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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

  • #21,021
  • Feb 11, 2009 5:26am Feb 11, 2009 5:26am
Quoting squeezy
hey ghous and jaroo
im curious, hw many feeds do u watch and which ones...
i watch only alpari-us and want to watch atleast one more
I watch FxPro, IBFX, ODL, Accucharts, Alpari, FXDD.
I mainly watch just FXPro and IBFX. But I'll look at others when a setup looks good.
Indicators show the past. Price Action "Indicates" the future.
  • #21,022
  • Feb 11, 2009 5:32am Feb 11, 2009 5:32am
Quoting jarroo
I watch FxPro, IBFX, ODL, Accucharts, Alpari, FXDD.
I mainly watch just FXPro and IBFX. But I'll look at others when a setup looks good.
thnx
need to watch one or more feeds for better analysis
Simplicity is the key to success
  • #21,023
  • Feb 11, 2009 5:33am Feb 11, 2009 5:33am
Quoting ghous
Nice mate

I am waiting for 0.9 as my first tp the remainder enjoys the fresh esance of a free trade

Regards,
Ghous.
Moved my stop to B/E. I'm holding for 0.9080. Still not a 1:1, but maybe that's not as important as I once thought. For those that entered this, were you always thinking of taking 1/2 off at 0.90 and moving stop to B/E? Or did PA at that round number/PPZ dictate? Just trying to figure out how strict I should be on R:R...

Guess that's something I can only learn from experience. Might get stopped out of this at B/E...

Josh
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  • #21,024
  • Feb 11, 2009 6:33am Feb 11, 2009 6:33am
Quoting jarroo
Novice traders continually monitor, analyze and alter their trades to maximize their profits.

Professional traders continually monitor, analyze and alter their trades to reduce/minimize their risk and reduce losses.

It's all about avoiding loses, temo. Work on that and the profits will take care of themselves.

Jim
Jim, You posted this last April, post 10101. This makes great sense. All the great traders on this thread more often post that they took some profit and moved their stop to B/E - thus removing all risk. This helps answer my question of what the great traders are concerned about when they place a trade (R:R, or setting profit at PPZ, or moving stops, etc)

PS: Another example to read through the entire thread. I've continued to learn lots on each page I turn...

Thanks,

Josh
  • #21,025
  • Feb 11, 2009 6:38am Feb 11, 2009 6:38am
Originally Posted by temo http://www.forexfactory.com/images/buttons/viewpost.gif
The last question. When you move your stop to BE, very often the market will retest the zone where you entered, and then make a significant move in the direction you predicted earlier. how do you deal with that problem? or you just wait for another opportunity


Quoting jarroo
I don't look at it as a problem or a frustration (well, not any more). I look at it as a sucessful trade. If Price goes up 80 pips and then down to zero I'm out. Shame on me for not locking in some pips.

What I don't do is remove my stop loss to try at get those pips I just missed.

A break even trade should be viewed as successful as a profitable trade. (Repeat)

And yes, another opportunity will always be there. Patience is another exercise that a trader needs to practise. (well, for me anyways.)

Jim
Good stuff Jim, worth reposting.
  • #21,026
  • Feb 11, 2009 6:46am Feb 11, 2009 6:46am
Here is something forming ....audjpy....

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  • #21,027
  • Feb 11, 2009 6:52am Feb 11, 2009 6:52am
Quoting Jduester
Jim, You posted this last April, post 10101. This makes great sense. All the great traders on this thread more often post that they took some profit and moved their stop to B/E - thus removing all risk. This helps answer my question of what the great traders are concerned about when they place a trade (R:R, or setting profit at PPZ, or moving stops, etc)

PS: Another example to read through the entire thread. I've continued to learn lots on each page I turn...

Thanks,

Josh
That's a good one. I wish I wrote it. Don't know where I read it but it sticks with me all the time.

Most (if not all) Price Action "A" trades will break their trigger and run for a good amount of pips on the next bar. If they don't and start to retreat, it's not a bad idea to get out for a small loss. Sure it may go back in your favor but maybe it won't. Check some of the "A" trades on this thread didn't they have any drawdown? Probably not much if any.


Good confirmation of a good PA setup is one that breaks and never looks back.
Indicators show the past. Price Action "Indicates" the future.
  • #21,028
  • Feb 11, 2009 7:05am Feb 11, 2009 7:05am
Alright I have placed my buystop...

I have a large stop to fit what I am trying to do...

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  • #21,029
  • Feb 11, 2009 7:17am Feb 11, 2009 7:17am
hey jarroo,
jst dloaded fxdd & ibfx platforms and noticed dat fxdd has the earliest feed time....
i.e. closing of h4 chart or any chart
which makes an early entry real cool, thnx
im currently watching the gbpusd h4 beob on fxdd which isnt visible on the others but seeing inside bars/ tml for a possible trend continuation
cheers
Simplicity is the key to success
  • #21,030
  • Feb 11, 2009 7:18am Feb 11, 2009 7:18am
Quoting Shermenator
Alright I have placed my buystop...

I have a large stop to fit what I am trying to do...
Is this a raczek type trade? It looks good. Keep your stop loss small.

Wonder how raczek would rate this.
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Indicators show the past. Price Action "Indicates" the future.
  • #21,031
  • Feb 11, 2009 7:25am Feb 11, 2009 7:25am
Quoting ghous
Ofcaorse they do...

It's all because different brokers have different bar closing times and the price tends to get "chopped" up differently...
you must look at broker open and close times as well, if a broker opens 1 hr late from retail market open every week you are "missing" 4.3 hrs a month from a chart per pair, then that same broker closes 1 hr early you miss another 4.3 hrs per pair on charts............then you have the ones that open and close 2 hrs different from market times and do the math.........FxPro is open retail market hours so you have a complete chart no missing bars, candles whatever you use

BTW gentlemen and ladies, this is an awesome thread, I do not trade this method but do check in often, some of you have come a looooong ways and if nice to see people helping people and not thinking they are better than others......there is only one other thread in FF as pure and open as this one and as helpful IMHO
Don't chase the market, Let the market come to you
  • #21,032
  • Feb 11, 2009 7:25am Feb 11, 2009 7:25am
Quoting jarroo
Is this a raczek type trade? It looks good. Keep your stop loss small.

Wonder how raczek would rate this.
Not exactly sure what his entry style is my friend I just know his good lol...and umm I am just basing it on the story my chart shows me and thats tht we have 12 hour of price trying to make lower lows and buyers take over and push up....so I based it more of what price is doing then the actually candle ....

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  • #21,033
  • Feb 11, 2009 7:26am Feb 11, 2009 7:26am
Quoting squeezy
hey jarroo,
jst dloaded fxdd & ibfx platforms and noticed dat fxdd has the earliest feed time....
i.e. closing of h4 chart or any chart
which makes an early entry real cool, thnx
im currently watching the gbpusd h4 beob on fxdd which isnt visible on the others but seeing inside bars/ tml for a possible trend continuation
cheers
Looks good squeezy. Check you Daily PPZ. Nice round number. 1.4400.
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Indicators show the past. Price Action "Indicates" the future.
  • #21,034
  • Feb 11, 2009 7:29am Feb 11, 2009 7:29am
Quoting squeezy
hey jarroo,
jst dloaded fxdd & ibfx platforms and noticed dat fxdd has the earliest feed time....
i.e. closing of h4 chart or any chart
which makes an early entry real cool, thnx
im currently watching the gbpusd h4 beob on fxdd which isnt visible on the others but seeing inside bars/ tml for a possible trend continuation
cheers
Notice that the PPZ levels and of course the Round Numbers are the same on all feeds. lol
Indicators show the past. Price Action "Indicates" the future.
  • #21,035
  • Feb 11, 2009 7:33am Feb 11, 2009 7:33am
Hey arcus. How did you do on the Daily BUOB on the Eur/Gbp?
Indicators show the past. Price Action "Indicates" the future.
  • #21,036
  • Feb 11, 2009 7:35am Feb 11, 2009 7:35am
Quoting Shermenator
Not exactly sure what his entry style is my friend I just know his good lol...and umm I am just basing it on the story my chart shows me and thats tht we have 12 hour of price trying to make lower lows and buyers take over and push up....so I based it more of what price is doing then the actually candle ....
I see. Good luck friend.
Indicators show the past. Price Action "Indicates" the future.
  • #21,037
  • Feb 11, 2009 7:48am Feb 11, 2009 7:48am
Up 35 pips will move stop to break even now and will secure some profits once resistance gets hit...

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  • #21,038
  • Feb 11, 2009 7:49am Feb 11, 2009 7:49am
Quoting squeezy
hey ghous and jaroo
im curious, hw many feeds do u watch and which ones...
i watch only alpari-us and want to watch atleast one more
I watch Ibfx, Fxpro and Fxopen, and will genereally take a setup on any of these 3 feeds to trade on my live account which is at Fxopen...specially the daily setups...

Regards,
Ghous.
I believe . . .
  • #21,039
  • Feb 11, 2009 8:00am Feb 11, 2009 8:00am
Quoting sonicdeejay
EU H4....PB in a making....30 min to go b4 candle complete...



Sonic
Got to be aware of the Daily/Weekly PPZs when looking for Price Action on the 4 hour/Hourly. Looks like you were aware.
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Indicators show the past. Price Action "Indicates" the future.
  • #21,040
  • Feb 11, 2009 8:19am Feb 11, 2009 8:19am
Quoting jarroo
Looks good squeezy. Check you Daily PPZ. Nice round number. 1.4400.
Jarro, my ppz is higher than urs.

can u please explain anything wrong with my ppz and why u using that low for g/u daily's ppz?

thanks again
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