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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

  • #11,241
  • Jun 13, 2008 8:14am Jun 13, 2008 8:14am
Quoting tommyd
Hey jattputt where did you get that snazzy Stat Monitor across the bottom of your chart, care to post it??
would be nice
to use...


Hi Tommy, In the spirit of sharing here you go..

jatt
Attached File(s)
File Type: mq4 Status Monitor V1.2.mq4   8 KB | 1,118 downloads
File Type: mq4 Bid_View2.0.mq4   18 KB | 961 downloads
Find an Edge. Only way to succeed in this business.
  • #11,242
  • Jun 13, 2008 8:54am Jun 13, 2008 8:54am
Quoting Vensik
If you got in off the daily Pinbar, it looks like the entry would have been around 9600? The price went to 9800. If you were up 200+ pips, this shouldn't have turned into a loser. The change of SL should have been to lock in profit. The market gave you a nice support to move your stop under while you were in profit at the 9670 area. I'm sorry you lost, but this is a money management issue not the trade itself. Good luck man.


Edit: BTW, I'm not a senior Pinbar trader. However, like I said. From my point of view this was a trade management issue, not a pinbar issue. Which I do feel qualified to comment on.
I AM a senior member, and have to agree with this post 110%. If nothing else, your stops should have been set at break even. (Although that would be worst case scenario.)

Certainly, some profits should have been taken in.

Live and learn.

Clockwork
  • #11,243
  • Jun 13, 2008 9:04am Jun 13, 2008 9:04am
  •  2mas
  • | Joined Apr 2007 | Status: Thanks to James 16 family | 89 Posts
Thanks guys for the replies. I think you are right; it wasn't the Pb, it was the greeeeeed to have a very early entry on that weekly PB. I didn't stick to the plan of Daily PB.
Well, I guess I am paying Fiji's sec a long visit this weekend

Thanks again and have a great wkend everybody.
  • #11,244
  • Jun 13, 2008 9:52am Jun 13, 2008 9:52am
Quoting 2mas
I think you are right; it wasn't the Pb, it was the greeeeeed to have a very early entry on that weekly PB.

Well, I didn't want to say it, hehe. Yes you changed your plan mid-trade to try to capture more money, thats the mental greed side of this business.

Plan your Trade, Trade your Plan. It works.

Hope you have a good weekend man.
The basis of a democratic state is liberty. ~ Aristotle
  • #11,245
  • Jun 13, 2008 11:03am Jun 13, 2008 11:03am
Having spotted a couple of pinbars recently, they both failed. Firstly, were these bars good pinbars? The usdchf appeared to be rejecting a down trendline and the usdcad was at a 50-68% retracement but is there something I've obviously missed? Or are they decent bars in a good position but just were a couple of the ones that didn't work?

Just trying to move on a bit further with these and any pointers would be appreciated
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  • #11,246
  • Jun 13, 2008 11:08am Jun 13, 2008 11:08am
Quoting jattputt
Hi Tommy, In the spirit of sharing here you go..

jatt
thank you very much, It is appreciated.
  • #11,247
  • Jun 13, 2008 11:37am Jun 13, 2008 11:37am
Quoting knossos
Having spotted a couple of pinbars recently, they both failed. Firstly, were these bars good pinbars? The usdchf appeared to be rejecting a down trendline and the usdcad was at a 50-68% retracement but is there something I've obviously missed? Or are they decent bars in a good position but just were a couple of the ones that didn't work?

Just trying to move on a bit further with these and any pointers would be appreciated
Once again, wouldn't call myself a PB expert. However the first one was a 4hr Pinbar and showed atleast 30-35 pips profit. If your going to trade 4hr pin's be happy with what you can get. It came back up and formed a little indecision doji, but still gave you the opportunity to get out with 20+ pips profit after that doji candle closed. Best bet would have been to take a majority of the trade off the table and lock the rest in if you were still hoping for a major down move. The day chart was in a sideways market, and gave no real indication as to the trend at the time, but the Pinbar created atleast a .382 fib retracement and came close to a .50 ratracement. If your going to take 4hr trades, be sensitive to signs that it may be time to get out.

The second PB wasn't a very good looking PB. I would have taken the day charts as an example and still have my stops above the Daily PB on the USD/CAD. If that breaks, I can't complain either as I have already taken profit on my first round of lots. The daily pattern paid out.
The basis of a democratic state is liberty. ~ Aristotle
  • #11,248
  • Jun 13, 2008 12:09pm Jun 13, 2008 12:09pm
This looks like an interesting Pin bar developing at a PPZ area; Again there is an additional support factor; a weekly in Pin the same direction!!

Any comments?

TradeStar
Attached Image (click to enlarge)
Click to Enlarge Name: euraud.gif Size: 14 KB
Haste not to Enter AND Haste not to Exit !-TradeStar
  • #11,249
  • Jun 13, 2008 12:21pm Jun 13, 2008 12:21pm
I don't like the size of the PB compared to the last Bearish candle, however the tip of that PB is the exact point my 50 and 100MA converge to cross, combined with the support you mentioned that's atleast a strong area.
The basis of a democratic state is liberty. ~ Aristotle
  • #11,250
  • Jun 13, 2008 3:24pm Jun 13, 2008 3:24pm
We've got nice Beovb on weekly and ppz around 1.5280 on daily..
How about a bounce to 5560...?

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  • #11,251
  • Jun 13, 2008 3:47pm Jun 13, 2008 3:47pm
Hi, everybody!
Sorre for off topic, but I thought it wouldn't be much for a weekend to talk about something else, just not to analyze charts...

I'm quite new to forex - just more than half a year. I've started my journey with technical analysis basics - you know, indicators and stuff like that...

Then I thought to find something called EA to make money for me...silly boy. Maybe there is, but not for a newbie and for free.
Then I started to look for "systems", tried a couple on demo - like DM song - it's no good... Until I found system called "OZfx daily"

Sorry, I know, that he is banned now form FF and this is not a promotion of any kind for his stuff... The story goes on...

I've tried it and found, that in some cases there is possibility to earn some money. And the come James16 thread. I've read it, learned it and now I try to do trading "naked".

Now I thinking - what is the difference between such OZfx system and James lessons? Both are not perfect - you need to watch charts, indicators for some criteria to place trades, but there are not 100% guarantee.

I'm still in USD/CAD short based on Wednesdays PIN, so I'm not dead yet http://www.forexfactory.com/images/icons/icon7.gif But it was so perfect PIN ( as for me), I can't believe it will not work out.

James, if you read this, please, do any comments...

Happy weekend!!!
  • #11,252
  • Jun 13, 2008 3:58pm Jun 13, 2008 3:58pm
yeah ! Ozfx does 2000pips a week and 3000pips am month..roflmao

don`t waste ya time..nobody here will subscribe *g*
  • #11,253
  • Jun 13, 2008 4:27pm Jun 13, 2008 4:27pm
Quoting AidanPryde
yeah ! Ozfx does 2000pips a week and 3000pips am month..roflmao

don`t waste ya time..nobody here will subscribe *g*
I don't see where he told people they should subscribe or that Oz works better than this system. I wouldn't be too quick to throw him under the bus yet.
The basis of a democratic state is liberty. ~ Aristotle
  • #11,254
  • Jun 13, 2008 5:22pm Jun 13, 2008 5:22pm
Quoting Vensik
I don't see where he told people they should subscribe or that Oz works better than this system. I wouldn't be too quick to throw him under the bus yet.
yeah ,u might be right and i am really a bit too fast with my opinion here..

BUT google Ozfx and visist the site..and first thing is to laugh hillariously..

I cannot in any way understand why i would name such in a post of mine if i am really serious about learning james16 stuff..

I might be wrong! if i am, I will gladfully eat my hat!

EDIT: okay i reviewed the sit and only then got it ringing that so far everything seems to be for free..also the way the pips are counted are quite misleading..
It still smelss fishy IMHO but i assume it innocent until proven guilty !
  • #11,255
  • Jun 13, 2008 7:36pm Jun 13, 2008 7:36pm
Quoting initex
Hi, everybody!
Sorre for off topic, but I thought it wouldn't be much for a weekend to talk about something else, just not to analyze charts...

I'm quite new to forex - just more than half a year. I've started my journey with technical analysis basics - you know, indicators and stuff like that...

Then I thought to find something called EA to make money for me...silly boy. Maybe there is, but not for a newbie and for free.
Then I started to look for "systems", tried a couple on demo - like DM song - it's no good... Until I found system called "OZfx daily"

Sorry, I know, that he is banned now form FF and this is not a promotion of any kind for his stuff... The story goes on...

I've tried it and found, that in some cases there is possibility to earn some money. And the come James16 thread. I've read it, learned it and now I try to do trading "naked".

Now I thinking - what is the difference between such OZfx system and James lessons? Both are not perfect - you need to watch charts, indicators for some criteria to place trades, but there are not 100% guarantee.

I'm still in USD/CAD short based on Wednesdays PIN, so I'm not dead yet http://www.forexfactory.com/images/icons/icon7.gif But it was so perfect PIN ( as for me), I can't believe it will not work out.

James, if you read this, please, do any comments...

Happy weekend!!!
hi initex..

Nothing is perfect in this world, but I can't remember last time I had a losing week using j16 PA. Trades yes, weeks no....
I have a little project in the pf called 'MI4' (mission impossible 4), where I post all my trades from one of my ultra small accounts created for this purpose at the end of each week. Started with... $4.84 and still alive after 8 weeks with almost 3,000% account gain....

Re: cad pin... I’m not going to explain in details here, since it’s beyond what we can talk about on the public forum, but James has made several excellent videos and live conference recordings (yes, they’re available only if you’re a member), which explain exactly how he trades and where he would take profit. I’d say that for those who follow his methods, this pin was profitable on partial position and the rest was stopped out at BE+ some….

You would have to excuse my ignorance, but I really don't know what ozfx is, nor I care to find out.... .

Enjoy your weekend and pips...

Quoting Vensik
I don't see where he told people they should subscribe or that Oz works better than this system. I wouldn't be too quick to throw him under the bus yet.
public 'j16 chart tread' is not a system. It's a method or a tool if you will, that can be used to better up your system. Although James described several systems, he uses and teaches on the private site, I don't recall it was ever mentioned here..
  • #11,256
  • Jun 14, 2008 1:35pm Jun 14, 2008 1:35pm
Not sure if I'm right here, so please correct me if I'm wrong. When combining the last 3 candles on the 4hr eurusd, it looks like we have a pin that would need to see 1.5405 taken out.

There is a good level of support at this area which coincides with the 38.2 retracement of the last upswing on the daily.
Attached Image (click to enlarge)
Click to Enlarge Name: eurusd.gif Size: 33 KB
If it's too good to be true, it probably is.
  • #11,257
  • Jun 14, 2008 2:16pm Jun 14, 2008 2:16pm
Just stopped by the site.... much better than the last time I looked (3 years ago? lol)

Very good design.... easy to navigate.... no frills

A+
  • #11,258
  • Jun 15, 2008 11:56am Jun 15, 2008 11:56am
Wow, I finally finished reading this entire thread. Just wanted to thank everyone who has contributed and helped others.

I've been learning FX for over a year and have recently climbed out of the indicator trap. I knew I would eventually end up reading this J16 thread but as a newbie it was a very daunting task to take head on.

Anyway thank you to all who have helped make this thread what it is today and I hope to be a regular contributor to this thread. Take care all and happy Fathers Day!
  • #11,259
  • Jun 15, 2008 1:00pm Jun 15, 2008 1:00pm
my hats off to you stoli.

i dont know how many people actually do this but they certainly have my respect.

jim

Quoting stoli7188
Wow, I finally finished reading this entire thread. Just wanted to thank everyone who has contributed and helped others.

I've been learning FX for over a year and have recently climbed out of the indicator trap. I knew I would eventually end up reading this J16 thread but as a newbie it was a very daunting task to take head on.

Anyway thank you to all who have helped make this thread what it is today and I hope to be a regular contributor to this thread. Take care all and happy Fathers Day!
  • #11,260
  • Jun 15, 2008 5:54pm Jun 15, 2008 5:54pm
what do you people think about the last daily PB on pound? same area like the previous one, strong support, although not very protuberant.
i got a buy order above at 1.9520, stop below the PB low.
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