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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

  • #43,961
  • Sep 16, 2009 11:04pm Sep 16, 2009 11:04pm
say what?

Quoting Icehocey77
anyone else having problems with the Rants and charts vid? Links me to a member area of the site.
  • #43,962
  • Sep 16, 2009 11:04pm Sep 16, 2009 11:04pm
Quoting mbqb11
I say shut down that brain, b/c it will drive you nuts Keep it simple baby
Is there an off switch?

Maybe I should huff some paint and kill some brain cells.
Don't wish it were easier, wish you were better. ~ Jim Rohn
  • #43,963
  • Sep 16, 2009 11:06pm Sep 16, 2009 11:06pm
no just drink instead that will kill some off
  • #43,964
  • Sep 16, 2009 11:08pm Sep 16, 2009 11:08pm
Quoting james16
say what?
I guess you put it in the wrong folder, it links to a /members/ area instead of /guests/
  • #43,965
  • Sep 16, 2009 11:10pm Sep 16, 2009 11:10pm
thanks ice i had no idea until i read your post. my web people do all of this stuff so i will get it fixed first thing tomorrow.

jim

Quoting Icehocey77
I guess you put it in the wrong folder, it links to a /members/ area instead of /guests/
  • #43,966
  • Sep 16, 2009 11:14pm Sep 16, 2009 11:14pm
Quoting james16
did you get my message?
Looking now... Back from hiking. Nice hike/walk clears the mind a bit.
Don't wish it were easier, wish you were better. ~ Jim Rohn
  • #43,967
  • Sep 16, 2009 11:15pm Sep 16, 2009 11:15pm
i think it was an email

Quoting LasVahGoose
Looking now...
  • #43,968
  • Sep 16, 2009 11:17pm Sep 16, 2009 11:17pm
Quoting LasVahGoose
Is there an off switch?

Maybe I should huff some paint and kill some brain cells.
Never huffed any paint here

This is why some of the smartest people fail miserably at trading. It is opposite of how we really need to think often. Doctors, Lawyers whatever think that it is like learning a profession that way. It is completely not from my experience and that is why the joke is the doctors and lawyers get in last and give the liquidity for the big boys to get out of their profession. Those who just boil it down to its simplest level, practice, are open minded etc seem to thrive the best. I don't think you should change who you are, but it is possible to change how you are with trading. Look around the forums for people completely over complicating things they don't understand, and they don't last very long. What we do here as James says, is simple(dirt ). The real problem is what is between our ears, and all the stuff we do to mess up the simplicity of it. Please I am certainly not talking down, just trying to post another way of how I see things. There is a learning curve that can't be avoided that is for sure. But at the end of the day those that I see doing the best know how to keep it simple and see trading for what it is.

Just a mini rant for ya
Mike
  • #43,969
  • Edited 11:31pm Sep 16, 2009 11:19pm | Edited 11:31pm
Quoting atclarkson
Hey guys, newb here (Couple posts, and have read well over 4500 posts in this thread :O )

2 pin bars I have questions about.
(Note my charts don't have fib and I haven't learned enough about it, but I have started demo to get my head back in the charts) On Oanda fyi

GBPUSD- Took this one (all demo account, btw)
Bought ten pips above high, set stop 10 pips below low. Got stopped out.
Trading with the long term trend, (possible pullback)
At a recent ppz. Too much traffic nearby?
Am I missing anything with this trade?
Obv it went against...
Welcome aboard atclarkson.

These two PBs were successful. They reached the level or area where we expected them to go, the previous Highs, Lows and/or S/R levels.

I sure you have read that we look for Bullish PB at swing Lows and bearish PBs at swing Highs. This perference is even better if it is with the current trend, i.e. a retracement.

The Gbp/Usd Bullish PB was not at swing Low and the retracement level was not very deep but it did prove itself successful (green line). It had good support level of a PPZ blue line.

The Usd/Cad Bearish PB was not at the highest swing High for a PB that we would like but it was at a swing high retracement level with confluence of a PPZ level.

Once PA breaks we have to be aware that when Price reaches these area of expectancy we have to make the decision to take some off the table and move to break even or take full profit, etc. Yes, even with the Gbp/Usd PB.

But what we are really after is the best case senario, The A + trade. Where the PB is at a deep swing High/Low, huuge space, and penty of supporting confluences. (PPZs, Fib Levels, etc.)

http://i25.tinypic.com/33cup28.jpg

http://i27.tinypic.com/2i8zqr4.jpg


I like the FxPro charting feed because the Daily close is at 5:00 PM EST. (just like Mike) That may help.

Jim
Indicators show the past. Price Action "Indicates" the future.
  • #43,970
  • Sep 16, 2009 11:30pm Sep 16, 2009 11:30pm
I think it was Jim Rogers that said, a smart person can learn to trade in 1-5 years and a really smart person in 5-10.

It goes along the same lines as what you are saying and you are right. It's not that I'm really smart either, I just over complicate and need to work on that.

Thanks Mike, the mini rant is appreciated.



Quoting mbqb11
Never huffed any paint here

This is why some of the smartest people fail miserably at trading. It is opposite of how we really need to think often....
Don't wish it were easier, wish you were better. ~ Jim Rohn
  • #43,971
  • Sep 16, 2009 11:51pm Sep 16, 2009 11:51pm
Quoting Ryanmcd
So it comes down to is that 3-5% a big deal to me and for me I would rather have the time to do other things.
This is why Ryan is one of the seven people on the whole of FF that I have grabbed every post, read and reread, taken notes and saved.

Last I checked, there were 25,000 active members.

Quoting Ryanmcd
...after 10k trades and 10 years
This is another reason
When you have to shoot, shoot. Dont talk.
  • #43,972
  • Sep 16, 2009 11:52pm Sep 16, 2009 11:52pm
Quoting mbqb11
Never huffed any paint here

This is why some of the smartest people fail miserably at trading. It is opposite of how we really need to think often. Doctors, Lawyers whatever think that it is like learning a profession that way. It is completely not from my experience and that is why the joke is the doctors and lawyers get in last and give the liquidity for the big boys to get out of their profession. Those who just boil it down to its simplest level, practice, are open minded etc seem to thrive the best. I don't think you should change who you...

That is so true, lots of people that master what they do get into the market and expact the same. The people that do the worst are the Doctors / teachers / and IT type people because the job is the same thing over and over and the market is not that. One of my friends up in NY lost a little over 1 million in the past 12 months trying to get the bottom of the banks, well he never got it and walked away for some time off, he offered to pay for me to come and help him out lol I just do it over the phone now for free, but to be honest most people in the market are like him, they do great at a "real" job and just and try to do the same thing in the market and get hammered. I come from a IT field and when I got into this my last mentor told me I am going to have a hell of a time trying to get something that works all the time because it's just not going to happen, He was right too I wasted LOTS of time looking for the one setup I could trade over and over without a loss and it's not there.
Keep taking CT trades, I need more money
  • #43,973
  • Sep 16, 2009 11:55pm Sep 16, 2009 11:55pm
Quoting joelcf
This is why Ryan is one of the seven people on the whole of FF that I have grabbed every post, read and reread, taken notes and saved.

Last I checked, there were 25,000 active members.



This is another reason

Hey thanks man that means a lot and why I post here.
Keep taking CT trades, I need more money
  • #43,974
  • Sep 17, 2009 12:20am Sep 17, 2009 12:20am
Quoting joelcf

  1. (hurry up and move up, AUDUSD, so I can go to noo yawk)

Then the flight prices will be up too. lol

Damn cheap of late , eh?
Bundy's status today: "Waiting..."
  • #43,975
  • Sep 17, 2009 12:28am Sep 17, 2009 12:28am
Quoting mbqb11
all your stuff is pretty right on Joel....There are various other factors... One of these big factors are options. Options are HUGE with large sums of money on the line.....
A large option barrier(or the blowout of one for liquidity) can stop a trend dead in its track if there is enough money behind to protect it compared to the force on the way up. But as with anything there are also people looking to blow out these options.........
Awesome insights.
when price stops at, say, 1.3798, missing a round number by just 1 or 2 pips, sometimes/often u can speculate there's an option being protected at 1.38.

sometimes/often, options can contain/coral price in a range.
just some of my observations.
i believe learning about options is another exciting, excellent trading tool. so i am slowly learning about it.

I hope the Options people here can comment about/discuss it here from time time.
  • #43,976
  • Sep 17, 2009 12:29am Sep 17, 2009 12:29am
Quoting joelcf
I think it is more a case of...............
Natural supply and demand - currencies can trade however they want, but people are still going to be selling iron to the Euro zone, buying cheap Chinese crap, holidaying in NYC and Disneyland (hurry up and move up, AUDUSD, so I can go to noo yawk....
noo Yawk? sounds like a korean or mongolian city?

Quoting joelcf
yeah, i wasnt going to go near that one - I think I confuse people enough without going into options, let alone single/double knockout/knockin plain/reverse/compound barrier options or the more widely traded exotics (mostly binaries) ... Hull is there for anyone that wants to get that deep into it ...
Hey Sir,
what's Hull?
dont forget about the butterflies, flapping their wings like this
  • #43,977
  • Sep 17, 2009 12:33am Sep 17, 2009 12:33am
Quoting LasVahGoose
See for my personality it's the type of nuts and bolts how things work that matter to me, even if they don't really matter in trading....
left-brain, analytical...

Quoting LasVahGoose
Is there an off switch?
Maybe I should huff some paint and kill some brain cells.
better transfer the brain cells to my brain.
been malnourished for sometime now, depressing my trading progress immensely.

Quoting LasVahGoose
Looking now... Back from hiking. Nice hike/walk clears the mind a bit.
i believe any sport, hobby , recreation does.
  • #43,978
  • Sep 17, 2009 12:35am Sep 17, 2009 12:35am
Quoting jarroo
1st Target hit. That was easy.
Hey Jarroo i have a question about this trade.

As you can see two Traffic boxes in you chart and you trade was falling right into them right?

But the black filled box shows us some space.

So does that mean that if price make noise and traffic in a particular area and then make some space in that area our trades are safe then before.
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  • #43,979
  • Sep 17, 2009 12:41am Sep 17, 2009 12:41am
Quoting supremeChaos
noo Yawk? sounds like a korean or mongolian city?
I had a girlfriend from New York - an italian from Bensonhurst, Brooklyn. She told me that if her dad ever heard me pronounce it 'kneww yourk', they would find me floating in the Hudson

Every new yorker I have ever met has pronounced it the same, lol.

Quoting supremeChaos
what's Hull?
http://www.amazon.com/Options-Future...ref=pd_sim_b_3
When you have to shoot, shoot. Dont talk.
  • #43,980
  • Sep 17, 2009 12:44am Sep 17, 2009 12:44am
Is this GBPJPY a valid nose?

but the big trend is still down.

Where should I pull the trigger?
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