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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

  • #69,941
  • Edited 4:42am Jul 28, 2010 4:18am | Edited 4:42am
Quoting supremeChaos
Hello six gun,
sorry if i didnt explain it clearly.
try this links. here, here(May25 post), here, here, here

check pipmyride's post prior...
I usually take the lines off, others don't use them and it does confuse me.
This is the way the indicator is straight out of the box with Dealbook.
Price is still rising with the indices and I am not short.

I suspect the indices will end lower today. The FTSE100 tried to break 5400 yesterday, failed and created the pinbar.
It looks like the same today.
We could end up with the multiple small pin bars failing to break the 5400 level.
I think it will all end in tears for stocks and I am waiting for that to happen.
  • #69,942
  • Edited 5:17am Jul 28, 2010 4:53am | Edited 5:17am
felt I had to share this:

This morning a plane carrying 157 passengers, men, women, children and oldies crashed into the hilly area of Margalla in Islamabad, here in Pakistan.

Some eye witnesses report the plane flying abnormally low and smoking just before it crashed into the hills. They say the plane seemed to be struggling to avoid crashing into the populated regions - and it seems the pilot was determined to keep the harm limited to the unfortunate passengers.

157 people left Karachi yesterday evening hugged their relatives good bye, promising to call back upon arrival at the destination, The only call that came after the unfortunate landing was that of a 40 year old women who informed she was badly injured and bleeding. The plane crashed into the steep hills and the rainy season has made life terrible for the volunteers who wish to help collect the remains of the majority and possibly help survivors if any. Visibility is poor, land sliding is on and there is no place to land a helicopter.

Authorities admit they lack sufficient advanced equipment to detect the existent of any survivors amongst the mass of plane debris.

12 people were considered "lucky" - because they despite having their tickets confirmed on the same flight either missed it or deliberately did not get on board. This sends chills down my spine.

Is that what it takes to survive in this world? A decision that was never intended to promote or avoid such an accident will decide whether I live or shall die? Makes me wonder if the next time I decide against driving down the road for the grocery because I am tired could turn out to be a master stroke.

It amazes me at how vulnerable we are. We steal, we cheat, we terrify, we kill, all for a life that could be gone the next time we step out the front door.

God help us all, and may the souls of all whose who lost their lives in the accident rest in peace.

http://www.dawn.com/wps/wcm/connect/...margalla-qs-02

g.
I believe . . .
  • #69,943
  • Jul 28, 2010 4:56am Jul 28, 2010 4:56am
Quoting six gun
This does not make sense to me.
...
sorry, i missed the last part of your post.

Quote
If I removed these lines so it is like the MACD used most of the time here, would you say there is divergence?
to answer your Q, yes.
but like i said, your MACD (the 'real'MACD) is slightly different from the 'usual' MACD.
Quote
Is there something different about my MACD indicator?
yes, there is.
'real' MACD's histogram is NOT the same as 'usual' MACD's histogram.
'real' MACD's signal lines (the two lines non-existent in the latter) IS exactly 'usual' MACD's histogram. they are just presented differently (signal lines for 'real'MACD = histogram in 'usual' MACD.)

Quote
Most people don't have the lines so is their indicator incomplete and so potentially wrong?
not necessarily.

hope this adds clarity.
  • #69,944
  • Jul 28, 2010 4:57am Jul 28, 2010 4:57am
Quoting supremeChaos
sorry, i missed the last part of your post.


to answer your Q, yes.
but like i said, your MACD (the 'real'MACD) is slightly different from the 'usual' MACD.

yes, there is.
'real' MACD's histogram is NOT the same as 'usual' MACD's histogram.
'real' MACD's signal lines (the two lines non-existent in the latter) IS exactly 'usual' MACD's histogram. they are just presented differently (signal lines for 'real'MACD = histogram in 'usual' MACD.)


not necessarily.

hope this adds clarity.
So I need another MACD to be like the majority?
  • #69,945
  • Jul 28, 2010 4:59am Jul 28, 2010 4:59am
Quoting ghous
felt I had to share this:
Yesterday around twilight time a plane carrying 157 passengers, men, women, children and oldies crashed into the hilly area of Margalla in Islamabad, here in Pakistan.
Accidents happen all the time...

a million prayers for them, ghous.
  • #69,946
  • Jul 28, 2010 5:00am Jul 28, 2010 5:00am
Quoting six gun
So I need another MACD to be like the majority?
no Sir.
like i said in the other post, u just have to be aware of the difference & u just have to use 1 or the other consistently.

like in many things, 'what works for you'
  • #69,947
  • Jul 28, 2010 5:05am Jul 28, 2010 5:05am
Quoting ghous
felt I had to share this:

Yesterday around twilight time a plane carrying 157 passengers, men, women, children and oldies crashed into the hilly area of Margalla in Islamabad, here in Pakistan.

Some eye witnesses report the plane flying abnormally low and smoking just before it crashed into the hills. They say the plane seemed to be struggling to avoid crashing into the populated regions - and it seems the pilot was determined to keep the harm limited to the unfortunate passengers.

157 people left Karachi yesterday evening hugged their relatives...
Just got to know, my very good friend from uni, his name was Owais Bin Laiq, was on that flight.
I believe . . .
  • #69,948
  • Jul 28, 2010 5:07am Jul 28, 2010 5:07am
Quoting supremeChaos
"emotion free" is just a figurative phrase.
the correct term would be "minimize" (the effect of emotions, thru constant practice & experience).

most books are just repetitive regurgitation or a redundant marketing ploy.

btw, "i am only human" --- personally, i think that is not a good excuse.

think about it.

i see a potential setup. i did not trade it. so why should i regret it?
personally, it doesnt make any sense.

take a trade - face the consequence.
dont take it, face the consequence.
be responsible for...
There is another consideration with the psychology of missed trades which is also very important IMO.

You need to learn from it but not let it change the way you trade.

It can make you trigger happy - by that I mean the next time you see a potential trade you are still thinking aboout the one you just missed and you damn as hell aren't gonna miss this one, so you pull the trigger too soon.

It's happened to me in the past with disasterous results.
  • #69,949
  • Jul 28, 2010 5:08am Jul 28, 2010 5:08am
Quoting ghous
felt I had to share this:

Yesterday around twilight time a plane carrying 157 passengers, men, women, children and oldies crashed into the hilly area of Margalla in Islamabad, here in Pakistan.

Some eye witnesses report the plane flying abnormally low and smoking just before it crashed into the hills. They say the plane seemed to be struggling to avoid crashing into the populated regions - and it seems the pilot was determined to keep the harm limited to the unfortunate passengers.

157 people left Karachi yesterday evening hugged their relatives...
Life is a pretty flimsy thing - amazing when the whole world is built on belief, and we all believe that we are sometimes indestructible, and like the markets anything can happen....

Good reminder that while we are here and alive - we should make sure we use our lives to do awesome things!

Sorry to hear about your friend Ghous.
In retrospect we learn. In perspective we earn.
  • #69,950
  • Jul 28, 2010 5:10am Jul 28, 2010 5:10am
Quoting fx_heaven
Life is a pretty flimsy thing - amazing when the whole world is built on belief, and we all believe that we are sometimes indestructible, and like the markets anything can happen....

Good reminder that while we are here and alive - we should make sure we use our lives to do awesome things!
Exactly! Obviously all of us know how uncertain death can be, but I am shaken to the core at this horrific reminder.
I believe . . .
  • #69,951
  • Jul 28, 2010 5:14am Jul 28, 2010 5:14am
Quoting stewrigh
There is another consideration with the psychology of missed trades which is also very important IMO..
stewrigh,
agree, Sir.

to me, what u said is part of the 'consequences' & bad 'cycle'.
in short, like XNAdam said, it "reinforces bad trading psychology"
  • #69,952
  • Jul 28, 2010 5:44am Jul 28, 2010 5:44am
Quoting jarroo
Hey Squeezy . .what's up buddy.
hey Jarroo the hard break man, im good ....

Quoting supremeChaos
thanks squeezy im eating lunch in front of my PC (a typical scenario).
i just lost my appetite thanks to your post.

Hope u are doing fine.
we had a 'thread visitor' last night. u missed him..... not

Supremechocolate, hey buddy
while searching for that post i noticed uve been talking about chocolate a lot, lol
i missed it, when i hit refresh....noticed the discussion and before u know it , i bliv his posts where deleted, the dude's probably the same as the other knuckleheads(multiple usernames)
im ok S, just trying to meet up with some deadlines (not fx related)
Simplicity is the key to success
  • #69,953
  • Jul 28, 2010 7:20am Jul 28, 2010 7:20am
gbp/chf beob at resistance...
Attached Image (click to enlarge)
Click to Enlarge Name: gbpchf.gif Size: 21 KB
meine augen sind die sterne
  • #69,954
  • Jul 28, 2010 7:26am Jul 28, 2010 7:26am
Quoting ghous
Exactly! Obviously all of us know how uncertain death can be, but I am shaken to the core at this horrific reminder.
I'm really sorry to hear about this. Things like this really put things in perspective.
Anything can happen.
  • #69,955
  • Jul 28, 2010 8:04am Jul 28, 2010 8:04am
  •  Jey
  • | Joined Jun 2009 | Status: Market Slave-Overworked/Underpipped | 283 Posts
Quoting aserbfx
gbp/chf beob at resistance...
Looking at the Daily TF of GC reveals that it still has some room to run to the top. Its been range bound from 1.58300 to 1.70760 for quiet sometime now. Looks bullish to me.
Attached Image (click to enlarge)
Click to Enlarge Name: 28julgc.gif Size: 32 KB
I have seen the enemy, and it is me.
  • #69,956
  • Jul 28, 2010 8:17am Jul 28, 2010 8:17am
Can anyone refer me to an indicator that can draw horizontal lines at round numbers I specify?
  • #69,957
  • Jul 28, 2010 8:18am Jul 28, 2010 8:18am
Quoting pipmyride
While it looks like genius in hindsight, u dont "touch trade" off a MA. Touch trades are done off S/R/Fib levels which can be confluenced by MAs
I beg to disagree with this statement.

James16 himself touch trades off of the 365, 150, & 25 EMAs at pullbacks.
  • #69,958
  • Jul 28, 2010 8:24am Jul 28, 2010 8:24am
Quoting Pinbar
I beg to disagree with this statement.

James16 himself touch trades off of the 365, 150, & 25 EMAs at pullbacks.
Yeah I remember him saying this PB in an old vid. I can't remember exactly, but I'm guessing the 365 carries the most weight on a touch trade?
  • #69,959
  • Jul 28, 2010 8:25am Jul 28, 2010 8:25am
Quoting everydayguid
Can anyone refer me to an indicator that can draw horizontal lines at round numbers I specify?
here you go
Attached File(s)
File Type: ex4 SpacedLines%20.ex4   5 KB | 430 downloads
File Type: mq4 SpacedLines%20.mq4   4 KB | 569 downloads
meine augen sind die sterne
  • #69,960
  • Jul 28, 2010 8:25am Jul 28, 2010 8:25am
Quoting ghous
felt I had to share this:

This morning a plane carrying 157 passengers, men, women, children and oldies crashed into the hilly area of Margalla in Islamabad, here in Pakistan.

Some eye witnesses report the plane flying abnormally low and smoking just before it crashed into the hills. They say the plane seemed to be struggling to avoid crashing into the populated regions - and it seems the pilot was determined to keep the harm limited to the unfortunate passengers.

157 people left Karachi yesterday evening hugged their relatives good bye, promising...
Damn man, all I can say is that I hope their families find something empowering through this. It's incredibly difficult to not feel like life is just random when seeing things like that, however you just have to find something through it that enables you to still feel good about the days ahead.

I know I'm lucky/blessed because I woke up today. To me, there are possibly 157 people who won't have that any more just because of one decision so I'm going to make my days, every day, phenomenal.

I'm praying that those families find something worthwhile out of that and not just thinking that life is worthless because you could die any second. Just my 2 cents on anything like that, that's what my mentors would say and that's what I think is right as well.
I dream, therefore I become.
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