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Where can I learn more about Price Action like those in James16 charts? 9 replies

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james16 Chart Thread

  • #29,821
  • May 12, 2009 4:13pm May 12, 2009 4:13pm
I can just hear James16 saying in a video "This went right where we thought it would go guys! This is simple stuff."

On that note, nothing appealing on daily tonight... I'm out.

Josh
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  • #29,822
  • May 12, 2009 4:23pm May 12, 2009 4:23pm
I'm still holding my position on EurNzd and NzdUsd; now i don't know what to do: accept the actual losses, or take the positions open? I like yesterday pins, so i still believe they will work out..but.. who knows if it will be the right choice??
  • #29,823
  • May 12, 2009 4:24pm May 12, 2009 4:24pm
Im not trading these patterns yet (plus i am in a trade) but a nice head and shoulders on USD/JPY daily.
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Economists have forecast 9 out of the last 5 recessions
  • #29,824
  • May 12, 2009 5:33pm May 12, 2009 5:33pm
Quoting bakko85
I'm still holding my position on EurNzd and NzdUsd; now i don't know what to do: accept the actual losses, or take the positions open? I like yesterday pins, so i still believe they will work out..but.. who knows if it will be the right choice??
I had a look for your charts with the trades on them but did not see them, this thread moves pretty damn fast (you created a monster Jim) so maybe reposting them or linking them in a post would help everyone comment on your positions. I'm not the guy you want advice from but I would be keen to have a look.
M
  • #29,825
  • May 12, 2009 5:42pm May 12, 2009 5:42pm
Quoting bakko85
I'm still holding my position on EurNzd and NzdUsd; now i don't know what to do: accept the actual losses, or take the positions open? I like yesterday pins, so i still believe they will work out..but.. who knows if it will be the right choice??
This is a tough part for me too (although, I'm currently flat). But I still struggle with sticking with the plan I made for the trade when I placed the entry order.
My suggestion would be to stick to your original intentions, especially since you still believe they will work. It would be acceptable to exit your position if you felt that circumstances had changed since you entered the trade (for example, if price action in the opposite direction formed).
It comes across that maybe you haven't fully accepted the risk of the trade. (I think this is what happened to me too in my first live trade yesterday).

Finally, what I've found is that it's much easier to objectively make trade strategy conclusions when your sample is traded with exactly the same strategy... this helps you stay disciplined and makes it easy to measure improvement. Just my 2 and good luck Bakko,

Josh
  • #29,826
  • May 12, 2009 5:55pm May 12, 2009 5:55pm
post a chart.

jim

Quoting bakko85
I'm still holding my position on EurNzd and NzdUsd; now i don't know what to do: accept the actual losses, or take the positions open? I like yesterday pins, so i still believe they will work out..but.. who knows if it will be the right choice??
  • #29,827
  • May 12, 2009 6:33pm May 12, 2009 6:33pm
Quoting 4fun
Starting to look like the bears are pushing the bulls off the cliffhttp://www.forexfactory.com/images/icons/icon6.gif
Had to step from the ledge myself this early am I am in this as much as logically rational think 95.50 is just the 1st stop on the tour its all or nothing b/e the bulls r off the cliff 93.50 is were i am lookin not going to flinch or fumble a monster this time around. Really think that self imposed penalty box got my head right! Really who nows how far gravity will pull?
  • #29,828
  • May 12, 2009 6:40pm May 12, 2009 6:40pm
He who hesitates is ?
  • #29,829
  • May 12, 2009 6:49pm May 12, 2009 6:49pm
Quoting 4fun
He who hesitates is ?
Look before you ?
Indicators show the past. Price Action "Indicates" the future.
  • #29,830
  • May 12, 2009 6:52pm May 12, 2009 6:52pm
Nicehttp://www.forexfactory.com/images/icons/icon10.gif
  • #29,831
  • May 12, 2009 7:01pm May 12, 2009 7:01pm
Hey Jarroo took last week off for a fumbling penalty, been watching this baby grow b/4 my eyes hope he can learn to run. My entrys r solid my exists suck hope its a monster in its infancy hehe. Only time will tell
  • #29,832
  • May 12, 2009 7:13pm May 12, 2009 7:13pm
Quoting 4fun
Hey Jarroo took last week off for a fumbling penalty, been watching this baby grow b/4 my eyes hope he can learn to run. My entrys r solid my exists suck hope its a monster in its infancy hehe. Only time will tell
Usd/Jpy had a nice 4 hour BEOB with divergence the other day that I missed. Sorry I can't post charts now.

Exits do define your profits. Got a chart to show where you entered and exited?
Indicators show the past. Price Action "Indicates" the future.
  • #29,833
  • May 12, 2009 7:16pm May 12, 2009 7:16pm
Quoting ady27
Hi Lindsay,

sure it will be fun
[list][*]close your metatrader, MT from here on.[*]copy the downloaded files into your MT folder: Crogram Files/Meta Trader XXXXX /experts.[*]open MT.[*]go to Tools/options/Expert Advisors. make sure "allow live trading" is enabled, also "Allow DLL imports" is enabled.[*]"Ask manual confirmation" should not be enabled.[*]on the upper toolbar push the button "expert advisors".[*]pick the chart of the pair you trade.[*]on the left side there is the "navigator" window. open the...

Ady,

Thanks for sharing this. I will be trying it, too.
"A is A"
  • #29,834
  • May 12, 2009 7:24pm May 12, 2009 7:24pm
Quoting Jduester
FXAccucharts
5:00PM ET.
4:00PM CT.

Josh
Josh,

Great work! I really enjoy your posts.

BTW - Go Buckeyes!

I see I quoted the wrong post -- meant congrats on your three months results.
"A is A"
  • #29,835
  • May 12, 2009 7:27pm May 12, 2009 7:27pm
Would that be this one?
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  • #29,836
  • May 12, 2009 7:29pm May 12, 2009 7:29pm
Jarroo trying to do this from the pub on a iphone 1st time 4 everything couple of cuties hangin with us asked what I am doing, told um 4x they thought it was a porno hee will post manana to many new castles and patron honestly was so curious i had to check my position c ya manana
  • #29,837
  • May 12, 2009 7:30pm May 12, 2009 7:30pm
Quoting Rosco_P
Would that be this one?

That would be the one Rosco.
Indicators show the past. Price Action "Indicates" the future.
  • #29,838
  • Edited 9:22pm May 12, 2009 8:15pm | Edited 9:22pm
Ahhh - to sell or not to sell - EURUSD at the resistance. Interesting that the 8 hour chart shows a relative PB failure.
  • #29,839
  • May 12, 2009 8:29pm May 12, 2009 8:29pm
maybe this has room to continue it's downward movement?
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Respect a man, and he will do all the more.
  • #29,840
  • May 12, 2009 8:41pm May 12, 2009 8:41pm
Urchman, Eur/cad not even close to being a pin on my chart....be careful
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