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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

  • #59,961
  • Apr 5, 2010 8:01am Apr 5, 2010 8:01am
Hi all,
anyone can tell me let say if this bar is close at this range, this IB is count as how many? (eg. I4B, I12B) still quite confuse on this IB stuff. Thank you.

rdgs,
skin
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  • #59,962
  • Apr 5, 2010 8:07am Apr 5, 2010 8:07am
Quoting nasir.khan
I just added another.......
.
Nasir, if you don't mind me asking, where do you place your stops when using this technique? It looks like just behind the top/bottom of your latest additional entry?

Also, earlier you mentioned you used the same risk when adding positions. What do you mean by that? Do you use a fixed s/l size (and as such, the same lot size) for each new addition, or do you use custom s/l and position sizes for each new addition?

Thanks!

Boy
It's not about how much you make, it's about how much you don't lose.
  • #59,963
  • Apr 5, 2010 8:22am Apr 5, 2010 8:22am
Quoting skinfx
Hi all,
anyone can tell me let say if this bar is close at this range, this IB is count as how many? (eg. I4B, I12B) still quite confuse on this IB stuff...
Hello skin,
i'll just use a little example off your chart:
[assuming there are only 7bars] i'll use the last 7 bars (5 green bars & 2 re bars).
then the bar with an arrow is an I7B

it's really easy.. here are some links to help u out
http://www.forexfactory.com/showpost...ostcount=59001
http://www.forexfactory.com/showpost...ostcount=58997
http://www.forexfactory.com/showpost...ostcount=59040

(EDIT: i cant give u the exact count for x in IxB, since i cant exactly see & compare the size of the other bars in your chart;
count the range of each bar :
range of each bar = # of pips from hi to low of each bar)
  • #59,964
  • Apr 5, 2010 8:34am Apr 5, 2010 8:34am
Quoting Dhb
Nasir, if you don't mind me asking, where do you place your stops when using this technique? It looks like just behind the top/bottom of your latest additional entry?

Also, earlier you mentioned you used the same risk when adding positions. What do you mean by that? Do you use a fixed s/l size (and as such, the same lot size) for each new addition, or do you use custom s/l and position sizes for each new addition?

Thanks!

Boy
Same risk mean every time risking 2% of my account.

Every time a new peak is broken i move my stops from 1 valley(Troph) to the next one.
The chart below shows how i moved my stops.

Blue lines are my previous stop levels.
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File Type: pdf Pring_PeaksAndTrophs.pdf   181 KB | 1,335 downloads
  • #59,965
  • Apr 5, 2010 8:43am Apr 5, 2010 8:43am
Quoting nasir.khan
I just added another.......
.
nice
  • #59,966
  • Apr 5, 2010 8:45am Apr 5, 2010 8:45am
Quoting nasir.khan
...
.
your attachment/pdf title should read "peaks & troughs"
  • #59,967
  • Apr 5, 2010 8:49am Apr 5, 2010 8:49am
Quoting supremeChaos
your attachment/pdf title should read "peaks & troughs"
Find him out wherever he is and Blame him.

http://www.forexfactory.com/showpost...66&postcount=2
.
  • #59,968
  • Apr 5, 2010 8:53am Apr 5, 2010 8:53am
Quoting supremeChaos
your attachment/pdf title should read "peaks & troughs"
Btw would any body believe this.

I took printouts of this PDF and read it 2-3 times.
.
and can't remember if it was trough or Troph.
.
Thats DUMB right.
.
But at least i learnt the basic concepts.
.
  • #59,969
  • Apr 5, 2010 8:54am Apr 5, 2010 8:54am
Great stuff, Nasir. Thanks a million.

Guess you're doubling your account every month with this technique?
It's not about how much you make, it's about how much you don't lose.
  • #59,970
  • Edited Apr 6, 2010 12:09am Apr 5, 2010 9:22am | Edited Apr 6, 2010 12:09am
Quoting Dhb
Great stuff, Nasir. Thanks a million.

Guess you're doubling your account every month with this technique?
Nop that's a 5 million$ (DEMO) account and i only trade 1 standard lot every time.

I did't even knew how much profit i made in this trade until you asked me and this is the reason i am still in this trade.

Whenever i cached a runner i would see my P/L window and when i see profit coming down and down i would closed my trades without even considering that what my charts are telling me.

I just wan't to trade like a robot totally emotionless.
.
  • #59,971
  • Apr 5, 2010 9:58am Apr 5, 2010 9:58am
Quoting nasir.khan
Thanks Sc.

Btw my English is a thousand times better now cause of FF.

I just noticed that in past 1-2 months i have also started to think in English too.
.
I record my trades and their updates in English. take that

lol.

g.
I believe . . .
  • #59,972
  • Apr 5, 2010 10:18am Apr 5, 2010 10:18am
Quoting jarroo
I like it too, not for the size obviously, but its off a nice BRN, 1.5000 and
strong confuenced area, monthly PPZ and retracement level 61.8 fib.

Also like that the left eye is a weekly PPZ level. If Price retrace down to this level, it will give a good indication if the down trend or a retest of the 1.5 will be respected or not.

1.5350 is a key level before the break. If it breaks, I like to see it turn into support too ppfx.
Thank you Jaroo - I'll be watching this one closely
Anything can happen.
  • #59,973
  • Apr 5, 2010 11:15am Apr 5, 2010 11:15am
Quoting james16
3800
Quoting james16
3800
Quoting james16
3800
Quoting james16
3800
Quoting james16
3800
Quoting james16
Closing in on 4000 pages and 60,000 posts.

Hard to believe.

Thanks to all of you, old and new.

Jim
...Alright.... Where is he?
Bundy's status today: "Waiting..."
  • #59,974
  • Apr 5, 2010 11:40am Apr 5, 2010 11:40am
Quoting nasir.khan
Nop that's a 5 million$ account and i only trade 1 standard lot every time.

I did't even knew how much profit i made in this trade until you asked me and this is the reason i am still in this trade.

Whenever i cached a runner i would see my P/L window and when i see profit coming down and down i would closed my trades without even considering that what my charts are telling me.

I just wan't to trade like a robot totally emotionless.
.
Lol. I'm guessing you've got a different car for each day of the week too huh?

Anyway, what you said about the pnl window, is what I do as well. Only check the balance before the trade to calculate the lot size, then close it and use only THE CHART to decide whether to add, move stops, or close a trade. Seeing your pnl go up and down only makes people anxious to get out of trades early.

Manage what happens on the chart correctly, and the money will follow anyhow.
It's not about how much you make, it's about how much you don't lose.
  • #59,975
  • Apr 5, 2010 11:53am Apr 5, 2010 11:53am
Does anyone have any info of how to trade bullish/bearish outside vertical bars? Where do you enter/exist?

Thanks
I am so out of date that I have not yet caught the Millennium Bug.
  • #59,976
  • Apr 5, 2010 11:57am Apr 5, 2010 11:57am
I am sorry folks if this has been already discussed, but I saw recent posts about brokers and decided to ask my question, which bothers me a lot lately.

From time to time I hear talks that small accounts, let's say up to 50 000$, are not led into a real market. So, you are basicly trading with the broker, or better say - against the broker. When you are losing money it's ok, but when you start trading profitable for months, here the problems begin: like deleting deals from the history, spikes etc. I have even heard that some brokers have black lists of profitable traders, and they put someone to monitor all your trades and to make everything for you to lose money.

Would appreciate any feedback on this question.

Ira
  • #59,977
  • Apr 5, 2010 12:03pm Apr 5, 2010 12:03pm
Quoting mkpkelly
Does anyone have any info of how to trade bullish/bearish outside vertical bars? Where do you enter/exist?

Thanks
Hello,

Take a look back through the thread. If you read almost any give 5-10 pages in a row, these are discussed in great detail. Or check just the first post on this thread and start reading man. There is TONS of info here already. Try the search feature too.

Good luck,

Donnie
  • #59,978
  • Apr 5, 2010 12:14pm Apr 5, 2010 12:14pm
Quoting ira
I am sorry folks if this has been already discussed, but I saw recent posts about brokers and decided to ask my question, which bothers me a lot lately.

From time to time I hear talks that small accounts, let's say up to 50 000$, are not led into a real market. So, you are basicly trading with the broker, or better say - against the broker. When you are losing money it's ok, but when you start trading profitable for months, here the problems begin: like deleting deals from the history, spikes etc. I have even heard that some brokers have black...

Hey Ira

It really just depends on the type of broker you are with. If you are with a dealing desk then your broker is on the other side(in a manner of speaking), and if you are with an ECN then you orders are matched up with other clients. If you stick with the bigger well known names that have been around the block for sometime you are going to be ok for the most part. I hate recommending brokers b/c it is a very personal thing, but that is my advice. Most broker complaining you hear about are with no name bucketshops or people who are just losing in the FX market due to their own non-due dilligence and then complain that it is the broker(ex market orders in a fast market).

Best
Mike
  • #59,979
  • Apr 5, 2010 12:16pm Apr 5, 2010 12:16pm
Quoting bundyraider
...Alright.... Where is he?
haha lets do this
  • #59,980
  • Apr 5, 2010 1:05pm Apr 5, 2010 1:05pm
Quoting mbqb11
Hey Ira

It really just depends on the type of broker you are with. If you are with a dealing desk then your broker is on the other side(in a manner of speaking), and if you are with an ECN then you orders are matched up with other clients. If you stick with the bigger well known names that have been around the block for sometime you are going to be ok for the most part. I hate recommending brokers b/c it is a very personal thing, but that is my advice. Most broker complaining you hear about are with no name bucketshops or people who are just losing...
Thank you Mike very, very much. It is always a pleasure to read your posts and anyone can see what a huge amount of work you do to help people.


And one more question, is there a way to find where is the dealing desk and where is the broker with ECN?

Ira
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