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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

  • #6,461
  • Sep 26, 2007 6:37am Sep 26, 2007 6:37am
Quoting JoshDance
Hi guys, I've written a MetaTrader indicator that will calculate with a visual stop loss line how many lots to trade given a fixed risk %. I've posted the .ex4 file and screen shots in this new thread over in the MetaTrader forum. I wanted to especially share it with you all since most of us are very concerned with proper money management and good position sizing. I hope you enjoy it and can find it useful.

http://www.forexfactory.com/showthread.php?t=48623
Well, this will give me one less headache to worry about, thanks josh!
Never say never.
  • #6,462
  • Sep 26, 2007 7:17am Sep 26, 2007 7:17am
Now this is interesting. I had a stop on one half of my AUD/CAD position at 0.8750. I come back to my computer after lunch and see that the market has traded as low as 0.8747 but has taken right off and I have not been stopped out. Now sometimes there is a delay in processing an order but its now 1 hour and 40 minutes later and the position is still sitting there...I hate it when this happens. I am sure the SB company / broker has a right to revoke this trade when they discover the mistake but in the meantime I get to see my P&L rocket...anyone had an experience like this before?
  • #6,463
  • Sep 26, 2007 7:23am Sep 26, 2007 7:23am
Quoting SeekingLight
All three xxxCHF are rising and my EURCHF short died - now what?
..go with the flow..
  • #6,464
  • Sep 26, 2007 7:30am Sep 26, 2007 7:30am
Quoting the_wizard
Now sometimes there is a delay in processing an orderanyone had an experience like this before?

Finspreads used to take MINUTES, too ;p

Going to Oanda was like waking up in wonderland..instant execution on everything....until the spread widening came

But to be honest? Hasn't been a factor in over a month now...and I sometimes even traded before/after news...(when trading charts the rest just becomes so...forgettable...you don't even notice except for sudden jolts around 14:30 my time..)

As for your AUDCAD - I expect you'll have gotten away with it and been lucky.

You might at least CONSIDER reducing the "insane risk for insane profits so I can be rich by next Friday" amounts to something that won't have your knickers in a knot in these very situations

Not trying to stop you from getting rich, but from going insane in the process
Trust price. Know yourself.
  • #6,465
  • Sep 26, 2007 7:32am Sep 26, 2007 7:32am
Quoting raczekfx
..go with the flow..
Okay, I'm off to the video store to rent "Sideways"
Trust price. Know yourself.
  • #6,466
  • Sep 26, 2007 7:35am Sep 26, 2007 7:35am
Quoting SeekingLight



Well I am ............................(Anyone remember everyone not trusting that USDCAD bar after all those "burns" before? Dito EURCAD?)
..........................................ual

Staying well clear of this pair for now have been burned too many times on this will go long on NZD_USD if it breaks fingers crossed.....!
Stay Lucky.
  • #6,467
  • Sep 26, 2007 7:40am Sep 26, 2007 7:40am
Did anyone take this usdjpy setup?

I just closed my position for 72 pips awhile ago. I love these kind of setups.

http://i23.tinypic.com/mlnwib.gif


Also one with the gbpusd from yesterday's aud->jpy session

http://i21.tinypic.com/70wccn
100% of traders are losers. Just that some win more than they lose!
  • #6,468
  • Sep 26, 2007 7:47am Sep 26, 2007 7:47am
Quoting Mr demark
Did anyone take this usdjpy setup?

I just closed my position for 72 pips awhile ago. I love these kind of setups.

http://i23.tinypic.com/mlnwib.gif


Also one with the gbpusd from yesterday's aud->jpy session
http://www.forexfactory.com/showpost...&postcount=698
  • #6,469
  • Sep 26, 2007 7:53am Sep 26, 2007 7:53am
Quoting the_wizard
I have 0.9300 in my head but I really I try and keep an open mind. I just want to make sure that if it moves, I am in big.

After all, there is no point having an opinion, unless you are positioned to make a huge deal of money from it.
I hope it gets past the .8800 area, looks like major PZ, then the .8900 area were the major ema's are hanging out. Good trading Wiz.
  • #6,470
  • Sep 26, 2007 7:55am Sep 26, 2007 7:55am
Quoting razldazl
Well, this will give me one less headache to worry about, thanks josh!
You're welcome razl--I can finally stop switching to my spreadsheet... let me know if you have any problems with it.
  • #6,471
  • Sep 26, 2007 8:00am Sep 26, 2007 8:00am
Watching for over extention. Getting close to the rejection zone.
  • #6,472
  • Sep 26, 2007 8:02am Sep 26, 2007 8:02am
Quoting HipsterPipster
I hope it gets past the .8800 area, looks like major PZ, then the .8900 area were the major ema's are hanging out. Good trading Wiz.
Dude this cross is a right laugh. I never traded it before. It moves handfuls of pips in each tick. LOL
  • #6,473
  • Sep 26, 2007 8:18am Sep 26, 2007 8:18am
Just spoke to my broker - apparently it only went beneath my stop for a few seconds and then reversed so they let the position run!

And who says brokers are all out to get you?!

So, still in this and higher we go...to make it more exciting, my broker closes this market between 9pm and 7am so for 10 hours I am running a large position with theoretical unlimited risk (ok, I suppose the risk on a long is always "limited by zero - compared with unlimited risk on a short) with no possible way to close out.

Someone said good trading shouldn't be fun but damned if I don't love this business.
  • #6,474
  • Sep 26, 2007 8:28am Sep 26, 2007 8:28am
Quoting the_wizard
Just spoke to my broker - apparently it only went beneath my stop for a few seconds and then reversed so they let the position run!

And who says brokers are all out to get you?!

So, still in this and higher we go...to make it more exciting, my broker closes this market between 9pm and 7am so for 10 hours I am running a large position with theoretical unlimited risk (ok, I suppose the risk on a long is always "limited by zero - compared with unlimited risk on a short) with no possible way to close out.

Someone said good trading shouldn't be fun but damned if I don't love this business.
Well that was nice. Do you give him/her a bonus during Christmas?:
  • #6,475
  • Sep 26, 2007 8:38am Sep 26, 2007 8:38am
Quoting Mr demark
Did anyone take this usdjpy setup?

I mentioned what I did the other day

Wiz, Kathy's Krew is on your side it seems: http://forexfactory.com/news.php?do=news&id=48753


I just got obliterated on Gold for no good reason(10$ gone in a heartbeat, just as bad on Silver) :/

Did I miss some important news bit?
Trust price. Know yourself.
  • #6,476
  • Sep 26, 2007 10:05am Sep 26, 2007 10:05am
Hi Mike

Could you please tell me how to record video like videos in PF?

Thanks
  • #6,477
  • Sep 26, 2007 10:20am Sep 26, 2007 10:20am
Quoting young_09
Hi Mike

Could you please tell me how to record video like videos in PF?

Thanks
I used the camtasia video software, it is pretty cool
  • #6,478
  • Sep 26, 2007 10:35am Sep 26, 2007 10:35am
Quoting HipsterPipster
Well that was nice. Do you give him/her a bonus during Christmas?:
LOL no...
  • #6,479
  • Sep 26, 2007 10:36am Sep 26, 2007 10:36am
Quoting SeekingLight
Wiz, Kathy's Krew is on your side it seems: http://forexfactory.com/news.php?do=news&id=48753
Uh oh, it's probably going to tank now
  • #6,480
  • Sep 26, 2007 11:17am Sep 26, 2007 11:17am
Quoting Mr demark
Did anyone take this usdjpy setup?
Yes I did. I went long at 115.00 and have a stop at breakeven.

I was fairly confident about this once it was +70 but it looks like the US session is seeing some selling and its falling quite hard...I'm in for a possible breakout of the triangle...if it doesn't happen whilst I'm in, too bad I guess.
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