Phillip, Thank you for your response. I've followed some of your threads - particulary the five minute intraday strategy which I have used with some success. I really respect what you are doing as a teacher and trader so it's a privilege to have you ...

How to draw trendlines

The other trader avoided telling me where I was going wrong and simply said that the lines seemed to be working for me and "if it ain't broke, don't fix it". Still, I would really appreciate any insight as to where I am going wrong here. Thanks, Tom

How to draw trendlines

Here is my Technical Analysis for the Bobl.

How to draw trendlines

Here is my Technical Analysis for the Bund.

How to draw trendlines

I know this is not directed at me but I'd like to answer. I don't think one becomes a trader to escape working 9-5. When I left work to trade my own account, I went from working 9.30 - 5.30 to working from 6am - Midnight. I can honestly tell you ...

james16 Chart Thread

Aidan, Second place...Way to go! Check out MichaelFX - he was bottom with a 9.29% loss...now, just two days and 71 trades later, he is in third position with a 1.98% gain!! bhubiz way out in front though...

Competition

And now look what we have here... Crude Oil Daily. Pin bar off the 38 fib and the 21ema. I think we could be about to resume the downtrend...

james16 Chart Thread

Update on Crude Oil The number of points on offer here was limited. But the market certainly gave some signs on the hourly that the upside potential was limited. Two PA setups in particular may have caused the traders that monitor their positions ...

james16 Chart Thread

Hi x2012, This is not a DBHLC. The close must be LOWER than the lowest point of the previous bar. Tom

james16 Chart Thread

Gilt - June Future - 1 hour — Hello x2012, I've posted a chart to show you how I would play these different setups. As you can see, trading off of just PA alone with almost nothing else would have been hugely profitable here. For ease of use, ...

james16 Chart Thread

Hi Kingskids, This is just a TBL. To be a DBLHC, the close must be above the high of the previous bar. Tom

james16 Chart Thread

Hello x2012, My understanding of these patterns is that DBHLC is a setup to go short. Conversely, the DBLHC, is an opportunity to go long. (remembering to look for confluence to support the trades) The two lows or two highs of this pattern show that ...

james16 Chart Thread

How many reasons can you find to take a trade? — Crude Oil IB4 (slightly out on this chart but it is one on the chart I trade off) This occurs: a) On a bounce off the 150 AND the 365ema which are almost on top of each other here providing VERY ...

james16 Chart Thread

Gohrayson, Firstly, NEVER let anyone tell you that you cannot do something. If you want this enough, you will succeed. Learning to trade takes a huge amount of time and effort. It can be a long, painful and frustrating experience but the rewards are ...

Advice & Opinions appreciated

Hi Raz, Yes, I would play these on a straight break of the low. Also, if that low coincides or is VERY near a strong TL or fib level etc, then I would wait for a break of that area too. I personally like to have a larger stop at smaller size when I ...

james16 Chart Thread

Without being pedantic, I would say there is an important difference between: a) "not minding" about the higher risk, which in my opinion is one of the single biggest reasons for failure among traders and b) not having an opportunity to take less ...

My Journey to a $1,000,000

Razl, I wouldn't look to sell just because it's hit the s/r area and a key fib level - I would now look for PA to confirm a possible reversal. This is not present on the daily bar so you could drop down to lower time frames - 4hr or possibly 1hr. ...

james16 Chart Thread

Is that a realistic goal? It seems very high to me! I don't mean to be negative - I am a firm believer that you should NEVER let anyone tell you that you cannot do something it's just I don't know how sustainable this would be over the long run...

My Journey to a $1,000,000

So many of these pins work that I often forget it's natural to get the odd losing trade. This one looked good too - it's Royal Dutch Shell (FTSE 100) Pin bar at a swing high (3 candles back from most recent) It hit the 61 fib level dead on and after ...

james16 Chart Thread

Ah, well I am inclined to agree with Richard Dennis, the legendary trader, when he said that he could publish his system in the national newspaper and still most people wouldn't be able to make any money with it.

How to profit from your broker