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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

  • #62,981
  • May 6, 2010 2:16pm May 6, 2010 2:16pm
Quoting mbqb11
Actually technicals were still in place on plenty of things. If you just start shorting or long when you see large bars then I agree. My trade was very sound and I have made similar plays year after year. Just like if you were short usd/jpy from the DBHLC, did you know this would happen. HELL no! But if it does and your in then you ride the train.
this^
Many choose unhappiness over uncertainty.
  • #62,982
  • May 6, 2010 2:17pm May 6, 2010 2:17pm
Quoting mbqb11
Actually technicals were still in place on plenty of things. If you just start shorting or long when you see large bars then I agree. My trade was very sound and I have made similar plays year after year. Just like if you were short usd/jpy from the DBHLC, did you know this would happen. HELL no! But if it does and your in then you ride the train.
Agreed.. I shouldn't say anyone that made ANY profit.. But we all know why things happened the way they did..and it wasn't technicals..
Cap
  • #62,983
  • May 6, 2010 2:17pm May 6, 2010 2:17pm
Come on now Mike, anyone swinging a LARGE trade line is going to stay out of this shit. From what I know so far is it was a software error on a fund. No curbs after 2:00pm so it went nuts. Yes you can luck out and make money here but saying you knew this move was coming is like saying "I sure know how to pick the lotto numbers" it's all luck. What if it went up 1000 points?
Keep taking CT trades, I need more money
  • #62,984
  • May 6, 2010 2:18pm May 6, 2010 2:18pm
Quoting The Captain
Agreed.. I shouldn't say anyone that made ANY profit.. But we all know why things happened the way they did..and it wasn't technicals..
yes believe me I agree. If you just start clicking buy and sell when this stuff happens your in for a world of hurt one day.
  • #62,985
  • May 6, 2010 2:18pm May 6, 2010 2:18pm
For some reason . . I think Rac had something to do with this . . .
Ka Boom! comes to mind.
Indicators show the past. Price Action "Indicates" the future.
  • #62,986
  • May 6, 2010 2:18pm May 6, 2010 2:18pm
Quoting Ryanmcd
Come on now Mike, anyone swinging a LARGE trade line is going to stay out of this shit. From what I know so far is it was a software error on a fund. No curbs after 2:00pm so it went nuts. Yes you can luck out and make money here but saying you knew this move was coming is like saying "I sure know how to pick the lotto numbers" it's all luck. What if it went up 1000 points?
this^
Cap
  • #62,987
  • May 6, 2010 2:22pm May 6, 2010 2:22pm
This crap has got to be computer programs and a rigged market.
Don't wish it were easier, wish you were better. ~ Jim Rohn
  • #62,988
  • Edited 2:48pm May 6, 2010 2:23pm | Edited 2:48pm
Quoting Ryanmcd
Come on now Mike, anyone swinging a LARGE trade line is going to stay out of this shit. From what I know so far is it was a software error on a fund. No curbs after 2:00pm so it went nuts. Yes you can luck out and make money here but saying you knew this move was coming is like saying "I sure know how to pick the lotto numbers" it's all luck. What if it went up 1000 points?
Ryan I was well in my position before mine took off here. My trade plan was firmly in place. Did I know this would explode that quick? course not lol. But it did and you react accordingly.

Ahh was just going to post only in PF but here is my trade. Did I expect this that QUICK , no way. But this was a trade that had a firm trade plan. No one knows whats going to happen at anytime. That isn't the argument. I think you should understand I am talking about understanding your trade plan.

At least that's what I did. Oh My actual order was a BV(bounds violation) and I got in 10 pips later so I should say that

(I am taking this down in a few hours though)

Mike
  • #62,989
  • May 6, 2010 2:24pm May 6, 2010 2:24pm
Quoting mbqb11
yes believe me I agree. If you just start clicking buy and sell when this stuff happens your in for a world of hurt one day.

Yes when my 3min bars are 50 pips you know it's best to stay out. Now I did call my brother when it was down 900 and told him to buy but he plays different, if your a swing trader it's best to wait for crap to clear.
Keep taking CT trades, I need more money
  • #62,990
  • May 6, 2010 2:25pm May 6, 2010 2:25pm
Quoting jarroo
For some reason . . I think Rac had something to do with this . . .
Ka Boom! comes to mind.
He farted
  • #62,991
  • May 6, 2010 2:26pm May 6, 2010 2:26pm
Quoting mbqb11
Actually technicals were still in place on plenty of things. If you just start shorting or long when you see large bars then I agree. My trade was very sound and I have made similar plays year after year. Just like if you were short usd/jpy from the DBHLC, did you know this would happen. HELL no! But if it does and your in then you ride the train.
many pairs like that . .
Attached Image (click to enlarge)
Click to Enlarge Name: gccc.gif Size: 20 KB
Indicators show the past. Price Action "Indicates" the future.
  • #62,992
  • May 6, 2010 2:27pm May 6, 2010 2:27pm
Anyone in the UK had problems with IG Index this evening? Fantastic Pin on M30 when I tried to place my order I got a message This market was not available on the trading platform!!

Great setup made 100 pips in less than a minute!!
  • #62,993
  • May 6, 2010 2:27pm May 6, 2010 2:27pm
Quoting mbqb11
He farted
And yet he still sits in the cave anyways. lol
Indicators show the past. Price Action "Indicates" the future.
  • #62,994
  • May 6, 2010 2:28pm May 6, 2010 2:28pm
Quoting jarroo
For some reason . . I think Rac had something to do with this . . .
Ka Boom! comes to mind.
I'd bet my whole account that Rac was in.

There's some major entry conditions before this happened.
Bundy's status today: "Waiting..."
  • #62,995
  • May 6, 2010 2:29pm May 6, 2010 2:29pm
Mike this video is CLASSIC haha,

It's like you are at dinner with a supermodel on the 1st date and she says, lets skip dinner and just have rough sex gggg.






p.s. Just busting your balls on the trade, I know you have a clue, what my worry is all the retards thinking that they are now Forex Jedi's after a move.
Keep taking CT trades, I need more money
  • #62,996
  • May 6, 2010 2:31pm May 6, 2010 2:31pm
The fact is this. Do you think a pinbar yesterday would have played out today? So someone saying "I took this pinbar yesterday and I made tons of cash today" means nothing. Dow hit 900points down in 30mins, gold went through the roof.. is this due to a pin bar or DBHLC on a currency pair? No. Shit exploded and fundamentals took over, wiping out any technical rule. The only way you can get action like this is to trade intraday, see it and grab it. Ex. A DBHLC or pinbar off the 15 minute as it is unfolding. Today was probably a make or break day for many people.. hopefully people here were on the good side.
Cap
  • #62,997
  • May 6, 2010 2:31pm May 6, 2010 2:31pm
Quoting Ryanmcd
Mike this video is CLASSIC haha,

It's like you are at dinner with a supermodel on the 1st date and she says, lets skip dinner and just have rough sex gggg.






p.s. Just busting your balls on the trade, I know you have a clue, what my worry is all the retards thinking that they are now Forex Jedi's after a move.
hahaha,

yes of course. And I agree. If you just jump in b/c you see big bars. You are eventually dead in the water and you have zero chance. IMO you had a trade plan going into today like ANY other day or your are clueless. It's just gambling any other way.

back to my 5 min charts
  • #62,998
  • May 6, 2010 2:33pm May 6, 2010 2:33pm
Quoting shauns1966
Anyone in the UK had problems with IG Index this evening? Fantastic Pin on M30 when I tried to place my order I got a message This market was not available on the trading platform!!

Great setup made 100 pips in less than a minute!!
That's SB platforms for you!!!

When the market is moving fast like that they pull the plug!

I had enough problems on my MT4 accounts with re-quotes when trying to close shorts.
  • #62,999
  • May 6, 2010 2:34pm May 6, 2010 2:34pm
Quoting bundyraider
I'd bet my whole account that Rac was in.

There's some major entry conditions before this happened.
anytime the xxx/jpy are falling to their deaths rac is in, no doubt about it
  • #63,000
  • May 6, 2010 2:36pm May 6, 2010 2:36pm
Quoting mbqb11
hahaha,

yes of course. And I agree. If you just jump in b/c you see big bars. You are eventually dead in the water and you have zero chance. IMO you had a trade plan going into today like ANY other day or your are clueless. It's just gambling any other way.

back to my 5 min charts

haha 5min good stuff
Keep taking CT trades, I need more money
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