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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

  • #55,781
  • Feb 23, 2010 5:39am Feb 23, 2010 5:39am
Quoting nasir.khan
I don't know if it's a No Brainer but i it's a Brain Crusher for me.

You did not even waited for the break but If i would have played it i would enter at 605 after it had crossed through the Bar high's.
.

Anyways just my views.
.

If I told you that I had another entry at .3680 in my aggressively account test,but I promised I won't talk about those kind of entry anymore in this thread because the purpose of this thread is PA.

No lets focus on this setup,when I saw the break I immediately fly with my thoughts at jaroo statemets.

"A high probability setup is a high momentum setup." Now what made this setup so "wanted",look at the break she never look back.

jaroo statements can save you for a lot of trouble,just make sure you are aware of it

all the best!!

jaroo where are you?

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  • #55,782
  • Feb 23, 2010 5:49am Feb 23, 2010 5:49am
Quoting benji533
I spiked as well Nasir. Not to my liking.
But even B trades...managed with the James16's principals would avoid you from losing money almost every time.

You should be safe by now trig. If that bars closes below support, it's likely to act as resistance and you would be rewarded.

Anyway, also a full take profit on that level would worth a good bunch of money on a big enough account

All of you guys have perfect reasons about this tread, but again when you have a lot of screen time(when I say a lot I'm referring in average 10 hour/day) and you have developed some skills along this journey you can grab some profits even from a crappy setup, as long as you know what are you doing.

I'm telling you guys that it's all about you,if you will make it or not.....

I know you benji are special trader I don't doubt about your skills, I was referring to those guys who are struggling themself with this stuff,to keep faith because at the end they will have a huge smile

all the best!!
  • #55,783
  • Feb 23, 2010 5:53am Feb 23, 2010 5:53am
Quoting triger88990
If I told you that I had another entry at .3680 in my aggressively account test,but I promised I won't talk about those kind of entry anymore in this thread because the purpose of this thread is PA.

No lets focus on this setup,when I saw the break I immediately fly with my thoughts at jaroo statemets.

"A high probability setup is a high momentum setup." Now what made this setup so "wanted",look at the break she never look back.

jaroo statements can save you for a lot of trouble,just make sure you are aware of...
Sorry Trig i did't get you.

Break of WHAT (level)???
.
  • #55,784
  • Feb 23, 2010 5:54am Feb 23, 2010 5:54am
Quoting triger88990
If I told you that I had another entry at .3680 in my aggressively account test,but I promised I won't talk about those kind of entry anymore in this thread because the purpose of this thread is PA.
!!

jaroo where are you?

Attachment
I had .3676

On demo though as have fingers in other pies
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Learning to be rigid in my rules & flexible in my expectations
  • #55,785
  • Feb 23, 2010 5:55am Feb 23, 2010 5:55am
Hi guys,

I wanted to ask about backtesting, I started last night using f12, however I dont think this is giving me the full picture. i.e. how price moved within the bar. I tried going down TF but MT4 is useless for this, it moves dates about. Any suggestions?
  • #55,786
  • Feb 23, 2010 5:58am Feb 23, 2010 5:58am
Quoting triger88990
All of you guys have perfect reasons about this tread, but again when you have a lot of screen time(when I say a lot I'm referring in average 10 hour/day) and you have developed some skills along this journey you can grab some profits even from a crappy setup, as long as you know what are you doing.

I'm telling you guys that it's all about you,if you will make it or not.....

I know you benji are special trader I don't doubt about your skills, I was referring to those guys who are struggling themself with this stuff,to keep faith because...
Hey buddy,

I didn't try to comment on your trade decision. I leave it for you. I trust you for knowing what you are doing.

Just though I would use this example for showing how again as always James16's principals are working in terms of trade management and thought process. Not for you

Keep it up bud
Ben
  • #55,787
  • Feb 23, 2010 5:59am Feb 23, 2010 5:59am
Quoting nasir.khan
Sorry Trig i did't get you.

Break of WHAT (level)???
.
aren't we talking about the same setup?

the PB from fiber 4h chart

so we are talking about the break of the PB,that was our setup.
  • #55,788
  • Feb 23, 2010 6:02am Feb 23, 2010 6:02am
Quoting benji533
Hey buddy,

I didn't try to comment on your trade decision. I leave it for you. I trust you for knowing what you are doing.

Just though I would use this example for showing how again as always James16's principals are working in terms of trade management and thought process. Not for you

Keep it up bud
Ben
I know Ben

just that I had some few thoughts and aligned them on your replay.

all the best to you!
  • #55,789
  • Feb 23, 2010 6:05am Feb 23, 2010 6:05am
Quoting Treefingers
I had .3676

On demo though as have fingers in other pies
good for you

on the eurgbp .8835 seems it works twice this time

0 drawdown on this

all the best!!
  • #55,790
  • Feb 23, 2010 6:10am Feb 23, 2010 6:10am
Hi All,

AUD / USD seems to be currently straddling around the 90.000 PPZ. Price yesterday broke through an ascending triangle (on the hourly) and printed a strong bullish bar just prior to the European session opened. It has now drifted lower to 89.80 which is the lowest point of the ascending triangle. My preference would be to try a touch long entry here as I potentially see this as a re-test of the original break out. The analysis is purely based on S/R and PA.

Sorry cant post chart as I am at work but will provide one later in the evening.

Comments if you can see what I am talking about please.

  • #55,791
  • Feb 23, 2010 6:15am Feb 23, 2010 6:15am
Quoting chatzi
Hi guys,

I wanted to ask about backtesting, I started last night using f12, however I dont think this is giving me the full picture. i.e. how price moved within the bar. I tried going down TF but MT4 is useless for this, it moves dates about. Any suggestions?

The best advice I could give you is to look in real time to see how price move within the bar, but I must aware you that this takes a lot of screen time befor you will have some A-HA moments. For me it have a certain role in my trading plan how a bar have took in place

All those information will help you in any decision you will make about any trade.

hope that helps!
  • #55,792
  • Feb 23, 2010 6:34am Feb 23, 2010 6:34am
Quoting raczekfx
look at the daily tf
it's really a zone that extends to 1.0550..
Thank you!
One Chart is Worth Ten Thousand Words.
  • #55,793
  • Feb 23, 2010 6:36am Feb 23, 2010 6:36am
Quoting triger88990
aren't we talking about the same setup?

the PB from fiber 4h chart

so we are talking about the break of the PB,that was our setup.
Yes exactly,

Hey Trig i know that you are a good trader, and of course you know what you are doing.

My whole point is that when you say;

Quote
Now what made this setup so "wanted",look at the break she never look back.

But you entered the trade before the BREAK.

so i got a little bit confused here. So anyways no problem.

Keep up the good work.
.
  • #55,794
  • Feb 23, 2010 6:55am Feb 23, 2010 6:55am
Quoting chatzi
Hi guys,

I wanted to ask about backtesting, I started last night using f12, however I dont think this is giving me the full picture. i.e. how price moved within the bar. I tried going down TF but MT4 is useless for this, it moves dates about. Any suggestions?
Chatzi,
You might want to check this out.
I think it may be what you are looking for.
You can set it to whatever speed you want so, for instance, put it up to 31 and it will run a 4hr bar in about 2 minutes.

Steve.
"The more I practice, the luckier I get." (Gary Player)
  • #55,795
  • Feb 23, 2010 6:55am Feb 23, 2010 6:55am
Quoting nasir.khan
Yes exactly,

Hey Trig i know that you are a good trader, and of course you know what you are doing.

My whole point is that when you say;



But you entered the trade before the BREAK.

so i got a little bit confused here. So anyways no problem.

Keep up the good work.
.
No worry my friend I get your point

My entry would be from the left eye, look how the PB have developed in relation with the previous bar, in this kind of situation always (in a perfect world) she retrace till the left eye befor she breaks. I was planning to enter on the left eye but was busy with something else and pulled the trigger lately, I know it sounds like I'm chasing a trade, but I could easily wait for the break of the PB, as a second way to enter a trade.........if a missed the first.

Anyway I have a problem regarding this, I saw that there are some guys that say you should wiat for the break of the PA and only after that you can entry on a retrace of that PA, and others who says that they pre-enter a trade befor that PA breaks

Now which is the correct way of doing it, hope that the senior guys can elucidate me this issue.

all the best!!
  • #55,796
  • Feb 23, 2010 7:20am Feb 23, 2010 7:20am
Quoting triger88990
No worry my friend I get your point

My entry would be from the left eye, look how the PB have developed in relation with the previous bar, in this kind of situation always (in a perfect world) she retrace till the left eye befor she breaks. I was planning to enter on the left eye but was busy with something else and pulled the trigger lately, I know it sounds like I'm chasing a trade, but I could easily wait for the break of the PB, as a second way to enter a trade.........if a missed the first.

Anyway I have a problem regarding this,...

This all depends on the type of trader YOU are. The way that Jim has taught this is to wait for confirmation or a "break". This is the way I prefer to trade. I do not ever anticipate a break. My account suffered as a result of that philosophy on many an occasion. I will wait for a break and then a retrace on most occasions before I get in a trade. I miss out on some that way, but I am comfortable with that.

K.I.S.S.
  • #55,797
  • Feb 23, 2010 7:21am Feb 23, 2010 7:21am
TL Break and a Retrace.

Lets See.
.
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  • #55,798
  • Feb 23, 2010 7:26am Feb 23, 2010 7:26am
what went worng?
am i the only one who gonna take a full bar loss on this one?
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Wellcome to the good life!
  • #55,799
  • Feb 23, 2010 7:27am Feb 23, 2010 7:27am
Quoting KissFan
This all depends on the type of trader YOU are. The way that Jim has taught this is to wait for confirmation or a "break". This is the way I prefer to trade. I do not ever anticipate a break. My account suffered as a result of that philosophy on many an occasion. I will wait for a break and then a retrace on most occasions before I get in a trade. I miss out on some that way, but I am comfortable with that.

K.I.S.S.
Perfect reply from a KISS fan.
  • #55,800
  • Feb 23, 2010 7:30am Feb 23, 2010 7:30am
Quoting mrsingha
Chatzi,
You might want to check this out.
I think it may be what you are looking for.
You can set it to whatever speed you want so, for instance, put it up to 31 and it will run a 4hr bar in about 2 minutes.

Steve.
Awesome bro, will set it up tonight. I have a lot of backtesting ahead of me, but for me its screen time and screen time is the only way to master this stuff.
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