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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

  • #14,221
  • Oct 6, 2008 8:54pm Oct 6, 2008 8:54pm
Quoting sonicdeejay
Divergence shouldn't be taken as the trading signal....mere a warning ones...
I hope u r not in EU long...yesterday...

Sonic

Good post, in normal markets these trades look great. But without having any idea on what may happen I would stay stick to trend stuff or do a VERY quick in and out, the only problem is your risk is going to be high so a stop of say 150 pips = +150 to = 1:1.
Keep taking CT trades, I need more money
  • #14,222
  • Oct 7, 2008 12:33am Oct 7, 2008 12:33am
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.
could you give me the time on that PB so i could reference w/ my chart (different broker) ... thanks

cheers & good trading
"Believe nothing you hear and half of what you see." Proverb
  • #14,223
  • Oct 7, 2008 12:34am Oct 7, 2008 12:34am
Quoting fxgrinder
could you give me the time on that PB so i could reference w/ my chart (different broker) ... thanks

cheers & good trading
nevermind ... im too many posts behind ...
"Believe nothing you hear and half of what you see." Proverb
  • #14,224
  • Oct 7, 2008 2:19am Oct 7, 2008 2:19am
Quoting Ryanmcd
Good post, in normal markets these trades look great. But without having any idea on what may happen I would stay stick to trend stuff or do a VERY quick in and out, the only problem is your risk is going to be high so a stop of say 150 pips = +150 to = 1:1.
Great post Ryan! you hit the nail on the head! this is exactly the problem i am facing, till yesterday i had to see my trade go as much as -120 pips, and ofcaorse that's stressful for any trader. now even when i am looking for three figures pips it does'nt give me a good enough risk:rewards ratio. i think this could have been a better trade had i waited for a proper confirmation of a reversal plus some nice PA indication. this was perhaps just a big mistake where i looked to predict what the market will do before it showed any intentions of doing anything i expected it to do.

Anyways i am just trying to find the best deal to get out of the trade, improtantly this is not the first time i have done this, i need to pull my socks up and stop making these foolish mistakes.


Regards,
Ghous.
I believe . . .
  • #14,225
  • Oct 7, 2008 3:04am Oct 7, 2008 3:04am
Price Action with the trend. PB.
Attached Image
Indicators show the past. Price Action "Indicates" the future.
  • #14,226
  • Oct 7, 2008 3:29am Oct 7, 2008 3:29am
Chart nearly 100 pips later. An "A" trade my friends.
Attached Image
Indicators show the past. Price Action "Indicates" the future.
  • #14,227
  • Oct 7, 2008 4:03am Oct 7, 2008 4:03am
Quoting cosgrove
So how are you guys playing these huge bars? Are you going to play the breaks of the inevitable inside bars that form?
Speaking only for myself, I have always done better in High volatility markets.
Mark Fisher echo's the same thing. LBR echo's the same thing. Most of our TA is based on the theory of emotions. I mean that's why the bar patterns and S/R work. In volatile market those emotions are heightened. Just use proper MM to tame the big bars. For Example if your trade plan says you risk 1% on a trade and you trade IB's that are normal y 50 pips wide.... and you risk $100 on the trade of your 10k account. Now your in a high volatility market and you see a good IB but its 150 pip wide. So you just cut down your size till 150 pip stop = 100 dollars.

Ryan brought up a great point, in normal range or choppy markets that is when you want to bring out the CT trades. Letting my wining trades run has been working good for me in this market vs hit and run. In a ranging market hit and run saves the day. The trick then being identifying what type of market your in and trading it accordingly. UG long winded answer just to say "cut back your size". Sorry

Jason
May the fish in your stream of life always bite.
  • #14,228
  • Oct 7, 2008 5:03am Oct 7, 2008 5:03am
Quoting Ryanmcd
Good post, in normal markets these trades look great. But without having any idea on what may happen I would stay stick to trend stuff or do a VERY quick in and out, the only problem is your risk is going to be high so a stop of say 150 pips = +150 to = 1:1.
It wasn't my trade nor originated by me..pls read carefully..
I am up +1400 pips in my EUR/JPY trade...
and which RR u r referring to??


Sonic
  • #14,229
  • Oct 7, 2008 5:58am Oct 7, 2008 5:58am
Quoting sonicdeejay
It wasn't my trade nor originated by me..pls read carefully..
I am up +1400 pips in my EUR/JPY trade...
and which RR u r referring to??


Sonic
don't worry Dj Ryan's words were not directed at you...
I believe . . .
  • #14,230
  • Oct 7, 2008 6:00am Oct 7, 2008 6:00am
Quoting jarroo
Chart nearly 100 pips later. An "A" trade my friends.
that Pb never occured on my charts lol! but anyways nice stuff jarroo, nice catch!!

Regards,
Ghous.
I believe . . .
  • #14,231
  • Oct 7, 2008 6:04am Oct 7, 2008 6:04am
Quoting ghous
that Pb never occured on my charts lol! but anyways nice stuff jarroo, nice catch!!

Regards,
Ghous.
It was tough to post in real time. Just wanted to show this stuff works when your patient.
Indicators show the past. Price Action "Indicates" the future.
  • #14,232
  • Oct 7, 2008 7:10am Oct 7, 2008 7:10am
Hi all. I hope everyone doing good with this crazy market. jarroo did you close the USD/JPY short trade which you showed? I was just wondering your trade management. By the way the set-up was a nice one just at the daily PPZ.

Nuriksari
Happy pipping
  • #14,233
  • Oct 7, 2008 7:23am Oct 7, 2008 7:23am
Quoting nuriksari
Hi all. I hope everyone doing good with this crazy market. jarroo did you close the USD/JPY short trade which you showed? I was just wondering your trade management. By the way the set-up was a nice one just at the daily PPZ.

Nuriksari
Happy pipping

I took half off at 87 pips and moved to break end initially. Then I chicken out and closed the 2nd half out at 33 pips.
Indicators show the past. Price Action "Indicates" the future.
  • #14,234
  • Oct 7, 2008 8:19am Oct 7, 2008 8:19am
Quoting ghous
Great post Ryan! you hit the nail on the head! this is exactly the problem i am facing, till yesterday i had to see my trade go as much as -120 pips, and ofcaorse that's stressful for any trader. now even when i am looking for three figures pips it does'nt give me a good enough risk:rewards ratio. i think this could have been a better trade had i waited for a proper confirmation of a reversal plus some nice PA indication. this was perhaps just a big mistake where i looked to predict what the market will do before it showed any intentions of doing anything i expected it to do.

Anyways i am just trying to find the best deal to get out of the trade, improtantly this is not the first time i have done this, i need to pull my socks up and stop making these foolish mistakes.


Regards,
Ghous.
i would just like to mention that the markets have been nice to me this time. i had the opportunity to move my eu trade stop to breakeven and the trade is currently running at +60...now that's a narrow escape
I believe . . .
  • #14,235
  • Oct 7, 2008 9:36am Oct 7, 2008 9:36am
Quoting jarroo
I took half off at 87 pips and moved to break end initially. Then I chicken out and closed the 2nd half out at 33 pips.
A man after my own heart. That's the hardest part for me, watching profit shrink to hand on for the big swing. BTW nice trade on that usd/jpy 4hr. My feed did not show it.

Jason
May the fish in your stream of life always bite.
  • #14,236
  • Oct 7, 2008 9:49am Oct 7, 2008 9:49am
Quoting raczekfx
Right SL....?
Huh? What? Who? Where? When?
What?
Or was that another SL?

Since indices and stuff was discussed, I feel now would be a good time to mention that I agree with Igrok's view of 7500 and worse coming for the DJI. This current rally(if there is one to develop out of this rejection so far) might lend one of the last great short opportunities across the board(as in these meltdowns all pairs synch up anyhow).

Here's what I posted to the now dissolved 1kT "Wall Street thread" and the latest update to how my progression turned out.

If there were any liquid investment banks left I'd tell them to hire me NOW ;p

Hehehe..

*waves to Benssol* Cool charts, nice to see you around
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Trust price. Know yourself.
  • #14,237
  • Oct 7, 2008 10:27am Oct 7, 2008 10:27am
Quoting ghous
don't worry Dj Ryan's words were not directed at you...
we all cool..buddy..
  • #14,238
  • Oct 7, 2008 12:23pm Oct 7, 2008 12:23pm
How abt this for a setup guys,
Attached Image (click to enlarge)
Click to Enlarge Name: eu 4h.gif Size: 9 KB
I believe . . .
  • #14,239
  • Oct 7, 2008 7:09pm Oct 7, 2008 7:09pm
Quoting aSandman
A man after my own heart. That's the hardest part for me, watching profit shrink to hand on for the big swing. BTW nice trade on that usd/jpy 4hr. My feed did not show it.

Jason
I usually view 3 to 4 different feeds, I don't think its necessary though. It all evens out in the end. But when they do line up, the data feeds, it adds a little bit more confidence in my decision.
Indicators show the past. Price Action "Indicates" the future.
  • #14,240
  • Oct 7, 2008 7:13pm Oct 7, 2008 7:13pm
Quoting ghous
How abt this for a setup guys,
Looks good ghous.
Indicators show the past. Price Action "Indicates" the future.
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