Keep taking CT trades, I need more money ![](https://resources.faireconomy.media/images/emojis/64/1f60a.png?v=15.1)
![](https://resources.faireconomy.media/images/emojis/64/1f60a.png?v=15.1)
Where can I learn more about Price Action like those in James16 charts? 9 replies
DislikedThanks for the broker tip. less than one pip spread would make a big difference. I traded the Friday EURUSD session on 5 min. as well and even took some of the same trades you posted in your chart. The one spike out of that bull flag moved 30 pips in less than 3 seconds. That's the kinda stuff that scares the hell outa me trading 5 min charts. I get emotional and take trades that are substandard or trade bigger size than I should after losses. I know thats the kind of trading that will take me out of the game. The best trades I made were with the trend. Even had one that went 40 to 1. I'm still on demo Till I can prove myself profitable for 3 months like James talkes about.
Question If you take profit at 10 pips and call it a day. When do you take a loss? at - 10 pips? Then do you continue to trade after a loss or no? Thanks for the chart I was fun seeing someone else traded the friday session and took some of the same trades.
JasonIgnored
DislikedI would obviously wait for the break of the PB and see if it retraces to the left eye level.Ignored
DislikedYa I did not catch a bottom or top but I had 1 trade today for +10 and had about 5 good ones I could of got if I needed to catch up off a loss. EnjoyIgnored
Disliked~~
I would obviously wait for the break of the PB and see if it retraces to the left eye level.Ignored
DislikedPleased to read this comment. I was beginning to think I was the only one that thinks it takes 3 bars to make a pin bar. (If the 3rd bar has not formed how do you know the 2nd bar is a pin bar?)Ignored
Dislikedbreak, retrace, and then wait for the break or get in on the retrace? sorry, this always mixes me up ... thanks jarroo.Ignored
DislikedThe PB is not validated until it breaks. So, a Pin bar is not a Pin Bar until it breaks. You can enter before the break (at a retrace to the left eye) but its risky. I'm clear on this ...
After it breaks the top, we then look for a possible retrace. ... It's here where I start getting confused ... i.e., 1) it breaks we enter or, ... 2) it breaks we wait for it to retrace and then we enter ... ??Ignored
DislikedThere are numerous ways to trade price action
We can play a break of the bar(the most common method, conservative, lets us know the bar is valid)
We can enter right when the bar forms(more aggressive, slightly better entry achieved thus a slightly larger position size, bar not valid yet).
We can enter on a retrace before the bar breaks. That is we can enter as price retraces against the bar(to a fib, left eye, s/r). We get a better position size(smaller stop), more aggressive, price has not yet confirmed the bar by breaking.
Then there are other various ways. Such as; Waiting for a break of the bar. Then still waiting again for another retrace to get back in. Again now the bar is valid, but we are trying to get a better price in, we might never get that price as it will never come back for the retrace.
As you can see there are good and bads to each of these. It is going to come back to your personality and testing you have done for what will work best for you. I prefer the conservative nature of waiting for a break, simple and works.
Hope that clears it up
MikeIgnored
DislikedI love the charts you share, showing how PA works on the very short time frames. I don't have the time to follow the 5 minute charts at this point in my life (due to working full time), but I love seeing how this can work on the short time frames.
It appears you are using a 21 EMA, BB, and another MA.
What indicators are you using?
Thank you for your time and help!Ignored
Dislikedabsolutely.... it doesn't take much before i get derailed!always good to have you help us noobs get back on track!!!
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Dislikedi am totally lost ... could you please elaborate on your entry/exit and how we would incorporate this into j16 trading?Ignored
DislikedHey fxgrinder. Along with clicking the "James16" name and reading all the posts and charts, hit that "mbqb11" name too and do the same.
You'll be glad you did.Ignored
DislikedThis pin is not a failed pin because it was never validated. A pin is only tradeable after the high has been broken per James' rules.Ignored
DislikedAbout 13346 post HipsterPipster in his post says:
I dont understand why this pinbar in post 13346 is not valid. Can You share Your comments ?
Thank You.
Best wishes,
TomIgnored