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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

  • #56,721
  • Mar 1, 2010 6:21pm Mar 1, 2010 6:21pm
Just wondering if someone can please advise me regarding the J16 EA. When entering the pips in the inputs and your platform has the extra digit (5) do you enter 200.0 for 20 pips? Or does the EA have the extra digit programmed in?

Thanks!
Cherry
  • #56,722
  • Mar 1, 2010 6:58pm Mar 1, 2010 6:58pm
Quoting shauns1966
Thanks Jim that's really reassuring....
awesome post man, and of course I loved the poker reference!

Mike
  • #56,723
  • Mar 1, 2010 6:59pm Mar 1, 2010 6:59pm
Quoting oromek
watching from hindsight, it would be better to trade 2D PB and leave more room for a trade.

I would like to ask about my last losing trade, that was AUDJPY with BEOB at BRN=80, additionally counfluenced with 38 fibo line. I had a sell stop order waiting 10 pips under BEOB, price hit it, went down 4 more pips and reversed.
What things in your opinion should stop me before taking this setup?
regards
In my opinion, it's looked good, the only problem is the Zone is not clear, S & R are mixing... and we don't have high swing or overbought to reverse

or i'm just luck b/c i didn't take it
Back to the beginning ... demo
  • #56,724
  • Mar 1, 2010 8:27pm Mar 1, 2010 8:27pm
Quoting pipfirst
Hi Ryanmcd,

Thanks for sample of the trade you take on M5. I have several question based on the chart you post :
1. do you take the yellow line as your trend direction ? if the price above the line you open buy position and vice versa for the sell.
2. while trade the M5. Do you see higher time frame to ensure the trend ?
since mostly I get confuse if I see M5 and H1 in the same time.

sorry if this is a repeating question.


Thanks,

Yep, yellow line = trend, I don't CT it unless I have a damn good reason so today it was all shorts and 1 long at the end, I could of took one more long but I was at the gym. Also I have a deal on the side of my chart but the long term trend does not keep me for jumping in, all it does it let me know that we have a correction in the long term and I will not be able to ride it out.

Here is a chart.
Attached Image (click to enlarge)
Click to Enlarge Name: mystuffs.jpg Size: 131 KB
Keep taking CT trades, I need more money
  • #56,725
  • Mar 1, 2010 8:57pm Mar 1, 2010 8:57pm
Quoting Ryanmcd
Yep, yellow line = trend, I don't CT it unless I have a damn good reason so today it was all shorts and 1 long at the end....
wow, now looking more Bill Williams-esque (with the AO indicator).
& with a touch of THV (stratman's multi-timeframe indicator on the right side)

Thanks for the chart!
  • #56,726
  • Mar 1, 2010 8:58pm Mar 1, 2010 8:58pm
Quoting trendist
Hello,

I am considering subscription to the PF. I am trying hard to find any reasonable info about what can I expect to find inside. Bad luck. I have not found any real information about the content.

Can anyone help me before I spend my bucks? I would like to see something like .. there is 5 trading systems described in about 20 PDF files, 10 videos and a forum ...

Thank you in advance!
trendist - there are 20+ videos to watch - there are 20+ links to threads, like this one, except only in the PF, there are 20+ journals of newbies, like myself - learning to trade, as well as probably 20+ journals of 'experienced traders', and a physcology section, that was for me - a confirmation on my mental ability. and probably 20 other things I haven't gotten to yet.

trading systems - - I'd bet you probably find 5 different ones, but that is of zero importance, if you don't understand the basics - - -at least that's my opinion.

I've been a PF member for 3 paid months more like 2.2 months and have .8 months to go on this renewal.

am i satisfied - 100% - am I profitable - 0% - I am attracted to honest - trustworthy ideals - and that's what you get via the PF or the thread. It is your job (my job) to figure this shtuff (combo of shit and stuff) out. I rank me in the 20 percentile after 2.2 months - just because I need to focus on the basics and I've been to busy with the . . . like you mentioned 5 systems. . . or any system for that matter . . . it's not. it's price action baby.

Recommended by the folks here - spend 2 months reading the thread - see if your even interested- read post 1 20 times - I just read it twice today, cause I need it.

I personally recommend 40 hrs -- -however translated - - a 40hr work week - 40 hours over the two months -- - 40 hours in a couple of days - check out the thread here for 40 hours of consistent focus before making any decisions.
  • #56,727
  • Mar 1, 2010 8:59pm Mar 1, 2010 8:59pm
Quoting shauns1966
I joined a couple of weeks ago. Best money I havbe spent, some excellent stuff in there. Have you taken the free guest tour? There's lots of good freeby's in there. James says he wants the free guest area to be better than most pay sites and I think he has suceeded!
How do you get to that area?
  • #56,728
  • Edited 9:20pm Mar 1, 2010 9:17pm | Edited 9:20pm
Quoting oromek
I would like to ask about my last losing trade, that was AUDJPY with BEOB at BRN=80, additionally counfluenced with 38 fibo line. I had a sell stop order waiting 10 pips under BEOB, price hit it, went down 4 more pips and reversed.
What things in your opinion should stop me before taking this setup?
regards
Hi Oromek,

Understand that Jaroo and Goldtrader have given their comments on the failed BEOB. Here I notice a few other probable setups that present itself. Some work out and some didn't.

PA1 - BEOB, off 61% FIB, shortlived and price went back up, swing high could be more prominent though
PA2 - BEOB, off 61% FIB, could gain us some pips if manage properly, TP at the 50% green FIB level perhaps.
PA3 - Strong DBHLC not at prominent swing high though, cut through 38.2 green FIB level, again would gave gained good pips if ride down with it.
PA4 - this is the one which failed for you, comments made by Jaroo and Goldtrader regarding lack of space but we see 2 strong confluence in the green and blue FIB at 38.2 %. Well, it's about probability isn't it? Nothing is guaranteed (except death and taxes :0).
So here we have 4 probable trades with 2 going our intended way for a 50% ratio. Not too good huh? I am begining to ask myself is there really an edge here looking at PA, I am confused now
cy
Attached Image (click to enlarge)
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  • #56,729
  • Mar 1, 2010 9:22pm Mar 1, 2010 9:22pm
Hello again,

I thought I had overcome the problem of picture dissappearing from the J16 videos by up dating Windows Player...

Now today it won't play more than 30 seconds and vanishes again. Have just tried 3 of the vids I have downloaded and same thing with all.

I tried VLC once more but as before with it... no sound!

Help!!! Whatever is wrong? Running on Win XP 2002.

Any further ideas what I could try guys?

Thanks,

Cherry
  • #56,730
  • Mar 1, 2010 9:27pm Mar 1, 2010 9:27pm
Quoting Ryanmcd
Yep, yellow line = trend, I don't CT it unless I have a damn good reason so today it was all shorts and 1 long at the end, I could of took one more long but I was at the gym. Also I have a deal on the side of my chart but the long term trend does not keep me for jumping in, all it does it let me know that we have a correction in the long term and I will not be able to ride it out.

Here is a chart.
How long have you been trading FX this way?
lowest draw down possible please.
  • #56,731
  • Mar 1, 2010 9:29pm Mar 1, 2010 9:29pm
Quoting ehrek
How long have you been trading FX this way?
3 days I think I have been doing the forex about 4 years now, and s&p 3-mini about 5 years before that.
Keep taking CT trades, I need more money
  • #56,732
  • Mar 1, 2010 9:45pm Mar 1, 2010 9:45pm
Quoting Ryanmcd
3 days I think I have been doing the forex about 4 years now, and s&p 3-mini about 5 years before that.
cowabunga!
lowest draw down possible please.
  • #56,733
  • Mar 1, 2010 10:21pm Mar 1, 2010 10:21pm
Quoting Cherry
Hello again,

I thought I had overcome the problem of picture dissappearing from the J16 videos by up dating Windows Player...

Now today it won't play more than 30 seconds and vanishes again. Have just tried 3 of the vids I have downloaded and same thing with all.

I tried VLC once more but as before with it... no sound!

Help!!! Whatever is wrong? Running on Win XP 2002.

Any further ideas what I could try guys?

Thanks,

Cherry
Hey Cherry

I have no clue I hope others might. Try this though

http://www.gomlab.com/eng/GMP_Introduction.html

and also try

http://ac3filter.net/

After that I think I am out of ideas

Mike
  • #56,734
  • Mar 1, 2010 10:50pm Mar 1, 2010 10:50pm
if what mike gave you does not work, uninstall windows media player, reboot and reinstall it. It sounds like you've picked up some bad bits someplace. Viddler is another player you can try too.


Quoting Cherry
Hello again,

I thought I had overcome the problem of picture dissappearing from the J16 videos by up dating Windows Player...

Now today it won't play more than 30 seconds and vanishes again. Have just tried 3 of the vids I have downloaded and same thing with all.

I tried VLC once more but as before with it... no sound!

Help!!! Whatever is wrong? Running on Win XP 2002.

Any further ideas what I could try guys?

Thanks,

Cherry
I'm pretty much done with all this ...
  • #56,735
  • Mar 1, 2010 11:46pm Mar 1, 2010 11:46pm
Quoting Cherry
Hello again,

I thought I had overcome the problem of picture dissappearing from the J16 videos by up dating Windows Player...

Now today it won't play more than 30 seconds and vanishes again. Have just tried 3 of the vids I have downloaded and same thing with all.

I tried VLC once more but as before with it... no sound!

Help!!! Whatever is wrong? Running on Win XP 2002.

Any further ideas what I could try guys?

Thanks,

Cherry
Finally something I can contribute to. Try k-lite codec pack (http://www.codecguide.com/download_kl.htm). I generally use the "standard" pack. Plays most other video/vcd/dvd formats too.
  • #56,736
  • Mar 1, 2010 11:46pm Mar 1, 2010 11:46pm
Quoting scott087
Here is something I've been watching. Eur/Aud 4 hour. I'd like to get in on the huge downtrend and this little pattern formed and it broke lower. If this makes a clean pullback to the 1.52 area and retests the pattern with some nice PA I would short.

I'd love to see it drop to the bottom 1.51 and then pull back, then we'd have a nice 50% retrace lining up right with the break/ppz 1.52 area.
Well it looks like I got the drop to the ppz at 1.51 I was looking for. The only problem was that it never came back up and retested the pattern break & ppz that I wanted to short from.

Price broke through the lower ppz, retested it, and now broken support is acting as resistance...further validating and defining the ppz. Textbook j16, no surprise why price acted as it did.

Oh well... on to the next one
Attached Image (click to enlarge)
Click to Enlarge Name: 2010-03-02_EURAUD_H4_Update.png Size: 36 KB
  • #56,737
  • Mar 1, 2010 11:55pm Mar 1, 2010 11:55pm
Just wondering if anyone else here has had issues with the videos in the guest section? I am able to view video, but no audio. Now I am on a mac running Vista, so this may be the root, but I have downloaded several video conversion software utilities with no luck.

Thanks,

Jacob
  • #56,738
  • Mar 2, 2010 12:10am Mar 2, 2010 12:10am
Quoting Jcp
Just wondering if anyone else here has had issues with the videos in the guest section? I am able to view video, but no audio. Now I am on a mac running Vista, so this may be the root, but I have downloaded several video conversion software utilities with no luck.

Thanks,

Jacob
Hey Jacob

In the PF we had some Mac users trouble shooting this seemed to work for most so hopefully it does for you


Originally Posted by dannstockton http://www.james16group.us/forums/im...s/viewpost.gif
Here's what I found to work for me (I'm on a mac right now running leopard)


1. Download MPlayer here:

http://code.google.com/p/mplayerosxe...nded_rev11.dmg

2. Install Mplayer essential codec package.

http://www.mplayerhq.hu/design7/dload.html


For whatever reason, I was unable to get anything else to work (VLC, WMP for Mac, etc.), but so far it looks like it works great. I think it should work for Snow Leopard as well.

Also, a workaround is to use parallels and WMP.


Windows Media Player for mac is different than Mplayer.
  • #56,739
  • Mar 2, 2010 12:11am Mar 2, 2010 12:11am
Quoting shauns1966
Initially I was identifying multiple set ups every day mainly less than B trades, but now even limiting myself to what I would class as a B+ setup I rarely see more than a couple of setups a week that I would commit to trading.
Great post shuans. This statment above in your post tells me volumes of how right the path you are on. Waiting for that great A+ setup is what's its all about.

I knew Mike would like the poker reference. I tell ' ya, a nice A+ trade with a hard break is like playing Texas Holdem and being dealt "3" Aces instead of just 2. lol



Jim
Indicators show the past. Price Action "Indicates" the future.
  • #56,740
  • Mar 2, 2010 12:13am Mar 2, 2010 12:13am
Quoting shauns1966
I joined a couple of weeks ago. Best money I havbe spent, some excellent stuff in there. Have you taken the free guest tour? There's lots of good freeby's in there. James says he wants the free guest area to be better than most pay sites and I think he has suceeded!
Absolutlely.
Indicators show the past. Price Action "Indicates" the future.
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