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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

  • #51,461
  • Jan 13, 2010 12:19pm Jan 13, 2010 12:19pm
In post no. 14330, what does "CT" mean?

Quoting Ryanmcd
Trade PB's that pull back on a trend and enjoy a winning 90%. CT trading is just stupid and a good way to blow out a account. Yes when I started doing PB's I CT traded them because that's when they show up 95% of the time. If I did not know what I was doing I would of been screwed many of the times.

Mike has a good point, think of playing the market like playing cards, only trade the rich deck's and dont screw with the 4-9 off-sute's....
  • #51,462
  • Jan 13, 2010 12:22pm Jan 13, 2010 12:22pm
hey mike does this qualifies a cherry??
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  • #51,463
  • Jan 13, 2010 12:23pm Jan 13, 2010 12:23pm
Quoting gjworley1952
Hey Roger , nice pin may be developing on 4 hr ?? good pips my friend , Gary
What feed? FXPro did not close as a pin. IBFX shows in 1hr 38min.

Can someone tell me how to post an Oanda chart?

K.I.S.S.
  • #51,464
  • Jan 13, 2010 12:28pm Jan 13, 2010 12:28pm
Quoting nasir.khan
hey mike does this qualifies a cherry??

What chart is that Nasir? Also, What feed is that?

K.I.S.S.
  • #51,465
  • Jan 13, 2010 12:31pm Jan 13, 2010 12:31pm
Quoting marxdhr
In post no. 14330, what does "CT" mean?
Counter Trending? ie: Going against the trend.... that's my guess....
That which does not kill me, makes me stronger.
  • #51,466
  • Jan 13, 2010 12:42pm Jan 13, 2010 12:42pm
Quoting nasir.khan
.
See this is how markets move.

And EJ is for you Rac.

Hey Kiss thats Oil future at FXPRO.
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  • #51,467
  • Jan 13, 2010 12:51pm Jan 13, 2010 12:51pm
Quoting Investor7
Counter Trending? ie: Going against the trend.... that's my guess....
you are correct CT means counter trend.

Hunri
  • #51,468
  • Jan 13, 2010 12:53pm Jan 13, 2010 12:53pm
yep, CT = counter-trend.

Quoting Investor7
Counter Trending? ie: Going against the trend.... that's my guess....
skype: ststroud. let's talk trading.
  • #51,469
  • Jan 13, 2010 12:58pm Jan 13, 2010 12:58pm
Quoting KissFan
Can someone tell me how to post an Oanda chart?
Hey Kiss, you can detach the Oanda chart (so we don't see all your account info) and then press "Alt" and "Print Screen" simultaneously.

Then open up your favorite paint program (or snipping tool) and press "Ctrl" and "v" simultaneously to paste it from your clipboard.

Look forward to seeing your Oanda chart Kiss.

-- Danny
  • #51,470
  • Jan 13, 2010 2:08pm Jan 13, 2010 2:08pm
2H PB, Done....

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4H PB, Done....

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Now what?.....
That which does not kill me, makes me stronger.
  • #51,471
  • Jan 13, 2010 2:12pm Jan 13, 2010 2:12pm
Quoting raczekfx
I don't want friends' money. We're all friends here, right?

I'll take it from the market instead...
I meant him giving you his money to trade
One Chart is Worth Ten Thousand Words.
  • #51,472
  • Jan 13, 2010 2:22pm Jan 13, 2010 2:22pm
Quoting Treefingers
Yep looks that way, have tightened my stop & locked in 100 pips.
hmm looks like a classic case of not having confidence in my trade, should have left this one alone. Oh well on to the next, still took profit & learning all the time.
Learning to be rigid in my rules & flexible in my expectations
  • #51,473
  • Jan 13, 2010 2:38pm Jan 13, 2010 2:38pm
Quoting KissFan
What feed? FXPro did not close as a pin. IBFX shows in 1hr 38min.

Can someone tell me how to post an Oanda chart?

K.I.S.S.
sorry Roger ,im on ibfx , the pin was in the early stage .just wanted you to have a heads up !
  • #51,474
  • Jan 13, 2010 2:41pm Jan 13, 2010 2:41pm
Quoting Treefingers
hmm looks like a classic case of not having confidence in my trade, should have left this one alone. Oh well on to the next, still took profit & learning all the time.
Tree:

There was no guarantee nor will there ever be on what price may do (well, unless you are rac......ha ha). Nothing wrong with locking in 100 pips if you were following your plan. Sure, after the fact it seems obvious price would get to around the 1.6000 area but there was no guarantee. What if price continued dropping and you didn't lock in any profits?

You can play this game after every trade you make (and don't make for that matter but thought of taking)....where in some instances holding was the better plan whereas others a TP was the better plan. Over time I really think it evens out if you are consistent. I can show you trades of mine where I nailed a TP right before it reversed the very next day as well as others that blew through my TP several hundred more pips. AFTER THE FACT I can possibly convince you why I should have held or vice versa but that is wasted effort in my opinion.

I used to be guilty of this (the armchair quarterback approach after each and every trade), but I can tell you from experience the quicker you get away from that type of thinking the better. I think I really turned a corner in my trading when I became more focused on whether I followed my plan or not vs. what happened that was out of my control. I can't control price (unfortunately), but I can control myself. Anyway........just some food for thought!

Nathan
  • #51,475
  • Jan 13, 2010 2:50pm Jan 13, 2010 2:50pm
Quoting Forex007
I meant him giving you his money to trade
220 pips intra-day trading just the euro yesterday, and today's NY session..

I don't need anyone trading my money, thanks.

But i still wouldn't mind having a beer and pickn his brain.. he is a brilliant trader

Oh and, the shorted was based on my own gut intuition, and you can see it was shorted at a higher level if you quote my live real-time post.
lowest draw down possible please.
  • #51,476
  • Jan 13, 2010 2:54pm Jan 13, 2010 2:54pm
Quoting dobe_r_man
I think I really turned a corner in my trading when I became more focused on whether I followed my plan or not vs. what happened that was out of my control. I can't control price (unfortunately), but I can control myself.
Very well said!

I wholeheartedly agree! Plan your trade and trade your plan we all know that right? Then one day you suddenly understand the meaning of the phrase. I understood it not at all long ago. I can't quite describe it, but it's like you've suddenly got a shopping list with you in the food mart instead of running around with no list picking up what catches your eye.

Not that I was a bad trader before but I'm certainly a better one now.
  • #51,477
  • Jan 13, 2010 3:06pm Jan 13, 2010 3:06pm
Quoting dobe_r_man
Tree:

There was no guarantee nor will there ever be on what price may do (well, unless you are rac......ha ha). Nothing wrong with locking in 100 pips if you were following your plan. Sure, after the fact it seems obvious price would get to around the 1.6000 area but there was no guarantee. What if price continued dropping and you didn't lock in any profits?

You can play this game after every trade you make (and don't make for that matter but thought of taking)....where in some instances holding was the better plan whereas others a TP was the...

Ta Dobe, appreciate your thoughts.
Learning to be rigid in my rules & flexible in my expectations
  • #51,478
  • Jan 13, 2010 3:42pm Jan 13, 2010 3:42pm
Quoting Forex007
I meant him giving you his money to trade
That's what I meant. You take money from friends (whatever the purpose), ... and you have no friends.
  • #51,479
  • Jan 13, 2010 3:44pm Jan 13, 2010 3:44pm
Quoting ehrek
220 pips intra-day trading just the euro yesterday, and today's NY session..
But i still wouldn't mind having a beer and pickn his brain..
...
you're kiss'n and rock'n.....

I lost 50ps on fiber!

beer won't do, .... but with Hennessy Beaute du Siecle Cc or Henri IV... who knows
  • #51,480
  • Jan 13, 2010 3:52pm Jan 13, 2010 3:52pm
Quoting raczekfx
you're kiss'n and rock'n.....

I lost 50ps on fiber!

beer won't do, .... but with Hennessy Beaute du Siecle Cc or Henri IV... who knows
Just let me know when, and I can have the bottles arranged anytime.. NEIGHBOUR
lowest draw down possible please.
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