james16 Chart Thread | Page 1847 | 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

  • #36,921
  • Jul 9, 2009 12:54pm Jul 9, 2009 12:54pm
I know this don't hold much meaning...

index and forex temp out of correlation as well...
Attached Image
  • #36,922
  • Jul 9, 2009 12:55pm Jul 9, 2009 12:55pm
Quoting Ryanmcd
Some hints on what I do now on the 4hr, to me it's all about getting a long term winner when we have a trend. I posted a few days ago that it looks like we are starting to trend again and we did. Here is a chart of one of the treades that I am currently in and how I played it. Also I used the 1hr last night to try to get a better fill but that takes too much time and is really not worth it to me so it's 4hr only for add'ins on a trade....

Also Most ppl look for the huge pins, I look for the small ones due to not needing a huge move to make money...
Hi Ryan - I'm glad someone managed to catch some pips off yesterday's monster yen moves. I have a couple of questions about your trade:

1. At what point did you decide yeah we're now in a down trend?

2. To be fair that is a crappy little pinbar, there also was no divergence and you were trading right into the 95 big round number/PPZ. So what was the determining factor in your decision to enter short? Was is that you had already decided we were in a down trend and that the PB almost touched the middle BB?

Cheers
Simon
  • #36,923
  • Jul 9, 2009 12:56pm Jul 9, 2009 12:56pm
Quoting Matiasfx
Yes, Sp, all that u said and i also mean most of all the big ones, like NFP; BOE; FOMC etc.

While u were backtesting for example a nice pin bar and then price went strongly and directly to your TP..
Did u went back to see if that day we had some big release, and then proceed to delete that trade from the backtest results because when trading live, you know you are not going to trade news?
Most people don't do that, and if you traded news on backtest and you don't do it when trading live, you are just trading a different system that the one you...
hey Matty, you make a good point here. I did once try to map out the news on some charts but it wasnt really benificial as i remember. I dont think the suprises come that often to worry too much and even then in a bear market, unexpected good news doenst seem to make much difference to the market sentiment(unless of course its somwthing major or an intervention) where as if you are already short bad news can make you a killing!
I know there are many traders who ignore most of the news and the ones i have spoken to believe the market is usually allready possitioned??
jon
PATIENCE... DISCIPLINE
  • #36,924
  • Jul 9, 2009 12:58pm Jul 9, 2009 12:58pm
I tried summarize the understanding here you can see if it makes sense.
http://www.forexfactory.com/showpost...&postcount=162

Quoting AnimalHungry
Hi Ryan - I'm glad someone managed to catch some pips off yesterday's monster yen moves. I have a couple of questions about your trade:

1. At what point did you decide yeah we're now in a down trend?

2. To be fair that is a crappy little pinbar, there also was no divergence and you were trading right into the 95 big round number/PPZ. So what was the determining factor in your decision to enter short? Was is that you had already decided we were in a down trend and that the PB almost touched the middle BB?

Cheers
Simon
  • #36,925
  • Jul 9, 2009 1:00pm Jul 9, 2009 1:00pm
Curious ryan, how do you play CT trades (I know you've taken some). Just in and out real fast, take 1:1 or? Doesn't even seem worth it to play any CT at all, harder to catch, would think it better to go for a big profit target? Maybe not
  • #36,926
  • Jul 9, 2009 1:14pm Jul 9, 2009 1:14pm
Quoting g_j_hook@yah
hey Matty, you make a good point here. I did once try to map out the news on some charts but it wasnt really benificial as i remember. I dont think the suprises come that often to worry too much and even then in a bear market, unexpected good news doenst seem to make much difference to the market sentiment(unless of course its somwthing major or an intervention) where as if you are already short bad news can make you a killing!
I know there are many traders who ignore most of the news and the ones i have spoken to believe the market is usually...
Yes, i agree, if u try to always understand the news you "can" go nuts...

Just to clarify, im not saying that following news its not important, it depends on the trader, for example i know Mark (racz) follows some news and it works great for him!!! Its another tool he has, and after some time he understand them and know how they affect the markets sometimes, so he uses that to his advantage. (just for what i read, not trying to speak for Mark here)

I was making my point about avoiding them, with no other reason that they can shake the market and sometimes take u out.

-If u understand the news and works for you, trade them!!
-If you tested without skiping trading days(like me) and you know it works and makes money, trade them!!
-If u tested and u know they hurt your trading, avoid them!!

Just be sure if you are doing something, you are doing it for a good reason (that at least you know its true for you).
Just because some traders skip news days, doesn't mean i'm going to do it too if it makes no sense to me and the work i did.

Cheers
Mat
  • #36,927
  • Jul 9, 2009 1:21pm Jul 9, 2009 1:21pm
Quoting Matiasfx
.................Just because some traders skip news days, doesn't mean i'm going to do it too if it makes no sense to me and the work i did.

Cheers
Mat
I think this is the key phrase in this argument.
Nice to see you Matty, hope everything is going well for you.
Trax Tibidax Tibidox...
  • #36,928
  • Jul 9, 2009 1:26pm Jul 9, 2009 1:26pm
Quoting pipmyride
James in no way has to justify ANYTHING to you - come on here say you are not attacking yet you make judgments based on reading ONE page ???
Are you serious !
Very.
  • #36,929
  • Jul 9, 2009 1:28pm Jul 9, 2009 1:28pm
Ok, still about 3h to close of my daily but i'd like to hear what you think guys.
Here we've a possible pin bar formation.

I see a divergence on MACD, overall trend is up, see the trendline, 150EMA, strong PPZ.

But the pair is making lower highs.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: an.gif Size: 17 KB
Click to Enlarge Name: an2.gif Size: 18 KB
  • #36,930
  • Jul 9, 2009 1:29pm Jul 9, 2009 1:29pm
Thanks for all your replies to my question. It seems like few people understand my intentions. I'm still sceptical but also ready to dig in into this thread.

P.S.

I hope you folks are right.
  • #36,931
  • Jul 9, 2009 1:30pm Jul 9, 2009 1:30pm
Quoting masterpiecefx
Nice to see you Matty, hope everything is going well for you.
Hey Eddie!! Thanks a lot my friend! Nice to see u too, i hope your are doing well, we need to chat a while and catch up.

Mat
  • #36,932
  • Jul 9, 2009 1:35pm Jul 9, 2009 1:35pm
Quoting T.E.Lawrence
Thanks for all your replies to my question. It seems like few people understand my intentions. I'm still sceptical but also ready to dig in into this thread.

P.S.

I hope you folks are right.
Feel free to ask questions and post up charts too - and welcome to the thread! It is always smart as hell to have a jaundiced eye !
I'm pretty much done with all this ...
  • #36,933
  • Jul 9, 2009 1:36pm Jul 9, 2009 1:36pm
Quoting T.E.Lawrence
Very.

hi T.E.Lawrence, imho people have been a little harsh with you today, i think you asked a valid question, and i didnt see it as offensive. You can see by the reaction of the regulars here how they feel about jim doing this for the money!!. that should tell you something.
my own personal view here is that i dont see why he shouldnt make something by teaching us what he knows.Why not, i feel very lucky to be able to get this stuff for free! And the small fee he charges for the PF is almost free compared to most..Also even if you dont feel that Jim,or any thread starter,is straight on the line that doesnt mean
a/ you cant learn something,
b/ you Have to give your money away!
I can only say to you READ THE THREAD, it is gold! after that you can make your own mind up!?
jus mo
jon
EDIT: after bob the nob payed a visit i think people are still a little defensive.? lol
PATIENCE... DISCIPLINE
  • #36,934
  • Jul 9, 2009 1:38pm Jul 9, 2009 1:38pm
Quoting AnimalHungry
Hi Ryan - I'm glad someone managed to catch some pips off yesterday's monster yen moves. I have a couple of questions about your trade:

1. At what point did you decide yeah we're now in a down trend?

2. To be fair that is a crappy little pinbar, there also was no divergence and you were trading right into the 95 big round number/PPZ. So what was the determining factor in your decision to enter short? Was is that you had already decided we were in a down trend and that the PB almost touched the middle BB?

Cheers
Simon

I trade lots of small crap PB's all day long, what I look at is risk, It's just like playing a inside bar to me, if it's 30 pips risk for 2% thats great, I hate the HUGE PB's that need 150 pips for 2% because that's a huge run I have to get and 300 for 4% and that is not going to happen, just a different way to look at it. Also I posted I thought we where going to sell off as all the pairs where turning down at that time and my BB and a few MA's that I use to keep me in check of price said the same. Also no I am not going to share the MA's I use due to all the work I put in getting it setup.
Keep taking CT trades, I need more money
  • #36,935
  • Jul 9, 2009 1:50pm Jul 9, 2009 1:50pm
Quoting Matiasfx
Yes, Sp, all that u said and i also mean most of all the big ones, like NFP; BOE; FOMC etc.

While u were backtesting for example a nice pin bar and then price went strongly and directly to your TP..
Did u went back to see if that day we had some big release, and then proceed to delete that trade from the backtest results because when trading live, you know you are not going to trade news?
Most people don't do that, and if you traded news on backtest and you don't do it when trading live, you are just trading a different system that the one you...
Matty,
You make a good point. So maybe I need to go back and rebacktest... or just trade regardless of news... hmmm...It sounds like most place trades regardless of news. This is how I've backtested and frankly forward tested most of the time. So I guess I shouldn't have cancelled the order (E/G).... Lesson learned. Check.

Josh
  • #36,936
  • Jul 9, 2009 1:51pm Jul 9, 2009 1:51pm
This is Entirely My Own Opinion, unsolicited from anywhere.

I have been involved in this "Trading Business" for more than 30 years now. In that time I have been offered Many Grails for, what seemed to be, a great deal. I took a few of them.
Net Outlay, ~ $15,000.00.
Net Gain, ~ $25.00. Yeah, that's cruel. Probably closer to a couple of hundred or so.

All of them Told Me I would be Rich & that I should just keep trying {paying them} a little while longer.

Not one of them Ever said to me;
Y'know what, You've been a member for a year now & those fees you paid should cover the costs of carrying you into the future. How 'bout we call it even & you don't owe me{J16} another dime.

Does Jim make Money from this venture?
I damn well hope so because it is The Absolute Cleanest advice you are going to get Anywhere on the Web. & I Know it takes a Metric Tonne of his time to ensure that it stays that way.

Just incase you wern't aware. The PF also incudes Videos, Personal Help & a ton of support from PF Members regarding your individual situation.

btw. you know some of these guys already.
They work in both environments without asking for anything in return.

Much like J16 but his Costs are substantially higher.

Bill Garry.
Jake Bernstien.
Welles Wilder.
& the list goes on of those that are at the opposite end of the spectrum.

Do I think J16 is doing this for Money?
Absoflogginlutely NOT.

sorry Jim. but I know you would never have said this & I felt it had to be said. I'll sit down & be quite now with my pencil in hand.
What's Up...

Shhh. I know he's on vacation. So this post gets to soak for a while.
  • #36,937
  • Jul 9, 2009 1:52pm Jul 9, 2009 1:52pm
Quoting Ryanmcd
I trade lots of small crap PB's all day long,
I nominate a new price action formation: The Small Crap PB !!

AKA - SCPB :nerd:
I'm pretty much done with all this ...
  • #36,938
  • Jul 9, 2009 1:55pm Jul 9, 2009 1:55pm
Quoting StoragePro
It is always smart as hell to have a jaundiced eye !
I like that.
  • #36,939
  • Jul 9, 2009 1:57pm Jul 9, 2009 1:57pm
Quoting Bemac
This is Entirely My Own Opinion, unsolicited from anywhere.


Do I think J16 is doing this for Money?
Absoflogginlutely NOT.

sorry Jim. but I know you would never have said this & I felt it had to be said. I'll sit down & be quite now with my pencil in hand.
What's Up...

Shhh. I know he's on vacation. So this post gets to soak for a while.

The master is in the house!


Hi B. Everything is ICCEY lately.
I'm pretty much done with all this ...
  • #36,940
  • Jul 9, 2009 2:02pm Jul 9, 2009 2:02pm
Quoting StoragePro
The master is in the house!


Hi B. Everything is ICCEY lately.
Playin' it COOL SP. Playin' it cooool...
37 traders viewing now