Home
Search Forums
Keywords:
Search Titles Only
User Name:
Exact Match
Show Results As:
Advanced Options
Reply
 
Thread Tools Search this Thread
  #37766  
Old Jul 16, 2009 4:06pm
Member
 
Member Since Jan 2007
More than 10 Vouchers  639 Posts
Default

Quote:
Originally Posted by Ryanmcd View Post
You guys are lucky to have Mike, For me I may help people out a few times but after that they can go back and read, Mike keeps helping


*** TOO ALL THE NEW PEOPLE, WHAT YOU ARE ABOUT TO ASK IS NOT NEW AND HAS BEEN POSTED ABOUT 100+ TIMES, IF I AM INCORRECT I WILL GIVE YOU $100 ***

Ok then. What is the air speed velocity of a fully laden swallow??
Reply With Quote
  #37812  
Old Jul 16, 2009 9:59pm
Member
 
Member Since Jan 2007
More than 10 Vouchers  639 Posts
Default

2 trades,
1: daily day trade, aka J16 fave..
soybeans, false break of consolidation area, giving a daily pin.... straight to the first support. I took full profit there.


2: 1hr trade based on daily pa...
daily gave a ipb (ghous fave) @ ppz & 61 fib retrace.
watched 1hr tf for entry.. 1hr ib.. small stop exit @ 1st support.

2 ways I like trade..
Attached Thumbnails
Click image for larger version

Name:	soybeans.gif
Views:	71
Size:	12.6 KB
ID:	274226     Click image for larger version

Name:	gj19.gif
Views:	61
Size:	11.9 KB
ID:	274227     Click image for larger version

Name:	gj18.gif
Views:	57
Size:	10.7 KB
ID:	274228    
Reply With Quote
  #37816  
Old Jul 16, 2009 10:14pm
Member
 
Member Since Jan 2007
More than 10 Vouchers  639 Posts
Default

Quote:
Originally Posted by Matiasfx View Post
Hey Jeff, Nice trading there!!

Great to see u posting again, i always look up for your posts.

keep them coming if u have the time

regards

Matty

Thanks Matty, been a bit busy lately..
Reply With Quote
  #38992  
Old Jul 27, 2009 2:15am
Member
 
Member Since Jan 2007
More than 10 Vouchers  639 Posts
Default mmmmm

Just a short note,
As the oldies here know. I dont post much, both here or in the Pf, which I'm a "lifer".

I have been away enjoying life quite a bit, sailing, for the last 2 months. Only checking in for a brief look & same for trading. Enjoyed my time the most I have for years.

When I got home on thursday & decided to catch up on the forums I was shocked. It was like the civil war all over. J16 vs Cl...

I have read every post on both threads & a realize that some were deleted. I have some opinions on the subject........but

I am heartened to see both threads (at the time of writing) get back to what they do best............... give good, honest, substantive advice on trading.

MY OPINION. is the more good, clean, honest, bullshit free advice out there the better. Newbs take notice....

One day, If not now you will pay for your trading education, simple as that.
Dont get caught up in the "days of our lives" stuff of forums. It is tempting...


Point is.. In this journey we call life. we have to choose for ourselves the poison we choose to drink.

CHOOSE WISELY.....
Reply With Quote
  #38995  
Old Jul 27, 2009 3:34am
Member
 
Member Since Jan 2007
More than 10 Vouchers  639 Posts
Default

Quote:
Originally Posted by Almfx View Post
Welcome back Rustyjeff!
Glad that you enjoyed your trip
Iam still young for any sort of POISON

What I have learned over some years is that we need to be wise, almost above our years. But wisdom does get offered to us from time to time. Our on growing experiences pulls us to what we need..

We just need to recognize when its given to us..
Reply With Quote
  #38998  
Old Jul 27, 2009 4:17am
Member
 
Member Since Jan 2007
More than 10 Vouchers  639 Posts
Default cadyn

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..
Attached Thumbnails
Click image for larger version

Name:	cadyn.gif
Views:	62
Size:	11.8 KB
ID:	279086     Click image for larger version

Name:	cadyn1.gif
Views:	48
Size:	13.3 KB
ID:	279087     Click image for larger version

Name:	cadyn2.gif
Views:	46
Size:	12.7 KB
ID:	279088    
Reply With Quote
  #39036  
Old Jul 27, 2009 12:29pm
Member
 
Member Since Jan 2007
More than 10 Vouchers  639 Posts
Default

Quote:
Originally Posted by ghous View Post
Nice to have you back Jeff,

Hope the ship isn't ready to sail again soon



Ghous.
not for a while,
Its time for me to go get some....
Reply With Quote
  #39115  
Old Jul 28, 2009 11:56am
Member
 
Member Since Jan 2007
More than 10 Vouchers  639 Posts
Default

hey josh,

With uj. I like the round numbers right now. 95,94,93,92...
they line up nicely with s/r & fibs.

look at how uj reacted to 94 just now.. 94.03- 94.22 .
will it turn into longer term pa????
but if your quick you will get 20-30 pips from these on the 1st approach.
Attached Thumbnails
Click image for larger version

Name:	uj8.gif
Views:	31
Size:	13.9 KB
ID:	279973    
Reply With Quote
  #39116  
Old Jul 28, 2009 12:00pm
Member
 
Member Since Jan 2007
More than 10 Vouchers  639 Posts
Default

I missed these this morning, but I bet Ryan was all over them.
Attached Thumbnails
Click image for larger version

Name:	euro10.gif
Views:	72
Size:	13.7 KB
ID:	279976    
Reply With Quote
  #39120  
Old Jul 28, 2009 12:20pm
Member
 
Member Since Jan 2007
More than 10 Vouchers  639 Posts
Default

Quote:
Originally Posted by Jlr View Post
Do you trade these normally rusty? Doing well with it? Still can't decide if I like this particular trade or not
not all the time. & only when they are dead obvious..like these were. What if the same look was on the daily...

I do prefer 4hr & daily tf's.
Reply With Quote
  #39121  
Old Jul 28, 2009 12:24pm
Member
 
Member Since Jan 2007
More than 10 Vouchers  639 Posts
Default aud

A close below todays open & those bar highs to the left will be nice

wait to see how price reacts at the blue area
Attached Thumbnails
Click image for larger version

Name:	aud9.gif
Views:	43
Size:	12.3 KB
ID:	279988    
Reply With Quote
  #39123  
Old Jul 28, 2009 12:30pm
Member
 
Member Since Jan 2007
More than 10 Vouchers  639 Posts
Default



Attached Thumbnails
Click image for larger version

Name:	aud11.gif
Views:	37
Size:	12.3 KB
ID:	279992    
Reply With Quote
  #39128  
Old Jul 28, 2009 12:55pm
Member
 
Member Since Jan 2007
More than 10 Vouchers  639 Posts
Default

others i'm watching..
red arrows show 1st trouble areas..
Attached Thumbnails
Click image for larger version

Name:	usdcck1.gif
Views:	46
Size:	12.3 KB
ID:	280008     Click image for larger version

Name:	ausgd2.gif
Views:	36
Size:	12.4 KB
ID:	280009     Click image for larger version

Name:	usdsek.gif
Views:	30
Size:	13.8 KB
ID:	280011    
Reply With Quote
  #39130  
Old Jul 28, 2009 12:57pm
Member
 
Member Since Jan 2007
More than 10 Vouchers  639 Posts
Default

Quote:
Originally Posted by ikki View Post
Watching......
yep..
Reply With Quote
  #39138  
Old Jul 28, 2009 1:12pm
Member
 
Member Since Jan 2007
More than 10 Vouchers  639 Posts
Default

Quote:
Originally Posted by supremeChaos View Post
wow, very rare multi-posts from rustyjeff. very nice Sir.
u must've missed trading that much after your grand vacation/voyage.

are u filling in for raczekfx? i can't complain.
Yes, after a long break I did miss trading..
This week will be warming up, getting the charts in my head, getting the feel back..
fresh eyes as they say.... there seem to be some good looking opportunities coming, from the wind up on usd crosses &yen pairs to important levels on some exotics & indexes.

hey ikki, I like the euro just a bit better then ej on the way up for the fibs lining up with ppzs... if it does what I want...
Attached Thumbnails
Click image for larger version

Name:	eur10.gif
Views:	46
Size:	12.3 KB
ID:	280030    
Reply With Quote
  #39147  
Old Jul 28, 2009 2:50pm
Member
 
Member Since Jan 2007
More than 10 Vouchers  639 Posts
Default

Quote:
Originally Posted by rustyjeff View Post



right to where youd expect... you seeing this Josh
Attached Thumbnails
Click image for larger version

Name:	aud12.gif
Views:	33
Size:	11.3 KB
ID:	280074     Click image for larger version

Name:	aud13.gif
Views:	30
Size:	12.1 KB
ID:	280075    
Reply With Quote
  #39154  
Old Jul 28, 2009 4:47pm
Member
 
Member Since Jan 2007
More than 10 Vouchers  639 Posts
Default

Quote:
Originally Posted by Ryanmcd View Post
5min today on eur/usd was great, also had a long @ a extreme on the 4bar hit with RSI divergence too, yesterday was okay had 2 wins, still do the 4hr but it's hard to pass up a 32% gain on a account in 1 day when it takes a few days of waiting on the 4hr stuff. Also I stopped posting a lot due to how many retards we have posting now and I just don't want to deal with it unless I see someone / something I like

I knew you'd be all over those.. One of those easy runs..
Reply With Quote
  #39193  
Old Jul 28, 2009 11:14pm
Member
 
Member Since Jan 2007
More than 10 Vouchers  639 Posts
Default

Quote:
Originally Posted by Jduester View Post
Yeah, I watched that same thing... awesome how well it followed your chart analysis. Now about that daily... Wish it had closed lower...

Josh
It would have been very nice if had closed where we wanted.... BUT.
It didn't. the point is to look ahead & find likely areas to watch.

when you do this enough you will see things repeat & then with confidence can start trying "blind entries". Hell, open another demo acct. & practise just that if you want.

you can never go broke demoing.... It works best on 1st touches.. , be ready to get to 'be' quick & play with it, levels & tp's... It will be fun & pass some time waiting for dailies.
I still demo alot.. even when i have a feeling that doesnt fit my plan..
Its an ever evolving process, becoming a trader. Its not like lightning strikes & you pocess the knowledge.
Even when I dont feel good mentaly, I will still demo. just not with real money..
There are so many ways to do this but people get caught up in trying to be right & not loosing, even on demo, that they forget to experiment & try new ideas.... doesnt mean you have to put money on them.....

Josh, by far, you are well on your way to getting wherever you want to be.
Remember, dont get caught up in hype & time & $$$$. relax & have fun with learning... cause you can......
cheers Jeff..
Reply With Quote
  #39199  
Old Jul 28, 2009 11:33pm
Member
 
Member Since Jan 2007
More than 10 Vouchers  639 Posts
Default

Quote:
Originally Posted by dengzhi View Post
it's called overtrading.
there is over trading & then there is trading when you feel you have an edge , mentaly.

I think there is a distinct difference between trading in a negative emotion & a switched on positive emotion... Trick being, when positive to to recognise if its over confidence.. which happens often when we are new & thinking we have it down.

for me, not trading if I dont feel good is easy.. I just dont.. not even demo.

When I have had a run of success It becomes harder to say no... just like that girl at the bar you wouldnt talk to 2 hrs ago, but now after 8 beers she is looking not so bad..

but cause i have had this happen to me many times I see it now. So I stop, take a step back, & if I like the idea I demo it.
There is over trading & then there is trying new ideas... depends on how much money one risks...
Reply With Quote
  #39200  
Old Jul 28, 2009 11:42pm
Member
 
Member Since Jan 2007
More than 10 Vouchers  639 Posts
Default

Quote:
Originally Posted by ghous View Post
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...
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....
Reply With Quote
  #39202  
Old Jul 28, 2009 11:56pm
Member
 
Member Since Jan 2007
More than 10 Vouchers  639 Posts
Default

just to show what i mean by developing as a trader..


I am horrible at holding positions long term but I am trying to change that.
I do scalp.
I hate going negative..

but as a learning process I am demoing some trades. I will show you one.

Its not important to me weather this trade works or not but it is a lesson in sticking with the original plan till pa tells me otherwise.

I entered on the break of first pin & I thought this was a good area so wanted to give it some time.

It went to 1st supp as you would expect & this is where i normally get out.

I held, & whats more re-entered on the next pin, original plan still intact...

The 3rd pin i did not re-enter as I dont like the continued retesting of an area without breaking more in the other direction. NOTE. this can be seen on all time frames.

result is I'm still down & sl is in original place. I have not made money but I have held a position which I believe in....

Its all about learning constantly & trying things.. best thing about this is we dont have to loose money learning...
Attached Thumbnails
Click image for larger version

Name:	eugbp9.gif
Views:	54
Size:	12.1 KB
ID:	280260    
Reply With Quote
  #39207  
Old Jul 29, 2009 12:46am
Member
 
Member Since Jan 2007
More than 10 Vouchers  639 Posts
Default

Quote:
Originally Posted by TiaForex View Post
Great to see you here today Jeff. I learn a lot from you.

And I echo everything you say. My time in the research and development part of this business outnumbers my live trading time by over a hundred to one. I have four different demo accounts in which I am forward testing ideas that I have put through a backtesting process. I have some index cards of things I want to try when i have time.

I really enjoy the learning part. And by the time something gets to the stage where it goes live, I usually have confidence and it's fairly effortless. Then...

There are not enough hours...

I am going to throw something outthere that I know goes against conventional thinking here in ff. ready..

I dont backtest any new idea.. Yep, not at all..
I tried it & for me it doesnt give me the same emotion or feel as fwd testing does.. So for me it takes a long time to test a new idea. I only demo it real time & take it from there.

It helps me see if i am personally suited to the plan or not, usually real quick.
For me the main part of trading is all Physc, mental.... If it doesnt suit me or my life then i stop.
Hey Aaron hows the Ashes going for you...
Reply With Quote
  #39267  
Old Jul 29, 2009 12:30pm
Member
 
Member Since Jan 2007
More than 10 Vouchers  639 Posts
Default

Quote:
Originally Posted by rustyjeff View Post
just to show what i mean by developing as a trader..


I am horrible at holding positions long term but I am trying to change that.
I do scalp.
I hate going negative..

but as a learning process I am demoing some trades. I will show you one.

Its not important to me weather this trade works or not but it is a lesson in sticking with the original plan till pa tells me otherwise.

I entered on the break of first pin & I thought this was a good area so wanted to give it some time....

good push down today.
1st target reached.
next area is 84 then 82.
Attached Thumbnails
Click image for larger version

Name:	eugbp9.gif
Views:	19
Size:	12.1 KB
ID:	280613     Click image for larger version

Name:	eugbp10.gif
Views:	16
Size:	12.2 KB
ID:	280614    
Reply With Quote
  #39275  
Old Jul 29, 2009 1:32pm
Member
 
Member Since Jan 2007
More than 10 Vouchers  639 Posts
Default

Quote:
Originally Posted by jarroo View Post
Very nice jeff.

Just wanted to highlight more on the strength of the 87.00ish level. Its a very heavy confluenced level. PPZ level, 61.8, RD, 150 ema, with the down trend . . . wow, anything else?


absloutely.. Its these reasons I realy want to ride this down..

wife has just be online shopping again....
Reply With Quote
  #39447  
Old Jul 30, 2009 11:19am
Member
 
Member Since Jan 2007
More than 10 Vouchers  639 Posts
Default

Quote:
Originally Posted by ghous View Post
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.

I am trailing this one too.
lets see how todays bar closes. looking for a target of 82..
Attached Thumbnails
Click image for larger version

Name:	eugbp12.gif
Views:	28
Size:	12.3 KB
ID:	281329    
Reply With Quote
  #39462  
Old Jul 30, 2009 12:43pm
Member
 
Member Since Jan 2007
More than 10 Vouchers  639 Posts
Default

nice look to this one...
Attached Thumbnails
Click image for larger version

Name:	gbpchf8.gif
Views:	39
Size:	15.0 KB
ID:	281387    
Reply With Quote
  #39470  
Old Jul 30, 2009 1:31pm
Member
 
Member Since Jan 2007
More than 10 Vouchers  639 Posts
Default

this is not to bad either BUT I dont like that it closed above 1.53.
would rather wait & see if it closes as a pin & lower then 1.53 on the daily.
Attached Thumbnails
Click image for larger version

Name:	euchf.gif
Views:	26
Size:	10.6 KB
ID:	281418    
Reply With Quote
  #39528  
Old Jul 30, 2009 10:08pm
Member
 
Member Since Jan 2007
More than 10 Vouchers  639 Posts
Default

Quote:
Originally Posted by rustyjeff View Post
this is not to bad either BUT I dont like that it closed above 1.53.
would rather wait & see if it closes as a pin & lower then 1.53 on the daily.

Went right to 1.53. before now retracing to the 50/61.

still waiting to see if we get pa to show the way..
Attached Thumbnails
Click image for larger version

Name:	euchf.gif
Views:	17
Size:	10.6 KB
ID:	281669     Click image for larger version

Name:	euchf1.gif
Views:	18
Size:	10.6 KB
ID:	281671    
Reply With Quote
  #39579  
Old Jul 31, 2009 11:38am
Member
 
Member Since Jan 2007
More than 10 Vouchers  639 Posts
Default

another couple of good trades on a busy friday morning.

the first was a ct tade on euro which just made it to 2xR.

the next 2 were with trend & tp was 1R. would have liked to have held the 2nd gu one but rules are rules....

have a good weekend all..
Attached Thumbnails
Click image for larger version

Name:	euro11.gif
Views:	48
Size:	12.0 KB
ID:	282100     Click image for larger version

Name:	gu22.gif
Views:	45
Size:	11.2 KB
ID:	282101    
Reply With Quote
  #39582  
Old Jul 31, 2009 11:57am
Member
 
Member Since Jan 2007
More than 10 Vouchers  639 Posts
Default

Quote:
Originally Posted by Jlr View Post
Nice

About the first GU one, you considered that with the trend? How are you defining trend, anything different then what ryan has taught? 2nd was cool I thought.
(Also is that a trendline on the EU?)

I considered it the start of a new trend.
I saw a steep rise followed by a less steep fall back to the 50/61 fib area giving a pin on the midle bb. giving a higher low.

of course these are not garenteed but it was worth 2% to me.
Attached Thumbnails
Click image for larger version

Name:	gu23.gif
Views:	19
Size:	10.6 KB
ID:	282126    
Reply With Quote
  #39588  
Old Jul 31, 2009 1:15pm
Member
 
Member Since Jan 2007
More than 10 Vouchers  639 Posts
Default

exhaustion on friday arvo..

right @ weekly ppz..

thats it for me.. now
Attached Thumbnails
Click image for larger version

Name:	gu24.gif
Views:	36
Size:	11.9 KB
ID:	282196     Click image for larger version

Name:	gu25.gif
Views:	35
Size:	12.4 KB
ID:	282197    
Reply With Quote
  #39859  
Old Aug 4, 2009 8:46am
Member
 
Member Since Jan 2007
More than 10 Vouchers  639 Posts
Default

Do Aston Martins qualify for the govt. cash for clunkers program..
Reply With Quote
  #40360  
Old Aug 7, 2009 12:00pm
Member
 
Member Since Jan 2007
More than 10 Vouchers  639 Posts
Default

Quote:
Originally Posted by mbqb11 View Post
You could Frame this post your thought process and everything about it. You and Ol nailed it. You SHOULD be happy and excited.

Congrats Ben
Mike

Move over Mikey.. these guys are making this trading thing look too easy..
Reply With Quote
  #40373  
Old Aug 7, 2009 12:30pm
Member
 
Member Since Jan 2007
More than 10 Vouchers  639 Posts
Default

Quote:
Originally Posted by mbqb11 View Post
I guess I can have my first beer earlier today

Great thing to watch the youngins(yes I can finally say that to someone else besides ghous) grow up

yep... I think i will crack a coldie as well.. I didnt trade any of this being nfp day but it was good to watch..
Interesting to watch the US dollar get stronger on good news.....
Havent seen that for a couple of years.. Has it really been that long..? I am still doing this & actually making money..

Does that mean it can be done??? I guess it does...
Ooooooh I feel a hangover coming.
Reply With Quote
  #40377  
Old Aug 7, 2009 12:36pm
Member
 
Member Since Jan 2007
More than 10 Vouchers  639 Posts
Default

Quote:
Originally Posted by ghous View Post
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!)

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??
Reply With Quote
  #40381  
Old Aug 7, 2009 12:48pm
Member
 
Member Since Jan 2007
More than 10 Vouchers  639 Posts
Default

Quote:
Originally Posted by ghous View Post
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"
Mansion...

I use the same set up at home too.. I am kind of intimidated by computers.. so if it aint broke dont fix it.
Reply With Quote
  #40385  
Old Aug 7, 2009 12:57pm
Member
 
Member Since Jan 2007
More than 10 Vouchers  639 Posts
Default

Quote:
Originally Posted by mbqb11 View Post
Jeff I might be wrong but like a year ago I could swear you didn't even know how to get into excel, and turning on the computer to get to the forums was about as far as you were.

Was that you or someone else. LOL
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.
Reply With Quote
  #40392  
Old Aug 7, 2009 1:26pm
Member
 
Member Since Jan 2007
More than 10 Vouchers  639 Posts
Default

Here is the euro too Raz.

looks similar..
Attached Thumbnails
Click image for larger version

Name:	euro13.gif
Views:	25
Size:	12.1 KB
ID:	286105    
Reply With Quote
  #40680  
Old Aug 11, 2009 11:45pm
Member
 
Member Since Jan 2007
More than 10 Vouchers  639 Posts
Default

Quote:
Originally Posted by james16 View Post
goose has me thinking.

a chart is a chart and i used to post other things all the time.

maybe i will get back to it from time to time.

yes you did.......
I remember that..
Reply With Quote
  #40699  
Old Aug 12, 2009 2:04am
Member
 
Member Since Jan 2007
More than 10 Vouchers  639 Posts
Default

Quote:
Originally Posted by pakiestra View Post
Good job I've listen to my internal feeling about it and had it confirmed by more experienced traders and by the rules of PA- Thank you StoragePro
Pin was a poodle and was broken easily. CAD?JPY went down further and this bar was like a bit of indecision. This stuff is realy working.
Attachment 288065

Is still hell of a lot for me to learn and practise. Hope you all guys here will have enough patience. Going through the thread is basic and still have some more to go

i'm sorry but I fail to see a pin you could take long if thats what you did
Reply With Quote
  #40702  
Old Aug 12, 2009 2:53am
Member
 
Member Since Jan 2007
More than 10 Vouchers  639 Posts
Default

Quote:
Originally Posted by supremeChaos View Post
Good job.

yes Sir, he was referring to the 2nd to the last bar, here.

Still not even close to a good looking pin..
just my opinion..
Reply With Quote
  #40705  
Old Aug 12, 2009 3:15am
Member
 
Member Since Jan 2007
More than 10 Vouchers  639 Posts
Default

Quote:
Originally Posted by tfflyer View Post
GBP/USD - daily IB + Two bar low break.

B,
Tom
What are trying to do??
Reply With Quote
  #40707  
Old Aug 12, 2009 3:36am
Member
 
Member Since Jan 2007
More than 10 Vouchers  639 Posts
Default

Quote:
Originally Posted by tfflyer View Post
Hi,
i shorted GBP/USD.

b,
Tom
Not trying to be an arse.. but why would help...
I mean give me your plan for this trade.... If you dont mind. of course..
Reply With Quote
  #41050  
Old Aug 14, 2009 7:20pm
Member
 
Member Since Jan 2007
More than 10 Vouchers  639 Posts
Default

Quote:
Originally Posted by supremeChaos View Post
... aha, just like me...
we're almost similar, but im much worse...

i'm rustyjeff's imposter. i'm the imposter bum who's not yet consistently profitable.
Your getting there... & what i put here is not aimed at you but all traders going through the seemingly endless cycle of breakeven...

I'm going to take this opportunity to share something that made the difference for me when trying to become consistantly profitable.. let me say first, that it did not happen overnight. It took 'some' time & a deep struggle internally to accept what works & what doesnt.
NOTE.. I am still working on getting better all the time as I think all traders do.. To streamline & make trading as efficient as possible..

First. If you dont have a strict plan with rules for entries, mm, & exits. get one.... even if it is as simple as only risking 1% closed equity & playing every daily pin you see.. no matter where it is. (not a trade plan recomendation)

The point is to try a plan, 2or 3 different plans if you think you can handle it & can keep them separate. If you are anything like me, & not real quick you will try a few at the same time & end up going back to what you did before...... then get frustrated again... DO ONE ONLY.....

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..

just try this for 3 months next to what you are doing & see what the results are. If you are not consistantly making money now I would think this will show you why..

This is not the best way to handle all trades but if you cant stick to simple rules & a simple plan, no matter the results then you will never make money over the long term in any market..

The more I stick to simple rules the better i get..

I am not an expert but this is what helped me to make more money every month.. more than trying to tweak a system or find early entries on daily pa.
but i do have early entries sometimes....

Its a simple exercise & yes you could use the daily pin plan as an example.
Its not the results thats important but seeing if you can follow a simple plan no matter what. With daily pins for example use a tp of the first area of resistance/support no matter what the r:r is. its just an exercise..

It helped me.. I hope it helps someone else..
Reply With Quote
  #41078  
Old Aug 15, 2009 5:36pm
Member
 
Member Since Jan 2007
More than 10 Vouchers  639 Posts
Default

Quote:
Originally Posted by benji533 View Post
Jeff, great post, thanks!
But I think I tend to agree with the sir above.

Sometimes I see real nice shaped pin bars off confluence, and I just automatically place my TP order at the first trouble area without thinking, if I know this isn't a long term potential trade (maybe lots of traffic ahead, just a pullback (against the trend), etc...
On the other hand, If I will see a very nice setup at extreame high or low, and with a lot of space to move ahead, I wont have a certain exit rule. I will trail my stop according to the development of the trade,...

Yes I agree.
My post says this is just an example for the purpose of following a simple plan, not for results. Results are secondary for the exercise for if you cant do that you will never be consistantly profitable.
everyone should should come up with their own plan but if nothing else try what i said for an exercise.
cheers
Jeff
Reply With Quote
  #41286  
Old Aug 18, 2009 2:07am
Member
 
Member Since Jan 2007
More than 10 Vouchers  639 Posts
Default

Quote:
Originally Posted by mbqb11 View Post


No regrets buddy, it isn't about this trade you know that. It is about all your trades, and you know what works for you. That is what it comes down to in the end. Confidence is very important and Jarroo has it and that is why he kills it!
Mike has spelled it out....
Reply With Quote
  #41642  
Old Aug 20, 2009 12:40pm
Member
 
Member Since Jan 2007
More than 10 Vouchers  639 Posts
Default

Ryan will be all over this..
Attached Thumbnails
Click image for larger version

Name:	euro19.gif
Views:	60
Size:	15.5 KB
ID:	292848    
Reply With Quote
  #41646  
Old Aug 20, 2009 1:29pm
Member
 
Member Since Jan 2007
More than 10 Vouchers  639 Posts
Default

Quote:
Originally Posted by Ryanmcd View Post
Was in the shower when that one came up LOL story of my life. One thing I am getting good at now is not caring about missing one because I will have a setup again

I know what you mean..
that one took me out @ cost.. was looking for it to go to bottom of channel.
NEXT....
Reply With Quote
  #42163  
Old Aug 26, 2009 2:05pm
Member
 
Member Since Jan 2007
More than 10 Vouchers  639 Posts
Default

Quote:
Originally Posted by StoragePro View Post
I'll play - I'm bored at work.

A few pips... Green dashed line is 1.7450, grey box is a PPZ, Light gray dotted is 1.7500.

A few pips. 80 to 100 maybe. Then a bounce down. Maybe. Maybe not. Perhaps a shot at a retrace entry on this bar... Hhmm... Maybe...

BTW -- Do any 'catching' this week?

looking at the 4hr..
this has all the hallmarks of playing a retrace to me..


look for a Rac fave on this one.......
Attached Thumbnails
Click image for larger version

Name:	gbpchf9.gif
Views:	35
Size:	18.8 KB
ID:	296158    
Reply With Quote
  #42167  
Old Aug 26, 2009 2:48pm
Member
 
Member Since Jan 2007
More than 10 Vouchers  639 Posts
Default

Quote:
Originally Posted by raczekfx View Post
I did last week, this week no... I do a lot of flying this week.

btw: if anyone has a spare carbon wing tube for this bird pls PM me.

Sounds like someone might have had a rough landing....
Reply With Quote
  #42171  
Old Aug 26, 2009 2:57pm
Member
 
Member Since Jan 2007
More than 10 Vouchers  639 Posts
Default

Quote:
Originally Posted by mbqb11 View Post
I just turned 17

bloody young snappers...
Reply With Quote
  #42180  
Old Aug 26, 2009 3:31pm
Member
 
Member Since Jan 2007
More than 10 Vouchers  639 Posts
Default

Quote:
Originally Posted by rossbennett View Post
Rac,

just wanted to clarify, you bought on the break of the bar with the yellow arrow? You saw the buovb begin to form, and instead of waiting for the bar to close as a buovb and wait for the traditional entry trigger, you bought when the high of that bar was breached. is that correct?

Ross

I think a few people took this trade..
Just as an example.. this is a conservative trade using J16 & common sense..

4hr buob.... obvious..

where likely to go?? fib retrace to start...
When not in front of comp. or busy with 5m stuff I set & forget.

result.. not as many pips as Rac. but just as probable to work..

point is.. Look after your capital first.. trade with defined rules & profits will look after themselves....
Attached Thumbnails
Click image for larger version

Name:	cad8.gif
Views:	31
Size:	14.7 KB
ID:	296202    
Reply With Quote
  #42196  
Old Aug 26, 2009 5:52pm
Member
 
Member Since Jan 2007
More than 10 Vouchers  639 Posts
Default

Quote:
Originally Posted by james16 View Post
i see my good friend forexhen is among us.

i would like to personally apologize for racs and storage pros lack of tact kind lady.

I think Sam knows us all....
Reply With Quote
  #42197  
Old Aug 26, 2009 5:54pm
Member
 
Member Since Jan 2007
More than 10 Vouchers  639 Posts
Default

Its you baseball nuts that are excited anyway.. At least your not as bad as soccer nuts..
Reply With Quote
  #42206  
Old Aug 26, 2009 6:21pm
Member
 
Member Since Jan 2007
More than 10 Vouchers  639 Posts
Default

Quote:
Originally Posted by Jigsaw View Post
Soccer is a terrible game, 90Minutes of watching for a 0-0 draw ? No sir.

We have a type of Baseball over here that mostly children play, it's called rounders, pretty fun to play but boring to watch.

I love American Football, But I just record the games and then fast forward through the breaks, I still don't know why they need all those breaks and different teams, the only American Football game I ever watch live is the Superbowl.

Rugby is decent, Gaelic football is good but imho Hurling is the king of all sports. Although I would...


Jig..
I was the same when I first came to America... Didnt understand why they had so many breaks & teams... but after being here & watching for 10 years I see how strategic it is.. it takes time to learn when your used to rugby, gaelic, ausie rules.... but it is fun. especialy at a live game... the cheerleaders are worth going to see in & of them selves.. even better when you watch from a box... they visit

for the record... I am a Dolphan...... look out you NE patriots.
Reply With Quote
  #42207  
Old Aug 26, 2009 6:28pm
Member
 
Member Since Jan 2007
More than 10 Vouchers  639 Posts
Default

Quote:
Originally Posted by rustyjeff View Post
Jig..
I was the same when I first came to America... Didnt understand why they had so many breaks & teams... but after being here & watching for 10 years I see how strategic it is.. it takes time to learn when your used to rugby, gaelic, ausie rules.... but it is fun. especialy at a live game... the cheerleaders are worth going to see in & of them selves.. even better when you watch from a box... they visit

for the record... I am a Dolphan...... look out you NE patriots.

And dont talk to me about Dallas..

they are going down too
Reply With Quote
  #42211  
Old Aug 26, 2009 6:39pm
Member
 
Member Since Jan 2007
More than 10 Vouchers  639 Posts
Default

Quote:
Originally Posted by james16 View Post
Well i cant argue the dallas point but if you you dont step back and change dolphan to dolphin im gonna have a little fun with you and i probably wont be the only one old buddy.


Yeah. ok.. you got me there..
but thats what they call us here ..


what you gonna do now you lost TO...

we get to take him down this year....he belongs on a teenage girls show from cali..
Reply With Quote
  #42214  
Old Aug 26, 2009 6:45pm
Member
 
Member Since Jan 2007
More than 10 Vouchers  639 Posts
Default

Quote:
Originally Posted by Jigsaw View Post
Hmmm, thats a good point about the strategy, I have only been watching American Football for around four years now.

I used to support the NE Patriots, but I had to stop supporting them because they were just too much of an obvious choice, everyone I met here in Ireland either supports the Patriots or the Giants (hmmm wonder why)

Minnesota Vikings all the way now !

C'mon Jig,
switch to dolphins they have an awesome heritage & are not too gloating about it like the others....

BTW did I mention that they are the only team to go undefeated in a season...

&&&&& we were the team who stopped the ne pats going undefeated 2 years ago & that was the only game we won that year....

hows that for character & spirit... the next year,,, last year,, we were division champs...

need I say more....







wonder if stirrs anything
Reply With Quote
  #42217  
Old Aug 26, 2009 6:48pm
Member
 
Member Since Jan 2007
More than 10 Vouchers  639 Posts
Default

Quote:
Originally Posted by mbqb11 View Post
Dude I am such a big Vikings FAN! HERE WE GO SKOL VIKINGS

FAVRE BABY!
Farve might as well be dead..

& in purple... wth

did you see what the dolphins did to him last year... & were sposed to be crap
Reply With Quote
  #42221  
Old Aug 26, 2009 6:50pm
Member
 
Member Since Jan 2007
More than 10 Vouchers  639 Posts
Default

In case people didnt notice..
I love football
I love the Dolphins...

Superbowl is in Miami this year....
Reply With Quote
  #42222  
Old Aug 26, 2009 6:52pm
Member
 
Member Since Jan 2007
More than 10 Vouchers  639 Posts
Default

ok....
enough is enough.....
GO DOLPHINS.........
Reply With Quote
  #42223  
Old Aug 26, 2009 6:53pm
Member
 
Member Since Jan 2007
More than 10 Vouchers  639 Posts
Default

no way..
he just came off the farm..

he cant play 20 games in a row
Reply With Quote
  #42227  
Old Aug 26, 2009 6:55pm
Member
 
Member Since Jan 2007
More than 10 Vouchers  639 Posts
Default

Quote:
Originally Posted by mbqb11 View Post
Jeff what did I ever do to you!

nothing but inspire me sir....

but you are from new york..
& this is football season......yeah....
Reply With Quote
  #42229  
Old Aug 26, 2009 6:56pm
Member
 
Member Since Jan 2007
More than 10 Vouchers  639 Posts
Default

Quote:
Originally Posted by james16 View Post
the old dude takes the vikings to the playoffs this year.

print it.
oh..... your on...

like donkey knong.....
Reply With Quote
  #42231  
Old Aug 26, 2009 6:59pm
Member
 
Member Since Jan 2007
More than 10 Vouchers  639 Posts
Default

Quote:
Originally Posted by Jlr View Post
Gb is going to surprise everyone this year.......
Their new 3-4 defense, with all of the weapons they have, and their offense which will put up points game in and game out... not to mention they are one of the youngest teams and will only get better. Bold call from a 4-12 team, but I'm predicting new dynasty in the making, and not just because I'm a packer fan Well maybe a little bit...

Reply With Quote
  #42233  
Old Aug 26, 2009 7:03pm
Member
 
Member Since Jan 2007
More than 10 Vouchers  639 Posts
Default

Oh yeah..
This is my weekness..

like my footy team back home... Port Power...
I am one eyed... dedicated fan...
Reply With Quote
  #42235  
Old Aug 26, 2009 7:09pm
Member
 
Member Since Jan 2007
More than 10 Vouchers  639 Posts
Default

Quote:
Originally Posted by james16 View Post
LOL.

your probably right but i gotta gut feeling the legend grows as a result of this year.

luckily you dont trade on those gut feelings..... or do you?????
Reply With Quote
  #42240  
Old Aug 26, 2009 7:21pm
Member
 
Member Since Jan 2007
More than 10 Vouchers  639 Posts
Default

Quote:
Originally Posted by Jigsaw View Post
Aussie football is a goddamn great sport.

Didn't know you were there originally.

It's a shame that all your footie clubs are financially broke now so you can't come over and play against Ireland in the Fighting Competition . . . I mean International Rules football !

Absolutely.. We all loved seeing those games.

And yes Jig I'm an expat Ozzie.. I hope to go home some day but right now i'm too busy..

Now I live in south florida.. Its ok I spose... Haa its great.. the weather is awesome, (except now, its so hot & wet) but the senery is fantastic..

Speaking of which I am about to go out for dinner...


My wife is away again, about which I'm not happy but I have American family & friends who I see often so all isnt so bad..
Reply With Quote
  #42291  
Old Aug 27, 2009 12:43am
Member
 
Member Since Jan 2007
More than 10 Vouchers  639 Posts
Default

Quote:
Originally Posted by StoragePro View Post
I just lost all respect...

You will regret what you said.....
Reply With Quote
  #42292  
Old Aug 27, 2009 12:46am
Member
 
Member Since Jan 2007
More than 10 Vouchers  639 Posts
Default

Quote:
Originally Posted by StoragePro View Post
Bills Fan.... I wish there was a 'smiley' with a bag over his head.

bills fan..... hahahhahahahahahahaa
Reply With Quote
  #42294  
Old Aug 27, 2009 12:50am
Member
 
Member Since Jan 2007
More than 10 Vouchers  639 Posts
Default

we will absoluty throttle you guys...

you will see
Reply With Quote
  #42513  
Old Aug 29, 2009 2:07pm
Member
 
Member Since Jan 2007
More than 10 Vouchers  639 Posts
Default

Quote:
Originally Posted by jarroo View Post
This looks good matt. It is at a swing low, the size and shape could be better. It is trading into a PPZ level, 1.2300-1.2350, at the bottom of the previous consolidation area (peach). Daily shows the 365 ema adding strength to this PPZ level.


Price could break up through the PPZ level, use it as support and continue in the peach consolidation area as it did in the past.

Or break down because of the PPZ level and the weight or mass of the previous consolidation area.

My thinking is that Price will continue downward. Note the candle that...

I agree with Jim..

If I traded this pair I would be looking for a 4hr bearish pin off the 1.2350 area as shown on jims chart..

You could of course trade long into that area but be ready for a quick reverse. when reading pa it pays to read the whole chart to get the real story.. try not to focus just on an individual bar but what the overall chart is saying...

It just takes practise & time, unless you are 16 or younger, then it seems to come quick & easy.......

No offense to the young snappers here....
Reply With Quote
  #42514  
Old Aug 29, 2009 2:15pm
Member
 
Member Since Jan 2007
More than 10 Vouchers  639 Posts
Default

Quote:
Originally Posted by benji533 View Post
You like my analysis eh?

Ok check this out. I will share something I am working on. IMO anyone can trade pin bars and outside bars on their break without a problem. Like I have said earlier, I also like this business cause it is fun and challenging, I enjoy it. This is a bit more advanced stuff that I am not suggesting to trade live after you make your back testing on it. Hope won't confuse anyone.

During the back testing time I have spent to build my intraday method based on round numbers and order flow, I have noticed something interesting....

Geeeeez, you are catching on quick...

I do this all the time.. try adding fib retaces of the main pa bar & look for your pa on 1 or 2 tf's lower for confirmation...
keep it up Ben.. your doing awesome
Reply With Quote
  #42524  
Old Aug 30, 2009 2:18am
Member
 
Member Since Jan 2007
More than 10 Vouchers  639 Posts
Default

Hey joel ...

Just wanted to say I like reading your posts..
You obviously have knowledge in how things work practically...
I have read about what you say but to see it appear hear is just more confirmation..
Thank you.
Jeff
Reply With Quote
  #42830  
Old Sep 1, 2009 4:35pm
Member
 
Member Since Jan 2007
More than 10 Vouchers  639 Posts
Default

Quote:
Originally Posted by Rocket! View Post
Wow, last thing I expected to see when I was going back over missed posts - youtube Hurling clips!

Great to see another Irish man on the thread. Of course, most people will tell you theres a bit of Irish in them... and if theres not, well, gimme a few beers and I'll see what I can do!!

Heres a another clip for any non Aussie/Irish who isn't familar with the International Rules 'Football' Jigsaw was referring to:
http://www.youtube.com/watch?v=OIGREZw4Sr4#

I was at most of those games. Man, ye Aussies couldn't beat eggs. I mean...

Carefull where you go fishing Rocket..... there might be sharks in the water.....
Reply With Quote
  #42833  
Old Sep 1, 2009 5:36pm
Member
 
Member Since Jan 2007
More than 10 Vouchers  639 Posts
Default

Quote:
Originally Posted by atton View Post
Hi. I am new to this thread. I ve recently start learning PA. May someone explain me shortly about the PA patterns that James16 uses and when should I short them or long them. Or atleast post some link or etc about them. Thanks in advance .

you will find a wealth of information if you start @ page 1 & start reading..

Its well worth your time .. all that are good traders here have done it..

welcome to the thread..
Reply With Quote
  #43013  
Old Sep 3, 2009 4:08pm
Member
 
Member Since Jan 2007
More than 10 Vouchers  639 Posts
Default

Quote:
Originally Posted by jarroo View Post
The Raczman would be very proud. lol

Would you look for lower time frame PA to help confirm your position? There's some bullish PBs down there.

I think I answered my own question.


Thanks Jim

whoop there it iss

1 & 4hr pb
Attached Thumbnails
Click image for larger version

Name:	uj10.gif
Views:	50
Size:	17.0 KB
ID:	302483     Click image for larger version

Name:	uj11.gif
Views:	27
Size:	10.6 KB
ID:	302484    
Reply With Quote
  #43015  
Old Sep 3, 2009 4:29pm
Member
 
Member Since Jan 2007
More than 10 Vouchers  639 Posts
Default

Quote:
Originally Posted by jarroo View Post
Thanks Jeff. I can't post charts right now.

the latest 4hr...

30 mins till close.. looking interesting.. Jim
Attached Thumbnails
Click image for larger version

Name:	uj11.gif
Views:	18
Size:	11.9 KB
ID:	302493    
Reply With Quote
  #43031  
Old Sep 3, 2009 7:12pm
Member
 
Member Since Jan 2007
More than 10 Vouchers  639 Posts
Default

Quote:
Originally Posted by squeezy View Post
i saw the pin off 92 round no but i wasnt convinced by the small size (poodle)... & now this pin with the 4hr trend of trendline telling me to short to retest 92 but ill watch and see how it plays out....

watching the daily chart, next week should be interested....looks ready to breakout

Hey squeezy, this is not directed @ you but sparked something in me..

I have a few different methods I use, so charts mean different things to me on different tf's..

I like a short here on uj to retest the low made today..

doesnt mean i would hold a short to the exact low though maybe get out @ 55% retrace..
There is a nice bullish bar to suggest turning higher & I agree with that..

Playing off nice support going higher makes sense. but long term trend is down..??????

What do we do???

ITs up to the individual trader what they do , how they trade, what methods & what tf's they use.... making it all work together is the challenge..

All the information one needs is here. Just look at Ben. He's worked it out, for now...... Wait till he gets older or he starts thinking too much, or starts trading with money he cant afford to loose.....

Not suggesting he will fail... On the contrary I think he will do great cause he has started with nothing to loose & everything to gain..

people who have no money usually think the same but they are wrong...
when you have to buy food ,pay rent/mortgage, put petrol in the car, pay for tuirion, pay taxes , by birthday gifts etc, etc..... you get the idea..

people with no money have the most to loose.....

The point of my rant I spose is what Jim allways says... This is really, really simple........... Its us (the trader) that make it hard...

How do we get around this simple Vs hard senario? Well it takes a lot of work, genuine effort, & experience... BUT the biggest help anyone here can do for themself is to create a specific set of rules for methods, entries, exits, what I do if i have to leave the house,,,.... etc..... OK. NOW write them down & sit them next to you where you trade so you can see them..



I get pm's about consistancy & getting there in trading all the time so this is why I put this here..



when you sit there about to trade, you have your rules, you can see them, at least glance at them??? If they are there all the time you will allways be reminded of your rules & hopefully are less likely to break them...

note.. If you have only 1 method, & all new traders should only have 1. then your specific rules will fit easily on an A4 sheet.

I have mine (3 methods) all noted on 1 page next to me...

Being able to stick to ones rules is the biggest problem when it comes to consistancy & forever profitability.. Think about it.. If everything we do is an average, then how do we know where we may be in 10 years if we keep changing the rules???

To be consistantly profitable we must show consistancy ourselves.. & we can only do this by developing & maintaining our rules...

You can trade off 5m charts to monthly charts... I dont care as long as you have set conditions for your entries, management & exits....

This, I think is the biggest stummbling block to all that try trading... Trading IS simple.. Its only traders that mess it up...


cheers
Jeff
Reply With Quote
  #43039  
Old Sep 3, 2009 8:40pm
Member
 
Member Since Jan 2007
More than 10 Vouchers  639 Posts
Default

Quote:
Originally Posted by mbqb11 View Post
spell check and coffee my friend

but a hot secretary sounds fine too LOL

Ha.. yeahh....bullshxt...

send us her pic......
Reply With Quote
  #43172  
Old Sep 5, 2009 11:40am
Member
 
Member Since Jan 2007
More than 10 Vouchers  639 Posts
Default

Quote:
Originally Posted by benji533 View Post
Hey seniors,

I would like to hear what do you think about this.
Sorry for the 30min chart. I have noticed it only after I boxed the areas, but it happens on all time frames.
This can allow me to get a nice trade based on a very small pip stop.

Ben

Hey Ben.....
Again you are noticing ways to use pa.. awesome.
as you get better & more practised with pa you might not call them blind entries anymore..

The euro is my favorite pair to trade & so I know it well.. It will do what you have pointed out nearly all the time.. Remember price just reflects what other traders are doing/thinking.. The euro being the most traded currency will often be very predictable...

Now combine your boxes with the 00, 50 numbers & have a look..

The euro loves these numbers.. It will use these as launching places & rest stops.. Have a look at where the euro price ended @ 5pm est all last week... most of the time it will be at a 00, or 50..
It will bounce around there during the asian session then move when eu opens...

I often will enter using 5m or 15m charts at these areas.. not just on a blind entry but with good pa... A fave of mine will be a quick double bottom/top with divergence & pa like a pin or outside bar on the 2nd touch on the 5m .. sometimes we get a 3rd, slightly higher/lower bounce before it takes off.. this then sometimes gives pa on the 1-4hr. *** If I dont get confirming pa that I like I dont enter, simple....

****** Please anyone reading this... dont ever enter any trade blind......no matter what tf you use.
Have your rules for your strategies & follow them.. If you are not sure about what you are doing... dont do it....******


As you are picking up Ben.. location is the most important part of all this.. With pa to back up a solid location our probability for a money making trade go up.... not garenteed but improve...

As you have done, find your likely areas then just wait for the trade to come to you...
You are doing great Ben..you are finding & picking the details in only months what took me years to believe in ....
keep it up mate..
Reply With Quote
  #43176  
Old Sep 5, 2009 1:36pm
Member
 
Member Since Jan 2007
More than 10 Vouchers  639 Posts
Default

Quote:
Originally Posted by benji533 View Post
Just a question. Do you use the minor round numbers like 50 and 00 when you trade the 5min? or the larger round numbers like i do - 500 and 000 ?
I think that because the 5min-15min are really low, the minor numbers can do the job good enough as well...need to check it out.



Ben

Specificaly about the euro.....

Basically the bigger the round number the bigger the physcology behind it...

There are so many people, companies banks all over the world trading the pair & all for their own reasons.. long term trades are based off the larger round numbers. Shorter term & day traders base there trades around the smaller ones..

I have daily trades & intraday trades... I find virtually all of my intraday trades start near 00 or 50..

After a large swing if I get an entry on the daily it is more often near a larger round number...1.4000, 1.5000 etc. but i like anything ending in 00, 50
This is not gospel but as I go fwd in my trading I am finding that more of MY trades are entered near round numbers on the EURO... I pay less attention to them on other pairs....

Mark, Aka Rac, doesnt pay any attention to them. we all find our own way & all develop our own comfort zone.. Just compare Jim, Mike, Mark, fx vision, SP, Seeking,Jaroo... they all take different trades & are all profitable... Occaisonally the stars & planets align & we all might be on the same one but thats rare...

How we get there is different for all, but the thing that remains the same is that it takes time, patience & practise, practise, practise...to build confidence in our own style & strategies..
you are on the right path my friend..
Reply With Quote
  #43177  
Old Sep 5, 2009 1:51pm
Member
 
Member Since Jan 2007
More than 10 Vouchers  639 Posts
Default

Quote:
Originally Posted by benji533 View Post
ok so I have began my back testing on this, and wanted to bring one example of how my though process is going currently.
I have just combined all the factors Aaron and Jeff pointed out, and found this setup. The divergence is missing, but it still worked (divergence is just a momentum indicator, so no reason it won't work without it - thanks to Joel).

Just to be clear. All the idea is to catch large moves with a small pip stop. So even if I'll get a supper low win rate I'll be in profit.
Because the win rate is important to me mentally - I will...


thats exactly what i mean...
In fact.. I posted both those pins in my journal in the pf...
First was off a 50, the 2nd @ 1.4300

look at obvious they are... if that was a daily chart would you hesitate????

We can still be picky on the 5m.. I am.. i had only 4 or 5 i think this week.

I remember the one @ 1.43 because it was near the end of the us session..
so it was the euro just settling near a 00 for overnight which it does alot.

I think I was talking to seeking about it..in the pf. I would take it back to 1.43 then take !/2 off ... 10 pip stop left where it is . now trade is free.


the first one had divergence too If I remember correctly..
Reply With Quote
  #43179  
Old Sep 5, 2009 2:29pm
Member
 
Member Since Jan 2007
More than 10 Vouchers  639 Posts
Default

Quote:
Originally Posted by benji533 View Post
hehehe sounds great means I'm on the right track with this if you took that pin as well.

By the way, do you limit this TF for specific seasons? which?

Thanks for sharing buddy

Ben

If i understand you correctly, No I dont limit myself to 5m tf..

My main charts are 4hr.. I check daily charts daily & weekly charts weekly for trades. too.

I have 3 strategies that I use.
One.. is based on the daily tf.
2.. is based on the 4hr with entries sometimes on the 1hr.. (intraday)
3.. is the 5m with strict targets.

I trade full time so I have the time to do all this.. If I had a full time job I would only stick to daily & maybe the 4hr.
Reply With Quote
  #43181  
Old Sep 5, 2009 2:59pm
Member
 
Member Since Jan 2007
More than 10 Vouchers  639 Posts
Default

Quote:
Originally Posted by benji533 View Post
I think I didn't ask clear enough

I mean, do you trade the 5min chart only during London season? Are there any certain hours during the day that you will never enter a new trade because lack of activity or some thing like that (night)?

Ben

Oh.. sorry.

I trade the US session.. I am asleep for the euro open.
So I trade from 730-800 est. to 5pm generally speaking....

I live in florida so gmt-5.

i tried at the start getting up for euro open like mike does.. couldnt do it..

If i enter a trade on the 5m near the end of day I will wait till i'm done or at least get to be.

If i'm still in a trade from intraday (4hr) I will look to see if the pa warrents holding overnight. If not i'm at least to be or I take profit.. I will set more conservative profits too if holding overnight... usually it will be done while I sleep..

I do watch the asian open, 8pm here if i'm at home & if there is a trade I will take it. this doesnt happen often though.. again If i enter a trade during asian session I will wait to get to be at least before walking away..
Reply With Quote
  #43183  
Old Sep 5, 2009 3:23pm
Member
 
Member Since Jan 2007
More than 10 Vouchers  639 Posts
Default

Quote:
Originally Posted by benji533 View Post
I get back home around the time you start trading, nice.

So basically I only need to be more conservative during the Asian seasson.

Thanks for the reply Jeff

Ben

Well I just dont look at it as much & There just are less trades that I like to take then so I dont worry about it too much.

Also If I have had a very profitable morning (more than normal) I will just stop trading the rest of the day.. I find it helps me stop getting overconfident & overtrading.
Reply With Quote
  #43210  
Old Sep 6, 2009 7:52pm
Member
 
Member Since Jan 2007
More than 10 Vouchers  639 Posts
Default

Quote:
Originally Posted by benji533 View Post
Just scrolled back on the 4H chart and found this within one minute.

Ben
hey Ben,
Its all pa & s/r....
dont get caught up in boxes.. They look good but they are just more shit on the chart.

You are allready doing well.. but i feel you are now getting caught up in the spiral of this is easy... now I will find something even better & easier..

good luck.. but I am here to tell you its a road ill travelled..

you have the basics & thats all you need.. believe me..

This stuff is easy as long as we stick to what is easy......

cheers
Jeff
Reply With Quote
  #43485  
Old Sep 10, 2009 5:11pm
Member
 
Member Since Jan 2007
More than 10 Vouchers  639 Posts
Default

here is one for Ben..

Aj buob on 4hr.. Wait for pullback to round number..
Attached Thumbnails
Click image for larger version

Name:	aj4.gif
Views:	65
Size:	14.2 KB
ID:	307922    
Reply With Quote
  #43491  
Old Sep 10, 2009 6:41pm
Member
 
Member Since Jan 2007
More than 10 Vouchers  639 Posts
Default

Quote:
Originally Posted by benji533 View Post
Hey buddy

Umm...I don't feel really comfortable with this setup. Reasons on the chart.

Ben

thats fine..
It went right to the first area. (as you have marked on your chart). this is where I went to break even..79.25
it may work or may not. but i wont loose...

I agree that you would want a better location for a longer term trade. but these setups work in many places.. as long as traders realise where thay are & protect themselves accordingly.
Reply With Quote
  #43493  
Old Sep 10, 2009 7:18pm
Member
 
Member Since Jan 2007
More than 10 Vouchers  639 Posts
Default

Quote:
Originally Posted by benji533 View Post
Yea that's right. It is also possible to trade B setups and just take full profit or BE at the first trouble area. What is important here is doing some thing after it stalls where you predicted and not taking a full bar lose.
I knew you will manage it good

Generally I look for more long moves...so I prefer trading into space, and with the trend. Then I can allow myself giving a trade a bit more space.

Ben

we all find our own way.. & you certainly look to have found yours..
I tend to trade shorter term than you with the occasional runner.. I also trade a lot less pairs now than I used to..but the ones I trade I might take more B & even C trades than others here... I dont post even half cause I dont want people trying to do the same...I trust what I do & have my strategies so am happy..

Again.. we each find what works for us & then take advantage of it..

go get them Ben.. you look to have a handle on a style that works for you well... soon you will be a fund manager.....
Reply With Quote
  #43517  
Old Sep 11, 2009 4:51am
Member
 
Member Since Jan 2007
More than 10 Vouchers  639 Posts
Default

Quote:
Originally Posted by Shermenator View Post
GBPUSD Short

Attachment 308292

good luck..
what was your entry..
I wouldnt mind shorting off 67
Reply With Quote
  #43868  
Old Sep 16, 2009 9:13am
Member
 
Member Since Jan 2007
More than 10 Vouchers  639 Posts
Default

Quote:
Originally Posted by jarroo View Post
For you Rac fans out there (like myself). Don't know if he would have been filled because the white box wasn't hit. Blue box is the Daily PB, nice confirmation if the order was filled.

Thats where I had mine..91.75..didnt get filled. so played the pin as was..
Reply With Quote
  #43919  
Old Sep 16, 2009 5:03pm
Member
 
Member Since Jan 2007
More than 10 Vouchers  639 Posts
Default

Quote:
Originally Posted by Ryanmcd View Post
on this weeks market action on the 5min... Please see attached chart.

agreed..
I took this at the close of ny.
I do these sometimes.. I like the way the euro will tend to drift towards the closest 00,50 after close of ny..

since it didnt make 4750 & the most recent high 4718. I took a 61 retrace of the final down move to enter with a tp @ 4710. for 2r.

It will probable waffle around 4700 till euro open..
anyway its only my 2nd this week.. so its been slow.
Attached Thumbnails
Click image for larger version

Name:	euro42.gif
Views:	28
Size:	12.8 KB
ID:	316106    
Reply With Quote
  #43927  
Old Sep 16, 2009 6:16pm
Member
 
Member Since Jan 2007
More than 10 Vouchers  639 Posts
Default

Quote:
Originally Posted by StoragePro View Post
Ugh - if Mike would slow down on the vids, it would be easier....

Mike - do you recall which one that was?

I'll look around again and fire off a note.

I thought it was "intro to pin bars"..
Reply With Quote
  #43930  
Old Sep 16, 2009 6:27pm
Member
 
Member Since Jan 2007
More than 10 Vouchers  639 Posts
Default

Quote:
Originally Posted by rustyjeff View Post
I thought it was "intro to pin bars"..

yep thats it...

edit... i mean "pin bar introduction"
Reply With Quote
  #44003  
Old Sep 17, 2009 9:16am
Member
 
Member Since Jan 2007
More than 10 Vouchers  639 Posts
Default

Quote:
Originally Posted by bundyraider View Post
Then the flight prices will be up too. lol

Damn cheap of late , eh?

I have an Aussie mate here who is going home for Christmas with his family of 4..
He keeps asking me when the US dollar is going to get stronger..
I said, at this rate its going to be on par by then. he is shitting himself..

We both came to the States in 2000... when the aud was @ about .48-.50..
getting shafted both ways is kind of annoying
Reply With Quote
  #44005  
Old Sep 17, 2009 9:53am
Member
 
Member Since Jan 2007
More than 10 Vouchers  639 Posts
Default

Quote:
Originally Posted by StoragePro View Post
At this rate your friend can buy California soon... and it won't be soon enough!

just waiting for the liquidation sale...
Reply With Quote
  #44007  
Old Sep 17, 2009 10:55am
Member
 
Member Since Jan 2007
More than 10 Vouchers  639 Posts
Default

Quote:
Originally Posted by StoragePro View Post
....
nice post SP
Reply With Quote
  #44015  
Old Sep 17, 2009 2:07pm
Member
 
Member Since Jan 2007
More than 10 Vouchers  639 Posts
Default

I tend to look at it like this..

If you are the type of person that allways needs to why?? how does this work? then you might not be comfortable trading until you have answered thes questions..

If you are a type of person that doesnt care.. dont need to know why, just that it works. then you will trust what you do regardless of why it does..

does this mean one is better than the other...? Well I guess that depends which one you are..
Reply With Quote
  #44041  
Old Sep 17, 2009 4:59pm
Member
 
Member Since Jan 2007
More than 10 Vouchers  639 Posts
Default

Quote:
Originally Posted by mbqb11 View Post
sunday at Rehab
then...

good luck .
Reply With Quote
  #44100  
Old Sep 18, 2009 9:51am
Member
 
Member Since Jan 2007
More than 10 Vouchers  639 Posts
Default

Quote:
Originally Posted by james16 View Post
nice nasir.

im smiling about my profit for sure. some of it in the bank already.

i like my sleep so full tp @ 1.o7. easy money
Reply With Quote
  #44102  
Old Sep 18, 2009 10:08am
Member
 
Member Since Jan 2007
More than 10 Vouchers  639 Posts
Default

Quote:
Originally Posted by benji533 View Post
This ended as a lose for me. Price stalled at the first trouble area and turned. By that time I have moved my stop a few pips above the round number and took a lose of 0.6R (1.2% of my account).
This is why I damn hate reversals. A round number + PPZ + huge divergence + space + great pin bar wasn't enough to make price turn down. Look what a sharp trend up. This trade only make my point about trading with the trend brighter.

Maybe if my stop was still on the top of the pin's high I would still be in this trade....but I won't take a full bar lose...

Ben..I didnt want to say anything when you posted this trade cause i knew this would happen..

Its done to me before as well so dont worry about it.. When this pair moves like it has been.. I stand aside.. dont get in the way..on moves like this I prefer a solid pa on the daily to stop the move or at least pause it..

I know 90 is a nice round number but have a look just above at 91-91.50. on the weekly.
Reply With Quote
  #44103  
Old Sep 18, 2009 10:11am
Member
 
Member Since Jan 2007
More than 10 Vouchers  639 Posts
Default

Quote:
Originally Posted by benji533 View Post
It worked for sure.

well done Ben..
this is another one of mikes cherry trades.. he has a video, I'm sure you have seen where the chart looks the same just on daily..
Reply With Quote
  #44178  
Old Sep 18, 2009 6:02pm
Member
 
Member Since Jan 2007
More than 10 Vouchers  639 Posts
Default

Quote:
Originally Posted by StoragePro View Post
Sounds like the fixin's for a trading plan to me....

hey hey hey... Ryan dont make too easy..

next thing Rac will be listing rules or something.....
Reply With Quote
  #44181  
Old Sep 18, 2009 6:15pm
Member
 
Member Since Jan 2007
More than 10 Vouchers  639 Posts
Default

Quote:
Originally Posted by benji533 View Post
I'll do my best



Yep...need to catch my dad and make him open an account on his name for me first...can be a bit annoying



LOL

Just do it.. Ben..
If you do nothing but repeat what you have been posting you will be well ahead.. thats how I started.. actually my first acct was $500..it went up, then down to almost zero then slowly & steadily up over a couple of years till there was 5k...

then after proving to myself I could be responsible with real money I funded a larger acct. I now have 2 family members who I trade for along side of my acct. as well.


I still have that first acct & it still is up & down... Its where I test ideas or refinements on my current strategies. But I always trade the same way, the same rules on my real acct/family..

to make money thats all you have to do.. find something you trust & repeat it.. ask Mike, James, Ryan, Bemac. anyone who has traded well (not just traded) for more than 10 years.. I bet thats what they do...
Reply With Quote
  #44244  
Old Sep 21, 2009 2:54am
Member
 
Member Since Jan 2007
More than 10 Vouchers  639 Posts
Default

Quote:
Originally Posted by mbqb11 View Post
Hey H

Glad you are enjoying the thread welcome.

The pin was too small for my liking(I am quite picky I am told). But we did have divergence, and then using our knowledge of support/resistance + a small bar the previous bars high(blue area), is our first trouble area and we basically have stalled there.

Here is a chart

Take care
MIke
c'mon Mikey.
Thats being soft.. its going straight back into support...
I didnt even see this pin.. & for me thats rare.. Its a shit pin.

Are you getting old????????
Reply With Quote
  #44245  
Old Sep 21, 2009 2:55am
Member
 
Member Since Jan 2007
More than 10 Vouchers  639 Posts
Default

Quote:
Originally Posted by rustyjeff View Post
c'mon Mikey.
Thats being soft.. its going straight back into support...
I didnt even see this pin.. & for me thats rare.. Its a shit pin.

Are you getting old????????

ok.. I lied...

I made coin off this pin.. but only to the first area....
Reply With Quote
  #44248  
Old Sep 21, 2009 3:53am
Member
 
Member Since Jan 2007
More than 10 Vouchers  639 Posts
Default

Quote:
Originally Posted by lacika View Post
Hello, Jeff!

Would You be so kind to tell Me what is QUICK double bottom on 5M for YOU?
I mean what is the minimum and maximum time (or bar numbers) You accept when You define one?
THX, NL

for me this was not a 5m. trade..

I set an order & went to sleep . I woke up & it was done.. simple....

I like my sleep & I dont like getting up to check orders.. so when I lay down I make sure I have a reasonable limit & a tight stop.. Thats it..

I might not make as good %r As other traders but I live my life & I dont loose. I travel all over the world & am happy to say that if it wasnt for what I do, Trading, I wouldn't be where I am.

I have 3 people that I can directly thank for my success...
Those people know who they are..J,M,M....

We all need to find our own way of making money in this game... & yes it is a game... only the serious , & sincere will find a way to there own enlightenment & become what they dreamed..

just my opion
Reply With Quote
  #44420  
Old Sep 23, 2009 11:31am
Member
 
Member Since Jan 2007
More than 10 Vouchers  639 Posts
Default

Quote:
Originally Posted by lacika View Post
Hi, Jeff!
And I did not mean this trade...Earlier a reply to Benji You mentioned quick double bottom on 5M, and I was curious what it means for You?
James, Mark, Mike?
Happy about Your Trading, NL
here is what I mean..
double tops/bottoms with divergence..
When I catch these at good locations they will often lead to a larger tf PA.
Attached Thumbnails
Click image for larger version

Name:	euro25.gif
Views:	39
Size:	17.0 KB
ID:	321692     Click image for larger version

Name:	euro29.gif
Views:	23
Size:	12.1 KB
ID:	321693     Click image for larger version

Name:	euro42.gif
Views:	20
Size:	12.8 KB
ID:	321695    
Reply With Quote
  #44421  
Old Sep 23, 2009 11:35am
Member
 
Member Since Jan 2007
More than 10 Vouchers  639 Posts
Default

And one from today.

gu.. lead to 1hr beob ... not the best but at fib retrace of previous move down.
Attached Thumbnails
Click image for larger version

Name:	gu30.gif
Views:	35
Size:	16.8 KB
ID:	321702     Click image for larger version

Name:	gu31.gif
Views:	25
Size:	15.0 KB
ID:	321704    
Reply With Quote
  #44524  
Old Sep 24, 2009 3:16pm
Member
 
Member Since Jan 2007
More than 10 Vouchers  639 Posts
Default

Quote:
Originally Posted by benji533 View Post


Why didn't any tell me?!?!??!?!?!
It was saving me all this blablabla with my father!

PS - Thank you benmen

no stopping you now Ben...

go get some...
Reply With Quote
  #44638  
Old Sep 25, 2009 6:05pm
Member
 
Member Since Jan 2007
More than 10 Vouchers  639 Posts
Default

Quote:
Originally Posted by benji533 View Post
Wanted to share my coolest trade today (I saved a pic just in time), EURUSD intraday
One like this once a week and I really don't need anything more.

Long term moves are very rare to be able to hold. These are only available when there ia a good breakout pattern, or a very sharp trending market. But most of the time the market is sideways (like james says all the time), and then reversal trades whith small targets are working great. But you still need your confluence. Some use MA's and fibs - I use PPZs, round numbers, divergence (and in some...

Spot on Ben..

Thats all we do.. j16 pa...

I'm sure you notice both of these took place at ........ yep round numbers..
the euro loves'em...
Attached Thumbnails
Click image for larger version

Name:	euro44.gif
Views:	71
Size:	16.3 KB
ID:	323479    
Reply With Quote
  #44724  
Old Sep 28, 2009 12:37am
Member
 
Member Since Jan 2007
More than 10 Vouchers  639 Posts
Default

Quote:
Originally Posted by raczekfx View Post
I have mercy..
No, it was (trigger) retest of area where equities broke lower (YM). Same = true for ej. GJ = different, long story
too bad b., lucky you're not my son.. (no millions for you, everything gone to charity)
.




good luck Ben..

good to see your being predictable Mark....
Reply With Quote
  #44732  
Old Sep 28, 2009 3:44am
Member
 
Member Since Jan 2007
More than 10 Vouchers  639 Posts
Default

Quote:
Originally Posted by smjones View Post
Hmm, That guy again. I think he needs to go. I don't have enough mojo either.

I doubt anyone does; as often as he posts. You might as well delete your link and wait for Twee so you don't advertise to more people the theft.
Scott,
Is there any real thing us poor forum readers can do..
or is this just a waste of our time & frustration...

sorry ..just asking ... I have no idea about computers.. just ask Mike.
Trying to learn something....
Reply With Quote
Reply

42 Traders Viewing This Thread (18 are members)
hijackxx, TraderJay101, Bluehills, mbqb11, Cyrus, Invisible, gjworley1952, unlv_tj, supermatt, joelcf, pipmyride, StoragePro, Rocket!, TC East, scarlet, darewood, Ebont74, jpa0827
Thread Tools Search this Thread
Search this Thread:

Advanced Search


Similar Threads
Thread Thread Starter Forum Replies Last Post
Ring my bell chart thread forex3e Trading Journals 43 Jun 20, 2009 8:38am
rock my chair chart thread forex3e Trading Journals 48 Oct 30, 2007 11:21pm