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james16 Chart Thread
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Mar 18, 2010 1:09pm
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'Try-hard' extraordinaire...
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Quote:
Originally Posted by lovejoy80
A 'touch trade' opportunity for some people I think
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I've got that level marked on the charts too, but no way would I trade a touch trade based on a 'messy' level like that.
Needs to be perfect in my opinion. Clear precise rejections at that level.
The top and bottom of the current sideways market on the Euro, is a better example. 
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Mar 22, 2010 7:58pm
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'Try-hard' extraordinaire...
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Quote:
Originally Posted by triger88990
I was browsing through the internet and found this little story and I thought to share it with you, maybe you will find that you where in his shoes one time. Is about a trader and his mentor, at the end the mentor have achieve to lead the trader to financial freedom...
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Thanks Trig, Good story.
Especially liked this bit...
"He decided that he would take every trade entry signal his system gave him and follow his trading plan as if his life depended on it.
As if, after each trade was closed out, he had to stand in front of a panel of super traders, and explain his actions to them - why he entered where he did, where he placed his stop losses, why he exited when he did.
And if they weren't convinced he followed the rules of successful trading, he would be taken out and shot!"
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Mar 22, 2010 8:03pm
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'Try-hard' extraordinaire...
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Quote:
Originally Posted by Jcp
Thanks Mike, I have another quick question for you. You mentioned in a prior post that most of your BRNs are every 500 pips? This sounds interesting to me as I am trading daily and weekly and hitting BRNs seem to be very frequent. Would you mind expanding on this when you get a moment? Thanks!
Jacob
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Quote:
Originally Posted by mbqb11
Hey Jacob
This is something I adopted long ago. It accomplishes a lot of things. Firstly it keeps you from trading every 10 mins . More importantly these larger round numbers are hit less, thus when price eventually makes it back to one it is going to generate both a lot of psychological interest as well as economic interest, and other things like barriers and tons of OF exist. Now this isn't to say the smaller round numbers are not important. They are very important, but more important for me in trade mgmt. Open any chart plot these numbers and then look at price around these areas. Remember to think of them as zones.
Best
Mike
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That's golden advice for anyone willing to see it as that, and then take it on.
You could say the same about the strong weekly/monthly PPZs too. (Which often end up being BRNs anyway. ) They are AWESOME for limiting your trading frequency and improving win rate.
edit: Fixed. This quote truncating gives you the s___s some times. 
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Mar 22, 2010 8:38pm
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'Try-hard' extraordinaire...
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Quote:
Originally Posted by bartfx
Hello there!
There's a "B" grade PB forming on my NZDUSD chart. It aint perfect but might come out profitable.
Attachment 444739
Pros are:
- 0.7000 BRN that rejected price, also has been proven as S&R in the past,
- 32% fib retracement of downward move 0.7440-0.6809
- 50% fib of rally 0.6847-0.7177
~100 pip SL could be used and moved to BE when 30-40 pips in profit. Targeting RN of 0.7200 (or just below) which is also 62% fib retracement.
All comments on that welcome.
P.S. It might not be the fact of utter importance right now...
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Almost didn't comment on this one.
It's a little hard to justify for someone who is really picky, but I certainly wouldn't scold anyone who decided to take it. Good rejection of .7000
Someone who believed in it and managed it right might do alright.
I don't like it for myself though.
(CHART BELOW:- Pink trend line is why I don't. Possible retracement only. And.. long laborious ride trying to break through that line on any move up)
.
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Last edited by bundyraider, Mar 22, 2010 8:50pm
Reason: Rusty... Left 'Ask' line option on. (Looked like S/R line. It not)
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Mar 22, 2010 8:59pm
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'Try-hard' extraordinaire...
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Hahahaha.... I trade Pins. 
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Mar 22, 2010 9:15pm
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'Try-hard' extraordinaire...
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Quote:
Originally Posted by mbqb11
so that is what all this pin stuff is about, nice collection B
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Thanks bro. 
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Mar 24, 2010 6:12am
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'Try-hard' extraordinaire...
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Quote:
Originally Posted by The Captain
Hey everyone,
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"<-- My other job."
You have my full, insanely jealous, attention. 
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Mar 24, 2010 12:50pm
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'Try-hard' extraordinaire...
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Quote:
Originally Posted by The Captain
Thanks BR, but it's just another job! Pays the bills and gives me a little extra to trade.
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I'm sure it is. Still another job where you can't wait for your weekends etc.
You'll have Raczekfx off in dreamland too. (Someone who's posts you'll definitely want to check out in here.)
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Mar 24, 2010 12:55pm
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'Try-hard' extraordinaire...
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Quote:
Originally Posted by nasir.khan
It's 9.50 PM here.
And i am still in the office.
Thanks to Auditors.
Which leads me at this piont:
Why Aren't We Rich Daddy?
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That's annoying. Around about the time of the day where patience goes downhill too, especially if you haven't eaten yet. lol
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Mar 25, 2010 6:35am
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'Try-hard' extraordinaire...
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Watching Cable and Fibre like a Hawk.
(...Hawks get distracted by forums too , don't they?  )
(Super confluence on Cable. Chart later...)
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Mar 25, 2010 7:23am
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'Try-hard' extraordinaire...
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I'm supposed to trade tonight it seems...
Can only get Forex Factory on my browser but no other sites. Can't collect email....
But my broker connections all work. LOL
If I wasn't watching Cable so closely I'd restart the PC. lol
Great time to be rebuilding my backup PC. Not. 
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Mar 25, 2010 8:52am
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'Try-hard' extraordinaire...
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Quote:
Originally Posted by james16
i know one guy that wont take even the most perfect set up unless there is divergence. he hasnt had a loss in months.
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That would not surprise me at all.
I try not to trade against it. Just seems silly to do so.
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Mar 25, 2010 9:46am
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'Try-hard' extraordinaire...
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Quote:
Originally Posted by bundyraider
Watching Cable and Fibre like a Hawk.
(...Hawks get distracted by forums too , don't they? )
(Super confluence on Cable. Chart later...)
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Getting tired ,but suppose I'd better do that chart now.
I like these trades with trendline pullbacks... (I don't know of anyone else who does that here.  )
1. Indigo trendline (named in chart 2).
2. 365 EMA
3. 50% Retrace and 61.8% fib in same 'zone'.
4. Floor trade pivot.
5. And the big fella... 1.50000000000000 B.R.N. (...just to make Michael proud  )
.....which is also a GREAT PPZ zone , as per chart 1.
6. All in confluence with the leather football.
Another factor... Had already printed a REALLY GOOD REJECTION in the form of a pin (same on 30 min chart). Proof of trade area.
Waiting for trades like this you hardly ever see major draw down.
Was so confident of making money and getting to the free trade position I wasn't even worried about missing the absolute top. (Went waaaay too quick this time anyway. DAMN quick.lol . So watched for signs of big resistance for a while and got in at 50% area)
Protected big time by the other side of all those above factors.
IN short at Orange 'X'
...managed trade at Green 'X'
(In this case sold half. Moved rest to B.E. ...Reasoning?... Big support below. Quick profit mode on shorts around this area)
Took trade expecting TL bounce and then down further for another attack of the big blue area  at bottom of the two charts.
Took profit etc in case we are bottoming because of same.
Night all. <yaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaa aaaaaaaaaaaaawn>
You'll have to excuse the busy looking charts. My 15min charts have the floor pivots activated.
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Mar 25, 2010 4:38pm
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'Try-hard' extraordinaire...
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Quote:
Originally Posted by Dan Gilbert
you have a junky GBPUSD 4hr pin on ibfx... it broke pretty hard though..
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Wasn't trading that chart. Added that one to show what was happening when you zoomed out.
Sorry, should have labelled the chart to stop from confusing some of the newer guys and gals too. That did look like I was looking at that bar, now that you mentioned it.
More about location, location this trade, though.
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Last edited by bundyraider, Mar 25, 2010 5:06pm
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Mar 25, 2010 9:27pm
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'Try-hard' extraordinaire...
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Quote:
Originally Posted by triger88990
Some thoughts about fiber.
Althought there are many people who expect eur to recovery despite Greek financial crisis, many investors where cought in this fade breakout(see chart) trying to push their luck by overcome a positive outcome for euro zone.
The overall sentiment is bearish if you have a an open mind and reasonably clear sight to loock at chart. I'm in opinion that Greece will bailout but is just not the time yet,it's a metter of how and when, till then I can't see a base where this sell of can end.
This drop that we are dealing...
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Jaroo's right, great post Trigger man. 
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Mar 25, 2010 9:38pm
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'Try-hard' extraordinaire...
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Quote:
Originally Posted by mbqb11
hehe yep, I peek out once and awhile, but I prefer civil people who want to learn and give out respect
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Haha... If I could somehow bookmark the 'unread' pages in this thread I wouldn't even know the rest of the forum existed. 
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Mar 26, 2010 10:19am
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'Try-hard' extraordinaire...
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Quote:
Originally Posted by Jonners67
Could someone advise as to how far back we should look in plotting PPZ's. E.g. on a daily chart, would it be 3 / 6 / 12 months (or longer) - is there a time beyond which they become increasingly invalid?
Thanks
Jonners67
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Tough question.
You need to look in context with the timeframe your charting.
My opinion is you should always be aware of PPZs that are prominent on your higher timeframes. (Some disagree).
For example, if you're trading the 1 hour chart , then instead of scrolling back many pages, you are better off switching up to a higher time frame a looking for your PPZ there.
Have you checked out Jims videos on the PFs guest page??
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Mar 26, 2010 10:23am
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'Try-hard' extraordinaire...
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Anyone else thinking Euro to 1.3465-ish to 80-ish area??
Should give us a trade abouts there I'm wagerin' on. 
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Mar 26, 2010 10:59am
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'Try-hard' extraordinaire...
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Quote:
Originally Posted by nasir.khan
My little picture. 
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Good to know. Not something I'd trade off though( personally ) , but still good to know it's there. 
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Mar 27, 2010 10:04pm
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'Try-hard' extraordinaire...
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Quote:
Originally Posted by TiaForex
I know they are great for the futures markets but do you find them great for forex too Jim? Just curious as the jury's been out for me on that one.
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I remember Jim commenting on this in the past.
If you don't mind, I'll comment too though...
I use them religiously on 15min and lower charts. (set to N.Y. 5pm close).
Forex having different start times in different markets causes probs with consistency, as you know,but as a confluence event they can be very very very handy at times. ...Though there are many days that they aren't worth being part of the decision process at all. After lots of chart time myself, I've gotten to know those times pretty well ahead of time. On some pairs they are useless most of the time, but the majors are pretty good.
The chart below is my trading screen as it stood when I closed it down Friday night. (With markers now, of course.  )
You can see why I took the Pin @ "1". Previous resistance turned support is there, as you know, but having that pivot line up too is like adding nitro to my willingness to push the button on it. I often touch trade ones like that (no this one). Took full profit 5 pips before the next pivot. (I use them A LOT for targets. If you like, check my post from a couple of days ago take half profit at pivot)
Look what happened Friday though. Double bar pin @ "2". Many people here would enter there, but I personally wouldn't take the trade , starting reason because of the trend line being borderline distance for profit, but the main downer was the pivot line just above it, and the main pivot to boot. Confluence of crap, so to speak. lol
Looking at every bar in that chart and you can see how at least some traders place orders around these levels at even rubbish locations (silly traders.  ). Very evident in the closing couple of hours this week.
Another benefit in these is as a basis for beginning my 'Touch' trades. If the level I want to 'touch enter' lines up with a pivot exactly , I'm in. The chances of an over shoot are minimal. Draw downs kept VERY minimal. Combined with Breakout-pullback trades, as an example, these are killer trades for me. Have to wait a while between them though.
So for me, YES, they are quite useful in forex. 
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Last edited by bundyraider, Mar 28, 2010 7:33am
Reason: Added quite a bit.
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Mar 28, 2010 7:08am
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'Try-hard' extraordinaire...
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Quote:
Originally Posted by bapxyz
Now that's funny, and useful. Can the powers that be add the "CoC" term to the acronyms used in this thread ? 
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LOL
"Geez (insert newcomer's username), that bar is just too close to a major CoC. I wouldn't take it."
...yeah, no. Might not come out right. lol
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Mar 29, 2010 10:46pm
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'Try-hard' extraordinaire...
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Quote:
Originally Posted by joelcf
I think you need to zoom out and take the bars in context. Oh, and forget pennants/flags, because they are dodgy signals at best.
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WTF?!
Holy snappin' tootles!!! ...I better stop making money off them right now!
...before the universe collapses or some shit. 
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Mar 30, 2010 9:59am
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'Try-hard' extraordinaire...
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Quote:
Originally Posted by lovejoy80
I would like this too...the one I have 'repaints' it too and I'd like to do some analysis on reaction to pivots in the past etc.
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http://www.forexfactory.com/showthre...1095#post61095
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Mar 30, 2010 9:51pm
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'Try-hard' extraordinaire...
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Quote:
Originally Posted by Dan Gilbert
I don't even know one person who has started at 70k (midwest region)... in any field... More recently college grads have been getting jobs at starbucks after graduation just because the 100+resumes they sent out didn't even get a phone call.
But that's a whole nother story 
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If they only sent out resumes then that's their own fault.
Trust me. Our family runs a business and it's more often than not the person who walks in the door or phones in at the right time who gets the job.
And for a more qualified position DEFINITELY those who have been there face to face at the least.
...Not to mention the old "It's not what you know, but who.".
Quote:
Originally Posted by joelcf
Ouch. Although, having only just discovered Starbucks last week, I can safely say that you probably need a college degree to work out how much a damn coffee costs.
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I thought Starbucks pulled out of Australia? lol. Obviously not. 
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Apr 1, 2010 7:46am
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'Try-hard' extraordinaire...
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Quote:
Originally Posted by joelcf
I'm going to go ahead and assume - based on screenname and location - that your family runs Bundaberg Rum, and propose that *I* know you and therefore should get a job testing beverages for their potency.
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lol. The ol' "Queensland diesel". No. That'd be a little too convenient if it were the case. 
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Apr 5, 2010 12:15pm (8 hr ago)
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'Try-hard' extraordinaire...
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Quote:
Originally Posted by james16
3800
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Quote:
Originally Posted by james16
3800
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Quote:
Originally Posted by james16
3800
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Originally Posted by james16
3800
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Originally Posted by james16
3800
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Quote:
Originally Posted by james16
Closing in on 4000 pages and 60,000 posts.
Hard to believe.
Thanks to all of you, old and new.
Jim
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...Alright.... Where is he? 
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