flag play here...do you take the recent drop as actually a good reason for going short here? I would assume the price would consolidate here, so I wouldn't make the trade. Is this a misperception?
No, the downswing consolidated at the 85 round number. Price then tipped it hand where it was going again. So you sell a break of the BEOB (bar marked with an arrow)

I am not looking to go short where we are now if that is what you are asking

Best
Mike
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  #56228  
Old Feb 25, 2010 2:32pm
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Originally Posted by ertorque View Post
Hey Mike,
Another question from me regarding your recent CADJPY 4hr trade. Am I right to understand that when you say false breakout, you mean that price begin to rally right after the big big bearish bar and thereafter consolidating for a few more bars (the blue box in the chart)? You term it 'false' because you expect the downward trend to continue later on? Just trying to figure out the terminology here.

If the answers to the above are yes (meaning you expect it to be a false temporary upward rally), then would it be possible to...
Hey Cy

The false breakout is the high of the BEOB I used for my entry. A false breakout of the blue box consolidation. Some people asked me if I would go long based on a few 1hr setups that gave pips but they were not good to me. The 4hr would also be pushing it for me. Again I am more picky then most so it doesn't mean their aren't pips to be made else where. I jsut really like to talk about how I see it based on my methods.

Hope that helps
Mike
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  #56231  
Old Feb 25, 2010 2:50pm
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Originally Posted by antgal23 View Post
Hi Mike

so you knew with this false breakout that the short was on, yep?

were you wating for the false breakout Mike?
Hey Ant

I knew it was a false breakout when the BEOB formed. That is part of what we can glean from a bar like a BEOB. I was simply watching the 85 area. Price consolidated, gave a large beob.

Best
Mike
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  #56233  
Old Feb 25, 2010 3:00pm
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Originally Posted by antgal23 View Post
simply done then, you put the beob in the context of what precedes it, look for a ppz or a fib and bobs your uncle

you guys make it look so simple, maybe it is!

cheers Mike
yes exactly

It really is once you get it all through your head and stop fighting oneself

Like jim says (insert texas accent) "It's dirt simple folks!"

Mike
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  #56245  
Old Feb 25, 2010 3:44pm
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Originally Posted by jarroo View Post
Wow. That's one hell of a breakout trade Dale. Nice. lol

lol yeah

To fix this go to tools - history center- then go in and find the pair and timeframe and when it happened and you can manually change that bar

Mike
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  #56253  
Old Feb 25, 2010 4:48pm
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Originally Posted by jarroo View Post
My spread on the EG is 5 pips.


Jim
DUDE 5 pips! what we need to get you another broker, at least for that pair
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  #56255  
Old Feb 25, 2010 4:52pm
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Quote:
Originally Posted by jarroo View Post
It that high? What is yours?
1-2

Mike
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  #56259  
Old Feb 25, 2010 4:56pm
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Quote:
Originally Posted by jarroo View Post
Oanda right?
Oanda is usually 2 I think it is now. My ecn is anywhere from 0-1(more 1)
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  #56263  
Old Feb 25, 2010 5:19pm
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Quote:
Originally Posted by supremeChaos View Post
which one?
Thanks


...my last visit here was Feb.24.... just finished reading 15-16pages (default FF settings), started reading about 4am.
I am with MB

yeah this thing move FAST now. Gotta check in every few hours :P
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  #56267  
Old Feb 25, 2010 5:26pm
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Quote:
Originally Posted by lmturek11 View Post
my 4h $/cad chart does not match Jaroo's. do I need to change a seeting on myMT4 platform? I have noticed this with Benjis aud/$ also. Thanks in advance
Hey LM

This is simply b/c different broker have different daily closes which will effect daily bars, and 4hr bars. Forex is not a centralized market thus no centralized time. To get the different bars you would need a broker with that close time.

Price is still price though, it is just aggregated different

Best
Mike
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  #56268  
Old Feb 25, 2010 5:28pm
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Originally Posted by michal7 View Post
Hi guys, Mike,

I got a pin bar on EURUSD today. First of all this is not an A+ setup for me and even though I have still 3 free bullets this month, I'm not taking it. However for some reason, I think this will work out and here's why I think so:

+it's a very nice shaped pin
+it's protruding round number 1.3500
+off of the very good PPZ I think
+it's near the fib 61
+ we actually have double bottom although this is much more visible on 4h/1h chart

-bar is too small
-lot and lot of troubles in front of it
-NO SPACE until this first trouble areas...
hey Mikey

yeah this would be an easy pass for me. Just a small bar and the real key would be that the nose hasn't protruded away from that last low so close by. That is an easy pass from my method standpoint. I do love the area we are at to watch for trades though

Mike
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  #56310  
Old Feb 25, 2010 8:46pm
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Originally Posted by perch View Post
So I've been a proponet of DIY (do it yourself) - dig, study, practice, read, etc . . not asking a whole lot o questions. I am currently trying to accept a couple of challenges
1) 3 months consecutive profitables
2) 4 bullets (trades)

Gee whataya know postponed success at both. (rather than saying failed at both) sort of an inside joke - but I like it.

Is there analysis paralysis in this biz? I'll give you my for example - hope I get some feedback.

AUD/JPY 2/25/10 daily chart

First a note on weekly chart - movement has been sideways for...
Hey Perch

Really your analysis is right I just think you might be trying to find too much in a chart and that is where your analysis paralysis is. We just have nothing to do. So when there is nothing to do don't force or try to see what could have might have worked we just move on. So you marked an area, no good price bars, next chart. So yes when it doubt stay out. As for if that big beob was a pin, yes it would be a trade(a quick profit one b/c it is pretty choppy) but it would be supporetd at the 80 mark.

Best
Mike
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  #56326  
Old Feb 25, 2010 10:40pm
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Quote:
Originally Posted by tubguy View Post
I know I seem like I'm new. But I'm just a lurker.
I've been a lifetime member of J16group for about a year.
i respect every post that you present But I don't cross - check anything you do or say,and I would appreciate the same respect.
I will never do anything to disrespect this thread or the J16 group.
Hey Tub

He meant he was gonna check his copy to make sure he didn't have any missing pages, not your posts

Mike
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  #56342  
Old Feb 25, 2010 11:38pm
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Originally Posted by tubguy View Post

Plan on being more active in the future.
Hope so
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  #56347  
Old Feb 26, 2010 12:13am
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Originally Posted by Darkstar View Post
Why is it every time I pop in to say hi, this thread is in a different sub forum?

Anyway, greetings to all.
good question

Hey there bud good too see you
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  #56362  
Old Feb 26, 2010 1:40am
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Originally Posted by stewrigh View Post
J - I thought it was the body of the candle we looked at rather than the wicks for these or do I misunderstand.
It is the wicks

Mike
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  #56365  
Old Feb 26, 2010 1:54am
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Originally Posted by jarroo View Post
Its the wicks or the bodies, as long as the Highs match. We don't see them often match up exactly. Some people, like myself, will give some leeway by a few pips when they don't match exactly. Like this one on the Aud/Jpy Weekly.

edit: Thanks Mike. I haven't seen to many body Highs match very often. lol
Funny you say that but actually there is something interesting. When a candle/bar closes at its very low, or closes at its very high. Meaning the high = the close, or the low = the close. There is a large tendency for price to reverse on those bars. I read it from Larry Williams, and I never really got around to much testing, but it is pretty interesting at the right places

Mike
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  #56368  
Old Feb 26, 2010 2:02am
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Quote:
Originally Posted by Piggleop View Post
So in forex I'm guessing this pattern doesnt appear too often? What I meant earlier by no gaps in forex making engulfing patterns more rare is just that: often in stocks I would play...

I would see an uptrend, a gap up and then a retracement down past the previous candle. Without these gaps, it seems like the formation would be relatively rare in forex?
Outside bars are extremely common in forex, and no gap is need. You simply need price at some point to move higher then the previous bar and move lower then the previous bar and close near the bottom, and vice versa.

Here is a chart with a bunch of outside bars marked
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  #56370  
Old Feb 26, 2010 2:13am
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Originally Posted by Piggleop View Post
Would you consider the second-to-last bar bearish engulfing, Mike? I plan to give this trade a relatively loose stop basedo nthe assumption that the engulfing formation + bounce off resistance and try to ride a decent pip move.


edit: I realize the engulfing pattern isn't at the exact R level, but looking at the level it seemed clear a rise past it had failed.

Attachment 427400
yep that last pattern would be a small BEOB

Mike
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  #56480  
Old Feb 26, 2010 5:02pm
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Quote:
Originally Posted by nasir.khan View Post
And guess what Mike will say about it.
.
Well location wise it would be considered juicy but time of day(late friday notorious for just profit taking) and size would actually have me real worried about it.

Not to rain on the parade :P

Mike
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  #56526  
Old Feb 27, 2010 1:24pm
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Originally Posted by wh1zz0 View Post
Whew

... Sadly, about 120 people have been confirmed dead in Chile as a result of the occurrence of an earthquake. HipsterPispter and all you traders in Chile, I hope you're all safe.. At least do us a favor by responding on the thread.

Thanks.
yes all our thoughts our with Dion very much. And for all our other Chile friends here
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  #56527  
Old Feb 27, 2010 1:30pm
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Hey MT I will answer your questions in bold

quote=mt2;3504666]This is my 1st post. Been working my way through mountain of information. The quality of information is amazing, why would anyone ever want to pay for a forex course?

Welcome to our "little thread"


I have been trading for 3 years without success, but now am back to the drawing board.

Referring to this post and accepting that this is a 1 Hr chart , did form a pin and did close above 135 BRN (did form a Pin on 4 Hr later, so I wonder if any traders took this trade), I have the following questions:

1) There is support, to the left, but you have not mentioned it, is this not a requirement?
Benji didn't mention it b/c it was more implied with price being at the 135 this is part of the reason to take the trade
2) This is a countertrend trade, is this Pin (Which I accept is similar in size to surrounding bars), sufficient to reverse this trend?
Agreed actually, too small for my liking but benji is playing it real tight which I will address in question 3
3) I am aware that you move to BE very quickly, but where would you set 1st take profit, and where would you stop be. So called trading wisdom I have read talk about a mimimum risk reward ratio of 1:3. This does not appear to be applied in this thread, or I may have missed it.
That purple line is where he would move to b/e, as for if he would take full profit or let it run, or take some off. That is up to each individual trader. As for Risk:Reward. Throw it out the window. It is one of the most common misconceptions about trading. In the end the only role R:R plays is from the numbers of your actual method. I take trades that end up going 2R, I take some that going .25R. It is all about understanding the information more then a set R:R(not saying some people don't or it is wrong, just that the general misconception from trading "books" is wrong).

Some general questions:

1) For how many bars, would a PA bar be regarded as valid. I think Pring mentions 5 or 6, is this correct.
Again very much trader dependent. I cancel my order if the next order doesn't break the bar about 98% of the time. This is how I measure momentum. Some will leave it till it either breaks, or invalidates the bar.

2) Would a bar that has Pin bar characteristics, other than close not being within the left eye, which is also not an BEOB/BUOB, be disregarded.
If a "pin" like bar doesn't close within the left bar then it is not a pin. It can be a pin by proxy. Meaning it closes within some other bar close by. I don't like those personally when you get so many great bars as is.
3) As per Benji's comments he doesn't like to combine 2 bars, to create a PA bar. Is this only acceptable for experienced traders or can it be used by newer traders? Will experienced traders ever combine more than 2 bars.
This is just trader preference. I prefer not to combine bars so it keeps me from over trading and just focusing on my A+ setups I am used to. Many people combine bars with great success(see Jarroo). I would say initially stick to not just so you get good at it that way, then add it if you like.

Hope this helps and again welcome
Mike

Regards

Martin[/quote]
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  #56531  
Old Feb 27, 2010 2:50pm
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Originally Posted by ts63 View Post
Hi everyone, please check my chart and tell me where would you see the first trouble area.

Have a nice week end.
Hey TS

These late friday bars are often just profit taking before the weekend especially off such a huge down move. This one hit the first low and bounced. I like to avoid these late day bars pretty much all the time

Best
Mike
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  #56533  
Old Feb 27, 2010 3:03pm
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Originally Posted by ts63 View Post
Thank you Mike

These take profits bars seem very common, look what happened last Friday => http://www.forexfactory.com/showpost...ostcount=55514 and compare with today's GU price.
yep it is very common, people closing up for the weekend so they don't leave themselves open to risk.

But also notice all these bars still go to where as expected Isn't it nice never to be caught by surprise !

Best
Mike
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  #56535  
Old Feb 27, 2010 4:03pm
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Originally Posted by mbqb11 View Post
yes all our thoughts our with Dion very much. And for all our other Chile friends here
I don't think Dion will mind me posting this but we did hear from him


Quote:
Originally Posted by HipsterPipster View Post
Thanks for all your thoughts guys. I and my wife r ok, no cell service but am using wifi at a coffee shop. I just came down out of the Andes and found out that the quake happened. it woke me up during the night. I will post an update about all the rumbles asap.
Chile is used to quakes so most buildings faired well.
I am currently about a 1000 kilometers south of santiago so am stranded due to road damage and bridges falling. Hope to be home in a couple days when I will post more.
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  #56591  
Old Feb 28, 2010 7:17pm
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Originally Posted by scott89 View Post
So guys, what do you think about the audnzd daily pinbar?
Perch told his thoughts, what about the others?
I know i'm pressing you a lot with this, but i started today to demo trade pin bars, so i want to know how to find a++ setups

waiting for answers
many thanks
Hey Scott

We want to look for pins at the appropriate swing levels, especially when starting out. This is a pinbar at a swing high where we would want this at a swing low. Mine also barely closed as a pin. I have marked where price is likely to go, but all in all not a prime location in my book

Hope that helps
Mike
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  #56609  
Old Mar 1, 2010 12:28am
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Originally Posted by jarroo View Post
Hey scott.

Mike's take on this setup...
Hey Jim^2

You are right it is all about location. I always add the caveat these days that ultimatly the bars are triggers and location is everything. So I just try to stress(since I think more beginners in the public thread) the traditional spots. What I do want everyone to know is that I take trades at all areas. Continuations, pullbacks, open space etc. So I thought I would just note that. But I can usually tell when someone is just looking at the bar as opposed to you understanding the location. So I think the ability to play the different scenario pins is like building blocks. These are towards the upper end of your tower. At least that is my experience and thus how I teach.

OK as for your real question(the above was more just for those just finding this stuff). I do not consider this a breakout and pullback of a breakout formation. Could it be considered a breakout and pullback to a PPZ sure. But I personally use that breakout and pullback lingo for breakout patterns(horizontal, wedges, flags etc - which funny enough I just did a 20 min video on from a similar question). To me the distinction is great and thus I like to make the distinction in my own methods. Where as Generally speaking I just call a continuation pin at a PPZ what it is(a play away from a zone). I know none of this really matters, but it is for my actual trading important for me , b/c the dynamics cahnge for trade mgmt greatly. For example a pure continuation pin usually means close trouble areas to that prior high, where as a breakout + pullback of a breakout pattern usually means price has consolidated heavy and if I picekd the right expansion it should get some legs(although it may look just like a continuation pin).

Summary - PA is powerful. The knowledge of PA +SR can be formed in NUMEROUS ways. If you are new to this, start with a few basic concepts and build from there. But always keep it simple.

Man I hope that wasn't confusing as heck

Mike
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  #56613  
Old Mar 1, 2010 2:24am
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Originally Posted by antgal23 View Post
Hi all

I have downloaded the video but it has not sound!

The volume settings are on as I listened to a random song.

Any ideas?

Thanks

Ant
Are you on vista? Can you see video? Are you using windows media player(is it full updated) do you have divx installed? If all else fails someone mentioned an AC3 filter.

I just have a fully updated fresh installed windows XP and windows media player and no problems here

Mike
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  #56615  
Old Mar 1, 2010 2:28am
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Originally Posted by lovejoy80 View Post

Mike - I know in the past you've said that you scale into the trade, but how do you decide where to scale in and how much to risk (i.e. where is your stop in that where do you consider that the gap wont be closed anytime soon).

Thanks
Gaps are very discretionary( I once ran nearly 60 min webinar just talking over them cause it is really open) and I only trade large clear ones and often ones that only show up on Oanda as well(usually it is a few pips there)

here are some posts I made about it



QUOTE=mbqb11;8121]This is a continuation of a question from another thread.


Gap trading can be extremely profitable. It has treated me and many others on this site very well. One trader(rockrat - check out his journal for another way to play them) ONLY(as far as I remember) trades gaps. Like everything else in the trading world, everyone is going to have their own take on it.

But I will give you the run down on how I trade gaps. It really is the most discretionary part of my trading.

Firstly I only trade large gaps. large enough that you can see the gap on the 4hr chart. A lot of times you get these 20 pt gaps around and they usually fill too, but I have a problem with trading them. Liquidity is usually very thin during the opening on sunday which means wide spreads, and slippage. So they aren't worth it to me.

Next what I do is see how large the gap is about. For example the gbp/jpy is around 150 pips. I use this as my starting point. I then take that ~ stop size and get a position size. Usually 2%. I then cut that into quarters and put my first position on right when I am at my computer/broker opens.

So the key to me for gap trading conservatively is to scale into your position. Instead of sticking the whole 2% on right at the open, scale in and feel it out. This way when it tumbles you don't panic. You can simply wait it out. And use fibs/ppzs/PA to begin to try to time entries with each piece of your risk. If it ever comes to the point where I have around 3% almost about to be hit in the negative, I tend to throw on one last position and max out around 4-5%. With that said only once have I ever taking a full loss, and it was I just couldn't take the pain of the trade anymore during a summer gap I believe. Shortly after it filled.

So yes a lot of times you put your first .25% on and it closes and you make very little. But I would always rather be safe then sorry. There are a few other things I do here and there, but really I think that is all I need to explain as far as how I do it. No exact science, and I tend to never wait for a complete fill. Sometimes I build up such a nice position I don't even wait for a fill cause I might end up +4-6% because I scaled in so well.

So overall, wait for larger gaps. Enter your first position. Then scale in y our other positions slowly and spaced out. This way even 300-400 pips on a pair doesn't bother you. Of course the other way is to just try to put all your position at once and draw a line in the sand(s/r or ppz for a stop like anything else). I just think you are going to have much larger drawdowns that way.


Mike[/quote]




QUOTE=mbqb11;44120]Hey Scott


Most of my gaps have a % equity stop. So I will go 3-5% (higher on the bigger gaps that I believe in). Most gaps now that I trade, I scale in even smaller then ever, this keeps fluctuation in equity down. The signals to add can be anything from blind touches, to PA, to a hunch. So as you can see the most discretionary form.

For example I opened a gap position nzd/usd. Added on a 15min . That added position I closed on the invalidation of the 15 min pin(small position about 1/4%. Then I recently added in again based on an hourly pin. Now I am only 23 pips out of the money which is still far off from the actual gap close. Many times I close in profit well before a gap close b/c of my slow scaling in.

Definitely the most discretionary part of my trading. Another cause for concern would be no gap show on Oanda(which is open much earlier then any of the mt4 brokers). But due to size felt relevant to take on its own.

Hope that helps a bit
Mike[/quote]
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  #56617  
Old Mar 1, 2010 2:35am
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Hi Mike

Ive got xp, can see the video and the cusor moving, tried opening it with real player, again all picture no sound

shall i delete the file and download it again?
Have you tried opening with Windows Media Player(a fully updated version). This is what I would suggest(and what most everyone uses as they are WMV files.) If you have done that, I am not too sure you could try the last thing about an AC3 filter

Best
Mike
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  #56619  
Old Mar 1, 2010 2:45am
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Originally Posted by lovejoy80 View Post

Thanks Mike. Is the video in the PF? If so I should have it somewhere ... I'll watch it if it is.
yeah it is the 09-08-08 webinar about 8 mins in

Best
Mike
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  #56621  
Old Mar 1, 2010 2:50am
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Originally Posted by antgal23 View Post
Thanks Mike!
did it work?

Mike
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  #56678  
Old Mar 1, 2010 1:06pm
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Originally Posted by tormo View Post
Mike, isn't it past you bed time in NY already, when do you sleep, lol
lol
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  #56679  
Old Mar 1, 2010 1:09pm
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Hey Scott

Yep you are correct about that it could be. But what happens to people with these bars is they ignore the close trouble areas and then it bounces on them and they take a full bar loss and scratch their heads. The most important thing is to never be caught off guard by the market. Here is thc ahrd I put up before and no surprise look where we are stalling. So the question becomes what are you(as the trader this is a general question) going to do at these points.

Again bars like this can EASILY turn at the first trouble area and never look back. Will some run "with the trend" sure. But Aud/nzd is notoriously choppy too

Hope this helps
Mike

Quote:
Originally Posted by scott89 View Post
Alright, I will start studying GAPS too, but now i'm stuck on PinBars, I wanna learn how to trade them right.
So, on that AUDNZD PB, you Mike said that you expect that kind of PBs on a SwingLow, but couldn't it be just a retracement of the trend? you know, in an up trend you have those little downward moves... I'm new to this, i don't know if you get my point (actually it's the first time i use the english language to communicate with other people, i just used it in school... lol).


To antgal23, you might have solved the video problem, I...
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  #56682  
Old Mar 1, 2010 1:12pm
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Originally Posted by beebolbod View Post
Hi All,

Are there any quick methods to find gaps on all pairs?

Cheers

Rob
Hey Rob

I have all my pairs open on 3 monitors so I just scan em real quick. They are obvious and easy to spot when they are big

Mike
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  #56683  
Old Mar 1, 2010 1:20pm
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Originally Posted by oromek View Post
watching from hindsight, it would be better to trade 2D PB and leave more room for a trade.

I would like to ask about my last losing trade, that was AUDJPY with BEOB at BRN=80, additionally counfluenced with 38 fibo line. I had a sell stop order waiting 10 pips under BEOB, price hit it, went down 4 more pips and reversed.
What things in your opinion should stop me before taking this setup?
regards
Hey O

The reason I would pass on this one is the size of the bar. Jarroo correctly pointed out your trouble area you are trading right into, but for me this is an easy pass. Bar size and engulfing just one prior bar is enough to disqualify a setup. Like Jarroo pointed out with the USD/CAD

here is a trade I am in today as a continuation bar and watching now to close out depending what happens down here


Best
Mike
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  #56723  
Old Mar 1, 2010 7:58pm
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Originally Posted by shauns1966 View Post
Thanks Jim that's really reassuring....
awesome post man, and of course I loved the poker reference!

Mike
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  #56734  
Old Mar 1, 2010 11:21pm
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Originally Posted by Cherry View Post
Hello again,

I thought I had overcome the problem of picture dissappearing from the J16 videos by up dating Windows Player...

Now today it won't play more than 30 seconds and vanishes again. Have just tried 3 of the vids I have downloaded and same thing with all.

I tried VLC once more but as before with it... no sound!

Help!!! Whatever is wrong? Running on Win XP 2002.

Any further ideas what I could try guys?

Thanks,

Cherry
Hey Cherry

I have no clue I hope others might. Try this though

http://www.gomlab.com/eng/GMP_Introduction.html

and also try

http://ac3filter.net/

After that I think I am out of ideas

Mike
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  #56739  
Old Mar 2, 2010 1:10am
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Originally Posted by Jcp View Post
Just wondering if anyone else here has had issues with the videos in the guest section? I am able to view video, but no audio. Now I am on a mac running Vista, so this may be the root, but I have downloaded several video conversion software utilities with no luck.

Thanks,

Jacob
Hey Jacob

In the PF we had some Mac users trouble shooting this seemed to work for most so hopefully it does for you


Originally Posted by dannstockton
Here's what I found to work for me (I'm on a mac right now running leopard)


1. Download MPlayer here:

http://code.google.com/p/mplayerosxe...nded_rev11.dmg

2. Install Mplayer essential codec package.

http://www.mplayerhq.hu/design7/dload.html


For whatever reason, I was unable to get anything else to work (VLC, WMP for Mac, etc.), but so far it looks like it works great. I think it should work for Snow Leopard as well.

Also, a workaround is to use parallels and WMP.


Windows Media Player for mac is different than Mplayer.
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  #56749  
Old Mar 2, 2010 3:40am
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Originally Posted by oromek View Post
hi ertorque
i'n my opinion there is absolutly no reason to start doubting on PA. Take into account that properly managed every of your setups should finish at BE in the worst case, and PA2 and PA3 should earn some pips. My full bar loss was casued by opening position exactly on SR (caused by short experience). From hindsight i should do:
1. leave this setup as it's definitely not A+ setup, and very close to first trouble area
2. open a position exactly at BEOB break, and move SL to BE at place where i opened my trade

This is the effect when someone...
The stand out trade there has 2 of the most important "secrets" in my trading. Size and BRN. The others are easily passable in my books. All still went to where you would expect them to stall. It is understanble to doubt something when not fully understanding it. But you have to persevere through that to get to the point you do. No one can get you fully there but yourself.

Just a mini rant I am catching my breath from tonight LOL
Mike
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  #56751  
Old Mar 2, 2010 4:08am
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Originally Posted by daveoz001 View Post
Hey guys,
Can someone tell me if there is a post anywhere, or maybe create one that has a list of the abbreviations commonly used on the thread?

I have figured out most, but Mike just threw out another that has me scratching my head......BRN......or maybe it's not supposed to be figured out as it's one of his "secrets".

C'mon Mike share the secret......Buy Right Now......Big Red Nuts.....Boys Rule the Nest.....

See what I'm going through.......and I know what you're thinking........Bloody Rude Newcomer!!!!!!!!!!!!

All jokes aside...

hahah even though it is 4am and I am in desperate need for sleep you just made me laugh out loud

BRN = Big Round number. It is soemthing I have sort of termed in my own way of the round numbers every 500 pips. instead of regular round numbers.

As for the rest of the abbreviations here is off the top of my head.

PPZ = price pivot zone
BEOB = bearish outside bar
BUOB = bullish outisde bar
pin = pinbar
DBLHC = double low higher close
DBHLC = double high lower close
TBH = two bar high
TBL = two bar low
IB = inside bar
I4b = inside 4 bar
S/R = support/resistance
PA = price action
RN = round number
BRN = big round number
MA = moving average
TL = trendline
BO = breakout
BO + PB = breakout + pullback
RET = retracement
DIV = divergence
CT = countertrend
SL = stop loss
TP = take profit
BE = break even
FTB = First time back
I will add to this if I think of anything in the next 5 mins

Mike

Last edited by mbqb11, Mar 2, 2010 12:34pm
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  #56812  
Old Mar 2, 2010 12:33pm
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Originally Posted by nasir.khan View Post
You are done with sleep.
.
He was online 20 mins ago.
yeah I didn't sleep much last night, I am going to be fried later today
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  #56813  
Old Mar 2, 2010 12:35pm
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Originally Posted by Ryanmcd View Post
Get off that Meth Mike! lol, wtf why don't you ever sleep?
lol I am going to the gym hardcore then just passing out in a few hours -
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  #56814  
Old Mar 2, 2010 12:38pm
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part of the reason not much sleep was monitoring this

Have just fully closed out


Mike
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  #56816  
Old Mar 2, 2010 12:43pm
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Originally Posted by diggsnoob View Post
hahah I knew someone was going to post that. But when you are a born insomniac that stuff goes out the window LOL

Thanks tho diggs, guess life is a breeze when your up 2million pips on the gbp/usd
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  #56819  
Old Mar 2, 2010 12:48pm
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Originally Posted by ehrek View Post
Where did you exactly short it at Mike? ( i got in around 0585)
the beob marked on my chart

Best
Mike
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  #56824  
Old Mar 2, 2010 1:26pm
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Originally Posted by Ryanmcd View Post
Don't want to be a hero never posted how much I have because it does not matter. I think someone else started something on how I trade Jackoo or something I think it's about 200 pages. Was just throwing stuff out to other helping with emotion / trend stuff. Also I have posted a lot of charts and my trades real-time if you go back but don't worry about it, reading my stuff is a waste of time.


http://www.forexfactory.com/showpost...ostcount=31232
ryan you don't need to prove yourself around these parts brotha

Back to trading folks! I need some sleep!

Mike
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  #56825  
Old Mar 2, 2010 1:33pm
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Originally Posted by jarroo View Post
Hey Mike, that Daily Aud/Nzd continuation PB is turning out nicely. Maybe we'll hit some long term highs. Or, of course maybe that juicy BRN, 1.3000.
explosive! did you hold!

Nice job

Mike
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  #56827  
Old Mar 2, 2010 1:40pm
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Originally Posted by Max Profit View Post
Interesting link Ryan, but what have really got in common to James16?...
Hey Max

I know what your intentions are, and a lot of people just get put off cause Ryan just tells it like it is. I have spoke to him on the phone and known him for a long time. He actually does a lot similar to James, price action, but in his own way as well. He just does what works for him. We all have to find our own way to a certain extent. He is a good guy trust me on that

Let's get back to trading fellas! We are all here to learn the process never really stops


Mike
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  #56851  
Old Mar 2, 2010 3:30pm
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Originally Posted by trendist View Post
Hello,

I am considering subscription to the PF. I am trying hard to find any reasonable info about what can I expect to find inside. Bad luck. I have not found any real information about the content.

Can anyone help me before I spend my bucks? I would like to see something like .. there is 5 trading systems described in about 20 PDF files, 10 videos and a forum ...

Thank you in advance!
Here is my honest answer and what I tell most people
I hate talking bout the private forum in public. I don't ever want people think we are soliciting b/c we just aren't that type of group

To answer your question someone asked me the same thing and I wrote


My first recommendation is to just hang around the public forum. You will be able to learn a ton there and in fact I tell people to spend 3-4 months there before deciding to join us anyway. See if what we do is for you, there is enough information on the public area here alone to make someone profitable hands down. B/W our guest section and this many will attest to that. To get an idea of what we do check out the tour member area videos(those are outdated now but gives a general idea) on our site, and our free videos. There is just basically a ton more of that. To give you an idea I have about 60+ videos not including my videos that I interlace into the forum. I have my section for beginners, my section for my material etc. It is far from anything like here is a 20 page pdf on a "system". This is why I highly recommend hanging out here cause that just isn't what we are about. I mean my intraday thread alone is 2800+ posts lol. And this is just my part of the forum(we have all James, senior members, MM, psych, all with their own text videos). Again, you asked I answered but if you have more questions just shoot me a PM. I might delete this after you see it also cause I don't want to come off wrong.


Hope that helps a bit
Mike
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  #56853  
Old Mar 2, 2010 3:41pm
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Originally Posted by Max Profit View Post
Mike, don't worry, this is the commercial section, sell away! While you're here, is there any 5 min stuff over there? I know all about pinbars, supp/res etc, just wondered if anyone over there trades the 5 min and does well? I average 5% per week, looking to increase it with a less riskier approach. Just because I make money, doesn't mean I'm blinkered enough to to think I couldn't spot something that I could add to make me more %.
maybe it is, but I hate that aspect of what it groups us in.

Quite a few of our seniors trade a variety of low timeframes. Like rusyjeff and Dion. Really PASR can be applied across the board. Heck 5% a week, blowing me out the water well done at that rate 10k turns to 120k plus in 1 year and the next year 1.4mil plus. When you say risky I am assuming beyond risky.

Mike
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  #56867  
Old Mar 2, 2010 4:40pm
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Originally Posted by jarroo View Post
Congratulations, 007. A future trader in the making. He/she is going to have a great head start.
double congrats man I missed this one!
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  #56871  
Old Mar 2, 2010 4:45pm
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Originally Posted by jarroo View Post
lol

Re-post:
LOL

I'm on NO SLEEP! No SLEEP! (seinfeld anyone)
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  #56928  
Old Mar 3, 2010 3:38am
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Originally Posted by s005606 View Post
Thanks so much for the info!

I don't know if I am the only one, but I am ashamed to tell that one of my problems with trading (besides being a newbie with lack of knowledge) is that, I sleep too much.....I sleep like 8 or 10 and sometimes even 12 hrs a day, man I know it's a luxurious amount and most of the time I wake up just to find I missed this trade and that trade.

Wish I could sleep less......
pour salt in my open wound

when I do crash, I can sleep with the best of them!
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  #56930  
Old Mar 3, 2010 3:53am
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Originally Posted by bundyraider View Post
There was a ten y/o girl or something in one of the papers or mums magazines or something the other day. She can have bouts of sleep that last ten days straight or more. They can't wake her. Something caused by a virus early on in her life or something. That'd suck.
She slept through an entire family holiday once. ....Poor thing.
yes I caught this on the internet the other week as well. Very crazy and sad
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