That's a nice setup. I'd set my PT for 5045.

james16 Chart Thread

Nice trade. But every time I put in a trade like that against prevailing support, it fails. I'd like to hear James' view on that trade. I wouldn't have taken it because the pin was dead into support.

james16 Chart Thread

I have found that that line of thinking will get a person in trouble. When you trade smaller timeframes, you set your SLs and TPs according to that timeframe. You would've done well on that BUOB tonight...

james16 Chart Thread

Gbp/jpy 1h — Here's a trade you DON'T take... valid setup, but into support. Wait for the good ones folks... like James says -- rifle shots, not shotgun shots...

james16 Chart Thread

Gbp/chf 1h — One of my favorite trades... BUOB on 1H at support...

james16 Chart Thread

Hey, don't feel bad. In my experience, I've found you're better off playing BEOB's when they are at or lower than the low... So you're statement is actually valid. There's no reason why you couldn't trade it that way. You'd just be considered a more ...

james16 Chart Thread

According to james, "BEOB: Bearish outside bar - this is a bar where the low is lower than the previous bars low and higher than the previous bars high. Preferably the close will be in the bottom third to quarter of the bar. The lower the better." ...

james16 Chart Thread

One could say it's a failed BEOB. These failures happen a lot unless you're at extremes.

james16 Chart Thread

Or maybe because everyone else is using it too?

S & R Cracked

Ok, I see what you're saying. I like that idea of hedging at key points (say minor resistance / support) on your way to your target. I wasn't trying to argue. I am not a hedge trader, and I'm glad to see you giving some examples. That helps me ...

Steviet's Live Trades!

I am not a hedge trader. I will admit that. So with that said, my problem with this line of thinking is two-fold: a) The first thing a successful trader will tell you is that you have no idea that the market is going to come back. The mantra of ...

Steviet's Live Trades!

Welp. I'd have to say this is probably one of the best posts I've seen here on this forum. Very refreshing and I couldn't agree more.

Steviet's Live Trades!

Great posting everyone. Last three posts were dead one. Nice analysis.

james16 Chart Thread

there are quite a few that have DBHLC and BEOB today. I have limit sells at their respective .382's...

james16 Chart Thread

That may be a nice PB, but your reward to risk is horrible. I saw the same thing and I don't take these trades. It's probably right around .3 : 1... The trendline and horizontal line is the zone where it might stall (target).

james16 Chart Thread

Uhmm... what's your point? I never said that retail traders move the market. I can assure you, I've been trading long enough to understand market dynamics. Secondly, you don't know what the big boys use to trade. A LOT use PA. I know of at least one ...

james16 Chart Thread

I couldn't agree more. Which is why I'm of the opinion that Fibs are nothing more than self-fulfilling prophecies with a cool "history lesson" attached to them.

james16 Chart Thread

Exactly hilmy. It's easy to call the trend when you're sitting in the nosebleed section. But the VIP seats come with a price -- i.e. never knowing when the trend is ending. WHTenn, when that major swing happened, would you have stuck with it? You ...

EUR/CHF for past 12 months

Heh heh... sounds like everyone is leaving over the exact same things I left a year ago over... Tradestation, aka Omega, has had more than a decade to do good portfolio backtesting. After all this time, they STILL haven't done it. Try Neoticker. You ...

Question Concerning Tradestation

Oanda's GBPJPY spread has NEVER been 4 or 5 pips. I've never seen it. It's 8 during off hours, and 6-6.5 during peak...

Making a synthetic Gbp/Jpy order