james16 Chart Thread | Page 2039 | 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

  • #40,761
  • Aug 12, 2009 10:12am Aug 12, 2009 10:12am
Quoting benji533
Mike, reading these kind of posts from someone like you make me smile. It's like something inside me is stressing that the way to financial freedom everyone looks for, is real, and it is one step away. We have here something so many others are dreaming to have.

Thank you.

Ben
And reading posts like this make me smile

I promise you that.
  • #40,762
  • Aug 12, 2009 10:20am Aug 12, 2009 10:20am
Question for you all...

It looks like USD weakness across the board....It seems that there will be a whole bunch of nice daily setups, all of them on USD weakness (actually UJ is leaning to USD strength).

Q1. Do we take all the setups and spread the risk around, or do we just pick the best "Primo" setup and add a little extra risk on that one?

I'm not trading 4hr yet....but it seems that those smaller TF trades today are a preview for the daily setups....

Anyways, I would appreciate some of your responses.....

GregB
  • #40,763
  • Aug 12, 2009 10:21am Aug 12, 2009 10:21am
Quoting tradertt
Yeah maybe I was too "afraid" to let it run so I usually put TP slightly below the high/low
Yes, precisely why i mentioned "personal preference".
Im pretty sure u will become less "afraid" once u become confident from learning, practicing & applying this method further..


Quoting caseyjw
Warning - not a price action trade....
Nice one, Casey.
u may have traded it jacko-style, but u highlighted in your chart a beautiful PB (with huge nose) that's off a round number & a TL.


letitride,
same Nice trade. & good emphasis on the MACD bull.divergence
  • #40,764
  • Aug 12, 2009 10:24am Aug 12, 2009 10:24am
Quoting supremeChaos

Nice one, Casey.
u may have traded it jacko-style, but u highlighted in your chart a beautiful PB (with huge nose) that's off a round number & a TL.

Thought you guys might appreciate it
  • #40,765
  • Aug 12, 2009 10:26am Aug 12, 2009 10:26am
batesmotel,
we always try to pick the best setup.
Once better & more experienced, then we can take on multiple "identical" setups & trade them accordingly (meaning trade each according to corresponding S&R's, PPZs, etc).
  • #40,766
  • Aug 12, 2009 10:34am Aug 12, 2009 10:34am
Quoting mbqb11
updated chart.
Yeah Mike good call , I took profit on my short at 0.6612, just below those pesky bar highs, was a good place to TP in hindsight. I knew it would bounce off those, and being a counter trend trade I took 270 pips off the table.

Now I might go long with the trend if that pin bar plays out

Wish I was trading the 4hr those JPY pins are tasty looking. Soon, Soon.

Good Pips

Mark
I hear and I forget. I see and I remember. I do and I understand.
  • #40,767
  • Aug 12, 2009 10:35am Aug 12, 2009 10:35am
Quoting Rocket!
Was in on the gbp-yen trade with you guys. Got in at 157.47 with stop at the end of the pin and target at 158.90

After going +30 up I moved to BE. Sure enough, it retraced to 157.49, took my stop and went off like a rocket! Same thing happened yesterday on CAD-CHF Weekly pin(will post later) and I know we count Break evens as a win, but its kinda of annoying to see your winners hit their targets... with you out of the trade that is!

So, my question is, how to you guys handle going to break even? Whens a good point to move it up to BE? I...
My only tip is that with GJ - all rules need bending ! So moving to BE at the wrong time, this will happen A LOT.

Knowing when to BE is the 6 million dollar question with GJ ... i tend to give it more wiggle room , although it can hurt the heart ..
  • #40,768
  • Aug 12, 2009 10:36am Aug 12, 2009 10:36am
Hey people what a day!

Just thought I'd add some of the other trades I took today since most people fancied EJ the best.

Eur/Nzd was a risky one. But sold it on a retracement and lowered the risk

Happy Days!

Mark.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: nj.gif Size: 21 KB
Click to Enlarge Name: cj.gif Size: 23 KB
Click to Enlarge Name: cadjpy.gif Size: 21 KB
Click to Enlarge Name: en.gif Size: 22 KB
Time for a new chapter
  • #40,769
  • Aug 12, 2009 10:45am Aug 12, 2009 10:45am
Quoting mbqb11
The answer? No they don't.

Did I trade Monday? Nope. did I trade tuesday? Nope. It's a waiting game. B/c the taking candy from babies bars COME.
Mike says that days like this come.... we all believe him ... I know it to be true from backtesting.... so why oh why do I ever bother to trade the b- bars?

lesson for tomorrow= believe mike and jim!
  • #40,770
  • Aug 12, 2009 11:03am Aug 12, 2009 11:03am
Quoting Rocket!
Was in on the gbp-yen trade with you guys. Got in at 157.47 with stop at the end of the pin and target at 158.90

After going +30 up I moved to BE. Sure enough, it retraced to 157.49, took my stop and went off like a rocket! Same thing happened yesterday on CAD-CHF Weekly pin(will post later) and I know we count Break evens as a win, but its kinda of annoying to see your winners hit their targets... with you out of the trade that is!

So, my question is, how to you guys handle going to break even? Whens a good point to move it up to BE?...
Same exact thing happened at my end!! Anyway Cheer up mate
There will sure be another setup jumping at you from the corner!!
"""" --- -- - << ..:: ALM ::.. >> - -- --- """"
  • #40,771
  • Aug 12, 2009 11:04am Aug 12, 2009 11:04am
hi all,
posting some of my old charts, from the beginning of july.
i didn't take all of these setups, only the best-looking ones(those with a lot of space).
i hope, it might help some of you to see the difference between A+ and the average setups and i think it also shows that there are plenty of signals every day.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: gj.jpg Size: 176 KB
Click to Enlarge Name: ej.jpg Size: 218 KB
Click to Enlarge Name: uc.jpg Size: 198 KB
  • #40,772
  • Aug 12, 2009 11:05am Aug 12, 2009 11:05am
I know this is a totally subjective thing, but trading this method on daily and 4 hour, I reckon a Monthly ROI of between 4-12% could be achieved. I suppose it depends on your risk and style. Do any the seniors have any knowledge of realistic ROI (assuming you have are consistently profitable, not a new trade)?
I hear and I forget. I see and I remember. I do and I understand.
  • #40,773
  • Aug 12, 2009 11:06am Aug 12, 2009 11:06am
Quoting markf45
Hey people what a day!
Just thought I'd add some of the other trades I took today....
wow, Mark... all these on demo & live? Is that awesome or what
Now, it would be greater if u post more often from now on.
Excellent trades. woohooo!!

batesmotel, here's an example of multiple trades.
  • #40,774
  • Aug 12, 2009 11:08am Aug 12, 2009 11:08am
Quoting nonick
hi all,
posting some of my old charts, from the beginning of july.
i didn't take all of these setups, only the best-looking ones(those with a lot of space).
i hope, it might help some of you to see the difference between A+ and the average setups and i think it also shows that there are plenty of signals every day.
awesome post Nick

Nick has been doing this for awhile and it shows clearly.
  • #40,775
  • Edited 11:45am Aug 12, 2009 11:14am | Edited 11:45am
Quoting mbqb11
awesome post Nick

Nick has been doing this for awhile and it shows clearly.
thanks Mike wasn't sure whether i should post charts like these or not, since not all of the highlighted setups are really obvious.
but i'm sure everyone can find at least some setups they'd also take.
  • #40,776
  • Aug 12, 2009 11:26am Aug 12, 2009 11:26am
Quoting supremeChaos
wow, Mark... all these on demo & live? Is that awesome or what
Now, it would be greater if u post more often from now on.
Excellent trades. woohooo!!

batesmotel, here's an example of multiple trades.

LOL thanks SC but not all live yet
I opened up a second demo this morning with Saxo after reading Faizal82's post. Wanted to check it out so traded these on the new account instead.. Damn it looks good to see your profit running to 20k on a trade as opposed to the usual few hundred on a small account

Ps: I think about posting more sometimes but I keep thinking of the poor new guys who are trying to get through the thread. There's so much noise in there that makes it difficult for them to get through. So now I keep cleaning up after myself and deleting the stuff that nobody will find useful. I'll keep the charts up though
Time for a new chapter
  • #40,777
  • Aug 12, 2009 11:45am Aug 12, 2009 11:45am
Quoting markf45
....
Ps: I think about posting more sometimes but I keep thinking of the poor new guys who are trying to get through the thread. There's so much noise in there that makes it difficult for them to get through. So now I keep cleaning up after myself and deleting the stuff that nobody will find useful. I'll keep the charts up though
Think positively.
poor? they in fact are richer. why?
Think of it in these ways:
--when we post more, they learn more.. they see more charts (correct setups or not).
--we all start as newbies, the newer traders start the same. but to their advantage is more material (due to more posts than when this thread started) presented to them via this thread.
--by sifting through this voluminous thread, they learn discipline (to read on despite the thread volume), patience, self-reliance, humility (to read most/all of this thread), etc... learning to find the small gems in the sand/trash/rubble (like looking for A+ setups)

Now, am i a good salesman or not?



nonick,
do post more too.
  • #40,778
  • Aug 12, 2009 11:56am Aug 12, 2009 11:56am
@supremeChaos : i'll try
here's a trade i nearly got into :
limit sell at 1.6555, which is a ppz, a 50% fib retracement and there's also 150ema there. should've placed my order 5 pips lower.
Attached Image (click to enlarge)
Click to Enlarge Name: gu_sell limit.gif Size: 10 KB
  • #40,779
  • Aug 12, 2009 11:58am Aug 12, 2009 11:58am
Quoting mbqb11
The answer? No they don't.

Did I trade Monday? Nope. did I trade tuesday? Nope. It's a waiting game. B/c the taking candy from babies bars COME.
Ok here's a question: if these set-ups are like taking candy from a baby, why wouldn't you increase the risk %? or is that what you do in fact do?
  • #40,780
  • Aug 12, 2009 11:59am Aug 12, 2009 11:59am
[quote=supremeChaos;2949958]Think positively.

Now, am i a good salesman or not?


Lol just as I was half way through your post I was thinking 'this guy should be a salesman!'

Haha I'll post a few trades as and when then...
Just for you mate
Time for a new chapter
61 traders viewing now