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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

  • #41,621
  • Aug 20, 2009 10:41am Aug 20, 2009 10:41am
Quoting phpscott
Attached is an updated indicator with one bug fix and one alteration. The indicator is now pickier on the setups. For example, it ignores pinbars where it deems the nose to be too short.

Lastly, if you have questions, comments or suggestions, PM me.

Scott
Love the indicator Scott. I've looked at a lot of PA indicators and this is the only one that consistently recognises price action (as properly defined) and searches the lower time frame. Well done!
  • #41,622
  • Aug 20, 2009 10:42am Aug 20, 2009 10:42am
Ej 1H IPB.

4H PPZ

150 ema on the 1H

With the trend

BOOM!
Attached Images
I believe . . .
  • #41,623
  • Aug 20, 2009 11:01am Aug 20, 2009 11:01am
Hey Ryan, glad you posted that! I am in the same situation now. I have been trading for about 1 year now and sort of at break even can't seem to pull out ahead and I am not loosing either. I am racking my brain trying to figure out what the hell is going on here.

It seems that when i pick a trade i take it to the next support/resistance level and then i exit. Usually that is about 1:1 RR plus or minus a few points here and there.

And from what i have seen so far it looks like i need to target at least 2:1 OR improve my winning percentage. I don't know which one is more doable so far.

I guess JIM really had a point when he said let the market take you out and trail your stops when in a profitable position.

Would appreciate any comments!

Quoting Ryanmcd
It goes back to the 1st 2 people I had as montors, they got a nice run up 1997 - 2000, the other one could trade great just not his own money

Mentor #1 took 64k and made over 8 million, Derick Lenord watch a wade cook video he's on it making 145k in one day off dell options, well he was in the right place at the right time and now is broke and in jail. I posted the deal before.

Mentor #2 Showed me a lot of price action such as Wave's Fib's and a setup called the Gartley 222 butterfly that was very nice. He is still great at TA just can not...
  • #41,624
  • Aug 20, 2009 11:04am Aug 20, 2009 11:04am
Quoting TotalNewbie
I hope you people can help me out here....
Again you are gonna find different people doing different things, but I am in agreement, I would have a ton of trouble trading right into that 1.65 area. That would make me very nervous.

Mike
  • #41,625
  • Aug 20, 2009 11:07am Aug 20, 2009 11:07am
Quoting TiaForex
You need to speak to Mike. I swear that guy has only had 14 hours of sleep so far this year.

And the little *&^%*^ still looks young and fresh.

If I don't get my 8 hours I look like something out of Dawn Of The Dead
LOL i get my best night sleeps after a night out now GO FIGURE

I thought you would say like something out of Black Hawk Down, but what do i KNow
  • #41,626
  • Aug 20, 2009 11:09am Aug 20, 2009 11:09am
Quoting StoragePro
What do YOU think.

You can be helped better if we hear your thoughts and why you'd take the trade.

(Then MBQB11 will find 50 reasons not too... )
LOL I think I get some people mad when I always say the reasons not to trade

But on this one, see how low that close is. Yes technically a pin cause open and close in the other bar. But that bar just looks to bearish to get to excited about for me.

No one get mad
  • #41,627
  • Aug 20, 2009 11:16am Aug 20, 2009 11:16am
Large Bearish Outside Bar englufing large range, through PPZ, divergence,
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  • #41,628
  • Aug 20, 2009 11:22am Aug 20, 2009 11:22am
Quoting Ryanmcd
It goes back to the 1st 2 people I had as montors, they got a nice run up 1997 - 2000, the other one could trade great just not his own money

Mentor #1 took 64k and made over 8 million, Derick Lenord watch a wade cook video he's on it making 145k in one day off dell options, well he was in the right place at the right time and now is broke and in jail. I posted the deal before.

Mentor #2 Showed me a lot of price action such as Wave's Fib's and a setup called the Gartley 222 butterfly that was very nice. He is still great at TA just can...
Thanks man, that was great reading.
  • #41,629
  • Aug 20, 2009 11:24am Aug 20, 2009 11:24am
Quoting mbqb11
LOL i get my best night sleeps after a night out now GO FIGURE

I thought you would say like something out of Black Hawk Down, but what do i KNow

I guess blacking out / passing out is a form of sleep
Keep taking CT trades, I need more money
  • #41,630
  • Aug 20, 2009 11:27am Aug 20, 2009 11:27am
Quoting Ryanmcd
I guess blacking out / passing out is a form of sleep
  • #41,631
  • Aug 20, 2009 11:27am Aug 20, 2009 11:27am
Quoting TiaForex
Thanks man, that was great reading.

Thanks glad I could help out.
Keep taking CT trades, I need more money
  • #41,632
  • Aug 20, 2009 11:29am Aug 20, 2009 11:29am
Quoting mbqb11

I am going to Missississp next week to play some poker with my brother, 100k On black right Mike? What game is fun that I can play and is not a job? I was doing the dice throwing game on that big table but it moves too damn fast, also my bro just said play the pass line but that is no fun lol
Keep taking CT trades, I need more money
  • #41,633
  • Aug 20, 2009 11:31am Aug 20, 2009 11:31am
Just dont get your dice in a vice.

Lol

Quoting ryanmcd
i am going to missississp next week to play some poker with my brother, 100k on black right mike? what game is fun that i can play and is not a job? I was doing the dice throwing game on that big table but it moves too damn fast, also my bro just said play the pass line but that is no fun lol
  • #41,634
  • Aug 20, 2009 11:35am Aug 20, 2009 11:35am
Tia brought this back to my attention yesterday.

i may have aready posted it but its worth showing again.
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  • #41,635
  • Aug 20, 2009 11:36am Aug 20, 2009 11:36am
Quoting james16
Just dont get your dice in a vice.

Lol
I almost did last time, some drunk chick was hitting on me with her husband right next to her.

Last time I lost $8 and it pissed me off LOL, I hate knowing I am going to lose but I want to learn how to play a little. I feel like a retard not having a clue what I am doing.
Keep taking CT trades, I need more money
  • #41,636
  • Aug 20, 2009 11:38am Aug 20, 2009 11:38am
Thanks for your answers Ryan and please, keep posting some of your experiences from time to time, because they're as inspiring as James' one.
Have a nice day.
  • #41,637
  • Aug 20, 2009 11:38am Aug 20, 2009 11:38am
Quoting Ryanmcd
I am going to Missississp next week to play some poker with my brother, 100k On black right Mike? What game is fun that I can play and is not a job? I was doing the dice throwing game on that big table but it moves too damn fast, also my bro just said play the pass line but that is no fun lol
Craps is hella fun, just find someone who is doing well and back their bets. You either make a ton fast, or lose your shirt real fast. Either way you can get drunk after
  • #41,638
  • Aug 20, 2009 11:40am Aug 20, 2009 11:40am
Ryan will be all over this..
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  • #41,639
  • Aug 20, 2009 11:45am Aug 20, 2009 11:45am
well have fun and thanks for helping out here.

jim

Quoting Ryanmcd
I almost did last time, some drunk chick was hitting on me with her husband right next to her.

Last time I lost $8 and it pissed me off LOL, I hate knowing I am going to lose but I want to learn how to play a little. I feel like a retard not having a clue what I am doing.
  • #41,640
  • Aug 20, 2009 12:09pm Aug 20, 2009 12:09pm
Quoting james16
well have fun and thanks for helping out here.

jim

Jim glad to help out anytime, sometimes I come across as a ass but as you know I just hate to people lose money.
Keep taking CT trades, I need more money
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