On AUD JPY daily chart do you think it's ok to blend the previous 5 bars with the other previous 5 bars? There's something I started to do in order to find more opportunities to trade. When I see a breakout I start to look to blendle previous bars ...

james16 Chart Thread

Definitely Kelly criterion is not for everyone. If you're risk aversed probably you should not use it. I would never use the % from the formula, only fractions of it because it is also too agressive for me. With kelly criterion your risk of losing ...

james16 Chart Thread

Hi Mike, The reason I was thinking about R:R and win rates is because if a trader plays a method for a lot of trades (or is backtesting his method for a lot of trades) he has a win rate and an average RR ratio. He can use these numbers to increase ...

james16 Chart Thread

Probability to win a trade (winning means price has reached your take profit which can be a bigger or smaller fraction of your stop loss) has many things to do with risk reward ratio. If you want a huge RR, you won't win very often. Maybe you will ...

james16 Chart Thread

If this would have been true then on any trade you should aim for a RR bigger than 1:1 since for 50% probability 1:1 is the break even point. This is one of the biggest myths in forex trading, that you need at least 2:1 RR to be profitable. Also you ...

james16 Chart Thread

Do you risk fixed amounts ($300 every time) or 3% from your current account? If you risk fixed amounts you can open 3 trades in the same time (assuming they're not correlated). It doesn't matter mathematically if you lose 3 trades in a day or you ...

james16 Chart Thread

I think only if they are correlated. Anybody uses Kelly criterion? W - L/RR For instance you have 80% probability to win and 1:1 RR. You can risk with Kelly criterion 80%-20% = 60%. Of course this may be too agressive but I like to use fractions of ...

james16 Chart Thread

I don't like to use EMAs because there are not the same at all time frames. A PPZ or a trend line is the same on all time frames but 365 EMA on 4hr is not the same like 365 EMA on daily. Also I never undestood why a specific EMA is more important ...

james16 Chart Thread

Hi Mike. If we blendle the bar from Monday with previous 2 days there is a BUOB. Can we use this BUOB as a preemptive bar for a breakout of that blue TL from silver? And another question, if we watch 1 hr chart or 4hr chart should we use the ...

james16 Chart Thread

I have a question about EMAs. I see that many use 365 ema and 150 ema but I don't understand if they use these emas on all time frames or if they use different emas for different time frames. 365 ema on the weekly chart is not the same with 365 ema ...

james16 Chart Thread

Mike, when you shorted that H&S from 4hr did you take the trade even if no PA has formed or did you take it because if you blend the breakout bar with the other 2 bars before it there is a BEOB on 12hr chart?

james16 Chart Thread

GBPUSD it was a SFP. I traded it in the opposite direction. So I guess that's why the BEOB failed (however it didn't triggered). On EUR USD it didn't triggered. I didn't like EUR GBP pin but what I find interesting is that it triggered during Asia ...

james16 Chart Thread

Hi Mike Wouldn't have been better if the neckline of the H&S would have been an horizontal line or a descending trend line instead of an ascending trend line? There are some major swing lows on the left that price should broke in order to move ...

james16 Chart Thread

Hi ghous Can you tell me how do you put your stop loss? You look at the low and put it a little lower? The stop loss using ATR is quite big and I would like to use your method of putting stop loss.

HCR-LCS + SFP Research thread

How did you put the stop loss on GBP USD? I thought we use ATR(20) for the stop loss so it should have been lower ? ATR(20) is 133 on my broker. From what I understand the stop loss should be at 133 pips lower than the low of SFP and if price closes ...

HCR-LCS + SFP Research thread

There's a pin on GBP AUD daily rejecting that strong trend line but it's an ugly one. Very small, didn't close above BRN, and formed on Friday.

james16 Chart Thread

All of them were not very good. I usually put my stop loss at the other side of the bar. I didn't have the opportunity to trail my stop to break even or a small loss because when Europe session started price immediately reversed against me and I ...

james16 Chart Thread

Thanks for the answer. I've put this question because all my daily trades that I have lost because the pending orders opened and retraced immediately without giving me the possibility to at least move to break even where opened either during Asia ...

james16 Chart Thread

Nobody knows? I use a broker that closes at 5pm est and I open the pending orders for daily trades at 5pm est. Wouldn't it be better to open them when Europe session starts because Asia session has low liquidity?

james16 Chart Thread

When you want to play a trade from a daily chart with a pending order at the break of the bar when it's good to put the pending order?After the daily bar closes at the start of Asia session or it's better to wait until Europe session starts in order ...

james16 Chart Thread