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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

  • #15,001
  • Nov 5, 2008 7:40am Nov 5, 2008 7:40am
Quoting giraia_br
yes, but there is a arrow in the second bar after the brakout. It is a pinbar (and IB). Did you enter when this bar was forming and touch in the TL or you waited the breal of the top of this bar?
http://www.forexfactory.com/attachme...6&d=1224773941

thanks for reply
Hey Giraia,

Yes it was the IB that I traded, but in my breakout trading I look at that type of pattern as a pullback pinbar. I ignore all things about traffic, and what not and am focused on S/R, and the "flip" in these areas holding. The price bar is simply a trigger for me.

Best
Mike
  • #15,002
  • Nov 5, 2008 7:41am Nov 5, 2008 7:41am
WOW 1000. Congrats big guy. I know this thread means more to you then can be put into words. And it means more to us then we can put into words!

To the next 1000

Mike
  • #15,003
  • Nov 5, 2008 8:11am Nov 5, 2008 8:11am
Quoting mbqb11
WOW 1000. Congrats big guy. I know this thread means more to you then can be put into words. And it means more to us then we can put into words!

To the next 1000

Mike
  • #15,004
  • Nov 5, 2008 9:14am Nov 5, 2008 9:14am
I'm one page too late, but still would like to congratulate everyone who has turned this thread into what it is.

Good work Jim! I'm sure you never expected this kind of growth.

All the best folks!

Tom
  • #15,005
  • Nov 5, 2008 9:24am Nov 5, 2008 9:24am
James (+mike and the rest!)

Congrats on 1000 pages, as far as I am concerned, of great trading material.
I am sure, like myself, that many would be traders were struggling with their trading until they found this thread.

It has certainly been a massive help to me and it has made me optimistic that I can, with a lot of hard work and determination, achieve my goals in trading.

All the very best wishes guys, and good trading to all! I will still be around when we clock 2000!

Bert
PA is where its at!!
  • #15,006
  • Nov 5, 2008 10:47am Nov 5, 2008 10:47am
Will you lot stop posting!!!!

I am struggling to keep up
Thought i'd just say hi and thank everyone, one especially Jim, for all the info posted here. I have actually been on here for a week or so now and upto page 200. (This thread was bought to my attention by Trader_Dante's thread on tread2win.com) Congrats on taking it this far.

I am a beginner and i'd love to say this has made me profitable - but sadly that's not true. However that has nothing to do with what is taught here but due to my own lack of discipline, which i am working on. (I have made profitable trades when i "do what it says on the tin"). This thread though has given me the confidence to continue my learning and keep practicising.

oh and great to see so many of you still on here 2 years later mbqb11, bundyraider, moneybags, seekinglight and of course james16 to name but a few...

i was hoping to get through this thread before joining the PF, but should i detour to the PF now? i already know from other posts that it is full of masses of info...

cheers

Simon
  • #15,007
  • Nov 5, 2008 10:49am Nov 5, 2008 10:49am
Quoting simoncs
i was hoping to get through this thread before joining the PF, but should i detour to the PF now? i already know from other posts that it is full of masses of info...

cheers

Simon

Hey Simon welcome

Wizard(trader dante), is a good guy, haven't heard from him in awhile, tell him to say hi to his first home sometime

I would spend some time working your way through this thread before joining. James posted this in another thread the other day, so I will just quote him:

Quoting james16
i think anyone considering us would be best served by spending at least 3 months in the free thread first. by then you will be able to make a very educated decision instead of a knee jerk one that gets people to sign up for trading websites.

nothing makes me feel worse than a former subscriber that wishes they had not joined. are you out thousands with us? no.
are you buying a lot of good material and time with a lot of good people? yes. is 129 a lot to wish you hadnt spent? no....edit--perhaps i should say "at least not in this business"

none of this matters though. what matters to me is you act responsibly before joining anything trading related. being responsible and business like is what the group tries to pound home every day with its members.

you can easily do that by simply spending a couple of months in the free thread first. you will know by the end of that time whether what we do fits you as a trader or not.

i would rather have 20 happy members rather than 40 with 20 being unhappy just for the extra 20's money.

it aint about the money. it never has been so DO NOT JOIN THE JAMES16 GROUP UNTIL YOU HAVE SPENT AT LEAST A COUPLE OF MONTHS IN THE FREE THREAD.

  • #15,008
  • Nov 5, 2008 11:13am Nov 5, 2008 11:13am
Can someone point me to where the "R-db setup" is explained?

Maybe it is only on the PF, and if so, that is cool, I have plenty to learn first.

I am guessing it stands for Retrace Double Bar.
  • #15,009
  • Nov 5, 2008 11:16am Nov 5, 2008 11:16am
Quoting mbqb11
Hey Simon welcome

Wizard(trader dante), is a good guy, haven't heard from him in awhile, tell him to say hi to his first home sometime

I would spend some time working your way through this thread before joining. James posted this in another thread the other day, so I will just quote him:
Thanks Mike - probably a good idea - otherwise i will end up with information overload. What with this forum and Trade2win and a couple of books i'm reading, i seem to have forgotten how to do my job
  • #15,010
  • Nov 5, 2008 11:31am Nov 5, 2008 11:31am
Quoting simoncs
Thanks Mike - probably a good idea - otherwise i will end up with information overload. What with this forum and Trade2win and a couple of books i'm reading, i seem to have forgotten how to do my job

I don't post here much, but I lurked here for a year prior to joining up with the James16 group. Frankly, I am very skeptical about anyone doing things like that on the Internet, because I cannot measure them up in a standard way. It takes time.

Good luck man - you are in a very good place here on the Factory.
I'm pretty much done with all this ...
  • #15,011
  • Nov 5, 2008 12:23pm Nov 5, 2008 12:23pm
Hi guys,

just placed a pending short order below the low of this pin bar on Gu with a mental SL above the pin bar high and the grey shaded region as the first possible profit target.

Regards,
Ghous.
Attached Image(s) (click to enlarge)
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I believe . . .
  • #15,012
  • Nov 5, 2008 12:55pm Nov 5, 2008 12:55pm
Good call Ghous. I played this conservatively, due to the higher low before the pin. I put in a limit order for the break of the pin, with my 1st target profit of only 20 pips. Put me in a free trade fast and see if rides out.
  • #15,013
  • Nov 5, 2008 1:19pm Nov 5, 2008 1:19pm
Quoting unlv_tj
Good call Ghous. I played this conservatively, due to the higher low before the pin. I put in a limit order for the break of the pin, with my 1st target profit of only 20 pips. Put me in a free trade fast and see if rides out.
1.58 region being an area of short term support and resistance seems a nice area for price to find trouble in, i have that as my first target around which i'll close half of the trade and leave the rest at breakeven, the only problem is that its 1am in the morning here lol! i'll have to manage this very carefully given the fact that i'll be away from my pc for the next 6 to 8 hours.

ps nice to see you're being conservative but a stop of 20 pips really freaks me out considering the volatility these days, it's more like being biased on quitting the trade then hanging on, ofcaorse you're being conservative but make sure this conservation does not lead you to exit prematurely Just a suggestion
I believe . . .
  • #15,014
  • Nov 5, 2008 1:30pm Nov 5, 2008 1:30pm
Quoting ghous
1.58 region being an area of short term support and resistance seems a nice area for price to find trouble in, i have that as my first target around which i'll close half of the trade and leave the rest at breakeven, the only problem is that its 1am in the morning here lol! i'll have to manage this very carefully given the fact that i'll be away from my pc for the next 6 to 8 hours.

ps nice to see you're being conservative but a stop of 20 pips really freaks me out considering the volatility these days, it's more like being biased on quitting the trade then hanging on, ofcaorse you're being conservative but make sure this conservation does not lead you to exit prematurely Just...
LOL! i am dozing off ZZzz...

the trade is currently sitting at +50, i think the best thing i can do is to put a breakeven on it and see if i am lucky enough to ride it still,

AHH hate these nights!

See ya tomorow guys! Bye...

Regards,
Ghous.
I believe . . .
  • #15,015
  • Nov 5, 2008 1:44pm Nov 5, 2008 1:44pm
Quoting simoncs
Thanks Mike - probably a good idea - otherwise i will end up with information overload. What with this forum and Trade2win and a couple of books i'm reading, i seem to have forgotten how to do my job

i have said b4 my head is hard and i have looked into other methods jim is right when he says he challenge any1 to find a more simple effective method..it simply is what it is...(his words)

i think my trading will have turned a corner know this fact is realised. good luck with your trading journey
  • #15,016
  • Nov 5, 2008 2:28pm Nov 5, 2008 2:28pm
Hope everyone is doing well. I am still doing the 5min stuff and don't go for 2% a day I just take the good trades, why sell myself short if we have 4 good trades like we did today.
Keep taking CT trades, I need more money
  • #15,017
  • Nov 5, 2008 2:35pm Nov 5, 2008 2:35pm
Quoting Ryanmcd
Hope everyone is doing well. I am still doing the 5min stuff and don't go for 2% a day I just take the good trades, why sell myself short if we have 4 good trades like we did today.
Great to hear you are doing well Ryan!

I still look over the 5 minute charts, especially on the 4 mornings I get up early enough to put it to use.

I have not built enough confidence to put a trade down on it yet, but it is coming.
  • #15,018
  • Nov 5, 2008 2:53pm Nov 5, 2008 2:53pm
chart
Attached Image (click to enlarge)
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  • #15,019
  • Nov 5, 2008 2:56pm Nov 5, 2008 2:56pm
Bugger!!....I've been away on a trading/internet-free sojourn in tropical Queensland and missed the 1000 page party

Congrats Jim, Mike and the crew here....I'll make it to the 2000 post party I promise.

Good trading all.
  • #15,020
  • Nov 5, 2008 3:10pm Nov 5, 2008 3:10pm
i was wondering who it would be. congrats.

who would have thunk it all those days ago. i know i sure didnt.

all of you have blessed me far more than i have you. trust me on that.

you have made me a better trader, a better person, a better husband, a better father and a better world citizen.

your trust in me forced me to look at some areas of my life that needed improvement.

i guess i wont know all the reasons behind this threads beginning and growth until i meet the next world but, it made me think about the next world, which was a catalyst for some inner growth successes i had been battling with for years.

when you have this many people watching what your doing and add to it that money is involved you better watch what you say and do.

you better think before you act or talk and you damn sure better try to do the right thing when no one is watching.

all of this might have been stressful if i were up to no good but since my heart WAS in the right place it has had a tremendously positive effect on my life which im greatful for.

very greatful,

jim




Quoting lacika
1000 THX for this thread.
Laszlo
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