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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

  • #34,381
  • Jun 23, 2009 4:59am Jun 23, 2009 4:59am
Quoting jarroo
LoL.

Thanks g_j_. I'm not well versed in the H&S patterns. Interesting look. It just looks like one big Pin Bar.
Lol! yeah...and one so clear is extremely rare...I think this is the first time I saw one so conspicuous or maybe it's because I never paid attention to them before. lol!

watching Gj closely and it seems it's ready...for something...
I believe . . .
  • #34,382
  • Jun 23, 2009 5:00am Jun 23, 2009 5:00am
Quoting Marco
Hi there,

I just wanted to tell you about some recent developments in my trading-life which some of you might interest.

In the past my trading looked a lot like this: I took trades of daily charts, set me an alert that I get an SMS on my mobile once I'm into a trade and then I'd watch it. Or I'd watch it anyway because I wanted to be THERE when I got into a trade. So I watched the markets a lot before I even got into a trade and even more once I was in. Then I did lots of fancy stuff, moving stops to breakeven quickly, taking some money, trailing...
I keep screen shots of all my trades and I checked back at the ones that I 'fiddled' with over the last 4 weeks. Of the 6 trades that I have been stopped out at BE over the last 4 weeks, all went onto hit my original TP and would not have been stopped out. That's quite a few pips. This confirms to me that I need to remove the emotion from my trading and let it run to my original plan instead of moving my stop up to 'protect' the trade.

Matt
  • #34,383
  • Jun 23, 2009 5:01am Jun 23, 2009 5:01am
Quoting TotalNewbie
As an English speaking person, I can tell you that the f**k word is not nice to see in polite forums like this. I guess that is what he's referring to.
Aha! Sorry, I didn't see that word!
Yes, it is tought in the first course.
Trading: the skill of avoiding trades
  • #34,384
  • Jun 23, 2009 5:04am Jun 23, 2009 5:04am
Quoting FxMatt
I keep screen shots of all my trades and I checked back at the ones that I 'fiddled' with over the last 4 weeks. Of the 6 trades that I have been stopped out at BE over the last 4 weeks, all went onto hit my original TP and would not have been stopped out. That's quite a few pips. This confirms to me that I need to remove the emotion from my trading and let it run to my original plan instead of moving my stop up to 'protect' the trade.

Matt
Well what I found out for myself is this. You need an exact exit-plan before getting filled and find yourself in a trade. And that exit-plan should be the same for all trades, otherwise no chance to get consistent results.
  • #34,385
  • Jun 23, 2009 5:05am Jun 23, 2009 5:05am
Quoting FxMatt
I keep screen shots of all my trades and I checked back at the ones that I 'fiddled' with over the last 4 weeks. Of the 6 trades that I have been stopped out at BE over the last 4 weeks, all went onto hit my original TP and would not have been stopped out. That's quite a few pips. This confirms to me that I need to remove the emotion from my trading and let it run to my original plan instead of moving my stop up to 'protect' the trade.

Matt
It also means you're entering well

You do deserve a...

Good stuff....and again BEs are winners!

Ghous.
I believe . . .
  • #34,386
  • Jun 23, 2009 5:05am Jun 23, 2009 5:05am
Quoting ghous
It was not a pin bar trade Vourvoul. It was blind entry off the 155 level. My SL in this case wasn't on the platform but I was intent on closing the trade if the 1H bar closed below the previous 3 bar lows. (refer to chart below) It was not what happened and price instead decided to visit my first TP before taking me out at BE.

Regards,
Ghous.
Thanks for the reply Ghous,

I have to say that a conditional SL whilst in a trade does not fit my personality and trading philosophy.

Great to see you came out as a winner though.

Infinite ways to look at markets, even based on the same methodology...

Best Regards
  • #34,387
  • Jun 23, 2009 5:13am Jun 23, 2009 5:13am
Quoting Marco
Thank you. What exactly do you mean? If you mean my english, I know it's far from perfect but I hope everyone understood what I wanted to say.
No, no, your English is fine. The swearing was what bothered me. If you feel it's necessary, then don't worry about it. Not trying to pick a fight.

Josh
  • #34,388
  • Jun 23, 2009 5:17am Jun 23, 2009 5:17am
Quoting jarroo
LoL.

Thanks g_j_. I'm not well versed in the H&S patterns. Interesting look. It just looks like one big Pin Bar.
hi jarroo, dont missunderstand me...neither am i mate.this was just an observation.one thing i do know though is that this happens a lot on smaller TF patterns. just when you think you got it licked, often price will ignore a poss triangle to form a channel ! hehe
its mystery to me but also very interesting.
mabe thats why i get the glaced eyes look when i mention trading to any of my mates also!!l like somebody said, i tried to say i bought and sold money once but the girl disapeared fast thinking i was some kind of gangster!!! i dont metion it much nowdays. hehe
jon
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PATIENCE... DISCIPLINE
  • #34,389
  • Jun 23, 2009 5:23am Jun 23, 2009 5:23am
Quoting Marco
Thank you. What exactly do you mean? If you mean my english, I know it's far from perfect but I hope everyone understood what I wanted to say.
I do think Josh meant the "F" words, I might understand the reason you wrote those are because the excitement on the "Aha" moment you've experience with your trades, but IMHO those words kinda suprised me too, it's quite rare but it does happens when we got real pumped up I think.

The post itself is very motivating and I believe your setup picks must be great ones and have gotten through a great deal of experience, I wish I can be at your level someday.

Sincerely,

Marcel.
  • #34,390
  • Jun 23, 2009 5:28am Jun 23, 2009 5:28am
Quote
one thing interesting about the gb/yen H+S. i dont know if this is part of common TA??

g_j_hook@yah,
i'm not sure if it is "common", but i think i have seen some traders in Igrok's & Auslanco's thread use that trendline "plotting style".



Quote
I keep screen shots of all my trades and I checked back at the ones that I 'fiddled' with over the last 4 weeks. Of the 6 trades that I have been stopped out at BE over the last 4 weeks, all went onto hit my original TP and would not have been stopped out. That's quite a few pips. This confirms to me that I need to remove the emotion from my trading and let it run to my original plan instead of moving my stop up to 'protect' the trade.

FxMatt,
having read your previous two posts, i'd say u are doing well. 'less losses, more brekeven' trades is great. the next level for you must 'be less breakeven, more profits'.

U can also experiment with your A. stops/exits & B. trades taken.
A. u could try exiting with partial profits, putting stops behind better/stronger ppz's or putting your stops at BE + x (value that u'll choose, instead of just BE). this will increase your profitability (less BE trades)
B. try to become pickier with your trades (potential high-momentum setups). better setups = possible better trades/profits
  • #34,391
  • Jun 23, 2009 5:59am Jun 23, 2009 5:59am
Anyone else in this? Stops at BE cos I know it doesn't have far to run 'til the first potential sticking point around 7900. Still, its a free trade now so lets see what happens...
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  • #34,392
  • Jun 23, 2009 6:02am Jun 23, 2009 6:02am
Quoting ghous
It also means you're entering well

You do deserve a...

Good stuff....and again BEs are winners!

Ghous.
Thanks Ghous. If I count my BE trades over the last 4 weeks 80% of my trades have been winners. I just need to keep faith with my trade once it is open and give it room to breathe.

I am definitely making progress and the support of you guys is a major contribution. Thank you.

Matt
  • #34,393
  • Jun 23, 2009 6:06am Jun 23, 2009 6:06am
pa rules
i cant shout.....lol
have to check but i think ive made about +500 pips in 2 days already, some are still opened, havent closed them...trailing them
how simple does it get, i kno there will be some shaky days but hey im loving pa all the way....still in gbpchf, eurgbp since yday
added audjpy h4, audusd h4 pins today, closed half.... @ be on both
got stopped out yday on my euraud h4 dblhc @ be, hopefully i go in for revenge ,if she closes well ....lol
also looking forward to adding gbpjpy h8 pin (if they close as expected)
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Simplicity is the key to success
  • #34,394
  • Jun 23, 2009 6:10am Jun 23, 2009 6:10am
Quoting TotalNewbie
Anyone else in this? Stops at BE cos I know it doesn't have far to run 'til the first potential sticking point around 7900. Still, its a free trade now so lets see what happens...

Stopped at BE again , still that's 2 BEs in a row off the 4H and a lot better than my results before I found this thread.
  • #34,395
  • Jun 23, 2009 6:14am Jun 23, 2009 6:14am
Quoting TotalNewbie
Stopped at BE again , still that's 2 BEs in a row off the 4H and a lot better than my results before I found this thread.

Why not leave it at +1 of +2 instead of BE. it sure helps to see a positive number at the end
  • #34,396
  • Jun 23, 2009 6:22am Jun 23, 2009 6:22am
Quoting Jduester
No, no, your English is fine. The swearing was what bothered me. If you feel it's necessary, then don't worry about it. Not trying to pick a fight.

Josh
About those bad words, I always have a hard time figuring out what might insult people or when exactly "bad language" starts for them. It's a topic that surprises me quite often...there are completly different worlds when it comes to that stuff for different people...

I personally grew up in an environment (friends etc) who well...aren't what you'd call people who have a very fine language. But they're very friendly and nice people you can count on, and so am I (I think/hope at least). For me personally bad language or insulting things is more like when someone is telling me (hmm what's the fine word for bullshit?). What words are used I don't care much about, as long as they tell/express the truth and are "real" and straightforward. To give you an example, I said that I thought *bad word* when I was in a trade running against me or had a negative outcome. That's what I did and expressing it this way for me seems to be the most honest/direct way to give you an idea what was going on with me at that time. I would feel like a bit of a cheater if I'd put that in beautiful words...

And hey Josh. No problem, don't want a fight with you, and by the way, I'm always happy to read your posts. For my part I'll simply respect that some people have trouble with such words here so I'll try to not use them in the future. I respect that and I'm fine with it aka I don't take it personally. Just wanted to make sure with this post that my intention wasn't bad when I was writing them.

Now let's get back to business!

Take care,

Marco
  • #34,397
  • Edited 6:38am Jun 23, 2009 6:27am | Edited 6:38am
Quoting TotalNewbie
Stopped at BE again , still that's 2 BEs in a row off the 4H and a lot better than my results before I found this thread.
That sux, because I think it has a decent run in it. Looking to get in on some PA on the lower tf or maybe a retest.

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*edit* while it is aussie night, also looking for a bounce here. Probably enter if the daily pin forms, stop just below the ppz.

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When you have to shoot, shoot. Dont talk.
  • #34,398
  • Jun 23, 2009 6:35am Jun 23, 2009 6:35am
squeezy, TotalNewbie,
Nice trades.

squeezy, if u wanna shout here but can't, just use this: or or or
  • #34,399
  • Jun 23, 2009 6:48am Jun 23, 2009 6:48am
Quoting supremeChaos
FxMatt,
having read your previous two posts, i'd say u are doing well. 'less losses, more brekeven' trades is great. the next level for you must 'be less breakeven, more profits'.

U can also experiment with your A. stops/exits & B. trades taken.
A. u could try exiting with partial profits, putting stops behind better/stronger ppz's or putting your stops at BE + x (value that u'll choose, instead of just BE). this will increase your profitability (less BE trades)
B. try to become pickier with your trades (potential...
Thank you supremeChaos. I agree that I need to improve my pick of trades with momentum. My main issue that I am working on at the moment is to avoid fiddling with a trade once it is open. Essentially it boils down to me making a plan before opening a trade and then sticking to it once the trade is running.

Next, I will work on my ability to plan for and hold longer time trades.

Its coming together for me. I started trading about a year ago and at times I have felt completely lost but I kept at it and this thread has been a major help to me sticking with it and turning consistant profits.

Anybody who is right at the beginning of their trading - just stick with it. You will get there eventually.

Matt
  • #34,400
  • Jun 23, 2009 6:49am Jun 23, 2009 6:49am
Quoting Marco
About those bad words, I always have a hard time figuring out what might insult people or when exactly "bad language" starts for them. It's a topic that surprises me quite often...there are completly different worlds when it comes to that stuff for different people...

I personally grew up in an environment (friends etc) who well...aren't what you'd call people who have a very fine language. But they're very friendly and nice people you can count on, and so am I (I think/hope at least). For me personally bad language or insulting things is more...
If it's any consolation Marco, you should hear how much I swear when I'm talking to my friends. Some of them have elevated it to an art form...

You're right, these things are all relative. I was really impressed with this post and your attitude. This thread seems to attract mature people who can resolve potential disagreements without getting defensive or resorting to flaming (I remember how Supreme reacted to the criticism of his multi coloured posts in a similarly mature way).

Back to business!
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