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  #61502  
Old Apr 21, 2010 11:05pm
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Quote:
Originally Posted by ertorque View Post
I have a question on New York trading hrs.

I know that the trading hrs there is 8am to 5pm EST
I understand that when it is NOT Daylight Saving, NY is in EST zone.
Currently, it is Daylight Saving Time and therefore is in EDT zone basically moving it 1hr forward compared with when it is not Daylight Saving.

My question is will the trading hrs still 8am to 5pm New York local time now? Or will it be from 9am to 6pm local NY time?

Kinda confused with this time zone shifting.
Appreciate some feedback.
Thanks
CY
Hey Cy

if you go to the main FF page on the left you can click the name of the session and see the active trading hrs. It is 8am right now.

Best
Mike
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  #61504  
Old Apr 22, 2010 12:43am
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Originally Posted by ertorque View Post
Thanks Mike. Still a little bit confused.
Okay, if NY starts at 8am and ends at 5pm NY time, it means Sydney being the next in line (and seamless) would start at 5pm NY local time. 5pm NY would be 7am Sydney local (since it is 14hrs from NY).
Starting a local market at 7am seems strange (usually it is 8am local) to me or am I mistaken here?

CY
This is how I understand it

New York opens at 8:00 am to 5:00 pm ESTTokyo opens at 7:00 pm to 4:00 am EST
Sydney opens at 5:00 pm to 2:00 am EST
London opens at 3:00 am to 12:00 noon EST



Best
Mike
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  #61577  
Old Apr 22, 2010 1:45pm
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Originally Posted by spookie94 View Post
I think I'm starting to get a hang of the J16 concept, but could someone...
gets a big thumbs up from me
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  #61580  
Old Apr 22, 2010 2:13pm
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Originally Posted by WizardPip View Post
Lets see if i finally get this,

What u guys think of this 4hr eur-usd pin bar?, well, open is in the range of previous bar, but close isnt. In the good side, location looks good, we have divergence on RSI, and i think we have what Mike say is space.

Any feedback would be appreciated

Regards

Hector

PD: Demo trade is what u look on the chart, hasnt been triggered
Hey Hector

This would be a nice location if the pin was stronger but remember the pinbar must close within the prior bar to be considered a pinbar j16 style

Best
Mike
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  #61583  
Old Apr 22, 2010 2:53pm
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Originally Posted by WizardPip View Post
Thxs Mike, and in your experience this bars doesnt work out well?
Well any and all bars have a chance to work, the idea is to give yourself the best chance. If a bar can't even close within a prior bar it is showing one form of weakness. So after such a strong move down the question is "is this real buying" I determine if I(keyword I) think it is based on size and formation of the bar(and of course location most importantly). So if I see a small bar like this at the end of a huge run, it may lead to a retracement, but I am thinking more it is profit taking and weak buying as if the bulls were really in control wouldn't it have the strength to close much better. This ones are of no interest to me personally.

Hope that makes sense
Mike
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  #61592  
Old Apr 22, 2010 5:14pm
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Originally Posted by Wakanapi View Post
Hi Mike, I've never been posting in this thread before but i have followed it for almost two years now and trade price action on the daily with pretty good results! Even if I trade these kind of PA setups i still feel like I'm missing something in my approach of trading.
I just wonder where you developed the kind of thinking where you are able to make conclusions of what the bulls and bears are doing on the market just by looking at a candle.

Did you learn the "kind of thinking" from a book and then applied it in your analysis of the markets?...
Hey Waknapi

Glad to see you post

Just chart time and seeing things over and over. You just start to get a feel (for your own methods) and expand on that. Trial and error etc. The only book I ever recommend from a technical standpoint is Pring on Price patterns. It is very simplistic in nature and the reason I like it. I have never read many technical books I thought were really worth much to be honest.

Hope to see you posting more

Mike
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  #61595  
Old Apr 22, 2010 9:38pm
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Originally Posted by Dan Gilbert View Post
anyone trade futures?

This looks like a good multi-bar-high breakout opportunity!
that sure does for a quick breakout play
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  #61597  
Old Apr 22, 2010 9:56pm
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Originally Posted by Dan Gilbert View Post
first target: 11200?
seems reasonable, but being friday I would be more apt for a real quick take profit or just see how hard it breaks and trail out on a lower timeframe. Thats how I play multi bar breaks at least

Mike
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  #61602  
Old Apr 22, 2010 10:48pm
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Originally Posted by cpnhowdy View Post
Hi Dan,
Just wondering why you and Mike would think this might break to the upside
as opposed to down. If we ignore that it is the dow and if we had some bearish divergence on macd for example could we expect heavy resistance at those highs and expect a downward move? Example the EURUSD had similiar bar highs at the end of November.
Thanks for the help and insight.
when you have multiple bar highs like that, when price breaks above it, there tends to be some kind of breakout(could be short lived) this is due to the piling of orders above a point like this. People who think its "solid" resistance place their stop above their, + buy stops etc and you get a "push"

Hope that helps
Mike
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  #61678  
Old Apr 23, 2010 12:09pm
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Originally Posted by fxeturn View Post
Thanks!

Okay, I have a question on this, is this a valid setup? A BUOB on a sweetspot and TL, but 23.6 fib is just right above...

Attachment 463497
Hey FX

IF it closes as it it would be a valid BUOB by itself, but the problem is it is not at a swing low(where we want to see them). So if we play it as a continuation you are essentially buying right into that prior high and the 95 mark. Not necessarily long if you believe in the strength of your location(this is what it always comes down to), but we can't ignore that area it is trading into in some sort of manner.

Best
Mike
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  #61680  
Old Apr 23, 2010 12:16pm
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does it honestly get any better then this? Just wish my brokers offered this pair
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  #61681  
Old Apr 23, 2010 12:21pm
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Originally Posted by fxeturn View Post
BUOB on fib,triple zero and 2 emas...
Attachment 463639

PB on weekly R2 with 2 tests (1 test is out of screen, a bit historical)
Attachment 463634

PB on monthly S1, TL and psych.
Attachment 463635

PB on multiple retests, psych, monthly S1 and 365 ema.
Attachment 463636
I got the 76.4 Fibo number from this website.

Reviews are very much appreciated.
Hey FX

Just my views below

Cad/jpy I like much better then the usd/jpy you posted(see above review) because at lesat this time you are trading a breakout into no prior high so you are essentially "breaking" out. But again this is acontinatuation bar which I think overall for newer PA traders is more tricky. But this one I actually like better as it is sitting on a much strong PPZ rather then into one like usd/jpy.

aud/chf closing as a beob on my feed if it closes good I would like this one. Parity level, just fighting a very strong uptrend so manage accordingly

eur/nzd. If pinbar forms its with some massive divergence but also against massive trend. Smaller bar for an extreme reversal, playable to most here. Just manage accordingly

aud/cad - again only if holds would be a pin into a ton of traffic, so it could literally bounce every time. So it would be a trade that needs to be watched very closely and if that left eye type area can't hold it may keep going down. Really tough environment to trade into unless you baby sit it.

Just my views again but long time to go before daily close

Mike
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  #61685  
Old Apr 23, 2010 12:38pm
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Originally Posted by lovejoy80 View Post
Wow...that's as good as it gets isn't it.
Probably my favorite setup out there, especially coming into a friday
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  #61690  
Old Apr 23, 2010 2:04pm
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Originally Posted by dmc View Post
Mike,

I passed on this personally. Was staring at it for a while though. On my feed (ibfx) the bar didnt close below previous bar. Would that make you pass personally. I know that it is hard not to be biased after you have seen it taken off.
Hey D

What I would do if I wasn't comfortable with the IBFX close is wait and see what the next close looks like(fxpro), and in that case it would be a go for sure on the fxpro, IBFX is good enough for a friday bar like this, but I would wait for fxpro just for the extra confirmation

Mike
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  #61694  
Old Apr 23, 2010 3:07pm
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Originally Posted by Steve0001 View Post
Hi mbqb11,

I'm sorry to rain on your parade, but I don't see it. Sure, there is a divergence with the MACD which suggests the pair might drop, but divergence really only indicates a loss of momentum and is not a guarantee of a reversal. The pair may simply consolidate instead before continuing its trek upward. It has also just posted a bullish PB on the 4 hr chart. The divergence with the RSI is not as pronounced as what you see with the MACD. If you look at the 15 min chart, there is a bullish RSI divergence. I also note that the AUD is famous...
Hey Steve

Our entry would be on the BEOB at the top that closed below the round number. This is an extremely high probability trade, This trade has run well of by now, what it does at this point is not really of concern . I think you are misunderstanding the entry of this trade.

Hope that clear is up
Mike
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  #61695  
Old Apr 23, 2010 3:11pm
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Originally Posted by HanSolo View Post

My first question: I don't really get why AUDCHF seems so perfect. It shows divergence, a nice BEOB with close under 1.000 and it may be time for a retrace to the TL. But what about the bullish signal on weekly (broke an I4B to the upside and shows BUOB)? Isn't that a similar situation as on GBPCHF 4hr PB that failed yesterday.

...hm, now that I've wrote this analysis, it really looks like a perfect setup to me... Nevertheless curious about your answers...

Thanks a lot
Andreas
Hey Andreas

This is a key key area. 1.0 parity on a pair is an area that all traders are going to be watching. With the divergence that was forming we know that price 'might' be headed for a retracement sometime soon. This level is a great place to look for that. Especially on fridays which are notorious profit taking days. As for what is going on the higher timeframe it is not relevant to me. Everything is relative to the timeframe I am on. Now when price approached 1.00 it was sharply rejected downards give us a very big beriah outside bar with a very strong close under ther 1.00 parity number. THi is about as strong as it gets for a move downards. I have built a lot of my trading around plays like this.

Hope that clears it up

Mike
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  #61700  
Old Apr 23, 2010 4:01pm
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Originally Posted by Atc View Post
Sorry Mike...would you short at the 1.000 BRN or wait for the close of the BEOB...or otherwise ....or which price would you sell?
Hey Atc

I always wait till the bar is closed and my sell order would go below the BEOB and my stop above the high of the bar. I am a very conservative trader.

Best
Mike
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  #61701  
Old Apr 23, 2010 4:02pm
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Originally Posted by 2010 View Post
Hello,
I am watching GBP/JPY, if the price breaks 145.00 level next week, and retraces to this level for support, that would be great for a long setup. The first target could be 147.00, and 150.00 would be TP2.
I am learning james16 trading style. Comments would be appreciated.

Jason
Love this Jason, simple and effective
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  #61703  
Old Apr 23, 2010 4:19pm
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Originally Posted by dmc View Post
Thanks for the quick response Mike. This month has been a real eye opener with me for being super picky. Probably my best month trading ever and with no stress at all.

One more question, sorry to be a bother. But can you just clarify what you mean for "friday bar like this". I understand Froday is a notorius TP day. especially if at end of month but I thought maybe this would discoutn the validity of the bar not strenthen it. But I guess it can go either way.

Thanks again
Hey D

It would strengthen the bar for me on a friday b/c the trend is up and since people tend to take profit you mix that in with a strong setup and then the longs start to cover further propelling your trade. It isn't a hard and fast rule of course like everything else.

Glad to hear about your success keep at it

Mike
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  #61705  
Old Apr 23, 2010 4:43pm
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Originally Posted by 2010 View Post
Thanks Mike, I appreciate your quick reply.

One more question about AUD/CAD, do you think this is a good PB (it's going to be closed in 30 minute for FXPro)? Because the down trend, even if it closed as a PB, are you going to take it?

Jason
Hey J

Here was my view on the aud/cad

aud/cad - again only if holds would be a pin into a ton of traffic, so it could literally bounce every time. So it would be a trade that needs to be watched very closely and if that left eye type area can't hold it may keep going down. Really tough environment to trade into unless you baby sit it.
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  #61751  
Old Apr 24, 2010 12:27pm
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Originally Posted by fxeturn View Post
Just wondering what makes an A+ setup? How much of the information that needs to be stacked in our favor for a setup to be A+? For example, we have

1) dominant trend (most important?)
2) non-dominant trend lines
3) fibs
4) sweet spots
5) pivot points
6) emas
7) PA bars (PB > BUOVB/BEOVB?)

Do we need to have every of those stacked together in order to have an A+ setup? Or only a few of the most important information is needed? I mean, which of those should be given priority over the rest? How will you rate those information from the highest importance...
Hey FX

THe simple answer is it could be all or none. Sometimes everything lines up in terms of confluence but it still might not be an A trade or look right. Sometimes you have just one of those things and it lines up perfect that it is an A trade. I think it is important to be flexible and open to the situations at hand. So for me I don't have a checklist like 1, 2, 3 then if they all line up trade. I am open to what is going on. After chart time this will make more sense. As for PB> OB defintely not. I actually like outside bars more then pinbars. I think a good starting place is to formulate what things YOU want to look for. This will help narrow it down in the beginning and keep you from over trading .

Hope that helps
Mike
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  #61752  
Old Apr 24, 2010 12:29pm
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Originally Posted by jarroo View Post
Just to add what Mike had said . . .

I understand your concerns with what's going on with the high time frames. But as Mike said, the time frame that the PA setup was presented on is what's important.

But let's look at the Weekly I4B and BUOB . . (chart).

The Weekly I4B hit its target, the previous High or more specifically the 1.0. IMO that I4B fullfilled its purpose. Targets on PA setups are usually levels where we know Price may either reversal on us or continue. Or in other words, they are levels that warn us that uncertainty is at this...

Awesome Jim^2 thanks for adding that bud

Mike
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  #61790  
Old Apr 25, 2010 2:38pm
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Originally Posted by packhorse View Post
Mike,

I have downloaded the above which I know you use at certain times for stops.
Could you kindly tell me what settings you use. How to use it as a trailing stop loss by reference to a chart?

I would be very grateful,

Regards

Glynn
Hey Glynn

I use it mostly for breakouts in order to trail out a trade. I use an ATR period of 3 and a factor of 1.5. I basically wait till price clearly closes under the trailing line or above. So if you are going short in the chart I marked where you would close out your trade. So the red line would be used to trail out short and blue for longs(the colors I use). Red x is where we would close it.

Hope that helps
Mike
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  #61791  
Old Apr 25, 2010 2:39pm
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Originally Posted by kk21 View Post
hello everyone,
i thank the experienced traders for the hand they are lending the new ones like me; i am a complete newbie. my very first post too!

started trading a year ago and blew two small accounts before i stumbled on this thread some 6 months ago. this is my second profitable month, courtesy of j16 style.

for that and more, i cannot thank the originator of this thread and other selfless contributors enough for what they are giving whole-heartedly.
thank u.thanku.thank u...

i have a question about weekend trades: do you guys place...
Hey KK

Welcome

I place my trades on sunday evening when the market reopens. This will prevent worrying about dealing with gaps and widened spreads that might prematurely take you in.

Best
Mike
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  #61793  
Old Apr 25, 2010 2:52pm
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Originally Posted by packhorse View Post
Mike,

As a UK member, I can only say how grateful I am for all of the guidance you give me/us; you really are an inspiration to us all.

Thanks again

Glynn
You are very welcome sir

I appreciate how hard this stuff is and the dedication we must put in to get there

Keep at it

Mike
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  #61898  
Old Apr 26, 2010 1:07pm
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Hey Daneel

There is good news and bad news to your question. The good news is the weight you assign to things is totally personal and comes from time and experience. The bad news is that means there is no clear and cut answer. For me personally it depends on the situations. There are times when PA alone is enough to get me in a trade. There are times when I have all kinds of great things lining up and PA isn't good enough so I won't enter. It just varies so much for me that I try to be flexible to the situation and when things do align in a way that is good then I am willing to enter. I often get asked the question if I have a checklist before entering, and I think as a discretionary trader that can almost hurt you more then help. I think it is good to have general guidelines. What I mean is various traders here do certain similar things. Be it they love Fibs, or they live trendlines, or they love Divergence with all their trades. That is good b/c it helps you from over trading and you begin to look for the same general things. But in terms of weight it is difficult to give to much of an accurate generalization. S/R is probably number one to me b/c this is where we "see" supply and demand. But it is also only a piece to the larger puzzle.

As for where to enter. There are various ways. The most common way and traditional is to wait for a break of the bar. What a break of the bar means is say you have a pinbar to go short. You enter when the Low is broken on the bar. So you are not waiting for the right eye to form you are entering usually on that next bar. Of coruse many enter on retracements or some on the close. Their are drawbacks and advantages to each.

Hope this helps and good luck
Mike

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Originally Posted by Daneel View Post
I'm new to forex trading, as well as this forum and have been studying James' method for the past few weeks....
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  #61899  
Old Apr 26, 2010 1:12pm
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Originally Posted by nuclear62 View Post
Good afternoon everyone, from GMT +2!

I?m very interested in your thoughts about the EURGBP D1 BUOB. It is pretty similar to GBPCHF, 1 day reversal at Weekly TL. To me, wonderful trades both.

I didn?t take red pips, thanks to buffer-entries, but i?ve been thinking my ass off that am i doing something wrong or is it just an example that "you never know.." exists. Now, both are confirming breakouts through Weekly TLs..

Thanks in advance!

Nuc
Hey Nuc

I don't want to scare you off friday bars, just many times fridays are profit taking days instead of true buying and selling. People don't want to have risk over the weekend they take their positions off the table(as the main trend was clearly down so profit taking means price moves higher). Then when the market re-opens people are looking to restablish their positions back with the flow and price moves lower. This is why buffer are so important to me as well. Highs and lows hold very important meanings in the market. You did nothing wrong here and its just time to wait for the next one.

Best
Mike
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  #61903  
Old Apr 26, 2010 3:12pm
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Originally Posted by jspeakman View Post
Hi Mike

Sorry to catch up on an old post - just wondered on this GBP/JPY which I have been watching. Typically would you look for a break of the 145 level to go long say with confirming PA perhaps on a lower TF (e.g. continuation BUOB) or a pull back to to 145 with a good pin indicating long from that level.

Grateful for your thoughts on this type of break out(?) trade

Many thanks

J
Hey J

Either setup would be valid depending on what it looks like. I am not against looking for longs and or shorts from this level. We broke 145 and price just sort of died so lets see what happens when it retests that level.

Best
Mike
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  #61909  
Old Apr 26, 2010 8:08pm
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Originally Posted by bundyraider View Post
What happened here today!?

Were there a heap of posts deleted or something??

First time in a long time I've come back and we've been only one page along. LOL
LOL usually a good sign when the markets are this dead. Hopefully it means people are waiting and not trying to trade every little bump
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  #61910  
Old Apr 26, 2010 8:22pm
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Originally Posted by Daneel View Post
How do you guys play formations like these, particularly if you can't watch what happens? (work, sleep etc.) Set a buy bit order above and sell order bit below and leave it to play out?
yeah you can do what is called a straddle (buy order above and sell order below) if you want to catch a break either way. You can also hold a bias and trade it one way only.


Mike
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  #61947  
Old Apr 27, 2010 2:12am
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Originally Posted by jarroo View Post
and a Chair. lol


Jim
I need a new chair
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  #61956  
Old Apr 27, 2010 3:50am
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Originally Posted by Cyrus View Post
I've found that I enjoy the intra-day alot?
And also studying long term trends and getting on board for a loong ride.

It's bread and butter in the intra-day... and that feeds the funding of long term positions... I derive that view with economics. I have a view and I pick a direction, looking to build positions. For the longer term, I really don't care that much, cause as long as I don't lose, I just want exposure to the major swings.

I guess I can't just do PA only. It's like when I'm in a plane, I need...
That's what it is all about applying it in a way that aligns with your beliefs about the markets. Of course if it doesn't work sometimes we have to shift some views till we get there, but there is no one right way. Take PASR and apply it to what you already know or do and its bound to help most people

Mike
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  #61994  
Old Apr 27, 2010 9:58am
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Originally Posted by s005606 View Post
Hi Bill,

I am not senior, but if I may try to share...

I think it depends on which timeframe you're looking at/basing your setup on, say if we spot this setup from 4H chart, we should wait for PA from the next 4H bar (ie, wait for the next 4 hrs) to be broken. If this setup is later also present in the D1 timeframe, then a break of PA from the next D1 bar will be even more powerful (higher probablity trade).

However, if the next bar (of whatever timeframe you're looking at) doesn't break, some people may cancel the order (I remember Mike...
Yes this is correct, thanks.

A bar setup is valid until it breaks, or invalidated when the other side breaks. How long you choose to leave your order, like most things is discretionary. I choose to measure momentum by pulling my order 95% of the time if the next bar does not break. This is just something I have grown to do, it is not a hard and fast rule and many people leave their order for much much longer.

Best
Mike
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  #62020  
Old Apr 27, 2010 1:41pm
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those who do the quick to b/e game still could have killed it on this one.

First trouble area is 86.50 and a smaller pin like that IMO you must do something at that point if at the least move your stop above the high of the current bar(this is what I talked about yest in my webinar). If you catch the runner you catch it, but like James says we don't just hope anymore with these types of bars.

Nice pips for those who took it congrats

Mike
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  #62023  
Old Apr 27, 2010 2:28pm
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Originally Posted by nasir.khan View Post
I took it and then I talked myself out of it at -2 pips.
Ohhh well.
No biggie my friend, I have basically sat on my hands this entire month. It's a lot better then big losses


Mike
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  #62038  
Old Apr 27, 2010 4:40pm
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Quote:
Originally Posted by jarroo View Post
Hey Mike.
Could you give a quick overview this potential setup on the nzd/usd.

Thanks.

Jim
Hey Jim
Overall it looks to be a bullish flag. i don't like the pattern on the daily b/c of the amount of space b/w the recent peaks but if we drop back out to the weekly it looks a bit more clear. It would be interesting if price goes retests .7000 gives us some bullish PA that eventaully clears the way for price to go overall higher. Choppy pair overall really going to be waiting for something clear and disticing around the .7000 area more then anything else. But a break of this and potential for a pullback at your area makes perfect sense too.



Just my views
Mike
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  #62051  
Old Apr 27, 2010 5:27pm
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You'll have to ask Mike what the odds are on that one. lol
depends on what you're up against strictly % wise that is
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  #62055  
Old Apr 27, 2010 5:47pm
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Originally Posted by Scotty2Cues View Post
whats going on with the yen today?

and whats an I4b?
here ya go

http://www.forexfactory.com/showpost...ostcount=59040

Mike
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  #62061  
Old Apr 27, 2010 6:06pm
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Originally Posted by bluemosaic View Post
I was wondering if someone could help me understand which time offset to use. I am based in London and have seen brokers offering Forex charts with GMT, GMT+1, GMT-5 etc.....

Hey Blue

Ultimately it is up to you b/c there is no closing in the forex market since it is not centralized. I prefer a close at 5pm est as this is after NY and when the other markets are closing thus the "end of the day" in my mind. price bars are just aggregation of price so yes sometimes you might not "see" the bar and other times you will but it comes down to everything together and more importantly location which never changes. Just use what is comfortable

Best
Mike
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  #62083  
Old Apr 27, 2010 9:10pm
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yeah that one would have lost
I don't know many people who want to go trading IBs on the aud/nzd, that pair is choppy as hell
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  #62121  
Old Apr 28, 2010 11:21am
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Originally Posted by Samb0o View Post
Hi

I'm new to this forum and new to whole fx business. have been studying few weeks now and found this james16 threat after i heard this is great one. For few days reading looks like great and i'm going to go all threat through, but wanted to ask does anyone have all the charts that james16 has posted in one .zip file so that could be printed out? Would be lots of help to have all in paper.
Hey Samboo

Welcome try this

http://www.forexfactory.com/showpost...ostcount=55762

Best
Mike
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  #62122  
Old Apr 28, 2010 11:22am
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Originally Posted by An_Lie88 View Post
hello i want to say a big thanks to all of you guys.....learn a lot of things from this community.....

the first time i read i learn about PB,BUOB,BEOB aka candle formations, demo in big tf and learn about patience + MM......further i read, i learn about confluence, candle locations, traffic and PPZ.... and further i read again, i learn about breakout retrace PA........and further i read again i learn about trailing your stop so that you can't have a big losses in ur trade.....still in page 700....hope will catch up with you ASAP........and...
Welcome Lie keep going! demo demo demo till you get it
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  #62123  
Old Apr 28, 2010 11:23am
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Originally Posted by nasir.khan View Post
Hey Mike you like BEOB's at BRN's???

(If it could close below the BRN.)
.
Hey Nas

I do, but I would have needed more info then just engulfing 1 prior bar. i would want to see a story. Obviously never closed below and bounced off the BRN though

Best
Mike
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  #62159  
Old Apr 28, 2010 3:04pm
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I know NOTHING about IPBs, its funny cause people hop into this thread late and assume it is a J16 bar. Not that it isn't an effective one, I have been trying to keep an eye out. These days I just don't seem to have time to test things to add. I wish I did still.

I did see this one yesterday and thought of our G man


Mike
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  #62165  
Old Apr 28, 2010 3:11pm
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I remember in a webinar of yours you were asked a question about a bullish IPB on the euro weekly...despite the fact that you're not into them you provided the best explanation possible.

I tried to search through the members at the pf who this guy/gal was so I could talk the setup out with him/her, was his user name "spider" or what?
What date webinar I will go back to it ?
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  #62168  
Old Apr 28, 2010 3:22pm
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Originally Posted by ghous View Post
I don't precisely remember but I guess it was the 2-15-10 webinar...perhaps.

Here's the IPB that the query was referred to...

Funny thing is you still don't know how to pronounce my name
GOSS like BOSS I know now

Yes it was spyder
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  #62174  
Old Apr 28, 2010 3:37pm
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that sure does for a quick breakout play
Dan this one did very nicely. These are nice clean plays


Mike
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  #62189  
Old Apr 28, 2010 5:34pm
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Originally Posted by triggerju View Post
Thanks dude I guessed I just wanted clarification... they just look nasty. Wondering how/why they have suddenly become popular with J16 group even though they go against the grain a bit?
It doesn't really go against the grain it just isn't something introduced by James. Price bars themselves are a small portion of the bigger story. I prefer to look them as our trigger bars. So you can stick them into the list of IB, OBs, Pins, IPBs, DBLHC/DBHLC, etc

Best
Mike
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  #62194  
Old Apr 28, 2010 7:31pm
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Originally Posted by triggerju View Post
People talk of 50% per year with J16... you can kill that number with stocks just following the general market bias!!
.

ughh really? Where do we do this, I'll gladly stop trading if it's that easy
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  #62196  
Old Apr 28, 2010 7:36pm
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Originally Posted by 4X=0 View Post
why would you stop trading if its even easier?
If I can get easy 50% ROI year over year without trading? Show me where this is and I will shift all my money there now. Of course this an easy 50% since its just following general market bias means its nearly risk free.

My point is this "easy" 50% does not exist out there. So yes I will continue to trade
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  #62202  
Old Apr 28, 2010 7:46pm
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Originally Posted by fxeturn View Post
I noticed that some of you guys seem to only try to catch 1 bar whenever going into a trade, or was I wrong? So nobody really rides the profit or there's just too little to risk to reap the rewards (chicken out)? I'm not against anything but I'd like to understand what's the difference that makes one satisfied with taking 1 bar of 50 pips and the other who rides all the bars along the way for 500 pips.

By the way, I'm 27
Hey FX

There are a lot of different styles here. I try to do what I believe is the best at the time. Sometimes that means I am in for a quick trade, sometimes I ride a trade out for days. Some people can not stand losers at all so they tend to have very high win rates and overall very small wins. Do whatever is comfortable is the best thing.

Best
Mike
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  #62204  
Old Apr 28, 2010 7:50pm
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Originally Posted by Ted1983 View Post
Wrong.

I've tried that and it doesn't work.
hahaha well not WHATEVER. But certainly certain personalities and styles will make up your trading better. It is a LOT a LOT a LOT of trial and error.


But touche

Mike
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  #62217  
Old Apr 28, 2010 8:28pm
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and since some people are more happy miserable this is to cheer them up

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  #62225  
Old Apr 28, 2010 9:42pm
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Originally Posted by joelcf View Post
The only way you are even possibly getting an ROI in that range is by using a ridiculous amount of leverage and dicey position sizing that veers right into the heart of RoR territory. In which case, ROI is meaningless - it is ROE which actually tracks the returns from your strategy, and they are going to be alot less impressive.

In fact, I would be suprised if you could name a single person who does that consistently with any kind of real account (ie, not I risked my $100 account on a penny stock and doubled it this one time).

To be completely...
excellent post as always Joel
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  #62242  
Old Apr 29, 2010 12:03am
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Originally Posted by fxeturn View Post
That made my day. Yet another piece of great insight I learned from you guys. So I can safely assume that most J16 method practitioners here enter a trade with more than 1 lot, minimum 1 for quick TP and another for discretionary TP?

Hey FX

I don't think you can really generalize that much. I have seen such a wide variety. The last few posts by joel and Jarroo show the differences in approaches. I for one NEVER take partial profit, many do, some do sometimes and not other times. You really have to sort of jump in and start to sort through what begins to work and doesn't and build off that. But yes it is a reasonable place to start and you may end there too

Best
Mike
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  #62244  
Old Apr 29, 2010 12:06am
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Originally Posted by fxeturn View Post
Okay Mike, I got it. The key word here is 'discretionary' yes?
very much so ... like I always say it's good b/c there is a variety of approaches that can work, but it's tough b/c it isn't a 1,2,3 process
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  #62249  
Old Apr 29, 2010 1:24am
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Originally Posted by nasir.khan View Post
No you still did't get it. lol
.
from his profile!

Hi everybody,

Ghous reporting...(Ghous is not like goose or ghost. I always tell ppl to replace the letter B in BOSS with G to come close enough to the actual pronunciation)
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