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james16 Chart Thread
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Feb 14, 2010 4:32am
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'Try-hard' extraordinaire...
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Quote:
Originally Posted by mike w
Blah, facebook sucks man. I used it to find out stuff that's coming up over the weekends but then got "lured in" and lost money because of lost trades so it had to be deleted asap. There's a chat feature on it and when I start flirting, there's just no stopping lol Damn you facebook, damn you!
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I turned chat 'off' within a week . lol
New 'friend' on chat window :-
"HI!!!! How R U? Haven't seen you in ages! What U been up 2??"
( Translated: "Where do you live. Can I have your phone number too? I want to txt you 10 times a day. Haven't seen you for 2 weeks!")
Me:
- "Hi. Yeah great! How are you? Been a little while I suppose. "
( Translated: " ummmm... Oh s__t. I knew confirming you as a friend would be a pain in the a___. How's your mental state this week? I'd better fake a connection failure, stat.")
...Though now you can create separate friends lists and turn on the lists you don't mind chatting too separately from the others whenever you wish.
Facebook's great though. Caught up with sooo many old school friends that lost contact. (and visa versa) None of them like the above example , fortunately. lol
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Bundy's status today: "Waiting...  "
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Feb 14, 2010 4:49am
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'Try-hard' extraordinaire...
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Quote:
Originally Posted by dobe_r_man
I see a good short term move to the upside on Caterpillar........nice weekly buob that if broken will also break through a pivot. First expected target / area of resistance at 61.00 level.
Nathan
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Hi Nathan ,
That trend line you've drawn is too much "Curve fitten" like for my tastes.
If you have to cut through a weekly charts swing low like that, not too many people will be taking notice of the levels it creates.
The next closest candidate is probably like what I've drawn below.( using the line chart 'close price' levels).
Or the two options lower down , that merge to similar levels.
(edit: Or the one I edited and added above. Again using the close price chart, btw)
,B
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Feb 14, 2010 11:28pm
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'Try-hard' extraordinaire...
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Quote:
Originally Posted by supremeChaos
the above charts speak better. 
Hope this post helps
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Nice S/R levels SC! 
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Bundy's status today: "Waiting...  "
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Feb 15, 2010 1:52pm
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'Try-hard' extraordinaire...
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Quote:
Originally Posted by mbqb11
Agreed, I just share my experiences, and how I think if I was new, or trying to become a profitable trader what I think the best steps are. They are different then the steps I took to be where I am now, but things are easier to see looking back on it and if I can even slightly speed up someones learning curve then I am grateful
Mike
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Yes. It's gotten quite obvious that people have to have the pieces fall into place in their own individual way.
The mixes of trade setups that people take eventually governs the trade management and risk style that will work for them individually when they "get there". ...and vica versa.
The best any of the more experienced members here can do is act as throttle stops and point out the real bad habits ( and re-inforce the good ones!). ...With a little of " this is what works for me" thrown in. 
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Feb 15, 2010 2:03pm
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'Try-hard' extraordinaire...
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Quote:
Originally Posted by fxprocessor
Fantastic!
many thanks
fxp
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Yeah ditto. I snavvled it earlier too. lol
Haven't watched yet.
Good to see you still hangin' round too fx. 
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Bundy's status today: "Waiting...  "
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Feb 15, 2010 6:50pm
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'Try-hard' extraordinaire...
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Quote:
Originally Posted by Cherry
Thanks chatzi, I'll give it a try. However when I go to open the video how do I make sure I open it in the VLC Player? I tried right clicking and it doesn't seem to give any options of what player you want to use?
cherry
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If you have Windows XP, you may have to hold the 'shift' key down as you right-click the icon. That should then add the "Open With..." option to the list that comes up.
VLC is great. Starts fast and plays just about everything. 
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Bundy's status today: "Waiting...  "
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Feb 16, 2010 6:53am
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'Try-hard' extraordinaire...
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SLEEP patterns for traders.
Quote:
Originally Posted by fxlan
I would gladly cut my sleeping time..but i am not sure its healthy
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Sleeping pattern info...
Anyone here heard of Polyphasic sleeping??
(Most of you would have heard of your circadian rhythm anyway.  )
There are three types of sleeping...
Monophasic :-
Where you sleep in one session a day... such as 8 hours at night.
Biphasic:-
Where you have one main session and another 'siesta' style session later on in the day
Polyphasic:-
Sleeping in small amounts throughout the day trying to squeeze more waking hours out of each day. i.e. 2hrs + 20 mins + 20 mins + 20 mins + 1 hour and so on spread out through the day. There's thousands of blogs of people trying to do this in their own inventive ways.
It's normal for us to be Monophasic or Biphasic sleepers and be completely healthy. Even better is the suggestion that you should 'free-run' your sleep (Let your body tell you when to sleep and wake-up , always)
As a trader it's very tempting to sleep all over the shop and irregularly and try and catch all the sessions in many many markets. ...Tempting to go the Polyphasic route.
I had to look this up this past couple of months, got too curious, and of all the links that I found, this guy (doctor or something) gave up VERY convincing information that pretty much told me to STOP right there and find a way to stay with normal sleeping patterns.
Sleeping Pattern FAQ
I found many articles before this, too, and spent most of a whole day reading. (You have to with info on the internet , to filter out the B.S.  )
Now that the subject has come up here, I wish I'd bookmarked it all. (was on another PC)
Another article I come across explained how your liver , etc, need their 'time allotments' during certain phases of your primary sleeping session. ...all related to certain important parts of your body having their own circadian rhythms and synchronising with the master clock and so on... (Jet-lag anyone??)
Do the research , it's eye opening and should be totally obvious to what you've experienced yourself over your lifetime so far.
Similar to supremeChaos mentioned... I already know that I'm a lot healthier for getting decent sleep the past twelve months , and after all this new information, I am now 100% convinced that you can't afford to fight your body on this one more than a couple of times a week. It all has to balance out, and it has to include periods where you let your body tell you when it's ready to wake up rather than using alarms to interrupt it. It's a lot more significant than just making you tired and run down.
I've started to play with a table trying to figure out where I should synchronise my self to in the 24-hr day. Will get back to that one day. lol ..I seem to be a bi-phasic sleeper most of the time.
Quote:
Originally Posted by mbqb11
Sure would be easier , but I make out ok. Some days you sleep more then others. I set alarms , and I am not mad when I miss something(that mad at least).
I think the aussies have it the best (aussie aussie aussie OY OY O Y! right?)
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Used to be pretty good. Until the financial meltdown killed a lot of the London session (in my mind at least). Great here if your end of day trading. Check charts at 5pm (NY time) and then go about your normal day (around 9am at the moment. 7am middle of the year)
There are still good set ups during sane hours, but they're rarer at the moment.
I'd love the NY/Europe session to be during sane hours here. Perth in W.A. would be tolerable (anyone here?). They're two hours (and 5 years  ) behind us over here on the east. Even better later on when the Daylight Savings times change around again the next couple of months.
Right now, I think the Middle eastern countries get the best time frame for intra-day trading. 
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Bundy's status today: "Waiting...  "
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Feb 16, 2010 6:57am
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'Try-hard' extraordinaire...
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Quote:
Originally Posted by bartstop
10 minutes to go until close of this candle.
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Against divergence , and those sideways bars up top being a bit close.
Just letting you know in case you missed the divergence. 
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Feb 16, 2010 7:29am
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'Try-hard' extraordinaire...
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Quote:
Originally Posted by Jduester
Hey Bundy,
I have some experience with this. Eager to read your link. I've been on a bi-phasic schedule for 9 months now, though I'm recently a little torn. I might be going back to a normal 7.5hr night (5 cycles) as I train for a marathon and while I'm only trading d/w charts anyway, so no big need to get up so early.
http://www.stevepavlina.com/forums/h...tml#post346094
Sorry for throwing thread slightly off track
Josh
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Thanks Josh, I'm going to read more of that tomorrow. It's interesting reading.
Going through just the first few days of posts I can see that reading the link I gave in my post might have given you a few ahah! moments. lol
,B
Edit: When taking body repair into account, training for a marathon while also limiting your sleep I thought would not work very well at all!
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Feb 18, 2010 7:26pm
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'Try-hard' extraordinaire...
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Quote:
Originally Posted by michal7
There's this USDCAD BUOB on my chart.
It's not A+ setup based on my rules so no trade for me but I would still like to know your opinions. Tradable for anyone? Pro/cons? Something I missed?
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..."From longer term it's ranging pair, so there's a chance it will go to the top of the range - 1.0700 area."
So wouldn't you think better trades would happen at the bottom or top of that range rather than a ppz in the middle?
This trade is is the "OK"-ish range.... It's off of a PPZ at the 1.0420 area. and the bar is a swing-low Bullish outside bar. (It's not a REAL strong bar though.)
Ask yourself this...
"Will I regret not being in it (neither losing nor gaining money) when it just happens to hit the top of the range?
....Or will I regret it more not being picky enough with my trades when it bombs out , losing money , and then a stronger trade happens at the bottom of the range anyway?"
Someone who did take it would want to be very smart with their trade management.
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Feb 18, 2010 7:40pm
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'Try-hard' extraordinaire...
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Quote:
Originally Posted by longshot_nl
Hi i got asked to join this thread.
I read james16 introduction.
I am not going to get a demo account for 3 months though and i am not going to play with 2% of my account doing only 3 trades a month.
I did play with 2 demo accounts in one month and i had profit on both.
I don't know what commercial forum means but i am also not going to pay for a forum.
Up to late today i did just fine.
I made a mistake by going long with a too big a trade and not stopping my longs.
Am thinking to go long on gold though... see pic.
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Welcome to the thread, Longshot.
You are free to go about your trading journey whichever way you like.
Just be mindful that many, many, many, many, many, many, many, many, many of us in here have "been there , done that" too. So plug away , and when you do have trouble just ask.
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Feb 18, 2010 8:01pm
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'Try-hard' extraordinaire...
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Quote:
Originally Posted by Riskee
Finally an Excellent PB , If this baby closes up like this I'm totally IN 
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It's a LOT smaller than the two bars preceding it Riskee. Who's winning? Buyers or Sellers? 
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Feb 18, 2010 8:10pm
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'Try-hard' extraordinaire...
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Quote:
Originally Posted by Riskee
Hey Folks , Check out the Aussie 4H chart seems interesting to me with a Beautiful BEOB + Clean trend break + Close below the 50 Fib level well , I entered this trade ( Micro lot  ) . Best of Luck 
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...This one, on the other hand, is much better. 
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Feb 18, 2010 8:24pm
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'Try-hard' extraordinaire...
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Quote:
Originally Posted by SeekingLight
Word up my man, I thought I was the only one reading some of those pages in-depth.
Some very interesting things on that site, and there is even a free online supermemo based language learning course I think.
Really just wanted to say "hey" to my favorite polar bear 
(Been snowing, cold and slippery all year so far, so how could I not think of you! Teehee)
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"Hey"
Always good when you drop in, buddy.
Quote:
Originally Posted by mbqb11
come on Patrick he is a BUNNYraider
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Who's the resident rabbit hunter??? 
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Bundy's status today: "Waiting...  "
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Feb 19, 2010 7:03am
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'Try-hard' extraordinaire...
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Quote:
Originally Posted by Dhb
Question:
The fed rate yesterday, and nfp on the first friday of each month, produce spikes in the charts most of the time. What do you do with them if they create trade signals? Take the trade? Or regard them as false signals and stay out?
Take the fed rate yesterday for instance. It produced several outside bars on H4 and even some on D1. Now let's assume for a minute that the outside bars were formed on what would be considered good locations. Would you trade them or not?
I can imagine that trading from D1 charts, you would ignore the news...
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Hi DHB,
Trade what you see.
I'll tell you the reason for it.... (and you don't have to have this sink in. The most important part IS the line "TRADE WHAT YOU SEE" )
I've been studying news "after affect" trading (for, what seems like, forever. lol). (...You don't need to bother knowing any more. Will just give information overload. lol ), ...but what I find is a pair can go in a TOTAL opposite direction to what the news indicates it should anyway, then hit a major PPZ or TL (or whatever strong confluence) then rebound and head in the direction that it SHOULD go after that news announcement. (This can happen because of the order book emptying at news time. If you were a bank , why would you risk leaving a big order in an unknown market??)
Pretty much what I'm saying is that if it gives a really good PA signal that has A VERY VALID LOCATION then go for it. In fact be MORE weary of LOCATION, LOCATION, LOCATION.
If the news creates , for example, a strong looking BEarish Outside Bar (BEOB) that stops at a sideways consolidation area dead on, then you know from your normal trading that you should be careful trading that anyway. (You would wait to see what happens at the consolidation area first, wouldn't you?  ) ...The same thing happens at news time. But at the MOST strongest areas at times.
The end result is, for the most part, and at least as far as the odds go with your trading, just trade what you see. Just be EXTRA EXTRA EXTRA weary of your location on the chart. ...Well.... pretty much what you should be doing at normal times anyway , eh??
One more thing. Don't trade lower time frames unless you've done a LOT of watching.
Once again.... TRADE WHAT YOU SEE and you can pretty much ignore NEWS and simplify your trading life. Just be extra vigilant. (like always. haha)
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Feb 19, 2010 1:22pm
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'Try-hard' extraordinaire...
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Quote:
Originally Posted by bertie123
Hey Benji
Awesome charts and analysis...a great piece of work man and done in the honourable and generous spirit of this great thread. From what you have shown here you are well on your way to success!
berti
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TOUCH TRADING.
This is really healthy that everyone is questioning the viability of this style of trading.
You can make a lot of money without this. It just adds a little versatility later on, that's all.
All of the guys that have been around a while can do this. And for one reason, ...because they know Location ,Location, Location, AND WAITING, WAITING, WAITING ,SO WELL. They have garnered A LOT OF CHART TIME. They don't trade a touch trade because it's a touch trade... ...They trade it because opportunity and experience come together at just the right moment.
Me, Mike, Rac, I'm sure Seeking could. Rusty,Maybe Kiss, Mike W, Hipster, Jim himself and others who are quieter....Nothing magical about it other than A LOT of chart time. Taking advantage of magical confluence conditions. We try not to encourage it, because we just know it won't work out until you've stepped through all the other mud ahead of you.
Don't try and run before you can walk. Unless it's DEMO. ...Why would you???? YOU CAN MAKE REAL BIG MONEY TRADING JUST STANDARD OLD DAILY PA when you start out AND when you are laid back and retired, if you so choose.
Don't try and bring EGO into it. Start at step one. There's no prizes for F___ing up. (and that's what most guys will do before they wake up )
Just master the basics. Treat this as a business.
All this touch trading just comes from soaking in all the circumstances that bring about great entry conditions. Sometimes, the coolest entry just happens to be a touch entry, and the experienced guys just do this because it comes along some times. ...not because of the sake of a touch entry. Just because they see that location on the chart in front of them after Condition X + Y is met ,and sit and wait in the bushes for it to limp along in front of them. We think to ourselves.. ." THERE ....Right there.... I'm waiting for THAT to get hit....within in THIS time frame. , AND LOOKING LIKE THIS"
All those guys will tell you... it's about just being there when things fall into place and KNOWING HOW TO MANAGE IT, and you don't know what that is until you have spent time getting everything else right , and in a consistent way, ..............confidently.
...That means NOT over trading , being able to Snipe your trades , having confidence in what will tend to be the Norm most times, and being willing to walk away when you just miss out on getting in and waiting for the next one. ....ETC .....( "ETC")
I see a lot of guys throwing touch trades up and, with the exception of one or two new guy's posts, I just sit there shaking my head, and I know Jim, Mike , Rac, and Rusty and MikeW and so on will be doing so too. ...Knowing that it's unlikely we can teach the lesson without you experiencing it for yourselves. Happens over and over and over again every couple of months. ....seriously it does! Repeats and repeats!!
Most guys and gals doing this are 'breaking even' , at best. I AM WILLING TO BET ON IT.
People...
Have patience...
With-in a couple of years you can be there. It's like riding a bike. At first you struggled to even stay upright without training wheels, but over the years you worked out how to pop a mono and learnt to jump the gutters on the way to school , without thinking about it. (these type of analogies are getting old too. lol)
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