james16 Chart Thread | Page 1620 | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

Where can I learn more about Price Action like those in James16 charts? 9 replies

Attachments: james16 Chart Thread
Exit Attachments

james16 Chart Thread

  • #32,381
  • Jun 5, 2009 5:31am Jun 5, 2009 5:31am
Quoting ghous
See now that' is what happens in times of traffic,

Somebody posts something up for discussion and multiple posts with the same point pop up with a hardly a minute between them

Ofcaorse that's what's best too. lol!

You almost beat me to it Jon.

you gotta be fast thats for sure!(by the time iv typed 3 words you,mike,chaos AND jarro have all replied!! i should save my fingers!
ghous your a star!
PATIENCE... DISCIPLINE
  • #32,382
  • Jun 5, 2009 6:05am Jun 5, 2009 6:05am
ok,gb/chf ..test time!1/3 off the table @ +38
same stop, below the bar but im watching price closely and may well bail out on a strong failure
eu/gb small position from this morning, stop to 8821 locking in 15 pips hehe.
i feel these two are similar in that if they break the immediate sup/res they could fly a bit more, if it holds i think these trades are doomed for me!!
jon
hey Bakko did you take it??
PATIENCE... DISCIPLINE
  • #32,383
  • Jun 5, 2009 6:10am Jun 5, 2009 6:10am
Quoting g_j_hook@yah
ok,gb/chf ..test time!1/3 off the table @ +38
same stop, below the bar but im watching price closely and may well bail out on a strong failure
eu/gb small position from this morning, stop to 8821 locking in 15 pips hehe.
i feel these two are similar in that if they break the immediate sup/res they could fly a bit more, if it holds i think these trades are doomed for me!!
jon
hey Bakko did you take it??
i took the gbpchf, not the eurgbp!
1/2 off the table and the rest to BE, let's see if this can fly
  • #32,384
  • Edited 7:39am Jun 5, 2009 6:14am | Edited 7:39am
Quoting bakko85
i took the gbpchf, not the eurgbp!
1/2 off the table and the rest to BE, let's see if this can fly
looks to be doing just that!!??
jon
the more i look at the eu/gb pin the more i wish i had enterd more on the break!!

EDIT:2nd 1/3 off the table @ + 70ish
set the trailing stop to be at BE @73 if price gets there, which i hope will be enough room to stay in the move if it continues north.let it ride!!... its a FREE TRADE
eu/gb trailed with a 25 pip stop. it now locks in about 25 pips
EDIT: eu/gb stopped @ +37.(initial stop of 25 pips so im happy with that considering its friday
PATIENCE... DISCIPLINE
  • #32,385
  • Jun 5, 2009 7:55am Jun 5, 2009 7:55am
I was expecting a pullback, but was a hard break. BUMP-AND-RUN

Quoting ikki
I would like to see a pullback.
Attached Image (click to enlarge)
Click to Enlarge Name: usdjpy.gif Size: 28 KB
What does not kill me makes me stronger. Friedrich Nietzsche,
  • #32,386
  • Jun 5, 2009 8:25am Jun 5, 2009 8:25am
Still short eur/usd and gbp/usd... Looking to add this one to the shorts.
Attached Image (click to enlarge)
Click to Enlarge Name: eurjpy.jpg Size: 91 KB
Keep taking CT trades, I need more money
  • #32,387
  • Jun 5, 2009 8:30am Jun 5, 2009 8:30am
gb/chf...closed @ +160ish. ( happy that i put the 1.5% back in my sub acc. lol)Im now flat for the weekend.
BEER!!!!!!
then on to those weekly bars.
have good weekend yawl
jon
PATIENCE... DISCIPLINE
  • #32,388
  • Jun 5, 2009 8:41am Jun 5, 2009 8:41am
Here it's current Daily us Index, I think we going up next few day
Wounder where will close today!
All Comment r welcome
Thanks
Attached Image (click to enlarge)
Click to Enlarge Name: index.gif Size: 21 KB
  • #32,389
  • Jun 5, 2009 8:58am Jun 5, 2009 8:58am
Nice shorts Ryan...how long have you held these? Are you breaking a record?

Here's a nice Pin today on the GBP/USD 15M at 8:45am just after NFP. I didn't take it on demo because I don't think I would have taken it in real life because of the news. But 1:1 worked easily on this one (that was 94 pips of a 15M candle).

Also one question for you. Why do you have to work 15+ hours a day if you're trading lower time frames? Couldn't you work the NY session(or London) load up on your positions and call it a day at 12pm EST?

Rubin.


Quoting Ryanmcd
Still short eur/usd and gbp/usd... Looking to add this one to the shorts.
Attached Image (click to enlarge)
Click to Enlarge Name: mt_gbp.usd_6.5.09.gif Size: 6 KB
  • #32,390
  • Jun 5, 2009 9:08am Jun 5, 2009 9:08am
I have two zones. The first is a minor area, maybe could close today in that highs. and if cross that zone could close in the weekly PPZ (2)

Quoting egkid
Here it's current Daily us Index, I think we going up next few day
Wounder where will close today!
All Comment r welcome
Thanks
Attached Image (click to enlarge)
Click to Enlarge Name: usdlfx.gif Size: 22 KB
What does not kill me makes me stronger. Friedrich Nietzsche,
  • #32,391
  • Jun 5, 2009 9:16am Jun 5, 2009 9:16am
Quoting gorubin
Nice shorts Ryan...how long have you held these? Are you breaking a record?

Here's a nice Pin today on the GBP/USD 15M at 8:45am just after NFP. I didn't take it on demo because I don't think I would have taken it in real life because of the news. But 1:1 worked easily on this one (that was 94 pips of a 15M candle).

Also one question for you. Why do you have to work 15+ hours a day if you're trading lower time frames? Couldn't you work the NY session(or London) load up on your positions and call it a day at 12pm EST?

Rubin.

LOL ya I am kinda freaking out but I just keep watching them. I have the targets set to take me out so really nothing to do but watch.

I just got filled on the eur/jpy short and I guess I will just keep adding more trades to it as they come up. This will be the 1st weekend I am not flat in about 4-5 years

About the work thing, I just love it and enjoy looking at charts and going over past trades it's my job and it takes about 12+ hours a day. I will say I dono anyone in any field even Dr's that can pull down the same kind of money in 15 hours though so I don't feel bad. My goal is to be able to build into a few good trades and just keep them running, I knew starting out on 4hr / Daily would take some time to get a few trades in the works, I guess once you get them going you just pull money outa them.

I am doing 3 positions in each 4hr/ daily trade I take and just scale out of them. I do like the R:R on these as the last 33% can really run.
Keep taking CT trades, I need more money
  • #32,392
  • Jun 5, 2009 9:18am Jun 5, 2009 9:18am
Quote
Nice shorts Ryan...how long have you held these? Are you breaking a record?

ahhh sod the beer.short eu/yen
nice call Ryan it closed a beauty!+35 in 35 seconds hehe. i hope it lasts
jon
EDIT: added chart, its a bit old now so sos for the mess
Attached Image(s) (click to enlarge)
Click to Enlarge Name: weekly.jpg Size: 106 KB
Click to Enlarge Name: 4 hour.jpg Size: 144 KB
PATIENCE... DISCIPLINE
  • #32,393
  • Edited 1:02pm Jun 5, 2009 9:21am | Edited 1:02pm
  •  LSs
  • | Joined Jan 2009 | Status: I switched to the smarter side | 84 Posts
Hi seniors,

I encounter an idea from discussing with other trader regarding entering on a smaller TF.

Eg.

1st chart (4H), we have a very close IB, and it is at swing high and a break signaled us to enter short.

2nd chart (1H), same chart only smaller time frame, we see a candle breaking the line with a close confirmation.

So, would like to hear opinions on how advisable to perform as such ( identifying PA in H4 and entering on H1). Note that the 30pips breakeven rule is applied though.

Would really clear out some thoughts here



LSs
Attached Image(s) (click to enlarge)
Click to Enlarge Name: 4h(ib).gif Size: 15 KB
Click to Enlarge Name: 1h(ib).gif Size: 17 KB
  • #32,394
  • Jun 5, 2009 9:22am Jun 5, 2009 9:22am
Hi Marco,

I had these same questions so I'm glad you brought them up.

From what I understand from reading this thread for many months Jim's style could best be characterized as a manual trailing stop that is even initially very tight. What this produces is many B/E trades because a lot of trades do move 30-50 pips so you're automatically at B/E and this could be a lot of trades. The ones that move to 150 you automatically have a large profit which you never let escape or turn into a loss. The minority of your trades will be the -30. So there you have a nice equity curve.

One problem for me is that it's very hard to simulate someone else's move to B/E (that is done manually). I'm pondering whether using a Broker based variable Trailing Stop (variable based on Pair, conditions and volatility) would be a good idea in order to avoid moving stops manually. If anyone has done any reasearch on that I would welcome it. If not I'll go back to my testing station (not trading station :-) and do some work.

Regarding the dollar amounts I believe that the more Net $ you trade the more the Net $ drawdown hurts so an obvious response would be to minimize the time in the markets and minimize your drawdowns. Thus the term "daytrade of daily charts". The time in the market is small but accuracy can be high because of the daily time frame.

Just my thoughts...
Rubin.


Quoting Marco
Hey Jim,

got a question to that chart and your trade in the USD/CAD.

If I got it right you traded it like this:

- You went long at a break of the high of the pinbar and set your SL below the pinbar. You had then an inital risk of around 15k.
- Trade came back quickly you couldn't move to breakeven or take profits
- You took a 30 pip SL, or 3k as you said because as you say you couldn't take more risk/drawdown/losses which I understand because 3k is already a lot of money.

Now my question is why don't you set your stoploss at those 30 pips right...
  • #32,395
  • Edited 10:31am Jun 5, 2009 9:28am | Edited 10:31am
Posting this a little late sorry.

Trade: Short two positions at 1% acct risk each entry short @97.71 (break of one hr pin) Total risk is 2%. Potential Reward is slightly over 2%.
Stop Loss: Initial at 98.24
Management Strategy: when price reaches 97.31 move SL of second position to BE and take profit on 1st. Second TP will be 97.00
Price Action/Confluence: Pin off round# and resistance after NFP run up.

K.I.S.S.
Attached Image (click to enlarge)
Click to Enlarge Name: usdjpy.gif Size: 63 KB
  • #32,396
  • Jun 5, 2009 9:38am Jun 5, 2009 9:38am
Quoting jarroo
Here's the multi time frame Moving Average. With some details. Let me know if you need help with it.



[left]Time Frame _M1 1
Time frame_M5 5
Time Frame_M15 15
Time Frame_M30 30
Time Frame_H1 60
Time Frame_H4 240
Time Frame_D1 1440
Time Frame_W1 10080
Time Frame_MN1 43200
You must use the numeric value of the time frame that you want to use
when you set the Time Frame' value with the indicator inputs.
---------------------------------------
ma__shift PRICE_CLOSE...

I'm just wondering if James's son would use this....
  • #32,397
  • Jun 5, 2009 9:50am Jun 5, 2009 9:50am
Quoting g_j_hook@yah

ahhh sod the beer.short eu/yen
nice call Ryan it closed a beauty!+35 in 35 seconds hehe. i hope it lasts
jon
EDIT: added chart, its a bit old now so sos for the mess

Hmm, if you got into this short you stop was about 260 pips, what if it went the wrong way? That is why I have to trade it a longer time think about this. When I trading the 5min sometimes it takes 20+ bars to finish, in 4hr terms thats about 4 days, now with the 2d PB that could be 15-20 days. When I trade I watch time as well not just price.

You may do okay getting 30-40 here and there but what if it run the wrong way do you take that 200 pip lost that killed you last 5 winners?
Keep taking CT trades, I need more money
  • #32,398
  • Jun 5, 2009 10:19am Jun 5, 2009 10:19am
Quoting KissFan
Trade: Short two positions at 1% acct risk each entry short @1.4086 (break of two day pin) Total risk is 2%. Potential Reward is 5.3%.
Stop Loss: Initial at 1.4260
Management Strategy: when price reaches 1.4052 move SL to 1.4120. First TP will be 1.3892 and will move SL to BE. Second TP target will be the 1.3750 area (around the 365 ema).
[size=3][font=Calibri]Price Action/Confluence: 48 hr Pin at swing high/off...
SL moved on two positions to 1.4120.
Attached Image (click to enlarge)
Click to Enlarge Name: eurousd.gif Size: 67 KB
  • #32,399
  • Jun 5, 2009 10:26am Jun 5, 2009 10:26am
Quoting KissFan
SL moved on two positions to 1.4120.

Nice update and I see you moved the stop right upto resistance now. What I am going to play on doing is not moving the stops until I get T1 hit just to give it room, remember we where upside down all day yesterday in this at least I was lol and I dont want to move the stop and get screwed and watch it sell off more.

Will I let a +120 on 3 positions goto a loss? No way, but I also want to just keep a eye on it and see what happens. My T1 is 1.3700 and I plan on waiting upto 10 days to see if it hits, my guess is yes but we will get a pullback or two not just a big selloff into that area.
Keep taking CT trades, I need more money
  • #32,400
  • Jun 5, 2009 10:31am Jun 5, 2009 10:31am
Quoting Ryanmcd
Nice update and I see you moved the stop right upto resistance now. What I am going to play on doing is not moving the stops until I get T1 hit just to give it room, remember we where upside down all day yesterday in this at least I was lol and I dont want to move the stop and get screwed and watch it sell off more.

Well I let a +120 on 3 positions goto a loss? No way, but I also want to just keep a eye on it and see what happens. My T1 is 1.3700 and I plan on waiting upto 10 days to see if it hits, my guess is yes but we will get a pullback or...
Seems like a sound way to manage this one to me. We all will do it a little differently Ryan. For some reason, my trade didn't get executed until today (this morning after NFP). Weird, but now that I look back, I see where 1.4086 was breached yesterday.

K.I.S.S.
180 traders viewing now