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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

  • #55,021
  • Feb 15, 2010 3:55am Feb 15, 2010 3:55am
I'm watching the GBP/JPY 'triangle' formation on the 4H chart...will play a break out and retest style trade if an opportunity presents itself.

Not overly relevant to this thread (as fundamental related) but thought I'd share this as although I trade based no technical decisions I still like to know what is happening fundamentally and what is affecting the risk sentiment now and possibly in the future...The EU has major problems in my opinion and what with concerns still over Dubai, I certainly have a strong bearish fundamental view on the EUR...

http://www.telegraph.co.uk/finance/c....html#comments
  • #55,022
  • Feb 15, 2010 4:38am Feb 15, 2010 4:38am
Quoting lovejoy80
I'm watching the GBP/JPY 'triangle' formation on the 4H chart...will play a break out and retest style trade if an opportunity presents itself.

Not overly relevant to this thread (as fundamental related) but thought I'd share this as although I trade based no technical decisions I still like to know what is happening fundamentally and what is affecting the risk sentiment now and possibly in the future...The EU has major problems in my opinion and what with concerns still over Dubai, I certainly have a strong bearish fundamental view on the EUR......
Lets hope we get a pin bar or nice PA to go short, before any big fall happens (if it ever does).
  • #55,023
  • Feb 15, 2010 5:09am Feb 15, 2010 5:09am
Quoting Dhb
Wanna see this legendary documentary?
Wow, I've been looking for that one for ages. It used to change hands for hundreds on ebay after PTJ decided he didn't want it out there and tried to nix every copy. It's a trading legend like the Yeti....

I fully expect that page to be yanked in a day or so, so it's nice to have downloaded my copy.

Thanks!
  • #55,024
  • Feb 15, 2010 6:23am Feb 15, 2010 6:23am
Quoting joelcf
This thread has gone from solid, evidence based reasoning with disciplined entries and management to 'there's a ppz so I'll buy if we get near it' justified as touch trading* to straight out 'lol it mite go up!' guessing.

That's some bearish PA on the quality front. Time for a short?

[size=1]
[i]*which, while i generally dont think is a great idea unless there is a deeper understanding behind it (and I can only think of definitely one, maybe two, people who meets that criterion.. the rest are just justifying sloppy entries), it is still...
What worries me the most is that newbies...to whom this thread is dedicated to will find the first part of the thread to be very different than the latter half.

Somebody earlier was talking abt a spin off or whatever...not to say the touch trading method's garbage but really this is not what we want our novice learners to get into before they can master the core basics...

Wonder what the senior pros are thinking

g.
I believe . . .
  • #55,025
  • Feb 15, 2010 6:33am Feb 15, 2010 6:33am
Quoting ghous
What worries me the most is that newbies...to whom this thread is dedicated to will find the first part of the thread to be very different than the latter half.
Exactly.

And when a thread which is promoted to new traders as 'this is how to stop losing money and start learning to trade' moves away from those basic, high quality 'dirt simple folks' trades.... well, when you are teaching your kid to swim, you dont throw him off a boat in the middle of the Atlantic.

Then again, kids annoy me. So maybe I would
When you have to shoot, shoot. Dont talk.
  • #55,026
  • Feb 15, 2010 6:38am Feb 15, 2010 6:38am
Quoting triger88990
you maybe are right about it, and if is based only if price is approaching a ppz,without any other confluence the only results you can get in a long run is to destroy your account.

I was thinking to post this chart,maybe ghous can assist me,he is the one who play this kind of setups.

Pair: lonnie
setup: IPB off of big round number 1.0500
at 50% fib number from the last swing high/low

Attachment
This was similar to the Au IPB setup we had on the 22nd of Jan.

I for one missed this setup when the market opened today and wanted to get in via a buy limit, but it moved a good 30-35 pips from my "would be" entry point and I pulled the pending order off...

Personally I would have liked to see the purple ppz hit but anyhow depending on your trading personality you could have managed a BE.

How did it go for you Trig?

g.
Attached Image (click to enlarge)
Click to Enlarge Name: usdcad daily.gif Size: 26 KB
I believe . . .
  • #55,027
  • Feb 15, 2010 6:45am Feb 15, 2010 6:45am
Quoting TiaForex
Wow, I've been looking for that one for ages. It used to change hands for hundreds on ebay after PTJ decided he didn't want it out there and tried to nix every copy. It's a trading legend like the Yeti....

I fully expect that page to be yanked in a day or so, so it's nice to have downloaded my copy.

Thanks!
Don't mention it. This is too cool not to share with like-minded people. I know you or anyone else here would have done the same. Besides, I only shared a link, the guy whose site it's on is the truly generous one.

But yeah, given the amount of page views this thread generates, I wouldn't be surprised either if it's not gonna be around for much longer. I don't think it has been downloaded very often until now, but that might soon change. Otoh, it's not hosted on YT or anything, so hopefully, it may take a little longer before it's no longer accessible.
It's not about how much you make, it's about how much you don't lose.
  • #55,028
  • Feb 15, 2010 6:51am Feb 15, 2010 6:51am
Quoting chatzi
I agree I am demoing touch trades, but all my TA is based on daily and higher. And I only trade places with multiple confluence, not just a ppz or a fib and also looking at other markets such as dow. It can be done, look at raczefx, but I wouldn't start out with it. And keep it separate from your main PA account. The touch trades is a kinda morph of J16 and No brainers, with some market correlation thrown in.


Regards

Chatzi.
Mark makes it look simpler than it is...or maybe it is simple when you are thinking from a mind which has done mostly that for 15 flat years, and I can bet these correlation figures has nothing to with his success,

Yes we all want to ride a trend right from the beginning with a 30 pip stop potentially for three figure pips...but think about it...would this be as simple as spotting a "confluence zone" and guessing it would hold? What then makes Mark trade and not guess? think...

g.
I believe . . .
  • #55,029
  • Feb 15, 2010 7:05am Feb 15, 2010 7:05am
Quoting Shermenator
Alright just bought the gbpusd . Not really much of a technical reasoning since I just bought it because it seems like the pair cheap. It also seems like theirs a chance the market can move and the risk I am taking is small compare to the potential of a move I am seeking . I believe we might be accumalting in this pair so lets see if it pops. All I care about is making my risk worth it. Trading is a numbers game .

Attachment
Aha! Is this why the markets keep moving up and down erratically?



- TTP -
  • #55,030
  • Feb 15, 2010 7:15am Feb 15, 2010 7:15am
Quoting ghous
Mark makes it look simpler than it is...or maybe it is simple when you are thinking from a mind which has done mostly that for 15 flat years, and I can bet these correlation figures has nothing to with his success,

Yes we all want to ride a trend right from the beginning with a 30 pip stop potentially for three figure pips...but think about it...would this be as simple as spotting a "confluence zone" and guessing it would hold? What then makes Mark trade and not guess? think...

g.
Hey Ghous

I agree, it will take time to get good at this, however from what I have read, Rac only became successful once he starting using J16 stuff?,

I am a quick learner and have been studying PA and S/r for over a year as well as general trading. I have this great thread as a resource I think it can be achieved in less than 15 years.

I agree don't sugar coat it and say its easy, but as long as you demo first then I wouldn't scare people from learning to trade this way. I hope I haven't offended you, I understand the need to tell newbies this, but I am confident I will be succesfull, and my eyes are open to the possibility of being on demo for a year at least.

I will be also demoing traditional J16 on daily weekly so I don't see the problem here. How I described touch trading is just from the posts I have read, maybe I am missing pieces of the puzzle but I will use demo trades to learn and become profitable in my own way.

It's ironic you have the quote "It's dirt simple".

Regards

Chatzi
  • #55,031
  • Feb 15, 2010 7:23am Feb 15, 2010 7:23am
Quoting chatzi
Hey Ghous

I agree, it will take time to get good at this, however from what I have read, Rac only became successful once he starting using J16 stuff?,

I am a quick learner and have been studying PA and S/r for over a year as well as general trading....
Offended? This is one thing I've been unsuccessful at learning to be.

Just letting you know that the fastest way to make it in this business is by going slow and steady.

J16 alone isn't the only method in the world that works but that does not mean you put up a bunch of demos to test systems that are "known" to work. It is not hard...it is very hard to isolate one experiment with the other...

"I love to operate and cut open humans but I can't do that unless I've gone through a million textbooks and hectic exam schedules to be an authorized professional doctor"...see the point?

It's ok to have a system of your own that branches out of the j16 method just like Mark did, but then it shouldn't go unnoticed that he mastered the core basics first.

g.
I believe . . .
  • #55,032
  • Feb 15, 2010 7:28am Feb 15, 2010 7:28am
Quoting ghous
Offended? This is one thing I've been unsuccessful at learning to be.

Just letting you know that the fastest way to make it in this business is by going slow and steady.

J16 alone isn't the only method in the world that works but that does not mean you put up a bunch of demos to test systems that are "known" to work. It is not hard...it is very hard to isolate one experiment with the other...

"I love to operate and cut open humans but I can't do that unless I've gone through a million textbooks and hectic exam schedules...
Yeah I understand, but I think its possible to learn them in tandem. I don't think it will detrimental, after all it about locating PPZ, levels of confluence on higher timeframes.

Thanks

Chatzi.
  • #55,033
  • Feb 15, 2010 7:29am Feb 15, 2010 7:29am
Quoting chatzi
Hey Ghous

I agree, it will take time to get good at this, however from what I have read, Rac only became successful once he starting using J16 stuff?,

I am a quick learner and have been studying PA and S/r for over a year as well as general trading....
I practiced the basic J16 for 2-3 months before i picked Rac's stuff. I spent hour's looking at each chart posted by Rac. After blowing couple of Demo accounts i am successful for the second consecutive month and you know what i may go through demoing JULY and AUGUST to see if i could cop with those markets.

All i am saying is that do One thing at One time.

And it should better be the basic's, Get to know yourself better first and then make the decision.
.
  • #55,034
  • Feb 15, 2010 7:32am Feb 15, 2010 7:32am
Quoting chatzi
Yeah I understand, but I think its possible to learn them in tandem. I don't think it will detrimental, after all it about locating PPZ, levels of confluence on higher timeframes.

Thanks

Chatzi.
Go for it then...

Maybe you are extraordinarily strong in directing your mind and that you have in some way proved it to yourself,

An interesting hurdle should be the simultaneous thought processes needed in managing the 2 very different systems that will be as far apart as the two poles of the earth in terms of their nature...

Best of luck!

g.
I believe . . .
  • #55,035
  • Feb 15, 2010 7:36am Feb 15, 2010 7:36am
Quoting deepermind
Hello,
I learn a lot from this great thread and thank for all of you

I just started backtest and demo trading of Daily Pinbar strategy at the same time and got one question.
What time has to be regarded as daily bar start?
And if each broker provide different starting bar, is result would different?

I use Oanda platform to do demo trading.
and Backtesting data from MBtrading MT4 chart.

Whatever time your brokers daily bar starts. You play the bars that you
see on your chart. Oanda's pin bar may not be a pinbar on MB.


MB's new day starts at 11:00 central.
  • #55,036
  • Feb 15, 2010 7:39am Feb 15, 2010 7:39am
Quoting nasir.khan
I practiced the basic J16 for 2-3 months before i picked Rac's stuff. I spent hour's looking at each chart posted by Rac. After blowing couple of Demo accounts i am successful for the second consecutive month and you know what i may go through demoing JULY and AUGUST to see if i could cop with those markets.

All i am saying is that do One thing at One time.

And it should better be the basic's, Get to know yourself better first and then make the decision.
.

We all have different learning speeds, (again) I have been learning pa/sr for over a year, so I am well beyond the basics. I also said I plan to demo for a year!!!

Do people actually read posts before replying?
  • #55,037
  • Feb 15, 2010 7:42am Feb 15, 2010 7:42am
Quoting ghous
Go for it then...

Maybe you are extraordinarily strong in directing your mind and that you have in some way proved it to yourself,

An interesting hurdle should be the simultaneous thought processes needed in managing the 2 very different systems that will be as far apart as the two poles of the earth in terms of their nature...

Best of luck!

g.
They are not that different at all, one is a more aggressive style of entry. If they were that different why would the posts even be in this thread!
  • #55,038
  • Feb 15, 2010 7:51am Feb 15, 2010 7:51am
Quoting chatzi
We all have different learning speeds, (again) I have been learning pa/sr for over a year, so I am well beyond the basics. I also said I plan to demo for a year!!!

Do people actually read posts before replying?
I also thought i was a quick learner but was't able to prove it.

Anyway No problem and Good Luck.

P.S: I reply the part i like to, and ignore the rest.
  • #55,039
  • Feb 15, 2010 8:11am Feb 15, 2010 8:11am
I think the time has come to make a final decision about this stuff.

Sorry no offence but many new guy's are coming to the thread and saying things like,

"I am demoing the basic's and this is another Demo account for my touch trades."

I would like J16, Jarroo, Mike etc, to make some final decision on this matter.

And i will be happy for whatever they decide.
.
  • #55,040
  • Feb 15, 2010 8:23am Feb 15, 2010 8:23am
Quoting nasir.khan
I think the time has come to make a final decision about this stuff.

Sorry no offence but many new guy's are coming to the thread and saying things like,

"I am demoing the basic's and this is another Demo account for my touch trades."

I would like J16, Jarroo, Mike etc, to make some final decision on this matter.

And i will be happy for whatever they decide.
.
Decision about what?
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