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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

  • #33,261
  • Edited 4:14pm Jun 12, 2009 3:54pm | Edited 4:14pm
Quoting raczekfx
... and my boys would've laughed at me if I missed the retest....

h.a.g.o
...lol i was one who who was wondering!
i went short at 6498
EDIT: whats h.a.g.o mean??
cheers
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PATIENCE... DISCIPLINE
  • #33,262
  • Jun 12, 2009 4:36pm Jun 12, 2009 4:36pm
Quoting Forex007
I kept asking Jarroo a year ago how did he see what I couldn't see, and how could he do (e.g. pass on a B trade) what I could not. He said "practice, practice, practice, and it will come" (J16 kept saying the same thing from Page 1 too). I followed that advice and "it" (the "A-ha!" moment) did come. THANK YOU, Jim, Jarroo and Mike (and other who helped me)!

P.S. A couple of losing days in a row when I took B trades, and a couple of more losing days in a row when I took B trades, and yet few more losing days in a row where I took B trades...
This is great 007! You kept going and going where others would just give up. Yet you Persevered. Just keep at it and it becomes easier. Almost boring.

I know, when I first heard that about profitable traders being bored, I couldn't believe it. But now I understand what they mean.

Great job . More "A-ha" moments await you.

Jim
Indicators show the past. Price Action "Indicates" the future.
  • #33,263
  • Jun 12, 2009 4:37pm Jun 12, 2009 4:37pm
first thing i did was look down to see if mike saw your post. lol.

welcome,

jim

Quoting joelcf
Hi guys,

Long time lurker (almost 2 years now), but never posted.

I originally started reading FF (along with some other forums) because I was pretty sceptical on tech analysis and charting in general - I work for a large institutional bank here (down under), have a finance and a commerce degree hanging on the wall, and a bookshelf full of Buffett and Ben Graham. But it seemed stupid to dismiss something without learning about it first.

The approach you guys have showed me (patience, prudence, confluence, pa) has really completely changed...
  • #33,264
  • Jun 12, 2009 4:41pm Jun 12, 2009 4:41pm
i love these.

these posts literally glow to me when i see them

jim

Quoting Forex007
I kept asking Jarroo a year ago how did he see what I couldn't see, and how could he do (e.g. pass on a B trade) what I could not. He said "practice, practice, practice, and it will come" (J16 kept saying the same thing from Page 1 too). I followed that advice and "it" (the "A-ha!" moment) did come. THANK YOU, Jim, Jarroo and Mike (and other who helped me)!

P.S. A couple of losing days in a row when I took B trades, and a couple of more losing days in a row when I took B trades, and yet few more losing days in a row where I took B trades...
  • #33,265
  • Jun 12, 2009 4:42pm Jun 12, 2009 4:42pm
the difference between the darkest night and the brightest day.

jim

Quoting fat_tom
Excellent posts about SL... I was wondering the same thing as Forex007.

I'm currently leaving SL pretty much but as I'm on a £200 account I'm not to worried about losses but I appreciate what J16 says - I'm sure its very different when your locking in £100s or £1000s as opposed to like 15p like me ;-)

thanks guys!!

Fat Tom
  • #33,266
  • Jun 12, 2009 4:45pm Jun 12, 2009 4:45pm
the battle for you guys now is not to get trigger happy.

the chances are virtually certain you will so when it happens just realise most all of us did it also.

jim

Quoting fat_tom
Yes I did!!!

oh well - still a good trade overall

happy with that...

now wheres the next daily pinbar......

  • #33,267
  • Jun 12, 2009 4:51pm Jun 12, 2009 4:51pm
Quoting james16
i love these.

these posts literally glow to me when i see them

jim

I got a little of that feel too, that you must get all the time.

And I'm just an extention from what I learned from you Jim (and Mike, etc.) So, there should be a little more glow in you, sir.

Jim
Indicators show the past. Price Action "Indicates" the future.
  • #33,268
  • Jun 12, 2009 4:54pm Jun 12, 2009 4:54pm
Hi jarroo,

Was wondering how you double inside bar testing was going?

Was wanting to do some further testing myself this weakened but now have family comitments.


With what you have so far, what do think the best trade management would be:

Half off at 1:1?

Move to stop to break- even after 1:1? (works good on other 4 hour bar trades)

2/3 off at 1:1?

Measure the break-bars performance?

Other?



Best regards

Dale
  • #33,269
  • Jun 12, 2009 5:00pm Jun 12, 2009 5:00pm
Quoting Dale
Hi jarroo,

Was wondering how you double inside bar testing was going?

Was wanting to do some further testing myself this weekened but now have family comitments.



Best regards

Dale
Very good. As you have said it seems to indicate a pause in activity or such. The reasons being . . . who knows. But lining them up with supporting confluences does seem to give them more wieght.

The testing continues.

Jim
Indicators show the past. Price Action "Indicates" the future.
  • #33,270
  • Jun 12, 2009 5:07pm Jun 12, 2009 5:07pm
Quoting Dale
Hi jarroo,


With what you have so far, what do think the best trade management would be:

Half off at 1:1?

Move to stop to break- even after 1:1? (works good on other 4 hour bar trades)

2/3 off at 1:1?

Measure the break-bars performance?

Other?



Best regards

Dale
I think all of thoses approaches would work great, once the criteria of a high quality 2IB is determined, i.e. location, PPZ level, Fibs, etc.

But you know me, measuring the break performance is the best confirming indication I like to use. It's what I practise and learn from on each setup.
Indicators show the past. Price Action "Indicates" the future.
  • #33,271
  • Jun 12, 2009 5:08pm Jun 12, 2009 5:08pm
hello guys
for some strange reason, havnt been able to post for 2wks or so, thought i was banned...kept on trying to no avail....oh! well hope this one goes through..
i kno i hav to post on june 17th (4 years anniversary)
a trade im looking into for next wk....(view chart)
cldnt even post my previous trades (most winnners...lol)
im sure u senior members must hav heard this a million plus one times but hav to say mine, THNX & GOD BLESS for the help uve given to us(BIG BIG IMPROVEMENTS, & more to come)
hate typing lengthy posts, let me cut it short here
cheers guys

edit: thank GOD, this post went thru
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Simplicity is the key to success
  • #33,272
  • Jun 12, 2009 5:22pm Jun 12, 2009 5:22pm
Quote
But you know me, measuring the break performance is the best confirming indication I like to use. It's what I practise and learn from on each setup.


I have been moving in that direction myself, been experimenting live with how much of the position I leave on based on the break- out bars performance.

Doing a forward test for now, will let you know latter how it turns out.


Best regards


Dale
  • #33,273
  • Jun 12, 2009 5:37pm Jun 12, 2009 5:37pm
The EC daily pin ala Racz (50/61.8%/ppz/PA)
It passed the 61.8% a little bit but it went exactly to the PPZ as expected.

Cheers

Matty
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  • #33,274
  • Jun 12, 2009 5:38pm Jun 12, 2009 5:38pm
Quoting jarroo
I think all of thoses approaches would work great, once the criteria of a high quality 2IB is determined, i.e. location, PPZ level, Fibs, etc.

But you know me, measuring the break performance is the best confirming indication I like to use. It's what I practise and learn from on each setup.
Hi Jim,

By break performance, do you me strong break and a pullback prior to initiating a position? Do you only look for Double Inside bars on 4hour charts and above? Many thanks,

Z
  • #33,275
  • Jun 12, 2009 5:39pm Jun 12, 2009 5:39pm
YOU SIR ARE WORTH YOUR WEIGHT IN GOLD TO ME.

i truly appreciate what you do here.

there are many of you here like that and i probably dont say it enough.

jim



Quoting jarroo
I got a little of that feel too, that you must get all the time.

And I'm just an extention from what I learned from you Jim (and Mike, etc.) So, there should be a little more glow in you, sir.

Jim
  • #33,276
  • Jun 12, 2009 5:41pm Jun 12, 2009 5:41pm
here is another guy that i owe a lot of thanks to.

jim

Quoting Matiasfx
The EC daily pin ala Racz (50/61.8%/ppz/PA)
It passed the 61.8% a little bit but it went exactly to the PPZ as expected.

Cheers

Matty
  • #33,277
  • Jun 12, 2009 5:42pm Jun 12, 2009 5:42pm
CHART
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  • #33,278
  • Jun 12, 2009 5:51pm Jun 12, 2009 5:51pm
Quoting Matiasfx
The EC daily pin ala Racz (50/61.8%/ppz/PA)
It passed the 61.8% a little bit but it went exactly to the PPZ as expected.

Cheers

Matty
nice
i tried this earlier this wk with the eurgbp & gbpchf daily pins...my only mistake was that i didnt look for pa (silly me), i jst simply set my limit order at the 38/50 fib ret with about 30pips sl which exceeded 61.8 fib
is dis ok, or i think looking for pa around 50/61.8 is the way forward
heres a chart
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Simplicity is the key to success
  • #33,279
  • Jun 12, 2009 5:52pm Jun 12, 2009 5:52pm
Quoting james16
here is another guy that i owe a lot of thanks to.

jim


Love ya, big boy!! And thank YOU!!

Have a great weekend!!!

Matty
  • #33,280
  • Jun 12, 2009 5:57pm Jun 12, 2009 5:57pm
Quoting squeezy
nice

is dis ok, or i think looking for pa around 50/61.8 is the way forward
heres a chart
You can play the touch (riskier) or wait for PA (more conservative), just depends on your style and risk managment. There is no rigth or wrong as long as u know what u are doing.

Just make sure u feel confortable and you test and practice a LOT before doing it with a live account.

Mat
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