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#121  


 








07-17-06, 7:24pm
















clam61



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it has retraced more than 61.8% from the top of the pin to teh latest bottom...is this pin signal still viable?



































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#122  


 








07-19-06, 9:05am
















clam61



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ouch, im really eatin it on this one. i hope i dont abandon this for a 100 pip loss only to have it go my way later!

anyone else on this?



































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#123  


 








07-19-06, 1:12pm
















The Wizard of Oz



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Quote:





Originally Posted by clam61


ouch, im really eatin it on this one. i hope i dont abandon this for a 100 pip loss only to have it go my way later!

anyone else on this?




I had an initial target of 40 pips but thought I'd let it run
only to get stopped out at breakeven. I moved my stop to breakeven at
30 pips. I am not sure if that is the best approach though. I am not
that experienced with Jim's price action stuff.

Exits are my biggest problem. Any advice Jim?

Wiz.







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#124  


 








07-19-06, 10:35pm
















habeeb



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Quote:





Originally Posted by The Wizard of Oz


I
had an initial target of 40 pips but thought I'd let it run only to get
stopped out at breakeven. I moved my stop to breakeven at 30 pips. I am
not sure if that is the best approach though. I am not that experienced
with Jim's price action stuff.

Exits are my biggest problem. Any advice Jim?

Wiz.




Hi TWOZ,

I mentioned this to Snuffle a few days back too. Why don't you try
taking half (or part) profit after 30-40 pips, and move your stop to
entry. This way you'll be taking something from the market everytime
(which adds up), even if the remaining positions gets stopped out.

Take Care
Habeeb







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#125  


 








07-20-06, 12:30am
















eastmaels



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Quote:





Originally Posted by habeeb


Hi TWOZ,

I mentioned this to Snuffle a few days back too. Why don't you try
taking half (or part) profit after 30-40 pips, and move your stop to
entry. This way you'll be taking something from the market everytime
(which adds up), even if the remaining positions gets stopped out.

Take Care
Habeeb




Hi habeeb,

Sorry to butt in..

This idea crossed my mind before and I'm still considering it...
However, my initial reaction is - the Knife was not designed to take
profits after 30-40 pips. So I think one may be destroying the edge if one does this.

This again is my opinion right now. I think if one will take those
30-40 pips into profit, one must have significant experience on when to
take those profits...

Sooo, I don't know if it's a good or bad idea.. Or if I'm making any sense.. LOL..
But yeah, this idea passed my mind too before.. But I'm not
implementing it right now. Maybe when I get significant experience with
the knife and take some profit early when the move doesn't look that
strong or good.

I have the feeling that I'm saying the same things over and over again.. LOL..

Regards,
East

P.S.
I think TWOZ isn't trading the knife here.. LOL... I think I'm having too much knife.. Sorry Wiz..

Should I just delete this post or move it to the knife's discussion?
Will decide later.. got to go..










Last edited by eastmaels : 07-20-06 at 12:43am.

































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#126  


 








07-20-06, 12:52am
















clam61



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im
starting to play around with the 1 hour tunnel method. although the 4
hour tunnel is touted as a better system by vegas himself in the 4 hour
tunnel docs, in his latest writings vegas says he is using the 1 hour
tunnel to trade!



































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#127  


 








07-20-06, 7:06am
















The Wizard of Oz



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Getting there mate



 



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Quote:





Originally Posted by habeeb


Hi TWOZ,

I mentioned this to Snuffle a few days back too. Why don't you try
taking half (or part) profit after 30-40 pips, and move your stop to
entry. This way you'll be taking something from the market everytime
(which adds up), even if the remaining positions gets stopped out.

Take Care
Habeeb




You are right. I should have done that. I do that sort of thing
all the time with the knife but haven't really traded pure price action
before.

Thanks for the advice.

Wiz.







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#128  


 








07-21-06, 5:24pm
















clam61



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man
this pair is tough....jsut when i think im home free it zips back up
during my blissful slumber! it bounced off of the weekly midpoint

it didnt make a new high and it seems to be consolidating, so i hope this is its last exhaustion move.

i covered a part of my position at 1.354. from its current position i put a sell stop order below the 50% retracement



































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#129  


 








07-24-06, 9:12pm
















Taos Mountain Trader



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4hr pin bar on USD /CAD






I just noticed a 4hr pin bar a short while back on the CAD
does this look like a good setup for a short trade.

Any opinion on what to expect from it . ?

any ideas welcome.

thanks

R







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#130  


 








07-28-06, 1:30am
















jotty



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Would that qualify as a weekly pin bar if it closes right now?
At confluence with the 61.8% retracement too










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#131  


 








07-28-06, 2:48am
















Snuffleupagus



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Quote:





Originally Posted by jotty


Would that qualify as a weekly pin bar if it closes right now?
At confluence with the 61.8% retracement too




Looks more like a neutral bar. Open and close are around the middle.



































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#132  


 








07-31-06, 9:59pm
















Colbolt2



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usd\cad






Would the form consider this a pin bar that is begging to be played?

I would think that a long position with a TP at the 61.8 would be a professional trade

This pin bar is as good as it gets, is it not?











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#133  


 








08-01-06, 1:10am
















Snuffleupagus



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The
pin looked good to me so I already put in a buy stop trade. The top of
the pin was already tested today and it didn't break. The last time the
price was that low was July 10 and the low was tested on July 11 and
held.

I do see a very long upper trendline on my chart that is below your 61 fib.



































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#134  


 








08-01-06, 1:15am
















Colbolt2



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I do see a very long upper trendline






Mr.Snuffleupagus
You wrote:
"I do see a very long upper trendline on my chart that is below your 61 fib. "

Ok, I am going to see if I can put together this upper trendline that
you speak of. Lets see if I can get this. I 'll be back in a few.

If I don't get it, might I ask that you post a picture of your chart so that I can compare?

Thanks
Dave



































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#135  


 








08-01-06, 1:32am
















Colbolt2



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Snuffleupagus,
Ok, I risk showing my ignorance here, but here it goes.

I wonder if the trade might not bounce off the 38.2 fib line and proceed long. That is my concern.

I may have pulled the trigger on this a bit early, but should be able to recover with out to much sweat.

Are your trend lines/fibs similar to this?

Thanks again,

Dave












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