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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

  • #25,241
  • Mar 29, 2009 10:12pm Mar 29, 2009 10:12pm
Quoting jarroo
The thing I'm doing more is respecting an A+ trade when they ocurr and not moving so quickly to break even on the 2nd half. The key being, its on the 2nd half.
I pay myself as the market makes money available to me
  • #25,242
  • Mar 29, 2009 10:22pm Mar 29, 2009 10:22pm
Quoting mbqb11
... The point is the material can really be made to work in many different ways. Finding your comfort zone is a big deal and then having confidence to trade it day in and day out just comes with time as bundy said

Best
Mike
Gotcha thanks. This is the one area I will always struggle with...records. So much to be tracked if one wants to be as efficient as possible. Don't know how you do it all.
  • #25,243
  • Mar 29, 2009 10:22pm Mar 29, 2009 10:22pm
I keep reading "break of the pb" and I'm not sure I completely understand what this means. Is it when the 3rd bar simple breaks the close of the pb, or is it when the 3rd bar breaks and closes above/below the close of the pb?

Thanks!
  • #25,244
  • Mar 29, 2009 10:25pm Mar 29, 2009 10:25pm
Quoting frankm7
I keep reading "break of the pb" and I'm not sure I completely understand what this means. Is it when the 3rd bar simple breaks the close of the pb, or is it when the 3rd bar breaks and closes above/below the close of the pb?

Thanks!
When it breaks the Low of the PB. In this case the 129.38
Attached Image
Indicators show the past. Price Action "Indicates" the future.
  • #25,245
  • Mar 29, 2009 10:25pm Mar 29, 2009 10:25pm
Quoting joebryce
I guess what I am seeing is that it would be much easier, less stressful and less time consuming to trade Jim's way where he seems to take profits quicker than I. If my risk was larger it would be worth exiting a first resistance. With my small trade I just have a hard time taking small profits so I end up with a lot of BE and a few big winners.
Sorry Joe. I actually didn't read your post very well. lol

I've mentioned this before, but I take a different strategy based on what I see as the likely hood of various targets being reached. A really really good "Cherry Mike" trade ( ) I will hold the WHOLE position through draw down with confidence. But the majority of trades I trade the Jim-Jim(Jaroo) way.
(heh heh ...Jim-Jim(Jaroo) )

....Jim- Jimmeny - Jim - Jimmeny - Jim - Jim - Jaroooooo, A Chiminey sweeps the life... and that's what I dooooo...

...Side tracked. lol

Ennny way... A lot of trades it's First half profit quickly etc. ......So much easier to take any trade without stress that way, since most trades have expected trouble areas, even when you have a good idea of the ultimate target.
.
Bundy's status today: "Waiting..."
  • #25,246
  • Mar 29, 2009 10:28pm Mar 29, 2009 10:28pm
Quoting bundyraider
Sorry Joe. I actually didn't read your post very well. lol

I've mentioned this before, but I take a different strategy based on what I see as the likely hood of various targets being reached. A really really good "Cherry Mike" trade ( ) I will hold the WHOLE position through draw down with confidence. But the majority of trades I trade the Jim-Jim(Jaroo) way.
(heh heh ...Jim-Jim(Jaroo) )

....Jim- Jimmeny - Jim - Jimmeny - Jim - Jim - Jaroooooo, A Chiminey sweeps the life... and that's what I dooooo...

...Side tracked. lol

Ennny way......

Good grief. lol have another pint on me bundy.
Indicators show the past. Price Action "Indicates" the future.
  • #25,247
  • Mar 29, 2009 10:29pm Mar 29, 2009 10:29pm
Quoting jarroo
Good grief. lol have another pint on me bundy.
lol too funny man
  • #25,248
  • Mar 29, 2009 10:32pm Mar 29, 2009 10:32pm
Ohh I see, and this is regardless of whether the session has closed or not? If it breaks during the session, the pb is "valid" and can be traded?
  • #25,249
  • Mar 29, 2009 10:36pm Mar 29, 2009 10:36pm


that's the first time I think I've laughed today...thanks.

Also for your answer, I can be Mike, Jim and Jarroo all together
  • #25,250
  • Mar 29, 2009 10:38pm Mar 29, 2009 10:38pm
oh and I plan to work Rac in there as well
  • #25,251
  • Edited 10:54pm Mar 29, 2009 10:39pm | Edited 10:54pm
Quoting frankm7
Ohh I see, and this is regardless of whether the session has closed or not? If it breaks during the session, the pb is "valid" and can be traded?
If you mean the Asia, London, New York session then, yes. I solid PA setup knows no time in my book.
Indicators show the past. Price Action "Indicates" the future.
  • #25,252
  • Mar 29, 2009 10:42pm Mar 29, 2009 10:42pm
Thanks jarroo!
  • #25,253
  • Mar 29, 2009 10:42pm Mar 29, 2009 10:42pm
you guys are in rare form . . .
"Don't trade to trade . . . trade to win." - James16
  • #25,254
  • Mar 29, 2009 11:02pm Mar 29, 2009 11:02pm
Quoting joebryce
oh and I plan to work Rac in there as well
I would be careful with rac's method, he's very aggressive and I believe has a genetic instability (some of that big bad voodoo mojo thing), gotta have something in your blood to trade like him lol.
  • #25,255
  • Mar 29, 2009 11:18pm Mar 29, 2009 11:18pm
Quoting marcelnyo
I would be careful with rac's method, he's very aggressive and I believe has a genetic instability (some of that big bad voodoo mojo thing), gotta have something in your blood to trade like him lol.
That's right very aggressive and contrary to DJ, very, very unstable... keep out....stay away, don't follow.... don't ask....LOL
..
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  • #25,256
  • Mar 29, 2009 11:23pm Mar 29, 2009 11:23pm
Quoting raczekfx
That's right very aggressive and contrary to DJ, very, very unstable... keep out....stay away, don't follow.... don't ask....LOL
..
I have been quietly watching you for some time. I bet you got some of that ej short earlier tonight

You should see what's in my genes. lol
  • #25,257
  • Mar 29, 2009 11:23pm Mar 29, 2009 11:23pm
pretty easy stuff . . . right guys
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Indicators show the past. Price Action "Indicates" the future.
  • #25,258
  • Mar 29, 2009 11:24pm Mar 29, 2009 11:24pm
I'm waiting for another "Thats how we roll" posts from jarroo re EUR/JPY

First spot 128.50/60.

Sorry can't post chart.
  • #25,259
  • Mar 29, 2009 11:25pm Mar 29, 2009 11:25pm
Quoting jarroo
pretty easy stuff . . . right guys


I almost beat you to it!!!
  • #25,260
  • Mar 29, 2009 11:26pm Mar 29, 2009 11:26pm
Quoting Blackinc
I'm waiting for another "Thats how we roll" posts from jarroo re EUR/JPY

First spot 128.50/60.

Sorry can't post chart.

I like hearing it from others . . but your right . . .that's how we roll
Indicators show the past. Price Action "Indicates" the future.
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