james16 Chart Thread

is it dblhc ?

Yep looks good to me, as long as those lows are within a few pips

Keep in mind that first bar from this formation is just 2 hour Sunday bar

oh woops good pickup, i was just looking at it as is!

In that case its not a DBLHC!

Hi everyone,
Recently, i decided to take out my old notebook with a few things i had written down from this thread. I decided to type it up into a nice little format for people to see. It could sort of be like a summary of what this thread has taught us about formations of bars. I wanted to add some things about the 100 MA or the 365 MA but I really didn't know what to type up.

My goal of this would be to give people a resource that is almost as effective as this AMAZING thread in 1 or 2 pages. Check it out, PM me if you have anything that you think I should add. I hope this is somewhat beneficial.

<3
Liquid11

eur/cad broke out of the sideways channel and met support at the rising trend line.
it then tried to get back into the channel but the strong climb over one session was just as easily beaten back by an almost identical fall.
now we are testing the rising trend line once again.
strong data for the pound this morning but the reaction seems largely muted in this pair so far...
a breakout could be imminent.

Going long on Gold on break of 240 pin bar and hourly BUOB. Price has retraced 61% of yesterdays move and has also found support off Fridays high. In line with major uptrend, price has slightly pierced weekly swing point and looking for this to follow through.

http://www.forexfactory.com/attachme...1&d=1176808358

Hi everyone,
this is my first post on this thread, which I have been reading for about 3 weeks...okok Im a slow reader I admit it, but cant we stop adding pages until Im done lol ANYWAY, I wanted to share my first adventure into the PA James 16 territory...and Im going to dedicate this to someone whose posts I really really like called "the wizard" -whoever you are you have truly touched my soul- so here goes, a dblhc, (at least thats what I thought it was) and look where I am 5 days later! Thanks to all you great guys out there, trading can be sooooooo lonely and you have helped brighten my days!

hello razl,
nice move! congratulations on your first trade!
tom

Thats a real compliment coming from you thanks a lot!

Speaking of Gold.. Formed a 1h BUOB from that bounce, took off 3$ from there or 6$ from the TL (not a lot imho, but I just liked the TL, fib, s/r confluence).

...and steve just to add to your analysis if you look on the daily it has broken the upper trendline of the upward channel that comes in around 686.60, lets see if it uses that as a support now...

razl, are you confusing me with someone else? i only ask because since i've been on ff, i've blown my personal account, plus a loan from my mother despite being unemployed and worse: unemployable. the amount of bills on my door mat is only matched by the size of my amazon wish list. i've learnt a little about pa, got excited and flooded the forums with charts of setups that worked great in hindsight but i still failed to spot every single one ahead of it happening. i've joined the pf, read jim's rules and promised myself i'd follow them. then immediately broke jim's rules about demoing first and took three live trades. despite two thirds of these being winners i am still 111 points down. i've become moody and disinterested in everyone and everything. they say the average male thinks about sex every seven seconds. i think about john arnold from centaurus energy making $2bn last year, once every 3. this makes my attention span almost non-existent. not great in a relationship. although on the positive side, i thought i was the only one in the world with problems until my best mate just told me he has "lost his chi" whilst copulating with a new orleans thrift shop chic, electro mc, in koh pha ngan. anyway. whether it was me or not: hi, i'm tom. pleased to meet you.

No Im not confusing you with anyone else. I really think youre so courageous sharing all your losses with us. Trading is hard work, keep going you are doing great! I look forward to your charts and setups and Im sure others do as well...maybe you need to get out more though, its a bit weird you think about john arnold from centaurus instead of sex lol, your friend sounds funny btw...

Well stopped out no Gold, got a reversal pin bar off weekly resistance, so moved my stop up to beneath this bar and stopped out, thats the way it goes!! Not a full loss as stop was moved up.

http://www.forexfactory.com/attachme...1&d=1176822503

James, Thanks for the one pager, I will check it out on the charts

Cosmo

Hi Wizard,
It's really sad what happened with you, thought you made it sound funny....echoes my life as well!!! Forex is so damn addictive that in spite of all ups & downs..I'm still very much it with all the uncertainties...hopefully, future will keep us alive & shape us as better traders...

Argh.
Okay, this immediately brings out the psychotherapist and lifeguide mode. You need to stop whatever it is you're doing if it involves risking money.
You need to clear your head and focus.

Go over the stuff below and after you start to have the feeling that you are actually starting to change(this may take 1-4 weeks) and are suddenly getting different perspectives, demo again or go get a micro and trade for 1-10 cents per pip, that works, too. But for real money, make sure you earned it yourself first. Tends to make a world of difference.

-

The following is something I believe a lot of people in one form or another should ask themselves. Before reading, please note I am neither trained nor qualified in this area by any other means than experience and reading.

The following is not blah blah or esoteric poop, even if the wording can appear that way sometimes. This is what I have found to be true(or applicable) for basically anyone I know or have met, myself included.

--

Motivation and self-image
Why am I chasing the fast money? (Ask yourself: Who am i? What do i WANT from life? Why did I choose this route? Are there really no alternatives or am I only telling myself this? Am I trying to prove something or grasping at straws or? What am I REALLY doing?)
Why do I want this? What are the effects and results on others that I want by/through it in the end and am I only seeking means that could also be achieved otherwise, but that I am telling myself I NEED FIRST before being able to get it(example: You believe you need money to get the girl you want because you have to be able to buy her things, dress properly and so forth. This is simply an excuse where you put a hard to meet condition before a personal goal, thereby excusing yourself for not trying to accomplish it right now, instead putting it off into the future when you do have money. Then at that point you might readily find new excuses and so forth. It's a loop.)


Causes
Why am I lacking discipline? (What are the real blockers? Are you influenced by anxiety/angst?)

Am I trying to manipulate yourself? ( -> You may not love and accept yourself. Change this. Realize who you are.)



Beliefs
Am I trying to manifest the belief of my surroundings that I am no good subconsciously? Am I really driven by my own, independent belief and convictions or are really other people and surroundings influencing me?
Is my self-opinion and outlook really positive or negative?(->Love and accept yourself)
Do I have a firm, unwavering belief in what I am doing and most importantly, WHY I am doing it?

---

The point I am throwing all these up is because without a firm foundation of self-confidence, positive outlook, discipline, focus and general health, you will not be able to reflect positively on yourself or your surroundings.

You are what you BELIEVE.
(The simplest example being is that if you feel good, you feel good - you're somehow stronger, more fit and generally robust. But if you're depressed or anxious you will suffer from headaches, stomach aches, back pain, bladder problems and so forth. These are physical consequences from emotional beliefs - that alone should be shocking enough when we realize this.)

This is why you need to love and accept yourself first and foremost. You will always be the first and last one to believe in you, even when nobody else will.

--

The first thing anyone needs for anything is knowing where one starts from, where one wants to go and why one wants to get there.

Without direction, how would one ever know how to start?

Without belief, how would one keep faith during hardship? (and I mean this in the most non-religious way possible, I am talking about one's own beliefs)

Without goals, how would know you whether you are reaching them?

Without yourself, who is going to be living your life?


So what I am trying to say is - find yourself, your reasons, your whys and your whats. Establish belief in yourself and do it for a reason.
While you still have any limiting or negative belief in you, you will always be hindered by it.

Accept that your are free, but also realize that this means freeing yourself, too.
Everyone is already telling you who you are and supposed to be.
Ignore it and ask and (find and) answer yourself, instead of being told.

Pursue what you want and always know your reason(s).

Don't doubt; examine, realize and better yourself.
Don't be anxious; realize, frame and adjust yourself. Accept yourself when being afraid for a reason, but don't submit to anxiety.
Don't despair; realize you are mortal, that at any given moment it is up to YOU to choose what to feel in this very moment and that any second you can do whatever you want
(Remember: all you need to do to raise your hand is to WANT to raise your hand and then - do it. From this basic insight to anything remotely thinkable, the logic remains the same. In the end, all it takes to do something, is to do it...)


I'm going to stop here before this turns into a self-help/existencialistic/whatever novel.

I do believe these things are important. I do believe these things are sometimes hard to do (being honest to oneself and getting to real roots and insights is sometimes harder for some because of various factors) but that these are all essential in ones life.

And so as not to end this on too heavy a note - life is also light, after all -

And here I am now wondering whether "chi" is modern for virginity or good health, considering the location


Take care,

SeekingLight

Edit: changed "You" into "I" form, you can ask yourself better even while reading already.
It's all very rough and a bit incomplete, but I wrote this before breakfast and normally this would be a face to face conversation with the person involved. But I think you get an idea of what I am on about.

hello wizard,

I only just saw your post after seekinglight responded to you. I just want to say sorry about your situation, don't let this bring you down, cause that will not help you move forward. People looking to trade and earn and live off their trading are in for a big surprise if not done properly. Any of the guys on this forum will tell you, it took a lot of time, and a good amount of them probably blew their accounts at first(not saying you have to blow an account or anything like that). Basically my point is take things slow, don't try to trade with money you need to survive. Especially when you are in a circumstance for trying to pay bills and live off. This is letting your dreams get ahead of your brain.

I am going to equate this to poker, because this is where I earned my living for 4 years. When I first started out I deposited 50$ into a site, and lost it . Went up a bit then down then up but learned a lot along the way. I didn't depend on that 50$ to live off. It was only my first step into something I enjoyed. Slowly I began to learn to really play the game. The next time i deposited that money grew (slow but grew non the less). Meanwhile I still had a job, and did all the things I needed to. I wasn't about to take the 5,000 in my bank account and go to the higher tables. Slowly I really learned the game, and realized I could make a living(for a college kid) at the tables. Then I deposited a little more money. My friend on the other hand, began to see me winning quite a bit of money, and said it's just poker I watch it on tv, play with you etc etc. Deposited over a grand, and proceeded to lose it within days.

My point is to always do things logically. I have met many people who think they are going to quit their jobs with a $1,000 account in forex. I am not sure how much money you lost, but at least you can recognize your mistake, and now you MUST move forward. BTW you are no were near the first and you surely won't be the last. Take all you have learned and learn to trade consistently on a demo like YOU said. Then prove it to yourself on a micro account. Then a mini. You sound like a young guy, time is on your side too

Head up!

Best to you,
Mike

Hi wiz,
thought i would add to the flow of love in your general direction.
Good advice your getting here and I would like to share something that helped me greatly and has become a mantra whenever i am not following the method or getting off plan.
I had great difficulty in accepting the fact that I have been blessed with a great method and opportunity to learn how to use it to gresat profit. I continued to trade intraday/scalp at will and genrally gamble my arse off whilst watching my colleagues reap the pips and the charts fullfill their prophesy.
it was this video, strange as it may seem that actually propelled me to stop fooling about.
hope it helps www.youtube.com/watch?v=u3cPtf2oyjY&NR
Best wishes
Swami S