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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

  • #19,681
  • Jan 27, 2009 10:59am Jan 27, 2009 10:59am
Quoting advfntrader
this isn't as easy as many make out.

still losing in my demo account. guess I'm trading too many "traffic" pins.
far from easy, takes a lot of time and practice...Most won't make it, just the reality. But those that don't get lost in indicator hell, and practice and learn to read a chart in a simplistic manner have a shot at least. Then they have to battle their egos. The true battle.


Mike
  • #19,682
  • Jan 27, 2009 11:40am Jan 27, 2009 11:40am
Quoting mbqb11
Hey Tom,

Where's my emails?

No prediction, just logic

Was a 4hr pin of the 90, trading into heavy traffic(blue box). If you took this you better have taken your profit or moved your stops. I will wait for a better play

Hope the baby is doing well
Mike
Don't worry, I havent forgot you bud. Emails will be coming.
Yeah the PA around 90.00 wasn't great. I was hoping for a 1H pin or something. (new guys, ignore that timeframe reference )

Baby is doing very well MB. Thanks.

PS: For people who want to have a closer look at how price interacts with round numbers, you can go down to a small timeframe and see. (I dont recommend trading it, just seeing a clearer picture)

Tom
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  • #19,683
  • Jan 27, 2009 12:33pm Jan 27, 2009 12:33pm
Quoting squeezy
thnx ghous
pls wat is delaying cadchf from falling...
been waitin all day, im patient though
im up jst +20pips
We do have a minor ppz around 0.925...plus we're on to the asian sessions which are packed with less action anyways...

However patience is money,

Relax and take some time off, the only reason why you're sick of seeing it stuck around breakeven is because you're watching it to much. I can understand the ebullience that keeps you glued to the screen but when taking trades off the daily you should not be around all the time trying to catch every single move the market makes, believe it or not it plays on you from a pychological aspect, has to do with the fact that you're more willing to close a negitive trade which you've been watching for 8 damn hours rather than a negitive trade you saw just as you came in from a great party at your best friend's place. That periodic gap between your trading and other stuff is more important than it seems at first...

Take some time off, go have a nice cup of coffee, feed the dogs, be out with friends...enjoy the luxury that the higher tfs have as an added advantage over shorter term trading

Regards,
Ghous.
I believe . . .
  • #19,684
  • Jan 27, 2009 12:47pm Jan 27, 2009 12:47pm
Quoting ghous
Take some time off, go have a nice cup of coffee, feed the dogs, be out with friends...enjoy the luxury that the higher tfs have as an added advantage over shorter term trading

Regards,
Ghous.
I'll second that....I kinda love that actually
"enjoy the luxury that the higher tfs have as an added advantage over shorter term trading"

I'm into trading for freedom in life not another burden and chained to the monitor
  • #19,685
  • Jan 27, 2009 1:07pm Jan 27, 2009 1:07pm
Quoting ghous
We do have a minor ppz around 0.925...plus we're on to the asian sessions which are packed with less action anyways...

However patience is money,

Relax and take some time off, the only reason why you're sick of seeing it stuck around breakeven is because you're watching it to much. I can understand the ebullience that keeps you glued to the screen but when taking trades off the daily you should not be around all the time trying to catch every single move the market makes, believe it or not it plays on you from a pychological aspect, has...
"Don't trade to trade . . . trade to win." - James16
  • #19,686
  • Jan 27, 2009 1:15pm Jan 27, 2009 1:15pm
Quoting ghous
We do have a minor ppz around 0.925...plus we're on to the asian sessions which are packed with less action anyways...

However patience is money,

Relax and take some time off, the only reason why you're sick of seeing it stuck around breakeven is because you're watching it to much. I can understand the ebullience that keeps you glued to the screen but when taking trades off the daily you should not be around all the time trying to catch every single move the market makes, believe it or not it plays on you from a pychological aspect, has...
thnx ghousimagine im trading daily tf and still staring as if it was 15 minhahahahahha, silly methnx palneed to work on my time mgtlater peepsprobably be back london time
Simplicity is the key to success
  • #19,687
  • Jan 27, 2009 1:21pm Jan 27, 2009 1:21pm
Quoting ghous
We do have a minor ppz around 0.925...plus we're on to the asian sessions which are packed with less action anyways...

However patience is money,

Relax and take some time off, the only reason why you're sick of seeing it stuck around breakeven is because you're watching it to much. I can understand the ebullience that keeps you glued to the screen but when taking trades off the daily you should not be around all the time trying to catch every single move the market makes, believe it or not it plays on you from a pychological aspect, has...
thnx ghousimagine im trading daily tf and still staring as if it was 15 minhahahahahha, silly methnx palneed to work on my time mgtlater peepsprobably be back london time
Simplicity is the key to success
  • #19,688
  • Jan 27, 2009 1:25pm Jan 27, 2009 1:25pm
thnx ghous
imagine im trading daily tf and still staring as if it was 15 min
hahahahahha, silly me
thnx pal
need to work on my time mgt
later peeps
probably be back london time
Simplicity is the key to success
  • #19,689
  • Jan 27, 2009 1:29pm Jan 27, 2009 1:29pm
keyboard problems?

Quoting squeezy
thnx ghous
imagine im trading daily tf and still staring as if it was 15 min
hahahahahha, silly me
thnx pal
need to work on my time mgt
later peeps
probably be back london time
  • #19,690
  • Jan 27, 2009 1:34pm Jan 27, 2009 1:34pm
Anyone on this?
Eur/usd...
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  • #19,691
  • Jan 27, 2009 1:46pm Jan 27, 2009 1:46pm
Quoting Pipshower
Anyone on this?
Eur/usd...
I would be slightly concerned with the 1.3080 zone where you could see some previous bar highs.
Thank you Malcolm, Belekas, Jim, raczekfx and Ryanmcd !
  • #19,692
  • Jan 27, 2009 1:47pm Jan 27, 2009 1:47pm
Quoting Pipshower
Anyone on this?
Eur/usd...
I think I will be. Not only because of the pinbar set up, as I do not believe that it is a perfect one seeing how it will be dropping straight back into a congested area is just escaped out of.

However, fundamentally I am still both bullish on the dollar and bearish on the euro. So i think I will be taking the break of 1.3115 and taking profits at 1.2875 or so
  • #19,693
  • Jan 27, 2009 1:57pm Jan 27, 2009 1:57pm
Quoting Pipshower
Anyone on this?
Eur/usd...

Will depend on the close of the day, for me in 2 hours.

Josh
  • #19,694
  • Jan 27, 2009 1:58pm Jan 27, 2009 1:58pm
Quoting djambazov84
I would be slightly concerned with the 1.3080 zone where you could see some previous bar highs.
The conservative approach will have first TP of 1.3055 to 1.3060 region..
And if that one is taken out we will have 1.30 as the next ...

Regards
Pipshower
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  • #19,695
  • Jan 27, 2009 2:02pm Jan 27, 2009 2:02pm
Quoting Pipshower
The conservative approach will have first TP of 1.3055 to 1.3060 region..
And if that one is taken out we will have 1.30 as the next ...

Regards
Pipshower
Where would you set your stop in your conservative approach?
  • #19,696
  • Jan 27, 2009 2:12pm Jan 27, 2009 2:12pm
Quoting Lamdun
Where would you set your stop in your conservative approach?
Here you see it posted on the chart..


Regards
Pipshower
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  • #19,697
  • Jan 27, 2009 2:39pm Jan 27, 2009 2:39pm
Hi Pipshower,
As Im already out with most of the position I would like to ask when do you move SL to BE?

Thank you
  • #19,698
  • Jan 27, 2009 2:50pm Jan 27, 2009 2:50pm
James 16 thread was recomended to me a couple weeks ago, i read almost every single page of this thread, after looking for a method for over 2 years this one made more sense to me and is simple. (plus the Daily chart is great when you have a family) I have a great 2-3 min video that I would like to share, and will show you why to be the best you have to follow your plan and rules... and look for only the best trades. you will understand when you see it. Enjoy!

http://www.212movie.com/
  • #19,699
  • Jan 27, 2009 2:52pm Jan 27, 2009 2:52pm
Quoting alter
Hi Pipshower,
As Im already out with most of the position I would like to ask when do you move SL to BE?

Thank you
In this trade i havent moved my SL TO BE because of the daily chart i posted earlier.
I have kept my SL and TP as they are since the confluence of daily trendline with strong PPZ region where the PB was formed and i entered on the break of it . I am looking forward to see either of them taken out . There is 1 hr more for my daily bar to close.
But this is due to this special case . Ideally i would move my SL TO BE when the trade passes through next important round number or is at + 50 .Though this varies with each trader and with each situation set ups.

Regards
Pipshower
  • #19,700
  • Jan 27, 2009 3:11pm Jan 27, 2009 3:11pm
Quoting Pipshower
Here you see it posted on the chart..


Regards
Pipshower
ah, i see. so you entered in at the 1h PB. I was hesitant to enter there because of the failed PB earlier at around 1.3200. But good job on your entry. The reason I asked you your SL was because I had assumed you were going to just play the daily pin, which of course would make the R:R on your TPs less than optimal. But yours looks good so far.
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