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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

  • #31,481
  • May 29, 2009 1:57am May 29, 2009 1:57am
Quoting aLLerGic
Hi all,

I just want to share my trading result since using James16 Method. It's a small account, but Im very happy of it. No indicator involved in this trading mission. LOL


aLLerGic of Studying
That's it aLLerGic!

Keep Rocking

ALM
"""" --- -- - << ..:: ALM ::.. >> - -- --- """"
  • #31,482
  • May 29, 2009 1:57am May 29, 2009 1:57am
WHOOHOOOOOOO!!%#$@
oanda has a trailing stop!!!! YEEESSSSSS!!!!
about bloody time!
just a note to those looking to short the gb/chf...this is just my observation but a strong gb usually will hold the gb/chf up a bit.
jon
PATIENCE... DISCIPLINE
  • #31,483
  • May 29, 2009 1:59am May 29, 2009 1:59am
Quoting pdean123
At the time of this pin bar there was a confirming Reversal on RSI with a target of 80.56. RSI is still in the ascending channel of RSI.
hi pdean, how do you determine the targets from divergence ?
cheers
jon
PATIENCE... DISCIPLINE
  • #31,484
  • May 29, 2009 2:00am May 29, 2009 2:00am
Quoting g_j_hook@yah
WHOOHOOOOOOO!!%#$@
oanda has a trailing stop!!!! YEEESSSSSS!!!!
about bloody time!
just a note to those looking to short the gb/chf...this is just my observation but a strong gb usually will hold the gb/chf up a bit.
jon
Sweet, it's out of beta and live. Very cool.
Don't wish it were easier, wish you were better. ~ Jim Rohn
  • #31,485
  • Edited 2:19am May 29, 2009 2:00am | Edited 2:19am
Quoting aLLerGic
Hi all,

I just want to share my trading result since using James16 Method. It's a small account, but Im very happy of it. No indicator involved in this trading mission. LOL


aLLerGic of Studying
IMPRESSIVE !!
congrats
jon
EDIT: hey aLLerGic, iv just noticed that you have a lot of small wins which met there targets??e.g. eu/yen short at 132.31 TP @ 132.20. is this smaller TFs? or not letting them run too much? i was just thinking your results look like they could have provided much better returns??
cheers
PATIENCE... DISCIPLINE
  • #31,486
  • May 29, 2009 2:23am May 29, 2009 2:23am
Quoting g_j_hook@yah
IMPRESSIVE !!
congrats
jon
EDIT: hey aLLerGic, iv just noticed that you have a lot of small wins which met there targets??e.g. eu/yen short at 132.31 TP @ 132.20. is this smaller TFs? or not letting them run too much? i was just thinking your results look like they could have provided much better returns??
cheers
yeah , i was thinking the same thing.....
some of these trades cld hav been nice runners e.g. eurjpy
happy trading guys
Simplicity is the key to success
  • #31,487
  • May 29, 2009 2:36am May 29, 2009 2:36am
Quoting ephisi
Next restance 155.87(monthly 38.2%fib) no confluence. Confluence really starts at , 158.11(monthly ppz) , 160( weekly 50ema and round numb) . 161 (Upper Channel trendline) also in this confluence zone. confluence 158-161.

see how weekly R1 and daily pivot acted as support confluence


oops, just realized we got new daily R1 @ 156.14 and weekly R2 @ 156.38. There is good confluence.watching price action closely
  • #31,488
  • Edited 3:19am May 29, 2009 2:40am | Edited 3:19am
Quoting g_j_hook@yah
IMPRESSIVE !!
congrats
jon
EDIT: hey aLLerGic, iv just noticed that you have a lot of small wins which met there targets??e.g. eu/yen short at 132.31 TP @ 132.20. is this smaller TFs? or not letting them run too much? i was just thinking your results look like they could have provided much better returns??
cheers
Hi g_j_hook,
Im using daily Tf to enter and exit. I remember that time, im trying to use the trailing stop, but the result is that.
  • #31,489
  • May 29, 2009 3:03am May 29, 2009 3:03am
i see the NU has bounced off the daily 365EMA and upper trend line, and coming down to close as a possible 4H pin (close still a long way off for me though) I add there is 4H MACD divergence there too.

just some thoughts
  • #31,490
  • May 29, 2009 3:11am May 29, 2009 3:11am
Quoting aLLerGic
Hi g_j_hook,
Im using daily Tf to enter and exit. I remember that time, im trying to use the trailing stop, but the result is that.
ahha, yeah it can be tricky. i have found it best not to activate it untill you get into decent profits.?or keep it large enough to absorb the ave range of a few bars,(according to the TF your trading)if this is too far away initially put a hard stop also
nice results non the less. is this your first acc.?
PATIENCE... DISCIPLINE
  • #31,491
  • May 29, 2009 3:23am May 29, 2009 3:23am
Quoting g_j_hook@yah
ahha, yeah it can be tricky. i have found it best not to activate it untill you get into decent profits.?or keep it large enough to absorb the ave range of a few bars,(according to the TF your trading)if this is too far away initially put a hard stop also
nice results non the less. is this your first acc.?
lol, i have blow 3 account so far and now im back to demo. Now i dont want to fund it. Remember james16 minimum requirement?? 3 - 6 months in demo than will go to step 2.
  • #31,492
  • May 29, 2009 3:30am May 29, 2009 3:30am
Quoting aLLerGic
lol, i have blow 3 account so far and now im back to demo. Now i dont want to fund it. Remember james16 minimum requirement?? 3 - 6 months in demo than will go to step 2.
lol..
im sure he will be the first to agree, thats a MINIMUM requirement
you must be doing something right though mate.
good luck.
jon
PATIENCE... DISCIPLINE
  • #31,493
  • May 29, 2009 4:42am May 29, 2009 4:42am
I took that pin on GBP USD which had fib confluence Looks like its been blown out of the water....how do you guys resist the temptation to move your stop saying to yourself "its going to turn around any minute now" Just to get back a bit of your loss.
  • #31,494
  • May 29, 2009 4:48am May 29, 2009 4:48am
Quoting aLLerGic
Hi all,

I just want to share my trading result since using James16 Method. It's a small account, but Im very happy of it. No indicator involved in this trading mission. LOL


aLLerGic of Studying

Amazing! You double your account size within one month .I wish I can make it,too!
  • #31,495
  • May 29, 2009 5:05am May 29, 2009 5:05am
Dont miss this puppy ...seek great price action around this in the smaller timeframes...

.8000 is key

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  • #31,496
  • May 29, 2009 5:12am May 29, 2009 5:12am
Quoting bfd
I took that pin on GBP USD which had fib confluence Looks like its been blown out of the water....how do you guys resist the temptation to move your stop saying to yourself "its going to turn around any minute now" Just to get back a bit of your loss.
I'm assuming you mean your stop loss at the top of the GBP/USD bearish pinbar. That temptation is part of the all-important subject of psychology. In the view of many great traders, psychology will determine your success, not your method/system of trading.

The best way I've found to avoid moving my stops (for or against the position) is to have a written plan for each trade. Write down your thoughts, where you expect price to move, where price could get stuck/reverse, where you'll move stops, take profits, etc. By having a written plan to follow, I'm less likely to change or deviate from my plan...

That doesn't mean it's easy though. I'm currently watching my AUD/CAD weekly trade move from black to red in my trading account. I could get out of the trade at Breakeven right now, but that is not part of my plan. I have accepted the risk of the trade, which is well within reasonable account limits.

I don't think psychological aspects of trading ever fully go away. I think they become easier to manage/ignore as a trader finds success from avoiding it though. I can only give you my opinion. Might work for you too...

In any case, the GBP/USD pinbar has been broken, which generally means - get out of the trade. The reason for placing the trade is no longer a valid one, which means there is no point having the trade in place.

Josh
  • #31,497
  • Edited 5:35am May 29, 2009 5:32am | Edited 5:35am
Morning everyone. For those of you who PM'd me to wish me good luck going live, I told you I'd keep you posted as I go. Well, here's my first trade so far. I actually didn't expect it to get quite this far but kept with it and managed it along the way.

A 3 part trade with 1/3 profit taken at each check mark. The top check mark was to be my final TP point but after seeing this mornings climb, I've decided to stay in and watch what happens. I'm not big on holding over the weekend (too new to this still) but I might just let this one ride if it doesn't stop me out.

I sat on my hands all week but this one looked nice to me. Other than scalping 67 pips from the GU ranging yesterday, This is the only trade I took this week.

Thanks everyone! Now I just need to reign in these "cocky" feelings so I don't do something stupid....
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Ghost Rider - WWTBMD?
  • #31,498
  • May 29, 2009 5:35am May 29, 2009 5:35am
Quoting albchr
Morning everyone. For those of you who PM'd me to wish me good luck going live, I told you I'd keep you posted as I go. Well, here's my first trade so far. I actually didn't expect it to get quite this far but kept with it and managed it along the way.

A 3 part trade with 1/3 profit taken at each check mark. The top check mark was to be my final TP point but after seeing this mornings climb, I've decided to stay in and watch what happens. I'm not big on holding over the weekend (too new to this still) but I might just let this one ride if it doesn't...
Nice Trade! Makes for an enjoyable weekend
  • #31,499
  • May 29, 2009 5:36am May 29, 2009 5:36am
Quoting Shermenator
Dont miss this puppy ...seek great price action around this in the smaller timeframes...

.8000 is key

Attachment
yup, already in it , and stop now at be +1 after taking half at +30 pips
waiting for the close of my next 4hr bar to trail my stops to lock in some more pips
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Simplicity is the key to success
  • #31,500
  • May 29, 2009 5:38am May 29, 2009 5:38am
Quoting Jduester
Nice Trade! Makes for an enjoyable weekend
Thanks Josh. This trade was in no small part a result of your example of dedication to dicipline and the sharing you've done with us here.

Thank YOU sir!!
Ghost Rider - WWTBMD?
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