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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

  • #45,601
  • Oct 9, 2009 9:22am Oct 9, 2009 9:22am
Quoting TiaForex
Everyone morning I wake up and read the thread.

This was the maddest morning ever.

Jim's live touch trades, Texan self defence law, snakes and what rats to feed them....Mikey's friends....

I haven't laughed or nodded so much in a while. Thanks guys. Feels like old times.

Agree with you totally about protecting your family Jim. I think that's what lifetime pf membership is for. The kind of crazy that's going to risk 50% a trade and then come after you when he strikes out, is not the kind of crazy that's going to stick around 12 months patiently...
A lot of Gems in this one Aaron.


This one is profound: Patience brings profitability in trading. Impatience blows accounts.
Indicators show the past. Price Action "Indicates" the future.
  • #45,602
  • Oct 9, 2009 9:33am Oct 9, 2009 9:33am
Quoting raczekfx
lol... you're bad.

I said many times that, but people seemed to ignore they have ears and eyes..
It's been like that and it's going to be like that for centuries for come, who cares..
You don't just watch Jims videos, you look for tidbits of info 'he lets it slip' from time to time in them. It's the info that I read between the lines, that made the difference from me. I haven't just started trading the way I do on my own, I've seen it 'with my eyes closed' in Jims videos.
It could be just a few sec in a lengthy videos he's made...

Well said Mark. Jim's recent charts will really get people thinking now . . .. Hopefully not too much though.

Jim and Mike's guest videos are very good. One is doing themselves a disservice by only watching them a few times. The code is revealed if you watch them more then 10 times each . . . . but not in one day.
Indicators show the past. Price Action "Indicates" the future.
  • #45,603
  • Oct 9, 2009 9:36am Oct 9, 2009 9:36am
Love the guy! I listened to the audio recording of this show as soon as it was out.

His passion for freedom and the common sense he has is something I really adore.

Quoting jarroo
I'm not sure what happened to my state of Michigan but it did produce this man, God Bless him.

http://www.youtube.com/watch?v=LCHtw6WbbnM
  • #45,604
  • Oct 9, 2009 10:06am Oct 9, 2009 10:06am
  •  2mas
  • | Joined Apr 2007 | Status: Thanks to James 16 family | 89 Posts
Quoting icarusfx
Afternoon 2mas, yeah i've been watching yen pairs today (well two small in n outs)

from a daily perspective geppy is "currently" showing a pin into a ppz (i know it means nothing with so much of the day to go) esp going into the weekend i wouldn't touch it with a barge pole...but with a possible double bottom in place @ a strong ppz (also @ the 50% fib from jan low june high) it could start to get exciting lol (as if geppy isn't exciting enough) but i'm more than happy to wait till next week.

kind regards

ic
Hey ic,
I agree with you, so I am not holding my breath as well, it's friday and we are 11 am already in NY.
Congrats for the "small in n outs", hey green pips are green pips, right?

Have a good weekend all.
  • #45,605
  • Oct 9, 2009 10:12am Oct 9, 2009 10:12am
Quoting arthurwtm
thanks for the input!! but i have a few questions

-what do you mean trading agaisnt PPZ? from what i understand, PPZ is a critical area where it tends to be a support/resistance, am i right?
....
you are right in your assumption about the PPZ it's an area where price flip both side.

a picture will talk by itself

edit: LOL just saw where the text label (PPZ) it's now,it should be at left side off the blue box,

Attached Image
  • #45,606
  • Oct 9, 2009 10:37am Oct 9, 2009 10:37am
Quoting jarroo
I'm not sure what happened to my state of Michigan but it did produce this man, God Bless him.

http://www.youtube.com/watch?v=LCHtw6WbbnM
He has a nice spread of hunting land about an hour north of GR.
  • #45,607
  • Oct 9, 2009 10:42am Oct 9, 2009 10:42am
Quoting triger88990
you are right in your assumption about the PPZ it's an area where price flip both side.

a picture will talk by itself

edit: LOL just saw where the text label (PPZ) it's now,it should be at left side off the blue box,

Attachment
right on....

question is, how can you tell if that last intercept of PPZ isnt going to be a support? (of course it turned out to be resisnance, but how can you tell either way?)

ps: i know i'm asking alot...but bear with me
  • #45,608
  • Oct 9, 2009 11:10am Oct 9, 2009 11:10am
Quoting arthurwtm
thanks for the input!! but i have a few questions

-what do you mean trading agaisnt PPZ? from what i understand, PPZ is a critical area where it tends to be a support/resistance, am i right?




-it is logical that the BEOB(or is it double bar high with lower close??) signals a downtrend and hence determines the direction of the daily trend...thanks!
-however, how did you get 1.5656 as resistance? will it be too much trouble to plot the resistance and fibs out for me? i'm still trying to learn and i'll greatly appreciate it



-yes...
Hey Arthur

Someone else asked about his and I posted my explanation

http://www.forexfactory.com/showpost...ostcount=45527

Summary
Don't ignore what type of envirornment a bar is in. If price has been chopping around it will continue to do so, at your expense if we let it.

And size matters. Period. Paragraph. One of the keys to my trading is right there. SIZE.

Have a great weekend
Mike
  • #45,609
  • Oct 9, 2009 11:10am Oct 9, 2009 11:10am
CRAPPY INTERNET......
I missed all the fun here...

Quoting arthurwtm
right on....
question is, how can you tell if that last intercept of PPZ isnt going to be a support? (of course it turned out to be resisnance, but how can you tell either way?)
ps: i know i'm asking alot...but bear with me
if i may...

Answer: by the way price behaves at/near that particular PPZ. (so u have to monitor price when it reaches a PPZ)
i traded that eurcad (buy trade). initial target was initial expected traffic area at 1.5650 (my plotted PPZ on H4; remember: PPZ is a zone, not a specific value). if u noticed price immediately bounced/got rejected from that area (Price behavior near/at a PPZ).

Got more questions? Shoot..
many here will try to answer..
the more we ask, the more we learn
  • #45,610
  • Oct 9, 2009 11:11am Oct 9, 2009 11:11am
Quoting arthurwtm
right on....

question is, how can you tell if that last intercept of PPZ isnt going to be a support? (of course it turned out to be resisnance, but how can you tell either way?)

ps: i know i'm asking alot...but bear with me
we just can't say for sure what it'll do, that's way we wait for confirmation,PA. we just let the market do his job and be prepare to do your task as well.

one more input, the close of the pb was just below that ppz,what's telling us this,the bulls may not be so stronger to push the price further more, and the bears are fighting back having by their side(in our exemple) the trend by the primary move which is down

it will come with your experience as a trader,if you look to those more experimental guys you will see that they paly touch trade without confirmation.

hope that this is what you are looking for!!
  • #45,611
  • Oct 9, 2009 11:16am Oct 9, 2009 11:16am
Quoting james16
i will try to answer this and es question above.

guys i have been doing this since late 1982.

i try to teach things that i have learned over the years that new people can have at least a prayer at staying above water for the first year.

pa, s/r etc etc... i teach basic stuff that i know works. there are many things i do that i cant teach on a forum or anywhere other than by my side and even that would not work until you had crossed the desert with it. the single hardest thing is the rifle mentallity and then not letting good entries...
Jim - Am I going mad, or have I missed something? Did you say what your triggers for entry were on these trades? Were they PA trades?

Cheers
Simon
  • #45,612
  • Oct 9, 2009 11:17am Oct 9, 2009 11:17am
Quoting triger88990
you are right in your assumption about the PPZ it's an area where price flip both side.

a picture will talk by itself

edit: LOL just saw where the text label (PPZ) it's now,it should be at left side off the blue box,

Attachment

Yea when I see massive amounts of highs, and lows like that(ie price spiking) within a short time period. Trading that market is almost not happening for me at least on that time frame. The only way i will is if a big huge bar comes in clearly tipping the markets hand at a good location(ie the bottom or top).

Best
Mike
  • #45,613
  • Oct 9, 2009 11:27am Oct 9, 2009 11:27am
if I where just a little bit quiker we would have all 3 (mike,supreme,and me) posts at the same time

anyway just want to highlight that 1 question have been generate 3 differently answers, all 3 I think are right,that's come with our differently nature.
  • #45,614
  • Oct 9, 2009 11:45am Oct 9, 2009 11:45am
Jim,

I have been following you for several years now. At one time I was even part of your private forum; unfortunately, I could not justify the expense given the size of my account and this free thread. It has only been in the last 8 -12 months that I have truly grasped what you have been teaching. To be honest, it just takes time for one to get over the “I need the holy grail system to make a million bucks” mentality.

Now to my point, I would urge you NOT to place live trade calls here or anywhere else on the internet. You have stated many, many times that 90% of this game is mental. Honestly ask yourself how long it took you to get to where you are psychologically with your trading. After you have answered that, ask yourself what impact damaging that would have on your family (Stress, Less money, etc…). Now I do not know you personally, however, from what I have read over the years, you have zero experience trading other people’s money.

Now I know making live trade calls is different than trading other people’s money for them. To me it is worse, as you are not in control of their emotions or money management skills. Thus, when someone screws up, you will have to not only hear about it, but possibly deal with it. If I was you, and I am not, I would not go down this road.

From a pure financial standpoint, you have nothing to gain, and everything to lose. The only tangible gain you will have by making live trade calls is a boost to your ego when you are right. The men in this world that I have grown to respect (Only 32 years old now), are those that know how to provide and protect their family, while also giving to those that need help (not handouts). To me, at this time, you appear to be meeting both of those criteria. Do not jeopardize that.

All of that being said, I am sure your followers would not mind a nudge in the right direction from time to time. It would not be horrible to just post as the start of the week a few pairs that are of interest to you based on the daily charts. This will spark a lot of conversation on the forum as to S/R, fib levels, confluence, PA etc… of the pairs you say may have interest over the week. Given that, I would still be hesitant to say which way you think those pairs are going to go. Let your students decide and talk amongst themselves, as you will, and learn to trade.

Just my thoughts,

Ray
Que
  • #45,615
  • Oct 9, 2009 12:08pm Oct 9, 2009 12:08pm
Quoting Que
Jim,

I have been following you for several years now. At one time I was even part of your private forum; unfortunately, I could not justify the expense given the size of my account and this free thread. It has only been in the last 8 -12 months that I have truly grasped what you have been teaching. To be honest, it just takes time for one to get over the “I need the holy grail system to make a million bucks” mentality.

Now to my point, I would urge you NOT to place live trade calls here or anywhere else on the internet. You have stated many, many...
I must be missing something...

When did jim give a live trading call here?
I believe . . .
  • #45,616
  • Oct 9, 2009 12:24pm Oct 9, 2009 12:24pm
Quoting ghous
I must be missing something...
When did jim give a live trading call here?
i think he's just suggesting to Sir Jim (to not do live calls)
  • #45,617
  • Oct 9, 2009 12:40pm Oct 9, 2009 12:40pm
Quoting mbqb11
Yea when I see massive amounts of highs, and lows like that(ie price spiking) within a short time period. Trading that market is almost not happening for me at least on that time frame. The only way i will is if a big huge bar comes in clearly tipping the markets hand at a good location(ie the bottom or top).

Best
Mike
This is my first post in this thread. First of all I would like to congratulate everyone that contributes to this amazing source of information.
I have a lot of reading to do in this thread but I believe you don't mind if I ask something.

In the following picture, must we consider also a sideways market and ignore the PB (can we consider that a PB) that occured 3 candles before?
I wouldn't take this trade anyway because we didn't go higher than the PB top.
In the same picture, can we antecipate a breakout setup forming if we break the yellow line?

Thanks in advance.
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  • #45,618
  • Oct 9, 2009 12:54pm Oct 9, 2009 12:54pm
Quoting ghous
I must be missing something...

When did jim give a live trading call here?

Sorry I did not quote Jim for what I was responding to. Here is the post I was responding to.

Quoting james16
one of my future plans is to have a live trading room or live set ups. dont know when and a lot has to do with whether my wife will permit it. right now she gets pissed if i even mention it.
Que
  • #45,619
  • Oct 9, 2009 12:58pm Oct 9, 2009 12:58pm
Quoting NosferatuMan
This is my first post in this thread...
In the following picture, must we consider also a sideways market and ignore the PB (can we consider that a PB) that occured 3 candles before?
I wouldn't take this trade anyway because we didn't go higher than the PB top.
In the same picture, can we anticipate a breakout setup forming if we break the yellow line?
Thanks in advance.
in a sideways market, yes, it's better to sit & wait, specially if unexperienced enough.
that was a good-sized PB. however, trend at that time was down, AND it was not triggered AT ALL (there was, in fact, No trade).

breakout setup is possible, yes. usually, we look for a breakout & then a retest with confirming PA setup (example, a PB or BUOB to go long).

Welcome & enjoy!
  • #45,620
  • Oct 9, 2009 12:58pm Oct 9, 2009 12:58pm
Nice break of the TL today, will be looking for a continuation above 86 with a pullback where i will add again to hopefully take this to 89 and beyond.
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