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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

  • #61
  • Jun 20, 2005 2:44pm Jun 20, 2005 2:44pm
Quoting bluemonkey
James are these all kelter bands or are some bollinger bands? They look like bollinger bands to me.
see post #9
  • #62
  • Jun 20, 2005 3:05pm Jun 20, 2005 3:05pm
new post
  • #63
  • Jun 20, 2005 4:39pm Jun 20, 2005 4:39pm
Hi,

I was busy this last w/e and this thread has exploded!

Anyway, many thanks to James for starting a great thread.

I have some catching up to do and so I hope you don't mind some belated questions.

How can I tell the difference between a double bar low higher close which indicates the price is going up and a double bar low (higher close) trend breakout and where would you set the entry point as you say in one of your posts to "play the retracement".

Many thanks
Alan
  • #64
  • Jun 20, 2005 5:04pm Jun 20, 2005 5:04pm
Quoting firehorse
Hi,

I was busy this last w/e and this thread has exploded!

Anyway, many thanks to James for starting a great thread.

I have some catching up to do and so I hope you don't mind some belated questions.

How can I tell the difference between a double bar low higher close which indicates the price is going up and a double bar low (higher close) trend breakout and where would you set the entry point as you say in one of your posts to "play the retracement".

Many thanks
Alan
GREAT QUESTIONS, the answer is a bit complicated. i may use charts to show after the post. the short answer is i play both. charts to come.
  • #65
  • Jun 20, 2005 5:28pm Jun 20, 2005 5:28pm
new chart
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  • #66
  • Jun 20, 2005 5:43pm Jun 20, 2005 5:43pm
Quoting james16
i am not sure if i want to do this yet but how many of you would like me to actually post potential trades.
james, coming from you, i think that would be incredibly valuable to post potential trades.
Relax and be happy.
  • #67
  • Jun 20, 2005 5:48pm Jun 20, 2005 5:48pm
Quoting james16
merlin, could you do a basic el code for me on the lower and higher close bar entries. i would want the stops and targets to be changeable by me for further study. i would appreciate any help. jim
james, i will do the EL code and some backtesting on this pattern. give me until the first week of July though. right now i am on to some breakthrough research that i have to focus on for the rest of this month.

btw, ive researched similar patterns, albiet on different time frames, and im interested to see how your system compares...
Relax and be happy.
  • #68
  • Jun 20, 2005 5:51pm Jun 20, 2005 5:51pm
Quoting merlin
btw, ive researched similar patterns, albiet on different time frames, and im interested to see how your system compares...
nevermind, i just realized you are working with the 5min chart too
Relax and be happy.
  • #69
  • Jun 20, 2005 5:53pm Jun 20, 2005 5:53pm
new chart
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  • #70
  • Jun 20, 2005 5:57pm Jun 20, 2005 5:57pm
Quoting merlin
james, i will do the EL code and some backtesting on this pattern. give me until the first week of July though. right now i am on to some breakthrough research that i have to focus on for the rest of this month.

btw, ive researched similar patterns, albiet on different time frames, and im interested to see how your system compares...
thank you sir, no hurry, i already know it works i have just always wanted to find a way to take as much subjectivity out as possible. backtesting could help me do that.
  • #71
  • Jun 20, 2005 5:58pm Jun 20, 2005 5:58pm
Quoting merlin
nevermind, i just realized you are working with the 5min chart too
i trade 5 min only when i see a trend on that time frame otherwise i daytrade on 15
  • #72
  • Jun 20, 2005 6:12pm Jun 20, 2005 6:12pm
Quoting merlin
james, coming from you, i think that would be incredibly valuable to post potential trades.
what i may end up doing is just putting up a chart with basic info. if i do it needs to be understood that the trader is responsible for entry and exit techniques. as i have said two traders can take the same signal and one will win and the other will lose thier shirt. i like being here to much to watch people i like lose money because they just are not ready for playing charts instead of signal services with entry, stop and profit all in one. i have been working for a couple of months on a websight, many of you here will get it free if and when its ready. jim
  • #73
  • Jun 20, 2005 6:58pm Jun 20, 2005 6:58pm
Thank you Jim for your generous sharing. I didn't realize how many charts you had posted until I was saving them for reference. Your work is awesome and much appreciated! I'm always looking for a new perspective or new imput and you have inspired me to look at things a little differently.
I have a question for you if you don't mind: Do you use any indicators besides what you are currently displaying on your charts to filter out false breakouts?
Pat yourself on the back from all of us....this is a great thread!
Thanks, Candy
  • #74
  • Jun 20, 2005 7:26pm Jun 20, 2005 7:26pm
Quoting candy
Thank you Jim for your generous sharing. I didn't realize how many charts you had posted until I was saving them for reference. Your work is awesome and much appreciated! I'm always looking for a new perspective or new imput and you have inspired me to look at things a little differently.
I have a question for you if you don't mind: Do you use any indicators besides what you are currently displaying on your charts to filter out false breakouts?
Pat yourself on the back from all of us....this is a great thread!
Thanks, Candy
good question but no i really do not use anything to filter as you say. my exp has been if you play them smart you are going to make money. the problem i have had with trying to filter is when i find one, it works for a while and then due to something it stops, so i dont use them. jim
  • #75
  • Jun 20, 2005 8:16pm Jun 20, 2005 8:16pm
Quoting james16
what i may end up doing is just putting up a chart with basic info. if i do it needs to be understood that the trader is responsible for entry and exit techniques. as i have said two traders can take the same signal and one will win and the other will lose thier shirt. i like being here to much to watch people i like lose money because they just are not ready for playing charts instead of signal services with entry, stop and profit all in one. i have been working for a couple of months on a websight, many of you here will get it free if and when its ready. jim
bring on the charts Jim! people will probably get mad at you because they can't take responsibility for their own actions like subscribing to signal services, but who cares i'm learning a ton and i hope you keep helping us all out. also i look forward to the website, i hope it isn't if but when! thanks alot for all your efforts.
tek
  • #76
  • Jun 20, 2005 8:20pm Jun 20, 2005 8:20pm
Jim,

The charts and information is fantastice. A great education. Looking forward to more charts. Can't wait for the website. Thanks for the generous education. I feel I have advanced my trading skills dramatically in the last couple of days. I hope you have the energy to keep it up. Heaven knows many of us out here need it.

Thanks again. Jim
  • #77
  • Jun 20, 2005 8:39pm Jun 20, 2005 8:39pm
Quoting james16
good question but no i really do not use anything to filter as you say. my exp has been if you play them smart you are going to make money. the problem i have had with trying to filter is when i find one, it works for a while and then due to something it stops, so i dont use them. jim
Thanks for your wisdom, Jim! That's exactly what I've been experiencing, so I have been trying to simplify my charts.
Whew, I'm not going crazy after all! The one thing that I do use though is Murrey Math lines but only for support and resistance.
I love the simplicity of your approach, elegant, but simple. You give us all something to strive for. Candy
  • #78
  • Jun 20, 2005 11:58pm Jun 20, 2005 11:58pm
New to FX - can't thank you enough buddy!
change the future, not the past
  • #79
  • Jun 21, 2005 4:06am Jun 21, 2005 4:06am
Quoting james16
thank you sir, no hurry, i already know it works
that makes two of us

its still always fun to look at some backtest results!
Relax and be happy.
  • #80
  • Jun 21, 2005 6:00pm Jun 21, 2005 6:00pm
new chart
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