If you think thats scary, you should see his refrigerator! LOL...
Never say never.
Where can I learn more about Price Action like those in James16 charts? 9 replies
DislikedHey Mike,
If you think thats scary, you should see his refrigerator! LOL...Ignored
DislikedMost definitely a good setup, that CJ PB =)
Shame you jumped ship just before the real fun started
Wanted to post an update to the USDJPY chart I posted a while back..
The retrace back to 114.xx was a bit tricky, but nevertheless I feel with a bit of caution and management it woulda done alright..
I find it helps to decide on a direction and stick with that..eliminates a lot of whiplash that way =)
Keeping in mind this UJ example chart is simply ONLY the setups as if there were no such thing as s/r etc...just to illustrate what Jim once wrote - even the setups alone can be an eye opener.
P.S. Just seeing that I skipped a TBH/IB before that windup area. Probably because I don't trade those "top of the move" entries really, I find them far too dangerous / whiplashy most of the time. I want to be in BEFORE the real move starts, not after it's already gone a few hundred pips..Ignored
DislikedHi All,
I still sit here day in and day out reading all of the posts in this thread and one glaring point keeps popping its head up. Why is everyone so adament about picking "targets" and exiting their trades at this predisposed point. If there is one thing we all should have learned by now, the market will do whatever is necessary in order to confuse the majority. I personally think it a might bit arrogant to think we can just sit back and pick a point on a chart and say , thats it, that is the destination. I include myself in this category to some degree. I have been guilty of picking a target in the past, however, when I simply leave the trade alone until the market tells me that the trend is over I will most always end up with more pips that I otherwise would have. I guess Ol' Jesse was right, you make more money by sitting on your hands......Ignored
DislikedThis is a great group and I really appreciate all the posts you guys (and ladies) make.
Hi Seeking - you're appreciated especially, long time lurker here and thought I'd post a pic.Ignored
DislikedHi All,
I still sit here day in and day out reading all of the posts in this thread and one glaring point keeps popping its head up. Why is everyone so adament about picking "targets" and exiting their trades at this predisposed point. If there is one thing we all should have learned by now, the market will do whatever is necessary in order to confuse the majority. I personally think it a might bit arrogant to think we can just sit back and pick a point on a chart and say , thats it, that is the destination.Ignored
QuoteDislikedhowever, when I simply leave the trade alone until the market tells me that the trend is over I will most always end up with more pips that I otherwise would have.
DislikedFirst off let me say the worst thing you can do to your trading is use trailing stops. Yes, there are some fellas with a big following that advocate and love them(because it requires 0 thought), but I think that a fixed size trailing stop is rubbish. ...
Ignored
Disliked
Thanks fuzzle...fact is, if what I posted over the months/years(...aaaand now I feel old again) has helped anyone become a better trade than they were or shown them what's possible, then it's already all worth it(all the effort that goes into the charting and posting I mean).
But I have to admit, often it feels I really do post most of my posts in order to educate myself(I've often written that I am mostly addressing myself with what I write)..sometimes feels like unless I keep telling and showing me how it's done I might forget..so again, I can only recommend to everyone to keep a journal, be it for recording your trades in full detail or simply to arrange your thoughts, ideas and setups..
I guess it also means that there's got to be some sense in it all, since I couldn't recognize and address a lot of issues and problems if they hadn't been inside myself as well..Ignored
DislikedSome reason to long USD-JPY (of course will wait until price broke upper PB)
1. PB with long nose 4H propably on daily chart too.
2. Near Support on weekly chart
3. Previous trend was down.
Any comments?Ignored
Dislikedi pay attention whenever you post here... i even keep most of your posted charts :Ignored
DislikedSince stocks and the JPY are very correlated, here was the early warning..
Also would have made a great short with low risk at the doji close for the really aggressive trader, more conservative would have waited for that IB.Ignored
DislikedHope the picture is posted as well. If not I am quoting post 3595. How do you play these inside bars. The thing is, after these small IB there often come BUOB or BEOB that fake you out very often. Like in this example for instance if you get in long on the break you would have been faked out by just a few pips. Or do you enter within a distance of x pips or would you just enter this bar on the short side.
Happy trading,
ChrisIgnored
DislikedI tend to trail with meaningful points along the way and it works very well for meIgnored
DislikedI am in complete agreement with the automated trailing being a load of
Hooey....The we are in agreement after all...Ignored