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james16 Chart Thread
- #56,282
- Feb 25, 2010 5:26pm Feb 25, 2010 5:26pm
- Joined Jul 2006 | Status: Charts + PA > * | 3,251 Posts
I have just stolen a chart
Could it be more simple than that!!
original post here: http://www.forexfactory.com/showpost...postcount=8873
Not all of it is perfect reasoning or great examples, but I think the point I was making that just by shutting off and going from one bar to the the next(and trailing a little bit behind) you can follow the market around..
Most definitely not all ideal trade examples by far, just an exercise in pointing out stuff(example chart).
I would also like to add a word of caution for the ooooolder posts(dunno, say 2006/2007+?).
I've looked at some of the old stuff, and not only do I word things way too cocky(it makes me flinch when I read it now), a lot of the setups are also at times pretty so-so, the charts are terribly clogged and s/r is at times a mixed bag.
Well, or so at least I think when I see some of them now.
Of course there's also the odd chart where I think "Holy smokes, did I really see that x thousand pip move coming that far away"
But mostly it's "Dear lord, WHY did I say that, I sound like an overexcited 17 year old who's seen his first boobie" (.....I'm from a generation back where we weren't exchanging hardcore pornography at age 12 on our cell/smartphones just yet and having more sex at age 13 than a professional adult actor/actress..).
Understandably, this was because I was becoming aware of just how helpful PA could be.
However it was also a bit of the classic "PA, it's everywhere, everywhere I tells ya!"(not all PA is created equal) rush in the early days, so I am asking forgiveness now..I hope to be doing better each day
Trust price. Know yourself.
- #56,284
- Feb 25, 2010 5:31pm Feb 25, 2010 5:31pm
- Joined Jul 2006 | Status: Charts + PA > * | 3,251 Posts
Hi SeekingLight (Patrick), oh, I have seen your post in the very beginning, like first 100 pages or so, I have always enjoyed your charts with great remarks. I have definitely learned a lot from you! And thank you for your kindness.
Thanks a lot. So do I have to wait for the bar to close to enter? Or as soon as the price moves and breaks, I enter right away?
Once this bar has closed, say the bullish pin bar, only then will you be able to say that's actually this and that bar shape to begin with, right?
And now once the very next bar moves past the setup bar's high or low(high in the bullish PB's case), that's the entry, with the stop on the other side(below the bullish PB).
Okay?
Take care,
Patrick
Trust price. Know yourself.
- #56,285
- Edited 5:49pm Feb 25, 2010 5:32pm | Edited 5:49pm
Thanks Tia.
I should be much more careful with what I post I guess.
I am doing James pure stuff for a while, and this is one of the things I feel are important for his style to be successful. Not because of the fact of higher profits, but because HE KNOWS THAT IF HE WILL BE A GOOD BOY, STANDING ON HIS HANDS LONG ENOUGH, BEING PICKY, PATIENT, DISCIPLINE, AND FOLLOWING HIS OWN RULES, HE WOULD GET REWARDED. I feel like this is like a prize your parents give you if you are a good student at school. If you work hard enough, you'll get X3, but if...
I didn't mean to suggest you shouldn't bring it up. Heck we all know that James16 risks a similar amount. I just wanted to add to the conversation. It's good to have discussions about all aspects of trading and risk profiling is one of them. We could talk about Monte Carlo simulations, risk of ruin, expectancy/Van Tharp stuff.... it'd all be valuable here.
And in terms of 'protecting newcomers'... in truth when I was new I didn't want to listen to anyone at all and kept finding new and creative ways to flush my money down the toilet, or worse give my money to other people to trade who happily flushed it down the toilet for me. People will do what they're going to do. Any informed discussion by a serious minded member like yourself is not going to affect that one way or another.
All of which is a long winded way of saying, if someone is going to risk 5% a trade, well they are going to do that whether you talk about it or not. And someone who has sensible ideas about risk management, well they're not going to be swayed by someone else no matter what they say.
We learn this path by walking it. No matter how much we may want to, we never learn by watching someone else walk it.
Go Ben Go...
- #56,286
- Feb 25, 2010 5:32pm Feb 25, 2010 5:32pm
- Joined Feb 2006 | Status: 'Try-hard' extraordinaire... | 2,151 Posts
)FX Solutions has Accucharts too.
Bundy's status today: "Waiting..."
- #56,287
- Edited 6:03pm Feb 25, 2010 5:52pm | Edited 6:03pm
- Joined Feb 2006 | Status: 'Try-hard' extraordinaire... | 2,151 Posts
Man I hate missed ones more than loosers, Is there any way to avoid them? I guess not.
could have been the great conclusion of the magic month.
I waited and waited for this (chart below) and couldn't take it because of the daily Highs it was pointing into. Was hoping for the secondary pull-back later on. This 'missing out' happens all the time, but the pay off for being extra picky is worth it.
We don't want to dwell on the ones that don't work as we need them too. ....The next time you'll just end up changing your rules just to 'not miss out'.
It's hard , I know. lol
(edit: What daily highs??? Must have been delirious. Man this cold I caught is getting to me!!
bummer , should have taking it after all. 
)
Bundy's status today: "Waiting..."
- #56,288
- Feb 25, 2010 5:54pm Feb 25, 2010 5:54pm
- Joined Feb 2009 | Status: Borderline yahoo & oh-no! | 6,607 Posts
Great news! Here it is! for all to enjoy!
will cross-check this with my copy to see any missing pages, if there are any.
No , he means you can set your own custom 'offset' time for bar starts
...
Thanks for clarifying!
- #56,291
- Feb 25, 2010 6:09pm Feb 25, 2010 6:09pm
- Joined Sep 2005 | Status: J16 Senior Member | 13,635 Posts
Indicators show the past. Price Action "Indicates" the future.
- #56,292
- Feb 25, 2010 6:14pm Feb 25, 2010 6:14pm
- Joined Sep 2005 | Status: J16 Senior Member | 13,635 Posts
Indicators show the past. Price Action "Indicates" the future.
- #56,295
- Feb 25, 2010 6:24pm Feb 25, 2010 6:24pm
- | Joined Sep 2009 | Status: Making Money > Being "Right" | 1,811 Posts
I have attached two pictures, one telling why I did not want to take the bullish PB on GBPUSD, and the second picture is exactly what happened that would have given a profitable trade thus far.
I did not take this BEOB. Vacationing, I have been on and off the computer and haven't been able to really catch these good trades
. I miss you guys a lot, but am currently posting from public library public WIFI access... I'm a FIEND!
I did not take this BEOB. Vacationing, I have been on and off the computer and haven't been able to really catch these good trades
. I miss you guys a lot, but am currently posting from public library public WIFI access... I'm a FIEND!
Many choose unhappiness over uncertainty.
- #56,296
- Feb 25, 2010 6:24pm Feb 25, 2010 6:24pm
- Joined Sep 2005 | Status: J16 Senior Member | 13,635 Posts
Indicators show the past. Price Action "Indicates" the future.
- #56,297
- Feb 25, 2010 6:32pm Feb 25, 2010 6:32pm
I have attached two pictures, one telling why I did not want to take the bullish PB on GBPUSD, and the second picture is exactly what happened that would have given a profitable trade thus far.
I did not take this BEOB. Vacationing, I have been on and off the computer and haven't been able to really catch these good trades
- #56,298
- Feb 25, 2010 6:39pm Feb 25, 2010 6:39pm
- | Joined Sep 2009 | Status: Making Money > Being "Right" | 1,811 Posts
One of the best posts so far this year in terms of anticipatng PA
Although this week... I have been just traveling all over the southwest of USA... I don't think I'm going back east, ever.
Many choose unhappiness over uncertainty.
- #56,300
- Feb 25, 2010 6:45pm Feb 25, 2010 6:45pm
- Joined Sep 2005 | Status: J16 Senior Member | 13,635 Posts
Indicators show the past. Price Action "Indicates" the future.