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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

  • #21,701
  • Feb 17, 2009 7:05pm Feb 17, 2009 7:05pm
if one waits for the daily A, then you set yourself up for a good entry. then once price moves 50+ (or however much) pips in your direction you can bank half of your position & move your sl for the 2nd half to breakeven. & if price keeps going your way, then you can manage the sl of the 2nd half that is still in play. just another j16 gift from the founding father of this thread.
on my demo i am still in the gbp/jpy daily pin from last thur. fxprocessor pointed out a couple days ago that the pin was still valid. i have my sl on my 2nd position set now that no matter what happens i will make 100 pips total. & if it continues to go up, like raczekfx mentioned earlier today it might, i will manage my sl accordingly.
all the credit for this goes to what i have learned from each & everyone here. thanku all for the contributions you have made.
  • #21,702
  • Feb 17, 2009 7:18pm Feb 17, 2009 7:18pm
This is my first post..I felt compeled to reply to your simple honest truth..this is also my hope. I have been working full time and trading as I can for 4 years. I am still hoping to do this full time..I love it..but still have to get the dance steps down...I appreciate all of the information passed thru these threads. Thanks to all of you.
  • #21,703
  • Feb 17, 2009 7:19pm Feb 17, 2009 7:19pm
Quoting jarroo
And that's watching how many pairs Mike? 10? 20? . .
I watch 20+ forex pairs gold/silver


M
  • #21,704
  • Feb 17, 2009 7:20pm Feb 17, 2009 7:20pm
Quoting ghous
here are some of my entries that i wanted to share with you...

Bought Gu and Gj with refernce to the Gbp index and as oil hit support,

Bought Ej and Uj as GJ hit support late last week.

bought Eu as it hits long term support along with the Eur index.

Corrleations are'nt really working as hard as they should lately...

Regards,
Ghous.
Ghous, I have S/R on Eur/USD at 1.245 area.... It dates back a long ways....
Dr. C
  • #21,705
  • Feb 17, 2009 7:31pm Feb 17, 2009 7:31pm
Quoting StarChild
This is my first post..I felt compeled to reply to your simple honest truth..this is also my hope. I have been working full time and trading as I can for 4 years. I am still hoping to do this full time..I love it..but still have to get the dance steps down...I appreciate all of the information passed thru these threads. Thanks to all of you.
Welcome aboard mate....you have come to the right place
  • #21,706
  • Feb 17, 2009 7:47pm Feb 17, 2009 7:47pm
Thankyou for making me feel welcome..I have much to learn from all of you!
  • #21,707
  • Edited 9:08pm Feb 17, 2009 8:51pm | Edited 9:08pm
Quoting ghous
here are some of my entries that i wanted to share with you...

.
Ghous, why don't you wait for confirmation if you are trading on 4hr tf before taking those trades you've got into? Isn't it bit more risky going longs at the trendline levels without PA confirmation? I don't understand why you took those trades without either pin bar, bovb or such? I'm new to the thread so I wanna know more about how it works. Thanks
  • #21,708
  • Feb 17, 2009 9:22pm Feb 17, 2009 9:22pm
Quoting ghous
here are some of my entries that i wanted to share with you...

Bought Gu and Gj with refernce to the Gbp index and as oil hit support,

Bought Ej and Uj as GJ hit support late last week.

bought Eu as it hits long term support along with the Eur index.

Corrleations are'nt really working as hard as they should lately...

Regards,
Ghous.
Hi, Ghous, thx for the charts.

So basically, u using higher TF's PPZ for potential trading area. and u use lower TF PA for entry? if yes, can u please show us ur e/u daily lower TF PA signal?

Many thx again
  • #21,709
  • Feb 17, 2009 11:07pm Feb 17, 2009 11:07pm
Is he strong enough? If he falls.....
.
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  • #21,710
  • Feb 17, 2009 11:18pm Feb 17, 2009 11:18pm
Quoting Jduester
I haven't seen an "A" trade on the Dailys for 3 days now... I'm one (or more) of the following:

1)Too Picky
2)Learning to be Patient
3)Not looking hard enough

(Didn't want any of the inside bars yesterday because of the US holiday).

Night everyone

Josh
Josh,
I've been asking myself the EXACT same questions.
I've made one trade so far this month (+282pips!!) and I'm constantly having to remind myself that:

1. I can never be too picky
2. I can never be too patient
3. I don't need to look all that hard to spot the A+ trades.

I was staring at a setup for half the day yesterday trying to decide whether or not not take it. I came to the conculsion INDECISION IS A GOOD THING! If in doubt, stay out!. I'm reminded of a Peter Crowns quote (I think its one of his although I can't find where he said it. Someone please correct me if I'm wrong).

" I don't want to take a trade unless it would be stupid of me not too"

Steve.....waiting......
"The more I practice, the luckier I get." (Gary Player)
  • #21,711
  • Feb 17, 2009 11:26pm Feb 17, 2009 11:26pm
I have not been picky enough, i have blown all my profits this month chasing trades , on my live account. back to demo land.
  • #21,712
  • Feb 17, 2009 11:36pm Feb 17, 2009 11:36pm
Quoting raczekfx
Is he strong enough? If he falls.....
.

hahah mark you cracked me up with that
  • #21,713
  • Feb 18, 2009 12:31am Feb 18, 2009 12:31am
Quoting mbqb11
hahah mark you cracked me up with that
What is your guy's approach to a situation like with Eur/usd?It is at a real pivotal moment right now. What would serve as confirmation for you guys on which way she blows?
Dr. C
  • #21,714
  • Feb 18, 2009 12:39am Feb 18, 2009 12:39am
anyone long usd jpy?
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  • #21,715
  • Feb 18, 2009 12:45am Feb 18, 2009 12:45am
Quoting [LEFT
NoBread[/left];2546573]I have not been picky enough, i have blown all my profits this month chasing trades , on my live account. back to demo land.
Not far behind ya. Whenever I try and get fancy I hurt myself, then I look at the damage and say, OK, no more messing around and wait for a J16 setup. I wait for the A+

pinbar and booyaa, back in the black again. Now the trick is to wait for the next A+, and then the next, so on and so on. If I can shake off this need to trade every second and learn some patience I'll be a much better trader.


The method is simple, but trading is hard. Hang in there and read up all you can on psychology of trading. For example, do you deserve to have money? If you don't feel like you do then you'll find ways to blow your account. Stuff like that...
Don't wish it were easier, wish you were better. ~ Jim Rohn
  • #21,716
  • Feb 18, 2009 12:52am Feb 18, 2009 12:52am
Quoting LasVahGoose
Not far behind ya....

I hear that. It is always the psychology that gets me... I trade well for a few, then get impulse and blow my entire wad on horrible 5 min setups... lol... not anymore, the wife said stop
Dr. C
  • #21,717
  • Feb 18, 2009 12:57am Feb 18, 2009 12:57am
I just came here from PeterFM's thread. My god, 1448 pages for this thread, how long it is going to take to finish reading this ? Ithink it got to have some good stuff here. Can any body give me a summary for james16's trading system or point me to some posts related to james16's system? Thanks.
  • #21,718
  • Feb 18, 2009 1:02am Feb 18, 2009 1:02am
Quoting jumpingup
I just came here from PeterFM's thread. My god, 1448 pages for this thread, how long it is going to take to finish reading this ? Ithink it got to have some good stuff here. Can any body give me a summary for james16's trading system or point me to some posts related to james16's system? Thanks.
Go though slowly, like what im doing , 20 page a day, taking notes, trading from h4 and above mostly. in 3 mths ur will finish all the post
  • #21,719
  • Feb 18, 2009 1:11am Feb 18, 2009 1:11am
Quoting Piproo
Go though slowly, like what im doing , 20 page a day, taking notes, trading from h4 and above mostly. in 3 mths ur will finish all the post
There's no easy way. lol ...but if you read the first 50 pages you'll find most of the staples covered.

It's really worth just nibbling at the whole thread over time though. You won't regret it!
Bundy's status today: "Waiting..."
  • #21,720
  • Feb 18, 2009 1:19am Feb 18, 2009 1:19am
My Problem is i shot gun trades, like i am looking at the geepy and going i should short that.
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