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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

  • #57,041
  • Mar 3, 2010 11:31am Mar 3, 2010 11:31am
here is one I am still in

Eur/usd, at the 1.35. The way price was funneling downwards indicated a false break or a breakout long was coming. We then got the false breakout in the form of a PIN + massive divg +BRN. Red Xs were my stop movements. The current red X is a bit weird cause I hav emoved to trailing udner each current hourly low. I go a bit "lucky" last night when I moved my stop under 1.3600 round number and missed my stop by 8 pips.



Mike
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  • #57,042
  • Mar 3, 2010 11:31am Mar 3, 2010 11:31am
Quoting TiaForex
I'll be quoting that back at you when we get our next troll in July (4 months right?)
you sure can, and that should be right around the time my DVDs arrive
  • #57,043
  • Mar 3, 2010 11:35am Mar 3, 2010 11:35am
Just wondering what some of your thoughts are on this PB from yesterday that retraced a bit today and is now just below 86.00.

Thanks,

Jacob
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  • #57,044
  • Mar 3, 2010 11:37am Mar 3, 2010 11:37am
Quoting jarroo
I like it. It should be fun to watch.

Thanks bundy,

Jim
Gold chart could hint also. (1160).
  • #57,045
  • Mar 3, 2010 11:39am Mar 3, 2010 11:39am
Nice Trig

I entered the eur/usd too from the 4hr pinbar and I am aiming also for the 3800 area.

Please note that right now we are on the 50fib from 4020-recent low.

Quoting triger88990
here is an quick update from this post:
http://www.forexfactory.com/showpost...ostcount=56393

price behaves in his way do not let you caught by surprise

look where we stand today

the fiber did the same almost all the time, I play this 2 pair in tandem

What I have told you gives you the essence of my trading system as based on studying price behavior aka j16,which rocks all the time.

chart will speak by themself

just ignor my orders they where triggered from lower TF(1h-PB)

PS. thanks jaroo

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  • #57,046
  • Mar 3, 2010 11:40am Mar 3, 2010 11:40am
Quoting Ryanmcd
You just HAVE to get to a point when you have 0 guessing going on.... if I get stopped who cares, if it goes my why who cares
Well this is one of the most critical and hardest things a trader can be able to achieve.

Everyone can understand it, but that's the easy part. Being able to TRULY ACCEPT IT is the real mission. That requires a complete change in the way of thinking about trading. There is a holy grail..and that's your mind.
This stuff is so deep and powerful...
  • #57,047
  • Mar 3, 2010 11:40am Mar 3, 2010 11:40am
Quoting mbqb11
Who let James out of his bag last night, now I have some major catching up to do

Mike


when he shows up you can not stay in front of him,he keep posting only good stuff

all the best!
  • #57,048
  • Mar 3, 2010 11:44am Mar 3, 2010 11:44am
Quoting artov
Nice Trig

I entered the eur/usd too from the 4hr pinbar and I am aiming also for the 3800 area.

Please note that right now we are on the 50fib from 4020-recent low.
thanks artov

it looks great on your charts too

I'll let the price to give me the clues for my next move,just look to the left

all the best!
  • #57,049
  • Mar 3, 2010 11:49am Mar 3, 2010 11:49am
Hi all

good to see the crew here, Jim, Mike, Jaroo, Bundy et al

We salute you and your work!

what do you reckon re: the PB on the weekly gbp/usd?

it has a 61 fib, a swing low and a pz off late 2008 and early 2009

Cheers

Ant

ps ive been trying to post for a while but the site wasnt letting me
  • #57,050
  • Mar 3, 2010 11:54am Mar 3, 2010 11:54am
Jim! (And other IB lovers)
On EG, a potential double IB developing.
Opinions?
  • #57,051
  • Mar 3, 2010 11:59am Mar 3, 2010 11:59am
Quoting antgal23
Hi all

good to see the crew here, Jim, Mike, Jaroo, Bundy et al

We salute you and your work!

what do you reckon re: the PB on the weekly gbp/usd?

it has a 61 fib, a swing low and a pz off late 2008 and early 2009

Cheers

Ant

ps ive been trying to post for a while but the site wasnt letting me
Gotta wait for the Week close to confirm the formation. Still to early.

But your eyeing that right locational sweet spot. 1.5000 BRN, PPZ and 61.8 fib.
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Indicators show the past. Price Action "Indicates" the future.
  • #57,052
  • Mar 3, 2010 12:01pm Mar 3, 2010 12:01pm
Quoting benji533
Well this is one of the most critical and hardest things a trader is able to achieve.

Everyone can understand it, but that's the easy part. Being able to TRULY ACCEPT IT is the real mission. That requires a complete change in the way of thinking about trading. There is a holy grail..and that's your mind.
This stuff is so deep and powerful...
you are right benji!!

but it is a tricky part here because traders need to differentiate between healthy stress that can be used to keep them alert to changing market conditions and unhealthy stress that causes them to make bad decisions.We must learn to manage the stress of the markets and drawdowns and this can be achieved only by developing methods that suit your personality.

I have somethink for you if it will help you I'll be glad,send me a PM after you go through it

Has anyone from you have heard about this stuff:
http://www.seykota.com/tribe/TT_Process/index.htm

I have done a quick reserch and found that Michael Marcus a commodities trader had Seykota's as a mentor,he become a successful trader,there are many good stuff there

all the best!
  • #57,053
  • Mar 3, 2010 12:01pm Mar 3, 2010 12:01pm
Quoting Prof Hunter
Jim! (And other IB lovers)
On EG, a potential double IB developing.
Opinions?

Yes . . . . key word "developing".
Indicators show the past. Price Action "Indicates" the future.
  • #57,054
  • Mar 3, 2010 12:08pm Mar 3, 2010 12:08pm
I think Bundy and Chaos are the ones to thank for that discussion!


Quoting s005606
Thanks so much for the info!

I don't know if I am the only one, but I am ashamed to tell that one of my problems with trading (besides being a newbie with lack of knowledge) is that, I sleep too much.....I sleep like 8 or 10 and sometimes even 12 hrs a day, man I know it's a luxurious amount and most of the time I wake up just to find I missed this trade and that trade.

Wish I could sleep less......
  • #57,055
  • Mar 3, 2010 12:09pm Mar 3, 2010 12:09pm
Quoting antgal23
Hi all

good to see the crew here, Jim, Mike, Jaroo, Bundy et al

We salute you and your work!

what do you reckon re: the PB on the weekly gbp/usd?

it has a 61 fib, a swing low and a pz off late 2008 and early 2009

Cheers

Ant

ps ive been trying to post for a while but the site wasnt letting me
I am looking at this one too.
I like the big round number, old bar highs and the nice space (see the cherry?)

Let's see how it closes.
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  • #57,056
  • Mar 3, 2010 12:18pm Mar 3, 2010 12:18pm
Quoting triger88990
you are right benji!!

but it is a tricky part here because traders need to differentiate between healthy stress that can be used to keep them alert to changing market conditions and unhealthy stress that causes them to make bad decisions.We must learn to manage the stress of the markets and drawdowns and this can be achieved only by developing methods that suit your personality.

I have somethink for you if it will help you I'll be glad,send me a PM after you go through it

Has anyone from you have heard about this stuff:
http://www.seykota.com/tribe/TT_Process/index.htm...

Hey trig,

Actually nothing to do with stress or draw downs this time.
---
Thanks for the links bud. I'll check them in an opportunity.

Ben
  • #57,057
  • Mar 3, 2010 12:27pm Mar 3, 2010 12:27pm
Quoting mbqb11
you sure can, and that should be right around the time my DVDs arrive
You never heard of rapidshare?
  • #57,058
  • Mar 3, 2010 12:29pm Mar 3, 2010 12:29pm
Quoting 89tick
The big advantage with futures is the fact that you dont pay a spread
Hi, I am a bit surprised with this since you will have to pay your bid-offer spread. Now the spread on ES1 contract is 0.25 ticks.
Moreover, you have to pay a broker fee to trade futures, which is not the case in FX (you just have to pay your spread which includes the broker's margin)
  • #57,059
  • Mar 3, 2010 12:32pm Mar 3, 2010 12:32pm
Quoting Lapin
Hi, I am a bit surprised with this since you will have to pay your bid-offer spread. Now the spread on ES1 contract is 0.25 ticks.
Moreover, you have to pay a broker fee to trade futures, which is not the case in FX (you just have to pay your spread which includes the broker's margin)
Yes $1.75 a round trip commission, bid offer is 1 tick, I use a limit to enter at the close price of the PIN so effectively avoid it on the way as it normally goes at least one tick higher.
  • #57,060
  • Mar 3, 2010 12:37pm Mar 3, 2010 12:37pm
Quoting benji533
Hey trig,

Actually nothing to do with stress or draw downs this time.
---
Thanks for the links bud. I'll check them in an opportunity.

Ben
you did replay to ryan post

Quote
if I get stopped who cares, if it goes my why who cares
so as far I'm concern when a trade goes against you, you have to face with drawdowns and with the stress involved thats way I talk about healthy/unhealthy stress

is seems that there is a lot of misunderstanding/confusion through the internet like usually

anyway I was just trying to help

all the best! I'm off going to take a deeply sleep
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