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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

  • #18,861
  • Jan 16, 2009 9:11am Jan 16, 2009 9:11am
i use tradestation for virtually everything. i use met4 for here and the group only.

jim

Quoting aediaz1
OT question for james16; Have you stopped using TS since most of your charts came from mt4 now ? Just curious since I'm changing the other way
  • #18,862
  • Jan 16, 2009 9:13am Jan 16, 2009 9:13am
Quoting james16
WELL IF YOUR SERIOUS ABOUT YOUR VOW YOU WILL DO 2 THINGS.

1. read this entire thread

2. demo what you learn until your profitable for at least 3 months in a row on no less than a daily time frame.

if you will do this and stay tuned into this thread i will bet you by mid year you will be making money and indicators will not be part of it.

jim
It's amazing to see how simple the guideline seems but how difficult it can be for anyone new to the business to hang on to it. specially if you're coming from the "get rich overnight" mindset. I was one of these and it took me quite some time and mental stress to finally get this thing drilled in my dumb head.

TO ALL NEWBIES HERE LISTEN TO JAMES16 I CANNOT STRESS HOW IMPORTANT THESE GOLDEN WORDS ARE!
I believe . . .
  • #18,863
  • Jan 16, 2009 9:16am Jan 16, 2009 9:16am
geez chris i appreciate those kind words. its easy to see you could be a great help here.

thanks,

jim







Quoting Chris P
Hi Jim,

Thanks for your kind words, they mean a great deal to me coming from you. I don't post much at the moment on this thread as I have 2 businesses to run which need most of my attention. I have the time to place trades, but not to comment on everything going on. Things look set to develop later thi year which should allow me to move on from my committments and trade full time. I look forward to this next step as I'll be able to give something back to the newbs as so many have been kind enough to guide me over the last 6 months (even if they...
  • #18,864
  • Jan 16, 2009 9:20am Jan 16, 2009 9:20am
Quoting james16
i use tradestation for virtually everything. i use met4 for here and the group only.

jim
Great, would've made me skeptical if people changed from TS to mt4 lol.
Measure twice, cut once
  • #18,865
  • Jan 16, 2009 9:21am Jan 16, 2009 9:21am
TS is like getting into a fine tuned sports car especially for those of you with some real computer skills.

Quoting aediaz1
Great, would've made me skeptical if people changed from TS to mt4 lol.
  • #18,866
  • Jan 16, 2009 9:24am Jan 16, 2009 9:24am
Quoting james16
TS is like getting into a fine tuned sports car especially for those of you with some real computer skills.
What is so special abt TS Jim that in your opinion places it ahead of mt4??
I believe . . .
  • #18,867
  • Jan 16, 2009 9:31am Jan 16, 2009 9:31am
Quoting james16
TS is like getting into a fine tuned sports car especially for those of you with some real computer skills.
I would bet on that. Seems like heaven to have all markets under one platform along with millions of (customizable) options. I guess you've programmed it to give you a notification when a preferred setup occurs ?
Measure twice, cut once
  • #18,868
  • Jan 16, 2009 9:31am Jan 16, 2009 9:31am
apples and oranges to an extreme ghous. like comparing a ford to a ferrari.

to many reasons to list. dont get me wrong met is great but TS can take you to places met cant.

its not for everyone but for full time traders in multiple markets its the choice of most of them.

jim




Quoting ghous
What is so special abt TS Jim that in your opinion places it ahead of mt4??
  • #18,869
  • Jan 16, 2009 9:33am Jan 16, 2009 9:33am
i havnt but ive paid easy language experts to do it for me. i have one working on something for me right now as a matter of fact.

jim

Quoting aediaz1
I would bet on that. Seems like heaven to have all markets under one platform along with millions of (customizable) options. I guess you've programmed it to give you a notification when a preferred setup occurs ?
  • #18,870
  • Jan 16, 2009 9:37am Jan 16, 2009 9:37am
Quoting james16
i havnt but ive paid easy language experts to do it for me. i have one working on something for me right now as a matter of fact.

jim
Maybe an easier option. Just got my hands on EL user-manual, seems pretty familiar with the material learned at statistic courses at university.

Well, I've pushed my luck enough. It's great to hear some feed-back on TS, isn't too many around FF who uses it.
Measure twice, cut once
  • #18,871
  • Jan 16, 2009 9:48am Jan 16, 2009 9:48am
Quoting bertie123

...with a little time and experience your eye is trained to where pins are located and you start looking for other factors like confluence etc. I am now at this stage...
Wow!! reading this part, I really noticed Im improving myselft because I'm at That STAGE of this long journey

Reagards....
  • #18,872
  • Jan 16, 2009 9:53am Jan 16, 2009 9:53am
Hi guys how are you doing today
Just read some 10 new pages...just in a day you guys advance another 10 pages lol...I'm picking up "hidden gems" on those 10 pages

Just want to point out a trade I took recently
Usd/Cad
On the daily it didn't close as a pin bar and I was going to trade it but hesitated so I went down to the 4h chart and I found a nice IB setup, I took that IB breakout..
Using Fibs I took half of my profit at the 38.2 level and now getting on the "free trade" train, just letting my stop loss on break-even and let it run

Thanks James16,Mike,Jarroo,Ghous,Raz,Bundy and everybody else that I forgot to mentioned...another week in profit

I always learn something new,each and every time I visit this thread...

As we speak,my stop loss is triggered...
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  • #18,873
  • Jan 16, 2009 10:14am Jan 16, 2009 10:14am
Quoting bundyraider
James may have taken profit already?

...Don't know, but if I was in trade I'd be still waiting for it to hit that same area you specified earlier. Don't freak out yet. ...You're probably keeping too close an eye on it.
I feel like I am watching it too closely, but I don't want to turn this into a loser. I have my first TP at .5550 as marked on the chart--it looks like a nice ppz to me. Last night it hit a high of .5526 so 25 pips away from TP1. Price is now around where I entered and I'm waiting for it to go to .5550, but I'm not sure if thats the right thing to do.
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  • #18,874
  • Jan 16, 2009 10:37am Jan 16, 2009 10:37am
GBPJPY and CADJPY have 2 nice PBs on H4
  • #18,875
  • Jan 16, 2009 10:48am Jan 16, 2009 10:48am
Quoting ghous
My descision or for that matter anybody's descision (may it be James16) should never be the dirving force for antry or exit into a trade, if you find the confluence location etc good enogh "for your criteria" go for it...

The biggest mistake that you're vulnerable to is that before you read my post you were perhaps looking forward to the trade but after you read that I was'nt taking it you wanted to pass it too. Now replace me with Jarroo, Rac or james16 and you could have absoluetly busted your thought no matter how valid your thinking was......
Message received and understood.
TP1 hit, and stop to b/e.
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  • #18,876
  • Jan 16, 2009 10:52am Jan 16, 2009 10:52am
hello james,
heard ur thread is good for newbies like me... ive been very inconsistent wit my trades, always changing tf, indicators ,even style of trading. hope u and others here cld assist me on getting on my feet, im a very patient fellow....
pls tell me wat dis humble student has to do to be on the right path
Simplicity is the key to success
  • #18,877
  • Jan 16, 2009 11:10am Jan 16, 2009 11:10am
Quoting squeezy
hello james,
heard ur thread is good for newbies like me... ive been very inconsistent wit my trades, always changing tf, indicators ,even style of trading. hope u and others here cld assist me on getting on my feet, im a very patient fellow....
pls tell me wat dis humble student has to do to be on the right path
Hey Squeezy welcome to the place where so many know exactly where you are at. Just grab your favorite beverage and start from page 1. Take notes along the way. And work through it 1 page at a time. Seems like a monster task, but you will be so happy you did it .

Oh and enjoy it's a lot of fun

Mike
  • #18,878
  • Jan 16, 2009 11:19am Jan 16, 2009 11:19am
Quoting squeezy
hello james,
heard ur thread is good for newbies like me... ive been very inconsistent wit my trades, always changing tf, indicators ,even style of trading. hope u and others here cld assist me on getting on my feet, im a very patient fellow....
pls tell me wat dis humble student has to do to be on the right path
Enjoy
http://www.forexfactory.com/showpost...ostcount=18857
Edit: Ahh! Mike you are infront of me.
Go figure.. Simplicity work
  • #18,879
  • Jan 16, 2009 11:30am Jan 16, 2009 11:30am
Quoting james16
chart

Uh...Now I see what you guys says...big account makes you even more profitable, because few pips could give you enought for living...

Instead with small accounts you allways try to "hold" a little bit more to get more profits on each trade...It happens to me right now in my demo account.

Most experienced here may say "Patient, pray for patient until you build an account large enought to live just with a couple of trades (few pips) a month". Now I see what are you talking about....
  • #18,880
  • Jan 16, 2009 11:35am Jan 16, 2009 11:35am
thnx a lot mbqb11 and tokwanden for the welcome and tips, appreciate it...
time to start reading from the 1st page
Simplicity is the key to success
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