Is it possible for you to switch to a broker with a smaller lot size? I would definitely trade the 4 hour timeframe on a demo account. After you have completed the minimum requirements on the 4 hour timeframe, start trading the 4 hour timeframe live ...

james16 Chart Thread

It looks like you are looking for a trade, any trade. I've been there, and we all go through it. What my chart shows is... you must be patient. Wait for good PA setups at good locations. As you can see from my chart, I could end up waiting quite a ...

james16 Chart Thread

I would never trade that PB. The location is OK but not great. The nose barely extends past the low of the previous bar. Also, the market has been sideways with a bearish bias since mid October of last year. If I did trade it, I would expect price ...

james16 Chart Thread

It's all about location, location and uhm location. I would have no problem placing a buy stop order if the low was at .6510 or so as the support is a zone. 50 pips away is too far away though. Good analysis. Scott

james16 Chart Thread

Hang in there. When I started, I stayed on demo for nine months. I went live and traded a measly $100. I stayed around break-even for roughly a year and a half after that. The light bulb finally went on. It is all about support and resistance ...

james16 Chart Thread

The AUD/CAD BUOB got no reaction from me. The market is in a very tight sideways mood so I scratched that one off the list rather quickly. First trouble area is 0.9300 - 0.9315. Scott

james16 Chart Thread

GBP/USD Daily — The IB on GBP/USD daily caught my eye. Price is at previous low with divergence on MACD. I have not decided if I will place a pending long order or not. I marked the trouble areas. If I do place an order, my entry will NOT be ...

james16 Chart Thread

The PB was not strong enough on my feed. I saw it more as a "not sure where to go next" bar. Also, the first resistance I see is 1.07. Scott

james16 Chart Thread

The BUOB was at good support. The issue was that price had no room to move easily after the break. If price had 50+ pips to move, I would have placed a buy stop order. Good to hear you got your SL at BE. Looks like price reversed at the 1.0530 area ...

james16 Chart Thread

Excellent post! I have not ventured into touch trading yet but that is due to lack of time and waiting for PA setups has worked for four years and do not want to rock the boat. Scott

james16 Chart Thread

Nice looking PA setup but I decided to skip it due to the location. This market is currently sideways and the first resistance is the 1.0530 area. To me the risk of price reversing at the 1.0530 area is too great for me to place a buy stop order. ...

james16 Chart Thread

I am not Mike, but I zoom out on charts to view support and resistance levels. By zooming out, you see the bigger picture. I look quite a ways back and not just to the immediate left. Scott

james16 Chart Thread

Just wanted to add to what Mike said.... I suggest only marking very defined PPZs. A single price flip is not enough. Look for areas that have at least a few flips (well respected areas). Scott

james16 Chart Thread

I have an EA that manages my trades for me but same effect. I do take PA setups that would make others cringe, but do not take every setup that appears. I may not be picky but my trading still evolves around support and resistance. I have been ...

james16 Chart Thread

Very true. I prefer sideways markets.

james16 Chart Thread

My account is not that large yet (4 digits). All of my analysis is done on daily/weekly. Although, I did take one 15 min. trade this month but that was based on what I saw on the daily timeframe. I believe James refers to what I do as day trading ...

james16 Chart Thread

In my case, more is more but what works for person A may not work for person B. Perhaps my style works for me because I have little patience? LOL Scott

james16 Chart Thread

Your post brought back memories. I was a breakeven trader for my first 18 months or so. I would make some $$$ and then give it back. I finally turned the corner when I found what works best for me and stuck with it. I rarely post here as I am a ...

james16 Chart Thread

Hi, I run Windows 7 using Parallels Desktop 5. It works great. Scott

james16 Chart Thread

Recently received a 27" iMac with a 2560 X 1440 resolution. I previously was using a 15.4" monitor and the higher resolution definitely makes a big difference. I may add a second monitor in the future if funds permit. Scott

james16 Chart Thread