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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

  • #34,281
  • Jun 22, 2009 7:52pm Jun 22, 2009 7:52pm
Quoting Ryanmcd
Funny you said this, when I 1st started out my last mentor said the same thing, he also said that Doctors and Engineers have the HARDEST time to trade due to it not being the same thing everytime and they don't have a exact way to do it, teachers also have a hard time as well he said.
There's a 3 part documentary called "Million Dollar Traders" I watched on the net the other day. It involved a group of 8(??) people plucked from all walks of life and put in charge of various parts of 1 million pounds for a couple of months (or more).

The calmest trader was female. By a long shot.
I've read and heard this many times about females being more likely to be naturals at trading. Guys have to 'kick arse' all the time. We the man!! ...we ALL know how this works against us. lol

Mark Douglass mentions the doctor, lawyer, engineer thing a few times too and it totally makes sense.

I think, by pure coincidence it was also run during the beginning of the meltdown too. lol

Check it out anyone who cares. It shows all the human traits we have all come to love in trading(ok...maybe not love. ).
Bundy's status today: "Waiting..."
  • #34,282
  • Jun 22, 2009 8:00pm Jun 22, 2009 8:00pm
Quoting TiaForex
Raczek made this point too and said that in his little group of traders, farmers do the best.
I will back that up...
As a technician in a rural area, I use to see this all the time.

Being into trading I'd often get into conversations with them about their trading. (I'd be out to fix a modem connection for them or something that stopped them trading. )

Farmers, in general, know how to run a business and their trading more often than not is an extension of the rest of their business. They also know how to think 'long term'. They have to.
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Bundy's status today: "Waiting..."
  • #34,283
  • Jun 22, 2009 8:01pm Jun 22, 2009 8:01pm
Quoting bundyraider
There's a 3 part documentary called "Million Dollar Traders" I watched on the net the other day. It involved a group of 8(??) people plucked from all walks of life and put in charge of various parts of 1 million pounds for a couple of months (or more).

The calmest trader was female. By a long shot.
I've read and heard this many times about females being more likely to be naturals at trading. Guys have to 'kick arse' all the time. We the man!!...
It's a UK show. Makes you feel very good about what we do here. Those guys were basically red meat thrown into a trading room and asked to pick a stock. They based it on reading the newspapers.... And one of them was called out for not putting on any positions. So much for sniper shots.

The agony they went through when the positions went against them....that we can all recognise. And hardly anyone watched a chart. It's worth watching to get confidence about what we do here.

The trader they worked for was called Lex Van Dam. Which is surely a made up name...
  • #34,284
  • Jun 22, 2009 8:02pm Jun 22, 2009 8:02pm
Thanks Aaron

Another terrific thoughtful & thought provoking post.
You're like a defrag program for my brain!!!

Cheers, Gov


Quoting TiaForex
There are so many ways to play basic price action. Ghous is right to point out that price reversed exactly where expected, and if you took the daily GBPCHF trade you can't have been surprised that it did that.

Clock is also right that if you took that trade near a swing high looking for that small RR then it's an awful lot to risk for a small RR. But there are many ways to look at this.

You could be a "stop to break even quick" kind of trader. And so as the trade broke hard you moved your stop to BE looking for a longer move. You got stopped...
  • #34,285
  • Jun 22, 2009 8:04pm Jun 22, 2009 8:04pm
Quoting KissFan
Noticed that on the daily and 4hr. Take a look at the monthly.

K.I.S.S.
Yep. Not watching much other than daily, weekly, monthly at the minute (...haha...get it? ...at the 'minute' ...just noticed that. lol). My fibs on that chart are monthly based.

Will be nice if we get a pin. Who can say "The good pins are often like mini Head and Shoulder patterns"? Anyone??
.
Bundy's status today: "Waiting..."
  • #34,286
  • Jun 22, 2009 8:13pm Jun 22, 2009 8:13pm
Quoting Blackinc
Imagine a girlfriend who gets as excited as you about a perfect pin bar in loads of space.... Can there be a bigger turn on?

haha
I learnt pretty quick not to talk about trading around most women I meet when they ask what I do.

After the first couple of times of seeing their eyes glaze over, I quickly realised it's about as exciting to them as a rice cake in a chocolate cake contest.
Bundy's status today: "Waiting..."
  • #34,287
  • Edited 9:28pm Jun 22, 2009 8:23pm | Edited 9:28pm
Quoting bundyraider
I learnt pretty quick not to talk about trading around most women I meet when they ask what I do.

After the first couple of times of seeing their eyes glaze over, I quickly realised it's about as exciting to them as a rice cake in a chocolate cake contest.
I never mention it to women. Ever. . Although if I had to, I like Mike's definition, "I buy and sell money". Sounds cool no?

Luckily my main job is as a theatre, televison and film actor which sounds far more interesting (even though in practice it isn't). In fact you wouldn't believe some of the places I have posted to this thread from, and you wouldn't believe who some of the people were that asked me what I was doing. At least one Oscar winner now knows about James16...
  • #34,288
  • Edited 8:36pm Jun 22, 2009 8:33pm | Edited 8:36pm
Quoting KissFan
We are headed to the month's end. Some monthly charts are looking interesting.

K.I.S.S.
Yep.

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skype: ststroud. let's talk trading.
  • #34,289
  • Jun 22, 2009 9:09pm Jun 22, 2009 9:09pm
Quoting TiaForex
and some of the people I've had to explain what I am doing to....
I had to read that one again. Can be read two ways. lol

I've said the "Buy and Sell money" thing a couple of times. Someone had a really good one somewhere. Darkstar maybe? Something about "other countries".

I just know that saying "I trade the Forex market" You may as well say "Ib glob da oomux mar bub" ...That forex word just isn't a part of many peoples vocabluaries.
.
Bundy's status today: "Waiting..."
  • #34,290
  • Jun 22, 2009 9:13pm Jun 22, 2009 9:13pm
Quoting bundyraider
I had to read that one again. Can be read two ways. lol

I've said the "Buy and Sell money" thing a couple of times. Someone had a really good one somewhere. Darkstar maybe? Something about "other countries".

I just know that saying "I trade the Forex market" You may as well say "Ib glob da oomux mar bub" ...That forex word just isn't a part of many peoples vocabluaries.
.
"Don't trade to trade . . . trade to win." - James16
  • #34,291
  • Jun 22, 2009 9:25pm Jun 22, 2009 9:25pm
looking for PA @ 155.00. Although it looks as though price might bounce, I would like to see it break below the h&s neckline of 155, but, of course, we will have to wait and see.....

Tyler

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skype: ststroud. let's talk trading.
  • #34,292
  • Jun 22, 2009 9:25pm Jun 22, 2009 9:25pm
Quoting bundyraider
I had to read that one again. Can be read two ways. lol

I've said the "Buy and Sell money" thing a couple of times. Someone had a really good one somewhere. Darkstar maybe? Something about "other countries".

I just know that saying "I trade the Forex market" You may as well say "Ib glob da oomux mar bub" ...That forex word just isn't a part of many peoples vocabluaries.
.
Bundy. I edited it for clarity.
  • #34,293
  • Jun 22, 2009 9:39pm Jun 22, 2009 9:39pm
Quoting bundyraider
I learnt pretty quick not to talk about trading around most women I meet when they ask what I do.

After the first couple of times of seeing their eyes glaze over, I quickly realised it's about as exciting to them as a rice cake in a chocolate cake contest.
eh well, my problem's the opposite. I start talking about charts and technicals, and all the guys give me a wide berth. http://i290.photobucket.com/albums/l...s/gonnacry.gif

interesting conditions we're having on the current markets.
  • #34,294
  • Jun 22, 2009 9:46pm Jun 22, 2009 9:46pm
Weekly IB of AudUsd has broken to the downside.

Having seen little discussion of the management of IB trades, would like some advice on taking IB trades and what to look out for.
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  • #34,295
  • Jun 22, 2009 9:55pm Jun 22, 2009 9:55pm
Quoting moneda
SupremeChaos,

Excuse for intervening with this Zen thing but I do recall that in the book there is a famous Forex koan.... it goes like this: What is the sound of one pip pipping?
lol moneda


Quoting Maggioz
This is my first post on this thread, though have been a lurker for some time and also a member of the PF, but I hope to post more in the future as I feel we females are in short supply. Maybe there are more out there than I realise....Maggi
Welcome Maggi. Great to have another lurker-turned-poster.
another snowball effect of last night: here, here, &/or here.


Quote
yes its very hard to know sometimes because many of our fine ladies pick a gender neutral name.
i know for a fact that there are a couple of "names" here that everyone thinks is a guy when that aint so. lol.
They get a kick out of it and so do i actually.
One of them all of you would fall right out of your chair if you knew.
all our ladies are treated with the respect.
respect and kindness are required here.
we are honored to have you join us.
yes, we treat everyone, not just the women, with respect & kindness.


Quoting TiaForex
It's Mike isn't it? I knew it.
(And btw, my screenname had people sending me flirty messages when I first started on here. Before they realised I was a man. It's actually an acronym of my first name and my business partner's first name.)
Aaron
Quoting mbqb11
Yes it is, I just use a voice changer for the webinars/videos
But in all seriousness, many of our female members I speak with through PMs and emails only and they turn out to be the best, and most level headed for trading, then us egotistical males that have to battle ourselves. Glad to see more female posters here too
Mike
Quoting jarroo
This is going to bug me for awhile. lol
Quoting Blackinc
Imagine a girlfriend who gets as excited as you about a perfect pin bar in loads of space.... Can there be a bigger turn on?
haha
LOL @ all these...
So who are these women "cloakers"? it would be great if they reveal their real gender, say after 3-5 years of posting in FF. i wouldn't be surprised but i might still fall of my chair. lol

Quoting bundyraider
LOL. I actually read it as "Thanks In Advance FOREX!!!"
I don't blame any female posters for going gender neutral names. Every time a new female poster introduces themselves here (the obvious ones) every guy in here jumps through hoops to help. I think it's a crack up. lol
lol.
same here golden bundy, that was what i thought about "TIA's" meaning too --Thanks in advance. nice coincidence on Aaron's part.
  • #34,296
  • Jun 22, 2009 9:57pm Jun 22, 2009 9:57pm
Quoting jarroo
That's excellent Tia. Once you see a setup so many times and how you managed it before worked so well, and then you apply it the same way it almost becomes routine or (dare I say) boring. lol
jarroo,
first time 'boring' has been 'fun' to me.
thanks to james16 thread for shedding a different light on/showing a positive side of boredom. lol
  • #34,297
  • Jun 22, 2009 10:06pm Jun 22, 2009 10:06pm
Quoting Autumm
Weekly IB of AudUsd has broken to the downside.

Having seen little discussion of the management of IB trades, would like some advice on taking IB trades and what to look out for.
Once your in the trade you use all the same rules you would for any other set up. Mark out your PPZs and any spot where there is a potential stumbling block to your trade.

Choosing which IBs to trade is the key (of course. lol). Don't just trade an IB because it's there. The good ones tend to be hard against a PPZ, trendline and so on where the safest way to enter is on a good break of that particular S/R point.

Like what Mike mentions with placing his buy/sell orders on the other side of a round number, same goes for trading an IB. Careful of a pure break unless it has good room to move into profit. Place your order wisely. Usually on the other side of that S/R point you are watching with your plan.

With IBs you need a plan. There aren't that many IBs that have a good potential trade on both sides of the IB. Usually there is an overwhelmingly better trade choice in one particular direction. If it goes the other way , you move on, staying flat.

.
Bundy's status today: "Waiting..."
  • #34,298
  • Jun 22, 2009 10:09pm Jun 22, 2009 10:09pm
Been seeing these everywhere this month
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  • #34,299
  • Jun 22, 2009 10:21pm Jun 22, 2009 10:21pm
Quoting mbqb11
don't worry ghous. Those of us doing this for awhile, realize their are many ways to skin a cat. One trade is meaningless in the larger scheme of a trading method. This trade is not at all dissimilar to the eur/gbp James posted a few posts back. Like James said, A+? no, but did it still do what was expected, yep!

We all appreciate your thoughts and analysis and they are very good

Mike
Thanks for the heads up Mike and the Jims and all...
I believe . . .
  • #34,300
  • Jun 22, 2009 10:23pm Jun 22, 2009 10:23pm
Quoting bundyraider
Once your in the trade you use all the same rules you would for any other set up. Mark out your PPZs and any spot where there is a potential stumbling block to your trade.
What do you use to mark PPZs? Just horizontal S&R? Or a Pivot Point calculation / indicator?
non si dimentichi mai
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