james16 Chart Thread | Page 378 | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

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

Attachments: james16 Chart Thread
Exit Attachments

james16 Chart Thread

  • #7,541
  • Nov 8, 2007 10:36pm Nov 8, 2007 10:36pm
Quoting Tiki Trader
GBP/USD weekly
I think you're on to something If you don't mind me asking however, why do you use candlesticks over bars? It seems like a lot of what james16 does involves the bars.
Much respect to you
Matt
  • #7,542
  • Nov 8, 2007 10:38pm Nov 8, 2007 10:38pm
Quoting MattL4417
I think you're on to something If you don't mind me asking however, why do you use candlesticks over bars? It seems like a lot of what james16 does involves the bars.
Much respect to you
Matt
Hey Matt

Bars(OHLC) and Candles are the exact same thing. It just becomes a personal preference.

M
  • #7,543
  • Nov 8, 2007 10:47pm Nov 8, 2007 10:47pm
Quoting mbqb11
Hey Matt

Bars(OHLC) and Candles are the exact same thing. It just becomes a personal preference.

M
Hm. I understand they show the exact same data, I just didn't understand you can see the same indications with them. I will be sure to look closer in the future. You're always so quick to answer my questions, thank you Mike.
  • #7,544
  • Nov 9, 2007 4:40am Nov 9, 2007 4:40am
Quoting SeekingLight
Okay, everyone, I am going to be very mean for a second now because this problem bugs the living crap out of me

(Bugs me because I believe it's bad for your bottom line to exhibit this behavior.)


What I am seeing is: once the market's already gone and done a 2-500 pip nosedive, everyone suddenly sees bearish setups. Well, yes, that's because the chart is already bleeding red.

But entering at the break of the giant bear stuff is imho the same as if you go back to MA crossover land and get two EMAs to cross after a 500 pip dropoff. Obviously they will cross - and obviously you will enter AFTER the move in which you should have been in BEFORE it occured.

This is why I always say I don't like break entries - I like to be in BEFORE the actual move happens. And it doesn't have to be retrace entries, either, I meant the actual move as in on the a little bit bigger picture.

The USDJPY setups I posted just a day or two back would have done fine. They triggered, the chance was missed and now that the move that was to happen is over, everyone is regretting missing the pips and wants in still.

No.

You need to be daring to risk your money BEFORE the big moves happen and enter the setups that will kick the market off into the big moves.
This is where the money is.

Chasing after things after they've already up and gone is just not going to be very prudent. And I know this dilemma. It stems from being too afraid to go in BEFORE around 300+ pip blowouts confirmed that there will indeed be strong moves.

What I mean is - chasing comes from being afraid and lacking confidence to be in for the move before it happens.
This is also what I mean with the dare to dream analogy..you need to see the stuff happening before it does, not see it and then wish you would have been in..

This is one of the "getting there" cliffs one has to manage to jump off to progress down the road(eurgh I just turned my own stomach for using two different metaphores in such a terrible way...but it's understandable what I mean I think)...it's still hard to do for me, too, but one has to be careful not to be led into chasing when one does shy back from entering in time and then sees the boat has left the island already..

Not saying everyone's a bad boy and doing it all wrong - but instead trying to put focus on a phenomenon that has a lot to do with trading psychology, which I still believe is the make and break of this all.

A good post but I don't agree.

It's already moved well over 200 points lower since you posted.
  • #7,545
  • Nov 9, 2007 4:58am Nov 9, 2007 4:58am
Quoting the_wizard
A good post but I don't agree.

It's already moved well over 200 points lower since you posted.
You missed the point.
Trust price. Know yourself.
  • #7,546
  • Nov 9, 2007 5:30am Nov 9, 2007 5:30am
Quoting SeekingLight
You missed the point.
I think I understand what you are saying perfectly.

Don't chase the market.

I am simply saying that entering when the chart is "bleeding red" is not chasing the market if there is a good setup.
  • #7,547
  • Nov 9, 2007 5:33am Nov 9, 2007 5:33am
Quoting the_wizard
I think I understand what you are saying perfectly.

Don't chase the market.

I am simply saying that entering when the chart is "bleeding red" is not chasing the market if there is a good setup.
Then you did agree.

Either way, my post wasn't about pips, but I was trying to make a point about psychological thought processes, "trigger finger fear" and "fear of missing out" and so forth. Emotions and when to best be trading/entering/optimizing r/r, not saying when or not a move may or not end.
Trust price. Know yourself.
  • #7,548
  • Nov 9, 2007 5:46am Nov 9, 2007 5:46am
Mostly because my eyesight is not so great and it is not correctable... using candles helps me not to miss so much... I am better now than before at using and seeing bars... but will always use candles... either way it means I always zoom in a lot on my charts and I think because of that I often miss the bigger picture... I have to force myself always to zoom back and take a look.. I have had to deal with eyesight challenges all my life...

Quoting MattL4417
I think you're on to something If you don't mind me asking however, why do you use candlesticks over bars? It seems like a lot of what james16 does involves the bars.
Much respect to you
Matt
  • #7,549
  • Edited 6:52am Nov 9, 2007 5:49am | Edited 6:52am
I think Ihave to agree. and most I agree with that we have to try and already be in the move before it happens. Otherwise, my whole way of trading has been explained perfectly here..

BUT I still can only rarely be in the move already... very depressing after three years !!

Quoting SeekingLight
Then you did agree.

Either way, my post wasn't about pips, but I was trying to make a point about psychological thought processes, "trigger finger fear" and "fear of missing out" and so forth. Emotions and when to best be trading/entering/optimizing r/r, not saying when or not a move may or not end.
  • #7,550
  • Nov 9, 2007 5:59am Nov 9, 2007 5:59am
Hey guys I think there is a balance to be struck between taking breaks and entering before breaks. It's a continuum of this almost all the time it's the balance between analysis and sentiment and on this occation the sentiment definately went with the larger picture confirming early entry and break out. That is what I look for to affect my bottom line.
Charting works for me the better I get at it (no surprise there) allowing my ignoring of the noise to filter the sentiment properly .
It's a process of succeeding to enter early and on successful breaks by losing on early entries and missing breaks. Finally giving up to everything but the process.

Happy birthday brother
GOD IS NOT SHORT OF CASH
  • #7,551
  • Nov 9, 2007 6:09am Nov 9, 2007 6:09am
early entry.
Attached Image
GOD IS NOT SHORT OF CASH
  • #7,552
  • Nov 9, 2007 6:10am Nov 9, 2007 6:10am
d1 break
Attached Image
GOD IS NOT SHORT OF CASH
  • #7,553
  • Nov 9, 2007 6:10am Nov 9, 2007 6:10am
Quoting Tiki Trader
Mostly because my eyesight is not so great and it is not correctable... using candles helps me not to miss so much... I am better now than before at using and seeing bars... but will always use candles... either way it means I always zoom in a lot on my charts and I think because of that I often miss the bigger picture... I have to force myself always to zoom back and take a look.. I have had to deal with eyesight challenges all my life...
I see. By the way you called it on the GBPUSD! I think....
Attached Image (click to enlarge)
Click to Enlarge Name: gbpusd chart1.gif Size: 12 KB
  • #7,554
  • Nov 9, 2007 6:22am Nov 9, 2007 6:22am
Quoting Swami S
early entry.
Nice one Swami =)

I took that one from 4h as well as the daily IB after BEOB breakdown as addon.


Question for me now is - has GBPUSD topped out at 2.115? (Or at least had enough to either correct a little bit or pause)


If so, a few hundred pips there alone would lend GJ enough room to smash lower a loooot. Roughly 2-3 GJ pips to a GBPUSD pip I think? And maybe another 200 left in UJ...hmmm...well, let's see whether or not we can get somewhere =)

P.S. Looking at my charts lately puts me into shock..they're no longer the most cluttered ones around! I must be sick! ;p
Mike's prolly gonna miss my "Star Wars Charts"... ;P
I'm actually starting to get fed up when too much stuff is on them now...I take that as a good sign =)
Attached Image
Trust price. Know yourself.
  • #7,555
  • Edited 6:51am Nov 9, 2007 6:28am | Edited 6:51am
I hope that might be true !! But I have rarely called anything right... just the truth....

I am very tempted to jump in and sell right now... but better wait for end of day and see what we got... fight the urge Tiki... fight it !!! Consumer confidence out later, NO ?? Another easy chance for dollar to lose again... I am hearing consumer confidence very low now... I am betting lower number than advertised in FF calender

Trade balance coming too... also not good...

Quoting MattL4417
I see. By the way you called it on the GBPUSD! I think....
  • #7,556
  • Nov 9, 2007 7:40am Nov 9, 2007 7:40am
just sit on your hands Tiki
  • #7,557
  • Nov 9, 2007 11:58am Nov 9, 2007 11:58am
A long, but rewarding night. Could not resist.
Attached Image
  • #7,558
  • Nov 9, 2007 1:48pm Nov 9, 2007 1:48pm
500 pip drop right to the line... and where is tiki ??? sleeping and working sleeping and working... no pips for me... again !!!
Attached Image (click to enlarge)
Click to Enlarge Name: gbpjpy.gif Size: 11 KB
  • #7,559
  • Nov 9, 2007 1:53pm Nov 9, 2007 1:53pm
You played it perfect !!! I am envious !!!!!!!!!!!!!

Quoting milan47
A long, but rewarding night. Could not resist.
  • #7,560
  • Nov 9, 2007 3:31pm Nov 9, 2007 3:31pm
Quoting milan47
A long, but rewarding night. Could not resist.


Excellent trade. Can you see why I love 1hr?
47 traders viewing now