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james16 Chart Thread
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Sep 28, 2010 11:23pm
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Quote:
Originally Posted by spookie94
got a loss on this one too. I noticed that a few people closed with a small gain on the short side then a little larger on the long. Do you ever play both sides once one side is triggered? Or do you normally close the other right away?
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Inside bars show indecision and that minor hesitance, not sure if the trader has to do the same though. If you look at these in "context" (space, trend, location) normally you will be inclined to just taking them on one end.
just how I play them
g.
__________________
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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Sep 29, 2010 1:45am
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Quote:
Originally Posted by The Lord
Attachment 551833
Hit the FTA and my TP. I think it is going to fall very low once this zone breaks. There should be more short opportunities in the coming days.
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Nice!
Love the way you are not "after pips" and that's a BIG advantage.
keep goin'
g.
__________________
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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Sep 29, 2010 1:58am
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Quote:
Originally Posted by antgal23
Hi folks
My PA trend continuation trade hit at 1.3515
Got my SL to 1.3490 in case of retrace to BRN
Up 60 odd pips with TP at 1.3960
The qns I have (for some of the seniors) with this trade are
1. Do I increase my position after the retrace?
2. Is my TP1 a reasonable expectation?
3. I have a $5000 demo a/c with a risk of 2%. With 60pips up its only $35 profit, is this normal for a $5k a/c?
Thanks
Anthony
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Hey Anthony,
Ans1) Up to you and your discretion my friend. If price retraces within the current BUOB and holds at the 2 bar highs then it is a strong indication that it will look to continue with it's way up, whether it's good for adding some more to your trade is something you would know better (from past experience if any, and your personal risk appetite etc)
Ans2) Ummm...a little too ambitious, in my book. Quite honestly that isn't what you would call a "first obvious trouble area". 1.36 (price is currently testing it) 1.37 and 1.38 will have to be watched out for. Nothing wrong with keeping your TP at 13960 though provided you are not overlooking all the other important areas in between.
Ans3) $35 on a $5000 account is like 0.7% Think of 0.7% on a $50,000 account. That's $350 for a 60 pip move. On a $500,000 account it comes to $3500!  James talks about this all the time. Trading with a big sized account can be highly rewarding and different to trading a $5000 account.
g.
__________________
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, Sep 29, 2010 2:10am
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Sep 29, 2010 8:09am
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Quote:
Originally Posted by tehuringa
Just a quick check in to say to all my J16 bro's....I hope everyone is well 
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Dave! 
__________________
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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Sep 29, 2010 1:45pm
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Quote:
Originally Posted by tubguy
Hey all,
just wondering how this rates on the Ghous Inverted Pin scale.
This is only the second one I've traded.
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Quite frankly I won't grade that at all.
I see nothing behind that bar. Price is headed straight for 132 (and beyond...it seems) and that creates that "near PPZ effect" rather than the "On PPZ effect" that I talk about very often with IPBs specially. You have to understand, IPBs can be an aggressive style of play because we go in with ultra tight stops, in fact I'll second jarroo who thinks it's just one step before touch trading so you have to learn to be extremely picky with these bars and nail down your locations literally to the pip.
But then again it's only your second IPB trade, just hang in there and keep learning from your mistakes.
All the best T.
g.
__________________
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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Oct 1, 2010 9:14am
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Quote:
Originally Posted by geomink
a) USD/CHF > BUOB Daily at a swing low > Retracement > Entered long > Fast loss by now;
b) GBP/USD > BEOB Daily at a swing high > Retracement > Entered short > Fast loss by now
What's wrong?
Many Thanks
Best trading to all
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Neither broke...so technically you shouldn't be in either of those trades.
Remember...a PA bar only looks like a PA bar until it's validated bu virtue of a break of the low/high of the bar itself.
Besides...
GBP/USD failed to close below 1.57...I can't even emphasize enough how important the close of a PA bar is specially when you're talking about immediate traffic. Notice all the bar highs that found resistance at 1.57 before price broke up. That difference between the low and the close of the beob speaks for itself when it comes to the "strength and muscle" analysis of the bar.
USD/CHF was more a BUOB by definition than anything else. We've been in a smooth down trend since June, and you need a really strong PA bar to be going against all those bearish achievements. Mike put's all this really simply when he talks about "the pa bar vs the trend". Notice all the BEBs and BEOBs that mark a good part of the entire move down. Do you notice how almost all of them exceed the size of the BUOB?
It takes some time and practice to get things going, but when the pieces fall into place and begin to form the correct picture it becomes "silly easy" - to commend the big man himself.
g.
__________________
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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Oct 3, 2010 6:01am
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Quote:
Originally Posted by cprao
Is this bearish daily bar at swing high IPB ?
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It is...but pretty insignificant if you're looking at it as a trading opportunity. Far too small (IMHO) vs a decent move up. Notice also that it wasn't exactly "off" the BRN was it? I mean clearly to me it's more of a bar that is indicating a pull back to the 1.4 after that close above the level.
This is not the first time I've said it...but a price bar even a J16 one is a single page of a thick interesting, thrilling and exciting novel. No matter how attractive the text on the page looks it has little value to offer if you read it in isolation to the text on the many pages before and after it.
g.
__________________
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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Oct 3, 2010 6:03am
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Quote:
Originally Posted by xmzhang
Adidas weekly, short play to RNB,PPZ @ 4400, tight stop few pips above RNB @ 4600.
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Not to be a party spolier, but it makes me wonder why indecision alone should be enough a signal to go short?
g.
__________________
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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Oct 3, 2010 1:32pm
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Quote:
Originally Posted by cprao
Ok. Noted.
What do you mean here ? It is off of the 1.4000 BRN and stopped below 1.4100 BRN.
That's what it did.
Yes. I did read similar comments about reading the price actions (before and after) as a whole book rather than a single page (specific to one bar).
I am realizing that this is the toughest part which comes with experience.
When I noticed the bar, Yes, I did see the uptrend with couple of big vertical bars .. coming from 1.25 (retraced to 1.30 when reached to 1.37)....
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When we refer to a setup as being "off a round number" in terms of location and confluence it basically implies that we are wanting to use the logical supp/res at and around the level to our advantage, that is we have the added edge of having a well protected stop.
It is hence important that a PA bar may it be an IPB or a regular PB or an outside bar - it has to be off a round number and/or ppz in a way that it protects your stop well rather than just "occur" at it.
The EUR/CAD IPB closed above the 1.4 and the bar did "occur" at the 1.4 though obviously that isn't contributing in a positive way to your trade management/entry/exit decisions. In fact, since price closed above 1.4 one can not be surprised if price finds support at the RN and bounces off to take you out - so in reality the close being above the 1.4 is a negative that outweighs the blunt advantage of "being at the 1.4 either ways"
g.
__________________
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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Oct 3, 2010 1:36pm
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Quote:
Originally Posted by melvin87
Hi Ghous,
I was also looking at this pair. But my thoughts were to put a sell order at around 1.3990 (below the 1.4) so that if price breaks below the 1.4, it should hit the FTA of about 1.3940 for a quick profit of 50 pips. Any comments on this?
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A more logical thing to do IMHO...
g.
__________________
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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Oct 3, 2010 1:39pm
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Quote:
Originally Posted by xmzhang
Well lemme explain a little more in detail, in the attachement you'll see Adidas reaching the RNB @ 4600 in may 2009 via a bullish bar with a lot of momentum, but the week after that this bullish momentum completely dissipated via a indecision bar and price entered into a consolidation zone rougly between the RNB's 4400 & 4600. The question was then are we going higher than 4600 or are we going lower than 4400, during this period the difference between supply and demand is at a minimum. Then mid june 2009 price breaks rapidly out of the consolidation...
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Interesting,
I do play indecision bars (occasionally) myself but that's when they point towards the continuation of a strong trend and occur on weak pull backs. Wanted to know your thought process when playing them at swings and genuinely against the current.
Thank you.
g.
__________________
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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Oct 4, 2010 12:34pm
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Quote:
Originally Posted by PrincoPrinco
Quick question g.
Do you trade IPB's on TF's shorter than daily?
Thnx.
PP
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On 4H and 1H yes.
g.
__________________
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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