Best Thread Potential setups

[jonj]

Hi jonj,

Well yes . . . and no. Yes in that as trader_dante demonstrates so ably in his Making Money Trading thread and ditto with Newtron Bomb in his forex thread, trading really is quite simple - but it ain't easy. At least, they make it look simple.

i couldnt agree more, its true to say the more you understand the markets the simpler it becomes and hence looks.

It ain't easy coz' it's oh so simple to draw those trendlines and fib retracements and pivots etc. in the wrong place.

thanx for pointing this out.this is the biggest problem in these kinds of strategies. it takes time and patients to draw them correctly with confirmation.but the false breaks dont kill the profits.

(I hope you're not getting what's simple muddled up with what's easy.)

believe me no, in the 5 years or so ( on and of) iv been watching the markets iv not seen anything easy about it!!

Then there's risk and money management and last, but by no mean least, there's one's ego and opinions which are almost guaranteed to totally coke everything up. Or is that just me!
Making sense of all of this so that we perform in a consistent manner day in and day out is the task that we each must undertake.

i again agree totally, but with respect my friend its not related to the setup. this is something every trader has to learn at some point.

If you've managed to achieve this objective jonj, then I take my hat off to you but, for most of us - me included - it ain't easy and there's an awful lot that can oh so quickly go so very wrong.

Tim.

listen i dont even trade a real account so my objectives are hardly achieved as of yet, but look out its your money im after!!

 

[1Pipped]

Hey jonj good to see you matey hows it going, I wondered where youve been.

 

[jonj]

I was actually shooting for option B at the least being able to scalp(or b/e) on what I felt was at least going to be a minor correction in the down trend. I thought it had potential to head to 1.9900, except I really should have paid attention to that next bar which was showing the market's sentiment. When I woke up it was already stopped out.

Look at my chart attached. To me it looks like those highs are steadly declining and what I was shooting for was nabbing the next correction that you can see the arrow pointing to on my chart. It just didn't happen, oh well!

Thanks for the feed back

yeah i agree, you were a bit unlucky but you take the extra risk against the tend so you need to be fast,imo.if im trading 4 h charts i wouldnt trade against the trend:-0

 

[jonj]

p.s havnt seen T_Ds new thread (i assume on f f?) but will read it , anything T_D writes is a good read.hats off n all that

 

[jonj]

Hey jonj good to see you matey hows it going, I wondered where youve been.

hi ye 1pipped,for eg,last week i worked 66 hours.after that its not just that iv not got much time ,iv not got much energy!!!
should be illegal!!
wouldnt mind but im still not rich!!!

 

[1Pipped]

66 hours, jesus, that should be illegal !
get some and then hopefully trap some pips tomorrow

 

[timsk]

p.s havnt seen T_Ds new thread (i assume on f f?)

No jonj, it's a good deal closer to home than that!
:cheesy:

 

[portomar]

No jonj, it's a good deal closer to home than that!
:cheesy:

t_d has a new thread?? unless its about spanish, i demand a link!

 

[1Pipped]

Im watching these, mainly silver.
What do you think of levels like this? its an obvious level but hit a lot recently... maybe weakening ?

 

[1Pipped]

t_d has a new thread?? unless its about spanish, i demand a link!

I think he was talking about the old thread! Making Money Trading apologies if I am wrong though.

 

[omni]

hi yawl,been buzy latley so jus thought id stick my oar in,

it seems nobody trades anything but PBs n IBs or OB!!
im posting my chart of eur/us n us yen jus to show how i view the markets,
i look for price to range in an obvious way,draw lines around the range and simply trade the break(kind of) put that with sup n res, fibs n pivots and trend lines and u cant really go wrong.
pin bars etc imo are great triggers if you understand s,r and pivots and can judge when they are good bars . iv been following these threads for some time now and the newbie mistakes are almost always the same....not taking into account the SUPPORTING FACTORS.these are not graphical trades,they are representations of market sentiment expressed graphically ,but IF you can draw correct trend lines pivots etc it is not always necessary to have a trigger.a timely entry on a trend line break can provide good results also, and maybe an easier way for newbies to start marking the market the important bit is getting an angle on the price to see were it is on the bigger picture (that can also be within the same time frame when trading)
just something to bear in mind imo.

Hi Jonj,
Can you mark on your 2 charts where you bought & sold.
Thanks

 

[Stuart14]

PB's in the past clearly mark turning points but I do think it is easy to brush over the PB's that actually signified nothing. That is clearly where the S/R, fibs etc come in.

I am also trading a break out strategy at the moment, although am struggling with my own rules. I made a lot of money last week trading the failure of break-outs. This week i've given it all back where there have been fakey failures followed by true breaks.

Distinguishing between a true and a fake break seems to be impossible?

 

[jonj]

No jonj, it's a good deal closer to home than that!
:cheesy:

ups, i misunderstood the forex bit.

 

[1Pipped]

Well silver got over the level I had marked, Ive drawn a couple of fibs in, its sort of bounced off the other side but a bit :| so far.

This could be the one weve been waiting for ladies & gents, I am long 30 oz and Ill have enough to buy us all a pint of Guinness if it pays off (assuming there is only 2 of us)

 

[1Pipped]

Did anyone see this today ? I didnt until now, dont know if I would trade it or not, what do you reckon ?

 

[simoncs]

Did anyone see this today ? I didnt until now, dont know if I would trade it or not, what do you reckon ?

I did
But I think that could just have been my impetious behaviour as i hadn't traded anything all day. Wished now that I had put more than 1 contract on, but that's all I allow myself whilst I am still playing/learning with the TD's method.

I liked it as it was the longest nose i have seen to date - couldn't really see any S/R around it though - did I miss anything?

 

[jonj]

Hi Jonj,
Can you mark on your 2 charts where you bought & sold.
Thanks

hey omni,i could but it would be a waste of time,on the usd yen chart for eg.i had one trade,short yestererday got stopped out for a loss today(10821) when i was at work just before that big red hourly candle currently short @- 4)both weak trades and neither would i have entered with real money.that is the very problem,im not often here to catch them.BUT when i am i often trade trendline,range breaks and they work.how do i trade them??i assume this is a bit of a challenge omni judging by your knowledge of trading and im not about to rise to itinnocent:i enter a position when the candle that breaks the line is either obviously broke( which is why i draw my,what i call.my tradable lines from the shadows not the close.you will miss a 3rd of the price move many times in hourly tfs waiting for the candle to close.OR i sell the break(in case of shorts)of the low of the previous swing low within the pattern.for eg,if the lets say triangle break is only ten pips or so from the previous swing low i will wait for the previous low to be taken out for confirmation.
of course theirs them pivots n fib to work in but thats the commen sence trading bit no??
then theirs the other side ...trading WITHIN the ranges. that can be profitable also.pins n stuff are great for this. im currently short us cad,hoping for a 20 pip trade before bed!!

 

[jonj]

Did anyone see this today ? I didnt until now, dont know if I would trade it or not, what do you reckon ?

eazy pip,nice pin,nice long nose and i think you could have had your stop just above the fibs instead if above the nose n potentially saved a few pips?? mind you,i might have to call myself 10 piped:whistling

p.s. if you take the fib lows from the previous low(24,7)that pivot you marked was backed up from two 38%fibs AND a 50!!that would have been a nice break to catch!!

 

[jonj]

p.s i was already short from the nite before(199.44 - 198.33)

 

[jonj]

hi yawl,nice pin on oil hourly chart. taken off nicly for now but heading straight into multiple fibs,lookin for a break of 124.00 to be comfortable with this.