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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

  • #36,961
  • Jul 9, 2009 2:57pm Jul 9, 2009 2:57pm
heading out in about 3 hours.

thanks for the kind and experienced words.

he is right but i will add something to it.

why do i do this and try so hard to not be a money hound?

its really very simple.

why in the world would i want to put myself in those crosshairs if i dont need the money?

what do i mean by those crosshairs?

the payback that comes from knowing in your heart your doing something to take advantage of people and doing it anyway. sorry i just cant do that.

my life at this stage is about searching for things like inner peace, joy and becoming more aware of who i really am.

i know how to make money. the only thing that could ever screw that up is my freakin commy goverment and they may very well pull it off the way things are going.

going down the money hound road would be the exact opposite of who i am and what i need.

i would rather be shot.

next time i check in it will be about 40 degrees cooler than where i am now.

cant wait.

thank you Bemac,

jim








Quoting Bemac
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 &...
  • #36,962
  • Jul 9, 2009 3:01pm Jul 9, 2009 3:01pm
Just a thought Ryan, was that bob's nurse in your joke?
  • #36,963
  • Jul 9, 2009 3:09pm Jul 9, 2009 3:09pm
Quoting Im4age
Just a thought Ryan, was that bob's nurse in your joke?


lol prob.
Keep taking CT trades, I need more money
  • #36,964
  • Jul 9, 2009 3:09pm Jul 9, 2009 3:09pm
Quoting dzero
This i also find interesting to look on after day candle close. Resistance come to support lets see how it will play. On the moment down move is not as comfortable as i could wish but still bee looking on that. Would be interesting to hear your options too.
Thanks
Hi Dzero,
in the chart attached you can see my view. I'll wait to see PA...
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  • #36,965
  • Jul 9, 2009 3:14pm Jul 9, 2009 3:14pm
Quoting bakko85
Hi Dzero,
in the chart attached you can see my view. I'll wait to see PA...
Thanks for replay, that is what i mean by closing this day, than look what PA we can get tomorrow. As it is friday anything could happen, don't like too much trading on fridays.
  • #36,966
  • Jul 9, 2009 3:26pm Jul 9, 2009 3:26pm
Quoting Interceptor
Turned out nice again, as George would say.
Yes going OK. I'm still in with stop at BE. I don't see any obvious place to move my stop to. Will probably trail it with every 4H bar.

I think this could still move down quite a lot from here. Look how the weekly is shaping up.
  • #36,967
  • Jul 9, 2009 3:28pm Jul 9, 2009 3:28pm
Quoting Interceptor
Turned out nice again, as George would say.
nice trade Interceptor , that is one i was also waiting for but missed as i am not trading today.
i was gonna take one of its counter parts also when they broke.
still theres more around the corner
jon
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PATIENCE... DISCIPLINE
  • #36,968
  • Jul 9, 2009 3:33pm Jul 9, 2009 3:33pm
Quoting Ryanmcd
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 think in the same manner...in terms of risk only.

With that said, this is how I decide on weather to enter on PB breaks, or retracements. I generally enter on retrace on the BIG pins, because most of the time they retrace before breaking. The smaller pins I enter on a pure break.

This allows a couple of things:

- when I enter on retrace of the big pins, it obviously cuts down the pips I risk for my x% of risk. This helps out my R:R tremendously.
- also since many of the big pins do retrace, it cuts down on my drawdown and I get in on a better price
-it lets me get out with a small profit if the pin is not being broken with a good momentum.. I just exit and look for another trade. Allows better "BE" too if thats your thing.
- on the small pins when I enter on a break, its not a big deal because I don't need as much movement to get to 1:2 or 1:3 R:R

I combine the above with logical S/R to see if my R:R is realistic. If not, no trade, and I move on.

Ofcourse entering on a retrace can make more losses, since there are many that break, and don't fail, but thats where the picky selection come in. All part of the trade plan.

Just my style, YMMV, but thought I'd share.
  • #36,969
  • Jul 9, 2009 3:46pm Jul 9, 2009 3:46pm
at least i got these on my demo.
sos for the of topic charts
jon
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PATIENCE... DISCIPLINE
  • #36,970
  • Jul 9, 2009 3:51pm Jul 9, 2009 3:51pm
Quoting Bobstar
I actually got a friend to sign up to the PF and 85% of it is beginners journals. It's basically the same as what's on here, and you get to watch 'after the move' videos.
Videos from Mike are more intelligent as he seems more clued up with Money Management. All what's on there can be found here and on other forums like T2Win for free. The reason why it's free after a year is simple (it's basic business planning)

1: It keeps subscribers keen to get to the 12 months.

2: It keeps numbers up.

Do I care that he does it? Nope, I think he's a brilliant...
zzzzzzzzzz
Never say never.
  • #36,971
  • Jul 9, 2009 3:55pm Jul 9, 2009 3:55pm
Quoting razldazl
zzzzzzzzzz
LOL

BTW - I see you are located in Mallorca - BEAUTIFUL place.

My family and I are wanting to live in Spain someday. Someplace on the coast in the Barcelona area. Spain is a wonderful place.
I'm pretty much done with all this ...
  • #36,972
  • Jul 9, 2009 4:02pm Jul 9, 2009 4:02pm
Hi,

The bar in question hasn't closed yet, but lets treat this as an "if it did" scenario. I've spotted what I believe to be a very nice DBLHC on daily EURCAD, which bounced off of a PPZ area at 1.6150. BUT the high is sitting up against a PPZ arnd 1.6350. Even worse that resitance PPZ co-incides with the 61% fib retracement of the move down from the previous high in March, so it could resume going down from here.

I'm wondering how you guys would approach this.
1) Play it, but only set an entry above the 1.6450 area.
2) Ignore it, because it appears countertrend and too much resistance above.

Is this merely a question of how aggressive one's being, or is this completely a poor set up which should be avoided.

Thanks for any input.
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  • #36,973
  • Jul 9, 2009 4:40pm Jul 9, 2009 4:40pm
Quoting StoragePro
LOL

BTW - I see you are located in Mallorca - BEAUTIFUL place.

My family and I are wanting to live in Spain someday. Someplace on the coast in the Barcelona area. Spain is a wonderful place.
Yes its lovely. The only problem with the Barcelona area (for a foreigner) is the Catalan language business...much different to Castillan Spanish, and an important consideration for a family, education-wise etc...still it really is beautiful and I do feel fortunate!
Never say never.
  • #36,974
  • Jul 9, 2009 4:50pm Jul 9, 2009 4:50pm
here is one of those people im always talking about.

bitter, angry and negative.

these are the kind of people that you want to exclude from your life and circle of friends.

you hope the best for them and even help if you see a way but you never allow them to have influence in your life.

good luck bob,

jim



Quoting Bobstar
I actually got a friend to sign up to the PF and 85% of it is beginners journals. It's basically the same as what's on here, and you get to watch 'after the move' videos.
Videos from Mike are more intelligent as he seems more clued up with Money Management. All what's on there can be found here and on other forums like T2Win for free. The reason why it's free after a year is simple (it's basic business planning)

1: It keeps subscribers keen to get to the 12 months.

2: It keeps numbers up.

Do I care that he does it? Nope, I think he's...
  • #36,975
  • Jul 9, 2009 4:52pm Jul 9, 2009 4:52pm
Quoting razldazl
Yes its lovely. The only problem with the Barcelona area (for a foreigner) is the Catalan language business...much different to Castillan Spanish, and an important consideration for a family, education-wise etc...still it really is beautiful and I do feel fortunate!
hi razldazl, i used to live in Mallorca and i loved every minute of it! i remember well my walks through palma. beautiful!! it must be about now that the stage is put up in park del mar? i passed a few good nights there!
jon
p.s. i notice you dont post here often,please keep them coming.
PATIENCE... DISCIPLINE
  • #36,976
  • Jul 9, 2009 4:53pm Jul 9, 2009 4:53pm
Quoting joebryce
I love small bars.
Hey Joe, I wasn't trying to set a trap. Just from looking @ Your Chart, I couldn't help but see a Price Range that I think may, yet again, be challenged.
Attached Image (click to enlarge)
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That's all. Just a post to {not stop you from Trading} hopefully help you find a better Entry.
Trade On...
  • #36,977
  • Jul 9, 2009 4:55pm Jul 9, 2009 4:55pm
Quoting razldazl
Yes its lovely. The only problem with the Barcelona area (for a foreigner) is the Catalan language business...much different to Castillan Spanish, and an important consideration for a family, education-wise etc...still it really is beautiful and I do feel fortunate!
Had not occurred to me - I speak a little Spanish now, Better move down the cost a bit... ;-)
I'm pretty much done with all this ...
  • #36,978
  • Jul 9, 2009 4:58pm Jul 9, 2009 4:58pm
Quoting StoragePro
My family and I are wanting to live in Spain someday. Someplace on the coast in the Barcelona area. Spain is a wonderful place.
You are wellcome.
Just contact for any advise.
(sunglasses not for beeing cool but for the sunlight)
Trading: the skill of avoiding trades
  • #36,979
  • Jul 9, 2009 4:58pm Jul 9, 2009 4:58pm
thanks a5.

the truth is a wonderful thing.

jim

Quoting Area51
Hi T.E.Lawrence

[color=black][font=Verdana]Your point is understandable given the number of scammers in this business. However; after having read this entire thread I would say that there is almost no mention of the private thread in a manner that pushes forum members towards the private forum. If you search the thread for the $129 figure, you will find that in 36890 posts it is barley mentioned. James starts out with excellent advice and even implores people to not believe him but to try the method themselves...
  • #36,980
  • Jul 9, 2009 5:01pm Jul 9, 2009 5:01pm
Quoting james16
heading out in about 3 hours....
Get Outta Town Already. Down Time. No Laps or Berries allowed. Hey Kids... Hi Mom... Life is nice...
I'm long this Family Stuff & it feels right...
Relax friend. Your house is in order.

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