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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

  • #59,581
  • Mar 30, 2010 11:56am Mar 30, 2010 11:56am
Quoting benji533
Finally. At least I have learned something new today. Thanks Danny
  • #59,582
  • Mar 30, 2010 12:33pm Mar 30, 2010 12:33pm
Quoting Ghettobuddha
Anybody in this one?

4hr pin off the 140 BRN.
Bounce off the 365 EMA
Downward Divergence

Hey Ghettobuddha

No 4hr Pin on my feed but 1H shows a I4B coiled up like a spring. Going away tomorrow so unless it breaks hard in the next 3 hours I can't play it, but it looks like a great set up!! Good luck
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  • #59,583
  • Mar 30, 2010 12:58pm Mar 30, 2010 12:58pm
Quoting Ghettobuddha
Anybody in this one?

4hr pin off the 140 BRN.
Bounce off the 365 EMA
Downward Divergence
This one is too small for me personally, but just watch that previous high around 139.60 for first trouble area

Best
Mike
  • #59,584
  • Mar 30, 2010 1:42pm Mar 30, 2010 1:42pm
my trade, just bagged 60pips, exiting by looking at different currency graph, things happen, just wake up from my 6 hour night sleep. feels good tho my trading based on the pin bar,stop loss was just above the pin bar.
thanx james for all the efforts here.
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  • #59,585
  • Mar 30, 2010 1:43pm Mar 30, 2010 1:43pm
We have a BEOB which is straddling a BRN and PPZ (13,500).

I guess we will find out tomorrow if there's any legs left in shorting Eur / Usd.

  • #59,586
  • Mar 30, 2010 1:57pm Mar 30, 2010 1:57pm
looking for short here, BEOB, ppz is around the round number,
any ideas about this trade?
whats not, what to take note. suggestions are highly appreciated.
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  • #59,587
  • Edited 2:29pm Mar 30, 2010 2:10pm | Edited 2:29pm
Quoting benji533
There are people out there wasting their life doing crap and struggling to keep their family standing. People who spend their entire young years studying and printing degrees, and then get fired after after a few years with no way back.
To be honest, those people will also fail at trading, or sports, or business, or anything else they try. Because they clearly lack either the skills, the intelligence or the motivation to achieve anything significant. I cant remember who said it (Mike or Douglas, maybe?) but people trying to use trading to escape from something almost always fail.

Starting salary for our finance grads is almost $80k. First year. And we are midrange in that respect. And ignores the fact that they can freely work and trade. What do you think the average annual income for a first year trader on FF is? Like a thousand bucks, maybe? Pretty sure I wouldnt call the former 'wasting' someone's life.

Good luck getting meaningful capital without working for it.
When you have to shoot, shoot. Dont talk.
  • #59,588
  • Mar 30, 2010 2:39pm Mar 30, 2010 2:39pm
Quoting joelcf
Starting salary for our finance grads is almost $80k. First year.

WHAT????


oh.... Australia....

Finance grad would celebrate in the streets for a month if they started at $50k in the USA....
Many choose unhappiness over uncertainty.
  • #59,589
  • Edited 2:59pm Mar 30, 2010 2:52pm | Edited 2:59pm
Quoting Dan Gilbert
WHAT????


oh.... Australia....

Finance grad would celebrate in the streets for a month if they started at $50k in the USA....
That's pretty standard for similar US positions too, since it's a very competetive and somewhat specialized market where people move pretty freely. I have two friends who did grad rotations in Chicago and were on 70k usd.

Point is, even at 50k, you are still making more than 95% of 'fulltime traders' on FF, so it's hardly a waste of time.

The End
When you have to shoot, shoot. Dont talk.
  • #59,590
  • Mar 30, 2010 3:33pm Mar 30, 2010 3:33pm
Quoting joelcf
I have two friends who did grad rotations in Chicago and were on 70k usd.
I don't even know one person who has started at 70k (midwest region)... in any field... More recently college grads have been getting jobs at starbucks after graduation just because the 100+resumes they sent out didn't even get a phone call.

But that's a whole nother story
Many choose unhappiness over uncertainty.
  • #59,591
  • Mar 30, 2010 4:02pm Mar 30, 2010 4:02pm
Hi guys

What do you think of this BEOB on Fiber daily? Move down, retrace, and continuation with BEOB? Only barrier would appear to be the bar high 3 bars to the left, if it breaks of course. How would this rate as a setup, if it breaks?

berti
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PA is where its at!!
  • #59,592
  • Mar 30, 2010 4:03pm Mar 30, 2010 4:03pm
And don't forget the bonuses! Personally I would have loved to get onto a grad trading role .... problem was my mental arithmetic was not up to scratch. I distinctly remember an HR officer relaying some rather ackward numbers that I had to quickly calculate in my head, whilst she held a stop watch in one hand .... needless to say I was much too slow ....


Quoting joelcf
That's pretty standard for similar US positions too, since it's a very competetive and somewhat specialized market where people move pretty freely. I have two friends who did grad rotations in Chicago and were on 70k usd.

Point is, even at 50k, you are still making more than 95% of 'fulltime traders' on FF, so it's hardly a waste of time.

The End
  • #59,593
  • Mar 30, 2010 4:28pm Mar 30, 2010 4:28pm
Quoting Pinnocchio_S
And don't forget the bonuses! Personally I would have loved to get onto a grad trading role .... problem was my mental arithmetic was not up to scratch. I distinctly remember an HR officer relaying some rather ackward numbers that I had to quickly calculate in my head, whilst she held a stop watch in one hand .... needless to say I was much too slow ....
lol, yeah. I got 'square root of 100,000' and 'compound $1m @ 10% for 10y' as standard first round filter questions, before I even got to the actual interview.

Quoting Dan Gilbert
More recently college grads have been getting jobs at starbucks after graduation just because the 100+resumes they sent out didn't even get a phone call.
Ouch. Although, having only just discovered Starbucks last week, I can safely say that you probably need a college degree to work out how much a damn coffee costs.

Quoting bertie123
What do you think of this BEOB on Fiber daily? Move down, retrace, and continuation with BEOB? Only barrier would appear to be the bar high 3 bars to the left, if it breaks of course. How would this rate as a setup, if it breaks?
I'd be worried about the highs from the previous two bars there - as you pointed out, they could be a pretty big barrier. I think the general consensus with these BEOB setups is that they are best at swing low/highs, but I like them as a trend continuation play. Would want to see a pretty heft break though... the bars arent big enough and the close isnt convincing enough for me to just push butan - unless it breaks so hard that Jaroo's head spins, I'd be wary.

(as a general tip, you should zoom out more to put the bars and their size/position in context)

Also, that's a pretty slick looking platform.
When you have to shoot, shoot. Dont talk.
  • #59,594
  • Mar 30, 2010 4:30pm Mar 30, 2010 4:30pm
Quoting joelcf
That's pretty standard for similar US positions too, since it's a very competetive and somewhat specialized market where people move pretty freely. I have two friends who did grad rotations in Chicago and were on 70k usd.

Point is, even at 50k, you are still making more than 95% of 'fulltime traders' on FF, so it's hardly a waste of time.

The End
As being in finance field I agree with joelcf. In normal circumstances, 50K is not something which is hard to find in Canada as well for finance grad. Add 2 more years of study after University and the person will be in 6 figures perks excluded.
  • #59,595
  • Mar 30, 2010 4:40pm Mar 30, 2010 4:40pm
BEOB setup on Daily
set sell stop (1.3376) at 10pip below small PPZ. (Demo)

Any comments welcome.... thanks....
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  • #59,596
  • Mar 30, 2010 4:58pm Mar 30, 2010 4:58pm
Quoting joelcf
Ouch. Although, having only just discovered Starbucks last week, I can safely say that you probably need a college degree to work out how much a damn coffee costs.
You'll get used to it
Many choose unhappiness over uncertainty.
  • #59,597
  • Mar 30, 2010 6:51pm Mar 30, 2010 6:51pm
Quoting Dan Gilbert
I don't even know one person who has started at 70k (midwest region)... in any field... More recently college grads have been getting jobs at starbucks after graduation just because the 100+resumes they sent out didn't even get a phone call.

But that's a whole nother story
If they only sent out resumes then that's their own fault.

Trust me. Our family runs a business and it's more often than not the person who walks in the door or phones in at the right time who gets the job.
And for a more qualified position DEFINITELY those who have been there face to face at the least.

...Not to mention the old "It's not what you know, but who.".

Quoting joelcf
Ouch. Although, having only just discovered Starbucks last week, I can safely say that you probably need a college degree to work out how much a damn coffee costs.
I thought Starbucks pulled out of Australia? lol. Obviously not.
Bundy's status today: "Waiting..."
  • #59,598
  • Mar 30, 2010 6:58pm Mar 30, 2010 6:58pm
Quoting bundyraider
I thought Starbucks pulled out of Australia? lol. Obviously not.
I went to new york for a week - you cant go eight steps without seeing a SBUX there

I think they closed about 90% of their Australian operations - although there are at least two left in Sydney I have seen, with one close enough for me to get coffee-flavoured beverages loaded with all sorts of stuff that shouldnt be in coffee.

Quoting bundyraider
Trust me. Our family runs a business and it's more often than not the person who walks in the door or phones in at the right time who gets the job.
...Not to mention the old "It's not what you know, but who.".
I'm going to go ahead and assume - based on screenname and location - that your family runs Bundaberg Rum, and propose that *I* know you and therefore should get a job testing beverages for their potency.
When you have to shoot, shoot. Dont talk.
  • #59,599
  • Mar 30, 2010 7:40pm Mar 30, 2010 7:40pm
Quoting benji533
Not sure if you are a full time trader, but..
i KNOW you arent

  • #59,600
  • Mar 30, 2010 8:50pm Mar 30, 2010 8:50pm
Quoting skinfx
BEOB setup on Daily
set sell stop (1.3376) at 10pip below small PPZ. (Demo)

Any comments welcome.... thanks....
Like alot of the other people are saying, just be careful of those bar highs on the left
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