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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

  • #13,841
  • Sep 23, 2008 6:07am Sep 23, 2008 6:07am
My day.
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Keep taking CT trades, I need more money
  • #13,842
  • Sep 23, 2008 6:08am Sep 23, 2008 6:08am
Quoting Betard
Here's another I'm taking (short). I was aggressive and didn't wait for pin bar to break, just took trade at open of new bar. Still trying to decide whether to wait for breaks or just pull trigger right away. PB in downtrend at 21 ema, SL above candle, 1:1 R:R. I won't post any more of these because I don't want to clutter the thread.

Edit: Profit target hit $$.
I took the same trade
Keep taking CT trades, I need more money
  • #13,843
  • Sep 23, 2008 6:18am Sep 23, 2008 6:18am
Quoting Ryanmcd
Enjoy
Hi Ryan, I've read over your posts in this thread 2-3 times now, and I just don't understand what PA candlestick/bar formations (other than pin bars of course) you are triggering on? Outside Engulfing candles that I'm familiar with go outside at least the body of the previous candle if not the shadows as well. Can you elaborate on these? I've circled in red where I'm confused. All that I can see is you taking the first bullish candle after a bearish candle touches the middle BB (and vice-versa)?
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  • #13,844
  • Sep 23, 2008 6:33am Sep 23, 2008 6:33am
Quoting Ryanmcd
I took the same trade
Rough day huh. Ok I think I've pretty much got it. Now I just need to practice, practice, practice until I get good at it.
  • #13,845
  • Sep 23, 2008 6:36am Sep 23, 2008 6:36am
this daily PB in AJ (16/09) was caught by someone here?

i am asking because was necessary almost 400 pips stop to still in that trade
  • #13,846
  • Sep 23, 2008 6:48am Sep 23, 2008 6:48am
Quoting libertao
Hi Ryan, I've read over your posts in this thread 2-3 times now, and I just don't understand what PA candlestick/bar formations (other than pin bars of course) you are triggering on? Outside Engulfing candles that I'm familiar with go outside at least the body of the previous candle if not the shadows as well. Can you elaborate on these? I've circled in red where I'm confused. All that I can see is you taking the first bullish candle after a bearish candle touches the middle BB (and vice-versa)?

Hi Libertao,

I think Ryan is using IB (inside bar) as the triggering PA. Personally, this is my favourite PA signal. If you look at a senior member here named Jarroo...he's really into this PA and I think he has a thread in this forum discussing about this particular PA.

Hope that helps.

Regards,
  • #13,847
  • Sep 23, 2008 7:27am Sep 23, 2008 7:27am
Quoting y.caesar
Hi Libertao,
I think Ryan is using IB (inside bar) as the triggering PA.
Thanks for your response, and perhaps you are right, but some of the entries he points out don't fall under OB, IB or PB. Like this one circled in red:
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  • #13,848
  • Sep 23, 2008 7:36am Sep 23, 2008 7:36am
Quoting libertao
Thanks for your response, and perhaps you are right, but some of the entries he points out don't fall under OB, IB or PB. Like this one circled in red:

True, Some of the time I take a trade based on what I have seen in the past work and this just takes time. You can NEVER make money in the market trying to make rules that are 100% cut and dry and this is why so many people fail. For people to get this they are just going to have to see for themselfs what works over and over and over. For new people it maybe better to just stick to the cookie cutter PB's and setups they can try to take that are more cut in dry.
Keep taking CT trades, I need more money
  • #13,849
  • Sep 23, 2008 7:38am Sep 23, 2008 7:38am
Quoting Betard
Rough day huh. Ok I think I've pretty much got it. Now I just need to practice, practice, practice until I get good at it.

Now it just takes time, It's like cooking. Once you get good at it you no longer measure everything out you can just put it in by looking at it and know it's the right amount. Just takes time took me a few years to be able to call everymove but now I can look at a day and call it about 90% right all the turns
Keep taking CT trades, I need more money
  • #13,850
  • Sep 23, 2008 7:49am Sep 23, 2008 7:49am
Quoting libertao
Thanks for your response, and perhaps you are right, but some of the entries he points out don't fall under OB, IB or PB. Like this one circled in red:
http://www.forexfactory.com/attachme...1&d=1222180041

what is tat blue and magenta line..looks cute as panda....

Sonic
  • #13,851
  • Sep 23, 2008 8:33am Sep 23, 2008 8:33am
Quoting Ryanmcd
Now it just takes time, It's like cooking. Once you get good at it you no longer measure everything out you can just put it in by looking at it and know it's the right amount. Just takes time took me a few years to be able to call everymove but now I can look at a day and call it about 90% right all the turns
So let's say we have a SU day and we have the perfect Pb against middle BB and 21MA, when do you enter, at the close of the PB, at the break of the PB at a fixed number of pips?
if the PB is like 17 pips, and your TP=SL=10 ,do you place the SL before breaking the pin to the otrher side?
  • #13,852
  • Sep 23, 2008 8:41am Sep 23, 2008 8:41am
Quoting judith
So let's say we have a SU day and we have the perfect Pb against middle BB and 21MA, when do you enter, at the close of the PB, at the break of the PB at a fixed number of pips?
if the PB is like 17 pips, and your TP=SL=10 ,do you place the SL before breaking the pin to the otrher side?

It all depends.. This is when you have to learn how to trade, What I posted is how I trade and it works, to say I do the same thing every trade is wrong. In fact I do most of my trade different depending on the feel.

1. Was the PB made fast? Did it happen in the last 30 seconds of the 5min bar? Did the last high take out the BB and how high did it go through the BB? What does RSI look like? Could it be a divergence? Was the last RSI low higher then the one before it?

When I take a trade I do about 10 different things and it's never the same, I look at the 1min chart as well and check out what the 30min looks like. Again I printed out 7 years of charts and went over every day on a 3min time, took me about 2 years. Is it worth it? Sure is.
Keep taking CT trades, I need more money
  • #13,853
  • Sep 23, 2008 8:42am Sep 23, 2008 8:42am
Also you had 2 PB's for longs in the past 2 hours, BB = flat = CT. Nice rsi divergence as well.

Will post in PM, going out for the day.
Keep taking CT trades, I need more money
  • #13,854
  • Sep 23, 2008 9:36am Sep 23, 2008 9:36am
I find myself with losing trades, please help.
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  • #13,855
  • Sep 23, 2008 10:01am Sep 23, 2008 10:01am
Quoting Ryanmcd
Also you had 2 PB's for longs in the past 2 hours, BB = flat = CT. Nice rsi divergence as well.

Will post in PM, going out for the day.
i did see'em, thought the 2nd one was better, i didn't have divergence in the 1st, and I like to see the head of the pin above lines with the tail hanging down.
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  • #13,856
  • Sep 23, 2008 10:21am Sep 23, 2008 10:21am
I am not going to post anymore charts or anything about this 5min. If you do not get it you can not trade and need to go back to something else that works for you. I make a living doing this so I know it works but you can not just look at it and TRY to do the same. It takes a LOT of damn hard work and I am not talking 2-3 hours I am talking a few 100 hours to get it over 1000 hours to be able to pull money out daily. I lost for a few years before I got it.

I wish everyone luck and the last post you where not trading a trend, dont know what a trend is? Go back to the books, this is NOT a entry level type of trading.

This will be my last chart..
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Keep taking CT trades, I need more money
  • #13,857
  • Sep 23, 2008 12:10pm Sep 23, 2008 12:10pm
Right decision.good luck man, you give me BIG idea. I want to train this as hard as i can.
you dont need to post anymore, because it's still the same point, over and over again! I realise this.
Thanks for all
  • #13,858
  • Sep 23, 2008 12:51pm Sep 23, 2008 12:51pm
Quoting Fx Jeff
I find myself with losing trades, please help.

It appears to me the bollinger band is not flat when you say it is. The one time it was, the trade ended in success.

I'm also not sure why you would have taken the 3rd, 4th, and 5th trades. The third trade looked like a fairly weak PB. I don't know if I would call it a pin bar. The 4th trade was a triggered PB, but th next bar was a neutral bar, IMO. It might have been wise to tighten your stop. Besides, the BB's weren't flat if you were playing ryans rules. The 5th trades was a PB, but didn't trigger in the candle after them. I don't know if it's still following J16 rules if you take a pin bar trade that hasn't triggered in the consecutive bar. Do PB's have expiration dates?

I wouldn't consider the 5th trade a BUOB if that's how you read it either. it closed inside the main body of the previous bar. Still a lack of momentum IMO.
  • #13,859
  • Sep 23, 2008 12:57pm Sep 23, 2008 12:57pm
Quoting Ryanmcd
I am not going to post anymore charts or anything about this 5min. If you do not get it you can not trade and need to go back to something else that works for you. I make a living doing this so I know it works but you can not just look at it and TRY to do the same. It takes a LOT of damn hard work and I am not talking 2-3 hours I am talking a few 100 hours to get it over 1000 hours to be able to pull money out daily. I lost for a few years before I got it.

I wish everyone luck and the last post you where not trading a trend, dont know what a trend is? Go back to the books, this is NOT a entry level type of trading.

This will be my last chart..
Ryan ,

Could you please inform me of your bb settings (period/ shift/ dev and applied to)

thanks
  • #13,860
  • Sep 23, 2008 1:12pm Sep 23, 2008 1:12pm
) I was really enthusiastic about the info provided by the James 16 chart, but Iīm changing my mind and honestly Iīm feeling disappointed by the uncertainty that you generate. Plus the disappointment as I wanted to join your site and I realized that you charge $129 monthly for a year. I donīt know doesnīt seem to be really fair, I donīt want to offend but itīs my view
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