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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

  • #28,701
  • Apr 29, 2009 11:16pm Apr 29, 2009 11:16pm
Quote
I remember reading about managing a trade by moving up your stops on the 4 hour chart using 2 bars as a guide. I've been searching through the thread but I can't seem to find the details of the "2 bar 4 hours trailing stop" method.
I'm guessing that for a long, you trail your stops below the low of the 2nd bar back. I'd like to verify this strategy. If someone can point me in the right direction I would greatly appreciate it.

Greetings all...
scott,
I've got mild amnesia, so can't remember if there was such a post. However, i do remember that mbqb11/Mike mentioned that in the PF's guest material, in at least 1 video . Hopefully this video sheds some light on your concern.
  • #28,702
  • Apr 29, 2009 11:23pm Apr 29, 2009 11:23pm
Quoting catiron
I think you're right, there are enough good setups that will run. To be at break even during a pull back on a weaker setup is better than risking a loss.
Don't get me wrong John. The Usd/Jpy Daily PB was a good setup. I didn't trade it but there are many different ways to trade it while minimizing your risk.

The first is establishing that it is a good setup by its Location and supporting confluences.
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Indicators show the past. Price Action "Indicates" the future.
  • #28,703
  • Apr 29, 2009 11:26pm Apr 29, 2009 11:26pm
Quoting james16
huh... so where in the United States do you live?
Aha.... I got u there, Sir

I'm from the Philippines, a very promising but still-burdened country.
the short discussion earlier can be seen in these posts by hans356 (1 & 2) & gorubin .
  • #28,704
  • Apr 29, 2009 11:26pm Apr 29, 2009 11:26pm
Quote
"2 bar 4 hours trailing stop" method

Quoting supremeChaos
Greetings all...
scott,
I've got mild amnesia, so can't remember if there was such a post. However, i do remember that mbqb11/Mike mentioned that in the PF's guest material, in at least 1 video . Hopefully this video sheds some light on your concern.
It looks like a modified version of the "Guppy Countback Line" which has been around for a while, but with some added wisdom from Mike.

http://www.guppytraders.com/gup332.shtml
WARNING: Don't follow me as I'm just learning
  • #28,705
  • Apr 29, 2009 11:29pm Apr 29, 2009 11:29pm
Quoting adam777
It looks like a modified version of the "Guppy Countback Line" which has been around for a while, but with some added wisdom from Mike.

http://www.guppytraders.com/gup332.shtml
yes apologies when I came up and used it it was just out of pure testing and what not. I posted some of those findings and it just took off from there. I certainly don't claim to have invented something so simple It is just one of the many ways I use for trade mgmt. Every situation I believe is unique and I try to pick the best way of managing a trade at the time.

Thanks guys
Mike
  • #28,706
  • Apr 29, 2009 11:30pm Apr 29, 2009 11:30pm
jarroo,
i have this post a little earlier, about audjpy. most likely u overlooked it. Could u please take a look?
Appreciate always your insight
  • #28,707
  • Apr 29, 2009 11:31pm Apr 29, 2009 11:31pm
Is it clockwork that is the guitarist?

well ive never admitted it but im one also.

started playing in 1974.

I have always been a huge fan of some forms of classical music and of course classic rock.

perhaps my favorite music of all is when the two are combined such as in this case.

The brilliance of this kids ability at his age is beyond description.

enjoy,

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  • #28,708
  • Apr 29, 2009 11:33pm Apr 29, 2009 11:33pm
Quoting raczekfx
re1: 146.33 & 142.31
re2: almost always

re: fiber, watch out if you're long.
I posted chart in the pf
interesting, voodoo master...

No, i was not in on fiber. got in on ej a bit earlier at that time, though.
Hopefully, u have an archives section in the PF for us to look at, when my proper time comes, I'd sure look at them charts.

Thanks again raczekfx
  • #28,709
  • Apr 29, 2009 11:37pm Apr 29, 2009 11:37pm
Quoting mbqb11
yes apologies when I came up and used it it was just out of pure testing and what not. I posted some of those findings and it just took off from there. I certainly don't claim to have invented something so simple It is just one of the many ways I use for trade mgmt. Every situation I believe is unique and I try to pick the best way of managing a trade at the time.

Thanks guys
Mike
...actually I think Daryl Guppy mentioned in one of his books that he learnt it off an old bond trader he knew ... who probably learnt it from someone else
WARNING: Don't follow me as I'm just learning
  • #28,710
  • Apr 29, 2009 11:37pm Apr 29, 2009 11:37pm
Quoting g_j_hook@yah
hi mike,
iv posted this chart as an example of what i understand when you ,and others, talk of "space" could you comment please, i wanna make sure im getting this right!!
thanx
jon
That's a lot of space, Jon
  • #28,711
  • Apr 29, 2009 11:38pm Apr 29, 2009 11:38pm
Quoting james16
Is it clockwork that is the guitarist?

well ive never admitted it but im one also.

started playing in 1974.

I have always been a huge fan of some forms of classical music and of course classic rock.

perhaps my favorite music of all is when the two are combined such as in this case.

The brilliance of this kids ability at his age is beyond description.

enjoy,

http://www.youtube.com/watch?v=owAj5...eature=related
very cool, some crazy stuff up there on you tube with kids that can barely walk lol

my baby
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  • #28,712
  • Apr 29, 2009 11:40pm Apr 29, 2009 11:40pm
Quoting adam777
...actually I think Daryl Guppy mentioned in one of his books that he learnt it off an old bond trader he knew ... who probably learnt it from someone else
no need to reinvent the wheel. Just about taking basic concepts and putting them into a workable format. That is how I see it

yeah I just like things that are simple. I am a simple guy, so it clicks well
  • #28,713
  • Apr 29, 2009 11:46pm Apr 29, 2009 11:46pm
very nice mike.

yeah that kid was born with that ability. no one "learns" to play guitar like that.

bugs me to tell the truth.

i would give just about anything to be able to do that.

jim

Quoting mbqb11
very cool, some crazy stuff up there on you tube with kids that can barely walk lol

my baby
  • #28,714
  • Apr 29, 2009 11:47pm Apr 29, 2009 11:47pm
Quote
Is it clockwork that is the guitarist?
well ive never admitted it but im one also.
started playing in 1974.
I have always been a huge fan of some forms of classical music and of course classic rock.
perhaps my favorite music of all is when the two are combined such as in this case.


Flash post! (another opportune time for me!)
Sir Jim,
just saw your charts. Thanks again for posting them.

I agree with your view about classical music & rock. I'm not sure, but i believe classical music has the "difficulties" i crave for when it comes to playing instruments.
by the way, are u left-handed too (was g_j_hook@yah referring to u earlier) ?
  • #28,715
  • Apr 29, 2009 11:47pm Apr 29, 2009 11:47pm
Quoting james16
very nice mike.

yeah that kid was born with that ability. no one "learns" to play guitar like that.

bugs me to tell the truth.

i would give just about anything to be able to do that.

jim
no doubt about that, my little brother learned everything in a few months that took me years. Both my older and younger brothers can play anything by ear right after they hear it. I was blessed with being tone deaf
  • #28,716
  • Apr 29, 2009 11:48pm Apr 29, 2009 11:48pm
Quoting james16
Is it clockwork that is the guitarist?

well ive never admitted it but im one also.

started playing in 1974.

I have always been a huge fan of some forms of classical music and of course classic rock.

perhaps my favorite music of all is when the two are combined such as in this case.

The brilliance of this kids ability at his age is beyond description.

enjoy,

http://www.youtube.com/watch?v=owAj5...eature=related
Truely amazing James!
What a talent that kid has.
"The more I practice, the luckier I get." (Gary Player)
  • #28,717
  • Apr 29, 2009 11:49pm Apr 29, 2009 11:49pm
mbqb11,
Any lefties in your family, by any chance, too?
I Must say, nice looking guitar Mike!
  • #28,718
  • Apr 29, 2009 11:56pm Apr 29, 2009 11:56pm
Quoting supremeChaos
mbqb11,
Any lefties in your family, by any chance, too?
I Must say, nice looking guitar Mike!
nope not a one
  • #28,719
  • Apr 30, 2009 12:04am Apr 30, 2009 12:04am
Quoting adam777
It looks like a modified version of the "Guppy Countback Line" which has been around for a while, but with some added wisdom from Mike.

http://www.guppytraders.com/gup332.shtml
thanks adam777, 1st time i heard about it.
  • #28,720
  • Apr 30, 2009 12:06am Apr 30, 2009 12:06am
Quoting supremeChaos
jarroo,
Hey Jim, u changed your charts!!!?! we are talking about H4 not Daily charts! LOL, just kidding.

back to your audjpy chart... i surmise that the above quote is based on the fact that the 2 previous (closed) H4 candles &/or the Daily candle is fairly huge. If these were not the case (that is, the size of the 2 previous closed H4 candles &/or the Daily candle is 1/3 or 1/2 that of the actual candle/s), then u would 100%...

My main focus was on the Daily and Yes, size does matter. But this is only part of the lyric that puts the whole song together. Location, confluences, how it breaks, Fib, etc., makes it a musical.

70.50 is not a jarroo play. Its a common sense, at a PPZ level, Price moves up and down at this level, simple play.

I don't look at ADR, maybe I should.
Indicators show the past. Price Action "Indicates" the future.
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