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  #63108  
Old May 7, 2010 6:04am
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Quote:
Originally Posted by Bryan View Post
Thanks for sharing Ghous!

Any particular timeframes? 4hr only?
Any particular pairs?
Hey Bryan,

I have been doing it on 4H only across 12 of the commonly traded pairs

g.
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IPBs are advanced PA setups and my sincere request to all newbies is to stay away from them until you know the basics like the back of your hand - TRADE SAFELY AND WISELY!

Last edited by ghous, May 7, 2010 6:16am
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  #63109  
Old May 7, 2010 6:09am
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Originally Posted by scott087 View Post
The USD/JPY Daily and Wheat weekly trades worked out very nicely.

I believe the XOM Daily IPB failed lol. I guess my stop was a little too tight...maybe next time I'll have to use a wider stop
lol

seriously though, I tend to doubt my IPB entries when trading equities and futures, I am not into them but for those who trade equities I don't think entry on the close of the IPB is the best way to be going about trading IPBs...maybe an entry on the open of the very next bar (if it stays within our strike range) might be a better idea...

Dan might want to assist me with this, what I see on XOM is that the bar after the IPB opened below the low of the IPB which means your trade would have been stopped out right where the market opened.

My rules for trading the IPB are strictly meant for forex markets, because that's what I trade...thus far.

Because our IPB trades don't use a "buffer" some bending of the rules might be necessary.

g.
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IPBs are advanced PA setups and my sincere request to all newbies is to stay away from them until you know the basics like the back of your hand - TRADE SAFELY AND WISELY!

Last edited by ghous, May 7, 2010 6:19am
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  #63110  
Old May 7, 2010 6:15am
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Quote:
Originally Posted by jspeakman View Post
Hi Ghous

Playing catch up again -

Are the middle lines of BBs effectively moving averages i.e 20,2 BB - middle line is the same as 20 moving average?

An experienced trader friend of mine who introduced me to FX trading about a year ago swears by the 50 EMA - calls it the mother of all MAs and also likes the 21 MA (similar to middle line of BB)....
Hey J,

I am not too sure which of the BB lines overlap an EMA. I am not into their dynamics.

The idea is very simple...using BB lines and the 50 ema as confluence to take PA trades with the trend.



g.
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  #63113  
Old May 7, 2010 6:27am
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Quote:
Originally Posted by supremeChaos View Post
jspeakman, ghous,
the middle line of a Bollinger Bands 20,2 setting is a 20SMA.
(if the setting is 50,2, then the mid-BB is a 50SMA... & so on..)
yeah I could have just referred you to our little...no big, inquisitive, energetic, SC J,

but never mind he's been trained to chime in whenever he can,

James has made sure he has enough people on the thread to be taking care of every question.

Thanks DSC (Dictorian supreme chaos) - "dictorian"? Wow! Now that's invention

g.
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  #63116  
Old May 7, 2010 6:28am
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Originally Posted by jspeakman View Post
Hi Ghous

I think (?) if you put in the default BB (20,2) and then a MA set at 20 in a different colour, the MA overlaps the middle line of the BB exactly. Try it, although not sure if it means anything necessarily!

Thanks

J
yeah I get the point.

g.
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  #63119  
Old May 7, 2010 6:33am
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Originally Posted by nasir.khan View Post
Struggling with color schemes like me huhh.
.
Not really, I've settled down with smoke white for background and green and black candles.

I need such a layout for the trading system I am testing,

g.
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  #63120  
Old May 7, 2010 6:34am
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Quote:
Originally Posted by supremeChaos View Post
that sounds like 'dictator'
nevertheless, thanks, Sir.

i'm chiming in now 'to compensate for' missing the extension of the BIG moves last night (sleep time in Asia)

just woke up......... kidding
Wanted an adjective extracted from the word "dictionary"...
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  #63122  
Old May 7, 2010 6:37am
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Originally Posted by jspeakman View Post
Sorry Ghous - didn't mean to be labouring the point - I think crossing replies might have given that impression - apologies.

Interesting approach though - do you think it would work across other time frames?

Thanks

J
No apologies needed.

Frankly, do I appear agitated in my posts or what? lol

I did use the template on other tfs but found it to be best suited for the 4H, again I am in no position to pass this on as a rule in stone...remember I am still testing this system out. The post where I talked about the system was just meant to poke some curious minds.

g.
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  #63127  
Old May 7, 2010 6:43am
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Quote:
Originally Posted by supremeChaos View Post
ah yes, it works on all TFs.


jspeakman, check out jankone's thread, if u havent yet.
(NOTE: jankone's method is directed to M5 trading, but it can be used on any TF; if anyone is interested in trading that in M5, i highly suggest 'mastering' J16 first before venturing into that thread/lower TF trading)
yeah we know Ryan and Jankone do one hell of a Job with BB on the 5min, so again feel free to experiment with anything you like,

For my style I have found the 4H to be the best...not to say it's the only tf it should work on.

g.
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  #63129  
Old May 7, 2010 6:44am
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Quote:
Originally Posted by supremeChaos View Post
how about 'dict SC', 'dictsc', 'dictS'..
oops that doesnt sound good.
sure doesn't ...

What's wrong with it sounding like dictator, Hitler wasn't that bad a man, or was he?

g.
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  #63133  
Old May 7, 2010 7:08am
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Quote:
Originally Posted by nasir.khan View Post
yes i do, Sc i do. lol
,
Ok then you make sure you do not let it be known at a public thread, because seriously I know of just one unique set of chart colors that you dress your charts up with.
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  #63172  
Old May 7, 2010 12:11pm
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Quote:
Originally Posted by Danku View Post
Hey ghous....mind sharing your 12 pairs.....cheers
13 pairs in all

Eu
Gu
Usdchf
Usdcad
Au
UsdSgd
EurJpy
GpyJpy
ChfJpy
AudJpy
EurGbp
GbpChf
Eur/Cad

g.
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IPBs are advanced PA setups and my sincere request to all newbies is to stay away from them until you know the basics like the back of your hand - TRADE SAFELY AND WISELY!

Last edited by ghous, May 7, 2010 12:26pm
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  #63352  
Old May 11, 2010 4:53am
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Quote:
Originally Posted by ertorque View Post
Another fail IPB. In my opinion has all the ingredients of a good IPB but did not end up in the desired direction.
Could we attribute this to ' its a probability thing and even good setups can fail' reasoning?



CY
How much time have you spent looking for A+ setups on the daily and weekly Ertorque?

How much time have you spent trying to be super super conservative?

How much time have you spent trying to be an mbqb11?

I have repeatedly mentioned in my posts that the "IPB" is an advanced concept. It ain't any license for more free money. If you don't get that straight you're in for a horrible awakening...

An IPB just like any other PA bar is only an "excuse" to enter the market, what's important...a lot more important is the big picture.

We've heard it over and over such that it's almost become a cliche here at the thread that "location is important", ever wondered exactly why is that so?

The approach needs to divert from desperate eye balls stalking the charts day in and day out looking for a PA bar to a more sensible one where you try and get behind the bars in the background and look at the bigger picture - that which is marked by the swings in the market and the general order flow.


------******------

The bar you pointed out was like a man standing dead in the middle of a railway line with an outstretched hand facing a train headed straight for this man. Now if you aren't a Hancock (which you most probably aren't) what chance do you have of stopping this huge mass of metal and steel momentum coming your way?

Don't believe me? Pick any pair any time frame you want and look for those big bars that leave a HUGE and I mean HUGE wick at one end (may or may not be pin bars). Note how many of these bars trigger moves in the market that change the trend.

You'll easily reply with a "None" to the question of blocking a full speed train coming your way with just your hands yet you'll eagerly go for the bar which looks like an IPB only much much smaller than an ideal one and hope your butt off that your 30 pip stop won't be taken out?

Clearly you just touch traded the 1.5, the markets don't care whether you know this or not, but you should.

Like most seniors here have suggested, mastery of the core J16 basics is essential before you start wandering off looking for more ways to make money. I have been trading IPBs successfully for the past six months now, not that I haven't had a loss but that I have worked hard to divulge their dynamics in a way that would benefit me in my trading pursuit.

---***---

I have had a couple of private messages from ppl who've recently joined the J16 family, they wanted to know more abt the IPB, but were sensible enough to understand that being an advanced concept it wasn't meant for them - yet. I was flat out amazed with the sincerity with which they are approaching this business.

For most of you new heads out there, you've got to master the basics first!

g.
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  #63353  
Old May 11, 2010 4:57am
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Quote:
Originally Posted by Steve0001 View Post
I have become a doubter as to whether IPBs should be trusted to indicate the likelihood of the opposite price action of regular PBs. Nearly every IPB I have seen recently has failed to deliver. But maybe most of those have been flawed in some way (bad location, etc.). One idea as to why some of them might work (just something I am pondering) is that sometimes the data can be re-aggregated to show a different PB in the opposite direction (and maybe those could be more trustworthy?). I still watch them with interest whenever I see them and I still...
no data can be correctly re-aggregated to make a bearish pin bar look like a bullish one.

The IPB isn't an "aggregation illusion" but when large enough and at good locations is a clear sign of change in market sentiment.

g.
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  #63354  
Old May 11, 2010 5:02am
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Quote:
Originally Posted by joelcf View Post
I think you need to have a look at what that bar is telling you before mashing the short button.

(ignore the crap on my chart)
Attachment 472400

You have a strong uptrend, which means you are going to want a pretty damn good bar to setup a fade here.

And then, at the top, we have a small pause bar (open and close are almost the same, so there was no net movement) and it closed near the TOP of its range. Which means, while it had bearish strength at some point, it closed with bullish pressure.

Nothing about that really...
Great post Joel, I knew I could count on guys like you.

Apologies for lack of attention to the thread guys, this month continues to suck my blood,

g.
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  #63355  
Old May 11, 2010 5:06am
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Quote:
Originally Posted by cprao View Post
based on Ghous definition an IPB is -
[/color][/font][/color]

1) EURUSD has a bullish pin bar (not very exactly since the head is not closed with in the body of the previous candle)

2. At swing low

3. However the pair is not in uptrend.. neither it is a pullback for the uptrend.

[color=darkgreen][font=Verdana][color=#000000]BUT.. if...
You got me lost Cprao,

Are you referring to the 48 hour bullish pin bar or one that looks like a bearish Pin bar??
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  #63356  
Old May 11, 2010 5:12am
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Quote:
Originally Posted by joelcf View Post
'ipb' is the new 'touch trading'
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  #63357  
Old May 11, 2010 5:15am
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Quote:
Originally Posted by triger88990 View Post
LOL

rac is already history ,the time for ghous has arisen.
Unless I die I am going nowhere.

You might see me disappear for a while here and there, but I can't leave my family for any reason

Rac'll be back too I am sure...

g.
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  #63359  
Old May 11, 2010 5:20am
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Originally Posted by cprao View Post
Thank you. I read this post.. Probably I need to read it again and again..

I plan not to run before I know how to crawl.. but I kind of exicted when I saw this setup and the recent posts were about IPB..

Anyways.. all these are part of learning.. Thank you for your insight, though..
Don't let this crowd out your learning process Cprao,

contact me via pm with any specific questions and we'll personally handle your concerns.

g.
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IPBs are advanced PA setups and my sincere request to all newbies is to stay away from them until you know the basics like the back of your hand - TRADE SAFELY AND WISELY!
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  #63360  
Old May 11, 2010 5:23am
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Quote:
Originally Posted by joelcf View Post
I'm Australian - it is about all we take an interest in After England did you a favour, we could have a bit of an intraforum grudge match coming up...

-----------
Aussie should behave interestingly tonight. Dont think the market really trusts labor that much at the moment to not try and dig us deeper into debt, so a modest budget could see a nice move. Or, if money gets thrown around like every other time... look out below.

Now, how about them pinbars?
I guess we're up against you guys in the semis eh? Watch out, we just got our spark Back Joel

g.
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  #63362  
Old May 11, 2010 5:28am
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Originally Posted by nasir.khan View Post
When i heard KP was not in the game i thought ok they are kicking us out.lol,..but indeed they did played well.

Well i am not sure but if we could get your openers out cheap, we may have a little chance.

Don't you think Aussies have hit the top to early in the tournament what about a "Reversion To Mean".
.
Nasir we'll need to find a way to tackle Nannes and Tait as well. Their (Australia's) batting isn't the only concern.
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  #63365  
Old May 11, 2010 5:52am
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Quote:
Originally Posted by nasir.khan View Post
lets hope and pray.

Nannes was better off with Netherlands.
.
hahaha!
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  #63433  
Old May 11, 2010 1:34pm
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Originally Posted by ertorque View Post
Hey Ghous,

Your post is telling me that this IPB in subject (hereinafter known as "the said IPB") is too small compared with, in your own words the huge oncoming fast train. Yes I am aware of how important PA bar size is together with other confluence factors. But my learning materials on IPB are solely those coming from you Ghous. So those are what I used as yardsticks when making a decision. Believe me your example charts stick to my head like bees to honey
Let just start with looking at the size of the said IPB compared with your examples...
Your said IPB was wayyy smaller than it should have been.

The examples I illustrated in the "intro to IPB" post were not taken blindly of just fib rets. Once again you're just looking at the IPB itself rather than the location and other supporting confluences.

What I really mean is that for me, price action before the IPB is of a lot more significance than the price action around the IPB. Like I mentioned before I am honestly anticipating a trend change on the Gu here by virtue of that looonnnggg wick to the downside that occurred during news volatility, and with such a mindset I would rather get shot than take that tiny IPB.

The IPB itself was perhaps only as big as the bar before it, but compared to some other BUOBs and BUBs that constitute the recent up thrust it was certainly not an A+ take.

Again if you've found a way to trade "so-so" IPBs with acceptable win rate as per your requirements that's perfectly fine in which case you should be ok with a loss as Dan mentioned. I on the other hand have given my fair opinion regarding the setup as I was asked for it.

One other thing I have repeatedly mentioned regarding IPBs is that I tend to be very cautious with them, and take them only when they appear A+ in nature, and for what it's worth I may not even have to draw a ppz, or fib ret, or a pivot zone on my chart to verify the location.

In my book the judgment of a PA bar get's done entirely off of earlier price action. Wicks play a huge role for me as do trends and ranges. A fib ret lining up is always welcome but I admit many charts I post up here are diff to how I see them first hand on my mt4. They have to be "dressed" to make sense for the majority here.

g.
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  #63906  
Old May 16, 2010 5:06am
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Quote:
Originally Posted by jarroo View Post
Many brokers will have different closing time due to the GMT times they use. All this shows is Price being chopped up differently. What they do have in common is where Price act as Support and/or Resistance. A very important factor when trading the James16 methology.

Ghous was showing an approach he is working on utilising some of the PA formations with other key locational requirements.

Using a different broker will give signals where others will not and vise versa. They do tend to equal out in the long run.

I think I came close to answering...
Just to add to what the other guys have mentioned...

Gu presented a wonderful opportunity (in the light of the system) this Thursday,

Fxpro gave off an adorable BEOB off the 21 ema (or the middle line of the BB) with the trend while IBFX gave off a PIN BAR off the same location.

As jarroo mentioned different open/close times for bars among diff brokers only ends up chopping price a bit differently that's all. This means that at times you'll get situations like the one shown below in my charts (pa setups on both brokers) and at other times you'll get a price action trigger on one broker which isn't there on some other broker...point is this other broker will then later on give a PA setup which may not be present on the first broker....it all balances out in the end.

What no correct chopping of price can do is "efface the key locations and S/R levels"...for us J16ers location is always the real deal hence we care less what diff brokers are showing at any given time.

g.
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IPBs are advanced PA setups and my sincere request to all newbies is to stay away from them until you know the basics like the back of your hand - TRADE SAFELY AND WISELY!
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  #63964  
Old May 17, 2010 11:19am
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Originally Posted by Pinbar View Post
ghous

I noticed your post looking for a fibo indicator that will draw the levels on the chart.

I can't find that thread again or would post it there but, I found this indicator and thought maybe it was sort of what you are looking for or can modify it.
This one maybe?

http://www.forexfactory.com/showpost.php?p=2108676&postcount=11 668


I was looking for floor trader pivots at the time I guess...

Thnx for the concern anyways.



g.
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  #63967  
Old May 17, 2010 11:27am
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Originally Posted by Pinbar View Post
No, not a pivot.
Fibo Tool indicator.
Was that not you?


EDIT: Sorry Ghous, it was not you. LoL
t was
LasVahGoose
Member
lol

no worries.
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  #64199  
Old May 19, 2010 3:06am
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Originally Posted by Daneel View Post

The strange thing is, I seem to be doing much better on shorter time frames, making money on H1 and M15, whereas H4 and Daily are killing me.
This illusion alone will drag you into a still deeper hole. As far as you're after price action, higher time frames will always rule...but then again your approach here seems to be the culprit.

You're not talking about consistency, or number of wins over losses, or the time since you haven't had a loss or a win...you're talking about money and it's making.

At this stage, all that should matter to you is consistency which is best obtained on the higher time frames via sniping largely obvious A+ setups...sure that would mean less money than clicking buy and sell 5 times a day on the 15min but what you gain by mastering higher time frames first is a reward which cannot be weighed against any sum of money.

Learn to absolutely hate loosing and you'll find yourself doing a big favor by staying off 20 pip pin bars until you know PA like the back of your hand.

g.
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  #64201  
Old May 19, 2010 3:24am
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Originally Posted by extraneo View Post
Hello Ghous
According to your experience you can wait ret @ 114 of the outside bar, and if there is PA on 4h tf, go short?
and there is a risk of a reversal in that area?
Regards
According to my experience (which isn't a shit load) and trading style, this isn't a setup worth trading.

I never really fell in love with continuation PA bars as in ones that lie dead in the middle of a trend. For them to fall into my radar they almost certainly have to be at some sort of pull back to the trend.

Looking at the weekly a fear of reversal in my opinion isn't illegitimate. Another thing I am looking at is how buyers rushed in at the 111 and caught the falling knife, price has since somewhat regained it's downward persistence but given that it's headed once again for the strong reaction area of 111 I'd be extremely cautious on moving my bear pawns against this move I see...

A short for me is on once we have seen through 111 comfortably i.e a short of a daily bar. I keep my time frames separate and if good PA shows up on a lower time frame before the break of 111 I might go for it and manage it accordingly.

g.
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  #64206  
Old May 19, 2010 3:56am
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Quote:
Originally Posted by Daneel View Post
Thanks ghous....
It sounds like a hoax but is very very true that:

"going slow and steady is the quickest way to make it in this business"

It does appear at first that trying out diff systems simultaneously should shorten your learning process but that isn't so...the reason being that successful forex trading is more a matter of mental stability than getting hands at a holy grail.

Doncha worry about loosing real money, consider it part of the fees of your learning, get back to demo and maintain your focus on winning consistently, needless to mention we're always here if you need anything.



g.
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Old May 19, 2010 12:32pm
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Quote:
Originally Posted by six gun View Post
I doubt it is a "believe in yourself" situation - more like screw ups apparently due to decisions made on the lower time frames.

A belief that these screws ups will not happen if you don't use these lower time frames.

Well they will still happen - success is about self control and you don't get that by simply blocking time frames, which I doubt is possible anyway.
I ask, is there a better way to learn self control than wait patiently for higher time frame setups that a child would spot?

Not all A+ pin bars work 100% of the times on the higher time frames either, but such offsets are rare, at least as compared to those on lower time frames, combine this with inexperience and a greed for setups and hence money and your well on your way to a busted FX trading account.

g.
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