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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

  • #16,041
  • Dec 2, 2008 3:00pm Dec 2, 2008 3:00pm
Thank you everyone for the kind words. James, I really appreciate all you do here. If I don't get this figured out in 10 years, it is what it is, but thank you so much for all that you do to help all of us looking for a way out of the rut that life brings us.

Maybe I can offer something back. As a young guy (if you consider 30 young) to the older guys. Maybe make you thankful for what you have.

I graduated college 8 years ago, and had I known life would be as miserable as it has been, I don't know if I would have ever gone. I don't need money to have fun, I grew up poor and in a small town. I can have a blast without money, I always have. It is about putting a roof over my head and food on the table.

I can't do the things in life I would like to do (travel, meet women, start a family some day, etc, etc.) due to money. 8 years of eating the cheapest food I can find, cutting every corner imaginable, and I am still way behind the game. My field has lay offs right and left, and I am not even good at what I do. I would never find another job in this field.

It isn't just me the 30 year old, my parents are in the same boat. They have lived well under their means all their lives. They have saved, lived cheap, got college degrees at 22 and all that. And now they are both probably going to be forced into early retirement and soon working for $8 an hour while some 26 year old manager tells them to pick up the pace until they finally reach their late 60's.

Money is king. Not because it can buy you a big house or a new boat. But because it can put food in your stomach and a roof over your head. Young guys, start saving now, things are getting tougher.

Thank you for all your help here. The only joy I have in life is looking over this forum and the intelligence shared here. I mean it.
  • #16,042
  • Dec 2, 2008 3:13pm Dec 2, 2008 3:13pm
Quoting unlv_tj
Money is king. Not because it can buy you a big house or a new boat. But because it can put food in your stomach and a roof over your head.
Exactly. While it has been shown repeatedly that people who have a lot of money are not happier, it sure doesn't hurt.

Let's put it this way -- every person that I know who makes good money, and owns a very nice house, drives two or three nice cars -- they sure don't seem unhappy to me...

It's easy to talk about how money doesn't bring you happiness when you got a lot of it sitting around in your bank account. But ask the guy who's still trying to make a dollar out of fifteen cents how happy he is...

The dirty little secret is that the guys at the top don't want you to know just how damn happy they are! That's why you're at the bottom and they're at the top!
Mr. Trend
  • #16,043
  • Dec 2, 2008 3:20pm Dec 2, 2008 3:20pm
Man,

you somehow touched my soul with your post. But please be aware that these believes are not conducive to becoming a good trader. I mean you are always coming from a position of lack and what is most important is the belief that you can be successful. And if you are feeling sad all the time it's probably not going to work. Have you had a look into some self help literature. I do not like this term because it kinda assumes that something's wrong with you but I think you would benefit from reading some books on happiness and success. What I'd recommend is Napoleon Hill's "Think and Grow Rich". It's a classic and you can't read it often enough but what's written in this book is really powerful. I know it's tough to be happy in your position but there are people that have even less and are happy. Do not compare yourself to others and make a list of the things you are grateful for in your life right now, this will change your mindset.

Ad trading:

You will get there! Start with trading pinbars at swinghighs/lows that are large in size and that protrude from the preceding bars (i.e. no traffic). Trade nothing else until you internalised that. Then move to other timeframes or start trading some of the other setups presented here. It's all in this thread and you do not have to look anywhere else. Focusing on ONE setup is key. Follow all the examples, especially from the advanced guys like Mike, jarroo, bundy, raczek, seeking and many others...

Keep up your motivation and be happy.
  • #16,044
  • Dec 2, 2008 3:32pm Dec 2, 2008 3:32pm
Quoting unlv_tj
Thank you everyone for the kind words. James, I really appreciate all you do here. If I don't get this figured out in 10 years, it is what it is, but thank you so much for all that you do to help all of us looking for a way out of the rut that life brings us.

Maybe I can offer something back. As a young guy (if you consider 30 young) to the older guys. Maybe make you thankful for what you have.

I graduated college 8 years ago, and had I known life would be as miserable as it has been, I don't know if I would have ever gone. I don't need money...
Hey, without revealing too much but I have been in the same boat. My dad had businesses but lost it all with economic down turn after 9/11. We saw some very dark days but my dad never gave up (I prpobably did) but he was able to get back up on his feet because he never gave up. He kept on struggling and he had family and friends that were very supportive of him.

Now I see the light at the end of the tunnel. I didn't grow up with money, my parents came from a humble background. My mom always keeps on telling me "dark days don't always last" (loosely translated). I have been waiting for a long time for things to turn around and slowly, now I am seeing the light at the end of the tunnel.

You'll have your sunny days. "Never Give Up" or in the case of my college motto "Never Give In".

If you ever need anyone to talk to, send me a pm.

Take care!

Ash
Humble Lifetime Member
  • #16,045
  • Dec 2, 2008 4:02pm Dec 2, 2008 4:02pm
Quoting Mr Trend
I would say that location is actually the most important thing.
Locashen , Locashen , Locashen.

And good to hear from you again Mr T.

...To all newcomers in here, A poster to listen too.
Bundy's status today: "Waiting..."
  • #16,046
  • Dec 2, 2008 4:18pm Dec 2, 2008 4:18pm
Quoting jarroo
I think raczekfx would agree with you sir.
Absolutely. By taking a trade at 'the right location', you're increasing your chances greatly, where on the other hand trading just to trade, will make other people rich, not you. First chart is what I consider 'right location'. A pin bar (not the perfect one ) or bub off of weekly price pivot, 61fib and round number confluence. There is no 100% guarantee that it will work out, but at least you cherry pick your trades. When it fails, you accept it and move on to the next trade knowing that you did your homework. Losses are part of this business, but our work is to minimize them.
Second chart is what I consider 'no trade' or bad location. Some might say it's a pb or nice looking BB, however it's in the midle of consolidation area and chances that it will work out are slim. It also appeared right after Beovb, so that alone should make you think twice before jumping in.
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  • #16,047
  • Dec 2, 2008 4:19pm Dec 2, 2008 4:19pm
Quoting bundyraider
Locashen , Locashen , Locashen.

And good to hear from you again Mr T.

...To all newcomers in here, A poster to listen too.
Yes Mr. Trend is the Man
He also has a nice trading website. Good to see you W.
  • #16,048
  • Dec 2, 2008 4:23pm Dec 2, 2008 4:23pm
Quoting raczekfx
Yes Mr. Trend is the Man
He also has a nice trading website. Good to see you W.
Hehe thanks. You guys are a riot...
Mr. Trend
  • #16,049
  • Dec 2, 2008 4:29pm Dec 2, 2008 4:29pm
your the kinda people i want in this thread ash.

thanks,

jim

Quoting Ash
Hey, without revealing too much but I have been in the same boat. My dad had businesses but lost it all with economic down turn after 9/11. We saw some very dark days but my dad never gave up (I prpobably did) but he was able to get back up on his feet because he never gave up. He kept on struggling and he had family and friends that were very supportive of him.

Now I see the light at the end of the tunnel. I didn't grow up with money, my parents came from a humble background. My mom always keeps on telling me "dark days don't always last"...
  • #16,050
  • Dec 2, 2008 4:30pm Dec 2, 2008 4:30pm
Quoting raczekfx
....
Second chart is what I consider 'no trade' or bad location. Some might say it's a pb or nice looking BB, however it's in the midle of consolidation area and chances that it will work out are slim. It also appeared right after Beovb, so that alone should make you think twice before jumping in.
Having said all that, it does not mean that you can't make money on that bar. Some people here trade on smaller TF and when you analyze that daily BUB on 4hr, you should notice that we had a pb off of ppz. That pb would be in a good location as well, if I traded on 4hr...
Another important question is where to take a profit, but that's up to a trader. If you watched James16 free videos, you would make at least 100ps..
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  • #16,051
  • Dec 2, 2008 4:35pm Dec 2, 2008 4:35pm
good to see you hanging out MT.

Jim

Quoting Mr Trend
Hehe thanks. You guys are a riot...
  • #16,052
  • Dec 2, 2008 5:49pm Dec 2, 2008 5:49pm
To Unlv:
Hey, I wanted to share a little with you for some encouragement or to get you to think a little. I am the oldest of 10 children. I grew up in a farming community in Michigan, my dad is a teacher and my mother had a full time job raising us kids. We qualified for welfare, but never applied because we chose not to. We were not dirt poor, but we heated our 150 year old farm home with wood, so every summer we bailed hay, chopped wood, and tended our garden. I never really went to college for an education in a trade or other field, but I knew how to work hard. I got a job out of high school doing concrete work, poured walls and flat work. If anyone has done it, you know that it is pure man up labor. Later, I got a job in the building industry, where I learned all I could every chance I got, and I eventually got licensed and started my own company. I did quite well, but my wife and I decided to travel the world and do ministry work, basically working with the poorest of the poor. I now manage accounts and am supported by my home church. I have seen and worked with the poorest people in both the Eastern and Western hemispheres of the world. When I say poor, I mean starving and scavenging on trash or eating mud pies in Haiti. Here is the thing. Many of them are actually happy. Don't get me wrong, they deal with unbelievable issues, dying friends, unbearable diseases, hunger and thirst, pain, but they KNOW NOTHING MORE! They are not perfect of course, they still suffer from the same issues as the wealthy such as wanting good for their families, education, shelter, legacy, basic human needs, etc. But they still laugh, dream, and live life for what it is worth. My conclusion to this is that happiness, and this gets back to what James posted, is not something to be acquired. It is a state of mind, a decision, a choice. There is ONLY ONE MEASURE in this world that is worth being concerned with, and that is, are you who you want to be? When we compare our situation with what is around us, we either tend to be arrogant and prideful, or unsatisfied and wanting. Take care, and you can pm me too if you like, Dion.
  • #16,053
  • Dec 2, 2008 6:10pm Dec 2, 2008 6:10pm
The more money you have, the more you have to stress about.

If you think money is the key to happiness, you'll never think you have enough, no matter how much you get.

You can't take money with you to the grave, its worth nothing at that point.

Be wise, be balanced.
  • #16,054
  • Dec 2, 2008 6:29pm Dec 2, 2008 6:29pm
Glad to see Mr.Trend in here......

(whispering...."Security....security.....")



Clockwork
  • #16,055
  • Dec 2, 2008 6:45pm Dec 2, 2008 6:45pm
Quoting Blackinc
The more money you have, the more you have to stress about.

If you think money is the key to happiness, you'll never think you have enough, no matter how much you get.

You can't take money with you to the grave, its worth nothing at that point.

Be wise, be balanced.
"It is the heart that makes a man rich. He is rich according to what he is, not according to what he has". Henry Ward Beecher
  • #16,056
  • Dec 2, 2008 6:58pm Dec 2, 2008 6:58pm
Quoting clockwork71
Glad to see Mr.Trend in here......

(whispering...."Security....security.....")



Clockwork
Clockwork, ya ole dirty bastard, how ya doing...

Hey, I got a new shirt you'd love... flava flav wearing a viking helmet right on the front with a big ole watch and it says, "You know what time it is!"

Hell yeah son.
Mr. Trend
  • #16,057
  • Dec 2, 2008 7:07pm Dec 2, 2008 7:07pm
Quoting Jankone
It was a retard pin..actually not even pinbar..., you can blow your acc on this stupid CT trades so go to the #1 .. or good luck with m15 bad pins, you will need it .
no offense
I don't usually trade on low TF but here with the ECB rate cut coming everyone was expecting the price to go down after a retrace to 1.27 because it's a key level. I looked on smaller TF's just to find the better and earlier entry as possible. Also, we now have a pin bar on the H4 which, I agree with you, is way more reliable.
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  • #16,058
  • Dec 2, 2008 7:39pm Dec 2, 2008 7:39pm
Quoting HipsterPipster
To Unlv:
Hey, I wanted to share a little with you for some encouragement or to get you to think a little. I am the oldest of 10 children. I grew up in a farming community in Michigan, my dad is a teacher and my mother had a full time job raising us kids. We qualified for welfare, but never applied because we chose not to. We were not dirt poor, but we heated our 150 year old farm home with wood, so every summer we bailed hay, chopped wood, and tended our garden. I never really went to college for an education in a trade or other field, but I knew...

nice. Dion.
  • #16,059
  • Dec 2, 2008 7:42pm Dec 2, 2008 7:42pm
Quoting clockwork71
Glad to see Mr.Trend in here......

(whispering...."Security....security.....")



Clockwork
Hey Clock, wheres the new avatar????
  • #16,060
  • Dec 3, 2008 12:49am Dec 3, 2008 12:49am
Quoting Mr Trend
Exactly. While it has been shown repeatedly that people who have a lot of money are not happier, it sure doesn't hurt.

Let's put it this way -- every person that I know who makes good money, and owns a very nice house, drives two or three nice cars -- they sure don't seem unhappy to me...

It's easy to talk about how money doesn't bring you happiness when you got a lot of it sitting around in your bank account. But ask the guy who's still trying to make a dollar out of fifteen cents how happy he is...

The dirty little secret is that...
Can't agree with you more. But let me simplified if you dont mind.

Money is not everything but everything (or almost everything) needs money
Go figure.. Simplicity work
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