james16 Chart Thread | Page 2490 | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

Where can I learn more about Price Action like those in James16 charts? 9 replies

Attachments: james16 Chart Thread
Exit Attachments

james16 Chart Thread

  • #49,781
  • Dec 15, 2009 9:48pm Dec 15, 2009 9:48pm
Quoting TiaForex
I'm not Jim but in answer to the first question, I would say that everything in trading is a trade-off. If you decide you're a big trend trader, you know you're always going to give back a chunk at the end. You won't catch the very bottom. So you get used to giving a lot back and hoping for a big runner, hiding your stops behind SR as you move down. I think Jim himself wouldn't have ridden the whole move. He takes partial profit early and then is out fully sooner.

If you trade in the way that would capture the whole move, then you're going to...

Hello atclarkson,

The best approach I like to do is I would like to take profit for half position and use the profit fo the stoploss for the rest of the position, that way you just have a chance lose all the profit or you might have more profit at the end.

The most important is your capital is protected. It is a still a worry free trade. Why not? right? I just like that. You have evaluate the situation whether it is worth to risk the profit or just take all profit.

Capital protection is the core of our business, no one like to risk. That's my 2 cents.


PippingM
  • #49,782
  • Dec 15, 2009 10:06pm Dec 15, 2009 10:06pm
Great post. It's been said so many times on this thread, more or less, "you get better at this with practice." When I began, I figured that meant I would get better at reading charts, identifying ppzs, recognizing price patterns, etc. But now I realize it's much more than that. Trading truly is an art, a skill that has to be acquired. Thanks for the excellent post!

Quoting TiaForex
That last reply I wrote got me thinking about something that's been on my mind a bit lately but it was a little off the topic of what atclarkson wrote so I thought I'd just add a footnote here.

I read something once that the great Darkstar posted. It made no sense to me at the time. He said that the biggest mistake people make is thinking that trading is a science not an art. Jim then said something similar on a webinar of his. It haunted me and only now am I beginning to realise what it means.

What I wanted when I started was the reassurance...
skype: ststroud. let's talk trading.
  • #49,783
  • Dec 15, 2009 10:08pm Dec 15, 2009 10:08pm
Man, I got to thank you for sharing this. Very well said and an extremely good message. you almost put me right there in the moment with you in a way that i think i could improve my own trading right away. I just started following this thread after a long layoff from trading due to a job loss earlier this year, had to close my trading acct. This thread has such a good spirit and rich with knowledge. I look forward to learning here with you guys and demoing these methods so im ready to go live in a few months.

Thanks to all that give their spirit and knowledge here and thanks James16 to start such a wonderful and nurturing place to learn and hone our trading skillz.

ty
bulls

Quoting TiaForex
That last reply I wrote got me thinking about something that's been on my mind a bit lately but it was a little off the topic of what atclarkson wrote so I thought I'd just add a footnote here.

I read something once that the great Darkstar posted. It made no sense to me at the time. He said that the biggest mistake people make is thinking that trading is a science not an art. Jim then said something similar on a webinar of his. It haunted me and only now am I beginning to realise what it means.

What I wanted when I started was the reassurance...
Whats happening in EUR/USD should be happening to you!
  • #49,784
  • Dec 15, 2009 10:13pm Dec 15, 2009 10:13pm
Quoting TiaForex
T
What I wanted when I started was the reassurance of figures, statistics and probabilities. I wanted rules. I wanted "see a 4h pinbar at the 150EMA, pull the trigger". What I hated was when my trade failed and a senior said "well given the weekly trend I wouldn't have done that". Because I wanted a system with quantifiable rules that could be operated by a robot. I wanted it to be a science.

It's just not.
Nice Aaron

This is probably what stops most people. They want it to be 2+2=4. It is the most frustrating I see for people when they post up a trade and hear all the reasons why one person doesn't like it and why one person might. They can't wrap their heads around the fact that it isn't necessarily a black and white answer or rarely is.

It does take time for sure.

Mike
  • #49,785
  • Dec 15, 2009 10:37pm Dec 15, 2009 10:37pm
Dear Benji,

I have been monitoring your AUD/CAD trade, and all I can say is: "wow". Are you out of this trade yet? Thanks!
Many choose unhappiness over uncertainty.
  • #49,786
  • Dec 15, 2009 11:43pm Dec 15, 2009 11:43pm
also confluence with macd, 12,26,9, on H4
Attached Image (click to enlarge)
Click to Enlarge Name: cadchf.gif Size: 40 KB
  • #49,787
  • Dec 15, 2009 11:59pm Dec 15, 2009 11:59pm
another masterpiece by the "english" actor.

Quoting TiaForex
That last reply I wrote got me thinking about something that's been on my mind a bit lately but it was a little off the topic of what atclarkson wrote so I thought I'd just add a footnote here.

I read something once that the great Darkstar posted. It made no sense to me at the time. He said that the biggest mistake people make is thinking that trading is a science not an art. Jim then said something similar on a webinar of his. It haunted me and only now am I beginning to realise what it means.

What I wanted when I started was the reassurance...
  • #49,788
  • Dec 16, 2009 12:02am Dec 16, 2009 12:02am
Quoting james16
CHARTS
great trades james

love your chart that much that I have started to collected them and looking through them once a week at least, they really change my perspective.

At this moment for me it's all about visualization when I look at charts, aiming for a day when I could let my trades run to the moon.

glad to see your post!

wish you the best!
  • #49,789
  • Dec 16, 2009 12:03am Dec 16, 2009 12:03am
i can only guess but i would say they have probably sold off part of the positions but i know one is holding the whole thing.

she has held from the 2nd pin and not sold any unless a 61 fib retrace takes place. that hasnt happened yet.

i dont know that i could do that but remember there is a weekly chart also that she may be looking at.

Quoting atclarkson
james- how come/ how would one would stay in the UC trade even during the 500 and 1000 pip pullbacks? It seems as if you would be giving back so much if it were not to return. (Esp since it retraced nearly half the move) Regardless, amazing catch

Don't mind my newbieness if this is an obvious answer lol


Also.. question on IBs. Where do you enter? Break of 1st bar, break of 2nd bar, or a retracement of some sort?

Thanks
  • #49,790
  • Dec 16, 2009 12:07am Dec 16, 2009 12:07am
thank you. im around i just take this time of the year off. i will be back full strength middle of january.

jim

Quoting triger88990
great trades james

love your chart that much that I have started to collected them and looking through them once a week at least, they really change my perspective.

At this moment for me it's all about visualization when I look at charts, aiming for a day when I could let my trades run to the moon.

glad to see your post!

wish you the best!
  • #49,791
  • Dec 16, 2009 12:22am Dec 16, 2009 12:22am
Quoting james16
i can only guess..ld do that but remember there is a weekly chart also that she may be looking at.
Im a bit surprised u are still posting these days, Sir.
what can i say, good people often do unexpected things.

Sir mbqb11 is doing a terrific job too.
Thank you as always!
  • #49,792
  • Edited 12:49am Dec 16, 2009 12:29am | Edited 12:49am
Quoting mbqb11
Nice Aaron

This is probably what stops most people. They want it to be 2+2=4. It is the most frustrating I see for people when they post up a trade and hear all the reasons why one person doesn't like it and why one person might. They can't wrap their heads around the fact that it isn't necessarily a black and white answer or rarely is.

It does take time for sure.

Mike
Hey Mike, Aaron,

One of the epiphanies I've had lately is that this is very much like driving.

There's no this "ALWAYS" works stuff. Sometimes, you can accelerate, sometimes its just insane to do so.
There're no BLACK & WHITE rules, but there are rules that will keep you safe.

Actually, it's also like playing a video game. You adjust as the game changes, sometimes, you attack, sometimes you defend and sometimes you just hide. It's different each time, but still, more or less the same after you get the hang of it.

Personally, one of my "problems" has been taking this abit too seriously. I realised that for me, that causes this "black or white" kinda thinking.

Actually, the thing that got me thinking was a friend who interned @ Deutche (same dude). The trader he was working under was damn good, but he said, "I dont really like my work. It's boring after awhile. It's like playing the same computer game again & again".

Selah

Merry Christmas guys. Nice to see the thread going again
One Mind, Any Market
  • #49,793
  • Dec 16, 2009 12:37am Dec 16, 2009 12:37am
this is such a great place to learn something useful, but i have had some ambivalent thoughts lately about reading this thread as a... daily newspaper.
the game plan is quite simple after all:
1. discover and master your edge
2. master psychology of trading
3. have enough zeros in your account

ad.1. Jim gave us an example of an edge. it is just one among variety of possibilities. it is simple. learn few pa set ups + location + confluence
ad.2 Jim and many senior member give us many insights into their heads ( sometimes gotta read between the lines) and it is the most precious stuff i can think of that is in this thread. naturally mark douglas comes to mind and what he has to say, but here are real people using real method in real time so it's their thoughts that are priceless so very often
ad.3 and at least this part is really the easiest and up to us- just grab the keyboard or a pen or a hammer or a steering wheel or soccer/basket/foot ball or anything that gives you income and save to finance your account

so the bottom line is :
- james 16 teaches us easy stuff
- one has to master psychology on his own
- if one is in control on earning ability, one is in control of the saving's ability

it is better to stop reading this thread at all after one grasps the essence of it, cause the rest is just practice and perseverance... (it is so easy to start using " senior member indicator"...)
it is essential to fallow one's unique path cause there is no other
it is important to stick to one's ideas to tune up the main idea
and than after a while it is beneficial to contribute back what one has taken from here...

thank you
ps. so stop reading/learning and just practice
  • #49,794
  • Dec 16, 2009 12:50am Dec 16, 2009 12:50am
Quoting Cyrus
... "I dont really like my work. It's boring after awhile. It's like playing the same computer game again & again".
Selah...


so u like driving & video games, huh?
  • #49,795
  • Dec 16, 2009 1:02am Dec 16, 2009 1:02am
Quoting pavulon2007
this is such a great place to learn something useful, ...
very nice post Sir!

Quote
so the bottom line is :...
- if one is in control on earning ability, one is in control of the saving's ability
if i understood this correctly..
this is true but not necessarily always the case, imho.
some people are good at the former, but weak at the latter (good earner but massive spender) or vice versa (weak earner but proficient saver)

Quote
..but i have had some ambivalent thoughts lately about reading this thread as a... daily newspaper.....it is better to stop reading this thread at all after one grasps the essence of it, cause the rest is just practice and perseverance...
imho, this is 1 way of looking at/doing it. if u feel comfortable with this, then do it. doing this will eliminate the uncertainty currently in your head.

what keeping up to date of this thread does:
-constantly present/provide trade examples
-constantly present views of several traders, new & old
-constantly present/provide tips, insights u might be interested in & might not be aware of prior your "lurk & trade" mode; among other things
  • #49,796
  • Dec 16, 2009 1:21am Dec 16, 2009 1:21am
Quoting supremeChaos


so u like driving & video games, huh?
Lol. I sound so streotypical.
I like whiskey & women too.
One Mind, Any Market
  • #49,797
  • Dec 16, 2009 1:27am Dec 16, 2009 1:27am
Hi All,

look at these 4H pin bars. I do not like ACAD and AU as they show the dirrection up and IMO the trend may be down. But I like EA, although it does not seem to be proven by the next bar at the moment.

Which of these three are AA set ups in your opinion?

Attached Image (click to enlarge)
Click to Enlarge Name: MYVSA_126.gif Size: 26 KB


Attached Image (click to enlarge)
Click to Enlarge Name: MYVSA_127.gif Size: 28 KB


Attached Image (click to enlarge)
Click to Enlarge Name: MYVSA_128.gif Size: 22 KB
Kind Regards zol
  • #49,798
  • Dec 16, 2009 1:30am Dec 16, 2009 1:30am
Quoting zoli
Hi All,

look at these 4H pin bars. I do not like ACAD and AU as they show the dirrection up and IMO the trend may be down. But I like EA, although it does not seem to be proven by the next bar at the moment.

Which of these three are AA set ups in your opinion?

Attachment

Attachment

Attachment

Hey Zoli

I personally don't like any of these really here are my reasons.

The eur/aud isn't a pin as the open and close are both not within the previous bar. The other two I don't like personally since it was followed by large down moves and then small pins trying to reverse those moves. They can work but those are good only with very tight mgmt. I just think there are much better spots to get ones hard earned money in at

Best
Mike
  • #49,799
  • Dec 16, 2009 1:52am Dec 16, 2009 1:52am
Looks like today is going to be very volatile.
  • #49,800
  • Dec 16, 2009 2:02am Dec 16, 2009 2:02am
Quoting wh1zz0
Looks like today is going to be very volatile.
Market or Thread.
34 traders viewing now