Those are nice numbers, but they are pretty unrealistic. You cant just say that daily bars offer 1:7 and 5mins give 1:3. I took a quick look through my trading log, and I couldnt find a single daily setup that I took with 30 pips risk. It was closer ...

james16 Chart Thread

I know you got alot of heat for this, but I agree 100%. I probably wont ever trade as a replacement for my day job. Mainly because I love what I do, and I dont have $250k in capital... being poor sux I treat my trading like I treat my poker. I ...

james16 Chart Thread

No, you are right - I guess, technically, it would be some kind of island reversal pin crossbreed. But, to me at least, it says the exact same thing. Especially on a gappy instrument like soft futures. So I would be comfortable trading it as a pin. ...

james16 Chart Thread

hey, its all good. as long as people are thinking about what the chart is telling them and why they are trading, they can use astrological tea leaves for all I care *edit* So we have an actual chart on the page, here is something I have been ...

james16 Chart Thread

I said candlestick 'patterns', especially the more esoteric 3 and 4 bar setups, are too abstract to be of any real use. I said people, especially new traders, look for the patterns and dont understand the underlying movements, but assume they dont ...

james16 Chart Thread

That's not really what I said at all.

james16 Chart Thread

hey now, its eleven am on a tuesday... I wont be drunk for *at least* an hour My girlfriend pulls a gun on me No, I completely agree. A bar chart or a candlestick chart are both just an abstraction of price, so they really tell you the same ...

james16 Chart Thread

Superninjamegagodzilla candlestick pattern!@# — I love candlesticks as much as the next guy (possibly moreso - look at my reading list from a month or two back! ) but I think I should throw out a word of caution here. Candlestick 'patterns' ...

james16 Chart Thread

It broke first, its the stronger pattern, and I get a much tighter spread with my local broker Actually, I dont see the two as mutually exclusive. I will probably take the 2d USDCAD as well, depending on how hard it breaks south. *edit* actually, ...

james16 Chart Thread

I do, sorry if i was unclear. With the stuff here, people should be able to clear 25% a year, taking only a handful of a+++ setups a month. I only touched on it kinda briefly, but there are a world of reasons that it is practically impossible to ...

james16 Chart Thread

lol, I have to. Otherwise I tend to do stupid, impulsive things and if I do, at least I have a clear record of what stupid things I did so I dont do em again

james16 Chart Thread

Trade - 20090813 - AUDUSD D1 pin bar Nose - 0.8178 Break - 0.8369 Length - 191 pips Positives/Confluences long nose, nice form, with trend, nose just touches 38.2% retracement of previous upwards move Entry (long) at 0.8380 Stops 0.8325 - 55 pips - ...

james16 Chart Thread

Looks hot to me (esp on a white background ) Length of pin sux a bit (i hate drawdown), but it is with the daily and weekly trends, and is a nice lil retrace of the last upward movement (almost to the pip!) and roundtripped through a strong PPZ. ...

james16 Chart Thread

Yeah, my Irish background is what gives me my lovely disposition and temperament I should probably alter that quote though - negative asymmetric returns are a bitch. Positive asymmetric return profiles (small downside, big upside) are exactly ...

james16 Chart Thread

Oh, definitely. If only more people thought like that, they wouldnt be putting 80%+ of their money on every trade! If you sit back and wait for the good trades, and take just two 2% risk trades a month - even if they each only go to 0.5R, you have ...

james16 Chart Thread

Technically, it is an outside bar, by some definitions... but I wouldnt take it. Ever. If anything, it looks more like an indecision bar, representing a pause in the downward trend (notice how price barely changed) This page from last week has some ...

james16 Chart Thread

Nicely played, pretty much textbook picture perfect.

james16 Chart Thread

The 'rule of 72' is just an estimate. It doesnt work as well when you use big numbers or long periods. Once you get outside 5-9%ish, it breaks down. Rule of 69 is a better estimate, although it also breaks when you start getting into 'what is my ...

james16 Chart Thread

Ej 4H pin last night url although it looks far cleaner on this guys feed. url ---------- I see something tasty cookin up on the loon. 2d pin with the trend through a PPZ, and bouncing off the 38.2 retrace of the last swing down. Its a big ...

james16 Chart Thread

EJ — I do love it when the market reads this thread and does exactly what it is supposed to I set my stop to b/e (136.30), went to bed, and woke up to 105 pips. Got kinda lucky when it missed my stop by 8 pips, but I can live with it. ...

james16 Chart Thread