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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

  • #27,301
  • Apr 17, 2009 9:59am Apr 17, 2009 9:59am
Quoting ghous
Gbp/Aud,
Took off the trade at the 50 pullback off the pin bar at +40, Leaves me with so much less to risk (and hence stress) for the second more conservative entry
I believe . . .
  • #27,302
  • Apr 17, 2009 10:04am Apr 17, 2009 10:04am
Josh,

I am doing exactly what you have suggested - reading Douglas and taking notes! All good stuff in his book, putting it into practice harder of course. Still, another sign post along the way to successful trading I am sure.

Good weekend to y'all,

berti
PA is where its at!!
  • #27,303
  • Apr 17, 2009 10:56am Apr 17, 2009 10:56am
with my thread, some trades added and some more info & trades = this evening.
  • #27,304
  • Apr 17, 2009 11:03am Apr 17, 2009 11:03am
Quoting Jduester
Just PMed you.
Hi all

Have posted a couple of times on here but am just reading and studying mainly. I would be interested in a template for a trading plan too - any chance you could PM me Josh? Much appreciated - and keep up the great work.
  • #27,305
  • Edited 11:39am Apr 17, 2009 11:11am | Edited 11:39am
PB on 4H Chart. TEsted the support below and it's right after the resistence.

EDIT: I have the feeling I'm buying it on the top... that's not good
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  • #27,306
  • Apr 17, 2009 11:25am Apr 17, 2009 11:25am
Quoting Leebar
Hi all

Have posted a couple of times on here but am just reading and studying mainly. I would be interested in a template for a trading plan too - any chance you could PM me Josh? Much appreciated - and keep up the great work.
I didn't want to clog this thread, but I've already had several requests for suggestions on a trading template. This is what I sent the others...

I have each of these headings in mine. Each heading has details of what I want to trade and how I want to trade it.

- Risk Management
%/trade, Max % Drawdown on the account, what happens if I have that drawdown
- Trade Strategy
What PA will I trade, what confluence will I allow to help guide me, what charts and timeframe, any other factors
- Trade Placement
entries, exit strategy, stop placement and profit target assessments,
- Goals
goal for each trade, each month, the account, and next steps once these goals are met.
- Ideas to be added to my trading strategy/risk management:
inside bars, entries before break of PA bar, intraday charts, etc.

This should get you started... Best to always keep it up when you are trading. Also, I would consider making a checklist of things to check before entering a trade. I've done this in the past and it seems to keep me out of questionable trades.

Mine all fits on one page. I think it's important to make it clear and concise... it's what you should follow for each and every trade (if you are the structured rules type). If it's too complicated or long, you'll most likely abandon it. Just my 2.

Think I'm calling it a week. Gotta let my mind process! Happy weekend everyone.

Josh
  • #27,307
  • Apr 17, 2009 11:50am Apr 17, 2009 11:50am
did anyone take this setup?
seemed pretty good at the time?

location wasn't bad only prob was price was kind of consolidating.
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  • #27,308
  • Apr 17, 2009 12:04pm Apr 17, 2009 12:04pm
Has anyone traded the breakout of this wedge?
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One Chart is Worth Ten Thousand Words.
  • #27,309
  • Apr 17, 2009 12:09pm Apr 17, 2009 12:09pm
How about this huge juicy pinbar?
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One Chart is Worth Ten Thousand Words.
  • #27,310
  • Apr 17, 2009 12:34pm Apr 17, 2009 12:34pm
Quoting Forex007
How about this huge juicy pinbar?
You remind me of Jig, lol!

Nice work,
I believe . . .
  • #27,311
  • Apr 17, 2009 12:59pm Apr 17, 2009 12:59pm
[quote=Jduester;2676723]I didn't want to clog this thread, but I've already had several requests for suggestions on a trading template. This is what I sent the others...


Thanks Josh you are a generous man.
  • #27,312
  • Apr 17, 2009 3:26pm Apr 17, 2009 3:26pm
[quote=Jduester;2676723]I didn't want to clog this thread, but I've already had several requests for suggestions on a trading template. This is what I sent the others...

Cheers Josh - appreciate it.
  • #27,313
  • Apr 17, 2009 6:12pm Apr 17, 2009 6:12pm
anyone here trade w/ or know anything about oanda? thx.
http://www.forexfactory.com/showthread.php?t=164052
  • #27,314
  • Edited 10:58pm Apr 17, 2009 10:45pm | Edited 10:58pm
Quoting dkmb92
anyone here trade w/ or know anything about oanda? thx.
http://www.forexfactory.com/showthread.php?t=164052
Yes. I like the ability to customize the size of my trade. Very low spreads on several pairs. They have treated me fairly when their platform had a glitch and caused me a loss when I should have had a gain. My account makes interest even when I am not trading.

Their daily candle starts in the middle of the Asian session. This is different. For some methods it helps. For others... confusion.

No trailing stops have been an issue although they have it going in their beta study.

Fib study tools are antiquated. Their fib time tool is broken. They know it. Even argued with me for a bit... but then admitted it. Wider spreads during 'the news' but that is just a good warning not to trade then, as far as I am concerned.

They have a lot of market studies and charts showing open positions and percentage of positions taken in various pairs. Maybe I will figure out how best to use that data.
IFR news and market info is timely and good in my opinion.
  • #27,315
  • Apr 18, 2009 1:15am Apr 18, 2009 1:15am
Hi James and all the Guys on this thread

This is my first POST and i had to write it here in this thread because this thread just opened my eyes
Few words about me i started with trading stocks about year ago without too much success. About 4 month ago i found FF when i searched on the net for some info.

I looked over various threads here with methods and systems but this thread caught my attention method without indicators just PA . It took me a time to go threw this thread and to understand what it all about. Now it is time to try to put it all in action and of course with DEMO account and only with daily TF till it all come together and will be consecutive and profitable for at least 3 months.

So BIG even HUGE THANKS for all the contributors and James Followers and Especially JAMES16 Himself for the Idea and the time dedicated to this EXCELLENT thread

Keep up the good work guys

Michael
  • #27,316
  • Apr 18, 2009 3:38am Apr 18, 2009 3:38am
Quoting michaelufx
Hi James and all the Guys on this thread

This is my first POST and i had to write it here in this thread because this thread just opened my eyes
Few words about me i started with trading stocks about year ago without too much success. About 4 month ago i found FF when i searched on the net for some info.

[size=3][font=Times New Roman]I looked over various threads here with methods and systems but this thread caught...
I seriously love these posts, cause you can just see the lights coming on

Welcome Michael
  • #27,317
  • Apr 18, 2009 5:18am Apr 18, 2009 5:18am
Just wanted to say hello and thank James, associates and all the contributors, not forgetting Trader Dante who recommanded me this thread thru his on T2W.
Patience is magic
  • #27,318
  • Apr 18, 2009 7:12am Apr 18, 2009 7:12am
Quoting Forex007
How about this huge juicy pinbar?
sorry dont like the pin,good location though,!
like it
PATIENCE... DISCIPLINE
  • #27,319
  • Apr 18, 2009 8:32am Apr 18, 2009 8:32am
Quoting KissFan
I will sell this pair at 1.2524. Based on Pin at resistance. First TP at 1.2502. Move 2nd position to BE for hopeful ride to 1.2420 area. SL at 1.2653.

This trade never executed and was cancelled this morning.

K.I.S.S.
  • #27,320
  • Apr 18, 2009 9:08am Apr 18, 2009 9:08am
Quoting james16
this was a post made in another part of the forum and it was filled with anger, frustration and dissapointment. wow imagine that. has anyone new to this business not been there? i dare say not. maybe someone with a jillion dollars who doesnt care if they lose. i went thru it for eight grueling years when there was no help, NONE. no internet, no charts no nothing. just a peice of graph paper, ruler,pencil, newspaper and the number to my broker. if you are a new trader and you dont follow these rules at a minimum just quit now because you are toast....
I am really getting mad at you, Jim......You didn't make me a call when you firstly started this thread...so...great...LOL
I have been on 55 pages of learning curve....too much more time to absorb all invaluable information here from you and associations....to the end.
Thank you for your great effort to bring us the "third eye" in trading
forexngo
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