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- 105 Results (53 Replies, 52 Comments)
- Gregory_ replied Dec 9, 2015
Hello! It depends. I risk anywhere from 0.25% to 3% (except on gap trades, where I can risk more). It is kind of a gut feel on the situation. I knew that box could have caused problems. Therefore, I almost went down to 1% risk on this one. However, ...
james16 Chart Thread
- Gregory_ replied Dec 9, 2015
Here is a loss I just took on EURAUD H1. This was a BEOB at the edge of the trend line. Not all patterns work out, that is for sure. However, I still thought this one was worth the risk. Have to know when to fold. This is why it was immensely ...
james16 Chart Thread
- Gregory_ replied Dec 8, 2015
I feel compelled to mention something. The James16 group literally changed my life. 1 year ago, I was working my 8-5 job, really frustrated with my existence. There is something about modern corporate life that drives me up the wall. I don't know if ...
New james16 website pre-launch countdown.
- Gregory_ replied Dec 8, 2015
I can't wait to get to options.
New james16 website pre-launch countdown.Thanks for everything you've done, Jim!!!
Looking forward to the launch.
- Gregory_ replied Dec 8, 2015
When I realized this, it blew my mind due to the similarity with price action. Price action also works on any time frame and any marketable instrument (currencies/stocks/etc.). I am definitely convinced of that, at this point. Finding concepts that ...
james16 Chart Thread
- Gregory_ replied Dec 8, 2015
I want to clarify something. For me, now, patterns are not about the time frame. I believe they work, period. The time frame does not matter. This is particularly fascinating to me because when I joined the James16 website in 2013, I was convinced ...
james16 Chart Thread
- Gregory_ replied Dec 8, 2015
One thing I want to emphasize is the difference that spreads can make, in a situation like this. Right now, my demo feed has a 10 pip spread on this pair. However, my live feed currently has a 1 pip spread. That difference really matters. Of course, ...
james16 Chart Thread
- Gregory_ replied Dec 8, 2015
Sure, mozyr. Here are the answers to the best of my ability: Where did you place your SL? Initially, my stop was under the BUOB. The trade opened on the 4BH break, not initially on the BUOB. I don't think I would have traded it as a BUOB break, ...
james16 Chart Thread
- Gregory_ commented Dec 8, 2015
Typically, the price will go up, i.e. XXX will strengthen against YYY, due to the lower interest rate on YYY.
Fed's Lockhart says the market is well prepared for rate lift off - Livesquawk
- Gregory_ replied Dec 8, 2015
Just exited this M30 BUOB play from the edge of the pattern. There was also a 4BH of sorts above the edge. Full trade is documented from start-to-finish in my journal on the J16 website. It might go higher, but I am happy with the management. image
james16 Chart Thread
- Gregory_ replied Dec 7, 2015
Yes, I definitely agree in localizing support/resistance to an RN, if possible. I do not do it very often though. I generally only look at BRNs, importantly. However, RNs are definitely something I watch in every situation. They can be ...
- Gregory_ replied Dec 7, 2015
Perhaps, what Bill is saying is that when a swing high or low is formed, it is proof of support/resistance. I can agree with that. Otherwise, price would not be rejected in the opposite direction. However, the more important question I ask myself ...
james16 Chart Thread
- Gregory_ replied Dec 7, 2015
I want to clarify something. I believe Bones was trying to make a point. He was indicating that the pin bar did cross a W1 PPZ. Therefore, that swing high was influenced by a PPZ and other support/resistance. Therefore, the question posted earlier ...
james16 Chart Thread
- Gregory_ replied Dec 7, 2015
Hello.
james16 Chart ThreadNo, every swing is different. However, some swing highs/lows are predicted by PA. Those, I can latch onto and trade, if the situation is ripe. I more or less ignore most of the other swings, unless there is a nice touch trade.
- Gregory_ replied Dec 7, 2015
Hey, Bones! Yes, I see the W1 PPZ from 4 years ago. However, I did not consider it when I took the trade.
james16 Chart ThreadIt is fairly minor, and for me, it was not relevant to my trade. Everyone is different, of course. Generally, I only trade stocks with PA ...
- Gregory_ replied Dec 6, 2015
Hi, Bill! I would say that I trade A+ PA pretty much the same way on any chart. If I saw that pin bar setup I posted on a futures, currency, stock, etc., I would trade it the same way. That is the beauty about PA setups. However, stocks are ...
james16 Chart Thread
- Gregory_ replied Dec 6, 2015
I guess, my perspective is that, through experience, I learn to determine what types of scenarios are worth the risk. For instance, 3% of my account is worth a certain amount of USD, and as an American, I know that I can go out and buy stuff with ...
james16 Chart Thread
- Gregory_ replied Dec 6, 2015
I would say that it can be different. To explain, I will post a chart. Now, this is not a currency chart. I know this is ForEx Factory, but I like to trade currencies and stocks. Here is one of the stocks I traded earlier in the year. As you can ...
james16 Chart Thread
- Gregory_ replied Dec 4, 2015
This is a thought provoking statement. I agree that swing highs and lows are easy to identify after the fact, and I remember struggling with this as well. The best way I can explain it is a PA (price action) bar can predict price movement, in the ...
james16 Chart Thread
- Gregory_ replied Dec 4, 2015
Hey, Bill.
james16 Chart ThreadYou are right about the feed. That BEOB I posted was hypothetical. (I drew it onto the chart.) I was trying to contrast a large BEOB that I might trade versus the current small one on the real chart. Also, your analysis sounds decent ...