james16 Chart Thread | Page 721 | 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

  • #14,401
  • Oct 14, 2008 2:03pm Oct 14, 2008 2:03pm
Quoting jarroo
Something to look at on the Daily Gbp/Jpy.

Still alot time left in the day, but it will be interesting to see how today will close.

Pin's on daily TF, signaling end of retracement and continuation of trend are my favorite PA setups. If G/U and some of these yen pairs shape up i am in. I am still pretty basic so i am not sure if i would enter off of the break or on a fib retracement of the pin itself. Ah well.... see how today closes, still lots of time.
  • #14,402
  • Oct 14, 2008 2:16pm Oct 14, 2008 2:16pm
sometimes market can be very generous .... why ?

Take a look at usd/chf ... still i need 3 hours for my daily close ...
however todays range was the narrowest in 12 days !!
It's an IB12 ... macd divergence on daily with an Ib... possible re-test of the 1.07/1.06 area ?? ... who knows .. maybe.

The nice thing is that market is offering me a 100 pip ticket for a possible 600 pip ride ... I think that I'll take the ride ... let's see what happens .
Attached Image (click to enlarge)
Click to Enlarge Name: usdchf.gif Size: 17 KB
  • #14,403
  • Oct 14, 2008 2:27pm Oct 14, 2008 2:27pm
Jarroo,

Are you considering taking a trade on the above daily pin if it forms/breaks
PA is where its at!!
  • #14,404
  • Oct 14, 2008 4:09pm Oct 14, 2008 4:09pm
Quoting saskgui
Pin's on daily TF, signaling end of retracement and continuation of trend are my favorite PA setups. If G/U and some of these yen pairs shape up i am in. I am still pretty basic so i am not sure if i would enter off of the break or on a fib retracement of the pin itself. Ah well.... see how today closes, still lots of time.
Should be fun to see how it plays out.

Gbp/Usd
Attached Image
Indicators show the past. Price Action "Indicates" the future.
  • #14,405
  • Oct 14, 2008 4:47pm Oct 14, 2008 4:47pm
Quoting raczekfx
My favorite and The most profitable setup is approaching.....(and final TA at the same time if you're cable short)
There is plenty of time if you know what you're doing, use proper MM and spend most of your time either soaring or on the golf course....(away from your comp). Right SL....?
you re the man, Rac.
Market can stay irrational longer than you can stay solvent.
  • #14,406
  • Oct 14, 2008 4:56pm Oct 14, 2008 4:56pm
retraced to the 38 fib and formed a pin bar
Attached Image(s) (click to enlarge)
Click to Enlarge Name: AUDUSD-101408D.gif Size: 88 KB
Click to Enlarge Name: USDJPN-101408D.gif Size: 90 KB
  • #14,407
  • Oct 14, 2008 5:11pm Oct 14, 2008 5:11pm
Hi All,

After doing my due diligence i am posting my find of GBP/CHF (pissy-pound/swissy).

My feed is GMT+0. Other pins on the GBP didn't quite form according to the rule of having both eyes within the previous bar. This one is also kicking off a PPZ, correct?

I'm going to wait for a retrace and scale myself in. I'd love to hear some feedback as i'm still learning and would like to know if you think this is an A++.

Nick
Attached Image (click to enlarge)
Click to Enlarge Name: gbp usd.gif Size: 9 KB
The customer is always right!
  • #14,408
  • Oct 14, 2008 5:25pm Oct 14, 2008 5:25pm
Quoting Pipfox
Hi All,

After doing my due diligence i am posting my find of GBP/CHF (pissy-pound/swissy).

My feed is GMT+0. Other pins on the GBP didn't quite form according to the rule of having both eyes within the previous bar. This one is also kicking off a PPZ, correct?

I'm going to wait for a retrace and scale myself in. I'd love to hear some feedback as i'm still learning and would like to know if you think this is an A++.

Nick

Hey Nick

I would consider this pin and many that formed today C pins. If you notice the pin is in a heavily sideways area. This is what I call traffic. What this means is that even if price does break your way there are a lot of barriers that can come in the way.

I marked off one such PPZ area, that price may stall at. So IMO these pins are much more difficult to play then the huge nice one we got at a swing low that had room to run.

You have to be quick to move your stops or take some profits with these ones in traffic, they take a lot more time to learn to play right if you ask me.

Just my views

Mike
Attached Image (click to enlarge)
Click to Enlarge Name: a.gif Size: 12 KB
  • #14,409
  • Oct 14, 2008 5:36pm Oct 14, 2008 5:36pm
Mike,

Thank you very much for the feedback.

I am placing a TP at 19680 and will leave 1/4 on the table with a break even stop.

Nick
The customer is always right!
  • #14,410
  • Oct 14, 2008 5:41pm Oct 14, 2008 5:41pm
chart
Attached Image(s) (click to enlarge)
Click to Enlarge Name: 1014.gif Size: 27 KB
Click to Enlarge Name: 1014c.gif Size: 29 KB
  • #14,411
  • Oct 14, 2008 5:53pm Oct 14, 2008 5:53pm
James,

Thank you for another simple yet highly effective representation of "easy money".

I have always understood your charts but have never REALLY UNDERSTOOD them at the same time. Recently i have found myself begin to truely understand how simple trading is.

I do believe that thanks to you and many other generous souls on this forum I recently had an "AHA" moment. I know i still have a long way to go but I am now one step closer.

Its almost like the more you give of yourself to the markets, the more they give back!

Thank you.
The customer is always right!
  • #14,412
  • Oct 14, 2008 7:18pm Oct 14, 2008 7:18pm
well i would never say this business is easy but i will say this.

its a heck of a lot easier taking trades like the ones on the charts i just posted when your trading a large account as opposed to a small one. a large account holder can simply be patient and wait. a small account holder just cant. i know ive been there.

every month with all the pairs we have there are easily 3 to 5 lead pipe locks and usually more. if 3 trades total 300 pips and are worth 30,000 for the month is that worth it to you? sure it is. if those same 300 pips are worth 300 or less is it worth your time and effort? usually not and its why new traders overtrade and blow out accounts.

there truly is something to be said for just demo trading for as long as it takes to save enough for a large account. been there and done that also.

jim

Quoting Pipfox
James,

Thank you for another simple yet highly effective representation of "easy money".

I have always understood your charts but have never REALLY UNDERSTOOD them at the same time. Recently i have found myself begin to truely understand how simple trading is.

I do believe that thanks to you and many other generous souls on this forum I recently had an "AHA" moment. I know i still have a long way to go but I am now one step closer.

Its almost like the more you give of yourself to the markets, the more they give back!

Thank you.
  • #14,413
  • Oct 14, 2008 7:26pm Oct 14, 2008 7:26pm
Quoting james16
well i would never say this business is easy but i will say this.

its a heck of a lot easier taking trades like the ones on the charts i just posted when your trading a large account as opposed to a small one. a large account holder can simply be patient and wait. a small account holder just cant. i know ive been there.

every month with all the pairs we have there are easily 3 to 5 lead pipe locks and usually more. if 3 trades total 300 pips and are worth 30,000 for the month is that worth it to you? sure it is. if those same 300 pips are worth 300 or less is it worth your time and effort? usually not and its why new traders overtrade and blow out accounts.

there truly is something to be said for just demo trading for as long as it takes to save enough for a large account. been there and done that also.

jim
What the heck is a "lead pipe lock"? Is that a Texas thing?
Indicators show the past. Price Action "Indicates" the future.
  • #14,414
  • Oct 14, 2008 7:26pm Oct 14, 2008 7:26pm
What is "large account" for you ? I think it's 50.000 $

by the way - for imagination : what's average salary in usa ?
Quoting james16
there truly is something to be said for just demo trading for as long as it takes to save enough for a large account. been there and done that also.

jim
  • #14,415
  • Oct 14, 2008 7:28pm Oct 14, 2008 7:28pm
Quoting Jankone
What is "large account" for you ? I think it's 50.000 $

by the way - for imagination : what's average salary in usa ?
Your going to have to add more zeros to that number to have a $1000 a pip.
Indicators show the past. Price Action "Indicates" the future.
  • #14,416
  • Oct 14, 2008 7:33pm Oct 14, 2008 7:33pm
as close to a sure thing as your gonna see. i thought that was more than just a texas thing. lol.

Quoting jarroo
What the heck is a "lead pipe lock"? Is that a Texas thing?
  • #14,417
  • Oct 14, 2008 7:37pm Oct 14, 2008 7:37pm
Yes, trading is simple but not easy :-) Every trader is best "trading system" in his deep mind. Everybody wants everything for nothing. SO we are greedy,impatient, sometimes excited, sometimes dissapointed. Best goal what can trader have is "trade without emotion" but I think, it's hard but possible work,step by step, you can improve , here one thing by 1%, there one thing by 1% etc and u will be overall 10% better trader
Sometimes I feel like : Lol, my ..how to say... analysis? ( watch chart, look for PA) was perfect and I didnt take trade. Why? Fear. Next time, I see great pinbar again but I feel like a stone. It's like I haven't a mouth and I have to scream :-D And then I say.. lol THAT WAS SO EASY when pinbar make 300 pip run without me , because i'm stone.

im good in reading charts,im good about theory but im i good trader? no. fear,greed catch me. It's realy long long way but I WILL DO IT.


Quoting Pipfox
James,

Thank you for another simple yet highly effective representation of "easy money".

Thank you.
  • #14,418
  • Oct 14, 2008 7:41pm Oct 14, 2008 7:41pm
well lets look at it. 300 x 100 is 30 grand. so its trading at 100 per pip.

lets say your trading daily charts and your stop is 75 pips and your willing to risk 3 percent of your account.

250,000 x 3% = 7500/75 = 100 per pip.

is 10 grand a month enough to keep you interested and still sitting on your hands so you dont take marginal trades? i cant answer that but if it is just do the math.

250,000 x 33% = 82500

82,500 x 3% = 2475/75 = 33 per pip

33 x 300 = 9900

im about to walk out to eat but i think i got the math right.

jim

Quoting Jankone
What is "large account" for you ? I think it's 50.000 $

by the way - for imagination : what's average salary in usa ?
  • #14,419
  • Oct 14, 2008 7:42pm Oct 14, 2008 7:42pm
Quoting james16
as close to a sure thing as your gonna see. i thought that was more than just a texas thing. lol.
Oh yeah. Lead pipe lock of the week: Detroit lions will lose. lol
Indicators show the past. Price Action "Indicates" the future.
  • #14,420
  • Oct 14, 2008 8:03pm Oct 14, 2008 8:03pm
Hey this is a little off topic but for you that trade the 4hr charts I just wanted to ask for some input. This is really for anyone that trades the 4hrs, any feedback is appreciated.

I am not planning on trading or being awake for that matter to check every 4hr bar, how do you handle this? Do you just skip the 4hr bars you can't trade and check the charts every 4hrs when you can? Skip as in just pass on those trades and on modifying stops until the next 4hr not as in ignoring the bar.

I was thinking about using several different feeds (FXDD, Alpari, and IBFX) this would allow me to check the 4hr charts for several hours in a row since each broker is on a different time. Does anyone here do that?
The reason why I am asking is because I would like to start trading the 4hrs but I will most likley miss 3 bars during the course of day (school, rugby, sleep), is that manageable to still be able to trade 4hrs? Should I just stick to one broker and take the 4hrs when I can?

Sorry if that was a bit all over the place, it helped me sort my thoughts a little.
33 traders viewing now