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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

  • #37,861
  • Jul 17, 2009 10:23am Jul 17, 2009 10:23am
Quoting batesmotel
Yes, perhaps a 20 pip scalp to major support at 1.0746

Good luck........on a Friday afternoon...

GregB

I didn't take it. But I'm on on GBP/CHF 1 hr pin. Just moved stop to BE seeing if it'll make a run for 1.7500. Not too confident on this trade so I moved my stop quick.
  • #37,862
  • Jul 17, 2009 10:54am Jul 17, 2009 10:54am
Quoting Ghettobuddha
I didn't take it. But I'm on on GBP/CHF 1 hr pin. Just moved stop to BE seeing if it'll make a run for 1.7500. Not too confident on this trade so I moved my stop quick.
Nice trade!

GregB
  • #37,863
  • Jul 17, 2009 11:16am Jul 17, 2009 11:16am
Quoting Ryanmcd
I am starting to use the support and resistance, the thing is I am a gun slinger, I take trades that look like crap to everyone else but make me money and to me each indicator that will make me close a trade out too fast such as resistance and support I dont really mess with. The BB and RSI show me if it's over-extended or not, if it goes over extended I CT it on the 5min as a hedge.
Yeah you have been at this for awhile, so it is a different story. Once you know as much as you do it is only about doing what works. Period.


I ALWAYS stress in this thread CLEAR PA, CLEAR S/R, CLEAR TLS, etc, b/c most people are so new to this getting "fancy" ends up a disaster. If you stick to the clear stuff and give yourself a chance to learn it as you go along. Everyone has their own "twists". That is why people in the pf see my intraday and are like HE DID WHAT! Then realize it is me combining what I know, not that I am being a bad boy or anything. LOL

I just try to get the new traders, that have lines every which way and then find some horrible iffy pin and trade it and then scratch their heads about what they did wrong, a fresh perspective. Sort of cleaning out your house and what you think works. Starting from the basics like James teaches. Also another reason why we try to get the new traders away from the lower timeframes. Not b/c a lot of us don't trade them, but b/c we know what their accounts will look like if they START there.

End mini rant for weekend

Mike
  • #37,864
  • Jul 17, 2009 12:31pm Jul 17, 2009 12:31pm
Quoting Ryanmcd
*** 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 ***
Man I wish it was possible to snatch that $100 from you but it's NOT. Everything is in here folks!!
Just reading the thread answers any of the questions you might have.
  • #37,865
  • Jul 17, 2009 12:51pm Jul 17, 2009 12:51pm
Quoting mbqb11
Yeah you have been at this for awhile, so it is a different story. Once you know as much as you do it is only about doing what works. Period.


I ALWAYS stress in this thread CLEAR PA, CLEAR S/R, CLEAR TLS, etc, b/c most people are so new to this getting "fancy" ends up a disaster. If you stick to the clear stuff and give yourself a chance to learn it as you go along. Everyone has their own "twists". That is why people in the pf see my intraday and are like HE DID WHAT! Then realize it is me combining what I know, not that I...
So true Mike, If I was JUST starting out I would do PB's with S:R ONLY and print out all my trades as well as take a screen print of it when I put the trade on because the ones that fail look different after they fail, hell I still do that today just to get better and make sure I did not miss anything

Like this It lost but it looks good so no biggie..
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Keep taking CT trades, I need more money
  • #37,866
  • Jul 17, 2009 12:52pm Jul 17, 2009 12:52pm
Quoting CkM8
Man I wish it was possible to snatch that $100 from you but it's NOT. Everything is in here folks!!
Just reading the thread answers any of the questions you might have.
Now, now....come on....u were a newbie once too., we gotta work together here u know...

GregB
  • #37,867
  • Jul 17, 2009 1:09pm Jul 17, 2009 1:09pm
Quoting Ryanmcd
So true Mike, If I was JUST starting out I would do PB's with S:R ONLY and print out all my trades as well as take a screen print of it when I put the trade on because the ones that fail look different after they fail, hell I still do that today just to get better and make sure I did not miss anything

Like this It lost but it looks good so no biggie..
Oh man do I remember the days of just staring at charts, printing each bar out, staring, taking them with me every where. Looking at every little detail, making a bajillion(yes that is a number amount with the amount of charts and data I put together) spreadsheets/screenshots/printouts. I swear I never slept and my eyes were coming out of my head, but I wouldn't trade any of that time for anything. I couldn't sleep b/c when I closed my eyes I guess from staring at the monitors the charts were in my eyes and head, and I would see flashes of them, keeping me up(insomnia). Same thing happened with my poker days, cards would just flicker everytime I shut my eyes. Sleep deprivation to say the least.

Hopefully others follow your lead ryan

Mike
  • #37,868
  • Jul 17, 2009 1:24pm Jul 17, 2009 1:24pm
Quoting mbqb11
Oh man do I remember the days of just staring at charts, printing each bar out, staring, taking them with me every where....
Great advice here, I will be capturing my trades entry and exit via Jing and annotating them, before and after. After all daily/weekly TF rifle trading will afford you that time. To look back and learn from each trade for me is great advice , thanks guys. Hey Mike and Ryan, im on page 70 (Sept 06) of the backside of the thread, you guys haven't appeared yet? Seeking Light and Peter are just posting for the first time..sorry if I am giving a running commentary of the thread.. ill stop that.

Tac
I hear and I forget. I see and I remember. I do and I understand.
  • #37,869
  • Jul 17, 2009 1:28pm Jul 17, 2009 1:28pm
Hey everyone, been hanging in another cave a lot but here is where I've learned the most so, at the request of several PM's as to what I did this week, here it is. Only one trade this week on the GU for which I waited all week watching the 1H & 4H charts. The last 36 hours of which prior to the trade was the hardest "paint drying view" I've had to date...LOL Trade started around 1 or 2 AM (not really sure as I was kind of blurry eyed).


A 3 part trade starting with 3 standard at 6435 (wanted 6450 but fell asleep...) The checks were my intended targets (hope you don't mind me borrowing the checks idea Jarroo...) The first TP was hit but never made the second one. Took the first lot at TP1, moved my stop to 6335 where I allowed it to be hit for the remaining two lots. (I'm not greedy and you all know my situation..lol)

Sorry I only have the beginning of the trade in a chart but it ended like this. I still think the 6220 target is valid but I'm out. Might look to get back in Monday if PA confirms. (Excuse the TL's, I'm learning)

first lot +115
two more +100

Have a GREAT weekend everyone and thanks for everything!!!
Attached Image (click to enlarge)
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Ghost Rider - WWTBMD?
  • #37,870
  • Jul 17, 2009 1:29pm Jul 17, 2009 1:29pm
Quoting tac
Great advice here, I will be capturing my trades entry and exit via Jing and annotating them, before and after. After all daily/weekly TF rifle trading will afford you that time. To look back and learn from each trade for me is great advice , thanks guys. Hey Mike and Ryan, im on page 70 (Sept 06) of the backside of the thread, you guys haven't appeared yet? Seeking Light and Peter are just posting for the first time..sorry if I am giving a running commentary of the thread.. ill stop that.

Tac

Here is 1 more post for you to read I got on in 2008ish in here.
Keep taking CT trades, I need more money
  • #37,871
  • Jul 17, 2009 1:31pm Jul 17, 2009 1:31pm
Quoting mbqb11
Oh man do I remember the days of just staring at charts, printing each bar out, staring, taking them with me every where. Looking at every little detail, making a bajillion(yes that is a number amount with the amount of charts and data I put together) spreadsheets/screenshots/printouts. I swear I never slept and my eyes were coming out of my head, but I wouldn't trade any of that time for anything. I couldn't sleep b/c when I closed my eyes I guess from staring at the monitors the charts were in my eyes and head, and I would see flashes of them,...

To be honest Mike everyone I know that makes it in this biz has a form of OCD and spends all the free time looking at charts or did at 1 time. I did the same thing back in my computer days, I read 8000 pages and past 18 Microsoft test in 1 year lol
Keep taking CT trades, I need more money
  • #37,872
  • Jul 17, 2009 1:41pm Jul 17, 2009 1:41pm
Quoting mbqb11
Oh man do I remember the days of just staring at charts, printing each bar out, staring, taking them with me every where....
I know I spend a lot of time reading posts on FF and general chart reading. My eyes are sore as all go get . . . but hey? You do what you gotta do to be successful in this business. I'll never quit.
"Don't trade to trade . . . trade to win." - James16
  • #37,873
  • Jul 17, 2009 1:43pm Jul 17, 2009 1:43pm
Man, the yen crosses are going berserk right now. Did they just catch Bin Laden?
"Don't trade to trade . . . trade to win." - James16
  • #37,874
  • Jul 17, 2009 1:53pm Jul 17, 2009 1:53pm
Quoting Flem26
Man, the yen crosses are going berserk right now. Did they just catch Bin Laden?

I bought some usd/jpy yesterday and told it to go up.
Keep taking CT trades, I need more money
  • #37,875
  • Jul 17, 2009 1:53pm Jul 17, 2009 1:53pm
Quoting tac
Great advice here, I will be capturing my trades entry and exit via Jing and annotating them, before and after. After all daily/weekly TF rifle trading will afford you that time. To look back and learn from each trade for me is great advice , thanks guys. Hey Mike and Ryan, im on page 70 (Sept 06) of the backside of the thread, you guys haven't appeared yet? Seeking Light and Peter are just posting for the first time..sorry if I am giving a running commentary of the thread.. ill stop that.

Tac
hehe I was hiding in the background for awhile. Then decided to register to FF thinking I would never post, picked a name from a long long time ago(again didn't think I would post). 10k posts later LOL
  • #37,876
  • Jul 17, 2009 2:27pm Jul 17, 2009 2:27pm
Quoting mbqb11
Oh man do I remember the days of just staring at charts, printing each bar out, staring, taking them with me every where....
Crap, Same thing happens with me and trading. I will be driving or taking the dog for a run and I start seeing trading scenarios pop out of nowhere. When I played poker too I'd have random cards pop in my head at the weirdest times. Same thing happened when I was growing up and would play Tetris. LOL
  • #37,877
  • Jul 17, 2009 2:47pm Jul 17, 2009 2:47pm
Quoting tac
Great advice here, I will be capturing my trades entry and exit via Jing and annotating them, before and after. After all daily/weekly TF rifle trading will afford you that time. To look back and learn from each trade for me is great advice , thanks guys. Hey Mike and Ryan, im on page 70 (Sept 06) of the backside of the thread, you guys haven't appeared yet? Seeking Light and Peter are just posting for the first time..sorry if I am giving a running commentary of the thread.. ill stop that.

Tac
You got a long way to go, but it's worth it Tac. People should be thankful that a thread like this exists at all.
As a side note, when I first came to read this thread the last page was like #60. hehe good times

Good luck
Tom
  • #37,878
  • Jul 17, 2009 2:50pm Jul 17, 2009 2:50pm
Quoting albchr
Hey everyone, been hanging in another cave a lot but here is where I've learned the most so, at the request of several PM's as to what I did this week, here it is. Only one trade this week on the GU for which I waited all week watching the 1H & 4H charts. The last 36 hours of which prior to the trade was the hardest "paint drying view" I've had to date...LOL Trade started around 1 or 2 AM (not really sure as I was kind of blurry eyed).


A 3 part trade starting with 3 standard at 6435 (wanted 6450 but fell asleep...) The checks were...
Hey Chris,

What was the trigger for this trade?
  • #37,879
  • Jul 17, 2009 3:11pm Jul 17, 2009 3:11pm
Quoting moneybags
Hey Chris,

What was the trigger for this trade?
Not "strictly" J16 PA (and a few other factors) but, that combined with what I've learned about candles. Unable to break 6450 for two days and a nice spinning top on daily combined with bearish weekly prior two weeks.

All these combined factors gave me confidence it was a high probability trade. Once it broke out of that 36 hour slump that is...LOL
Attached Image(s) (click to enlarge)
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Ghost Rider - WWTBMD?
  • #37,880
  • Jul 17, 2009 4:52pm Jul 17, 2009 4:52pm
I was out this past week for a family vacation on Green Lake, WI... very fun. Just got back to the civilized world... have 783 messages to read on this thread and a bunch more on CW's thread...guess I have my weekend scheduled now!

Looks like there were some great opportunities for some daily and 4hr trades guys... looking forward to seeing how everyone did.

Will be back on sometime tomorrow to get caught up.

Josh
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