james16 Chart Thread | Page 2762 | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

Where can I learn more about Price Action like those in James16 charts? 9 replies

Attachments: james16 Chart Thread
Exit Attachments

james16 Chart Thread

  • #55,221
  • Feb 17, 2010 4:10am Feb 17, 2010 4:10am
Quoting Prof Hunter
???
Entry yellow, SL below PPZ, secured netto BE pos.
Now, follow it.
Number One(Trend), My Way to trade. (Trend)
  • #55,222
  • Feb 17, 2010 4:10am Feb 17, 2010 4:10am
Quoting Bemac
OK, so we have a 4Hr GBPJPY with some upside potential...

Assumed:
These are not yet my opinions. Just trying to analyze what I am being offered as advice.
Retrace (Drop) back to ~ 141.41
Enter:
Presumed:
It might climb to ~ 143.xx

Please just keep in mind that...
132.xx's is still in the game.

Chart 1 = GBPJPY Daily
Attachment

Chart 2 = GBPJPY...
Hi Bemac,

Thanks for the analysis, I need time to understand you charts, maybe I need to have a look at your thread.

Regards

Chatzi
  • #55,223
  • Feb 17, 2010 4:11am Feb 17, 2010 4:11am
Quoting Prof Hunter
Entry yellow, SL below PPZ, secured netto BE pos.
Now, follow it.
Number One(Trend), My Way to trade. (Trend)
Ahhh, The Chart!
Attached Image (click to enlarge)
Click to Enlarge Name: jarrroo q caj 2.gif Size: 13 KB
  • #55,224
  • Feb 17, 2010 4:19am Feb 17, 2010 4:19am
Quoting Prof Hunter
Ahhh, The Chart!
CAD/JPY is one of my favourite pairs as the technical analysis on it is very clear. In the last year you can easily spot H&S, triple top, double bottoms and the stregnth of the 8600 and 8900 levels. I missed out on the retest of the 8600 earlier on today as my broker only went as low as 8620, I wasn't interested in going long unless price went as low as 8610. Especially as IG quote a 9 pip spread! (daily)

  • #55,225
  • Feb 17, 2010 5:05am Feb 17, 2010 5:05am
Quoting SeekingLight
Sorry for interrupting with this by now "old" debate, but I'll probably not sleep if I don't work this off for myself
Just carry on afterwards =)

--




I wanted to add my opinion on this as well, since I'm right there with James.

Leading in with some random quotes:
Etc.

And now to the core issue at hand:
The fuss is that it isn't what the thread is about.
Accordingly, it isn't addressed in depth or actively supported.
If it were, we'd suddenly have 100% more bloat just by parallel-teaching and explaining everything hewn...
I agree with everything you say Seeking. I think people are confused as to what is ok to post and what is not. A good example is Raczekfx aggresive S/R trades. It is based on solid J16 stuff like PPZ, confluence and higher timeframes, and the posts go back many years. Are we saying we cannot post charts with these kinda trades? i.e just post pure PA setups.

Just looking for clarity, but I agree this thread should be road sign fro new traders.

Chatzi
  • #55,226
  • Feb 17, 2010 5:08am Feb 17, 2010 5:08am
Quoting Prof Hunter
Entry yellow, SL below PPZ, secured netto BE pos...
Greetings!
unless u had other reasons for taking the trade....
your entry was based on a very small pinnish pinbar?

u were patient in holding the trade (for several hours) though. the 86.00 round number held.
  • #55,227
  • Feb 17, 2010 5:27am Feb 17, 2010 5:27am
Quoting chatzi
I agree with everything you say Seeking. I think people are confused as to what is ok to post and what is not. A good example is Raczekfx aggresive S/R trades. It is based on solid J16 stuff like PPZ, confluence and higher timeframes, and the posts go back many years. Are we saying we cannot post charts with these kinda trades? i.e just post pure PA setups.

Just looking for clarity, but I agree this thread should be road sign fro new traders.

Chatzi
I think people need to decide what the purpose of this thread is. If it is to help newbies and beginners into the wonders of PA with confluence on the longer time frames then we should have a seperate thread for more advanced material i.e. lower time frame trading and the more aggresive PPZ trading i.e. a derivative of the J16 basic teachings. Then this thread can be purely dedicated to discussions and setups in relation to setups with PA / confluence on the higher time frames.

Then it is clear for a beginner that they need to master the basics of this thread before moving onto the advanced material i.e. as per the 'instructions' set out on page 1.

Of course this doesn't overcome a beginner seeing the advanced material, getting all excited and ignoring this thread and mastering the basics first.

I still maintain though that if a beginner / newbie does not understand the importance of patience, discipline and treat trading as a business and ignores the instructions on page 1 and starts trading the more advanced material then they stand little chance of succeeding in any case. I would expect someone who had these qualities would have the common sense and intelligence to realise that the more recent posts are advanced material and that they should not be even considering trading these setups until they have mastered the basics.
  • #55,228
  • Feb 17, 2010 5:43am Feb 17, 2010 5:43am
Quoting lovejoy80
I think people need to decide what the purpose of this thread is. If it is to help newbies and beginners into the wonders of PA with confluence on the longer time frames then we should have a seperate thread for more advanced material i.e. lower time frame trading and the more aggresive PPZ trading i.e. a derivative of the J16 basic teachings. Then this thread can be purely dedicated to discussions and setups in relation to setups with PA / confluence on the higher time frames.

Then it is clear for a beginner that they need to master the basics...
Lovejoy,

A good post and to the point. As someone who has still to get the basics 'down' I am finding that this great thread is going off on tangents at times and it is very time-consuming to sift through. Why not start a J16 advanced thread for advanced material, or something along those lines?

berti
PA is where its at!!
  • #55,229
  • Feb 17, 2010 5:49am Feb 17, 2010 5:49am
Quoting bertie123
Lovejoy,

A good post and to the point. As someone who has still to get the basics 'down' I am finding that this great thread is going off on tangents at times and it is very time-consuming to sift through. Why not start a J16 advanced thread for advanced material, or something along those lines?

berti
I would also vote for an advanced thread, however only if the seniors agree.
Its a pity there couldn't be a James16 sub forum here at FF, to keep any new threads together.
  • #55,230
  • Feb 17, 2010 5:51am Feb 17, 2010 5:51am
Hi Guys

Just wanted to ask if anyone is seeing some setups developing on the dailies this week or is there a dearth of good PA setups? I don't see much happening at the moment and it's a case of waiting and waiting at the moment. Suppose this is what they call patience and discipline!
PA is where its at!!
  • #55,231
  • Feb 17, 2010 6:01am Feb 17, 2010 6:01am
[quote=lovejoy80;3472060]I think people need to decide what the purpose of this thread is. If it is to help newbies and beginners into the wonders of PA with confluence on the longer time frames then we should have a seperate thread for more advanced material i.e. lower time frame trading and the more aggresive PPZ trading i.e. a derivative of the J16 basic teachings. Then this thread can be purely dedicated to discussions and setups in relation to setups with PA / confluence on the higher time frames.

Can I please just add to this discussion... as a newbie to the basics of J16?
I agree with what has been said by Seeking and the suggestion above. Trying to follow the basics of James teachings becomes like trying to find the needle in the haystack in this thread! I have been there, tried many low time frame methods, paid for a course etc. and I'm through with it. Some things I may still use.. when I get the pure J16 clear and perfected.

To have this (or another) thread dedicated to the pure core basics and hear the thoughts and reasonings from experienced traders regarding these setups or non setups is what we need. Anyone can move on to a more advanced thread when they are ready, or before if they want to run that risk.

James mission to help us is highly commendable and advanced members willingness to help is also greatly appreciated. I would like to see that mission upheld with the same simplicity and integrity that it began with.

Thanks for allowing me to share my thoughts.
Cherry
  • #55,232
  • Feb 17, 2010 6:10am Feb 17, 2010 6:10am
Quoting bertie123
Hi Guys

Just wanted to ask if anyone is seeing some setups developing on the dailies this week or is there a dearth of good PA setups? I don't see much happening at the moment and it's a case of waiting and waiting at the moment. Suppose this is what they call patience and discipline!
Bertie! Hey man. Totally agree here. I'm only live trading d/w charts and haven't had a trade this month yet. I've heard from several people that the charts just aren't providing us good opportunities on the longer tf right now.

But they will in time. This is the time to develop the patience requirement... fighting that urge to trade, fighting those feelings that we must trade to be profitable and to succeed. There are many great quotes but one that I always think of, from Mike, "It's what we do between the great setups that makes the difference.".

If we fill that time taking crappy trades, then the good trades only get our account out of drawdown. If we relax and let the good trades come to us and avoid taking those setups that don't meet our rules, then the good trades can build our account. That's how I look at it anyway. I'd rather take 1-2 strong trades a month and have them win, then take 10 trades and be in drawdown at the end of the month. I know you would too as I know you have great discipline in your trade selection.

I must realize that winning is more important than trading. Sometimes I must wait to win by waiting to trade. I'm realizing that I can't force profitability. It takes time to develop. Additionally, I'm realizing that success is much more than profitability. Taking all the necessary steps and avoiding the potholes is also what makes me a success. Then it simply takes experience to reach profitability.

(I know this is much more than you asked for in your post, but it really helps me to write this stuff out, and maybe it will help others too...)

Josh
  • #55,233
  • Feb 17, 2010 6:14am Feb 17, 2010 6:14am
A few folks pm'ed me for a copy of the drawdown spreadsheet I mentioned.
Attached File(s)
File Type: xls Drawdown.xls   20 KB | 531 downloads
  • #55,234
  • Feb 17, 2010 6:16am Feb 17, 2010 6:16am
Quoting lovejoy80
I think people need to decide what the purpose of this thread is. If it is to help newbies and beginners into the wonders of PA with confluence on the longer time frames then we should have a seperate thread for more advanced material i.e. lower time frame trading and the more aggresive PPZ trading i.e. a derivative of the J16 basic teachings. Then this thread can be purely dedicated to discussions and setups in relation to setups with PA / confluence on the higher time frames.

Then it is clear for a beginner that they need to master the basics...
Hmmm you mean like Jankone M5 thread??
  • #55,235
  • Feb 17, 2010 6:16am Feb 17, 2010 6:16am
Quoting Jduester
Bertie!...
Good post reminds me of this.

http://www.forexfactory.com/showpost...ostcount=41769
  • #55,236
  • Feb 17, 2010 7:06am Feb 17, 2010 7:06am
Quoting lovejoy80
'smart management' is definitely key for this trade...the first trouble area you marked is very close so for a beginner taking this they would have to decide (before entering the trade) how they would react at this area...i.e. either get to break even, move the stop down from the top of the entry bar somewhat or leave it with the knowledge you might suffer a whole bar loss.
Not a full bar loss....never a full bar loss if your trade has ventured into the green and has met the first trouble area.

My stop was reduced to a half bar one after we broke the pin, tested the first trouble area and pulled back.

Was Benji a fool to have moved his stop to BE and miss the big pips. HELL NO!

It's all about understanding and analyzing the risk you are willing/unwilling to take, implementing a dry emotionless trade plan and executing it perfectly regardless of how "neat" or "messed up" the outcome might look.

(gold dashes represent the stop placements)

g.
Attached Image (click to enlarge)
Click to Enlarge Name: usdsek.gif Size: 26 KB
I believe . . .
  • #55,237
  • Feb 17, 2010 7:13am Feb 17, 2010 7:13am
The GBP/CHF pair provides strong signals for a possible bullish trend. The pair is supported at 1.683 level at the moment. If the level is breached, the downward move is likely to extend. Otherwise we might see 1.706
  • #55,238
  • Feb 17, 2010 7:17am Feb 17, 2010 7:17am
Quoting Jduester
Bertie! Hey man. Totally agree here. I'm only live trading d/w charts and haven't had a trade this month yet. I've heard from several people that the charts just aren't providing us good opportunities on the longer tf right now.

But they will in time. This is the time to develop the patience requirement... fighting that urge to trade, fighting those feelings that we must trade to be profitable and to succeed. There are many great quotes but one that I always think of, from Mike, "It's what we do between the great setups that makes the difference."....
Hey Josh

Excellent post and a damn good read - your reply is the type of thing that strengthens resolve! Like you say, better to have 2-3 good trades a month than 10 average/poor trades. Sometimes its hard when you look at this thread and see guys taking trades all over the place and you feel like you are missing out! However I am slowly learning that better to take fewer but better trades,

good trading to all,

berti
PA is where its at!!
  • #55,239
  • Feb 17, 2010 7:25am Feb 17, 2010 7:25am
Quoting chatzi
I would also vote for an advanced thread, however only if the seniors agree.
Its a pity there couldn't be a James16 sub forum here at FF, to keep any new threads together.
Yes, it is definitely up to the seniors etc. to decide this, but I think a decision needs to be made otherwise it will keep coming up. Perhaps a vote would be a good way so the seniors can assess what everyones views are? Just a thought mind.

Personally, I'm not fussed that there is a mix of techniques in this thread as I can quite easily pick and choose which ones I want to follow / read etc and can differentiate between different styles and what is advanced and what isn't...but it might be helpful to have a seperate thread (I agree in that if this was the way to go a sub-thread would be ideal) and it would help to keep each thread focussed on it's aims.
  • #55,240
  • Feb 17, 2010 7:28am Feb 17, 2010 7:28am
Quoting nasir.khan
Hmmm you mean like Jankone M5 thread??
I suppose...as this is a derivate of J16 applied to the 5min / 15min timeframe. I'm just throwing ideas out there...as I've said, personally I don't mind the thread as it is and can sift throught the posts / trading styles I want to read and which ones I dont, but if the aim is to help beginners understand the core of the J16 teachings then maybe it is something that needs to be considered?
40 traders viewing now, 1 is registered:
Zojahamad