6-8% is very high based on your experience, and in general I would never trade more than 3% ever.

james16 Chart Thread

Hey Alb, Hows it going, used to see you in the J16 thread, this seems like a great thread for PA also, I like the focus on one pair (mainly). Really getting a feel for a pair must add a big boost to choosing good setups.

Trade what you see NOT what you expect

I thought he meant if you left the trade on the most profit you could have gotten if you choose the exact point it reversed and hit your stop.

james16 Chart Thread

Ok no worries, I would always say to someone demo on the smaller timeframes, after proving it on the higher ones. I mean Jim, Mike etc all trade the lower timeframes so they are not bad, just require experience and skill.

james16 Chart Thread

I'm not aggressive just debating, I don't see the point in looking at max trade ran as it is very difficult to judge exactly when price stops and reverses. The best you can get is a percentage of the max trade ran. Also im not saying to just jump ...

james16 Chart Thread

yeah im trying to see if I can get a runner here, hopefully it will hold as support, nice inside bar forming might break out before week end. At this rate Ill be rich by the time Im 200 lol

TAC's Paology Journal

What use is looking at Max trade ran? its an idealistic figure that you will never achieve. You can build an account on dailies its just going to take much much longer.

james16 Chart Thread

Totally right, sure start on the higher timframes or stay there id you have a big account, but if you want to compound fast you need to move down to 1hr or lower.

james16 Chart Thread

I never said you cant build an account, it will take forever to take 500 bucks to 100k using only dailies, not many will have the patience to do this. Once you are at 100k then fine dailies becomes the obvious choice.

james16 Chart Thread

Technically I suppose you can do it, maybe over 10 years. 2k account 20 100k with 4% a month for 10 months a year will take 10 years. Once you get there then sure it starts to accelerate. Its the 10 years to get from 2k to 100k that very few will be ...

james16 Chart Thread

No not at all. I think dailies are good for big accounts and learning pa, but for account building, dailies alone do not produce enough opportunities to compound. If you are going to add to your account that's a different matter. Luckily PA works on ...

james16 Chart Thread

The problem with trading dailies is you will never build a small account up just trading them, there are simply not enough trading oppurtunites, for account building you need to get down to 1hr or 15min charts, where you can get trades every day. ...

james16 Chart Thread

I notice on EO charts that he has some horizontal s/r levels. I am guessing these are previous days high and low? What are the level 2's? Regards Mark

Trade what you see NOT what you expect

Ok no worries, glad you explained it in more detail as candlestick patterns can be a useful tool just like any price pattern.

james16 Chart Thread

You said candlestick where overrated, candlesticks are just patterns like bar patterns all price action. Anyway I agree that using these things with out looking at context will not work.

james16 Chart Thread

In fairness though if you read any books from the source (Nison) he explains to use them at S/R or with other indicators. You could easily say the same about pin bars etc, if you just play them blind they will fail a lot of the time. They are all ...

james16 Chart Thread

Thanks John, It is helping me keep disciplined also. Here is an update on my OB on AUD$. It has retraced to my entry point, which was just below a minor price flip. If it can hold then I think we are in for further downward movement. Will keep my ...

TAC's Paology Journal

Thanks

Trade what you see NOT what you expect

MA settings — Hi Guys, Where are the final MA settings, are they the ones in the PDF? Thanks Mark

Trade what you see NOT what you expect

Ah ok, guess Ill start with cable, before going to the others, better to get married first then get the mistress, otherwise its too complicated.

Trade what you see NOT what you expect