True, I see what you are saying now.

USD/JPY Discussion

It's only one snapshot of the market. The other time frames tell a different story. For example last week was an inside bar. Daily tf has been making lower highs/lows etc etc.

USD/JPY Discussion

Worst slippage I ever experienced around news announcements was over 40 pips. $1,600 a pip x 40 = > $64k....ouch!

james16 Chart Thread

Refreshing thread — Refreshing thread I see so many posts where people assume that if they trade for x amount of years profit will come through experience. Like it's a given. The market does not care about their assumptions. My testing also ...

I never proved anything

As I said before I have backtested this already (as you suggested moving stop to break even after approx 70 pips) and it just hurts bottom line as far as I can see. If you want to trade them this way it's your money. cheers

james16 Chart Thread

Jaroo You obviously have a great talent capturing moves like that. I only post my examples because I do not think this is as dirt simple as Jim says...other Jim :-) The only problem for average Joe in taking profits so early is that one full stop ...

james16 Chart Thread

Hi Mike What about this one? No traffic and nice nose. cheers

james16 Chart Thread

If you put your stop at break even, on daily charts, every time it moves 70 pips in your favor on a pair like EURJPY (average daily range in excess of 150 pips) you will cut most of your winners dead. Backtest it as I have to see for yourself. ...

james16 Chart Thread

Update to my last post. Price broke the pin and moved approx 70 pips to ultimate high for the move. Stop loss was approx 230 pips if below the pin. If trading this in the simplest way recommended (break of pin high with stop loss below) it was ...

james16 Chart Thread

True. This theory could also be applied to the overshoot of the 1.4900 resistance. If price is > 205 pips higher in 5 days we will have something resembling a two month pin bar.

james16 Chart Thread

EURUSD gave a BUOB a few days ago which hasn't been negated yet so I personally would not trade against that bar by shorting. NZDUSD gave a much better pin bar long which was at a swing low so I also would not trade against that. Dollar strength has ...

james16 Chart Thread

Igrok I would like to thank you again for this great thread. I hope you don't close it too soon as per your previous post. spasibo za vashe vremia

Igrok Method. Q's & A's. Comments, thoughts and ideas

EURJPY hasn't responded so well to the last two pin bars. Third time lucky maybe? I won't be taking it so maybe it will be a great trade :-) I agree that the NZDUSD long does look promising as a long term hold

james16 Chart Thread

Don't be depressed, life's too short :-)

james16 Chart Thread

Hi Igrok Would we not be looking for this to continue north as it broke to the upside? I see that the profit targets in your book are based around average daily range and end of day so would you typically take profit at the weekly equivalent as this ...

Igrok Method. Q's & A's. Comments, thoughts and ideas

Yes obviously only a fool would think they could have a 100% win rate :-) Consistently winning as a trader means making money over a long period of time in my eyes. You can be the most disciplined person in the world and still are not neccesarily ...

james16 Chart Thread

hi permanentjaun IMHO it is much harder than most give it credit for. This is not just from my personal experience I have seen traders who have been doing this (J16 style) for a long time still trying very hard to consistently win using the ...

james16 Chart Thread

When to exit a trade is certainly one thing.

james16 Chart Thread

Can you post a chart please?

Igrok Method. Q's & A's. Comments, thoughts and ideas

Hey Seeking :-) Hope all is well with you. Sorry don't quite follow you here. I'm with you now. Absolutely. I do have rules that I apply to my trading. So, if we do say 1 year on demo and take only the best bars we could be working on an assumption ...

james16 Chart Thread