james16 Chart Thread | Page 1960 | 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

  • #39,181
  • Jul 28, 2009 8:57pm Jul 28, 2009 8:57pm
Ryanmcd
Long Term trader wantabe
Member Since Jul 2007
http://www.forexfactory.com/images/misc/10+kt.gif 1,052 Posts

http://static.forexfactory.com/forex...cons/icon1.gif
Quote:
Originally Posted by mbqb11 http://static.forexfactory.com/forex...s/viewpost.gif
LOL no 5min for me I am very content here

What skype thing? The yugma? yeah yugma works great

-Mike


I want something that I can interact with people on and they can do the same back, it will be free as long as they add something of value to it. Come to the dark side Mike
__________________
What about BOB???
>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>

yes, skype can be used free for chat, voice, or video(1 to 1, or conference calls).
and it used to have a sharing feature for people to share their desktops(ie. if you want to show your chart or see other's chart), it was in beta when i had skype on my computer.
  • #39,182
  • Jul 28, 2009 8:58pm Jul 28, 2009 8:58pm
just back from a 6-hour rest...

Quoting Basber
....
Is There Anyone Else Using ODL And Have 5 Digit ? I Hate This 6 Digit Numbers
Basber,
u can try & open a thread to look for an ODL 5-digit server (if one still exists).
Probably on the Trading Discussion Forum or Programming Forum.


Quoting johnnykanoo
...btw supreme are you filipino? my wife is filipina it is our dream to live there off my fx revenues when we are older.
Yes, I am Filipino.
Don't dream to achieve it when u are older --- u can achieve it at a much younger age (hey, u are still young!). study & practice hard for a good 5-10 years, i believe there will be a lot of improvement finance-wise c/o fx trading. Most people strive for Financial Freedom like u & me.
  • #39,183
  • Jul 28, 2009 9:00pm Jul 28, 2009 9:00pm
Quoting Jigsaw
.... Rollercoaster tycoon and other management games are a good way to get through it for me on spare screens .
I mostly trade outside bars on the 5Min, and I am a 1:4 R:R ratio man like yourself (Although my risk is normally .5 so no mad return days for me) You seem to stick to pinbars though or do you trade outside bars as well ?
Quote
For trading the 4HR I used to have 4 feeds that close at different times so you get a "4HR close everyhour" if you get me, that way you'll get more setups, I have no idea why people who trade the 4HR don't do that more. You get more action and at better places too...

im curious, what are all those Management games called?
on what pairs & for how long did u trade Outside bars on M5? how was your OB trade results compared to PB trades?
Like Jlr, i'd like to ask which 4 feeds did u use? a GMT broker until GMT + 4?
Thanks!



Quoting Jduester
FXaccucharts have a nice feature that you can offset all intraday timeframes... so I can set all 4 4hr closes with a 60 minute offset, 120min offset, etc... all 4 on one broker...
PFG Best used to offer fxaccu... not sure if they still do or if they moved over to MT4.
Thanks for sharing your insight on FXaccucharts.
i believe PFG now offers MT4.
  • #39,184
  • Jul 28, 2009 9:07pm Jul 28, 2009 9:07pm
Quoting Jigsaw
IBFX
FXPro
Alpari UK
Since march 29th Some broker changed the close of their 4HR for some reason and alas I have no feed that closes at 20.00GMT, I just have another feed running a candle aggregator and I look at that.
I think it was FXDD that I used before that....

IBFX is GMT
Alpari UK is GMT +2
FxPro is GMT + 3
FXDD is similar timezone with FXPro right.

(possibly irrespective of Daylight Savings time), GTL MT4 is 20.00GMT (GMT + 4)
i think Daylight Savings time affected this.
  • #39,185
  • Jul 28, 2009 9:13pm Jul 28, 2009 9:13pm
I use FXDD GMT + 3



Quoting supremeChaos
IBFX is GMT
Alpari UK is GMT +2
FxPro is GMT + 3
FXDD is similar timezone with FXPro right.

(possibly irrespective of Daylight Savings time), GTL MT4 is 20.00GMT (GMT + 4)
i think Daylight Savings time affected this.
  • #39,186
  • Jul 28, 2009 9:39pm Jul 28, 2009 9:39pm
Hello everyone,

What do u all think Of EJ for now?? Comments Pleaase.

aLLeRGiC
  • #39,187
  • Jul 28, 2009 9:55pm Jul 28, 2009 9:55pm
Quoting supremeChaos
im curious, what are all those Management games called?
on what pairs & for how long did u trade Outside bars on M5? how was your OB trade results compared to PB trades?
Like Jlr, i'd like to ask which 4 feeds did u use? a GMT broker until GMT + 4?
Thanks!

Thanks for sharing your insight on FXaccucharts.
i believe PFG now offers MT4.
Management Games : Any of the Sims, Railroads, Roller Coaster Tycoon 3 (A lot lately) Civilisations, Football manager 2009 is prob my fav. Any game that can be paused before bars close = great for trading.

I used to play left4dead and teamfortress2 but it's hard to concentrate on trading when your in the middle of capping the flag. What would happen is I would wake up at 6AM, it would be a S U P E R S L O W London open and then I'd nearly forget about the charts lol.

Getting paid to play games is good though , although some days it gets old super quick.



What Pairs - My 5Min system works on all pairs, Ive forward tested it out on 13 pairs on the 5Min and it works fine but spread obviously becomes a serious issue, a spread of greater than 3 = sucks. The usual suspects like EURUSD, GBPUSD, EURJPY etc it's all fine.

It's not that the OB results are better than the PB results, it's simply the fact that it's easier for me personally to define an OB than a Pin. While forward testing the pins I found I wasn't entering trades with confidence because sometimes noses would be long sometimes not, sometimes the close wouldn't be within the previous candle, sometimes this would work sometimes it wouldn't.

Long story short - Pinbars are fine and profitable but for me it's just so much easier to define OB's and make a concrete rule set out of it. It's harder to make a 15second decision on a pinbar rather than an OB, I still trade pins but like maybe 10 or 15% of the time, I just have a stricter set of rules for them I guess. I am sure I could have found a better way of defining the pins but it was a hassle.

How long - Since January I had the idea for it, I demo then traded it when I could while trading my real account, backtested it in that time, I then live traded it whenever I could for an hour or two at a time when I was in Uni, then since my term finished I've been livetrading it since.


Good 5Min pinbar example below, this is the kind of stuff that I wait for.
Attached Image (click to enlarge)
Click to Enlarge Name: 5min.jpg Size: 270 KB
  • #39,188
  • Jul 28, 2009 10:07pm Jul 28, 2009 10:07pm
Quoting layton
I use FXDD GMT + 3
Thanks for confirming "further" layton.




Quoting LasVahGoose
Well, if you have no charts it is difficult to understand what you are saying because every post you contradict yourself. I know you are trying to help, but I just cannot communicate with you.
Anyways, I really don't want to continue the conversation with you, I know what I did and my original post was direct to Ghous anyways...
....
LOL... what? that's what i get for being "MR. helpful"
well, u were sort of cranky in this post, but to be honest i expected a little more magnanimous & favorable response from u, Sir. (only because i tried to "help" as not all members here, like Ghous, are expectedly online most of the time ; Ghous needs to rest too, u know)

I did not find any part of my post contradictory; BUT, granted, i may have rambled
ghous posted charts earlier here & here with PPZs --i even thanked him for posting the eur$ chart "in behalf of me"; then shortly followed by rustyjeff's & Ryanmcd's charts --- i expected u to look at all these charts up & even your own IBFX charts as i mentioned in my last post ("...i got no charts, but u can check them out for your self.")

U are a more senior member here (u are an FF member since Nov2007) so i gave u credit to be more observant, more imaginative, more knowledgeable about PPZs, more self-reliant by looking up the charts/chart details i referred to. I guess i gave u too much credit.

Take care too.
  • #39,189
  • Jul 28, 2009 10:14pm Jul 28, 2009 10:14pm
Quoting Jduester
Yeah, I watched that same thing... awesome how well it followed your chart analysis. Now about that daily... Wish it had closed lower...

Josh
It would have been very nice if had closed where we wanted.... BUT.
It didn't. the point is to look ahead & find likely areas to watch.

when you do this enough you will see things repeat & then with confidence can start trying "blind entries". Hell, open another demo acct. & practise just that if you want.

you can never go broke demoing.... It works best on 1st touches.. , be ready to get to 'be' quick & play with it, levels & tp's... It will be fun & pass some time waiting for dailies.
I still demo alot.. even when i have a feeling that doesnt fit my plan..
Its an ever evolving process, becoming a trader. Its not like lightning strikes & you pocess the knowledge.
Even when I dont feel good mentaly, I will still demo. just not with real money..
There are so many ways to do this but people get caught up in trying to be right & not loosing, even on demo, that they forget to experiment & try new ideas.... doesnt mean you have to put money on them.....

Josh, by far, you are well on your way to getting wherever you want to be.
Remember, dont get caught up in hype & time & $$$$. relax & have fun with learning... cause you can......
cheers Jeff..
  • #39,190
  • Jul 28, 2009 10:19pm Jul 28, 2009 10:19pm
Jigsaw,
Management Games ----- NiceNiceNice.... lol

thanks for sharing your insights.
are u using any Candle Inidcator?
looking at those charts above, do u trade 2-3 correlated pairs all at the same time? or do u pick the best one from the lot?
I believe u have to re-post that on Jankone's thread as an added input there.

also i haven't replied to your post here... I guess u found your niche now on M5, huh. Good for u
  • #39,191
  • Jul 28, 2009 10:23pm Jul 28, 2009 10:23pm
Quoting LasVahGoose
Well, if you have no charts it is difficult to understand what you are saying because every post you contradict yourself. I know you are trying to help, but I just cannot communicate with you.

Anyways, I really don't want to continue the conversation with you, I know what I did and my original post was direct to Ghous anyways...
Take care.
Which one LVG?

I might have missed it sorry...
I believe . . .
  • #39,192
  • Jul 28, 2009 10:24pm Jul 28, 2009 10:24pm
Quoting supremeChaos
LOL... what? that's what i get for being "MR. helpful"
well, u were sort of cranky in this post, but to be honest i expected a little more magnanimous & favorable response from u, Sir. (only because i tried to "help" as not all members here, like Ghous, are expectedly online most of the time ; Ghous needs to rest too, u know)

I did not find any part of my post contradictory; BUT, granted, i may have rambled
ghous posted charts earlier here...
Hey Chaos easy buddy,

I guess LVG just misconstrued you or something...you're both quite friendly and helpful out here, and you both know it too.

Cheers

Ghous.
I believe . . .
  • #39,193
  • Jul 28, 2009 10:29pm Jul 28, 2009 10:29pm
Quoting rustyjeff
It would have been very nice if had closed where we wanted.... BUT.
It didn't....
Good post,

I too always have a demo account with some new idea or another, I think it was Darkstar who said something like "You start as a beginner learning forex on demo, then you go back to demo to master it"

Quoting supremeChaos
Jigsaw,
Management Games ----- NiceNiceNice.... lol

thanks for sharing your insights.
are u using any Candle Inidcator?
looking at those charts above, do u trade 2-3 correlated pairs all at the same time? or do u pick the best one from the lot?
I believe u have to re-post that on Jankone's thread as an added input there.

also i haven't replied to your post here... I guess u found your niche now on M5, huh. Good for u
I use correlations a lot in all of my trading, in the above example I think I traded the EURUSD because it looked stronger at the time on the EURGBP. I still trade the other timeframes, I just treat them differently and have a different set of rules.

If I am trading off my tiny 10inch webbook and on the move I use Hanovers PA identifier which is handy, back home with all the screens I don't bother because everything is super large and easy to see.

Jig
  • #39,194
  • Jul 28, 2009 10:29pm Jul 28, 2009 10:29pm
Quoting rustyjeff
It would have been very nice if had closed where we wanted.... BUT.
It didn't....
Some wise words there Jeff,

One of the best advices that can ever be given to newbies...still remember the time when I got off to a flying start with a couple of touch trades on my demo account (trades that rac took at the same places for the same reasons..IMAGINE!) and off I went trying to master the stuff on my live account.

Jeff's laugh at this in a pm still haunts me whenever I try to do something stupid.

Hear Hear ppl! the man's often battling strong winds and waves and swimming with sharks but when he's on his computer he's a helpful little gem.

Ghous.
I believe . . .
  • #39,195
  • Jul 28, 2009 10:33pm Jul 28, 2009 10:33pm
Quoting dengzhi
it's called overtrading.
there is over trading & then there is trading when you feel you have an edge , mentaly.

I think there is a distinct difference between trading in a negative emotion & a switched on positive emotion... Trick being, when positive to to recognise if its over confidence.. which happens often when we are new & thinking we have it down.

for me, not trading if I dont feel good is easy.. I just dont.. not even demo.

When I have had a run of success It becomes harder to say no... just like that girl at the bar you wouldnt talk to 2 hrs ago, but now after 8 beers she is looking not so bad..

but cause i have had this happen to me many times I see it now. So I stop, take a step back, & if I like the idea I demo it.
There is over trading & then there is trying new ideas... depends on how much money one risks...
  • #39,196
  • Jul 28, 2009 10:42pm Jul 28, 2009 10:42pm
Quoting ghous
Some wise words there Jeff,

One of the best advices that can ever be given to newbies...still remember the time when I got off to a flying start with a couple of touch trades on my demo account (trades that rac took at the same places for the same reasons..IMAGINE!) and off I went trying to master the stuff on my live account.

Jeff's laugh at this in a pm still haunts me whenever I try to do something stupid.

Hear Hear ppl! the man's often battling strong winds and waves and swimming with sharks but when he's on his computer he's a helpful little...
Thanks for the kind words, & yes I still laugh at that pm you sent me, cause it reminded me of me.... I have it saved by the way...

BUT to let you know i'm off again on thursday... bloody mates.. keep paying good money to sail their boats for them.. HA.. this is only 1 day though. from ft lauderdale to stuart florida. be back for asia sesiion. i hope....
  • #39,197
  • Edited 11:40pm Jul 28, 2009 10:50pm | Edited 11:40pm
ghous,
Thanks, absolutely no worries on my end.
I'm always cool. & i can always handle tough/ungracious/less cordial forum members.
I'm from Asia, i offered him a "late-night/midnight snack" (was very late, past 3AM to be exact, i was very sleepy, still i went out of my way to reply to him; i even praised him & patted his back for a profitable trade) then i get his last post in my "breakfast plate". in short, a "good karma/pay it forward" post got a ungracious post/reply in return.

Anyway, i have immediately put that behind me. Nothing biggie.
i try not to hold grudges in this forum, in the spirit of camaraderie.



Quote
I use correlations a lot in all of my trading, in the above example I think I traded the EURUSD because.....
If I am trading off my tiny 10inch webbook and on the move I use Hanovers PA identifier which is handy, back home with all the screens I don't bother because everything is super large and easy to see.
Jigsaw,
Like how large (& how many) are they? if u can share a pic next time, i'd appreciate it.
Thanks for confirming & clarifying Jig.
  • #39,198
  • Jul 28, 2009 10:56pm Jul 28, 2009 10:56pm
just to show what i mean by developing as a trader..


I am horrible at holding positions long term but I am trying to change that.
I do scalp.
I hate going negative..

but as a learning process I am demoing some trades. I will show you one.

Its not important to me weather this trade works or not but it is a lesson in sticking with the original plan till pa tells me otherwise.

I entered on the break of first pin & I thought this was a good area so wanted to give it some time.

It went to 1st supp as you would expect & this is where i normally get out.

I held, & whats more re-entered on the next pin, original plan still intact...

The 3rd pin i did not re-enter as I dont like the continued retesting of an area without breaking more in the other direction. NOTE. this can be seen on all time frames.

result is I'm still down & sl is in original place. I have not made money but I have held a position which I believe in....

Its all about learning constantly & trying things.. best thing about this is we dont have to loose money learning...
Attached Image (click to enlarge)
Click to Enlarge Name: eugbp9.gif Size: 12 KB
  • #39,199
  • Jul 28, 2009 11:04pm Jul 28, 2009 11:04pm
Quoting rustyjeff
....BUT to let you know i'm off again on thursday... bloody mates.. keep paying good money to sail their boats for them.. HA.. this is only 1 day though. from ft lauderdale to stuart florida. be back for asia sesiion. i hope....
Wow, good awesome stuff. Trade & sail away, lol


btw, in your last post, i like your steadfastness & versatility. do u do/test that on H4 below charts too?
  • #39,200
  • Jul 28, 2009 11:10pm Jul 28, 2009 11:10pm
Quoting rustyjeff
just to show what i mean by developing as a trader..


I am horrible at holding positions long term but I am trying to change that.
I do scalp.
I hate going negative..

but as a learning process I am demoing some trades. I will show you one.

Its not important to me weather this trade works or not but it is a lesson in sticking with the original plan till pa tells me otherwise.

I entered on the break of first pin & I thought this was a good area so wanted to give it some time....
Great to see you here today Jeff. I learn a lot from you.

And I echo everything you say. My time in the research and development part of this business outnumbers my live trading time by over a hundred to one. I have four different demo accounts in which I am forward testing ideas that I have put through a backtesting process. I have some index cards of things I want to try when i have time.

I really enjoy the learning part. And by the time something gets to the stage where it goes live, I usually have confidence and it's fairly effortless. Then comes the managing of emotions, accumulation of experience, discretionary exit practices etc etc.

I never want to harden my mindset so much that I think I know it all. I never want to get arrogant or cocky.

I really do feel that there aren't enough hours in the day for me to do everything I want to do in this business. The actual trading is pretty mundane, apart from the psych stuff. The R&D is just a joy.
25 traders viewing now