james16 Chart Thread

Happy Birthday James16.
I am new to the forum and enjoy reviewing the information.
Thank you for your generosity in regularly posting.
I am also thankful for whatever motivated you to start this thread many years ago!

TotalNewbie,
u don't have any demo MT4? anyway, i guess u are referring to the previous H4 bar (looking at IBFX MT4).

It's not in the best location, but yes it's tradeable as u can see, news-effected or not.
Having said that, not all here will trade that. Trade discretion/pickiness depends on every trader.

If u did take it, & wary of the "news effect", u can trade a smaller position ro with a tighter stop.
No need for remorse/regret if u did not take it.

Hope this helps.

Marcelnyo,
i agree with albchr & g_j_hook@yah.

No dream is big enough to be unachievable.

if u are willing enough to work hard for it & NEVER quit, consider all your dreams fulfilled.

Just to echo other members, Happy Birthday to the James16 Chart Thread! This thread and the helpful members here have transformed my trading from risky/no edge to profitable in just 6 months. Of course, it takes hard work and lots of practice, but it can be done using only the messages from this thread. James and others provide such great insight on price action, money management, proper entries/exits, support/resistance, FIBS, etc.

Thank you James and all senior members. And thank you newbies for asking the tough questions and keeping the seniors interested!

BTW, just took 2nd TP on EUR/CAD trade from last week. 1.60 PPZ is next/final TP. Notice how my Targets, based on 0.5R, 1R, and 2R, also coincidently line up with PPZ... this is pretty common I've found (so maybe not coincidently, lol).

Josh

Congratulation to all of us that made this thread our home for the past 4 years, some ppl posting a lot, some just lurking, but everybody added their share to make it the best place on the FF (and the whole freaking web for me....lol)

Im really thankful to a lot of you guys and i can't name u all but i would like to name just a few that i feel touched me the most personally:

To: James, Mike, Mark (Racz), Seeking, HipsterPipster, Jarro, PeterFm, Clockwork71, Rustyjeff, Bundyraider, Swami, Habbeb.

Thank you guys, i owe u a lot!!!

For 4 more years!!!

Cheers

Mat

Great trade Josh! I took 86 pips off this long (way back at the daily pin)before hitting my trailing stop. Best of luck to you getting to the 1.60. My challenge right now is staying in the trade for the longer runs. I am good at the entry but the exit strategy is lacking the best plan. I'll get there with experience and practice.

K.I.S.S.

increasing number of well-wishers as the thread birth time arrives...
feels like Christmas or new year's eve.

hi Josh,nice trade.
i was wondering when you were testing exit strategies did you run a test letting the last part of the possition run without targets?and if so how did it preform compared to stting hard hard stops?by my maths,correct me if im wrong,your exit strategy gives you about 1:1.16 return on risk??i was just wondering if this could be improved by letting a part run??
cheers
jon

To albchr & g_j_hook@yah & supremeChaos

Thank you very, very much for the kind words, we all know we're already on the right path , all it will take is time.

Happy birthday J16!

I'm looking at this chart and wondering. Can this be considered as a break through this ppz zone that goes way back on my chart? Or is maybe something still missing? Like a close of this bar (or maybe the next one) above it. A retest to make sure?

P

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Hi James16 thread members


Great thread and great people. I always lurk here and in the PF. I'm not much of a poster but I enjoy the reading. Keep it up.

Happy 4th Birthday

Letitride

Lots of so-so PB's on the 4hr, just going to hold what I got, I did close out the rest of my eur/cad long 7 day trade, never thought I could do it hehe

Rac, you need to make a J16-remix. Take him saying "This stuff is dirt simple folks" and put some dance music in it lol

Stopped out on the usd/jpy, looks like eur/jpy wants to stop me out too Oh well win some lose some as long as it's 50% or better I am happy

Happy birthday toooo yooooou

Primi,
a convincing break & retest/retracement would be great.

Hey happy birthday...thanks for the help from u all - 4 year thread - quite an accolade to all who contribute. Cheers

Great question Jon,
You are correct on the expected R:R... I have not tested really on letting that last 1/3 just run (leaving stop at B/E)...

Let's think about it... if we change the last 1/3 to say tp at 5R... My trades so far are all coming off the daily/weekly chart. So my stops are generally 200-600pips. To get to 5R, I must have a 1000-3000pip move, without coming back to B/E. I have somewhat followed many of my trades after I've exited just to see if they would have ever reached this value and most don't.

Now let's say that it DID reach 5R... so now my expected R:R is: (0.5+1+5)/3 = 2.17. So you can see that it would make a huge difference in my winners... if it happens often enough.

My plan:
I have thought a lot about what you are saying. Once I am trading 1/4hr charts, I will certainly be using higher R values for my targets, namely because I will be able to enter a trade 1)earlier and 2) with a smaller stop. I have watched several of my trades set up on the 4 hour and then 8 hours later show up on the day... The 4 hour trade has already hit 1R, where I am just entering... you get the picture.

So short answer is no, haven't explored letting last 1/3 run because the huge stop loss (pips) means I'm not reaching higher R's very often [yet].

Now that was a good question. I'm sure others have opinions about this. I'm just sharing mine.

Josh

Happy B-day to James16 and everyone.