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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

  • #34,701
  • Jun 24, 2009 8:14am Jun 24, 2009 8:14am
Quoting bundyraider
Nice.

I'm jealous. I like those types of set ups.
I must have posted it yesterday while you were snoozing again...
  • #34,702
  • Jun 24, 2009 8:20am Jun 24, 2009 8:20am
Quoting Jduester
It's a big step once you can pass on the good setups, watch them work and not feel like you missed it. Only take the Great setups. I'm hopefully getting there...

Josh
good for you, wanted to remind you yday of the usdcad daily pin on the 6th of this month, same scenario but forgot to....doesnt mean it would do the same thing again and again
happy trading people

btw , sick move on the chf pairs
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Simplicity is the key to success
  • #34,703
  • Jun 24, 2009 8:34am Jun 24, 2009 8:34am
Quoting raczekfx
lol.. not a chance.
'I work for...' a well being of my family...and better future of my kids.
It remains to be seen, if it can be achieved on this 'battled' planet.
raczekfx,
Another reason why u are 1 of my idols. x100
  • #34,704
  • Edited 9:09am Jun 24, 2009 8:35am | Edited 9:09am
Quoting mbqb11
THis was some crazy stuff! Shouldn't have closed out my long pin early !
You and me both my friend.

My live account daily GBPCHF took a loss because I moved my stop up. I also moved it up on AUDUSD weekly because I thought if it breaks 8000 again I don't want to be in it. So two losses.

A difficult month for me live but as a poker player would say "I played the hand right and I lost" so all part of the plan. It'll come around if I don't go chasing it.

I had a quick TP on my 4H demo at the recent bar lows looking for a smash and grab profit. I banked that at 0.5R. And now look where it is. Would have been around 5-6R to the 1.8. Ah well, I'm collecting demo data to see if I can go live profitably on 4H and that trade would probably have skewed it all....

Also, isn't amazing how the learning curve seems to have exactly the same stages for everyone. I am currently in the "only take 3 hour naps and never sleep the night" stage, which I read you went through as well.
  • #34,705
  • Jun 24, 2009 8:36am Jun 24, 2009 8:36am
Quoting jplo
Thank you SupremeChaos, what do you think about Alpari?
jplo,
Alpari is ok too.
Alpari US i think has 23 pairs, Alpari UK has 29 pairs.
(All brokers i mentioned, i referred to demo's; several here use live MT4 brokers)
  • #34,706
  • Jun 24, 2009 8:50am Jun 24, 2009 8:50am
Quote
A difficult month for me live but as a poker player would say "I played the hand right and I lost" so all part of the plan. It'll come around if I don't go chasing it......
Also, isn't amazing how the learning curve seems to have exactly the same stages for everyone. I am currently in the "only take 3 hour naps and never sleep the night" stage, which I read you went through as well.

TiaForex,
so u play poker too huh?

i have been through that path too -- +/- 10-20 waking hours of staring at the computer screen, WITH or WITHOUT trades on.
I'm just glad the james16 thread, if taken seriously, tremendously decreases the chance of newer (& even older) traders mimicking our trading path & making the usual mistakes.
  • #34,707
  • Jun 24, 2009 9:02am Jun 24, 2009 9:02am
Quoting TiaForex

...Also, isn't amazing how the learning curve seems to have exactly the same stages for everyone. I am currently in the "only take 3 hour naps and never sleep the night" stage, which I read you went through as well.
Quoting Jduester
I'm in WI, so only 1 hour off... I started sleeping biphasically a little over a month ago. It has really helped me stay up and alert during London. Granted the hours will have to change for you (to be up 2.5 hrs earlier or so)...
My sleep pattern:
10:00pm-2:30am CT
12:30pm-2:00pmCT

I'm not currently trading DIBS, but if I were, I would consider switching the patterns such that I would take a nap at night and get my core sleep in the afternoon.

See my link for much more information about it...
http://www.stevepavlina.com/forums/h...tml#post346094

Josh...
I hear ya. And once I'm demoing 4hr, I think I should probably be up a few hours earlier for London. Wife isn't going to like that, lol.
  • #34,708
  • Jun 24, 2009 9:11am Jun 24, 2009 9:11am
No need to miss sleep for the market, if you miss a few winners who cares as you missed a few losers as well it's a numbers game and you will come out on balance. If you have something that works just take them as they show up and get your sleep.
Keep taking CT trades, I need more money
  • #34,709
  • Jun 24, 2009 9:15am Jun 24, 2009 9:15am
Quoting Jduester
I hear ya. And once I'm demoing 4hr, I think I should probably be up a few hours earlier for London. Wife isn't going to like that, lol.
Take a tip from me Josh.

When you start trading 4H, pick a time slot and stick to it. I've just tried doing the "4H bars on 3 brokers" routine and not only does it scramble my head because it's had to effectively see price developing, it just kills the sleep and availability patterns. I felt like I was jumping down a timeframe to 1H even though I wasn't.

New plan is to sleep after setting daily order and wake pre London. Then check Alpari bars at 7am, 11am, 3pm, 7pm and daily close at 11pm. That way I get a feel for the flow of 4H price bar to bar. If it looks a really interesting and key then I'll switch over to fxpro or ODL just as I do on the daily, but I won't check them religiously.

The 4H is great. So many more opportunites and with all that patience I've learnt through months of demoing dailies it just seems so easy to wait for the good ones. That time solely on daily demo really pays off.

So full steam ahead on 4H demo and daily and weekly live.
  • #34,710
  • Jun 24, 2009 9:18am Jun 24, 2009 9:18am
Jduester,
wow, thanks for mentioning that site/forum.
i've never participated/looked for/seen a health, fitness,
& personal dev't forum, all in 1, before.
anything about health & fitness, i'm in.
i'm a health freak/ uber health buff
  • #34,711
  • Jun 24, 2009 9:25am Jun 24, 2009 9:25am
[quote=Alexandra;2825876]Indeed! No better purpose!

C'mon...buy some EURUSD with me - you can do it...c'mon![/quote]

Went long off the daily DBLHC, still in drawdown at the moment, beginning to wonder. http://www.forexfactory.com/images/icons/icon8.gif
  • #34,712
  • Edited 11:04am Jun 24, 2009 9:35am | Edited 11:04am
Quoting supremeChaos
...... i am currently checking charts.
the eurchf just moved 60+ pips in 1 minute. it's still ratcheting up.
other pairs seem to be not experiencing the same.

anyone know what's up with eurchf? news, probably?
news were out earlier, not in the last 2-3 minutes that i know of.

Hi There,

I read on Bloomberg website the other day that the Swiss central bank doesn't want to see EUR under 1.5 against the CHF. If you see the chart there is very clear evidence that they are serious about it. I am making a lot on this since then

As you see whenever it gets close to 1.5 there is a mass buying straight away, generating these sudden rallies. Wonder how long they want to fight the market...

I have a nice fat sell order at 1.4850 just in case. I bet i am not alone. Plus all the long stops are there too.
  • #34,713
  • Jun 24, 2009 9:35am Jun 24, 2009 9:35am
Quoting supremeChaos
raczekfx,
Another reason why u are 1 of my idols. x100
oh brother... I need to hide..
I don't need any fans...lol
  • #34,714
  • Jun 24, 2009 9:41am Jun 24, 2009 9:41am
Quoting raczekfx
oh brother... I need to hide..
I don't need any fans...lol
I wanna have your baby...
I'm pretty much done with all this ...
  • #34,715
  • Jun 24, 2009 9:42am Jun 24, 2009 9:42am
Quoting raczekfx
oh brother... I need to hide..
I don't need any fans...lol
too late for dat.....lol
Simplicity is the key to success
  • #34,716
  • Jun 24, 2009 9:43am Jun 24, 2009 9:43am
Quoting Ryanmcd
No need to miss sleep for the market, if you miss a few winners who cares as you missed a few losers as well it's a numbers game and you will come out on balance. If you have something that works just take them as they show up and get your sleep.
Smart. Proper sleep is a must for clear headed thinking and decision making. As fun as this all can be, missing proper sleep is a sure-fire path to burnout and burning accounts.
I'm pretty much done with all this ...
  • #34,717
  • Jun 24, 2009 9:44am Jun 24, 2009 9:44am
To bad Raczek im a fan too , lol
  • #34,718
  • Jun 24, 2009 9:48am Jun 24, 2009 9:48am
Quoting StoragePro
Smart. Proper sleep is a must for clear headed thinking and decision making. As fun as this all can be, missing proper sleep is a sure-fire path to burnout and burning accounts.
u forgot good food, dats a must....lol
Simplicity is the key to success
  • #34,719
  • Jun 24, 2009 9:49am Jun 24, 2009 9:49am
Quoting TiaForex
Take a tip from me Josh.

When you start trading 4H, pick a time slot and stick to it. I've just tried doing the "4H bars on 3 brokers" routine and not only does it scramble my head because it's had to effectively see price developing, it just kills the sleep and availability patterns. I felt like I was jumping down a timeframe to 1H even though I wasn't.

New plan is to sleep after setting daily order and wake pre London. Then check Alpari bars at 7am, 11am, 3pm, 7pm and daily close at 11pm. That way I get a feel for the flow of 4H price bar...
That sounds like a good plan. I am planning to start with only 1 4hr segment (the one matching my daily close (4:00pm CT))... would like to start 4hr demo 7/1 but I have some stuff I want to get done before that. Glad to hear things are going well on the 4hr demo.

I am in full agreement that these several (5 so far) months of daily/weekly only trading has given us patience that we would not have had any other way. Looking forward to 4hr, using only daily/weekly PPZ/round numbers as location at least initially. No blind 50/61.8FIB entries for me [yet ]

Josh
  • #34,720
  • Jun 24, 2009 9:55am Jun 24, 2009 9:55am
Quoting Schneeule
Hi, anyone sharing the same gold fate with me?
1st pt almost hit, sl at b/e.
50 % retrace not drawn...
Scheeule,

I'm right there with you Nice trade!
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