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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

  • #6,541
  • Sep 27, 2007 1:49pm Sep 27, 2007 1:49pm
Quoting mbqb11
not to mention the dude got struck by lighting! Prob can fly and other crazy sh*t! :

ROFL!!
  • #6,542
  • Sep 27, 2007 1:58pm Sep 27, 2007 1:58pm
Quoting canaxis
dear the_wizard,

care to elaborate your trading style/system? thanx before
wiz..............here's the first trader who thinks "2000% in three months" sounds REAL GOOD!

PS.............could you forward me a custom indicator and EA for your system. Thanks!
  • #6,543
  • Sep 27, 2007 2:05pm Sep 27, 2007 2:05pm
Quoting canaxis
dear the_wizard,

care to elaborate your trading style/system? thanx before

...and here's the first < 100 post customer..

I shoulda placed a long on "expectations towards this end", I'd be starting to see pips now! Maybe we'll even get a breakout!


Also @
Quoting BeachBum
wiz..............here's the first trader who thinks "2000% in three months" sounds REAL GOOD!

PS.............could you forward me a custom indicator and EA for your system. Thanks!
And it appears Mike went long with me
Quoting mbqb11
Numbers like that draw people, and would immediately draw some individuals to go right for the 1 hour and take substantial risks.
So, people, remember: the wiz has had to indulge this torture for over 3 years, several destroyed accounts AND had to be hit by lightning first. DO YOU REALLY WANT THIS FOR YOU!
Trust price. Know yourself.
  • #6,544
  • Sep 27, 2007 2:09pm Sep 27, 2007 2:09pm
Quoting canaxis
dear the_wizard,

care to elaborate your trading style/system? thanx before
Oh no, Jim's not going to be happy when he reads this. I blame HipsterPipster, as soon as I posted it I realised that it might be a mistake and deleted it and then she told me that the subscribers had been emailed it anyway...

Canaxis, to answer your question, I trade the setups Jim has taught us but I add in a few other things of my own that I have picked up over time. As explained above I have had over 3 years of experience (several blown accounts and countless thousands lost) learning what works and what doesn't which means that I play the bars largely on instinct.
  • #6,545
  • Sep 27, 2007 2:12pm Sep 27, 2007 2:12pm
Quoting the_wizard
Oh no, Jim's not going to be happy when he reads this. I blame HipsterPipster, I deleted my original post and then she told me that the subscribers had been emailed it anyway...

Canaxis, to answer your question, I trade the setups Jim has taught us but I add in a few other things of my own. As explained above I have had over 3 years of experience (translate this as losing money) learning what works and what doesn't which means that I play the bars largely on instinct.
Does this "generic answer" mean I won't be receiving my requested indicator and EA?............
  • #6,546
  • Sep 27, 2007 2:12pm Sep 27, 2007 2:12pm
Quoting the_wizard
Oh no, Jim's not going to be happy when he reads this. I blame HipsterPipster, as soon as I posted it I realised that it might be a mistake and deleted it and then she told me that the subscribers had been emailed it anyway...

Canaxis, to answer your question, I trade the setups Jim has taught us but I add in a few other things of my own. As explained above I have had over 3 years of experience (translate this as losing money) learning what works and what doesn't which means that I play the bars largely on instinct.
Lol wiz your answer should be go stand out in a lighting storm with a kite. One must get hit by lighting first! Man I am never gonna forget that about you
  • #6,547
  • Sep 27, 2007 2:15pm Sep 27, 2007 2:15pm
Well, I left my target open and went off to work... wasn't too worried about the stop sice it was so close... most I was going to lose is 90 cents... I'll live... came home to find I still had at least 10 or 12 pips profit... not much, but just close it out on the spot..

Honestly, it seems no matter what I think or try to analyse, things go just about the other way no matter what I do... I conclude once again I just am not much for technical analysis...

My main focus really has been waiting for the EUR/USD to begin some kind of correction... and so now you all know why it just keeps going up and up...

Quoting SeekingLight
I believe it's gonna break to the upside.

Considering how far we've already moved against the USD for the day I wouldn't short anything with less than a big 4h PB and even then only on break and even then I'd have doubts.

We're all victims of our convictions. I spent 2 weeks trying to go long during the sideways / move down phase and paid in time and money, and you I believe are now trying to get the market to still go down.

We both have to move past some of our own stubborness I think

Attaching a way things could have gone by taking "all setups" on daily and not playing clever(not directed at anyone!) and closing, but allowing the stop / PA dictate things.

You'll see it gets very little profit initially, but what if any of the TL had broken down? You woulda been in all the way.

This is back to our old debate of closing out early vs letting it run even on risk of +0.
  • #6,548
  • Sep 27, 2007 2:18pm Sep 27, 2007 2:18pm
I doubt it will even be a bandaid in the end !!!!!!!!!


Quoting HipsterPipster
This market is consolidating on the daily as we can see by your chart. Lower highs and higher lows. The swings are becomming shorter and shorter. Could be a great place to get in long on any remaining low swing.......if we get one. (Uneducated Fundie Moment) US home sales will most likely be crap as usual, unless people bit on the interest rate drop. But, long term in my opinion, it is only a bandaid.
  • #6,549
  • Edited 2:35pm Sep 27, 2007 2:20pm | Edited 2:35pm
That's alright... came home and still had at least a few pips profit... closed that out, and now really have now ideas of anything to do until seeing what end of day canldles might bring...

Quoting SeekingLight
That, too

Cable retrying that trendline soon.....Tiki, quick, run for coverrrrrrrrrrrrrrrrrr

Hope he moved that stop to b/e soon enough..
  • #6,550
  • Sep 27, 2007 2:22pm Sep 27, 2007 2:22pm
You have revamped your avatar.... !!!

And I have managed to add only a whole 50 cents to my balance today... ugh...!!

Quoting razldazl
just hoping your stop wasnt too too tight...
  • #6,551
  • Sep 27, 2007 2:26pm Sep 27, 2007 2:26pm
Yes, but most of them slipped away while I was at work...


Quoting HipsterPipster
Tiki, were you able to secure some of those pips?
  • #6,552
  • Sep 27, 2007 2:28pm Sep 27, 2007 2:28pm
Quoting mbqb11
Lol wiz your answer should be go stand out in a lighting storm with a kite. One must get hit by lighting first! Man I am never gonna forget that about you
lol that's the real secret, when the lightning strikes I short everything that moves and then close it when I wake up. works everytime
  • #6,553
  • Sep 27, 2007 2:29pm Sep 27, 2007 2:29pm
Quoting BeachBum
Does this "generic answer" mean I won't be receiving my requested indicator and EA?............
You don't need any indicators BeachBum you do well enough
  • #6,554
  • Sep 27, 2007 2:31pm Sep 27, 2007 2:31pm
if you can trade on hourly, it means you have time to trade on hourly... one of the principle reasons I can to j16 was to try and get in on longer moves, and because as a working person... I just can't stay in front of the screen all day..

It is good for you what you are doing. I think it is great... But I want to try to concentrate on the daily... idea to make trades once a day... analyse once a day...

I don't want to be a full time trader... but I do want the full time income from it...

In the end... I am having little or no luck with anything !! So if you are making it wiz... I am really happy for you... ( could I borrow some of your pips please ?? ) And a beer too... I see you have been drinking lately !!


Quoting the_wizard
I want to tell you folks something and this is a bit controversial. As much as I agree with Jim on pretty much everything there is one thing that bothers me and that is when he says "if you can't trade daily bars then don't bother going lower because if you can't make money on daily TF what makes you think you can do it on one hour?"

This sounds very reasonable but I tell you that when I trade daily, I get a few losses and a handful of breakevens and a few small wins. basically my account goes nowhere.

When i trade hourly, I make over 2,000% in three months.

I have thought about why this might be and it comes down to trade management.

But this is exactly what I said when I spoke of the difference between what I want to do and what I am good at doing. Because I tell you now I want to capture big moves in the market and hold positions that trend as some of you do very well (I keep thinking of Mikes Euro position) but I just can't seem to do it now.

When i trade hourly, it somehow feels right - I feel alert, in touch with the markets movement, precise. When I trade daily bars I just feel unsure of things.

So the whole point of this is to say that start on weekly and daily but if you can't do it, don't be afraid to try other timeframes (on demo of course) because since I started trading hourly I haven't looked back.
  • #6,555
  • Sep 27, 2007 2:33pm Sep 27, 2007 2:33pm
Quoting the_wizard
Oh no, Jim's not going to be happy when he reads this. I blame HipsterPipster, as soon as I posted it I realised that it might be a mistake and deleted it and then she told me that the subscribers had been emailed it anyway...

Canaxis, to answer your question, I trade the setups Jim has taught us but I add in a few other things of my own that I have picked up over time. As explained above I have had over 3 years of experience (several blown accounts and countless thousands lost) learning what works and what doesn't which means that I play the bars largely on instinct.
Just so we are all on the same page, I have balls. Wiz Hipster.
  • #6,556
  • Sep 27, 2007 2:38pm Sep 27, 2007 2:38pm
You guys don't get it

Don't you see the similarity


Lighting strike ----------- PIN BAR


HE has an edge
Attached Image (click to enlarge)
Click to Enlarge Name: lstrike.jpg Size: 52 KB
  • #6,557
  • Sep 27, 2007 2:41pm Sep 27, 2007 2:41pm
Quoting mbqb11
You guys don't get it

Don't you see the similarity


Lighting strike ----------- PIN BAR


HE has an edge
LOOOOOOOOOOOOOOOOOOOOOOOOOOL
  • #6,558
  • Sep 27, 2007 2:42pm Sep 27, 2007 2:42pm
Quoting mbqb11
You guys don't get it

Don't you see the similarity


Lighting strike ----------- PIN BAR


HE has an edge
Now I have seen it all!
  • #6,559
  • Sep 27, 2007 2:42pm Sep 27, 2007 2:42pm
Quoting HipsterPipster
Just so we are all on the same page, I have balls. Wiz Hipster.
Whoops! Now why did I think you were female...?
  • #6,560
  • Sep 27, 2007 2:46pm Sep 27, 2007 2:46pm
Quoting the_wizard
Whoops! Now why did I think you were female...?
That is my wife in the photo. My full name is Dionysius, its Greek, although I am not. I go by Dion for short and my name confuses people. Thats ok, I'll let it slide this time, but only because you have been hit by lightening......
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