james16 Chart Thread | Page 2040 | 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

  • #40,781
  • Aug 12, 2009 12:03pm Aug 12, 2009 12:03pm
Quoting salisa
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?
The market is still always right and in control. Part of being a good trader, is keeping and defining your risk tolerance based on your methods. I know what I am comfortable with, I know I take losses, I know what drawdowns I can handle etc. If at any point I mis manage a trade(which I do), I want to be in a risk that I can handle. I don't doubt some people raise and decrease their risk, but I also find if you are doing that maybe you aren't taking the best setups either way(as the great fijitrader once told me). This is still just another trade, although a really easy one in the end. Slow and steady wins this marathon. Compounding is your best friend

Hope that makes sense
Mike
  • #40,782
  • Aug 12, 2009 12:05pm Aug 12, 2009 12:05pm
here's another one :
sold eu yesterday, @4170, (original stop was 30p) :
61.8% ret + 150ema, good for 35pips
Attached Image(s) (click to enlarge)
Click to Enlarge Name: eu_sell_limit.gif Size: 13 KB
Click to Enlarge Name: Bild 1.png Size: 5 KB
  • #40,783
  • Aug 12, 2009 12:11pm Aug 12, 2009 12:11pm
Quoting nonick
@supremeChaos : i'll try ....
Quoting markf45
....
Haha I'll post a few trades as and when then...
Just for you mate
Your charts/posts --- they are for all of us...



Have a good one, all....
1.11am (Local time)
  • #40,784
  • Aug 12, 2009 12:20pm Aug 12, 2009 12:20pm
Quoting mbqb11
The market is still always right and in control....
Yes perfect sense as usual thanks - particularly the bit: "This is still just another trade".... can you post an example of where you went wrong? please? I know that might be asking more than the usual....
  • #40,785
  • Aug 12, 2009 12:53pm Aug 12, 2009 12:53pm
so guy's i made 64$ on GJ and EJ which is almost 70% of my account. Bought 3k of GJ and 2k of EJ while averaging down from the initial entry.

If i wait for another 2-3 trade like this for the whole month of august (which is btw impossible for me) is'nt this what we are looking for.

Sorry but i can not disclose my account balance.
  • #40,786
  • Aug 12, 2009 12:53pm Aug 12, 2009 12:53pm
I second that.

Thank you for sharing.


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.
  • #40,787
  • Aug 12, 2009 1:08pm Aug 12, 2009 1:08pm
Quoting mbqb11
The market is still always right and in control. Part of being a good trader, is keeping and defining your risk tolerance based on your methods. I know what I am comfortable with, I know I take losses, I know what drawdowns I can handle etc. If at any point I mis manage a trade(which I do), I want to be in a risk that I can handle. I don't doubt some people raise and decrease their risk, but I also find if you are doing that maybe you aren't taking the best setups either way(as the great fijitrader once told me). [u][i][b]This is still just another...
You, sir, are a genius. Simplicity is sometimes the most complex thought anyone can come across.
I dream, therefore I become.
  • #40,788
  • Aug 12, 2009 1:14pm Aug 12, 2009 1:14pm
Quoting tradertt
Took 2 IPBs today based on GHOUS (did I spell your nick correctly) IPB

One ended in profit
The other ended in Breakeven - Think I moved my stop to breakeven too soon. Spooked by the PPZ that was just at my entry

Did I do it correctly?
You spelled it correctly, just that it's not my nick....it is my name. lol

Well done on the trades tt,

Au was a bit ugly, but yet again the power of location (at important ppz) comes to the rescue...

Nice work.

g
I believe . . .
  • #40,789
  • Aug 12, 2009 1:15pm Aug 12, 2009 1:15pm
Quoting salisa
I can't remember who said it but it went something like this: losing is what traders do while they wait for the great A++ set-ups... oooh so true. nothing last week only for a hatful of points to come along this week... does a pin ever look better than this?
MY DAMN WORD!!!

You won't see one as sweet as that for a loooonnnngggg time,

Beautiful setup Salisa,

thnx for sharing,

g
I believe . . .
  • #40,790
  • Aug 12, 2009 1:20pm Aug 12, 2009 1:20pm
Quoting caseyjw
Warning - not a price action trade

took this as a Jacko-style "trade with the trend" long on EURUSD, saw a dip below 1.4100 and set a buy stop with a 50 pip SL per his style, off the daily chart...

Woke up to nice move and noticed this pinbar on the 4H.... anyone here in on this one??

Casey
good stuff,

Love the way Jacko attacks those round numbers.

We have quite of a few "round numbry" fellas here too...Mike e.g treats them like his wife.

lol

Ghous.
I believe . . .
  • #40,791
  • Aug 12, 2009 1:27pm Aug 12, 2009 1:27pm
Quoting salisa
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?
Even perfect set-ups can fail, although rare but as Mike says it could be a a sudden piece of news that was unexpected that renders the pa void (i.e. 911) If you have 50% of your account on one trade even though it looks an A+++++ trade there is always that risk, of losing it. Imagine having traded for 6 months then losing all the profit in a few hours?. I never risk more than 3% per trade and wouldn't have more than 6% overall.
I hear and I forget. I see and I remember. I do and I understand.
  • #40,792
  • Aug 12, 2009 1:28pm Aug 12, 2009 1:28pm
Check out this bad boy forming
Attached Image
Money & Pain Respect the market, protect your capital, be patient
  • #40,793
  • Edited 1:46pm Aug 12, 2009 1:33pm | Edited 1:46pm
Quoting toyboy tramp
Check out this bad boy forming
Had a quick scan and there are 5-6 pin bars possible tonight, will wait till close at 5pm EST before deciding, hopefully a couple that are not correlated.

UPDATE: Mostly AUD/NZD pairs though, will aud break lows/highs?

Regards

Mark
I hear and I forget. I see and I remember. I do and I understand.
  • #40,794
  • Aug 12, 2009 1:37pm Aug 12, 2009 1:37pm
[quote=nonick;2950003]here's another one :


Hi Nick,

Thank you for the reply for my private message. i appreciate it very much.

-happyTrading-
-happyTrading-myFx.
  • #40,795
  • Aug 12, 2009 1:54pm Aug 12, 2009 1:54pm
Hey ghous glad to see you.

you were really busy today.
  • #40,796
  • Aug 12, 2009 1:57pm Aug 12, 2009 1:57pm
Quoting nasir.khan
Hey ghous glad to see you.

you were really busy today.
I've been busy throughout the week...
I believe . . .
  • #40,797
  • Aug 12, 2009 2:09pm Aug 12, 2009 2:09pm
Quoting ghous
You spelled it correctly, just that it's not my nick....it is my name. lol

Well done on the trades tt,

Au was a bit ugly, but yet again the power of location (at important ppz) comes to the rescue...

Nice work.

g
Thank you and sorry for the NAME CALLING lolz

Thank you for introducing me to IPBs. Great setup.

By the way, you say you look at Multiple Bars to make up a PA, care to share a little what it looks like?

Is it like those 2 bars setups I posted?
  • #40,798
  • Aug 12, 2009 2:22pm Aug 12, 2009 2:22pm
Here is another winner I had today.

As usual, I would be glad if the seniors around can give me reasons why NOT entering this trade. It is weird because last week I hardly had one trade...this week 9 so far. I am beggining to think I am not enough picky...I made a total of 8 wins and one looser so far. But does it worth the risk? I mean, maybe I am not enough picky and it will get me in the future. I want to prevent it before it happens.

Here is my last trade....something wrong here?
Thanks guys.
Ben


http://img220.imageshack.us/img220/8176/17815011.jpg

http://img525.imageshack.us/img525/4403/16922112.jpg


PS - picky or not....it works again and again and again...amazing. This material is a treasure.
  • #40,799
  • Aug 12, 2009 2:23pm Aug 12, 2009 2:23pm
very nice.

jim

Quoting salisa
I can't remember who said it but it went something like this: losing is what traders do while they wait for the great A++ set-ups... oooh so true. nothing last week only for a hatful of points to come along this week... does a pin ever look better than this?
  • #40,800
  • Edited 2:30pm Aug 12, 2009 2:28pm | Edited 2:30pm
aud-usd

support off the .8200
support off the 38.2.0FIB
Confluence 38.2FIB and .8200
with the trend
MACD divergence

Not a major swing low though
Attached Image (click to enlarge)
Click to Enlarge Name: aud-usd.png Size: 263 KB
68 traders viewing now