Aaron 37 is doing wonders for your wisdom
james16 Chart Thread
- #65,483
- Edited 10:30pm Jun 3, 2010 10:13pm | Edited 10:30pm
- Joined May 2010 | Status: HCR-LCS SFP | 6,026 Posts
Your home work assignment Pb is to review your demo order as it related to the James16's "This is Critical."
Would you have done something different? Did it help in any way?...
Morning Jarroo
Yes, well eh
I have a Kamikaze buy stop with a 120 pip SL, right around the area I would be thinking of taking TP1 & BE had I taken the IB on the daily.
This one has to go in my journal. It shows how PA is really a double edged sword and getting so involved with a single PA candle can blind us from seeing what is going on around it.
- #65,484
- Jun 3, 2010 10:18pm Jun 3, 2010 10:18pm
- Joined May 2010 | Status: HCR-LCS SFP | 6,026 Posts
As always, amazing stuff Aaron. You have a way of articulating deep thoughts and complex concepts in a simple, straightforward and honest way that most of us could never dream of matching.
And we get it for free.
I'm glad you said that. It always spins me around when people say they spent 16 hours a day straight for a month 'studying charts'... yet they still lose. You are either exagerating, inefficient or just not cut out for trading.
Or a combination thereof.
It's like me spending 20 hours a day for the next fortnight reading...
Yeah , Joel.....Tell me about it....I have done that for the last two years.Combined with trading every M5 & m15 system I could find, while delving into my indicator box with over 1,000 indicators in it.
Nah, this indicator is not the holy grail, but maybe number 997 is, no, well they might work with another system.
And just look at the trade I made above.
Hi,
I just wanted to say Hi, and thanks to Jim and the rest of the people here. I've been following the thread for a while after discovering it from the sticky in the Rookie Discussion forum, been through the guest material on the james16 group site, and attempting to apply it to my charts.
I'm still trying to find my feet, haven't figured some things such as position sizing properly yet, but I'm slightly over break even since starting to follow this (in demo of course
) thanks to James' no nonsense approach to demonstrating horizontal support and resistance lines in his videos.
I'm usually a lurker, but this thread is solid gold, and everyone is so damn helpful, I'm sure taking part will help my trading no end.
Thanks all!
I just wanted to say Hi, and thanks to Jim and the rest of the people here. I've been following the thread for a while after discovering it from the sticky in the Rookie Discussion forum, been through the guest material on the james16 group site, and attempting to apply it to my charts.
I'm still trying to find my feet, haven't figured some things such as position sizing properly yet, but I'm slightly over break even since starting to follow this (in demo of course
) thanks to James' no nonsense approach to demonstrating horizontal support and resistance lines in his videos.I'm usually a lurker, but this thread is solid gold, and everyone is so damn helpful, I'm sure taking part will help my trading no end.
Thanks all!
- #65,486
- Jun 3, 2010 10:42pm Jun 3, 2010 10:42pm
Yeah , Joel.....Tell me about it....I have done that for the last two years.Combined with trading every M5 & m15 system I could find, while delving into my indicator box with over 1,000 indicators in it.
Nah, this indicator is not the holy grail, but maybe number 997 is, no, well they might work with another system.
When you have to shoot, shoot. Dont talk.
- #65,488
- Jun 3, 2010 11:36pm Jun 3, 2010 11:36pm
Morning Jarroo
Yes, well eh
I have a Kamikaze buy stop with a 120 pip SL, right around the area I would be thinking of taking TP1 & BE had I taken the IB on the daily.
This one has to go in my journal. It shows how PA is really a double edged sword and getting so involved with a single PA candle can blind us from seeing what is going on around it.
- #65,490
- Edited Jun 4, 2010 12:32am Jun 3, 2010 11:56pm | Edited Jun 4, 2010 12:32am
- Joined Sep 2005 | Status: J16 Senior Member | 13,635 Posts
cool,
is it because of the big BUB bar that determines the bullish sentiment here, bro?
jeurre
Notice the Daily IB was a stand alone setup that closed above the .6800.
Its was to illustrate that a PA setup is given supportive strength when the bar Close is above the PPZ level. Its not a trade breaker if it doesn't close above/below but it is preferred.
Indicators show the past. Price Action "Indicates" the future.
- #65,491
- Jun 3, 2010 11:59pm Jun 3, 2010 11:59pm
- | Commercial User | Joined Aug 2006 | 12,004 Posts
already talked about one of my fav setups this week, could we see another one of them. The squeeze
I'll be watching and waiting like usual
Mike
I'll be watching and waiting like usual
Mike
- #65,492
- Edited 2:06am Jun 4, 2010 12:12am | Edited 2:06am
- Joined Sep 2005 | Status: J16 Senior Member | 13,635 Posts
Morning Jarroo
Yes, well eh
I have a Kamikaze buy stop with a 120 pip SL, right around the area I would be thinking of taking TP1 & BE had I taken the IB on the daily.
This one has to go in my journal. It shows how PA is really a double edged sword and getting so involved with a single PA candle can blind us from seeing what is going on around it.
What about the other choices? How would they play out?
THIS IS CRITICAL.
WE MUST LEARN TO:
1. notice a strong s/r area just beyond our pa if it exists.
2. know that if we trade into it we had better be prepared for a quick reversal that could give us a loss if we are not prepared.
if we know its there we have several choices.
1. get out when it gets there for a small profit.
2. take a small partial profit and move the remainder to BE.
3. stay in with your total position hoping for a break and move your stop to BE.
4. Dont enter until the level has been broken.
Indicators show the past. Price Action "Indicates" the future.
- #65,494
- Jun 4, 2010 12:21am Jun 4, 2010 12:21am
- Joined Sep 2005 | Status: J16 Senior Member | 13,635 Posts
Well, apart from the BOLD type, I already figured that it would have been better to trade this a breakout at or around the 0.7000.
Will get to the other choices, when I get back.
Cool Pb.
Indicators show the past. Price Action "Indicates" the future.
- #65,495
- Jun 4, 2010 12:23am Jun 4, 2010 12:23am
- Joined Sep 2005 | Status: J16 Senior Member | 13,635 Posts
Hi,
I just wanted to say Hi, and thanks to Jim and the rest of the people here. I've been following the thread for a while after discovering it from the sticky in the Rookie Discussion forum, been through the guest material on the james16 group site, and attempting to apply it to my charts.
I'm still trying to find my feet, haven't figured some things such as position sizing properly yet, but I'm slightly over break even since starting to follow this (in demo of course
Welcome cheeseweasel. I don't think I've seen that user name before. lol
Indicators show the past. Price Action "Indicates" the future.
- #65,496
- Jun 4, 2010 12:29am Jun 4, 2010 12:29am
- Joined Sep 2005 | Status: J16 Senior Member | 13,635 Posts
Clearly, the holy grail is to build a system which combines indicators 4, 8, 15, 16, 23 and 42
Indicators show the past. Price Action "Indicates" the future.
nice multiple bar analysis, eye openning, great job 
Yes and no. Its the BUB, yes, but the BUB is part of the PA setup . .the Weekly PB. Its not just a random bar at a PPZ level. Its preferably a high quality PA setup Bar that closes above the PPZ or strong confluenced level. Meaning, it would have be better it the Weekly PB's Close was above the PPZ level, .6800.
Notice the Daily IB was a stand alone setup that closed above the .6800.
Its was to illustrate that a PA setup is given supportive strength when the bar Close is above the PPZ level. Its not a trade breaker if it doesn't close above/below...
- #65,498
- Jun 4, 2010 1:34am Jun 4, 2010 1:34am
- Joined Sep 2005 | Status: J16 Senior Member | 13,635 Posts
nice multiple bar analysis, eye openning, great job
It is interesting to look at non-PA setup bars that closes above/below a given PPZ level and/or BRN.
Example, Price breaks through a level then breaks through it again . . and then take an entry at the High(or Low) of the bar that closed above (or below) that level.
If I'm making sense.
Indicators show the past. Price Action "Indicates" the future.
- #65,499
- Jun 4, 2010 2:05am Jun 4, 2010 2:05am
- Joined Feb 2008 | Status: sucker for punishment | 2,444 Posts
already talked about one of my fav setups this week, could we see another one of them. The squeeze
I'll be watching and waiting like usual
Mike
cheers
jon
PATIENCE... DISCIPLINE
more than making sense, jarroo, as long as jarroo says it, i take it as part of my bible, serious ! coz it makes money, period, paragraph
how much weight this style plays in your recent tradings? i guess it is situational depandent ? or would you mostly follow through this approach in future? thanks
jeurre
how much weight this style plays in your recent tradings? i guess it is situational depandent ? or would you mostly follow through this approach in future? thanks
jeurre
Thanks jeurre.
It is interesting to look at non-PA setup bars that closes above/below a given PPZ level and/or BRN.
Example, Price breaks through a level then breaks through it again . . and then take an entry at the High(or Low) of the bar that closed above (or below) that level.
If I'm making sense.