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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

  • #13,681
  • Sep 17, 2008 12:06pm Sep 17, 2008 12:06pm
anyone get their ass handed to them on the euraud? Guess I learned my lesson not to trade against that high of a trend.
  • #13,682
  • Sep 17, 2008 12:13pm Sep 17, 2008 12:13pm
Hi, Ryan!

How do You set SL?
1,Is it a fix number, 10, 15 or 20 (as You said lately the market more volatile, so You go for 20),
2, or behind the trigger bar +2,
3, or behind mini sup/res,
4, or any other method?
THX, NL
  • #13,683
  • Sep 17, 2008 12:26pm Sep 17, 2008 12:26pm
Quoting hakga
But recently, the direction of the thread has turned away from what made it great. Maybe this has to do with the lack of J16 set ups recently with a few good ones failing, and people are increasingly frustrated about being out of the market. This is the time to be disciplined, be patient and wait for the set up to come.
hakga, great post. indeed, the current market conditions are very frustrating for a J16 daily chart trader. Yesterday PBs for GY or EY needed a stop of 400 pips. for a newbie like me, its a no trade. Trying to trade from lower TFs, but still difficult because the currencies are all over the place.
Market can stay irrational longer than you can stay solvent.
  • #13,684
  • Sep 17, 2008 1:47pm Sep 17, 2008 1:47pm
I am not going to waste my time with a lot of the BS that was posted but here are a few answers.


1. I play PA, PB's and such stuff I picked up on J16 site to add to what I already did. If you remember when I 1st joined he sent out a letter to everyone that I sent to him. Pretty much saying no matter how long you do this you never stop learning it, you think a doctor never picks up a book? I know people that have been doing this 30 years and they STILL read daily, news, charts, setups. At this point it's not looking for something that works it is looking to see if this fits into what you trade to help you out. Just more ideas.

2. My stop goes with the flow and yes it's a hard stop, as of late it has been 20 pips due to the markets bigger move, I have done them as low at 5 in very tight markets.


3. Lets all get along please, I really hate the internet sometimes and all I want to do is see people make money, and be happy and live a good long life. Again if you want me to prove it after posting NOTHING to help why should I? Again I have nothing for sale and never will.


Trade well
-Ryan
Keep taking CT trades, I need more money
  • #13,685
  • Sep 17, 2008 1:53pm Sep 17, 2008 1:53pm
Quoting rustyjeff
This was a nice little win.
In & out with a quick 30.
now wait to see how it plays on the lower half of the bb. pin could have been nicer but it was still a small triangle breakout as well.
Used this same method last night on the hourly with pins as the trigger on the audjpy/nzdjpy.
Just more confirmation for me..

YES!!! Okay now don't get all emo and screw it up thinking about how much you can make lol. That's it you got it not hard just have to NOT SCREW WITH IT, it works if you lose it happens just stick with it. I really like using PB's with the trend on pullbacks, it's one of the 2 setups I trade. Also I just watch the eur/usd it has enough trades most of the time.
Keep taking CT trades, I need more money
  • #13,686
  • Sep 17, 2008 2:00pm Sep 17, 2008 2:00pm
THX, Ryan for the quick reply!
Just one more thing came in to my mind: do You move Your SL to BE anytime on 5M, or under that, or just let it be TP or SL?

And ignore , please the offensive persons. We are here to talk about each of us how to trade, or how to response to a situation. If somebody don t understand it simple ignore it, and she/he will go away. (If We don t reply.)
THX again, Laszlo
  • #13,687
  • Sep 17, 2008 2:07pm Sep 17, 2008 2:07pm
Quoting nAVIN2007
pinbar on 2 hr.....was good for 120+ pips
Hey Navin. Welcome. I've noticed your posts on the cable thread. Glad to see you here. Wanted to recommend you to come here anyway. This thread will save you from many market massacres!
"Don't trade to trade . . . trade to win." - James16
  • #13,688
  • Sep 17, 2008 2:14pm Sep 17, 2008 2:14pm
Here's a chart of silver. More than likely the close will be higher than the previous bar. If this move in silver is for real, I can see it going to 12.77, which is the 900 day MA (magenta colored line). Any thoughts?
Attached Image (click to enlarge)
Click to Enlarge Name: silver.gif Size: 10 KB
"Don't trade to trade . . . trade to win." - James16
  • #13,689
  • Sep 17, 2008 2:31pm Sep 17, 2008 2:31pm
Quoting Flem26
Here's a chart of silver. More than likely the close will be higher than the previous bar. If this move in silver is for real, I can see it going to 12.77, which is the 900 day MA (magenta colored line). Any thoughts?
Not trying to be rude here, but why did you enter?
  • #13,690
  • Sep 17, 2008 2:36pm Sep 17, 2008 2:36pm
Quoting HipsterPipster
Not trying to be rude here, but why did you enter?
I forgot to mention the buy note on the chart is from demo. Sorry about that.
"Don't trade to trade . . . trade to win." - James16
  • #13,691
  • Sep 17, 2008 2:39pm Sep 17, 2008 2:39pm
Here's a chart of the mini-dow (YM). Possible bearish outside bar. More than likely it will form. Again, the sell note is from demo. Not my real account.
Attached Image (click to enlarge)
Click to Enlarge Name: mini_dow.gif Size: 12 KB
"Don't trade to trade . . . trade to win." - James16
  • #13,692
  • Sep 17, 2008 2:56pm Sep 17, 2008 2:56pm
Quoting lacika
THX, Ryan for the quick reply!
Just one more thing came in to my mind: do You move Your SL to BE anytime on 5M, or under that, or just let it be TP or SL?

And ignore , please the offensive persons. We are here to talk about each of us how to trade, or how to response to a situation. If somebody don t understand it simple ignore it, and she/he will go away. (If We don t reply.)
THX again, Laszlo

I don't mess with a trade once it's on, too many times I closed it out too quick now I just set it and forget it.
Keep taking CT trades, I need more money
  • #13,693
  • Sep 17, 2008 3:15pm Sep 17, 2008 3:15pm
Quoting jarroo
When you apply the period converter to your chart, go to inputs,click on "PeriodMultipler" and indicate the number you want to convert.
Ex. go to the Daily, apply the peridcon and got to inputs. Then go to "PeriodMultipler" and put "2" for two Day chart.

Then got to File and click on "Open Offline". Look for your selected time frame, ie. GBP/JPY 2D. Click on Open and apply your template. Done.
Thanks for the period converter. Man I spent two hours figuring out how to us it then read back on forum and you explain it! I had to read the read me inside the code to figure it out. Goes to show I should have just been patient Reading page 190 of this thread now....

Jason
May the fish in your stream of life always bite.
  • #13,694
  • Sep 17, 2008 3:24pm Sep 17, 2008 3:24pm
Quoting Ryanmcd
YES!!! Okay now don't get all emo and screw it up thinking about how much you can make lol. That's it you got it not hard just have to NOT SCREW WITH IT, it works if you lose it happens just stick with it. I really like using PB's with the trend on pullbacks, it's one of the 2 setups I trade. Also I just watch the eur/usd it has enough trades most of the time.

No worries, no emo here.
It may be added to my live trading after a couple months training, provided I dont mess it up. So far so good.
  • #13,695
  • Sep 17, 2008 4:01pm Sep 17, 2008 4:01pm
Quoting Flem26
Here's a chart of silver. More than likely the close will be higher than the previous bar. If this move in silver is for real, I can see it going to 12.77, which is the 900 day MA (magenta colored line). Any thoughts?
its not a bullish outside bar till the bar physically closes and there resistance right above it..good luck with that trade it looks a but risky but hopefully gold rising will bring it up
  • #13,696
  • Sep 17, 2008 4:02pm Sep 17, 2008 4:02pm
Quoting Flem26
Hey Navin. Welcome. I've noticed your posts on the cable thread. Glad to see you here. Wanted to recommend you to come here anyway. This thread will save you from many market massacres!
thx buddy...
  • #13,697
  • Sep 17, 2008 4:13pm Sep 17, 2008 4:13pm
pullback pin bars in a trend (or consolidation) to large round numbers with pivot zone/fib confluence can open the door to success in this business if you never learn another thing. this is the core of how i daytrade the mini dow/ns/sp. ive said it a thousand times but it really is just a question of practice. your a valued poster here ryan so dont let the BS get to you.

jim

Quoting Ryanmcd
YES!!! Okay now don't get all emo and screw it up thinking about how much you can make lol. That's it you got it not hard just have to NOT SCREW WITH IT, it works if you lose it happens just stick with it. I really like using PB's with the trend on pullbacks, it's one of the 2 setups I trade. Also I just watch the eur/usd it has enough trades most of the time.
  • #13,698
  • Sep 17, 2008 4:14pm Sep 17, 2008 4:14pm
Well the daily bar on silver has closed and it is a bullish outside bar. Silver tends to move slow, although there was a big move today (mostly because of market news noise). If it breaks up by 10 points or so, I'll monitor it on the 4 hour charts for a retracement entry; if I get the right signal.

I'm not rushing into anything.
"Don't trade to trade . . . trade to win." - James16
  • #13,699
  • Sep 17, 2008 4:19pm Sep 17, 2008 4:19pm
Quoting Flem26
Well the daily bar on silver has closed and it is a bullish outside bar. Silver tends to move slow, although there was a big move today (mostly because of market news noise). If it breaks up by 10 points or so, I'll monitor it on the 4 hour charts for a retracement entry; if I get the right signal.

I'm not rushing into anything.
good stuff buddy
  • #13,700
  • Sep 17, 2008 5:41pm Sep 17, 2008 5:41pm
Ryan

Keep on " Rocking"

Gerard
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