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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

  • #441
  • Edited 3:27am Oct 16, 2005 3:25am | Edited 3:27am
Hi,

I've just started reading Jim's thread and am currently on page 6.. Can someone please tell me what are the criteria for an A, B, or C trades? If I really could, I'd be willing to search this forum for the answers since I really don't want to bother or annoy people with my questions. But due to my (good or bad?) attitude to want to find answers quickly, I'm posting my question.

So here goes.. I just heard about the "A" trades from Dial and just now, from Jim's chart thread.. Can someone please tell me what are the conditions that a certain trade must satisfy for it to be considered as an "A" trade?

I guess it's easier to understand if there's a set/list of conditions a certain trade should satisfy to categorize it as an A, B, or C trade.

Again, a newbie asking the help of others..

Athan
  • #442
  • Oct 20, 2005 10:26pm Oct 20, 2005 10:26pm
I just wanted to say "Thank you" again.
I have been reading this thread (as well as most of FF) over and over again.
It is starting to sink in!
I am able to understand a couple of the key concepts of this thread.
So much so, that the chart attached (Daily GBPUSD), behaved off the DBLHC (3pip differential) as expected. With retraction to the .50 of the swing and the .23 of the bar and the R2 of the day before.
I would have entered long if the retraction had been to the .50 of the second DBLHC bar.
Other than not having the courage to take a live trade, did I miss anything?
Did I miss everything? How far from reality am I?
Attached Image
  • #443
  • Oct 20, 2005 10:47pm Oct 20, 2005 10:47pm
Very well spotted RotcaX. Your stop would've been HUGE if you entered the trade using the daily chart. If you went down to the 4hr chart, you would've seen the (mini) pin bar formed at the time of that daily low. If you entered long on the open of the next bar (right eye), you would've had a 17 pip stop (better than 170 pips).

Good Luck
Habeeb
Keeping it Simple
  • #444
  • Oct 20, 2005 11:35pm Oct 20, 2005 11:35pm
Quoting RBing
Jim, I have a question for you about a pin nose. Does it matter if the eyes are sitting on the fib line and the nose penetrates it or are you looking for the nose to touch the fib line and then go back? I hope that makes sense. I'm looking forward to your new section. It's been a long wait and many times I thought about getting Todd Mitchell's course because of how good you said it is. I'm not sure how you feel about live training but if you ever decide to let me know. I live in Dallas as well and also own my business so I have a little more free time than the average person(I should say I have the ability to have free time).
sorry it took me so long to answer i have had the flu. have never really thought about it like you stated. not a bad question i will just need to look a little closer. the wait wont be much longer and i have some new news i will post soon. its a new addition to the pf. thanks for your post nieghbor. jim
  • #445
  • Oct 20, 2005 11:36pm Oct 20, 2005 11:36pm
Quoting khoong25
Hey Jim, gotta admit the longer the timeframe the more accurate the pin bar?

Entry at the close of the pin on the 12/10/05 on GBP daily.
Huge s/l though. It was a huge swing back down the next day though and super volatile yesterday, but never came close to the bottom tail of the pin bar.

If trading based on daily chart, what would be the target pips profit?
100? 200? Its 150 pips unrealised profit now.

I've just got my acc funded and am going live. Mini acc, and am going to do the daily - hourly charts ... less time consuming.
Ken.
yes they are more accurate. and yes the stops can be large on daily charts. just play a break of the pin and play your stop based on support and resistance levels.
  • #446
  • Oct 20, 2005 11:39pm Oct 20, 2005 11:39pm
Quoting eastmaels
Hi,

I've just started reading Jim's thread and am currently on page 6.. Can someone please tell me what are the criteria for an A, B, or C trades? If I really could, I'd be willing to search this forum for the answers since I really don't want to bother or annoy people with my questions. But due to my (good or bad?) attitude to want to find answers quickly, I'm posting my question.

So here goes.. I just heard about the "A" trades from Dial and just now, from Jim's chart thread.. Can someone please tell me what are the conditions that a certain trade must satisfy for it to be considered as an "A" trade?

I guess it's easier to understand if there's a set/list of conditions a certain trade should satisfy to categorize it as an A, B, or C trade.

Again, a newbie asking the help of others..

Athan
great question and one i have avoided on the main forum for good reasons. an a trade is simply an entry point that is rare due to where it is and the amount of confluence involved. thats the simple answer. jim
  • #447
  • Oct 20, 2005 11:40pm Oct 20, 2005 11:40pm
Quoting RotcaX
I just wanted to say "Thank you" again.
I have been reading this thread (as well as most of FF) over and over again.
It is starting to sink in!
I am able to understand a couple of the key concepts of this thread.
So much so, that the chart attached (Daily GBPUSD), behaved off the DBLHC (3pip differential) as expected. With retraction to the .50 of the swing and the .23 of the bar and the R2 of the day before.
I would have entered long if the retraction had been to the .50 of the second DBLHC bar.
Other than not having the courage to take a live trade, did I miss anything?
Did I miss everything? How far from reality am I?
see now this guy gets it. its not just about the price set up. its the price set up combined with where it is in relation to support and res levels. great post. jim
  • #448
  • Oct 20, 2005 11:42pm Oct 20, 2005 11:42pm
Quoting habeeb
Very well spotted RotcaX. Your stop would've been HUGE if you entered the trade using the daily chart. If you went down to the 4hr chart, you would've seen the (mini) pin bar formed at the time of that daily low. If you entered long on the open of the next bar (right eye), you would've had a 17 pip stop (better than 170 pips).

Good Luck
Habeeb
sometimes habeeb sees things more clearly than i do. a lot of you post and then i run off to look at my charts. good job habeeb. jim
  • #449
  • Oct 20, 2005 11:59pm Oct 20, 2005 11:59pm
as i have said many times i dont trade pin bars on one hour charts very often. every once in a while i see one on a big ma such as the 150. here is one i am in right now. jim
Attached Image
  • #450
  • Oct 21, 2005 8:52am Oct 21, 2005 8:52am
Jim, first I want to thank you for everything. Here is my question on chart formations. Using sts finance mt4, we have a nice pin bar on the gbpusd h4 but not on the interbank mt4 h4 chart. What would you do?
Tom
  • #451
  • Oct 21, 2005 3:15pm Oct 21, 2005 3:15pm
Quoting caminus
Jim, first I want to thank you for everything. Here is my question on chart formations. Using sts finance mt4, we have a nice pin bar on the gbpusd h4 but not on the interbank mt4 h4 chart. What would you do?
Tom
good question. i have looked at this time difference and all i can say is play it like it is on whatever platform you are using.
  • #452
  • Edited 8:37pm Oct 21, 2005 8:23pm | Edited 8:37pm
i have some exciting news regarding the private forum. everyone who hangs around this forum knows how well charles ( dialist) has done with his trading. the fact is he is trading a known system with some fine tuning to it on his part. early on i asked charles to join the pf and teach and follow this system and he declined at that time. well that has changed. i am happy to announce that charles will be teaching and following this system with his variations on the private forum. this will not push back the targeted launch date of 2 to 3 weeks. maybe sooner. i appreciate beyond words the patience shown by those who have waited so long. i think by adding these fine people and pricing it so cheap shows that it is not about money to me its about longevity and you bieng pleased with the content and value. here is general breakdown of the private forum.

1. welcome to the private forum - here we will discuss how to use the forum

2. james16 trading education - this forum will have many threads in it including a large one on beginning price action analysis. it will grow and include advanced analysis as time goes by.

3. james16 trading forum - this forum will follow price action analysis with updated charts. it will also follow a ma system i use with trailing entries

4. sundial systems - this will be charles forum to learn and follow his system

5. muddbuddha system trading - this will be where mudd follows his systems

6. fijitrader - money management forum - this forum will be to teach solid money management techniques and how to apply them.

7. fijitrader - trading psychology - i have said many times that fij is brilliant in this area. some people cant take tough love. will you be able to? we will see.


99 bucks a month folks. i made a promise and i have kept it. i am excited for you and me. it wont be long. jim
  • #453
  • Oct 21, 2005 8:45pm Oct 21, 2005 8:45pm
you guys know i dont hype stuff but i cant resist this time. dialist has banked over 1700 pips so far this month trading this system. jim
  • #454
  • Oct 22, 2005 2:00am Oct 22, 2005 2:00am
I have begun live trading, with a variant of your system ... the pin bars work great ....

did it on 1 day chart, 1 hour chart .. and made a few decent 15 min chart trades as well....

hopefully once the pf comes, i can add more arsenal to my toolset..
Trade what you see, not what you believe.....
  • #455
  • Oct 22, 2005 6:26am Oct 22, 2005 6:26am
Hi James

I've just recently come across Forex Factory and spent most of last night and this morning reading all the posts in your thread and I'm very impressed

Price action is an area I would love to understand more fully to add another dimension to my forex trading.

I've been studying and dabbling in forex for 2 years with mixed results but am now just about getting the mental side of trading under control and hope to move forward from this point.

Thank you for sharing your vast knowledge and experience - I await further posts with great interest.

Sam
Forget What You BelieveBelieve What You See
  • #456
  • Oct 22, 2005 9:13am Oct 22, 2005 9:13am
Hi Jim,

Because wanting something has more emotion and drive behind it than having something, I was wondering ... since I am a part time trader and most of the time only able to watch the screen during the Asian session...

1. Are there components to the system that will allow for a 'set and forget'
style of trading?

2. Can you comment about using the system exclusively during the Asian Session.

I am caught in a dilemma that I am sure many experience. Want to be able to trade for a living, but must currently earn a living in order to trade.

Thanks,

Lou

PS: I am impressed with how you are handling the PR of the system on this forum as the unveiling approaches.
  • #457
  • Oct 22, 2005 10:28am Oct 22, 2005 10:28am
Quoting khoong25
I have begun live trading, with a variant of your system ... the pin bars work great ....

did it on 1 day chart, 1 hour chart .. and made a few decent 15 min chart trades as well....

hopefully once the pf comes, i can add more arsenal to my toolset..
i was hoping people would take this approach. in fact in the pf i hope they will share thier discoveries and variations. thanks, jim
  • #458
  • Oct 22, 2005 10:29am Oct 22, 2005 10:29am
Quoting Forexhen
Hi James

I've just recently come across Forex Factory and spent most of last night and this morning reading all the posts in your thread and I'm very impressed

Price action is an area I would love to understand more fully to add another dimension to my forex trading.

I've been studying and dabbling in forex for 2 years with mixed results but am now just about getting the mental side of trading under control and hope to move forward from this point.

Thank you for sharing your vast knowledge and experience - I await further posts with great interest.

Sam
thanks sam
  • #459
  • Oct 22, 2005 10:35am Oct 22, 2005 10:35am
Quoting Lou
Hi Jim,

Because wanting something has more emotion and drive behind it than having something, I was wondering ... since I am a part time trader and most of the time only able to watch the screen during the Asian session...

1. Are there components to the system that will allow for a 'set and forget'
style of trading?

2. Can you comment about using the system exclusively during the Asian Session.

I am caught in a dilemma that I am sure many experience. Want to be able to trade for a living, but must currently earn a living in order to trade.

Thanks,

Lou

PS: I am impressed with how you are handling the PR of the system on this forum as the unveiling approaches.
thanks lou and yes i think much if not all of the material can be useful to people in your situation. most traders are not full time including me. jim
  • #460
  • Oct 22, 2005 12:02pm Oct 22, 2005 12:02pm
JIm, how will we know when and how to sign up for the PF? Thanks.
Don Life is expensive, but includes a free trip around the sun.
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