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Where can I learn more about Price Action like those in James16 charts? 9 replies
DislikedHey FF
Happy new year. I think you should find a time scale that fits your schedule but without forcing things. For example if you can't watch the daily charts each day then don't try to do it and have it effect your trading. instead consider moving up to the weeklies/monthlies where you will need even less screen time and thus be able to trade but also juggle the other important aspects of your life.
Best of luck this year
MikeIgnored
DislikedIn my oppinion by trading on a weekly basis you dont gain experience as fast as you would trading daily/intraday simply because you dont take as many trades so the learning progress will take longer.Ignored
DislikedHey Dave
Obviously everyone learns differently but I have actually found from teaching and helping other traders for awhile now that the complete opposite is true. Most think by trading more that they learn more but the reality is by actually doing the opposite and really focusing on trading less and doing less one progresses further. Again this is a general statement based on my experiences helping others that most think what you said but that in reality actually prevents them from learning and progressing further
An interesting business...Ignored
QuoteDislikedHey man, after having a few brief conversations with 2 PRO traders, they all preached what jim has been saying since the earlies.
Overtrading kills accounts. THEY CHERRY PICK TRADES, 1 guy saying 1 trade per month was good enough. He mentioned that we are trading for profit, not excitement. Man i could ramble on for hours. That aside, after a few years i am finally profitable consistently. Just wanted to say a quick thank you for keeping the traditional price action trading going. With that said, look forward to seeing more of my posts in here,...
Dislikedbearsh close today ,confirms wick at 136 pips through major area
Take a look at weeklyIgnored
DislikedThanks Pinbar! Thats a great quick reference chart .
Happy new year to everyone!
I came across this thread strolling through ff, so glad I did. have been following it ever since! Thankyou to everyone who contributes to this thread, there is a wealth of knowledge here.
I attached a c trade, being that there isn't much room to move before traffic and moving towards brn of 1.5. But was hoping for some input more on the trade management side as that where I need to improve, planning entry/exit points.
Again, I can't Thank James and the...Ignored
DislikedHey guys.
Correlated pairs EURGBP GBPCHF are both approaching related trendlines, and are at 150ema mean value, both most likely going to close with PB, at previous S/R. GBPCHF is also showing confluence with 61.8 fibo.
Any thoughts about it?Ignored
DislikedYes, it's surely not anymore a PB.
I'll sit aside and wait for the test of those levels. Many thanks for your analysisIgnored
DislikedHello again everyone. I started testing J16 on daily bars in June 2010. Due to my schedule I only spend a few minutes a day trading. This means I am not available throughout the day to move my stops. This means I must wait for the best setups to avoid taking a loss. I wanted to see if it was possible to make good gains while only trading daily bars. I like to pop in about every 6 months to update.
In July and August, I took 12 trades and ended up break even.
Sept: 3 wins, 1 loss
Oct: 2 wins
Nov: 1 win
Dec: No trades
It's been a wild...Ignored
DislikedJust a quick question re different timings as far as different charting packages. Noted a number of posts about pin bar on GBPUSD yesterday and obviously it had a good run down. Have attached my chart as I was looking at and I don't have a PB at all. Obviously it is to do with the different open/closing times for different brokers. I am in AUS and use MT4.
Ideally I would like to trade using the same open/closes of the markets as what the majority of traders are using. In my mind that makes the PA patterns more reliable if more people are seeing...Ignored
DislikedHey Hally
Even some brokers with a 5pm close time didn't show a PB yesterday. This was a biproduct of many brokers being closed for new years day and opening their charts late. FX is a 24/7 market that doesn't close and thus there was action going on. So many brokers are simply missing that data which looks like a gap and a bearish bar
Best
MikeIgnored