james16 Chart Thread | Page 1889 | 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

  • #37,761
  • Jul 16, 2009 3:02pm Jul 16, 2009 3:02pm
Quoting jimboo
Can I just share some of my own personal experience with trading? ...I FEEL more at ease...

Anyway, thanks for listening!
I don't think you're going to get an argument from anyone here on that.

I think it's more about "Potential R:R"

It's like jumping into a Yellow Cab in New York 1/2 a block from an accident scene dead ahead.
{might have been better Walking this one. Shoulda seen THAT comin'}

I do understand your point & I think it deserves the time to cover that aspect agian.

(A)"Looks like it's goin' Up" is not a complete reason to Buy.
(B)"Looks like it's goin' Up for 150P to next Res" is a reason to Buy.

Does that mean if I'm in (B) scenario I should automatically risk 75P as a SL?
Of Course not.
Only the Historical Bars can tell you that.

Jimboo:
This post was not directly aimed at you but I thought you raised a good point that Others could learn from.
I just road your coattails.
  • #37,762
  • Jul 16, 2009 3:06pm Jul 16, 2009 3:06pm
Quoting Ryanmcd
You guys are lucky to have Mike, For me I may help people out a few times but after that they can go back and read, Mike keeps helping


*** TOO ALL THE NEW PEOPLE, WHAT YOU ARE ABOUT TO ASK IS NOT NEW AND HAS BEEN POSTED ABOUT 100+ TIMES, IF I AM INCORRECT I WILL GIVE YOU $100 ***

Ok then. What is the air speed velocity of a fully laden swallow??
  • #37,763
  • Jul 16, 2009 3:06pm Jul 16, 2009 3:06pm
Quoting moneybags
I have a feeling you won't lose much money Ryan.

All kidding aside though, people in here are lucky to have someone like Mike around. Great trader, knows this stuff inside & out, and is willing to help all the time. And explains in a very clear way.
This thread is now at 2500+ pages. That's one hell of an undertaking for all the new people. I feel bad for you guys...

Take care,
Tom
I am reading through the thread (page 58) and can say its well worth it. Many of my questions have been answered already. You don't have to read through the whole thread before you can trade demo, do it in conjunction while keeping up to date with the front end of the thread. Its amazing to see the PF being born, and regulars here posting for the first time.
I hear and I forget. I see and I remember. I do and I understand.
  • #37,764
  • Jul 16, 2009 3:10pm Jul 16, 2009 3:10pm
Quoting Bemac
I don't think you're going to get an argument from anyone here on that.

I think it's more about "Potential R:R"

It's like jumping into a Yellow Cab in New York 1/2 a block from an accident scene dead ahead.
{might have been better Walking this one. Shoulda seen THAT comin'}

I do understand your point & I think it deserves the time to cover that aspect agian.

(A)"Looks like it's goin' Up" is not a complete reason to Buy.
(B)"Looks like it's goin' Up for 150P to next Res" is a reason to Buy.

Does that mean if I'm in (B) scenario...

The key I am finding out after years of doing this is add'in into a winner not killing it, if I am in a trend trade and it's working out I will be looking at way to add into this position to make it work better and enjoy the run and use PA to add into the position, It's nice having a 2% risk trade make 15+%
Attached Image (click to enlarge)
Click to Enlarge Name: usdjpy.jpg Size: 103 KB
Keep taking CT trades, I need more money
  • #37,765
  • Jul 16, 2009 3:10pm Jul 16, 2009 3:10pm
Quoting rustyjeff
Ok then. What is the air speed velocity of a fully laden swallow??

Smart ass
Keep taking CT trades, I need more money
  • #37,766
  • Jul 16, 2009 3:11pm Jul 16, 2009 3:11pm
I meant to add, if you feel reading through the thread will take to long or is too much hard work, then I would say you aren't serious enough. I'm not even thinking about making money until probably next year, and then I will be happy to make positive each month. Right now want to learn to spot the best set-ups, see where price might stall whilst in my trade and spot when to exit.
I hear and I forget. I see and I remember. I do and I understand.
  • #37,767
  • Jul 16, 2009 3:12pm Jul 16, 2009 3:12pm
Quoting rustyjeff
Ok then. What is the air speed velocity of a fully laden swallow??
Much Less than a Prerigrine in a Stoop.

Moral:
Don't be Stooped.
  • #37,768
  • Jul 16, 2009 3:14pm Jul 16, 2009 3:14pm
Quoting rustyjeff
Ok then. What is the air speed velocity of a fully laden swallow??
African or European?
  • #37,769
  • Jul 16, 2009 3:14pm Jul 16, 2009 3:14pm
Quoting moneybags
I have a feeling you won't lose much money Ryan.

All kidding aside though, people in here are lucky to have someone like Mike around. Great trader, knows this stuff inside & out, and is willing to help all the time. And explains in a very clear way.
This thread is now at 2500+ pages. That's one hell of an undertaking for all the new people. I feel bad for you guys...

Take care,
Tom

Goto school for 12 years to become a doctor and make less then a fulltime good trader, now is this 2500 pages that hard? I have friends that are Doctors and I will say that trading is MUCH harder then that due to it not being the same everytime, you have no "routine" in trading, the perfect setup that worked last week may fail the next 4 trades this week. People are just lazy and that's why they will not make it in the market or run any business.
Keep taking CT trades, I need more money
  • #37,770
  • Jul 16, 2009 3:21pm Jul 16, 2009 3:21pm
Quoting Ryanmcd
Goto school for 12 years to become a doctor and make less then a fulltime good trader, now is this 2500 pages that hard? I have friends that are Doctors and I will say that trading is MUCH harder then that due to it not being the same everytime, you have no "routine" in trading, the perfect setup that worked last week may fail the next 4 trades this week. People are just lazy and that's why they will not make it in the market or run any business.
I would also add, be thankful that we have 2500 pages to study, its a blessing that so many years of knowledgeable traders answering questions showing trades/charts and developing in front of our eyes is captured and free for the fledgling trader to use.
I hear and I forget. I see and I remember. I do and I understand.
  • #37,771
  • Jul 16, 2009 3:24pm Jul 16, 2009 3:24pm
To the Daunted:
Would you rather that it be 2 pages long?
  • #37,772
  • Jul 16, 2009 3:28pm Jul 16, 2009 3:28pm
Quoting Bemac
To the Daunted:
Would you rather that it be 2 pages long?
I would rather it was the year 2309 and we could download the James16 thread straight to our consciousness through our brain to computer interface port. By then it wll be over 1 billion pages. So read it now before it grows any bigger.
I hear and I forget. I see and I remember. I do and I understand.
  • #37,773
  • Jul 16, 2009 3:30pm Jul 16, 2009 3:30pm
Quoting Ryanmcd
Goto school for 12 years to become a doctor and make less then a fulltime good trader, now is this 2500 pages that hard? I have friends that are Doctors and I will say that trading is MUCH harder then that due to it not being the same everytime, you have no "routine" in trading, the perfect setup that worked last week may fail the next 4 trades this week. People are just lazy and that's why they will not make it in the market or run any business.
Forgive me but I can't work you out. One minute you post with charts saying how easy trading is, then you flip flop and say it's more harder than becoming a Doctor?? What type of Doctor are you talking about, a Witch Doctor?

I can say Trading is much easier than being a Doctor who has to deal with different life and death situations everyday....give me a chart anyday, those Doctors are Hero's to me.
Just a boy playing with big bars.
  • #37,774
  • Jul 16, 2009 3:35pm Jul 16, 2009 3:35pm
Quoting jimboo
Forgive me but I can't work you out. One minute you post with charts saying how easy trading is, then you flip flop and say it's more harder than becoming a Doctor?? What type of Doctor are you talking about, a Witch Doctor?

I can say Trading is much easier than being a Doctor who has to deal with different life and death situations everyday....give me a chart anyday, those Doctors are Hero's to me.
I think he was pointing out that it takes a Doctor years to learn something that enables them to make money, so why should you expect trading to be any different, although I agree there is less to learn with trading. The bottom line is you cant compare occupations and say anyone is better than the the other, I couldn't do a doctors job and he couldn't do mine, without years of study and practice.
I hear and I forget. I see and I remember. I do and I understand.
  • #37,775
  • Jul 16, 2009 3:43pm Jul 16, 2009 3:43pm
Quoting jimboo
Forgive me but I can't work you out. One minute you post with charts saying how easy trading is, then you flip flop and say it's more harder than becoming a Doctor?? What type of Doctor are you talking about, a Witch Doctor?

I can say Trading is much easier than being a Doctor who has to deal with different life and death situations everyday....give me a chart anyday, those Doctors are Hero's to me.

That is incorrect, anyone can do the school and take the time to become a doctor, I know people after 15 years still can not trade due to EMOTIONS. Also let me know after a few years how you are doing, I wish you well but you have not even started so it's funny to see you say stuff when you have not traded before with a large account if any at all.

Also trading is easy, any 5 year old can do it, it's knowing when to close out the WINNERS as well as how to manage your money / emotions when you do it. Why do traders shoot up a office and kill 12 people if it's so easy to do?
Keep taking CT trades, I need more money
  • #37,776
  • Jul 16, 2009 3:46pm Jul 16, 2009 3:46pm
Quoting jarroo
Let's say I have $250,000 @ 3% is $7500.
$7500/50 pip stop loss = $150 a pip. (roughly)

If I took this Gbp/Jpy 4 Hour BUOB trade (and didn't take anything off the table ) it would be worth, 500 pip move x 150 a pip = $75,000

$35,000 would goto taxes.
Keep taking CT trades, I need more money
  • #37,777
  • Jul 16, 2009 3:51pm Jul 16, 2009 3:51pm
Spread betting: tax free trading in the UK.
The customer is always right!
  • #37,778
  • Jul 16, 2009 3:53pm Jul 16, 2009 3:53pm
Quoting Ryanmcd
That is incorrect, anyone can do the school and take the time to become a doctor, I know people after 15 years still can not trade due to EMOTIONS....
That's easy to answer, the Doctors you know and the Traders that failed didn't read this thread.

FWIW, I'm a live trader.
Just a boy playing with big bars.
  • #37,779
  • Jul 16, 2009 3:53pm Jul 16, 2009 3:53pm
Uncle Sam. or whatever Uncle it is in everyone else respective areas

Quoting Ryanmcd
$35,000 would goto taxes.
  • #37,780
  • Jul 16, 2009 3:54pm Jul 16, 2009 3:54pm
Quoting Ryanmcd
$35,000 would goto taxes.
Why are you not living in a Tax free Haven?
Just a boy playing with big bars.
27 traders viewing now