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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

  • #45,641
  • Oct 9, 2009 2:46pm Oct 9, 2009 2:46pm
the trendline has been broken and my stop is now above it and a round number.

thats all i can do.

i dont feel comfortable talking big dollar amounts with my trading. this is the first and the last time i will do it.

i am up around 50,000 on these trades.

several of you sent me charts from trading the mini dow this week on tick charts i showed you.

congrats on your fantastic success.

i nailed the dow this week also.

member, lurker, new,old i love you all.

i wouldnt trade the last 5 years for a meeting with jimmy page or any amount of money.

well almost i guess.

.
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  • #45,642
  • Oct 9, 2009 2:49pm Oct 9, 2009 2:49pm
priceless dude.

you would love living here j.

Quoting jarroo
Post 1. . . . lol

I've probably viewed that video a hundred times and I never get tired of watching it. lol

". . . . I don't like repeat offenders . . . I like dead offenders."
  • #45,643
  • Oct 9, 2009 2:50pm Oct 9, 2009 2:50pm
Quoting cologg
Long time lurker here.
Wow. Got to admit I've never heard of the man but that is brilliant. I just wish there were some people like this in England.
Got to move to Texas. Sounds like my kind of place.
Another good reason to move to Texas is the awesome manners everyone you meet has.

And I love listening to any lady with one of those southern accents.
Bundy's status today: "Waiting..."
  • #45,644
  • Oct 9, 2009 2:55pm Oct 9, 2009 2:55pm
well it aint perfect especially in the large cities but thats true anywhere.

for those of you that actually try to support yourself instead of letting the govmt do it for you paying huge state taxes, no jobs, high living expenses this would seem like heaven to you.

i promise,

jim

Quoting bundyraider
Another good reason to move to Texas is the awesome manners everyone you meet has.

And I love listening to any lady with one of those southern accents.
  • #45,645
  • Oct 9, 2009 2:55pm Oct 9, 2009 2:55pm
Aye,

My wife was born and raised in Lubbock, Texas. She live there for over 30 years, until she met me and the Army moved us away. Now I am out of the Army and living in California. I am an Engineer and Silicon Valley is where the jobs are for me at the moment. Maybe one day we will move back.

Anyhow, I hope everyone had a great trading week. This week is at an end. I have moved my stop on that EU trade to within 30 pips of where we are now and going to let it run over the weekend. EU generally does not gap very large and I still see some potential to go further. If not, I still make 4% on this trade. Not a bad week. 1 for 1.

Que

Quoting bundyraider
Another good reason to move to Texas is the awesome manners everyone you meet has.

And I love listening to any lady with one of those southern accents.
Que
  • #45,646
  • Oct 9, 2009 3:02pm Oct 9, 2009 3:02pm
Jumpstart on next week scouting...I like this BUOB at a swing low and a PPZ.
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"Whether you think you can or can't, you're right." Henry Ford
  • #45,647
  • Oct 9, 2009 3:03pm Oct 9, 2009 3:03pm
Quoting james16
well it aint perfect especially in the large cities but thats true anywhere.

for those of you that actually try to support yourself instead of letting the govmt do it for you paying huge state taxes, no jobs, high living expenses this would seem like heaven to you.

i promise,

jim
I realise the cities can be different, but I'm not one to hang around the big smoke much anyway. ( ...I could do Manhattan for a year maybe though.)
Bundy's status today: "Waiting..."
  • #45,648
  • Oct 9, 2009 3:05pm Oct 9, 2009 3:05pm
great job que.

i lived in lubbock as a baby. my sister was born there and my grandparents lived there entire lives in brownfield just south.

west texas is a real mans heaven on earth.

jim

Quoting Que
Aye,

My wife was born and raised in Lubbock, Texas. She live there for over 30 years, until she met me and the Army moved us away. Now I am out of the Army and living in California. I am an Engineer and Silicon Valley is where the jobs are for me at the moment. Maybe one day we will move back.

Anyhow, I hope everyone had a great trading week. This week is at an end. I have moved my stop on that EU trade to within 30 pips of where we are now and going to let it run over the weekend. EU generally does not gap very large and I still see some potential...
  • #45,649
  • Oct 9, 2009 3:10pm Oct 9, 2009 3:10pm
Quoting bundyraider
Another good reason to move to Texas is the awesome manners everyone you meet has.
That's true. Especially in the smaller towns.
I've lived in Texas since my High School years and one thing I always thought interesting was that people walking on the street always wave at you when you're driving around town (Even if they don't know you).
Off course at the time I was a student and I used to be the one walking around town and people that drove by would wave at me.

The only place in Texas I don't like much is Houston. People there are a little too crazy for my taste. Too much traffic and road rage
  • #45,650
  • Oct 9, 2009 3:17pm Oct 9, 2009 3:17pm
Quoting james16

west texas is a real mans heaven on earth.

I spent last summer in Odessa with some friends that live there.
Had some fun seeing the RoadRunners cross the road (I always loved the cartoon as a kid)
Sandstorms were a little interesting too
  • #45,651
  • Oct 9, 2009 3:18pm Oct 9, 2009 3:18pm
Quoting raczekfx
Amen bro !
You just have work a little harder than others at the beginning.

Just one example below I could not resist to take, even though I said to my wife: that's enough for this week..

Pull back to solid (imo) ppz with 61fib confl. with a tiny stop..
I took it in the morning and had to leave for few hours. Just closed this as we're approaching daily ppz.
It feels almost like you're given a free lunch on a golden platter..
Believe it or not, few guys I know shorted, right when we...
Classic Rac, simply classic.

Some of the code slipped out in your post Rac. I wonder if people can find it.
Indicators show the past. Price Action "Indicates" the future.
  • #45,652
  • Oct 9, 2009 3:20pm Oct 9, 2009 3:20pm
Quoting james16
i dont know what to tell you my friend.

they are based to a LARGE DEGREE ON THE BASICS OF WHAT I TEACH YOU GUYS BUT THEY ARE ALSO BASED ON 25 YEARS OF WATCHING PRICE AND CHARTS AND "KNOWING" WHEN THE TIME IS RIGHT.

(oops sorry i hit the caps button)

thats what the post you quoted is saying.

i cant teach that "knowing" part.

that comes from playing the game for decades.
Cheers Jim. I'll take a closer look at your charts. What threw me is that normally the charts you post have clearly indicated PA bars on them. I guess these are different

Have a great weekend.

Simon
  • #45,653
  • Oct 9, 2009 3:20pm Oct 9, 2009 3:20pm
Quoting james16
priceless dude.

you would love living here j.
I'm on my way . . . before this state implodes. lol
Indicators show the past. Price Action "Indicates" the future.
  • #45,654
  • Oct 9, 2009 3:23pm Oct 9, 2009 3:23pm
hi, ive been reading this thread for the past 3 months or so and have just registered now to say thanks to jim and also mike whos posts ive found truly eye opening.

i started trading about a year ago, began by reading a couple of books and a few articles on the internet and thought it would be a piece of cake to get the hang of and quicky double, treble, quadrouple my money.

i wont bore you with all the details but i blew 3 x £2000 accounts in that time without having a clue what i was doing. you name it i did it - went on tilt, chased losses, revenge traded, jumped into trades as soon as i saw something moving up or down... etc.

i was about to quit after i blew my third account but luckily i stumbled across this thread and started reading it, my last live trade was in june and since then ive firmly been sat on the sidelines just reading this thread and watching charts, not even paper trading really, just studying charts and marking ppz's and watching what happens.

ive just today opened a demo account and intend to trade that seriously on daily bars until i become consistent and that account shows that im ready to put my money on the line again, whether that takes 3, 6, 9 or 12 months.

ive set myself a few guidelines to assess before entering any trades and have these printed out and stuck above my monitors - they are

1) Space + swing high/low?
2) Trending or sideways market?
3) Long nose swinging up/down away from previous bars?
4) PPZ?
5) Fib confluence?
6) Round number?
7) Size of bar relative to nearby bars?
8) Moving averages/trendlines to consider?
10) MACD divergence?
11) Nearby bar highs/lows for first problem area?

Obviously not every single one has to be met but I think the more that can be ticked off the higher the chance of price moving in the corect direction.

One trade that met a lot of these I spotted at the start of the week was this sweet daily pin on the dow.

http://img238.imageshack.us/img238/7...7722008gif.png

Thanks again to jim and mike and all the other members who have posted a lot of great stuff in here.
  • #45,655
  • Oct 9, 2009 3:25pm Oct 9, 2009 3:25pm
Quoting AnimalHungry
Cheers Jim. I'll take a closer look at your charts. What threw me is that normally the charts you post have clearly indicated PA bars on them. I guess these are different

Have a great weekend.

Simon
What is also indicated clearly on Jim's charts are where these PA bars are located and other confluences with these locations.
Indicators show the past. Price Action "Indicates" the future.
  • #45,656
  • Oct 9, 2009 3:26pm Oct 9, 2009 3:26pm
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
Straight into my youtube favorites list.
That guy just lay out my EXACT thoughts on the subject with a bluntness that I would never be able to express
  • #45,657
  • Oct 9, 2009 3:41pm Oct 9, 2009 3:41pm
  •  2mas
  • | Joined Apr 2007 | Status: Thanks to James 16 family | 89 Posts
I like to keep things really really simple.
I hope I'm not complicating things to myself -or someone else- with this, But are those charts related ??
I guess a break above 75 in oil will prove that they are NOT.
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  • #45,658
  • Oct 9, 2009 3:46pm Oct 9, 2009 3:46pm
yeah houston is full of idiots. so is dallas.

sorry to be so blunt but arent all big cities like that?

most good hard working people leave mostly for safety reasons.

cant blame them.

the born in poverty line wont work here also.

if you want to better your life, get a job and raise a family you can. you just leave that crap.

educational level wont hurt you, color wont hurt you etc etc.

its there if you want it.

saying you cant get out of the hood here is BS.

if your 'STUCK' in a crime ridden city here its your choice and not someone elses fault.

i would put a million dollars on a bet i could get a job somewhere here in one day.



Quoting CkM8
That's true. Especially in the smaller towns.
I've lived in Texas since my High School years and one thing I always thought interesting was that people walking on the street always wave at you when you're driving around town (Even if they don't know you).
Off course at the time I was a student and I used to be the one walking around town and people that drove by would wave at me.

The only place in Texas I don't like much is Houston. People there are a little too crazy for my taste. Too much traffic and road rage
  • #45,659
  • Oct 9, 2009 3:53pm Oct 9, 2009 3:53pm
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

You know, I definitely could get along with anyone who agrees with this video. This is exactly my feelings. I'm 23 years old and I can't tell you how many kids my age don't think this way and it drives me nuts. I plan on getting my conceal and carry license here in ohio during this winter. Before mister Obama and his DEMONcrats (or at least the ones in washington) take that right away from us. Thats all i'll say.
"Luck favors the prepared mind"
  • #45,660
  • Oct 9, 2009 3:56pm Oct 9, 2009 3:56pm
Quoting jpa0827
You know, I definitely could get along with anyone who agrees with this video. This is exactly my feelings. I'm 23 years old and I can't tell you how many kids my age don't think this way and it drives me nuts. I plan on getting my conceal and carry license here in ohio during this winter. Before mister Obama and his DEMONcrats (or at least the ones in washington) take that right away from us. Thats all i'll say.
by the way. I would love texas. That state is probably the only one that still has any balls. But welcome to America. Land of the Free Home of the pussies. Ok now i'm done lol
"Luck favors the prepared mind"
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