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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

  • #70,461
  • Aug 3, 2010 9:35am Aug 3, 2010 9:35am
Quoting Atc
I am working on this "weirded me out" which I think of as feelings or otherwise psychology of trading..... I am still trying to take the emotion out of trading... trade what I see...and let the market do the rest...I have to tell myself feelings in the market are overated and have to force myself to be more like a machine/feelings have no influence in the market....it's there or it is not...it has to stick out or i don't trade it

Don't get me wrong I'm not critisizing you ...just need to get it out of my head... I guess I am exposing my faults...
i dont mind a little of a "feeling" keeping me out of a trade because i believe if u follow a certain number of pairs well enough u can get a feel for its movements and actually learn its rhythms ...

"id rather be out wishing i was in , than in, wishing i was out"
  • #70,462
  • Aug 3, 2010 9:44am Aug 3, 2010 9:44am
Quoting pipmyride
So you dont take this one ?

Thing for me is i would take it if i knew where the hell to get in - it was always going to retrace , as can be seen by the following bar, but hard to find a safe entry - otherwise i would be in...
I need a much bigger bar to pull the trigger on after the strong GBP moves, this one did work out fantastic though already. Did more then it's fair share
  • #70,463
  • Aug 3, 2010 9:46am Aug 3, 2010 9:46am
Quoting Peterfx2010
Hi all,

Hi Mike, as i promise I'm posting.
Would like to hear your view about this 2bar possible Pinbar forming on daily.


There is also a triangle on 4 hour chart. That seems to be breaking downside in the moment im writing.


Ty
Hey Peter glad to see you posting

If you look that 2bar pin would be dead in the middle. Neither at a swing high(where we want a bearish pin) nor even a swing low). This is going to me sideways market, or consolidation which you have identified. So form a james16 standpoint this is an easy pass as we want that bar at a swing high. You would really be trading in such a mess that it becomes very difficult to trade.

Hope that helps
Mike
  • #70,464
  • Aug 3, 2010 9:46am Aug 3, 2010 9:46am
Quoting aserbfx
yes, i do trade stocks and futures.
if you like, check my attachements for posted stock-charts.
Aserbfx, thanks for reply. I see it is working for you! Do you think this methods are equally good for forex and stocks, or you have a preference?
Thank you.
  • #70,465
  • Aug 3, 2010 9:58am Aug 3, 2010 9:58am
Quoting Adilius07
Aserbfx, thanks for reply. I see it is working for you! Do you think this methods are equally good for forex and stocks, or you have a preference?
Thank you.
i like them both.
as you already mentioned, gaps can be a problem if you take overnight positions or if price gaps because of news.
maybe you know this, but you can easily open a demo-account with brocotrader or fxpro (for exemple) and check some stocks, futures etc. in your metatrader. a good way to start.
meine augen sind die sterne
  • #70,466
  • Aug 3, 2010 10:02am Aug 3, 2010 10:02am
Quoting aserbfx
i like them both.
as you already mentioned, gaps can be a problem if you take overnight positions or if price gaps because of news.
maybe you know this, but you can easily open a demo-account with brocotrader or fxpro (for exemple) and check some stocks, futures etc. in your metatrader. a good way to start.
yeah for sure we were talking about this one last night
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  • #70,467
  • Aug 3, 2010 10:04am Aug 3, 2010 10:04am
Quoting aserbfx
i like them both.
as you already mentioned, gaps can be a problem if you take overnight positions or if price gaps because of news.
maybe you know this, but you can easily open a demo-account with brocotrader or fxpro (for exemple) and check some stocks, futures etc. in your metatrader. a good way to start.
Thanks! Yes I am looking if I can find some free stock scanner for SP500, DJIA and then will open some free portfolio tracker (like bloomberg) I will demo try it on Weekly time frame.

I just eye-balled some weekly charts and they really look good, in some cases just amazing! And the gap problem is reduced a little I think. Thanks Aserbfx

I feel some amazing potential is opening in front of me
  • #70,468
  • Aug 3, 2010 10:08am Aug 3, 2010 10:08am
Quoting mbqb11
yeah for sure we were talking about this one last night
Oh Mike, I just talked that maybe weekly is better for setups and you posted the weekly!! ha, so maybe my feeling was right this time! I will stick to weekly!!

Mike, can you suggest any good stock screener?
  • #70,469
  • Aug 3, 2010 10:10am Aug 3, 2010 10:10am
Quoting Adilius07
Oh Mike, I just talked that maybe weekly is better for setups and you posted the weekly!! ha, so maybe my feeling was right this time! I will stick to weekly!!

Mike, can you suggest any good stock screener?
I have heard people use stockfetcher.com finviz.com
  • #70,470
  • Aug 3, 2010 10:14am Aug 3, 2010 10:14am
Quoting mbqb11
I have heard people use stockfetcher.com finviz.com
Thanks! going to check them out.
  • #70,471
  • Aug 3, 2010 10:16am Aug 3, 2010 10:16am
I am hanging out in the chat with some people if anyone wants to

http://www.james16group.us/Guests/guestchat.html
  • #70,472
  • Aug 3, 2010 10:34am Aug 3, 2010 10:34am
Quoting Adilius07
I feel some amazing potential is opening in front of me
something to make your mouth water...

bmw on daily. retrace from trendline and buob.

(yes, it was in a little traffic... but....)
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meine augen sind die sterne
  • #70,473
  • Aug 3, 2010 11:14am Aug 3, 2010 11:14am
Quoting ertorque
Is your IBFX UK's because mine (US) doesn't have GBP/AUD.
Well, if price has not reached the other end of the pb then I would say the play is still very much 'alive' because as you know putting SL at the other end is very much the way in J16.

Yes I understand that sometimes we need to bail out when one thinks momentum is not in our desired direction but I guess placing SL is one of the 'arts' that one has to learnt be it at the extreme end or previous bar hi/lo etc. I know I am still learning and experimenting.............
For the record you were right with this one, Holding on would have worked out better
But I would have been annoyed with myself if I'd seen it slip past 1.75. done nothing and then taken a 1R loss, and it came damn close

J
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  • #70,474
  • Aug 3, 2010 11:38am Aug 3, 2010 11:38am
Hi Mike,
I tried the link to the chat room, but it does not work, errm is any one else having the same difficulty?

Also could anyone recomend a brokerage for trading equity and forex using mt4 and that has reasonable spreads, i know i dont ask for much!

cheers
Rev

Quoting mbqb11
I am hanging out in the chat with some people if anyone wants to

http://www.james16group.us/Guests/guestchat.html
  • #70,475
  • Aug 3, 2010 11:44am Aug 3, 2010 11:44am
Quoting Revstar
Hi Mike,
I tried the link to the chat room, but it does not work, errm is any one else having the same difficulty?

Also could anyone recomend a brokerage for trading equity and forex using mt4 and that has reasonable spreads, i know i dont ask for much!

cheers
Rev
My guess it is your browser try a different one too see. Haven't heard any other issues

Best
Mike
  • #70,476
  • Aug 3, 2010 2:31pm Aug 3, 2010 2:31pm
Two successive inside bars on EUR/USD 4H timeframe (see attachment). Which breakout do we trade ?
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  • #70,477
  • Aug 3, 2010 3:30pm Aug 3, 2010 3:30pm
Well maybe this one is going to be my first short stock trade (demo of course)
-IPB
-BRN
-2Top
-Some room to FTA
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  • #70,478
  • Aug 3, 2010 3:36pm Aug 3, 2010 3:36pm
Quoting Adilius07
Well maybe this one is going to be my first stock trade (demo of course)
big resistance at 50 usd. would wait for a breakout above that (and maybe retrace).
meine augen sind die sterne
  • #70,479
  • Aug 3, 2010 3:38pm Aug 3, 2010 3:38pm
Quoting aserbfx
big resistance at 50 usd. would wait for a breakout above that (and maybe retrace).
No, no I meant SHORT!
I just found it today, so will enter at the market open tomorrow.
If it would still be around where it is now...

Sorry, I edited that post to avoid any confusion.
  • #70,480
  • Aug 3, 2010 3:40pm Aug 3, 2010 3:40pm
Quoting Adilius07
No, no I meant SHORT!
I just found it today, so will enter at the market open tomorrow.
If it would still be around where it is now...
ah ok.
so both ways are possible...
let's see...
meine augen sind die sterne
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