I've gone long - I put in the order before coming back to the forum to see people giving me the reasons not to take it Have to make my mistakes by my own reasoning! I hadn't put this trendline on my chart - may have altered my thinking - let's ...

james16 Chart Thread

Agree with other posters that there is trouble close by. I've been looking at the USDCAD. In a good uptrend - this looks like a pin off the retracement to me? If price can get up to the last high there's nothing but sky above.

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Bet you weren't Don't know about you, but I'm glad I'm making these daft mistakes on demo! I'm real lucky to have found this thread before I just dived into forex trading and blew a few thousand quid - I've heard too many horror stories!

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If you put your stop at the bottom of the pin, then I guess you would be stopped out by now? ( unless you've already taken profit of course! ) I'm in my first few months of demoing, and as you can see in my previous posts, I've been burnt dipping ...

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Was that on a live account? I did the same in my demo back in December by putting on £10/pip instead of £1/pip by mistake. Big loss!! 'BeerSeeker', ha ha, not a bad name - and one which I could imagine becoming more appropriate the smaller my ...

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Cheers Ghous, glad to hear I'm in good company in my early mistakes. And with yourself and Mav, that's two thumbs up for expanding the pairs I monitor. As for adrenaline pumping action - I think it was mbqb11 who said sometime back in the early days ...

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Not sure I knew what I meant either Have watched a few of those videos and plan to catch up with the rest over next week or so. It's all good stuff, cheers

james16 Chart Thread

Thanks for the encourgement The annoying thing is that all of the mistakes I made I have read about numerous times, but they are made almost without me being aware of them. This stems, I think, from second-guessing myself. Should I be trading ...

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Thought I'd mention my disastrous week in the hope it may aid other newbies out there! First three weeks of Jan I was playing only on the dailies, took about 7 trades of which I won three and ended up 230 pips up. For my last week of Jan I decided ...

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Thanks a lot Patapouer for taking the time to dig out those great examples. I think what I should be noticing is the 'swing' into the pin? If this is the case, then yeah, I get it I have a question over one of your examples though - 'rocket ship ...

james16 Chart Thread

Hi Mav, Big thank you again for taking time out to try and explain things to me - much appreciated! So far the most success I have had in trading pinbars is in a sideways market where we have price bouncing between an upper and lower S/R ...

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Thanks for the response Mav, really appreciated Ok - I have a question on your response if you wouldn't mind sparing another 10 minutes! I have come to believe that it's better to trade a pinbar with the trend, as otherwise I would be trying to ...

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EURAUD Another 2 hours or so until this daily bar is finished, but if a better pinbar forms, what are thoughts on a long here? We're with the trend, and the pin is bouncing of a weekly S/R and 38.2 fib. Great to hear anyone's thoughts - my first ...

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My first thought on the GBPCAD would be that I was shorting against a very strong uptrend. I would be worried that the down bar of the DBHLC would have been the only retracement I was going to get before the trend resumed - which is how it's turned ...

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True - I've just started reading Ghous's 'Mastering the Art of Trading' thread, and note he watches plenty of pairs. I guess my problem with adding more pairs is that I feel I am only doing it so I can find a signal and get into the market - ie I'm ...

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I've noticed a lack of opportunity over the past few days on the pairs I watch. I'm starting to get itchy, which is bad as I don't want to be tempted into taking a trade that isn't a premium setup. I think I missed a shot on pinbar on the AUDNZD ...

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Thanks to michal9 and everyone who responded to his Question re. that trade. Found the analysis and breakdown as to why people wouldn't take the trade very interesting and useful.

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Mbqb11 - Thanks for your reply, although there is something funny going on with your link - it opens as a quote in a reply for me... But - to comment on what that link said! - Although trying to stick to a rigid application of R:R as I have learnt ...

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Yes it does, thanks. Averaging R:R across trades makes good sense. There's a lot of subtlety to the methods in trading, isn't there? I can think I'm doing what the many sites and books tell you to do, but still seem to be missing something. Thanks ...

james16 Chart Thread

Sure does. Thanks for taking the time to lay out an explanation. The R:R rule was always one I have found difficult to understand, as it has never fully clicked as to why I should pass up a trade just because a potential win is not going to cover my ...

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