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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

  • #13,621
  • Sep 15, 2008 9:53am Sep 15, 2008 9:53am
Quoting jarroo
For those that asked. Period converter.
oh no!!! I am crazy enough with 9 TFs

what i want to know is about double pins. I still confuse with they. Some more explanation? Thansk in advance
  • #13,622
  • Sep 15, 2008 11:41am Sep 15, 2008 11:41am
Quoting jarroo
I believe your referring to the New Zealand. Yes that's a Double Bar High Lower Close off a PPZ and running into a PPZ. What can break through a PPZ? I would only wait for Good 'Ole Price Action to break through. Good eye.
Jarroo, Thanks for the correction Up all night till 5 am watching the open follow threw and all. Double Bar High Lower Close! Thanks for the Period converter. I had been doing it manual in my head . When I saw that trade I got excited and could not wait to pull the trigger. Now how do i put that in a EA? Great trade on that 8 hour pin!

Jason
May the fish in your stream of life always bite.
  • #13,623
  • Sep 15, 2008 12:00pm Sep 15, 2008 12:00pm
I love 1 hour work days, just a FYI I went to 20 /20 for stop and profit target because of the bigger moves. PB @ 8:15 EST short made my day, Again trend = down = too easy = People like to be a hero and catch a CT trade but lose lots of money being the hero.
Keep taking CT trades, I need more money
  • #13,624
  • Sep 15, 2008 12:18pm Sep 15, 2008 12:18pm
I know this is too gump for most of ya but it's just that easy. There are many hereabouts who either do not know how to recognize a trend, or refuse to recognize a trend but most folks would rather have other folks think they are smart than to make $$$. Trading with the trend doesn't challenge them sufficiently, so they do something else. Of course they lose.

Most people learn too much. You just need a couple of things you have faith in, and the guts to use them. If you cant enter a trade after you just had a losing trade on the same signal, you cant trade for $$$. You're kidding yourself if you think you can.
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Keep taking CT trades, I need more money
  • #13,625
  • Sep 15, 2008 12:27pm Sep 15, 2008 12:27pm
You gotta be aware of the time frame you're trading in. When the weekly gets over-extended in its trend, it sets up a tradeable countertrend move on the daily. When the daily gets overextended, it sets up a tradeable ct move in the hourly/30 min. When the hourly/30min get overextended, it sets up a ct trade on the 5 min. Daytraders make a big mistake trying to catch countertrade moves by referring only to the very short term (5,2,or 1 min) charts. That's gambling. You can trade with the trend by looking only at the 5 min, entering on every pullback, but if you want to catch the countertrend moves, you gotta know where you are on the bigger charts. This is all I do and have done to make a living for years, I just added some of J16 PA to it but it's nothing new just James rebadged old stuff.

Look at today again on the 30min, 7:30 EST, you see that PB and how over-extended it is trending down? You know a pullback is coming so for the 5min stuff you know it's going to start trending up. You can still get short but your going to have to close it quick.
Keep taking CT trades, I need more money
  • #13,626
  • Sep 15, 2008 1:07pm Sep 15, 2008 1:07pm
Nice stuff Ryan,

One question, do you only enter on pinbars at the good areas on your bb's, or do you take entries without pa from time to time, if price is at a great area and with trend?

Thanks
  • #13,627
  • Sep 15, 2008 1:12pm Sep 15, 2008 1:12pm
Quoting Ryanmcd
I know this is too gump for most of ya but it's just that easy. There are many hereabouts who either do not know how to recognize a trend, or refuse to recognize a trend but most folks would rather have other folks think they are smart than to make $$$. Trading with the trend doesn't challenge them sufficiently, so they do something else. Of course they lose.

Most people learn too much. You just need a couple of things you have faith in, and the guts to use them. If you cant enter a trade after you just had a losing trade on the same signal, you cant trade for $$$. You're kidding yourself if you think you can.
Ryanmcd,

Did you trade only where you have the arrows (during the flat time, all look to be pin bars)?

The best trade I see on your chart, is at the start of the large down move there is a bearish outside bar. Would you recommend this trade (bearish outside bar, against the BB and setting up a lower high)?
  • #13,628
  • Sep 15, 2008 1:24pm Sep 15, 2008 1:24pm
Quoting unlv_tj
Ryanmcd,

Did you trade only where you have the arrows (during the flat time, all look to be pin bars)?

The best trade I see on your chart, is at the start of the large down move there is a bearish outside bar. Would you recommend this trade (bearish outside bar, against the BB and setting up a lower high)?

I took the 1st arrow and was down for the day +2% and it took 1 hour. All the other arrows are trades I watched but did not take because I made what I needed too but if I missed the 8:30 I would off been in them. Also what bar are you talking about? What time?
Keep taking CT trades, I need more money
  • #13,629
  • Sep 15, 2008 1:26pm Sep 15, 2008 1:26pm
Quoting Mr Smith
Nice stuff Ryan,

One question, do you only enter on pinbars at the good areas on your bb's, or do you take entries without pa from time to time, if price is at a great area and with trend?

Thanks

I like to see a move that shows me it's going to stick with the trend, if it's a PB, or a engulfing bar or a spike, just something. If I don't get it I may still take it but I like to have something else on my side with the trend. Check out the down move on if you shorted the 21EMA everytime it hit when in trend.
Keep taking CT trades, I need more money
  • #13,630
  • Sep 15, 2008 1:42pm Sep 15, 2008 1:42pm
Quoting Ryanmcd
I took the 1st arrow and was down for the day +2% and it took 1 hour. All the other arrows are trades I watched but did not take because I made what I needed too but if I missed the 8:30 I would off been in them. Also what bar are you talking about? What time?
Thank you for your help.

The bar I am talking about is at the start of the big down move on the chart you shared. It is to the left of the big down arrow you drew. There is a bearish outside bar against the BB. It appears to have occured at about 2 AM your time.
  • #13,631
  • Sep 15, 2008 4:42pm Sep 15, 2008 4:42pm
Quoting giraia_br
oh no!!! I am crazy enough with 9 TFs

what i want to know is about double pins. I still confuse with they. Some more explanation? Thansk in advance

It's not a "double Pin Bar", it's 2 or more bars that when combined together form a familiar looking Price Action formation. (Sorry, can't post a chart).

http://www.forexfactory.com/showpost...ostcount=11018
Indicators show the past. Price Action "Indicates" the future.
  • #13,632
  • Sep 15, 2008 5:24pm Sep 15, 2008 5:24pm
Quoting Ryanmcd
I know this is too gump for most of ya but it's just that easy. There are many hereabouts who either do not know how to recognize a trend, or refuse to recognize a trend but most folks would rather have other folks think they are smart than to make $$$. Trading with the trend doesn't challenge them sufficiently, so they do something else. Of course they lose.

Most people learn too much. You just need a couple of things you have faith in, and the guts to use them. If you cant enter a trade after you just had a losing trade on the same signal, you cant trade for $$$. You're kidding yourself if you think you can.
Hey Ryan, Nice chart. I took two trades last night of the 5 min. First was loss 17 pip. Second was win. risk:17 reward:117. I used Mike's magic 8 ball for exit signal . My thought processes was ...Daily Trend = Down. Look for hourly setup..... ( Bearish Triple High Low Close) then enter on the 5 min using PA. I got in before I saw Jarroo post that 8 hour pin. That post made me happy.

What is "new" about James to me is proof you can do this and make money over time without a PHD. That it is a business and to be treated as such. That a fellow trader spent a lot of time in the fetal position and overcame his fear to trade constantly. His willingness to teach people and help them avoid blown accounts.

You guys that do this full time amaze me. I don't know how you deal with the fear. I'm new to forex and demoing for 3 months like James teaches. When I pull the trigger it feels just the same as when I trade real money. My chest gets tight and my palms sweat sometimes. Other times I see it and pull the trigger no problem. Any tricks to overcome the fear much appecaited.

Jason
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May the fish in your stream of life always bite.
  • #13,633
  • Sep 15, 2008 7:02pm Sep 15, 2008 7:02pm
Quoting aSandman
I'm new to forex and demoing for 3 months like James teaches. When I pull the trigger it feels just the same as when I trade real money. My chest gets tight and my palms sweat sometimes. Other times I see it and pull the trigger no problem. Any tricks to overcome the fear much appecaited.

Jason
Practise, practise, practise.

Through countless times of seeing set-ups and placing your stops and not "fearing" that if your stop loss is hit, it's not the end of the world. Fine tuning your set-ups (which develops over time) high probability trades will look joyful instead of fearful.

Best analogy I can make is the 1st year doctor that faints at the sight of blood and then (over time) becomes a 1st class surgeon.

Just some thoughts.

Jim
Indicators show the past. Price Action "Indicates" the future.
  • #13,634
  • Sep 15, 2008 7:14pm Sep 15, 2008 7:14pm
Quoting aSandman
Hey Ryan, Nice chart. I took two trades last night of the 5 min. First was loss 17 pip. Second was win. risk:17 reward:117. I used Mike's magic 8 ball for exit signal . My thought processes was ...Daily Trend = Down. Look for hourly setup..... ( Bearish Triple High Low Close) then enter on the 5 min using PA. I got in before I saw Jarroo post that 8 hour pin. That post made me happy.

What is "new" about James to me is proof you can do this and make money over time without a PHD. That it is a business and to be treated as such. That a fellow trader spent a lot of time in the fetal position and overcame his fear to trade constantly. His willingness to teach people and help them avoid blown accounts.

You guys that do this full time amaze me. I don't know how you deal with the fear. I'm new to forex and demoing for 3 months like James teaches. When I pull the trigger it feels just the same as when I trade real money. My chest gets tight and my palms sweat sometimes. Other times I see it and pull the trigger no problem. Any tricks to overcome the fear much appecaited.

Jason

You get immune to it, I lose 20k on a trade if it's wrong and it's no biggie it's just a numbers game. My brother is a pro poker player and is down 60-80k at times, no biggie if you do it long enough you know you are going to win. If you still freak out on the money part you will lose over and over and over.
Keep taking CT trades, I need more money
  • #13,635
  • Sep 15, 2008 7:19pm Sep 15, 2008 7:19pm
Quoting aSandman
Hey Ryan, Nice chart. I took two trades last night of the 5 min. First was loss 17 pip. Second was win. risk:17 reward:117. I used Mike's magic 8 ball for exit signal . My thought processes was ...Daily Trend = Down. Look for hourly setup..... ( Bearish Triple High Low Close) then enter on the 5 min using PA. I got in before I saw Jarroo post that 8 hour pin. That post made me happy.

What is "new" about James to me is proof you can do this and make money over time without a PHD. That it is a business and to be treated as such. That a fellow trader spent a lot of time in the fetal position and overcame his fear to trade constantly. His willingness to teach people and help them avoid blown accounts.

You guys that do this full time amaze me. I don't know how you deal with the fear. I'm new to forex and demoing for 3 months like James teaches. When I pull the trigger it feels just the same as when I trade real money. My chest gets tight and my palms sweat sometimes. Other times I see it and pull the trigger no problem. Any tricks to overcome the fear much appecaited.

Jason
Also on that chart the trend was down, should never take a long unless you like to lose.
Keep taking CT trades, I need more money
  • #13,636
  • Sep 15, 2008 9:17pm Sep 15, 2008 9:17pm
in my view,aSandman,this type of fear can only be overcome when you
KNOW THE SETUP so well you KNOW it works over time.
TRUST YOUR LINES,pivots res/sup levels etc. ONLY when you KNOW your lines are correct can you pull the trigger without fear.
if a person is trading setups other people say work they will ALWAYS be fear ,MAKE THEM YOUR OWN,know them well enough to do so.
hope this fast reply helps on my way to my real job
PATIENCE... DISCIPLINE
  • #13,637
  • Sep 15, 2008 10:57pm Sep 15, 2008 10:57pm
Quoting Ryanmcd
Also on that chart the trend was down, should never take a long unless you like to lose.
Thanks for the response Ryan and all! Look at my chart, I took two shorts at the red arrows. ie I don't want to fight the trend.

@ GJ thanks for the input man and very valid. The thing is a lot of the setups I take are my own. They are not Pure J16, and I have trouble believing in them. I guess it all comes down to self confidence in yourself. Something Mike said can only come from within and over time. To quote PC, a truth that has always held true even if I did not realize it myself.

Jason
May the fish in your stream of life always bite.
  • #13,638
  • Sep 16, 2008 3:28am Sep 16, 2008 3:28am
Is that a 2 Day Pin Bar on the Daily Gbp/Jpy? (Damn web charts)
Indicators show the past. Price Action "Indicates" the future.
  • #13,639
  • Sep 16, 2008 4:05am Sep 16, 2008 4:05am
Quoting jarroo
Is that a 2 Day Pin Bar on the Daily Gbp/Jpy? (Damn web charts)
Continuing south by the looks brother.

Ignore trade levels. ....naughty time frame again. lol
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Bundy's status today: "Waiting..."
  • #13,640
  • Sep 16, 2008 4:28am Sep 16, 2008 4:28am
Quoting bundyraider
Continuing south by the looks brother.

Ignore trade levels. ....naughty time frame again. lol
My regular charts didn't show a 2 day Pin Bar, but it might as well have.
Indicators show the past. Price Action "Indicates" the future.
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