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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

  • #7,641
  • Nov 15, 2007 1:16pm Nov 15, 2007 1:16pm
Quoting Tiki Trader
OK Ka-Ching again...

GBP/JPY +133 pips... and I did it with PA...

Mr Booker always said... ALWAYS have a chart...
nicely doone...
  • #7,642
  • Edited 2:35pm Nov 15, 2007 2:22pm | Edited 2:35pm
YEAH BABY!!!!!

nothing else to say...

and the beat goes on


http://i8.tinypic.com/6yv3tr7.gif

EIT - i hope it is ok posting it here, it is just to show how with looking at a chart for 5 minutes once a week - last week... could make you tons of pips..

i check them once or twice a day- simply because i have no other option..
once it had retraced back, but i held on to it...and here it goes - will it retrace? i sure hope not, but if it does, i am ready for it!

lets go 1000 pips on each!!!
  • #7,643
  • Nov 15, 2007 2:35pm Nov 15, 2007 2:35pm
Quoting mamutot
YEAH BABY!!!!!

nothing else to say...

and the beat goes on


http://i8.tinypic.com/6yv3tr7.gif
way to go boss
  • #7,644
  • Nov 15, 2007 2:44pm Nov 15, 2007 2:44pm
Quoting mamutot
YEAH BABY!!!!!

Hehehe...Tiki and Mamutot both, proud of you(although you really shouldn't be on the 1h Tiki..)...it's so nice to see when folks that want to learn get to the point where they can see the improvement happening for them and tangibly, too...

I think this calls for a group hug

Let's go get our local teddybear Mr. Trend to join in for the extra bit hugglywugglyness

Trust price. Know yourself.
  • #7,645
  • Nov 15, 2007 2:58pm Nov 15, 2007 2:58pm
Nobody is going to find Mr Trend under all those pips...

You are right that I should not be on the 1 hr... I was on pins and needles the whole way... but I had an unexpected day off from work, and the only thing I could find to do was trade... this is now about 350+ pips for me in two days... I have added 2-1/2 % to my account... But overall it is looking bleak and not possible to make my account balance UP 10% by the end of year... YTD for me now is -12% I did not find and learn enough J16 in time to save me.... plus a VERY bad trade I made a couple of weeks ago that ruined it all.............

Quoting SeekingLight
Hehehe...Tiki and Mamutot both, proud of you(although you really shouldn't be on the 1h Tiki..)...it's so nice to see when folks that want to learn get to the point where they can see the improvement happening for them and tangibly, too...

I think this calls for a group hug

Let's go get our local teddybear Mr. Trend to join in for the extra bit hugglywugglyness

  • #7,646
  • Nov 15, 2007 6:47pm Nov 15, 2007 6:47pm
Iam new on this forum and still reading threads. I found james 16 thread very intresting. I want a favour. Will u post chart which show following price action ?
1. dblhc
2. dbhlc
4. beovb
5. buovb
where do u place stop loss and entry for it ? Please post it and show it on charts.

note- dblhc and dbhlc are traded in two way. First breakout when price action break double top or bottom of last two or three candles. and another way is when double top or bottom work as a support. I need both example.
Please post chart. There are two many chart related to this. But i didnot found any chart who show entry and stop loss.
Please help me.
Sorry for my english. Iam not English.
Let's trade together.
  • #7,647
  • Nov 15, 2007 8:06pm Nov 15, 2007 8:06pm
I hope this is the right place to ask this.Here goes
Just to clarify
I use candlesticks and from what I can determine pinbar set-up on a bar chart is pretty much what they call a morning star/ evening star in japanese candlestick lingo right.
If I am wrong could someone explain where the difference would be?

thanks
  • #7,648
  • Nov 15, 2007 8:14pm Nov 15, 2007 8:14pm
Quoting FXBaby
Iam new on this forum and still reading threads. I found james 16 thread very intresting. I want a favour. Will u post chart which show following price action ?
1. dblhc
2. dbhlc
4. beovb
5. buovb
where do u place stop loss and entry for it ? Please post it and show it on charts.

note- dblhc and dbhlc are traded in two way. First breakout when price action break double top or bottom of last two or three candles. and another way is when double top or bottom work as a support. I need both example.
Please post chart. There are two many chart related to this. But i didnot found any chart who show entry and stop loss.
Please help me.
Sorry for my english. Iam not English.
Many ways to play these and all bars. The most conservative way is to wait for a break of the bar to enter(that means wait for the high when going to long, and low of the bar on a short). Place your stop on the opposite end of the bar.

Other ways to play these bars are entries on a retracement, or entry on the close(most agressive).
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  • #7,649
  • Nov 15, 2007 10:44pm Nov 15, 2007 10:44pm
Thanks sir.
Very very thanks.
Let's trade together.
  • #7,650
  • Nov 15, 2007 11:02pm Nov 15, 2007 11:02pm
Dear friend,i donot know much about candlesticks. I have two book may be help u or someone else. I found these books on different website. May be these books available on this thread but this thread is too big and i read only 90 post of this thread.
Attached File(s)
File Type: pdf Pin bars-advanced.pdf   113 KB | 1,983 downloads
File Type: pdf Pin bars-introduction.pdf   175 KB | 1,882 downloads
Let's trade together.
  • #7,651
  • Nov 15, 2007 11:42pm Nov 15, 2007 11:42pm
Quoting FXBaby
Dear friend,i donot know much about candlesticks. I have two book may be help u or someone else. I found these books on different website. May be these books available on this thread but this thread is too big and i read only 90 post of this thread.
Go do a search on Amazon for Steve Nison. He writes the Bible on candlesticks.
Mr. Trend
  • #7,652
  • Nov 16, 2007 2:27am Nov 16, 2007 2:27am
mike, i made the move to pa a few months back and its the best system i have traded so far. tps are something i still havent got the hang of.

one school of thought is to move the sl every day to the low/high of the daily bar.. the problem with that is you do give back pips quite a few times.

any suggestions?



Quoting mbqb11
Many ways to play these and all bars. The most conservative way is to wait for a break of the bar to enter(that means wait for the high when going to long, and low of the bar on a short). Place your stop on the opposite end of the bar.

Other ways to play these bars are entries on a retracement, or entry on the close(most agressive).
  • #7,653
  • Nov 16, 2007 2:35am Nov 16, 2007 2:35am
Quoting coolshades
mike, i made the move to pa a few months back and its the best system i have traded so far. tps are something i still havent got the hang of.

one school of thought is to move the sl every day to the low/high of the daily bar.. the problem with that is you do give back pips quite a few times.

any suggestions?
I am from the school of trailing stops(cut ur losers, ride the winners). Most of my trade mgmt is like this. In the PF I have a thread dedicated to this that blew up b/c of just the reason you speak of. Depending on the timeframe I trade, is the type of exit strategy I use. For example when i trade the 4hr, I almost always use a 2/3 bar count(much like using the previous day, but instead I count back 2 bars from the last closed bar). There is more too it, but that is the basics, and it works. This insures a pair is at least still trending in my favor. If we fail to make higher highs and higher lows in an uptrend the bar count will stop you out. Vice versa in a downtrend. It is a bit much to go into detail but maybe this will spark some ideas for you.

Mike
  • #7,654
  • Nov 16, 2007 3:30am Nov 16, 2007 3:30am
Quoting mamutot
lets go 1000 pips on each!!!
Be careful of the 20 on the entry TF.
  • #7,655
  • Nov 16, 2007 10:33am Nov 16, 2007 10:33am
Quoting mbqb11
Many ways to play these and all bars. The most conservative way is to wait for a break of the bar to enter(that means wait for the high when going to long, and low of the bar on a short). Place your stop on the opposite end of the bar.

Other ways to play these bars are entries on a retracement, or entry on the close(most agressive).
Thx for taking the time to post this chart. I have been dissapointed lately as in the last two weeks i have not seen one good PA trade on the dailys. I have taken two trades that were C type trades. I understand the point of patience however if i have to wait weeks for a decent PA trade, that will take alot of time to build up an account. Especially since i can't load up when an A trade occurs since each individual trade outcome is radom and only a group of trades will show if my edge is working. Ashamed to admit it but this is when i miss a my MA cross system.

Any idea when the PF forum will accept new members? I need to go to the next level.
  • #7,656
  • Edited 11:49am Nov 16, 2007 10:56am | Edited 11:49am
Quoting saskgui
Thx for taking the time to post this chart. I have been dissapointed lately as in the last two weeks i have not seen one good PA trade on the dailys.

Any idea when the PF forum will accept new members? I need to go to the next level.

I think there were at least a handful. IMHO you shouldn't put the "blame" on being in the PF or not. It might help or speed things along, sure(there's lots of live / direct support and feedback and the new site will take that another step further), but if you ask me you should/could also take the time until then to simply go over the charts with the setups you already have at your disposal and see if you can find the good, the bad and the ugly trades.

Step through 'em, see what would have worked for you (try to step through the chart one by one e.g. without cheating) and what not, try to figure out whether the trade failed because some just do or whether you missed something, etc.

Basically - keep a journal and backtest "quasi live". That's really two of the best things you can do. I know it's really hard to simulate an unknown future environment (I think someone wrote a soft because of that, but hiding partial data and trading the 1990s e.g. is a good trick, too), but the point is to see and chart setups, s/r areas, and so forth.

The more you do (for) yourself, the more you benefit from examples of others. Getting to a higher plateau is a lot simpler from elevated ground on =)
Trust price. Know yourself.
  • #7,657
  • Edited 11:56am Nov 16, 2007 11:55am | Edited 11:56am
I see mountains consolidation.

edit: ack, james16 just deleted the picture
  • #7,658
  • Nov 16, 2007 12:13pm Nov 16, 2007 12:13pm
eurchf.... weekend homework
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  • #7,659
  • Nov 16, 2007 12:20pm Nov 16, 2007 12:20pm
gbpchf....
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  • #7,660
  • Nov 16, 2007 1:17pm Nov 16, 2007 1:17pm
Rac,
You beat me to it. I have been stalking the EUR/CHF for the last week or so and the GBP/CHF looks very promising too. I agree if they close like they are shown in your charts we could see a nice upward rally starting next week. EUR/CHF has about 400+ pips to the top and GBP/CHF has about 300 or so to the next big resistance area. I am leaning more on the EUR/CHF because EUR/GBP cross shows Euro is stronger than the Pound right now. You can also see that with majors as well. Should be a good week.
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