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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

  • #46,681
  • Oct 22, 2009 10:06pm Oct 22, 2009 10:06pm
Hmm... just another quick newbie question on trading platform - how do those of you seniors using MT4 keep your charts up? I only have 12 charts displayed and it lags with frequent disconnection from FxPro. If I close the charts and reopen them, all the lines and information on the charts are removed and I have to re-draw them again.

Watching as many pairs as possible is supposed to help us gain experience; enable us to choose between setups for the nicer, higher probability trade; help starve off the "itchy trading finger" syndrome. So how do you keep that many charts open or at least save the info such that it is there when you re-open them?
  • #46,682
  • Oct 22, 2009 10:16pm Oct 22, 2009 10:16pm
  •  krue
  • | Joined Mar 2008 | Status: finger scares cat, power of illusio | 410 Posts
a follow up of your chart, breakout entry upon two matching high.

thanks for sharing.


Quoting mbqb11
Hey Krue


See that first BIG beob. There is your trade


Mike
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  • #46,683
  • Oct 22, 2009 10:33pm Oct 22, 2009 10:33pm
Quoting bundyraider
But FX_Serg is talking about HUGE draw downs and then mentions $10
and $200

I think Bemac was being very relative to FX_Serg's situation.
Indeed very relative, Bundy
  • #46,684
  • Oct 22, 2009 10:39pm Oct 22, 2009 10:39pm
Quoting NosferatuMan
Funny but educational

Wasn't that funny back then but definitely an excellent lesson that brought me where I am now
Good thing I was starting small. Can't imagine what would happen to my nerves if playing 50k+ account. And if you think that doesn't happen, it does. I've met several folks on the internet that starting "learning" with 50k+ accounts. Didn't last more than 2 weeks...I wouldn't want to be in their shoes
  • #46,685
  • Oct 22, 2009 10:52pm Oct 22, 2009 10:52pm
Quoting arctos
Hmm... just another quick newbie question on trading platform - how do those of you seniors using MT4 keep your charts up? I only have 12 charts displayed and it lags with frequent disconnection from FxPro. If I close the charts and reopen them, all the lines and information on the charts are removed and I have to re-draw them again.

Watching as many pairs as possible is supposed to help us gain experience; enable us to choose between setups for the nicer, higher probability trade; help starve off the "itchy trading finger" syndrome. So how do...
Hey Arctos

Sounds like it might be your computer or something on your end. I run fxpro and 2-3 other mt4s at the same time with 20+ pairs open on each and no problems at all.

I would try re downloading the platform, clearing out your computer and what not. Might just be a memory problem

Best
Mike
  • #46,686
  • Oct 22, 2009 11:51pm Oct 22, 2009 11:51pm
Quoting arctos
Hmm... j
btw u can go file...open deleted to open your charts in MT4 after you've closed them, it still has the lines on it.
May all your fits be loose.
  • #46,687
  • Oct 23, 2009 12:02am Oct 23, 2009 12:02am
Resistance at 6650 ish
BEOB on the hourly.
Bearish trendline break on the fifteen minute.
4hour almost pin with a bit of divergence.
Room to revisit 6500?

EDIT: the 1HR BEOB just got invalidated.
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May all your fits be loose.
  • #46,688
  • Oct 23, 2009 12:49am Oct 23, 2009 12:49am
Quoting endo77
Resistance at 6650 ish
BEOB on the hourly.


EDIT: the 1HR BEOB just got invalidated.
Never mind the H1 - try the H4
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  • #46,689
  • Oct 23, 2009 12:50am Oct 23, 2009 12:50am
Quoting mbqb11
yep.

Here is a good example of when to leave your order in as nothing has changed


-Mike
Hello,

Are you refering to leaving your SL at full bar (BEOB) for next few bars, without moving it to BE?

Thank you
  • #46,690
  • Oct 23, 2009 1:09am Oct 23, 2009 1:09am
Quoting bee24
Hello,

Are you refering to leaving your SL at full bar (BEOB) for next few bars, without moving it to BE?

Thank you
Hey Bee

I was referring to the fact that if you order was below the pin, the next bar was an inside bar that was so small and insignificant that I would leave my order in even though it hasn't be triggered yet

Mike
  • #46,691
  • Oct 23, 2009 1:12am Oct 23, 2009 1:12am
Quoting bee24
Hello,

Are you refering to leaving your SL at full bar (BEOB) for next few bars, without moving it to BE?

Thank you
Hi Bee

Mike is referring to leaving his entry order below the Pin bar. He can't move the SL to BE as the order hasn't triggered yet. I think what he is saying is if the next bar is also bearish then leave the order in below the Pin but if the next bar was bullish then rather delete the order as price is not moving the way it was expected and chances are the high of the Pin is going to be invalidated.

Just my understanding but I'm sure Mike will correct me if I'm off.
  • #46,692
  • Oct 23, 2009 1:38am Oct 23, 2009 1:38am
Anyone watching the EUR / CAD ... triple bar high at the moment
  • #46,693
  • Oct 23, 2009 2:19am Oct 23, 2009 2:19am
Quoting arctos
Hmm... just another quick newbie question on trading platform - how do those of you seniors using MT4 keep your charts up?
Hey Arctos,

The best way to do that is by setting up ''Profiles'' (Weekly Charts, Daily Charts...) with how many pairs you want. Then you can switch between profiles very fast. Go to File -> Profiles

Regards,
  • #46,694
  • Oct 23, 2009 2:19am Oct 23, 2009 2:19am
Quoting Mikali
Hi Simon,
Thanks for taking the time to post your thoughts - sharing ideas is one of the things that make this thread so special. I believe your assessment on bar size has some merit. In one of my earlier trades this week a AUDCHF PB that failed mbqb11 (Mike) pointed out that a small PB in relation to a strong trend would have a hard time reversing --- this is not exactley the same but I think the underlying idea is close. I also missed on the 1.5650 area as both the daily and weekly charts indicate this being a strong PPZ.

Thanks again,
Mikali...
Hallo Mikali.....a little bit on late but i want to partecipate to this dicussion too

I think that when we want to play a PA,the better thing is to look on a higher time frame ,in the case of the Eur/cad look on the weekly, and try to follow the trend.If up look on my weekly eur/cad chart you'll see how the price made a hugly pin last week.....just above the trend line and MA conlfuence.
For me that's a clear sign of strength.

Very easy to say this after the fact of course....but i hope next time i look at the chart i'll make the same mental process.
I am learnig too.......

ciao
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Patience is essential
  • #46,695
  • Oct 23, 2009 2:22am Oct 23, 2009 2:22am
morning all,

In response to a pm from surpremechaos i'm attaching the indicator that highlights IB's & OB's.

It's a handy litttle tool thats great for quick refference and backtesting alike.

Oh and i'd say it was fairly light on the comp chaos.

screen shot of indicator below

kind regards

ic
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  • #46,696
  • Oct 23, 2009 2:25am Oct 23, 2009 2:25am
Will the .9000 level break!? Hm...
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  • #46,697
  • Oct 23, 2009 2:27am Oct 23, 2009 2:27am
Quoting icarusfx
morning all,

In response to a pm from surpremechaos i'm attaching the indicator that highlights IB's & OB's.

It's a handy litttle tool thats great for quick refference and backtesting alike.

Oh and i'd say it was fairly light on the comp chaos.

screen shot of indicator below

kind regards

ic

always helps to attach the indi lol
Attached File(s)
File Type: mq4 in&out.mq4   4 KB | 599 downloads
  • #46,698
  • Oct 23, 2009 3:02am Oct 23, 2009 3:02am
Quoting icarusfx
always helps to attach the indi lol
lol...

thanks, i'll check if this is similar with the one i have.
i'll compare the code, then test if it is really 'light'/not a memory hog.
  • #46,699
  • Oct 23, 2009 4:11am Oct 23, 2009 4:11am
So what is THIS called ??
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  • #46,700
  • Oct 23, 2009 4:28am Oct 23, 2009 4:28am
crazy people selling due to some stupid news was below consensus lol are these bars even tradeable? seems like huge moves in 1 bar to be game enough to get into it after such big drops?
i can sense some people doing touch trades here and going long
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