Home
Search Forums
Keywords:
Search Titles Only
User Name:
Exact Match
Show Results As:
Advanced Options
Reply
 
Thread Tools Search this Thread
  #49115  
Old Dec 3, 2009 5:43am
ghous's Avatar
<<--(-$-)-->>
 
Member Since Jan 2008
Default

Quote:
Originally Posted by nasir.khan View Post
TL breakout + retrace + PB
Beautiful!

Nice to see you doing well bro.
__________________
- "It is dead simple folks." <--> James16
Reply With Quote
  #49118  
Old Dec 3, 2009 6:18am
ghous's Avatar
<<--(-$-)-->>
 
Member Since Jan 2008
Default

Quote:
Originally Posted by nasir.khan View Post
Thanks man.

Btw waiting for your white charts with aqua boxes.
I might consider a shift back to the black background,

White makes me dizzy if I stare too long at my screen...

Bet Jarroo's got some load on his nose too...
__________________
- "It is dead simple folks." <--> James16

Last edited by ghous, Dec 3, 2009 6:30am
Reply With Quote
  #49115  
Old Dec 3, 2009 5:43am
ghous's Avatar
<<--(-$-)-->>
 
Member Since Jan 2008
Default

Quote:
Originally Posted by nasir.khan View Post
TL breakout + retrace + PB
Beautiful!

Nice to see you doing well bro.
__________________
- "It is dead simple folks." <--> James16
Reply With Quote
  #49118  
Old Dec 3, 2009 6:18am
ghous's Avatar
<<--(-$-)-->>
 
Member Since Jan 2008
Default

Quote:
Originally Posted by nasir.khan View Post
Thanks man.

Btw waiting for your white charts with aqua boxes.
I might consider a shift back to the black background,

White makes me dizzy if I stare too long at my screen...

Bet Jarroo's got some load on his nose too...
__________________
- "It is dead simple folks." <--> James16

Last edited by ghous, Dec 3, 2009 6:30am
Reply With Quote
  #49272  
Old Dec 5, 2009 2:08am
ghous's Avatar
<<--(-$-)-->>
 
Member Since Jan 2008
Default

Quote:
Originally Posted by marcelnyo View Post
Can't Help not to brag about this one, Bear sentiments on the metals at PPZ... Gold 10000 points after important PPZs on 1030,1130, and now 1230 area.

Silver is also bouncing on 19.50 on those who love these shinies
This is a counter trend trade so I've moved stop to B/E after it reaches 50 Fib Ret of 1180, it might lead to a bigger move so I've put some on the table just for fun, I've got enough profits from this to feed myself for a month, and this is only my 2nd trade in 2 months, the first one was GBPCHF, was stopped for a small profit yesterday....
You've been out of the action for quite some time Marcel, good to see you back with a BANG!

Wasn't the best of pins or locations but I am glad it worked out for you,

Cheers,
Ghous.
__________________
- "It is dead simple folks." <--> James16
Reply With Quote
  #49272  
Old Dec 5, 2009 2:08am
ghous's Avatar
<<--(-$-)-->>
 
Member Since Jan 2008
Default

Quote:
Originally Posted by marcelnyo View Post
Can't Help not to brag about this one, Bear sentiments on the metals at PPZ... Gold 10000 points after important PPZs on 1030,1130, and now 1230 area.

Silver is also bouncing on 19.50 on those who love these shinies
This is a counter trend trade so I've moved stop to B/E after it reaches 50 Fib Ret of 1180, it might lead to a bigger move so I've put some on the table just for fun, I've got enough profits from this to feed myself for a month, and this is only my 2nd trade in 2 months, the first one was GBPCHF, was stopped for a small profit yesterday....
You've been out of the action for quite some time Marcel, good to see you back with a BANG!

Wasn't the best of pins or locations but I am glad it worked out for you,

Cheers,
Ghous.
__________________
- "It is dead simple folks." <--> James16
Reply With Quote
  #49323  
Old Dec 7, 2009 9:16am
ghous's Avatar
<<--(-$-)-->>
 
Member Since Jan 2008
Default

Quote:
Originally Posted by mattfx View Post
A Christmas Poem for J16 Traders
As the year is drawing to a close, having started the year wishing to be freed from our bosses
It so happened that we needed a mentor to show us the way, to show us the profits and to respect the losses

Yet as surely as Christmas arrives, working hard to make dreams come true,
While the experienced traders look on and say, it is all up to you

So let?s celebrate J16?s thread
And wish him all the best
For as surely as this thread has survived, being something that could not be contrived

We have arrived...
Awesome Matt!

Thankyou for the great gift to this family.

g.
__________________
- "It is dead simple folks." <--> James16
Reply With Quote
  #49326  
Old Dec 7, 2009 10:10am
ghous's Avatar
<<--(-$-)-->>
 
Member Since Jan 2008
Default

Quote:
Originally Posted by cityman View Post
Hi
I am new to FF and have been “trying to trade” forex for nearly a year. I am going through the journey most forex traders go through. I don’t have to explain to you guys about “looking for quick money”, searching for the Holy Grail”, the frustration, depression, fear, greed, anxiety etc. Jumping into trades to be in the market all the time and not willing to wait by the sidelines and all this leading to losses.
I came across J16’s thread last week and have become impressed by price action, J16’s teachings,...
Hi Cityman and welcome to the J16 group,

1. As The PF was started 4 yrs back, I am worried whether there will be an information overload there and whether I will just drown in it!! Do you think one will be able to grasp the price action teachings in at least a few months? To complicate this, I am working fulltime and I have to look for the longer time frames.

A1) You need not worry abt any "information fatigue syndrome". The amount of valuable information at the pf is HUGE but it's very well organized and meant specially for the newbies (nice and easy detailed explanations of the basics as well as the advanced stuff)

Don't worry too much abt the dearth of time, you are in fact recommened to start from the higher tfs even if you wish to try things out on the lower tfs.


2. I understand that there were more than 350 members within the first few months and it is likely to be more crowded now. Is this going to affect the learning process?

A2) lol. not really, the member list is indeed growing but the pf is far...very far from being a clattered place with insufficient attention to any given individual. If you don't believe me shoot Mike (mbqb11- the newbie instructor at the pf) a pm with a question here at the public thread only and you'll know what I mean...these ppl (mike along with the other seniors and the common posters here at this thread) are sick when it comes to helping those in need.

3. The enormity of this thread makes me worry whether I will be able to get the info in a concise and precise manner without having to wander through hundreds and thousands of posts.

A3) Again joining the pf is one option you have for the reasons mentioned above, but it is obviously not an absolute necessity. You must at least go through the first few hundred pages of this thread to get a good hang of exactly what we do,

--------------------

Cheers,

ghous.
__________________
- "It is dead simple folks." <--> James16
Reply With Quote
  #49323  
Old Dec 7, 2009 9:16am
ghous's Avatar
<<--(-$-)-->>
 
Member Since Jan 2008
Default

Quote:
Originally Posted by mattfx View Post
A Christmas Poem for J16 Traders
As the year is drawing to a close, having started the year wishing to be freed from our bosses
It so happened that we needed a mentor to show us the way, to show us the profits and to respect the losses

Yet as surely as Christmas arrives, working hard to make dreams come true,
While the experienced traders look on and say, it is all up to you

So let?s celebrate J16?s thread
And wish him all the best
For as surely as this thread has survived, being something that could not be contrived

We have arrived...
Awesome Matt!

Thankyou for the great gift to this family.

g.
__________________
- "It is dead simple folks." <--> James16
Reply With Quote
  #49326  
Old Dec 7, 2009 10:10am
ghous's Avatar
<<--(-$-)-->>
 
Member Since Jan 2008
Default

Quote:
Originally Posted by cityman View Post
Hi
I am new to FF and have been “trying to trade” forex for nearly a year. I am going through the journey most forex traders go through. I don’t have to explain to you guys about “looking for quick money”, searching for the Holy Grail”, the frustration, depression, fear, greed, anxiety etc. Jumping into trades to be in the market all the time and not willing to wait by the sidelines and all this leading to losses.
I came across J16’s thread last week and have become impressed by price action, J16’s teachings,...
Hi Cityman and welcome to the J16 group,

1. As The PF was started 4 yrs back, I am worried whether there will be an information overload there and whether I will just drown in it!! Do you think one will be able to grasp the price action teachings in at least a few months? To complicate this, I am working fulltime and I have to look for the longer time frames.

A1) You need not worry abt any "information fatigue syndrome". The amount of valuable information at the pf is HUGE but it's very well organized and meant specially for the newbies (nice and easy detailed explanations of the basics as well as the advanced stuff)

Don't worry too much abt the dearth of time, you are in fact recommened to start from the higher tfs even if you wish to try things out on the lower tfs.


2. I understand that there were more than 350 members within the first few months and it is likely to be more crowded now. Is this going to affect the learning process?

A2) lol. not really, the member list is indeed growing but the pf is far...very far from being a clattered place with insufficient attention to any given individual. If you don't believe me shoot Mike (mbqb11- the newbie instructor at the pf) a pm with a question here at the public thread only and you'll know what I mean...these ppl (mike along with the other seniors and the common posters here at this thread) are sick when it comes to helping those in need.

3. The enormity of this thread makes me worry whether I will be able to get the info in a concise and precise manner without having to wander through hundreds and thousands of posts.

A3) Again joining the pf is one option you have for the reasons mentioned above, but it is obviously not an absolute necessity. You must at least go through the first few hundred pages of this thread to get a good hang of exactly what we do,

--------------------

Cheers,

ghous.
__________________
- "It is dead simple folks." <--> James16
Reply With Quote
  #49323  
Old Dec 7, 2009 9:16am
ghous's Avatar
<<--(-$-)-->>
 
Member Since Jan 2008
Default

Quote:
Originally Posted by mattfx View Post
A Christmas Poem for J16 Traders
As the year is drawing to a close, having started the year wishing to be freed from our bosses
It so happened that we needed a mentor to show us the way, to show us the profits and to respect the losses

Yet as surely as Christmas arrives, working hard to make dreams come true,
While the experienced traders look on and say, it is all up to you

So let?s celebrate J16?s thread
And wish him all the best
For as surely as this thread has survived, being something that could not be contrived

We have arrived...
Awesome Matt!

Thankyou for the great gift to this family.

g.
__________________
- "It is dead simple folks." <--> James16
Reply With Quote
  #49326  
Old Dec 7, 2009 10:10am
ghous's Avatar
<<--(-$-)-->>
 
Member Since Jan 2008
Default

Quote:
Originally Posted by cityman View Post
Hi
I am new to FF and have been “trying to trade” forex for nearly a year. I am going through the journey most forex traders go through. I don’t have to explain to you guys about “looking for quick money”, searching for the Holy Grail”, the frustration, depression, fear, greed, anxiety etc. Jumping into trades to be in the market all the time and not willing to wait by the sidelines and all this leading to losses.
I came across J16’s thread last week and have become impressed by price action, J16’s teachings,...
Hi Cityman and welcome to the J16 group,

1. As The PF was started 4 yrs back, I am worried whether there will be an information overload there and whether I will just drown in it!! Do you think one will be able to grasp the price action teachings in at least a few months? To complicate this, I am working fulltime and I have to look for the longer time frames.

A1) You need not worry abt any "information fatigue syndrome". The amount of valuable information at the pf is HUGE but it's very well organized and meant specially for the newbies (nice and easy detailed explanations of the basics as well as the advanced stuff)

Don't worry too much abt the dearth of time, you are in fact recommened to start from the higher tfs even if you wish to try things out on the lower tfs.


2. I understand that there were more than 350 members within the first few months and it is likely to be more crowded now. Is this going to affect the learning process?

A2) lol. not really, the member list is indeed growing but the pf is far...very far from being a clattered place with insufficient attention to any given individual. If you don't believe me shoot Mike (mbqb11- the newbie instructor at the pf) a pm with a question here at the public thread only and you'll know what I mean...these ppl (mike along with the other seniors and the common posters here at this thread) are sick when it comes to helping those in need.

3. The enormity of this thread makes me worry whether I will be able to get the info in a concise and precise manner without having to wander through hundreds and thousands of posts.

A3) Again joining the pf is one option you have for the reasons mentioned above, but it is obviously not an absolute necessity. You must at least go through the first few hundred pages of this thread to get a good hang of exactly what we do,

--------------------

Cheers,

ghous.
__________________
- "It is dead simple folks." <--> James16
Reply With Quote
  #49435  
Old Dec 9, 2009 6:15am
ghous's Avatar
<<--(-$-)-->>
 
Member Since Jan 2008
Default

Quote:
Originally Posted by wh1zz0 View Post
Be careful. It might look like a very delicious pin but watch out because price is already at it's first area of trouble (R).

I may be wrong too, just the way I see it though.

Attachment 375841


Instead I took this a while back and I'm out.

Attachment 375846
I agree.

Sometimes these long nosed pins can really trick you.

What prevented me from jumping on to this one was the close.

Had it closed a buob possibly above the blue rectangle (on my chart) it would have been a prettier sight.

g.
Attached Images
 
__________________
- "It is dead simple folks." <--> James16
Reply With Quote
  #49438  
Old Dec 9, 2009 6:31am
ghous's Avatar
<<--(-$-)-->>
 
Member Since Jan 2008
Default

Quote:
Originally Posted by g_j_hook@yah View Post
agreed that this is one to play on a tight lease, i feel 164.00 is possible though. i have allready closed most of the possition for a small profit. now its free so ill let it run a while??
btw it was the 3h buob on oanda that got me in rather than the pin
jon
If Wh1's "first trouble area" breaks 164 sure could be quite a reality...

Again it all simplifies down to understanding the risks involved in every trade descision, when you know how to manage your risk you are definitely on the right track.

" have allready closed most of the possition for a small profit. now its free so ill let it run a while" -----> This just made my day.

g.
__________________
- "It is dead simple folks." <--> James16
Reply With Quote
  #49446  
Old Dec 9, 2009 6:53am
ghous's Avatar
<<--(-$-)-->>
 
Member Since Jan 2008
Default

Quote:
Originally Posted by triger88990 View Post
It's have been a gorgeous night,it's my second night consecutive without having a sleep, only taking a nap,when the action was low.

everything have been developed like I planned.

When you are doing your tasks, be sure that you will be rewarded. This days the market seems to be very sexy with us.

Anyway I will never stop being gratitude with all of you guys from here that have make our life more easiest.

After just 2 weeks I'm up by 228%

wish you all the best!!
.

Nice work,

However, don't get accustomed to such returns on a regular basis. They are not for real and when chased, they guarantee you long term failure...

Remember, 'slow yet steady' is the way to go.

Ghous.
__________________
- "It is dead simple folks." <--> James16
Reply With Quote
  #49451  
Old Dec 9, 2009 7:15am
ghous's Avatar
<<--(-$-)-->>
 
Member Since Jan 2008
Default

Quote:
Originally Posted by triger88990 View Post
thanks ghous

I'm trying to be even more patience, but when the market it's give you a signal for entry I will be all over it. I'm not trying to chase the market but instead let the market to come to me.

For me the single issue is to be patience,and I think that this aptitude is needed by everyone who wants to succeed in this business.I'm finding myself that as more time is pass I'm becoming more patience.

whis you the best!!
Point is a "patience mode" should never have sparked such returns,

I don't see anything out there so spectacular that a conservative patient trader who waits only for the very best trades posts that (228% in 2 weeks) kind of statistics.

It's difficult to see the other side of the picture right now, but consider the damage that you'll do to your confidence if this "conservative approach" (as you call it) back fires and you end up loosing 200% in the next 2 weeks.

You'll be down and out thinking..."well, being picky gave me this! wonder what being a Raczekfx is like? "

There's a very good reason why being conservative and picky is so very important, the mere illusion of it can kill you...or rather your hopes of ever making it in this business.

In a nutshell, congrats on the phenomenal returns, however since it is impossible for you to maintain a track record anywhere near the one you posted it's best to cut down on your trades and ensure a much less yet consistent return every week/month.

cheers.

Ghous.
__________________
- "It is dead simple folks." <--> James16
Reply With Quote
  #49469  
Old Dec 9, 2009 9:38am
ghous's Avatar
<<--(-$-)-->>
 
Member Since Jan 2008
Default

Quote:
Originally Posted by wh1zz0 View Post
I still feel sorry for people who went long GU and still left their SL in loss seeing the first area of trouble but saying "ah it's going up".... I remember one VERY FUNNY example Jim gave in one of his king video tutorials.. He said...

"what should I do, what should I do, look at the draw down, look at the draw down.. oh my God.. what should I do.."

Made me laugh for hours because I remember long ago when life used to be like that!! LOL I REFUSE TO TRADE LIKE THAT!!


Solid Price action,

Simple
Neat
Deadly.

...err...wait...did somenody had this as their sig? albchr?
A very powerful statement this.

g.
__________________
- "It is dead simple folks." <--> James16
Reply With Quote
  #49435  
Old Dec 9, 2009 6:15am
ghous's Avatar
<<--(-$-)-->>
 
Member Since Jan 2008
Default

Quote:
Originally Posted by wh1zz0 View Post
Be careful. It might look like a very delicious pin but watch out because price is already at it's first area of trouble (R).

I may be wrong too, just the way I see it though.

Attachment 375841


Instead I took this a while back and I'm out.

Attachment 375846
I agree.

Sometimes these long nosed pins can really trick you.

What prevented me from jumping on to this one was the close.

Had it closed a buob possibly above the blue rectangle (on my chart) it would have been a prettier sight.

g.
Attached Images
 
__________________
- "It is dead simple folks." <--> James16
Reply With Quote
  #49438  
Old Dec 9, 2009 6:31am
ghous's Avatar
<<--(-$-)-->>
 
Member Since Jan 2008
Default

Quote:
Originally Posted by g_j_hook@yah View Post
agreed that this is one to play on a tight lease, i feel 164.00 is possible though. i have allready closed most of the possition for a small profit. now its free so ill let it run a while??
btw it was the 3h buob on oanda that got me in rather than the pin
jon
If Wh1's "first trouble area" breaks 164 sure could be quite a reality...

Again it all simplifies down to understanding the risks involved in every trade descision, when you know how to manage your risk you are definitely on the right track.

" have allready closed most of the possition for a small profit. now its free so ill let it run a while" -----> This just made my day.

g.
__________________
- "It is dead simple folks." <--> James16
Reply With Quote
  #49446  
Old Dec 9, 2009 6:53am
ghous's Avatar
<<--(-$-)-->>
 
Member Since Jan 2008
Default

Quote:
Originally Posted by triger88990 View Post
It's have been a gorgeous night,it's my second night consecutive without having a sleep, only taking a nap,when the action was low.

everything have been developed like I planned.

When you are doing your tasks, be sure that you will be rewarded. This days the market seems to be very sexy with us.

Anyway I will never stop being gratitude with all of you guys from here that have make our life more easiest.

After just 2 weeks I'm up by 228%

wish you all the best!!
.

Nice work,

However, don't get accustomed to such returns on a regular basis. They are not for real and when chased, they guarantee you long term failure...

Remember, 'slow yet steady' is the way to go.

Ghous.
__________________
- "It is dead simple folks." <--> James16
Reply With Quote
  #49451  
Old Dec 9, 2009 7:15am
ghous's Avatar
<<--(-$-)-->>
 
Member Since Jan 2008
Default

Quote:
Originally Posted by triger88990 View Post
thanks ghous

I'm trying to be even more patience, but when the market it's give you a signal for entry I will be all over it. I'm not trying to chase the market but instead let the market to come to me.

For me the single issue is to be patience,and I think that this aptitude is needed by everyone who wants to succeed in this business.I'm finding myself that as more time is pass I'm becoming more patience.

whis you the best!!
Point is a "patience mode" should never have sparked such returns,

I don't see anything out there so spectacular that a conservative patient trader who waits only for the very best trades posts that (228% in 2 weeks) kind of statistics.

It's difficult to see the other side of the picture right now, but consider the damage that you'll do to your confidence if this "conservative approach" (as you call it) back fires and you end up loosing 200% in the next 2 weeks.

You'll be down and out thinking..."well, being picky gave me this! wonder what being a Raczekfx is like? "

There's a very good reason why being conservative and picky is so very important, the mere illusion of it can kill you...or rather your hopes of ever making it in this business.

In a nutshell, congrats on the phenomenal returns, however since it is impossible for you to maintain a track record anywhere near the one you posted it's best to cut down on your trades and ensure a much less yet consistent return every week/month.

cheers.

Ghous.
__________________
- "It is dead simple folks." <--> James16
Reply With Quote
  #49469  
Old Dec 9, 2009 9:38am
ghous's Avatar
<<--(-$-)-->>
 
Member Since Jan 2008
Default

Quote:
Originally Posted by wh1zz0 View Post
I still feel sorry for people who went long GU and still left their SL in loss seeing the first area of trouble but saying "ah it's going up".... I remember one VERY FUNNY example Jim gave in one of his king video tutorials.. He said...

"what should I do, what should I do, look at the draw down, look at the draw down.. oh my God.. what should I do.."

Made me laugh for hours because I remember long ago when life used to be like that!! LOL I REFUSE TO TRADE LIKE THAT!!


Solid Price action,

Simple
Neat
Deadly.

...err...wait...did somenody had this as their sig? albchr?
A very powerful statement this.

g.
__________________
- "It is dead simple folks." <--> James16
Reply With Quote
  #49550  
Old Dec 10, 2009 10:32am
ghous's Avatar
<<--(-$-)-->>
 
Member Since Jan 2008
Default

Quote:
Originally Posted by nasir.khan View Post
Haha,

Btw where do you see Trouble areas.

760 , 780-790 , 800 , 810-820 , 903.
Careful bro,

You'ra trading within very tightly range bound price action. These so called range boxes are best played for a breakout or when wide enough they can be manipulated at extremes. The BUOB is kind of stuck in between this tight range, and price might merely continue to chop it's way around,

Difficult to manage these IMHO.

g.
Attached Images
 
__________________
- "It is dead simple folks." <--> James16
Reply With Quote
  #49551  
Old Dec 10, 2009 10:40am
ghous's Avatar
<<--(-$-)-->>
 
Member Since Jan 2008
Default

Quote:
Originally Posted by benji533 View Post
ok closed that short yesterday for 8R and went long as planed in my above post.

wow...I LOVE dailies. Really. No stress, time for everything, and still good money.

Trade well everyone!...and congrats trigger
Wow!

For a moment I thought Rac had played around with his chart colors a bit.

Keep up the good work bro.

g.
__________________
- "It is dead simple folks." <--> James16
Reply With Quote
  #49550  
Old Dec 10, 2009 10:32am
ghous's Avatar
<<--(-$-)-->>
 
Member Since Jan 2008
Default

Quote:
Originally Posted by nasir.khan View Post
Haha,

Btw where do you see Trouble areas.

760 , 780-790 , 800 , 810-820 , 903.
Careful bro,

You'ra trading within very tightly range bound price action. These so called range boxes are best played for a breakout or when wide enough they can be manipulated at extremes. The BUOB is kind of stuck in between this tight range, and price might merely continue to chop it's way around,

Difficult to manage these IMHO.

g.
Attached Images
 
__________________
- "It is dead simple folks." <--> James16
Reply With Quote
  #49551  
Old Dec 10, 2009 10:40am
ghous's Avatar
<<--(-$-)-->>
 
Member Since Jan 2008
Default

Quote:
Originally Posted by benji533 View Post
ok closed that short yesterday for 8R and went long as planed in my above post.

wow...I LOVE dailies. Really. No stress, time for everything, and still good money.

Trade well everyone!...and congrats trigger
Wow!

For a moment I thought Rac had played around with his chart colors a bit.

Keep up the good work bro.

g.
__________________
- "It is dead simple folks." <--> James16
Reply With Quote
  #49840  
Old Dec 16, 2009 12:31pm
ghous's Avatar
<<--(-$-)-->>
 
Member Since Jan 2008
Default

Quote:
Originally Posted by dobe_r_man View Post
Absolutely and very protective of them.
Cool!
__________________
- "It is dead simple folks." <--> James16
Reply With Quote
  #49962  
Old Dec 17, 2009 8:26am
ghous's Avatar
<<--(-$-)-->>
 
Member Since Jan 2008
Default

Quote:
Originally Posted by Bee3a View Post
I'm new here as I'm new to forex.. I'm so grateful for james and the team who put so much information and efforts to ease the way to new aspiring traders..
also I'm thankful I had to be faced with the true consequences and true examples of how bad things can go in this business..
I'll take the stairs instead of the lift and climb step by step..
Thanks for the effort everyone...
Hi Bee,

Welcome to the thread.

Can't wait to see you get a real good start.

Do please feel yourself at home here,

cheers,

Ghous.
__________________
- "It is dead simple folks." <--> James16
Reply With Quote
  #50093  
Old Dec 19, 2009 2:25am
ghous's Avatar
<<--(-$-)-->>
 
Member Since Jan 2008
Default

Quote:
Originally Posted by Jams View Post
Hi @ all in this very nice forum!

This is my forst post here and I would like to thank you all for your great work here.

I?m pretty new in FX and I was one of those that thaught that I had to trade the 1 minute chart... after reading the whole thread of Jacko and then watching all the free stuff on the James16 homepage and beginning to read this huge thread I now know what I have to do.

Learn the basics, be patient, trade the 1 week/daily chart, be patient ;-)

And I hope that I can do that, with your help!!

P.S.: Yesterday I made I nice...
Yet Another prospective pro trader.

Welcome aboard James.

g.
__________________
- "It is dead simple folks." <--> James16
Reply With Quote
  #50098  
Old Dec 19, 2009 5:38am
ghous's Avatar
<<--(-$-)-->>
 
Member Since Jan 2008
Default

Quote:
Originally Posted by nasir.khan View Post
Nice to see you posting jeff,

I've been reading Rac's posts for 1.5 months and watched that rant's and charts video several times also. I traded looking at 1H-4H as my main Time frames for S/R+TL's+FIB's and getting down to 30M-15M-5M for PA or precise entries. I screwed up with my trades most of time because of not moving stop to BE quickly, missing good ones, try to get back in the missed ones, missing major PPZ's and drawing orange boxes all over the charts and the next morning i would wonder looking at them what are they doing here and redrawing...
You're over complicating things Nasir, I had to read through the entire thing twice to get an idea of what you're trying to do. Using higher tfs to find trades and then fine tuning off of lower tfs is a good idea but when it comes along with touch trades and pure s/r trades and J16 trades all together + trades that are only off intraday and then there are trades based on J16 pa on only the higher tfs...you're really more messed up than it seems - Been there and done that, hence a frank advice that keep it simple, neat and tidy.

Keep you head clear as to what exactly you want to achieve and discard the rest...telling myself to postpone an advanced strategy till the right time worked for me.

cheers,

ghous.
__________________
- "It is dead simple folks." <--> James16
Reply With Quote
  #50101  
Old Dec 19, 2009 8:49am
ghous's Avatar
<<--(-$-)-->>
 
Member Since Jan 2008
Default

Quote:
Originally Posted by Scot Pippin' View Post
Just wondering how many J16'ers use Fib extentions for profit targets or at least pull them out to see where they are lining up. I just recently looked into it since I feelI'm not getting the bang for my buck.

I would like to find a trailing stop method to incorporate with the extension to try to milk some pips. Any ideas?
I've never tried them personally but this looks like a good idea.

I wouldn't hesitate to ask you to go for it, and keep us posted.

R&D is good.

g.
__________________
- "It is dead simple folks." <--> James16
Reply With Quote
  #50105  
Old Dec 19, 2009 9:32am
ghous's Avatar
<<--(-$-)-->>
 
Member Since Jan 2008
Default

Quote:
Originally Posted by Rastaman View Post
Just wanted to thank jim for this GEM.

I will thank him by joining his P-forum.

Man, it hit me like a ROCK.
Good for you.

Which pair and time frame is it?
__________________
- "It is dead simple folks." <--> James16
Reply With Quote
  #50120  
Old Dec 20, 2009 1:03am
ghous's Avatar
<<--(-$-)-->>
 
Member Since Jan 2008
Default

Quote:
Originally Posted by Rastaman View Post
Sorry, I trashed the screenshot and have been practicing while watching Jim's video, so I can't remember which pair it was.

Very interesting chap it seems.

I am really excited at the thought of studying with them after I was studying M15 tf which always confused me as to trend.

You know, the strange thing is watching the video, the daily tf even when ranging seems to give more opportunities for an entry and shows you more or less where you can expect to tp or at least go BE+, much clearer than the M15. Maybe this is just one of those things...
Quote:
I always avoided longer tf but it seems it is the only real way to trade.
not the only real way to trade but definitely the easiest way to trade and learn.

Good to have you with the group Rastaman.

g.
__________________
- "It is dead simple folks." <--> James16
Reply With Quote
  #50121  
Old Dec 20, 2009 1:31am
ghous's Avatar
<<--(-$-)-->>
 
Member Since Jan 2008
Default

Quote:
Originally Posted by krue View Post
Hey Nasir

Pardon me to break into your conversation, if you don't mind??

actually, I sent ghous a private message concerning his post that responded to yours. I asked him to make his points with more clarity, I see quite a few of good points in his post, the pity thing is that I could not understand these good points in a logical manner due to mostly I guess my poor English comprehension ability. The funny thing is that I could not tide things up if I got lost in grammer complex. A lot other experienced traders also tend to lay out their thinking...
I am sorry, I was in a hurry and just cramped my points in that post, your grammar and english is fine Krue, that was just - my bad.

Let me elaborate on my view points a bit more.

This is what Nasir wrote:



Hi ghous,

I read your post 2-3 times but i was leaving for home from office and i was thinking about it all my way.

I was saying that when i was trading 4H and lower down to 5M i was not being able to keep up with taking decisions regarding trade management, Marking my PPZ's, some times they proved to be to many and some times i did missed them.

But the biggest reason i know of failure is that i started right from the 4H downward and having a Job at the same time made things more difficult.

To be honest i never traded daily or weekly time frames ever before,I never spent/practiced more then two months with one method or system ever, I never traded a demo account more then 1-2 months before. To make this long story short I never treated it like a business .I always wanted some quick money.

I am always telling myself that it's easy and simple, I can do it without Doing 3 months demo, I can do it without practice higher TF. I love to hear/listen when some senior says you can do it on lower TF BUT i scroll my eyes over (like motion blur in racing video games) when someone is emphasizing on higher TF's. But i know i am just fooling myself wasting my hard earned money, time and energy.

The FEAR of failure is so frightening that i can't stop trying. Forex is the only way i can make it BIG in my life. But now i am starting to think that will i only be a PRETENDER that post charts on FF but can't make any money?????


So i started to change the way i have been SEEING and DOING thing ever since i came to FOREX.

I will trade demo for next 3 months, I will save money that i would've burned in this period, I will stick with one method and will try my best to keep it on Daily and Weekly.

So i am trying to stick with above and i know that my chart's are mostly on 1H-4H but my main TF are weekly and Daily, I still not can't wait for the best PA setups cause i don't have such patience level maybe i will never have and maybe i will never succeed. But on the other hand i can see that TWO thing's have improve dramatically because of higher TF. FIRST i don't have the same number of trades like before it was 12-18 in one day now they are 4-8. SECOND price is really doing what expect now.

But your post here really confused me and i am trying to put pieces together now, i know you always do keep an eye on me and i am very thankful for that.

I don't care what people will think of me after telling the truth cause i Don't need some special respect, I don't need Vouchers, I don't have ego for that. I am here to make money, chase my dreams and if i succeed i would love to help and give back.

-------------------------------------

This is exactly what I was pointing at. Like he mentiond I like to follow ppl's progress here at the thread and his (Nasir's) was among the first in the list simply because his charts, posts, trades all delineated that he was getting it. Now since I've been there myself I understand that this IMO is the most fragile moment for a prospective pro trader.

It's the time when things start to come together and when we're very likely to take things for granted.

Let me share with you what happened to me: (the seniors here and my early posts will prove this)

For the first few months I was lost. Questions like "Why do I wait for a setup for 8 days that'll barely give me 1:1 risk reward? J16 is probably a hyped thingie nothing more." gripped me and made me loose my way, and was it not for the seniors intervening to set me right, I would still have had my charts cramped up with indicators of all sorts trying to decipher the famous holy grail code.

following my determination was the sweet reward in the form of things starting to make sense to me. I started to say "fine I have to wait for a good 8 days for a setup for only a 1:1 but if it's the safest 1% I can ever get what's the issue? And of coarse once I have me feet wet I can always graduate to lower tfs and find more opps - Ok man, I've found my thing"

IMO Nasir is standing at this very stage. His charts make a hell lot of sense, you can derive from his posts that he knows what he is saying, and he's taking all the good setups around.

However as I mentioned before this is IMO is the most fragile stage for a could be successful trader.

What's more, in the hype of the events and my boosted confidence, trades from Rac suddenly appeared more tempting than ever. I can still remeber a long that I took on Gbp/Chf daily chart exactly where Mark did and for exactly the same reasons, and even more clear in my head is my jumping around for having to trade and think like Mark.

But guess what? That trade was the beginning of a regretful loss. Not that Mark had never warned us against taking his strategy up at the noob stage, it's just that we as humans like to take things for granted and that's not about to change - for any of us.

Following this I was lost for a good six months fishing around and juggling with the two methods which BTW are like the north and the south pole of the same earth.

Nasir's been doing the exact same thing and so is Benji, I can literally trace my earlier steps with Benji's current ones. The two have been doing great except that they are in a big hurry, either to make money or see themselves alongside Jim or any other pro trader ignoring the very core fact that the pros been doing this for the last XX years!

That is the bottom line which I quite casually tried to get across in that previous post of mine.

Although it seems like a paradoxical statement it is absolutely true that - "going slow and steady is the fastest way to make it in this business"

g.
__________________
- "It is dead simple folks." <--> James16
Reply With Quote
  #50123  
Old Dec 20, 2009 1:53am
ghous's Avatar
<<--(-$-)-->>
 
Member Since Jan 2008
Default

Quote:
Originally Posted by krue View Post
great, ghous, now I understand better your points. sorry to bring you into this lengthy response.
My pleasure.
__________________
- "It is dead simple folks." <--> James16
Reply With Quote
  #50124  
Old Dec 20, 2009 2:08am
ghous's Avatar
<<--(-$-)-->>
 
Member Since Jan 2008
Default Eu weekly

Just abt as simple as it can get.

Last chart for the year.

Have a great xmas and new year ppl.

ghous.
Attached Thumbnails
Click image for larger version

Name:	eu weekly.gif
Views:	78
Size:	15.6 KB
ID:	382067    
__________________
- "It is dead simple folks." <--> James16
Reply With Quote
  #50365  
Old Dec 25, 2009 12:42am
ghous's Avatar
<<--(-$-)-->>
 
Member Since Jan 2008
Default

Merry Christmas to all who celebrate the day and have a great 2010 everybody!

g.
__________________
- "It is dead simple folks." <--> James16
Reply With Quote
  #50370  
Old Dec 26, 2009 4:38am
ghous's Avatar
<<--(-$-)-->>
 
Member Since Jan 2008
Default

Quote:
Originally Posted by BullsAndBear View Post
I had to post this up here cause i just got my paws on this indi and it just put things in such an mazing perspective. Its missing only one thing and that is an indi to put verticals up for those important times of day when we may expect reversals or continuations of the trend. If anyone finds this to be of benefit I can post the indi here. But plz lmk wut u think. I drew the red verticals myself to help reveal important times of the trade sessions.

bulls
I don't know if it's just me but I have this very stupid habit of keeping my charts as clean as I possibly can.

I like that "forex market time" application which will tell me which trading session is on and most importantly it does that without obstructing my view of the bars which in my system play a pivotal role.

g.
__________________
- "It is dead simple folks." <--> James16
Reply With Quote
  #50379  
Old Dec 27, 2009 6:06am
ghous's Avatar
<<--(-$-)-->>
 
Member Since Jan 2008
Default

Quote:
Originally Posted by BullsAndBear View Post
hmmm, i thought this was about the cleanest chart id ever seen. Theres literally nothing on it except vertical lines. The opaque boxes are the indi and were part of the template and shows the high close of each session. You can plainly see before the end of each session where it decided to retrace. I thought was very enlightning. This isnt a chart to trade from, at least not for me. But it does give a view of market rythm. Im sure all this is taught here, i just havent got to it yet.


God bless
bulls
Just saying that I would never want any box "on the chart" to tell me what session we are trading into...
__________________
- "It is dead simple folks." <--> James16
Reply With Quote
  #50384  
Old Dec 28, 2009 2:23am
ghous's Avatar
<<--(-$-)-->>
 
Member Since Jan 2008
Default

Quote:
Originally Posted by bluetrader View Post
Hi perch, thanks for posting those charts. I was looking at some of these, below are my thoughts. I'm a newbie, so just trying to continue the conversation you started... I'm sure the seniors will post their feedback.

I am purely on daily's... I find mixing time frames too confusing for me.

I have no signal on EUR/CHF... although the EUR/USD is showing a similar pin bar to go short that hasn't triggered. I don't like E/U daily pin because it's not at a swing high.

Below is what I see:

EDIT: Perch, to avoid hitting Print Screen and editing...
EUR/CAD:

It's off nothing major except the 1.5 round number, and I will say that even if I go with your charts. The trend line is still very short term to get a vote from me.

So looking at it as a feeble pin bar at a time when everybody right in their minds are enjoying their Xmas vacations and with only the 1.5 as a real support for it I would rate it as a "no trade", but that's just me...

AUD/CAD:

The best of the setups you brought up, far from A+ though, the 2 day pin could have been longer, and again it's the worst time to be trading but given it's broken nicely it could push 9345.

Eur/Usd:

Not a setup at all! We don't trade pin bars just because they appears, we trade them selectively because those that appeal to us have got to tell us something abt the changed sentiment of the market and that BTW is best deduced from their locations. period.

--------

Quite seriously I don't get this idea of foregoing all the fun just cuz I can't let go off the pips...well, unless I am in dire need of a trade, and that, I am thankfully not.

g.
__________________
- "It is dead simple folks." <--> James16
Reply With Quote
  #50389  
Old Dec 28, 2009 9:28am
ghous's Avatar
<<--(-$-)-->>
 
Member Since Jan 2008
Default

Quote:
Originally Posted by packhorse View Post
Thanks for this.

Can you please explain why EUR/USD is not a set-up? I entered on PB on the 4hr chart on 24th December with the nose piercing s&r at 1.4391. The trend is also down.

I am not disputing what you say, however, I am trying to understand the reasoning.

Thanks
To start off I was talking abt the pin bar on the daily, the 4H wasn't all that great either but a better bet than the daily...


Now looking at the daily pin bar, the most obvious factor that made me cry out "HELL NO" was the fact that its located almost at a swing low, and that we don't want.

This is so because the most important factor in a trade that runs well is that it has space to operate in, by targeting a swing low for a bearish pin bar we are hoping against hope that the swing low will not hold which can be a costly mistake.

Pop up your weekly Eur/Usd chart and try to sniff at the aroma of the 1.43 price level, the swing low we're talking abt is one that has formed at this rock solid level.

Would you bet your bank the pin bar you see on the daily will definitely bust through 1.43? I for one would not...and that's the whole point,

We try hard not to enter but rather to not enter the market until enough odds are in favor.

Add in what Marcel said and you have enough reasons to dump such setups.

g.
Attached Images
 
__________________
- "It is dead simple folks." <--> James16
Reply With Quote
  #50392  
Old Dec 28, 2009 9:44am
ghous's Avatar
<<--(-$-)-->>
 
Member Since Jan 2008
Default

Quote:
Originally Posted by dobe_r_man View Post
Merry Xmas to J16, Mike and the gang along with all the thread members and a happy new year (I won't be late now for this one).

Be thankful for your kids, family, stubborn non-sleeping puppy and great friends!!

A merry Pipmas to all and to all a good night!!

As you can tell I have not had much sleep due to little T-Rex! I hope the sincerity is not lost in the message though.
lol,

Your love for the dogs is admirable

Have a good one

g.
__________________
- "It is dead simple folks." <--> James16
Reply With Quote
  #50395  
Old Dec 28, 2009 10:00am
ghous's Avatar
<<--(-$-)-->>
 
Member Since Jan 2008
Default

Quote:
Originally Posted by packhorse View Post
Hi Guys,

I tend to try and trade 4 hr or daily set-ups.

When trading with the trend, what chart would use to decide the trend for basing your set-ups? Is it as per the weekly chart or shorter term.

Thanks for your help.
Higher time frame trends as well as the one on the time frame you're basing the trade are important.

Only trends on the time frames lower than the one you are trading on are irrelevant.

The whole point of analyzing higher time frames is to gauge the over all trend direction and longer term ppzs.

g.
__________________
- "It is dead simple folks." <--> James16
Reply With Quote
  #50402  
Old Dec 28, 2009 11:23am
ghous's Avatar
<<--(-$-)-->>
 
Member Since Jan 2008
Default

Quote:
Originally Posted by marcelnyo View Post
Well I didn't read your previous post so my bad G. :P

What are u doing this holiday season?
Wondering if I will be seeing my grand children or for that matter my own children some day or not?

http://www.dawn.com/wps/wcm/connect/...-karachi-qs-09
__________________
- "It is dead simple folks." <--> James16
Reply With Quote
  #50428  
Old Dec 29, 2009 2:47am
ghous's Avatar
<<--(-$-)-->>
 
Member Since Jan 2008
Default

Quote:
Originally Posted by marcelnyo View Post
Good Lord! you should move to a safer place! at least that's what I'm gonna do.

I hope you're safe and healthy
I wish it was as easy as just packing my bag and waiting for the earliest flight out of here. It's obviously not.

But I have that as my eventual plan Marcel,

So far I am good. (physically I mean)

g.
__________________
- "It is dead simple folks." <--> James16
Reply With Quote
  #50473  
Old Dec 30, 2009 2:12am
ghous's Avatar
<<--(-$-)-->>
 
Member Since Jan 2008
Default

Quote:
Originally Posted by Moxy_UK View Post
We have a pin bouncing off the .382 and previous res. It reached up to 1.0385-ish which is going into the bars from the 17th, 18th and 21st so it has a lot of work to do. May not be A+ due to it's location but worth a watch.

Attachment 384763
You certainly read that well, should be fun to see it divulge,

g.
__________________
- "It is dead simple folks." <--> James16
Reply With Quote
  #50485  
Old Dec 30, 2009 9:42am
ghous's Avatar
<<--(-$-)-->>
 
Member Since Jan 2008
Default

Quote:
Originally Posted by nasir.khan View Post
.
Oh Boy.

That was running into any and every possible obstruction you could think of.

9000 round number ppz

50 fib

150 ema

365 ema

you name it...

Now that you've made it through I hope it's already a free trade, you can't let those hurt you.

g.
Attached Images
 
__________________
- "It is dead simple folks." <--> James16
Reply With Quote
  #50486  
Old Dec 30, 2009 9:44am
ghous's Avatar
<<--(-$-)-->>
 
Member Since Jan 2008
Default

Quote:
Originally Posted by KissFan View Post
Out at +80.

K.I.S.S.
That one worked out as neat as ever...

Nice catch KISS

g.
__________________
- "It is dead simple folks." <--> James16
Reply With Quote
  #50491  
Old Dec 30, 2009 9:54am
ghous's Avatar
<<--(-$-)-->>
 
Member Since Jan 2008
Default

Quote:
Originally Posted by Pinnocchio_S View Post
You've got a point. Although its looking like I'm going to get my 50 pips profit target, I experienced a drawdown (including spread) of around 80 ..... don't like the R:R on that!

& yes I am demoing
usually the spreads are in proportion to the volatility of the pair in which case spreads don't matter muc. (look at gold for example)

If that's not the case and as you say you see your target only 50 pips away then I agree with Dobe it's futile to trade that exotic.

g.
__________________
- "It is dead simple folks." <--> James16
Reply With Quote
  #50495  
Old Dec 30, 2009 10:01am
ghous's Avatar
<<--(-$-)-->>
 
Member Since Jan 2008
Default

Quote:
Originally Posted by KissFan View Post
Thanks Ghous! Happy New Year to you brother and thank you for all of your charts. This thread is a better place because of your contribution.

K.I.S.S.
Back at you mate.

Have a pip filled 2010 with a topping of happiness and blessings!

g.
__________________
- "It is dead simple folks." <--> James16
Reply With Quote
  #50501  
Old Dec 30, 2009 10:25am
ghous's Avatar
<<--(-$-)-->>
 
Member Since Jan 2008
Default

Quote:
Originally Posted by supremeChaos View Post
why not concentrate on the liquid/more liquid pairs?
or do u have a fetish for exotics?


You crack me up man...
__________________
- "It is dead simple folks." <--> James16
Reply With Quote
  #50506  
Old Dec 30, 2009 10:38am
ghous's Avatar
<<--(-$-)-->>
 
Member Since Jan 2008
Default

Quote:
Originally Posted by supremeChaos View Post
really?
i have fetishes too, lol
i can crack anyone, anything & everything but i dont use firecrackers on New Year's eve, i want to keep my hands & body complete/intact & injury-free
I've had enough of firecrackers too...one just day before yesterday killed 40, injured more than 100 and robbed our economy of over 20 billion rupees...

No fire crackers this time on new year here, I'd rather trade on the 31st at 12:00 midnight then blow any crackers.

Have a great 2010 Chaos.

g,

EDIT: OH...2 years to doomsday! YIKES

__________________
- "It is dead simple folks." <--> James16
Reply With Quote
  #50633  
Old Jan 4, 2010 6:39am
ghous's Avatar
<<--(-$-)-->>
 
Member Since Jan 2008
Default

Quick 1% in the bag when you know what you're doing. Quick 1% in the bin when you don't.

.
Attached Images
 
__________________
- "It is dead simple folks." <--> James16
Reply With Quote
  #50650  
Old Jan 4, 2010 10:37am
ghous's Avatar
<<--(-$-)-->>
 
Member Since Jan 2008
Default

Quote:
Originally Posted by Punter View Post
Hello Guys
Happy New Year to all!
Its great place to be in. Been lurking and learning for past couple of months and looks like things are getting inside my brain.

H4-GCf short:
1. 8 hour reversal pattern at Strong PPZ.
2. Round No.
3. 50% fib
4. 365 EMA.
5. With Trend.

Cheers
Punter
Hi Punter,

So you've been delaying your first post here at this thread for all the right reasons.

"The good setups will usually always make it to the first trouble area" (Mike i.e mbqb11)

...and looks like this one of yours is well on its way...

Welcome to the group.

g.
Attached Images
 
__________________
- "It is dead simple folks." <--> James16
Reply With Quote
  #50711  
Old Jan 5, 2010 3:12am
ghous's Avatar
<<--(-$-)-->>
 
Member Since Jan 2008
Default

Quote:
Originally Posted by Treefingers View Post
Hi,

If I have some questions regarding the PF are they best asked here or through contacts on the PF website?

Also just a genral question on the PF, are there many Aussies on there as our timezone can sometime makes things a bit challenging?

Thanks
We don't eat ppl for bad questions, so you might as well feel free to shoot them here, or if you find personal contact more comfortable you can pm any of the seniors here or use the contact feature at the james16group website, not an issue really...

And there are quite a few Aussies at the pf...

g.
__________________
- "It is dead simple folks." <--> James16
Reply With Quote
  #50713  
Old Jan 5, 2010 3:20am
ghous's Avatar
<<--(-$-)-->>
 
Member Since Jan 2008
Default

Quote:
Originally Posted by marcelnyo View Post
Hi, I guess here is a better place as any, there is mbqb11 here who practically lives in this thread... but since I think this is his naptime, I'll try to answer your questions, I hope you don't mind.

Have you read through all of the public thread? I think bundyraider lives in australia, though I don't know for sure.

Why would where you're from be an obstacle anyway?
Not an obstacle Marcel but a certain motivating factor,

I've been longing to see pakis here at the thread sharing these pots of gold with me, and was happy as ever to finally see Nasir stop by,

not treefingers but just sayin'...
__________________
- "It is dead simple folks." <--> James16
Reply With Quote
  #50716  
Old Jan 5, 2010 3:48am
ghous's Avatar
<<--(-$-)-->>
 
Member Since Jan 2008
Default

Quote:
Originally Posted by supremeChaos View Post
there are also very few traders from my place. i know of only lurkers here from my place...
i need motivation too
You need some to add in a couple of ff users in your tiny buddy list. ...
__________________
- "It is dead simple folks." <--> James16
Reply With Quote
  #50757  
Old Jan 5, 2010 9:43am
ghous's Avatar
<<--(-$-)-->>
 
Member Since Jan 2008
Default

Quote:
Originally Posted by ppfx View Post
supremechaos youre right its just that previously i made a lot of mistakes when i missed some good oportunites and then i rushed in some other trades without thinking much and then i lost...
For me it was always a vicious cycle.

Few mistakes...losses...panic...more nervous trades resulting in more mistakes...more losses...more panic and so on

Don't forget to clear your head of anxiety if you've lost and excitement if you have won before you move on to the next one, helps tremendously.



g.
__________________
- "It is dead simple folks." <--> James16

Last edited by ghous, Jan 5, 2010 11:04am
Reply With Quote
  #50766  
Old Jan 5, 2010 11:03am
ghous's Avatar
<<--(-$-)-->>
 
Member Since Jan 2008
Default

Quote:
Originally Posted by gasgas View Post
In other words ''clear your head after each trade'' no matter how it ends, wright?
Absolutely.
__________________
- "It is dead simple folks." <--> James16
Reply With Quote
  #50767  
Old Jan 5, 2010 11:30am
ghous's Avatar
<<--(-$-)-->>
 
Member Since Jan 2008
Default

Ej 4H IPB

Swing high

Divergence

(not at all happy abt missing this one)
Attached Images
 
__________________
- "It is dead simple folks." <--> James16
Reply With Quote
  #50835  
Old Jan 6, 2010 1:26am
ghous's Avatar
<<--(-$-)-->>
 
Member Since Jan 2008
Default

Quote:
Originally Posted by NosferatuMan View Post
Hy ghous,

If I may ask, what was the bar that you refer on your post?

Is it the tiny green PB that reaches to the top?
Quote:
Originally Posted by Glenborrell View Post
ghous, IPB? What does this mean? Inside pin bar? Sorry if this has been covered but i've not come across this before.

Thanks,

Glen
Hey Guys,

IPB = Inverted Pin Bar

it's a reversal setup just like a pin bar, we talked abt them in detail when we first tried to play them, but I've not talked abt them a lot as these can be very tricky to play and we have mostly newbies here trying to get their hands wet at the basic stuff...

ps I don't want you guys to look at a good pin and fall into any illusion that it's an ipb, Mike's got enough of questions to deal with to add any more to the list.

Chaos was kind enough to refer you ppl to the posts where we discussed them, go through these and if you have any questions shoot them here or pm me and we'll talk them through,

cheers,

g.
__________________
- "It is dead simple folks." <--> James16
Reply With Quote
  #50837  
Old Jan 6, 2010 4:21am
ghous's Avatar
<<--(-$-)-->>
 
Member Since Jan 2008
Default

Inside bars such these just make me smile...or rather...

Clear intentions,

Sweet locations.

BOOM!

g.
Attached Images
 
__________________
- "It is dead simple folks." <--> James16
Reply With Quote
  #50842  
Old Jan 6, 2010 6:00am
ghous's Avatar
<<--(-$-)-->>
 
Member Since Jan 2008
Default

Eur/Gbp.
Attached Images
 
__________________
- "It is dead simple folks." <--> James16
Reply With Quote
  #50843  
Old Jan 6, 2010 6:05am
ghous's Avatar
<<--(-$-)-->>
 
Member Since Jan 2008
Default

Quote:
Originally Posted by ljr View Post
Good one Ghous

I shorted the GbpChf 1H pin. Still in looking for 16500.

I see you are liking the hourly charts these days!
All part of a new experiment.

"Limited intra day cherry picking to only the first trouble area"

Nice ride on the Gbp/Chf BTW, I was done for the day when Eur/Gbp ran for me. (previous post)



g.
__________________
- "It is dead simple folks." <--> James16
Reply With Quote
  #50847  
Old Jan 6, 2010 6:47am
ghous's Avatar
<<--(-$-)-->>
 
Member Since Jan 2008
Default

Quote:
Originally Posted by Glenborrell View Post
ghous,

Thanks for this. I was just wndering what it was. I don't think i'll be going near these for a while as i need to nail down the basics first.

Thanks again,

Glen
That's a mature and an excellent decision.

g.
__________________
- "It is dead simple folks." <--> James16
Reply With Quote
  #50939  
Old Jan 7, 2010 1:31am
ghous's Avatar
<<--(-$-)-->>
 
Member Since Jan 2008
Default

Quote:
Originally Posted by supremeChaos View Post
IPB recent example on eurusd H1

red arrow points at the IPB
red horizontal line (tail end of the IPB) is (initial) exit.
Attachment 387574
Nice Mate.

Hope it's still on demo unless you've spent some time with these goodies already.

g.
__________________
- "It is dead simple folks." <--> James16
Reply With Quote
  #50976  
Old Jan 7, 2010 11:15am
ghous's Avatar
<<--(-$-)-->>
 
Member Since Jan 2008
Default

Quote:
Originally Posted by Hova View Post
What do you guys think of EUR/NZD today ? PB on a nice Round No. 1.95
Lookin back to late 07 and early 08 this is a well respected ppz..?
I would say the nose is not as long as i would like it.

I think i try this one and move Sl to BE real fast...20-30 pips ?

hope i got that right

thx for all ya help
Hi Hova,

We want our pin bars to be nice and prominent, when scrutinizing pin bars always compare the size of the pin bar with the preceding bars. For the pin bar to be of any real value it must at least be as long as the preceding bars.

You can clearly see those large BEBs formulating that bear run, we want a super super good pin bar to convince us to beat the odds of going against such a dominant trend, and any such bar will have to be sufficiently bigger then the bar you pointed out.

cheers.

EDIT: chart 1: real chart

chart 2: as should have been for potential long trade.

Ghous.
Attached Images
  
__________________
- "It is dead simple folks." <--> James16
Reply With Quote
  #50978  
Old Jan 7, 2010 11:28am
ghous's Avatar
<<--(-$-)-->>
 
Member Since Jan 2008
Default

Quote:
Originally Posted by Hova View Post
Nice thx ! Now that cleared my mind. I definitely learn best by watchin charts.
As you know im new to this, thus my mind wants to take all Pb's...
I read all that stuff about sniping and not shotgunnin trades and i will read it over and over again until i dream of this stuff

edit: i knew the bar wasn't closed at that moment, i just wanted to ask
We all began here and you are no exception,

Just keep at it and exercise patience as much as you possibly can...you'll grow out of it

g.
__________________
- "It is dead simple folks." <--> James16
Reply With Quote
  #51061  
Old Jan 8, 2010 2:18am
ghous's Avatar
<<--(-$-)-->>
 
Member Since Jan 2008
Default

Quote:
Originally Posted by Arya323 View Post
Pinocchio formed in EUR/JPY. Hope I got it right.
Hey Arya,

I don't see a lot going against that bar. Swing high, divergence and a nice long nose most importantly protruding away from the vicinity of the previous bars. (notice the length of that wick extending from the purple ppz on my chart)

However you gotta stay tight on a trade on an NFP Friday before the news release, so given that you can manage your way through liquidity issues the bar lows marked could come into play...probably.

g.
Attached Images
 
__________________
- "It is dead simple folks." <--> James16
Reply With Quote
  #51066  
Old Jan 8, 2010 4:10am
ghous's Avatar
<<--(-$-)-->>
 
Member Since Jan 2008
Default

Quote:
Originally Posted by nasir.khan View Post
A question Ghous.

I have just closed my longs and every thing seems fine on this 4H until price reaches 132.45 (if it brakes 133.30 i think)

but should those big daily bars should be a concern here or i should just keep it simple and evaluate only the current TF.

Thanks.
I would second what SC said,

I also like to keep time frames seperate because every time frame has it's own bars, ppzs, trends and setups...

cheers,
Ghous.
__________________
- "It is dead simple folks." <--> James16
Reply With Quote
  #51067  
Old Jan 8, 2010 4:14am
ghous's Avatar
<<--(-$-)-->>
 
Member Since Jan 2008
Default

Quote:
Originally Posted by smikester View Post
Good post ghous and it is looking even better on the H7 chart and we know we like higher time scales. My H4 feed does not show a pin bar and so I used Arya's post as a "heads up". Thank you Arya.

Attachment 388723

Jarroo introduced me to off line chart odd time periods but I am still not fully convinced that a pin bar on the, say, 7 hour chart is going to give the same price action sentiment as the daily.

Where is Jarroo, by the way?
It certainly will not. Just as the sentiment on the 4H can be very different to the sentiment on the daily or weekly likewise 7h is still a good 17 hours short of the daily sentiment.

Like I mentioned in the previous post every time frame has it's own agenda.

If there's any question as to the validity of the odd "7h" pin bar then I may add that the 7h is just as ok a time frame as the 1h 4h daily and weekly that we are all very familiar with, it's only that the price is chopped a little differently...


EDIT: and jarroo BTW is no where to be found

g.
__________________
- "It is dead simple folks." <--> James16

Last edited by ghous, Jan 8, 2010 4:35am
Reply With Quote
  #51087  
Old Jan 8, 2010 9:17am
ghous's Avatar
<<--(-$-)-->>
 
Member Since Jan 2008
Default

Quote:
Originally Posted by markmm View Post
Hey Guys,

Nice to see the place is still going strong, I used to post here during my 6-7 months researching phase, leanred loads of great stuff here. I was getting my house renovated to was focussing on that for the last 3 months. Plus there was some bad vibes fromt he whole CW vs Jim/Beta forum stage.

With the daily charts I felt as if I could almost see where price was going with this stuff, thanks to these guys (Jim, Mike etc).

However you need to make 0-2 trades a month max from all charts be picky after learning the material and you...
Mark!!!

Great to have you back man.

g.
__________________
- "It is dead simple folks." <--> James16
Reply With Quote
  #51089  
Old Jan 8, 2010 9:28am
ghous's Avatar
<<--(-$-)-->>
 
Member Since Jan 2008
Default

Quote:
Originally Posted by ghous View Post
Hey Arya,

I don't see a lot going against that bar. Swing high, divergence and a nice long nose most importantly protruding away from the vicinity of the previous bars. (notice the length of that wick extending from the purple ppz on my chart)

However you gotta stay tight on a trade on an NFP Friday before the news release, so given that you can manage your way through liquidity issues the bar lows marked could come into play...probably.

g.
What contributes the most to a trade being bad or good or great is the exit.

Thankfully we're not deprived of this essential knowledge here at this wonderful place.

No surprise as to what happened and why, right folks?

g.
Attached Images
  
__________________
- "It is dead simple folks." <--> James16
Reply With Quote
  #51091  
Old Jan 8, 2010 9:33am
ghous's Avatar
<<--(-$-)-->>
 
Member Since Jan 2008
Default

Quote:
Originally Posted by ninreznor View Post
Should we ignore the PB's created by news releases?
I only take into account the NFP with regards to ignoring price action just before and right after the news release...but it's a personal thingy, Mike I think watches out for these times as well, where as some others like STO ignore the nfp completely and trade as normal...

A lot should depend on the kind of trading you do, I would hate to get entangled with anything like this (refer to chart below) during NFP when on intra day, but a higher tf trade with a well guarded SL might see through this...

just do what fits best for you,

g.
Attached Images
 
__________________
- "It is dead simple folks." <--> James16
Reply With Quote
  #51126  
Old Jan 9, 2010 7:01am
ghous's Avatar
<<--(-$-)-->>
 
Member Since Jan 2008
Default

Quote:
Originally Posted by XNAdam View Post
Alright, here's a daily chart of G/U. First chart I've posted, no less!

So I'm thinking that there's a lot of resistance on the upside, but it looks sort of like smooth sailing to the south... So if I were to looking to go short, I'd want price action to give me a signal in the area I've circled(or ovaled? lol)... right? Maybe? heh.

Lots more studying for me to do.

- A.
Nice first chart.

g.
__________________
- "It is dead simple folks." <--> James16
Reply With Quote
  #51129  
Old Jan 9, 2010 7:24am
ghous's Avatar
<<--(-$-)-->>
 
Member Since Jan 2008
Default

Quote:
Originally Posted by XNAdam View Post
Hey thanks ghous.

I've recently become a huge fan of clean charts. I love 'em. I don't see how people trade with a bajillion indi's going on... >.<

Now I just need to figure out what exactly to do with it!

- A.
You have to do nothing at all except lend an ear to hear the obvious.

enough said...
__________________
- "It is dead simple folks." <--> James16
Reply With Quote
  #51130  
Old Jan 9, 2010 7:26am
ghous's Avatar
<<--(-$-)-->>
 
Member Since Jan 2008
Default

Quote:
Originally Posted by triger88990 View Post
you are a bad bad boy nasir

what can I say I'm glad as well that I have meet guys like from this thread.

was to busy with my trades this week to post and I'm catching the latest post

took some losses to but my winnings are outperforming my losses by far

numbers are like flying in my account

wish you the best!!!
Hard work and persistence pays Triger, you've been at it in times when you were all red with SLs...you might want to save this post.

Feel great for ya!

g.
__________________
- "It is dead simple folks." <--> James16
Reply With Quote
  #51160  
Old Jan 10, 2010 6:58am
ghous's Avatar
<<--(-$-)-->>
 
Member Since Jan 2008
Default

Quote:
Originally Posted by Treefingers View Post
Is there anything in the eurusd I am not seeing? To me look like it finished the week just below a prominent s/r zone going back a few years. Also it seems if it does not break through we could expect (if history repeats a fast move south)

When I see charts like this (eu) it appears so easy to read whats going to happen but in reality for a newbie like myself it often ends in a mess.

My trade plan would be (or is I now think) placing a sell order @ 1.4390 with SL 1.4520 & a Buy order @ 1.4540 with a 100pip sl. Both trades with a 100 pip trailing...

When I see charts like this it appears so easy to read whats going to happen but in reality for a newbie like myself it often ends in a mess.

When you see a chart like this (Eu) you can easily see "what's going on".

Mixing the understanding of what's going on with what will happen is causing you the mess.

and that said without referring to any price action signal (which is the only tool we use to somewhat predict what might happen) placing a blind short with no prrior experience of any degree of success you have had with blind trades is like finding yourself in a hole and speeding up the digging process.

A better alternative for a trader at your stage would be to watch the level with the same interest except that you don't short it straight away but rather wait for a nice pin bar or an outside bar to give you a heads up.

PS throw in the 1.43 horizontal line on the daily chart and see how it sums up that "zone" you're talking abt. A blind short order 90 pips above it is not smart which again emphasizes that you need a more conservative approach till you know what you're doing.

cheers,
Ghous.
__________________
- "It is dead simple folks." <--> James16
Reply With Quote
  #51191  
Old Jan 11, 2010 2:48am
ghous's Avatar
<<--(-$-)-->>
 
Member Since Jan 2008
Default

Quote:
Originally Posted by Bocajunior View Post
Hello folks,

A new year, so I thought I would try to get involved here more than I have been.

A 2 day pin bar has formed on EURCAD. I read some posts about a similar formation on AUDCHF and I'm keeping watch on that one as well.

A sharp decline proceeds this 2 day pin and on the break of the pin above there is some traffic in the form of some bar lows.. If it can get above 1,4900, 1.5000 big round number would be a good target.
Here's how I have it on my 2day chart,

at a swing low? yes

at a good ppz? yes

is the bar good looking? NO. Again the nose doesn't protrude far enough to show any real signs of demise of the massive bear run...the equations is simple.

We need a massive pin bar/outside bar to reverse a massive trend.

(That pin bar is far from massive.)

Look at it like this, the greater the volume of water you need to hold the stronger you'll need to build the dam or else...

Attatched also is the Uj daily chart which shows how we like our pin bars working on reversing entire long term trends.

g.
Attached Images
  
__________________
- "It is dead simple folks." <--> James16
Reply With Quote
  #51194  
Old Jan 11, 2010 3:03am
ghous's Avatar
<<--(-$-)-->>
 
Member Since Jan 2008
Default

Quote:
Originally Posted by Bocajunior View Post
Nicely put ghous, Thanks

How do you get your two day charts like that?

Cheers
Boca
You remind me of jarroo...

here's the indicator,

apply it on the pair you want by dragging it on to the chart. "period multiplier" is set by default to 2, so if you hit ok it will work on a 2 day chart, you can set it to 4 for a 4day chart etc.

Next minimize all chart windoes and go to file - - -> Open offline and select the chart from the list,

Enjoy the pips.

g.
Attached Files
File Type: mq4 periodcon.mq4 (15.9 KB, 36 views)
__________________
- "It is dead simple folks." <--> James16
Reply With Quote
  #51195  
Old Jan 11, 2010 3:12am
ghous's Avatar
<<--(-$-)-->>
 
Member Since Jan 2008
Default

Quote:
Originally Posted by Treefingers View Post
I know a few are watching the gbpchf, how does this 8h pin look?

Price currently right on a daily ppz.
It's headed straight into all that mess over head and notice how your trade will be constantly battling all the marked bar lows...

I would have rather liked this current bar to close above the red dash, so that the 8h would show an authoritative 2 bar buob engulfing the previous (8h) bar and also closing beyond some of the immediate traffic. Who knows it might have run to the recent bar highs (lime green line on my chart) but judging from what has happened to it, I would not take this as a 2 bar pin bar take...not that I am recommending anything to you, just passing along my thought process...

Identify the risk involved, measure it's affordability and see what you must do.

cheers,
Ghous.
Attached Thumbnails
Click image for larger version

Name:	gbpchf.gif
Views:	23
Size:	15.8 KB
ID:	389880    
__________________
- "It is dead simple folks." <--> James16
Reply With Quote
  #51197  
Old Jan 11, 2010 4:26am
ghous's Avatar
<<--(-$-)-->>
 
Member Since Jan 2008
Default

Quote:
Originally Posted by nasir.khan View Post
Hmmm valid points ghous.

Not much busy these days???
lol,

Enjoying the semester break from uni
__________________
- "It is dead simple folks." <--> James16
Reply With Quote
  #51202  
Old Jan 11, 2010 6:38am
ghous's Avatar
<<--(-$-)-->>
 
Member Since Jan 2008
Default

Quote:
Originally Posted by PeterPan View Post
Hello Everyone,

I'm off today so I thought I would have a look at 4 hourly trading.

I know you're all busy with your trades, but I'll throw in a question anyway.

With someone new to the business do you suggest following one or two pairs first, getting to know them and then add more pairs?

If so which pairs would you start with?

Or is it ok to have a good number of pairs and just screen them all on a daily basis in the process of learning how to trade?

Regards,

P
What we follow is price action. And this bad boy holds true for every pair, every time frame and every market. So it's ok to add as many pairs as you want specially when you're on the daily and daily+ practicing being really picky and choosing the best of setups out there.

g.
__________________
- "It is dead simple folks." <--> James16
Reply With Quote
  #51208  
Old Jan 11, 2010 9:59am
ghous's Avatar
<<--(-$-)-->>
 
Member Since Jan 2008
Default

Quote:
Originally Posted by PeterPan View Post
I put this trade in today. (I demo)

short term TL with confluence with 618 ret.

PA: 1: DBLHC
2: Break of TBH

Target long term TL.

It is probably a short term trade. But if it breaks the Long Term TL who knows....
That short term TL is invalid,

You can start playing a trend line latest on the third touch, and that is because you need at least 2 occasions where price bounces off a trend line to confirm it's existence.

So removing the trend line you're left with no confluence to match with that trade.

Double bars are best played at swing lows/swing highs with enough confluence factors because as it is they are a weaker price action setup compared to pin bars and outside bars hence the huge confluence and location requirements.

g.
__________________
- "It is dead simple folks." <--> James16

Last edited by ghous, Jan 11, 2010 10:16am
Reply With Quote
  #51300  
Old Jan 12, 2010 6:05am
ghous's Avatar
<<--(-$-)-->>
 
Member Since Jan 2008
Default

Quote:
Originally Posted by Muhammad989 View Post
Assalamualaikum Ghous h r u ? yaar aaj meney aap ki profile check kary tu mey aik dam shocked houa kiyun k meney yahan nasir bhai ko hi dekha tha as paki men mujhey bohot khushi hoyi k tum pakistani ho or karachi ..i hope we will continue here ,

Muhammd
W/salaam bro,

It's good to have more pakis share the gold with us here.

Hope to see you around

g.
__________________
- "It is dead simple folks." <--> James16
Reply With Quote
  #51305  
Old Jan 12, 2010 7:04am
ghous's Avatar
<<--(-$-)-->>
 
Member Since Jan 2008
Default

Quote:
Originally Posted by Ezzy View Post
Hi all

New to this thread. Trying to absorb as much info as possible from many good traders here.

I entered into this trade on demo, hoping that it would meet the J16 trading, feed back is welcome and appreciated.

Cheers
Hi Ezzy,

Welcome to the group.

During your first few months you have to focus on taking only the A+ price action bars on higher time frames and trade them on the break, you did neither in that trade of yours which is fine given that you're new.

Just go through the first 100 pages or so of the thread at least to get a good idea of what we do here.

cheers,

g.
__________________
- "It is dead simple folks." <--> James16
Reply With Quote
  #51306  
Old Jan 12, 2010 7:06am
ghous's Avatar
<<--(-$-)-->>
 
Member Since Jan 2008
Default

Quote:
Originally Posted by Muhammad989 View Post
thnx Ghous by the way how i can contact u ? actually today i was in karachi for interview In Mobilink in shara-e-faisal ...so if u dont mind think about it and give some of your contact i will contact and learn from u ,,,,

Muhammd
Most of the information like Nasir mentioned is right here, but I am always open to personal contact, you can talk to me personally via e-mail or private messages whenever you like.

cheers.

g.
__________________
- "It is dead simple folks." <--> James16
Reply With Quote
  #51311  
Old Jan 12, 2010 7:35am
ghous's Avatar
<<--(-$-)-->>
 
Member Since Jan 2008
Default

Quote:
Originally Posted by dobe_r_man View Post
If it closes like this, it is definitely what I look for in terms of confluence:

1) 2 day pin (assuming it closes as such)
2) Hits pivot area and rejects (though within zone)
3) Hits downward sloping trendline
4) Rejects 61.8 fib as well as 50 fib

Nathan
Nice find Nathan,

Close will be key.

g
Attached Images
 
__________________
- "It is dead simple folks." <--> James16
Reply With Quote
  #51315  
Old Jan 12, 2010 7:52am
ghous's Avatar
<<--(-$-)-->>
 
Member Since Jan 2008
Default

Quote:
Originally Posted by nasir.khan View Post
I don't trade this pair but It's strongly Correlated with GOLD right?
AUD likes gold...

But I don't work with co relations anymore so it hardly matters...
__________________
- "It is dead simple folks." <--> James16
Reply With Quote
  #51394  
Old Jan 13, 2010 1:05am
ghous's Avatar
<<--(-$-)-->>
 
Member Since Jan 2008
Default

Quote:
Originally Posted by johnbaem View Post
hello evryone!

its been a while since i my last post in here.. so many great traders inside.

hello ghous, raczket... u guys still doing KISS.

bdw, i 2nd racs trade BUT on daily EU will tune in 1st for their HH before heading to south.. Watchya margin!
Wow,

Great to see you back O' old timer.

Welcome back.

g.
__________________
- "It is dead simple folks." <--> James16
Reply With Quote
  #51395  
Old Jan 13, 2010 1:06am
ghous's Avatar
<<--(-$-)-->>
 
Member Since Jan 2008
Default

Quote:
Originally Posted by mbqb11 View Post
we'll get Mark to do some more videos one of these days
Get it done by the 18th and you've given me the best Birthday present ever
__________________
- "It is dead simple folks." <--> James16
Reply With Quote
  #51396  
Old Jan 13, 2010 1:07am
ghous's Avatar
<<--(-$-)-->>
 
Member Since Jan 2008
Default

Quote:
Originally Posted by nasir.khan View Post
Ok stopped out. (on a small loss and a big gain)

Stoped out on Gold and Oil also.





Hey Nathan here is anther example for you, keep learning.

.
lol,

nice art man

g.
__________________
- "It is dead simple folks." <--> James16
Reply With Quote
  #51398  
Old Jan 13, 2010 1:13am
ghous's Avatar
<<--(-$-)-->>
 
Member Since Jan 2008
Default

Quote:
Originally Posted by triger88990 View Post
I have notice his absence from here and actually really miss his post,..... aka a good setup is a high momentum break.....

hope he is fine wherever he is now,and hope he will post here again.

maybe he took an extra vacation on holidays enjoying the free time.
I can just about bet he is not enjoying any free time this time of the year,

and this gut feeling makes me feel I gotta throw up

g
__________________
- "It is dead simple folks." <--> James16
Reply With Quote
  #51406  
Old Jan 13, 2010 4:42am
ghous's Avatar
<<--(-$-)-->>
 
Member Since Jan 2008
Default

Quote:
Originally Posted by djmanu View Post
Good morning everyone !
Did someone took the AUDCAD short 2days PB yesterday ?
I did and it seems to retrace to the PPZ, let's wait a little longer
Did it ever break?

I din't see the pb break on me feed at least

g.
__________________
- "It is dead simple folks." <--> James16
Reply With Quote
  #51407  
Old Jan 13, 2010 4:45am
ghous's Avatar
<<--(-$-)-->>
 
Member Since Jan 2008
Default

Usd/Cad 1h.

Nice smooth ride to the first trouble area.
Attached Images
 
__________________
- "It is dead simple folks." <--> James16
Reply With Quote
  #51409  
Old Jan 13, 2010 4:48am
ghous's Avatar
<<--(-$-)-->>
 
Member Since Jan 2008
Default

Quote:
Originally Posted by Treefingers View Post
Anyone else involved in this pair?

I took the buy at 1.6419 so far working out well, I have 75pip trailing stop on it & up approx 150 pips as I type.

How does this trend line look I have drawn?
...invalid.

Once a trend line is broken it should immedietly be removed unless you're looking to play a breakout + retest trade.

The trend line you have drawn has been violated several times...just does not point towards enough order accumulations around the trend line to give it the strength, we're better off ignoring such "median" sort of lines.

g.
__________________
- "It is dead simple folks." <--> James16
Reply With Quote
  #51410  
Old Jan 13, 2010 4:51am
ghous's Avatar
<<--(-$-)-->>
 
Member Since Jan 2008
Default

Quote:
Originally Posted by supremeChaos View Post
are u referring to the red trendline?
what is your basis for plotting this trendline?
price has pierced this TL numerous times. so to some, strictly, this TL does not make sense.
ideally u want a trendline that has no 'piercings' (or has not crossed/breached) on the other side.

having said that, if u project the trendline from the Jan.5(?) bearish bar's high forward, then u have a 'correct' (down) trendline.
however, u want to plot TL's from extreme/swing highs/lows to be more relevant... an example would be plotting a TL connecting the...
You type or what?

you beat me to it man. lol
__________________
- "It is dead simple folks." <--> James16
Reply With Quote
  #51545  
Old Jan 14, 2010 10:43am
ghous's Avatar
<<--(-$-)-->>
 
Member Since Jan 2008
Default

Quote:
Originally Posted by Ezzy View Post
I am really starting to like this style of trading.......what do you know, I may not need to use indicators soon!!!!
Now we're talkin'

g
__________________
- "It is dead simple folks." <--> James16
Reply With Quote