james16 Chart Thread | Page 2964 | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

Where can I learn more about Price Action like those in James16 charts? 9 replies

Attachments: james16 Chart Thread
Exit Attachments

james16 Chart Thread

  • #59,261
  • Mar 26, 2010 12:49pm Mar 26, 2010 12:49pm
Quoting raczekfx
Yes, It is always a bonus... how did you know I was in that long trade...?
.
Turn around and see there's a secret camera. (if you could find it).
  • #59,262
  • Mar 26, 2010 12:58pm Mar 26, 2010 12:58pm
AAhh Friday. It is time for beer and peanuts.
  • #59,263
  • Mar 26, 2010 1:01pm Mar 26, 2010 1:01pm
Quoting mbqb11
Hey PM

Yes you are getting close here, but firstly zoom your charts out much more....
Thanks Mike!
  • #59,264
  • Mar 26, 2010 1:03pm Mar 26, 2010 1:03pm
Quoting PutaMadre
Thanks Mike!
I personally place market orders with the chart zoomed in as far as it can go. It is better to visually see your price entry and to keep the risk nice and low.
  • #59,265
  • Mar 26, 2010 1:04pm Mar 26, 2010 1:04pm
Quoting 4X=0
AAhh Friday. It is time for beer and peanuts.
Aahh Friday. it's time to read old posts.
  • #59,266
  • Mar 26, 2010 1:05pm Mar 26, 2010 1:05pm
Quoting nasir.khan
Aahh Friday. it's time to read old posts.
me too. i am multi-tasking.

cross my heart hope to get rich

one beer down
  • #59,267
  • Mar 26, 2010 1:07pm Mar 26, 2010 1:07pm
after 6 i go to bed because i didnt get any sleep last night.
  • #59,268
  • Edited 1:33pm Mar 26, 2010 1:18pm | Edited 1:33pm
i see some new folks around and a big welcome to you. i also see some people wanting to start out on small time frames.

these are for you.

http://www.forexfactory.com/showpost...ostcount=41772

http://www.forexfactory.com/showpost...ostcount=25737

http://www.forexfactory.com/showpost...ostcount=25169

http://www.forexfactory.com/showpost...ostcount=25755

http://www.forexfactory.com/showpost...ostcount=26452
  • #59,269
  • Mar 26, 2010 1:22pm Mar 26, 2010 1:22pm
Whats wrong with the hourly charts, surley you can take a trade within the space of an hour? I agree that going to 1 min or 5 min requires a bit more practice, but the just trading the daily on its on (picking good setups) is just not going to give you enough trades especially when you are learning, you need the practice, add to this doing it on demo, creates a completely false environment.

Trading hourly and above picking A set-ups risking 0.5% to start, with maybe half your capital will speed your learning 100x than playing daily demo. You would need to have 70 losing trades to lose 30% of your account!!

If you have learnt this stuff and are applying it then you shouldn't have such a losing streak.

Just my 2p

Chatz
  • #59,270
  • Mar 26, 2010 1:32pm Mar 26, 2010 1:32pm
Quoting james16
im gonna keep telling you the truth as i see it until FF kicks me out or i die.

lol

jim
Wish you a happy long life Jim.
and i'll be happy to tell people that I lived in the times of James16.
  • #59,271
  • Mar 26, 2010 1:35pm Mar 26, 2010 1:35pm
if you get good at what you do and if what you do produces small losses and large gains i believe there is great potential. a 7 pip stop loss at a low risk entry point will double your account at 250 pips gain risking 3%. This is a max stop loss. viable exits can and are done with and at 3.5 pips reducing risk to 1.5%. 250 pips in one trade is not unheard of whatsoever when you are looking at hourly and daily charts combined. two beer down
  • #59,272
  • Mar 26, 2010 1:38pm Mar 26, 2010 1:38pm
Quoting chatzi
Whats wrong with the hourly charts, surley you can take a trade within the space of an hour?...
well first of all the things are going much faster on h1 chart than on daily,
secondly the news affect the h1 chart much more than a daily ( on the weekly are usually not even seen-except the NFP)
then thirdly, once you achieve a little knowledge you dont need to sit behind the computer all day long watching charts, you just check whats new, highlight possible trade oportunities, trouble areas and just wait

of course if you have a lot experince you can trade lower timeframes, you have seen seniors on this thread trade successfully 1h and even lower timeframes, but thats not what this thread is about... as i understand this thread is to learn to trade profitably and gain a financial freedom while trading just a little (a few A++ trades a month) so that you have more time to do other more important things in your life

just my thoughts
ppfx
  • #59,273
  • Mar 26, 2010 1:38pm Mar 26, 2010 1:38pm
Quoting chatzi
Whats wrong with the hourly charts, surley you can take a trade within the space of an hour?...
Some will never get what trading on the higher time frames is really about. Even fewer will find their way out giving the whole thing a bazooka hit with an intra day start...I wish you're amongst these ppl Chatz,

Jim I guess was making a general comment no?

g.
I believe . . .
  • #59,274
  • Mar 26, 2010 1:40pm Mar 26, 2010 1:40pm
Quoting ppfx
as i understand this thread is to learn to trade profitably and gain a financial freedom while trading just a little (a few A++ trades a month) so that you have more time to do other more important things in your life
aye, aye...
  • #59,275
  • Mar 26, 2010 1:40pm Mar 26, 2010 1:40pm
Quoting chatzi
Whats wrong with the hourly charts, surley you can take a trade within the space of an hour? I agree that going to 1 min or 5 min requires a bit more practice, but the just trading the daily on its on (picking good setups) is just not going to give you enough trades especially when you are learning, you need the practice, add to this doing it on demo, creates a completely false environment.

Trading hourly and above picking A set-ups risking 0.5% to start, with maybe half your capital will speed your learning 100x than playing daily demo....
well you have my best wishes and i appreciate your time in the thread.

if you accomplish the following you would be the first i would personally know of in 28 years in this business.

1. start out with a small account.

2. start out on intraday and not blow your account.

3. or still be trading the SAME non blown account 10 years later.

wont happen.
  • #59,276
  • Mar 26, 2010 1:41pm Mar 26, 2010 1:41pm
Quoting nasir.khan
Wish you a happy long life Jim.
and i'll be happy to tell people that I lived in the times of James16.
+1

im quite new in this thread but i've learned a lot since im following you guys so i want to thank you all from the bottom of my heart

ppfx
  • #59,277
  • Mar 26, 2010 1:43pm Mar 26, 2010 1:43pm
is there anything wrong with demoing small time frames while your treating YOUR BUSINESS CORRECTLY?

OF COURSE NOT.
  • #59,278
  • Mar 26, 2010 1:47pm Mar 26, 2010 1:47pm
You can trade 10,000 units with a 250 deposit with OANDA. Max leverage is 50:1. This is $1 per pip to practice with. Put in $500 from your tax return and learn your lessons. Get a job. Keep practicing.
  • #59,279
  • Mar 26, 2010 1:50pm Mar 26, 2010 1:50pm
Quoting james16
i see some new folks around and a big welcome to you. i also see some people wanting to start out on small time frames.

these are for you.

I've learned so much here and in your J16 guest section. Thanks for sharing your lifetime of experiences!

Jacob
  • #59,280
  • Mar 26, 2010 1:53pm Mar 26, 2010 1:53pm
Quoting chatzi
Whats wrong with the hourly charts, surley you can take a trade within the space of an hour?...
What you don't see is that taking just very good long term trades is more consistent, and will create a higher % gain at the end of the year than diving in and out of 1hr charts with little to no experience.


I discovered this through forextester .

Some day I hope I can trade 1hr, maybe... but not for a very very long time.
Many choose unhappiness over uncertainty.
46 traders viewing now