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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

  • #56,841
  • Edited 12:34pm Mar 2, 2010 11:50am | Edited 12:34pm
Quoting Cherry
Still wondering if anyone can answer the above question for me please?
I only used the EA briefly, but IIRC it was just 20. After all, despite the stupid name, a 'pip' is an actual unit of measurement... and adding fractional pips (ie, fifth decimal) doesnt change that.

Quoting scott89
Anyway, my idea, based on that topic, is to create an indicator which DOESN'T replace our beloved human combo made of eyes+brain ( I'm a gamer, so i like the "combo" word =) ) but my intent is to create an indicator that helps us out to classify pin bars and any other kind of price action.
You can, and there are even a couple floating around this thread that identify price action setups. They dont classify them, as such, but you could definitely add filters for location based on surrounding bars, trend, bar size, etc.

The question is more why you would bother. You are going to have to look at the bar anyways if you want to trade it, and good setups stand out so you arent going to miss any.

And, in any case, to build something applicable, you are going to have to understand the methodology inside and out (it isnt as simple as '1 MA above another + pinbar = $$$)... at which point, you will realise that an indicator isnt that helpful.

There is a reason almost no one in here uses an EA to pick trades

Quoting giotto
Hey guys,

CADJPY 4hr PIN have been triggered, just closed 1/3 and put rest to BE. Hope you agree on PPZ zones. Lets see if market is heading to some direction finally.
Very nice
When you have to shoot, shoot. Dont talk.
  • #56,842
  • Mar 2, 2010 12:05pm Mar 2, 2010 12:05pm
Quoting Ryanmcd
I will never setup a site to teach people because it takes too much time to do it right, I think the J16 site is great and I have been a member in the past. But as you know if you do trade for a living then you know more people will fail at this it's just how it goes, if you think I am full or crap that is fine as I think you are full of it too because the 6 posts you have are all bashing people I posted screen prints of my live account to show my trades but it always seems that the losers that can not trade go nuts and want to bash everyone else....
hi Ryan,
i'm reading your posts for some time and you really dont have to prove anything. Hope you will find strength to ignore such posts, there are not too much of them, but i know they could hurt sometimes.
Your posts like Raczek's posts are maybe not pure J16, and not for begginers, but gives some thoughts and ideas where to maybe go futher.

Not wasting a post for only writing i want to attach setup that i found. Nice PB on CADJPY on swing high, confluenced with two Fib levels and pivot line. Few minutes after opening a trade SL was moved to BE, so now it's a free trade.
regards
oromek
Attached Image (click to enlarge)
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  • #56,843
  • Mar 2, 2010 12:05pm Mar 2, 2010 12:05pm
Quoting Ryanmcd
I will never setup a site to teach people because it takes too much time to do it right, I think the J16 site is great and I have been a member in the past. But as you know if you do trade for a living then you know more people will fail at this it's just how it goes, if you think I am full or crap that is fine as I think you are full of it too because the 6 posts you have are all bashing people I posted screen prints of my live account to show my trades but it always seems that the losers that can not trade go nuts and want to bash everyone else....

Ryan, you're too emotional. Nothing personal.
  • #56,844
  • Mar 2, 2010 12:18pm Mar 2, 2010 12:18pm
Quoting oromek
Nice PB on CADJPY on swing high, confluenced with two Fib levels...
Hey oromek... I'm in this trade too. Noticed your fib levels on your chart and one of them seems to be incorrect. Your Feb 04 to Feb 21 lines seem to apply to a retrace to go long.

So, using those fibs, we would look for a long following a retrace after Feb 21. The CADJPY pin was for a short. Hopefully this makes sense, or I might have misread your use of "fib confluence".

Just an observation.

-- Danny
  • #56,845
  • Mar 2, 2010 12:19pm Mar 2, 2010 12:19pm
Quoting Max Profit
Ryan, you're too emotional. Nothing personal.

Max Profit, please post something helpful or useful yourself instead of commenting on others. You haven't yet, and Ryan has many times. Read the whole thread and you'll see he has shared a lot. He isn't too emotional; I would be much more upset if you came and insulted me without even doing your research, and he has handled it very well.

In this thread we really try to help each other, this isn't like other threads. We would love to have you contribute, but please do so respectfully, as this thread has been here a long time and several traders including Ryan have done enough to prove themselves already.

Cory
  • #56,846
  • Mar 2, 2010 12:22pm Mar 2, 2010 12:22pm
Quoting scott89
Hey guys, how do you do?

I've found here on FF a topic (up to date) talking about PBs and EAs.

Any of you using Metatrader4? I do, and I'm not really interested in Expert Advisors, but I DO am interested in indicators.
...
hi Scott
my first thoughts after first encounter of this thread was exactly the same. I wrote for myself indicator for buobs/beobs/tbh/tbl, but as quick as i wrote it, i stopped using it. Nothing replace watching charts and thinking how situation will pan out.
I think PB are more difficult to code than other PA's, the main benchmark for me to rate them is their location , and surrounding if this PB, so it could be quite challenging to write good indicator for PB. My suggestion is to spend week or two with charts, and see if you still need something like that.
oromek
  • #56,847
  • Mar 2, 2010 12:25pm Mar 2, 2010 12:25pm
Quoting Cbh123
Max Profit, please post something helpful or useful yourself instead of commenting on others. You haven't yet, and Ryan has many times. Read the whole thread and you'll see he has shared a lot. He isn't too emotional; I would be much more upset if you came and insulted me without even doing your research, and he has handled it very well.

In this thread we really try to help each other, this isn't like other threads. We would love to have you contribute, but please do so respectfully, as this thread has been here a long time and several traders...

OK mate, there's an ending diagonal on the euro 5 min you might want to keep an eye on.
  • #56,848
  • Mar 2, 2010 12:26pm Mar 2, 2010 12:26pm
Quoting bluetrader
Short on the 4 hour pin in CAD/JPY. It's currently at the first area of traffic.

It's off the 61.8 fib with a little bit of space.

My target is the second area highlighted (in aqua).

Anyone else take this?

-- Danny
I looked at this for a while but I didn't like that it closed above 8600. Its worked out well now though. I thought I would rather wait for the Daily as I was unsure and that is looking good now.
  • #56,849
  • Mar 2, 2010 12:30pm Mar 2, 2010 12:30pm
Quoting bluetrader
Hey oromek... I'm in this trade too. Noticed your fib levels on your chart and one of them seems to be incorrect. Your Feb 04 to Feb 21 lines seem to apply to a retrace to go long.

So, using those fibs, we would look for a long following a retrace after Feb 21. The CADJPY pin was for a short. Hopefully this makes sense, or I might have misread your use of "fib confluence".

Just an observation.

-- Danny
hi Danny

you totaly right, i was looking at it totaly automatically. In fact i shouldn't use this confluence when rating this setup. Thanks for that.
oromek
  • #56,850
  • Mar 2, 2010 12:30pm Mar 2, 2010 12:30pm
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!
Here is my honest answer and what I tell most people
I hate talking bout the private forum in public. I don't ever want people think we are soliciting b/c we just aren't that type of group

To answer your question someone asked me the same thing and I wrote


My first recommendation is to just hang around the public forum. You will be able to learn a ton there and in fact I tell people to spend 3-4 months there before deciding to join us anyway. See if what we do is for you, there is enough information on the public area here alone to make someone profitable hands down. B/W our guest section and this many will attest to that. To get an idea of what we do check out the tour member area videos(those are outdated now but gives a general idea) on our site, and our free videos. There is just basically a ton more of that. To give you an idea I have about 60+ videos not including my videos that I interlace into the forum. I have my section for beginners, my section for my material etc. It is far from anything like here is a 20 page pdf on a "system". This is why I highly recommend hanging out here cause that just isn't what we are about. I mean my intraday thread alone is 2800+ posts lol. And this is just my part of the forum(we have all James, senior members, MM, psych, all with their own text videos). Again, you asked I answered but if you have more questions just shoot me a PM. I might delete this after you see it also cause I don't want to come off wrong.


Hope that helps a bit
Mike
  • #56,851
  • Edited Mar 3, 2010 5:08am Mar 2, 2010 12:36pm | Edited Mar 3, 2010 5:08am
Quoting mbqb11
Here is my honest answer and what I tell most people
I hate talking bout the private forum in public. I don't ever want people think we are soliciting b/c we just aren't that type of group

To answer your question someone asked me the same thing and I wrote


My first recommendation is to just hang around the public forum. You will be able to learn a ton there and in fact I tell people to spend 3-4 months there before deciding to join us anyway. See if what we do is for you, there is enough information on the public area here alone to make someone...

Mike, don't worry, this is the commercial section, sell away! While you're here, is there any 5 min stuff over there? I know all about pinbars, supp/res etc, just wondered if anyone over there trades the 5 min and does well? I averaged 5% so far this week, looking to increase it with a less riskier approach. Just because I make money, doesn't mean I'm blinkered enough to think I couldn't spot something that I could add to make me more %.
  • #56,852
  • Mar 2, 2010 12:41pm Mar 2, 2010 12:41pm
Quoting Max Profit
Mike, don't worry, this is the commercial section, sell away! While you're here, is there any 5 min stuff over there? I know all about pinbars, supp/res etc, just wondered if anyone over there trades the 5 min and does well? I average 5% per week, looking to increase it with a less riskier approach. Just because I make money, doesn't mean I'm blinkered enough to to think I couldn't spot something that I could add to make me more %.
maybe it is, but I hate that aspect of what it groups us in.

Quite a few of our seniors trade a variety of low timeframes. Like rusyjeff and Dion. Really PASR can be applied across the board. Heck 5% a week, blowing me out the water well done at that rate 10k turns to 120k plus in 1 year and the next year 1.4mil plus. When you say risky I am assuming beyond risky.

Mike
  • #56,853
  • Mar 2, 2010 12:44pm Mar 2, 2010 12:44pm
Quoting Max Profit
Mike, don't worry, this is the commercial section, sell away! While you're here, is there any 5 min stuff over there? I know all about pinbars, supp/res etc, just wondered if anyone over there trades the 5 min and does well? I average 5% per week, looking to increase it with a less riskier approach. Just because I make money, doesn't mean I'm blinkered enough to think I couldn't spot something that I could add to make me more %.
Hey Max,

There is a guy on here called Ryan, he loves to trade the 5 min stuff, very helpful guy too.

You should read some of his posts, they are very interesting......

Hope this is of some use to you.

Dave.
  • #56,854
  • Mar 2, 2010 12:47pm Mar 2, 2010 12:47pm
Quoting daveoz001
Hey Max,

There is a guy on here called Ryan, he loves to trade the 5 min stuff, very helpful guy too.

You should read some of his posts, they are very interesting......

Hope this is of some use to you.

Dave.
LOL
  • #56,855
  • Mar 2, 2010 12:52pm Mar 2, 2010 12:52pm
5% a week for someone who has been a 'fulltime trader for 5 years' (who, I assume, wouldnt start with any less than $10k) inches you into the Forbes 200, somewhere around 190ish.

At least a couple hundred mil above Lucas, Spielberg, Armani, Ralph Lauren, Oprah... and Paul Tudor Jones.
When you have to shoot, shoot. Dont talk.
  • #56,856
  • Mar 2, 2010 12:54pm Mar 2, 2010 12:54pm
Quoting ghous
This will happen over and over and over again...can't help smiling at it each time it presents itself...a "confluence-laden" A+ setup doing exactly what you should expect it to do.

g.
Nice one ghous. (IPB)

Strong confluences in consolidation. Powerful stuff.
Indicators show the past. Price Action "Indicates" the future.
  • #56,857
  • Mar 2, 2010 12:55pm Mar 2, 2010 12:55pm
Quoting daveoz001
Hey guys,
Can someone tell me if there is a post anywhere, or maybe create one that has a list of the abbreviations commonly used on the thread?

I have figured out most, but Mike just threw out another that has me scratching my head......BRN......or maybe it's not supposed to be figured out as it's one of his "secrets".

C'mon Mike share the secret......Buy Right Now......Big Red Nuts.....Boys Rule the Nest.....

See what I'm going through.......and I know what you're thinking........Bloody Rude Newcomer!!!!!!!!!!!!

All jokes aside...
Indicators show the past. Price Action "Indicates" the future.
  • #56,858
  • Mar 2, 2010 1:03pm Mar 2, 2010 1:03pm
Just a little heads to for those who would like to demo some pure PA.
Anyways..it's about sleep time for me.
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  • #56,859
  • Mar 2, 2010 1:09pm Mar 2, 2010 1:09pm
Quoting oromek
hi ertorque
i'n my opinion there is absolutly no reason to start doubting on PA. Take into account that properly managed, every one of your setups should finish at BE in the worst case, and PA2 and PA3 should earn some pips.

oromek
I like that statement oromek.

Quoting ertorque
Hi Oromek,
, you were right abt those losing trades if managed properly would yield no losses (BE) and would in effect generate net positive gains with all 4 setups.
I don't understand your remark that entry is poor because it is done at S/R zone. I had thought the location is good since there are confluences of BRN of 80, off 38.2% of 2 FIBs (green and blue levels in my chart). The only cons according to our seniors are the bars not being big enough and probably space. Have I misunderstood you?

CY
Very good points CY, but an important key that is critical . . . James16's "This is Critical":

http://www.forexfactory.com/showpost...ostcount=15568
Indicators show the past. Price Action "Indicates" the future.
  • #56,860
  • Mar 2, 2010 1:20pm Mar 2, 2010 1:20pm
Quoting icarusfx
Hey jaroo, i knew you'd like this trade..... i think you may of missed my post( below) in response to trigger, but it's funny how we both used the word "juicy".

take it easy

ic
I may have missed your post ic, but then again mine mind picked up the word "juicy" from some where. lol

Establishing a zero risk position, with room to run, is always a very juicy proposition to me too.
Indicators show the past. Price Action "Indicates" the future.
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