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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

  • #19,881
  • Jan 29, 2009 12:27pm Jan 29, 2009 12:27pm
Here is one of the few pairs I am watching...

Nice Pb (possibly...) at a swing high, what makes it interesting is the possibility of the break of the pin and the test of 1.25 which may give way to a weekly Pin bar...


Regards,
Ghous.
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I believe . . .
  • #19,882
  • Jan 29, 2009 12:36pm Jan 29, 2009 12:36pm
Another pair worth eyeballing...

A TBH (Two Bar High) the existance of which can be described in quite a few ways.

1) resistance (temporary, the tail to the south of the today's bar points out at that) at the 61.8 fib

2) restest of the resistance trendline broken earlier, (Mike should be on this one)

3) resistance at the 0.59 round number.

No matter how you put it, the highs being at a good location could be worth some pips as there is quite some room for the trade to move in after a possible initial hesitation around the grey rectangle. (A super conservative trade has to be at the break of this rectangle)

Regards,
Ghous.
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I believe . . .
  • #19,883
  • Jan 29, 2009 12:57pm Jan 29, 2009 12:57pm
OK ITS BEEN A WEEK OR TWO SO HERE IT COMES AGAIN. this is not directed at anyone in particular because i never know who is demoing and who isnt. its a general statement that i make from time to time to get in the face of those new to this thread.


if you are trading this material (or any for that matter) without proving your competence on demo first your just being plain dumb.

if your trading this material on intraday time frames without proving your competence on demo first your just plain stupid.

having stupiditis is not rare in this business its a plague.

i had it for years and i can tell you one thing for sure.

going broke by being stupid was my fault when i did it and it will be your fault when you do it.

  • #19,884
  • Jan 29, 2009 12:58pm Jan 29, 2009 12:58pm
Amen!
Had a bad case of stupiditis too.
  • #19,885
  • Jan 29, 2009 1:05pm Jan 29, 2009 1:05pm
Evening Jim, Just back in from Uni,

You have surely answered this before but the answer escapes me, how many accounts did you blow before you were profitable ? (Im possibly wrongly presuming that you did . . but the number three keeps springing to my mind for reasons that escape me)
  • #19,886
  • Jan 29, 2009 1:17pm Jan 29, 2009 1:17pm
i had 8 years in a row losing money and well into 6 figures lost during those years.


Quoting Jigsaw
Evening Jim, Just back in from Uni,

You have surely answered this before but the answer escapes me, how many accounts did you blow before you were profitable ? (Im possibly wrongly presuming that you did . . but the number three keeps springing to my mind for reasons that escape me)
  • #19,887
  • Jan 29, 2009 1:21pm Jan 29, 2009 1:21pm
Quoting james16
i had 8 years in a row losing money and well into 6 figures lost during those years.
Powerful stuff. If that doesn't change a traders thinking, nothing will.
Indicators show the past. Price Action "Indicates" the future.
  • #19,888
  • Jan 29, 2009 1:22pm Jan 29, 2009 1:22pm
Quoting james16
i had 8 years in a row losing money and well into 6 figures lost during those years.
How . . .

How did you keep persisting ? Thats dogged determination there . . . The financial side of it is harsh enough . . . But I am just considering the emotional side of it as well . .

Persistance truly does pay off I guess . . Wasn't it Churchill who said something like "All we have to do to conquer, is endure" . . .
  • #19,889
  • Jan 29, 2009 1:29pm Jan 29, 2009 1:29pm
Quoting jarroo
Powerful stuff. If that doesn't change a traders thinking, nothing will.
X2 . . .
  • #19,890
  • Jan 29, 2009 1:29pm Jan 29, 2009 1:29pm
Quoting Jigsaw
How . . .

How did you keep persisting ?
Doesn't surprise me one bit.


As much as i have learned from James about trading, I can tell you I have learned even far more from him about life. Lucky to have got to know him so well. He is truly a good energy.

Mike
  • #19,891
  • Jan 29, 2009 1:33pm Jan 29, 2009 1:33pm
Quoting mbqb11
Doesn't surprise me one bit.


As much as i have learned from James about trading, I can tell you I have learned even far more from him about life. Lucky to have got to know him so well. He is truly a good energy.

Mike
Yeah,

8years . . It's truly an example of being indominitable . . Whats that saying, Fall down 7 times get up 8, It's not if we fall but how we rise . . .
  • #19,892
  • Jan 29, 2009 1:43pm Jan 29, 2009 1:43pm
This was a great oppportunity.

1 hour pin bar of the 150 EMA with bullish daily PA as support.
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  • #19,893
  • Edited 2:09pm Jan 29, 2009 1:59pm | Edited 2:09pm
ive thought about it a lot since entering middle age. i was taught as a child that there are two types of people. those that go down to the field to play the game and those that sit in the stands and watch. most sit in the stands which is fine but my father taught me that true happiness in life comes from not letting fear rule your life.

most people have dreams but are afraid TO REALLY TRY FOR THEM.

failing to me is just like edison said. i havnt failed ive just found 10,000 ways that dont work.

i dont know any other way to be. if im interested in something and the answers are hard to find then so be it. i will keep looking until my time here is up.


Quoting Jigsaw
How . . .

How did you keep persisting ? Thats dogged determination there . . . The financial side of it is harsh enough . . . But I am just considering the emotional side of it as well . .

Persistance truly does pay off I guess . . Wasn't it Churchill who said something like "All we have to do to conquer, is endure" . . .
  • #19,894
  • Jan 29, 2009 2:03pm Jan 29, 2009 2:03pm
Quoting james16
ive thought about it a lot since entering middle age. i was taught as a child that there are types of people. those that go down to the field to play the game and those that sit in the stands and watch. most sit in the stands which is fine but my father taught me that true happiness in life comes from not letting fear rule your life.

most people have dreams but are afraid TO REALLY TRY FOR THEM.

failing to me is just like edison said. i havnt failed ive just found 10,000 ways that dont work.

i dont know any other way to be. if im interested...
Very well said Jim!
  • #19,895
  • Jan 29, 2009 2:20pm Jan 29, 2009 2:20pm
Quoting james16
...true happiness in life comes from not letting fear rule your life.

most people have dreams but are afraid TO REALLY TRY FOR THEM.

failing to me is just like edison said. i havnt failed ive just found 10,000 ways that dont work.
...
Nicely said Jim. Though I'm still young and my experience is very limited compared to any senior traders, but I believe the reasons some people failed is because they haven't try long enough. Some almost reach the destination though they haven't realized yet, so they just give up. If they persevere, they will succeed eventually. Only time will tell.
  • #19,896
  • Jan 29, 2009 3:02pm Jan 29, 2009 3:02pm
Quoting james16
my father taught me that true happiness in life comes from not letting fear rule your life.

most people have dreams but are afraid TO REALLY TRY FOR THEM.
nice saying, JIM. I will put it on my wall.

from a fan.
Market can stay irrational longer than you can stay solvent.
  • #19,897
  • Jan 29, 2009 3:32pm Jan 29, 2009 3:32pm
Quoting james16
ive thought about it a lot since entering middle age. i was taught as a child that there are two types of people. those that go down to the field to play the game and those that sit in the stands and watch. most sit in the stands which is fine but my father taught me that true happiness in life comes from not letting fear rule your life.

most people have dreams but are afraid TO REALLY TRY FOR THEM.

failing to me is just like edison said. i havnt failed ive just found 10,000 ways that dont work.

i dont know any other way to be. if im interested...
Hear Hear!!

I have had another appalling week after 6 good ones which has taken the wind out of my sails a bit but I know this stuff works and i know the mistakes i have made. I will get there soon enough.

"I've missed more than 9,000 shots in my career, I've lost almost 300 games. Twenty six times I've been trusted to take the game winning shot and missed. I've failed over and over and over in my life. And that's why I succeed!" - Michael Jordan
  • #19,898
  • Jan 29, 2009 3:37pm Jan 29, 2009 3:37pm
post a couple of charts of what you did this week simon or if you prefer email them to me.

jim



Quoting simoncs
Hear Hear!!

I have had another appalling week after 6 good ones which has taken the wind out of my sails a bit but I know this stuff works and i know the mistakes i have made. I will get there soon enough.

"I've missed more than 9,000 shots in my career, I've lost almost 300 games. Twenty six times I've been trusted to take the game winning shot and missed. I've failed over and over and over in my life. And that's why I succeed!" - Michael Jordan
  • #19,899
  • Jan 29, 2009 3:38pm Jan 29, 2009 3:38pm
Quoting arcus
...

Anyway, this is what I'm currently watching. Going to hold or going to break
I was hoping this would be a PB but with ~20 minutes left, I guess not. And even if it is PB, not very good location though price bounced from 1.5800 (round number+PPZ). And price range getting smaller, so my plan is to have tight SL for this trade and better wait for breakout.
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  • #19,900
  • Jan 29, 2009 3:41pm Jan 29, 2009 3:41pm
ok i dont normally announce anything about guest videos but i just posted about 10 from both myself and mbqb11. there are so many i thought i would let you all know.
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