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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

  • #27,561
  • Apr 21, 2009 4:09am Apr 21, 2009 4:09am
Would this pin do his job?
or the traffic will kill him
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Jesus Christ is my only Lord !
  • #27,562
  • Apr 21, 2009 4:18am Apr 21, 2009 4:18am
Quoting hipcio
Would this pin do his job?
or the traffic will kill him
You got it,

Too much Traffic for my liking anyway .
  • #27,563
  • Apr 21, 2009 4:22am Apr 21, 2009 4:22am
Quoting hipcio
Would this pin do his job?
or the traffic will kill him
Your short is probably just abt safe!

look at the chart attatched below.

Although there is'nt a lot of traffic IMO, I don't like the lack of space. For these counter trend setups you need super good shaped Pin bars with loads of space occurring off decent confluence zones to be termed A+.

Secondly look at the bar before it, it was another Pin bar that worked out too...which makes it a valid case of "conflicting bars" I talked abt a few weeks ago I guess...

In a nutshell not even close to being tradable for me...

Regards,
Ghous.
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I believe . . .
  • #27,564
  • Apr 21, 2009 4:32am Apr 21, 2009 4:32am
Thank You
Jigsaw and Ghous
for the opinion

I look also at fibo and pivot and hope for ema 150 second line res.

Peter
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Jesus Christ is my only Lord !
  • #27,565
  • Apr 21, 2009 4:42am Apr 21, 2009 4:42am
Quoting alter

Would you tell as how much is enough please?
Alter,

That's a difficult question to answer. It probably varies from person to person. Some people understand these methods faster than others. Look at jdeuster, for example. He is relatively new to the thread and has made lots of progress in a short time. Of course, he has read the entire thread, done tons of backtesting and even made a concise summary of the thread. If I am not mistaken, he just started live trading after three successful months of demo.

I have been following this thread closely since the end of 2008 and still feel that I have a long way to go before having the skills it takes to be reach the level I am aiming for. It's taking me longer to "get it" than others, but I have had "enough" J16 to convince me that this is the best place on the World Wide Web to learn how to trade forex without paying a dime.

The best advice I have seen regarding "how much is enough" is probably the very first post of this thread. If you read that post and the other posts that it references a few times, you may discover the answer to your question. If you do what I have not done and read this entire thread, I am confident that you will have had "enough J16" to convince you that no other methods are necessary to be successful in forex.
  • #27,566
  • Edited 5:19am Apr 21, 2009 4:48am | Edited 5:19am
Quote
Would you tell as how much is enough please?
alter,
To each his/her own.
We all have different, unique learning curves.



ghous,
OT: is your new avatar Naruto (it's too small i can't see the details)?


Greetings all! It's been awhile...
got to read back on a "few" pages of this amazing thread. LOL
by the way, is eur back again near the bargain levels? let's see..
  • #27,567
  • Apr 21, 2009 4:52am Apr 21, 2009 4:52am
i just watched some of the videos on james16 website. i have to admit that they were brilliant. really fantastic stuff.

one question: james is often refering to three pivot lines. are these the daily, weekly and monthly pivots? the ones which were also shown by the autopivotindicator_ver5, posted earlier on this thread?

thank you!
meine augen sind die sterne
  • #27,568
  • Apr 21, 2009 4:55am Apr 21, 2009 4:55am
Quoting aserbfx
i just watched some of the videos on james16 website. i have to admit that they were brilliant. really fantastic stuff.

one question: james is often refering to three pivot lines. are these the daily, weekly and monthly pivots? the ones which were also shown by the autopivotindicator_ver5, posted earlier on this thread?

thank you!
Hey,

No he just draws them from where he see's price bouncing away from.

No need for an indicator or identifier really , the best indicator is your eyes

Jig
  • #27,569
  • Apr 21, 2009 4:56am Apr 21, 2009 4:56am
Quoting PipGator
Alter,

That's a difficult question to answer. It probably varies from person to person. Some people understand these methods faster than others. Look at jdeuster, for example. He is relatively new to the thread and has made lots of progress in a short time. Of course, he has read the entire thread, done tons of backtesting and even made a concise summary of the thread. If I am not mistaken, he just started live trading after three successful months of demo.

I have been following this thread closely since the end of 2008 and still feel that I have...

Well said PipG. 'Enough' will vary from person to person. Everyone has different amounts of time they are able to put into this, and everyone has different goals of what they want out of it. Some love their current jobs and want to trade only to 'boost' their income... others trade 'as' their income and so can be spending much more time learning/developing/improving. BTW, I go live in May, barring any terrible decisions in the next 2 weeks...

Berti, I also passed on all daily PA last night. Lots there, nothing that jumped out at me though. GBP/Cad was nice, but couldn't find a good reason why it formed at that location...wished we had that pinbar at 1.76-1.77ish (Bottom of channel on daily). Mike and Bundy gave good analysis.

Josh
  • #27,570
  • Apr 21, 2009 5:48am Apr 21, 2009 5:48am
4hr Pin on Cable off previous support, now acting as resistance
  • #27,571
  • Apr 21, 2009 5:59am Apr 21, 2009 5:59am
Guys

Just wanted to ask if it is better to backtest using MT4 or Forexteter? ie, what can forextester do that MT4 cannot when backtesting? I know you need to pay for FXtester, but is it better than MT4 which is free? Any comments welcomed.

berti
PA is where its at!!
  • #27,572
  • Apr 21, 2009 6:13am Apr 21, 2009 6:13am
Quoting bertie123
Guys

Just wanted to ask if it is better to backtest using MT4 or Forexteter? ie, what can forextester do that MT4 cannot when backtesting? I know you need to pay for FXtester, but is it better than MT4 which is free? Any comments welcomed.

berti
Forextester all the way. It is much easier to be able to stop/start, resize and scroll back and forward without losing your place as you would with MT4.
I would suggest downloading the demo to have a play. (but remember the demo does not have full functionality)
already done another 4hrs on it this morning and my eyes are beginning to bleed. best distraction i have found yet to keep me out of the market
  • #27,573
  • Apr 21, 2009 6:14am Apr 21, 2009 6:14am
  •  MPP
  • Joined Jun 2007 | Status: Be yourself, everyone else is taken | 2,734 Posts
Quoting advfntrader
4hr Pin on Cable off previous support, now acting as resistance
I'm 1h into the next candle, the previous closed as a spining top/neutral bar, although it was an Outside bar, but if we look to the previous bars the 4h is in a range, looks like it wants to go long, but it made it below both the 150 & 365 ema and is now being stalled in this area, i don't see this as being tradable.

Lets see what the Big guns think.

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  • #27,574
  • Apr 21, 2009 6:18am Apr 21, 2009 6:18am
Quoting simoncs
Forextester all the way. It is much easier to be able to stop/start, resize and scroll back and forward without losing your place as you would with MT4.
I would suggest downloading the demo to have a play. (but remember the demo does not have full functionality)
already done another 4hrs on it this morning and my eyes are beginning to bleed. best distraction i have found yet to keep me out of the market
Simon,

Thanks for the advice - will look at the |demo package. How is your trading going? Have taken a look at your blog and you seem to be doing well - are you seeing steady growth yet?

berti
PA is where its at!!
  • #27,575
  • Apr 21, 2009 6:25am Apr 21, 2009 6:25am
  •  MPP
  • Joined Jun 2007 | Status: Be yourself, everyone else is taken | 2,734 Posts
Bearish IB on daily, whats interesting is the range just below this that goes back to 2000 - looks like it should yeld some good pips.

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  • #27,576
  • Apr 21, 2009 6:27am Apr 21, 2009 6:27am
Quoting simoncs
Forextester all the way. It is much easier to be able to stop/start, resize and scroll back and forward without losing your place as you would with MT4.
I would suggest downloading the demo to have a play. (but remember the demo does not have full functionality)
already done another 4hrs on it this morning and my eyes are beginning to bleed. best distraction i have found yet to keep me out of the market

Hi simoncs,

Just out of a matter of interest, have you ever had a chance to try out Vhands for MT4.

http://www.forexfactory.com/showthread.php?t=60849

If so, how did you find it?

I have not tried either VHands or ForexTester yet ...... it's on my to do list

Cheers
MM
  • #27,577
  • Apr 21, 2009 6:55am Apr 21, 2009 6:55am
[quote=alter;2683395]
Quoting raczekfx
It is only my opinion off course, but If I were you, I would just commit 100% of my time to j16PA method. Once you get enough practice here, you will never look anywhere else.
Trust me.../quote]

Would you tell as how much is enough please?
you will know when the light comes one... you will..
  • #27,578
  • Apr 21, 2009 7:05am Apr 21, 2009 7:05am
Quoting Jduester
Well said PipG. 'Enough' will vary from person to person. Everyone has different amounts of time they are able to put into this, and everyone has different goals of what they want out of it.

Josh
Well, if you trade only weekly and daily timeframes, even if you have 12 hours every day, you can take trades just once per day.
  • #27,579
  • Apr 21, 2009 7:10am Apr 21, 2009 7:10am
Quoting bertie123
Simon,

Thanks for the advice - will look at the |demo package. How is your trading going? Have taken a look at your blog and you seem to be doing well - are you seeing steady growth yet?

berti
I am now starting to- I have had a lot of problems with impatience which is causing over trading. I am slowly beating this and the last few weeks have been a great improvement, but it is hard as that is my major vice in just about everything i do. The testing has been a great help though.
  • #27,580
  • Apr 21, 2009 7:12am Apr 21, 2009 7:12am
Quoting alter
Well, if you trade only weekly and daily timeframes, even if you have 12 hours every day, you can take trades just once per day.
Alter,

After a few years of dabbling in Fx and kidding myself on(wasted time but thankfully not much money) I am now getting serious about this by starting to do it the J16 way. This is my 1st week of 3 months on the dailiesweeklies and it is mostly a waiting game. However there is plenty to do during this time, eg check key posts on thread, back-test, watch guest videos etc etc - as has been said it depends on what you want out of this. We all have different aims and ideas.

I saw a potential trade last night but I rejected it because it was not an A+ trade. That for me is progress because in the past my attitude would have been' let's take it and see what happens'.

berti
PA is where its at!!
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