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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

  • #54,441
  • Feb 9, 2010 7:24am Feb 9, 2010 7:24am
Quoting jarroo
Here is a chart example of the "safer way" on the same type setup on the Daily Chf/Jpy BEOB. Price break a little and then retraces to the round number 86.00. we then look for bearish PA on the 4 hour chart (in green).
ohhh ok,tnx.
Wellcome to the good life!
  • #54,442
  • Feb 9, 2010 7:34am Feb 9, 2010 7:34am
Well, I just got stopped out of my fiber trade for a handsome 20% (i.e., 20RR) profit. Had my stop just above the 38 fib retracement of the latest down swing. Although I'm not yet sure if this is the beginning of a trend reversal or just retracement, I did not want to give back more profit than this. Just got touch triggered long, will manage this (demo) trade tightly, and see if we can get up to the 50 or perhaps even the 62 fib retracement, which coincides with the low of the penultimate down swing.

If all goes as I just mentioned, I'll be looking for a new short entry at one of these levels.

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It's not about how much you make, it's about how much you don't lose.
  • #54,443
  • Feb 9, 2010 7:52am Feb 9, 2010 7:52am
Quoting smikester
Nice charts Nasir. Thanks for posting.
No problem smikester you'll get more.
  • #54,444
  • Feb 9, 2010 7:57am Feb 9, 2010 7:57am
Quoting triger88990
nasir great to see you back

nice trades there

all the best!!
Hey Trig sorry man, did'nt had a decent camera for pics. I'll snap some next time.

Here's Another one this order was sitting since Friday.
.
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  • #54,445
  • Feb 9, 2010 8:06am Feb 9, 2010 8:06am
Quoting jarroo
P

The cool thing about A+ trades is they tend to run and/or move strongly (or continiously) in your direction after the break. So when they don't move in that way. . . .something else is happening. . . so I better protect myself.
If I learned nothing else from this man, this was it. It made a difference.
I'm pretty much done with all this ...
  • #54,446
  • Feb 9, 2010 8:09am Feb 9, 2010 8:09am
Quoting nasir.khan
Hey Trig sorry man, did'nt had a decent camera for pics. I'll snap some next time.

Here's Another one this order was sitting since Friday.
.

funny think I palce those orders today aj and nj didn't take them amonug with my others yen crosess but I have pulled the trigger today and added more on my others yen crosess trades

see charts

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  • #54,447
  • Feb 9, 2010 8:36am Feb 9, 2010 8:36am
Quoting triger88990
funny think I palce those orders today aj and nj didn't take them amonug with my others yen crosess but I have pulled the trigger today and added more on my others yen crosess trades

see charts

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I don't know Trig but i have just started to feel bad about XXX/JPY shorts.
I am getting a strong feeling that they are going up.

See the chart of Gold. Price is retesting yesterday's High and Old resistance.

And look at the 4H BOUB.

We will hit the Yellow line (1100) man.
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  • #54,448
  • Feb 9, 2010 8:45am Feb 9, 2010 8:45am
This beast have rested enough.
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  • #54,449
  • Feb 9, 2010 8:49am Feb 9, 2010 8:49am
Quoting nasir.khan
I don't know Trig but i have just started to feel bad about XXX/JPY shorts.
I am getting a strong feeling that they are going up.

See the chart of Gold. Price is retesting yesterday's High and Old resistance.

And look at the 4H BOUB.

We will hit the Yellow line (1100) man.
.
usually at this time they will change the direction of who they were playing along the day,they where up during the day so I'm expecting for retracements ,so I'm not so worried about it,

anyway if not my sl are in place

is all about probability,we couldn't know for sure what it will do

thats all I know
  • #54,450
  • Feb 9, 2010 9:03am Feb 9, 2010 9:03am
Quoting StoragePro
If I learned nothing else from this man, this was it. It made a difference.
For example....

Last week a PB on the 4Hr.

PB at this confluence:

  1. BRN
  2. PPX
  3. ICCE Fib


Entered the trade, it popped, and I went to BE within an hour. Great setups tend to move hard.

4.9R. My only trade this month. If you learn to wait for the great setups, how many will you need?
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I'm pretty much done with all this ...
  • #54,451
  • Feb 9, 2010 9:35am Feb 9, 2010 9:35am
Quoting StoragePro
For example....

Last week a PB on the 4Hr.

PB at this confluence:

  1. BRN
  2. PPX
  3. ICCE Fib

Entered the trade, it popped, and I went to BE within an hour. Great setups tend to move hard.

4.9R. My only trade this month. If you learn to wait for the great setups, how many will you need?
My guess is 1 or 2.....ha ha. Great trade! Just curious of your exit strategy on this one SP.

Nathan
  • #54,452
  • Feb 9, 2010 9:43am Feb 9, 2010 9:43am
Quoting jarroo
This two trades on the Daily Gbp/Usd, Outside Bars in Oct 2009 probably sum up my approach pretty damn good.

This is a general, yet every effective, approach that allows you to trade a high quality setup or a not so high quality setup while you still adhereing to the number one rule in trading (imo) . . .don't lose money not even demo money.

Its pretty simple and is spoken about every often of this thread. But I believe it is a great way when your starting out with the James16 way trading . (really . . . is there any other way...

And here is my A++++ post

Lately I have realized that what's going on this thread is a complexion of million different ways to trade which reproduce and create many mutations. Nothing wrong with this of course, at the end everyone take the material and fits it to his own personality.
But one must go back to watch Jim's very basic videos and see where he is standing.
Lately I am much more selective when reading posts. But one thing is for sure --> every time my eyes spots the colors of Jarroo's avatar, I know it's going to be a real treat.

Man, it is obvious that you are re-watching jim's and Mike's videos once in a while. I know it helps me.

The thing which really makes me confidant is my ability to actually really predict what price is going to do next. And let me tell you, it is really not hard after a while of feeding your brain with the right info and some screen time. Yes, I am doing my best for going only for the real A++ setups on my real account. But I am also trading A, B,C and D bars on my demo account. Guess what ....between 11 trades this month, only 1was a loser with the original J16 management approach. Break even is a winner folks.
Man. I can actually place some lines on my chart and see how price flips around them for weeks ahead. I already done it, and it came out better than I imagined.
I really believe that having the right account size + this simple understanding, is the only key for opening the door of making this a real business and nothing else.

Till you earn the right account size, it's preparation for the real thing. The one that says that because he has a small account, he is aiming for 20% per month, is heading into the biggest disaster.

"don't lose money not even demo money." Couldn't say it any better myself...perhaps quoting the biguy.."don't let a winner become a loser!!!!"
The man that said that sentence, knows what he is talking about.

And I'll add: "Being a trader is about not trading".
Man, it really takes time for these phrases to actually sink in.

http://www.james16group.us/Guests/vi...iningvideo.wmv

Ben
  • #54,453
  • Feb 9, 2010 9:43am Feb 9, 2010 9:43am
Quoting TiaForex
How good is it to have Jarroo back guys?
And here is another A+++++ poster. Man, good to have you here as well.

And yea, you as well SP
  • #54,454
  • Feb 9, 2010 9:45am Feb 9, 2010 9:45am
Quoting TiaForex
How good is it to have Jarroo back guys?

Don't for a moment take for granted what he's been doing these last 24 hours. He's been taking historical setups and teaching and explaining patiently how this thing works. A really clear simple explanation of PA and of course, the signature Jarroo management style. It's been a real joy to read.

This particular setup is a great little teaching tool. Big daily continuation BEOB retraces the round number produces 4H PA and then moves on. But look carefully at that 4H chart and the importance of...
Very true Aaron,

The Jims (and there are more than 2) and Mikes (In my knowledge at least 2 fall in the category of my "look up ats") have been a true blessing along with several others...

I've said it again and again and I can go on for ever and still not do justice to their efforts:

"This group of philanthropic angels have changed me, and FYI trading's just a teeny tiny part of the new leaf."



g.
I believe . . .
  • #54,455
  • Feb 9, 2010 10:02am Feb 9, 2010 10:02am
Quoting Nina
Hi Nathan, I believe you would find that, although IB will serve as a custodian for your IRA, there are a lot of limits on what you can trade and how much leverage you can use within an IRA account of that kind. You can find this information on the IB website. If you want more freedom, you can set up your IRA with a trust company custodian, then through them set up an account at any broker you like and trade however you wish. Best wishes! Nina
Nina:

Thanks for the info ......I have been checking into it but it appears it is still adequate for my needs.

Nathan
  • #54,456
  • Feb 9, 2010 10:10am Feb 9, 2010 10:10am
Quoting benji533
And here is my A++++ post

Lately I have realized that what's going on this thread is a complexion of million different ways to trade which reproduce and create many mutations. Nothing wrong with this of course, at the end everyone take the material and fits it to his own personality.
But one must go back to watch Jim's very basic videos and see where he is standing.
Personally I have started a selection when reading posts. But one thing is for sure --> every time my eyes spots the colors of Jarroo's avatar, I know it's going to be...
Man you did it again,I can't say it better than you did it

Carry on doing 'the same old things', and those same things will simply keep happening.

.. "feed your brain with the right info and some screen time" you encompasse here the essence of learning this stuff,and this is how is supposed to be done.

Is for sure that he looks over and over to those videos but he his not alone I'm doing it almost at 2 weeks every time,and look back through some post selection that I have made,it was the best think I could have ever done,it keeps you in shape.

Jim words are always speechless,and I'm saying it because I have pass through this issue,and he was so right about account size.....I was finding myself in this situation that I couldn't take profit because the amount of money weren't enough......

The problem for almost all of us is being picky with a small account,thats the real fight

but with patience and time we can beat the "beast".

all the best!!
  • #54,457
  • Feb 9, 2010 10:16am Feb 9, 2010 10:16am
Quoting Dhb
Just got touch triggered long, will manage this (demo) trade tightly, and see if we can get up to the 50 or perhaps even the 62 fib retracement, which coincides with the low of the penultimate down swing.

If all goes as I just mentioned...

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Well, that one didn't quite take off as I would have liked, after breaking through that level. Looking at H4 it seems it was a false break. Just got stopped out, albeit at a reduced loss. Didn't manage to escape at breakeven. Oh well. Followed my plan. That's what matters.
It's not about how much you make, it's about how much you don't lose.
  • #54,458
  • Feb 9, 2010 10:16am Feb 9, 2010 10:16am
Quoting triger88990
Man you did it again,I can't say it better than you did it

Carry on doing 'the same old things', and those same things will simply keep happening.

.. "feed your brain with the right info and some screen time" you encompasse here the essence of learning this stuff,and this is how is supposed to be done.

Is for sure that he looks over and over to those videos but he his not alone I'm doing it almost at 2 weeks every time,and look back through some post selection that I have made,it was the best think I could have ever done,it keeps you in...
Thanks triger.
We are blessed being here
  • #54,459
  • Feb 9, 2010 10:21am Feb 9, 2010 10:21am
nasir hope you didn't close your position

and on the gold I did opposite of what you where doing the same with e/j ,e/u ,saw your chart

just look on daw future contracts chart, 4h chart, tell me what you see

PS: I'm the only one who feels that tomorrow will be a big day
  • #54,460
  • Feb 9, 2010 10:34am Feb 9, 2010 10:34am
Quoting triger88990
nasir hope you didn't close your position

and on the gold I did opposite of what you where doing the same with e/j ,e/u ,saw your chart

just look on daw future contracts chart, 4h chart, tell me what you see

PS: I'm the only one who feels that tomorrow will be a big day
You mean you went short at gold, eu and ej??

Well i just went long on EU, AJ, and i have added more on eu and EG.
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