james16 Chart Thread | Page 498 | 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

  • #9,941
  • Apr 10, 2008 3:49am Apr 10, 2008 3:49am
Quoting rob4u
there was a divergence on the 4h chart so I took the daily USDCHF pinbar. Took back half the profit today and moved stop to break even.
Will try to close it @ 0.9897
Hmmmm, well I decide to close it now @ 0.99120....... maybe to early but a good trade....
Attached Image
  • #9,942
  • Apr 10, 2008 9:06am Apr 10, 2008 9:06am
In a trade @ 1.5870 with tight stop
  • #9,943
  • Apr 10, 2008 9:38am Apr 10, 2008 9:38am
Need to post something again

Some really great setups...and thanks to the EURGBP time machine, GJ showed the same setup as EJ did around 2-3 days before, to illustrate the potential

I really like these BEOB, IB combos(remember USDCAD?).

GBPCHF had the same thing as GJ parallel iirc. And as I wrote, timemachined EJ, just with a doji at the .618 first.

Was originally in GJ, however closed it at around 0 as price came back the very hour I had to go to sleep and I did not want to leave it unattended 8 hours. Turns out it fell 1-3 hours later. Oh well. Got the UJ(not shown here) and EJ IBs however.
Might be the next step for USDJPY finally.

The warning for these came via S&P, attaching that as well.

There, all in a day's work
Attached Images
Trust price. Know yourself.
  • #9,944
  • Apr 10, 2008 9:54am Apr 10, 2008 9:54am
  •  krue
  • | Joined Mar 2008 | Status: finger scares cat, power of illusio | 410 Posts
It is a very heavy day today for me. I am in trade now, a nice looking Pin Bar for EURCHF pair. I am so sturbon and idiot, kept trying to catch the falling knife on its way down, it's really a sharp falling. I doubled my position every session at eahc fib level from 38.2,50,61.8 to 76.4 and stopped out each time till the last one, 76.4, size from 0.1 lot, down to 1.2 lot now. I knew, problematic,suicide, whatever, but, simply could not control the beast deep in mind, I believe myself must be sort of mentally sick,but, what can I do then, totally out of control, it is not first time, many times, but, simply can do nothing. I have been so convinced the uptrend short term line, believed in so much it must be stop there near the uptrendline in conjunction with the fib, but, unfortunately, the price went down quickly. the last entry was even also an early play, I meant before the close of the Pin. if this pin bar failed later on, that will be a big hurt.nontheless, it seems paying off now. I plan to take 100pip out for 1.2 lots, that is bearly 80% of my capital now. I knew,it's problematic, but, all the thing I have been waiting and hunting is the decisive move where one could believe in the high probability and a big shot,crazy play though.

And, I am very sorry to put this here, I am overloaded today, I have to talk, but, here seems the only place I can and willing to talk. so, pardon me, put thing here. thank you for your patience
Attached Image (click to enlarge)
Click to Enlarge Name: ec_h4_apr_dev.10.08.gif Size: 18 KB
  • #9,945
  • Apr 10, 2008 10:48am Apr 10, 2008 10:48am
Quoting raczekfx
In a trade @ 1.5870 with tight stop
1/3 off the table (120), rest at BE+2, hopefully we get tl break soon.
Attached Image
  • #9,946
  • Apr 10, 2008 10:57am Apr 10, 2008 10:57am
Quoting raczekfx
1/3 off the table (120), rest at BE+2, hopefully we get tl break soon.


Nicely done, as always raczekfx!
Trust price. Know yourself.
  • #9,947
  • Apr 10, 2008 11:17am Apr 10, 2008 11:17am
Short countertrade with small account risk. I get very good results on demo using j16 with trend/pivot lines.


http://img256.imageshack.us/img256/6...hortuf9.th.gif
  • #9,948
  • Apr 10, 2008 11:28am Apr 10, 2008 11:28am
Quoting raczekfx
1/3 off the table (120), rest at BE+2, hopefully we get tl break soon.
thanks Seek... don't you think it's kind of crazy to see those 200ps daily ranges on euro.. ? It's not a complain though..

I'd love to see retrace to 5800/20 again to confirm my train of thoughts... we'll see. To be completely honest I felt confident with this short by observing PA on gold and oil after mr. stubborn-trichet speech... plus all the stop orders buildup from jacko's turtles... It was worth giving a try...
hope you did well.
  • #9,949
  • Apr 10, 2008 11:40am Apr 10, 2008 11:40am
just wanted to say thanks to james16.

i've been reading your posts...reading and reading...it is a lot of information to swallow.....but as we all know it is more than very useful.

i also just signed up to your website....im having a feast while im in there with all the great information.

One thing i took from your website and posts was to: NOT LOOK FOR TRADES TO ENTER...BUT LOOK FOR TRADES NOT TO ENTER.

I've started live trading last year Dec 2008 after dummy trading for months. Due to dumb luck, I increased my account 40% in just under 3 weeks......got cocking and l lost 70% of my total at that point within 4 more weeks.....then decided to get more educated to forex. Since then, i have been able to recoupe exactly what i've started with 5K.

Anyway.....last night i took your advice....USED CONFLUENCE, and suddenly **Im up +290 pips (on 2 eur/usd trades)
**Im up >+110 pips (on 1 eur/cad trade)
**and im also in a chf/yen trade at the moment that "almost" sure that im going to conquer. its been fighting a losing battle i think. iv been within 10 pips for almost an hour ( was up 20 pips at one time)

I gained so much from your forums and so far with your website..

Thanking you isn't enough....so, thanks a million

Kevin
  • #9,950
  • Apr 10, 2008 12:42pm Apr 10, 2008 12:42pm
Quoting krue

And, I am very sorry to put this here, I am overloaded today, I have to talk, but, here seems the only place I can and willing to talk. so, pardon me, put thing here. thank you for your patience
Better out than in, asking for help is the best way to get it.
You are displaying the traders worst enemy, Overconfidence in a direction. Thinking you know what the market is doing without reason.
Take a break.
I mean it take a break.
The market will be here when you get back.
Chances are you are still going to be a desparado if you continue right now.
Not sure how you trade but it sounds like you need to get off intraday totally for now, relax and learn to make effortless profit from daily charts alone.
Consistancy is what you need , yes smaller position sizes, yes a little longer, but you are not going to make it all back that quick so get with the long term.
I know how you feel most of us have learned the hard way. You are not alone.
All the best
SS
GOD IS NOT SHORT OF CASH
  • #9,951
  • Apr 10, 2008 12:50pm Apr 10, 2008 12:50pm
Yes Krue, Swami its rigth, we all been there and we may still fall there every now and then... i personally been there more times than i care to remember.
Just take it easy like Swami advised you. Take a few days and stick to daily if u can.

U did well in posting, we are here to learn and support each other.

My best regards to you mate.

Matty
  • #9,952
  • Apr 10, 2008 12:55pm Apr 10, 2008 12:55pm
Well said Swami, and I know there are going to be hundreds that need to hear this advice. James doesn't just go around saying trade higher timeframes first, use proper money mgmt, and treat this like a business for no reason. He says it because these are the steps that a trader needs to take in order to put themselves into the right position to last in this business.

For those that have found light in what James teaches regarding PA, you will find just as much light in his words surrounding all areas of this business. Listen to it, and put it into practice starting now.

It isn't easy, but it is worth it.

Have a great end to the week everyone

Mike
  • #9,953
  • Apr 10, 2008 1:36pm Apr 10, 2008 1:36pm
Quoting dread
just wanted to say thanks to james16.

i've been reading your posts...reading and reading...it is a lot of information to swallow.....but as we all know it is more than very useful.

i also just signed up to your website....im having a feast while im in there with all the great information.

One thing i took from your website and posts was to: NOT LOOK FOR TRADES TO ENTER...BUT LOOK FOR TRADES NOT TO ENTER.

I've started live trading last year Dec 2008 after dummy trading for months. Due to dumb luck, I increased my account 40% in just under 3 weeks......got cocking and l lost 70% of my total at that point within 4 more weeks.....then decided to get more educated to forex. Since then, i have been able to recoupe exactly what i've started with 5K.

Anyway.....last night i took your advice....USED CONFLUENCE, and suddenly **Im up +290 pips (on 2 eur/usd trades)
**Im up >+110 pips (on 1 eur/cad trade)
**and im also in a chf/yen trade at the moment that "almost" sure that im going to conquer. its been fighting a losing battle i think. iv been within 10 pips for almost an hour ( was up 20 pips at one time)

I gained so much from your forums and so far with your website..

Thanking you isn't enough....so, thanks a million

Kevin
Care to share your confluencing chart, dread?
Indicators show the past. Price Action "Indicates" the future.
  • #9,954
  • Apr 10, 2008 4:03pm Apr 10, 2008 4:03pm
what do you think about all the PBs on yen crosses today? Are they good setups? My fear is that this was an artificial move and tomorrow the market will resume its normal trend, which is down.
We leave no soldier behind.
  • #9,955
  • Apr 10, 2008 5:18pm Apr 10, 2008 5:18pm
Quoting gagiul
what do you think about all the PBs on yen crosses today? Are they good setups? My fear is that this was an artificial move and tomorrow the market will resume its normal trend, which is down.
It’s hard to tell. it all depends on how equities and dollar behave. If dollar strengthens more, carry trades should resume their march higher. There is constant struggle between PPTeam and sellers in equities in the last few days. If dow loses 12,450 support, I’d think yen crosses will suffer. Just watch the $$$ and dow. We could be witnessing trend change on fiber today although it’s much too early to be sure, but if that happens, carries will get the green light imho. I'm moving my eu sl to 5830 (above 50fib) just in case..
many pips
Attached Image
  • #9,956
  • Apr 10, 2008 5:34pm Apr 10, 2008 5:34pm
Quoting raczekfx
It’s hard to tell. it all depends on how equities and dollar behave. If dollar strengthens more, carry trades should resume their march higher. There is constant struggle between PPTeam and sellers in equities in the last few days. If dow loses 12,450 support, I’d think yen crosses will suffer. Just watch the $$$ and dow. We could be witnessing trend change on fiber today although it’s much too early to be sure, but if that happens, carries will get the green light imho. I'm moving my eu sl to 5830 (above 50fib) just in case..
many pips
thanx a lot raczek. Can u pls tell me which broker with metatrader features DOW charts too?
We leave no soldier behind.
  • #9,957
  • Apr 10, 2008 5:46pm Apr 10, 2008 5:46pm
I got in on the Daily EURCHF and the Daily USDJPY.

I was not sure how to trade the Daily with all the news released today, so I kept my Units (Oanda) small, so that my stop losses are very reasonable.
  • #9,958
  • Apr 10, 2008 5:50pm Apr 10, 2008 5:50pm
Quoting gagiul
thanx a lot raczek. Can u pls tell me which broker with metatrader features DOW charts too?
north fianance

gold and silver also
Don't chase the market, Let the market come to you
  • #9,959
  • Apr 10, 2008 5:57pm Apr 10, 2008 5:57pm
Do you guys trade Dow futures, or do you just follow them for a clue into the Forex markets?
  • #9,960
  • Apr 10, 2008 6:07pm Apr 10, 2008 6:07pm
Quoting Tmac
north fianance

gold and silver also
thanx for the info, i got Northfinance now, but I have only gold and cant find the Dow. whats the code for the DOW, something like # something....?
We leave no soldier behind.
14 traders viewing now