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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

  • #49,881
  • Dec 16, 2009 3:46pm Dec 16, 2009 3:46pm
Quoting mbqb11
Welcome BANDB

Yep you can use this stuff on any type of security out there. Price is universal and it is a beautiful thing

Mike
  • #49,882
  • Dec 16, 2009 3:47pm Dec 16, 2009 3:47pm
Quoting benji533
ok....lost me

I will sleep on it...and let you know if I get any reasonable idea...lol....still junior
Shoot me pm with your email address. I may send you chart present for Christmas/Hanukkah ...
  • #49,883
  • Dec 16, 2009 4:21pm Dec 16, 2009 4:21pm
Quoting BullsAndBear
Hi guys,

what are your favorite markets to trade?

thx
bulls
Metals, Oil, and Mini Dow at FXPRO
"Whether you think you can or can't, you're right." Henry Ford
  • #49,884
  • Dec 16, 2009 4:46pm Dec 16, 2009 4:46pm
Quoting james16
simple yet profound. trust me when i tell you that there can be a day when your looking at a chart and you would bet your mamas life you know whats going to happen.

it takes more chart time than most people are willing to give but its true.

how long you ask?

years.
I hope that none of this sounds too corny but YEAH it's just like anything else you do. I happen to ride a dirt bike through the woods at a very brisk pace. Trees don't forgive you when you hit them at 35 mph. Hit one at this speed and you will know what that metal ball feels like in a pinball machine. When I first started riding a few years back, I remember thinking that the guys who could move like ghosts through the forests (sometimes 50 plus mph) had some special talent. Maybe they do but they all had to start somewhere. Without any exceptions, the ones that make the challenge look easy have been riding for years. Those that I ride with will tell me of their mistakes, what they have learned and of course their accomplishments. I use their information to give me the mental preparation for what I am about to experience myself. Just like trading, riding can be a compelling venture. I do believe that the stakes can be equally as sobering. Everyone eventually wrecks, some get back on, some don't and unfortunately some can't. In order to get the most out of my experience I will need to improve. The only way I can improve my riding is to have time on the seat. My riding mentors go by the names "pops", "gramps", Randy, Burl, Dan and so on. The only way I can improve my trading is to have time on the chart. My trading mentors go by the names "Fudd", "James16", "Rac", "Mike W" and so on. I wouldn't do any of this without their help and advice.

I have read about poor souls trading that lose a HEAP of money because they refused to respect what this market can do to their account in a VERY short time. I guess that it will always just floor me to hear/read these posts on the active threads about someone being down very substantailly in their first few days of trading with large money. They saw/heard of someone making big money in the market and just jumped in as soon as they mastered the buy/sell pull down menu on the broker platform.

If anyone reading this wants proof as to how much time it takes to learn how to read S/R and PA when you have a family and a full time job, just go to page 1 of "KISSFan's Trading Journal" and read the first 30 posts by me. The first thing that comes to mind when I read my old material is that I didn't know enough to know even where to start. The second thing is that I didn't have the proper mindset. Both are most critical. I wasn't even trying to learn PA at that time when I first started posting and it is only by the grace of God that I didn't blow up my acct.

Take your time learning this material. You have time, I assure you. A major mistake early on can keep you from enjoying the ride that you have yet to experience.

Keep It Safe Students!

K.I.S.S.
  • #49,885
  • Dec 16, 2009 5:05pm Dec 16, 2009 5:05pm
Quoting KissFan

Take your time learning this material. You have time, I assure you. A major mistake early on can keep you from enjoying the ride that you have yet to experience.

Keep It Safe Students!

K.I.S.S.
Yeah. Thanks for that but where will the OMG/WTF be next week...

Seriously; I'm almost 60 years old (57) & I placed my first trade more than 30 years ago. Before some of you were born.

The Absolute Toughest lesson was not about H/S or S/R or TL...
It was about ME getting to grips with understanding that I may be wrong on occasion. Then it was about how to minimize my losses. After that I got some semblence of how to Milk a good Trade. I wonder what I will learn next...
  • #49,886
  • Dec 16, 2009 5:13pm Dec 16, 2009 5:13pm
Quoting KissFan
I hope that none of this sounds too corny but YEAH it's just like anything else you do....
Great post IMHO.

For me, one thing I love about trading is that it teaches the human being a lot of hard facts as many analogies and concepts of life are seriously related to trading. I'm basically not the same person I was about 3 years back.
  • #49,887
  • Dec 16, 2009 5:19pm Dec 16, 2009 5:19pm
The Markets; A Paradox; Human Intervention:

Who Made that a Pinocchio Bar?

I wanted to build my own house but I know nothing about foundations so I hired the pros to look after that bit.
Then I built the house of my (actually my Wife's) dreams on top of it.

Anyone see a problem there?

I actually did build my wife's house of her dreams but I didn't let anyone else have any say on how it should go.
(I've supervised the construction of over 1,000 homes for other people)

So What?
Here's what.
There is no joining in half way through because you think you know the Basic $#it. Read it All.

Human Intervention. Think about this 'cause it's the only steering wheel available to the Markets.
Individual or Corporate or Government, It's People that Move The Market.

Who Scalps?
Not the Government. If Corporate does, then they do it with a slush fund account.
Individuals Scalp.

OK. So now I understand who I'm playing against when I scalp but I keep reading about this Raise Your Timeframe stuff.
How do I Play against Corporate & Govt.?

You Don't.

Go back & look at some PPZ's in history. How many Small Spec Traders do you think it would take (in colusion) to defend those attacks?

Right; We are not strong enough to pervade. So, I resolve to be a Student of those that have control.

This is not a Fight. It can be if you want it to be but I don't know why you would.
This is about brown nosing the powers that be & riding their coattails.

My ICCE thing was bourn after I realized this. I noticed that the Big Dogs had reached some sort of detante & that one of them would,
eventually, take advantage.
I only put a Scale to it.

Do you believe the News Spikes are caused by Small Cap Specs?
That's a battlefield I would avoid unless I happen to be there already.
  • #49,888
  • Dec 16, 2009 5:24pm Dec 16, 2009 5:24pm
Quoting Bemac
The Markets; A Paradox; Human Intervention:

Who Made that a Pinocchio Bar?

I wanted to build my own house but I know nothing about foundations so I hired the pros to look after that bit.
Then I built the house of my (actually my Wife's) dreams on top of it.

Anyone see a problem there?

I actually did build my wife's house of her dreams but I didn't let anyone else have any say on how it should go.
(I've supervised the construction of over 1,000 homes for other people)

So What?
Here's what.
There is no joining in half way through because you...
this is why I love ya B
  • #49,889
  • Dec 16, 2009 5:36pm Dec 16, 2009 5:36pm
All the great/inspirational writers coming out of their caves again.. Nice
  • #49,890
  • Dec 16, 2009 5:50pm Dec 16, 2009 5:50pm
http://www.forexfactory.com/showpost...ostcount=49775
http://www.forexfactory.com/showpost...ostcount=49778


Tia.... this rocks. Thank you for taking the time to reply (and go way beyond what I was asking, but answering questions I didn't even know I had as well ) That really actually cleared up alot for me.


I have a long ways to go in this journey ahead of me... but I'm getting there step by step!
  • #49,891
  • Dec 16, 2009 5:54pm Dec 16, 2009 5:54pm
Hey wh1z... Whatcha watcin' these days?
  • #49,892
  • Dec 16, 2009 6:09pm Dec 16, 2009 6:09pm
Quoting Bemac
Yeah. Thanks for that but where will the OMG/WTF be next week...

Seriously; I'm almost 60 years old (57) & I placed my first trade more than 30 years ago. Before some of you were born.

The Absolute Toughest lesson was not about H/S or S/R or TL...
It was about ME getting to grips with understanding that I may be wrong on occasion. Then it was about how to minimize my losses. After that I got some semblence of how to Milk a good Trade. I wonder what I will learn next...
Yes Sir Mr Bemac! I agree completely with you and I missed that very important point in my monologue. That new experience is always lurking just around the corner. We will never be able to learn it all will we?

K.I.S.S.

57? That's not THAT old.
  • #49,893
  • Dec 16, 2009 6:12pm Dec 16, 2009 6:12pm
Quoting Bemac
Hey wh1z... Whatcha watcin' these days?
Yo Bemac... well, nothing much B, I guess I'm pretty much done with trading for the year as I closed my short position on gold & my little long position on GU yesterday. Just doing reviews, more researches on probability & reading good books (like the one I'm currently reading Mathematics of Gambling) to keep my mind refreshed.

You?
  • #49,894
  • Dec 16, 2009 6:15pm Dec 16, 2009 6:15pm
Quoting wh1zz0
All the great/inspirational writers coming out of their caves again.. Nice
Most of the Real Traders that hang out at FF are now just dabbling in Trades.
Sounds really Class Orientated but I'm actually calling all FF Serious Traders out.

Here's the deal.
The next few weeks are, as we know, going to contain the slowest trading opportunities of the year.
How 'bout we spill the beans on (not the current) how to observe the Market.

US President Obama:
failing to aquire global recognition as the the saviour...BMc

Let's have it.
  • #49,895
  • Dec 16, 2009 6:19pm Dec 16, 2009 6:19pm
now that made me laugh.

your only 8 years older than me but i bow o great one.

Quoting Bemac
Most of the Real Traders that hang out at FF are now just dabbling in Trades.
Sounds really Class Orientated but I'm actually calling all FF Serious Traders out.

Here's the deal.
The next few weeks are, as we know, going to contain the slowest trading opportunities of the year.
How 'bout we spill the beans on (not the current) how to observe the Market.

US President Obama:
failing to aquire global recognition as the the saviour...BMc

Let's have it.
  • #49,896
  • Dec 16, 2009 6:54pm Dec 16, 2009 6:54pm
Quoting james16
now that made me laugh.

your only 8 years older than me ...
Just wait until you are my age...
8 years ago I was looking at being secure within a decade.
You (yes You James) assisted in getting me there.
co - incidentally; My only Son's name "James Robert..."
  • #49,897
  • Dec 16, 2009 6:54pm Dec 16, 2009 6:54pm
"Bemac,
The Absolute Toughest lesson was not about H/S or S/R or TL...
It was about ME getting to grips with understanding that I may be wrong on occasion. Then it was about how to minimize my losses. After that I got some semblence of how to Milk a good Trade."



I can't help but mention how Bemac's word's of wisdom correspond with the action wisdom Rac showed us with today's EURUSD trade.



Thanks!
  • #49,898
  • Dec 16, 2009 7:02pm Dec 16, 2009 7:02pm
Quoting james16
another masterpiece by the "english" actor.
I just noticed this and it made me laugh. (Jim says that by the way I talk he swears I'm from Texas, he can't believe I am English....lol)

That's right Jim. I am Bill from down the road. I told ya that time that I'd get ya good didn't I? Who's laughing now?

  • #49,899
  • Dec 16, 2009 7:07pm Dec 16, 2009 7:07pm
Quoting james16
now that made me laugh.

your only 8 years older than me but i bow o great one.
Yeah and I'm still smiling too.
  • #49,900
  • Dec 16, 2009 7:35pm Dec 16, 2009 7:35pm
Nice posts on the last few pages. I'm all caught up. And yeah this market is boring right now lol! Seems like the trades i'm in are just going sideways..... *yawns*
Many choose unhappiness over uncertainty.
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