I was burned trading the 1 second chart, I would never advise anyone to trade it, I admire Ryan for his persistance and determination to succeed, but also wonder if time was wasted when the longer TF would have been so much easier and just as ...

james16 Chart Thread

Yeah for fun of course, I would lose my shirt otherwise. Anyway time to watch the Champions League Final with a beer, Come on Man Utd.

james16 Chart Thread

lol I woulndt mind being in Vegas staring at the poker table and driking beer all day though.

james16 Chart Thread

But as is said the lower the time frame the less significant PA bars become surley there is a point where they are meaningless, I would say anything under 5 mins is at that point, and anything under 1 hour you need to be picking great bars.

james16 Chart Thread

I bow to your experience but as you say you need to be in front of the screen for long hours, over the long term I think it would be difficult to be on the ball all the time. Why do it, as you say you can make 1% on anytime frame.

james16 Chart Thread

Im not sure I agree with you Mike, your stop is going to be much smaller and spread becomes a much bigger part of your trade, a simple 20 pip spike and your out.

james16 Chart Thread

Hey nfx, The area you are taking about is @1.3750? I see that too if it moves below 1.3880 then I see it dropping there , and if it holds then its long time!!! As you say, Trendline, fib and round number!.

Jacko's Forex House of Pleasure and Pain

Trading on 3 min, no wonder it took you 5 years to break even, anything below 1 hour is gambling you may get lucky for a while but over the long term you wont be profitable. Trading is easy, people make it hard. I understand the need to advise ...

james16 Chart Thread

Does Jacko still post about where he thinks price is headed long term? like he did at the start of the thread?

Jacko's Forex House of Pleasure and Pain

Looks like its on a retrace, theres a 50% fib just below 1.3900 from the last swing low on 4hr, might be a place to get in, or wait for a big discount to 1.3750 50 fib? guess Price action will give us a clue.

Jacko's Forex House of Pleasure and Pain

You sure like your emoticons chaos! Adds some nice color to the posts

james16 Chart Thread

I agree, the 1.4050 seems like very strong resistance point and I think another retrace to at least 1.3900, hopefully down to the highest 50 fib (haven't got charts in front of me). If it does break 1.4050 then the next target is the weekly 50% fib ...

Jacko's Forex House of Pleasure and Pain

I see a lot of people just playing PA setups because they see them or they are at swing high lows. PA is simply a tool like, Fib lines, divergence trend lines to help you read a chart. Don't give pin bars more significance than they deserve. You can ...

james16 Chart Thread

You will never become great if you want to be someone else.

james16 Chart Thread

Yeah if you spend a few days studying a pair and get to know all the important levels historic and recent, then PA at one of these levels gives you confidence in that PA. If you are with the trend and trail your stop you have increased you chances ...

james16 Chart Thread

Yes, being aware of the bigger trend and only trading on it will result in bigger profits, I am now only trading with the major trend, by looking at weekly/daily trend lines. You don't want to be trading into a 100 ton train. I have been trying to ...

james16 Chart Thread

Hi Alter, It must be based on something like that, ive posted a chart with the ATR and where it was in 2007 when it was a 60 pip stop loss and now its getting back to those levels so maybe it can be reduced to 75?

Jacko's Forex House of Pleasure and Pain

Anyone checked out netdania new web charting? I tried to before but it was missing a lot of functionality but the new release is great. You can use mouse wheel to zoom in and out, change color of chart and bars etc. Save your workspace. Might move ...

james16 Chart Thread

The reason is its a round number therefore it will usually be enough to cause some kind of price action, not necessarily a reversal.

james16 Chart Thread

Looking at the weekly/daily recently bearish trend lines have been broken and used as support. I also see the double bottom at @1.2500, to me this suggest we are on the move back up to maybe 1.5000? i.e. we are on the North Train now? Does this ...

Jacko's Forex House of Pleasure and Pain