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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

  • #54,901
  • Feb 12, 2010 12:02pm Feb 12, 2010 12:02pm
Good Day.

I would like to ask you guys how many pips in profit would you move your S/L to breakeven. I have learned the hard way of the importance of moving S/L to breakeven and now tend to move once I'm 25-30 pips in profit.

Cheers

Pipage
  • #54,902
  • Feb 12, 2010 12:36pm Feb 12, 2010 12:36pm
Quoting Dhb
... Hilariously funny as they are, the accuracy of the explanations given is quite scary.

Have a nice weekend everyone!

http://www.youtube.com/watch?v=mzJmTCYmo9g
http://www.youtube.com/watch?v=hXBcmqwTV9s
http://www.youtube.com/watch?v=lWDdcD-1xoo
http://www.youtube.com/watch?v=ScwGBNMH428
Watched every minute of every one of them & split a rib laughing at the Irony/Sarcasim.

Everyone who does not have a Full Understanding of Who they are Playing against/with should view these. {Biased as they may be.}

Thanks for the chuckles. Got My weekend off to a great start.
FijiTrader :
I would really like you to pull these vidoes into General Joe Trader context & assist me in the effects the Big Boys Intentions have on My Trading Abilities.
BMc
  • #54,903
  • Feb 12, 2010 1:37pm Feb 12, 2010 1:37pm
Here's a pretty little peach! It'll be interesting to see how next week opens up. Have a great weekend ladies and gents!
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I dream, therefore I become.
  • #54,904
  • Feb 12, 2010 1:43pm Feb 12, 2010 1:43pm
Such a tease. Passed out last night with the market moving rapidly in my favor. Oh well, profit is profit, and its not very hard to set an alert and wait for a beep

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  • #54,905
  • Feb 12, 2010 2:09pm Feb 12, 2010 2:09pm
Quoting Pipage
Good Day.

I would like to ask you guys how many pips in profit would you move your S/L to breakeven. I have learned the hard way of the importance of moving S/L to breakeven and now tend to move once I'm 25-30 pips in profit.

Cheers

Pipage
I would use minor s/r points rather than a pip amount.
  • #54,906
  • Feb 12, 2010 2:14pm Feb 12, 2010 2:14pm
Those videos are great.

Thank you.

Donnie
  • #54,907
  • Feb 12, 2010 2:18pm Feb 12, 2010 2:18pm
For me: It's a Wait & see but the potential is worth the time spent in observation.

IF it Breaks the Lower TL, How far can it go?

Perhaps to the 23.6 % @ 0.845 or so...
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SP Has an idea & it may be worthwhile for him. Why not YOU?

{@ StoragePro. I am happy to be an arrow in your quiver.}

BMc

{@ StoragePro. I am happy to be an arrow in your quiver.}

BMc
  • #54,908
  • Feb 12, 2010 2:44pm Feb 12, 2010 2:44pm
Quoting Bemac
Watched every minute of every one of them & split a rib laughing at the Irony/Sarcasim.

Everyone who does not have a Full Understanding of Who they are Playing against/with should view these. {Biased as they may be.}

Thanks for the chuckles. Got My weekend off to a great start.
FijiTrader :
I would really like you to pull these vidoes into General Joe Trader context & assist me in the effects the Big Boys Intentions have on My Trading Abilities.
BMc
Great videos, I bet its not far from the truth, I used to watch these guys on Rory Bremner show.
  • #54,909
  • Feb 12, 2010 2:45pm Feb 12, 2010 2:45pm
Quoting Bemac
For me: It's a Wait & see but the potential is worth the time spent in observation.

IF it Breaks the Lower TL, How far can it go?

Perhaps to the 23.6 % @ 0.845 or so...
Attachment

SP Has an idea & it may be worthwhile for him. Why not YOU?

{@ StoragePro. I am happy to be an arrow in your quiver.}

BMc

{@ StoragePro. I am happy to be an arrow in your quiver.}

BMc
I am short this one, anything you can do to help push it below that trendline would be appreciated........

I like your target as well.

Nathan
  • #54,910
  • Feb 12, 2010 4:51pm Feb 12, 2010 4:51pm
Quoting Bemac
For me: It's a Wait & see but the potential is worth the time spent in observation.

IF it Breaks the Lower TL, How far can it go?

Perhaps to the 23.6 % @ 0.845 or so...
Attachment

SP Has an idea & it may be worthwhile for him. Why not YOU?

{@ StoragePro. I am happy to be an arrow in your quiver.}

BMc

{@ StoragePro. I am happy to be an arrow in your quiver.}

BMc
Hi Bemac

I'm short from the Daily BEOB so lets see what happens at this trendline. I like that it closed below 8700 and the weekly is showing a BEOB too.

Just a question about your fib lines. Could you explain what points you have drawn them from. It seems you have drawn them from a high point to a low point which would then be used for a retracement back up from the lows so why are you saying the 23% fib could be the target for the move down.

Maybe I'm just confused or maybe you have drawn them for another reason so would just be interested to understand what you are using them for drawn like this.

Thanks

Leon
  • #54,911
  • Feb 12, 2010 5:35pm Feb 12, 2010 5:35pm
just found out about ff and j16 2 months ago and the stuff is unbelievably simple to follow. i am trying to go thru the whole thread and am at page 152 now.
a simple question please
trading the daily pins and being a part time trader, are there particular times of the day in your experience to check the trade to move the stop to be and take some profits.
thank you
mawa
  • #54,912
  • Feb 12, 2010 6:00pm Feb 12, 2010 6:00pm
In order to help me study this thread I wrote a program to pull all the posts and display them the way I want (FF doesn't have the best interface for big threads). Anyway here is the posts per user on this thread. Good to see the guys are still posting, the stuff Jim unleashed here is amazing, just look at any chart and you can see its dirt simple!
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  • #54,913
  • Feb 12, 2010 6:54pm Feb 12, 2010 6:54pm
There's always chances if you missed one... gonna make it free next week

Everybody, nice weekend!
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Back to the beginning ... demo
  • #54,914
  • Feb 12, 2010 7:08pm Feb 12, 2010 7:08pm
Quoting SeekingLight
Also - here we are, telling people to start on daily and weekly, that patience is paramount and that it takes time, yet at the same time there's this "oooh, it's gotta go immediately" vibe still..which feels a bit counter to that.
Not that I mind a setup breaking and running shmazillions of pips instantly, heck no. Like you said, nice if it's there, etc.
Great post Patrick and I've been thinking the same thing. There was a time when if the trade went ten pips against me after entry I would think "KILL IT". It was pure emotional trading. I either have faith in my entry or I don't. And while I won't stare at the screen like a lemming watching it charge towards my stop, I do allow for a setup to take a little time before playing out. Especially given that retraces to the second eye on pinbars and to the 50 level on outside bars are so common.

We do need to protect ourselves and reduce our losses. But that's not the same as blind panic if we incur even a pip of drawdown.

Individual comfort zone applies as always, but it's good to be aware if what you're looking for is the pain free trade. Because that implies you're not comfortable with your risk. And that can be a problem.

  • #54,915
  • Feb 12, 2010 7:21pm Feb 12, 2010 7:21pm
Quoting TiaForex
Great post Patrick and I've been thinking the same thing. There was a time when if the trade went ten pips against me after entry I would think "KILL IT". It was pure emotional trading. I either have faith in my entry or I don't. And while I won't stare at the screen like a lemming watching it charge towards my stop, I do allow for a setup to take a little time before playing out. Especially given that retraces to the second eye on pinbars and to the 50 level on outside bars are so common.

We do need to protect ourselves and reduce our losses....
If it the daily I often give it one day, if H4 I give it a few hours and that's the least, but most of time when I turn off my pc for doing the other thing and when i open it, i see it's a huge reward... so my opinion is, you have to take careless with it but you have to watching it and take action on it, and never ever regret about your decisions , it's all in plan, if not then carefully plan it the other times.
Back to the beginning ... demo
  • #54,916
  • Feb 12, 2010 7:46pm Feb 12, 2010 7:46pm
I think it's also worth putting this in context of Jim's "this is critical" post and mentioning that he is fanatical about taking action at first trouble area. So this isn't carte blanche to hold your trades in hope as they bounce from first trouble area and stop you out. It's more to say that price rarely moves in a straight line to get where you want to. I'd hate to be advocating losses to anyone in the name of patience. The move to breakeven is probably one of the most important parts of trading.
  • #54,917
  • Feb 12, 2010 9:15pm Feb 12, 2010 9:15pm
nice how you do it, does FF allow you to sort like that

Quoting chatzi
In order to help me study this thread I wrote a program to pull all the posts and display them the way I want (FF doesn't have the best interface for big threads). Anyway here is the posts per user on this thread. Good to see the guys are still posting, the stuff Jim unleashed here is amazing, just look at any chart and you can see its dirt simple!
Its all in the mind.
  • #54,918
  • Feb 12, 2010 9:17pm Feb 12, 2010 9:17pm
Quoting chatzi
In order to help me study this thread I wrote a program to pull all the posts and display them the way I want (FF doesn't have the best interface for big threads). Anyway here is the posts per user on this thread. Good to see the guys are still posting, the stuff Jim unleashed here is amazing, just look at any chart and you can see its dirt simple!
Surprised I'm not on there, spam this thread enough How do you do that? Thats pretty neat
  • #54,919
  • Feb 12, 2010 9:40pm Feb 12, 2010 9:40pm
Quoting mike w
Here's a pretty little peach! It'll be interesting to see how next week opens up. Have a great weekend ladies and gents!
Mike,I notice your charts are on FXPro platform.I recently tried to sign up a demo acct and they said they are not accepting any accounts from USA

Would you happen to know anything about that,or maybe this is just a new regulation they started,as I noticed several members here have FXPro charts .

Thank you for any light you may be able to shed on this

Tom
Conquer the beast with disciplined determination and intellegent control.
  • #54,920
  • Feb 12, 2010 9:45pm Feb 12, 2010 9:45pm
a false break of resistance on the aj at 80, den reversing back to support at 79.. then moving up again upon touching support forming a long nose pinbar, future predicted movement = 81 , any comments? the same can be seen on most yen pairs.
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