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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

  • #47,061
  • Oct 28, 2009 7:32am Oct 28, 2009 7:32am
Quoting g_j_hook@yah
....and for anybody out there who still doubts the method....coughcoughfx00coughcough
jon
This trade is killing me. I had it shorted near the top... I left for a measily 50 pips... and look at her now.
Dr. C
  • #47,062
  • Oct 28, 2009 7:43am Oct 28, 2009 7:43am
Quoting cvcamper
This trade is killing me. I had it shorted near the top... I left for a measily 50 pips... and look at her now.
it happens...
it's normal, so dont worry too much about it.
it would be better to concern yourself more about improving everything u need to improve, than 'missed profits'.
  • #47,063
  • Oct 28, 2009 7:45am Oct 28, 2009 7:45am
what usually happens to prices when they are in between the 150 and 365 ema? am i correct to say that they tend to break out from either one of them?

im watching this :
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  • #47,064
  • Oct 28, 2009 7:50am Oct 28, 2009 7:50am
Quoting cvcamper
This trade is killing me. I had it shorted near the top... I left for a measily 50 pips... and look at her now.
And in the years to come you'll have thousands more like that.

In the "rookie" thread you'll find another trader saying the opposite. ...Holding on to a loosing trade because he missed out one other time by closing early.

Don't focus on the "could have beens". It does no good. Focus on being a good trader, not a hero pip accumulator.
Bundy's status today: "Waiting..."
  • #47,065
  • Oct 28, 2009 8:21am Oct 28, 2009 8:21am
Moving my stop to 135.15, nice profit locked in. Probably just lucky, but I was sure this would get to 135....glad to see it unfold that way.

On Usd/Cad, moving my stop to 1.0645. This has been a great week so far, not that success is measured in a week but I like the momentum the last few months.

Gbp/Usd, still no orders hits - this pair can't seem to make up its mind which may have me removing my orders soon. I am losing interest in this one.

Nathan
  • #47,066
  • Oct 28, 2009 8:47am Oct 28, 2009 8:47am
woah
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  • #47,067
  • Oct 28, 2009 8:48am Oct 28, 2009 8:48am
Hello!

Many of you may caught that EJ trade? Im in too

Good trading!
  • #47,068
  • Oct 28, 2009 8:55am Oct 28, 2009 8:55am
Quoting arthurwtm
what usually happens to prices when they are in between the 150 and 365 ema? am i correct to say that they tend to break out from either one of them?

im watching this :
you can say that, but I personally only use them to stack the odds of a trade setup in my favor (or against) as in using them for confluence and nothing else.

I am not sure why I would ever need 2 lines to cross to show me the direction of the trend or for that matter where price is going.

I will let the horizontal ppzs decide on ranges and supp/res zones which they are best at doing, and when they line up with an MA it will make me slightly more confident in pulling the trigger,

g.
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I believe . . .
  • #47,069
  • Oct 28, 2009 8:59am Oct 28, 2009 8:59am
Quoting ghous
I am not sure why I would ever need 2 lines to cross to show me the direction of the trend or for that matter where price is going.
lol, if you cant tell which direction the trend is heading well before two MAs cross, you probably need to spend less money on trading systems and more on glasses
When you have to shoot, shoot. Dont talk.
  • #47,070
  • Oct 28, 2009 9:16am Oct 28, 2009 9:16am
I'd like to know how many of you have begun trading options incorporating Price Action? I know in at least one video James mentions that he traded an option based on the Price Action he saw. I've been looking at weekly and monthly stock charts on FXPro and seems to be pretty good return if take the best bars.

For instance right now I am biased for XOM call, and IBM put. Any opinions?
"Whether you think you can or can't, you're right." Henry Ford
  • #47,071
  • Oct 28, 2009 9:55am Oct 28, 2009 9:55am
This trade just doesn't want to quit...........443 pips to the positive, 343 or so locked in. I will shut up now before I jinx my trade.......ha ha.
  • #47,072
  • Oct 28, 2009 9:57am Oct 28, 2009 9:57am
Quoting joelcf
lol, if you cant tell which direction the trend is heading well before two MAs cross, you probably need to spend less money on trading systems and more on glasses
Exactly, lol.
I believe . . .
  • #47,073
  • Oct 28, 2009 10:00am Oct 28, 2009 10:00am
Quoting Scot Pippin'
I'd like to know how many of you have begun trading options incorporating Price Action? I know in at least one video James mentions that he traded an option based on the Price Action he saw. I've been looking at weekly and monthly stock charts on FXPro and seems to be pretty good return if take the best bars.

For instance right now I am biased for XOM call, and IBM put. Any opinions?
I am not into stocks yet, but I know for a fact that PA works just as good ( perhaps better) in stocks, futures and every other financial market...

Joel's into them So he'll jump in with a nugget or 2 in a minute...

g.
I believe . . .
  • #47,074
  • Oct 28, 2009 10:01am Oct 28, 2009 10:01am
Quoting dobe_r_man
This trade just doesn't want to quit...........443 pips to the positive, 343 or so locked in. I will shut up now before I jinx my trade.......ha ha.
lol, enjoy every bit of it Dob...you deserve to do so...

Just make sure this liveliness does not translate into over confidence...it hurts when that happens,

g.
I believe . . .
  • #47,075
  • Oct 28, 2009 10:12am Oct 28, 2009 10:12am
Quoting ghous
lol, enjoy every bit of it Dob...you deserve to do so...

Just make sure this liveliness does not translate into over confidence...it hurts when that happens,

g.

Ghous:

Believe me I hear you and it won't ever. I have had some runners lately which is has produced a nice bump to my account, BUT I have been on the receiving end of a flurry of Mike Tyson packed punches from the market many a time in the past....

I defend my capital first and foremost! I trade defensively at all times, so if it came across as over confidence I apologize. I traded 9 months plus at break-even and only in the last 8 months or so have been consistently positive each month. I still have a LONG way to go honestly.

But still.....Go Loonie! ha ha
  • #47,076
  • Oct 28, 2009 10:25am Oct 28, 2009 10:25am
Quoting dobe_r_man
..... I traded 9 months plus at break-even and only in the last 8 months or so have been consistently positive each month...
Congratulations on your Loonie trade.
based on what PA? H4 or Daily? how did u trail this one? which MT4 broker?

since u are already consistent, why not post a little more often. heheh
hopefully your success will propagate through your 'doberman bloodline' & produce more consistent 'litter' in the future.
  • #47,077
  • Oct 28, 2009 10:40am Oct 28, 2009 10:40am
Quoting supremeChaos
Congratulations on your Loonie trade.
based on what PA? H4 or Daily? how did u trail this one? which MT4 broker?

since u are already consistent, why not post a little more often. heheh
hopefully your success will propagate through your 'doberman bloodline' & produce more consistent 'litter' in the future.
You are too funny! I traded it off of the daily on the BUOVB retracement. Honestly, the area/major pivot really at 1.03 brought me to this trade. I had been waiting for it to get to the 1.03 area for some time. I gave it room and time initially, but after the second BUOVB on the daily and the imperfect weekly pin break I started to trail pretty much below the low of the daily bars. Once it broke through and closed above 1.06 (an important area for me) I put stop just under. I am now stopped just under 1.0650 area and waiting to see how it acts at 1.08 area (if it gets there).

I know.....you probably expected something more exciting or some fancy indicator to trail my stops but my method is pretty boring and beyond simple....ha ha.

Oh, I am with Oanda.


Nathan
  • #47,078
  • Oct 28, 2009 11:11am Oct 28, 2009 11:11am
Quoting dobe_r_man
...
Oh, I am with Oanda...
Thanks Nathan.

btw, Oanda's timezone is GMT + what??
(anyone using Oanda..... Thanks!)
  • #47,079
  • Oct 28, 2009 11:29am Oct 28, 2009 11:29am
Took this 4 hour BUOB. Looks good so far. I will say there was not much confluence onthis trade and I am being very careful with it sinc eit is CT but hopefully this turns into a nice BUOB on the DAily and we keep running.


1. the bar is huge
2. it engulfs many many bars
3. It has the 1.63 and 1.62 as protection.

My mindset was to take this trade at 1.6320 and use 1.63 as some support which worked out well. I moved up my stop using the bar break stop after it moved 20 pips from my entry.(manging very tight). I did this becasue if 1.63 did not support this trade i did not want to be in it.

Looking towards 1.65 if it breaks thru 1.64 which I am currently watching.

Take a look any one else have any thoughts on this one?

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  • #47,080
  • Oct 28, 2009 11:41am Oct 28, 2009 11:41am
Quoting dmc
Take a look any one else have any thoughts on this one?

Attachment
i took it, too.

you could also spot divergence with macd.

i will take 2/3 off the table because it has arrived at the 150 ema.
meine augen sind die sterne
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