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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

  • #69,201
  • Jul 20, 2010 10:33am Jul 20, 2010 10:33am
Quoting Jey
Hey Mike, good to see your around. I still have not heard from Jim yet even though I did send him another reminder to the earlier message.

Hope to join you guys in this fine thread. This is easily the longest thread in FF and I bet the mightiest too.
He'll get to it Jey

I am lucky to keep on top of my mailbox (no wife and kids ) When I go to sleep and wake up it goes boom, then I work all morning/afternoon to bring it down + posts/PMs lol

Good too see you here bud keep reading it gets easier

Mike
  • #69,202
  • Jul 20, 2010 10:38am Jul 20, 2010 10:38am
Mike, yes I am on demo now. It is still painful though. LOL.

When I opened this demo I had no idea about proper %MM.
So I think I should open another demo for 50K and trade 0.10. (Is just FXPro has an unlimited demo which is very convinient).

But for now trading 3K account with 0.20 (two lots of 0.10) is just stupid? ok, thanks ))
  • #69,203
  • Jul 20, 2010 10:40am Jul 20, 2010 10:40am
Quoting Adilius07
Mike, yes I am on demo now. It is still painful though. LOL.

When I opened this demo I had no idea about proper %MM.
So I think I should open another demo for 50K and trade 0.10. (Is just FXPro has an unlimited demo which is very convinient).

But for now trading 3K account with 0.20 (two lots of 0.10) is just stupid? ok, thanks ))
ok good to hear Ad

Yes a 3k account should be traded with a nano lot broker in my opinion, and at the minimum a micro lot broker. Cause the more exact you can get to exactly what (1,2,3% of your account equals) the more compounding will work in your favor

It's all about learning these things

Mike
  • #69,204
  • Jul 20, 2010 10:42am Jul 20, 2010 10:42am
i'm currently thinking whether to join the James16 Group. the price is reasonable, they just din't want people to take it lightly and start flooding the place, so i can understand that he's charging for it. to pull those interest people into a different circle. but i just want to know, is the website updated till today? i understand that his group has exist for a few years. i'm just worried that he does not update it anymore. and also, are the information in the website grouped nicely? because i won't want to pay the money every month to get posts like this thread here. i'm not saying this thread is not good. don't take me wrong, just that the noise is making it a bit complicated. so yea..

i'm willing to join the group, but i just want to know whether i'm using my money to buy a ticket to the forex world, or an empty world.

sorry if i sound offensive and offend some of you out there. just that i've spent money that i saved so hard to people smarter than me. i'm not angry at them, just pissed of at my stupidity. hope this time, i will be getting something worth the money i've saved so hard.
  • #69,205
  • Jul 20, 2010 10:48am Jul 20, 2010 10:48am
Did anyone take the EURUSD 4h BEOB this morning?

I couldn't decide, so when in doubt stay out. I am just surprised to not read about anyone taking this trade. It was off the 61.8 Fib retracement level and the 1.3000 RN. Nice BEOB with slight MACD divergence.

The overall recent traffic looked like too much, so I passed on it.

I really think this four hour bar that closes at 5 AM CST is just so powerful that taking even less than perfect set-ups will make a good return. So I must fight this fear of losing.

Anyone take this trade?
Attached Image (click to enlarge)
Click to Enlarge Name: eurusd.gif Size: 13 KB
  • #69,206
  • Jul 20, 2010 11:03am Jul 20, 2010 11:03am
Quoting unlv_tj
Did anyone take the EURUSD 4h BEOB this morning?

I couldn't decide, so when in doubt stay out. I am just surprised to not read about anyone taking this trade. It was off the 61.8 Fib retracement level and the 1.3000 RN. Nice BEOB with slight MACD divergence.

The overall recent traffic looked like too much, so I passed on it.

I really think this four hour bar that closes at 5 AM CST is just so powerful that taking even less than perfect set-ups will make a good return. So I must fight this fear of losing.

Anyone take this trade?
Hey there

I took the trade but based on a 5 hour chart, the close was slightly lower and made the bar look so much more attractive to me

http://www.forexfactory.com/showpost...ostcount=69164

http://www.forexfactory.com/showpost...ostcount=69188

J
  • #69,207
  • Jul 20, 2010 11:06am Jul 20, 2010 11:06am
Quoting mihazupan1
Was watching a potential bullish pinbar forming yesterday on daily NZD/USD and now I've already missed it. Better luck next time
Hello mihazupan1

Can u plese attach your chart, I didn´t saw this pinbar.

Thank´s
Suba
  • #69,208
  • Jul 20, 2010 11:18am Jul 20, 2010 11:18am
Quoting premierpip
i'm currently thinking whether to join the James16 Group. the price is reasonable, they just din't want people to take it lightly and start flooding the place, so i can understand that he's charging for it. to pull those interest people into a different circle. but i just want to know, is the website updated till today? i understand that his group has exist for a few years. i'm just worried that he does not update it anymore. and also, are the information in the website grouped nicely? because i won't want to pay the money every month to get posts...
The PF is a wonderful and very active group of J16 traders. Lot's of webinars and chat sessions. The information is very nicely grouped and many seniors have their own separate sections in the forum to ensure the information is well grouped and easily accessible.

Again most of the information isn't any different to the info here just that the PF comes with some advantages that can only come about in that particular environment.

g.
I believe . . .
  • #69,209
  • Jul 20, 2010 11:27am Jul 20, 2010 11:27am
Quoting Suba
Hello mihazupan1

Can u plese attach your chart, I didn´t saw this pinbar.

Thank´s
Suba
I've already posted it.

See this post
  • #69,210
  • Jul 20, 2010 11:40am Jul 20, 2010 11:40am
Quoting mbqb11
ok good to hear Ad

Yes a 3k account should be traded with a nano lot broker in my opinion, and at the minimum a micro lot broker. Cause the more exact you can get to exactly what (1,2,3% of your account equals) the more compounding will work in your favor

It's all about learning these things

Mike
Mike, I was thinking about your post. So you mean in order to maximize the compounding I need to bring my position to % as close as possible, for example:

For 50K Account 2% is $1000 so I buy enough lots to "fullfil" this, for example 5 lots (this is all based on a particular stop size).
But when I will build my account to 70K 2% is $1400 so this time I also "fullfil" enough lots based on current stop-size to bring it as close to 2% as possible?

So I gradually trade more and more lots, but in case of stop-out I still lose not more than 2%?

If I got this right, this is really a revelation for me! Never thought about this.
  • #69,211
  • Jul 20, 2010 11:44am Jul 20, 2010 11:44am
Quoting Adilius07
Mike, I was thinking about your post. So you mean in order to maximize the compounding I need to bring my position to % as close as possible, for example:

For 50K Account 2% is $1000 so I buy enough lots to "fullfil" this, for example 5 lots (this is all based on a particular stop size).
But when I will build my account to 70K 2% is $1400 so this time I also "fullfil" enough lots based on current stop-size to bring it as close to 2% as possible?

So I gradually trade more and more lots, but in case of stop-out I still lose not more than 2%?

If...
Yes using a fixed %risk, as your account grows your risk remains the same but you will be using more lots since your account size grows, and vice versa if your account size decreases your risk remains the same but your lot size decreases to match that.

What I mean is if you risk 2% and it pops out that you need 5.5 mini lots to match that risk. If you can only risk either 5 or 6 lots b/c you can't match that .5(which would be 5 micro lots) because your broker only allows you to trade mini. Either you have to decided to risk more on that trade(6 lots) or risk less on that trade(5 lots). The only way to match that 2% risk which should be 5.5 lots is to have a broker that allows you to get to that 5.5 lots. Otherwise your % risk will not match 2% but be over or under that amount.

The closer you can get to that %r with your lot sizes the more beneficial in the long run

Mike
  • #69,212
  • Jul 20, 2010 11:53am Jul 20, 2010 11:53am
Quoting premierpip
i'm currently thinking whether to join the James16 Group. the price is reasonable, they just din't want people to take it lightly and start flooding the place, so i can understand that he's charging for it. to pull those interest people into a different circle. but i just want to know, is the website updated till today? i understand that his group has exist for a few years. i'm just worried that he does not update it anymore. and also, are the information in the website grouped nicely? because i won't want to pay the money every month to get posts...
i would say the PF is more active today than it's ever been. i just wish i had more time to participate in all the webinars and whatnot.
  • #69,213
  • Jul 20, 2010 11:57am Jul 20, 2010 11:57am
Quoting mbqb11
Yes using a fixed %risk, as your account grows your risk remains the same but you will be using more lots since your account size grows, and vice versa if your account size decreases your risk remains the same but your lot size decreases to match that.

What I mean is if you risk 2% and it pops out that you need 5.5 mini lots to match that risk....

Mike, thanks a lot! I think I begin to understand. I will open another demo and will try to do this correctly this time. Thanks.
  • #69,214
  • Jul 20, 2010 11:58am Jul 20, 2010 11:58am
Quoting ghous
The PF is a wonderful and very active group of J16 traders. Lot's of webinars and chat sessions. The information is very nicely grouped and many seniors have their own separate sections in the forum to ensure the information is well grouped and easily accessible.

Again most of the information isn't any different to the info here just that the PF comes with some advantages that can only come about in that particular environment.

g.
yeah.. i read from a few people that signing up will not be useful because there won't be any difference in information. but the information here in this thread is really hard to go through.

what special support will i get from J16? anyway, are you in the group?

i'm really interested in joining, but 129USD in my currency is not a small money every month.

how do i start this forum? can you help me get going?
  • #69,215
  • Jul 20, 2010 12:12pm Jul 20, 2010 12:12pm
Quoting premierpip
yeah.. i read from a few people that signing up will not be useful because there won't be any difference in information. but the information here in this thread is really hard to go through.

what special support will i get from J16? anyway, are you in the group?

i'm really interested in joining, but 129USD in my currency is not a small money every month.

how do i start this forum? can you help me get going?
Before jumping in have a look at the links Sir SC put up a few posts back

The first post has a lot of links to summary posts and good posts. This one is a very good and well ordered summary of some of the earlier posts in the thread.

The videos in the guest area of the PF (See SC's posts linked to above) give you a lot to get up and running as well.
Anything can happen.
  • #69,216
  • Jul 20, 2010 12:14pm Jul 20, 2010 12:14pm
Quoting supremeChaos
hello fellow Asian!
read Cyrus summaries
view the free videos too.
joining the group is not necessary but it has been said that the private forum has less noise & more meat (videos/articles). it's also been said that all u need to learn is inside this thread. it's your choice.

we learn by reading & asking questions...
Good luck!
Hi bro
If u remember my PM

My own race just begun
Attached Image
  • #69,217
  • Jul 20, 2010 12:23pm Jul 20, 2010 12:23pm
Quoting supremeChaos
very nice.
been wanting to have this for some time now (but forgot about wanting it, lol).
Thanks Sir.

EDIT:
it appears that u personally made some of the code modifications
Great effort, great job
i have this tool which helps me desing RN link you just insert if you want the lines every 100 pips or every 500 or 1000 pips and thats it
  • #69,218
  • Jul 20, 2010 12:25pm Jul 20, 2010 12:25pm
Quoting Adilius07
Mike, I was thinking about your post. So you mean in order to maximize the compounding I need to bring my position to % as close as possible, for example:

For 50K Account 2% is $1000 so I buy enough lots to "fullfil" this, for example 5 lots (this is all based on a particular stop size).
But when I will build my account to 70K 2% is $1400 so this time I also "fullfil" enough lots based on current stop-size to bring it as close to 2% as possible?

So I gradually trade more and more lots, but in case of stop-out I still lose not more than...
If you have some problems calculating the risk ratio, take a look at this page http://www.earnforex.com/position-size-calculator
  • #69,219
  • Jul 20, 2010 12:26pm Jul 20, 2010 12:26pm
Just FYI

Posted Here
Dr. C
  • #69,220
  • Jul 20, 2010 12:38pm Jul 20, 2010 12:38pm
Quoting ppfx
If you have some problems calculating the risk ratio, take a look at this page http://www.earnforex.com/position-size-calculator
Hey PPFX, thanks!! I was thinking to make a spreadsheet but this one is even better! Thanks a lot!
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