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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

  • #45,181
  • Oct 3, 2009 10:00pm Oct 3, 2009 10:00pm
Quoting Cyrus
Hi JF,

I'm pretty new to the PF group as well. So allow me to chip in for abit.

The only thing I have to say is that I wish I was here YEARS ago. It's not just the info that's immense, its the community too.

I've recently considered everything that I've learned before joining this J16 thread and the PF, as JUNK and starting again from scratch.

I can read a chart, I've read more damn books than I can keep track of. Nothing comes close.
(this is a "commercial" thread yah? might as well utilize that fully )

But in all seriousness,...
I agree 100000%
  • #45,182
  • Oct 3, 2009 10:09pm Oct 3, 2009 10:09pm
Quoting atton
Lol I am quite sure that no one and when I say no one I really mean it can answer your question Why ? Because it really depends on how much do you risk. What the market will be in the particular month (consolidating or trending) . How much pairs do you trade etc . Oh... I ve almost forgot that you first need to learn how to be successful. Then start to worry about the percents per month...

let me go a bit further since Mikey aint around....

It comes down to the Market... If you accept what the market gives you then fine.. If you want to tell the market how much percent you want to make each month, then good luck.

The market is an ever changing living organism.... why??? cause its made up of decisions of millions of people every day... & every day they can change their minds....

thats why Quants & robots will work for a while but then send all the profits to hell..

If you spend the time & practise price action as taught here you may well keep yourself from loosing lots of money. If you take the time to learn price action & implament it with sound money management you will make money...

how do I know this you may ask????

I will say this here cause now its a "comercial" forum... I am an an electrician by trade but for the last 15 years have worked as a marine engineer onboard both submarines & private yachts....

In the time of the last 4 years I been learning PA from James16 & of course all the friends I have met therein..
Now, as it is commonly known in J16 I only freelance jobs, do deliveries, but spend most of my time trading..
& whats more I make good money doing it.... Have I met my goals yet?? NO... Am I getting closer every day?? YES.... Do I fuk up & make mistakes?? absolutely...

BUT the path is there.. I know what it is I have to do & now I just do it...

Yes this is a bit of a rant.. but I feel it is ok so as to show newbies that it is possible with work & effort to make a go of it with this trading thing...
well especially if you come from my sort of backround...blue collar..
Just ask Mike someday how long it took me to type or use a computer..
  • #45,183
  • Oct 4, 2009 12:10am Oct 4, 2009 12:10am
I wish I could see more posts like this. Very real and encouraging. Rant all you want, I'll read

Quoting rustyjeff
let me go a bit further since Mikey aint around....

It comes down to the Market... If you accept what the market gives you then fine.. If you want to tell the market how much percent you want to make each month, then good luck.

The market is an ever changing living organism.... why??? cause its made up of decisions of millions of people every day... & every day they can change their minds....

thats why Quants & robots will work for a while but then send all the profits to hell..

If you spend the time & practise price action as taught here...
  • #45,184
  • Oct 4, 2009 5:33am Oct 4, 2009 5:33am
Quoting Hwd
I wish I could see more posts like this. Very real and encouraging. Rant all you want, I'll read
+1

You're posting some really good, personal stories lately Jeff. Inspirational stuff, thats always a feel-good read but completely measured and realistic.

Just want to say thanks for sharing. Hope you keep chipping away at the dream.
  • #45,185
  • Oct 4, 2009 8:01am Oct 4, 2009 8:01am
Hello everyone,

I have been following the James116 forum for more than a year and really like the way to trade forex.

I really want to know are there James16 followers from Toronto Canada. If yes, please drop down their name or PM me. Maybe in the upcoming future, we can arrange a meet up and share some trading ideas and experiences together.

Have a nice weekend all!

PippingM
  • #45,186
  • Oct 4, 2009 8:44am Oct 4, 2009 8:44am
Hey everyone, being that the end of September marks my one year anniversary since I even I heard of forex, I've started my journal to track my progress form this point forward.

The first post is a bit lengthy but hey, it's my party and I'll cry if I want to....

I can't thank you all enough for the education I've received here and I hope my humble little corner speaks well enough to that.

God bless everyone and may the pips always be GREEN...

http://www.forexfactory.com/showthread.php?t=199688

Chris
Ghost Rider - WWTBMD?
  • #45,187
  • Oct 4, 2009 10:18am Oct 4, 2009 10:18am
Quoting albchr
Hey everyone, being that the end of September marks my one year anniversary since I even I heard of forex, I've started my journal to track my progress form this point forward.

The first post is a bit lengthy but hey, it's my party and I'll cry if I want to....

I can't thank you all enough for the education I've received here and I hope my humble little corner speaks well enough to that.

God bless everyone and may the pips always be GREEN...

http://www.forexfactory.com/showthread.php?t=199688...
good luck on your journey my friend , lmao at it s my party comment , Garyhttp://www.forexfactory.com/images/icons/icon10.gif
  • #45,188
  • Oct 4, 2009 12:43pm Oct 4, 2009 12:43pm
Quoting PippingMama
Hello everyone,

I have been following the James116 forum for more than a year and really like the way to trade forex.

I really want to know are there James16 followers from Toronto Canada. If yes, please drop down their name or PM me. Maybe in the upcoming future, we can arrange a meet up and share some trading ideas and experiences together.

Have a nice weekend all!

PippingM
yeah how abt a glass of beer with Raczekfx, a laptop and his crystal ball?
I believe . . .
  • #45,189
  • Oct 4, 2009 1:03pm Oct 4, 2009 1:03pm
After about 4 years of looking in on the FF, I am saying goodbye. The last few months have been an interesting time for me. I, for a lack of a better term, went 'public', and I see very clearly I am better off in the shadows.

This may sound selfish to a degree, and I can assure you, it is. If a man cannot care for himself properly, in agreement with his own needs, how can he care for another? That would be damaging, and I won't do that to you or me.

I will likely pop in from time to time, and maybe send a PM or two.... and then again, likely not. I did not do so before ...

A couple of thoughts for each of you.

Will you be able to become a trader, living by your wits in the market? Probably not. That is just a statement of fact. This is a difficult business, and a precious few can do it. Get used to this fact and you'll be better for it. The fact is that the vast majority of real traders out there are simply not going to help you either. They are either not equipped to, or simply refuse. You have found a few jewels here in the thread, and you should know who they are. If you do not, please pay attention.

Each of us can benefit from what is taught here whether you trade for a living, supplement your income, or just plain fail trying (that will be the majority - don't be fooled about this).

The next time a 'hot tip' comes to you telling you to buy a stock - and said buy will be trading you right into a PPZ or against a big PB, well, you'll know what to do - won't you? You are in a place where you cannot be fooled anymore, and if you have gotten there, you are in a place that the vast majority of unwashed massed do not realize even exists.

My personal best to each and every one of you. May you and yours find and hold happiness, joy and prosperity for the entire measure of your lives.

See you in the market.
I'm pretty much done with all this ...
  • #45,190
  • Oct 4, 2009 1:15pm Oct 4, 2009 1:15pm
Quoting StoragePro
After about 4 years of looking in on the FF, I am saying goodbye. The last few months have been an interesting time for me. I, for a lack of a better term, went 'public', and I see very clearly I am better off in the shadows.

This may sound selfish to a degree, and I can assure you, it is. If a man cannot care for himself properly, in agreement with his own needs, how can he care for another? That would be damaging, and I won't do that to you or me.

I will likely pop in from time to time, and maybe send a PM or two.... and then again, likely...
Best to you SP, I've learned a lot from you in recent times. Whatever you decide on, I hope it's right for you.
I dream, therefore I become.
  • #45,191
  • Oct 4, 2009 1:18pm Oct 4, 2009 1:18pm
Sorry to see this post. I, for one, will miss reading your 'stuff'. Stay well. Bob
Hej.
  • #45,192
  • Oct 4, 2009 1:19pm Oct 4, 2009 1:19pm
Quoting StoragePro
After about 4 years of looking in on the FF, I am saying goodbye....
be lucky my friend.....
  • #45,193
  • Oct 4, 2009 1:30pm Oct 4, 2009 1:30pm
Damn Storage Pro, I am going to miss you around here.

Best of luck, don't be a complete stranger to our little community/thread here.
  • #45,194
  • Oct 4, 2009 2:30pm Oct 4, 2009 2:30pm
Quoting StoragePro
After about 4 years of looking in on the FF, I am saying goodbye. .
SP, sad to see you go, my trading has been advanced by your posts and I've also often been entertained as well as educated by many of them too.


All the very best to you for the future.


PS
I wonder whether your decision is connected to an issue I have been wrestling with recently, namely, talking trading with people seems to negatively affect my judgement, (I'm mainly talking about outside of forums).
If you can wait and not be tired by waiting...
  • #45,195
  • Oct 4, 2009 2:31pm Oct 4, 2009 2:31pm
Quoting StoragePro
After about 4 years of looking in on the FF, I am saying goodbye. The last few months have been an interesting time for me. I, for a lack of a better term, went 'public', and I see very clearly I am better off in the shadows.

My personal best to each and every one of you. May you and yours find and hold happiness, joy and prosperity for the entire measure of your lives.

See you in the market.
Best of luck an tks a million for the knowledge you shared , u will be missed , Gary
  • #45,196
  • Oct 4, 2009 2:31pm Oct 4, 2009 2:31pm
Thanks atton, nology & Bundyraider

When i see nice looking pin in a good place, don't know why i stop caring about the traffic ahead. Going to work on that.

Thanks once again
  • #45,197
  • Oct 4, 2009 2:39pm Oct 4, 2009 2:39pm
Quoting StoragePro
After about 4 years of looking in on the FF, I am saying goodbye....
Sad to see you go Mike,

Not only are your posts highly informative, but you also have a great sense of humour, to be honest I your probably the person who's posts I enjoy the most. I remember over at the Pf in the "Ring finger length determines profitability thread" you had a picture of the back of your hand with the joke caption "The view my son often sees" or something like that, it was actually the funniest thing I have probably ever seen on the internet, I spat water all over my monitors laughing.

ForexFactory seems a bit of a mad place sometimes, I need breaks from it every now and again as sometimes it just seems like the blind leading the blind. I always read every post in this thread though, even if I don't post.

Take care bro,
Jig
  • #45,198
  • Oct 4, 2009 2:39pm Oct 4, 2009 2:39pm
Quoting mbqb11
Answers below
A pin is not valid till its low or high breaks. And a pin is not invalidated until its low or high breaks. I always set my stop above the high or below the low of a pinbar.
This leads me then, to another question which I have read so much conflicting info on, and the search button failed to help me with, as I'm planning a trade: if we're risking 100% of a pin, or more, on a trade, it especially puts us in situations where, like a trade I'm considering at the moment (which I'll possibly be posting depending on this answer), we're putting upwards of 300 pips on the line. (Fundamental RR question - but I want to hear it from the right people) Is it, according to James' method, appropriate to risk that, when I'm going to be running into a strong S/R line in 200 pips, or 150 for that matter?Yes, I'll take off some there, and set my SL to BE on the balance, however, that's assuming I make it there.

Theoretically this should be acceptable if only taking these high-quality setups because your true RR is still strong, correct?

I really have to say that I'm trying not to be someone who comes on here and asks questions that have been answered 50x. I don't post often because if I have a question, I usually can find the answer.
  • #45,199
  • Oct 4, 2009 2:47pm Oct 4, 2009 2:47pm
Quoting StoragePro
After about 4 years of looking in on the FF, I am saying goodbye....
I said whatI had to say in another thread but I did want to add this...
Thanks for all you returned to the Marketeers.
Fair Winds & Smooth Sailing.
You Deserve nothing less.
Here's tae lyin', cheatin' stealin' an' drinkin...

Bill
aka
Bemac
  • #45,200
  • Oct 4, 2009 2:57pm Oct 4, 2009 2:57pm
Quoting StoragePro
After about 4 years of looking in on the FF, I am saying goodbye. The last few months have been an interesting time for me. I, for a lack of a better term, went 'public', and I see very clearly I am better off in the shadows.

This may sound selfish to a degree, and I can assure you, it is. If a man cannot care for himself properly, in agreement with his own needs, how can he care for another? That would be damaging, and I won't do that to you or me.

I will likely pop in from time to time, and maybe send a PM or two.... and then again, likely...

Sad to to see you go as well, SP. But understandable, there is much to be said about having your own "cave" (i.e. the Rac cave. lol) to keep your focus on what needs to be done.

Just take with you and know the fact that you helped and guided many traders here for the better.

Case in point: This post below helped me solidify many "AH-Ha" moments that I had; qualitity of a set, 1st trouble area, etc. Pretty simple and resonable post but I read volumes in it. It helped me very much. Thank you.

Quoting StoragePro
Hi Jaroo

I am not Jim, but I play him on TV...

I discussed this very PB on an email yesterday. The PB itself did not fail, but went exactly where I would have expected it to go. It was a PB just below a PPZ, so the trade would be good for a couple of pips only - so it was not my cup of tea. Looking for a PB to break the PPZ, and banking on it is pretty risky.

See the attached screen shot for where I draw the PPZ - Look back to Sep of 2007 - and see why this is a good place for it.

Now have a look at the TBHLC (or is it an BEOB -...

I'll see you on the right side of a trade, my friend.

Jim
Indicators show the past. Price Action "Indicates" the future.
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