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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

  • #47,821
  • Nov 9, 2009 10:15am Nov 9, 2009 10:15am
Quoting arthurwtm
with MT4,

can you set it to take partial profits automatically?

lets say i have a position of 1 lot, and i want to take profit for 0.6 lot at a certain level while leaving 0.4 lot in position?

if possible...how is it done?
Just double click on your order, input the lot size you want to close and click close
  • #47,822
  • Nov 9, 2009 10:25am Nov 9, 2009 10:25am
Quoting o990l6mh
Not with IBFX in my experience, it'll just say that sell isn't allowed due to hedge rules and nothing will happen.

With Oanda and maybe others it does work.
Ok wasn't aware of that. Another option is to split your order up. So instead opening one lot up. Open to .5 lots up. Then you can manage them each independently

Mike
  • #47,823
  • Nov 9, 2009 10:29am Nov 9, 2009 10:29am
I've got a very simple EA I had made if anyone is interested.

Closes x% of position at y pips profit.
also
Moves stop to n at m pips profit.

Example:
Closes .5 of lot (50%) at 30 pips profit.
also
Moves stop to 0 (BE) at 20 pips profit.

And it sends you a message when it does it. So cool.
Takes alot of emotion out of the equation and you don't have to watch your trades (especially handy for those who trade before bed or work) Just check in when you get your alert!
  • #47,824
  • Nov 9, 2009 10:35am Nov 9, 2009 10:35am
Is anyone looking to buy into Cable imminently if it bounces off 1.67?
  • #47,825
  • Nov 9, 2009 10:45am Nov 9, 2009 10:45am
Quoting atclarkson
I've got a very simple EA I had made if anyone is interested.

Closes x% of position at y pips profit.
also
Moves stop to n at m pips profit.

Example:
Closes .5 of lot (50%) at 30 pips profit.
also
Moves stop to 0 (BE) at 20 pips profit.

And it sends you a message when it does it. So cool.
Takes alot of emotion out of the equation and you don't have to watch your trades (especially handy for those who trade before bed or work) Just check in when you get your alert!
I'd like a copy of that EA. I was going to write one myself, but don't wish to reinvent the wheel, err... EA.

Thanks for offering!
  • #47,826
  • Nov 9, 2009 10:56am Nov 9, 2009 10:56am
Quoting MattW
Is anyone looking to buy into Cable imminently if it bounces off 1.67?
Buy? Not if the daily bar closes with the look it has now.

A 4H bounce would be a different matter, but that's yet to happen.
  • #47,827
  • Nov 9, 2009 11:05am Nov 9, 2009 11:05am
see that you guys have been able to catch lot of action

I couldn't watch the market,busy with other stuff but I have just make the first step and open an bank account,hope that till the end off the wekend be able to found my tiny account,and switch to an live account.

for today just one trade,almost catch the top of this move,it's a tuch trade learn it from rac

wish you the best!!

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  • #47,828
  • Nov 9, 2009 11:10am Nov 9, 2009 11:10am
I'm very interested in the EA you mentioned concerning stop losses. If you could post that, it would be great! I work a lot of hours, so I often shy away from plays because I won't have adequate time to watch them. This would help eliminate some of those misses. Thank you and good trading to all.
  • #47,829
  • Nov 9, 2009 11:26am Nov 9, 2009 11:26am
just saw this psychologica level .9300

price is making a beautiful double top with nice divergence

price have run,from 0.89, to this area without any sort of retracement, a nice PA would be nice.

lets see if she give some signs of exhaustion, a look at gold for more clues would give us more bias.

just make plan for the upcoming day

wish you the best!

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  • #47,830
  • Nov 9, 2009 11:50am Nov 9, 2009 11:50am
Quoting arthurwtm
just wanna ask, isnt 1.67 a significant PPZ?
or does it cease to be significant after the nose of the pin pierces it by so much?
I think you're still looking at it from the perspective of daily candles. What I'm saying is that if you zoom into H4, or H1 charts, you will see how now it clearly is acting as a support zone.
Attached Images
Many choose unhappiness over uncertainty.
  • #47,831
  • Nov 9, 2009 12:04pm Nov 9, 2009 12:04pm
Quoting o990l6mh
Buy? Not if the daily bar closes with the look it has now.

A 4H bounce would be a different matter, but that's yet to happen.
How about now?

http://i729.photobucket.com/albums/w...d4h10thNov.jpg
  • #47,832
  • Nov 9, 2009 12:07pm Nov 9, 2009 12:07pm
Quoting MattW
How about now?

http://i729.photobucket.com/albums/w...d4h10thNov.jpg
Oh Yea!

Just placed a pending order above that bar high!
  • #47,833
  • Nov 9, 2009 12:09pm Nov 9, 2009 12:09pm
There's also a flag on EURUSD 15min that might be worth watching btw.

Now, back to reading through this thread!
  • #47,834
  • Nov 9, 2009 12:19pm Nov 9, 2009 12:19pm
Quoting triger88990
just saw this psychologica level .9300

price is making a beautiful double top with nice divergence

price have run,from 0.89, to this area without any sort of retracement, a nice PA would be nice.

lets see if she give some signs of exhaustion, a look at gold for more clues would give us more bias.

just make plan for the upcoming day

wish you the best!

Attachment
Great divergence, but what I don't like is on the hourly timeframe price is just hovering and bouncing below .9300.......almost like it is catching its breath before it takes off again!! I would definitely wait for some prime price action before going short myself on this one........but then again I could be dead wrong.

Nathan
  • #47,835
  • Nov 9, 2009 12:24pm Nov 9, 2009 12:24pm
Quoting o990l6mh
There's also a flag on EURUSD 15min that might be worth watching btw.

Now, back to reading through this thread!
I noticed this too, 4hr inside bar straddling the 1.5000..... hmmmmmmm
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Many choose unhappiness over uncertainty.
  • #47,836
  • Nov 9, 2009 12:47pm Nov 9, 2009 12:47pm
Quoting Dan Gilbert
I noticed this too, 4hr inside bar straddling the 1.5000..... hmmmmmmm
Same type of action on the Aud/Usd on the 4hr time frame..............curious to see if they break above or below these inside bars. Is it the pause before continuing higher or getting ready to drop back down.
  • #47,837
  • Nov 9, 2009 12:53pm Nov 9, 2009 12:53pm
Any one looking at this pair to take a long position if there is price good price action in the next few days.

Its near the 1.00000 mark
  • #47,838
  • Nov 9, 2009 12:58pm Nov 9, 2009 12:58pm
Exiting my position with +/- 40 pips, finding support at 0.8950 and think it is best to exit for now.

If it does break below .8900 in the near future I will look to sell on a retrace back .8900.


Nathan
  • #47,839
  • Nov 9, 2009 12:59pm Nov 9, 2009 12:59pm
In my mind, this little multi-bar high (highlight in blue) will get broken, and a run up will occur. my real problem with this trade is that it will hit a trouble area very quickly around 135.82. But if I set a buy stop now (around 135.18), and practice tight trade management on the approach of 135.82, is this a reasonable play?
Attached Image
Many choose unhappiness over uncertainty.
  • #47,840
  • Nov 9, 2009 1:13pm Nov 9, 2009 1:13pm
Quoting dobe_r_man
Same type of action on the Aud/Usd on the 4hr time frame..............curious to see if they break above or below these inside bars. Is it the pause before continuing higher or getting ready to drop back down.
I guess this is where we decide if the trend really is our friend or not
Many choose unhappiness over uncertainty.
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