james16 Chart Thread | Page 677 | 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

  • #13,521
  • Sep 7, 2008 8:41pm Sep 7, 2008 8:41pm
After reading 30+ PM's I am going to post here. All 30 never read my charts and just skimmed it over, if you are lazy I will give you *0* help, it's not worth helping someone who is going to half ass this I have better things to do. If you put in the effort I will help you for free as best I can, I don't need the money but I value my time.
Keep taking CT trades, I need more money
  • #13,522
  • Sep 8, 2008 8:37am Sep 8, 2008 8:37am
Hi guys. I am currently using the DBLHLC and DBLLC on a 5 minute chart with success. I know there is a private forum I can join but would like to know if somewhere there is a summary for this forum? If so a link would be handy.

Gaz
  • #13,523
  • Sep 8, 2008 9:36am Sep 8, 2008 9:36am
Gaz,

http://james16group.us/

Good Luck!
  • #13,524
  • Sep 8, 2008 1:16pm Sep 8, 2008 1:16pm
Please you guys, I am looking for simple expert advisor for MT 4, only thing i need is moving average crossover for testing only, can you help me?I cant found it
  • #13,525
  • Sep 8, 2008 1:37pm Sep 8, 2008 1:37pm
There is a section somewhere on this site for that type of thing, but some good advice for u, don't bother with expert advisor like that, it will only lose money long run.
  • #13,526
  • Sep 8, 2008 2:12pm Sep 8, 2008 2:12pm
Anyone else in the GBP/JPY pinbar? I got in early and my T/P hit before I could reset. The price dropped back down the my initial buystop, so I went in again. Should I had done that? Should I lower my stoploss more than the normal 50 I have?
  • #13,527
  • Sep 8, 2008 2:30pm Sep 8, 2008 2:30pm
Depending on the closes, looks like we might have some bearish outside vertical bars on Cable and Euro. Any takers? If they do form, I'll be looking for a break and a retrace with bearish looking formations on the 4 hour charts.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: cablebeovb_chart.gif Size: 9 KB
Click to Enlarge Name: eurobeovb_chart.gif Size: 9 KB
"Don't trade to trade . . . trade to win." - James16
  • #13,528
  • Sep 8, 2008 3:08pm Sep 8, 2008 3:08pm
Quoting Flem26
Depending on the closes, looks like we might have some bearish outside vertical bars on Cable and Euro. Any takers? If they do form, I'll be looking for a break and a retrace with bearish looking formations on the 4 hour charts.
Hi Flem,

I think those outside bars look good. Don't quote me but I remember Jim saying something along the lines that you could combine Sunday's bar to last Friday's bar to form one single bar. That would still give you those outside bars.
  • #13,529
  • Sep 8, 2008 3:26pm Sep 8, 2008 3:26pm
Quoting Crown
Hi Flem,

I think those outside bars look good. Don't quote me but I remember Jim saying something along the lines that you could combine Sunday's bar to last Friday's bar to form one single bar. That would still give you those outside bars.
Hi Crown,

Yeah I think I remember Jim mentioning that before too. Thanks.
"Don't trade to trade . . . trade to win." - James16
  • #13,530
  • Sep 8, 2008 3:28pm Sep 8, 2008 3:28pm
Why do u say this? i think it's idea, test some moving averages, then tune price action and make my own system .

Quoting Mr Smith
There is a section somewhere on this site for that type of thing, but some good advice for u, don't bother with expert advisor like that, it will only lose money long run.
  • #13,531
  • Sep 8, 2008 3:34pm Sep 8, 2008 3:34pm
Quoting Jankone
Why do u say this? i think it's idea, test some moving averages, then tune price action and make my own system .

I have only seen 1 system work and it sold to a firm for 10 million $. If these systems worked we would have a lot of people with a lot of money on here but we don't.
Keep taking CT trades, I need more money
  • #13,532
  • Edited 4:01pm Sep 8, 2008 3:44pm | Edited 4:01pm
ok, once again , i dont want auto system! I want EA for TEST for some test and then TUNE exits and entry with price action, NOT EA! I want to make my tradeplan, and trade on my own!


Quoting Ryanmcd
I have only seen 1 system work and it sold to a firm for 10 million $. If these systems worked we would have a lot of people with a lot of money on here but we don't.
  • #13,533
  • Sep 8, 2008 4:03pm Sep 8, 2008 4:03pm
Quoting mbqb11
That is my least favorite way, but this is what I call sometimes buying a failed pinbar. So if todays bar is a pinbar, I wouldn't short it, rather look to play a break of the high(a failed pinbar).
Mike sorry, but i read it many times and i can't get it. Could you explain with a example? If you can't find one, a example made in Paint Brush with 2, 3 bars is enough.


sorry for bothering you again.

best regards.
  • #13,534
  • Sep 8, 2008 4:54pm Sep 8, 2008 4:54pm
Quoting Flem26
Depending on the closes, looks like we might have some bearish outside vertical bars on Cable and Euro. Any takers? If they do form, I'll be looking for a break and a retrace with bearish looking formations on the 4 hour charts.
Don't think I'll take the cable, as it's close is not outside of the previous bar's low. Adding to the euro position though if it breaks to the downside.
Hindsight is 20/20
  • #13,535
  • Sep 8, 2008 5:23pm Sep 8, 2008 5:23pm
Quoting Ryanmcd
After reading 30+ PM's I am going to post here. All 30 never read my charts and just skimmed it over, if you are lazy I will give you *0* help, it's not worth helping someone who is going to half ass this I have better things to do. If you put in the effort I will help you for free as best I can, I don't need the money but I value my time.
Hello Ryan, I sent you a pm saying thanks for your charts. To say I never read your charts is not correct. You use the 50 simple MA and the 21 EMA to define the trend. You use PA to buy dips/ sell rallies. If the PA set up ie pinbar etc is below the 21 EMA/bb you pass on the trade if trend is up. IF the setup is above the 21 EMA/bb and Trend is down you pass on the trade. You only trade counter trend with a divergence with RSI. RSI set to 6, you also like to see the bb flatten out. You set the bb to 18,2. When you counter trend trade you take profit at 10 pips. When you trend trade you take profit at 10. After you win 10 you stop for the day. I know you have some loosing days of neg 20 and asume that is your maximum loss for a day before you quite. You trade till one of these levels is hit.

Last but not least you pay attention to the time of day. ie 2:30 pm after lunch est time. In a final effort to prove to you that all us newcomers to this thread are not lazy I have chart tab named "RyanMCD" I will try to post. Never posted a chart here so please bear with me

Jason
Attached Image (click to enlarge)
Click to Enlarge Name: ryanmcd.gif Size: 25 KB
May the fish in your stream of life always bite.
  • #13,536
  • Sep 8, 2008 5:37pm Sep 8, 2008 5:37pm
Quoting giraia_br
Mike sorry, but i read it many times and i can't get it. Could you explain with a example? If you can't find one, a example made in Paint Brush with 2, 3 bars is enough.


sorry for bothering you again.

best regards.
Basically we are just selling a new high/low on a breakout trade.

So here on the nzd/jpy. Price broke out and the pinbar was formed and also part of the pullback(marked by the red x). Now say we get no good price action at the pullback area(former support trendline) where is where I like to look for Price action. We can now also just sell a new low of the breakout, or in other words the low of the pinbar, which would be a "failed pinbar". I rarely trade these but sometimes it is the only way in a breakout I have been watching.

Mike
Attached Image (click to enlarge)
Click to Enlarge Name: a2.gif Size: 14 KB
  • #13,537
  • Sep 8, 2008 5:40pm Sep 8, 2008 5:40pm
Quoting cosgrove
Don't think I'll take the cable, as it's close is not outside of the previous bar's low. Adding to the euro position though if it breaks to the downside.
My Interbank Feed daily bar closes in about an hour and 22 minutes, so it's not over yet for the Cable bearish outside bar. If it becomes one or not, doesn't matter to me. I can just focus on the Euro.
"Don't trade to trade . . . trade to win." - James16
  • #13,538
  • Sep 8, 2008 5:41pm Sep 8, 2008 5:41pm
Follow up, I did not use RSI on those trades I just posted. Only added it to show ryanmcd that I understand the theory behind it.

Mike I noticed that you used a delayed entry on your pinbars. Do you do this to increase win/loss ratio? Or just because you like to watch the price action after the break before you make your move?

Thanks for all the helps, back to reading this thread...

Jason
May the fish in your stream of life always bite.
  • #13,539
  • Sep 8, 2008 5:51pm Sep 8, 2008 5:51pm
Quoting Jankone
Why do u say this? i think it's idea, test some moving averages, then tune price action and make my own system .
sorry about that, I misunderstood you
  • #13,540
  • Sep 8, 2008 6:01pm Sep 8, 2008 6:01pm
Quoting aSandman
Follow up, I did not use RSI on those trades I just posted. Only added it to show ryanmcd that I understand the theory behind it.

Mike I noticed that you used a delayed entry on your pinbars. Do you do this to increase win/loss ratio? Or just because you like to watch the price action after the break before you make your move?

Thanks for all the helps, back to reading this thread...

Jason
Hey Jason,

My last post was a bit more advanced technique in terms of playing pinbars and PA with breakouts.

Normally I simply play a break on the next bar, and keep it very simple

Best,

Mike
40 traders viewing now