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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

  • #19,981
  • Jan 30, 2009 8:32am Jan 30, 2009 8:32am
Quoting bundyraider
OOooooooo....

Tripple divergence on the 1 hour.
Patience pays off (8 times out of 10)...
  • #19,982
  • Edited 8:58am Jan 30, 2009 8:39am | Edited 8:58am
trading in the zone...
.

Quoting ayour2a
hello Rac,
am one of ur fan.pls what MA do u have on ur GBPUSD chart?
ayour2a
60ema
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  • #19,983
  • Jan 30, 2009 8:50am Jan 30, 2009 8:50am
Quoting raczekfx
trading in the zone...
.
hello Rac,
am one of ur fan.pls what MA do u have on ur GBPUSD chart?
ayour2a
  • #19,984
  • Jan 30, 2009 8:54am Jan 30, 2009 8:54am
Quoting ghous
It get's eaiser when you want to smile at your failures Roo, well done!
thanks, im trying hard to smile at my fauilure. well actually my fault and mistake, as I jumped in without any setup. but lucky, I got SL
  • #19,985
  • Jan 30, 2009 9:30am Jan 30, 2009 9:30am
Hi guys

Starting to get square eyes after a week in front of PC! Time to call it a day/week on the trading front. Still about the breakeven mark on demo, one step forward two steps back! This is damn harder than a lot of people have you believe, but I knowI am in the right place to give me the best possible chance of success.

Good trading and good weekend to all, see you next week,

berti
PA is where its at!!
  • #19,986
  • Jan 30, 2009 9:46am Jan 30, 2009 9:46am
Quoting bertie123
Hi guys

Starting to get square eyes after a week in front of PC! Time to call it a day/week on the trading front. Still about the breakeven mark on demo, one step forward two steps back! This is damn harder than a lot of people have you believe, but I knowI am in the right place to give me the best possible chance of success.

Good trading and good weekend to all, see you next week,

berti
Berti,
As you may know, I'm still reading through this world of a thread. I just found a great signature (from Happy Camper post 5597ish) that should keep you inspired.
Keep studying, searching for only the best trades and learning from the best on here. That's what I'm doing anyway, and I've seen a world of difference in these first 3 weeks.

Anyway, here is the signature and have a tremendous weekend!

Josh

"Nothing in this world can take the place of persistence. Talent will not; nothing is more common than unsuccessful people with talent. Genius will not; unrewarded genius is almost a proverb. Education will not; the world is full of educated derelicts. Persistence and determination alone are omnipotent. The slogan "press on" has solved and always will solve the problems of the human race".(Calvin Coolidge)
  • #19,987
  • Jan 30, 2009 10:11am Jan 30, 2009 10:11am
Quoting bertie123
Hi guys

Starting to get square eyes after a week in front of PC! Time to call it a day/week on the trading front. Still about the breakeven mark on demo, one step forward two steps back! This is damn harder than a lot of people have you believe, but I knowI am in the right place to give me the best possible chance of success.

Good trading and good weekend to all, see you next week,

berti

Heh, I feel the same Bertie For me the hardest is to find the actual time to monitor the markets. When i get near them, i tend to see A setups wherever i click... Of course all losers

Moved to daily and weekly data only this year but still kind of hard to recognize good setups. After they move, it is all so obvious, but halfway throug.... Probably here counts the time spent glued in front of the monitor, isn't it?
  • #19,988
  • Jan 30, 2009 10:31am Jan 30, 2009 10:31am
That thing you posted is pretty nice. So far I found USD/NOK, setting up nicely I think. Ran into 50 and 61.2 fib lines, and setting up a possible pin. If anyone wants to check it out, let me know what you think. Need to figure out how to post charts.

edit: not great r/r i think
  • #19,989
  • Jan 30, 2009 10:50am Jan 30, 2009 10:50am
Jd/Hwick

Really appreciate your replies guys. We are all in this together and it is good to receive encouragement from one another. This business does indeed take a lot of persistence. One great example is a guy who used to be on this thread in previous years, from uk, who took something like 6 years to get to grips with trading. He trades using PA taught here and is now a very successful full time trader who reads the market like a book. He was on the brink of giving up many times but persisted and is now doing great. A great template for us newer guys to follow.

Good weekend to all.
PA is where its at!!
  • #19,990
  • Jan 30, 2009 11:46am Jan 30, 2009 11:46am
Just a quick thanks to Mike and James for posting the vids up in the guest area.Just got around to watching the new ones,good stuff! Everyone have a great weekend!
  • #19,991
  • Jan 30, 2009 1:09pm Jan 30, 2009 1:09pm
Watching EurGbp closely. It has touched those lows from early and mid Jan.
There is a Pin bar on the hourly but I'm not allowed to trade on the hourly anymore

I'll be keeping an eye on the 4 hour charts to see what PA develops. I have a feeling this is not going to bounce much and may just continue through this support.




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  • #19,992
  • Jan 30, 2009 2:16pm Jan 30, 2009 2:16pm
Quoting Piproo
yes, 1hr tf is the scalping to me.
Just a small aside; I was thinking the same thing.

In my opinion, for fx, the nicest TF to trade is daily, the strange thing is that the PA on the hourly for fx is like 1 minute PA on equity indices, with 5m being like the 4 hour on fx, 15m like the daily.

Anyone else feel the same way?

bonne chance ^^
  • #19,993
  • Jan 30, 2009 2:26pm Jan 30, 2009 2:26pm
dk you have a damn good chance of making it with this attitude.

Quoting dkmb92
i think at this point i no longer feel the "compulsion" to trade. after jim, mike, & everyone else have taught us the best way to trade & what defines a good trade, i have no problem watching & waiting for the a+ trade to come & happen. if i only see one in a week, then so be it. if none at all or i miss one, then i will wait for the next. i'd rather sit on the side & wait, then jump-in & risk losing money.
like jim just said, our goal should be to build up a sizable account so we can trade like how he just described. & if it slowly (& patiently)...
  • #19,994
  • Jan 30, 2009 2:32pm Jan 30, 2009 2:32pm
you probably havnt thought of it this way but your in the best possible situation.

your young and you have tons of time to save your money. while saving you get killer good at doing this. in a couple of years you will have everything you need.

your youth, a good account size and the knowledge to do something with it.

i just fely envy. that may sound crazy but its true. i would have given anything to be in your position when i was your age.

would i have done it right back then? probably not.

will you? i dont know. only you know that.

jim

Quoting stoli7188
Excellent post james. This is something that I have been struggling with, mainly because when I do go live with my full account it will only be about 5k (thats what I get working summers- still a student). What has been messing me up is I know i need x% to grow my account so my baby account can grow to a large one. And they way I used to view possible set ups were as a way to increase my account by x% so I can get that larger account quicker. Thus I would hate to let B trades go by and felt I needed to take every opportunity possible, if not create...
  • #19,995
  • Jan 30, 2009 2:41pm Jan 30, 2009 2:41pm


did you know that your kinda cult status around here rac?




Quoting raczekfx
trading in the zone...
.



60ema
  • #19,996
  • Jan 30, 2009 2:45pm Jan 30, 2009 2:45pm
Yeah, I thought the same thing when I read that post by a fellow student. Honestly man we have found this stuff now when we are young, no need to be lost in indicator hell for years . . We can get wicked good over time and be ready to do some serious damage in a few years
  • #19,997
  • Jan 30, 2009 2:45pm Jan 30, 2009 2:45pm
When finding confluences for daily chart trades I use the monthly, weekly, and daily time frames to find pivot zones, trend lines, s/r, and fib retraces.

If I would trade off the h1 or h4, do you guys recommend I still use the same time frames to find confluences, or should I focus more on the h1, h4, and daily and ignore the weekly and monthly? Thanks!
  • #19,998
  • Jan 30, 2009 2:48pm Jan 30, 2009 2:48pm
Quoting james16


did you know that your kinda cult status around here rac?
Cult status ?!?!?!

Raczekfx a a modern day Jesus like figure who is going to lead us all in the J16 thread to an era of moral, intellectual and spiritual splendour.

Raczekfx . . .
  • #19,999
  • Jan 30, 2009 2:57pm Jan 30, 2009 2:57pm
Quoting james16
you probably havnt thought of it this way but your in the best possible situation.

your young and you have tons of time to save your money. while saving you get killer good at doing this. in a couple of years you will have everything you need.

your youth, a good account size and the knowledge to do something with it.

i just fely envy. that may sound crazy but its true. i would have given anything to be in your position when i was your age.

would i have done it right back then? probably not.

will you? i dont know. only you know that....

I felt that envy too . . . ghous is like 18 years old . . . reading some of his posts he sounds like an old pro.

When I was 18, my concentration was Wine, Women and Song (partying). lol
Indicators show the past. Price Action "Indicates" the future.
  • #20,000
  • Jan 30, 2009 2:59pm Jan 30, 2009 2:59pm
Quoting jarroo
I felt that envy too . . . ghous is like 18 years old . . . reading some of his posts he sounds like an old pro.

When I was 18, my concentration was Wine, Women and Song (partying). lol
Teenager nowdays has changed LOL
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