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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

  • #72,961
  • Aug 26, 2010 12:46pm Aug 26, 2010 12:46pm
Quoting Naijafx
mike, u r an honest man, a true teacher and a believer of wot u teach. many wouldnt have pull up the chart coz trade still not working. weldone.

i like the fact that u reduce risk on it too. excellent

august has been like ping pong. presently am -0.4% down but am optimistic, i will close with profit.

thanks mike A.
from ur student from Nigeria
Mike F.
Thanks Mike, I don't care what I post b/c trading is just trading to me. you win and you lose and I trade through my ups and downs. I post trades that I take here both after and during and before, but I save most of it for my threads in the PF since it flows better for me plus people pay obviously lol. I think this thread is good for more of a foundation and once and awhile we can dabble in some more. Those know that I have no problem posting my losses. You can't win without losing sometimes

I wish I was a super trader though http://www.bestfilez.net/forums/styl...t/superman.gif
but I make a better Fudd http://i16.photobucket.com/albums/b7...icons/fudd.gif
  • #72,962
  • Aug 26, 2010 12:50pm Aug 26, 2010 12:50pm
Quoting mbqb11
Hey Squeezy this is a variation of breakouts I play ONLY when we have multi bar high/low within a small range....
thnx alot ever so helpful big Mike
wkend is more or less here so have a lovely wkend
stay safe
Simplicity is the key to success
  • #72,963
  • Aug 26, 2010 12:58pm Aug 26, 2010 12:58pm
Quoting squeezy
thnx alot ever so helpful big Mike
wkend is more or less here so have a lovely wkend
stay safe
you too bud!
  • #72,964
  • Aug 26, 2010 12:59pm Aug 26, 2010 12:59pm
Quoting mbqb11
Thanks Mike, I don't care what I post b/c trading is just trading to me....
like the Fudd smiley
  • #72,965
  • Aug 26, 2010 1:23pm Aug 26, 2010 1:23pm
Look! Another ad from some mega-super-mentor service!
How come they are not ashamed of themselves making such ads? - you know turn your hundered bucks into 20 million in 12 months??? Wanna join??

Just makes me sick!
Attached Image (click to enlarge)
Click to Enlarge Name: russell-sp500-forex-trading-room.jpg Size: 220 KB
  • #72,966
  • Aug 26, 2010 1:26pm Aug 26, 2010 1:26pm
Quoting Adilius07
Look! Another ad from some mega-super-mentor service!
How come they are not ashamed of themselves making such ads? - you know turn your hundered bucks into 20 million in 12 months??? Wanna join??

Just makes me sick!
That's awesome! Sign me up!

/sarcasm off
  • #72,967
  • Edited 1:40pm Aug 26, 2010 1:29pm | Edited 1:40pm
Quoting mihazupan1
That's awesome! Sign me up!

/sarcasm off
hold on, I'm busy calculating what is my initial deposit needs to be to get to my 20 mln in two weeks or less.... (I just really need some money now)....

Oh I think I'll just go with $10 and have my $2 000 000 in 12 months..
  • #72,968
  • Aug 26, 2010 1:47pm Aug 26, 2010 1:47pm
How nice...not a single drawdown...
What kind of leverage is needed to make a 5% profit every day ?
  • #72,969
  • Aug 26, 2010 1:49pm Aug 26, 2010 1:49pm
Quoting Adilius07
Look! Another ad from some mega-super-mentor service!
How come they are not ashamed of themselves making such ads? - you know turn your hundered bucks into 20 million in 12 months??? Wanna join??

Just makes me sick!
rofl, basically give him your money so he can punch you in the face. At least the pain is over real quick
  • #72,970
  • Aug 26, 2010 1:50pm Aug 26, 2010 1:50pm
Quoting ts63
How nice...not a single drawdown...
What kind of leverage is needed to make a 5% profit every day ?
I know this is off topic sorry everyone. But I just can't stop laughing:

Take A Look At What A 5% Daily Gain From An $100 Investment Can Give You In 12 Months!
If you would like to learn more about a low risk futures investment system, that can provide these type of percentage gains everyday, then…………



  • #72,971
  • Aug 26, 2010 1:56pm Aug 26, 2010 1:56pm
Quoting mbqb11
rofl, basically give him your money so he can punch you in the face. At least the pain is over real quick
To be honest I have spent my money two times on something like this. I thought oh well ok just one months salary would return in thousands of %'s....
what a dumb ass I was
  • #72,972
  • Edited 2:07pm Aug 26, 2010 2:07pm | Edited 2:07pm
3 consecutive inside bars on EUR/USD 1H...
How boring !
Attached Image
  • #72,973
  • Aug 26, 2010 2:55pm Aug 26, 2010 2:55pm
What are the chances of gchf going to 1.6570 over the next few days?
... or to 1.5670?
Which is better probability?

.

SNB knows...

21_70
Attached Image (click to enlarge)
Click to Enlarge Name: gchf.gif Size: 15 KB
  • #72,974
  • Aug 26, 2010 3:02pm Aug 26, 2010 3:02pm
Quoting pipmyride
Boy has it ever !

Man this month has really underlined when i've mis-managed trades so badly ... bring on September

I double that.
  • #72,975
  • Aug 26, 2010 4:03pm Aug 26, 2010 4:03pm
Another thought. Could that be so, that so many people in the world will read this thread so the method would loose its edge, PB's and rest would just stop working some day???????

OMG! I may be not a very good person then, I am really worried... you know
  • #72,976
  • Aug 26, 2010 4:05pm Aug 26, 2010 4:05pm
Hey guys I see at the moment two consecutive opposite PB's on the daily TF of the E-C, the A-U, the N-U and the G-C. If the current daily bars indeed close like a PB then this would be a nice oppertunity to apply the KISS-method to trade these opposite PB's.
Pipcrawler
  • #72,977
  • Aug 26, 2010 4:17pm Aug 26, 2010 4:17pm
  •  jdl
  • | Joined Oct 2006 | Status: going to master this or die trying | 101 Posts
Quoting xmzhang
Hey guys I see at the moment two consecutive opposite PB's on the daily TF of the E-C, the A-U, the N-U and the G-C. If the current daily bars indeed close like a PB then this would be a nice oppertunity to apply the KISS-method to trade these opposite PB's.
I read that KISS method here but still do not understand it:
http://www.forexfactory.com/showpost...ostcount=72310

Rules seems to be:
1. You Fib the range of opposing PBs
2. you wait for price to break that range
3. you then wait for retracement to pivot (middle of Fib range)
4. you put pending order on at pivot point
5. you trade in direction of break to .382 extension

So my questions are:
a. "trade in direction of break" means in the direction of the step 2 break? So the thinking is it will often break again in the same direction even after the retrace? Or does it mean the direction it breaks AFTER it returns to pivot?

b. it sounds like you are trying to capture the range from pivot to .38 Fib. But the image in the KISS post shows take profit outside of the whole range of the two PBs. So where is TP?

c. What is the role of the "strike" line in that image?

Thanks for any clarification, now seems like a great time to practice this!
  • #72,978
  • Aug 26, 2010 4:19pm Aug 26, 2010 4:19pm
Quoting Adilius07
Another thought. Could that be so, that so many people in the world will read this thread so the method would loose its edge, PB's and rest would just stop working some day???????

OMG! I may be not a very good person then, I am really worried... you know
No trust me there are way to many variables for this to become an issue. Learn and trade with confidence my friend ,


Mike
  • #72,979
  • Aug 26, 2010 4:37pm Aug 26, 2010 4:37pm
Quoting jdl
I read that KISS method here but still do not understand it:
http://www.forexfactory.com/showpost...ostcount=72310

Rules seems to be:
1. You Fib the range of opposing PBs
2. you wait for price to break that range
3. you then wait for retracement to pivot (middle of Fib range)
4. you put pending order on at pivot point
5. you trade in direction of break to .382 extension

So my questions are:
a. "trade in direction of break" means in the direction of the step 2 break? So the thinking is it will often break again in the...

fib strike is an advanced technique that shouldn't be used by newer traders. Although it is brilliant

Roger is always going about finding new patterns and how to profit on them...

EDIT: I see your join date is '06! Go through his thread and read it all, very good information there.
Many choose unhappiness over uncertainty.
  • #72,980
  • Aug 26, 2010 4:56pm Aug 26, 2010 4:56pm
Quoting Adilius07
Another thought. Could that be so, that so many people in the world will read this thread so the method would loose its edge, PB's and rest would just stop working some day???????

OMG! I may be not a very good person then, I am really worried... you know

there already are pinbars and BUOB/BEOB that don't work.... developing your own discretion is key.
Many choose unhappiness over uncertainty.
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