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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

  • #341
  • Sep 27, 2005 6:28pm Sep 27, 2005 6:28pm
Quoting kermut
Thanks for your feedback Habeeb and James. I was talking about DBHLC, so a double high, and from memory, there was a 1 pip difference between the highs.

Certainly demo trading atm.

Regards,
GC
If I get it correctly, for a short, the second bar need to close lower than the low of the first bar.

I am not trading these setups yet. I am waiting for Jim's pf.


Regards,
Matsu
  • #342
  • Sep 27, 2005 8:24pm Sep 27, 2005 8:24pm
Quoting Matsu
If I get it correctly, for a short, the second bar need to close lower than the low of the first bar.

I am not trading these setups yet. I am waiting for Jim's pf.


Regards,
Matsu
yes matsu you are correct. when i first started sharing these price action bars my concern was that people would just start trading them anywhere, anytime without any consideration of other factors. this concern has been born out even though i have stated many times that they should be combined with areas of support/resistance and/or your moving average systems. you dont just trade a pin bar or a dblhc just because its there. you use them to refine and enter better trades. this is a learning process and understanding price action is a TOOL to add to whatever you are doing or however you are trading. to this day i am honored that so many people have found this subject worth learning. we shall press on to bigger and better trades. jim
  • #343
  • Sep 28, 2005 12:46pm Sep 28, 2005 12:46pm
Man there's alot of 4hr pin bars out there right now. Thought I had a pretty good daily pin on the aud but she came back and stopped me out by 5 pips only to take off again. That's ok though, followed my rules and got out at a profit.

I'm not really sure which of the 4hr's look best. Anyone out there with some solid ideas? Sure has been an interesting day though. Pipmon
LETS PLAY HOCKEY!
  • #344
  • Sep 28, 2005 2:41pm Sep 28, 2005 2:41pm
Quoting pipmonster
Man there's alot of 4hr pin bars out there right now. Thought I had a pretty good daily pin on the aud but she came back and stopped me out by 5 pips only to take off again. That's ok though, followed my rules and got out at a profit.

I'm not really sure which of the 4hr's look best. Anyone out there with some solid ideas? Sure has been an interesting day though. Pipmon
yes the aud was dissapointing. the main thing to notice is that the tail was not real long. it was not a perfect one. more of a neutral bar which we will get into in the pf. seems like your starting to get a handle on these pin bars pip. just pick them carefully. jim
  • #345
  • Sep 28, 2005 4:20pm Sep 28, 2005 4:20pm
Quote
Originally Posted by james16

yes the aud was dissapointing. the main thing to notice is that the tail was not real long. it was not a perfect one. more of a neutral bar which we will get into in the pf. seems like your starting to get a handle on these pin bars pip. just pick them carefully. jim

I think you are talking about the daily pin bar. Why is it dissapointing? I see what you mean about the tail not being long enough, but the bar after the pin bar (today's bar) only retraced about halfway down the tail. If a stop was set just under the pin the bar, you would still be in the trade, with it moving your way. Also, I have my chart set up for MB's ma cross over system which he recomends using on the one hour charts. On the daily chart you see an ma cross over just about at the pin bar, which might lead you to believe it would retrace to the ma. Would you want to use ma's of a different time frame on daily charts as apposed to the 1 hour charts? Just from what I "think" I have learned here so far, I would have thought this would be at least a B or maybe even a B+ trade. Please let me know if my reasoning is wrong, and why.

Thanks
Jimmy
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  • #346
  • Sep 28, 2005 4:36pm Sep 28, 2005 4:36pm
Quoting dangerman
I think you are talking about the daily pin bar. Why is it dissapointing? I see what you mean about the tail not being long enough, but the bar after the pin bar (today's bar) only retraced about halfway down the tail. If a stop was set just under the pin the bar, you would still be in the trade, with it moving your way. Also, I have my chart set up for MB's ma cross over system which he recomends using on the one hour charts. On the daily chart you see an ma cross over just about at the pin bar, which might lead you to believe it would retrace to the ma. Would you want to use ma's of a different time frame on daily charts as apposed to the 1 hour charts? Just from what I "think" I have learned here so far, I would have thought this would be at least a B or maybe even a B+ trade. Please let me know if my reasoning is wrong, and why.

Thanks
Jimmy
you are exactly correct jimmy, i was talking about the bar the day before. on your platform it did not even become a pin, on mine it did so thats the one i am referring to. i wondered if anyone would catch this and you did. the bar you are referring to is a great pin. jim
  • #347
  • Sep 28, 2005 5:10pm Sep 28, 2005 5:10pm
Quote
Originally Posted by james16

you are exactly correct jimmy, i was talking about the bar the day before. on your platform it did not even become a pin, on mine it did so thats the one i am referring to. i wondered if anyone would catch this and you did. the bar you are referring to is a great pin. jim

Thanks Jim. I think one of the things that makes learning so hard on a forum like this is that there are a lot of people trading on different platforms, and they also have different systems in their mind when they explain their point of view, which you really don't know about. Not that this a bad thing, rather I think it is good, and let me say that I when the lightbulbs finally start going off in my head, i will have all the people in this forum to thank. So thanks all in advance.

Also, although I have only been around this forum for a few months, I seem to notice a lot of new people posting lately. I think that responses like the one you just gave me encourage people to place an origanal post, and stick around for more. I thank you and all the other people who reside on FF for all your help to novices like myself.

Jimmy
  • #348
  • Sep 28, 2005 5:18pm Sep 28, 2005 5:18pm
Quoting dangerman
Thanks Jim. I think one of the things that makes learning so hard on a forum like this is that there are a lot of people trading on different platforms, and they also have different systems in their mind when they explain their point of view, which you really don't know about. Not that this a bad thing, rather I think it is good, and let me say that I when the lightbulbs finally start going off in my head, i will have all the people in this forum to thank. So thanks all in advance.

Also, although I have only been around this forum for a few months, I seem to notice a lot of new people posting lately. I think that responses like the one you just gave me encourage people to place an origanal post, and stick around for more. I thank you and all the other people who reside on FF for all your help to novices like myself.

Jimmy
yes it is a neat place.
  • #349
  • Sep 28, 2005 6:26pm Sep 28, 2005 6:26pm
Hello Jim,

I probably missed this in an earlier post of yours. I was wondering how much do the market fundamentals influence your trading decisions. Thanks.
  • #350
  • Sep 28, 2005 6:32pm Sep 28, 2005 6:32pm
Quoting bluemonkey
Hello Jim,

I probably missed this in an earlier post of yours. I was wondering how much do the market fundamentals influence your trading decisions. Thanks.
none, i dont even pay attention unless its very impoortant. like the rest of you i am so focused on not losing money if i add another factor i will get frozen. its happened before when i tryed to let fundamentals influence my trading. jim
  • #351
  • Sep 28, 2005 6:59pm Sep 28, 2005 6:59pm
Quoting james16
none, i dont even pay attention unless its very impoortant. like the rest of you i am so focused on not losing money if i add another factor i will get frozen. its happened before when i tryed to let fundamentals influence my trading. jim
Good. Thats what I wanted to hear.
  • #352
  • Sep 28, 2005 7:42pm Sep 28, 2005 7:42pm
Jim,

I read this thread and could not find any occasion where you posted, or was asked to post, any backtest results. Did you dump TradeStation? Did you ever develop an indicator to identify potential chart setups (showme study)? I have yet to meet someone who traded so many instruments on so many time frames and had time to keep up with a bulletin board. I have no doubt you intentions are honorable. I am certainly not questioning that but I am a little surprised that people are lining up to learn from you and have never asked for results.

Phil
  • #353
  • Sep 28, 2005 8:10pm Sep 28, 2005 8:10pm
Quote
Originally Posted by philmcgrew
I read this thread and could not find any occasion where you posted, or was asked to post, any backtest results. Did you dump TradeStation? Did you ever develop an indicator to identify potential chart setups (showme study)? I have yet to meet someone who traded so many instruments on so many time frames and had time to keep up with a bulletin board. I have no doubt you intentions are honorable. I am certainly not questioning that but I am a little surprised that people are lining up to learn from you and have never asked for results.

c'mon man, if you have read this thread you would know that James16 is trying to "teach", not backtest some system. If you want to show us a system that you think is great then go ahead!

Forget backtests, just do it live, and even if it's a demo,like I'm doing, show and tell wouild be nice.

Jimmy
  • #354
  • Sep 28, 2005 9:48pm Sep 28, 2005 9:48pm
[quote=philmcgrew]Jim,

I am certainly not questioning that but I am a little surprised that people are lining up to learn from you and have never asked for results.


[quote=philmcgrew]
You have just answered your own question. We are lining up to learn from James16, because we asked him to teach us. He didn't ask us to line up

Quinn
I started out with nothing, and I've got most of it left!
  • #355
  • Sep 28, 2005 9:51pm Sep 28, 2005 9:51pm
Quoting dangerman
Forget backtests, just do it live
Jimmy
I've read a lot of trading books over the years. That's the first time I've heard that one. Best wishes.
  • #356
  • Sep 28, 2005 11:10pm Sep 28, 2005 11:10pm
Quoting philmcgrew
Jim,

I read this thread and could not find any occasion where you posted, or was asked to post, any backtest results. Did you dump TradeStation? Did you ever develop an indicator to identify potential chart setups (showme study)? I have yet to meet someone who traded so many instruments on so many time frames and had time to keep up with a bulletin board. I have no doubt you intentions are honorable. I am certainly not questioning that but I am a little surprised that people are lining up to learn from you and have never asked for results.

Phil
fair enough questions, first i have never attempted to sell anyone anything here. i have put in countless non paid hours teaching people some of the stuff i do here. it is all of those people who have taken it and made money and started requesting something more. i was hesitant because i am honarable and i know how hard trading is. the paid forum will consist of more indepth teaching of price action and how i use it to actually trade. in addition muddbuddha will be trading his systems and fijitrader will be teaching money management and trading psychology. the paultry monthly price will seem unbvelievable based on what you will recieve compared to any other paid sight i know of and i know them all. i dont know what you mean by did i dump tradestation. i have never developed an indicator, why is that important? why do i need to produce backtest results i am not selling any kind of system i am simply teaching people price action analysis and how to combine it with some of the other things i/they do. i have stated many times i trade a lot of markets but i dont take a lot of trades. the only market i truly day trade is the financials and i dont do it every day. finally, people are lining up because the little i have shared has improved thier trading. thanks for your interest. jim
  • #357
  • Sep 28, 2005 11:20pm Sep 28, 2005 11:20pm
Quoting james16
....... finally, people are lining up because the little i have shared has improved thier trading.
spot on...roll on PF
  • #358
  • Sep 28, 2005 11:23pm Sep 28, 2005 11:23pm
Quoting philmcgrew
I've read a lot of trading books over the years. That's the first time I've heard that one. Best wishes.
phil once again i totally understand where your coming from. those that have enjoyed this thread would like a little more indepth study which i simply cant do for free. i have a mortgage to. people should they wish can subscribe for one month print it all and go on thier way. i hope they dont but its totally your call. this aint about me getting rich. i think after some discussion with my two brothers in arms its going to be 99 a month. i have paid 4 or 5 thousand dollars for what you can get in one month not including mudds and fiji's stuff. i am not worried about anyone saying they didnt get thier moneys worth, that simply is not possible. merlin can see what were doing its just not visible to all of you yet, kinda like the booker and 5min4x forums. merlin thinks i am crazy not to be charging at least 300 a month. all of this makes me feel good because once again my intentions are of the highest order which is how i always try to treat my friends.
  • #359
  • Sep 29, 2005 2:02am Sep 29, 2005 2:02am
Hi Jim,
I'm curious as to how you are going to implement the live tuition sessions.
Are you going to have group conference call using Skype or Gizmo (cheap and easy) or will you have your own EChat (ventrilo?) type server (as per ensignsoftware)?

Regards, Kosta
  • #360
  • Sep 29, 2005 2:29am Sep 29, 2005 2:29am
Quoting Kosta Berj
Hi Jim,
I'm curious as to how you are going to implement the live tuition sessions.
Are you going to have group conference call using Skype or Gizmo (cheap and easy) or will you have your own EChat (ventrilo?) type server (as per ensignsoftware)?

Regards, Kosta
wow, wasnt planning on anything like that. just daily updates on potential set ups and teaching. this is not going to be an alert service or anything at least not yet. i was going to use something like camtasia but its not workable. i am limited in what i can do here on the forum due to the infrastructure limitations. if all goes well getting my feet wet we will see what the next step will be. what it will be is a place where new traders can get an excellent education for the money. jim
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