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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

  • #49,741
  • Dec 15, 2009 4:42am Dec 15, 2009 4:42am
Quoting benji533
Half..
PATIENCE... DISCIPLINE
  • #49,742
  • Dec 15, 2009 4:54am Dec 15, 2009 4:54am
i wish you damn touch traders would leave alone!!!

jon
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PATIENCE... DISCIPLINE
  • #49,743
  • Dec 15, 2009 5:04am Dec 15, 2009 5:04am
Quoting benji533
The power of confluence...

Happy Hanukkah / Christmases to all of you
hey benji...9 pips i missed by 21 ah well usd/cad has been very generous lately $oD
  • #49,744
  • Dec 15, 2009 6:04am Dec 15, 2009 6:04am
Quoting PippingMama
Hello Nasir,

I have a personal advice on those demo trade. It is no harm to test on demo, but it won't give confidence at all when you go for actual live trading or large position.

The problem of demo is will give confidence on some of the low probabilty trade that "works" when you demo....

Quoting Jlr
IMO (take it for whats it worth, not a rac), you took all of these on 2nd, or 3rd touches (like E/G). IMO its best to get in on the first touch, anything after that from my experience is gambling. Sometimes you hit, sometimes you can't even get to B/E, and that is where trouble starts. E/G in particular looks like the biggest gamble, as its already bounced from that level twice, and has put in lower highs both times. It's just looking to break lower imo. Other then that, I think you have the right idea.

Mama,

Well i agree with you totally BUT i want to DO it myself and i have just started practicing this stuff from 1.5 months with time and practice i will filter out these ones.

Jlr,

Yea first touches are amazing if you get them right, but I don't Find myself looking at first Touches most of the times due to my Day job and other personnel issues but Div got me in.
  • #49,745
  • Dec 15, 2009 6:10am Dec 15, 2009 6:10am
I was stopped out on GC for -27.

BE for GU.

Got out of EG for -2 manually.

Trailing UJ and EU and NU is at BE still.
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  • #49,746
  • Dec 15, 2009 6:15am Dec 15, 2009 6:15am
Quoting g_j_hook@yah
i wish you damn touch traders would leave alone!!!
jon
I am thinking about it..........

But where else do we go

This is our Internet HOME.
  • #49,747
  • Dec 15, 2009 8:40am Dec 15, 2009 8:40am
Quoting nasir.khan
I was stopped out on GC for -27.

BE for GU.

Got out of EG for -2 manually.

Trailing UJ and EU and NU is at BE still.
Very well drawn PPZs
Find an Edge. Only way to succeed in this business.
  • #49,748
  • Dec 15, 2009 8:44am Dec 15, 2009 8:44am
Hi guys,
Look at EURUSD Daily at a very nice Weekly/Daily PPZ + round nr 1.045, waiting for PA there ...
Any thought about it ?
  • #49,749
  • Dec 15, 2009 9:37am Dec 15, 2009 9:37am
Quoting jattputt
Very well drawn PPZs
Hey thanks jatt,

After getting over Psychology hurdle, all need you do is to get these PPZ's in place some of them are just for a little halt and some for reversels. Still working on them.
  • #49,750
  • Dec 15, 2009 10:09am Dec 15, 2009 10:09am
Quoting djmanu
Hi guys,
Look at EURUSD Daily at a very nice Weekly/Daily PPZ + round nr 1.045, waiting for PA there ...
Any thought about it ?
I am watching this pair too Djmanu. Waiting mode for me right now, as I won't get involved until I see a price action rejection of some sort from the 1.4500 level. I think price will be drawn to this area soon so I am not putting precious capital at risk just yet.

Nathan
  • #49,751
  • Dec 15, 2009 10:28am Dec 15, 2009 10:28am
This pair is finally rewarding me, it broke the 1.6800 area that had produced four daily bar highs (not to exact pip but very close) and is now crossing 1.6900 area. Would love to see a move to 1.7000 but I have profit locked in regardless of the outcome.

I don't play many break-out trades as I prefer the quicker moves that seem to come with reversals where I am in and out quickly. Anyone that says price action doesn't work (especially at key levels) and won't produce profits over time is misguided. There is no holy grail to be sure, but hands down this style of trading (James16) taylored to the individual trader works. This is not overconfidence (I still and will always have losing trades as well as the never ending quest to keep improving), just appreciation for what Jim and the others have offered on this and the private forum.

I truly believe if you are willing to take the time to learn this, get real trading screen time and are consistent you can eventually become profitable.

Off topic - Does anyone have experience with interactive brokers (other than horrible charting)? I ask because I am considering switching to include additional asset classes (stocks/commodities) at some point.

Nathan
  • #49,752
  • Dec 15, 2009 10:31am Dec 15, 2009 10:31am
Quoting nasir.khan
Yea first touches are amazing if you get them right, but I don't Find myself looking at first Touches most of the times due to my Day job and other personnel issues.
Missed these today.

To be honest AU would've got my SL.

Lets see how this AU PIN works out.
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  • #49,753
  • Dec 15, 2009 10:44am Dec 15, 2009 10:44am
Here is a pic of the new addition to the family on December 21st.
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  • #49,754
  • Dec 15, 2009 11:06am Dec 15, 2009 11:06am
That is an amazing creature, Nathan.

  • #49,755
  • Dec 15, 2009 11:09am Dec 15, 2009 11:09am
Quoting NosferatuMan
That is an amazing creature, Nathan.

But the big question - can she trade using these methods? Ha ha.....
  • #49,756
  • Edited 2:41pm Dec 15, 2009 11:26am | Edited 2:41pm
.
how high can we go in December, 92, 95...97?
.
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  • #49,757
  • Dec 15, 2009 11:49am Dec 15, 2009 11:49am
Quoting dobe_r_man
But the big question - can she trade using these methods? Ha ha.....
Sure she can. At least she will have a great mentor.
  • #49,758
  • Dec 15, 2009 12:12pm Dec 15, 2009 12:12pm
Quoting dobe_r_man
Here is a pic of the new addition to the family on December 21st.
adorable!
  • #49,759
  • Dec 15, 2009 12:52pm Dec 15, 2009 12:52pm
Quoting djmanu
Hi guys,
Look at EURUSD Daily at a very nice Weekly/Daily PPZ + round nr 1.045, waiting for PA there ...
Any thought about it ?
It sure is I am watching this area as well as most would know about me and my Round numbers


Mike
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  • #49,760
  • Dec 15, 2009 12:55pm Dec 15, 2009 12:55pm
Quoting raczekfx
.
how hi can we go in December, 92, 95...97?
.
master on action

I was as well long on all my yen's last week and caught some nice pips but exited before calling the weekend. and not to mention that I'm bullish as well

Nice to see that you are posting again,if you whould'n pass again here I wish you Marry Christams to you and your family and a New Year full with a lot of pips

wish you the best!!
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