TBN / PATe - my experience/Your FREE opportunity

[KCTiger]

She takes her pivots from Live Charts. In my short experience my take on trading is that you never stop learning, and certainly not if one's trading is inconsistent in any way.

I never close my ears to anything but I also don't suffer fools gladly, as Poem pointed out, my he must like me to follow me so avidly, I did suffer the indignity of being a member of the Pappa C club, we can't alter our past, however that was my first (unfortunate) step into trading, we all have to start somewhere, it lasted a month and I received a full refund from him.

Regarding the paid course, Julie has mentioned that, if there is enough interest going forward, she would consider providing a low cost advisory monthly subscription service. This certainly isn't set in stone but it is something that she's mentioned, which possibly makes it more important, as her service is currently totally free, that anyone that thinks they may have an interest should take the opportunity to try before they buy.

 

[HiArt99]

Took a sell on failure to reach 97.50, and closed above 96.50 for 40 pips. Looking to see how price action handles 96.50 and may look for a re-entry.

Flash: pivots taken from livecharts.co.uk

 

[KCTiger]

I took a double script sell of Nymex at 08:11 at 96.98 off LH's, tp1 was set at 36 pips which I hit at 09:18, on the first sign of HL's above midpoint I shortened my stop on tp2 to lock in a further 22 pips which price retraced to at 09:42, so +58 at the moment

 

[Poem 101]

She takes her pivots from Live Charts. In my short experience my take on trading is that you never stop learning, and certainly not if one's trading is inconsistent in any way.

I never close my ears to anything but I also don't suffer fools gladly, as Poem pointed out, my he must like me to follow me so avidly, I did suffer the indignity of being a member of the Pappa C club, we can't alter our past, however that was my first (unfortunate) step into trading, we all have to start somewhere, it lasted a month and I received a full refund from him.

Regarding the paid course, Julie has mentioned that, if there is enough interest going forward, she would consider providing a low cost advisory monthly subscription service. This certainly isn't set in stone but it is something that she's mentioned, which possibly makes it more important, as her serviuce is currently totally free, that anyone that thinks they may have an interest should take the opportunity to try before they buy.

Wrong answer. Pivot points are calculated using ohlc. What inputs is she using for these given forex is 24hr? 5pm Eastern? Midnight UK? And why does she think these lines have significance? Or are you unconcerned about the rationale behind the tools you use, preferring blind faith to get you through?

And do not fall for this "Oh really? Do you think people would like a paid service? Such an idea would never have occurred to me!" crap. There's a very well-known guru who uses the same line and frankly it's just embarrassing.

 

[HiArt99]

OK, I got bullied off the trade with the retrace. Spotting when it's a retrace as opposed to a reversal has to be the next lesson to learn. I suppose this comes with practice. In hindsight, whilst price was below 97 it was still bearish and I should not have been looking to exit the trade.

I simply missed the re-entries too.

 

[Lord Flasheart]

as poem has said,the point I am making is that how can she use pivots when they cant be truely calculated as the forex markets are 24 hrs. if she is using software that just takes a 12pm start,they are not genuine as they dont reflect the session open, and a session open pivot would not reflect a days trading,so hence hard to see how they can work,and to teach others that they work is misleading. hope you take my point

 

[KCTiger]

Flash, I'm not attempting to be evasive but, as I am only in the early learning stages of my trading education, perhaps your question regarding pivots and their effectiveness in her methodology may be better asked of Julie on a direct basis.

 

[HiArt99]

I could spot 96 blocking down at 13:30 and took a BUY up to 96.50 where there was a previous blockage for moves north. Got +30 for +70 for the day and I am switching my charts off now. For me this is the start of week 4 to all intents and purposes, so I am happy at my progress over this period.

 

[HiArt99]

Due to domestic distraction I missed the entry at just above 99, which would have netted me 35 pips as my exit would have been mid-point after all this meandering. Never spotted a re-entry this morning, and as Oil Inventories has cost be dearly last 2 weeks there will not be any more trading today. No worries, there's always pips (or is that jam?) tomorrow.

 

[HiArt99]

Yesterday was a "sit on hands" day.
Had to go to the Doctors this morning (routine) but consequently missed this morning's move.

 

[HiArt99]

99 offered an entry for a sell which I took. Can't expect 98.50 to break, so I have set my limit order jst above this.

 

[KCTiger]

It's not been a great week for me as, in meandering markets, my patience & discipline have been found wanting (again!), yes Julie I WILL learn! I have pretty much flouted the rules, up until today, with the obvious consequences!

This morning WTI opened as a rule 7, however I had to pop out so I missed the initial sell entry at 99.46 instead entering at 07:59 at 99.23, I also entered Brent at 08:00 at 117.76 at price look to have held below BRN on LH's. Both trades were double script with tp1 set at 36 and tp2 open ended as I felt that both could run past the 100 pip mark. Both tp1's were hit at 10:18 & 10:13 respectively, both also ran 100 pips from my entry, and now I'm wishing that I'd set my tp2's there, however with US open approaching and WTI looking like it was possibly rallying with, what looked at the time, like a push through and possible hold above 98.50 I took the available tp2 pips on both trades, 85 on Brent and 64 on WTI, giving a total for the day of +221. I'm pretty sure that both trades will keep heading south but I'm happy with my pip count for the day and I'm gonna start my weekend early!

Strange how easy, and profitable, this PATe method is when I FOLLOW THE RULES, and my patience & discipline allows me to follow the rules

 

[HiArt99]

Missed the morning move as at the Doctors. Missed the afternoon move as I had fixated on failure to break 100, totally missing the lack of bias change (was still bullish therefore) and the floor at 99.40.

Will have to note that as a lesson learned, and I will not chase the trades this afternoon.

 

[KCTiger]

Messy day for me too, I did get on a buy of WTI at 10.13 above mid point but when there didn't appear to be much in the way of momentum I exited at break even, I then frustratingly missed the big move up on WTI after a hold above mid point in the afternoon session, not a nice day for me for trading oil, hopefully tomorrow will be better

 

[HiArt99]

Took a buy off the second HL on Crude this morning.

 

[KCTiger]

I entered a double script WTI trade this morning at 08:04 at 100.68.

After price had touched but not broken pivot it went on to make new session highs, I entered on the second HL, this was also the second HL above midpoint, giving great confirmation of bullish intent.

My TP1 was set at 36 pips which was hit within 33 minutes, my original TP2 was set at 101.40 but after taking advice from Julie I decided to move it the other side of midpoint up to 101.95, as price moved north through midpoint I tightened my stop, eventually having it as high as 101.38 which locked in my original TP2 target of 70 pips.

As price approached R1, 101.70 on my chart, it appeared to stall, as it was also traditional latte time in London, 11am, I decided to exit TP2 with 79 pips, giving a total for the session of 115 pips.

Happy bunny!

 

[HiArt99]

Darned difficult to read again this morning with the least favourite set-up - a rule 6 buy. Been rangy all morning with no confirmed signals either way, and as Oil Inventories are this afternoon I think I will take the hint and scrub trading today. I feel it is best to be cautious in markets like this. I am sure advanced traders could trade it, I am not an advanced trader, so I wont!

 

[HiArt99]

Painful morning.

Crude was an initial BUY signal but proximity to 102 meant that we needed to see that level break first. It didn’t and a subsequent bias change got me interested in a Sell, which I duly took at 8:30. Way too early as 105.50 had not been confirmed as resistance as that point. What followed was a long painful morning where my stoploss was threatened several time, but I kept in…just. Exited just now as red news at 13:30 for a mere 10 pips.

To compound matters, I took an initial buy just before London Open but bailed out when 1.3000 gave way. On seeing what I mistook for LLs and Lhs under 1.3000 I entered a sell at 08:37. Way too early again as BRN had not been confirmed as resistance as that point. What followed was another long painful morning although my stoploss was never threatened. Exited just now as red news at 13:30 for a mere 10 pips.

Overall breakeven due to lack of discipline and application of the rules.

 

[HiArt99]

Very poor entry this morning that duly got stopped out. Received an email from Julie which indicated my mistake, and that was a total failure to look at the possible reward component of a trade, just fixating on the risk. OK, I know some of you are shaking you heads, and going "utter noobie", well, I am!

OK, a BIG lesson learned today, which I hope to implement in the coming days.

US Bank Holiday Monday, so holiday here too.

I did take a good EU BUY this morning, but allowed myself to be bullied out for an early exit. This is another lesson I have to learn. However, the poor entry on crude (discussed above) almost certainly affected my thinking on EU.

The correct move today was not to play them both together, only the one with a confirmed entry signal.

Been many lessons this week, I hope I have paid attention.

 

[KCTiger]

Yes, a very difficult weeks trading for me, but then I have only been focussing on WTI which has cost me some VERY nice entries on EU, an obvious noob error to the more experienced but at the moment I have been attempting to focus on one chart at a time.

Talking of entries, over the the last year and a bit I have noted many things relating to PA whilst chart watching, HiArt & I have gone on to discuss those very things, as we have again today, however I concur with HiArt that the email that Julie sent earlier today confirms many of the things that we have previously discussed but crucially it gives those things some much needed structure.

Trading wise this has been a pretty pathetic week for me, in no way due to the PATe methodology but absolutely down to my lack of experience, however, trading education wise, it has had an uplifting ending today, confirmation is indeed a wonderful thing!

Why would I risk 31 pips to get into a move that only has a 14 pip ceiling/floor? The answer is not that I'm a numpty (although HiArt will probably disagree ) the answer is that I am learning! On average, from what I've read on forums, I would guess that it takes the average trader three years to become consistently profitable, I would also say that, with Julie's help along with the PATe methodology, that I will cut this short by some considerable distance.

So I would like to end the week by thanking Julie, I realise that patience is not one of her virtues, neither does she suffer fools gladly, however I will say that HiArt & I have very thick skins, we both realise that she says the things she says with the very best of intentions, and I know that I speak for us both when I say that we can take, accept & recover from herr beatings and bounce back, and we will do so until we have this cracked!

So thanks Julie and have a great weekend!