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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

  • #74,041
  • Sep 5, 2010 9:27pm Sep 5, 2010 9:27pm
Quoting supremeChaos
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....

fantastic visualization

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




awesome post & pics. Many thanks!


most who have studied Chinese (& perhaps 'some' Japanese)...


Thanks for the info SC.

I see it did hit its FTA, after the fact.


Yeah, I believe Japanese is a much easier language to learn than Chinese.

That said, I have to start learning Chinese soon as we may be moving there next year. Chinese is harder as there is no Hiragana or Katakana for foreign nouns, everything is written in Kanji and generally old Kanji.

JAYOU.
  • #74,042
  • Sep 5, 2010 11:14pm Sep 5, 2010 11:14pm
Quoting supremeChaos
why exit audusd?
im still waiting for 0.92 - 0.94, even parity area... with or without me riding it
Trade has played out - there is pretty limited upside for AUDUSD, plenty of downside. IR differential + (probability of a bullish move)(potential upside pips) isnt worth enough to keep my money tied up in it.

Looking for some nice longterm short entries.

Quoting supremeChaos
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
I hope so - i'd be happy for y'all to bid into me
When you have to shoot, shoot. Dont talk.
  • #74,043
  • Edited 11:58pm Sep 5, 2010 11:31pm | Edited 11:58pm
Quoting msmarple
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 )....?
Listen to this man.

Not only are you fighting against time decay (long expirations only work if you sell them while they are still a long way out from expiration), in this market you also have to worry about the volatility spread you are paying contracting.

So, trading your spot fx, you just need price to go in your direction (and the spread to behave, I guess). Move to options, and all of a sudden, on top of having price go your way, you need to choose the right strike and expiration to have the delta, gamma and theta working in your favour... and the vega might still screw you over. Get just one of these wrong and your trade can go sideways or south.

Most people lose money in options and they really, really arent for beginners. I have dozens of stories where someone has bought options, the trade has gone their way and they have still lost money. Like, literally dozens.

Many involving me

If you really want to trade leveraged stocks, do it with a margin loan or CFDs. Or, possibly, have a look at why you think you have to trade leveraged...Or get yourself a copy of Hull and start workin on a headache

(alternatively, Getting Started in Options is quite good and easy to understand).

Quoting Adilius07
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...
Pros arent buying atm long expo options. They are selling them to guys like you
When you have to shoot, shoot. Dont talk.
  • #74,044
  • Sep 5, 2010 11:37pm Sep 5, 2010 11:37pm
Quoting Pinbar
pics
I'm sad that I had to cancel my Japan trip this year. It looks like such a cool place to see. Cool view you have!


Quoting Synergistik
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.
I suspect the married guys here will tell you the opposite
When you have to shoot, shoot. Dont talk.
  • #74,045
  • Sep 5, 2010 11:55pm Sep 5, 2010 11:55pm
Quoting joelcf
I'm sad that I had to cancel my Japan trip this year. It looks like such a cool place to see. Cool view you have!




I suspect the married guys here will tell you the opposite

If you planned it for this summer, you should be glad.
Also the yen rate makes it a very hard place to visit.
  • #74,046
  • Sep 5, 2010 11:58pm Sep 5, 2010 11:58pm
Ok, here I am on a bank holiday simulator trading. Maybe I need a hobby but, this is so interesting, who needs a hobby.

Anyway, I took the small BEOB and was stopped out, the IB4 and the massive BUOB more than made up for the SL on the first BEOB.

trading full lots just to see how the big guys feel. LOL


Wonderful this simulator.
Attached Image (click to enlarge)
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  • #74,047
  • Sep 6, 2010 12:08am Sep 6, 2010 12:08am
Quoting Trad3r
... just want to know the answer to a simply question:
....How many pips on average do tipically a month a James16 member?
....
Quoting Trad3r
....
You know nothing about me, I could stay here and maybe give you some lessons, but, for what? Why teach people how to make money in forex if they are making money already selling smoke to other people?
.....
u enter like a bomb, asking how many pips bla bla.
then the next post, u say u can give us lessons?!?!
i dont understand

Quoting mbqb11
indeed
There is 4935 pgs of free info here and damn good info.
Not going to beat this dead horse lol
Sooner we get back to trading the sooner the noise goes away , I promise, it was 3-4 month time for it anyway. Anyone find that post I made
LOL
this latest one? your wish is my chocolate (im talented at digging, u know)
  • #74,048
  • Sep 6, 2010 12:16am Sep 6, 2010 12:16am
Quoting joelcf
Most people lose money in options and they really, really arent for beginners. I have dozens of stories where someone has bought options, the trade has gone their way and they have still lost money. Like, literally dozens.

Many involving me
Same here, Joel. The worst thing is if you start buying calls during a massive downturn and you don't know what you're doing (that's me). I did that in around Nov-Dec 2008 when VIX was in the high 50/60s. Needless to say I got served.
If you don't risk, you don't ever have to lose.
  • #74,049
  • Sep 6, 2010 12:22am Sep 6, 2010 12:22am
Quoting Pinbar
Also the yen rate makes it a very hard place to visit.
It isnt too bad, especially with budget flights - you can pick up a return for under five hundred bucks - and such strong competition in the tourist market...but yeah, the yen is a bit too strong, especially when compared to the alternate

Attached Image (click to enlarge)
Click to Enlarge Name: AUDXPF.png Size: 17 KB


That's a hell of a BEOB, and looks like a strong PPZ at 85.00
When you have to shoot, shoot. Dont talk.
  • #74,050
  • Sep 6, 2010 12:22am Sep 6, 2010 12:22am
Quoting joelcf
....
I hope so - i'd be happy for y'all to bid into me
ooops, that doesnt sound good (i maybe talking to one of the SNB guys) hahah
Quoting joelcf
....
I suspect the married guys here will tell you the opposite

Quoting Pinbar
If you planned it for this summer, you should be glad.
Also the yen rate makes it a very hard place to visit.
i presume he regularly pre-plans... & he already has tons of Yens to dispose of.
  • #74,051
  • Sep 6, 2010 12:25am Sep 6, 2010 12:25am
Quoting Trad3r
You know nothing about me, I could stay here and maybe give you some lessons, but, for what? Why teach people how to make money in forex if they are making money already selling smoke to other people?
Well, come on, I know 5000 pages is daunting, but you really did not make even a token effort.

I think you have just made the worst possible mistake in trading and are well on the road to trading failure, or are probably well into it at this stage.

You seem to have no problem with increasing your EGO Equity, unfortunately this is the only equity we want to deplete.

This alone will destroy you as a trader and unless you get to grips with it, you will not succeed in anything, especially trading.

Perhaps, you could be of strong character and admit your failings, take a deep breathe, make an apology and an effort to read about this system.

I am sure these guys are big hearted enough to forgive you and even help you come to grips with trading.

And as others have said, NOTHING is being sold in this thread.


After reading this post, I feel really sad for James16 and understand why he does not hang out here very often with people like this guy around.

It is a great shame but then again, look at the hundreds of good people in this thread, their actions in unselfishly helping people speak louder about James16 and his system, than any words can.
  • #74,052
  • Sep 6, 2010 12:33am Sep 6, 2010 12:33am
Quoting joelcf
It isnt too bad, especially with budget flights - you can pick up a return for under five hundred bucks - and such strong competition in the tourist market...but yeah, the yen is a bit too strong, especially when compared to the alternate

Attachment

That's a hell of a BEOB, and looks like a strong PPZ at 85.00

The problem is, $5.00 for a coffee in MacDonals's.
  • #74,053
  • Sep 6, 2010 12:38am Sep 6, 2010 12:38am
Quoting Pinbar
The problem is, $5.00 for a coffee in MacDonals's.
i believe Sir joel thrives in & breathes coffee, so price is never a hindrance
  • #74,054
  • Sep 6, 2010 12:54am Sep 6, 2010 12:54am
Quoting supremeChaos
i believe Sir joel thrives in & breathes coffee, so price is never a hindrance

yeah, he was probably in on this BUEOB and just closed it.

Probably 20 trips to Japan on this one, including all the coffee one can slurp.


I dream on!
Attached Image (click to enlarge)
Click to Enlarge Name: AUDXPF.png Size: 33 KB
  • #74,055
  • Sep 6, 2010 1:57am Sep 6, 2010 1:57am
Hi everybody,

Can someone please explain why when I tried to put on a trade it said ' Invalid SL or TP'?

I plan to buy the eur/chf at 1.3175, SL at 1.2850 with TP at 1.3260.

Any help would be great.

Anthony
  • #74,056
  • Sep 6, 2010 2:05am Sep 6, 2010 2:05am
Hello Anthony,
be sure to check & re-check the values u input....
& the type of order (instant execution or pending order).
  • #74,057
  • Sep 6, 2010 2:08am Sep 6, 2010 2:08am
Quoting supremeChaos
Hello Anthony,
be sure to check & re-check the values u input....
& the type of order (instant execution or pending order).
Hi Supreme Chaos

My volume is 0.03 and I want a Pending Order

Cheers
  • #74,058
  • Sep 6, 2010 2:13am Sep 6, 2010 2:13am
Quoting antgal23
Hi Supreme Chaos

My volume is 0.03 and I want a Pending Order

Cheers

Hi Supreme Chaos

Yeah, I had the order at Buy Limit when it should have been Buy Stop.

Thanks for your help
  • #74,059
  • Sep 6, 2010 2:14am Sep 6, 2010 2:14am
Quoting antgal23
Hi Supreme Chaos

My volume is 0.03 and I want a Pending Order

Cheers

Hey anthony,

Some brokers does not alow sl or tp to be set on executing market orders, you first have to innitiate the order then set your sl and tp. But as you are using a pending order this will not affect you. Double check your values on tp and sl to see if it is correct and far enough away from current price, check also if your broker has 5th decimal pricing and if your prices are correct keeping this in mind, can't think of any other reason your sl and tp does not work.
Thank you j16!
  • #74,060
  • Sep 6, 2010 2:20am Sep 6, 2010 2:20am
Not much movement today, eurusd and audusd at new highs, but no strong momentum. Bank holiday in US and CA.

We will see more tomorrow.

( Edit : LC = Long Candle, no specific J16 bar )
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Be like water.
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