james16 Chart Thread

thanks Supremechaos
appreciate it

Hi guys

Hope y'all are doing well with the trading. After a few years of tinkering with Fx and dabbling on this forum in the past I am now at the point where I am going to take this seriously and start at the beginning with the J16 minimum reqs.
Hope to make a contribution to the thread from now on and grow and learn with you lot. The time for dreaming is now over; the time for action has just begun.

Good trading to all in the meantime,

berti

Hey Zoli,

how does these Volume bars help you in your trading.

Thanks

Volume

Before started to look at longer term, relaxed trading, I was interrested in tape reading (that is an attempt to decipher the supply and demand ballance at a particular time by understanding Volume and what it does with Price) and the modern version of it, Volume Spread Analisys.

I know now that intraday trading is not that much my style, I niether have the nerves, nor the time for it. I still like to read Volume, you can check out the VSA thread, the guys there do understand this suff to a great degree. I like that stuff a lot and I am learning to trade with PA in a relaxed mode here at J16 with some other elements I consider useful to me.

Reading Volume and price together gives 2 different information from the instrument, whereas indicators are only derivatives of price action so basically the same info with a twist.
You may understand Volume as the gas for the movement of the price. We do not know from the Volume here whether it was buying or selling with 100% clarity but from the form of the price bars we read out something and make it to a storry to assist our trading.

With Forex it gets more trickier as it is tick Volume and not the actual Contract size, also there is no cantralised exchange. Nevertheless, it indicates the activity on that particular price level. Volume can be used with somewhat more clarity on less liquid markets. The constant moneyflow of the forex and automated trading programs, high frequency trading (If there was a decent dictator out there it would kill all those guys with their super machine as they make money from others with no knowledge but simply because they have mega expensive computers and programms and abuse the loophole of online markets). Also important, that only professional data feeds provide reliably Volume, for example esignal with information from some 200 liquidity provider.

Ideally, you want to see price action which is confirmed by Volume to make the most informed decision. If I see a PIN bar with ultra high Volume, I am happier that if I see it with low. ATM it is rather just practice, my Volume data is shit. Check out Reminiscences of a stock operator, Wyckoff and Tom Williams if you are interrested.

I must admit that tape reading is discreationary to great degree and requires a lot of screen hours to understand it. Even more to master it.

Like most things in trading.

Hope this helps.

Hello berti,
let it begin while continue dreaming
we are all here to help each other...

how many of us, trade based on the news we read?
I hope, you don't waste your time...

.

No sir i don't.

Stops around Just 10-40 pips now they are all on BE with half closed.

wow well done glad that you guys had some great trades, because today it was the worst trading day in 2010 for me i have been stopped out on this one http://www.forexfactory.com/showpost.php?p=3379817&postcount=5198787 and just after that the price has catapulted in the abyss just as i have predicted and because i was paying too much attention to this trade i have missed the UCAD which i was waiting for about two weeks!! and the GU

Looking at this with more interest now. The previous daily swing high was 1.7020. I have a green line alerter set at that level. No divergence on MACD. Let's have a convincing close today. No secret that I'd like to short.

K.I.S.S.

It was just 400pips drop...,
so your balance should be 780,000k now if my math is correct

woow nice one hope someday i will trade such a big trades

Good morning Rac-Attack

Regarding the euro, I totally missed a lot of nice opportunities when I was sleeping cozy in my bed with the wife...

Not too many intra-day opportunities i see, market has been quite choppy. here are just a few couple of trades I am working on.. (just goin after the easier money)


http://www.forexfactory.com/showpost...ostcount=51673

http://www.forexfactory.com/showpost...ostcount=13920

Nzd/usd had the same effect.

I was referring to ehrek's trade. I got stopped out earlier..

yeah i know that you were reffering to ehrek's trade, but as far as i know you have preditcted it will go down too bad you were stopped out

Half of position unload

Waiting for chance to load back...

Hi too, why is this post targeted at me and Ezzy?


I'm no wizard, but to comment about EURNZD daily pin, no, I would not trade it long simply because we are in a huge downtrend, and I'm not very interested in picking bottoms currently

My Weekly PPZ is at 1.9650-1.9800 area, but that's just me, and I'd be looking for shorts only with this pair.

Hope that helps.

Half of position unload...

Dan, hope you still have your eyes set on this pair.......testing trendline (Gold)and at PPZ (white)............see chart below...hoping for signal on low TF for entry

watch my trades for me today guys!

will be back in t-minus 6 hrs.