Agreed! I jumped on this one. Scott

james16 Chart Thread

I appreciate the input. I personally like my trades to have initial breathing room, just like your March '06 example does. I am not talking about hundreds of pips of room though either... enough room so if a strong reaction does occur, I can get out ...

james16 Chart Thread

I signed up for a demo account with a broker that carries the pair. It does look like a great setup. Scott

james16 Chart Thread

NZD/USD Weekly — Attached is a weekly chart of NZD/USD which has a beautiful looking PB off of a long term trend line. I wanted to share this chart as this is an example of a great looking PB I plan on not trading. The reason I would not trade ...

james16 Chart Thread

I personally would skip NZD/JPY as it looks like the PB on your chart is completely under the PPZ. AUD/CHF looks much more promising. My broker does not carry either pair, so I am going by your charts. Scott

james16 Chart Thread

I passed on this one myself. I did not see any convincing confluence. I saw the fib but that's it. I try to take only the best setups. I place FAR fewer trades than 12 months ago but my account seems to like it! Being EXTREMELY picky is key. Scott

james16 Chart Thread

Sounds like we have the same plan. I moved my SL closer but was not real convinced either. If it does make it through, plenty of room below. Scott

james16 Chart Thread

Awesome, Ghous! I entered short on the break of the weekly IB. Looks like we may have hit a wall at 204 though... we'll see. Scott

james16 Chart Thread

Sunday bars should be ignored. Scott

james16 Chart Thread

Good advice. I skipped this setup as I felt the location was not the greatest. I posted a chart which is now on a previous page. I do not feel comfortable shorting into support. Scott

james16 Chart Thread

Kim, Chart attached. Entry was just below the IB and SL is above the IB. Notice the nice confluence? The IB alone was not enough for me to pull the trigger. If you are new to PA, I recommend sticking to the Daily, weekly and monthly timeframes only. ...

james16 Chart Thread

Kim, The Daily PB is not a PB yet. Always wait until the close of the bar or candle. The 4 hr. PB is a A+ PB in my opinion. I would have taken it if I traded that timeframe. I would look to take profit around 212.00 (pending PA in that area). I am ...

james16 Chart Thread

Another perspective on EUR/AUD — I would like to share what I see on EUR/AUD. I have attached my chart. Even though my chart shows a nice BEOB, I do not plan on placing a short order. Price broke through the 1.6850 PPZ which was a "A" grade ...

james16 Chart Thread

I saw this PB as well, but I am going to skip this one as I do not see solid support there (no confluence). If we can get a setup around 1.5350, that would be ideal. Scott

james16 Chart Thread

Seeking, What you say is 100% true. I lost money (demo) for months using PA. After going through my trades, I realized that I took the right bar setups, however, the location was terrible on the majority of them ended up as losers. I have been a J16 ...

james16 Chart Thread

I saw this as well but will pass. Look to the immediate left... sideways market. I would've taken this BUOB only if the bar broke out of the range. Scott

james16 Chart Thread

Sebastien, I plan on taking EUR/CHF but not USD/CHF myself. The weekly PB has been broken to the downside. Also, USD/CHF would have to break through, monthly and weekly pivot points and a trendline. The only bad thing regarding EUR/CHF is recent ...

james16 Chart Thread

I never used Mouteki but why not follow the rules set by the author? The best thing a trader can do is keep it simple. Treat losses as a business expense and accept them. Many traders tweak and tweak a system which makes the technique less effective ...

post your losses using mouteki

Call me the devil's advocate, however, I do not believe Oanda's site 100%. The fact is Oanda is the initial counter party to every trade made by a client, even if it is for a fraction of a second before being hedged. This means they can choose to ...

If you make money, does Oanda make money?

I had the opposite experience as some traders in this thread. A while back I used a demo account I used to use and tried my hand at short term trades, 5-10 pips per trade. After one month, I gave up. At least I now know that I should stick with ...

Now I know why 95% of traders are on losing side