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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

  • #68,361
  • Jul 11, 2010 5:12pm Jul 11, 2010 5:12pm
Quoting cprao
Great !! Very good.
One quick question though:

why reducing 1/2 after consecutive wins ?
Quote
Trading Rules (part 1) :

Do not take ANY trades without going through the checklist
Do not take ANY trades on a whim to catch a market move
After 2 straight losses reduce position size by ½
After 4 straight wins reduce position size by ½
Never move stops further back – if a trade idea is wrong, accept it take the loss and move on.
Document every trade
Review the journal every weekend
Only add money to the account after a winning month
You are in this to build wealth and freedom –...

SC, pl see the highlighted one.
  • #68,362
  • Jul 11, 2010 5:16pm Jul 11, 2010 5:16pm
Hello djmartymac,
i knew someone would raise this question.

it is just a metaphor, a comparison of sorts.
it depends on the perspective of a person looking at trading; therefore, each person's view about trading maybe unique.

i personally see trading as a business, challenge, game/sport.
  • #68,363
  • Edited 6:16pm Jul 11, 2010 5:16pm | Edited 6:16pm
Quoting cprao
SC, pl see the highlighted one.
i see, ddinov's post seem to have been edited.


EDIT:

after about an hour....saw it... somehow, i overlooked it... i'm still , it's only 7.15am (time of this edit), lol
  • #68,364
  • Jul 11, 2010 5:34pm Jul 11, 2010 5:34pm
Quoting Adilius07
Sorry for the supid question, but how do you make a rectangle color filled like this in MT4? Mine would always be transparent and not help much to highlight the area...

Quoting supremeChaos
right click on the rectangle, go to the rectangle's properties.
on the Common tab, put a check on "Draw object as background"


for anyone else learning about MT4 usage, go to "Help" by pressing the F1 key on your keyboard. the MT4 Help Guide has its own search tool (just like what we have here on FF), use it as much as necessary.

With a black background, I used the Blue Style in the Rectangle tool.
Attached Image (click to enlarge)
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Indicators show the past. Price Action "Indicates" the future.
  • #68,365
  • Jul 11, 2010 5:38pm Jul 11, 2010 5:38pm
Quoting jarroo
With a black background, I used the Blue Style in the Rectangle tool.
Jarroo, thank you!!! Got it. Yes, had to change backgroud to black (it was white by default for some reason) Cool, all is perfect now, thanks!
  • #68,366
  • Jul 11, 2010 5:58pm Jul 11, 2010 5:58pm
Quoting ghous
I didn't play this. You could say I missed it.

You play these at the close of the IPB with SL few pips beyond the shorter wick and TP just before the longer wick high/low.

Search through my posts with the keyword "IPB introduction"

But before you do that make sure you've read and understood the disclaimer in my sig.

g.

I didn't play it either or missed it lol. The size compared to the strong recent move down was probable the only thing that would have stopped me on this one. But wow you got to love the confluenced support. Yet it still hit its target which lined up nicely with the previous bar low.

Gotta love them G-bars.


Jim
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Indicators show the past. Price Action "Indicates" the future.
  • #68,367
  • Jul 11, 2010 6:01pm Jul 11, 2010 6:01pm
Quoting ghous
Saw you down there, and smiled as I posted that pic...trading's really making me get good at predicting things (maybe not the charts as much), that smile was because I knew something like this was coming

lol
lol
Indicators show the past. Price Action "Indicates" the future.
  • #68,368
  • Jul 11, 2010 6:35pm Jul 11, 2010 6:35pm
Quoting supremeChaos
Hello djmartymac,
i knew someone would raise this question.

it is just a metaphor, a comparison of sorts.
it depends on the perspective of a person looking at trading; therefore, each person's view about trading maybe unique.

i personally see trading as a business, challenge, game/sport.
Yeah I see what you mean, different strokes for different folks. Thanks mate it was just a thought. I'm still in pre season training for the game but ready to go for the long haul
  • #68,369
  • Jul 11, 2010 6:48pm Jul 11, 2010 6:48pm
Quoting Bemac
That's no Lace laddie. That's ma Sporren.
(actor protrayal)
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Indicators show the past. Price Action "Indicates" the future.
  • #68,370
  • Jul 11, 2010 7:17pm Jul 11, 2010 7:17pm
hahahah...
based on his feet position:nerd:, this H&S looks not so bearish at all.
he seem to be climbing up, then took a break by looking over the horizon/savoring the great view..
  • #68,371
  • Edited 10:41pm Jul 11, 2010 8:11pm | Edited 10:41pm
hey guys i came across the thread for the cornflower system the other day so thought id try it out this week ,first trade tonight entry e/u 12644 short exit 12609 for 30+ whoo hoo sorry i couldnt post on entry had to watch intently hope this sets the trend for me from here on in .P.S had i held on a little longer letting it run or getting back in at 72ema bounce there was a further 20+ have to remmember to remain focused when the trade is on ;0D
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  • #68,372
  • Jul 11, 2010 8:19pm Jul 11, 2010 8:19pm
Quoting jarroo
(actor protrayal)
Close if it was a 30 year old pic of me but not now I'm afraid.

Wrong Tartan though.

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  • #68,373
  • Jul 11, 2010 8:56pm Jul 11, 2010 8:56pm
Quoting Bemac
Close if it was a 30 year old pic of me but not now I'm afraid.

Wrong Tartan though.

Attachment
Attachment


Why has this guy got Haggis hanging from his sporran?

At least, I hope it is haggis and not, his enemy's family jewels. LOL

Bebac, what clan is your tartan?
  • #68,374
  • Jul 11, 2010 9:16pm Jul 11, 2010 9:16pm
Quoting Bemac
Close if it was a 30 year old pic of me but not now I'm afraid.

Wrong Tartan though.


lol
Indicators show the past. Price Action "Indicates" the future.
  • #68,375
  • Edited 9:51pm Jul 11, 2010 9:21pm | Edited 9:51pm
Quoting Pinbar
...what clan is your tartan?
Clan: Anderson.

Motto: Stand Sure.

ANDERSON or ANDREWSON simply means son of Andrew, St. Andrew being our patron saint.

The background of my avatar is St. Andrews Cross
Attached Image


The Foreground is Robert The Bruce. {Bravehearts Boss}
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Robert the bruce is attributed the saying;
"If at first you don't succeed, Try, Try & Try again."

Monarch of the Glen by Sir Edwin Henry Landseer

Attached Image

An aspiration.
  • #68,376
  • Jul 11, 2010 9:24pm Jul 11, 2010 9:24pm
Quoting supremeChaos
hahahah...
based on his feet position:nerd:, this H&S looks not so bearish at all.
he seem to be climbing up, then took a break by looking over the horizon/savoring the great view..

Hey sChaos. Check out this I39B on the Monthly Gbp/Jpy.
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Indicators show the past. Price Action "Indicates" the future.
  • #68,377
  • Jul 11, 2010 9:33pm Jul 11, 2010 9:33pm
ok Sir Bemac,
since we are at it,
what is that in the foreground of your avatar?
& wha't "Monarch o the Glen"?
(i can do a Google search but i prefer your personal response instead)

EDIT
wow, your above post edit was prophetic
  • #68,378
  • Jul 11, 2010 9:46pm Jul 11, 2010 9:46pm
Quoting jarroo
Hey sChaos. Check out this I39B on the Monthly Gbp/Jpy.
just to be clear, that post has nothing to do about trading, heheh lol

anyway, interesting gbpjpy monthly chart, Jim.
late May & whole June has been rangy (summer-led consolidation perhaps..).
so, let's see what July & August brings. (breakout Sir? hehe)
  • #68,379
  • Jul 11, 2010 9:53pm Jul 11, 2010 9:53pm
Quoting supremeChaos
just to be clear, that post has nothing to do about trading, heheh lol

anyway, interesting gbpjpy monthly chart, Jim.
late May & whole June has been rangy (summer-led consolidation perhaps..).
so, let's see what July & August brings. (breakout Sir? hehe)

Oh Yeah . . breakout baby . . .hard break . .retest . .the whole 9 yards.
Indicators show the past. Price Action "Indicates" the future.
  • #68,380
  • Jul 11, 2010 9:58pm Jul 11, 2010 9:58pm
9 yards?!??
that's a huge move
Hahah
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