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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

  • #47,181
  • Oct 29, 2009 1:42pm Oct 29, 2009 1:42pm
Hey Benji,
I don't know where u stand on EA's, but a Breakeven EA is a simple option, or there are some good ones manage take profit also and move you to breakeven. All kinds of good EA's floating around to help manage the trade when you're away.

The only thing is an EA can only do what you tell it to in advance, It cannot measure momentum for you or change it's mind.
"Whether you think you can or can't, you're right." Henry Ford
  • #47,182
  • Oct 29, 2009 1:48pm Oct 29, 2009 1:48pm
Quoting Scot Pippin'
Hey Benji,
I don't know where u stand on EA's, but a Breakeven EA is a simple option, or there are some good ones manage take profit also and move you to breakeven. All kinds of good EA's floating around to help manage the trade when you're away.

The only thing is an EA can only do what you tell it to in advance, It cannot measure momentum for you or change it's mind.
EA which manages your trade?

Sounds too risky IMO, but I would love to see what you are referring to.
Can you please post a link?
  • #47,183
  • Oct 29, 2009 2:08pm Oct 29, 2009 2:08pm
http://www.forexfactory.com/showthread.php?t=9553

This is the one I use when I want to sleep. I use v2-4
For sure, demo it. Also you must remember whether the pair has 3 decimal or not and enter it the same way in the EA.

The programmer gives pretty good rundown of how it works.
"Whether you think you can or can't, you're right." Henry Ford
  • #47,184
  • Oct 29, 2009 2:11pm Oct 29, 2009 2:11pm
Quoting Scot Pippin'
http://www.forexfactory.com/showthread.php?t=9553

This is the one I use when I want to sleep. I use v2-4
For sure, demo it. Also you must remember whether the pair has 3 decimal or not and enter it the same way in the EA.

The programmer gives pretty good rundown of how it works.
Thanks my friend
  • #47,185
  • Oct 29, 2009 2:29pm Oct 29, 2009 2:29pm
Quoting benji533
No dubt hier TF are less stressful.

Here is what sux...I was going to trade this pin. But it was forming exactly when I needed to go out to school. I couldn't enter and leave it open while I'm away

Nevermind...NEXT!!!!!
DANG MAN THAT IS A++++
  • #47,186
  • Oct 29, 2009 2:36pm Oct 29, 2009 2:36pm
Quoting mbqb11
DANG MAN THAT IS A++++

Next time take your laptop to school lol.
"Whether you think you can or can't, you're right." Henry Ford
  • #47,187
  • Oct 29, 2009 2:37pm Oct 29, 2009 2:37pm
Interesting setup on EJ. Possible 2day pinbar with breakline just over the 136 round number. In case of break i'll enter with tight stop under 136 level.
Gdp was a real mover today ;]
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  • #47,188
  • Oct 29, 2009 2:38pm Oct 29, 2009 2:38pm
Quoting Scot Pippin'
Next time take your laptop to school lol.
ha the good thing when I was in school is my major was business, so they expected you to have a laptop. That meant games/chatting/trading/poker at all times!

**disclaimer, i do not endorse such behavior, do not attempt the things presented above, they usually lead to poor grades**

  • #47,189
  • Oct 29, 2009 2:40pm Oct 29, 2009 2:40pm
Quoting raczekfx
and few more closed last night before reversing..
Hi Raczek,

Those really tiny purple "dots" on your chart, are they mini-TLs from lower TFs? Many thanks!
One Chart is Worth Ten Thousand Words.
  • #47,190
  • Oct 29, 2009 2:49pm Oct 29, 2009 2:49pm
Hi guys / girls - can someone explain what a 2-day pin bar is please?

Thanks
  • #47,191
  • Oct 29, 2009 2:51pm Oct 29, 2009 2:51pm
Quoting mbqb11
DANG MAN THAT IS A++++
Yea, my target now is to trade only this pattern cause it gave me the highest win rate I had. The R:R isn't large as touch trades, but I want to do touch trades only with profits.

Now...if someone can make me an EA which alerts when there is a nice+ pin off a major round number plus div of RSI (6), I'll be grateful **(seriously, if someone here is a programmer, I'm ready to pay)**

The real thing which is important for me about the large win rate, it actually psychologically thing...I did the same on demo.

Quoting Scot Pippin'
Next time take your laptop to school lol.
lol

Tomorrow I'm at home all day, so I hope to catch something
  • #47,192
  • Oct 29, 2009 2:56pm Oct 29, 2009 2:56pm
Quoting lovejoy80
Hi guys / girls - can someone explain what a 2-day pin bar is please?

Thanks
Hey Love

A 2 day pin is simply when you combine 2 daily bars to give you a bar that would look like a pin

You take the open from bar one and the close from bar two, and you take the highest high of both bars and the lowest low of both bars

Example

if you took the open from the first bar and the close of the second. Visually combine them it would be a 2 day pin. It is simply another way to visualize and aggregate historical price movements. Often times someone says 2 day pin, and it is really a BEOB, or BUOB any way. Here is a case where it is not any single price bar we use, but combined it would be a nice pin
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  • #47,193
  • Oct 29, 2009 2:58pm Oct 29, 2009 2:58pm
Quoting benji533
Yea, my target now is to trade only this pattern cause it gave me the highest win rate I had. The R:R isn't large as touch trades, but I want to do touch trades only with profits.

Now...if someone can make me an EA which alerts when there is a nice+ pin off a major round number plus div of RSI (6), I'll be grateful **(seriously, if someone here is a programmer, I'm ready to pay)**

The real thing which is important for me about the large win rate, it actually psychologically thing...I did the same on demo.



lol

Tomorrow I'm at home...
yes I would pay for this too, but I have yet to see any that identify quality bars, something is always off which means bells and alarms go off 24/7. I sleep little enough as it is LOL
  • #47,194
  • Edited 3:29pm Oct 29, 2009 3:14pm | Edited 3:29pm
Quoting benji533
I'm closing charts for today to avoid a revenge trade.

Good luck.
Well, I said I am closing my charts for today....but can still have fun on demo ( saw is when I posted the this pair's chart almost 2 hours back and jumped on it immediately lol )


EDIT: seems to be problem with viewing the pic..not sure what it is
  • #47,195
  • Oct 29, 2009 3:16pm Oct 29, 2009 3:16pm
Quoting mbqb11
yes I would pay for this too, but I have yet to see any that identify quality bars, something is always off which means bells and alarms go off 24/7. I sleep little enough as it is LOL
Yea thats the problem. I am using round number alerts and pin bar alerts, but they don't to the job.

ANY GOOD PROGRAMMER HERE?
  • #47,196
  • Oct 29, 2009 3:29pm Oct 29, 2009 3:29pm
Quoting benji533
Yea thats the problem. I am using round number alerts and pin bar alerts, but they don't to the job.

ANY GOOD PROGRAMMER HERE?
Hey Benji,
try getafreelancer.com. I used this resource to write indicators. There are some smart people out there that would do anything for $30-50 or even $100 if you are willing to pay.
In case you don't know, it's a freelancer ebay-like website where you post your project with DETAILED requirements and how much you willing to pay for it. Then people start bidding. The good thing is that they bid down, not up
Give it a try...you'll like it. Pretty handy when you have a paper due and don't have time as well
  • #47,197
  • Oct 29, 2009 3:33pm Oct 29, 2009 3:33pm
Quoting FX_Serg
Hey Benji,
try getafreelancer.com. I used this resource to write indicators. There are some smart people out there that would do anything for $30-50 or even $100 if you are willing to pay.
In case you don't know, it's a freelancer ebay-like website where you post your project with DETAILED requirements and how much you willing to pay for it. Then people start bidding. The good thing is that they bid down, not up
Give it a try...you'll like it. Pretty handy when you have a paper due and don't have time as well

Tahnks FX_Serg, that sounds good. But is their an option to try the indicator before paying?

I have searched for some PA alerts and it seems that none are good enough. I always get alerts about tiny dojis no matter how I try to twist the settings.
  • #47,198
  • Oct 29, 2009 3:38pm Oct 29, 2009 3:38pm
Quoting benji533
Tahnks FX_Serg, that sounds good. But is their an option to try the indicator before paying?

I have searched for some PA alerts and it seems that none are good enough. I always get alerts about tiny dojis no matter how I try to twist the settings.
If you write in the requirements that you have to test the indicator before completion of the project, then yes, you can try it out and if you don't like anything they'll fix it.
The whole thing is pretty flexible. I've seen people there that ordered 50 press releases for $50 on some complicated subject (quantum biology or something like that ) and made the service provider rewrite like 5 of them.
It's a common practice. Just make sure you break down the task into points. What indicator, what color, location, customizable or not, some other modifications. Think it out, spend an hour for a task with pictures and then post.
  • #47,199
  • Oct 29, 2009 3:43pm Oct 29, 2009 3:43pm
Quoting jspeakman
As a complete newbie, would you say there is also a nice trend line from the pinnish bar on 2 August from which H4 is currently bouncing, confirming weekly pin? (sorry if i am talking rubbish)

Thanks

Jezza

Quoting jspeakman
Hi Jaroo

This was what I was thinking (probably history now - maybe) - sorry as attachment, how do you insert charts into thread

Thanks

Jezza
Quoting jarroo
Nicely done jon.

Let me show you why this was not only a great setup on the 4 hour but also a great setup to hold for the longer term. I know you closed full position and there is nothing at all wrong with that. But your low risk entry on the 4 hour could produce a huge gain.

We have on the Weekly a BEOB and a bullish PB. The BEOB is at swing High as with the Bullish PB. So the PB is not at the ideal location, so I would favor the BEOB which is where we want it, at a swing High. Don't get me wrong, the bullish PB could turn out to be very...
Hey js. Still not sure how your trendlines supported the retracement 4 hour BEOB.

The key thing with trendlines, Round Numbers, Fib levels, 50% ret levels, long term MAs, etc., is that they are confluencing tools that we like to see line up with PPZ levels. Also the higher time frame of which they appear, the stronger they become.

Concentrating on finding PPZ levels is a great way to start and then go from there.


So what you say js , show me a chart with some PPZ levels on it and let's see if we can find some great locations.

Jim
Indicators show the past. Price Action "Indicates" the future.
  • #47,200
  • Oct 29, 2009 3:44pm Oct 29, 2009 3:44pm
Quoting FX_Serg
If you write in the requirements that you have to test the indicator before completion of the project, then yes, you can try it out and if you don't like anything they'll fix it.
The whole thing is pretty flexible. I've seen people there that ordered 50 press releases for $50 on some complicated subject (quantum biology or something like that ) and made the service provider rewrite like 5 of them.
It's a common practice. Just make sure you break down the task into points. What indicator, what color, location, customizable or not, some other modifications....
Cool

I am now looking at the site...I think I will go for it.
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