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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

  • #30,861
  • May 24, 2009 7:27am May 24, 2009 7:27am
Quoting eswap0
Hi everybody!
Sorry if this post shouldn't be posted here: if it's the case, just tell me to move it to the suitable place.
I am reading "Trading in the zone", by Mark Douglas, since I got a recomendation in this thread: I am really enjoying it, and realizing (once again) how important is to achieve a mental training before jumping to the arena.
My question is: I have a 13 years old son. As most of his age mates, he is really skilled in computers, net games, etc and, as he is excellent in studies, he's got free time to play.
I am thinking about...
HI, Good luck and please keep us posted as to how well he does. I know of a few children whose fathers taught them to trade stocks from around your sons age and these children grew up with an incredible knowledge and appreciation of money. I've actually been thinking along the same lines to teach my fiance's son who is the same age as yours.
  • #30,862
  • May 24, 2009 7:42am May 24, 2009 7:42am
Quoting albchr
I would like to stress the importance of these statements made by Tia. I'm now "almost" finished with reading this entire thread for the second time. When I'm done, I'll start my third time because you don't learn to hit home runs by swinging the bat once or twice. I'm a fairly quick study but on my second read through I've up picked points I missed and reinforced ones I didn't. I'm sure the third and fourth times through will prove to be no different.

Like many I'm sure, when I was first pointed to this thread (THANKS RANDY!!) roughly two months...
It sounds like you have had it fairly rough there m8. I understand your passion and am glad to see someone so motivated. This thread is an amazing thread and the longevity and the imput (regular as clock work) from so many 10K players and those also who may not have that credit but still post charts, trades and supporting info is a key to the fact that this thread will be around for so long.

The difference is that the core concepts of this thread are based on simple trading and the teachings of simple trading. Whilst there are traders with indicators and some charts that may make Picasso abstract imput look like mear straight lines on a blank canvas, the core values are it simplicity.

I believe that the traders who have the desire to trade for a reason that is beyond greed and irrational margins can succeed. The fact that you have so far done, what 95% of fail traders havent, in actually taking time to read, learn something, not only once but multiple time, puts you ahead of them. Learning and understanding is a reason why so many fail, because Learning and understanding takes time. It take time to absorb and unlock new visions to give your mind more sight into whatever it may be, in this case techinical trading. Trading takes time, patience and an understanding that cannot always be read and interpretted in books, but in practising. Practising something that may not always work but if stuck to with discipline can see great results.

Time is everything and if you have time, then your trading will see you develope, evolve and possibly prosper where those who look for the quick ins and outs merely provide you with your liquidity.

95% of people fail in this business. A big part of it is because they fail to see it as a business. Seeing as you have been there and done that, and your 16 hours, 6 days a week is testiment, then you understand that nothing in life comes quickly (to a very very minute population it may) and the name of the game is to outlast.

My hopes are with you and I wish you and your family the best for the future. May we see you in these forums in the future, understand, Developing and Prospering.

Take care friend

Razor
  • #30,863
  • May 24, 2009 7:59am May 24, 2009 7:59am
Quoting eswap0
Hi everybody!
Sorry if this post shouldn't be posted here: if it's the case, just tell me to move it to the suitable place.
I am reading "Trading in the zone", by Mark Douglas, since I got a recomendation in this thread: I am really enjoying it, and realizing (once again) how important is to achieve a mental training before jumping to the arena.
My question is: I have a 13 years old son. As most of his age mates, he is really skilled in computers, net games, etc and, as he is excellent in studies, he's got free time to play.
I am thinking about...
It too me, is one of the most important things one can teach there children. In times like now, when jobs are more or less harder to come by, when so much of the blue collar labour is being exported for cheaper labour, everything about trading (all forms) seems rational to pass on.
I dont see things getting much better. Most of our educational (public) institutions are under staffed, under funded and those in the profession are under paided that things are spiralling out of control. In Australia the Private schools get bulk funding, even though there tuition fees are rediculous whilst the public funded schools are the complete opposite. The benchmark test score differential is mind blowing and there are now more student per teacher than any time in the past. Rural areas are worse.

So the questions remain about how will your childrens education help them when they reach that point, and if its not enough due you see them slog it out for the rest of there lives.

My old man is currently 60ish. He was forced to work from 14 to support his family and has never held a high paid job, usually working anywhere up to 16 to 18 hours 7 days a week. His superannuation is not worth dirt and he is now getting close to a point where he could be sacked for being too old. What a shit life... However he always found time for us. That is part of my motivation to succeed. It is part of my motivation to pass onto my children, what ever I can to give them the best possible head start in life.

If your son/daughter can learn to trade, especially from a young age then they stand a chance, perhaps not necessarily to trade full time, but to have that option to trade for what ever it may be.

While not a big fan of it, Rich Dad Poor Dad was a pretty good read from Robert Kiyosaki because it outlines an importance to learn things like this from a young age to help avoid the rat race. Trillions of dollars a day, there is plenty of liquid for young ones to enjoy if they choose this path.

Take Care
  • #30,864
  • May 24, 2009 8:22am May 24, 2009 8:22am
Quote
Originally Posted by albchr http://www.forexfactory.com/images/buttons/viewpost.gif
Going live this week guys. Wish me luck and a HUGE THANKS to all of you!!
Bonjour albchr,

You have been studying seriously all the material and learning many times the entire thread. I mean that you put all the odds on your side to success in this business and you can be proud of that !!

Be patient and disciplined and let the market comes to you. I mean wait for the most obvious set-up at Monthly/Weekly and Daily PPZ.
Keep your trading simple : i mean get a trading plan/check list truly easy to follow and apply and everything will be okay !!

Go ahead my friend, you're not alone because I'm with you !!

My best to you,

God bless you and your family,

Angel
  • #30,865
  • May 24, 2009 8:46am May 24, 2009 8:46am
Quoting ChartChecker
A PB is not always the right side of the equation...?
not sure by what you mean here but if it was that easy even i would be rich!!
the pin bar you have indicated formed above strong sup. and when price broke the pin low thats what stopped it. i dont think there were too many suprises. price did give the trader about 70-80 pips to move his/her stop or take profits, so neither did it fail imo.one thing i also noticed is that there was a lot of noise around the bar,bar highs/lows, nor was it at a good swing high.
just my view
cheers
jon
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PATIENCE... DISCIPLINE
  • #30,866
  • May 24, 2009 9:13am May 24, 2009 9:13am
Going live this week guys. Wish me luck and a HUGE THANKS to all of you!![/quote]


Well albchr congratulation on going live and I wish you and your family much success. You have done your home work and I believe have earned where you are today. I am into my second month of trading demo with the J16 group. After 3 years of the emotional roller coaster of trading I am now sticking to the J16 rules and with more consistent success than I have seen in 3 years. I look forward to following your success of live trading . Again good luck albchr
  • #30,867
  • May 24, 2009 9:43am May 24, 2009 9:43am
  •  krue
  • | Joined Mar 2008 | Status: finger scares cat, power of illusio | 410 Posts
kids see things differently, i guess he will be doing outstanding, and quite possibly make his trading successful much quicker than majority of us.



Quoting eswap0
Hi everybody!
Sorry if this post shouldn't be posted here: if it's the case, just tell me to move it to the suitable place.
I am reading "Trading in the zone", by Mark Douglas, since I got a recomendation in this thread: I am really enjoying it, and realizing (once again) how important is to achieve a mental training before jumping to the arena.
My question is: I have a 13 years old son. As most of his age mates, he is really skilled in computers, net games, etc and, as he is excellent in studies, he's got free time to play.
I am thinking about...
  • #30,868
  • May 24, 2009 10:04am May 24, 2009 10:04am
Can anyone see any opportunity realated to james16 stratgey can say it here ?

I have Qustion does james use MACD , and wich moving averages he use and how he use them?
thanks
The million dollar man Alkhatarey
  • #30,869
  • May 24, 2009 10:08am May 24, 2009 10:08am
Quoting alkhatarey
Can anyone see any opportunity realated to james16 stratgey can say it here ?

I have Qustion does james use MACD , and wich moving averages he use and how he use them?
thanks
The short answer is yes, he uses MACD. Go to James16's profile and click on "posts". You will see dozens of charts that answer your qestions more precisely.

K.I.S.S.
  • #30,870
  • May 24, 2009 10:25am May 24, 2009 10:25am
Quoting albchr
I would like to stress the importance of these statements made by Tia. I'm now "almost" finished with reading this entire thread for the second time. When I'm done, I'll start my third time because you don't learn to hit home runs by swinging the bat once or twice. I'm a fairly quick study but on my second read through I've up picked points I missed and reinforced ones I didn't. I'm sure the third and fourth times through will prove to be no different.

Like many I'm sure, when I was first pointed to this thread (THANKS RANDY!!) roughly two...
Good luck, reading the thread requires a lot of time and commitment, so you have put in the work required. I would love to get a paper version of the thread to read on holiday where you can make notes and stuff. Wonder how many pages on paper it would be, or should I say how many toner catridges.
Economists have forecast 9 out of the last 5 recessions
  • #30,871
  • May 24, 2009 12:35pm May 24, 2009 12:35pm
I have just finish reading the first 50 pages of this tread its very educational........i must say i have learn alot and have most of my questions answered.
  • #30,872
  • May 24, 2009 12:47pm May 24, 2009 12:47pm
Trying to apply my understanding of the different bars........looking at the H4 GBP/USD chart i see a double inside bar at monthly pivot which would indicate an opportunity to sell at the break of the first inside bar.
I wouldreally apreciate the input from anyone.
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  • #30,873
  • May 24, 2009 12:59pm May 24, 2009 12:59pm
Quoting row
Trying to apply my understanding of the different bars........looking at the H4 GBP/USD chart i see a double inside bar at monthly pivot which would indicate an opportunity to sell at the break of the first inside bar.
I wouldreally apreciate the input from anyone.
What you are saying is right but pear in mind :

 

  1. First you will take it Aganist the trend and the first resistance at the 38 fib
  2. second the price made the same 2 highs and if the price broke them this would be good indicator that the price likely to continue
  3. there is an OB ''out side bar '' on the Weekly chart and if the price break this high the price will continue moving up


Hope this helps

The million dollar man Alkhatarey
  • #30,874
  • May 24, 2009 1:40pm May 24, 2009 1:40pm
hey guys

please i need answer from older traders on this thread

 

  1. What kind of moving average james use 365 and 150 ema on the daily chart as support and Resistance?
  2. does he us Macd for Divergince?
  3. Does anyone has pdf for all the thread because this could help allot?


Guys its quick answers there is 9500 pic i have to watch to know the answer , i saw that he uses moving average but what kind of MA's i dont know

Thanks for your help guys

The million dollar man Alkhatarey
  • #30,875
  • May 24, 2009 1:46pm May 24, 2009 1:46pm
Quoting alkhatarey
hey guys

please i need answer from older traders on this thread

 

  1. What kind of moving average james use 365 and 150 ema on the daily chart as support and Resistance?
  2. does he us Macd for Divergince?
  3. Does anyone has pdf for all the thread because this could help allot?


Guys its quick answers there is 9500 pic i have to watch to know the answer , i saw that he uses moving average but what kind of MA's i dont know

Thanks for your help guys

He uses 365 and 150 on close, yes only as support and resistance. Yes MACD for divergence. There is not PDF for the thread but see this link where Josh has collated a lot of the posts into categories which is helpful. I dont see why a PDF would be easier?
Economists have forecast 9 out of the last 5 recessions
  • #30,876
  • May 24, 2009 2:01pm May 24, 2009 2:01pm
Hi all,
Is anybody looking at the 2 day Pin on UJ?
Seems to be bouncing off a good bit of support, with the 50 fib close by too.
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  • #30,877
  • May 24, 2009 2:10pm May 24, 2009 2:10pm
Hello guys again,

just looking at the daily chart on USD/CAD and wanted to ask if this bar (marked on the screen) is a "Pin Bar" and even might be a good entry?

http://chloe.qenx.com/pinbar.gif

thanks for help
  • #30,878
  • May 24, 2009 2:33pm May 24, 2009 2:33pm
Quoting lddd
Hello guys again,

just looking at the daily chart on USD/CAD and wanted to ask if this bar (marked on the screen) is a "Pin Bar" and even might be a good entry?

http://chloe.qenx.com/pinbar.gif

thanks for help
Hi there
You'd need the close of the bar to be higher than the open of that bar in order for it to be a PinBar.
  • #30,879
  • May 24, 2009 2:39pm May 24, 2009 2:39pm
1.1190 was the low before the last upmove in a big timeframe ( nov.1991 - jan.2001)...we are at 100% retracementarea....maybe it can change here the trend again..it dropped before to 138.2% retracement...pushed up to 61.8%...what will happen now...161.8% or 38.2%?
  • #30,880
  • May 24, 2009 2:57pm May 24, 2009 2:57pm
Quoting Interceptor
Hi there
You'd need the close of the bar to be higher than the open of that bar in order for it to be a PinBar.
aaaah, ok :-)

but itīs in a swing low, am i right ?
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