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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

  • #65,401
  • Jun 2, 2010 10:11pm Jun 2, 2010 10:11pm
Quoting Pinbar
Demo Order in place.

I like it PB. Let's see how it works out.
Indicators show the past. Price Action "Indicates" the future.
  • #65,402
  • Jun 2, 2010 10:12pm Jun 2, 2010 10:12pm
Quoting jarroo
I like it PB. Let's see how it works out.


Many thanks Jarroo.

I guess you already figured I was just watching these Daily & Weekly charts and going, Fizzzz (*&($&^%@^%@ Pop%$E%@)(*$@ Woooooooooooooooo!

Because of the lack of setups, I may now be watching too many pairs and once again spreading myself thin.
  • #65,403
  • Jun 2, 2010 10:20pm Jun 2, 2010 10:20pm
Quoting Pinbar
Many thanks Jarroo.

I guess you already figured I was just watching these Daily charts and going, Fizzzz (*&($&^%@^%@ Pop%$E%@)(*$@ Woooooooooooooooo!

I understand PB. lol

The more you practise in real time the better you become. The better you become the more confidence you have. Continue pouring over James16's charts, Mike's charts, even failed charts of others. Look at as many pairs as you can. In the end, only you will be able to tell if a setup fits your style or not.

Just keep at it my friend . .you'll get there.
Indicators show the past. Price Action "Indicates" the future.
  • #65,404
  • Jun 2, 2010 10:55pm Jun 2, 2010 10:55pm
Quoting Donkey
Short (demo) on this daily pin at 1.693 with a stop loss at 1.712, first take profit at 1.683.
Not a bad size PB. Previous Daily Highs are keeping it up.

Interesting entry, was it on a lower time frame? Nice looking 4 hour BEOB off the 1.7000.
Attached Image(s) (click to enlarge)
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Indicators show the past. Price Action "Indicates" the future.
  • #65,405
  • Jun 2, 2010 10:57pm Jun 2, 2010 10:57pm
Quoting jarroo
I understand PB. lol

The more you practise in real time the better you become. The better you become the more confidence you have. Continue pouring over James16's charts, Mike's charts, even failed charts of others. Look at as many pairs as you can. In the end, only you will be able to tell if a setup fits your style or not.

Just keep at it my friend . .you'll get there.

I am getting more interested in the daily and how James does not seem to draw PPZ lines all over the place. This is giving me the idea that on longer TF, the PPZ will be in much closer proximity or at least bar highs and lows may be.
I also like the manner in which he is projecting possible targets of PA.

Yes, this is the way to go.
  • #65,406
  • Jun 2, 2010 11:05pm Jun 2, 2010 11:05pm
Quoting Pinbar
I am getting more interested in the daily and how James does not seem to draw PPZ lines all over the place. This is giving me the idea that on longer TF, the PPZ will be in much closer proximity or at least bar highs and lows may be.
I also like the manner in which he is projecting possible targets of PA.

Yes, this is the way to go.
He's been doing it for a long time. He has been where we have been, probable worst then us. So how he goes about trading is a good thing to watch and learn from.
Indicators show the past. Price Action "Indicates" the future.
  • #65,407
  • Jun 2, 2010 11:10pm Jun 2, 2010 11:10pm
Quoting jarroo
He's been doing it for a long time. He has been where we have been, probable worst then us. So how he goes about trading is a good thing to watch and learn from.
yeah and to add to this. I think the more you do it, you just see it. You don't need the line there, or the fib there to see 50% of a move, or anything else really. I only put lines up now to post charts really. You just see it and learn it like you would anything else that takes practice. How much practice can vary GREATLY

So just keep at it
  • #65,408
  • Jun 2, 2010 11:14pm Jun 2, 2010 11:14pm
Quoting mbqb11
yeah and to add to this. I think the more you do it, you just see it. You don't need the line there, or the fib there to see 50% of a move, or anything else really. I only put lines up now to post charts really. You just see it and learn it like you would anything else that takes practice. How much practice can vary GREATLY

So just keep at it
Yes, "Just Keep at It" is the deal.
There are no shorts to rewiring our minds to see these things.

Mike, it is hard to even imagine that you, Jarroo, Bundy, Bemac and others, ever had a hard time in learning to trade.
  • #65,409
  • Jun 2, 2010 11:19pm Jun 2, 2010 11:19pm
Quoting Pinbar
Yes, "Just Keep at It" is the deal.
There are no shorts to rewiring our minds to see these things.

Mike, it is hard to even imagine that you, Jarroo, Bundy, Bemac and others, ever had a hard time in learning to trade.
Having a hard time here! I'm 27 and wondering what's my forex status when I hit 37. Not giving up. Not giving up. Not giving up.
  • #65,410
  • Jun 2, 2010 11:24pm Jun 2, 2010 11:24pm
Quoting Pinbar
Yes, "Just Keep at It" is the deal.
There are no shorts to rewiring our minds to see these things.

Mike, it is hard to even imagine that you, Jarroo, Bundy, Bemac and others, ever had a hard time in learning to trade.
believe me I don't know anyone whos made it that didn't shed some tears along the way. Or at least think about quitting multiple times. The more I get beat up the harder I come back at something. Now the one thing you have to realize is that just b/c you put in the time doesn't mean you will automatically get it. You have to learn from your mistakes, and realize where your flaws are as a person that are translating into your trading as well. Poker was a big bonus for my outlook for me. But I am sure other things translate as well for people and it is good to try to find those links. It's a hell of a tough business to learn, but much more simplistic on the look back.

For those that want it to happen NOW, your chances are about as slim as it gets. You have to just put things into perspective and say I am here for the long haul.

Ups and downs are sure part of it though and I everyone I know has them. They make you better.

Lastly. It is the journey. I believe that about everything. The journey is what we look back on as the best part of everything in life.

Mike
  • #65,411
  • Jun 2, 2010 11:27pm Jun 2, 2010 11:27pm
fxeturn,
i'm 28. several here are +/-20y.o. (Sir mbqb11's turning 27 by December; benji533, ghous & nasir.khan are a little younger)

if u dont quit, success is inevitable. ---supremeChaos
  • #65,412
  • Jun 2, 2010 11:29pm Jun 2, 2010 11:29pm
Quoting fxeturn
Having a hard time here! I'm 27 and wondering what's my forex status when I hit 37. Not giving up. Not giving up. Not giving up.
Perseverance is a must in this business especailly in the beginning.
Patience is another must. Waiting for the best setup to trade. Then Practise . . Practise . . Practise .
Indicators show the past. Price Action "Indicates" the future.
  • #65,413
  • Jun 2, 2010 11:31pm Jun 2, 2010 11:31pm
Quoting fxeturn
Having a hard time here! I'm 27 and wondering what's my forex status when I hit 37. Not giving up. Not giving up. Not giving up.
27 is crazy young, don't be thrown off by some of these 18 year olds we got around here even though they are superstars

Honestly it just needs to be a fire in you. I don't want to sound corny or lame. But if you have that fire to succeed it doesn't matter your age. Just do what James says, have a long term outlook and really give yourselves the best chance at succeeding.

At least it is what I believe
Mike
  • #65,414
  • Jun 2, 2010 11:31pm Jun 2, 2010 11:31pm
Quoting mbqb11
believe me I don't know anyone whos made it that didn't shed some tears along the way. Or at least think about quitting multiple times. The more I get beat up the harder I come back at something. Now the one thing you have to realize is that just b/c you put in the time doesn't mean you will automatically get it. You have to learn from your mistakes, and realize where your flaws are as a person that are translating into your trading as well. Poker was a big bonus for my outlook for me. But I am sure other things translate as well for people and...
Forget what I was going to post . . I'll just copy this one.
Indicators show the past. Price Action "Indicates" the future.
  • #65,415
  • Jun 2, 2010 11:32pm Jun 2, 2010 11:32pm
Quoting supremeChaos
fxeturn,
i'm 28. several here are +/-20y.o. (Sir mbqb11's turning 27 by December)

if u dont quit, success is inevitable. ---supremeChaos
the only thing age is doing is stealing my hair, everything else I feel young as ever
  • #65,416
  • Edited 11:43pm Jun 2, 2010 11:38pm | Edited 11:43pm
Quoting fxeturn
Having a hard time here! I'm 27 and wondering what's my forex status when I hit 37. Not giving up. Not giving up. Not giving up.
Fxeturn,

Age is with you my friend. You have 23years of head start in comparison to me. With a starting capital of 10000 and 2 percent monthly return compounded monthly, you are looking at USD 1.15 million after 20 years i.e before you turn 50. Iam at USD 10000 but still a believer of slow and steady path towards my retirement biz plan. I want to trade forex profitably consistently by the age of 55. That gives me 5 years to practice demo/ micro accounts, out of which I have already wasted 6 months on other Forums. However, I believe it is never too late.

Cheers
Novice198
PS as an older person (or lets say more experienced in life) I should have patience to wait for the Trades, the reality is that it is very difficult to sit with your hands tucked under your bottom. At least I have stopped trading live after winning 25% in three months and giving back 20 % in a fortnight, though I am still sitting on 5% gain. I will demo the J 16 PA set ups till it is mechanical to me.
Perfect Practice and not Practice makes all the difference
  • #65,417
  • Jun 2, 2010 11:40pm Jun 2, 2010 11:40pm
mbqb11,
u just need to increase exercise, & decrease beer intake
i know u feel young, it is evident in your (timeless) avatar
  • #65,418
  • Jun 2, 2010 11:43pm Jun 2, 2010 11:43pm
Quoting fxeturn
Having a hard time here! I'm 27 and wondering what's my forex status when I hit 37. Not giving up. Not giving up. Not giving up.
Compared to other forums, there is definitely a skew towards the younger generation here. Well, that and scammers. Probably something to do with the nature of the instrument. Look at any stock forum, and it will be ~90% baby boomers who read some 'Daytrading for Dummies' book, backtested their MA cross system during the tech boom and then assume they are winning traders (if only those damn brokers would quit hunting their stops, they would be millionaires!)

I took my first fx trade here at 29... at 27, you are practically a teenager...and by 37, you will either be successful or have given up 9 years ago

(assuming Ben, Nasir and Ghous leave any money for the rest of us)

Quoting supremeChaos
mbqb11,
u just need to increase exercise, & decrease beer intake
That is terrible advice!
When you have to shoot, shoot. Dont talk.
  • #65,419
  • Jun 2, 2010 11:45pm Jun 2, 2010 11:45pm
Quoting supremeChaos
fxeturn,
i'm 28. several here are +/-20y.o. (Sir mbqb11's turning 27 by December; benji533, ghous & nasir.khan are a little younger)

if u dont quit, success is inevitable. ---supremeChaos
People define 'success' differently I think. For me, financial success doesn't need a Ferrari, a yacht or a lot in Beverly Hills, but to be able to live off trading/passive income comfortably. The time saved from having to work a 9-5 can do wonders to relationships and hobbies. We're already spending 1/3 of our life sleeping, and spending another 1/3 of my life working just so someone else could be rich isn't in my long-term life plan.
  • #65,420
  • Jun 2, 2010 11:51pm Jun 2, 2010 11:51pm
Quoting supremeChaos
mbqb11,
u just need to increase exercise, & decrease beer intake
i know u feel young, it is evident in your (timeless) avatar
lol exercise plenty, beer intake is not changing LOL
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