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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

  • #15,601
  • Nov 21, 2008 2:02pm Nov 21, 2008 2:02pm
Best of luck with your trading.

cheers


Quoting benem
Thank you....you gave me the input to reinforce this aspect of my trading sistem.I'll get this reproach to grow up as trader.

cheers.
  • #15,602
  • Nov 21, 2008 2:29pm Nov 21, 2008 2:29pm
Quoting nAVIN2007
i was in the same trade, only i thought over some time perhaps it might break that low and go further down....
did u exit on the low or did u wait a bit on retrace to see if it would attemp to break the low

i got out on the bullish pin type pattern on 1hr
out of half at 1.4820, out of the rest at 1.4750.
I'm now long since 1.4712 (based on my own R-db method), after 1hr pb (off ppz) broke higher, I added to a full position on fib retrace. I'm looking for gaps on e/u, g/u, and all yen crosses when market opens on Sunday.
tip: watch for dow futures hitting 7950 ( I may lighten my positions there)
hope it helps.

R

p.s.

my current positions:
long e/u
long g/u
long g/j
long e/j
long u/j
short us/cad

I expect good profit on these crosses over the next few days...
  • #15,603
  • Nov 21, 2008 2:34pm Nov 21, 2008 2:34pm
Quoting raczekfx
out of half at 1.4820, out of the rest at 1.4750.
I'm now long since 1.4712 (based on my own R-db method), after 1hr pb (off ppz) broke higher, I added to a full position on fib retrace. I'm looking for gaps on e/u, g/u, and all yen crosses when market opens on Sunday.
tip: watch for dow futures hitting 7950 ( I may lighten my positions there)
hope it helps.

R

p.s.

my current positions:
long e/u
long g/u
long g/j
long e/j
long u/j
short us/cad

thanks for speedy reply..and good luck on those trade, hope it works out to yur plan
  • #15,604
  • Nov 21, 2008 3:00pm Nov 21, 2008 3:00pm
Guys,

To all of you who post on this thread......thanks a lot. I am beginning to learn and see the benefits of PA trading. Keep thoughts, comments and posts coming! Was working too long today so not in the markets but will be back for more next week,

Good weekend to you all,

Berti
PA is where its at!!
  • #15,605
  • Nov 22, 2008 12:12am Nov 22, 2008 12:12am
Quoting raczekfx
out of half at 1.4820, out of the rest at 1.4750.
I'm now long since 1.4712 (based on my own R-db method), after 1hr pb (off ppz) broke higher, I added to a full position on fib retrace. I'm looking for gaps on e/u, g/u, and all yen crosses when market opens on Sunday.
tip: watch for dow futures hitting 7950 ( I may lighten my positions there)
hope it helps.

R

p.s.

my current positions:
long e/u
long g/u
long g/j
long e/j
long u/j
short us/cad

I expect good profit on these crosses over the next few days...
Its awsome that you are showing how you trade, (sort of ).
I only admire what you do Mark.
As I said, you keep go getting some..... One day i'll get to where you are.
When I do, I want to go fly, never done that. only sailed....
  • #15,606
  • Nov 22, 2008 12:21am Nov 22, 2008 12:21am
Quoting raczekfx
out of half at 1.4820, out of the rest at 1.4750.
I'm now long since 1.4712 (based on my own R-db method), after 1hr pb (off ppz) broke higher, I added to a full position on fib retrace. I'm looking for gaps on e/u, g/u, and all yen crosses when market opens on Sunday.
tip: watch for dow futures hitting 7950 ( I may lighten my positions there)
hope it helps.

R

p.s.

my current positions:
long e/u
long g/u
long g/j
long e/j
long u/j
short us/cad

I expect good profit on these crosses over the next few days...

I hope these workout for ya, this news and 4-600 point swings keeps me flat every night.
Keep taking CT trades, I need more money
  • #15,607
  • Nov 22, 2008 1:33am Nov 22, 2008 1:33am
Quoting raczekfx
out of half at 1.4820, out of the rest at 1.4750.
I'm now long since 1.4712 (based on my own R-db method), after 1hr pb (off ppz) broke higher, I added to a full position on fib retrace. I'm looking for gaps on e/u, g/u, and all yen crosses when market opens on Sunday.
tip: watch for dow futures hitting 7950 ( I may lighten my positions there)
hope it helps.

R

p.s.

my current positions:
long e/u
long g/u
long g/j
long e/j
long u/j
short us/cad

I expect good profit on these crosses over the next few days...
Keep rocking Rac

I really admire each of your PA trades you take, i took the Gu short at the 1H Pb to get a better price than waiting for the 4H to close , i got burned, but does'nt matter I always enjoy my loosers as they help me learn more than any knowledge i gain from my winners.

Keep posting around, we are extermely fortunate that ppl like you can be around the forum throwing abt pieces of gem

God Bless!

Regards,
Ghous.
I believe . . .
  • #15,608
  • Nov 22, 2008 1:46am Nov 22, 2008 1:46am
can someone please explain the relation between the currencies market and other markets(s&P,dow,...)
  • #15,609
  • Edited 4:37am Nov 22, 2008 4:21am | Edited 4:37am
Quoting ezz
can someone please explain the relation between the currencies market and other markets(s&P,dow,...)

Hi Ezz

Now i am no expert (a beginner in fact) but this is my thoughts and perhaps i can be corrected if i am wrong.

The stock market in each country is a reflection of how strong people perceive that economy to be. In a similiar vain so is the currency. In order to invest in the US mkt for example a foreign investor needs to buy USD. Therefore the currency will become stronger. So if the Dow rises then i would expect USD to get stronger.
"What's good for the goose is good for the gander" - (english idiom - hmm not sure that will help)

However there is another element that comes into play with all this and that is the interest rates in that country. Hence the carry trade (which i only understand the basics) Investors will move money to countries that have a higher interest rate. Here though, there is an inverse relationship between the stockmarkets and the interest rates. ie if interest rates are cut then the stockmarket tends to go up as investors come out of the money markets and move to equities looking for better returns. For example you will see that bonds have done very well of late with the collpse of the various equity markets (eg BUND futures -a graph you should be able to get hold of)

Hope that helps (and i hope my assesment is correct) long time since i did economics


cheers

Simon

edit - just a thought - something else that might give you more insight is the calendar on this website. If you look at the important releases (the red items) you can click on them for more details about what they mean and how they effect the currency)

an example, CPI figures - Actual > Forecast = Good for currency (but interest rate futures should depreciate.)
Jobless claims/unemployment - Actual > Forecast = Bad for currency (but interest rate futures should appreciate.)
  • #15,610
  • Nov 22, 2008 6:27am Nov 22, 2008 6:27am
Quoting simoncs
Hi Ezz

Now i am no expert (a beginner in fact) but this is my thoughts and perhaps i can be corrected if i am wrong.

The stock market in each country is a reflection of how strong people perceive that economy to be. In a similiar vain so is the currency. In order to invest in the US mkt for example a foreign investor needs to buy USD. Therefore the currency will become stronger. So if the Dow rises then i would expect USD to get stronger.
"What's good for the goose is good for the gander" - (english idiom - hmm not sure that will help)...
THANKS SIMON..

i learned a lot from this assessment..i really have no clue how it all work and am glad somebody asked the very question i was myself thinking of asking..thanks for yur insights buddy...makes sense
  • #15,611
  • Nov 22, 2008 9:18am Nov 22, 2008 9:18am
hello james and everyone in the house,i have made a post on your thread and i am new to this thread as well, but i am enjoying every bit of what i am seeing here.anyway,i have just 2 questions to ask you and i will be very happy if you can help me out.

1.What is a confluence?

2.What is an Inside bar??

will be very happy if you can help

Happy pips taking
  • #15,612
  • Nov 22, 2008 9:53am Nov 22, 2008 9:53am
Quoting bjpumping
hello james and everyone in the house,i have made a post on your thread and i am new to this thread as well, but i am enjoying every bit of what i am seeing here.anyway,i have just 2 questions to ask you and i will be very happy if you can help me out.

1.What is a confluence?

2.What is an Inside bar??

will be very happy if you can help

Happy pips taking
Bjpumping,

Confluence is when you have different things lining up; such as a fib retracement, price pivot zone (ppz), moving average, round number. You look for price action in these areas.
An inside bar is a bar whose range is engulfed by the preceding bar. It has a higher low and a lower high than the previous bar. The red arrows on the chart show examples of inside bars. I hope this helps. http://www.forexfactory.com/images/icons/icon7.gif
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  • #15,613
  • Nov 22, 2008 10:19am Nov 22, 2008 10:19am
Quoting ghous
Keep rocking Rac

I really admire each of your PA trades you take, i took the Gu short at the 1H Pb to get a better price than waiting for the 4H to close , i got burned, but does'nt matter I always enjoy my loosers as they help me learn more than any knowledge i gain from my winners.

Keep posting around, we are extermely fortunate that ppl like you can be around the forum throwing abt pieces of gem

God Bless!

Regards,
Ghous.
You’re welcome guys, but most of the credit goes to James.
I’ve been using a lot of ‘crap’ (read indicators and worthless systems) since 1995. I even wasted money on many of them, but it was James16, who opened my eyes some time ago and implanted in my head, that ‘simple things’ always work the best. PA is simple and when practiced on demo for some time, you should ‘get a feel for it’.
I only added some experience, observations and mass psychology to improve my results, and that’s all, seriously.
I mainly trade off of a daily charts, but since that political B.S. at my previous workplace, I do some day trading on smaller TFs (1hr being the lowest). Sometimes I get ‘lucky’ to get in almost at ‘bottom’ of the move. That’s risky, but it’s also my style of trading and I enjoy it.
I wrote more about it in the PF some time ago, and since then, nothing has really changed. Should I go back to a corporate world again, I will move back to daily TF and use only ‘SIMPLE STUFF’. It works 80% out of time; the rest is patience, common sense and money management.

In the last 3 weeks, I made about 20 trades and every single one of them showed at least 100ps profit before reversing. Did I win all of them? No, I didn’t but that’s another story and failure to move stop to BE at some point. Bottom line is, that if you treat trading as a business, and not as some sort of exciting video game, you will succeed in the long term. There is no other way, imho.

Cheers and happy trading.

R
  • #15,614
  • Nov 22, 2008 11:04am Nov 22, 2008 11:04am
davema, thanks you so much.i really appreciate it.

i am still reading this thread but i must say its going to take lots of patience.anyway, i still want to ask...do you guys on here use other indicators with price action or just price action,fibonacci, trendlines??

and if there are any indicators....what are they?

for me i use fib and trendlines and now i want to look closely at candle formations.

answers are welcomed.

happy pips taking
  • #15,615
  • Nov 22, 2008 11:10am Nov 22, 2008 11:10am
Quoting bjpumping
davema, thanks you so much.i really appreciate it.

i am still reading this thread but i must say its going to take lots of patience.anyway, i still want to ask...do you guys on here use other indicators with price action or just price action,fibonacci, trendlines??

and if there are any indicators....what are they?

for me i use fib and trendlines and now i want to look closely at candle formations.

answers are welcomed.

happy pips taking
Nope ... no indicator only nudism
  • #15,616
  • Nov 22, 2008 11:38am Nov 22, 2008 11:38am
Trading naked hu?? You nasty traders...
Please pull my head out of my ass, I am running out of oxygen...
  • #15,617
  • Nov 22, 2008 11:43am Nov 22, 2008 11:43am
Quoting bjpumping
davema, thanks you so much.i really appreciate it.

i am still reading this thread but i must say its going to take lots of patience.anyway, i still want to ask...do you guys on here use other indicators with price action or just price action,fibonacci, trendlines??

and if there are any indicators....what are they?

for me i use fib and trendlines and now i want to look closely at candle formations.

answers are welcomed.

happy pips taking
You can use some of these like the macd, rsi, or stochastics to look for divergences, that is the only single use of indicators in James16's trading tool box.

Regards,
Ghous.
I believe . . .
  • #15,618
  • Nov 22, 2008 11:48am Nov 22, 2008 11:48am
Quoting PiPtHiEf
Trading naked hu?? You nasty traders...
there is nothing wrong in being naked. best of all it brings out your trueself in the most simple and precise way there can be keep the personification out of question and you'll see why we call ourselves "naked traders"
I believe . . .
  • #15,619
  • Edited 12:18pm Nov 22, 2008 12:14pm | Edited 12:18pm
good to see this thread still thriving.thanx everyone!!

anyone got any thoughts on this dbhlc on the 4hour gb us??
was already in from the shorter tfs but closed my position for the weekend,left open a demo trade . is anyone else in this trade!!

thanx in advance
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PATIENCE... DISCIPLINE
  • #15,620
  • Nov 22, 2008 12:14pm Nov 22, 2008 12:14pm
Quoting rustyjeff
Its awsome that you are showing how you trade, (sort of ).
I only admire what you do Mark.
As I said, you keep go getting some..... One day i'll get to where you are.
When I do, I want to go fly, never done that. only sailed....
Don't be so modest Jeff.. I know, you trade very well

Soaring is a beautiful thing. You have to try an intro flight one day.

Here are some great short videos to let you see what's it like:
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http://pl.youtube.com/watch?v=JKTTX-skuxM

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