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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

  • #33,541
  • Jun 16, 2009 11:22am Jun 16, 2009 11:22am
Quoting fat_tom
Mike,

Your right!! they've all changed significantly...

just wondering then when we all take our bar ends... I'm UK based (although part time trader) and I'm thinkin my bars will end at GMT so currently 11PM for me....
No worries Tom we have all had that questions.

The answer is there is NO official close time in forex b/c it is not a centralized market. So this means the bars open and close are based on your broker, so yes you can find a different broker with different closing times. I personally prefer one as close to the NY close as possible as I think it is logical. But in the end if you understand location and all that is most important it what make the most difference. I don't agree with having one too much later then a few hours after the NY close though as then you start including asia/Aus into that bar and that can very much skew the closing.

Hope that helps
Mike
  • #33,542
  • Jun 16, 2009 11:23am Jun 16, 2009 11:23am
Hi,

This is my first post here. Can somebody advise which is the best broker with regards to data feed for price action trading. I have my account with FXDD which is GMT+3 and I am also using Demo for IBFX which is GMT+0. I was checking recent 4 hour close on both platform.

FXDD 4 hour candle has another 40 minutes to close and it is looking a perfect pinbar as of now.

Whereas IBFX 4 hour candle closed about 20 minutes ago and it is sort of pinbar but not perfect.

I am confused as to which platform I should use. Would appreciate expert comments on this.

Thanks,

Alifari
The purpose of knowledge is action, not knowledge
  • #33,543
  • Jun 16, 2009 11:25am Jun 16, 2009 11:25am
Quoting alifari
Hi,

This is my first post here. Can somebody advise which is the best broker with regards to data feed for price action trading. I have my account with FXDD which is GMT+3 and I am also using Demo for IBFX which is GMT+0. I was checking recent 4 hour close on both platform.

FXDD 4 hour candle has another 40 minutes to close and it is looking a perfect pinbar as of now.

Whereas IBFX 4 hour candle closed about 20 minutes ago and it is sort of pinbar but not perfect.

I am confused as to which platform I should use. Would appreciate expert...
Hey Alifari,

THis sort of goes into my previous post above yours. It really is up to you. Some of us watch a couple of feeds, just to get a different viewpoint and aggregation of the bars. I know some people who watch 4 feeds. I think in the end things will even out for the most part, and it is perfectly fine to just watch your one broker you are comfortable with. I personally use fxpro as my main feed, and IBFX has my secondary

-Mike
  • #33,544
  • Jun 16, 2009 11:27am Jun 16, 2009 11:27am
Quoting mbqb11
Hey Alifari,

THis sort of goes into my previous post above yours. It really is up to you. Some of us watch a couple of feeds, just to get a different viewpoint and aggregation of the bars. I know some people who watch 4 feeds. I think in the end things will even out for the most part, and it is perfectly fine to just watch your one broker you are comfortable with. I personally use fxpro as my main feed, and IBFX has my secondary

-Mike
Thanks
The purpose of knowledge is action, not knowledge
  • #33,545
  • Jun 16, 2009 11:32am Jun 16, 2009 11:32am
Quoting mbqb11
No worries Tom we have all had that questions.

The answer is there is NO official close time in forex b/c it is not a centralized market. So this means the bars open and close are based on your broker, so yes you can find a different broker with different closing times. I personally prefer one as close to the NY close as possible as I think it is logical. But in the end if you understand location and all that is most important it what make the most difference. I don't agree with having one too much later then a few hours after the NY close though...

Mike,

Thanks for clearing that up.. big help much appreciated!

On a side note I was watching your trading videos on the jamesgroup site last night... very informative and very useful! I shall be watching them periodically as reminders to keep my style in check!!!!

Thanks again

Fat Tom
  • #33,546
  • Jun 16, 2009 11:37am Jun 16, 2009 11:37am
Mike you are so darn fast , your the best . You have made my trading experience so much more enjoyable ( an better ) thanks bro
  • #33,547
  • Jun 16, 2009 11:39am Jun 16, 2009 11:39am
Looks like it's time for another ride on the E/J rollercoaster. Some may be trading both sides of this - I am just going long. LOL - If I get trampled, I will still post.
  • #33,548
  • Jun 16, 2009 11:39am Jun 16, 2009 11:39am
Quoting gjworley1952
Mike you are so darn fast , your the best . You have made my trading experience so much more enjoyable ( an better ) thanks bro
Wow No thank you! Very kind of you guys to say


  • #33,549
  • Jun 16, 2009 11:39am Jun 16, 2009 11:39am
Quoting joebryce
...
We all know your da man. ...
I think you've got it all backwards...

da man, posted here.

I'm just another full time trader, who treats this 'experience' as a serious business. Whether someone cares to read or skip my posts, remains neutral to my well being. If I helped someone, that's great, if not... who cares. Life's too short, time too precious...

btw.
looking to sell aussie, missed initial trigger due to other activities. Also looking forward to demise of e/j... as soon as chart, I posted in the pf yesterday breaks
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  • #33,550
  • Jun 16, 2009 11:42am Jun 16, 2009 11:42am
cmon rac ive been trying to get rid of the "da man" status for almost 5 years.

if someone wants to place rac on that throne im perfectly ok with it.



Quoting raczekfx
I think you've got it all backwards...

da man, posted here.

I'm just another full time trader, who treats this 'experience' as a serious business. Whether someone cares to read or skip my posts, remains neutral to my well being. If I helped someone, that's great, if not... who cares. Life's too short, time too precious...

btw.
looking to sell aussie, missed initial trigger due to other activities
  • #33,551
  • Jun 16, 2009 11:42am Jun 16, 2009 11:42am
  •  kean
  • | Joined Sep 2008 | Status: James16group Lifetime Member | 92 Posts
Quoting fat_tom
Mike,

Your right!! they've all changed significantly...

just wondering then when we all take our bar ends... I'm UK based (although part time trader) and I'm thinkin my bars will end at GMT so currently 11PM for me. So does everyones bars start/end at 00:00 GMT? I guess they probabely do or we'd be getting some very different looking charts getting posted no?

If this is the case then surely I don't have to wait till 11PM to start looking for trades! mind you better than Tokyo who would have to get up in the middle of the night!!

Man I have...
Hi Fat Tom,

I am also based in the UK and asked this very question a few months ago. After some advice I changed my demo account. I am currently 2 months into a demo account with FXPro. Their bar closes are at 10.00pm which equates to 5.00pm New York time. Hope this is helpful.

Kean
  • #33,552
  • Jun 16, 2009 11:49am Jun 16, 2009 11:49am
Quoting james16
cmon rac ive been trying to get rid of the "da man" status for almost 5 years.

if someone wants to place rac on that throne im perfectly ok with it.

no James, you've earned it. Even my wife said that.... and you know, I almost always listen to her... just as they say: 'happy wife, happy life'...


if anyone ever insists on nominating me, I'll disappear from FF forever...
  • #33,553
  • Jun 16, 2009 11:53am Jun 16, 2009 11:53am
Quoting kean
Hi Fat Tom,

I am also based in the UK and asked this very question a few months ago. After some advice I changed my demo account. I am currently 2 months into a demo account with FXPro. Their bar closes are at 10.00pm which equates to 5.00pm New York time. Hope this is helpful.

Kean
Kean,

Thanks for this..

I'm with Alpari UK and have just dug through their website - their GMT/BST+1 so I assume daily candles rollover at 11PM year round I guess.

I am on a sort of demo account (very small real account - which I can afford to loose!! - several times if need be!!) I may however consider changing in the future..

Thanks!

Fat Tom
  • #33,554
  • Jun 16, 2009 11:55am Jun 16, 2009 11:55am
Quoting raczekfx

btw.
looking to sell aussie, missed initial trigger due to other activities. Also looking forward to demiseof e/j... as soon as chart, I posted in the pf yesterday breaks
That sounds like a recipie for economic meltdown.....well...maybe just a retracement.

Anyway, I've got the other half of these, although albeit on a very long range outlook. "Demise" seems to rain on my parade though. LOL - You may be right....we will see.
  • #33,555
  • Jun 16, 2009 11:55am Jun 16, 2009 11:55am
Quoting raczekfx
if anyone ever insists on nominating me, I'll disappear from FF forever....
I would quietly nominate Rac, but will not for fear of him disappearing forever. I just mesh with his approach more than others, I guess . . . and ghous! No one can forget that little fireball.
  • #33,556
  • Jun 16, 2009 11:59am Jun 16, 2009 11:59am
Quoting james16
cmon rac ive been trying to get rid of the "da man" status for almost 5 years.

if someone wants to place rac on that throne im perfectly ok with it.

da man
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"Don't trade to trade . . . trade to win." - James16
  • #33,557
  • Jun 16, 2009 12:03pm Jun 16, 2009 12:03pm
It's officially 00:03 AM here in Indonesia, Happy Birthday James16 Chart Thread!
  • #33,558
  • Jun 16, 2009 12:04pm Jun 16, 2009 12:04pm
well said, spot on and every word true.

when people come on my thread and act like that i always ask my self this.

1. is it someone that is hurting and needing help but the hurt is causing them to post in a fashion that comes accross as confrontational?

2. is it a jackass?

if they show themselves in subsequent posts as number 1 then its a good thing they found us and im glad they are here.

if they show themselves as number 2 they get a message from me asking them to please leave. if they dont i make them leave.

I ALWAYS want to know if someone sees a problem in this thread.

I cant watch everything like mike.

im to old.

ALWAYS give someone new a second or 3rd chance to show who they really are.

JIM









Quoting raczekfx
lol... some people will never get it, that's the fact of life.
And instead of being persistent and happy that someone is actually giving them meal on a silver platter, they turn their energy into jealousy, anger and other negativity. Failing to realize that negativity is a destructive force, they're stuck in that circle without the end.

btw. by commercial, he must've refered to my presence on zulutrade because even though I recommended j16private forum on many occasions here, I receive no remuneration of any kind. My contribution there is strictly...
  • #33,559
  • Jun 16, 2009 12:07pm Jun 16, 2009 12:07pm
Lol.

Thanks marc.

Jim

Quoting marcelnyo
it's officially 00:03 am here in indonesia, happy birthday james16 chart thread! :d
  • #33,560
  • Jun 16, 2009 12:22pm Jun 16, 2009 12:22pm
Boy that is a one pretty four hour pin . . . just a demo trade on this one. i see what James means by not limiting oneself to just Forex . . .
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"Don't trade to trade . . . trade to win." - James16
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