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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

  • #34,541
  • Jun 23, 2009 6:31pm Jun 23, 2009 6:31pm
Hey Jim get your chart ready for posting.
Attached Image
Indicators show the past. Price Action "Indicates" the future.
  • #34,542
  • Jun 23, 2009 6:31pm Jun 23, 2009 6:31pm
Quoting bundyraider
WILL YOU PEOPLE SLOW DOWN!!!!

I don't have time to read 8 pages when I wake up.
I second that! I barely have time to trade between working my day job and trying to keep up with this thread!
skype: ststroud. let's talk trading.
  • #34,543
  • Jun 23, 2009 6:39pm Jun 23, 2009 6:39pm
NO DIFFERENCE.

its an illusion that they are less reliable.

they are not less reliable they are just "harder".

harder in this case is hard to define with words.

in this case harder must be experienced and overcome.

jim



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
  • #34,544
  • Jun 23, 2009 6:41pm Jun 23, 2009 6:41pm
mine was a very simialar experience.

i just plopped out the first thing that came to mind.

jim

Quoting Dropped Onion
Hi Mike. Making a quesadilla i dropped an onion. Right after, i discovered FF and had to sign up with a username and went with dropped onion. wish there was more to it
  • #34,545
  • Jun 23, 2009 6:45pm Jun 23, 2009 6:45pm
Quoting mbqb11
Also you can always find reasons to trade and not to trade. They key is to find the reasons in a consistent way for both trading and passing on trades.

Mike
Pure gold Mike.

One can read that line and think about for a week with nothing but positive results.
Indicators show the past. Price Action "Indicates" the future.
  • #34,546
  • Jun 23, 2009 6:45pm Jun 23, 2009 6:45pm
Quoting james16
mine was a very simialar experience.

i just plopped out the first thing that came to mind.

jim
What's that phrase...."great minds think alike"....JK.....I have a lot learn and much to prove...great thread Jim!
  • #34,547
  • Jun 23, 2009 6:53pm Jun 23, 2009 6:53pm
Quoting bundyraider
WILL YOU PEOPLE SLOW DOWN!!!!

I don't have time to read 8 pages when I wake up.
Get up sooner lazy.
Keep taking CT trades, I need more money
  • #34,548
  • Jun 23, 2009 6:56pm Jun 23, 2009 6:56pm
Quoting james16
NO DIFFERENCE.

its an illusion that they are less reliable.

they are not less reliable they are just "harder".

harder in this case is hard to define with words.

in this case harder must be experienced and overcome.

jim

Yep, I did the 5min for a while they just move a little different I think, you have the spread that makes them print different as well as big news spikes that take time to pan out. I will say the 4hr and daily I can take setups and they have more "Wiggle" room, doing a 5min eur/usd short with a 3-5pip stop and 20 pip target you better be damn right or your screwed lol. I think what really kills people on the 5min is it's like compressing 1 month of charts into a day and people feel the need to jump the gun because to me I trade the 4hr, 1hr, 1min about the same BUT you have to watch more bars on the lower times.
Keep taking CT trades, I need more money
  • #34,549
  • Jun 23, 2009 7:02pm Jun 23, 2009 7:02pm
Quoting jarroo
Hey did you guys meet my cousin Bob today? Hope he didn't cause any trouble.

lol (just kidding) lol

Ya he was great, I just wish someday I could blow up and then bitch everyone out lol. I think we had someone like that in Atlanta about 9 years ago, he blew up in a week and shot and killed 12 people.

http://www.independent.co.uk/news/at...s-1109415.html
Keep taking CT trades, I need more money
  • #34,550
  • Jun 23, 2009 7:04pm Jun 23, 2009 7:04pm
Quoting Ryanmcd
Ya he was great, I just wish someday I could blow up and then bitch everyone out lol. I think we had someone like that in Atlanta about 9 years ago, he blew up in a week and shot and killed 12 people.

http://www.independent.co.uk/news/at...s-1109415.html
Yeah I heard about that. Obviously he ignored the big Bearish Pin Bar on the Weekly.
Indicators show the past. Price Action "Indicates" the future.
  • #34,551
  • Jun 23, 2009 7:08pm Jun 23, 2009 7:08pm
Quoting jarroo
Yeah I heard about that. Obviously he ignored the big Bearish Pin Bar on the Weekly.
LOL!! Sorry, I probably shouldn't laugh about that
skype: ststroud. let's talk trading.
  • #34,552
  • Jun 23, 2009 7:14pm Jun 23, 2009 7:14pm
Quoting jarroo
Yeah I heard about that. Obviously he ignored the big Bearish Pin Bar on the Weekly.
And perhaps overtrading or taking a revenge trades.
Such an emotionally unstable idiot !!!
People should know when they are conquered and he was a victim of himself.
  • #34,553
  • Jun 23, 2009 7:14pm Jun 23, 2009 7:14pm
Quoting jarroo
Yeah I heard about that. Obviously he ignored the big Bearish Pin Bar on the Weekly.

LOL, He went bearish on humans but got hedged by the cops I bet he was yelling, IT WAS THE DAMN MARKET!!!! He ended up shooting himself about 3 miles from my home.
Keep taking CT trades, I need more money
  • #34,554
  • Jun 23, 2009 7:14pm Jun 23, 2009 7:14pm
Yes, that's a hard break.
Attached Images
Indicators show the past. Price Action "Indicates" the future.
  • #34,555
  • Jun 23, 2009 7:16pm Jun 23, 2009 7:16pm
Quoting Ryanmcd
LOL, He went bearish on humans but got hedged by the cops
llol good one. Sometimes you gotta just laugh.
Indicators show the past. Price Action "Indicates" the future.
  • #34,556
  • Jun 23, 2009 7:16pm Jun 23, 2009 7:16pm
Just got filled on gbp/jpy, If this fails it's all James and Mike's fault. Don't make me login as Bob again
Keep taking CT trades, I need more money
  • #34,557
  • Jun 23, 2009 7:21pm Jun 23, 2009 7:21pm
Quote
Just got filled on gbp/jpy, If this fails it's all James and Mike's fault. Don't make me login as Bob again

Me too. I'm keeping a close eye on this one, though.
Attached Image (click to enlarge)
Click to Enlarge Name: 06-23-09 gbpjpy d1 pb break.gif Size: 15 KB
skype: ststroud. let's talk trading.
  • #34,558
  • Jun 23, 2009 7:25pm Jun 23, 2009 7:25pm
Those who are in long G/J trade, are you Guys booking profits at 156.40 and then BE /
G/J is a wild rider, truly I hate this pair cause is so wild and I think I need to learn to ride the wheeler before I got into Ferrari
Now will stand asaide and watch the race
  • #34,559
  • Jun 23, 2009 7:31pm Jun 23, 2009 7:31pm
Quoting pakiestra
Those who are in long G/J trade, are you Guys booking profits at 156.40 and then BE /
G/J is a wild rider, truly I hate this pair cause is so wild and I think I need to learn to ride the wheeler before I got into Ferrari
Now will stand asaide and watch the race

160.50 T1. 163ish T2. Stop @ cost once T1 is hit.
Keep taking CT trades, I need more money
  • #34,560
  • Jun 23, 2009 7:33pm Jun 23, 2009 7:33pm
Quoting pakiestra
Those who are in long G/J trade, are you Guys booking profits at 156.40 and then BE /
G/J is a wild rider, truly I hate this pair cause is so wild and I think I need to learn to ride the wheeler before I got into Ferrari
Now will stand asaide and watch the race
I assume you mean 157.40, as that is near the first daily bar low that could cause problems. Personally, I am watching very closely, as I'm still bearish in the longer term for this pair. I will probably move up my stops by then, and if price hiccups too much, I'll take some profits. I don't trade this pair too often, so I'm a little nervous myself. One can never be too cautious.

Tyler
skype: ststroud. let's talk trading.
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