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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

  • #48,661
  • Nov 24, 2009 8:08pm Nov 24, 2009 8:08pm
Quoting Majestic12
hi . I just entered the euraud trade on the strength of a 4 hour pin. i took it because i thought the daily setup added a lot more weight. Trade is nicely in profit and i'm at BE. Lets hope it turns into a nice daily trade.

This week and last week is my first time trading realtime j16 stuff after spending a month or so trading it in a faster simulator. So far all 15 trades i have taken have been winners!!!! (i count break evens as winners). i'm honestly amazed at the results. I'm now seriously considering joining the j16 website to fine tune these...
The pin you traded on really helped my confidence in what looked like what was going to be a losing daily trade. almost double-topish.....
Many choose unhappiness over uncertainty.
  • #48,662
  • Nov 24, 2009 10:49pm Nov 24, 2009 10:49pm
Quoting james16
pig flu has had me away for a while.

what is this j16 manager ea?

i want to give it a look. who created it?

sorry, im behind it seems.

thanks,

jim

Hey Jim,

First off, hope you're feeling better!

Second, thanks to everyone who posted in response already

J16 Manager is an EA I had built by a member on here who goes by "Fulltime247" to monitor trades while I am asleep or away from the computer. I had it made after many frustrations of missing moves and ending up in drawdown, and testing other more complicated EAs. I set it on every trade I take, and then let it do it's thing. (it also sends a message to my phone when it moves to BE or moves stops... which is uber cool)

It's a very simple EA, and it works exactly as Wamo described (thanks Wamo ) But as you teach us, this can be very powerful trade management.

I've attached it again for you and anyone else who wants to give it a shot. Feel free to test it out, I hope you like it! It certainly takes alot of emotion and worry out of trading for me, and I don't have to check up on my trades as often.

I hope you don't mind me putting your name on it tho...

See http://www.forexfactory.com/showpost...ostcount=47845 for my 'manual' of sorts.

Take care,


PS: Seeing people using my EA puts a HUGE smile on my face! I'm so happy people are using it to make pips!
Attached File(s)
File Type: ex4 J16Manager.ex4   6 KB | 2,595 downloads
  • #48,663
  • Nov 25, 2009 1:00am Nov 25, 2009 1:00am
Hi All,

Thought I would share something which I am sure alot of users in ths forum will find very useful. If you were like me screen shot editing was done in paint or whatever application you have..

If you are runnning Vista or Windows 7 there is a 'snipping tool' native to the OS....and it is very good. I have included a link which details how to create a shortcut to the tool....this makes taking screenshots of your setups an absolute breeze!

http://www.howtogeek.com/howto/windows-vista/assign-a-shortcut-key-to-the-snipping-tool-in-windows-vista/

I was pretty excited to find it hopefully someone else here may be equally as excited!

10-4

Scooter
  • #48,664
  • Nov 25, 2009 3:18am Nov 25, 2009 3:18am
that is pretty cool thanks for that! I will have to use the snipping tool more often. It seems very handy. better than doing all the steps through ms paint
  • #48,665
  • Nov 25, 2009 3:56am Nov 25, 2009 3:56am
lol just testing that snipe thing! it's great thanks scooter

ps it's gbp/jpy 1h chart
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  • #48,666
  • Nov 25, 2009 3:57am Nov 25, 2009 3:57am
At the moment I don't trade lower than the 4h and am still on demo but I can see why it is tempting sometimes. Just a setup I noticed this morning.
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  • #48,667
  • Nov 25, 2009 4:28am Nov 25, 2009 4:28am
See http://www.forexfactory.com/showpost...ostcount=47845 for my 'manual' of sorts.

Take care,


PS: Seeing people using my EA puts a HUGE smile on my face! I'm so happy people are using it to make pips![/quote]

Hi atclarkson,

Just wondering, the EA does not function, I have had a look at the code, the code appears non-existent, any suggestion would be welcomed...I see it has not extracted to experts with the associated mq4 file, is it protected....or a problem at my end ?
Thx
Without women, money would have no meaning - Aristotle Onassis
  • #48,668
  • Nov 25, 2009 4:51am Nov 25, 2009 4:51am
Just to let everyone know I can see a convergence of Matt's on the daily at the J16 forum lol Great stuff, to all the Matt's here....

Anyway I have edited my signature believe to be one of the great truisms of all time

Cheers
Without women, money would have no meaning - Aristotle Onassis
  • #48,669
  • Nov 25, 2009 5:11am Nov 25, 2009 5:11am
Quoting mattfx
See http://www.forexfactory.com/showpost...ostcount=47845 for my 'manual' of sorts.

Take care,


PS: Seeing people using my EA puts a HUGE smile on my face! I'm so happy people are using it to make pips!
Hi atclarkson,

Just wondering, the EA does not function, I have had a look at the code, the code appears non-existent, any suggestion would be welcomed...I see it has not extracted to experts with the associated mq4 file, is it protected....or a problem at my end ?
Thx[/quote]

hi matt, i've used the ea and it works fine... go into tools, options and ea and do as below!

yes code it protected

regards

ic
Attached Image
  • #48,670
  • Nov 25, 2009 5:16am Nov 25, 2009 5:16am
Many Thanks

That's what I was looking for, the happy face I had import dll switched off...an issue of trust I guess ?

Thanks again
Without women, money would have no meaning - Aristotle Onassis
  • #48,671
  • Nov 25, 2009 5:40am Nov 25, 2009 5:40am
Batter my arse if 3 of my recent trades, which I pulled out of because I thought price was stalling, didn't go on to be winners. Out of 4 trades, one winner and those 3 which were breakeven. Could have been 4 out of 4.

In future, no pulling out of trades unless I'm more convinced price is reversing.

EUR/AUD is a typical example.

1. 8 Hour bearish Pin.
2. At Swing High.
3. With the trend, (on higher TFs)
4. Off RN .6300
5. Off FIB 76.4
6. Off Daily Trendline.

Price stalled around .6240 ish for about an hour. Then I closed the trade and KABLAMMO! Price shot down!



...
Attached Image
  • #48,672
  • Nov 25, 2009 5:44am Nov 25, 2009 5:44am
So much for that gorgeous looking weekly BEOB
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  • #48,673
  • Edited 6:25am Nov 25, 2009 5:56am | Edited 6:25am
I was in this trade also from the daily pin presented 20 Nov, yet did not get to manage the trade when it broke..... when it initially moved below for 30 pips that is, the stop was left above the daily high around 1.6370 and it retraced over 144pips against my initial entry while I pushed out the Zeds,....sooooo......I waited it out, and then managed to close at BE as I should have when it first broke that daily PB, sometimes this is possible, othertimes it will just reverse without any warning and takes out stop1, yet my forward results show that a good daily or even weekly, such as the A+ trades as described by the J16 method will pretty much keep you in the right direction, even when you keep the stops at the high of the daily bar, yet over time trade and risk management will put you well in front, especially when you use "real money" ...........such is this robust method of trading. Much like others here, I imagine, it is almost physicaly impossible to manage trades when your distractions are else where at times, such as sleep, and the other daily distractions, full time occupation etc yet like pipmyride, I am curious about his position ?

Good trade and money management all....
Without women, money would have no meaning - Aristotle Onassis
  • #48,674
  • Edited 6:49am Nov 25, 2009 6:35am | Edited 6:49am
Quoting pipmyride
So much for that gorgeous looking weekly BEOB
It appears that this weekly BEOB is still in play at this time..(7:34 A.M. EST)...We have only retraced about 67% of the bearish weekly bar so far, and this bar should remain in control of the PA until it's high is taken out.
  • #48,675
  • Nov 25, 2009 7:08am Nov 25, 2009 7:08am
Maybe a reversal on the GBPUSD 4 Hr yet I don't like the fact that the right eye is not closed lower, even by a proxy bar to the left of your charts...hmmmm
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Click to Enlarge Name: GBPUSD_02 Nov. 26 00.04.jpg Size: 110 KB
Without women, money would have no meaning - Aristotle Onassis
  • #48,676
  • Nov 25, 2009 7:18am Nov 25, 2009 7:18am
correct math, this is where I drill down to lower time frame of the 4Hr to a front row seat, some traders are looking for the 78.6 and ppz at 6800 for the reversal...see chart
Without women, money would have no meaning - Aristotle Onassis
  • #48,677
  • Nov 25, 2009 7:36am Nov 25, 2009 7:36am
That damned puppet only comes with lies, and strings attached.......
Without women, money would have no meaning - Aristotle Onassis
  • #48,678
  • Nov 25, 2009 7:47am Nov 25, 2009 7:47am
Quoting Dan Gilbert
I'm still short on the EURAUD daily bearish pin break.... thing retraced BIG drawdown on me, but I'm a believer! and actually it looks like it's moving back down again.... Still in the trade, first target is 1.6110, then I'm moving stop to break even and 50% profit take....
Dan, I am getting impatient - please bring it down to 1.6105 if you don't mind....ha ha.

Nathan
  • #48,679
  • Nov 25, 2009 7:57am Nov 25, 2009 7:57am
Quoting atclarkson
Hey Jim,

First off, hope you're feeling better!

Second, thanks to everyone who posted in response already

J16 Manager is an EA I had built by a member on here who goes by "Fulltime247" to monitor trades while I am asleep or away from the computer. I had it made after many frustrations of missing moves and ending up in drawdown, and testing other more complicated EAs. I set it on every trade I take, and then let it do it's thing. (it also sends a message to my phone when it moves to BE or moves stops... which is uber cool)

It's a very simple...

I made this little image for my own reference when I'm setting up a trade....
Attached Image (click to enlarge)
Click to Enlarge Name: j16expertadvisor.jpg Size: 86 KB
Many choose unhappiness over uncertainty.
  • #48,680
  • Edited 8:17am Nov 25, 2009 7:57am | Edited 8:17am
Don't forget the EURAUD trade involves selling the EUR and buying the AUD, if the front can stay steady, then you half a chance, yet what I see is both EUR and AUD moving up, therefore EURAUD should move down
Without women, money would have no meaning - Aristotle Onassis
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