james16 Chart Thread | Page 1823 | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

Where can I learn more about Price Action like those in James16 charts? 9 replies

Attachments: james16 Chart Thread
Exit Attachments

james16 Chart Thread

  • #36,441
  • Jul 6, 2009 1:06pm Jul 6, 2009 1:06pm
Quoting ljr
Thanks Squeezy & Mike

I will manage this one closely.
hw is d usdchf trade doing, this is where i might hav taken my 2nd tp or i cld simply trail it and be above this current bar which coincides with the ppz above, so u cld jst be above that ppz if r not ready to close yet
cheers
Attached Image (click to enlarge)
Click to Enlarge Name: 80.1.gif Size: 22 KB
Simplicity is the key to success
  • #36,442
  • Jul 6, 2009 1:06pm Jul 6, 2009 1:06pm
Quote
thank you Chaos and Ghous, its a good feeling when the more experienced members coment on my trades and say good job

Sohail786,
u don't see +220pip profit as a good job?? Hmmmm... u seem to have a very high standard
To me, that is a GREAT job, don't be silly!
  • #36,443
  • Jul 6, 2009 1:11pm Jul 6, 2009 1:11pm
Quoting squeezy
yeah, u r right about my initial sl being 60-65 ish (i think), and i kno that wld be 3:1 in terms of risk:reward
i also do a quick calc based on where my nearest trouble area is and where i can move to to try n get 1:1
another thing i did was to watch usdchf since they are opposite to try to gauge whether ill get to my 1st tp or not
like to hear wat u think about hw i handled it....lol
wow! do u really think i can do the 5min, i kno ill probably get burnt out fast but if the risk:reward is worth it, i cld ........... (nevermind)
cheers...

I was saying don't trade a 4hr like a 5min chart, I take 15-20 pip on the 5min the 4hr on the eur/usd I go for 130 on this trade not 20 with a 60 pip stop. Also don't look at charts because you will start screwing with your trade, plan the trade, place it and then do NOT screw with it. I bet your goal on this trade was NOT 20 pips....
Keep taking CT trades, I need more money
  • #36,444
  • Jul 6, 2009 1:15pm Jul 6, 2009 1:15pm
hey Ryan..

Where can i read up on the method you employ to this stategy?

thanks
  • #36,445
  • Jul 6, 2009 1:20pm Jul 6, 2009 1:20pm
Quoting KissFan
Trade: Long two positions at 1% acct risk each entry long @132.64 Total risk is 2%. Potential Reward is 2.01%.
Stop Loss: Initial at 131.69
[size=3][font=Calibri]Management Strategy:[color=black][font=Calibri] when price reaches 132.92 my stop will...
I had the same setup in my charts but I saw it too late and the pin had already broken by 15 pips. I didn't want to chase it.
Nice trade
  • #36,446
  • Jul 6, 2009 1:22pm Jul 6, 2009 1:22pm
  •  kean
  • | Joined Sep 2008 | Status: James16group Lifetime Member | 92 Posts
Quoting Ryanmcd
To me divergence > S/R. If you get into this crap too much you start talking yourself out of trades then you take one that is a loss then you blow up a account, happens a lot. For me I trade what I know and what works on what I have been doing now about 10 years, I just add pinbars into it. Do I worry about the next resistance point? Not really, did I take a trade Mike passed on and made money? Yep 2x the usd/cad, does that mean anything? Nope. I tell you the day I faded my mentor and made money because something he did not see opened up a new world...
Hi Ryan,
I was wondering if there is anywhere on the forum that outlines the details your trading strategy/method. I hope you don't mind as I am very interested in your posts and would like to learn some more.
Thanks, Kean
  • #36,447
  • Jul 6, 2009 1:29pm Jul 6, 2009 1:29pm
Kean,

(And this goes for anyone who asks a similar question)

If you like someone's style and want to know more, go to their profile and click on their post history. Then spend a little time reading everything they've written.

I've done it with James16, Mbqb11, Darkstar and lots of others. It's a great way to spend a few hours. And it's the easy answer to the "where can I find more?" question.
  • #36,448
  • Jul 6, 2009 1:29pm Jul 6, 2009 1:29pm
Quoting squeezy
hw is d usdchf trade doing, this is where i might hav taken my 2nd tp or i cld simply trail it and be above this current bar which coincides with the ppz above, so u cld jst be above that ppz if r not ready to close yet
cheers

Hi.

Took 1st TP at 10850 and stop at BE now which is just above the PPZ you have marked. Going to wait until current 4H bar closes before I move stop again.
  • #36,449
  • Jul 6, 2009 1:34pm Jul 6, 2009 1:34pm
Quoting kean
Hi Ryan,
I was wondering if there is anywhere on the forum that outlines the details your trading strategy/method. I hope you don't mind as I am very interested in your posts and would like to learn some more.
Thanks, Kean

Read my old posts, I have not changed how I have traded for years, same base just added more PA to what I do. Look at the 5min thread, just do that on the 4hr and enjoy the cash.

http://www.forexfactory.com/showthread.php?t=163972

Change the time from 5min to 4hr
Keep taking CT trades, I need more money
  • #36,450
  • Jul 6, 2009 1:35pm Jul 6, 2009 1:35pm
Quoting bfd
Hi,

Where you have drawn a trendline matching the two swing lows, isn't it irrelavent at the moment until price has hit a third time?
Different traders have different opinions on how to draw trendlines. I was simply showing the divergence trend between price and the MACD oscillator.

K.I.S.S.
  • #36,451
  • Jul 6, 2009 1:37pm Jul 6, 2009 1:37pm
Quoting CkM8
I had the same setup in my charts but I saw it too late and the pin had already broken by 15 pips. I didn't want to chase it.
Nice trade
Thanks Checkmate.

K.I.S.S.
  • #36,452
  • Jul 6, 2009 1:44pm Jul 6, 2009 1:44pm
I understand Jim uses TradeStation for his charting. It also looks like TradeStation has become a brokerage instead of just a charting company. I contacted TradeStation but they do not offer brokerage accounts in Canada. So what is the best charting software? Anyone use esignal?
  • #36,453
  • Jul 6, 2009 1:48pm Jul 6, 2009 1:48pm
Quoting Ryanmcd
I was saying don't trade a 4hr like a 5min chart, I take 15-20 pip on the 5min the 4hr on the eur/usd I go for 130 on this trade not 20 with a 60 pip stop. Also don't look at charts because you will start screwing with your trade, plan the trade, place it and then do NOT screw with it. I bet your goal on this trade was NOT 20 pips....
ok, i see wat u mean ryan
thnx
ill work on wat u said
appreciate
Simplicity is the key to success
  • #36,454
  • Jul 6, 2009 1:49pm Jul 6, 2009 1:49pm
Long on EUR/GBP based on the break of the 1hr pin at the 50% fib of the upmove.
The area is also a PPZ on the 4hr chart that got broken and is getting retested
Attached Image(s) (click to enlarge)
Click to Enlarge Name: eg1hr.jpg Size: 192 KB
Click to Enlarge Name: eg4hr.jpg Size: 182 KB
  • #36,455
  • Jul 6, 2009 1:50pm Jul 6, 2009 1:50pm
Quoting ljr
Hi.

Took 1st TP at 10850 and stop at BE now which is just above the PPZ you have marked. Going to wait until current 4H bar closes before I move stop again.
nice trade
Simplicity is the key to success
  • #36,456
  • Jul 6, 2009 1:54pm Jul 6, 2009 1:54pm
Quoting Ryanmcd
To me divergence > S/R. If you get into this crap too much you start talking yourself out of trades then you take one that is a loss then you blow up a account, happens a lot. For me I trade what I know and what works on what I have been doing now about 10 years, I just add pinbars into it. Do I worry about the next resistance point? Not really, did I take a trade Mike passed on and made money? Yep 2x the usd/cad, does that mean anything? Nope. I tell you the day I faded my mentor and made money because something he did not see opened up a new world...

Hi Ryan, - I'm also long EU from last week.

Slightly different reason tho - trend is up and higher highs - higher lows.

Attached Image (click to enlarge)
Click to Enlarge Name: EURUSD.jpg Size: 126 KB
  • #36,457
  • Jul 6, 2009 2:00pm Jul 6, 2009 2:00pm
Quoting g5ricky
I understand Jim uses TradeStation for his charting. It also looks like TradeStation has become a brokerage instead of just a charting company. I contacted TradeStation but they do not offer brokerage accounts in Canada. So what is the best charting software? Anyone use esignal?
That is kind of like asking Asking "I want a piece of pie, what its the best kind?"

Many folks simply stick with MT4. It is simple and works fine.

A personal Favorite of mine is NeoTicker.

I have worked with Tradestation - and you can simply pay a monthly fee for the charting - at least you used to be able to. It is very good.

Another one is offered by Open eCry and others called ProEdge. It has a lot of nice features, and is also quite buggy at the moment. I see a lot of potential with it in the future.

Lots of traders like Ninja trader - but I have not looked at it.

For now, I recommend you stick with MT4 until you are way up the curve.
I'm pretty much done with all this ...
  • #36,458
  • Jul 6, 2009 2:07pm Jul 6, 2009 2:07pm
  •  kean
  • | Joined Sep 2008 | Status: James16group Lifetime Member | 92 Posts
Quoting TiaForex
Kean,

(And this goes for anyone who asks a similar question)

If you like someone's style and want to know more, go to their profile and click on their post history. Then spend a little time reading everything they've written.

I've done it with James16, Mbqb11, Darkstar and lots of others. It's a great way to spend a few hours. And it's the easy answer to the "where can I find more?" question.
Thanks Aaron...will do
  • #36,459
  • Jul 6, 2009 2:12pm Jul 6, 2009 2:12pm
  •  kean
  • | Joined Sep 2008 | Status: James16group Lifetime Member | 92 Posts
Quoting Ryanmcd
Read my old posts, I have not changed how I have traded for years, same base just added more PA to what I do. Look at the 5min thread, just do that on the 4hr and enjoy the cash.

http://www.forexfactory.com/showthread.php?t=163972

Change the time from 5min to 4hr
Thanks Ryan for your help,
  • #36,460
  • Jul 6, 2009 2:24pm Jul 6, 2009 2:24pm
Took this 4Hr BUOB, stop at bottom of bar entry at 154.40. Rounde number, nice bar, swing low, and some space.

As bar broke up 30 pips I used the bar break stop method and moved stop up to the breaking bar low. I used this method because this trade is somewhat CT which and could be rejected by many of the bar lows to the left even though I think it has some space and could possiblly get to 155.50-156. Right now the area to watch out for is the 155, if we can break this I will move up stop some more to lock in profit.

Any thoughts? comments? let me know. Thanks!

Attached Image (click to enlarge)
Click to Enlarge Name: gj.gif Size: 15 KB
39 traders viewing now