james16 Chart Thread | Page 748 | 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

  • #14,941
  • Nov 3, 2008 6:17am Nov 3, 2008 6:17am
Quoting goldtrader
What do you guys here think about this pin? As what i have read in this thread, this is a pin bar you should trade, shouldn't it? how many percent of win you guys think it is, i hope it gone to 1.5260, stop @ 1.4390, entry at 50% ret of pin @ 1.4600, that's what i planed.
Looks like it has potential, but Price hasn't broke the PB. I would wait until Price breaks and look for a retracement.
Indicators show the past. Price Action "Indicates" the future.
  • #14,942
  • Nov 3, 2008 6:55am Nov 3, 2008 6:55am
Quoting jarroo
Looks like it has potential, but Price hasn't broke the PB. I would wait until Price breaks and look for a retracement.
Thank you, jarroo

And how about this bar, I get the feeling it has sth to tell me but i don't know what? up or down, at the open of the day i think it will up and i wait to entry near the low, now it ret near the low of the bar, i fear that i will go down , i have had the micro account, and till now: no trade

/Sorry about my bad Eng
Attached Image(s) (click to enlarge)
Click to Enlarge Name: eurcad_w.gif Size: 12 KB
Click to Enlarge Name: eurcad_d.gif Size: 13 KB
Back to the beginning ... demo
  • #14,943
  • Nov 3, 2008 11:15am Nov 3, 2008 11:15am
Hi James\jarroo\mike et al,

Just thought I'd let you guys know I've had 17 winners out of my last 19 trades using the J16 methods, my most consistent run in trading(demo).
Today i took entries on 4hr pins on G/J, G/Chf, and cable, and came out with 275 pips. However the moves went a lot further and I could have made 5-600 pips easily if I had stayed in.

My question is: as a relative newbie should I just be happy with winning trades/modest gains or should I be shooting for the big moves and riding them all the way? Also, how long do you give a trade to breathe before you get out? eg do you give a trade on the daily 3 or 4 days to go your way, and if it doesn', get out? Or leave it until it hits your stop?

as always any comments welcome guys,

cheers,

bertie
PA is where its at!!
  • #14,944
  • Nov 3, 2008 11:27am Nov 3, 2008 11:27am
Quoting bertie123
Hi James\jarroo\mike et al,

Just thought I'd let you guys know I've had 17 winners out of my last 19 trades using the J16 methods, my most consistent run in trading(demo).
Today i took entries on 4hr pins on G/J, G/Chf, and cable, and came out with 275 pips. However the moves went a lot further and I could have made 5-600 pips easily if I had stayed in.

My question is: as a relative newbie should I just be happy with winning trades/modest gains or should I be shooting for the big moves and riding them all the way? Also, how long do you give a trade to breathe before you get out? eg do you give a trade on the daily 3 or 4 days to go your way, and if it doesn', get out? Or leave it until it...
Can you post charts on some of those trades?
Indicators show the past. Price Action "Indicates" the future.
  • #14,945
  • Nov 3, 2008 11:32am Nov 3, 2008 11:32am
Quoting bertie123
Hi James\jarroo\mike et al,

Just thought I'd let you guys know I've had 17 winners out of my last 19 trades using the J16 methods, my most consistent run in trading(demo).
Today i took entries on 4hr pins on G/J, G/Chf, and cable, and came out with 275 pips....
Wow way to go bertie 17/19, don't change a thing !

The most important thing is to find what works for you with this. Each persona will have different things that they do. There is no one perfect way. For example I trail my stops almost all the time. These gives me a basis for how to manage all my trades in a similar fashion. This helped me be more consistent. Some of my exit strategies are time based. For example when I utilize a 2 bar trailing stop. That has a time based element, but I often use discretion on the longer timeframes coupled with that. For me if a trade starts lingering for a few days it is time to tighten up and prevent a full loss from occurring. Don't be upset when you don't catch a whole move. If you are having such a high win rate, as long as those 2 losers aren't completely wiping out 17 wins you are more then on the right track.

If you can hit 17/19 trades a month, you are going to be just fine at this .

Congrats and keep it up

Mike
  • #14,946
  • Nov 3, 2008 11:32am Nov 3, 2008 11:32am
Jarroo,

Sorry but using the VT platform(not Mt4) and I have not figured out how to take a screenshot on that - can do it on Mt4 but do not use Mt4 much.
Incidentally, got a 4hr pin on G/J on my platfrom but it did NOT show up as a pin on MT4. Will have another try and get back to you,

cheers,

bertie
PA is where its at!!
  • #14,947
  • Nov 3, 2008 11:35am Nov 3, 2008 11:35am
You can use print screen and ctrl+v into windows paint program...

Quoting bertie123

Sorry but using the VT platform(not Mt4) and I have not figured out how to take a screenshot on that - can do it on Mt4 but do not use Mt4 much.
Incidentally, got a 4hr pin on G/J on my platfrom but it did NOT show up as a pin on MT4. Will have another try and get back to you,

cheers,

bertie
  • #14,948
  • Nov 3, 2008 11:59am Nov 3, 2008 11:59am
I went to short when BEOB on the weekly was taken out @ 1.5230. Take 1/3 off when price reached 1.5030 due to the resistance from past. Moved S/L to B/E. Next target is 1.4750.

Ken
Attached Image
  • #14,949
  • Nov 3, 2008 12:06pm Nov 3, 2008 12:06pm
Mike,

Thanks as always for your kind words of encouragement. Maybe I am on alucky streak or something as I would be the first to admit that all of my trades are not A+ trades, although I try to take pins with the trend. Even the 2 losers were in profit at some point but let them turn round!

Although I am trying hard to think and act like I am trading with real money, I know that the psychology changes when real money is on the line. However I have tightened up my discipline and I am much more focused, so the aim is to take these good habits into real money trading.

Still have loads to learn but I am starting to see the potential of this stuff thanks to yourself, james and all the other guys.

bet wishes to all,

bertie
PA is where its at!!
  • #14,950
  • Nov 3, 2008 12:37pm Nov 3, 2008 12:37pm
Quoting bertie123
Mike,

Thanks as always for your kind words of encouragement. Maybe I am on alucky streak or something as I would be the first to admit that all of my trades are not A+ trades, although I try to take pins with the trend. Even the 2 losers were in profit at some point but let them turn round!

Although I am trying hard to think and act like I am trading with real money, I know that the psychology changes when real money is on the line. However I have tightened up my discipline and I am much more focused, so the aim is to take these good habits into real money trading.

[i]Still have loads to learn but I am starting to see the potential of this stuff thanks to yourself, james...

The VT is similar to IBFX 4 hour PB.

Nice trades bert. Mike makes some good points, your doing something right. You can't argue with success and I do not what to distract from that.

Just something to think about. If Price Action got you into a trade, why not let Price Action take you out. Also look for S/R levels as possible targets to take profits and places to hide behind for your stop losses.

I was just curious on why and where you exited.
Attached Images
Indicators show the past. Price Action "Indicates" the future.
  • #14,951
  • Nov 3, 2008 1:21pm Nov 3, 2008 1:21pm
Jarroo,

Thanks for [posting]those charts man. Yes that was one of the trades I took. Exited at 158.50, approx at the low of the previos bar and the high of bar before that, as I thought price might stall there. As usual I came out too early, doing that on most of my trades so it is something I will hve to work hard on. In the past have let a lot of winners turn in to losers, so trying to make sure I don't hand back profits. I seem to be doing well with the entries but I suppose the exits are more important. Still gotta lot of work to do!

Thanks for your advice man - like mike, I always pay attention to your posts as I am learning from them,

cheers,

bertie
PA is where its at!!
  • #14,952
  • Nov 3, 2008 1:30pm Nov 3, 2008 1:30pm
Jarroo,

Just had a quick look at that pair (G/U) - went another 250 pips after my exit!! I definitely need a lot more practice on exits!! Will take your advice on board,

bertie
PA is where its at!!
  • #14,953
  • Nov 3, 2008 1:31pm Nov 3, 2008 1:31pm
Quoting bertie123
Jarroo,

Thanks for [posting]those charts man. Yes that was one of the trades I took. Exited at 158.50, approx at the low of the previos bar and the high of bar before that, as I thought price might stall there. As usual I came out too early, doing that on most of my trades so it is something I will hve to work hard on. In the past have let a lot of winners turn in to losers, so trying to make sure I don't hand back profits. I seem to be doing well with the entries but I suppose the exits are more important. Still gotta lot of work to do!

Thanks for your advice man - like mike, I always pay attention to your posts as I am learning from them,

cheers,

bertie
Nice job bert. You sound like your on the right path my friend. It's good that your exit was based on a level that you thought was going to stall and/or reverse then just picking a random 50 pips, 100 pips, etc. Remember you can always take half or 4/5, or 9/10 or 55/56 (lol) off the table and let the rest ride.
Indicators show the past. Price Action "Indicates" the future.
  • #14,954
  • Nov 3, 2008 1:45pm Nov 3, 2008 1:45pm
Jarroo,

Thanks for your kind words. Like james and mike, as far as I am concerned you are one of the main guys I pay attention to, so please keep your charts, thoughts and comments coming thick and fast!

Whilst I love the words 'take off the table! as this implies profit!!, I suppose you have to stop thinking 'oh, I could have had another 100pips....' etc, as this is giving into the emotion of greed, one of the trader's main enemies.

Still, having winning trades while learning this stuff certainly gives encouragement to learn even more. Have to tell you though that I want to be more conservative because some of my trades are of the B + C category.
So if you find any A+ trades my friend just pass them along! LOL!

bertie
PA is where its at!!
  • #14,955
  • Nov 3, 2008 2:06pm Nov 3, 2008 2:06pm
Quoting bertie123
Jarroo,

Thanks for your kind words. Like james and mike, as far as I am concerned you are one of the main guys I pay attention to, so please keep your charts, thoughts and comments coming thick and fast!

Whilst I love the words 'take off the table! as this implies profit!!, I suppose you have to stop thinking 'oh, I could have had another 100pips....' etc, as this is giving into the emotion of greed, one of the trader's main enemies.

Still, having winning trades while learning this stuff certainly gives encouragement to learn even more. Have to tell you though that I want to be more conservative because some of my trades are of the B + C category.
So if you find any A+ trades my friend...
I am a bit more aggressive then say Mike. Trading and practising B & C trades helps me fine tuning my trading. So when an "A" trade comes along it become very easy to recognize and profit from. The key is just time and practise.
You'll get there in no time.
Indicators show the past. Price Action "Indicates" the future.
  • #14,956
  • Nov 3, 2008 2:19pm Nov 3, 2008 2:19pm
Quoting jarroo
I am a bit more aggressive then say Mike. Trading and practising B & C trades helps me fine tuning my trading. So when an \"A\" trade comes along it become very easy to recognize and profit from. The key is just time and practise.
You'll get there in no time.
thanks to people like yourself, im sure its a question of time
  • #14,957
  • Nov 3, 2008 5:21pm Nov 3, 2008 5:21pm
gbp/chf daily
Attached Image (click to enlarge)
Click to Enlarge Name: gbpchfd1.gif Size: 12 KB
  • #14,958
  • Nov 3, 2008 5:55pm Nov 3, 2008 5:55pm
1.1900 seems like a very important area. I would bet on a breakout but we've had a reversal in a similar area on usd/cad last week. Anyway we should see some kind of PA setup around this zone.
Attached Image (click to enlarge)
Click to Enlarge Name: usdchfw1.gif Size: 16 KB
  • #14,959
  • Nov 3, 2008 9:08pm Nov 3, 2008 9:08pm
Quoting boomswitch
gbp/chf daily
For me this is a beovb on possible small retracement with trend. I would have preferred the retracement to the 1.93 or 1.94 area however a peek at the 4 hour chart suggested a small breakout at around 1.84. I may take this on the 4 hour at 1.84 with tp of 1.8250. Good for a c trade on my practice account.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: gbp_chf 1day.gif Size: 8 KB
Click to Enlarge Name: gbp_chf 4hr.gif Size: 9 KB
  • #14,960
  • Nov 4, 2008 7:05am Nov 4, 2008 7:05am
Somebody here trade m5 ? I miss m5 charts. (ryanmcd style)
32 traders viewing now