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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

  • #26,321
  • Apr 6, 2009 6:59pm Apr 6, 2009 6:59pm
I took an earlier trade off a 8 hour pin.That chart is on my laptop,(different broker).Seems to be at a pretty strong ppz.Anyone else take this?
  • #26,322
  • Apr 6, 2009 7:02pm Apr 6, 2009 7:02pm
Forgot charts here they are
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  • #26,323
  • Apr 6, 2009 7:10pm Apr 6, 2009 7:10pm
Quoting mbqb11
you definitely made me chuckle with that edit

Mike
Mike, does it fail the be a PB because of its really tiny nose?
  • #26,324
  • Apr 6, 2009 7:12pm Apr 6, 2009 7:12pm
Quoting jlmac27
Forgot charts here they are
I took this one too.
  • #26,325
  • Apr 6, 2009 7:12pm Apr 6, 2009 7:12pm
Quoting frankm7
Mike, does it fail the be a PB because of its really tiny nose?
Hey Frank

What stoli was getting at was the fact that both the open and close were not within the prior bar. The close was higher which means it is not technically a pinbar. I agree location is nice for some move down, but I won't trade it if a bar doesn't fit the criteria, personally

Best
Mike
  • #26,326
  • Apr 6, 2009 7:19pm Apr 6, 2009 7:19pm
I took this one too...After the fact I realized that I missed a key piece of analysis....I am selling into the 100 support in an uptrend...Might not have been the best idea. Very small lots though, just enough to make me pay attention...

DS
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  • #26,327
  • Apr 6, 2009 7:19pm Apr 6, 2009 7:19pm
Quoting frankm7
Mike, does it fail the be a PB because of its really tiny nose?
Because we would have preferred the close to be within the previous bars range.

Edit: Mike beat me. Teach me for not finishing the post off before taking my phone call. lol
Bundy's status today: "Waiting..."
  • #26,328
  • Apr 6, 2009 7:24pm Apr 6, 2009 7:24pm
Quoting deepsouth
I took this one too...After the fact I realized that I missed a key piece of analysis....I am selling into the 100 support in an uptrend...Might not have been the best idea. Very small lots though, just enough to make me pay attention...

DS
Yes, i saw the same thing and was thinking about putting my pending order at 99.90. The next weekly ppz i had after that was at the 95.00 mark.
  • #26,329
  • Apr 6, 2009 7:25pm Apr 6, 2009 7:25pm
Quoting mbqb11
you definitely made me chuckle with that edit

Mike
The eyes of Mike are always watching. Which is not a bad thing.

("Would Mike take this setup. . .No" . . . "Mike would like this setup . . . hmm . . . maybe not the Daily PPZ is way over there . ." ) and so on. lol
Indicators show the past. Price Action "Indicates" the future.
  • #26,330
  • Apr 6, 2009 7:31pm Apr 6, 2009 7:31pm
Quoting jarroo
The eyes of Mike are always watching. Which is not a bad thing.

("Would Mike take this setup. . .No" . . . "Mike would like this setup . . . hmm . . . maybe not the Daily PPZ is way over there . ." ) and so on. lol
that sounds wrong and creepy on so many levels
  • #26,331
  • Apr 6, 2009 7:33pm Apr 6, 2009 7:33pm
Quoting mbqb11
that sounds wrong and creepy on so many levels
Do you know how many people would like to sit next to you while your trading and thinking out loud. Not so creepy. My hand is raised.
Indicators show the past. Price Action "Indicates" the future.
  • #26,332
  • Apr 6, 2009 7:35pm Apr 6, 2009 7:35pm
Quoting mbqb11
that sounds wrong and creepy on so many levels
Like a poster with two big eyes and the words "THE EYES OF MIKE ARE UPON YOU"

Be afraid children. He hunts the reckless and feeds on the overtraders.

  • #26,333
  • Apr 6, 2009 7:37pm Apr 6, 2009 7:37pm
Quoting mbqb11
that sounds wrong and creepy on so many levels
I just use my "would I post this trade on the James16 thread" indicator. It really is a great way to profits.

K.I.S.S.
  • #26,334
  • Apr 6, 2009 7:38pm Apr 6, 2009 7:38pm
Quoting KissFan
I just use my "would I post this trade on the James16 thread" indicator. It really is a great way to profits.

K.I.S.S.
I like it. It's helped me alot over the years.
Indicators show the past. Price Action "Indicates" the future.
  • #26,335
  • Apr 6, 2009 7:39pm Apr 6, 2009 7:39pm
Mike is like the eye of Sauron, always watching....

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  • #26,336
  • Apr 6, 2009 7:49pm Apr 6, 2009 7:49pm
Quoting jarroo
Do you know how many people would like to sit next to you while your trading and thinking out loud. Not so creepy. My hand is raised.
What am I saying . . . . your videos come pretty darn close.
Indicators show the past. Price Action "Indicates" the future.
  • #26,337
  • Apr 6, 2009 7:53pm Apr 6, 2009 7:53pm
Quoting jarroo
What am I saying . . . . your videos come pretty darn close.
Stop you guys!! Too much Mikey ego stroking in too short a time.

Now I'm going to have to send some barmaids around to his joint to bitch slap him back to reality!
Bundy's status today: "Waiting..."
  • #26,338
  • Apr 6, 2009 8:05pm Apr 6, 2009 8:05pm
Quoting bundyraider
Now I'm going to have to send some barmaids around to his joint to bitch slap him back to reality!

I'm trying to work out if thats a good thing or a bad thing...
  • #26,339
  • Apr 6, 2009 8:36pm Apr 6, 2009 8:36pm
Quoting Blackinc
I'm trying to work out if thats a good thing or a bad thing...
You're right. I'm going to have to set up some pre-emptive bitch slappings for myself.
Bundy's status today: "Waiting..."
  • #26,340
  • Apr 6, 2009 9:03pm Apr 6, 2009 9:03pm
  •  krue
  • | Joined Mar 2008 | Status: finger scares cat, power of illusio | 410 Posts
your questions are mine too, on top of these, I was wondering if the trades were triggerred based on PA setup, I looked at his trades both the first and end of Mar., seems I could not find Jim16 setups in most cases( I downloaded his broker's feed for validation, looked into H1,H4,D1 and W1). probably he used different TF. in anycase, the result is very impressive, he is definitely the top ones in this thread who I wish to learn from, if he would be willing to shed light.



Quoting Forex007
Raczek, thanks A LOT for sharing that. Could you cast some light on the following, please:

1. Most of your positions were 10-12% of the a/c balance - was that purely on/for demo?

2. Some of your trades were profitable, but RR was 0.05 to 0.1 - was that savvy trade management or mainly luck (that you exited earlier and the trade did not happen a big loser)?

[color=#000000]3. Is there any logic/methodology behind some trades having SL and TP, some just SL, some (many) - neither? Isn't it dangerous...
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