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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

  • #33,421
  • Jun 15, 2009 12:30pm Jun 15, 2009 12:30pm
Quoting SeekingLight
Some might say all you're doing with randomizing your risk is randomizing your equity curve and chance of kicking yourself in the groin in the end.

Another way to think about these things:
Any setup you trade should be high enough grade to warrant your normal risk % in the first place, no?
Taking trades that seem so iffy that they're worth less risk in the first place runs risk of feeling a little like "I can't just have ALL winners, I deserve some punishment sometimes".

I mean, what ARE we saying to ourselves when we put money on substandard...
This is the post I thought you were talking about...sorry 'bout that.

Josh
  • #33,422
  • Jun 15, 2009 12:44pm Jun 15, 2009 12:44pm
Quoting jarroo
Should have waited for the break of the 1.6300. #4 of James16's "This is Critical". That would have been a smarter play.
i wouldnt like to say, i didnt take the trade either but you have also posted this...

Quote
if we know its there, we have several choices
....im guessing your still in the trade and in profit so you must have have made some good decisions!?
jon
PATIENCE... DISCIPLINE
  • #33,423
  • Jun 15, 2009 1:02pm Jun 15, 2009 1:02pm
Quoting g_j_hook@yah
i wouldnt like to say, i didnt take the trade either but you have also posted this...


....im guessing your still in the trade and in profit so you must have have made some good decisions!?
jon
No, I'm not in it now, I got out with a very small loss. http://www.forexfactory.com/showpost...ostcount=33385

My Eur/Jpy Weekly I46B trade is making up for it. lol
Indicators show the past. Price Action "Indicates" the future.
  • #33,424
  • Edited 2:12pm Jun 15, 2009 1:21pm | Edited 2:12pm
Quoting jarroo
No, I'm not in it now, I got out with a very small loss. http://www.forexfactory.com/showpost...ostcount=33385

My Eur/Jpy Weekly I46B trade is making up for it. lol
1.6300 wasn't expressed as a strong support on D2 chart, that's why i decided to enter the trade before it was broken, but the round numbers should always be on the close watch for possible trouble, that's the key and im happy i didn't ignore it, I lost on that one as well but I'm satisfied anyway with the trade management.

And I'm sorry if I somehow manipulated your decision process Jarroo
  • #33,425
  • Jun 15, 2009 1:27pm Jun 15, 2009 1:27pm
Quoting datogio
1.6300 wasn't expressed as a strong support on D2 chart, that's why i decided to enter the trade before it was broken, but the round numbers should always be on the close watch for possible trouble, that's the key and im happy i didn't ignore it, I lost on that one ass well but I'm satisfied anyway with the trade management.

And I'm sorry if I somehow manipulated your decision process Jarroo
lol. We managed it perfectly in my book. It could have easly ran through the 1.6300. Since it didn't, we got out.
Indicators show the past. Price Action "Indicates" the future.
  • #33,426
  • Jun 15, 2009 1:31pm Jun 15, 2009 1:31pm
datogio,
nothing to feel sorry for..
jarroo is highly experienced.
he won't take a trade just because someone said so.
He is picky with his trades, much much more than we are.
He takes trades if he feels odds are stacked for him.
AND he knows losses are part of this business, & he manages losses by minimizing them as much as possible.
He knows these, WE all know these.

Next trade awaits us..
  • #33,427
  • Jun 15, 2009 1:32pm Jun 15, 2009 1:32pm
Quoting jarroo
lol. We managed it perfectly in my book. It could have easly ran through the 1.6300. Since it didn't, we got out.
I'm happy if my trade management is at least near to the rules in your book
  • #33,428
  • Jun 15, 2009 1:35pm Jun 15, 2009 1:35pm
Quoting supremeChaos
datogio,
nothing to feel sorry for..
jarroo is highly experienced.
he won't take a trade just because someone said so.
He is picky with his trades, much much more than we are.
He takes trades if he feels odds are stacked for him.
AND he knows losses are part of this business, & he manages losses by minimizing them as much as possible.
He knows these, WE all know these.

Next trade awaits us..
yep for sure my friend, there're unlimited number of successful trades waiting for us in the future
  • #33,429
  • Jun 15, 2009 1:35pm Jun 15, 2009 1:35pm
Quoting datogio
I'm happy if my trade management is at least near to the rules in your book
We are definitely on the same page, datogio.
Indicators show the past. Price Action "Indicates" the future.
  • #33,430
  • Jun 15, 2009 1:40pm Jun 15, 2009 1:40pm
Quoting jarroo
We are definitely on the same page, datogio.
wow
thanks to you and many other guys here.
thanks
  • #33,431
  • Jun 15, 2009 1:54pm Jun 15, 2009 1:54pm
Quoting supremeChaos
datogio,
nothing to feel sorry for..
jarroo is highly experienced.
he won't take a trade just because someone said so.
He is picky with his trades, much much more than we are.
He takes trades if he feels odds are stacked for him.
AND he knows losses are part of this business, & he manages losses by minimizing them as much as possible.
He knows these, WE all know these.

Next trade awaits us..
I like showing live trades (for good or bad) for people to see a different look. To put into action what we talk about here. People can learn from it, mold it to their own style or disregard it all together.


I wish I was available to do the Eur/Jpy Weekly I46B in real time. lol That would have been cool. But the Gpb/Usd trade was probably more beneficial, because it was a break even or small loss trade.
Indicators show the past. Price Action "Indicates" the future.
  • #33,432
  • Jun 15, 2009 2:14pm Jun 15, 2009 2:14pm
jarroo,
just saw your post...
very much agree, Sir!

i'm sure u didn't mind the small loss, as the eurjpy trade is digging a hole. lol
if current 134.20-134.60 area does not hold, then 131 - 132 area, then 129-130. lol

wins & losses, whichever u trade, i find beneficial. especially the wins, wherein u often post with "This is how we roll". lol it's sort of music to my ears


back to offline again...
(3.15AM Manila time)
  • #33,433
  • Jun 15, 2009 3:43pm Jun 15, 2009 3:43pm
hi

is there anybody, who trades 15 min charts with IB signals ? during london time ?

thanks igi
  • #33,434
  • Jun 15, 2009 4:34pm Jun 15, 2009 4:34pm
Hi all,

What is an I46B? I know what an Inside Bar is but I don't know this one. I feel that I should know the answer, but maybe I missed school that day.

Thanks,
Rubin

Quoting jarroo
I like showing live trades (for good or bad) for people to see a different look. To put into action what we talk about here. People can learn from it, mold it to their own style or disregard it all together.


I wish I was available to do the Eur/Jpy Weekly I46B in real time. lol That would have been cool. But the Gpb/Usd trade was probably more beneficial, because it was a break even or small loss trade.
  • #33,435
  • Jun 15, 2009 4:45pm Jun 15, 2009 4:45pm
Quoting gorubin
Hi all,

What is an I46B? I know what an Inside Bar is but I don't know this one. I feel that I should know the answer, but maybe I missed school that day.

Thanks,
Rubin
Hey rubin

This is just an inside bar that has a range smaller then the previous X amount of bars. So an I4b is the fourth bar and has a smaller range then the previous 3 bars. You can have any number insid bar. Like I5b I6b ec.

Best
Mike
  • #33,436
  • Jun 15, 2009 4:56pm Jun 15, 2009 4:56pm
Thanks Mike. So I46B means it has a smaller range than the previous 46 bars...wow? that's a lot of bars...


Quoting mbqb11
Hey rubin

This is just an inside bar that has a range smaller then the previous X amount of bars. So an I4b is the fourth bar and has a smaller range then the previous 3 bars. You can have any number insid bar. Like I5b I6b ec.

Best
Mike
  • #33,437
  • Jun 15, 2009 5:04pm Jun 15, 2009 5:04pm
6 bars is wat they were talking, not 46
  • #33,438
  • Jun 15, 2009 5:10pm Jun 15, 2009 5:10pm
Quoting Mr Smith
6 bars is wat they were talking, not 46
Actually, mad though it may seem, that was an I46B...smaller than the 46 previous bars.
  • #33,439
  • Jun 15, 2009 5:20pm Jun 15, 2009 5:20pm
Quoting gorubin
Thanks Mike. So I46B means it has a smaller range than the previous 46 bars...wow? that's a lot of bars...
Yep, and a follow up post now that I am back to my computer.

What this means is simple. Ranges are decreasing over X amount of bars, which means price is consolidating, which means the likelihood to see a bigger breakout move increases(in general). So the idea is to find and get in on the breakout move where price finally breaks out of the decreasing daily range trap

Mike
  • #33,440
  • Jun 15, 2009 5:36pm Jun 15, 2009 5:36pm
Quoting TiaForex
Actually, mad though it may seem, that was an I46B...smaller than the 46 previous bars.
HOly crap, are u serious, that is wild
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