If you took it get to breakeven asap, then worst case you breakeven, best case you picked the bottom and make a killing!

james16 Chart Thread

You are going against a 2 month trend and with GM going bankrupt not good for the dollar.

james16 Chart Thread

You are welcome, no trades for me, most pairs are at the bottom of their trend channel, I want some pullbacks before I trade.

james16 Chart Thread

What happened to the thread?, the thread is full of excellent advice, it's a pity if its dead?

The System (Irony included)

Welcome Lars, Theres a pin bar developing on Euro also, for me though trying to pick a bottom is risky and will result in smelly fingers lol.

james16 Chart Thread

Check above Ive attached it to a post.

james16 Chart Thread

Ok im putting the word doc up as someone has PM'ed me for it, hope its ok, its candlesticks white background, black outlines and black body for bearsish ones. Hope its useful to someone.

james16 Chart Thread

Thanks Ryan, I hear you, you need to accept making a loss, realise you are just going for probabilies and some sort of edge, that will make you a profit over a number of trades. It all ties in with mm, you need to be able to survive a string of ...

james16 Chart Thread

Yeah, if you can profit consistently you can compound after each trade. Over 5-10 years it can yield a good bank roll. I plan to add to my account if I am profitable each year, thereby accelerating the compounding process.

james16 Chart Thread

I agree with the profits to expect, I would think the first worry is not how much I can make per year, rather, can I make a profit at all? Get there first, and consistently then look at improving your ROI. The guys who are getting 500% a year have ...

james16 Chart Thread

Thanks Pipmutt, I will test it based on the rules, however I am against trying to optimise the system to historic results, If it doenst work then Ill drop it.

Catching the morning train

Ok thanks MPP.

Catching the morning train

Only reverse once.

Catching the morning train

Hi senda, Its based on 30min chart not 1hr, and I would not change it, otherwise its a different system.

Catching the morning train

If you backtest this it has to be done over the long term, not a few months. Also how do you know the wins in the rest of the year wont make up the losses? Do you know whats price is going to do in the next 6 months or so? I dont suggest 5% risk was ...

Catching the morning train

The rules of this method are stated in the first post. DO NOT try and optimise this system with trailing stops or indicators. Also you are going to take some losses if you cant handle that I suggest you forget trading.

Catching the morning train

Hi billbss, You make some good points, and one further I was thinking about is that breakouts come quite often from tight tanging periods, so I suppose you have to just play this everyday. What you are trying to catch here is a small first 30 min ...

Catching the morning train

url The above post has an indicator to draw vertical lines at session open and close, and the inputs have a GMT offset value, just set that to you brokers value and it will draw the lines for you.

Catching the morning train

If you look through the chart you will find days like this where it will reverse twice on you, you are going to have to be able to handle a loss, but catching a biggie will more than make up for those. Use discretion i.e. stay-out in a tight ranging ...

Catching the morning train

Regarding the martingale thing, you are basically closing the losing trade trade then opening the new one with the same lot size as first, so if you had 1 lot buy in the losing trade then by selling 2 lots you close the 1 lot bad and open 1 lot ...

Catching the morning train