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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

  • #67,501
  • Jun 26, 2010 8:08pm Jun 26, 2010 8:08pm
Quoting jarroo
Pb . .

Let's say you have two novice traders entering a trade at the same time, same pair. One enters long and the other enters short. Which one is profitable?
Answer: Neither is profitable.

You have two professional traders in the same scenario. One enters long and the other enters short. Which one is profitable?
Indicators show the past. Price Action "Indicates" the future.
  • #67,502
  • Edited Jun 27, 2010 2:44am Jun 26, 2010 8:09pm | Edited Jun 27, 2010 2:44am
Quoting jarroo
Answer: Neither is profitable.

You have two professional traders in the same scenario. One enters long and the other enters short. Which one is profitable?

Answer: Both are profitable.

How can this be so? The answers is simple: The Exits.

Many traders concentrate on where to enter and when to enter a trade, as well they should do and practise. But more time should be spent on where and when to exit a trade. Because that's where we make the money or lose it. This is where our clear targets and break even trades come into play.
Indicators show the past. Price Action "Indicates" the future.
  • #67,503
  • Jun 26, 2010 8:12pm Jun 26, 2010 8:12pm
Quoting jarroo
Answer: Neither is profitable.

You have two professional traders in the same scenario. One enters long and the other enters short. Which one is profitable?
The one that exits while they are in profit, despite the drawdown.
  • #67,504
  • Jun 26, 2010 8:12pm Jun 26, 2010 8:12pm
Bye for now.


Jim
Indicators show the past. Price Action "Indicates" the future.
  • #67,505
  • Jun 26, 2010 8:13pm Jun 26, 2010 8:13pm
This reminds me of Jacko's anti hedging scenario.
  • #67,506
  • Jun 26, 2010 10:42pm Jun 26, 2010 10:42pm
Quoting Pinbar
This reminds me of Jacko's anti hedging scenario.
PB, on the topic of the anti-hedging strategy, would you use the AH strategy if you're entry is running right into a trouble area? E.g we enter at 1.2300 and there is a strong PPZ and 50% fib at 1.2350? This is the obvious fault with the strategy IMO.
  • #67,507
  • Jun 26, 2010 11:57pm Jun 26, 2010 11:57pm
Quoting forexben
PB, on the topic of the anti-hedging strategy, would you use the AH strategy if you're entry is running right into a trouble area? E.g we enter at 1.2300 and there is a strong PPZ and 50% fib at 1.2350? This is the obvious fault with the strategy IMO.

Well, I can understand what you are saying, that said the AH strategy is not used until you are at least 100 pips in the wrong direction and possibly even more.

I have used it once on my live account when I made a bad trade and PA went against me for 150 pips with no SL.
Perhaps I was lucky but I got out of that minus trade with 80 positive pips.

Basically, I was just thinking about what Jarroo had mentioned that the exit is where a trade is made or broken, and am in no way recomending anyone just make random trades and then wait till PA picks them up again.
  • #67,508
  • Edited 9:13am Jun 27, 2010 1:50am | Edited 9:13am
Hey all, does anyone know if there is a mt4 feed that the daily candle changes around or before the London open?
  • #67,509
  • Edited 8:09am Jun 27, 2010 6:37am | Edited 8:09am
Hey Ghous . . . you gotta like this IPB (G-Bar) on the Weekly Nzd/Usd.
Wedge breakout / pullback with PA (I consider it PA) and there's bit of PPZ at the .7150. IPB on many feeds.

Should be fun to watch.
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Indicators show the past. Price Action "Indicates" the future.
  • #67,510
  • Jun 27, 2010 6:45am Jun 27, 2010 6:45am
Quoting jarroo
Care for a little touch trade on the .7000 retest or retrace, Mr. Mike?

Mike, you remember this?

Why does all this good stuff happen on Fridays? Damn . .lol
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Indicators show the past. Price Action "Indicates" the future.
  • #67,511
  • Jun 27, 2010 6:59am Jun 27, 2010 6:59am
Hey all, hope you have good time wherever in the world you are right now

I practiced by scrolling charts and found this good example. (Cool move)

There we have powerful bullish trend and a pinbar. Then we think, is the size enough? Has this bar any chance fighting against that trend?

What do you guys think? I would love to hear your thoughts.

(I know you want to see PPZs etc. first while they are the most important thing in this business, but just the size now )

Happy trading, happy living
Nuc
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  • #67,512
  • Edited 7:31am Jun 27, 2010 7:19am | Edited 7:31am
Quoting nuclear62
Hey all, hope you have good time wherever in the world you are right now

I practiced by scrolling charts and found this good example. (Cool move)

There we have powerful bullish trend and a pinbar. Then we think, is the size enough? Has this bar any chance fighting against that trend?

What do you guys think? I would love to hear your thoughts.

(I know you want to see PPZs etc. first while they are the most important thing in this business, but just the size now )

Happy trading, happy living
Nuc

Looks like the chart already gave the answer, Nuc. The small PB, (small in size compared to the powerful trend and previous bars) barely broke downward hitting the previous high. And then Price broke its High which is now considered a falied PB and no longer valid. We need a Bigger PB to counter that uptrend and other confluences like a strong PPZ level, etc.
Indicators show the past. Price Action "Indicates" the future.
  • #67,513
  • Jun 27, 2010 8:39am Jun 27, 2010 8:39am
Quoting jarroo
Mike, you remember this?

Why does all this good stuff happen on Fridays? Damn . .lol
of course

I got in this
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  • #67,514
  • Jun 27, 2010 8:41am Jun 27, 2010 8:41am
Quoting jarroo
Looks like the chart already gave the answer, Nuc. The small PB, (small in size compared to the powerful trend and previous bars) barely broke downward hitting the previous high. And then Price broke its High which is now considered a falied PB and no longer valid. We need a Bigger PB to counter that uptrend and other confluences like a strong PPZ level, etc.
also just an additional note for ya nuc for some who play bars like me. If the next bar doesn't break I take it as a lack of momentum and cancel my order. Again that is what I do many will leave their orders.

Best
Mike
  • #67,515
  • Jun 27, 2010 11:04am Jun 27, 2010 11:04am
  •  aorta
  • | Joined Nov 2009 | Status: The Land of Golden Soil | 9 Posts
Namaste everybody!

I am a silent reader of this golden Hen thread and now wants to break the ice.
you people have given so much here that I dont have any words. Esp. James,Jarroo, Mbqb, Mike W, S.C.you derseve more than V, I think the 10SV+
super vouches.

Sincerely want to thank you and others , now I am able to make 5 to 8 % a month stress free and with huge funds, that is more than enough for me and my organisation without any stress. I will drop the chart or trades as and when time allows me. This thread is the only I have seen to be much genuine and worth.

God bless

S
  • #67,516
  • Jun 27, 2010 1:03pm Jun 27, 2010 1:03pm
Quoting Pipage
Im planning on going long on AUD/CHF. 23.6% retracement, Nice round number 0.9500. Got a bit of a squeeze going on.
Views appreciated.

Pipage
Hey Pipage, I think it's tradable because location is not too bad with the BRN and some space. PB size is respectable too IMO but then again who knows what Sunday bar brings as it can give us gaps in the weekly transition. Will watch this myself


CY
  • #67,517
  • Jun 27, 2010 1:57pm Jun 27, 2010 1:57pm
Quoting jarroo
Hey Ghous . . . you gotta like this IPB (G-Bar) on the Weekly Nzd/Usd.
Wedge breakout / pullback with PA (I consider it PA) and there's bit of PPZ at the .7150. IPB on many feeds.

Should be fun to watch.
uhh...tough call for me, honestly speaking I really have dug in trying to decipher the dynamics of the system I have been working on, a lot of trade decisions and thought processes some of which I dispel here at the thread are engineered one way or the other with the methods of this new system.

I see and understand well, all the pluses you point out Jarroo, just something here will still hold me from pulling the trigger on this.

In recent time I have really been keen on placing bets on setups that IMO synchronize with the on going and preceding price action particularly around the 2 EMAs that I use.

For example on the Nu I don't like how price was nicely up trending then pulled back to the 0.66 gave off a buob then looks to continue with the trend, furthermore the constriction of the 2 EMAs round about where the IPB low goes is also of some discomfort for me.

Don't take me wrong, I am obviously not dumping the Nu IPB just that it lacks the "finishing touch" which would match the conservatism that I use to trade IPBs and allow me to pull the trigger.

I'd be happier than ever to see Monday go on and test the IPB low.



g.
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I believe . . .
  • #67,518
  • Jun 27, 2010 2:04pm Jun 27, 2010 2:04pm
Quoting aorta
Namaste everybody!

I am a silent reader of this golden Hen thread and now wants to break the ice.
you people have given so much here that I dont have any words. Esp. James,Jarroo, Mbqb, Mike W, S.C.you derseve more than V, I think the 10SV+
super vouches.

Sincerely want to thank you and others , now I am able to make 5 to 8 % a month stress free and with huge funds, that is more than enough for me and my organisation without any stress. I will drop the chart or trades as and when time allows me. This thread is the only I have seen...
Wonderful!

The statement:...

Quote
w I am able to make 5 to 8 % a month stress free and with huge funds

...just made my day.

Welcome to the group!

g.
I believe . . .
  • #67,519
  • Jun 27, 2010 5:10pm Jun 27, 2010 5:10pm
Quoting aorta
Namaste everybody!

I am a silent reader of this golden Hen thread and now wants to break the ice.
you people have given so much here that I dont have any words. Esp. James,Jarroo, Mbqb, Mike W, S.C.you derseve more than V, I think the 10SV+
super vouches.

Sincerely want to thank you and others , now I am able to make 5 to 8 % a month stress free and with huge funds, that is more than enough for me and my organisation without any stress. I will drop the chart or trades as and when time allows me. This thread is the only I have seen...
Welcome from the shadows S

Great to hear your success !
  • #67,520
  • Jun 27, 2010 7:31pm Jun 27, 2010 7:31pm
I was looking at this CAD/JPY Daily IB43 bar..Yes, it is the smallest bar in the last 43 bars. Seems to be at a swing low. The cons are the weekly BEOB and the sideways market.

Might be ok if it breaks low.
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