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  #37489  
Old Jul 15, 2009 11:21am
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Quote:
Originally Posted by Slurpee View Post
So you don't you a trailling stop, you move your SL by hand? According to S/R areas on the way?
yes, I don't believe in those "X" number of pips trailing stops.

I move them manually as price breaks through supp/res levels.

Ghous.
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  #37503  
Old Jul 15, 2009 12:38pm
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Originally Posted by PippingMama View Post
Hi Ghous, Racz and others,


Do you guys put a blind trade sell order at 1.41 for the EURO, it is 61.8% retrace of the big fall from and important ppz and round number. 1.4341 and 1.3750, also other fib confluence at this location.

Just curious how you guys be confident putting a blind sell order at 1.41 without any PA occurs?


Thanks!

Pipping
Hi PM,

I am no where near Mark in any sense,

But my blind entries look for long tails most of the time. Which means I don't take first touch trades frequently (unless it is really obvious) 1.41 is a good area yes. What I would like is a 4H bar that touches 1.41 and then close well below it. A blind trade will then target the test of this high which is a lot more safe and PA backed...it's important for somebody like me who 1) is ill experienced at the art, 2) don't use fundi's as an added edge.

Example:

Eu chart appended. look at the twin bar highs highlighted (2). These are near the 1.41 round number some time back. Notice how the first 4H bar tests a previous distinct bar high (1) and then closes below 1.41, the next bar goes up to test this high (by the pip is a rare rare case) this is where a blind trade get's triggered. Bind because I didn't wait for an inside, outside or a pin bar but somehow still PA backed...

("Tails"...are one of my recent research projects. )

Some other ways I trade my blind entries are breakouts and retests and double tops double bottoms etc, but they are not relevant for now.

Rac will pool in with a diff school of thought, his crystal ball is his only. lol!

Regards,
Ghous.
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  #37606  
Old Jul 15, 2009 9:43pm
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Quote:
Originally Posted by Bemac View Post
Due to lack of response, my current conclusion = Perhaps not.

On the other hand, ghous has made No response since I posted this offer. perhaps, he is sleeping.
Yeah I was asleep. Need to hit the gym early in the morning so a good night's sleep is important.

I don't use a %age risk trail stop either just the conventional manual trail stop ensuring that it does not violate my MM constraints.


Quote:
Originally Posted by Bemac View Post
A Past Blast....

[color=Blue][i]Hi folks,
As some of you know I have, only recently, moved to a MetaTrader Platform.

Therefore, I am now without a few of the Tools I used to carry in my toolbox. {funny how learning a different language can, sometimes, make you feel lost.}

This is not something that you would be likely to use on a Scalping Method but moreso on one of those Trades that take off & you are up 50P before you know it.

Here's how it works. Let's use a Long Trade as an example.

I Buy EUR/USD @ 1.3500 & before I know it I'm UP 50P.
Q)...
uh...oh...

I see why you were in such a hurry to get a response from me. lol!

This needs to be tried out...

Thanks Bmac.

Regards,
Ghous.
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  #37615  
Old Jul 15, 2009 10:47pm
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Originally Posted by jarroo View Post
Hey ghous, do you see a 2 Doji side by side on the Gbp/Jpy 4 hour chart? You gotta like the location of confluences at the 155.00.
Yup surely! Great location just like you pointed out...nice quick release of the spring too...
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  #37616  
Old Jul 15, 2009 10:48pm
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Originally Posted by jarroo View Post
Ghous: "Yes jarroo, that's the same formations I was illustrating on the Eur/Cad. Now, notice that they were on the Weekly time frame so their strength and responsiveness will be better reflected. We all know how you feel about higher time frames jarroo."

jarroo: "Thanks ghous. Your the best."
...
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  #37620  
Old Jul 15, 2009 10:54pm
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Quote:
Originally Posted by Bemac View Post
Wow dudes;
De ja ja vu vu...
Anyone know of a good language converter software/website...



Classic Bmac.
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  #37623  
Old Jul 15, 2009 11:36pm
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Originally Posted by joelcf View Post

Van Tharp can only dream of teaching money management as well as Fijitrader does in his section on the pf. Highly recommended*
Well said Joel,

Jim's got himself some star traders for teachers at the pf...and that's a simple fact.
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  #37642  
Old Jul 16, 2009 12:32am
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Quote:
Originally Posted by supremeChaos View Post
it always feels a little DIBS-y to me, when i see charts like this.
I think jarroo & or Bemac can relate.
never been at the DIBS as such so can't say...
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  #37644  
Old Jul 16, 2009 12:35am
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Quote:
Originally Posted by jarroo View Post
He's one Jim.

#1. bullishPB to top of consolidation.

#2. BEOB to bottom of consolidation.

#3. Bullish PB to top of consolidation, if it broke. (darn it.)

Wanting more pips then beyond the "Top" and Bottom" targets without protecting yourself is suicide.
hehe, James has got himself a lot of hands.

personally i like to play these consolidation battle fields on lower time frames over the mini trends. It's easier and the profit/pips potential is roughly the same (talking strictly of choppy sideways markets on daily and above) except that it requires more experience of coarse.
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  #37652  
Old Jul 16, 2009 12:42am
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Originally Posted by ghous View Post
hehe, James has got himself a lot of hands.

personally i like to play these consolidation battle fields on lower time frames over the mini trends. It's easier and the profit/pips potential is roughly the same (talking strictly of choppy sideways markets on daily and above) except that it requires more experience of coarse.
For example...

The same Gu daily consolidation zone Jarroo pointed out...consists of many lower time frame trends, it get's easier to spot and play the old timers.
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  #37654  
Old Jul 16, 2009 12:43am
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Quote:
Originally Posted by supremeChaos View Post
... that was quick ,jarroo.
i was about to post the exact same gbp$ consolidation as it was very recent.
anyway, here was my related post on that:
Never mind Chaos, jarroo already ran away with the early morning worm

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  #37656  
Old Jul 16, 2009 12:45am
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Quote:
Originally Posted by Bemac View Post
I want to jump on this one before James does cause I know this post will be minimized by his response.

PA Does Not Measure Technical Analysis! It Measures Market Player Sentiment. REAL Time.

bow out and exit stage left... running all the way...
Can I have that for my Sig Bemac, plzzzz...

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  #37731  
Old Jul 16, 2009 11:10am
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Quote:
Originally Posted by maheshbohir View Post
First trade
Hi Mahesh,

Congrats on your first trade,

Just as a brotherly advice try looking for the really good ones for the first few months you're at it. The ones with that are real big compared to the bars beside them and have long distinct noses pointing away from the vicinity of PA, the stand out ones.

This is important because earlier on you need to build your confidence and start believing in these bars, reading is one thing experiencing it live is another, and this can be done only when you can prove to be consistently good with these. Since you don't have the experience needed to tackle such moderate PA bars it is strictly recommended that you stick to the obvious setups,

swing highs/lows, heavy confluence zones, deep pull backs in a established trend, all can be great locations to tradet good pin bars.

Let us know if we can assist you further,

Regards,
Ghous.
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  #37732  
Old Jul 16, 2009 11:12am
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Quote:
Originally Posted by maheshbohir View Post
Just curious about it.
If you're talking abt pin bar retracments, no this is not.

I've attatched a chart illustarting how we look at this "Pin bar retracment" phenomena.

Clearly the phrase refers to price movement within the range (high and low) of the pin bar.

Regards,
Ghous.
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  #37825  
Old Jul 17, 2009 12:45am
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Quote:
Originally Posted by PippingMama View Post
Hello Ghous,

Is it this the nice IPB that we should look for?

I found so many pairs have formed the IPB today, most of the Yen pairs.

Do you think it is tradable? I want to get in but too late since I do not have too much confidence on the IPB yet.

Pippingmama
Hi PM,

Sorry for the late reply, I am asleep (Mike's only 1 ) during the Asian sessions.

Most of these IPBs are at good locations but I don't like the shapes, they are way too small, for them to be powerful you need them long and authoritative.

But a good break below the close of these bearish IPBs confirm their validity.

It's good that you did not trigger any trades despite the temptation. Practice them on your demo till you get good with them PM...an advice not uncommon.

Regards,
Ghous.
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  #37831  
Old Jul 17, 2009 1:40am
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Quote:
Originally Posted by g_j_hook@yah View Post
hey tac mate, i feel you were a bit defensive with your responce to eswapO's posts. they were trying to help. the only point they were trying to make is that the point at which you have used for the second touch for ur TL is not a good. think about it price nust keep falling to make that TL valid. the fact you were talking about it as a confluence gave us reason to be concerned as it wouldnt be.(untill price dropped AT LEAST and for me a third reaction to validate the line.) just dont want you to waste any money old bean,
good luck
jon
p.s....
Hear HEAR!

It's the TL guy...

Good job Jon.
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  #37833  
Old Jul 17, 2009 1:54am
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Quote:
Originally Posted by g_j_hook@yah View Post
ohho!! stop right there sir ghous!!
i know nothing! just pointing out the obvious mate. wouldnt want to see cash thrown away.
jon
p.s. u are up early arnt u!! ahhh the energy of youth!! lol
pps. thats actually my name...Guy ! haha
lol!

It's 10:53 am here bro, I am fortunate enough to see the sun during the Ny and London session and have the liberty to sleep through the boring Asian sessions (night time here in Pakistan).

Ghous.
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  #37843  
Old Jul 17, 2009 4:20am
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Quote:
Originally Posted by tac View Post
Not defensive just trying to help people, trendlines are drawn on 2 or more touches, like you have drawn in your chart. The trendline I drew is hit 4-5 times by daily bars, maybe not fractals. I wouldn't trade based on just that I also mentioned the round number then 2 fibs levels from different swings. I would call that confluence.

Hope that helps you. Good trading.

Tac
Jon's right Tac,

The trend line you drew was just not valid.

trend lines are drawn on more than 2 touches not 2 or more touches.

It is pretty ok to be wrong at times, after all we're all here to correct and be corrected.
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  #37845  
Old Jul 17, 2009 4:31am
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Quote:
Originally Posted by mbqb11 View Post
for what it is worth. James does not even use trendlines. Just horizontal support and resistance. I only personally use Extremely clear trendlines for breakouts.


Mike
yes,

It's funny how they can mislead, specially when drawn on the higher time frames. You mis draw them by a millimeter and it turns out you miss an entire breakout and retest trade on the 4h because all the time price was above your trend line.

They work best when like Mike said they are obvious to the pip.

Ghous.
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  #37848  
Old Jul 17, 2009 4:40am
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Originally Posted by tac View Post
I agree and with Mt4 they kinda move around when you switch time frames. PPZ's especially and round numbers are much easier to see and everyone can see them. As you and Mike say only the obvious trendlines just so you can be aware of them, not necessarily using them to trade off.
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  #37849  
Old Jul 17, 2009 5:08am
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Default Blind trade...

Eur/Aud:

3rd touch of the 1765 ppz.

Not a completely blind folded trade though, the trigger was a 1h indecision bar.

AND NO THIS IS NOT A 1H PIN BAR TRADE.

Just scalping around pure (not necessarily textbook) PA.

First lot's off at 50 points (half off the position) rest at BE in hopes of hitting 17540

Ghous.
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  #37856  
Old Jul 17, 2009 6:56am
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Quote:
Originally Posted by goodtiding5 View Post
There is a hanging man (Ghous' IPB) formation on the daily NZD/USD. Notice that it's right below the rising trendline. It feels bearish.

Short from 4HR inside bar on the top PPZ.

Ken
Yup!

One of the better looking IPBs.
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  #37858  
Old Jul 17, 2009 7:01am
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Quote:
Originally Posted by supremeChaos View Post
Ghous,
Nice range trade 'scalp'.
knowing correct & strong PPZs & S/Rs helps even in times of consolidation/range.
Leave a few positions for a possible range break towards
+/- 0.72 - 0.74 area
A range breakout will be treated with respect.

A new order on a retest of 1.754 if this level breaks.
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  #37932  
Old Jul 19, 2009 3:56am
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Quote:
Originally Posted by bakko85 View Post
I took this one too Ghous IPB rules
Do you think it could go down more than the nose of the IPB?
Hey Bakko, yeah it sure could happen, these can work as good reversal bars too...

The more active trading sessions on Monday will narrate the story

Regards,
Ghous.
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  #37934  
Old Jul 19, 2009 4:00am
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Quote:
Originally Posted by arcus View Post
Hi ghous,

I had Q(s) about this kind of trading style. Do you still take the trigger bar (the indecision bar, IPB) if it high is lower than the previous bar or in other word, it formed inside the previous bar given it formed in good PPZ with confluences.

Thanks bud.
Yup any PA bar could have worked on a location this great...

Again the PA bars are less important than the location over which they occur.

So although my trigger was merely just an indecision bar the great location gave it the weight worthy of a trade.

Ghous.
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  #37935  
Old Jul 19, 2009 4:28am
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Quote:
Originally Posted by forexngo View Post
Hey Ghous and experienced fellows.

Is it the nice IPBs & be expecting to go up...or it will breaks the lower trendline soon? Since i see it closed below the nice round number of 2.040 and seems ....the end of inversed flag pattern...and start to breakout?
How you guys for your pro. analysis!
Thank you
forexngo
Hi Fxngo,

The evidence of a ppz is clear and the IPB seems to have formed on the 50 fib too. however PA on this pair recently has been very choppy with lot's of whippy tails around and the IPB leaving a good southern tail gives more of an indecision kind of look than a solid bullish signal.

Won't call it a "no trade" though but not in the A+ zone for sure...

Regards,
Ghous.
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  #37970  
Old Jul 19, 2009 11:55am
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Quote:
Originally Posted by tac View Post
Ill be trading the daily charts for the next 3 months (at least)....
Firstly none of the approaches are wrong.

They say 'The path to successful forex trading is indeed a lonely one'

The answer to most of your questions lie within you.

I personally Like and use the 2nd approach. It's a good way to keep you trim and tidy of which I am a big fan, but again that's just me and you could be different.

I see it in your sig...'I do it and I understand'...a great advice! Just follow it Bro,

The best way to find the answer to your question is to try both of these and see which suits you.

Regards,
Ghous.
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  #37976  
Old Jul 19, 2009 12:52pm
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Quote:
Originally Posted by forexngo View Post
Hey Ghous,

Finding your chart is so nice & clear..so i am aping setting up my chart to yours
In my chart..i see the IPB is better that not much choppy with whippy tails. And i found the weekly support and 50% fibo, plus trendline...as a strong confluence. But what i am confusing is that the price now is completed F Wave of Inversed Flag Pattern...so it may break at this point?

i am finding this J16 method is the great and sticking to play this price of action as the best method...but, to be honest...i am still confusing on how...
I see what you're talking abt,

Firstly we're not dealing with a holy grail...

Get this straight as an arrow...no space for any variables or exceptions of any degree sort or class...just a flat simple fact.

So when you cannot expect to win 100% of the times, and losses are inevitable, it's always a good idea to greet them well and learn to accommodate them amongst your winners that make you proud.

All that you've got to do is to clearly outline the confluence sources, and trade good obvious locations and PA bars most conservatively i.e with a stop loss above/below the PA bar and let price do it's thing...

Abt the "huge" stop loss thing....it stops worrying you when you stop looking at it as a 150 pip stop. If the 150 pips make up 2-3% of your account and you look at it like this would you still worry?

Just focus on good bars at good locations concentrating your efforts on higher time frames, fill up any gap left with good sensible money management and you're on your way.

PS try to keep your studies based strictly off Price Action and support and resistance. Price patterns and wave formations are both entire methods on their own and you're probably stretching it a little too much by trying to include these in your analysis, not putting a question mark on these methods but keeping it simple...as simple as possible for at least the first few months is a paramount factor to your long term success with this method.

All the best Bro,

Regards,
Ghous.
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Last edited by ghous, Jul 19, 2009 1:07pm
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  #37978  
Old Jul 19, 2009 12:56pm
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Quote:
Originally Posted by g_j_hook@yah View Post
hey Ghous, wot do you think about these 2 ghous bars on the eu/yen??

cheers
jon
Was abt to post that as a potential setup Jon,

Looks good with all the supporting confluences

Cj is another beautiful sight.

Regards,
Ghous.
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  #37979  
Old Jul 19, 2009 1:00pm
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Quote:
Originally Posted by albchr View Post
OK, let me ask before Ghous answers. See this is a perfect example of what I meant by being mystified about these bars.

Since both of them were unable to break (close) the previous bar, and with everything else you mentioned, this would be a shot at a short? Or because buyers were able to push them back up after a series of bullish climbs in previous days, a long? My thinking is this is a nice retrace and a shot at going short.

Geezzz SO much to learn....
I am looking at it as a short for sure.

This is just like dealing with a 2 bar pin bar or any other PA bar. so when a pin bar occurs after a pin bar it is only considered a 2 bar pin bar and does not loose it's authenticity, same goes for an IPB.

@TAC

IPB would be an inverted pin bar not an inside pin bar.

Regards,
Ghous.
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  #37980  
Old Jul 19, 2009 1:05pm
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Quote:
Originally Posted by pipmax View Post
We have this Daily IPB on NZD/USD.
If the Price breaches the 0,6400 and the low of the IPB we have a good signal to short the pair.

On H4 we have a fine PB that confirmed the IBP on the Daily, but don?t enter at the break low of this PB because it?s above the 0,6400and the 61.8 Fib.
Wait and be patiently for the break of the level and the low of the Daily IPB.

Hope i anlayze this correctly, we?ll see.

It?s only my view .


Trade well

Martin
Honestly I was hoping to see 0.64 but this last Friday turned out to be just another Friday at the office.

Let's see what Monday and the week/s ahead bring...

Regards,
Ghous.
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  #37985  
Old Jul 19, 2009 2:03pm
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Quote:
Originally Posted by mbqb11 View Post
...tighten up the screws on this bad boy
Best
Mike
Thanks Bundy,

You brought Mike back on track.

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  #38007  
Old Jul 19, 2009 11:30pm
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Hate these early Monday mornings...

Price just seems to flow through a vacuum.

Failed IPBs on all yen crosses.

One reason I never take any trades early on a Monday except on the weekly, where your stops can accommodate this early buffoonery...

Ghous.
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  #38011  
Old Jul 19, 2009 11:48pm
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Quote:
Originally Posted by Lou View Post
Isn't it a bank holiday in Japan? That might be a consideration.
Is it?

lol!
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  #38032  
Old Jul 20, 2009 6:57am
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Quote:
Originally Posted by Bones View Post
Well I thought that lower wick may have brought it down a bit further even tho I was thinking $ down.
The upper wick which made the pattern defective is when seen on a hanging man buying ....
Hey Bones.

Good to see you.

You gotta great kid.

Ghous.
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  #38041  
Old Jul 20, 2009 7:40am
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Quote:
Originally Posted by kk007 View Post
Thanks tac, If I do what you said, there is another PPZ worry me. Am I too conservative?
Not a lot was going against that bar...which is why James called it a "very nice pin bar"

The shape and the location was all great...

The underlying ppz/s was the only worry, and yes if you're super conservative "and new" you would probably skip that, but anybody who's been doing this stuff for quite some time now would know that the underlying ppz (which BTW was not immediately in the way) was no way a reason to give up on the setup "Given that all the other factors were so damn strong"

For your first few months you focus on perfect pin bars that have everything right abt them, as you grow older and more experienced you understand when a little "lineancy" can be provided to "certain" setups.

So a new trader would skip that altogether

And a more experienced campaigner would go for it but "manage it tight"...which his experience would have taught him well.

Regards,
Ghous.
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  #38042  
Old Jul 20, 2009 7:41am
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Quote:
Originally Posted by Bones View Post
Hi Ghous ,thanks he’s my 3rd a real joy...good also for me to witness your continued development here and willingness to help others...
Wish you many more!

err...Or rather not?

lol
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  #38048  
Old Jul 20, 2009 8:03am
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Quote:
Originally Posted by kk007 View Post
Thanks a lot Ghous,

This is important:

"but anybody who's been doing this stuff for quite some time now would know that the underlying ppz (which BTW was not immediately in the way) was no way a reason to give up on the setup "Given that all the other factors were so damn strong"

That is something I want to dig into to understand. I know you are quite experienced. Would you mind elaborate this a bit? What/Why is it "damn strong"?

kk
Right first of all I am not as experienced as many others here.

But what I can advise you to do is to let this thing come naturally to you.

I'll tell you what I did when I was new. Jarroo helped me blow up quite a few demo accounts and more importantly I blew my confidence in the method, The great man probably doesn't even know about it nor do most of you here.

I would see his charts, admire his abilities on taking less than A+ setups and how he would ride on $'s back with these mediocre PA setups...

This is what I thought..."When Jim can do it so can I"

Got myself a demo account and started thinking like "jarroo" probably would...instead of focusing on hitting a few good trades a month I started to actually look for less than A+ setups (without any initial intentions of doing so, just a detrimental "carry away") and guess what 2 months later I found myself exactly where I began...or rather a few miles behind where I started in that I had lost the confidence I had begun with...

The point I am trying to make is, the more you deviate from what your'e supposed to be doing depending on the level you're on the more time and confidence (and possibly money) you waste.

Trust me on this kk this it will come to you. Just focus on the three prime factors for now...

1) Shape
2) location
3) space

As you start pouring setups into these three moulds you'll see how with time you can set off with that "AHA" feeling while very few on the thread will even consider the setup in the A catagory.

Just Jog along your learning curve,
Because you can see your destination ahead you must not get carried away and attempt to try and run into your goal. Let the goal come to you.

I am no where near where i want to be but the "little" traveling has taught me so much I would rather be shot dead than try and speed up the learning process.

Just sayin...

PS abt your question on "Why so damn strong" I guess Peter explained it better than I could ever have...

Ghous.
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  #38235  
Old Jul 21, 2009 12:51pm
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Hallo folks

is this a good setup???

On H4 we got a nice PB on the 1,4200 for a short entry.
On the D1 maybe got also a little PB
IMHO one of the few setups you could wait for months really.

Swing high, 142, authoritative appearance.

an A+ BEOB in my book.

Possible destinations marked...
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  #38238  
Old Jul 21, 2009 12:54pm
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Default Usd/Cad trade update...

Could this 4h buob spark the exit of the trade...

time will tell...

Ghous.
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  #38239  
Old Jul 21, 2009 12:59pm
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hey ghous just saw your thread what happened ?
From Pakistan too?

Greetings SIR! (Was wondering when I would meet a neighbor here in this thread. )

Abt my journal...

I decided to abort the activity because I was no where near the challenging consistency that the task requires. (Was pretty new to my trading system back then)

Will be starting a similar journal activity in a few month from now when I am done proving my potential to myself.

Cheers,

And drop in often sir,

Ghous.
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  #38244  
Old Jul 21, 2009 1:08pm
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Oh it is a BEOB i think this was a PB but you are right it is a bearish outbreak.


There is something strange going on, at all JPY Pairs H4 (GJ, UJ, AUJ) we have a strong BEOB, i don?t know if the are good entrys????
Relax,

just take your time in sorting out the best ones, with the most confluences and those that have ample space and look great, all of them will not be unavoidable I promise.
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  #38248  
Old Jul 21, 2009 1:16pm
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IMHO one of the few setups you could wait for months really.

Swing high, 142, authoritative appearance.

an A+ BEOB in my book.

Possible destinations marked...
Was that a break or what??

I actually missed the entry altogether While responding to a pm.

lol

Great bars...great places...great trades,

...

just pulled in a pending order to see if any remains of bulls can take price back to the BEOB break point before going beyond 20 pips from the beob break (after I which as per my rules I pull of my order)...God I hate to chase.

Ghous.
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  #38253  
Old Jul 21, 2009 1:35pm
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Looks good it?ll come back.
What is your first target??
I like to lock in some very quickly at the first res/supp so it would be the highs around 14150...
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  #38257  
Old Jul 21, 2009 1:46pm
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Originally Posted by nasir.khan View Post
Ok now i get the feeling for this thread i tried twice before but did not had the patience to go through the whole thread also people's in other threads mentioning the pin bars as well. I was looking for ghous came here and saw his chart.
actually i trade Philip's 4H macd and use those Boxes for support/resistance but now fell more good about them.
That man runs one heck of a system, I've seen you there Bro,

Just stay around, I would advise you to at least go through the first 100 pages or so if not the whole thread to get a fair idea of what we do and how, then just stay on the current pages to get an understanding of how different setups are dealt with and they can differ from person to person.

I guess this will soon have to be the advice to all newbies...this thread's running out of hands of newbies fast!

Ghous.
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  #38260  
Old Jul 21, 2009 2:04pm
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But he did left the thread some months ago. I will try get around but have got developed feel for 4h MACD even i traded it on 1h successfully and i am about to go live in few days so i can't change the "whole thing".

Thank's.

I'll be off now since light is about to "GO".
That's what great abt adopting J16 ways...

You never ever need to change your system,

J16 can help you add a catalyst to the success rate that's all. i.e adding PA teachings to any system can be superbly beneficial, Since I know Nel's system I can tell you this stuff here could help you put the icing on the cake,

You must already be familiar with side to side supp/res levels and the basic workings of price movement, Phillip did a great job explaining that on his thread...


Quote:
I'll be off now since light is about to "GO"
Lol! Tht's got to be my biggest worry when taking trades specially intraday trades...lol

third world country stuff bro, I am pretty used to it.

Ghous.
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  #38261  
Old Jul 21, 2009 2:07pm
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Thanks Ghous, i think the same.
Do you close your short and go long now on the UC? For me there?s a nice PB at 1.1000 with a lot of space at the left side and a divergence to the MACD.
I have my SL at 1140 and I'll leave it there, the buob is headed straight into it so it might not even make it through the resistance around this level...

No plans of going long...12 midnight here I'll skip it...

Ghous.
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  #38336  
Old Jul 22, 2009 4:46am
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tac,
good, long-standing threads have good, long-standing guards....
WE all are & on stand-by....
Haha! Sure...



If only I could do that alone for a 100 years from now to pay back maybe 1% of what James ad other seniors here have given me up till today.

Ghous.
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  #38343  
Old Jul 22, 2009 5:27am
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Another BEOB knocking on the 84 level... Just closed. Would allow for much smaller stop if that is what you're in to...but why did it bounce off 84 again
they along with some $ crosses are struggling for momentum...still...
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  #38346  
Old Jul 22, 2009 5:38am
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Originally Posted by nasir.khan View Post
I entered long in GU. Entery was based on 1h.

I am anticipating this sHs.
When did forex.com go mt4?

Anyways looks good Nasir,

except that I don't see you waiting for the break of the IB?

Ghous.
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  #38353  
Old Jul 22, 2009 5:50am
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Originally Posted by nasir.khan View Post
Hmmmmp IB
1- IB would break at 1.6412 and my target is 1.6435

2- I actually would like to trade against the IB rather than trading brake.
there is no for and against with an IB Nasir,

You can play it either ways long or short.

and Both ways we give special importance to the break, so for a lon like in your case your order (pending) should have been 5 pips (it's the hourly chart) from the high of the Ib.

(for a short your sell pending order should have rested 5 pips below the low of the IB)

What else can I say...waiting for the break of a PA bar setup is probably the most important aspect of trading successfully with this method.

Maybe you just used the IB as an additional confirmation to your 4H Nel's macd signal in which case the trade is probably ok then...but then it won't be a J16 trade though.



Ghous.
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  #38358  
Old Jul 22, 2009 6:06am
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Originally Posted by nasir.khan View Post
But i think i reacted also take a look at this chart.

1- 50% retracment
2- 89 SMA
3- Trendline.
No cheating allowed.

lol

Your fibs and trend lines need to be re drawn correctly after which they won't give you this "false confluence"

For a fib ret, you need to target a major swing high and a low.

The high was valid the low you used was not, the low you used was not a major, the one before it was and precisely where your fibs should have started.

Secondly for a valid trendline, price must not penetrate the trendline in a way that it closes beyond the trend line and carry on from there...

One of the trend lines you say come into confluence was invalidated twice after which it must loose all it's worth. (refer to the chart below)

Cheers.
Ghous.
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  #38361  
Old Jul 22, 2009 6:16am
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Originally Posted by nasir.khan View Post
Take a look at this and you will know how i like to use it.

http://www.forexfactory.com/showthread.php?t=163444
Ahhh I see...

It's got a nice "Dibbsy" touch to it...if you know what I mean



Ghous.
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  #38364  
Old Jul 22, 2009 6:21am
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ghous,
why so strict? lol
he seems to be using 'customized/hybrid' TLs/channels/Fib.

anyway, nasir.khan, if u haven't yet, u can check out aediaz's thread & posts, as well as belekas' posts for more on TLs etc.
Wait till Jon (Gj) reads that.
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  #38366  
Old Jul 22, 2009 6:27am
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Originally Posted by nasir.khan View Post
Hope he does'nt cause i am in the trade
lol, no worries...if it's something besides our traditional trend lines it could well be valid..



Ghous.
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  #38385  
Old Jul 22, 2009 9:43am
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Originally Posted by urchman View Post
my gu 4hr...hope enough players on this one.
PA at it's best eh?

Just goes on to show how important is the "space" element in trades you're willing to hold long term.

Should have been a fruitful scalp this one...

Ghous.
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  #38387  
Old Jul 22, 2009 10:22am
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Originally Posted by bakko85 View Post
I'm looking at these carefully. The shape of the pin of Gbp Usd is attractive, but location maybe is not so good, or not? Instead, i like more the UsdChf BUOB because it is forming at an important PPZ: if it closes above 1.07 i think i'll go long at the break of the bar (ranging market in the last days on this pair).
Not throwing your ideas aside Bakko but both have their mediocrities obvious.

Gu's a typical case of "conflicting signals" note that the bar before your bearish pin bar is a good looking bullish pin bar.

Confluences and all that are valid but when I see such a scenario I am straight away inclined towards the "skip it" kind of a mood. Price then has to do something really special like break in the right direction very quickly etc. to get me interested.

Look at it like this. The pin bar Urchman took was a good bullish Pin bar, which meant the bulls were in power but what then, price hits a ppz and gives a bearish pin bar, so the bears are in power...

For me it's that..."Uh it's the bulls, err...no wait..look at that pin it's the bears...short short short, uh damn silly me...what am I thinking I'll hold my long, till the bearish pb breaks, or..."

In short...when in doubt stay out.

If you still plan to play it watch for a quick break and you'll need an eagle's eye on the bullish pin bar low.

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

Usd/cad is another avg setup,

The location's fine and the round numbers all come in...

But worries me more than anything else is the ppz near 1.072. This might be very much tradable If the BUOB can hit the ppz and close beyond it with authority.

In these "tight" situations I always give a lot of importance to the close which has to be near it's high/low signaling the "current mood of price" to at least trouble the ppz in which case a potential trade has a slightly higher probability of winning.

All the best Bro.

EDIT: the BUOb closed more like an indescision bar, no trade had I been considering it.

Ghous.
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  #38401  
Old Jul 22, 2009 1:40pm
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Very nice explanation Ghous but one more thing, if you were in the trade or any other trade that has good looking PB and the next bar turned out to be an opposite PB, what would you do? I guess explaining...
On this particular scenario Yes I would have booked some off the yellow ppz and moved my stop to BE in which case my trade would never have seen the bearish pin bar but...

if you ignore the yellow ppz I would definitely have hung on, because then the bearish pb wouldn't have been off anything really and the best thing would be to hang on and at least wait for the bearish Pb to break,

So Arcus is right in what he assumed I would do.

Ghous.
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  #38402  
Old Jul 22, 2009 1:52pm
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Originally Posted by unlv_tj View Post
Anyone in/still in the BEOB trade on the EURUSD from yesterday (1 PM EST)?

It broke by just enough to trigger and has since basically retraced and stayed in the bottom half o the BEOB.

I did see the highs at 1.4150 level, and it has come down to touch 1.4155, but I felt for this trade to be worth while, it should break through this area strongly.

So far, it has been flat, and I am sticking to my guns on it.

Just curious if anyone else took the trade and if they were still in it.

EDIT *****

On the same time frame now a BUOB has formed....
It broke so hard I actually missed the entry at first and now...lol

The plan was to locate a good point for an SL which would be less than 3 figures. (100+ pip SL if i went the conventional way)

The idea has a catch which often goes unnoticed...you tend to get stopped out more often than when you deal with the conventional stop method.

For this particular trade the first thing that struck me was the 1.42 level and prior support evident from bar lows, at 12 midnight, I tucked the SL 25 pips above 1.42 and left for sleep,

Looks like it worked out well, but times when it doesn't are clear in my head. Trading is an art and not an exact science. You gotta find something that works for you "most" of the times.

Hang on in there Unlv,

If you take a loss on this one, it would be a genuine one IMHO. Look at it like money that belonged to the market, and you have no other way but to hand that back...like a trading tax or something

Anyways...

It's amazing how PA holds true no matter what! PA after beob bounced off 1.416 a minor ppz, we weren't expecting it to hold all that well is what took us by surprise...see the "tax" thing here Unlv.

You're doing good and you know it, just don't let these "out of the box" times set you off.

Ghous.
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  #38404  
Old Jul 22, 2009 2:11pm
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Originally Posted by unlv_tj View Post
I don't think it was a bad trade, I think it is just a loss you chalk up to the routine hems and haws of the market.
would you mind showing me your back Unlv,

I gotta give it a nice pat.
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  #38472  
Old Jul 22, 2009 11:24pm
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Originally Posted by johnnykanoo View Post
i did it all by myself and based on my own analysis which helped me to arrive at the thought of I don't want to "cheat" and just use others analysis. rather i would like to do my analysis,...
IMHO the winning approach,

This is what I would recommend to every newbie.

make sure you've done your mt4/platform homework on analyzing the pairs first up before you long on to the FF J16 thread. You could be a bit lenient in that you could edit your decisions/thoughts after you read diff view points here by different traders which you probably over looked or gave less attention to...and then as times passes you'll realize there are fewer times you have to change your thoughts to synchronize with the others at the thread (either because you're already in the same boat as most here or you're confident enough to believe in what you think is going to happen and no Mike or James or Jarroo can influence that)

putting up the J16 thread and reading all the views on it first and then proceeding to your mt4 to take a trade just because Jarroo is doing the same even when you agree on the validity of the trade can have detrimental effects on your long term success.

Thanks for bringing it up John and allowing others to learn...

Regards,
Ghous.
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  #38473  
Old Jul 22, 2009 11:25pm
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Originally Posted by raczekfx View Post
G....z

Putting J16ch thread in commercial bin is a 'low blow' on FF part.
It took me some time to find it again. I can't even see new j16 posts under 'Active Threads' .
Maybe it's just me...
Oh well, who cares, it will be new traders who will miss out.
Word 'commercial' was always big turn off for us.

Hope FF reconsiders.

happy trading.
R
Lol,

The topic's under a heavy debate.

We can only sit back and hope all turns out well...
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  #38502  
Old Jul 23, 2009 4:53am
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Originally Posted by jarroo View Post
This will close as a BUOB, but I'm looking for a bigger one. Gotta like the location. Maybe good for a hard break look.
Usd/Chf's a better sight.
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  #38504  
Old Jul 23, 2009 4:57am
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Usd/Chf's a better sight.
I am also looking at Eu with interest.
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  #38510  
Old Jul 23, 2009 5:18am
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Originally Posted by jarroo View Post
Which is at the top of the daily consolidation, with some bearish divergence.

I think your on to something ghous.
lol.
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  #38511  
Old Jul 23, 2009 5:20am
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Originally Posted by squeezy View Post
hey ghous,
also watching this, for some reason ill like to see an inside bar form in the next 4hrs before it triggers the buob
I wouldn't though...

I would like it to kiss the buob high good bye and hurry off to the moon.
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  #38517  
Old Jul 23, 2009 6:52am
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Originally Posted by squeezy View Post
hahahahaha, well me too was just watching the 8hr chart(theres also a buob on the 8hr) as well to try and clean up the mess to the left....lol
lets see how she plays out


( SL at BE, cannot let these come back and hurt me in any way)

Ghous.
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  #38518  
Old Jul 23, 2009 6:56am
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Default IPB trade

Aud/Jpy 1h,

Swing high along with massive bearish divergence.

Took some off the IPB low and the rest is at BE...

Ghous.
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  #38525  
Old Jul 23, 2009 7:45am
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Originally Posted by Jigsaw View Post
Where was your SL set there bro ?
77.45

Just above the bar high next to the IPB.

(the difference b/w my entry and the IPB high was just 5 odd pips, an SL above the IPB would have been too tight for a 1h IPB)

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  #38526  
Old Jul 23, 2009 7:53am
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Originally Posted by nasir.khan View Post
As i am looking at your chart i can see MACD if you are using it in any way why dont you try it like this. I am not luring you towards Indicators but when you will enter the trade you will have more peace of mind having taken a look.
I would not question the approach Nasir,

There are a lot more things that do work besides Nel's 4H macd, how abt adding them too? Or rather why should I exclude them?

Because changing a winning combination is more stupid than it sounds...

You might be using it as an additional source of confluence if you're comfortable with it but I along with several others here feel very strongly abt keeping it as simple as possible...

The less I go into additional tools besides PA and horizontal supp/res levels the better it get's for me...

Aqain not a hard and fast rule but something which works for me and may not do so for somebody else...and I am saying this because I have discovered myself over the years which is probably the best favor I ever did for myself.

All the best bro,

Ghous.
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  #38531  
Old Jul 23, 2009 8:15am
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Originally Posted by nasir.khan View Post
I expected that but it cleared some points also, thanks.

i got mixed up in two absolutely different system's.
And that can happen when you try to complicate things a little too much.

I would suggest you to extract the basics out of this thread and trade mainly the Phillip's system as I see you've spent some time with it.

Or if you really think it's worth it you could perhaps just use the 4h macd and some other elements from Nel's 4h system and find a way to implement them to a strategy based on the J16 stuff,

You cannot run both systems at full volume simultaneously...because both are pretty diff to each other.(the entries the technique everything) I say this because I've traded the 4h macd for a few months so I know...

Regards,
Ghous.
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  #38535  
Old Jul 23, 2009 11:09am
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Default career best...

A very long successful peregrination is abt to come to an end...

Gosh I am gonna miss these...

Easily my career best couple...

Ghous.
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  #38540  
Old Jul 23, 2009 11:38am
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Originally Posted by james16 View Post
IM SORRY ITS TIME.

if this is the beginning of the end for me here then so be it.

its been a great 5 year ride.

i love all of you and yes there are tears coming down my cheeks.

ok i will get out the voilin. lol.

chris was my friend. a good friend. i have no idea what happened. i have tried numerous times to find out.

it was the wierdest jeckell and hyde thing ive ever seen.

here is what is tough for me.

chris did not have to do it like this and i told him that even after most of you would have been boiling mad.

i liked chris so much i...
But what did he do Jim?

I am still all confused...

The Ban's lifted and he is posting on his silent service thread.

A great trader and a great source of help.

Is it because of his own personal private commercial forum or something that he is abt to begin...?
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  #38541  
Old Jul 23, 2009 11:40am
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Originally Posted by Jigsaw View Post
That USDCAD was as Mike would say it "A money make"

Good trading bro

Quote:
Originally Posted by StoragePro View Post
Nice work man. Nice work.
thnx guys.

Ghous.
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  #38544  
Old Jul 23, 2009 11:46am
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james16,
No need to take it that far, Sir.
There are ways to get around this issue..
Hopefully u will reconsider.

Let's maintain our stance & uphold what is right.
Agreed,

These are tough times sure and they will pass...

I was shocked to read this from Jim:

Quote:
IM SORRY ITS TIME.

if this is the beginning of the end for me here then so be it.

its been a great 5 year ride.

i love all of you and yes there are tears coming down my cheeks.
Common Jim, we're all here, the public thread is still the heart and it will have to live on, exactly like right now for the next few hundred years at least...

You're not alone battling this and do please sink this statement deep into your core...

"YOU'RE NOT ALONE!"

I promise I'll quit trading if anything happens to this thread,
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  #38549  
Old Jul 23, 2009 11:55am
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If you taught me to trade, gave me the methodology and vocabulary, provided me a place to learn, and then gave me senior status to build your credibility,

How would you feel if I started a service and charged to teach what I learned from you?

That is the bottom line.
I see,

Thnx STO...

The day he started his thread it was evident that it was going to lead to the point were it is right now...which makes me feel why was he allowed a new thread of his own in the first place with stuff almost the same as taught here...

I agree it's unfair,

What then Jim?

just don't say anything abt leaving will ya,

A heart attack at 19 is not how and where I want to leave this world. lol
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  #38561  
Old Jul 23, 2009 12:14pm
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Originally Posted by james16 View Post
i feel better now ghous as your one of my favorites.

PLEASE UNDERSTAND SOMETHING GUYS/GALS.

i am not trying to be mean to chris.

i hope the best for chris but i want chris to come out of this freakin fog he has created and be the guy i remember and respect.

if he needs money hell i will give him some or help him get started.

JIM
We're all humans and mistakes can happen,

Chris like you said is a great guy and I am sure he's on his way with his apologies and getting back to what he does best...

We have to except that some time down the path in our lives we can ramble and end up doing something we never should have, but that's life...

We'll move on I am sure and everything will be all right.

Ghous.
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  #38579  
Old Jul 23, 2009 1:21pm
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Originally Posted by marcelnyo View Post
I have something to say about what I have learned from this group/thread, although I'm not the very diligent of people here that can concentrate fully on what they're doing and what they love, and what they believe is the true path to achieve their dreams, I realize I'm not special in any way but this place has became the place I go to when I feel I don't have anywhere else to go, every time I got into a big problem, a depression, I can just see and read the posts and even with my poorly written english, replied to some and have received further...
It's these strange bonds that ensure the longevity of the thread.

Thanks you Marcel for bringing it up. Your words seem to come straight from your heart...

Ghous.
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  #38581  
Old Jul 23, 2009 1:24pm
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Hi everyone... I don't really understand a lot (about the politics etc) but thought that it might be the moment for a long time lurker to pop up to offer a huge vote of thanks to Jim, mike etc etc and it never fails to amaze me that you guys are still here helping and guiding!

nice one
Welcome Salisa,

Let's get rid the reluctance and start posting more shall we?

Ghous.
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  #38804  
Old Jul 24, 2009 5:53am
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Originally Posted by PeterFM View Post
Nearly every post I read from many of you newer guys all talk about taking profits off the table as a trade progresses.

I understand the emotions behind this and had exactly the same feelings two years ago when I asked this question in this thread.

Although I'm not a great one for moving to BE either, I feel that you should be looking at the impact that partial profit taking may be having on your bottom line. If you're looking at this stuff correctly then you should have a clear...
I've heard that before but taking partial profit has one major use for me,

For my avg setups at the first res/supp I like to take half off and move the SL for the remaining half in to the red so I end up BE at worst.

For example, If I go with 2 lots on Eu and take 1 off at +50 I can leave the other half at -50 so as to give the other half more space...

This can work well with the less then A+ setups and is great with my touch trades.

Ghous.
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  #38805  
Old Jul 24, 2009 5:53am
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I'll be singing that all day now. Which is not a bad thing. lol
lol Jim,
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  #38824  
Old Jul 24, 2009 9:43am
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Originally Posted by fat_tom View Post
Tac,

I'm with you on this one - we shall see how she plays out though...

interested to see if it does go long - DBLHC at previous daily support - thats the trigger - classic J16 as far as I can see.

The twisted part of me would like to see it go short (I'm not triggered at the moment anyway) as I can't see any PA to suggest it will and I always reckon you learn more from your mistakes than your wins (life in general not just trading)

Can anyone explain why it might short? - Just keen to know what is giving folks that feel and as a newbie...
Quote:
interested to see if it does go long - DBLHC at previous daily support - thats the trigger - classic J16 as far as I can see.
As far as bar shape is concerned sure is...

But again that's probably less important than the fact that it occurred during a consolidating period, with one heck of a spatial concern, but was probably very much tradable as I see it bouncing off the "range floor".

Anyways an order should never have been triggered as the high never broke...one of those setups which could turn out to be interesting and fruitful if they play out, other times when they don't give you a good hard break you move on...

Quote:
Can anyone explain why it might short? - Just keen to know what is giving folks that feel and as a newbie here I'm still very much at the bottom of the learning curve!
Overall trend's down...

Ghous.
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  #38827  
Old Jul 24, 2009 10:17am
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Originally Posted by deepdish View Post
I am thinking about waiting for the range to tighten, and play a break.

Thoughts?
That would be great, and IMO would count as the best play strategy for current PA.

I wouldn't be surprised if Mike's onto this one with interest,

Ghous.
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  #38828  
Old Jul 24, 2009 10:17am
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Originally Posted by fat_tom View Post
Ghous,

Thanks very much for pointing this obvious one out (I'll get my coat...)

I guess I just saw the consolidation and didn't put much weight on the longer term action

Thanks again Ghous...!!!

Fat Tom
lol

Anytime
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  #38829  
Old Jul 24, 2009 10:24am
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Default Eur/cad looser...

So here's my 3rd for the month.

Eur/Cad 4h IB.

Swing low, (long term support zone) bullish divergence, lot's of space.

The hard and fast break was impressive, and went along for a good 30 pips. One thing I know is that on the 4H I should not have in any way allowed this to come back and hurt me,

Perhaps it was the lack of any major hindrances till 1.56 which made me ease down a bit.

Posting it up as a lesson for myself and all...RULES HAVE TO BE FOLLOWED!

Regards,
Ghous.
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  #38836  
Old Jul 24, 2009 11:28am
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Originally Posted by tac View Post
One of the amazing things about the material is you can profit in a consolidating market. For me this is a good setup, IF it breaks it will go to the top of the range. If not then it may be played as a 2 bar low.
A 2 bar low probably yes, but as is often true in a consolidating market there are spatial concerns down south too...

Look at 1.06 for a ppz on the weekly, I would be very very cautious of going short until we can safely see through 1.06, even if that means skipping the TBL altogether...

I would then rather be happy with a pullback short trade to the 1.06 off a lower time frame.

Ghous.
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  #38837  
Old Jul 24, 2009 11:30am
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Originally Posted by raczekfx View Post
Congrats... luck also has to be earned ..
Just like mine..(attached below)
.


No, there are better champs..


This is my last post on this thread for some time, ...at least until things settle.

Be well. Trade well.

R
...at least untill things settle. ----> ???

Hope everything's fine Bro,

With a genius of a nucleus in your head I can't help wonder what could go wrong.

lol...just jk.

Won't poke into your personal matters.

Catch up with you later Mark.

Ghous.
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  #38890  
Old Jul 25, 2009 4:08am
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Originally Posted by squeezy View Post
ghous is this an ipb u wld consider playing or is it more an indecision bar
seriously hope this tension doesnt spill into the upcoming week
cheers
Hey Squeezy, that would be an indecision bar. But it might be playable given the confluences you outlined...way below A+ though

I was rather looking at a similiar bar but which comes along with a better confluence package. It's the Eur/Cad daily chart.

50 fib,
Long term support (this is where I exited my "2 doji" short trade")
macd divergence.
365 ema (weekly)
possible double bottom (second touch trade candidate)
with the over all weekly trend

Ghous.
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  #38892  
Old Jul 25, 2009 5:42am
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Originally Posted by Jazflyer View Post
As the FNG to this thread I was hoping to put the past months' reading into action on a demo trade. I would really appreciate any input anyone can afford.

Here are the details:

1. the iffy pin bar 2 bars b4 the 2 bar reversal was only interesting at best and not acted upon. While I know that's it's value as a PB no longer existed after the 1st bar of the 2 bar reversal closed, I was thinking it still and some underlying sentiment after the 2nd bar in the 2BR closed

2. The 2BR was as at swing high and finished at my PPZ.

3. bearish divergence

4....
I am all confused. lol

Are you talking abt the 2 bar pin bar or the pin bar before that?
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  #38908  
Old Jul 25, 2009 2:16pm
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Originally Posted by Jazflyer View Post
Ghous

It would be the two bar Pin or aka the 2 bar reversal circled in white.

Boy, reading #1 is like verbal A.D.D/ sorry for the confusion
Ah I see...

Your ppz is all good, but you missed a very important point.

the Pin bar never broke.

At least for the first few months with this technique of merging bars it's recommended that you use the period converter posted by Jarroo in one of his posts.

Below is my Chf/Jpy 8H chart on Fxpro.

Not the best of pin bars anyways evident from the failed attempt of price to try and break through 88.

The divergence and the low of the bar however suggests it might have been a good play had the pin bar given us a quick hard break in which case the 88 level would probably have worked as resistance...

But we're smart enough to act only upon what we see and not what we anticipate right?

Ghous.
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  #38909  
Old Jul 25, 2009 2:23pm
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Originally Posted by StoragePro View Post
I live in Raleigh, NC. People move here from all over the world because of the climate and job market. People visit here on business or for pleasure - and they play golf here. North Carolina is a kind of Mecca for golfers, we have several world class courses here that the public can play....
Loved the fact you shared your experience with these great guys and thoughts with us.

Truly inspirational,

Thanks STO,

Ghous.
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  #38911  
Old Jul 25, 2009 2:48pm
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Originally Posted by uncle gromit View Post
Possible inside bar stall.
Looks good UG,

Wouldn't hesitate to rate it in the A category.

With the trend, 95 round number, beautiful "tiny" appearance signaling a real exhaustion of the pull back.

Ghous.
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  #38938  
Old Jul 25, 2009 11:48pm
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Originally Posted by ghous View Post
Ah I see...

Your ppz is all good, but you missed a very important point.

the Pin bar never broke.

At least for the first few months with this technique of merging bars it's recommended that you use the period converter posted by Jarroo in one of his posts.

Below is my Chf/Jpy 8H chart on Fxpro.

Not the best of pin bars anyways evident from the failed attempt of price to try and break through 88.

The divergence and the low of the bar however suggests it might have been a good play had the pin bar given us a quick hard break in which case...
A couple of other pairs on my watch list.

Gj's almost on the same boat as Uj

Eur/Gbp impresses me with that "dragging pull back" as price reluctantly tested the 8700 level. The bulls literally just panted along the entire pull back...points towards something

Ghous.
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  #38940  
Old Jul 25, 2009 11:56pm
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Originally Posted by Jlr View Post
Such a big CT trade, sort of scary. I personally would be to scared to play that, would want a better bar, or double bottom, or something like that. Could still be a very profitable play, no idea, just would prefer personally to wait for something else.
The best part abt the IB was that it probably was the best place you could "fine tune" an entry to catch the continuation of the overall weekly trend.

But yeah I agree it wasn't the "safest" of trades because of the falling knife, but then again a bit aggressive is how I like it....just me...

(it's still on my watch list...)


Ghous.
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  #38945  
Old Jul 26, 2009 2:45am
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Originally Posted by kk007 View Post
Dear all,

What is the entry point for this kind of trades? Is it the second bar low or the third bar low?

Is this kind of PA less used here that other kinds of PA?

Thanks,

kk
Quote:
What is the entry point for this kind of trades?
5-10 pips below the 2/3/4 lows (below the longest of the lows if the lows aren't exactly matching)

Quote:
Is this kind of PA less used here that other kinds of PA?
Yes because this particular bar pattern just like we want it is extremely rare. On top of that it is less reliable than some of the other PA setups like outside bars and pin bars so those who play it need to be very very picky,

Regards,
Ghous.
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  #38954  
Old Jul 26, 2009 7:20am
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Originally Posted by aarangio View Post
Hi ya Ghous..

Your Panting Bull..nice name by the way....did you make that up or is that the real saying?....I was just wondering would that actually have more chance of going up as usually when you get the instrumeent coiling up like that is ready to explode out or are you more inclined to short because of all the resistence above?

thanks for this..

Adrian
Hi Adrian,

I called it what I did simply because I wanted the phrase to delineate the true meaning...

I don't know and don't care what it is called if at all it does have a name, crows sisters brothers soldiers etc etc...all that is primarily BS.

What I tried to emphasize was that a good understanding of PA goes beyond a trio of PA bars that you look to trade off good locations.period.

It's the basic understanding of current market sentiments long term and short term and how they get "priced in" in the bars that you see not necessarily only in the form of outside/inside and pin bars.

The entire scenario changes the day you stop looking at all this like textbook stuff. Memorizing diff setups, going into their proper names, exact definitions all make you approach trading as an "academic" thing which it absolutely is not.

Yes you could memorize and drill it into your head when you gotta go for a pin bar, but the true essence of PA trading lies in understanding the obvious market moves and how and why they occur...you start with investigating why James wants us to use an outside bar as a trigger to a trade, don't ask anybody, don't read any book, just let your brain do the work. A couple of months and you're on your way to a profound and meaningful understanding of PA bars....what you're aiming for by doing this is to eradicate the "textbook" stuff and approach your charts with simple yet effective common sense backed with some experience. When you find yourself in such a situation it's amazing how these "names" and "definitions" loose their import for you.

What I saw on the Eur/Gbp was nothing martian.

I see a downtrend with lot's of BEBs (Bearish Bars) defining a major downturn/reversal, which busts a decent ppz. (check)

Price stops and the bulls want a piece of the cake. It pulls back but surely not how the bulls might have wanted to dominate it. (no BUBs) check.

Price trips and topples and the bulls in the midst of a deadly fight find themselves testing the 8700 level. check

We know from knowledge that prior support can offer resistance and vice versa. check.

I am not sure what that I said above was new? The name that I gave to it maybe..."panting bulls"...who cares...what we know and are proud off is that we do know what price is willing to do.

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

Adrian your questions made me feel like you were trying to get it drilled into your head somehow and that next time you see something like this you would say...

"Ah! right. Ghous did mention that panting bulls price pattern before. And what did he want me to do? Ah right, yeah short it fine..."

...Because realistically you would never have asked me to consider it as a short or long opportunity if you had wandered beyond the name I gave it and tried to understand the reasoning which makes it look attractive to me.

God knows if it has a name or not and if it's a price pattern or not...bottom line is we don't even need this info, because we look beyond thick books and definitions prescribed by traders into what price actually is willing to do.

When I see lot's of tiny indecision bars during a pull back in a established trend poking at a well defined ppz I don't need a book of "Important price patterns" to tell me what to do next.

the entire rant is not specifically meant to target Adrian, I just used his post to strike upon a common mistake...

Ghous.
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  #38961  
Old Jul 26, 2009 8:55am
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Quote:
Originally Posted by tac View Post
I totally agree with this, don't get to caught up in the rules of the bar i.e. ive seen people not taken a perfect setup because a bar didn't fit the rules exactly. If the bar had closed an hour later then it would have, and as expected price reversed. I think learning to see 1 bars or 1 bar plus a bit of the next bar, or 2-3-4 session bars in your head will really help you spot more setups.
Don't take me wrong,

Pin bars are pin bars and a bar that does not close as a pin bar is NOT a pin bar, and trading it would then be something beyond J16.

Even when a newbie does wish to go that far he is probably far from being well equipped to deal with it...SIMPLE STRAIGHT FACT.

In my post above I mentioned a word which I fear will be overlooked.

it was...EXPERIENCE

UNTIL THE TIME YOU CAN PROVE TO BE CONSISTENT ENOUGH WITH THE BASIC J16 STUFF AS OUTLINED IN THE FIRST 100 PAGES OR SO...THERE IS NO POINT IN DIGGING WHILE YOU'RE ALREADY TRAPPED IN A HOLE.

This is something I believe needs to be drilled in...surely!

Ghous.
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  #38963  
Old Jul 26, 2009 9:13am
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Originally Posted by TiaForex View Post
So we're in.

I used to look at hindsight trades and say "wow, if I had ridden that all the way I would have made 9 times my return". But what I want to do here is take a look at a hindsight chart and walk you through the process as it unfolds.

First thing to identify: where is it likely to have trouble?

Jim once said in a webinar that you can drive yourself mad by looking at every tiny area that price might reverse. Separating the major from the minor areas is critical.

1) First minor zone is marked in sea green. See how there are bar highs...
good work Aaron,

Amazing how all the pieces of the Jigsaw come together when you're good with the "Base" of the method.

Sound PPZ understanding is very important. As important as Aaron described it, better than most could have.

Ghous.
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  #38999  
Old Jul 27, 2009 5:24am
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Originally Posted by rustyjeff View Post
1st chart is the weekly.

2nd daily.....

3rd 4hrly....

Its really just a matter of scaling in & out & choosing what fits your trading style..
Thats as easy as it is..
Nice to have you back Jeff,

Hope the ship isn't ready to sail again soon



Ghous.
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  #39011  
Old Jul 27, 2009 10:13am
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Originally Posted by benji533 View Post

If I will be that picky I will get maybe 1 trade in a month or two.

Ben
Across 20 pairs or so the trade counter for trades on daily and above normally does exceed to more than 1 for any given month.

But then again if you're not under capitalized 1 trade could be all that you need.

Welcome to the thread Ben,

Enjoy your stay

Ghous.
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  #39015  
Old Jul 27, 2009 10:28am
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Originally Posted by salisa View Post
this has looked like it needed a strong PA setup to go long? h4 pin off strong ppz combined with the daily tblhc ... any thoughts for or against? ?
I don't see a lot going wrong with that Salisa, good one.

Nice long nose, and one of those Pb's you can feel more safe when trading in a choppy rangy market.

What's more we were sanctioned of the validity with a quick break of the pin.

i would watch the yellow ppz on my chart as a possible first profit target/stall area.

Ghous.
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  #39016  
Old Jul 27, 2009 10:30am
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Originally Posted by batesmotel View Post
Looks like a nice setup, but did you not wait for the break of the PB high?

GregB
Spread can make that happen at times I guess...
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  #39030  
Old Jul 27, 2009 12:10pm
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Originally Posted by salisa View Post
hi thanks for all the feedback... it hadn't triggered at the point of posting... it has now! nice hard break so far lets see what happens.... !
There we go!!



Ghous.
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  #39038  
Old Jul 27, 2009 1:03pm
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Originally Posted by rustyjeff View Post
not for a while,
Its time for me to go get some....




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  #39041  
Old Jul 27, 2009 1:28pm
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Quote:
Originally Posted by unlv_tj View Post
I passed on the USDCHF trade because I believed it was moving back into too much traffic and would cause problems.

Did you notice this Ghous? Am I being too picky? Is this just part of the weighted risk?
Nothing wrong abt being picky specially when you're on a lower time frame.

Your "traffic" concern was very much valid,

This was NOT in any way one of the 3-4 setups you want over the month via a super conservative approach.

Importantly you must know yourself.

If you're a trader more like Jim and Mike you gotta just watch such PA from the side lines and enjoy,

If you're a jarroo you would go for it and..."manage it tight"

If you're a Razcekfx you would have longed the pin right off the end of the nose and be happy with it.

And then you could also be something like Josh who likes to hold on to his swing setups for eternity.

It all comes down to the fact that we here are discussing of a method, something like hot pudding. You will need your own molds to get it to adopt a shape you personally might like more than somebody else.

I along with a few others took the Usd/chf "in traffic" pin bar because we have higher risk appetites.

Yes on this occasion it seems like we stood out above somebody with a pick mentality but again aiming for more profits = higher probability of a loss

Only a few days a back I posted an Ib setup where I was trying to catch a falling knife, although with some confluence the setup was highly aggressive and some further MM leeway led me to a loss and I was absolutely fine with that.

There's no one way to trade this stuff, your system, personal preference, and individual psychology decide how you would implement J16 to your trading.

Happy trading Unlv

Ghous.
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  #39060  
Old Jul 28, 2009 2:39am
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I pulled off my Uj order.

Another of those plentiful days when waiting for the break can save your A$$.



post number 38911 explains why it was a very much a taradble IB despite some spatial concerns.

Ghous.
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  #39061  
Old Jul 28, 2009 2:43am
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Quote:
Originally Posted by jarroo View Post
Hey tac.

I know you are you happy with your trade results from this 7/23/09 Usd/Jpy PB (blue box) and well you should be. Very nice.

But letting trades run, I believe, is a result that we all work on fullfilling. Many of my largest gains were the result of moving to break even then hiding under the next strong, confluenced areas. These have been with the 2nd half position or even less the half position. ( I do this with many of my trades, even the A+ one, I still learning to let the whole position run on a strong move, Thanks Mike...
That guy's serious abt making it happen,

His attitude goes even beyond his good results.

Smart chap decided to back off the thread for a while so he can concentrate on mastering the stuff.

Take that for dedication.

I wonder if James can puff his chest anymore can he?
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  #39064  
Old Jul 28, 2009 2:52am
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So much for a "commercial section"

We've never seen that counter so horrible even on a weekend.



still everything get's ok.



Ghous.
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  #39068  
Old Jul 28, 2009 3:51am
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Thanks Ghous, I am simply trying to master this stuff on demo, I need to be focused 100%. I love this thread, however I feel if I try and keep up with every post I will spend less time on charts etc.
.
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  #39074  
Old Jul 28, 2009 4:57am
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Hey guys,

I have been following this thread for some time (Jacko's as well) meanwhile trading as a FX prop in an investment company. Big advantage is that I don't need to try it on demo, but directly test all with real money, so psychological part is always involved in any trade. After all that years trading is nice to find a feeling that PA is what makes my trading successful even if I fight with same "enemies" inside, as you are. Hopefully, I will contribute with some own examples and honestly I look forward to learn more from others as well.

Happy...
Hi Gio,

welcome to the thread.

Here's something for our new friend.

Ghous.
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  #39100  
Old Jul 28, 2009 8:33am
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Originally Posted by Jduester View Post
Hey guys. I'm in the very early stages of trying to understand Rac's posts. For those that have better understanding... wondered if this might be a zone he'd be watching.

I'm not sure I'll get a reply from him, since he's not posting for a bit.

BTW, I'm not looking to trade any of these touch entries. Just thought it might help me learn trendlines to better understand his type of trading too...

Thanks,

Josh
Very few of us could help you with that, Rac's crystal ball is only one and he posses it.

I practice blind trades myself, but I don't think I come anywhere near him in style, experience etc etc

But I agree with Jig, Jeff could assist you at best. right now he's off the deck for a while so you're in with a good chance.

Ghous.
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  #39101  
Old Jul 28, 2009 8:42am
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Quote:
Originally Posted by joelcf View Post
buenas noches.

This is what I am watching at the moment.

Pro: top of range 8h pin bouncing off a decent resistance level - which is also the 50 retrace for the aussies huge decline last year (aka the 'joel cant afford to go to new york anymore' decline.. isnt shown on this chart, and im too lazy to reattach

con: goes straight into a strong PPZ

variance: wall st about to open which could cause the aussie to act a fool.

I will probably play a break of 78 and hold down to the PPZ and then watch it like a hawk. Or a kookaburra, as the case may...
Good one Joel,

Long nose, swing high, divergence,

I have my ppz level just abt where the 8H pin bar closed. Could be a fair play if it breaks quick.

Ghous.
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  #39102  
Old Jul 28, 2009 8:47am
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Default Eu.

Swing high, divergence,

resistance from the protruding tail from a previous bar which marked the swing high (a concept I also use with my blind trades)



Ghous.
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  #39105  
Old Jul 28, 2009 8:51am
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Quote:
Originally Posted by supremeChaos View Post
Jduester,
apart from what Jigsaw & ghous have said, u can try & PM ikki. i believe he has made several PM's with rac in the past.
alternatively, PM rac directly as your question may/may not involve raczekfx's undisclosed proprietary system/method & other "voodoo".
I intend to frequent-PM him in the near future as i idolize him too.
LONG LIVE rac/Mark


***---***
...ps how could I forget ikki.
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  #39106  
Old Jul 28, 2009 8:53am
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Originally Posted by batesmotel View Post
If you or Peter could explain this VSA to us, that would be great...I'm unfamiliar with this....

Also, Giotto, please explain the tick volume in more detail...sounds very interesting....I have the ability to make tick charts with my trading software, but I'm unsure of it's importance....I think your insights on this could really enlighten the rest of us...

Thanks in advance!

GregB
hey Greg,

we have a VSA thread here at FF

VSA.


(or you could google the stuff or pm peter or something)

Let's refrain from going off topic here shall we.

Ghous.
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  #39109  
Old Jul 28, 2009 9:56am
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ghous,
lol....

FXOpen is GMT + 3 right (like FxPro, liteForex/SIG, FXDD, etc)? GMT + 2 MT4 brokers (XTB, Alpari, Mig, Broco etc) also showed an almost similar PA setup.
Nice for u to post an eur$ chart. i was about to mention it earlier (along with gbp$ H4) but flinched as i was worried jarroo would come out & ask for a chart again. (i was busy reading posts, so i was not ready to post charts today) lol
lol yeah Fxopen is gmt+3 i guess, cuz it's in line with fxpro...
Quote:
Originally Posted by batesmotel View Post
Right, ok, sorry...thanks for info....GregB
No worries Greg, all of us can get carried away at times.

happy trading.

Ghous.
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  #39110  
Old Jul 28, 2009 10:14am
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Originally Posted by ghous View Post
Swing high, divergence,

resistance from the protruding tail from a previous bar which marked the swing high (a concept I also use with my blind trades)



Ghous.
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  #39112  
Old Jul 28, 2009 11:13am
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Quote:
Originally Posted by mbqb11 View Post
july been nice and slow for me :P

Anyone catch this, not a market I trade but man that is a BEAUTY!
Explains why you're married to round numbers.

G.
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  #39195  
Old Jul 28, 2009 11:23pm
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Quote:
Originally Posted by LasVahGoose View Post
Well, if you have no charts it is difficult to understand what you are saying because every post you contradict yourself. I know you are trying to help, but I just cannot communicate with you.

Anyways, I really don't want to continue the conversation with you, I know what I did and my original post was direct to Ghous anyways...

Take care.
Which one LVG?

I might have missed it sorry...
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  #39196  
Old Jul 28, 2009 11:24pm
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Originally Posted by supremeChaos View Post
LOL... what? that's what i get for being "MR. helpful"
well, u were sort of cranky in this post, but to be honest i expected a little more magnanimous & favorable response from u, Sir. (only because i tried to "help" as not all members here, like Ghous, are expectedly online most of the time ; Ghous needs to rest too, u know)

I did not find any part of my post contradictory; BUT, granted, i may have rambled
ghous posted charts earlier here...
Hey Chaos easy buddy,

I guess LVG just misconstrued you or something...you're both quite friendly and helpful out here, and you both know it too.

Cheers

Ghous.
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  #39198  
Old Jul 28, 2009 11:29pm
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Originally Posted by rustyjeff View Post
It would have been very nice if had closed where we wanted.... BUT.
It didn't....
Some wise words there Jeff,

One of the best advices that can ever be given to newbies...still remember the time when I got off to a flying start with a couple of touch trades on my demo account (trades that rac took at the same places for the same reasons..IMAGINE!) and off I went trying to master the stuff on my live account.

Jeff's laugh at this in a pm still haunts me whenever I try to do something stupid.

Hear Hear ppl! the man's often battling strong winds and waves and swimming with sharks but when he's on his computer he's a helpful little gem.

Ghous.
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  #39209  
Old Jul 29, 2009 4:31am
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ghous,
Thanks, absolutely no worries on my end.
I'm always cool. & i can always handle tough/ungracious/less cordial forum members.
I'm from Asia, i offered him a "late-night/midnight snack" (was very late, past 3AM to be exact, i was very sleepy, still i went out of my way to reply to him; i even praised him & patted his back for a profitable trade) then i get his last post in my "breakfast plate". in short, a "good karma/pay it forward" post got a ungracious post/reply in return.
And we love you for that.

And BTW don't take LVG so hard here lol. He (or she maybe) is a good guy and an oldie at this thread, like I said it must have been a misunderstanding or something...

anyways forget it.

Ghous.
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  #39210  
Old Jul 29, 2009 4:32am
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Originally Posted by rustyjeff View Post
Thanks for the kind words, & yes I still laugh at that pm you sent me, cause it reminded me of me.... I have it saved by the way...

BUT to let you know i'm off again on thursday... bloody mates.. keep paying good money to sail their boats for them.. HA.. this is only 1 day though. from ft lauderdale to stuart florida. be back for asia sesiion. i hope....
Thursday's like tomorrow man,

can't the voyage wait a bit?
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  #39211  
Old Jul 29, 2009 4:34am
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quite a few whipsaws on yen and $ crosses...

something turbulent is cooking out there...
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  #39239  
Old Jul 29, 2009 10:11am
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Originally Posted by kk007 View Post
I have this very nice H1 pinbar failed. It pierces a major S/R. Any comment?
Hi Kk007,

Chaos made some valid points,

Abt the Usd/Chf...

Here's what I think:

Why do you think James wants you to stick to higher time frames first?
Why do you think Ryan is comfortable with having 15 pips 20 pip take profit levels when he could hold on to some of those "with the trend" 5 min setups for hundreds of pips.

Yes the pin bars on 1H still do what they are known for doing on the higher time frames but there is a BIG difference,

Notice how the same move on daily could have yielded some 40-50 points on a normal pair and some 100 pips or so on Gj perhaps,

If this exact setup had occurred on daily and you entered exactly where you did and the move lasted exactly as long as in the 1H case, should you have seen a 50-100 pip gain become a looser? If you know J16 stuff well you would not

On the 1H the move was abt 15 pips, and you're looking at it as a looser only because you're far from understanding the psychology of lower time frame trading.


There is more to lower time frame trading than just tackling with noise and making quick decisions. Which is why for PA traders it is best to hang around the highers for as long as they master them at least, before venturing into the more turbulent 1H setups.

Ask Ryan, and he'll tell you the trade was a winner!

Usd/Chf gave off a good pin and it did what it should have...the tricky part here was to understand that 15 pips is a great win for a 1H trader. Something a trader on daily will take some time to understand...

The Eur/Usd failed Pin bar setup was probably a genuine looser and Chaos made some great points abt why it was a mdeiocre setup.

And then again as jig said shit happens.

Trading the lower time frames even with the same tools can be quite different than trading the higher time frames and require loads and loads and LOADS of practice.

Ghous.
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  #39240  
Old Jul 29, 2009 10:14am
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Quote:
Originally Posted by Jigsaw View Post
BUOBs and BEOBs at confluence.

Completely agree!

Cvcamper,

Wouldn't advise you to go down the time frame ladder just yet...

Ghous.
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  #39245  
Old Jul 29, 2009 10:24am
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Quote:
Originally Posted by kk007 View Post
Supremechaos,

Thanks for reply again.
Do you think the down trend is strong, as shown on the chart?

If I have to consider PPZ of that strength (in relation to the length of the pinbar) as a stop, I would have to have profit target of very small each time. This will make my trading risk very high, and perhaps it may be better to have an occasional failed pinbar instead. I can see the failure rate of a pinbar of such quality is low.

sorry it is eur/usd.

cheers,

kk
yes KK,

personally I would have liked it to kiss 1.419, but it didn't which is fine, because again we are not expecting these to work out just like we want them to 100% of the times.

Moving on...is what I would be doing if I were you.

Ghous.
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  #39247  
Old Jul 29, 2009 10:35am
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Default Eu trade update...

Kissing the next major support zone,

Through this and 1.4's next...



Ghous.
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  #39255  
Old Jul 29, 2009 11:14am
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Originally Posted by supremeChaos View Post
ghous,
are u willing to let your trade breathe & go sub-1.40? where are u hiding your stops?
it may have extra gas to reach 1.38 - 1.3870: massive bear divergence on xxx/$ majors finally unwinding + USDX (Dollar index) finally rebounding from lows.

i'm , but im not in this though. (i'll try to sneak in with a 'late' entry if opportunity presents itself; thank God, i don't chase trades anymore)
like my idol [url="http://www.forexfactory.com/showpost.php?p=2891751&postcount=38 295"]recently...
lol sure.

I usually hide my stops behind pull backs and trail them along manually as the trend progresses and pull backs present themselves.

BTW Eu did present an opp on the daily to go short later after the 4H pin bar...(very nearly a good looking DBHLC)

Ghous.
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  #39256  
Old Jul 29, 2009 11:20am
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Originally Posted by kk007 View Post
Thanks ghous,

Let me share some maths that I know.

------------------------------------------

I have a way to calculate cross timeframe target for the same trading method.

If you use the method to trade D1 and on average you have a target of 100 pip, what would you expect if you trade H1 or M5 with exactly the same methods.

Since there is 24 hours a day, for a D1 chart the pip volatility is about sqrt(24) times that on a H1 chart. So, you could expect a target of about 100/sqrt(24) i.e. ~ 20 pip

If you go down to a M5 chart, the target...
I thought I was good at math, and you pricked the hallucination Kk



I seriously need to take my math classes more gravity.

Not sure how you arrived at the 100 pip on daily - 20 pip on 1H thing, but I was pointing out at something obvious without deriving it from a mathematical aspect.

Ghous.
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  #39274  
Old Jul 29, 2009 1:24pm
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Quote:
Originally Posted by kk007 View Post
Wow... How can you do this?

There are so many possible PPZ obstacles in the middle. How did you break them all???

Also, the pinbar you used, also have the nose outside the left eye a bit.. haha!

How did you make them allow you taking profit???

haha... you must teach me all these..
Simple,

By devising a plan and sticking to it.

A nice pin bar (maybe not by the pip but if you know this stuff well you would know it was tradable) which was headed into a traffic zone with lot's of minor ppzs...

Took some profit earlier on and moved my SL quickly to BE when the trade was at +35, leaving price to do what it wants in a space which would not allow it to hurt me in anyway.

Another day price would have bounced off any of those red lines you mentioned Kk and would have got me out, but it's sweet to have days when price busts through a traffic zone with authority and never looks back.

Sometimes you just need to let price do what it wants to in a strong escape proof caging with MM wiring....

....because again entry and exit can never play a role as important as your money management and individual psychology lining up with your personal inclinations.

Ghous.
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  #39279  
Old Jul 29, 2009 1:49pm
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Quote:
Originally Posted by jarroo View Post
I knew you were on to something ghous.

Daily BEOB on the Euro and Daliy BUOB on the Swissy. Both with some divergence, Fib confluence and round numbers.

Its nice have a 4 hour bearish PB confirming into a Daily BEOB on the Euro.
.
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  #39280  
Old Jul 29, 2009 1:51pm
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Quote:
Originally Posted by StoragePro View Post
This is public service - be very careful, you could end up like this:

http://www.youtube.com/watch?v=-jBKKV2V8eU


(effaced an emoticon from Sto's post to accommodate 5 laughing A$$es.)

Jeez...
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  #39283  
Old Jul 29, 2009 1:59pm
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Quote:
Originally Posted by tac View Post
Hey guys,

Just want to update on my demo on dallies....
Great going Tac,

Your progress doesn't need a separate post to be highlighted.

Kindly refrain from posting unnecessary stuff.

Ghous.
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  #39341  
Old Jul 29, 2009 9:42pm
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Default Aud/Chf IPB

Missed this one,

but it sure looks sweet.

fib confluence + horizontal ppz on the weekly,
Beautiful IPB on the daily, which goes to work straight away.

Ghous.
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  #39371  
Old Jul 30, 2009 4:24am
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Quote:
Originally Posted by jarroo View Post
I was thinking of maybe this one. Super Trader. Yeaahhh cool.
LMAO

How abt Rac's eagle sitting on Jim's fist.

...
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  #39374  
Old Jul 30, 2009 4:28am
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Quote:
Originally Posted by LasVahGoose View Post
Jim holding the 'crystal ball'
And the background could be Jarroo's present avator...

out of modesty he completely forgot himself,

If there's ever a "hybrid super trader" avator out there it cannot miss jarroo out.

Ghous.
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  #39433  
Old Jul 30, 2009 10:26am
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Originally Posted by ghous View Post
A couple of other pairs on my watch list.

Gj's almost on the same boat as Uj

Eur/Gbp impresses me with that "dragging pull back" as price reluctantly tested the 8700 level. The bulls literally just panted along the entire pull back...points towards something

Ghous.
I am kicking myself for getting out prematurely, I was done for the month when this trade opp came about and although no initial plans of doing so I happened to trail the SL far too tight...

Still managed some 90 good pips bonus on this one. the entry trigger was all that I said in the quoted post and the actual entry was taken on the close of the doji from the previous week. (somewhat a blind trade)

PA is still the king and goes beyond well beyond a few bars and their looks.

Ghous.
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  #39613  
Old Aug 1, 2009 3:08am
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Originally Posted by bundyraider View Post
To be honest,...
All of what Bundy said, EDIT: and what Jarroo said....

+

The daily isn't looking too neat for a long either.

When I look at it on my chart I see bears rushing past the 50 fib which has worked well as a horizontal ppz , and what then? Nothing martian for anybody who understands the role of ppzs in a market and the reactions they bring about....A typical, breakout restest scenario

(can't bother longing a bearish breakout )

Notice how Friday's daily bar closed. A high that touches the 50 fib but fails to keep price near or at it. A BIG warning sign for me...because the further price moves from a high/low within a price bar the better is that high/low equipped to provide res/supp

To tell you more abt it this is very nearly a good touch trade (short) setup for me if price can look to kiss/touch Friday's bar high early on Monday...

Ghous.
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  #39615  
Old Aug 1, 2009 3:16am
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Nice observation ghous. Top notch.

Also, traders buying out of their shorts (so to speak) or getting out of their shorts causing the rise in Price. To get out before the weekend.
You gotta a bit of a Sherm look there Mate!

101 (or maybe more) ways to read the market.
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  #39629  
Old Aug 1, 2009 5:14am
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It looks like an IPB that could show a strong down move. I would have to ask ghous about that one.

Or that big Ole PB may break upward to the 165.00 which is a strong PPZ level near the 50% retrace. Hard to say.

Should be fun to watch.
Very hard indeed to say anything,

What I like the IPB's to do is to give me clear indications of a halt/reversal. After the huge push down the bar being at somewhat a decent pull back does seem to be an IPB, however I would have liked it somewhere around 154 to be honest...

Won't trade it bit should be fun to watch,

Ghous.
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  #39631  
Old Aug 1, 2009 5:26am
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Quote:
Originally Posted by squeezy View Post
hello guys
sup jarroo, ghous and everyone else
just wanted to pitch in on the eurcadwkly pin
i like to keep my charts clean with nothing (no lines, emas etc) until i see pa , then i start looking for trouble areas & also put emas, fibs for confluence
on the 4hr chart , there was a small bullish pin which i diddnt like, so i didnt buy...but when i saw the buob, i entered on the break(i liked the divergence too on the 4hr)....which im still holding now at be

my main question now is this,....for someone who works mainly with the tf where he finds...
yeah you're right abt the singular time frame stuff Squeezy, I was just pointing out at something I have been looking over the weekend, i.e the touch trade opportunity and saw this guy's post talking abt long so thought I needed to pool in.

Just as a further confirmation, here's why if a trade is taken off the weekly pin bar (as per J16 rules) regardless of what's happening on any lower time frame it has little to worry...

The pin bar break would have to occur at a point on my daily chart which is above my yellow ppz in which case a long might not be a such a bad idea, my post was refrring to fair enough possibility of the weekly pin bar never breaking due to the fact that price has found it's way below a distinct ppz and is now merely resteting it.

The weekly pin bar if it breaks does have some serious potential,

Ghous.
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  #39633  
Old Aug 1, 2009 5:40am
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Originally Posted by jarroo View Post
Thanks ghous. I thought you would have liked it at the 163.00ish level near those highs (blue). I guess I better reread more of your IPB posts.

But your right, it will be fun to watch,

Jim
Your blue area would also have been an interesting area for the IPB, I referred to the 154 as it marked a major reversal earlier and was a better "zone" for an IPb to be in...at the moment it seems to be hanging nowhere

here's a chart of how I would have liked it, worked hard on it

Ghous.
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  #39634  
Old Aug 1, 2009 5:45am
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Quote:
Originally Posted by Bryan View Post
The EURCAD has a dbhlc (2 pip difference on my feed) on monthly. Won't we have to take that into consideration?
It's too choppy for me.

But you could look at that...

I personally don't often look that far up the time frame ladder, monthly is like...errr...a little too long term, for me at least

Ghous.
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  #39636  
Old Aug 1, 2009 5:57am
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Quote:
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wat, ghous ...i mean , how did u do dat
nice one
u got me goin there with ur 1st chart
Don't ask lol

(Just a bit of workout on the paint software)
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  #39638  
Old Aug 1, 2009 6:15am
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yeah, i see wat u mean ghous
if i were to look at entering the weekly eurcad pin from maybe from my 4hr tf, i would set my buy stop above my 1.5487 ppz but im goin to treat it as a weekly trade & set 10pips above the pin for a break

quick question, when setting ur entry,stop loss & take profit, do you put into consideration the spread( do u add the spread to it) or do you just set 10pips above/below the pa setup....
I don't involve the spread in my entry, but in my SLs and Tps I do include them.

So for example on a pair with a 10 pip spread I want to book my tp at 1.8 I'd place my TP order at 1.7990, same stuff for the SL...

If I plan to have my SL at 1.7 my Stop loss order on the same pair same position would be 1.7010.

Ghous.
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  #39642  
Old Aug 1, 2009 9:27am
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Originally Posted by johnnykanoo View Post
hey guys it is a slow saturday so i thought i would post a picture of my motivation

His name is John Michael. I was thinking I have aprox 18 years to get good at this stuff so when he goes to college but he is already almost 25 pounds so i'm thinking i better get on the ball if i want to be able to afford grocerys lol!!!

guys/gals have a great weekend, john
Lol!

Great Kid Johny

Love that mischievous looks on him.

We hope to see him on the thread soon.

Ghous.
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  #39644  
Old Aug 1, 2009 9:32am
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Quote:
Originally Posted by bakko85 View Post
Hi J16 people!
I read some interesting posts about GbpJpy IPB, and other setups..
I personally like the weekly pin on CadChf (this pair was on my radar in the past weeks). But i would also pay attention to the IPB on EurUsd, weekly: attached below there is the chart.
I am looking at the Euro IPB myself...

If 1.4 can give way 1.38 isn't improbable ...

Ghous.
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  #39659  
Old Aug 1, 2009 11:17pm
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Quote:
Originally Posted by verno View Post
Ghous, how do you play those? is it like any other PB, ie a break of the high low, in the case the low?

Or do you tend to get in earlier?
Look at these posts...

http://www.forexfactory.com/t/2331/p...ml#post2857836

http://www.forexfactory.com/t/2331/p_2866377__highlight_ipb%20entry/james16-chart-thread-2475.html#post2866377

http://www.forexfactory.com/t/2331/p...ml#post2829099

Ghous.
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  #39660  
Old Aug 1, 2009 11:20pm
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Default IPB SL placement...

Quote:
Originally Posted by squeezy View Post
hey verno,
im not ghous but just wanted to pitch in, i believe ghous enters on the close and places his stop loss just above the previous bars high when playing a short. ( or rather,above the highest bar's high)
1st target is the low of the ipb....
hope i got that ghous???
cheers
You nailed it well squeezy,

Usually my SL is above the IPB high but in times when the previou bar high is lined up with the IPB high, I don't think twice abt moving the SL a few pips more above the high of the previous bar if this bar's high does exceed the IPB high...



G.
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  #39661  
Old Aug 1, 2009 11:25pm
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Quote:
Originally Posted by Basber View Post
Hmm ... Very Quiet, Even For a Weekend !

Regards,
Basber
The "Interactive discussion" section is by far the most active of em' all...

Threads like the Gu update and Eu update received new posts by the second...literally by the second on any given week day,

By virtue of the huge numbers of member visitors and non-member visitors The J16 thread was also flourishing,

We can just hope twee will fix it all

Ghous.
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  #39662  
Old Aug 1, 2009 11:29pm
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Originally Posted by johnnykanoo View Post
hey ghous thanks, you always have something nice to say and honestly you are by far the nicest person here to everyone. I really appreciate it.
also i learn alot from you too
My turn to say thanks.
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  #39666  
Old Aug 2, 2009 3:42am
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Quote:
Originally Posted by benji533 View Post

I have made a several pics for doing it clearer...hope it's ok.

Now help me find reasons why NOT taking that trade!

Ben
You'll find enough if you look carefully...

Against the trend,

50 fib in the way

BIG 91 ppz (marked in yellow on my chart)

Most important of them all..."NOT AT A SWING HIGH/LOW OR AT A MAJOR PULLBACK"

Notice how this could be a great location for a bearish pin bar...which makes me think...

If a particular location is great for a bearish pin bar could it be just as good for a bullish pin bar? ...don't think so...

Could this be looked upon as bearish IPB?...pretty much YES!

Just MY opinion on the setup...

Ghous.
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  #39667  
Old Aug 2, 2009 3:47am
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Default Another setup I have my eyes on...

Cad/Jpy,

Possible double top indicated by a halt bar (doji) exactly like I like it, cute and small in appearance...at a confluence with the 50 fib.


Ghous.
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  #39669  
Old Aug 2, 2009 5:41am
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Ghoust, your opinion is indeed important. Learning from corrections of experienced traders is a great way to improve. Thanks.

I just want to comment on your points.

1) You have pullet the fib lines from another location. In my chart is looks good.
So how do you know which one of those fib locations is better?


Neither of us is wrong. My fibs were pointing at the recent dominant down trend and you pointed out at the overall up trend. I used the location I used because it was better lined up with the current price action...

As long as your fibs are drawn from and to a distinct Swing high/low they are always valid.

2) Maybe it's weird, but I see an uptrend . You say that the price just pulled back from a major downtrend. If you will look a bit back in time around 1998 on the chart...you will see that there was a large and strong historic downtrend. Latter came a strong uptrend which wasn't a kind of a pull back...but a strong uptrend (of course the price always makes pullbacks, but not such major pullbacks like it is doing currently). That makes me think it's a uptrend and not just a pullback.
But of course, we can never know....
Edit: Just edited point 2 to correct and explain myself better.

Yeah I understand, but even if you consider the entire up trend and the bullish pin bar you still don't end up at a good enough location...the yellow square I marked on my chart is where this pin bar would have held some reasonable weight, and then you could have looked at it as "a bullish pin bar with the overall up trend"

3) Maybe it's material that I am still not familiar with...but what is a IPB? are you meaning "inverted pin bar"? Sorry, I am quite new to forex (6 weeks). I will be glad if you can please explain what is the meaning of that (I mean the effect on the price). How can you just turn a pin bar and look at it as a bearish pin bar.

Here you go. (A post where I introduced the IPB in great detail) let me know through pm or at the thread if you have further questions...(or you could read through my posts.

IPB Introduction

4) I have stressed in my previous post that I will enter long only after a breakout of the 91 PPZ ( I have even said 91.7). So I am aware of that strong PPZ. If the price will break it as I think, that PPZ will act as a strong support area. That's the reason I will enter only after a breakout of that line. Talking about pullbacks....maybe a breakout of that PPZ will confirm an uptrend instead of a pullback?
Just a newbie thought of course.


Right. and BTW your thought process is already very very mature for a 6 week old newbie...carry on like this and you'll be going a long long way

By the way I agree that it's not located on a swing low/high...I have mentioned it also myself. But if we will wait only for swings on the monthly, we will need to wait at least a few years.

Not exactly, Swing highs are great locations but you can also trade them (pin bars and other PA bars) at pull backs with enough supporting confluences...and then again with time you will have the added advantage of hunting the lower tfs too so you don't really have to wait for years for a trade.

In fact one of your major concerns when starting off would be the battle with over trading. trust me.

Thanks again for your comments buddy and take care,

No worries bro...happy to be of some minor assistance.

Ben

Ghous.
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  #39674  
Old Aug 2, 2009 7:37am
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Quote:
Originally Posted by Revstar View Post
Hi Gouse,

Since following the thread, I have become more and more interested in your method of analysis and trade execution. Do you have any suggested links to a synopsis of the way you setup,analyze and execute within J16 thread or elsewhere.

If not i will continue to go through the thread picking up your golden pieces of trading wisdom!

Many many thanks................

P.S also did you get ur place at Nottingham uni? (seen from a different thread you started).

Revstar
Hey,

Again, Gouse? lol

Replace the B in Boss with G and you're close to the actual pronunciation.

I am planning to launch a private forum some time next week where I'll compile all my posts and take my fan house along with me...don't worry it won't be expensive. uh oh Jim, you also don't worry you'll get the reward too, cuz guess what? I'll have your entire PF title with the link and all on the VERY first page! happy?



Jokes aside really I deserve no credit what so ever

if there's anybody out there you could thank, it has to be the Jims and Mike and Raczekfx and SL and Bemac and Wizard and and many many more seniors...From the core of my heart..."I owe my everything to them"

Sorry you'll just have to go through my posts and stuff, and thankx for respect beyond what I deserve sir.

Oh and yeah I am not at Nottingham. I was admitted there but was never able to afford it. (I am still in Pakistan with plans of studying at one of the better universities till at least my first degree)

Cheers.
Ghous.
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  #39675  
Old Aug 2, 2009 7:39am
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Originally Posted by johnnykanoo View Post
ghous i have a total newbie question for you. when you refer to a "double top" what exactly does that mean?

is it like a tbh or is it because 2 candles at differnt times made the same high?

the reason im confused is because in your cadjpy chart i see 3 bars touching that 87.80 area highlighted and if i look to the left i see another bounce off of that area.

maybe i answered my own question is a double top when price revisits an area 2 distinctively different times even if at these times more than one bar touches??

sorry for the newb question...
Thnx John,

I was abt to explain until I saw the post from the Motel guy.

Well said Bates

Ghous.
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  #39677  
Old Aug 2, 2009 7:47am
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Quote:
Originally Posted by batesmotel View Post
Sorry if I stepped on your toes, I wasn't sure if you were online at your computer, so I just typed a short explanation on Double Tops...

What do you think of this setup on the CADJPY anyway? Doesn't look like there is any obvious PA to me....

GregB
Not any typical J16 PA,

If you follow my posts I tend to trade "price action" in general in addition to pure J16 stuff...

We don't have a pin bar or outside/inside bar but we do have what's considered a good "halt" signal in the price bar world - A DOJI.

G.
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  #39678  
Old Aug 2, 2009 8:02am
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Quote:
Originally Posted by ghous View Post
Not any typical J16 PA,

If you follow my posts I tend to trade "price action" in general in addition to pure J16 stuff...

We don't have a pin bar or outside/inside bar but we do have what's considered a good "halt" signal in the price bar world - A DOJI.

G.
Here's an example...

When with the trend they can work out sweeettt!!
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  #39681  
Old Aug 2, 2009 9:10am
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Quote:
Originally Posted by nicole99 View Post
Ghous, how would you enter this trade? Should it be at the low of the bar which is 161 pips away from close or at the close of the bar?

Thank you.
I've taken a few at the doji close but quite honestly, I think waiting for the break is the safest way to play them...

Also as a reminder make sure you've done enough back testing and demoing before you risk real money with anything new...

Ghous.
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  #39682  
Old Aug 2, 2009 9:11am
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Originally Posted by Revstar View Post
Embarrassed....

My apologies Ghous.... thanks for the pointers though, cant wait for your pf..


on a side note, I think uni fees for students from outside the UK are ridiculously expensive... imo..

many thanks
revstar
Don't tell me you took it seriously! lol

I WAS KIDDING!

I have no intentions of opening a private paid forum, not in a million years. lol

Ghous.
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  #39688  
Old Aug 2, 2009 11:33am
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Quote:
Originally Posted by Jigsaw View Post
Damn,

That DOES have a nice ring to it doesn't it ? !


Be the Boss of the Forex markets !

Work from home at forex with Ghous the boss and be your own boss !

The Boss teaches you to be the boss !
Quote:
Originally Posted by albchr View Post
I HAVE paid for those kind of tag lines.........

Don't take a loss, Be the Boss! Let Ghous The Boss Trading be your guide!
Probably Clock wasn't at fault then...

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  #39690  
Old Aug 2, 2009 11:37am
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Quote:
Originally Posted by johnnykanoo View Post
@ batesmotel thanks for the detailed explanation, just so i have this straight then a double top...
you got the double top/bottom thing right Johnny...

Abt the highs and lows, just make sure you use them as only supporting confluence like stuff just like Greg did in his post.

because the markets don't operate in a perfect world and pattern. An uptrend doesn't always move in a higher high higher low pattern and doesn't always reverse when such a pattern breaks...same for a down trend...

Just sayin' so you get this absolutely right while you're still at the initial stages of discovery and learning.

I'll join the pf...soon... (A little short on cash, I mean common I am a 19 year old university student still very much dependent on my dear ol' dad lol )

Ghous.
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  #39713  
Old Aug 2, 2009 9:09pm
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Quote:
Originally Posted by ghous View Post
All of what Bundy said, EDIT: and what Jarroo said....

To tell you more abt it this is very nearly a good touch trade (short) setup for me if price can look to kiss/touch Friday's bar high early on Monday...
There we go.

and I missed it lol

Not my fault, won't chase them 3 am in the morning...

Still a complacent feeling to get it doing what I wanted it to...

(a trade exactly where I wanted (near the red line) would have been sitting at +50 very much at BE now.)

Ghous.
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  #39715  
Old Aug 2, 2009 9:12pm
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Quote:
Originally Posted by benji533 View Post
Hi Ghoust,

I have everything in place now, thanks again.

By the way, great post about the IPB...I have saved it in my favorites

Take care,


Ben
No worries Benji.

just try leaving out the "t" next time you type my name though lol

Ghous.
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  #39717  
Old Aug 2, 2009 9:24pm
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Originally Posted by benji533 View Post
LOL
I guess your avatar is pretty much hypnotizing me

Next time...

Ben
He isn't that sexy is he?
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  #39737  
Old Aug 3, 2009 2:36am
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Quote:
Originally Posted by benji533 View Post
ok so this will be my plan IF I'll enter this trade.....does it make sense?
Good plan Benji,

Sometimes you have to be very patient and sensible on the lower time frames early on a Monday, price does what it is doing right now a lot....struggle for momentum.

So far the momentum is giving good signs of building on the short side, indicated by the Ib and the "so far going nowhere" bar currently under play,

I have a blind short order waiting at 1.676 so I'll give it a push with my $1000 a pip volume

Ghous.
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  #39740  
Old Aug 3, 2009 2:58am
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Quote:
Originally Posted by benji533 View Post
I'm glad I'm getting positive feedbacks. I feel I'm starting to "get it"

This stuff is really simple if you compare it to all the messy charts of other traders who use other kind of "systems". So much lines....they can't even see how the bar looks like.
I'm glad I have found this thread at the start of my journey....thanks to Johnny

Umm..yes..basically I know I must practice higher time frames before going down...but I will allow myself taking some picks on the 4H....my curiosity will kill me at the end.

By the way, you have...
No I meant 1.676,

And I missed it with a hair line

lol, a trade would have been up 40 pips (my BE point on touch trades) so a missed trade get's pulled off here. next...

(no intents of shorting the 4h pin...risk constraints...)

oh and BTW the $1000 a pip thingie was a joke.

lol

Ghous.
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  #39828  
Old Aug 3, 2009 11:42pm
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Originally Posted by Basber View Post
Ghous,
Is This a Valid IPB ?

Regards,
Basber
I wouldn't bother playing that Basber,

Just like STO said in a post earlier, we are not here to trade every PA bar that we see

Just remember than an IPB is a pin bar. Would you ever consider the bar you pointed out as a valid pin bar? Hell no! It's probably just an inside bar or something...

Moreover look at the overall PA of the up trend price has literally dragged on it's way up. lot's of small bullish bars and dojis and inside bars all side by side doing nothing but pulling price a little higher.

the location was all good but pa was poor.

Regards,
Ghous.
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  #39831  
Old Aug 3, 2009 11:53pm
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Originally Posted by Jigsaw View Post
Joel,

I LOVE () all of your posts.

Moar random insights needed bro !

Lol,

You gotta stop torturing kids Jigsaw! That one's abt to explode!
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  #39832  
Old Aug 3, 2009 11:59pm
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Quote:
Originally Posted by StoragePro View Post
You boys are brave with those IPB's. I look at them and say - "What does this say about the order flow? Continuation most likely."

Ghous - can you explain this a bit? Or simply point me at a post? I just don't understand this PA you guys are messin' with. <scratching head>
lol

Not always STO,

a bullish pin bar during an uptrend at a resistance point gives you a hint abt the short order flow, just that since the bulls are dominant they do end up taking price back up to where it opened on the bar...but then it's a good indication that the bears are starting to get in...

Same with a bearish pin bar at certain locations...

Here's a post you could refer to...

IPB introduction

it is definitely the most subtle of all PA bars though...the one Basber pointed out was nowhere near a trade, someone trading that won't be brave he'd be flat out stupid.

Ghous.
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  #39876  
Old Aug 4, 2009 11:20am
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Quote:
Originally Posted by Matiasfx View Post
Ej 1h ppz+50/61.8%+buob
Ahh! You're making me miss Rac.

Nice one matt!

G.
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  #39903  
Old Aug 4, 2009 12:48pm
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Ej.

Missed this beauty of a trade, I've been busy today...

For those that took it, it went straight to where it should have,

G.
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  #39905  
Old Aug 4, 2009 12:55pm
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Quote:
Originally Posted by StoragePro View Post
Just one I liked today.

EURJPY BUOB on the hourly. Not the biggest in the world, but in the right place. (Round number and confluence with a PPZ and on the 50% retrace) (Nice how things are a bit slow around the office!)

8AM EST bar. Scale your chart out a bit and you'll see we are entering an area of consolidation. Manage accordingly. Could be a 2R trade (or close) - if you are keeping track.

I also saw numerous pretenders out there - bars without a home (PPZ and confluence)
Nice one STO,

the location was awesome!
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  #39941  
Old Aug 5, 2009 5:36am
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Originally Posted by fat_tom View Post
Guys/girls,

basic question here...

I find myself in 2 trades currently a short EURGBP (few days old daily BEOB) and a long EURCAD (triggered late on yesterday weekly pin ...)

Not wanting to discuss whether these are good trades or not (I think I know the answer ) but I find myself on one hand wanting a show of strength from the Euro (EURCAD trade) and on the other hand a weakness (EURGBP) now I know in any trade there are two pairs and indeed the EUR could stay the same through out these trades and I could win based on the...
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Not wanting to discuss whether these are good trades or not (I think I know the answer )
I loved that!!

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but I find myself on one hand wanting a show of strength from the Euro (EURCAD trade) and on the other hand a weakness (EURGBP) now I know in any trade there are two pairs and indeed the EUR could stay the same through out these trades and I could win based on the behaviour of the other pairs involved (GBP and CAD in this example) but is this situation advisable? - can I really take a trade based on a single charts analysis and not worry about what other charts are doing? my gut feeling is yes and I can trade like this but I'd really like to know...
You should just treat them independently IMHO,

Because look at it like this, you're short Eur/Gbp and long Eur/Cad but that doesn't always mean that you're looking at a weak euro in one pair and stronger euro in the other, the price movement may well be caused by the other pairs...i.e gbp and cad.

So for example if GBP goes up eur/gbp will fall but eur/cad maybe little effected...

If you're not willing to go into the depths of exploring co-relations you should just treat them individually and let PA show you the way...

Just my 2 pips.

Ghous.
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  #39942  
Old Aug 5, 2009 6:01am
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Locations like these is where we really want our trades to be at,

Swing high + double top + decent looking IPB = 40 safe pips

Ghous.
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  #39949  
Old Aug 5, 2009 6:27am
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Originally Posted by Jazflyer View Post
You mentioned a TBLHC, might be my chart but those are not really even close; 1.68884 and 1.69010 ok forget the "pipets" 1.6888/1.6901. Recalling from previous threads, we're looking for 1-2 pip max difference to satisfy the requirement of a TBLHC. That's kinda besides the point though in that the last daily bar hasn't even closed yet, so who knows where it'll end up.
But, if it does close as a TBLHC and you were looking for a long position, some would want to see a retrace back to 1.6745 area with PA to confirm a long entry.
Well said jazz,

A TBLHC is a PA setup that needs to be traded very very carefully,

here's a visual explanation of what Jazz said in his post above,

They are looked for at super good locations and super good form.

Ghous.
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  #39961  
Old Aug 5, 2009 9:26am
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Originally Posted by SeekingLight View Post
It's funny, this is the trade I basically scrutinized to death in my journal due to being counter-trend, limited confluence and very likely "twitching to trade" motivated (I took it to that very area and immediately felt that it was beh).

Did it work? Yes. Was the rejection area visible? Yes.
Did it feel like trying to ride the bucking bull(counter-trend) instead of just riding the slow, steady, but safer, mainstream pony trail(with the trend)? Indeedelydoodely.

If I'm already thinking "that high is probably going to be taken out within...
Lol. I see...

But then that means you never take a trade at a swing high/low against the trend?

G.
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  #40023  
Old Aug 6, 2009 1:35am
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Originally Posted by ady27 View Post
Hi josh,

Just a small point, and I'm sorry if I miss-understood you.
Divergence in this case would be that price is making higher highs and the MACD makes lower highs... (chart).
Just trying to make things simple.

This is not referring for YOUR particular g/cad trade. this is in general.
hey Ady,

What Josh was pointing out is what you call "hidden" bearish divergence.

What you outlined is "regular" bearish divergence.

Here's some info from the babypips school.

Divergence

G.
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  #40031  
Old Aug 6, 2009 2:03am
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Originally Posted by jarroo View Post
The thinking is . .You will probably be stopped and Price will reverse on you if you run in to a PPZ level like this.

So once Price breaks you protect yourself by moving to break even and/or take partial profits and limilt your risk once that PPZ is hit.

Now I know you may be a R:R guy and the PB size was 400+ pips which would have not even come close to being hit on this PB. So, you would adjust you position size to reflect your risk accordingly.

Or tighten your stop loss by placing it over the 1.4500 reducing your risk and waiting...
Looking at the 4H jarroo, one then "should" have been stopped. cuz the Pb did break hard and bounced off that ppz albeit temporaily but enough to get one stopped if one had protected himself by moving the stop to BE at the ppz.

G.
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  #40045  
Old Aug 6, 2009 3:07am
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Originally Posted by Scotty B View Post
I will when I can (although I don't know too much of your J16 lingo), One more thing..and I don't have all the time to go into it right now (you guys can figure it out though) When looking at eurusd, what other pair corrisponds very closely with it? Oh ummm, eurjpy? When you look at both charts they move very much alike..Move for move that is and even trend wise. knowing this very simple point, there are ways you can cover your own butt by trading both pairs in unison, and not using stops. Don't just jump in and start doing this, just think about...
There are lot of ppl questioning abt co relations here Scott, we don't deal in them extensively so...

If you can stay around, it would be great for them,

Thnx.

G.
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  #40046  
Old Aug 6, 2009 3:11am
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Originally Posted by joelcf View Post
(also, as an aside...Fibbonacci was crazy, not some magic mathemagician. Hay guyz, watch me turn this lead into gold!)

** my grandma isnt really dead. sorry gramma!
The way you're going Jeol,

You sure will, I promise you.

G
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  #40048  
Old Aug 6, 2009 3:21am
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Originally Posted by supremeChaos View Post
joelcf,

another lengthy but great & funny post...
yeah but "JimMi" doesn't go well,

"Mijim system: the road to financial freedom" sounds much better.
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  #40051  
Old Aug 6, 2009 3:33am
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Originally Posted by joelcf View Post
lol. In all fairness, that is only the entry/trade management side. The complete JamMiRacJimGh Wizard MCD system is going to compound your account so fast it will collapse on itself and create a black hole
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  #40067  
Old Aug 6, 2009 5:11am
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Originally Posted by tradertt View Post
How do you guys play BEOB or BUOB? Is is following the break of the bar or at the close of the bar?

IF it is a bUOB, where should the PPZ be?
I'll answer your pm via this post of yours tradertt as you've almost asked the same thing here...

Outside bars do work...in fact on the reliability scale they are next after pin bars which take up the first place...

They are played at the break of the bar high/low.

But just like pin bars, a bar that takes the shape of an outside bar isn't all that matters...location including evidence of ppzs and confluence intensities all will point to or against a potential trade.

Importantly if for some reason you do find yourself uncomfortable with this particular variation of PA bars you are more than free to avoid trading them for now, and instead just watch them where they occur and how they play out, if even after that you don't feel like trading them, ignore them from there on...

Being comfortable with whatever you do while trading is the KEY. I get rid of my pants sometimes when it's hot as hell and I can't stop thinking abt the itching my tight jeans can cause...when it comes to trading...you have to be absolutely complacent.

Take Ryan for example, we have quite a few of his followers trading or wanting to trade other pa setups along with the pin bars he takes, but for him....it's the pin bars that he is most comfortable with, and he doesn't give a damn abt anything else and neither should you, if that's how you want to operate.

Ghous.
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  #40083  
Old Aug 6, 2009 7:15am
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Originally Posted by tradertt View Post
I am fine with taking these bars except that I was confused about where the PPZ and confluence should be.

Just to check, for a BUOB, does price have to be in an uptrend (continuation) or can it act as a reversal pattern too like what Jaroo showed.
Ok Great.

They can work great as reversal patterns too...(take a look at the weekly Cad/Jpy as an example)

Ghous.
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  #40084  
Old Aug 6, 2009 7:18am
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Would assume that the bar in the picture is NOT a BUOB right?
that's right, those are just indecision bars. for an outside bar the body (i.e the gap between the open and close) needs to be of a considerably long so as to make it appear authoritative and pointing towards one of the 2 either the bulls or bears strongly, it's only then that the bar can be traded safely,

g.
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  #40087  
Old Aug 6, 2009 7:32am
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Originally Posted by tradertt View Post
For your Expert approval on my drawing of PPZs.

This is my first step in setting up my charts daily.

I will start from the Weekly Timeframe, find 2 PPZs around price,

Move down to the Daily then to the H4

I tried to match the PPZs to the Whole numbers (ending with 00) as much as possible as I see from Jarroo charts, is that advisible or should I leave them at their odd numbers?

P.S. for the H4 time frame, I cannot find a Good PPZ level below the current price so I just used a Support level.

If anyone can advice if the drawings are correct,...
OMG! Those are great bro,

Abt the rounding off, it's a personal thing, I personally don't do it specially for higher time frame ppzs but rather like to draw them using the rectangle feature so as to accomodate the actual ppz and the round number in a res/supp "zone"

Cheers.
Ghous.
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  #40089  
Old Aug 6, 2009 7:40am
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Originally Posted by tradertt View Post
Last picture:

I then added Fibs into the picture to get confluence
So does it mean that if a PA forms at these 3 levels, it may be a good place to take the trade (Of course depending on what PA happens) but if a PA forms at 1.0900 as there is no confluence, I should not take the trade?

I keep getting confused about Confluence

If we see a PA happening only at a PPZ with no Fibs confluence, can we take the trade?

What if we see a PA happening at a Fibs level with no PPZ, can we take the trade?

What + What = Confluence?

I understand from a previous...
Lol.

Confluence is defined as "lining up of supporting trading tools to assist you in a trade"

Sometimes all you have for confluence is a single yet very strong ppz, or only a very round number, sometimes only a fib and/or ma or any combination of these...

For me personally if the PA setup has no problmes in the shape or space department only a round number or a distinct ppz can convince me to take the trade because these are the 2 most strongest of your trading tools.

Morever it will depend entirely on the trader and his assessment of A+ and the less than A+ location setups to draft a "confluence check list"....and because it differs from trader to trader it isn't as easy as asking the question out here, you'll have to work on it and see which combo suits you well and again a lot will depend on where you lie on the agreesiveness/conservativness scale.

Ghous.
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  #40092  
Old Aug 6, 2009 7:46am
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Originally Posted by tradertt View Post
Hehe sorry just 1 more to ask:

It is regarding USDJPY H4 time frame
What I would look at is a close below the 50 fib on my chart and the yellow ppz. If it can do that the pin bar would be extremely appealing...given the range bound recent PA.

Ghous.
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  #40098  
Old Aug 6, 2009 8:01am
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Originally Posted by hipcio View Post
Yes, I did but instead of profit I received a mail

Your order #4485784 (BUY STOP 0.01 EURGBP at 0.8536 was deleted due to the market price breakout.

what shell I think of it?


Who's the broker?
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  #40102  
Old Aug 6, 2009 8:06am
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Originally Posted by tradertt View Post
Ghous, I was just studying your picture. What Confluence do you have above the BEOB to make it a tradable one?
The beob occurred at the 125 level, this was the only time price made it to it...

the highest swing high in decades...
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  #40103  
Old Aug 6, 2009 8:08am
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Originally Posted by hipcio View Post
Admiral Markets (EU licence)
this...

Quote:
deleted due to the market price breakout.
is pretty annoying,

Were they able to give you a reason for this?
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  #40105  
Old Aug 6, 2009 8:10am
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Originally Posted by StoragePro View Post
EURGBP 1hr Chart.

Notice the PB prior to the news? You had only the last few minutes of the hour to get your trade on, but the market generally knows in advance.

GBPCAD also Pinned yesterday.

The market knows. Trade PA, or paralyze yourself with news, (There are some news traders out there, but they die young...)
Exactly,

News is price and price is news...

All these stupid releases are "priced in" and if you know PA you have nothing to worry, STO's post above literally SCREAMS that out,
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  #40142  
Old Aug 6, 2009 11:03am
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Originally Posted by kk007 View Post
I have a different view. IMHO, I believe that technical analysis don't necessarily goes with news. They are two quite independent things. It is very risky to trade news based on technical analysis, no matter what method you use. It simply is not high-probs trading. The best method is to prevent important news, if you are trading intradaily.

Yes, this one go very well, but it is more about coincidence.
We never do this...

"trade news based on technical analysis"

News has nothing to do with our trading because for our money where price is going is of far far more importance than why this is why stuff like co relations and news impacts stay out of our way...
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  #40144  
Old Aug 6, 2009 11:13am
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Originally Posted by KissFan View Post
http://www.forexfactory.com/t/2331/p...ml#post2933104

I will trade just about any pin formed off a .618, .786 or .886 retracement # when it rejects off the 150 or 365ema. This will probably be my signature trade from here forward. If you have a period converter, you can find these trades all over different TF's. The higher TF the less opportunities but probably better results. I will need to set fourth the rules of the exit strategy before I share further but I will be posting a chart. This pin was...
Very nice Kiss,

these 2 mas blow it up almost every time they come together...

Good stuff.

G
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  #40150  
Old Aug 6, 2009 11:51am
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Originally Posted by rossbennett View Post
Good potential for a PA setup on the Daily GBP/JPY chart.

I am anticipating a good deal of stops built up under the 160 round number and PPZ for a good clean break.

Ross
160 has got to be the key,

The low of the DBHLC has to breach it to get me interested...

G
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  #40173  
Old Aug 6, 2009 3:57pm
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Originally Posted by kk007 View Post
Mike,

Hope you feel well now!

My PB trading result is poor. I have my fourth failed trades out of 5 now. Again the price just triggered my order and went all the way against me until hitting stoploss.

This is not a technically easy trading method at all for me.

Have to start over! Will see how to.

kk
It's just simple amazing KK,

It's like me speaking a year ago...

truly amazing...

And hang on,
I have something to share...
Approx a year ago from today, I felt something very very close to what Kk just posted above...

This was a time when I had just begun my journey here with the J16 staff...

I had lost 6 consecutive pin bar trades on a live account,

I have a habit of "free writing" whenever I am not feeling normal, I.e when I am super happy or super sad or super exuberant or just feeling like superman.

This is what I wrote on a piece of paper, that I have with me and it will always remain with me, my biggest source of inspiration that came from within me.

A lot of personal stuff, from a mind exhausted, bruised, frustrated, depressed, and abt to give up beyond just trading...




"I've lost my 6th trade now, it's the 4th consective loss making month...Have I gone sick? me, no way....I am not sick. this was a great pin bar at a great location, it was at the ppz, it couldn't rob me of my money....this son of a bit$% just simple can't!! What I did I do wrong nothing! Or maybe these ppl are nuts, why does he have this cool air abt him all the time, this stupid jarroo...he thinks he's top!? he goes abt posting stupid range bound ugly pin bar trades and here I take this great looking pb on euro and it totally fu$$s me!!! there is something wrong with this system! God why did I have to leave Phillip to come to this so called naked trading, I am going to make one last post here and I am gonna bash everyone and their stupid system. to hell with naked trading, Phillip ain't giveing me anything either I just don;t give a damn, trading is not my piece of cake, I was better at online marketing, wonder what Max will think if he get's to know I am getting back into netwrok marketing, duh doesn't matter all of us can get carried away some times....I have to say I have spent the worst days of my life at this forex business. Just no goddamn system would work. And I think i was going to make a living of this one day. see my father smile at me as i share his financial burdens. see my mother being proud of me. see my younger sister going to the best school in town. You're a looser Ghous. All that you aimed for was a dream. you're a stupid 17 year old kid who doesn't know how to wipe himself properly. YOU DUMBHEAD...Ok here goes...."TRADING SUCKS! JAMES! YOU THINK YOU'RE GOOD BUT YOU'RE NOT, YOUR SYSTEM STNKS AND I HATE THIS HYPE YOU HAVE ABT YOU!!!!.....hahahahaha! How I wish he was beside me looking at what I was writing, haha!"

(the last few lines of the writing were blotted with my tears I guess, so I tried to fill in with memory)

Amazing emotions, I was laughing and crying and beating my pillow and writing at the same time. FANCY THAT.

I never ever thought this would go public, but if it can bring you back KK to the same old confident determined poster you earlier were...I wouldn't think twice.

Ghous.
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  #40176  
Old Aug 6, 2009 4:04pm
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Originally Posted by StoragePro View Post
Ghous - that was a work of art.
I've never been that frank and transparent in my entire life...something abt Kk loosing it exactly where I was abt to until I found you guys...made me put it up,

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  #40181  
Old Aug 6, 2009 4:19pm
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Originally Posted by jarroo View Post
Wow. Nice ghous.

I never posted mine either. Your is alot cleaner then mine. lol

I think we all go through this one time or another. Some leave the business forever, while others Persevere.

Glad you regrouped and perservered , ghous.
Sorry abt those harsh words at you Jim,

For some reason it's these that inspire me the most today. lol
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  #40275  
Old Aug 7, 2009 2:05am
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Originally Posted by mbqb11 View Post
haha Jim is really going to get a kick out of that. Because you know how many people have felt like that, or are feeling like that. Inspiring buddy.

Glad you didn't write bad stuff about me HAH
Yeah I wonder why? Cuz as far as I remember I was filled with spite for each and every poster here the seniors specially, you were just lucky I guess lol
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Old Aug 7, 2009 2:07am
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Originally Posted by jarroo View Post
lol That's alright ghous. It's true, I do have a cool air about me.
And this probably is the best part I like abt you ...
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  #40280  
Old Aug 7, 2009 2:11am
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Originally Posted by batesmotel View Post
One Question Ghous....Would you guys not even hesitate to trade a nice PB or BUOVB tomorrow just before NFP? 4hr bar would complete at 8am EST(depending on broker), NFP comes out at 8:30am EST... Just wondering....this is my first NFP with this thread.

GregB
NFP is for me probably the only news that can add to the cons of a trade setup but I know there are many who won't even hesitate to go for a "good looking" BUOB a few hours before the NFP.

Since it's your first NFP on the "bright and sunny side" you should probably look to sit this and a few others out and watch how adorable PA can get. Jig came up with a good post abt "news vs PA" which explains a lot.

Cheers,
Ghous.
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  #40281  
Old Aug 7, 2009 2:14am
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Originally Posted by unlv_tj View Post
I posted something like that about 3 months ago Jigsaw, but I think you are on to something

No one responded back then, so I guess it was over looked....
Wish I was half as organized Unlv

Time and again you can prove this phenomena, thanx for sharing.

G.
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  #40283  
Old Aug 7, 2009 2:18am
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Originally Posted by phpscott View Post
Here is a trade a GBP/CAD trade I was in earlier today....
Scott,

You hit the nail on the head, co incidentally every "Scott" that I meet is one solid person/trader.

The best part abt that trade of yours was that you were aware of the fact that no ppz had balls big enough to cause you harm, once you were 60 pips in the green...

Hats off to you SIR.

I got out with a BE myself,

Ghous.
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  #40286  
Old Aug 7, 2009 2:33am
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Originally Posted by jarroo View Post
Your one of my Heroes, ghous.

You went through that at age 17. wow.

Don't ask me what I was doing at 17. lol
You guys embarrass me

I mean what's the big deal in affording a gf and trading side by side?
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  #40293  
Old Aug 7, 2009 2:53am
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Originally Posted by kk007 View Post
Dear Ghous,

Your post is very inspiring and touching. Thank you so much!

I just wonder what have you changed technically to come out from loss to winning? I believed that before you wrote that on paper, you had already studied James PA for a while. How did you make the breakthrough after the writing?

It would be great if you can share!

Best Regards,

kk007
Well who else could it be Kk,

It was the man himself James16, and before I thought I had just one great man behind me, I was taken by surprise to see a fleet of great men all cheering and grinning up at me,

They taught me to to love, they taught me to live, they taught me positivity, they taught me to care, they taught me abt self belief and what it can do for you...and yeah they did also teach me how to a trade.

Best of all except the trading part, almost none of the material taught to me was ever put in a post. (except by Rac a few times over which I pondered for the rest of the day) It's all around you here in this great atmosphere...

G.
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  #40295  
Old Aug 7, 2009 2:57am
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Default Gj...

Gj has responded well so far...

First by an authoritative DBHLC close and second by the reluctance of price to "fear" the 160 level indicated by the quick hard break and the constant on going battle with it.

Not an A+ setup by any means BTW...but good PA nevertheless...

ghous.
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  #40326  
Old Aug 7, 2009 9:04am
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Originally Posted by ghous View Post
Gj has responded well so far...

First by an authoritative DBHLC close and second by the reluctance of price to "fear" the 160 level indicated by the quick hard break and the constant on going battle with it.

Not an A+ setup by any means BTW...but good PA nevertheless...

ghous.
Lot's of break evens this month, (and a few losses) need to get back on track...

Here's Gj, after an 80 pip drop in the green it comes back and stops me out for 0,

Next...

G,
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  #40327  
Old Aug 7, 2009 9:06am
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Originally Posted by fat_tom View Post
Theres the short down the toilet (well nearly!!)

Man this has got to be one of my most exciting trading days to date!!!

even if its not all going my way!! LOL

I assume its the USD news? not sure what thats gotta do with GBPJPY tho... unfortunatly can't really look at graphs too much... work <..cough..> and all that...

Tom

EDIT: news didn't look that intresting? must be something else? ummmm (Well maybe according to other forums)
Why can't you just look at 160 and say it finally rejected price.

Let's get back to Price Action trading shall we?

G.
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  #40356  
Old Aug 7, 2009 11:52am
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Originally Posted by bundyraider View Post
Stopped out ( for profit ) on my only open trade too.

I've got better things to do than watch for trades on a Friday night. ....I'ma headin' to Open mike night.

Have a good one y'all.
Yup,

Weekend's always nearer than usual every first week of the month.

I too have more to do than watch these crazy bars...

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  #40358  
Old Aug 7, 2009 11:54am
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Originally Posted by fat_tom View Post
Ghous,

Yeah maybe - but I don't think think is a PA response!! more a news one for what I'm hearing...

Its ok - all part of the learning process...

but yes back to PA....

Tom
Whatever drove that,

We know for a fact that our "PA knowledge" can justify it. And for what it's worth it's all that matters.
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  #40362  
Old Aug 7, 2009 12:02pm
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Originally Posted by benji533 View Post
Hey bro...that was absolutely unexpected. ruined my beauty EJ PB on my feed. I am confided it will find resistance at 162.500 and retrace (hopefully will form a new PN with even a longer nose on the EJ).

Just wanted to ask...based on what did you take that trade short? (sorry if I missed any previous post of yours on that). I can't see any PA there...(just something that reminds a PB..lol....did you take it as a PB trade?).

Thanks

Ben
Hey Benji, this (the Gj trade) was a DBHLC, not perfect in shape but the location is what made it special, space was a worry and it did go on tp prove to be too big a problem...

Oh and BTW great trade on the Eur/cad...goes on to once again approve of the fact that a great PA setup doesn't know what time it is

G
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  #40365  
Old Aug 7, 2009 12:07pm
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Originally Posted by scott087 View Post
I don't know if anyone else took this, but here is another trade I took. This is already my second trade this month, which is unusual because I usually only take between 1 to 4 daily trades per month.

GBP/CHF daily DBHLC. Price broke hard and hit the first trouble area and reversed. See chart.

Sorry for the blurry chart, I'm still working on a fix.

Scott
Nice one Scotty,

Since you're using mt4, I would advise you to use the "Save as picture" option that mt4 has...What I do is I save the picture in 600 x 500 frame and edit it to add text or whatever using the paint software you could also use Jing to edit it I guess,

The blurring you see is probably because you're using a big monitor and trying to capture the entire screen...

Let us know if this works,

G
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  #40367  
Old Aug 7, 2009 12:18pm
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Originally Posted by scott087 View Post
You're right about the large screen, I have large monitors (all at a high resolution) for my home setup. On my computer they look fine but the forum compresses and blurs them, so I'll be saving them in mt4 like I used to and annotating them in another program.

Thanks for the help guys.

Scott
Yeah yeah ok ok...

You have a good setup but mine's not bad too...it's a 14 inch magnificant monitor and it's like 10 years old,

uh...oh...I mean I admit I am jealous.



(I am yet to step on the proffesionalism gas!)
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  #40369  
Old Aug 7, 2009 12:23pm
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Originally Posted by rossbennett View Post
Ghous,

I too took this trade, but ended up taking a 130 pip loss. I see that you got out at BE. Please advise as to your thought process for where and why you moved your stop to BE.

The first trouble area I see is at the 157.80 area, marked by the blue area. I entered at 159.85 with a stop above the highs. My plan was to move my stop to BE when price hit 158.60 (the lower range of the large BUB)

Perhaps I should have targeted the first round number, 159, for the area to get my stop to BE.

Please advise Ghous, thanks!

Ross
Hi Ross,

It reversed on me when it was near 80 pips.

On an NFP Friday on the daily time frame when you try and tame a beast like Gj, you've got to have yourself covered...completely!

My first target area was the 157 level, and it was here where I would have taken some off, but no way was I going to wait that long to give it a free ride, I moved it to BE the moment price was up +50,

Like I said before I do tend to be a little cautious on NFP days, on another day I might have let this run (and it probably should have) today I wasn't prepared to do that...

G
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  #40370  
Old Aug 7, 2009 12:25pm
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Originally Posted by scott087 View Post
Hey PA is PA and it doesnt matter what size screen you see it on. Although I must say it is nice to see beautiful PA on a large screen staring you in the face

At the rate you're going I'm sure you'll be able to upgrade your setup soon enough

Scott
I'll be all over the thread and the forum with pics and specifications and what not in addition to dancing around like crazy when I do upgrade...that's for sure

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  #40375  
Old Aug 7, 2009 12:34pm
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Originally Posted by fat_tom View Post
Ghous,

I guess I'm was saying the move was larger than than the indicated PA and not all moves can be predicted via PA (not saying this one wasn't however) - disasters are a good example... but yes a large amount of the time PA is there. This is in line with the TA vs fundie debate and not one which I want to start! - I am firmly in the PA camp - but I'm sure a lot of folks make good money from fundemental trading...

am I making sense? - if the news was the 'other way' then I'm sure the charts would have went the other way as well no? even if...
read the J16 thread with your right eye and have your left covered with one hand.

Now view the same thing with your left eye and cover the right one up.

What do you see? Any difference in the 2 visions?

The "technical vs fundamental" debate is really as meaningless as debating that the 2 visions are in any way different

Again not at you Tom,

just sayin'
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  #40379  
Old Aug 7, 2009 12:43pm
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Quote:
Originally Posted by rustyjeff View Post
All I use is my macbook & an extra monitor (19")..
i'm not very computer savy but hey!! it works... I'm pretty sure s/r & pa looks the same..no matter what. Just not as sexy maybe??
Oh common Jeff, yes the bumpy rides and sea storms won't allow you anything better then that on board...

What we want to know abt is your setup at the "Jeff Mansion"
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  #40387  
Old Aug 7, 2009 1:00pm
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Originally Posted by rustyjeff View Post
yep... I still get angry at excel when it doesnt give me the numbers I want.
stupid software.....

I was sposed to be rich by now.
Same here quite hoesntly,

Just can't work on excel...
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  #40408  
Old Aug 8, 2009 1:17am
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Originally Posted by Rocket! View Post
Hi there. Time for another one of those awkward first posts.

Firstly, I just want to say hello to everyone and thank you all for contributing to one of the most interesting threads I've ever seen. I get the feeling that stumbling across this thread could be the catalyst to a series of life changing events for me. I really feel there is that much potential in the methods that you all preach here.

My plan of action is going to take time but I believe the wait will be worth the rewards. At the present time, Im studying for an exam at the end of...
Hi Rocket,

Welcome to the thread and congrats on your first post!

Thank you for your kind words, much appreciated,

Looking forward to your posts,

G.
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  #40410  
Old Aug 8, 2009 1:39am
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Originally Posted by jarroo View Post
Hey guys I respect your pickiness. But I put this one in the "A" catagory.

Nice work on showing the Pros:

Strong Monthly PPZ level; 1.7000.
Fib 61.8% confluence.
50% retracement confluence.
Off recent Highs.
Sure the size could be bigger but its closely equal to or greater then the size of recent bars in the last few weeks.
Top of consolidation of the recent weeks.

This last one is where it gets a little tricky. The traffic in the consolidation. How strong the break is (momentum) and how Price behaves at these levels in blue (zoomed...
This seems a problem to me,

It hasn't really formed off the highs but rather it's over and above the highs,

But given it's off 1.7 it might still be very much playable...

just suggesting that one of the pros might in reality be a hidden con...

G.
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  #40415  
Old Aug 8, 2009 4:22am
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Originally Posted by berisinc View Post
Hey Ghous and others,
Just curious, am i right if i said it is a PB?
Is it tradeable?
Thanks..my third post?..
Hi Berisinc,

Technically a Pb? YES

Tradable? Probably No.

For the first few months you're at it you must make a conscious effort to go for the very best of setups.

The idea for newbies at least is to be super conservative, stay on the higher TFs, go for the few A+ trades and maintain the win rate at 90% or better...

The energy that this generates can be enough to power you for the rest of your trading career...

Newbies often fail to realize this dead simple formula

According to this concept you did the right thing by looking at the weekly chart for setups but even "stopping" at a pin bar like this can have detrimental effects on your long term success...

Pick the obvious ones at great locations and leave the advanced "less than A+" stuff for the right time.

All the best

G.
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  #40424  
Old Aug 8, 2009 11:33am
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Originally Posted by Jazflyer View Post
For those who shorted the D1 PB and closed out at BE, myself included, the now forming H4 bar may end up to be a decent DBLHC bouncing at the 50 fib ret level of the previous up-move.

Guess that brings up another ?. While the high of daily PB has yet to be violated, indicating the end of it's validity, when would you consider taking a long position, such as the DBLHC forming now on H4? (Assuming it stays as one upon it's close of course)

I ask b/c I feel like I'm trying to make something happen albeit with supporting reasons.
Long is out of the question for me Jazz,

Unless I can see some some real real good PA at the 4h perhaps (the DBLHC is far from being one) which can off set the gigantic negative factor of going against a down trend which only just seems to have resumed

Remember that at the end of the day, it's all abt going with the "overall momentum" unless you're a scalping geek.

All the best,

Ghous.
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  #40425  
Old Aug 8, 2009 11:36am
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Originally Posted by Rocket! View Post
Thanks for the warm welcome guys. Much appreciated.

Heres that weekly pin on CAD-CHF from last week. I had my sell order in on the break of support at .9845. It broke this with good momentum on friday morning after testing the .9855 level on a few previous occasions during the week.

BUT...being a NFP Friday and all, anything can happen and this sucker went straight back up like a raging bull to end the week hovering at the psychological resistance point of 1.0000.

I realise I could have had .9800 marked as my first target zone(which I probably...
Good decent chart Rocket,

How I wish I could have replied to your queries but my monitor won't allow me, It's flickering so bad I feel it's gonna burst...

I'll see how soon I can get this fixed...

Can't blame him though, dear old friend supported me 14 long years (pat pat)

And anyways there are better ppl out there to respond...

You're on the right track is what you need to know

G
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  #40430  
Old Aug 8, 2009 2:22pm
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Originally Posted by StoragePro View Post
Happy Saturday everyone.

I have been reading some of the commentary and would like to encourage our newer and learning traders to make simplicity the watchword.

You'll read some of the seasoned traders comments and they will often wax eloquent on some of the finer details and possibilities. And while doing this, never waver from the conclusions gained from the the simple PA as it presents itself.

Why do I say this? Because it is frightenly easy to lose ourselves and our bearings.

Hence -

Look at the location PA is at - PA that is solid...
True,

very true...
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  #40431  
Old Aug 8, 2009 2:23pm
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Originally Posted by jarroo View Post
That's the beauty of this potential trade. If Price breaks below the PB, the 1.6700-1.6600ish area will now be a nicely formed Weekly PPZ level i.e. PPZ level as your friend (red lines). I am very aware of the potential up move Price can likely move (blue lines). But the added confluences supporting this PB gives me the green flag.


Thanks ghous.


Jim
Sure,

And then if price can give us a "quick hard jarroo" style break, the 166 should hold nicely as resistance.
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  #40435  
Old Aug 8, 2009 3:01pm
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Originally Posted by Rocket! View Post
Thanks for the words of encouragement Ghous, means a lot!

Hope your monitor gets a fresh kick of life. Although, at 14 years, its put up a fair fight! They don't make em like they used to eh? Maybe its telling you to invest in that pro set up you deserve. Lets hope you get another 14 years out of that when you do!

All the best

Dermot
hey there,

It's breathing well for now so let's go through your post...

just for reference this is post # 40419 from Rocket.

Quote:
hanks for the warm welcome guys. Much appreciated.
Our pleasure.

Quote:
Heres that weekly pin on CAD-CHF from last week. I had my sell order in on the break of support at .9845. It broke this with good momentum on friday morning after testing the .9855 level on a few previous occasions during the week.

BUT...being a NFP Friday and all, anything can happen and this sucker went straight back up like a raging bull to end the week hovering at the psychological resistance point of 1.0000.

I realise I could have had .9800 marked as my first target zone(which I probably should have!) as there has been previous PA in this...
I would want you to read what STO posted a few posts above this...stuff worth more than it's weight in gold, and my response to Jazz's post before that

Cad/Chf was no where near a trade you could risk your money on given the stage you're at.

A side way's market and lot's of spatial concerns, these trades although not entirely untradable require immense experience and skill in their management. Your thought process needs to be clear as crystal and your reflexes against anything that the market has to offer need to be ultra honed.

The fact that you're still in this trade with all cards on the table when you should have really just taken some or all off at the 9800 level goes on to suggest you're far from well equipped to handle such situations, and honest to God they can be as subtle as you can ever imagine...

for newbies the equation simplifies to "less than A+ = No trade"...that is if your greed and impatience will allow you to swallow this

Quote:
One of the first things I see at fault with my chart is that there is almost definitely too many lines fluttering about. I'm not too confident in my drawing of major PPZ zones yet, and would appreciate any advice people have to offer in ensuring that I only take heed of lines that WILL lead to A grade setups.
I would highly recomend the PA videos at the J16 PF guest section, Jim did some class acts with these "friendly zones",

besides just make sure you only have the needed lines that lie around current PA, the really obvious ones are very few...keep your charts bare so you can watch price carefully rather than tilt sideways and peep through MAs and loads of fibs or pivot points, all these can come in and go away as and when a trade setup develops or diminshes.

Quote:
What I had been previously doing was looking at the weekly and monthly charts and plotting visible areas of support and resistance often where price consolidated for a while then with SBR or RBS.
That's still the way you should do it, a line or 2 on the monthly, another 1 or 2 on the weekly and the daily and that's it...

Not sure what you mean by SBR & RBS

Quote:
One last thing to note is that the current weekly bar is tough to read. It could be a bullish hammer pattern and sign of the continuation of the current bull trend. Or it could be interpreted as the bearish hanging man pattern. Both patterns arnt the most reliable but noteworthy all the same.
To hell with it,

We're not here to trade or read every bar, what we need is the general direction and few prominent PA bars leading the way,

If you're worried abt your current trade, you should just let it hit your SL if it does and learn from it,

Gosh I love my loosers, they teach me, the winners just make me so godamn proud of myself for nothing

Quote:
Heres the chart. Pardon the messiness
It'll go away,

your's is still far better than how I drew it for the first time, I remember Pming James abt a serious problem, I could not trade even on the 4H (let alone daily and above as was instructed to me) because every trade had at most just 20 pips till the next ppz/trend line I wonder If he still has it...lol

right that's it,

See ya around Rocket,

Ghous.
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  #40448  
Old Aug 9, 2009 1:11am
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Default Eur/Cad

50 fib, (ppz)
A+++ BEOB
with the trend
clear first target
advantage of a tighter SL (above the 50 fib ppz)

g.
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  #40600  
Old Aug 11, 2009 2:58pm
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Hey Guys,

How's life?

Just walked in with my monitor and set it up. (I still have my old friend with me )

on to the catching up part now...

EDIT: Nice trade on the Gu those who went for it.

g
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  #40601  
Old Aug 11, 2009 3:01pm
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Quote:
Originally Posted by LasVahGoose View Post
Update
Well, the pin did break and went to where you'd expect. Stopped out at BE+1
PinBar is technically still in play, but going to stand aside, for now. Bias is still long.
Risky...

But your trade management was commendable.

That is what needs to fill in for less than A+ setups,

Good stuff LVG
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  #40792  
Old Aug 12, 2009 2:14pm
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Quote:
Originally Posted by tradertt View Post
Took 2 IPBs today based on GHOUS (did I spell your nick correctly) IPB

One ended in profit
The other ended in Breakeven - Think I moved my stop to breakeven too soon. Spooked by the PPZ that was just at my entry

Did I do it correctly?
You spelled it correctly, just that it's not my nick....it is my name. lol

Well done on the trades tt,

Au was a bit ugly, but yet again the power of location (at important ppz) comes to the rescue...

Nice work.

g
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  #40793  
Old Aug 12, 2009 2:15pm
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Originally Posted by salisa View Post
I can't remember who said it but it went something like this: losing is what traders do while they wait for the great A++ set-ups... oooh so true. nothing last week only for a hatful of points to come along this week... does a pin ever look better than this?
MY DAMN WORD!!!

You won't see one as sweet as that for a loooonnnngggg time,

Beautiful setup Salisa,

thnx for sharing,

g
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  #40794  
Old Aug 12, 2009 2:20pm
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Quote:
Originally Posted by caseyjw View Post
Warning - not a price action trade

took this as a Jacko-style "trade with the trend" long on EURUSD, saw a dip below 1.4100 and set a buy stop with a 50 pip SL per his style, off the daily chart...

Woke up to nice move and noticed this pinbar on the 4H.... anyone here in on this one??

Casey
good stuff,

Love the way Jacko attacks those round numbers.

We have quite of a few "round numbry" fellas here too...Mike e.g treats them like his wife.

lol

Ghous.
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  #40800  
Old Aug 12, 2009 2:57pm
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Quote:
Originally Posted by nasir.khan View Post
Hey ghous glad to see you.

you were really busy today.
I've been busy throughout the week...
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  #40868  
Old Aug 13, 2009 1:56am
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Originally Posted by tradertt View Post
Thank you and sorry for the NAME CALLING lolz

Thank you for introducing me to IPBs. Great setup.

By the way, you say you look at Multiple Bars to make up a PA, care to share a little what it looks like?

Is it like those 2 bars setups I posted?
Hi tt,

Yeah those multiple bar setups are the 2 bar 3 bar PA setups we often talk abt, nothing new...

Let us know if you have any problems with them.
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  #40869  
Old Aug 13, 2009 2:08am
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Quote:
Originally Posted by tac View Post
EUR/AUD looks good to me on a PPZ and with trend.

Update: I have placed a pending order for the break of this. if it breaks 7000 and then the bar lows it could be a continuation of the trend.
Hey Tac,

Did you notice that there is more to this "res/supp zone" than just the 7000 price level?

You've got to be a super aggressive trader, to take a Bearish Pin bar near a swing low running immediately into the most important of long term ppzs for the pair in recent times.

Just a thought...



g
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  #40915  
Old Aug 13, 2009 11:45am
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Quote:
Originally Posted by triger88990 View Post
I have finally decided to have myself an avatar picture like many of you, I think you'll recognize my faster

like that motto: " a picture is like million words" or somethink like that


NACHOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOO O is back

have a sit Ladies and gentlemen


lol,

Try tattoing a "P" across your chest...

Pip man on the move.

g
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  #40918  
Old Aug 13, 2009 11:55am
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Quote:
Originally Posted by salisa View Post
stopped out on UC... looking back it was not really a good trade but it turned a profit with very tight management... onto doing what I said yesterday: "wait until you get a decent set-up"!!
108 was always a serious concern,

Like StO said it still did what it was supposed to do, and those experienced enough to handle such setups will no way loose on this...

Amazing how something as simple as "wait until you get a decent set-up" can take sooo looong to get drilled in, It's been more than 1 year down the road and I still at times struggle with it.

G
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  #40920  
Old Aug 13, 2009 11:57am
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Quote:
Originally Posted by Pipfox View Post
Well done Tac, that must be around 800 pips. You have done well to hold on to that one!
He's talking abt the Wednesday pin bar pipfox, which should be around BE currently.
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  #40928  
Old Aug 13, 2009 12:15pm
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Quote:
Originally Posted by Grover View Post
Haven't talked about the weekly pin on GBPUSD, so I was wondering where everyone was in it (to those that took it of course). I got stopped out for a whopping 12 pips today after being up over 200 at one point. Since I'm still trying to figure out the 'take profit' side of this, should I have moved my stop up even further to get more pips, or did I do the right thing in leaving it around B/E until the weekly bar closed? I couldn't even really use the two-bar stop method on this one, since there wasn't enough bars yet (on the daily). Should I have...
I didn't take this trade myself, but here's what I would consider a trade well managed...

Step 1:

Enter 20 pips below the weekly Pin bar low (the red line on my chart) and watch for a "sustained break"

Step 2:

Take half off at "TP 1" marked on my chart. This would be around 230 pips,

move the SL -230 pips for the remaing half (blue line on my chart) so the worst you get is a BE on the trade.

Step 3:

Let it do it's thing.

***___***

Notice how you are bringing into play the yellow ppz (on my chart) and playing around a less than A+ setup (in terms of space concerns) in a nice well protected environment.

Just one way to have skinned this cat,

Again practice is what makes a man perfect.

Ghous.
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  #40930  
Old Aug 13, 2009 12:25pm
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Quote:
Originally Posted by triger88990 View Post
actually this is a great idea......... lol

after making the adjustment I'll be like James modifie avatar


I'll upload the new NACHO in a moment
Here's one you could use.
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  #40937  
Old Aug 13, 2009 1:37pm
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Originally Posted by batesmotel View Post
does this quailify for a Ghous bar?
It sure does Greg,

Ghous.
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  #40939  
Old Aug 13, 2009 1:51pm
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ghous,

Would you take a IPB so late in the day? Just wanted to check.
I wouldn't.

But that would be because of my inability to "look after" an intra day trade, (assuming "so late in the day" refers to the asian sessions which is night time here where I live) rather than any doubts regarding the validity of the setup.

Quite clearly a good setup doesn't know what time it is.
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  #40941  
Old Aug 13, 2009 2:04pm
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It sure does Greg,

Ghous.
It's now kissing the first major trouble area the 8400 round number,

Realizing this should it be allowed to fire at us? NO!

I'd be managing the trade accordingly...(stop to BE at least)

G.
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  #40988  
Old Aug 14, 2009 6:50am
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Quote:
Originally Posted by jarroo View Post
You have any questions 4xkiwi?


I got go. lol
Bad Boy!



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  #40989  
Old Aug 14, 2009 6:52am
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Originally Posted by salisa View Post
I have seen a few posts about silver and gold as well as oil and ther commodities... is it fair to say that the J16 pa will apply to all these? as they dont seem to translate that well to equities....
It always does Salisa,

It's just that the gaps between bars make it look untidy, but PA rocks...absolutely anywhere!

PS go through the last few posts of James16, he mentioned a non-fx chart where he took a gr8 looking BUOB off a sweet double bottom.

EDIT: here it is:

POST

It was a stocks chart he threw in I guess...

Ghous.
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  #40992  
Old Aug 14, 2009 7:01am
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Quote:
Originally Posted by forexrex View Post
Hey there,
I'm new in here. I'm interested in FX and
made some successful experiences with a
demo software.
Now,before I'll take it to the next level I'd like
to get to know more about trading strategies.
Does anybody know a good page, book or sth. where
stategies are well explained?
To me you all seem to be professional traders.
Where do you have your skills from?

Best regards,
F.
Hi Rex,

and congratulations on your first post!

If you've had a good experience at a demo account than you really should know how you trade, the questions you ask are precisely what a demo is utilized for,

If you haven't found solutions to these questions yet, your demo needs to keep going and all "moving to the next level" thoughts need to be kept aside.

We got our skills from James16, but duh! He didn't place a charm on us, he showed us the way and we found ourselves the edge over the majority of traders that fail in this business, by putting in the efforts and time it required.

ghous.
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  #40993  
Old Aug 14, 2009 7:13am
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Originally Posted by nasir.khan View Post
hi ghous,

Take a look at pin bar at GJ should we take it or if not why.
The 4H one?

No more trades for me now...it's kinda late into Friday, (the bar doesn't break after more than 2 hours at my feed....typical late Friday stuff)

it's far from "the really obvious" anyways...

with that long upper wick it gives off that indecision bar aroma,

A hard break might still make it playable, but it isn't a setup in my court.

ghous
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  #40997  
Old Aug 14, 2009 8:06am
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Quote:
Originally Posted by batesmotel View Post
Nice! breakout on NZDCAD triggered my BUOB buy AND took out my TP1(in 1 hour)...SL to BE....letting the rest run.

http://cloud.forexfactory.com/attach...1&d=1250209595

GregB
You're nailing them perfectly Greg,

3 months down the road and you're throwing in gems like these into the mix,

Oh and did I tell you you're an above average learner...I was and still am only average which makes me feel you're going to go a looonggg way!





Ghous.
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  #41027  
Old Aug 14, 2009 2:13pm
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Quote:
Originally Posted by fat_tom View Post
Guys/Girls,

wanted some advice on wether this is qualifies as a DHLC type formation?

the second bar didn't retest the highs of the first bar it was already there so to speak? so is this some sort of hybrid BEOB/DHLC combo?

just wanted to know if this is valid PA? - not necesserliy if its a valid trade if you get my meaning!

Thoughts?

Tom

mbqb11 will better assist you on this,

but I for one tend to be extremely cautious with all these "less common" PA setups. As yu rightly pointed out the DBHLC doesn't comply to a "perfect" DBHLC shape.

The logic behind using this particular pair of bars as an entry trigger lies in the event that the first bar touches a ppz and closes below it. The next bar does the same and finds res/supp near or at the previous bar low/high and bounces in the opposite direction with authority (extending further than the first bar). This is clearly a good indication of supp/res at a ppz which is the base of our method here.

A lot of times when trying to assess the validity of a PA bar keeping the basic definition of the setup in mind can be really helpful.

ghous.
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  #41030  
Old Aug 14, 2009 2:29pm
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Quote:
Originally Posted by mike w View Post
This is true for sure. Put a buffer of 15 or so pips on it and THEN check out how many false breaks happen (quite a few less).

It's just like a trendline. Trendline breaks happen only to return and follow through along with the trendline. What makes this any different? That's why nobody in their right mind would put a stop right on that trendline..right?
You're teasing us Mike.

lol

Can't wait...
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  #41055  
Old Aug 15, 2009 1:34am
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Quote:
Originally Posted by rustyjeff View Post
....

When you come up with your simple plan.. put the trade on & set your stop & set a target then leave it alone... dont touch it until either the target or stop is hit... LEAVE IT ALONE..


...

The biggest, most succulent and the sweetest cherry of em'll

Fortunately one of the major contributors in my early days salvation was Rusty Jeff. It was this very line (quoted above) back then which has probably made the biggest difference in my trading.

Even today I will sometimes tend to diverge from my original plan, and the losses that follow soon after make me feel like this very line jumped out of that sticker near my monitor and slapped me across my face.

Keep them coming Jeff,

Agree with jarroo, post 1 material.

Ghous.
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  #41056  
Old Aug 15, 2009 1:44am
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Quote:
Originally Posted by mike w View Post
here's an example of an IB on the daily chart. This is 8-04-09. Eur/usd.

Here's where most people get messed up with these. You enter when the next bar breaks high or low. Still following?

Now check this out. Tell me WHY would ANYONE do that?

How about after looking at the 4 hour chart? Do you notice anything? These are serious questions to answer. Notice the blue rectangle.

Why would you take a trade based on a break, but not a close below, of that IB? That's suicide as the range could just be widening a bit.

Personally, I'd rather...
yeah Fair enough Mike,

I'll be looking into it...

Thnx,

g
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  #41063  
Old Aug 15, 2009 5:41am
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Originally Posted by jarroo View Post
That would be just an Inside Bar. Nice Bullish candle before it, almost a BUOB or Triple Bar Low Higher Close. Maybe building momentum to continue the short term uptrend. Or stalling out to drop and continue the longer term down trend.

Yes nice location.
Completely agree,

Just like it cannot be called a bullish Pin bar it cannot be called a bearish IPB,

An IPB is a pin bar, and has to come along with all the characteristics of a pin bar to qualify as a valid inverted pin bar.

The bar Verno pointed out is just an IB.

Ghous.
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  #41065  
Old Aug 15, 2009 6:19am
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Quote:
Originally Posted by ljr View Post
Hi All

I have been short from the weekly pin 2 weeks ago after my order triggered last Friday at 9825 Price retraced quite sharply but I had decided to give this a bit more room being a weekly trade.

Chf seemed to be strong yesterday against all other currencies which has favoured this trade and a BEOB has now formed on the Weekly.

As the price closed yesterday near the weeks low I have now closed this trade. Reason for this is firstly I expect to see some retracement and secondly I think the BEOB could be traded so I can get back in around...
Why else do you think James recommends higher time frames to get the real hang of price action?

Holding on to your analysis, your trades, your thoughts, is so damn important. And nothing can teach you this better than holding on to a trade 100 pips in red for 5 days in a row and then going in the right direction finally.

Here's an example similiar to what Ijr posted above, I was short Eu off the weekly Pin Bar, huge resistance at 1.43, close below 50 fib, a bearish IPb right next to it...the idea was and still is to catch the ride with the bears...

All this week it kept me in the red, at most -150 (only a few pips from my SL), but still managed to close as a decent indecision bar,

Point is, when you make a plan you need to stick to it...Jeff talked abt this in his last post and this is just one more occasion where "sticking to the plan" does appear to work..

How to master controlling emotions? You guessed it. The higher time frames.

Ghous.

EDIT: was not aimed at you Ijr, just a general thought. The reason your trade ended up as a loss for you is pretty special. We hope to see him/her on the thread soon.
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  #41074  
Old Aug 15, 2009 12:58pm
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Originally Posted by faces View Post
Hi everybody

I've been reading sporadically through the thread in the last weeks, while going through a losing strike and seeing...
Hi mate,

Welcome and congrats on your first post.

Glad you don't begrudge the higher time frames like a lot many do specially when they start off.

2 bar 3 bar PA formations work just as good as a single bar PA formation.

So considering the 2 weekly bars on Uj as a single pin bar is not a bad idea,

Abt trading it,

I don't see it off any major fib level (50 or 61.8) or MA, but given that it's with the trend, it is still very much playable IMO at least down to the 9200 level...

Cheers and do post more,

Ghous.
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  #41096  
Old Aug 16, 2009 3:59am
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Originally Posted by fxvision View Post
Hey SP. Nice to see you too, thanks. Had some personal stuff I had to take care off. Below is a view on the hidden divergence on the weekly chart. Weekly 365 also in play.
Ah,

Welcome back Fxvision.
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  #41098  
Old Aug 16, 2009 8:09am
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Default IBs and their trading

I was back testing with some IBs this weekend and the results are pretty good,

Looks like It's time we should put aside the cliche that "IBs are subtle and difficult" and look into the stuff we already know to trade these beauties...

I am now completely with Mike (mike w) when he says that a pending order below an IB is just a blind trade, and no doubt that by doing this the trader falls into the "false break" trap.

The best way to play them is to find a daily/weekly IB as a consolidation zone on a lower time frame and play a "logical break" where price has to close and preferably retest the consolidation range for a trade confirmation...

These are just a few of the setups I scrutinized, these are all either IBs on the daily or tiny bars like dojis and indecision bars representing the consolidation on the daily itself. Sorry If I am repeating any setup Mike already discussed cuz it's the same pair he did the test on - Eu.

Thanks Mike for a wonderful contribution.

Regards,
Ghous.
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  #41110  
Old Aug 16, 2009 1:47pm
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Originally Posted by tradertt View Post
Hi guys,

Just in case anyone wants to do some testing on Inside bars on Multi Timeframe can use this indicator

Just set the period to 1440 for Daily and 240 for H4

Hope it helps and remember to post any findings here lolz
Would you elaborate a bit?

Like what do you mean by "testing on Inside bars on Multi Timeframe" precisely?
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  #41111  
Old Aug 16, 2009 1:48pm
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Quote:
Originally Posted by MPP View Post
Hi Ghous
and anyone else looking at IB's

each pair has it's own settings and i'm still testing myself, but for EU add a 20sma close with a 150point band (usually needs 1500 & -1500 in the levels box)
long above/short below - enough said.

Attachment 290193


food for thought only.

regards

MPP
Yeah good idea,

thnx for the intimation.

G
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  #41112  
Old Aug 16, 2009 1:54pm
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Quote:
Originally Posted by Bryan View Post
Please experts critique my noob analysis..........

On weekly I'm seeing a BUOB at the 365 and at a past strong resistance area.

On daily, I'm seeing a BUOB again at the strong resistance area. Notice the bearish pin that was quickly rejected at that area.

Thanks.
Bryan
You've got a fair pair of eye balls Bryan,

The best part abt the setup has got to be the location.

And we know what role does "location" play in the validity of the setup,

Like Kiss said it isn't heading into a "vacuum" but a carefully managed trade should surely yield some sweet pips.

All the best,

Ghous;.
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  #41114  
Old Aug 16, 2009 2:04pm
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Originally Posted by tradertt View Post
Cause what you are testing is actually say Inside bar on D1 and you go down to H4 to see if it closes above the D1 inside bar right?

If that is so, this indicator can show on the H4 timeframe the high and low of a D1 inside bar to do the backtesting.
oh,

I c...

thnx.
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  #41170  
Old Aug 16, 2009 10:42pm
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Originally Posted by mike w View Post
...

I'm thinking of posting up a closed journal with these examples on them from the year 2004 onward for multiple pairs. I'll be starting with the gbp/usd. This will be to illustrate how important it is to wait for that initial candle close underneath the consolidating range.

...



.
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  #41201  
Old Aug 17, 2009 4:41am
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Quote:
Originally Posted by Bryan View Post
Sweet pips indeed. Shooting for 1.7400 area


If I was in this trade I would have booked some profit straight away at where price currently is, the end of that long wick of the failed bearish pin bar should catch your attention straight away...

1.74 might still be on the cards but such an anticipation shouldn't have balls big enough to cause you harm, right Bryan?
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  #41202  
Old Aug 17, 2009 4:42am
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Originally Posted by mike w View Post
Hey Ghous, I love your signature btw. It reminds me of the editor's posts. Check those out, most are golden.
editor's posts? enlighten me??

thnx for sig compliment btw,

it's just part of the stuff that clogs up the sides of my 14" screen.
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  #41229  
Old Aug 17, 2009 10:02am
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Originally Posted by supremeChaos View Post
I have.... but not extensively yet.
I'm just sort of checking the threads "outside james16 thread".




He must be referring to Editor & his threads/posts.
Oh I c lolx

I thought he was symbolizing someone with the word "editor", read a couple of his posts and were like a treat.

g
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  #41246  
Old Aug 17, 2009 12:31pm
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Originally Posted by forexrex View Post
Hey benji 533, ghous and finnishforex thanks for your replies. I've never heard about Varengold before? What are your experiences? benji533 and ghous are you using this platform as well? What's a must when chosing a platform?
THX for your help!
mt4 does the job for me. (Fxopen)
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  #41247  
Old Aug 17, 2009 12:32pm
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Originally Posted by mike w View Post
Yes sir, those would be the ones. Sorry it took so long to get back to you, I've been on the charts all morning.
I understand,

the charts don't look this beautiful all that often

Happy pipping Mike.
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  #41249  
Old Aug 17, 2009 12:38pm
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Originally Posted by fxprocessor View Post
One trade in two years.... Now that is SUPER picky :-)

Just catching up on a few posts and great to see you pop up fxv.

Hope all is well.

Nick
Hey Nick,

Nice to see you in the house again bro,

Enjoyed the break?

g
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  #41251  
Old Aug 17, 2009 12:58pm
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Originally Posted by dmc View Post
Not sure if anyone has posted this catching up, I was just on a 12 day European vacation London, Paris, Rome and saw this bad boy this morning but skipped on it because I thought I was justbeing anxious.

I need to grow a pair. I have not been pulling the trigger as much as a I should an am being really picky. This was great though. Nice pin, off a round number and 150 ema with trend should have took it but passed. Need to get back into it and let this rip especially when I use the bar break stop on every trade this thing would be at such minimized...
If I were you, I would still be busy recalling a trip as cool as the one you mentioned dmc.

trades taken, trades missed, trades won and trades lost are all elements that make up your trading,

Sure that was a sweet trade, but regretting your own decisions is what can cause some serious damage to your confidence,

After a trip like that messing your mood up with a trade missed (which we know isn't the worst thing possible) is the last thing you want to do, well except the case where you want to blame your "pickiness" for the missed trade.

Get my point?

Just relax bro, let your thoughts flow, make a decision and embrace it no matter the outcome...you'll do yourself a world of good.

Regards,
Ghous.
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  #41252  
Old Aug 17, 2009 1:05pm
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Originally Posted by ghous View Post


If I was in this trade I would have booked some profit straight away at where price currently is, the end of that long wick of the failed bearish pin bar should catch your attention straight away...

1.74 might still be on the cards but such an anticipation shouldn't have balls big enough to cause you harm, right Bryan?
Hey Bryan,

Hope all went well with this trade of yours,

That wick did prove to be a hurdle a touch too big eh? Needless to say we weren't surprised by the move were we?

g
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  #41257  
Old Aug 17, 2009 1:23pm
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Originally Posted by raczekfx View Post
Got the point. Trading very relaxed now...
WTF?!?!?!





Welcome back Mark.
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  #41260  
Old Aug 17, 2009 1:39pm
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Quote:
Originally Posted by tradertt View Post
Hi guys,

Saw a new price pattern that may be worth considering. If any seniors here can give some insights on this, it may be great to trade.

Three Black Crows. Was just looking at some candlestick patterns and came across this.

http://www.forexbrace.com/content/view/220/73/

There is a indicator there to download. (P.S. This is not my website just something I came across on the net while search for a pattern indicator)

What do you think?
yeah if you're one of those who enjoy going deep into the world of price action, you'll notice several such patterns and bar shapes and the specific locations where they work.

R&D is probably the best thing you can look forward to after mastering the basics....key phrase here being "after mastering the basics"

g
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  #41278  
Old Aug 17, 2009 11:43pm
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Originally Posted by joelcf View Post


The problem is that people get so caught up in the cool names and spotting the patterns (something our brain loves to do) that they dont really consider the underlying movement. What does the candle actually mean? What is the market doing? Where might it go, and where might it stall?



Stick to the basics, friend.
2 of the very best advices Joel. Great post.
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  #41303  
Old Aug 18, 2009 9:29am
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Originally Posted by tac View Post
The problem with trading dailies is you will never build a small account up just trading them, there are simply not enough trading oppurtunites, for account building you need to get down to 1hr or 15min charts, where you can get trades every day. However to get down to them you need to move down from daily to learn pa and gain experience. So it looks like


Get these thoughts out of your mind Tac, you're completely underestimating the higher tfs.

More money lies with the lower time frames but that doesn't come anywhere close to suggest that you cannot build on a small account using dailies. In fact building on an account is much more easier to do on the higher time frames provided you're right on your mind.

Sorry if I appeared a bit rude,

Just had to get this across...
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  #41350  
Old Aug 18, 2009 1:18pm
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Originally Posted by benji533 View Post
I do not like this sentence at all. Are you actually saying it is not possible to make a living from forex in your opinion?

I believe different.

Ben
Guys what's wrong,

All day we've been picking a line or 2 out of a great post and dropped upon it like a tonne of bricks.

I am sure he didn't mean this at all Benji,

Jeez...
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  #41351  
Old Aug 18, 2009 1:20pm
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Originally Posted by james16 View Post
here is something i recieved today.

i very very very rarely do this in the free thread.

im doing this to say something.

success is not a destination. its a journey and a damn fun one if you allow it to be.

example?

my "day jobs" are to numerous to list but they are not "jobs". i do the things i enjoy.

i live and breath for challenges in life ladies and gents.

the thrill of victory and the agony of defeat BOTH make me feel alive.

to many people live there lives in the stands watching the game.

i want to...
Yes,

When Jim quietly sits down at the bottom of the thread for quite some time we know something like this coming...





Good to see you back on the thread Jim.
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  #41354  
Old Aug 18, 2009 1:29pm
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Originally Posted by james16 View Post
lol.

i wonder sometimes if people notice im lurking.


now i know the answer.

jim
I am actually glad Mike was able to get rid of the disease.



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  #41356  
Old Aug 18, 2009 1:34pm
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lol sorry guys.

I have just went through so many trails to get myself a hope for financial freedom in a way I love doing it (not a job, as jim says).

When I see sentences like that it freaks me out

Cheers

Ben
I can understand Ben,

but just so you feel better...

"Yes you can live off trading forex"



Ghous.
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  #41512  
Old Aug 19, 2009 5:37am
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It's been HOT here the last few hours eh?

Wonder why I always have to miss the "heat waves"?!

Great posts by Rac, james16, SP, Jarroo and lot's of other guys...

@ NASIR:

Congrats buddy for nailing one,

I'll get back to enjoy the highlights.

Ghous,
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  #41529  
Old Aug 19, 2009 9:40am
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Originally Posted by benji533 View Post

This one I preferred not to trail, but to take full profit.
Mainly because I was against the main trend, but also because this area is a quite strong support, now also double bottom with strong divergence on daily.

Ben
I really want to get out of this post and pat you on the back Ben,

This is how when and where one starts to "get" it.

Congrats on making to it.

"Staying there" is another thing and your next big challenge...

Keep it up bro...
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  #41550  
Old Aug 19, 2009 1:30pm
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Originally Posted by nasir.khan View Post
I really can't help it. I am trading to much.

Now i am in it again.

Whenever i see a long nose i get excited.
It's ok to be excited if you see a long nose, provided that you don't pull the trigger before sanctioning the location,

So far you've been doing it pretty well buddy,

Ghous.
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  #41585  
Old Aug 20, 2009 2:35am
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Originally Posted by nasir.khan View Post
Good morning ghous.

So i have this thing in my mind that these 2 (1 before LONDON and next one with TOKYO+LONDON) hours set the tone for the day and at LONDON close the trend of the day gets dry. i let it effect my trades.

what do you think guy's.
Morning Nasir,

You could have that kind of stuff in your mind sure, but just don't add it to your "confluence box" yet...

Ghous.
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  #41616  
Old Aug 20, 2009 10:02am
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Hi Guys,

Just wondering if this is a good trade.

I think not, cause there seems to be some conflict btw Daily & Weekly.

Daily Pin bar + 50% ret. Looked like PPZ there too.
Stochastic oversold too.
However, weekly had that huge ass engulfing.

My thoughts were that since weekly was saying "down" chances are that the tide would be pushing downward.

Hence, Daily Pin... not so good.

Comments please! Noob here

Daily on left. Weekly on right.

CADJPY; Daily (left); Weekly (right)
Hi Cyrus,

We want our pin bars to protrude away from the vicinity of PA, meaning they need to stand out from the charts and not be tucked up amongst the bars next to it.

So location was a concern,

Furthermore, look what the pin bar was headed straight into? Yes you guessed it. A distinct ppz.

A quick break would have given the setup more weight, but clearly the pin bar high and the other high that lined up with it proved to be a major hurdle given that they were right on a responsive ppz.

Wouldn't rate that as even a B setup...

Ghous.
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  #41617  
Old Aug 20, 2009 10:13am
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Originally Posted by salisa View Post
yeah nervous now!
Ok - swing low and major historical ppz and with the daliy trend
good shape pin in terms of longish nose but I accept that the positioning of it is't perfect at the body is almost the same size as the previous bar!

1st trouble at 0.9880 2nd at1.009 3rd at 1.03

I like the levels but I would probably like to see a better defined bar (stronger PA) which is why I am trying to get feedback on whether I am looking trades that aren't there!!
You've nailed quite a few good trades recently Salisa,

You would know yourself that this one doesn't come anywhere close to those trades, and that realization is so very important,

Enough said...
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  #41620  
Old Aug 20, 2009 10:23am
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Originally Posted by salisa View Post
Thanks folks - you wait for long enough and you start to see things!!
Exactly,

And that can happen if you're too "involved".

Being out is just as important as being in and is an essential element in your trading...

Just sit back, know your trades and cherry pick them as they come along...it doesn't get any simpler than this...for the person in the right frame of mind.

You've done it in the past Bro, it's one of those times where you need to shake your head and get back on track.



Ghous.
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  #41626  
Old Aug 20, 2009 11:42am
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Default Ej

Ej 1H IPB.

4H PPZ

150 ema on the 1H

With the trend

BOOM!
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  #41705  
Old Aug 21, 2009 7:34am
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Missed a few sitters today, was out at the beach fishing

I expect STO to be all over this...

G
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  #41708  
Old Aug 21, 2009 7:50am
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Quote:
Originally Posted by nasir.khan View Post
Ohhhh GOD missed them all each and every one of them.
You don't need to hang around the IH anyways...

Keep it simple and keep it at the highers till you prove yourself, remember the J16 min requirements?

J16 Min Requirments

Cheers
Ghous.
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  #41714  
Old Aug 21, 2009 9:44am
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Quote:
Originally Posted by LittleLuca View Post
USDCHF 1hr

small buob but already back down there in last 5mins...

But really key level.. this level goes back to Dec2008 where weekly reject hard off twice...

Then back to May2008 where it killed a move up... and rejected off it..

One to watch! Watching the 4Hr and setting some alerts below this level because it really has very little below to stop..
I wouldn't bother friend,

At this time of the trading week, messing around with the 1H can be dangerous,

Outside bars and to a great extent all our PA bars require "momentum" on their side to be able to work like we want them to...

And this basic element can become scarce late on a Friday,

You would be hoping against hope to see some bulls fire off this time of the trading week...of caorse that's not impossible but it all comes down to the very basic qs....are you ready to bet your money on an event like this to occur? I for one would answer this with a big bold NO

Ghous.
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  #41724  
Old Aug 21, 2009 11:01am
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Quote:
Originally Posted by LittleLuca View Post
eu 1hr is a beob (is this? seems like a beob with big wick... not sure how to refer to this)

GU is the same... bearish 4hrs...

And UsdChf 1hr looks a like another buob but not quite a full twezzer on 4hr..!

Also oil looks like one hell of a 4hr PB off highest level this year (i think )

How should the eu/gu 4hr be refered to ? is it a PB or a Beob??
A beob.
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  #41725  
Old Aug 21, 2009 11:02am
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Quote:
Originally Posted by nasir.khan View Post
Time to make the kill.
Your entry was based on that macd of Phil's system?
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  #41727  
Old Aug 21, 2009 11:12am
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Quote:
Originally Posted by StoragePro View Post
Not at that time of night... That would have been one to consider, but to grab these in such a tight range, I would have like that OB to poke down outside of the range into the neighborhood of 1.4200. See the blue line and 'X'.

It went nice too. interestingly, to the Bemac 61.8% ICCE...

...
I c,

Thnx.
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  #41731  
Old Aug 21, 2009 11:53am
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Quote:
Originally Posted by nasir.khan View Post
I saw the Round Top on MACD in 1H and a little pin bar ( in GU specially).
but i was not still in a mood to trade but when i saw the crazy pins in 4H (also GU hitting the 89 ma and coming back) and checked the news (Existing Home Sales (us))
couldn't hold myself.

something wrong with it.
Nah!

Was just confirming that it wasn't a J16 pa based trade...

G.
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  #41732  
Old Aug 21, 2009 11:56am
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Quote:
Originally Posted by benji533 View Post
Got out with 185 pips gain here...Yippee!

I have entered the trade based on triple bottom with strong bullish divergence (I like these setups), and a BUOB off a round number.
So we have the combination of triple bottom, divergence, round number and BUOB.

I was trailing my stops with the BAT on the 1H, till I saw that HUGE BUB. So I decided I will go down to the 30min and placed my stop at a round number, which is a PPZ. When I saw that 30min bearish pin bar I knew I don't want to be in this trade anymore.

My 12 winner out of 13 trades!! But...
Absolutely great going Ben.

It's great when you can get your mind to do exactly what should be done eh?
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  #41734  
Old Aug 21, 2009 12:19pm
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Originally Posted by benji533 View Post
Yea absolutely!

Sometimes I feel I get too much braggart. I don't mean that...but it's a weird situation. I am 16 years old (yea, there is someone younger than you here LOL) hardly 2-3 months trading and its too easy.
I see many people over another forum crying after years of time and money wasted.
At least I got rid of those PONZI schemes and MLMs I was into

I think it's the hand of god Johnny introduced me to this thread! I'm sure.

Ben
16?? Yeah well, knew I wouldn't be the youngest here forever...but never thought it would be a 16 year old beat me at it.

I don't know what else to say Ben except that you fascinate me...you're way beyond your years.

Ghous.
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  #41800  
Old Aug 23, 2009 12:24am
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Originally Posted by james16 View Post
very good.

i had forgotten about that post.

jim
I for one will never forget that post.

Lemme know if you can ship a couple of those to me here,

We don't get these beauties out here

just a few eery snake charmers selling WC rat snakes with their teeth ripped off with a stick moved swiftly right across their mouths while keeping them shut with the other hand, claimed as being "Charmed" and bites "spiritually effaced of venom"....(jeez, rat snakes aren't even venomous to start with)

Thought you should know this jim

G
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  #41803  
Old Aug 23, 2009 12:35am
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Default MLMs and HYIPS

Quote:
Originally Posted by benji533 View Post
hey, thanks. MLMs are not schemes, they are completely legal. I have been marketing an Israeli lottery company...even done quite well. I was advertising myself and spent time with potential leads over the phone - but guess what....no one in my team worked, and they all just cried that they are loosing money. At a certain point I just couldn't tell people that it worth to join after all the other people loosed their money. I decided to quit during the time I was still making a few buck profit from it each month. It was taking all my time....I hated...
MLMs sure make money....the problem lies in the fact that it's not for everyone not because they fail to come to terms with the correct mental state or skill or anything...it's just purely for the talented and those naturally good at it.

Not everybody posses the required "convincing power" that you need in this biz, and unfortuntaley no matter how many e-books you read your knowledge will hardly ever influence your success.

A very close friend of mine has his legs in up to 5 different ML and down line building programs and he makes a fortune...a real fortune with them.

HYIPs are illegal, yes. they are ponzis, yes. they are scams, yes. they go down soon, yes. But again I know a few that make a "living" off hyips. One of them tells me the biz is more abt the "feel" and the incorrect/correct decision of entry and exit that determines your success, this he says "is very much like your (that is me) forex trading, where it all just comes down to experience.

Bottom line:

Money is out there, and it really could be at a hand stretch...for ones who know themselves well.

g
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  #41805  
Old Aug 23, 2009 12:39am
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Originally Posted by supremeChaos View Post

Did u notice how good ghous, mike w & mbqb11 are? except for ghous (who is turning 20 next January--- welcome to the "20's club" ghous ), all of them are in their 20's only.
I am ABSO-FU**ING-LUTELY hating to wave my teenage liFe good bye.

jeez.
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  #41808  
Old Aug 23, 2009 1:10am
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Quote:
Originally Posted by Lou View Post
Yo Supreme...

I've been in the 20s Club for over 40 years.

Was just looking at the E/J Weekly PB on VT and MTAlpari . Price having rejected a large PPZ around 132.
Hey Lou,

Looks like you like to step in when called. lol

Buddy drop by often and make yourself felt a little more

ghous.
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  #41812  
Old Aug 23, 2009 3:49am
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Quote:
Originally Posted by Grousman View Post
Hi all, 1st post. On my 4H EURGBP I don't have a PB. I have a bullish candle. My charts reflect USA EST close (assume its New York). Any advice much appreciated.
Hi Grousman,

And welcome aboard!

You need to trade what you see...

Just like you don't to see the 4H pin bar on your chart that Jarroo has he might not be able to spot a 4H pin bar you see on your platform, so it all balance out at the end of the day.

Because of different opening and closing times of the bars at various broker platforms and different data feeds such discrepancies do occur, some will use multiple broker platfforms to solve the problem but like I said it all balances out in the end,

All the best,

Ghous.
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  #41828  
Old Aug 23, 2009 1:39pm
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Quote:
Originally Posted by kk007 View Post
If you mean risking 150 pip loss for 20 pip profit, as the first initial setting, it is not my cup of tea. I think it is worth only if you believe the probability of initial winning is higher than 90% (80% is not enough).
The way I see it, a break should yield more than just 20 pips Kk,

Looking at it closely I see that the 95.5 ppz is more of a "to the pip" ppz than a really thick "zone"

Jarroo as usual made a great point in that the 9400 ppz is a real strong one which the BUOB/PB is off of.

The close could have been better but clearly the location is what stands out,

If I were to take this trade I would certainly be aiming for at least 95.5 while keeping it nice and tight.

Bear in mind that we do have a left eye poking out of the ppz which could aid in smaller stop placement too maybe...

g
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  #41910  
Old Aug 24, 2009 11:56am
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Originally Posted by mbqb11 View Post
Here ya go, no one I know actually trades off these , but simply uses them for more information
Yes.

You want lot's of these to define a "strong" up trend,

Wonder if they can ever be of any trading value Mike? ...
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  #41914  
Old Aug 24, 2009 12:01pm
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Originally Posted by mbqb11 View Post
I will use them as information for a trade I am currently in. A strong BUB, BEB generally means (as per James) we should see at least a test of that bars high. Good place to watch and see how things develop. It's all little information to make up the book were reading

Mike
I should really line that up to dig into after cracking open the IB nut,

Thnx Bro,
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  #41918  
Old Aug 24, 2009 12:05pm
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Originally Posted by dmc View Post
Wondering if any of you took this. I did and and it is working out nice sitting at about 1:1 already. The way I looked at it was 1.75 was a huge huge level if you zoomed out. the overall trend was down. It broke past 1.75 pulled back and pinned (kind of small) below that level. The pin was at 61.8 Fib. Once again what I think helpe dthis trade was trading toward the least point of resistance and 1.75 was HEAVY! Let's see how it plays out.

Attachment 294631

Attachment 294632
Very nice DMC,

Nothing "Pitbullish" about the pin bar but nothing was "poodlish" abt the location,

Absolutely nailed!

g
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  #41920  
Old Aug 24, 2009 12:15pm
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Quote:
Originally Posted by nasir.khan View Post
I thought that was a PIN BAR.

And no one told me not even you (GHOUS).
Sorry for keeping you in the dark Nasir,

Now that Sto has let the dog out finally,

Here's a BEOB:

()
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  #41965  
Old Aug 24, 2009 7:59pm
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Quote:
Originally Posted by nasir.khan View Post
Hello every one you won't find me or ghous online at this time cause its 4:40 AM here(not sure if he would come online now).


But except for another 28 days cause i am awake to have my meal for the FAST.
Wrong...

Won't miss the action here for anything,

g
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  #41966  
Old Aug 24, 2009 8:05pm
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Originally Posted by nasir.khan View Post
if i may say this is something similar but did't work. Any comments.
This is what you will really have to understand Nasir,

A good pin bar is just isn't any bar with a long nose at one end,

Factors like "a large nose" a "smallish body"(gap between open and close) and most importantly "protruding out of the vicinity of PA" i.e poking out from the range of the bars right next to it...can be extremely crucial.

+

...obviously what Joel said...

g
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  #41983  
Old Aug 25, 2009 3:41am
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Default Pull back entires...

Quote:
Originally Posted by Cyrus View Post
This was one I noticed. I'm not THAT sure about the PB quality (probably a bigger poodle? =P) but it was off weekly Pivot + PPZ congestion.
Limit placed --> total pip risk aft spread = 25pips. Ran up 300pips... could have t/p @ 8400 the week after for a decent high 200+ pips?

You need to be extremely careful with these pull back entries...

A limit order towards the left eye is barely ever sufficient.

What's the point in trying to force yourself to 1:1 when you're compensating the MM risk with being overly aggressive?

I don't attempt these pull back entries anymore but I guess the safest way to play them is to wait for the break up first

I know that wasn't the main point of your post, but still felt I had to get this across Cyrus.

Happy trading,

G
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  #41984  
Old Aug 25, 2009 3:44am
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Quote:
Originally Posted by supermatt View Post
recently I added a chart grid builder that you can set to display horizontal lines at round numbers at desired intervals. I kinda like it and is uncanny just looking back and seeing how price is attracted to these areas, even on daily charts.

but Im not sure if I am going to keep them on my charts, I kinda like things clean and not alot of clutter on my charts, im not sure at this stage. I notice alot of you here dont really have grid lines on your charts
I used to have grids before,

But I hate the way they remind me of "math" got rid of them...

If you don't suffer from mathophobia you could have them in a color that blends in nicely into your background and doesn't stand out to clatter your charts, I agree they can be useful...

g
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  #41986  
Old Aug 25, 2009 3:51am
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Quote:
Originally Posted by benji533 View Post
Didn't have any trades today...boring charts, so I went out most of the day.
Here is an update to this breakout trade, which I am carrying from last week.

This is a clear pattern IMO, broke that heavy support area, pulled back and formed a pin bar. Basically that isn't a beauty pin, and I wouldn't play it alone....but the location here was more important for me. I believe I have placed my stop far enough into the traffic. That old heavy support will do it's resistance work now, IMO. So I have confidence in this trade. I have also the 365ema,...
Your charts are improving by the day Ben,

So much so...I have to scroll back to the beginning of the post every time I see your chart/s...they strongly remind me of Mike's,

Nice, Clean and dirt simple stuff every time you come up with one.

This is how we do it folks!

g
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  #41992  
Old Aug 25, 2009 4:19am
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Quote:
Originally Posted by fxvision View Post
Watching EURJPY and AUDJPY for buying entries on 4H. Also bought AUDUSD from 8350. PB on EURJPY, BUOB on AUDJPY. Both off PPZ.
Eur/Jpy looks swweeet!

365 ema
trend line
ppz
with the current time frame trend
lot's of space.
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  #41995  
Old Aug 25, 2009 4:57am
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Originally Posted by nasir.khan View Post
and gj.

10 mins are remaining in this 4H candle close it could be more tradable until that.
Gj concerns me with that daily ppz hovering over head...
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  #41997  
Old Aug 25, 2009 5:05am
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But that's still 200 pips away.
I have it 30 pips away
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  #42008  
Old Aug 25, 2009 7:20am
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Quote:
Originally Posted by joelcf View Post
not a fan of EJ. Looking at the daily, it isnt definitively with the trend - although it could be! Looks like it could easily head south still.

Plus, that big PPZ doesnt wanna be broken just yet, although there is clearly upwards pressure there - maybe a break above those two pins (on the 1H) could convince me otherwise though

(keep in mind it is a zone, but I have it drawn in as a line for some unknown reason)

Attachment 295099

*edit* daily
Attachment 295101

*double edit*
id be careful of AUDCAD too, it is still ranging and...
The only thing I didn't like abt Ej was the close. It "should" have been a bit higher to give the buob a more authoritative look or let's say given the location I was expecting this to happen,

But I am in anyways...

g
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  #42009  
Old Aug 25, 2009 7:26am
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Quote:
Originally Posted by fxvision View Post
I am buying EJ around 134.50. SL 133.95.
Also buying AJ 78.90. SL 78.30.
Hey fxvision,

It would be great if you could come up with charts and explain why you want to enter,

posts like the one quoted attract only "signal seekers" which we all know isn't in their best favor,

Most newbies don't know what to do, and by running an "explanatory" thread we try and show them the way...the right way.

Don't take me wrong mate, I love your charts and respect your position as a trader, I just fear for a lot of "lurkers" down there who might want to buy Ej around 134.5 because..."well...errrmmm...Fxvisio n thinks it's a good trade!"

Just a brotherly advice Bro.

Ghous.
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  #42011  
Old Aug 25, 2009 7:29am
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Originally Posted by Jigsaw View Post
Anyone for some J16 Renko Price Action ?

thought abt mastering the tick charts anytime soon Jiggy?
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  #42012  
Old Aug 25, 2009 7:31am
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Originally Posted by joelcf View Post
Its formed a sweet bullish looking bar on the hourly, so it will probably work out for you if it can bust the highs around 134.85... there seems to be a big brown bear sitting in the middle of the path.

Just meant it wasnt for me
I understood that part,

Nothing can be more disastrous than going for a trade without the utmost of comfort.

I know you too well Joel.
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  #42014  
Old Aug 25, 2009 7:36am
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Sure thing. A nice 50% retrace of the 4h BUOB to 134.40. The rejection in 134.80 had sucked in the sellers. But all that has happened really was just a retest of former resistance around 134.50 now support. Keep things simple.
.
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  #42021  
Old Aug 25, 2009 9:02am
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Originally Posted by Denarii View Post
Ugly pin off my PPZ and trendline. Looked kind of like a flag to me so I have been waiting for it to break. This is NZDJPY. AUDJPY had something very similar, but I liked this one better.
the break confirmation instance was when price initially made it's way out of the upper trend line and then failed to go below it on the retest. This is when it gave off the pin bar whose break is a sensible way of taking these breakout trades...

Delaying your entry further than this can cause you to miss out the ride over the "initial volatility" which is often enough to help price "shoot" in the breakout direction. The point is that there is more to it than the missed out pips, a late entry is well capable of making a pretty good setup appeal to your account as a bitter gourd,

g
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  #42047  
Old Aug 25, 2009 1:09pm
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Originally Posted by ghous View Post
Eur/Jpy looks swweeet!

365 ema
trend line
ppz
with the current time frame trend
lot's of space.
It still did what one would have hoped for...

PA will always hold true...

g
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  #42116  
Old Aug 26, 2009 4:14am
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Originally Posted by benji533 View Post
Hey thanks for the comment bro!

By the way, I am saving a log of all my trades.
As long as I have a plan, reasons, knowledge of support, resistance and price action, I am never wrong.

I save a log of all my trades in separate folders, with my thought process, conditions, pictures size of bar, etc.....and at the end of every trade I go and write my results plus comments and what I have learned.

That trade is on my demo, so it's ok whatever will be the result, I'll learn from it.

My plan is to save enough money so when I'm ready, I will be able...
Don't they like tie you up by not allowing you to withdraw all the money till "0" account balance?

sheesh!
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  #42118  
Old Aug 26, 2009 4:55am
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I have it 30 pips away
Understanding the role of ppzs is an important step towards a good long friendly relationship with them,

What price did and why it did what it did shouldn't surprise you,

I would be extremely sorry for anybody who blames a "friend" for a loss on this one.

g
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  #42298  
Old Aug 27, 2009 3:31am
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Originally Posted by StoragePro View Post
Yeah - I am....
That is some what the response I too always get. Are we really that crazy

My 5 min presentation on forex meant that I was talking to some nutties after the presentation and blowing them away.

g
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  #42302  
Old Aug 27, 2009 3:50am
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Originally Posted by PippingMama View Post
Hello Ghous,

Just checking on the chart you presented on this EJ trade. It seems you use 135.20 area as your first Take profit point. Why you don't use 135 round number? I think 135 is round number is hard to penetrade than the 135.20.

Can you share how you justify your first TP point?

Thanks!


PippingM
Hi PM,

135 was on my mind, in fact this probably was the single most important factor that kept it from breaking hard straight away to the upside "jarroo style"

the regions marked on my chart were those that I spotted at the first glimpse without looking to the extreme right at price levels,

However I was intent on letting the trade run until it could break the left eye of the BUOB/PB (the ppz which the buob was off of was another factor that mad me anticipate this) which it obviously didn't and more importantly the 4H was able to close above the 135 with serious authority. That's when I began anticipating that price should now hit at least the first marked region, as it did I moved my SL, took some off, set the Tp at the second yellow ppz and went off for a nap,

Simple stuff when you start believing in yourself

g
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  #42304  
Old Aug 27, 2009 3:58am
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Originally Posted by benji533 View Post
IT IS DEFINITELY ONE OF THE EASIEST THINGS TO DO.

Hey supermatt, it is all in your head!

I am telling you, I did a little research, read smart guys posts, built my method (or their method, lol), and apply it. It is really simple.
Trading is not a complicated thing at all. I really enjoy it.
I do not understand why it is so difficult to so many.

I am doing a very simple thing. Believe me I am the last one to be a genius here..be sure about that.

IMO, the trader is the only one that can disturb himself making killings in this market....
Maybe we can derive something for this...

Maybe it's the kids that can trade better than adults, nice clean minds, free from excessive "ifs" and "buts" and "so whats" and "what ifs"...

The simplicity of trading is so obvious...it in fact is what gets a lot...a lot of wannabe traders...

Remember Jim's son, and each and every outside bar that he took on Eur/Gbp this year...I sure could have never done that...I mean I am not talking from my death bed but I am getting old...old enough to wave teenage life good bye and honestly the way I saw trading back at 17 is not how I look at it today....I sometimes try and struggle to keep my head as clear as it was back then. ...
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  #42308  
Old Aug 27, 2009 4:23am
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Originally Posted by benji533 View Post
You are old? You must be kidding me. You and me not THAT different. Our minds as well.

Maybe the day when little kids will work instead of the parents in house is not that far

But yes, your words make sense man.

Ben
yeah I am not old, but by the time you wave your teenage life good bye, you'd be 4 years deep in experience...that is a blessing...make good use of it Ben,

I got a part of it too...and was fortunate to put it good use.
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  #42330  
Old Aug 27, 2009 9:31am
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Originally Posted by skfx View Post
we have certainly been blessed with some setups of late peeps.
did anyone else get this one(gbpaud)?
this is a classic example how understanding orderflow and what traders are doing and why, will allow you to trade that little better.
not only was this pin with the trend,it traded back to a key level and then broke resistance sucking in buy orders.......then bam,you get the classic dump,caused by buyers covering longs-forces price down even harder due to newly initiating shorts and covered longs.
gotta love that.very cheeky
take care all.
Great chart and trade mate!

Love'm in their simplest of forms, the charts.

g.
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  #42333  
Old Aug 27, 2009 9:45am
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Originally Posted by PippingMama View Post
Hello Ghous,

Thank you for the chart and comment.

Just want to confirm your trade management on this EJ trade, you simply try to minimize the trade with SL at the left eye of the BUOB/PB, (you concern 135 is kind of strong that might not allow you to clear this. In fact entry break was kind of weak as we go down lower timeframe) However, the 4h bar close above 135 so you can stick your gun and wait it reach the first TP1. Do I rephrased it right?


I sometimes confused whether we should respect PPZ or Round number. As Rac style he does not care...
Quote:
Thank you for the chart and comment.

Just want to confirm your trade management on this EJ trade, you simply try to minimize the trade with SL at the left eye of the BUOB/PB, (you concern 135 is kind of strong that might not allow you to clear this. In fact entry break was kind of weak as we go down lower timeframe) However, the 4h bar close above 135 so you can stick your gun and wait it reach the first TP1. Do I rephrased it right?
That's correct.

Quote:
I sometimes confused whether we should respect PPZ or Round number. As Rac style he does not care too much about the round number but only the ppz. That makes me confused and I thought you also do the same too.
Does he? as far as I know he's a RN fanatic.

Anways IMHO both, ppzs and round numbers can be extremely rewarding when respected and extremely punishing if disrespected. I don't think you should weigh them against each other on the scale of importance.

Yes I was wary abt the 135 round number, but the ppz right below made me believe price had a fair chance of holding up. You need not look at it as if I was in any way expecting the ppz to hold anymore than the round number. Since there wasn't a clearly defined ppz at 135 (it was rather around 134.5) If anything it was the round number psychology that could have stopped price,

The odds had lined up well, and price eventually did bust through it, 2 of the most important ones were 1) Strength of the setup. 2) lack of a defined ppz at 135.

generalizing a statement like "ppzs are more/less valid than round numbers" from an observation can be pretty damaging to say the least.

g.
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  #42409  
Old Aug 28, 2009 12:54am
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...
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  #42413  
Old Aug 28, 2009 1:29am
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Originally Posted by faces View Post
Yes, that's the one I meant. Looking at it now, I suppose a good way to manage it would have been this:

1. Place entry stop below the bars, stop above.

2. Next day your trade triggers, but as the day ends in a bin bar, move the stop loss 10 pips above the newly formed pin bar.

3. Stop gets triggered making a loss of about 79 pips instead of 200-something pips which was the size of the bars.

An even better and agressive way would have been to put a stop and reverse above the pin bar and take a long trade I wonder if anyone really did that....
The only time I am ok with a loss is when price never reaches the first region I mark as "trouble zone".

Think abt it. You take a trade and know where it should first find trouble at. You are not wrong and price does just that. Would it be ok with you to let price come back and hurt you, knowing it has the potential to? It's more like taking your face forward to a vixen of a gf and inviting her to slap you.

IMHO, you should reserve your minimal losses for times when price will do the unexpected, like I said maybe reverse much before your first marked trouble zone, or a news spike...

The Usd/Cad BEOB which was followed by the pin bar is by no means a looser unless you're practicing really crazy trade management.

A better approach would be to take some off (or at least move the stop to BE on the beob) at the ppz level Joel marked where the pin bar formed,

and probably treat the pin bar as a separate trade altogether...

g.
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  #42415  
Old Aug 28, 2009 1:48am
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Originally Posted by james16 View Post
4000 tick mini dow chart.

high odds trades.

most people that daytrade this/these markets trade on a tick chart in the 50 to 250 range and take many trades a day.

its why there usually gone and broke in a couple of months.

im trying to win and stay away from anything to do with the word boss and all the crap and misery that comes with it. been a long time but i remember.

i remember well enough to be smart and picky with my trades no matter what market it is.

thought you might enjoy a little change from forex. its my intention to start...
more, more, MORE!
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  #42421  
Old Aug 28, 2009 2:14am
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Originally Posted by nasir.khan View Post
its a PPZ also am i right???
Yup!
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  #42424  
Old Aug 28, 2009 2:24am
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Originally Posted by nasir.khan View Post
I would like the breakout to the downside.
The downside won't be a drive on the highway either...1625 is a holding a tonne of bar highs, but yeah given that it would be with the overall trend could be a fair play specially if those bar highs turn out to be sweet marshmallows...we'd like that but won't anticipate it.
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  #42425  
Old Aug 28, 2009 2:33am
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Originally Posted by andrugeno View Post
Mi first post!!
What do you think?
Attachment 297149
Spending your first ever hour here at FF with the J16 thread...you can't ask for a better start buddy!

Nice clean chart, and sensible expectations,

Some of us including great pros like to to do that, analyze what price should be doing in the long term, but make sure you back yourself well with solid PA as and when it comes along,

If you haven't gone through the first pages of the thread please do, you won't regret I promise.

Welcome on board!

g.
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  #42429  
Old Aug 28, 2009 5:15am
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Originally Posted by oltciter View Post
Is it the formation in yellow square IB4?
Yes mate,

and to tell you more abt it I am short off this IB,

Swing high, weekly ppz and a nice little Ib smaller in range than the bars before it.

g.
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  #42431  
Old Aug 28, 2009 5:31am
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Originally Posted by Grousman View Post
Moved up a little. Daily suggests a move up? Not big PB's but lends weight to the argument. Waiting. Question: At what stage would you consider it as having broken current resistance? E.g at the close of a 1Hr candle etc or do you wait for definitive PA?
To confirm the resistance level broken:

I like to see price close beyond the level with authority. Initially a pure break by "X" number of pips was all I needed but got burnt a lot many times catching false breaks.

To Enter breakout trades:

I like to wait for 2 things,

1) retest of the level
2) PA.

cheers,
Ghous.
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  #42435  
Old Aug 28, 2009 5:56am
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Originally Posted by supremeChaos View Post
Oh man, u reminded me of my-stupid-internet-disconnection-while-trading incident.
i was short eur$ too around the same area as yours (1.4348, not an exclusive j16 trade btw; an intended short-term, 15-30 pip trade but-i'm-flexible-if-ever). i was up by about 12 or 13 pips, but i kept getting disconnected. i risked by trailing my stop fairly tightly ("luckily", i got the chance to trail my stop in between disconnections" ) to BE + 2 (i was forced to do so because of the multiple disconnections) --- because i saw a potential...
lol


I am pretty used to stuff like this myself, sometimes the electricity, other times my internet connection, other times my pc itself, and a couple of times the broker platform...

It's amazing how everything seems to be going against you when you want to really trade. lol
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  #42436  
Old Aug 28, 2009 6:00am
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Originally Posted by nasir.khan View Post
How is that?

BEOB at weekly, BEUB at daily, BEUB at 4H.
what's a BEUB?

You'll impress me if it's something like..."BEarish Ugly Bar"
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  #42440  
Old Aug 28, 2009 6:33am
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Originally Posted by nasir.khan View Post
Oh i lost to you.

And congratulations you are the new winner of
Here's my paypal: "ghous_zaman@hotmail.com"



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  #42441  
Old Aug 28, 2009 6:37am
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Originally Posted by ghous View Post
Yes mate,

and to tell you more abt it I am short off this IB,

Swing high, weekly ppz and a nice little Ib smaller in range than the bars before it.

g.
Out at BE,

I like these IB breakouts to be quick and sustained, it may still fall like a stone though...

g.
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  #42445  
Old Aug 28, 2009 6:51am
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Quote:
Originally Posted by nasir.khan View Post
There is no money involved this is a game of ultimate skill.

So you are in GU.
Quote:
There is no money involved this is a game of ultimate skill.
...

"If you're good at something never do it for free..." Heath ledger, THE DARK KNIGHT





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So you are in GU
You bet
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  #42446  
Old Aug 28, 2009 6:56am
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Originally Posted by oltciter View Post
Thank you again , Ghous! I'm short too!
I am out of it Oltciter for BE. Not recommending you to do the same though, I found a slight dearth of momentum, which for Break out trades is an unacceptable scenario for me.

Cheers,
Ghous
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  #42497  
Old Aug 29, 2009 3:05am
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Originally Posted by nasir.khan View Post
But never put a tag on your soul.

I was in this trade also but closed it soon after 20+ pips and entered short cause price pulled back to TL it broke earlier tested it and then continued down.
Presence of 50% Fibonacci just above and a PPZ made it look more strong.

And how the hell did you get that PAYPAL account???


Quote:
But never put a tag on your soul.
Agreed.

Quote:
And how the hell did you get that PAYPAL account???
I was obviously just kidding around, wouldn't have put up my paypal account if it was real anyways...

g.
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  #42503  
Old Aug 29, 2009 6:17am
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Originally Posted by Grousman View Post
Hey all - I am short this pair

Reasons:

PB on daily
Outside bar on 4H
From a PPZ / resistance area
From a higher swing point

It is against the trend though. Any comments much appreciated.
The daily pin bar was too "poodlish" but the location sure does rock!

The beob on the 4H also appears to be a sweet one,

All in all I think you caught a nice one G man!

g.
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  #42505  
Old Aug 29, 2009 6:33am
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Originally Posted by Grousman View Post
Thanks for the prompt reply. How much weight do you put on the divergence (I do not use this, maybe I should?). I think the divergence I refer to is the opposing slope on the MACD (am I confusing myself here!!!)
Not a lot because it can never convince me to enter/exit a trade, but it sure is another tool you can add to your "confluence" box, so that when it appears it merely adds to the odds going in your favor on a potential trade entry,

Here's a little time pass for you

trading Divergence

g.
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  #42521  
Old Aug 30, 2009 1:21am
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Originally Posted by turnip15 View Post
4000 tick ? whats nearest minute time frame to that please?
Not sure Bro, don't deal in tick charts, but upon a bit web search:

"Tick charts provide the rough equivalent of fractional minute charts."

from...

http://www.dacharts.com/faq/tick-charts.php

Somebody else would serve you better,

g.
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  #42522  
Old Aug 30, 2009 1:22am
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Originally Posted by Rocket! View Post
Just took two trades over the last two weeks. +220 and +43 respectively.
The second trade had gone up over 300 pips and, not being able to properly monitor it, I stupidly let it turn into a +43. What can you do though, a wins a win. On to the next trade.


Happy weekend to all!
Good stuff Bro,

Care sharing the setups you took?

Ghous.
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  #42526  
Old Aug 30, 2009 5:05am
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Originally Posted by joelcf View Post
That's going to entirely depend on traded volume of the instrument involved.

If it trades 4000 contracts a minute, its a minute chart. If it trades 4000 contracts a day, its a daily chart.

(from this, you can probably figure out why forex tick charts arent really that useful)

For ES, volume is highest in the first and last half hours (about 250k), with a low of about 100k for the half hours around noon. So a 4000 tick chart is anywhere between 30 seconds and a minute or so.

Now, YM is about 130k daily...

Should be easy enough to go from there...
Thnx for attending to Turnip's query Joel,

Very informative as usual,

g.
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  #42543  
Old Aug 30, 2009 10:55am
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Default Just so ya'll know...

Hi guys,

Just wanted to put this up so you guys know...

My university starts from tomorrow and I'll be there for just as much time as I am at home trading and posting/reading at FF.

Besides I am commencing some of my trading research projects that I've lined up for quite some time. Whatever extra time I have I aim to utilize it looking beyond what I know into the unseen and unknown to discover the true world behind those price bars, so obviously I won't be just as available as up till now,

I'll obviously drop back for a while here and there, can't miss out on any bit of Benji's growth, or STO's addictive posts or Tia's and Joel's informative posts, or jarroo's charts or for that matter the surprise Jim's abt to come up with, some time this week.

Happy pipping and posting guys,

Your's
Ghous.
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  #42695  
Old Aug 31, 2009 1:03pm
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Originally Posted by Grousman View Post
Nasir - maybe this pair, the 4H is just about to close. I will have a look at it & check for confluence etc.
I don't see it off anything at all.

As has been said before, we do not sit on the edge of our seats looking for excuses to enter, we rather sit back on the couch and wait in ambush for only the very good ones.

The levels which interest me on the pair are labelled on the chart below.

g.
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  #42728  
Old Aug 31, 2009 9:15pm
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Originally Posted by james16 View Post
ok here we go. someone wake ghous up cause hes gonna like this.

i have a lot of things that interest me.

most make money. not all but most.

i have been a reptile nut all my life.

i work with pythons and these are ball pythons.

i work for years with genetics to pruduce rare snakes.

some people that lead this research make millions but its all consuming for them. its just a fun hobby for me and my son and its going to easily put him thru college.

the white snakes are a 3 year project for me and my son. they are not as super rare as they...
i am here Jim, was abt to log off, as it's 5 am here in the morning (not to sleep but to get ready for school) but saw you online and just hoped for something like this to come.

Congragulations once again,

BTW Mike at constrictors says leucies can only be produced from a fire, or is it only for the black eyed leucies or some other specialized leucistic variation that he is talking about?

g.
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  #42769  
Old Sep 1, 2009 2:42am
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Ahhh....Newport Beach....I lived at Whale Beach for two years and spent some quality time in the beer garden at the Newport boozer.

Plenty snakey around where I am now...had a few close calls with browns last year..my better half actually had one strike at her but missed. Had a baby brown slither through my legs as I was doing a pumpover in the winery one day...I just just put a big jug in front of it and it obediently slithered in and I carried it across the road and let it go in a field.
Not fair Dave,

You gotta do more justice to your real talent...with the sharkies,

strike while the iron is still hot bro
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  #42771  
Old Sep 1, 2009 2:56am
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Originally Posted by tehuringa View Post


I reckon I've been swimming with sharks for long enough now that they know that I don't taste so nice
Or rather you know it's not a big deal now
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  #42956  
Old Sep 3, 2009 7:29am
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Originally Posted by nasir.khan View Post
Hello Mike you were right.

But its not a PM cause i don't wan't anyone to feel like i am feeling right now.

It's all gone. All profits of 1 month in 2 Days....
I was watching that change anxiously Nasir,

James16 says : "the only thing that can stop you from becoming a good trader is the grey matter between your ears"

You don't feel bad because you lost. You don't feel bad because you got rid of those mas. You don't feel bad cuz it's one of the first few of the losses you've take with this system.

You feel bad because the fulfillment of your extra ordinary dream required you to only be extra ordinary lucky.

If you built anything exaggerated on an extra ordinary start, you were always a strong candidate for this kind of rude awakening - I say this because I've been in that same position.

Let's do some math here:

you converted $90 into $365 which was beyond anything called "ordinary gains"...300%+ in a month. Not bad for a start...

but tell me this: What kind of "sensible" money management would like you to go looking for such returns anyway? Shouldn't you have set any earthly limit to the profits you were making? To the huge number of trades you were taking?

Not having a proper plan to accomplish an extra ordinary target (of building something valuable on a $90 account) was always going to come back and hurt you pretty bad. You're still fortunate it didn't stab you right away and blew your 90 bucks off.

The point is, It's not the pins that have stopped working, it's not the markets that have gone crazy, you're missing something else.

Money management is probably the next best department one need's to gain expertise on after consistently showing trades the green end of the picture.

Just hang on in there bro, and use this experience as an eye opener. It's only the rare 5% that will ever get out of it, and it's just these 5% that will truly call trading a "day job busting" experience.

Ghous.
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  #43066  
Old Sep 3, 2009 11:36pm
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Originally Posted by evve View Post
How do you normally trade a chart like the one above on GBP USD 4 H?
Good question.

1) you look for PA

2) you look for confluences

3) you empty your pockets

4) you spread your odds on the battle field

go through the first pages of the thread and get these bullets out from there, and then if need be you can always post around with a 'little' more specific question.

g.
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  #43193  
Old Sep 6, 2009 7:22am
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Originally Posted by zoli View Post
Hi all,

I am new to FOREX trading and here too. I just want to thank you for all your work and I think this thread is really great - James, your work is great! It is already a good feeling that I know how easy to loose money is and this is not a gambling. You, with this thread, contributed to this.

So I am trying to post something here, I hope it will work out. Funny, I am not even sure how to post charts properly as Thumbnails. Could anyone suggest me that please?

Anyway, this is daily GU. I can recognize any PA patterns here, if not...
Hi Zoli AKA Zol,

Quote:
Am I reasoning well? What did I miss? How should I have approached?
You're missing something for sure - - PA.

i.e a price action signal, so although you may expect it to go down make sure you don't short unless you get a PA signal. (This is what we do here, wait for PA)

Now what exactly is a 'PA signal' you'll need to go through the first few hundred pages to divulge that for you

All the best,

and let us know if we can be of any further assistance to you.

g.
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  #43217  
Old Sep 7, 2009 4:57am
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Originally Posted by Grousman View Post
Also just noticed 3 consecutive highs at 6894 then a 6891. Any significane?
Yes they can be of great significance Grouseman, although Nu isn't a perfect example, watch out for them any and everywhere for their abilities to restrain price.

Ghous.
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  #43219  
Old Sep 7, 2009 7:06am
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Originally Posted by albchr View Post
Good MAE Everyone...

How's all the fine folks in this great thread doing?
Hey Chrissy,

Long time Buddy.

The fine folks are getting finer, and the thread's getting hotter.

how's your trading goin' lately?

g.
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  #43221  
Old Sep 7, 2009 7:11am
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Originally Posted by albchr View Post
Chrissy?? Who be that?..

Trading is going well my friend. And you "Goose"?


The charts are all normal on my end too...

Catch ya' around,

PS: Nice sig you got there...can't get any simpler then that

g.
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  #43236  
Old Sep 7, 2009 11:05am
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Originally Posted by Rocket! View Post
Hey just wondering what you guys think of this 8hr pin on GBP/USD:

-Its with the trend

-Moving away from big PPZ at 1.64(small round number too)

-61.8% Fib

-200 & 150 EMA Confluence

-Double Top

Downside is:
-Price is choppy atm...seems to be ranging
-No Divergence
-Downtrend line from 1.7000 seems to be pierced
-Going against weekly pin


Seems good, but maybe not good enough. One thing that worries me is the fact that its a slow Monday. There might not be enough momentum to provide a real break.

Any opinions on my analysis is appreciated....
Looks good if it can break hard, for some reason markets have been drowsy all day today.


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  #43239  
Old Sep 7, 2009 11:13am
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Originally Posted by TiaForex View Post
Labor Day in the US which means New York traders are off. That also means that after the end of the London session in an hour or so there will be very little activity and so probably no hard break.

I'm turning off the charts and heading out until the liquidity returns to the market tomorrow.
Ah,

thanks Tia, no wonder my touch trades are a mess today

Glad I quickly withdrew out of most of my positions early in London...

ghous,.
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  #43307  
Old Sep 8, 2009 9:21am
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Originally Posted by squeezy View Post
hey Ben, did u get any of this....lol
Quote:
Originally Posted by benji533 View Post
Hey zoli,

Thanks for your kind words
James and Mike are giving so much for free...so if my posts can help someone I'm glad.

Just this question: Once this 8500 is broken as it is, it does have a high potential to act as support from now on, hasnt it?
Yep

Umm...not so cool trade...it was pretty stuck yesterday.
But now it's cool stop at BE.



Hey there buddy

Ben

Good trades folks!
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  #43311  
Old Sep 8, 2009 10:21am
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Originally Posted by squeezy View Post
ghous the bossman
how u doing my friend
how is university life treating ...
I am pretty fatigued these days, still waiting for my physical self to get used to the exhausting routine...

I now realize how spoiled I was staying at home for the most part of 24/7. lol

g
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  #43554  
Old Sep 11, 2009 11:31am
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Originally Posted by esbatu View Post
Joelcf, SupremeChaos, StoragePro thanks a lot guys for answering my post. Have been reading your post a couple of times to let it sink in.

Anyone out there watching gold lately? I've been watching gold since it breaks 1000. There were two pinbar forming around the 1000 level. Any significant meanings of these two bars?
Nothing fancy, a typical case of contradictory signals...just mere indecision.

A pin appeals the most when it breaks hard and shows price direction, however if a break of a pin is followed by an opposing pin we know that more than anything else it's a signal for us to cover our positions (if wer'e already short/long from the initial pin bar) and to stay out until a more clearer setup appears,

cheers,
Ghous.
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  #43558  
Old Sep 11, 2009 11:53am
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Originally Posted by triger88990 View Post
hey guys I have another issue that I'm struggle to understand ,I know it is something obvious that I am missing.

could somone explain for me why hedge funds or bank run stops?

I am just confused about how moving the price through stop levels benefits the institution that is doing it.

thanks in advance.

PS: I think I have a mental problem with this new stuff about order flow,about market microstructure,I think this is about understanding the curency market,not only to look at charts but to be able to read deeper from the chart, and to find...
Hi Triger,

Abt the first part of your post I am know way equipped to answer it, perhaps some others here would respond to it or you could pm Ronald Raygun with these institutional trading questions. He's head first into this stuff at the moment...

Abt the second part:

here's what I feel:

Mark Douglas has explained trading psychology like none other in his book "trading in the zone", i.e if you understand and apply the concepts elaborated you're a lot more than half done in your pursuit of becoming a successful trader. So...uh, oh...wait! Isn't that the holy grail then? You get it for a few bucks, pour your eyeballs over it...and there you are as clean a trader as you ever wanted to be!! Yeah that's it!!!

In reality no it isn't it. Understanding the mechanics of price action and being able to price like a 'book' as they say is no where near possible by going through a thread, exactly like achieving the right frame of mind can never be as simple as going through a book. What 'Trading in the zone' did for me was that it hinted me as to what it is like to think like a 'trader in the right frame of mind'....I am far FAR FAR away from actually being there.

Skfx's thread (if that's what you're referring to) was just meant to show you the true light and install a sign board for rambling thoughts.

My advice to you would be not think 'real' hard over this but rather just let it come to you, you do that by focusing on the stuff you know (J16 or any other method you follow) and keeping an eye on how and why and where price reacts.

The more you go looking for it, the harder it will get, and the longer it will take...believe me.

Like SKfx said...it took him hundreds and thousands of screen hours to get the hang of it, it took Jim years and several blown accounts spread over HUGE $$$$. Point is, trading isn't simple nor is it a skill attainable in a very short time. and nothing legitimate out there can claim to make it any different for you, except that it can 'guide' you and while you're at it you know you're doing the right thing. Jim and the other folks here on the thread are doing exactly that so are several others across different threads all over FF and elsewhere...no one can nor will ever tell you in any form of an article exactly what lies behind the bars you see on your chart if you get my point...

Cheers,
Ghous,
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  #43613  
Old Sep 12, 2009 7:29am
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Originally Posted by triger88990 View Post
thanks scot for your replay, and I'll like to too hear what joel has to say, I think he he working at some bank


thanks ghous for your encuragement, actually "Trading in the zone" is in my list of reading.
Hey ghous like to see you back here, who it's your studying?

thanks shermentor, liquidity is the key word here
Going for my bachelors at a good university here in Pakistan, and it's because it's good that I have to commit myself to it so much. And over that I have some very important experiments to execute in my strategies in addition to trade the conventional stuff - so at the end of the day it was the huge number of hours I used to spend here which had to take the hit.

g.
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  #43618  
Old Sep 12, 2009 10:19am
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Originally Posted by bundyraider View Post
Your a bright young man Goss.
You got that right - including the 'Goss' part. thnx.
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  #44049  
Old Sep 17, 2009 8:41pm
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Originally Posted by bundyraider View Post
Gee Mike, cluttered up?

That's a clean chart to me. lol

I see past my 3 or four MAs on my chart now and don't even notice them taking up screen space.
He's a good politician, this man.

Bundy, you do have cluttered charts

(jk.)

...
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  #44050  
Old Sep 17, 2009 8:45pm
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Default gbp/Usd

4H ppz, Trendline,

In on the test of the initial rejection wick.



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  #44091  
Old Sep 18, 2009 7:08am
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Originally Posted by supremeChaos View Post
I assure u i'll pay it forward, sooner or later. You can bank on it.
You're already doing it Chaos, and you're at a loss if you don't realize it buddy.

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  #44513  
Old Sep 24, 2009 12:12pm
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Originally Posted by raczekfx View Post
Price pulls back to rac's favor retrace, 4hr ppz with fib confluence.
Then we are blessed with a nice PA off of that area. Everything looks kosher so we are ready for ... Kaaabooom.
.
A question for you Mark,

I passed on the Usd/cad despite acknowledging that ppz. wouldn't that fall into a >3 touch trade? I see 5 bar lows right next to the one I assume you took. (the last one before price bowed down to you)

I've busy working on my touch trades recently so would really appreciate some feedback.

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  #44673  
Old Sep 27, 2009 7:39am
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Originally Posted by supremeChaos View Post
Please indulge me... (non-trading related)

Please visit this thread
Help needed.
Thank you!
Oh man!

Just please keep hanging to that pole bro, it'll pass....

I will do all the best I can,

and thnx for sharing...

(isn't Phillipenes like way below sea level or something too?)

g.
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