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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

  • #29,461
  • May 8, 2009 12:25am May 8, 2009 12:25am
i'm closing my EUR/AUD order. NFP too close.
no tradin' till next week!
  • #29,462
  • May 8, 2009 2:20am May 8, 2009 2:20am
Isnt NFP a USD based news item?
Economists have forecast 9 out of the last 5 recessions
  • #29,463
  • May 8, 2009 2:52am May 8, 2009 2:52am
do you know how long it takes me to clean my charts after this!!?? lol
i like this setup.
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PATIENCE... DISCIPLINE
  • #29,464
  • May 8, 2009 3:00am May 8, 2009 3:00am
did anybody else get stung by this wip-saw??....come on admit it.... cost me 3 potentially good trades!!
theres a lesson to be learned here somewere!!??
i think ill sit out the next day like yesterday!! lol. sounds like a good excuse for a day off
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PATIENCE... DISCIPLINE
  • #29,465
  • May 8, 2009 4:23am May 8, 2009 4:23am
Hi,i cant just but say this,you such a good person,i have known you from petercrown's thread and i have literally studied you,i love you charts ,simple and straightforward and your response to post,keep it up jarroo you are appreciated,thank you


Quoting jarroo
You have many tricks up your sleeve Mike. Learning all of them and putting them all together does take some time, for sure.
But when they do come together it sure is a whole alot of fun.
D labour of a fool wearieth him cos he doesn't know how to enta d city
  • #29,466
  • May 8, 2009 5:02am May 8, 2009 5:02am
greetings all... love this forum.. been following for quite a while, but minimal posts from me.

I like using stoches, and was wondering if anyone could help here. I am looking for an indicator, preferably mq4 that will show 4-5 timeframes...

example of wht i am looking for posted.

would appreciate any assistance.

thanks
duflingy

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Durn the torpedos, full speed ahead
  • #29,467
  • May 8, 2009 5:18am May 8, 2009 5:18am
Quoting PipGator
marcelnyo,

I guess the ultimate answer to your question (and my questions) has a lot to do with your style as a trader. (Thanks to TiaForex for helping me realize that trading style is a very important factor in determining whether a setup is tradeable.) Do you prefer to eliminate the possibility of a loss very quickly like james16, jarroo and others? Do you prefer to hold on to your positions and/or only take A+++ setups like Mike and/or Josh?

I too am curious to see how other people respond to our questions. It seems that we both have much to...
I'm flattered that I got mentioned in this post, but I shouldn't be compared to Mike. I'm still in the very early stages of forex trading development/expertise. I've tried to adapt both Mike's eagle eye as well as Jarroo's risk managment to form my strategy. Always a work in progress, of course, but seems to be working ok so far.

Pretty quiet overnight... now do I pull the E/A order or do I wait... will be out from 6-7am CT, so have 30 minutes to think about it... will probably leave it in. Nothing has changed my opinion of the direction the pinbar says it will go...

Josh
  • #29,468
  • May 8, 2009 5:50am May 8, 2009 5:50am
Quoting Jduester
I'm flattered that I got mentioned in this post, but I shouldn't be compared to Mike....
I have an order for the E/A pin bar on daily, I have waited on such a setup so I think once youve made a decision based on PA/SR to stick to it. I think it has a strong chance of reaching 1.8000 if it breaks. Then it will be a case of move to B/E and let it do its thing.

M
Economists have forecast 9 out of the last 5 recessions
  • #29,469
  • May 8, 2009 7:01am May 8, 2009 7:01am

Peter
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Jesus Christ is my only Lord !
  • #29,470
  • May 8, 2009 7:36am May 8, 2009 7:36am
Quoting jarroo
Its interesting, the different styles between Mike and James16. They do wait for the best setup to trade. They are very picky as we all should be.

But Mike is much more strict in his evaluation of a A+ setup then James16. I don't want to say conservative in the trading sense because once the "A+" setup is confirmed by both of them, their strictness is reversed.

James16 will move to break even quickly, where Mike will understand the strength and power behind an A+ setup and allow for some draw down. He knows that his stop loss at the bottom/top...
I have the feeling that James trades a lot more money with his account (but I am not sure, cause I am not James) so he tends to have the BE line covered sooner than Mike.
this is what I sensed watching James webinars!
mea
  • #29,471
  • May 8, 2009 7:51am May 8, 2009 7:51am
Quoting duflingy
greetings all... love this forum.. been following for quite a while, but minimal posts from me.

I like using stoches, and was wondering if anyone could help here. I am looking for an indicator, preferably mq4 that will show 4-5 timeframes...

example of wht i am looking for posted.

would appreciate any assistance.

thanks
duflingy

Attachment
Probably the wrong place to be asking here, but this might help u out.
Attached File(s)
File Type: ex4 KG PRICE ACTION DETECTOR.ex4   23 KB | 692 downloads
  • #29,472
  • May 8, 2009 7:55am May 8, 2009 7:55am
  •  MPP
  • Joined Jun 2007 | Status: Be yourself, everyone else is taken | 2,734 Posts
Quoting mea
I have the feeling that James trades a lot more money with his account (but I am not sure, cause I am not James) so he tends to have the BE line covered sooner than Mike.
this is what I sensed watching James webinars!
mea
There's a few other traders on FF like James, Jacko being one of them that i know trade large sum of money, but they love it, so it's not about the $ for them - well not completely

I expect when we get there 10pips will be enough for us too.

I do know that if my 430pips on AJ this week had been with either of there lot sizes i could take the rest of the year off. LOL until the wife finds out and goes shopping.

best of pips all, have a great weekend friday night in Oz and the beer is sooooooo cold you just have to drink one.
  • #29,473
  • May 8, 2009 7:57am May 8, 2009 7:57am
Money's important but you have to do what you love, otherwise it just becomes a job. Well paying as it may be eventually you'll get tired of it. Trust me.
Patience + Humility + Study = Success
  • #29,474
  • May 8, 2009 8:31am May 8, 2009 8:31am
Quoting MPP
LOL until the wife finds out and goes shopping.
  • #29,475
  • Edited 9:49am May 8, 2009 8:36am | Edited 9:49am
Quoting jarroo
Its interesting, the different styles between Mike and James16. They do wait for the best setup to trade. They are very picky as we all should be.

But Mike is much more strict in his evaluation of a A+ setup then James16. I don't want to say conservative in the trading sense because once the "A+" setup is confirmed by both of them, their strictness is reversed.

James16 will move to break even quickly, where Mike will understand the strength and power behind an A+ setup and allow for some draw down. He knows that his stop loss at the...
Great work Jarroo. This is exactly what I've been trying to describe for a while. Trade selection is only part of the picture. Mike is super picky because his management style means he doesn't 'day trade off the dailies' like Jim. So everyone picks trades differently depending on how they manage them. If I'm a "quickly get stops to break even" kinda trader then I'll take more trades but get chopped out more in the whipsaws back to break even. I've tried to encapsulate it before now but I bow to the poet of FF...

PS: I am pulling my EURAUD order. London hasn't given us a hard break and I don't want to hold it going into the weekend.

Have a great weekend everyone.

Aaron
  • #29,476
  • May 8, 2009 8:54am May 8, 2009 8:54am
Guys
Am i looking at this right, and should i wait until 4 to 8 hours after Sunday open to consider taking this trade. I have to say that i really respect the traders on this forum. I have been struggling for five years, and have started to turn around with this forum.
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  • #29,477
  • May 8, 2009 8:58am May 8, 2009 8:58am
Looks like we've had a break of both the EURGBP BUOB and the GBPCHF BEOB.
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  • #29,478
  • May 8, 2009 9:03am May 8, 2009 9:03am
Have to agree that the GBP/USD looks better, only because EUR/GBP looks like it is in a tight range market verse the uptrend GBP/USD is showing. GBP/USD will be against the trend so be nimble, if it breaks looking at 40ish to 200ish pips.


Quoting jarroo
I mean to say it this way :

I like the BEOB of Daily Gbp/Usd because the high of the swing High is deeper then the Low of the swing Low of the BUOB Daily Eur/Gbp.

Am I making sense at all?
  • #29,479
  • May 8, 2009 9:26am May 8, 2009 9:26am
No one has mentioned this buob on Eur/Jpy so i'm thinking maybe i'm reading it wrong ? As we can see from the chart it is with the trend but there's lots of lots of Ppz ahead, 134 and 136, any thoughts ?
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  • #29,480
  • May 8, 2009 9:39am May 8, 2009 9:39am
Quoting R Richards
Guys
Am i looking at this right, and should i wait until 4 to 8 hours after Sunday open to consider taking this trade. I have to say that i really respect the traders on this forum. I have been struggling for five years, and have started to turn around with this forum.
Hey bro,

I will look at my weeklies on sunday, that looks like a good trade. Yeah I'll wait for the Market to open before placing my trade.

Quoting Billy73
No one has mentioned this buob on Eur/Jpy so i'm thinking maybe i'm reading it wrong ? As we can see from the chart it is with the trend but there's lots of lots of Ppz ahead, 134 and 136, any thoughts ?
Which candle are you referring to bro ?

I see no BUOB ?
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