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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

  • #30,401
  • May 19, 2009 6:57am May 19, 2009 6:57am
Quoting mattfx
I have thought a great deal about this, yet I have discovered another system, that is not the subject of this thread that I have been analysing for over 100 trades now. It uses a very simple technique on the weekly charts, btw it has proved 1:1 win/loss ratio yet the winners are 1.44 of losing trades. The very thread existed on this forum, yet has been kicked by the moderators for whatever reason they had....maybe chat in private about it ?

Cheers....Mat
Sure, happy to trade ideas, I'll send you mine and you can check it out. Hopefully it doesn't seem to stupid....(give me a few, going to try to put it into something
legible)
  • #30,402
  • May 19, 2009 7:02am May 19, 2009 7:02am
This method is so damned simple that it completely defies any logic that it can actually work...
Without women, money would have no meaning - Aristotle Onassis
  • #30,403
  • May 19, 2009 7:15am May 19, 2009 7:15am
Quoting mattfx
This method is so damned simple that it completely defies any logic that it can actually work...


What method, can you share it?
Economists have forecast 9 out of the last 5 recessions
  • #30,404
  • May 19, 2009 7:37am May 19, 2009 7:37am
just been looking back over daily charts, there is NO DOUBT this method works, the trick is to have faith in a decent setup and hold over the longer term. much easier in hindsight though !!

demoing is all very well but I have found when REAL MONEY is on the line things change. you need to behave like a robot and set the stop and limit and walk away, this is the hard part. looking back over charts and saying "could have" made 500 pips is all very well, actually riding your profit for 500 pips is another ball game !
  • #30,405
  • May 19, 2009 7:43am May 19, 2009 7:43am
Quoting advfntrader
just been looking back over daily charts, there is NO DOUBT this method works, the trick is to have faith in a decent setup and hold over the longer term. much easier in hindsight though !!

demoing is all very well but I have found when REAL MONEY is on the line things change. you need to behave like a robot and set the stop and limit and walk away, this is the hard part. looking back over charts and saying "could have" made 500 pips is all very well, actually riding your profit for 500 pips is another ball game !
My plan is to use 2 bar stop with some tweaks, that way you can ride a long move and cut your losses if it only goes a few pips. One tweak might be to move to break even at 50 pips, then move to 2 bar stop.
Economists have forecast 9 out of the last 5 recessions
  • #30,406
  • May 19, 2009 7:48am May 19, 2009 7:48am
Quoting advfntrader
just been looking back over daily charts, there is NO DOUBT this method works, the trick is to have faith in a decent setup and hold over the longer term. much easier in hindsight though !!

demoing is all very well but I have found when REAL MONEY is on the line things change. you need to behave like a robot and set the stop and limit and walk away, this is the hard part. looking back over charts and saying "could have" made 500 pips is all very well, actually riding your profit for 500 pips is another ball game !
i hear that bro!!!!
PATIENCE... DISCIPLINE
  • #30,407
  • May 19, 2009 7:57am May 19, 2009 7:57am
Quoting markmm
Do you think its worthwhile spending time just watching price action at S/R with Vhands? Im sure you could see a pattern for scalping, like Jeffs retrace.
It's always worthwhile looking for patterns. Market loves repetition....
Hence I shorted 4 yen crosses without blinking my eye, when dow futures hit 8540 almost 3 hrs ago... .
I also longed ucad when oil hit 60 mark again...
I still believe euro will be on it's knees by the end of this year, but I'll stop right here...

You have to find the edge. It's a ZERO sum game after all.
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  • #30,408
  • May 19, 2009 7:59am May 19, 2009 7:59am
Quoting raczekfx
It's always worthwhile looking for patterns. Market loves repetition....
Hence I shorted 4 yen crosses without blinking my eye, when dow futures hit 8540 almost 3 hrs ago... .
You have to find the edge. It's a ZERO sum game after all.
Did you take that 1hr pb, or just fade it? Saw that level approaching but just couldn't pull the trigger. Nice play
  • #30,409
  • May 19, 2009 8:08am May 19, 2009 8:08am
Quoting Jlr
Did you take that 1hr pb, or just fade it? Saw that level approaching but just couldn't pull the trigger. Nice play
I haven't changed my trading style in over a year now....
.
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  • #30,410
  • May 19, 2009 8:15am May 19, 2009 8:15am
Quoting raczekfx
I haven't changed my trading style in over a year now....
.
Thanks, wow, I totally missed the same exact trade. Perhaps it was a little to good for me to take. I think back to demo for a bit
  • #30,411
  • May 19, 2009 8:18am May 19, 2009 8:18am
Quoting raczekfx
I haven't changed my trading style in over a year now....
.
If someone tells you to change your trading style I suggest that you completely ignor them, from what I have seen there raczekfx you have eyes in the back of your head....
Without women, money would have no meaning - Aristotle Onassis
  • #30,412
  • May 19, 2009 8:28am May 19, 2009 8:28am
Quoting mattfx
If someone tells you to change your trading style I suggest that you completely ignor them, from what I have seen there raczekfx you have eyes in the back of your head....
If I read what other people think or say, their opinions, etc... I would be like millions of those zombies glued to TV boxes. You would see me on this board posting something like :
what do you guys think of this.... I need your opinion on eur/jpy long.... do you think it's ok to short this pin bar.....what do i do next ? or constantly questioning my own decisions, unable to pull the trigger. Sounds esoteric, but all answers are within you, you just have to know where to look...

You were given eyes, so you could see and brain to think, not to follow masses blindly. If don't use your senses properly, you're a brainwashed android, not a HUMAN BEING
  • #30,413
  • May 19, 2009 8:34am May 19, 2009 8:34am
What's holding the usdjpy back, I see it back of pennant and 38.2, if you were wondering ?
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Without women, money would have no meaning - Aristotle Onassis
  • #30,414
  • May 19, 2009 8:45am May 19, 2009 8:45am
Quoting raczekfx
If I read what other people think or say, their opinions, etc... I would be like millions of those zombies glued to TV boxes. You would see me on this board posting something like :
what do you guys think of this.... I need your opinion on eur/jpy long.... do you think it's ok to short this pin bar.....what do i do next ? or constantly questioning my own decisions, unable to pull the trigger. Sounds esoteric, but all answers are within you, you just have to know where to look...

You were given...
Agree, I said to my wife "Apart from watching endless hours of television or someone that could have a hobby playing with model trains, or attending endless meetings for charity, ....yet I am here with the family, and have a hobby that not only defers dementia, it makes additional income" man, will they ever understand ?
Without women, money would have no meaning - Aristotle Onassis
  • #30,415
  • May 19, 2009 8:55am May 19, 2009 8:55am
Quoting raczekfx
If I read what other people think or say, their opinions, etc... I would be like millions of those zombies glued to TV boxes. You would see me on this board posting something like :
what do you guys think of this.... I need your opinion on eur/jpy long.... do you think it's ok to short this pin bar.....what do i do next ? or constantly questioning my own decisions, unable to pull the trigger. Sounds esoteric, but all answers are within you, you just have to know where to look...

You were...
Very true, however I don't think asking questions in general is to be frowned upon, the more questions you ask the quickly you can climb the learning curve. But asking for specific trading advice is the wrong approach, better to take a trade based on your analysis then post it to the forum and ask for feedback while learning. Also note the feedback from people you respect and try and learn from it.
Economists have forecast 9 out of the last 5 recessions
  • #30,416
  • May 19, 2009 9:08am May 19, 2009 9:08am
afternoon ladies and gents,

at the moment, im looking at the EJ and when i put the two 4H bars together id get a decent 8H pin.

my question is, for those of you who use metatrader, is there anyway to obtain an 8H chart for such instances?? not a custom made one such as my own
  • #30,417
  • May 19, 2009 9:12am May 19, 2009 9:12am
as long as it MAKES aditional income. for some it may take years to get to this stage though. don't kid yourself, be careful as this is a very risky hobby to have and could be very expensive !


Quoting mattfx
Agree, I said to my wife "Apart from watching endless hours of television or someone that could have a hobby playing with model trains, or attending endless meetings for charity, ....yet I am here with the family, and have a hobby that not only defers dementia, it makes additional income" man, will they ever understand ?
  • #30,418
  • May 19, 2009 9:13am May 19, 2009 9:13am
Hello.

Anyone may tell, please.
How many pips in profits to set stoploss to breakeven, here?

007
  • #30,419
  • May 19, 2009 9:28am May 19, 2009 9:28am
Chart shows the correlation of a DBLHC and an RSI Positive Reversal. Target was 90 pips.
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  • #30,420
  • May 19, 2009 9:29am May 19, 2009 9:29am
007,

There is no set answer to your question, the veterans here will even tell you that this all has to do with your own style of trading. Some move to BE after a set number of pips, and soem move to BE at Price's first resistance. It all depends on your risk tolerance and where you think price is going to go based on support and resistance.

Others can elbaorate more, but there is no set answer.

Quoting kk007
Hello.

Anyone may tell, please.
How many pips in profits to set stoploss to breakeven, here?

007
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