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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

  • #24,561
  • Mar 23, 2009 8:06pm Mar 23, 2009 8:06pm
@Jim

You should move to Indonesia and be a citizen here, I don't think they apply taxes on trading earnings, lol. at least none that I know of

To everyone here.

I saw this odd looking BEOB on EURUSD. it's on a good location but I really think there's something off about it... personally I'd like the close to be lower than the previous bar.

what do you think? I think if it does breaks lower, it'll move at least 80 pips before I'll think about taking any profits

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  • #24,562
  • Mar 23, 2009 8:09pm Mar 23, 2009 8:09pm
Quoting marcelnyo
@Jim

You should move to Indonesia and be a citizen here, I don't think they apply taxes on trading earnings, lol. at least none that I know of

To everyone here.

I saw this odd looking BEOB on EURUSD. it's on a good location but I really think there's something off about it... personally I'd like the close to be lower than the previous bar.

what do you think? I think if it does breaks lower, it'll move at least 80 pips before I'll think about taking any profits

Attachment
I'd treat it as a neutral bar, and so, no trade.

Josh
  • #24,563
  • Mar 23, 2009 8:10pm Mar 23, 2009 8:10pm
Quoting mbqb11
my inspiration and the man for my thank yous
although I haven't known mike for a long time, I'll add a Thank You note for you, you're the best beginner instructor a beginner here could ever have, and on top of that, a really nice guy too.

Cheers.

Marcel
  • #24,564
  • Mar 23, 2009 8:14pm Mar 23, 2009 8:14pm
I won't be thanking any bars until they start paying me, BUT I will thank James16, Clockwork, BillyRayValentine and Jacko for showing me the way to profitable trading.

We all should be writing 6 figure checks to them - not the undeserving IRS...but I won't get into a rant.
  • #24,565
  • Mar 23, 2009 8:21pm Mar 23, 2009 8:21pm
Mr. Bgin2end, your prayers have been solicited. God bless.
  • #24,566
  • Mar 23, 2009 8:23pm Mar 23, 2009 8:23pm
Quote
I saw this odd looking BEOB on EURUSD. it's on a good location but I really think there's something off about it... personally I'd like the close to be lower than the previous bar.
Marcelnyo -

In addition to the close not being lower than previous bar, it looks like you might be trapped somewhat between the resistance and support being offered by the 150 day MA.
Attached Image (click to enlarge)
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  • #24,567
  • Mar 23, 2009 8:31pm Mar 23, 2009 8:31pm
Quoting hans356
Mr. Bgin2end, your prayers have been solicited. God bless.
thank you sir...
  • #24,568
  • Mar 23, 2009 8:44pm Mar 23, 2009 8:44pm
Hey all, I've been a long time lurker with the occasional post on this thread. I know that some people like to enter with 2 positions and take partial profits then let the second run at BE and are similar to James in that you day trade the daily bars, while others like to enter with one position and let it run with the trend (like Mike). I was just curious if anyone uses both methods depending on the setup?

I know the exit method largely comes down to personality and for the past 6 months or so I have been flip flopping between the two trying to rationalize the change in strategy.

I guess I just need to keep up the demo and get back to my testing laboratory to figure this out on my own, but if anyone would like to shed some light on the matter (ie. why you exit the way you do), please do.

Thanks,
Chris
  • #24,569
  • Mar 23, 2009 9:06pm Mar 23, 2009 9:06pm
  •  krue
  • | Joined Mar 2008 | Status: finger scares cat, power of illusio | 410 Posts
both of you are my hero. with my all due respect, here is my salute to your achievement.

Quoting mbqb11
my inspiration and the man for my thank yous
  • #24,570
  • Mar 23, 2009 9:13pm Mar 23, 2009 9:13pm
Honestly folks there is not One single Person on this site that Has actually Placed A Trade that doesn't know how bad it feeels to see it go against you.

Your next job is to get a little up the ladder. That's all.
{getting better by an infanite amount will do} just keep it going & keep it Slow.

Slingers: First one is Free. But then we're thinkin' of let in' Billy do what he does.


Step Aside. The Mill is in proximity.
  • #24,571
  • Mar 23, 2009 10:03pm Mar 23, 2009 10:03pm
amen.

i was just trying to pay my speeding tickets and stay out of jail when i was mikes age.

jim

Quoting marcelnyo
although I haven't known mike for a long time, I'll add a Thank You note for you, you're the best beginner instructor a beginner here could ever have, and on top of that, a really nice guy too.

Cheers.

Marcel
  • #24,572
  • Mar 23, 2009 10:05pm Mar 23, 2009 10:05pm
superb.


Quoting Bemac
Honestly folks there is not One single Person on this site that Has actually Placed A Trade that doesn't know how bad it feeels to see it go against you.

Your next job is to get a little up the ladder. That's all.
{getting better by an infanite amount will do} just keep it going & keep it Slow.

Slingers: First one is Free. But then we're thinkin' of let in' Billy do what he does.


Step Aside. The Mill is in proximity.
  • #24,573
  • Mar 23, 2009 10:23pm Mar 23, 2009 10:23pm
Quoting juribe2
Thanks,
I got the files unziped but can't open them using my Acrobat Reader 8. Maybe I need to upgrade the reader...

Juan,
alternatively, u can try Foxit Reader instead. it's free & consumes considerably less computer resources than Acrobat Reader.

download it via http://www.download.com or http://www.foxitsoftware.com
  • #24,574
  • Mar 23, 2009 10:26pm Mar 23, 2009 10:26pm
Quoting james16
amen.

i was just trying to pay my speeding tickets and stay out of jail when i was mikes age.

jim

I'm ECSTATIC!! I "caught" Sir Jim live right here!
I had to slightly postpone my other posts for this post...

Haven't taken a rest yet, Sir?
me, just 4hrs of sleep. it's almost lunch time here in the Philippines..
Good to see u "live" Sir!!
  • #24,575
  • Mar 23, 2009 10:28pm Mar 23, 2009 10:28pm
Quote
i was just trying to pay my speeding tickets and stay out of jail when i was mikes age.

Does that mean u are in your 50's now, while mike is in his 30's?
  • #24,576
  • Mar 23, 2009 10:29pm Mar 23, 2009 10:29pm
Quoting Bemac
......
Go Jim...
ps. 6 for me too {NOT}
LOL




Quoting james16
this may sound crazy but i almost feel a sense of graitude to these bars and how they have changed my life over the years. it took the price flips to make them really work for me and i feel the same way about them.
it is very common for me to say out loud to my computer screen.
THANK YOU!!!
they rarely fail me if i "treat" them right.
i love it when i see that same graititude toward them from some of you.
they are "market condition" proof and that is why they work such a high percentage of the time if treated correctly.
the holy grail in this business is a method that is "market condition" blind.
is this it? if so are there more?
i dont know but i do know that i dont have a regular job and i can pretty much do what i want when i want.
that was always my goal.
im about to write a check for 6 figures to the IRS tomorrow.
do i think its too much?
yes.
is it better than punching a clock, dreading monday and hoping for a thousand dollar refund every year from the IRS?
hell yes.
This post in itself is an inspiration for me... The person who posted it is even more than an INSPIRATION for me & i think for many others. Thank you Sir Jim!!
  • #24,577
  • Mar 23, 2009 10:30pm Mar 23, 2009 10:30pm
geez you guys have way to high an opinion of me.

im so old i try to catch 4 hours around lunch time everyday.



Quoting supremeChaos
I'm ECSTATIC!! I "caught" Sir Jim live right here!
I had to slightly postpone my other posts for this post...

Haven't taken a rest yet, Sir?
me, just 4hrs of sleep. it's almost lunch time here in the Philippines..
Good to see u "live" Sir!!
  • #24,578
  • Mar 23, 2009 10:40pm Mar 23, 2009 10:40pm
Does anyone know where I can get future charts for MT4 platform? Have been using fxpro future charts, but they seem to have stopped working, and it doesn't appear to be anything I did for a change Ty in advance
  • #24,579
  • Mar 23, 2009 10:41pm Mar 23, 2009 10:41pm
Quoting james16
geez you guys have way to high an opinion of me.

im so old i try to catch 4 hours around lunch time everyday.

i think that is an unfair opinion.

I think i haven't scratched the surface of your graciousness/willingness to help, here & in the PF. but knowing u have helped &transformed even a small number of people's lives is worth enough for me to give credit to whom it is due. I'm dang sure there are only a few people like u on this earth, so i will not definitely skimp on giving my praises. Like some others, i rarely get impressed& inspired by someone else, so i will not hesitate to tell it to your face.

You are old, yet so mentally nimble & audaciously gracious & helpful, that's for sure.
Again, thanks a million...
  • #24,580
  • Mar 23, 2009 10:41pm Mar 23, 2009 10:41pm
Quoting jarroo
Ghous and I were looking at the 2 day PB on the Usd/Jpy. Nice hard break, caught 42 pips/ breakeven on that one. It will now probably go to the moon. lol
Its going for those Highs. I knew it. (darn it.)
Attached Image
Indicators show the past. Price Action "Indicates" the future.
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