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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

  • #38,401
  • Jul 22, 2009 1:28pm Jul 22, 2009 1:28pm
Quoting mbqb11
I had been watching this huge BEOB but when the next bar didn't break my rules say to cancel. Still could be the Bar in play though. For now at least

Mike
How hard it breaks the minor s/r 85..i don't know if momentum has been builded enough
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  • #38,402
  • Jul 22, 2009 1:30pm Jul 22, 2009 1:30pm
Quoting ghous
would you mind showing me your back Unlv,

I gotta give it a nice pat.
LOL Ghous, I do love this thread.

Once in a while I get frustrated, and I think we all do. Normally this is the first place I turn when I get frustrated, so often you guys see the worst of me.

A few weeks back, RyanMCD was posting. And I don't know what it is about RyanMCD, but his posts REALLY click with me. The harsh, no nonsense, brash posts are the reality of the situation.

And he took a few daily trades and was not nervous at all as they went into and out of profit. That really showed me the mentality of someone who is able to do this for a living.

He also took and posted a few loses, and responded with basically "it is a numbers game, doesn't matter".

This has helped immensly, so if he stops by, I want to thank him, and also thank you for your detailed explanation Ghous!
  • #38,403
  • Jul 22, 2009 1:30pm Jul 22, 2009 1:30pm
Quoting forexngo
How hard it breaks the minor s/r 85..i don't know if momentum has been builded enough
Yeah the 85 is the battle line for me. But all those bar lows where your last sell is, when that breaks usually that is good for a burst because of all the bar lows, the orderflow underneath gets blow up
  • #38,404
  • Jul 22, 2009 1:33pm Jul 22, 2009 1:33pm
Quoting forexngo
How hard it breaks the minor s/r 85..i don't know if momentum has been builded enough
Love the new charts dude, much cleaner and you wont go blind as quick.
I hear and I forget. I see and I remember. I do and I understand.
  • #38,405
  • Jul 22, 2009 1:39pm Jul 22, 2009 1:39pm
Quoting mbqb11
Yeah the 85 is the battle line for me. But all those bar lows where your last sell is, when that breaks usually that is good for a burst because of all the bar lows, the orderflow underneath gets blow up
yeah...i do expect for the battle off in a second for the winning side
  • #38,406
  • Jul 22, 2009 1:40pm Jul 22, 2009 1:40pm
Quoting tac
Love the new charts dude, much cleaner and you wont go blind as quick.
thank to you guys....i feel i am improved
  • #38,407
  • Jul 22, 2009 1:46pm Jul 22, 2009 1:46pm
Yen has a crappy pin bar might be worth a trade up to the bar highs there. Enter on the break
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I hear and I forget. I see and I remember. I do and I understand.
  • #38,408
  • Jul 22, 2009 1:51pm Jul 22, 2009 1:51pm
I was hoping for a better PA however I reckon it might still pierce 2 so keep ill watching. Any the seniors watching this zone?
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I hear and I forget. I see and I remember. I do and I understand.
  • #38,409
  • Jul 22, 2009 2:03pm Jul 22, 2009 2:03pm
Quoting tac
Yen has a crappy pin bar might be worth a trade up to the bar highs there. Enter on the break
I'm eye'ing this as well. Pretty much what my trade plan is exactly if I decide to take it depending on how it closes.
  • #38,410
  • Jul 22, 2009 2:06pm Jul 22, 2009 2:06pm
Quoting tac
I was hoping for a better PA however I reckon it might still pierce 2 so keep ill watching. Any the seniors watching this zone?
Yeah I would personally want the 2.00 to be piercing the PA itself to trade it, (Obviously the bar itself is more of a Neutral bar) Because if price comes back up at least your stop is protected.

I can't count the number of times pierced round numbers helped me out.

EDIT - @ Mike

Are you testing the MB trading version of Metatrader by any chance ?
  • #38,411
  • Jul 22, 2009 2:11pm Jul 22, 2009 2:11pm
Quoting Jigsaw
Yeah I would personally want the 2.00 to be piercing the PA itself to trade it, (Obviously the bar itself is more of a Neutral bar) Because if price comes back up at least your stop is protected.

I can't count the number of times pierced round numbers helped me out.

EDIT - @ Mike

Are you testing the MB trading version of Metatrader by any chance ?
I can't count the number of times either

Nope to your MB question, when it's all ready to go bug free count me in

Mike
  • #38,412
  • Jul 22, 2009 2:30pm Jul 22, 2009 2:30pm
Orders triggered! let see how it plays
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  • #38,413
  • Jul 22, 2009 2:30pm Jul 22, 2009 2:30pm
Quoting mbqb11
I can't count the number of times either

Nope to your MB question, when it's all ready to go bug free count me in

Mike
It is not bad right now, nothing serious at all wrong. Some of thet data is messed up, but not horrible
I'm pretty much done with all this ...
  • #38,414
  • Jul 22, 2009 2:32pm Jul 22, 2009 2:32pm
Quoting StoragePro
It is not bad right now, nothing serious at all wrong. Some of thet data is messed up, but not horrible
great I had just PMed Jig with the same question cause I haven't had time to check on it or keep up with the thread. Looking forward to the release then

Thanks SP
Mike
  • #38,415
  • Jul 22, 2009 2:48pm Jul 22, 2009 2:48pm
Quoting mbqb11
I had been watching this huge BEOB but when the next bar didn't break my rules say to cancel. Still could be the Bar in play though. For now at least

Mike
Hey Mike-

Had this broken, what would have been your expectation for taking profit? Looks like some trouble around 83 or so; maybe slightly higher.

Thanks,
-G
  • #38,416
  • Jul 22, 2009 2:51pm Jul 22, 2009 2:51pm
Quoting G550
Hey Mike-

Had this broken, what would have been your expectation for taking profit? Looks like some trouble around 83 or so; maybe slightly higher.

Thanks,
-G
Hey G, I had a zone around 83.45 PPZ area). I am about to run out will post a chart when I get back

Mike
  • #38,417
  • Jul 22, 2009 2:56pm Jul 22, 2009 2:56pm
chart for my friend.

Quoting forexngo
Orders triggered! let see how it plays
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  • #38,418
  • Jul 22, 2009 3:03pm Jul 22, 2009 3:03pm
Quoting StoragePro
It is not bad right now, nothing serious at all wrong. Some of thet data is messed up, but not horrible
So what's the deal a real ECN on MT4? so small spreads plus commission? SOrry Ill go to their website, but wanted to hear another view point.
I hear and I forget. I see and I remember. I do and I understand.
  • #38,419
  • Jul 22, 2009 3:12pm Jul 22, 2009 3:12pm
Quoting james16
chart for my friend.
Thank you, my boss!

If the 4H closes like this one...if it is the nice one to play, sir!

Yes, i know larger timeframe is the way should do...and to be honest, thi is the first time i play Tf1H chart to check my sensitive in the market and also to practice my MM(though real $ traded)

You are respected around here!
regards,
fxngo
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  • #38,420
  • Jul 22, 2009 3:26pm Jul 22, 2009 3:26pm
Quoting tac
So what's the deal a real ECN on MT4? so small spreads plus commission? SOrry Ill go to their website, but wanted to hear another view point.
Spreads are smaller than a traditional MT4 borker - and they vary slightly from moment to moment. I've seen E/U at 0 and no more than 2.5. If you look at the website, the spreads are right on the Forex page. Spreads can widen a lot before news, but that is a bank and liquidity thing, not a MBT thing.

There is commission - but that is not bad either. At the end of the day I am looking for execution, and I get that with them. I am not sure how micro lots (fractional mini's really) work out - but I trade mini's and I've had no problems with fills. Standard lot size is mini (10K).

With everything there are trade offs - the rollover costs are higher on MBT - it is the way they pay their liquidity providers.

EDIT --

BTW, it is a myth that ECN's are 'the best'. It is an option that works for the right situation, but a more retail style model like FXDD or FXCM works great too. It depends on what you want. Now if MBT would figure out how to add Futures, Stocks and options to MT4, that'd be cool...
I'm pretty much done with all this ...
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