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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

  • #32,941
  • Jun 9, 2009 7:49pm Jun 9, 2009 7:49pm
Quoting dkmb92
is "time of day" around the london open? (1hr before/1hr after?)
All the info is on the fist page.
http://www.forexfactory.com/showthread.php?t=86766
Don't wish it were easier, wish you were better. ~ Jim Rohn
  • #32,942
  • Jun 9, 2009 7:50pm Jun 9, 2009 7:50pm
Seems pa respecting 50fib so far going to watch 97 good level for pa clues
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  • #32,943
  • Jun 9, 2009 7:50pm Jun 9, 2009 7:50pm
Quoting jarroo
Due to my crazy schedule at times, I haven't been able to trade many DIBS trades. Lining up higher time frame trends with a DIBS trades have been very rewarding as of late.

Mainly the higher time frame picky PA setups (which Rules, by the way lol) have been my first love and more intuned with my current schedule.
Thanks for the reply Jarroo,
I get the busy schedule thing.I am there with you.Two young kids and a demanding day job.Good trading to you.
  • #32,944
  • Jun 9, 2009 8:05pm Jun 9, 2009 8:05pm
For those who like to play with fire
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  • #32,945
  • Jun 9, 2009 8:09pm Jun 9, 2009 8:09pm
Quoting LasVahGoose
All the info is on the fist page.
http://www.forexfactory.com/showthread.php?t=86766
i am sorry but i always get time zones & gmt confused. so is 0600 gmt 6am london time?
  • #32,946
  • Jun 9, 2009 8:21pm Jun 9, 2009 8:21pm
Quoting dkmb92
i am sorry but i always get time zones & gmt confused. so is 0600 gmt 6am london time?
The answer to this is yes, sometimes, but not now .

GMT stands for Greenwich Mean Time and is the time that London and the rest of the UK is on when not on British Summer Time, or BST. The UK is currently on BST which is GMT+1. When the clocks go backwards an hour at the end of the Summer the UK will revert to GMT.

However, people often use the expression "GMT" to describe the time in the UK regardless of the time of year because they don't know the difference between GMT and BST. Not helpful.

Hope that makes some sense.

Simon
  • #32,947
  • Jun 9, 2009 8:33pm Jun 9, 2009 8:33pm
Quoting AnimalHungry
The answer to this is yes, sometimes, but not now .

GMT stands for Greenwich Mean Time and is the time that London and the rest of the UK is on when not on British Summer Time, or BST. The UK is currently on BST which is GMT+1. When the clocks go backwards an hour at the end of the Summer the UK will revert to GMT.

However, people often use the expression "GMT" to describe the time in the UK regardless of the time of year because they don't know the difference between GMT and BST. Not helpful.

Hope that makes some sense.

Simon
so gmt 0:00 is 12 am london time? & during non-bst time 0600 gmt is 6 am london time? which would be 2 hrs before london open?
let me please just simplify this. what is "best time of day" for dibs in relation to london open (whatever time that may be?). thanku.
sorry for off topic post here.
  • #32,948
  • Jun 9, 2009 8:33pm Jun 9, 2009 8:33pm
Quoting dkmb92
i am sorry but i always get time zones & gmt confused. so is 0600 gmt 6am london time?
I bought two really cheap watches at the dollar store. My London watch is Red. My New York Watch is Blue. I used a sharpie to write "London" and "New York" on them. I cut off the straps and used velcro to mount them on my desk next to my computer.

I can't imagine how much actual cash that $2 investment has made/saved me by knowing when markets opened or news was coming up!
Mine?
  • #32,949
  • Jun 9, 2009 8:36pm Jun 9, 2009 8:36pm
Quoting 4fun
For those who like to play with fire

I feel the burn even looking at that chart ... especially for a short play.
  • #32,950
  • Jun 9, 2009 8:37pm Jun 9, 2009 8:37pm
Quoting Bilyb
I bought two really cheap watches at the dollar store. My London watch is Red. My New York Watch is Blue. I used a sharpie to write "London" and "New York" on them. I cut off the straps and used velcro to mount them on my desk next to my computer.

I can't imagine how much actual cash that $2 investment has made/saved me by knowing when markets opened or news was coming up!
funny, but doesnt answer simple question, thx.
  • #32,951
  • Jun 9, 2009 8:40pm Jun 9, 2009 8:40pm
Quoting dkmb92
is "time of day" around the london open? (1hr before/1hr after?)
Thanks LVG.

You need to refer to the DIBS thread for more information, dkmb. Many of your questions can be answered there. (many many times. lol)
Indicators show the past. Price Action "Indicates" the future.
  • #32,952
  • Jun 9, 2009 8:46pm Jun 9, 2009 8:46pm
Quoting jarroo
Thanks LVG.

You need to refer to the DIBS thread for more information, dkmb. Many of your questions can be answered there. (many many times. lol)
i read the dibs thread many months ago. but like you i favor j16. can i rephrase my question? if 0600 is "best time of day" for dibs, then what is the gmt time for london open? is it 0800 gmt? just looking for a simple answer here & then i will shut up, thx.
  • #32,953
  • Jun 9, 2009 8:50pm Jun 9, 2009 8:50pm
Quoting dkmb92
so gmt 0:00 is 12 am london time? & during non-bst time 0600 gmt is 6 am london time? which would be 2 hrs before london open?
let me please just simplify this. what is "best time of day" for dibs in relation to london open (whatever time that may be?). thanku.
sorry for off topic post here.
http://wwp.greenwichmeantime.com/

London is currently BST time, so it's now 2:48am. It will change to GMT (move back one hour) late October).
It's also 9:48pm in NY.
8:48pm in Chicago.
GMT is 1:48am.

Can't help you with DIBs question as I haven't read it yet.
  • #32,954
  • Jun 9, 2009 8:53pm Jun 9, 2009 8:53pm
Quoting TiaForex
I place stops above the nose, entry beyond the breach, one position with no partial profits.

I've tried a few other ways and this is the style I've settled on.

I also am pickier with my trades and look for longer runners. I use to take small profits but found that when a full loss came along that wiped away five winners it really got to me.

But there are many ways to skin a cat in this game. And it often balances out across many trades. Which is where I like to see my results from, not from the individual trade.
Tia and Others -

When you take PB trades like these and they do break in your favor and run, at what point or by what system do you move your SL as the trad progresses?

thanks
"Money is easy to make, but hard to keep" - FWV 1975
  • #32,955
  • Jun 9, 2009 8:53pm Jun 9, 2009 8:53pm
Quoting dkmb92
i read the dibs thread many months ago. but like you i favor j16. can i rephrase my question? if 0600 is "best time of day" for dibs, then what is the gmt time for london open? is it 0800 gmt? just looking for a simple answer here & then i will shut up, thx.
0600 GMT is 1:00 AM EST which is the "Open of the Day" for a DIBS trade.
Indicators show the past. Price Action "Indicates" the future.
  • #32,956
  • Jun 9, 2009 8:58pm Jun 9, 2009 8:58pm
http://forex.timezoneconverter.com/
  • #32,957
  • Jun 9, 2009 8:59pm Jun 9, 2009 8:59pm
Quoting dkmb92
funny, but doesnt answer simple question, thx.
I think it would be best to move the questions regarding DIBS to the DIBS forum.
Don't wish it were easier, wish you were better. ~ Jim Rohn
  • #32,958
  • Jun 9, 2009 9:01pm Jun 9, 2009 9:01pm
Quoting Alexandra
I feel the burn even looking at that chart ... especially for a short play.
No doubt hotter than my bar-b-que. Hey Alexandra you follow some of those yen pairs u watchin G/J at all?
  • #32,959
  • Jun 9, 2009 9:04pm Jun 9, 2009 9:04pm
Quoting jarroo
0600 GMT is 1:00 AM EST which is the "Open of the Day" for a DIBS trade.
so "open of the day" for dibs is 2 hrs before london open. got it, thanku.
  • #32,960
  • Jun 9, 2009 9:09pm Jun 9, 2009 9:09pm
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"The more I practice, the luckier I get." (Gary Player)
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