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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

  • #73,981
  • Sep 4, 2010 9:21pm Sep 4, 2010 9:21pm
Quoting aserbfx
i take some of them. but not all.
there are a lot of buob on the weekly stock-charts. why? because the s&p made a buob, too. and most stocks are highly correlated with it, of course.
so i try to pick trades which show divergence with it to create trades which are not 100% correlated. because otherwise if the s&p will go down, then all this trades are likely to fail.
csco looks good, for example. not a buob, but a pin with all what we are looking for.
i am posting this charts for discussion. i appreciate every comment.
traders helping traders!...
Just wanted to say>>>>> I enjoy your posts and keep it up

Bill
  • #73,982
  • Sep 4, 2010 10:16pm Sep 4, 2010 10:16pm
Quoting dfumagalli
Taking 10 A++ trades a year (9 of which winners) looks so good...
... until you realize your $1000 account becomes something like $1300.
.....
Quoting fxterrapin
Yes, you are right. At one point James even states that the only traders he has seen succeed are those with 6 figures+.
Quoting mbqb11
small rant coming
This isn't really the point of his meaning you need a big account....
Quoting fxterrapin
...I do not...
Quoting mbqb11
...I should...
Quoting spookie94
Money is just part of the equation...
Quoting ekling
...its obviously gonna take time to go from 1000$ to 100000$. Thats a return of 10000%..
Some fact here, if you can manage 2% per month and start with 1000$ then it will take you 233 months or about 20 years to gather 100000$ to your account..
Quoting Adilius07
...we are talking about 30% annual growth here, wow, huge isn't it?...
very nice mini discussion.
small account holders are at a slight disadvantage (account growth wise), but i think it's a minor & more importantly, a fleeting issue.
psychology/mental makeup/paradigm is key IMHO.

Quoting joelcf
Gee, 30%pa? What a scam...
You are way too nice - what happened to the whole 'angry New Yorker' stereotype?!
is there such a stereotype? hahah
  • #73,983
  • Sep 4, 2010 10:41pm Sep 4, 2010 10:41pm
Quoting Pinbar
Not looking....
Quoting Pinbar
...
The main problem with this trade seems to be the BEOB not closing below the TL and the sideways PA.
I should have been watching the sideways market and saying, forget it.
Strange that, I even said in the post before I took this trade, that I wanted to see the BEOB close below the TL and the 0.9068 area yet, I still took this trade. I also criticized the size of the BEOB saying it only encompasses a single bar, yet I still took it.....
Quoting Atc
IMO...this played out on the 4H TF and hit it's tgt which was a trouble area depicted on the charts I posted....
Atc made a good post.
i think this was more about PA & S/R than the TL
also, we must always consider trend &/or near-term dominant move, which IMHO has been up for audusd.

speaking of audusd....
Quoting joelcf
Not in an Aston Martin.
In an Aston Martin.
In an Aston Martin. With Kate Beckinsale. On the god damn moon.
fantastic visualization
Quoting joelcf
Closed AUDUSD, tightened up stops on everything bar EURCHF shorts...
why exit audusd?
im still waiting for 0.92 - 0.94, even parity area... with or without me riding it
eurchf-wise, i think it's poised for an upmove, towards 1.33 - 1.35/1.37 in the short-term. Let's see, it's up to the SNB


Quoting Pinbar
...
Your post cheered me up no end so, I just took this photo of Mount fuji from my veranda for you as I was looking at it thinking I am at the foot of it in a trading sense..
Quoting Pinbar
...
I prefer the view of the city at night and the fireworks at the weekends.
I get to see no less than 30 fireworks displays from my veranda in the summer.
....
awesome post & pics. Many thanks!

Quoting Adilius07
that's why I quit studying japanese very early, lol.
Too complicated.
most who have studied Chinese (& perhaps 'some' Japanese) would probably agree with me & say Japanese is much easier (written & verbal). http://cdn.forexfactory.com/images/s...m/big_grin.gif
  • #73,984
  • Sep 4, 2010 10:53pm Sep 4, 2010 10:53pm
Quoting raczekfx
Fine, you asked for them..
....
Quoting raczekfx
and the aftermath....
@ charts

Quoting triger88990
...
glad to see you are posting often lately
...
much less than i hope
...but its understandable

Quoting triger88990
I'm in lurking mode for some time, I think is just me that I feel more comfortable without speaking to much about my trading activity....it's more productive to my account....
as i expected

Quoting ppfx
speaking of Rac,.. your post reminded me of one of his, lol... see the similarity?
Quoting triger88990
LOL maybe it is because I have read his posts for so many times that I lost the count, thats why this similarity...
my thought exactly!


Quoting jarroo
I needed to zoom out a bit more to get a bigger picture, sChaos.
The 1.5800 was hanging out there from March, needed also to be considered.
Yes, Sir.
the 1.5800 RN is a given for me.
i also have 1.5825 as PPZ, slightly similar to rac's (1.5820, chart above).

Quoting jarroo
I'm still having internet problems...
same here
  • #73,985
  • Edited 11:17pm Sep 4, 2010 10:54pm | Edited 11:17pm
Quoting Jonnyislost
We seem to have picked a direction
Good 'ol NFP
Quoting Jonnyislost
I really hope somebody/somewhere in the world, took this 5 Minute Pin


Quoting Jonnyislost
Yeah We have nice ones on the CAD crosses but I'm not brave enough to take them,
30 mins after the News and on a Friday heading towards a Holiday weekend
1.3350-70 is the key area IMHO. let's see


hope everyone is having an awesome weekend.
  • #73,986
  • Sep 5, 2010 12:41am Sep 5, 2010 12:41am
Quoting geomink
Short EUR/AUD
hit TP 1,4020
Don't give up
  • #73,987
  • Edited 2:10am Sep 5, 2010 1:52am | Edited 2:10am
Quoting geomink
hit TP 1,4020
i remember this trade..
im glad it worked out well for u!


**************
a little trading related 'insight' for this weekend: (video link)
"We are the ones that want to choose
Always want to play
But you never want to lose " (lyrics from the song 'Aerials' by System of a Down)

brought to u by the coolest radio in town, DWJ16... this is your DJ, DJ SC, signing out for now
  • #73,988
  • Sep 5, 2010 3:14am Sep 5, 2010 3:14am
Quoting Adilius07
I got a phone call from my father today. Nice conversation. But then he asked:
- Are you still doing that casino thing you do?
- Yes, dad.
- When are you going to finally become a responsible adult, you are old already!

Eh. Sucks. Good thing I'm not married, cause she would be probably the same.
I'm thinking the same way. Once I'm married, no more long nights at the charts. So I'm trying to learn as much as I can, and get good at trading, so I have both.

Synergy
  • #73,989
  • Sep 5, 2010 3:25am Sep 5, 2010 3:25am
Quoting Pinbar
...
And I have to go to a Japanese funeral today.
I hate it because after everyone has watched the smoke coming out of the crematorium then, they take the Adam's apple bones and pass them around from chopsticks to chopsticks in pairs of people! Can you believe that? It is true.
Quoting Pinbar
Yeah, the shape of the Adam's apple is like a Buddha so they call it the NODO BOTOKE or throat Buddha.
....
The coffin is placed on a tray in the crematorium....
interesting trivia.
Thanks for sharing!


Quoting lokgotkent
Recently there is a stock challenge in my country Malaysia. for such a market with low volume, I wonder how the leader gained 300% from his/her starting capital of $100,000 in 14 days. hmm.. day trading? anyone has any idea?....
overtrading
overleveraging
auto-trading?


Quoting Adilius07
Basically, over here all my relatives, friends everyone view this as some scary addiction I have. And you know that even motivates me not to quit! lol. I just imagine their faces when I will finally have something that will prove all this was NOT a casino


Quoting bug
...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. ...
excellent compilation
...
PPZ = Electrical wires
  • #73,990
  • Sep 5, 2010 3:31am Sep 5, 2010 3:31am
Quoting cprao
Thank you Ad.

I still have account with tradeking.com (not using actively) for stocks and options. Their fee is very reasonable. I have not used their system for anyalysis except for simply buying and selling.

I still don't have a method to buy options based on the stock prices/charts....
Yes this is one thing I still learning myself. There are just too many variables to option trading. But if we talk about just buying call or put (no strategies) I have noticed that many speculators would go for just "At the Money" - look for the strike price closest to the market one but before it. And please don't ask what if the stock will go $3 how much your option at the money will gain, lol, this is just crazy thing I am struggling to learn myself now... lol. In the thinkorswim there is an Analyzer, that could suggest you a possible option cost if your underlying will go say +/- %.

Those are complicated, but If these concepts (J16) will work with stocks, I don't care how much time and effort it will take me but I will learn Options to the extend I could call myself a Pro! The effort will be worth it

For now yes I just kinda copy the Pros, buy at the money with extended time to expiry - and that is mostly all I understand...
  • #73,991
  • Sep 5, 2010 4:38am Sep 5, 2010 4:38am
I think one of the big advantages we have with J16 is that we can apply it to other markets such as stocks, options etc.

I use the scanner at stockcharts.com, or worden gives a good inexpensive tool - you can start with freestockcharts.com and use daily and weekly charts without problem.

Options : time is NOT in your favour ( except for selling options, what many pros do ). Example : you expect price to reach a certain level by a specific date. Technically everything could look good for you. But how do you adjust if there is a retracement and then a ranging market for quite some TIME, before it goes in your favour ( hopefully )....?

If you are still building your capital base, I would use forex, and if options then simple fixed options such as betonmarkets or eztrader. NOT the hourly ! But there you dont have the time factor as in normal options. You can wait for A+ setups to appear ( like mike, jarroo or jim describe ) and then take simple " will be higher/lower than now " bets. It is not exactly trading, but I know of some people who are busy with their jobs and for them it is a " layman`s " alternative to our efforts.

But whatever method is used, I have found location and confluence of several criteria to be most important.

Hope this helps.

Will post charts next week, good weekend to all !
Be like water.
  • #73,992
  • Edited 5:23am Sep 5, 2010 5:08am | Edited 5:23am
Any seniors (Ghous?) have any comments on the 2 IBPs on NZD/JPY weekly?

Looks pretty bearish overall but could also be the beginning of a range?

I know the IBPs aren't at a swing high and last week's one is a failed PB (straight into traffic). Also momentum on MACD looks a bit thin..

A break below 60.00 down to ~57.00 would be nice with a stop above the high of the IBPs would be nice though

Or maybe watch and wait to see if it goes up and bounces off the upper TL? *EDIT* That would be too much traffic if it did that...
Attached Image (click to enlarge)
Click to Enlarge Name: nzdjpy_weekly.gif Size: 14 KB
Anything can happen.
  • #73,993
  • Sep 5, 2010 5:12am Sep 5, 2010 5:12am
I have a question to James16 members, I have read the first post of this thread, I'm not going to read the 5,000 pages, just want to know the answer to a simply question:

How many pips on average do tipically a month a James16 member?

Thanks.
  • #73,994
  • Sep 5, 2010 5:16am Sep 5, 2010 5:16am
Quoting Trad3r
I have a question to James16 members, I have read the first post of this thread, I'm not going to read the 5,000 pages, just want to know the answer to a simply question:

How many pips on average do tipically a month a James16 member?

Thanks.
People trade weekly/daily/4 hour/1 hour and shorter timeframes.

There are no average monthly pips - if there were there wouldn't mean that much. % return might be a more accurate measure but there are people of varying levels of experience so again it wouldn't mean very much.
Anything can happen.
  • #73,995
  • Sep 5, 2010 5:34am Sep 5, 2010 5:34am
Quoting ddinnov
any comments on the 2 IBPs on NZD/JPY weekly?
...
IPBs?
those look like PBs to me.
i think u are confusing PBs with IPBs.
i suggest u re-read about IPBs..
  • #73,996
  • Sep 5, 2010 5:45am Sep 5, 2010 5:45am
Quoting Trad3r
...I'm not going to read the 5,000 pages.
How many pips on average do typically a month a James16 member?
....
indeed it is a simple question, but the answer is not equally simple.

i cant help but feel like u are asking "what is my employment salary with J16 company?"
newer traders are always after the answer to 'how many pips can i make with this method?'

i never went into employment mainly because i dont want a 'ceiling' in what i can earn.
trading is a business, trading is very personal & therefore monthly profit is variable ---- -$$ (negative $) up to $ infinity



''im not satisfied with the salary offered by J16 company, therefore i wont work there (i wont read the thread)"
  • #73,997
  • Sep 5, 2010 5:56am Sep 5, 2010 5:56am
Quoting oneuniverse
Hello guys!

entered USD CHF buy on live A/c

Reasons

1) H4 pin bar off from BRN 1.0100
2) prior H4 bars were side to side and this pin took all the stops out.

3) See the price is off from weekly trendline and BRN

4) Nice H4 pin in space and also at extreme

5) Price off from Weekly Pivot S2 and Daily Pivot S1

Risk: 1% of A/c

Best Wishes
Winston Dsouza

Looks like some reversal is building up long term here...
Just placed a long but not as much as 1% risk

I'll pyramide if the bull speed is sufficient next couple of days... Still in I assume?

Hopefully we will not test 0.9900
  • #73,998
  • Sep 5, 2010 5:58am Sep 5, 2010 5:58am
Quoting Trad3r
I have a question to James16 members, I have read the first post of this thread, I'm not going to read the 5,000 pages, just want to know the answer to a simply question:

How many pips on average do tipically a month a James16 member?

Thanks.
LOL, at least you are very honest!
  • #73,999
  • Sep 5, 2010 6:11am Sep 5, 2010 6:11am
Quoting Adilius07
LOL, at least you are very honest!
Honesty, huh?
to be honest, i have only read about 1/5 of this huge thread (still reading)... & yet i have learned A LOT
the point is dont stop at Post1. read some more, & more... & more (to learn more)
  • #74,000
  • Sep 5, 2010 6:17am Sep 5, 2010 6:17am
Quoting supremeChaos
IPBs?
those look like PBs to me.
i think u are confusing PBs with IPBs.
i suggest u re-read about IPBs..
Oops! You're right they are PINs, I was looking at the charts and had such a bearish bias/idea in my head that I saw them as IBPs instead of PBs...

>>Must learn to look at charts without bias and fixed ideas<<

Anything can happen.
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