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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

  • #38,841
  • Jul 24, 2009 12:41pm Jul 24, 2009 12:41pm
Well after lurking in the shadows in this thread, observing, learning and soaking it all in. In light of the recent "commercial" developments I would just personally like to thank everyone that continues to put in their time and anaylsis to help make people better traders. I myself blew out 3 accounts from over trading, over leveraging and just a lot of over everything. This thread and the people in it have taught me how to plan my trades better, be patient and be a better all around trader. Even though it isn't a huge amount I am trading, I am making consistant profit of $700+ per week.

So a great big thank you to James16 and all of the other contributors in here, it has been very much appreciated what you do.

And to the forexfactory taking this thread into the Commercial area, shame on you. Commercial my ass.

Will see how everything develops as I would like to be involved in the thread a little more but if not maybe just join James16 group and leave forexfactory. A real shame and just thought I needed to get my 2pips in as I am greatly disappointed in how forexfactory has treated this thread and James16's work. Unbelieveable.

Have a good weekend all!
  • #38,842
  • Jul 24, 2009 12:43pm Jul 24, 2009 12:43pm
Quoting aarangio
Wooooo Hoooooo!!..
i'm so excited!!.... after finding out my trading stop losses and buy/sells sucked this morning...I got this one bang on ..
Then again....maybe i just got lucky!!!!
Adrian,
like we told salisa. NO Fluke.

James16 method is simple.
imho, if u put in the time to learn & practice....
Then prepare to believe.
i dont care, if it's your 1st or 3rd demo or live trade...
if u put in the time & effort... There's NO Fluke...
Accept that it was a result of your well-spent time.
Accept the Profits. Acknowledge it/them. Believe in Yourself.
Repeat. Be & Get Consistent. That is (1 of) our goal/s.
Keep it up!
  • #38,843
  • Jul 24, 2009 12:45pm Jul 24, 2009 12:45pm
Quoting tac
Good analysis, but as I say there are always PPZ of some sort, what I do is if the nearest PPZ gives over RR 0.75 then I will consider trading it. If the setup isnt A then Ill take full profit.

Hey my fellows,
I am keeping closed track of the CADJPY and CADCHF fot the last two days....and see that it is in whole downtrend, but is in bullish in short...
at the time NOW...it started to be in consilidation to get the price down, then what i confuse here is ..if after consolidation...i will start to go up again or it has touch important ppz but failed to go futher up and prepare for the the downturn.

Hope you can help to give me the scenario as what you see as it is.
Thank you
fxngo
  • #38,844
  • Jul 24, 2009 12:46pm Jul 24, 2009 12:46pm
Quoting KissFan
My Gene Simmons costume is a work in progress. It's substantailly better than what you see on my avatar..... I haven't figured out yet what I can do to make my tongue appear longer....
Roger,
Simple....
Do it the Natural way....
Practice what we do & preach here.
Practice this --- , day in, day out. I dont care where/how u do it, just practice.
it WILL get longer. TRUST me.
  • #38,845
  • Jul 24, 2009 12:49pm Jul 24, 2009 12:49pm
Quoting bundyraider
(Edit:^^Anyone else getting pissed off with the way this forum cuts out most of our quotes now??^^)

Update GBP/NZD non-trade that I'm ...errr... not in... <bewahhahahahh!>
.....
yes, sometimes get pretty much pissed.
I just customize the quotes, like i often do.

love your golden bundy laugh.
bewahuhahahahahah!
(Please indulge me, it's 1.49am here)
  • #38,846
  • Jul 24, 2009 12:51pm Jul 24, 2009 12:51pm
Quoting gman29
Well after lurking in the shadows in this thread, observing, learning and soaking it all in. In light of the recent "commercial" developments I would just personally like to thank everyone that continues to put in their time and anaylsis to help make people better traders. I myself blew out 3 accounts from over trading, over leveraging and just a lot of over everything. This thread and the people in it have taught me how to plan my trades better, be patient and be a better all around trader. Even though it isn't a huge amount I am trading, I am...
Awesome ! Hope you do stick around here at the least I am sure others could gain a lot from your take on things too

Congrats on your success

Mike
  • #38,847
  • Jul 24, 2009 12:57pm Jul 24, 2009 12:57pm
Quoting gman29
Well after lurking in the shadows in this thread, observing, learning and soaking it all in. In light of the recent "commercial" developments I would just personally like to thank everyone that continues to put in their time and anaylsis to help make people better traders. I myself blew out 3 accounts from over trading, over leveraging and just a lot of over everything. This thread and the people in it have taught me how to plan my trades better, be patient and be a better all around trader. Even though it isn't a huge amount I am trading,...
well, it's about time u came out of your lurking cave!
Congrats.... i have blown more accounts than u did (although most likely my blown accounts are relatively much much smaller than yours). $700+/week is a handsome profit.
to put it in perspective, here in my country, u can live off of $200-700 PER MONTH (of course, it depends on a person's circumstance/s)

I believe there will be no changes here & in the pf (i'm not member yet).
what we are experiencing currently, i believe, is a minor turbulence.
So go on, make further posts here soon....
All will definitely appreciate it.
  • #38,848
  • Jul 24, 2009 12:57pm Jul 24, 2009 12:57pm
Quoting PeterFM
Nearly every post I read from many of you newer guys all talk about taking profits off the table as a trade progresses.

I understand the emotions behind this and had exactly the same feelings two years ago when I asked this question in this thread.

Although I'm not a great one for moving to BE either, I feel that you should be looking at the impact that partial profit taking may be having on your bottom line. If you're looking at this stuff correctly then you should have a clear...

Yep and that's why I stopped posting, then if you say something about it they bash you or some other crap that I really don't need to deal with, then all the other clutter messes with my trades, Hell I am still long the usd/jpy and added in 2% more on the pullback with divergence, up 20% on one trade is not to bad when I had 2% risk to start. If I read everything here I would be out of the trade all together and up maybe 3-4%. I wish people here luck but I just think most people do not get it and then because I am kinda harsh they think I am attacking them and give me crap back. Anyway if you add into your position on long term trends you will make a LOT of money in the long run.
Keep taking CT trades, I need more money
  • #38,849
  • Jul 24, 2009 1:06pm Jul 24, 2009 1:06pm
Quoting SeekingLight
...I am currently trying to do the crazy thing and catch up on the last 35-40ish pages of 40-per-page posts(you can adjust the per page in your profile options) and I'm just not managing to keep up. One of the main reasons I post so rarely is because I don't want to barge in and be out of context on the one hand...
...yes, 40 posts per page is the way to go..
I for one would like u to "barge in" anytime, no matter how late.

Quote
Necessarily since we're all looking at the same things, we end up looking at the same PA or situations as well
If I find something or think something might give a good example I'll try and put it up though...
Though we look at similar things often, it's nice to have different perspectives, especially from people "way back" like u.
I guess your post means we'll be expecting more "barging in" from u from now on....
Appreciate it!
  • #38,850
  • Jul 24, 2009 1:07pm Jul 24, 2009 1:07pm
Quoting raczekfx
Congrats... luck also has to be earned ..
Just like mine..(attached below)
.


No, there are better champs..


This is my last post on this thread for some time, ...at least until things here settle.

Be well. Trade well.

R

Yes have you thought about becoming an instructor, they post all after the facts/moves charts too, you would fit in, I heard there's a vacancy going?
  • #38,851
  • Jul 24, 2009 1:09pm Jul 24, 2009 1:09pm
So... I have not read through this thread. But I just joined the private forum and am enjoying the content there a lot. What is the opinion of the PF from the people in this thread? Do the people in the PF post here as well? I plan on reading this thread in addition to learning from what is in the member forum...
  • #38,852
  • Jul 24, 2009 1:13pm Jul 24, 2009 1:13pm
Quoting DarkDays
So... I have not read through this thread. But I just joined the private forum and am enjoying the content there a lot. What is the opinion of the PF from the people in this thread? Do the people in the PF post here as well? I plan on reading this thread in addition to learning from what is in the member forum...
Yeah you will find a lot of us posting both sides. We all are pretty addicted to this stuff LOL

See you on the other side, hopefully it leads to some BrightDays
  • #38,853
  • Jul 24, 2009 1:27pm Jul 24, 2009 1:27pm
Quoting DarkDays
So... I have not read through this thread. But I just joined the private forum and am enjoying the content there a lot. What is the opinion of the PF from the people in this thread? Do the people in the PF post here as well? I plan on reading this thread in addition to learning from what is in the member forum...
You bet we post here too. In fact, lately, there has been a lot more activity here than in the PF.
I'm pretty much done with all this ...
  • #38,854
  • Jul 24, 2009 1:33pm Jul 24, 2009 1:33pm
Quoting Ryanmcd
Yep and that's why I stopped posting, then if you say something about it they bash you or some other crap that I really don't need to deal with, then all the other clutter messes with my trades, Hell I am still long the usd/jpy and added in 2% more on the pullback with divergence, up 20% on one trade is not to bad when I had 2% risk to start. If I read everything here I would be out of the trade all together and up maybe 3-4%. I wish people here luck but I just think most people do not get it and then because I am kinda harsh they think I am attacking...
twopence worth: I run a business here in the uk successfully - we just had our 10th birthday and not one person has agreed with the way I run it over the years ... but guess what: it works for me and all of my staff and customers... the great thing about this business (trading) too is that it can work in so many different ways that suit each of us as individuals... there is no "right" way to do it - thats the beauty! sure some will make more than others but that is the way it works - right? some have more nerve, resolve, patience etc ... I am working with the character I have at this precise point in my trading career that will change and as it does I will adjust my style to suit
  • #38,855
  • Jul 24, 2009 1:53pm Jul 24, 2009 1:53pm
Quoting salisa
twopence worth: I run a business here in the uk successfully - we just had our 10th birthday and not one person has agreed with the way I run it over the years ... but guess what: it works for me and all of my staff and customers... the great thing about this business (trading) too is that it can work in so many different ways that suit each of us as individuals... there is no "right" way to do it - thats the beauty! sure some will make more than others but that is the way it works - right? some have more nerve, resolve, patience etc ... I am...

If you kill a trade @ 1% profit and risk 3% you are not going to make money. Something will happen, if you take a 150 pip stop and kill the trade +20 you will lose in the long term, I know this and have seen it happen, news, world events, computer dies, something will screw you and that is why I make MM and risk such a big deal. If you risking 100$ who cares, risking 50k well that's a lot different just in the mental terms. No one I know who trades and makes money risks 100 pips and takes 20 off, go over to avidtrader free chat and ask, they trade real money and when I scalped off the 3min I would risk 3 for 7-8 and had over a 50% win rate.

Yes it may work for a little while just like winning at cards, hell it may work for a few months or even a year or two, but after 10 years of doing this it will NOT work over time just as flipping a quarter and when you win you make 15c if you lose you lose 25c it does not work.


P.S. Just because you run a business does NOT = you can trade, in fact most people that do well outside of the market have a harder time trading because they where sucessfull in the past and it does not carry over.
Keep taking CT trades, I need more money
  • #38,856
  • Jul 24, 2009 2:10pm Jul 24, 2009 2:10pm
wooah easy tiger! I know I am a long way off and I don't extrapolate my success in business into trading in any way at all but don't think that there is ever only one way to do something.... some of your peers on here do it differently from you and still do well?... I am not going to advocate taking off at 1% as a strategy! that is as nuts as you say it is... my point is that there is not one way and one way only... i may be a newbie but please don't think that I don't understand the broader concept of risk reward... either way I have huge respect for you and know to pick your posts out of the crowd
  • #38,857
  • Jul 24, 2009 2:19pm Jul 24, 2009 2:19pm
Yo Ryan my man, your quote mate "If you kill a trade @ 1% profit and risk 3% you are not going to make money."

Isn't that what the creator of this thread does? He's loaded ent he?
  • #38,858
  • Jul 24, 2009 2:29pm Jul 24, 2009 2:29pm
Quoting Ryanmcd
Hell I am still long the usd/jpy and added in 2% more on the pullback with divergence, up 20% on one trade is not to bad when I had 2% risk to start. If I read everything here I would be out of the trade all together and up maybe 3-4%. I wish people here luck but I just think most people do not get it and then because I am kinda harsh they think I am attacking them and give me crap back. Anyway if you add into your position on long term trends you will make a LOT of money in the long run.
Same here.

In the early days I also took some profits if available and stop to BE and remainder got stopped out. In the end most of the trades with a win percentage lower or at least the same as the risk. This was in my indicator time when I didn't know why the hell I was in a trade. Now I'm closing in to PA which gives me a reason for the trade and a reason to take the profits.

I am also working on how to increase the load as the trade goes on. Currently I'm trying to add if price has broken and confirmed a major S&R area. In my opinion it is better to increase the volume than to start high and partially take profits because only the last added postion can go against me.

But maybe I am wrong with the increasing concept, just start trying this out but the decreasing concept did not work (for me).

stefx.
10 x 100 = 100 x 10, stefx, retired scalper.
  • #38,859
  • Jul 24, 2009 2:30pm Jul 24, 2009 2:30pm
hey you never know in 10 years time you will probably find me posting: trying to get your same message across to someone as naive as me!
  • #38,860
  • Jul 24, 2009 3:15pm Jul 24, 2009 3:15pm
Quoting Ryanmcd
Yep and that's why I stopped posting, then if you say something about it they bash you or some other crap that I really don't need to deal with, then all the other clutter messes with my trades, Hell I am still long the usd/jpy and added in 2% more on the pullback with divergence, up 20% on one trade is not to bad when I had 2% risk to start. If I read everything here I would be out of the trade all together and up maybe 3-4%. I wish people here luck but I just think most people do not get it and then because I am kinda harsh they think I am...
Hey Ryan, i can understand your frustration mate, but thats exactly why we need you here!! i can vouch for what you say as the biggest stumbling block to the growth of my account has by far been not letting my winning trades pay properly and not taking advantage of the moves i get in. i reckon my profits would litterally have been doubled if i had the experience needed to manage my trades well let alone milking a swing for all it was worth!!then theres that very blurry line between cutting your losses or killing a bad trade and letting a trade run or when to take profits!! a line which gets blurrier after a few cockups if your not carefull!lol..iv had about 50 trades from the gb/cad run over the last few weeks ,when i look back at my chart it could have been one and a few additions.
even though i did ok out of it i know in myself i could/should have done a lot better.
Do you know how difficult it is trying to work this stuff out for your self??( ye i guess u do but...)trying to filter the bs from all the threads you read!! not knowing what to take seriously or who to believe! takes a lot of time and testing when the net is the only place you can get the feedback. Look how long it took you and that was with a mentor.
so basicaly what im trying to say is that you are needed here and so i hope you keep posting when you can
cheers
jon
PATIENCE... DISCIPLINE
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