Doesn’t his dog look good for being nearly 20?? Our last two were both burying bones in the sky by age 12 :17:
And as for the mannequin, do you think he ever…no…surely not??? BBllllaaaaarrrrggggghhhhh.
Yep thought so… dont like the early indications on the 4h or daily… so closed out. Provisionally short off 1.28077
Glad to see the pub doing to well we had to expand to a second floor. Cant wait to see what comes of it. I will try to add what I can but there are some great traders in these doors I would like to learn a few things from
Bath time, what’s happened to it eh?? Bath time used to be a time where a guy could go and relax, just forget about the women he lived with and dream about…well…women he DIDN’T live with. But I’ve just been in the bath and do you know what I was thinking about? Eh??? (Don’t you just know the moderators are just sitting there trembling right now with their collective fingers hovering over the “DELETE” button in anticipation LOL)
Well let me tell you…SCREEN-NAMES no less !! What’s the best, or funniest FX screen name you can think of? Now granted some of you may answer that you are already using the best, or funniest, screen name you could think of, and I guess that is fair enough.
But if you had to pick another screen name, what would it be. I’ll start us off, I’d be;
Jack The Pipper !
Still waiting for someone to serve the patrons of the second floor of the traders arm with a brew that hopefully delivers a 100 pips or more!
Reading Hog’s preamble I think he’d prefer if we didn’t post trades on the ‘second floor’ without reasons for so doing besides price action. Sadly, that rules me out! Same reason I have been absent… re stops (present subject) as mine are always set on PA high or low point of a correction or swing and not on S/R. As the second floor is primarily a teaching room for ‘established practise’ I fear any comments I might make will have a detrimental effect. But following along with interest!
So your looking for the next 100 pip move… so what was wrong with EU at an entry of 2765 today then? 
EDIT: Just opened an EU short @ 28597 as I’ll be in front of the monitors tonight… see if I can bag a few pips during quite time? 
RC, I don’t think HoG wants to keep the 2nd floor only for S/R trades, just explain your reasons and I bet he will be OK with that
RC I have to agree with Yunny I dont think HOG is reserving the thread for basic S/R but moving through all different aspects of trading. Besides I am sure we would all like to pick your brain and see the methods to your madness 
If it means anything, i also would like to vote with the majority here to see you share your trades… Your way of picking highs and lows, and being able to ride a daily range to its top / bottom and then scalp further pips at the end of the move has always had me trying to see what you see! lol
I’m going to just go out on a limb and ask - if you dont mind…
What did you see there that made you want to close your position - or should i say what didnt you see that would have kept your position on longer?
Cos i know when i saw that post i stared at my 4H and Daily for some time trying to figure it out LOL!
Mr Carter, I certainly wouldn’t dream of starting a thread that would knowingly count you out, in fact, you’re one of the guys I hope DOES post.
Point of the thread though is just to start from the start, picking the basics, discussing the various ways ways they are used and then letting each individual learn to use them the way they see fit.
If you use your stop in a different way from placing it the other side of S&R, I think that would be a most valuable contribution to the thread as an example of a different style of trading with stops.
Obviously it goes without saying that I’m not asking you to give away more than you are comfortable doing, but it would be great to learn about your criteria for setting stops.
I just started with the subject of stops as it’s probably the first thing any new trader should learn about. I’ll move on to S&R next, as I see that as the next step, however more experienced traders like yourself may disagree. You may feel that a different subject should be learned first, and if so I’d love to hear about that. But if anyone DOESN’T use S&R in the “traditional” way, that too would be an excellent addition to the thread.
And anyway, how could the Trader’s Arms possibly continue without you? The very thought would just simply be sacrilege man LOL!!
Ah… that’ll mean posting another one or two ‘new fangled charts’ … you realise I’m a confirmed Ludite of course! I’ll see what I can do. In the meantime, I use two principle methods of trading. Conventional Price Action without 'indi’s and another that is way off the norm. The first … PA, is the trade your referring to that I took. When PA trading I don’t use candles but line. I also use multiple TF’s 1h, 4h, daily and weekly. Now I can simply look to the weekly (for instance) and take a trade of this TF alone, as was the case on my EU long @2300. But these trades by definition don’t come along everyday. You have to wait it out and enter only with a clear signal i.e. a solid rejection and reversal of price. This can be better judged using multiple TF’s but because I’m a correction and swing trader, Ill never consider going below 1h and frankly, even thats too fast for me but helps point an early indication on the 4h and/or daily.
When using ‘line’ instead of ‘candle’, I’m looking for a ‘V’ or inverted ‘V’ signifying PA doesn’t like this level and is rejecting. Say this was the case on 1h. If its a pronounce and sharp ‘V’ and a time of the day with high volatility, I’ll be interested. Either to get out of a trade say on the 4h or daily or to get in on a new trade. Although in all probability, I’ll wait for secondary confirmation on the 4h before entering the trade as I did today on the EU upmove.
Pic1, 4h EU chart… first circle, is where I closed out my EU long and went short. Circle two, is where I closed the short today and went long. Green dotted line is price.
Pic2, 1h EU chart… is where were at now.
Cheers! Hog… in answer to stops, initially like Yunny I’ll use an OMG of never more than 1% of account balance just in case theres a big spike against my entry. If and when the trade goes my way some I’ll then place it nearer and nearer to BE comencerate with PA until its at the high of the ‘V’ or inverted ‘V’. S/R I’ve never really got on with… its abit like 'indi’s… too vague for me. So for the meantime, I’d best stay on the first floor and sup all the beer and chat up the women you’ve so kindly left behind? LOL!!!
Well since we are sitting on the bottom floor supping beer, let me throw a story at you which has just appeared on the internet.
It would appear a Mr Eavesham has placed an advert in a newspaper which reads;
[I]“Can you believe it? My Income Tax return form has just been sent back to me because in response to Question 4 - How many dependents do you have? I replied - 2.1 milliion illegal immigrants, 1.1 million crackheads, 4.4 million unemployed scroungers, 900,000 criminals in over 85 prisons + 650 idiots in parliament and the whole of the European Commission.” They have told me this is not an acceptable answer – So what the hell did I miss out???[/I]
Also, purely for the benefit of a thicko like me (you are free to disagree with that comment as soon or as often as you like…No I mean it, don’t be shy LOL ) can you tell me the difference between price forming a S&R level and a “PA high or low point of a correction or a swing”
Second point is “established practice”. When you first started out, did you begin with established practice and evolve into the methods you use now, or is this the way you have always traded. I only ask this second point because if your trading methods HAVE evolved from established practice then you are probably more of an asset to the 2nd floor than most people.
Although that said, if the beer and the women are downstairs, no wonder you are reluctant to move. LOL
Actually RC, I’ve just came up with another question. I’ve just put up a 4H line chart and the same as yours it shows 3 lines. Ih one is price, what are the other 2? Apologies if that is a daft question.
I’d dissagree! LOL First point…Often times an established S/R and a new PA reversal do not match up and becomes a new S/R or your looking for historic areas of S/R, right or is it just me? LOL This is why I largely ignore S/R.
Second point… like I would imagine almost everyone does, I started out learning the basics. I’d strongly argue you need this grounding and screentime to infact ‘tweak’ your trading to your own take. I spent years for instance learning all the indicators only to evetually chuck them in the bin. But how could I come to that personal decision until I’d tried them all? LOL
Ah… you probably have a middle line which is price and a high and low line (where price has been). Your on FXCM right? Right click mouse on chart and go to ‘chart mode’… you can deselect high and low lines if you want
Green line on my charts is price without high and low line. The other two are not, nor are they ‘indi’… more I’m not saying! LOL!!!
Thank you for disagreeing…I knew(hoped) you would LOL! Now let me skip to your second point as I can’t think of an argument against your first point
There are several good threads on this forum led by, and frequented by, experienced traders who very kindly share their time and knowledge for free. They are indeed to be applauded for their efforts.
The trouble with some of them, I found at least, is that as a beginner you go from nothing and all of a sudden you’re plunged into a world of COT reports and Fibo something and you don’t know who you should be supporting or whom you’re meant to resist, if you’re meant to resist them at all!!
Sometimes it can be a bit confusing, and yes I appreciate that it is a thing ALL traders must go through, but that doesn’t change the fact that it is confusing nevertheless.
So that is exactly the point of the 2nd floor. To baby step through the basics from a beginner’s side of the story, hopefully nudged along every now and then by a voice of experience. That IS the point of it, the education more so than the trading, if that makes sense.
I’m more than happy to run up and down stairs between here and there to talk about education, trading, cross dressing etc…just do me a favour and pop up every now and again, you are on a very short list of people I truly admire on this forum, your input is always very much appreciated.
And you know Glasgow doesn’t do lip service very well mate so I mean every word of that last part 
That said I’m going to bed now, these bloody stairs are killing me. Why didn’t we make the Trader’s Arms a bungalow complex???
Hi/LOW lines deselected now, thank you. (yes, FXCM)
Don’t worry, the beer and the ladies will loosen that tongue eventually LOL.
Goodnight RC, talk later.