james16 Chart Thread | Page 3698 | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

Where can I learn more about Price Action like those in James16 charts? 9 replies

Attachments: james16 Chart Thread
Exit Attachments

james16 Chart Thread

  • #73,941
  • Edited 9:54am Sep 4, 2010 9:44am | Edited 9:54am
Quoting cprao
Can we trade "Major Indices (weekly)" being a american resident/citizen ?

What is the Sector ETFs ?
Hello Cprao.

Yes why not. I meant SP500, DJIA, NASDAQ, RUSSEL.
I will trade them through ETF'S (SPY, DIA, QQQQ, IWM respectively)
They are traded almost like stocks (considered equity instruments)

Sector ETF's are those like: XLE, XLF (energy, financials)
Those are cool, for example you can be bullish on all energy products not just oil, so you will go long Energy Sector ETF

Here nice quick info about ETF's in general
http://finance.yahoo.com/etf
  • #73,942
  • Sep 4, 2010 9:47am Sep 4, 2010 9:47am
Quoting ghous
hey A,

It was an IB yes, but what made it special was that it was straddled at a BRN (1.300) and was indeed an I8B meaning that it was the a bar that was smaller in range than the previous 7 consecutive bars and such a characteristic makes an IB far more valid than when it's just an IB (i.e a bar that get's engulfed by the range of the bar before it)

g.
1) Got that it is I8B. 2) Yes. it is at BRN 1.3000
But what made it to go for longs ? I read that IB's are indecision candles can move either way..
  • #73,943
  • Sep 4, 2010 9:51am Sep 4, 2010 9:51am
Quoting cprao
1) Got that it is I8B. 2) Yes. it is at BRN 1.3000
But what made it to go for longs ? I read that IB's are indecision candles can move either way..
Yes they can be traded both ways depending on which end breaks. In this case it was the high that broke so this could be a long trade.

g.
I believe . . .
  • #73,944
  • Sep 4, 2010 10:00am Sep 4, 2010 10:00am
  •  Jey
  • | Joined Jun 2009 | Status: Market Slave-Overworked/Underpipped | 283 Posts
Quoting ghous
Yes they can be traded both ways depending on which end breaks. In this case it was the high that broke so this could be a long trade.

g.
ghoust, do you play DIBS?
How do ya handle false breaks?
I have seen the enemy, and it is me.
  • #73,945
  • Sep 4, 2010 10:09am Sep 4, 2010 10:09am
Quoting ghous
Yes they can be traded both ways depending on which end breaks. In this case it was the high that broke so this could be a long trade.

g.
Thank you Ghous. I have the same question what Jey has. How do we confirm the break on one side. ?
  • #73,946
  • Sep 4, 2010 10:28am Sep 4, 2010 10:28am
Hey gang,
I thought I'd let you know that I've posted a 'James16 special' list of links about price action on my Cornholio's Reading Suggestions thread. Very useful to all the freshmen over here.
LINK: Price Action Links - James16 Special
If you don't risk, you don't ever have to lose.
  • #73,947
  • Sep 4, 2010 10:46am Sep 4, 2010 10:46am
Wow thanks bug

This is very helpfull very good work
  • #73,948
  • Sep 4, 2010 10:51am Sep 4, 2010 10:51am
  •  Jey
  • | Joined Jun 2009 | Status: Market Slave-Overworked/Underpipped | 283 Posts
Splendid bug!! Just what I needed.
I have seen the enemy, and it is me.
  • #73,949
  • Sep 4, 2010 12:21pm Sep 4, 2010 12:21pm
Quoting Adilius07
Hello Cprao.

Yes why not. I meant SP500, DJIA, NASDAQ, RUSSEL.
I will trade them through ETF'S (SPY, DIA, QQQQ, IWM respectively)
They are traded almost like stocks (considered equity instruments)

Sector ETF's are those like: XLE, XLF (energy, financials)
Those are cool, for example you can be bullish on all energy products not just oil, so you will go long Energy Sector ETF

Here nice quick info about ETF's in general
http://finance.yahoo.com/etf
Ok. Thank you. I used to trade stocks and Options (risky due to expiration).

These are pretty much stocks with no expiration, right ? But is there a broker where I can demo trade (like forex)them ?

Since no leverage, more investement is required to trade stocks.
  • #73,950
  • Sep 4, 2010 12:32pm Sep 4, 2010 12:32pm
Quoting cprao
Ok. Thank you. I used to trade stocks and Options (risky due to expiration).

These are pretty much stocks with no expiration, right ? But is there a broker where I can demo trade (like forex)them ?

Since no leverage, more investement is required to trade stocks.
Yes ETF's are like stocks. Some are "cheap" but when you begin to compare you will see that it will not worth entering a trade with small size, since you will need to have a substancial move just to cover your commision. But for longer term could be just fine.

I never traded ETF's themselves, always through options. And yeah options are dangerous, but I see that most of my trades will be closed in less than 1-2 months. (on weekly chart) so the time value is not such a huge worry.

For example my next trade will be VFC (stock) and I will buy February 2011 Call for it. (so six month is what I have) I am pretty much sure I will be stopped out before that lol... or of course most likely I will make some good money

http://cdn.forexfactory.com/attachme...1&d=1283620576

EDIT: Sorry forgot about the broker. Well I use Thinkorswim, and they have a limited demo. I think 2 weeks. It is still one of the best demos I think, because some would have like 1 day demo only. So I don't really know of any other. Maybe Charles Schwab, not sure.
  • #73,951
  • Sep 4, 2010 12:58pm Sep 4, 2010 12:58pm
Adilius07, you must be a math person or something? Trading options for a profit requires a pretty strong understanding of the mathematical background of option pricing as far as I know.
If you don't risk, you don't ever have to lose.
  • #73,952
  • Sep 4, 2010 1:06pm Sep 4, 2010 1:06pm
Quoting bug
I've been keeping an eye on the 10 and 30 year for a few weeks now (ever since the talk about QE2 began) and what do you know, we have something quite interesting going on on the weeklies and dailies. For the sake of brevity, I only posted the chart for the 10 year, but they are very similar to a large extent (see this or this link for the 30 year). I personally like to know what conditions rule the markets,...
Update on the 10 year. Price went down the first two days but has been heading up since (25 seems to be a support level). Following what Jarroo teaches here, last week's BUOB was followed by a retracement to prior bar highs (see this week's first red bar, ie counting from the right, the 5th bar). So, recapping: risk appetite seems to be on the way up at least short term.

Funny how price 'predicted' the good economic news (good economic news drives the yield up). Will update next week.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: 10 year yield daily2.png Size: 15 KB
Click to Enlarge Name: 10 year yield weekly2.png Size: 15 KB
If you don't risk, you don't ever have to lose.
  • #73,953
  • Sep 4, 2010 1:12pm Sep 4, 2010 1:12pm
Quoting bug
Adilius07, you must be a math person or something? Trading options for a profit requires a pretty strong understanding of the mathematical background of option pricing as far as I know.
Either that or a strong trading platform like thinkorswim it is truely amazing.
Actually I am pretty much new to options too, slowly discovering this intsrument.
  • #73,954
  • Sep 4, 2010 1:27pm Sep 4, 2010 1:27pm
Could anyone please help me with some formulas in Excel? I'm putting together a journal in excel and have some problems with formulas (I don't know which how to apply my idea to Excel). I have attached the journal I've made so far.

 

  1. Is it possible to calculate P/L (Pips) automatically if I close my positions at first exit point? Should I leave Exit 2 cells empty, enter 0 in there or is there any other solution that wouldn't interfere my P/L (Pips) calculation?
  2. Would it be possible to enter a code that would color the number in P/L (EUR) column (green if profit and red if loss). I'd like to do the same with Equity Change column.
  3. I suppose there's no other solution than entering P/L (EUR) manually as Excel doesn't know what's my EUR per pip size?
  4. How to hide all those numbers in Equity (€) columns? I just wanted to enter a formula to calculate equity change and it seems that Excel takes blank cell as 1 when calculating.

Attached File(s)
File Type: xls My Journal.xls   36 KB | 514 downloads
  • #73,955
  • Sep 4, 2010 1:32pm Sep 4, 2010 1:32pm
Quoting mihazupan1
Could anyone please help me with some formulas in Excel? I'm putting together a journal in excel and have some problems with formulas (I don't know which how to apply my idea to Excel). I have attached the journal I've made so far.
[list=1][*]Is it possible to calculate P/L (Pips) automatically if I close my positions at first exit point? Should I leave Exit 2 cells empty, enter...
I don't know this. But why don't you just use this service http://mt4pips.com/ - it will automatically make all calculations, charts, graphs, averages, P/L's everything for you

if you use MT4 - it is cool automatic journal.
  • #73,956
  • Sep 4, 2010 2:06pm Sep 4, 2010 2:06pm
Quoting Atc
Follow up on one of last weeks eur/usd PB...if i remember there was lots of interest in the PB's on the weeklies last weekend to which they were passes for me...I wanted to point out that the eur/usd worked even though I commented last week it was doji like when combining it with the previous bar...However, it took some time to pan out and trigger, but it did work and would have hit the first target...as you can see from the daily you could have waited for the break of the PB or waited for the retrace to resistance which turned to support which...
bingo Bill

Now we can do this pretty dang accurately with a lot of price bars, and then you add in the ones that you are comfortable in the situations you are, and you now have the probabilities skewed in your favor
  • #73,957
  • Sep 4, 2010 2:09pm Sep 4, 2010 2:09pm
Quoting LiuLangZe
Hi guys,

I'm pretty new to forex, 've been practising PB for the past 1 weeks, just a few qns to ask.

Once a PB is formed:

1) What do you guys actually look for to determine if it's tradeable? (Things like Fib. retracement, PPZ, anything else I could take note of?)

2) Any entry strategies I could look at?

3) Exit strategies.

Appreciate if you guys can help me out with this. Thx!!!!!
Welcome Liu let me try to help with your 3 questions

1. Yes these are all potential things. There isn't necessarily a list of what you must have. Sometimes just a good fib can be great, or a few of them line up to give us confluence(coming together of factors to put things in our favor). Ultimately it is all about location. Start with Post 1 and all the links on there and then go through all of James16's posts and this will start to become more clear.

2. This will also be seen as you work through the posts. There are many entry techniques the most prominent are using Price Bars combined with our locations/confluence. Pinbars/Outsidebars/inside bars etc. You will see many many examples as you work through

3. This is the trickiest part for most people but it all comes with time and experience. Some people like high winrates and get their stops to b/e quick. Once you begin to understand support/resistance you can get a great idea of trouble areas, and begin to formulate how you want to manage your trades.

Again welcome and enjoy

Mike
  • #73,958
  • Sep 4, 2010 2:20pm Sep 4, 2010 2:20pm
Quoting aserbfx
dj formed a two day dblhc. right at the 61.8% fib (rac's number, right?!).
10500 to come...
50 points still missing...
Attached Image (click to enlarge)
Click to Enlarge Name: dj3.gif Size: 20 KB
meine augen sind die sterne
  • #73,959
  • Sep 4, 2010 2:30pm Sep 4, 2010 2:30pm
buob at swing low. 61% fib. tp 88.80 usd and <90 usd.
Attached Image (click to enlarge)
Click to Enlarge Name: mmm.gif Size: 14 KB
meine augen sind die sterne
  • #73,960
  • Sep 4, 2010 2:42pm Sep 4, 2010 2:42pm
beiersdorf on weekly. with a break it will make it's way to 46.60 eur.
Attached Image (click to enlarge)
Click to Enlarge Name: bei5.png Size: 16 KB
meine augen sind die sterne
59 traders viewing now