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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

  • #45,761
  • Oct 11, 2009 5:34pm Oct 11, 2009 5:34pm
Very nice man. I love gap trades.

Stopped out of EU as expected for 4% profit. I made the wrong call on keeping it open over the weekend with that huge pin on the H4. Lesson learned.

This is where I am still trying to learn. I need a lot of work on my exits. I go in the profit and tend to hold it to long. I always move to BE pretty quickly, but I am giving up far to much on these pullbacks. Greed is my problem here, and I need to figure out a way to fix it.

Que

Quoting TC East
Hmm...I had a nice gap trade on GY today, although I exited with only 20 pips and it's gone like 60 so far, but still happy...
Que
  • #45,762
  • Oct 11, 2009 5:37pm Oct 11, 2009 5:37pm
Jim,

Thanks for pointing that out. I had not thought about it that way. It needs further study on a demo, but I will definitely check it out.

Que

Quoting james16
i hear what your saying que. it would throw a wrench in some gap methods thats for sure.

i think the best way to play gaps is when the gap gets closed and the closing point is at a pivot zone.

just thought i would throw that in.

jim
Que
  • #45,763
  • Edited 6:32pm Oct 11, 2009 5:52pm | Edited 6:32pm
Quote
Ok,

I have been using IBFX for 3 years. Recently, their Sunday spreads have been pissing me off. As you can see from the attached, 9 pip spread on EU. Ridiculous...

Anyone have recommendations on a good broker?

Que


Hi Que,

I switched from IBFX about 6 months ago and am using UKForex.com "fixed spreads"

I cannot say I have been with them long enough to recommend them.

I can let you know that their "fixed spreads" usually stay with in a pip or two on the majors, some times GBP/USD varies as much as 3 ish pips.

Sometimes the execution is a little slow however; this could be my issue as I mostly trade using a 3G air card.


Best regards

Dale
  • #45,764
  • Oct 11, 2009 6:35pm Oct 11, 2009 6:35pm
Watching the NZD/AUD closely.

Nice big BUOB

That 1.2080 area is an absolute beauty:
-Major Weekly PPZ
-Long term fib (x2 - double top)
-Multiple EMA confluence.
-Divergence on the Daily

I'd love to see what happens if it makes its way back to that area(unlikely given the recent AUD strength).
Its practically screaming for a Rac blind trade on Demo.

Pity about that awful 20 pip spread my brokers got... honestly, AUD/USD is 3 pips and NZD/USD is 6 pips...whats the deal!?!

Joel made an interesting point a while back about betting with AND against a currency and pointed out the reasons logically and practically why it would be idiotic to do sp... would a case like this be the exception? Hmmm...

Now I'm just rambling...must go find that post...
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  • #45,765
  • Oct 11, 2009 8:16pm Oct 11, 2009 8:16pm
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.

[truncate]
Aaron, I can relate to your post plenty. Awesome post.

Thank you for sharing your thoughts.
One Mind, Any Market
  • #45,766
  • Oct 11, 2009 8:35pm Oct 11, 2009 8:35pm
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...
Thank you for hinting as always Rac. Those that seek shall find?
One Mind, Any Market
  • #45,767
  • Oct 11, 2009 9:42pm Oct 11, 2009 9:42pm
Quoting james16
thats the plan if things dont change.

i have over 800 mods ready to go.

nasty bad people wont last 2 minutes in our forum.

jim
Hola Jim
When are you starting your own forum?
  • #45,768
  • Oct 11, 2009 9:48pm Oct 11, 2009 9:48pm
never if i can get my beloved forex factory to get there act together.

being diplomatic about it is getting very difficult for me and they may be asking me to leave before its all over.

seems like the cart is before the horse around here but i know one thing.

if i ever start a forum assholes, idiots, trolls and mean people in general wont even get 2 chances.



jim

Quoting cyberfx
Hola Jim
When are you starting your own forum?
  • #45,769
  • Oct 11, 2009 9:56pm Oct 11, 2009 9:56pm
triple top with divergence.

entered at 6600 and the stop you see was from my entry.

have you ever heard of a succesful daily chart trade with an initial stop that tight?

you have now and you can do it also.

practice, practice and more practice.
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  • #45,770
  • Oct 11, 2009 10:01pm Oct 11, 2009 10:01pm
nice trade for me. stop is set above round number and im hoping for a big move down under the bar lows.
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  • #45,771
  • Oct 11, 2009 10:03pm Oct 11, 2009 10:03pm
im leaving the stop here back a ways.

this could be a nice reversal point for this pair. regardless i have a ton off the table and the rest locked in.
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  • #45,772
  • Oct 11, 2009 10:05pm Oct 11, 2009 10:05pm
a ton locked in here hoping for a break of the bar highs.
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  • #45,773
  • Oct 11, 2009 10:15pm Oct 11, 2009 10:15pm
btw for those of you that are convinced brokers are out to get you this was a 35 lot trade.

if they were stop hunting i am the kind of guy they would try to get with my tight stops.

i like ibfx. they have never shown me anything that even remotely caused me to suspect them of anything underhanded.





Quoting james16
triple top with divergence.

entered at 6600 and the stop you see was from my entry.

have you ever heard of a succesful daily chart trade with an initial stop that tight?

you have now and you can do it also.

practice, practice and more practice.
  • #45,774
  • Oct 11, 2009 10:17pm Oct 11, 2009 10:17pm
i always like it when i see you down there.
  • #45,775
  • Oct 11, 2009 10:23pm Oct 11, 2009 10:23pm
Quoting james16
i always like it when i see you down there.
That made me smile.

4:21 am Jim and I'm reading the thread with a smile on my face. I love these new charts.

I read the thread and PF between takes on set the other day. Will probably do the same tomorrow.

When the DVD is published I'll send you a copy. I know you'll get a kick out of the fact that during most of the scenes my blackberry in my pocket had the chart thread up on it.
  • #45,776
  • Oct 11, 2009 10:24pm Oct 11, 2009 10:24pm
well filming with bags under your eyes cant be good.

slow down buddy.

i would love to see the dvd.

Quoting TiaForex
That made me smile.

4:21 am Jim and I'm reading the thread with a smile on my face. I love these new charts.

I read the thread and PF between takes on set the other day. Will probably do the same tomorrow.

When the DVD is published I'll send you a copy. I know you'll get a kick out of the fact that during most of the scenes my blackberry in my pocket had the chart thread up on it.
  • #45,777
  • Oct 11, 2009 10:33pm Oct 11, 2009 10:33pm
Quoting james16
well filming with bags under your eyes cant be good.

slow down buddy.

i would love to see the dvd.
Lol. Actually, this job requires me to play someone pushing 50. I'm 36. So the night before filming I have to stay up late to get the bags (tricks of the trade). Add to that the fact that I've always been a night owl and here I am.
  • #45,778
  • Oct 11, 2009 10:34pm Oct 11, 2009 10:34pm
Quoting TiaForex
Lol. Actually, this job requires me to play someone pushing 50. I'm 36. So the night before filming I have to stay up late to get the bags (tricks of the trade). Add to that the fact that I've always been a night owl and here I am.

ouch . . . lol . . . Jim's almost 50. lolol
Indicators show the past. Price Action "Indicates" the future.
  • #45,779
  • Oct 11, 2009 10:36pm Oct 11, 2009 10:36pm
Quoting jarroo
ouch . . . lol . . . Jim's almost 50. lolol

wait a mintue . . .so am I lol
Indicators show the past. Price Action "Indicates" the future.
  • #45,780
  • Oct 11, 2009 10:38pm Oct 11, 2009 10:38pm
Quoting jarroo
ouch . . . lol . . . Jim's almost 50. lolol
Lol. You're getting me into trouble. I'm not saying everyone of 50 has bags under their eyes, just that they help a 36 year old to look 14 years older. I wouldn't risk the wrath of Jarroo. May end up slapped with one his patented hard breaks...
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