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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

  • #54,181
  • Feb 5, 2010 12:17pm Feb 5, 2010 12:17pm
YEAH AGAIN BABY.

Quoting Dhb
Jim,

Not only do I want to thank you for starting this thread and everything that has evolved from those first few charts, I particularly would like to thank you for the videos in your PF guest section. Your rants and charts video has been praised many times in this thread, and I agree with that praise, but for me, it was the swissy video trilogy that gave me the aha-moment that made me see charts like I didn't before, and which made me understand where price is likely going to go to next, where it might run into trouble and reverse, and, if that...
  • #54,182
  • Feb 5, 2010 12:18pm Feb 5, 2010 12:18pm
DUDE THERE ARE E-BOOKS BASED ON THIS THREAD ALL OVER THE NET.

hundreds.

Quoting datogio
man they are in competitive business if we consider the number of invisibles down there from time to time.
  • #54,183
  • Feb 5, 2010 12:21pm Feb 5, 2010 12:21pm
james16, do you pay any attention to fundamentals/news. Just a thought, if you don't like news the least one could do is to not trade over it, i went long AUDJPY and got stopped out damn quick for a swing trade as i held over news
  • #54,184
  • Feb 5, 2010 12:25pm Feb 5, 2010 12:25pm
Quoting james16
seriously all i want is a safe place to raise my kids and the freedom to pursue my dreams without someone telling me they know better how to run my life.

is that too much to ask?
Man, is that the way all Texans think? If so, I think I know where I want to live!!

Here in the UK we have been suffering from socialist nonsense since 1997 and we are finally paying the price! One day people might wake up and realize that they (the socialist governments) don't know better than us!!

Regards,

Dan
  • #54,185
  • Feb 5, 2010 12:26pm Feb 5, 2010 12:26pm
Quoting joelcf
lol, you arent alone. where the hell did that spike come from?

The thing is, you have so many people buying francs at the moment, especially over the last few months - no european wants to be in euros atm, they want something safe that wont implode if spain and greece collapse.

And so after last nights bad news, that's just going to be magnified. Bad news leads to fear leads to panic leads to buying francs in Europe, yen in Asia and USD everywhere else. The SNB would be kinda crazy to try and run a deval program in the middle of a rush of bidding....
and how I wished I took that graduate economic program... or maybe apply for a local CFA course in a few weeks

Ever since I started trading I became interested in economics and money and began reading books on and documentaries on banks and monetaries.

now I'm reading through investopedia just to fill in the blanks.
  • #54,186
  • Feb 5, 2010 12:27pm Feb 5, 2010 12:27pm
no sir i dont.

i avoid it like the plague.

Quoting TGpop
james16, do you pay any attention to fundamentals/news. Just a thought, if you don't like news the least one could do is to not trade over it, i went long AUDJPY and got stopped out damn quick for a swing trade as i held over news
  • #54,187
  • Feb 5, 2010 12:27pm Feb 5, 2010 12:27pm
Quoting james16
im on my usual pre-weekend piss off a bunch of people/divert the thread away from trading routine in case you havnt noticed.

Yeah - it is cathartic.

BTW - I don't know if you do Facebook, but there is a dude out there know as "ShitMyDadSays" Funniest thing I've seen in a long time.
I'm pretty much done with all this ...
  • #54,188
  • Feb 5, 2010 12:30pm Feb 5, 2010 12:30pm
thats exactly why we all skipped out a little over 200 hundred years ago dan.

the way things are going were gonna have to do it again.

you guys get things straightened out over there and we will come home.



Quoting DanUK
Man, is that the way all Texans think? If so, I think I know where I want to live!!

Here in the UK we have been suffering from socialist nonsense since 1997 and we are finally paying the price! One day people might wake up and realize that they (the socialist governments) don't know better than us!!

Regards,

Dan
  • #54,189
  • Feb 5, 2010 12:31pm Feb 5, 2010 12:31pm
Quoting james16
no sir i dont.

i avoid it like the plague.
That's fine, personally i just like to feel in the know, econ does move currencies significantly at times. But at the end of the day price is price. what do you think of this trade i made the other day waited ages and ages for it and it went so well.
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  • #54,190
  • Feb 5, 2010 12:32pm Feb 5, 2010 12:32pm
i do it for you.

no facebook.

to much of a past with ex girl friends.

some of them have been trying to find me for 30 years.

i really need to go to bed but im having a giddy kind of tired fun.

Quoting StoragePro
Yeah - it is cathartic.

BTW - I don't know if you do Facebook, but there is a dude out there know as "ShitMyDadSays" Funniest thing I've seen in a long time.
  • #54,191
  • Feb 5, 2010 12:33pm Feb 5, 2010 12:33pm
Quoting marxdhr
Can you please, please point me to any posts or other materials that explain in detail suggested exit strategies that work for some posters? There has to be at least some suggested methods that I can test rather than being left to guess and find the method through trial and error. It seems inefficient to review 50,000+ posts to find exit strategy suggestions. I will do that if necessary, but I am hoping that you can point me in an efficient direction.

Thank you again for responding.
Hey Marx

The trial and error part is very important. There are numerous ways I see all kinds of people exiting. I think it is very important to go through all of Jims posts and the other seniors around here, you will learn a lot more then I could ever summarize. If you notice none of them have a set rule. They have guiding principles but they are still flexible(the discretionary part that people get hung up on). You have such a variety of techniques and all can work and all can fail if not applied correctly(this is the trial an error part) for example

-full take profit at the first trouble area
- 1/4-3/4s of first profit area rest to b/e(or use the profit and move stop to where you would be net b/e)
-Trail stop in the variety of ways to reduce risk and allow more room to run(this is important to do with the BEST bars, not small ifffy ones).
-Take full profit at predetermined area let trade play out
- Trail with a MA
-Watch basic s/r and PA at the areas and respond accordingly

The list is HUGE and the most important thing is to test and get a feel for what works for you. I use a combo of the above(as note from that link I sent you) from a lot of trial and error. It is simply where I am comfortable looking at a trade that fits my method and working from there. I am conservative, I wait for A+ setups.

Hope that helps
Mike
  • #54,192
  • Feb 5, 2010 12:34pm Feb 5, 2010 12:34pm
Quoting james16
thats exactly why we all skipped out a little over 200 hundred years ago dan.

the way things are going were gonna have to do it again.

you guys get things straightened out over there and we will come home.
Lol... good point!!
  • #54,193
  • Feb 5, 2010 12:35pm Feb 5, 2010 12:35pm
Quoting james16
couple of emails this morning questioning if i ever sleep. the answer is yes but not today so far.

went to bed at 430 am. 4 year old wakes up at 6 with an earache and im up waiting to hear from wife at the doctor.

wife just called from doctor says its an ear infection.

i say im going to bed she says trey wants to talk to you.

trey says daddy im coming home to see you dont go to bed.

jim feels sorry for the little guy and is still up.

im trashed but what the hell im a good dad.....or at least i try.

have a great weekend everyone,...
Hey my sleep schedule

Tell the little guy to feel better
  • #54,194
  • Feb 5, 2010 12:36pm Feb 5, 2010 12:36pm
Quoting james16
ahh shucks.

your too kind my friend.

im actually a short tempered, jaded, stuck in my ways, hard assed, alamo loving, texas for seccession, america-love it or shut the f$%$ up mean son of a bitch.

seriously.

where is my bed?

btw how come so many people get to have invisible as the same username?

your heart is as big as your passions, why we love ya
  • #54,195
  • Feb 5, 2010 12:38pm Feb 5, 2010 12:38pm
Quoting StoragePro
BTW - I don't know if you do Facebook, but there is a dude out there know as "ShitMyDadSays" Funniest thing I've seen in a long time.

You don't lie my man. http://twitter.com/shitmydadsays This old guy is the original Dude. haha
I dream, therefore I become.
  • #54,196
  • Feb 5, 2010 12:39pm Feb 5, 2010 12:39pm
Quoting StoragePro
Nice rant Tia -

I don't know Jack about no intervention, in fact, I pay no attention to news or other manner of 'talk'. Fundamentals are a misnomer for me. That stuff is so complex that applying the term "Fundamental" is just plain silly. People get economics degrees over the course of many years and then work as a grunt for many more to begin to understand that stuff. I ain't got the time!

But I do know PA works. Period.

.

Funny thing is I know plenty of kids with big economic degrees(I had to take a LOT of economics in college) and they know the "basics" which almost have zilch to do with in real time reality of economics let alone APPLYING it to the markets(and the FUTURE condition of the markets). This is where people get so trashed. They try to take BS systems and apply what they believe is fundamental analysis and end up with the most insane stuff ever. I am not against fundamental, I simply believe it is even harder to understand and apply correctly then learning basic solid TA. The one man that I miss is Merlin. If you guys had access to his old old posts where he would actually explain FA and APPLY it. The man was a genius.

Mike
  • #54,197
  • Feb 5, 2010 12:41pm Feb 5, 2010 12:41pm
its funny how things work like that.

my dad was a degreed geologist. grew up around geology.

could have cared less.

about 15 years ago im standing outside carlsbad caverns and someone points over at the guadulupe mountains and says thats an ancient reef. everything you see for as far as you can see was an ocean and your standing on an ancient beach.

ive been hooked ever since.

when they cut roads here and expose cretascious limestone 100 million years old i take my kid fossil hunting.

hold a seashell in my hands from north texas that was "alive" in an ocean here 100 million years ago.

outstanding rush i get from that when i find something never seen by any human.

Quoting marcelnyo
and how I wished I took that graduate economic program... or maybe apply for a local CFA course in a few weeks

Ever since I started trading I became interested in economics and money and began reading books on and documentaries on banks and monetaries.

now I'm reading through investopedia just to fill in the blanks.
  • #54,198
  • Feb 5, 2010 12:43pm Feb 5, 2010 12:43pm
Quoting mike w
You don't lie my man. http://twitter.com/shitmydadsays This old guy is the original Dude. haha
hahah yeah that was if hilarious and so is the guy who has his twitter linked to his Toaster.

all you saw was

"toast ready" or somthing lol
  • #54,199
  • Feb 5, 2010 12:43pm Feb 5, 2010 12:43pm
Quoting TheFutureAce
I want to ask a simple question. If I join J16's private website. does anybody know if anybody on the private website posts live trades and the analysis for taking the trade?

let me know
Hi there,

I have a confession to make, this was my exact thought at the first time I joined the PF, I skipped most of the learning part, I watch other people's journals for nice PA bars... and got burned real bad on a large account.

I was desperate, looking for quick fixes and yes, a signal service, by that time I haven't even read the public thread to page 10 and don't even have a clue what are PPZs.

Now, about a year after that moment, I've read through the whole public thread and done the minimum requirements, but got no funds to trade with anymore

I'm not in any way pointing that you're looking for a signal service, I'm just sharing my bad experience, that place is a heaven of learning, but I (and many others with more experience than me) strongly advice that you read through the whole public thread at least once, then join the PF, you'll get more that way

Hope that helps,

Marcel.
  • #54,200
  • Feb 5, 2010 12:48pm Feb 5, 2010 12:48pm
Quoting james16
i do it for you.

no facebook.

to much of a past with ex girl friends.

some of them have been trying to find me for 30 years.

i really need to go to bed but im having a giddy kind of tired fun.
Some of the ones I can drop here

"No, I'm not a pessimist. At some point the world shits on everybody. Pretending it ain't shit makes you an idiot, not an optimist."

"Can we talk later? The news is on... Well, if you have tuberculosis it's not gonna get any worse in the next 30 minutes, jesus."

"Universe is 14 billion years old. Seems silly to celebrate one year. Be like having a f*cking parade every time i take a piss."

"I like See's candy. Put me in a See's store, I'm eating candy. The whole world is Tiger's See's store, and the candy is vagina."

"Son, no one gives a shit about all the things your cell phone does. You didn't invent it, you just bought it. Anybody can do that."


LOL!
I'm pretty much done with all this ...
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