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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

  • #34,401
  • Jun 23, 2009 6:52am Jun 23, 2009 6:52am
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...
great post Marco, this is me down to a tee. if i evalulated the trades which orders/and sometimes targets were triggered whilst asleep or if i was out of the house they would for sure be my most profitable collection of trades! micro management doesnt work. i hope to reach your level some day. i think its a matter,at least for me, of proper risk exceptance.Then good exit strategies.
cheers
jon
p.s. for all of you whos english is your second language you have no need to worry about or apologise for your english. most of you are more eloquent with your language than me, and they are usually better spelt!
PATIENCE... DISCIPLINE
  • #34,402
  • Jun 23, 2009 6:56am Jun 23, 2009 6:56am
Quoting supremeChaos
squeezy, TotalNewbie,
Nice trades.

squeezy, if u wanna shout here but can't, just use this: or or or
will do....
how's ur trading coming up
Simplicity is the key to success
  • #34,403
  • Jun 23, 2009 7:03am Jun 23, 2009 7:03am
just did a search & in the entire thread's history it has only been used twice...
  • #34,404
  • Jun 23, 2009 7:16am Jun 23, 2009 7:16am
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...
Does this look like a break of the level around 7800 and then a retest of that level from below, in which case it might now go down?
  • #34,405
  • Jun 23, 2009 7:19am Jun 23, 2009 7:19am
well I'm back from another break and ready to demo again. Will STICK to DAILY only from now on and see how I get on. I kept going to 1 hour and losing too many trades.
  • #34,406
  • Jun 23, 2009 7:20am Jun 23, 2009 7:20am
Quoting dkmb92
just did a search & in the entire thread's history it has only been used twice...
Wasn't me was it?
Bundy's status today: "Waiting..."
  • #34,407
  • Jun 23, 2009 7:22am Jun 23, 2009 7:22am
Hi,
I've just recently joined the group and have spend the last week or so reading the thread from the start to about p150. I think I've got the idea, and have entered my first PB based trade. 2 lots long. Where do I get out? Currently up 100pips. Daily chart has the PB bouncing off the bottom of a upward channel.

Thanks, Jason

I hope the attachment worked.
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  • #34,408
  • Jun 23, 2009 7:24am Jun 23, 2009 7:24am
Enjoy, Also took a SS of my live trade so I don't get any of that "It's easy to past post crap"
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Keep taking CT trades, I need more money
  • #34,409
  • Jun 23, 2009 7:35am Jun 23, 2009 7:35am
Quoting Ryanmcd
Enjoy, Also took a SS of my live trade so I don't get any of that "It's easy to past post crap"
Nice ones, Ryan!

P.S. What's the deal with the "stops" in Soviet Russia?
One Chart is Worth Ten Thousand Words.
  • #34,410
  • Jun 23, 2009 7:41am Jun 23, 2009 7:41am
Quote
will do....
how's ur trading coming up

squeezy,
i only had 1 trade earlier, (a late entry) eurgbp long, just +38. thanks for asking.
i'm having problems connecting with FF & displaying pages since yesterday (today i had 1 post displayed 2x, the other one 3x! lol). i'll try to post charts (plus jarroo's chart request) later. (i'll just edit this post, probably)
  • #34,411
  • Jun 23, 2009 7:42am Jun 23, 2009 7:42am
Quoting Forex007
Nice ones, Ryan!

P.S. What's the deal with the "stops" in Soviet Russia?

lol just being dumb.

Yakov Smirnoff


Russian reversal
Russian reversal or "In Soviet Russia" is a type of joke originated by Arte Johnson[citation needed] on Rowan & Martin's Laugh-In, and popularized by Smirnoff, and is an example of antimetabole. The general form of the "In Soviet Russia" joke is that the subject and objects of a statement are reversed, and "In (Soviet) Russia", or something equivalent, is added. For example:
In America, you catch a cold. In Russia, cold catches you
Keep taking CT trades, I need more money
  • #34,412
  • Jun 23, 2009 7:43am Jun 23, 2009 7:43am
isnt this a rac, ikki, 4fun kind of trade
looking for pa here but nothing yet, sure rac wld hav a sell limit here...lol
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Simplicity is the key to success
  • #34,413
  • Jun 23, 2009 7:48am Jun 23, 2009 7:48am
Quoting Ryanmcd
lol just being dumb.

Yakov Smirnoff


Russian reversal
Russian reversal or "In Soviet Russia" is a type of joke originated by Arte Johnson[citation needed] on Rowan & Martin's Laugh-In, and popularized by Smirnoff, and is an example of antimetabole....
Got it, thanks a lot, Ryan. Hm, "in Soviet Russia, you use Stop Profit and Take Loss to manage trades", eh?
One Chart is Worth Ten Thousand Words.
  • #34,414
  • Jun 23, 2009 7:54am Jun 23, 2009 7:54am
Quoting Forex007
Got it, thanks a lot, Ryan. Hm, "in Soviet Russia, you use Stop Profit and Take Loss to manage trades", eh?

You got it!
Keep taking CT trades, I need more money
  • #34,415
  • Jun 23, 2009 8:03am Jun 23, 2009 8:03am
Quoting advfntrader
well I'm back from another break and ready to demo again. Will STICK to DAILY only from now on and see how I get on. I kept going to 1 hour and losing too many trades.
I've had that problem, I'm coming to the conclusion that pin bars are much less reliable on 1 hr charts. Maybe all other setups too?...not sure
  • #34,416
  • Jun 23, 2009 8:15am Jun 23, 2009 8:15am
Quoting bfd
I've had that problem, I'm coming to the conclusion that pin bars are much less reliable on 1 hr charts. Maybe all other setups too?...not sure

I did the 5min pins and unless you have a divergence ppz and some luck you will work very hard. 4hr and daily seem to work well better then 60%, that and use good MM and that's all you need and the bonus is you have a life to do other things and not have to watch the charts all day.
Keep taking CT trades, I need more money
  • #34,417
  • Jun 23, 2009 8:16am Jun 23, 2009 8:16am
Quoting bfd
I've had that problem, I'm coming to the conclusion that pin bars are much less reliable on 1 hr charts. Maybe all other setups too?...not sure
I Beg to Differ dear Sir,

Pinbars, and any other PA are very reliable, it's just very, very, very difficult to utilize in lower timeframes, that's why the requirements on Post #1 are we always start with daily/weekly TFs until we really get the hang of it.
When moving down on timeframe, we need to find that one beautiful bar in the very distinct location in order to get the highest trade probability, all in all, I believe PA can be very reliable in lower timeframes.

In fact, the man which his very presence deny that PA isn't reliable in lower timeframes is online right now, RyanMcD I believe has succeeded in trading PA in m5 TFs for a long time, but please do note that before he does that, he spent 80 hours a week for 5 years training his skills.

Ryan, please do correct me if I'm wrong.

Sincerely,

Marcel.

EDIT: He beat me to it. LOL.
  • #34,418
  • Jun 23, 2009 8:24am Jun 23, 2009 8:24am
Quoting squeezy
isnt this a rac, ikki, 4fun kind of trade
looking for pa here but nothing yet, sure rac wld hav a sell limit here...lol
bit too early, but I get the feeling we'll see 132 again..

Is ghous a girl trader...? , nuh... maybe is...nuh..., I talked to rusty..., Mike and his/her webinar voice changer......

Where is my C-ball?
Attached Image
  • #34,419
  • Jun 23, 2009 8:28am Jun 23, 2009 8:28am
Quoting StoragePro
Something different for you. >snip<

We found a range back in May. Applied the ICCE to the range and waited.

6 trades on the 4hr in the past 30 days. The last one is still open. It may simply reverse in the box, or not. I am watching it closely, If I get a reversal bar, I'll jump in long. I'd really like to see it run down to 132 and the top of the original channel. >snip<
Got my wish! Price went to the top of the marked channel (Good Price!) and then presented two PB's before bed time last night. Right back in on the reverse and locked in profit.

Interestingly, and predictably, price is having some trouble at ~134 where a PPZ lives. With nice priofit locked in, I am waiting this one out. That was a nice powerful move overnight, I'd like to see if I can wrestle some more out of this one.

I'll check back in when this current bar closes, buti think I may have better intelligence handed to me at the end of the day as there is very strong potential for positive PA.
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I'm pretty much done with all this ...
  • #34,420
  • Jun 23, 2009 8:31am Jun 23, 2009 8:31am
Quoting kinsja
Hi,
I've just recently joined the group and have spend the last week or so reading the thread from the start to about p150. I think I've got the idea, and have entered my first PB based trade. 2 lots long. Where do I get out? Currently up 100pips. Daily chart has the PB bouncing off the bottom of a upward channel.

Thanks, Jason

I hope the attachment worked.
hi kinsja, nice trade. on my feed i got some nice 4h BUOBs on the yen crosses. i missed the entries though . as far as eu/yen is concerned price has come up to quite a big level. if i was in the trade i would have taken profits now and my stop would be at BE.
hope this helps.
jon
EDIT: keep on posting. i just noticed that was your first post.welcome from the shadows!! lol
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PATIENCE... DISCIPLINE
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