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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

  • #55,681
  • Feb 22, 2010 10:09am Feb 22, 2010 10:09am
Quoting oromek
hi everybody
i have a question about TBLHC (even 3 bars here) on GU. I've never used such formations before and want to start testing them.
What you think, is it good to open long on break of this formation, in this particular place?


DBLHC or TBLHC or even a QBLHC are best played at swing lows. And the Close of the High should be higher then the previous bars.

I don't think it is a good place to go long in this paticular place. I would need much bigger and bolder PA to go long against the current strong down trend.
Indicators show the past. Price Action "Indicates" the future.
  • #55,682
  • Feb 22, 2010 10:21am Feb 22, 2010 10:21am
Quoting jarroo
DBLHC or TBLHC or even a QBLHC are best played at swing lows. And the Close of the High should be higher then the previous bars.

I don't think it is a good place to go long in this paticular place. I would need much bigger and bolder PA to go long against the current strong down trend.
thanks
that clarifies a lot, i'm at 300th page now, but it wasnt still clear for me. Mainly pin bars, BEOBs and BUOBSs are covered (most often), while DBLHC and DBHLC plays second fiddle in my opinion.

btw. jarroo, nice last post number
  • #55,683
  • Feb 22, 2010 10:29am Feb 22, 2010 10:29am
Quoting oromek
thanks
that clarifies a lot, i'm at 300th page now, but it wasnt still clear for me. Mainly pin bars, BEOBs and BUOBSs are covered (most often), while DBLHC and DBHLC plays second fiddle in my opinion.

btw. jarroo, nice last post number

DBHLC and DBLHC can be just as effective as the other PA formations the key is their location and supporting confluences.


lol
Indicators show the past. Price Action "Indicates" the future.
  • #55,684
  • Feb 22, 2010 10:56am Feb 22, 2010 10:56am
Quoting chatzi
That was excellent thanks Tia. I have a question though about number 4, about small accounts never grow to large accounts, even when treating it like a business.

This has been a point of conflict for me and hearing this make me think that it may be better to demo for a few years whle saving as much as possible rather than the 3 months thing. I suppose its how we define a large account, I know this is subjective for different people and I am assuming that we will be trading while still working a day job (daily/weekly). Are we talking 10k, 50k...


Learn to trade and the money will come, when I started out I lost about 40-50k because all I wanted was more money. Now I just want what the market wants and take the trades as I see them. The few ppl I showed the market and how I traded all said "I cant wait to get a Ferrari, new house, etc" or something of great value, all they wanted was the money. Even with me sitting with them on messanger telling them when to get in and out they still screwed up, it was always the it's coming back, or I thought I could get more out of it that screwed them. Then I would ask them who does this for a living and makes money and they had no answer, ego / emotion. Also learn your own deal as I did. I took the best of what works for ME and tied it all together into a setup that I like and that I can live with. My trading stew is J16 with a touch of Bill Williams and a side on BB / RSI.
Keep taking CT trades, I need more money
  • #55,685
  • Feb 22, 2010 11:15am Feb 22, 2010 11:15am
Quoting Ryanmcd
Learn to trade and the money will come, when I started out I lost about 40-50k because all I wanted was more money. Now I just want what the market wants and take the trades as I see them. The few ppl I showed the market and how I traded all said "I cant wait to get a Ferrari, new house, etc" or something of great value, all they wanted was the money. Even with me sitting with them on messanger telling them when to get in and out they still screwed up, it was always the it's coming back, or I thought I could get more out of it that screwed them....
Ryan! Dude, always good to see you. Hope you're doing well.

And Ryan's right. Never underestimate the capacity of the human brain to mess up a sure thing. Ryan sits there telling em when to get in and when to get out, having made a lot of money himself and doing it for a living.....and they still manage to mess it up.

The big enemy is always between our ears.
  • #55,686
  • Feb 22, 2010 11:22am Feb 22, 2010 11:22am
Quoting TiaForex
Ryan! Dude, always good to see you. Hope you're doing well.

And Ryan's right. Never underestimate the capacity of the human brain to mess up a sure thing. Ryan sits there telling em when to get in and when to get out, having made a lot of money himself and doing it for a living.....and they still manage to mess it up.

The big enemy is always between our ears.

Doing well, just thought I would stop by and try to save a noob some hardach Same crap different day.
Keep taking CT trades, I need more money
  • #55,687
  • Feb 22, 2010 11:35am Feb 22, 2010 11:35am
Quoting Ryanmcd
Learn to trade and the money will come, when I started out I lost about 40-50k because all I wanted was more money. Now I just want what the market wants and take the trades as I see them. The few ppl I showed the market and how I traded all said "I cant wait to get a Ferrari, new house, etc" or something of great value, all they wanted was the money. Even with me sitting with them on messanger telling them when to get in and out they still screwed up, it was always the it's coming back, or I thought I could get more out of it that screwed them....
Thanks for that Ryan I have came across your posts and it's good to hear from another trader who has a succesful trading method based on pa. I plan to be on demo until I gave mastered it and got my own slant down. I know this will take maybe a year or two.

This may seem long but in 5 years I don't want to have lost Money and given up. I want to have a decent account to take it to the next level!

Thanks again

mark
  • #55,688
  • Feb 22, 2010 11:44am Feb 22, 2010 11:44am
Quoting Nustra
greetings everyone,
although this is my first post i have been following this thread for about 2 years and demo trading while saving up for live gig.
sincere thanks to Jim, seeking light, mbqb11 and all those that have tirelessly contributed to this thread.
i have gone live last month and its really working so far, i might have to cut down on overtrading though, but so far so good.

@ Trigger88990;
could u elucidate on the set up u described, i have been trading it - both live and demo - and i even made a few chunk on the EU pair u posted but...
wow talk about really lurking! Glad to see you pop out and say hi Nustra
  • #55,689
  • Feb 22, 2010 11:47am Feb 22, 2010 11:47am
Quoting bertie123
Hi all

As a J16 person who was derailed but now back on track, I would just like to ask if some of you guys have problems spotting the setups in real-time? I find I am seeing a lot of setups after the event(easy, I know) but am just not seeing them develop in real time - has anyone else had this problem how do you overcome this hurdle?

thanks guys

berti
Hey Berti

IMO this is just where you can't replace time and experience. B/C eventually what you study and learn starts to jump out in you real time. It is like anything else, you get better over time and build from your success and learn from your mistakes.

My 2 cents
Mike
  • #55,690
  • Feb 22, 2010 11:48am Feb 22, 2010 11:48am
Quoting TiaForex
Y
But if my observations of the seniors, and my experiences are anything to go by, you'll still sometimes find yourself scratching your head and going "how did I talk myself out of that one?" (just ask Mike about the peso..). It's much better, in my opinion, than scratching your head and saying "why did I take that one?"
hate you LOL
  • #55,691
  • Feb 22, 2010 12:00pm Feb 22, 2010 12:00pm
Quoting Ryanmcd
Doing well, just thought I would stop by and try to save a noob some hardach Same crap different day.
  • #55,692
  • Feb 22, 2010 12:08pm Feb 22, 2010 12:08pm
Quoting benji533
.
Belated thanks for great charts - quick query - do you put more emphasis on PBs which show a lower bearish close in the case of an up trend (and vice versa for down trend)? Thought this might be a stronger indication of a reversal at a swing high/low

Thanks

J
  • #55,693
  • Feb 22, 2010 12:41pm Feb 22, 2010 12:41pm
Quoting mbqb11
Hey Berti

IMO this is just where you can't replace time and experience. B/C eventually what you study and learn starts to jump out in you real time. It is like anything else, you get better over time and build from your success and learn from your mistakes.

My 2 cents
Mike

I think ppl miss this point. 3 pm's so far today about "I can't make money with your system" hell I did not even know I had a system it's just the way I trade.
Keep taking CT trades, I need more money
  • #55,694
  • Feb 22, 2010 12:59pm Feb 22, 2010 12:59pm
Quoting Ryanmcd
I think ppl miss this point. 3 pm's so far today about "I can't make money with your system" hell I did not even know I had a system it's just the way I trade.
Most of them would be those who didn't spent enough time on dailies and without substancial success they moved down to 5M. Simply saying "If you cannot judge between A++, A+ ..........D setup in a whole day or even in 2-3 hrs, how could you do it in just 5 minutes"Happened to me also.
  • #55,695
  • Feb 22, 2010 1:03pm Feb 22, 2010 1:03pm
Quoting Ryanmcd
I think ppl miss this point. 3 pm's so far today about "I can't make money with your system" hell I did not even know I had a system it's just the way I trade.
hey Rayn glad to see you are posting,have learn from your past post among others people a lot.

they are in the incipient stage of learning,they must take a step further from those unhealthy question that can make a lot of damage along this journey. I'm sure that few will make it,if you stay enough monitoring this thread you will see many new faces that you'll never have a chance to get use with them because they disappear in the shadow.

is not a get quick rich scheme,is a marathon and some guys get it much more faster than others

all the best!
  • #55,696
  • Feb 22, 2010 1:14pm Feb 22, 2010 1:14pm
No need to follow someone else and learn the in's / out's of it even though 90+% of the ppl who post lose money, that was rule #1. Rule #2 is even if someone CAN trade and make money it may not work well with how you work = timeframe. Think back I tried the 1hr 4hr daily and it was not for me, if I had too I could prob. make a little money but not much I cant sit that long, now give me a 5min 3min chart and It's my true love. Find the ***TIME*** that works for YOU and then a style you like to trade.
Keep taking CT trades, I need more money
  • #55,697
  • Feb 22, 2010 1:25pm Feb 22, 2010 1:25pm
Thanks bud, I really appreciate this!

I managed to use the j16 EA on my NZDUSD trade (very tight stop since its not exactly an A++ trade)

Daily pin however, broke past 0.7 whole number & EMA150. I am concerned about the LH in the weekly, however ..... perhaps the beginning of a general downtrend.

I would have posted the chart, but so far only managed to copy it in paint
Don't worry I am determined to figure it out (afraid I'm becoming a bit of a neanderthal when it comes to all this new technology stuff)


Stef

[quote=mbqb11;3485736]
Quoting Cherry

I have never used this but I believe a lot of people use it to move to b/e while they sleep or are at work

http://www.forexfactory.com/attachme...2009%2011:31pm
  • #55,698
  • Feb 22, 2010 1:37pm Feb 22, 2010 1:37pm
Quoting jspeakman
Belated thanks for great charts - quick query - do you put more emphasis on PBs which show a lower bearish close in the case of an up trend (and vice versa for down trend)? Thought this might be a stronger indication of a reversal at a swing high/low

Thanks

J
Generally yes, but not that critical.
For pin bars, I want the them to have a long nose relativity to recent bars (a big bar shows more strength to me), and the close of the bar must be withing the prior bar.
Not yet talking about location and traffic.

I watch 3 different feeds, only weekly, daily and sometimes 4H charts. So if I get a bearish close on one feed, and a bullish one on the other, I would take the first feed as you said. So not that critical, but I would say the answer is yes. It's another strength barometer.


Ben
  • #55,699
  • Feb 22, 2010 1:47pm Feb 22, 2010 1:47pm
I'm going to post this as a reminder of how simple chart time/studying can give you a solid HINT of what is going to happen in the future....

Here is the original post as evidence:
http://www.forexfactory.com/showpost...ostcount=50262

Here is the short convo that followed:

Quoting Dan Gilbert
another potential...
Quoting Bemac
Wow Dan, I have to wait to take my best shot at the Next Move... You have already figured out the Next Four...

Save this image & revisit it later.
I'm not suggesting you are wrong but the odds of being correct on all 4 moves must be out there.

Honestly submitted as a constructive opinion.
Quoting Dan Gilbert
hahaha.... I'm not saying I know what I'm talking about... Just if price does something roughly like this, would you be surprised? I don't think I would be.... I feel like I've seen so many traders in this thread, and this thread only, make good calls and are just consistently correct. PPZs are a beautiful thing.


And my attachment below is my follow up.
Attached Image (click to enlarge)
Click to Enlarge Name: crystalball.gif Size: 38 KB
Many choose unhappiness over uncertainty.
  • #55,700
  • Feb 22, 2010 1:51pm Feb 22, 2010 1:51pm
Quoting benji533
Generally yes, but not that critical.
For pin bars, I want the them to have a long nose relativity to recent bars (a big bar shows more strength to me), and the close of the bar must be withing the prior bar.
Not yet talking about location and traffic.

I watch 3 different feeds, only weekly, daily and sometimes 4H charts. So if I get a bearish close on one feed, and a bullish one on the other, I would take the first feed as you said. So not that critical, but I would say the answer is yes. It's another strength barometer.


Ben
Thanks Ben - v helpful and your charts earlier were just magic!

J
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