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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

  • #49,321
  • Dec 7, 2009 5:54am Dec 7, 2009 5:54am
Quoting Scot Pippin'
What are you looking for? I have about 15 on trading.
Upon a little research, I found this site: www.pdf-search-engine.com I'm not sure how "legal" it is, but it works...
Many choose unhappiness over uncertainty.
  • #49,322
  • Dec 7, 2009 6:16am Dec 7, 2009 6:16am
Quoting mattfx
A Christmas Poem for J16 Traders
As the year is drawing to a close, having started the year wishing to be freed from our bosses
It so happened that we needed a mentor to show us the way, to show us the profits and to respect the losses

Yet as surely as Christmas arrives, working hard to make dreams come true,
While the experienced traders look on and say, it is all up to you

So let’s celebrate J16’s thread
And wish him all the best
For as surely as this thread has survived, being something that could not be contrived

We have arrived...
Awesome Matt!

Thankyou for the great gift to this family.

g.
I believe . . .
  • #49,323
  • Dec 7, 2009 6:44am Dec 7, 2009 6:44am
Quoting cityman
Hi
1....

cityman - I am not qualified to answer your questions - as I have never been a part of the PF - My guess however -with the quality of this thread - and the quality of the answers - you will not be dissappointed with the PF.
Personally - I am going to attempt to become successful without it - so that when I do join, I am able to digest the information more correctly the first time through.
Like you I have a 9 to 5'er and get limited chart time - so my only real option is trading daily and weekly bars - which as it turns out that is where all newbie's should start.

by the way - there are many videos and plenty to learn at James16 home page - start there if you haven't already.
  • #49,324
  • Dec 7, 2009 6:54am Dec 7, 2009 6:54am
Quoting triger88990
sorry for that

for the moment I'm busy with scalping on yen crosses, want to push it more higher, preparing for a more longer position

by the way hate doing scalp.

anyway the better I do the less desire I have for posting

wish you the best!!

Hey pro...

yen higher?...I'm short a/j since 82.80 ..


What about long from 79.75 if jones hits 10260 ? - just a beginner..


ohh and... wish you the best!
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  • #49,325
  • Dec 7, 2009 7:10am Dec 7, 2009 7:10am
Quoting cityman
Hi
I am new to FF and have been “trying to trade” forex for nearly a year. I am going through the journey most forex traders go through. I don’t have to explain to you guys about “looking for quick money”, searching for the Holy Grail”, the frustration, depression, fear, greed, anxiety etc. Jumping into trades to be in the market all the time and not willing to wait by the sidelines and all this leading to losses.
I came across J16’s thread last week and have become impressed by price action, J16’s teachings,...
Hi Cityman and welcome to the J16 group,

1. As The PF was started 4 yrs back, I am worried whether there will be an information overload there and whether I will just drown in it!! Do you think one will be able to grasp the price action teachings in at least a few months? To complicate this, I am working fulltime and I have to look for the longer time frames.

A1) You need not worry abt any "information fatigue syndrome". The amount of valuable information at the pf is HUGE but it's very well organized and meant specially for the newbies (nice and easy detailed explanations of the basics as well as the advanced stuff)

Don't worry too much abt the dearth of time, you are in fact recommened to start from the higher tfs even if you wish to try things out on the lower tfs.


2. I understand that there were more than 350 members within the first few months and it is likely to be more crowded now. Is this going to affect the learning process?

A2) lol. not really, the member list is indeed growing but the pf is far...very far from being a clattered place with insufficient attention to any given individual. If you don't believe me shoot Mike (mbqb11- the newbie instructor at the pf) a pm with a question here at the public thread only and you'll know what I mean...these ppl (mike along with the other seniors and the common posters here at this thread) are sick when it comes to helping those in need.

3. The enormity of this thread makes me worry whether I will be able to get the info in a concise and precise manner without having to wander through hundreds and thousands of posts.

A3) Again joining the pf is one option you have for the reasons mentioned above, but it is obviously not an absolute necessity. You must at least go through the first few hundred pages of this thread to get a good hang of exactly what we do,

--------------------

Cheers,

ghous.
I believe . . .
  • #49,326
  • Dec 7, 2009 7:30am Dec 7, 2009 7:30am
Wooooo-Saaaaah...Clear your mind and let price do what it normally does.
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"Whether you think you can or can't, you're right." Henry Ford
  • #49,327
  • Dec 7, 2009 8:50am Dec 7, 2009 8:50am
Quoting benji533
Hey pro...

yen higher?...I'm short a/j since 82.80 ..


What about long from 79.75 if jones hits 10260 ? - just a beginner..


ohh and... wish you the best!
hey bro

I was long but only for a short time,I was playing around it doing some scalp, wanted to help to go much more higher at that time, which it did,for preparing my short. I think you missuderstand me or I didn't put it in the right way but when I say "preparing for a more longer position" (know I haven't expres it in a proper way ) , I wanted to say that my next move I'll stay more time targeting for a much lower price.

haven't enough margin to put in a/j so I pass it. Hope to have soon, enough margin to play all them together

here are my scalp
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and after exited them I shorted both, this one is the second rac favorites, after the fib,of course

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  • #49,328
  • Dec 7, 2009 9:00am Dec 7, 2009 9:00am
Quoting triger88990
hey bro

I was long but only for a short time,I was playing around it doing some scalp, wanted to help to go much more higher at that time, which it did,for preparing my short. I think you missuderstand me or I didn't put it in the right way but when I say "preparing for a more longer position" (know I haven't expres it in a proper way ) , I wanted to say that my next move I'll saty more time targeting for a much lower price.


haven't enough margin to put in a/j so I pass...

lol, I see..not long, but looooong (better for me as well )

This weekend I have started reading rac's posts...going very slowly and did 10 pages so far. To be honest, I already feel I need a second round after I finish, lol.
But I love it, very challenging!

Bummer I can get only about 1,000 through his profile...

Lets see where we stand in a couple of weeks from now

Ben
  • #49,329
  • Dec 7, 2009 9:47am Dec 7, 2009 9:47am
Mr Ben speaking right now

http://bloomberg.com
  • #49,330
  • Dec 7, 2009 10:49am Dec 7, 2009 10:49am
Quoting wh1zz0
Gold and silver showing almost the same thing (only difference is Gold looks better as silver looks close to a ppz)... 700 pips SL

Are you in this Gold trade Mike?
Hey Whizz yes I am it is bouncing at the prior bars low for now, but I am just going to let this develop. Don't worry about the sl. It is all relative and just position size correctly !

Mike
  • #49,331
  • Dec 7, 2009 11:39am Dec 7, 2009 11:39am
I remember those............. not long ago.
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  • #49,332
  • Dec 7, 2009 12:41pm Dec 7, 2009 12:41pm
Quoting tyler812
Probably the book that has helped the most. I highly recommend it as required reading for anyone looking to trade for a living (or even part time, for that matter). I am a very concrete person and, like you said and like Mr. Douglas says in his book, I'm tempted to study the markets and price action more and more to overcome my weakness, which is actually not a lack of knowledge but an incorrent mindset towards trading. My trading has improved drastically since I first read his book. I'm not really taking different trades now, but I'm more confident...
Amen! I could not agree more, I know without a doubt the last hurdle that I finally crossed to get consistent profits was named "trading psychology".

Not that I have it mastered by any stretch, but entries and exits alone were not the answer for me.

Nathan
  • #49,333
  • Dec 7, 2009 1:27pm Dec 7, 2009 1:27pm
I entered a retracement buy entry off of the buob on this pair at 1.696 (and also had another at 1.655 that was never hit). Each order was for half a position.

If it closes in the top range for today I will also enter a break-out entry just above 1.6800 for half of a position. If it can do that I see 1.6900 - 1.6950 in the cards. I will manage my position(s) accordingly based on price action.

Usd/Jpy
I am ashamed to even admit this (but the truth hurts sometimes....ha ha), but I accidentally adjusted my stop of Oanda to just above 88.00 vs. below 88.00 as intended in the .8885 area. In Oanda, you can just physically move the red stop loss line vs. typing in the exact price.

I was trying to do two things at the same time and it COST ME hundreds of pips. I still profited from the trade, but I felt like kicking myself in the twins. It would be more fun to pretend I took all those pips off of that huge move, but it just goes to show how disctractions are never a good thing.

Good trading everyone!

Nathan
  • #49,334
  • Dec 7, 2009 1:48pm Dec 7, 2009 1:48pm
The inconvenience of life. If only I had 24 hrs/day to watch price action...

Well i had a trendline drawn on this head and shoulder pattern on GBPUSD since last week, anticipating price action on the retracement to the trendline (I think I may have even posted it actually... not positive). I have it the 1hr time frame in this picture I attached, but if you zoom to the 30 min. time frame, you will see a perfect PA DBHLC stradling that trendline (where the oval is on the chart).

the 1.6343 line was pre-drawn on my chart as the first problem area. I cannot wait until I am making these plays on a real account succesfully. Thank you everyone here.


Happy trading.
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Many choose unhappiness over uncertainty.
  • #49,335
  • Dec 7, 2009 1:51pm Dec 7, 2009 1:51pm
Quoting Dan Gilbert
The inconvenience of life. If only I had 24 hrs/day to watch price action...

Well i had a trendline drawn on this head and shoulder pattern on GBPUSD since last week, anticipating price action on the retracement to the trendline (I think I may have even posted it actually... not positive). I have it the 1hr time frame in this picture I attached, but if you zoom to the 30 min. time frame, you will see a perfect PA DBHLC stradling that trendline (where the oval is on the chart).


Happy trading.

ugh, I just looked at the 4hr chart, the most obvious BEOB I have seen in a long time LOL! I'll have to look into developing insomnia...
Many choose unhappiness over uncertainty.
  • #49,336
  • Dec 7, 2009 5:30pm Dec 7, 2009 5:30pm
I'm staying awake for this one...
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Many choose unhappiness over uncertainty.
  • #49,337
  • Dec 7, 2009 5:35pm Dec 7, 2009 5:35pm
no1 scoping today's gold daily pinbar?
  • #49,338
  • Dec 7, 2009 6:37pm Dec 7, 2009 6:37pm
Quoting dengzhi
no1 scoping today's gold daily pinbar?
This is a cut and dried "no long trade" for me Dengzhi. I just posted this daily gold chart for you to look at. The bad news for you is that I don't have Mr Gilbert's gift for posting cool looking illustrative charts. I digress. It is very possible that we have seen all that we will see from this pin. Because it has broken, it is a genuine pin bar and we cannot call it a failure. However, we have already pulled back from the first bar low (see chart) that we have encountered. Next stop if we continue long is likely the 1173 area PPZ. I am betting that if it gets there, we could be done moving up and it's all downhill from there. Other things I take into consideration are 1)the range of this bar relative to the previous one. This bar is roughly half the range of the previous bearish bar. 2) My weekly chart gives me bearish bias and 3) this yellow trendline could act as resistance as well. I hope that this helps you.

K.I.S.S.
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  • #49,339
  • Dec 7, 2009 9:26pm Dec 7, 2009 9:26pm
Question for the Seniors RePZ lines

I sent this to James, but I know he's a busy guy.

How many plot out their PPZs and wait for price to come to them, and how many look for good bars and then look for the PPZ around them? I've been having a bit of an issue lately with having zones on my chart. What is better? Most of the uncluttered charts I see on here posted by the senior members leads me to believe you look for PPZ after seeing PA, but I believe it is taught the other way around? (I also see the touch trades and guys taking mediocre bars because of a great location)

What is better? I can see how zones would help big time in lower time frames than daily. I also am getting better at picking where a trade will run to, see trouble etc because of very recent PPZs. I'm just a little confused with everything, and likely just not making it simple enough for myself.

Maybe someone can help straighten my head out

Thanks
  • #49,340
  • Dec 7, 2009 9:29pm Dec 7, 2009 9:29pm
Quoting atclarkson
Question for the Seniors RePZ lines

I sent this to James, but I know he's a busy guy.

How many plot out their PPZs and wait for price to come to them, and how many look for good bars and then look for the PPZ around them? I've been having a bit of an issue lately with having zones on my chart. What is better? Most of the uncluttered charts I see on here posted by the senior members leads me to believe you look for PPZ after seeing PA, but I believe it is taught the other way around? (I also see the touch trades and guys taking mediocre bars...
I think the newer someone is the more they should have these zones pre plotted. This will help combat the trader who sees any old bar and then proceeds to curve fit it to make it work. I personally don't have them plotted. I am very big on round numbers. For this reason I have those on my charts which always gives me a general scope to put each market into. I then work off there as trades meet my criteria, and go through the major and minor ppzs once in a trade for mgmt.

Again this is how I go about it

Mike
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