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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

  • #72,801
  • Aug 25, 2010 8:46am Aug 25, 2010 8:46am
Quoting mbqb11
your not old school unless your keeping your notes in this Dan
What the.... Are you stalking me?!?!
Many choose unhappiness over uncertainty.
  • #72,802
  • Aug 25, 2010 8:56am Aug 25, 2010 8:56am
Quoting Ace284
In this case it was a touch trade. I do pay attention to bars but I place much more importance in Trendlines, Round numbers and price patterns. This trade setups was one of those extremely appealing ones. If you notice the bearish pole on the EURJPY was 450 pips (see image). Technically what you'd expect is another 450 pip drop (I don't pay too much attention to the exact numbers and didn't target the maximum projected low for this trade). At the time, I saw that this trade has a LOT of room to develop so my reward will be extrememly high....

I just want to give another perspective on this, I know I4Bs don't tend to run this hard, and I would never hang onto an I4B trade for as far as this one went, but still....
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Many choose unhappiness over uncertainty.
  • #72,803
  • Aug 25, 2010 10:38am Aug 25, 2010 10:38am
This is on my radar.... would be nice if this breakout holds and forms some nice PA to go long off the 1.7500 round number.

-- Danny
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  • #72,804
  • Aug 25, 2010 10:49am Aug 25, 2010 10:49am
  •  kk21
  • | Joined Sep 2009 | Status: ...the innocent bystander | 45 Posts
Quoting Adilius07

so for now 2% is of course better for me, because I will survive longer... but what if I could do this just in the opposite way.... you know 6 winners in a row with 5%MM ok... just dreams now. I need to practice, practice, practice....


hey Ad,
do you remember this quote from Jarroo?


“Novice traders continually monitor, analyze and alter their trades to maximize their profits. Professional traders continually monitor, analyze and alter their trades to reduce/minimize their risk and reduce losses. It's all about avoiding loses. Work on that and the profits will take care of themselves."

not calling you "novice"(who am i to judge) just putting this up to remind 'rock bottom' newbies like me to steer to the path of caution and always maintain about 1% risk per trade like the seniors advice unceasingly
  • #72,805
  • Aug 25, 2010 10:49am Aug 25, 2010 10:49am
Quoting bluetrader
This is on my radar.... would be nice if this breakout holds and forms some nice PA to go long off the 1.7500 round number.

-- Danny
Hey Danny, I'm already in this one, after an engulfing bar on the H6 chart.
Loved the strong close above all those previous highs, and the 1.75 of course
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  • #72,806
  • Aug 25, 2010 10:53am Aug 25, 2010 10:53am
Quoting bluetrader
This is on my radar.... would be nice if this breakout holds and forms some nice PA to go long off the 1.7500 round number.

-- Danny
If it doesn't hold, there will be a couple more chances to get in. There is a Rising triangle
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  • #72,807
  • Aug 25, 2010 10:56am Aug 25, 2010 10:56am
Quoting kk21
hey Ad,
do you remember this quote from Jarroo?...

Yes I remember reading it I was thinking I will just put this idea aside. I really have other things to worry about (like picking only strong setups).
For now will stick to 2%.

I made that questions is just to see if maybe there would be some seniors who do trade more actually. And are successful. I guess there are not many, if at all. So I will not be a hero, lol. I just started.
  • #72,808
  • Aug 25, 2010 11:34am Aug 25, 2010 11:34am
do you guys ever find that the time between setups can be long. sometimes i can wait 2 -3 weeks before something comes along... is this the same for you or am i just being too picky.
  • #72,809
  • Aug 25, 2010 11:36am Aug 25, 2010 11:36am
Quoting Bollocks
do you guys ever find that the time between setups can be long. sometimes i can wait 2 -3 weeks before something comes along... is this the same for you or am i just being too picky.
That is exactly what I am trying to achieve...
  • #72,810
  • Aug 25, 2010 11:38am Aug 25, 2010 11:38am
Quoting Bollocks
do you guys ever find that the time between setups can be long. sometimes i can wait 2 -3 weeks before something comes along... is this the same for you or am i just being too picky.
Same for me, I have taken 17 trades all year. I think I am TOO picky, so I am going to have to let it go a little this fall.

July and August are notorious for being slow trading months. It is summer, and many of the big dogs are on the sidelines, at least much more so than during the rest of the year.

I have not taken a trade in over a month, a few decent set-ups, but decent wasn't good enough for me during this slow time of year.
  • #72,811
  • Aug 25, 2010 11:43am Aug 25, 2010 11:43am
Quoting unlv_tj
Same for me, I have taken 17 trades all year. I think I am TOO picky, so I am going to have to let it go a little this fall.

July and August are notorious for being slow trading months. It is summer, and many of the big dogs are on the sidelines, at least much more so than during the rest of the year.

I have not taken a trade in over a month, a few decent set-ups, but decent wasn't good enough for me during this slow time of year.
i am relieved i am not alone then it just seems the forum keeps ticking by with charts and trades yet my world is a rather different place.
  • #72,812
  • Aug 25, 2010 11:43am Aug 25, 2010 11:43am
Bollocks, I have read this post by you just now
http://www.forexfactory.com/showpost...ostcount=58123

This is truely amazing!!! I just don't have any words, just wow!!!
  • #72,813
  • Edited 12:21pm Aug 25, 2010 11:47am | Edited 12:21pm
Nobody talked about these 2 successful pinbars today on AUD/USD 1H. They worked quite well.
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  • #72,814
  • Aug 25, 2010 11:52am Aug 25, 2010 11:52am
Quoting Adilius07
Bollocks, I have read this post by you just now
http://www.forexfactory.com/showpost...ostcount=58123

This is truely amazing!!! I just don't have any words, just wow!!!
thank you... i am still working hard at it... discipline has been the hardest lesson and by that i mean looking at the charts every day and forcing myself to sit on my hands through a rigorous trade setup grading system (point based) which has saved my arse and although i still slip up it is easy to get back on track.
  • #72,815
  • Aug 25, 2010 12:12pm Aug 25, 2010 12:12pm
I just found out I might not be allowed to trade live for the next year

I really hope not but maybe it will be a good thing...

Getting a job at a 'market maker' I thought was really going to help my trading. Financially it will but the compliance regulations might keep me on demo until the end of the contract
Anything can happen.
  • #72,816
  • Aug 25, 2010 12:17pm Aug 25, 2010 12:17pm
Quoting ddinnov
I just found out I might not be allowed to trade live for the next year

I really hope not but maybe it will be a good thing...

Getting a job at a 'market maker' I thought was really going to help my trading. Financially it will but the compliance regulations might keep me on demo until the end of the contract
No, c'mon your wife or your friend could open an account and miracliously execute just perfect J16 trades
  • #72,817
  • Aug 25, 2010 12:18pm Aug 25, 2010 12:18pm
Incoming touch trade @ 85.00 ? Maximum suspense. ;-)
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  • #72,818
  • Aug 25, 2010 12:37pm Aug 25, 2010 12:37pm
Quoting Adilius07
No, c'mon your wife or your friend could open an account and miracliously execute just perfect J16 trades
It would have to be a friend of a friend of a friend of a friend....

The irony is that I have no interest whatsoever in their "inside information" - even if I had access to it which I don't.

But I can see the point of the regulations.
Anything can happen.
  • #72,819
  • Aug 25, 2010 1:01pm Aug 25, 2010 1:01pm
the nose doesn't prottrude much. but i like the fact that it fell below the 10k, came back and closed above it (and above the 61 fib).
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meine augen sind die sterne
  • #72,820
  • Aug 25, 2010 1:15pm Aug 25, 2010 1:15pm
fgbl has reached an ath.
couldn't make it to the 135.
(with rising stocks we will probably see a retrace...)
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meine augen sind die sterne
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