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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

  • #74,481
  • Sep 9, 2010 9:30pm Sep 9, 2010 9:30pm
Quoting mission
I dont know how to communicate well over the net, but newbie helping out newbies, I just want to say that you just cant be spoon fed PASR. SC was right about me needing to go back and read and reread. I actually feel like an idiot asking some of the questions I did now.

Honestly, I dont know how to say this without offending anyone or sound contradictory to the above, but the info on this thread just overloads my brain, it seems the more I read the less I know how to act. The videos on the PF is awesome, james16 and Mike rock!!!! All my questions...
Awesome Kim, glad to hear your progress and hope you have many more lights go on. It will be an up and down road, but continued progress
  • #74,482
  • Sep 9, 2010 10:18pm Sep 9, 2010 10:18pm
Got it PB. Cheers!
  • #74,483
  • Sep 9, 2010 10:18pm Sep 9, 2010 10:18pm
For any Australians looking for a micro MT4 broker, two things came to my attention today:

1) IBFX has opened an Australian branch.
2) Hayley from IBFX sounds smoking hot.
When you have to shoot, shoot. Dont talk.
  • #74,484
  • Sep 9, 2010 10:21pm Sep 9, 2010 10:21pm
Quoting forexben
Got it PB. Cheers!
Okidoki, good trading to you and let me know if you have any problems with those files or template.

You may need to change the "SHIFT LINES" to 30 on the sweetspots gold modified indicator, depending on how large or small you look at the screen.
  • #74,485
  • Sep 9, 2010 10:39pm Sep 9, 2010 10:39pm
Quoting mbqb11
I don't personally, as the whole idea for me of an outside bar is that it is taking on a range. If it's range is pretty small I feel the info begins to lack a bit. For example in that one above it looks more neutral to me even though one could say it is a BEOB

Mike
Thanks Mike. Never thought of it as "taking on a range". Different perspectives really start to make it sink in.
  • #74,486
  • Sep 9, 2010 10:46pm Sep 9, 2010 10:46pm
Quoting KissFan
A few things I look for in a BEOB/BUOB.

1. Did it close with conviction. I want my bar to close at or better than 85% of the range.

2. Is it a t a swing High/Low or in a range.

3. If BUOB did it close above nearest PPZ? If BEOB did it close BELOW nearest PPZ? Where is my next PPZ?

Much, much more to explore and observe but I'd start here andd pass on this one for many reasons even though there was some $ to be made. We see way better PA all the time. You will get the hang of this I am sure as you are asking all the right questions my friend....
On part 1 do you mean that 85% of the bar makeup has to be between its open and its close?
  • #74,487
  • Sep 9, 2010 10:57pm Sep 9, 2010 10:57pm
Quoting ghous
Thnx Bill - I think I am sort off faking the accent, or rather trying to.
Ghous,
I am not sure whether you faking your accent or not, but I can state that your delivery is perfect (never mind if you did retakes) and your accent is not the typical Pakistani accent. May be you went to British school or were taught by Britishers and as such your accent is different than my Punjabi bretheren.
Being a Punjabi I can easily spot the Punjabi acentuated English accent.

Keep the videos coming and don't worry about the accent.
BTW Eid Mubarrak to all Muslims brothers.

Cheers
Novice 198
  • #74,488
  • Sep 9, 2010 10:57pm Sep 9, 2010 10:57pm
Quoting ghous
Hey Spookie,

You end up hitting the wrong road the moment you decide to alter trade/money management strategies for a "small account".

Stop placement is more of a discretionary thing than a rule set in stone but conventionally you want your stops to be at the opposite end of the trigger bar. If you are thinking about reducing your stop on a 150 pip pin bar just cuz you are on a small account and that you want every pip you make to be well worth it, then that's really going to get you in a hole because before you know it you're jumping in with...
Thanks G. Ive passed on a few trades because the SL was IMO large. If I can't find another possible area of S/R I usually pass. I feel I just need to trust the method more and let it do what it is going to do.
  • #74,489
  • Sep 9, 2010 11:01pm Sep 9, 2010 11:01pm
Quoting joelcf
For any Australians...
2) Hayley from IBFX sounds smoking hot.
u talked to her? for how long?
IBFX has a great marketing staff

(i initially misread it as 'looked smoking hot'... LOL)
  • #74,490
  • Sep 9, 2010 11:07pm Sep 9, 2010 11:07pm
Quoting Dan Gilbert
I'll add my two cents to this....

Make a very very small initial deposit. James says to deposit half of what you eventually plan to trade AFTER you are profitable for 3 consecutive months on demo.

The way I see it, my reward for being patient, is the ability to devote more money to trading.

You should have your money lined up, but you can not trade it until you can prove to yourself that you are capable.

If you just keep depositing and losing, don't expect a very good experience from trading.

If I finish up this month in profit, I will...
I actually started like James suggested. Demoed for 4 month (3 profitable, 1 BE). Started small live acct July 1 (4 wins, 1 be, 1 loss to date). Decided to only risk a max of 1% for 6 months.

I guess I'm overly causious. But I have to prove it to myself that its not just luck and maybe I am starting to "see the big picture".
  • #74,491
  • Sep 9, 2010 11:13pm Sep 9, 2010 11:13pm
Quoting spookie94
I guess I'm overly causious. But I have to prove it to myself that its not just luck and maybe I am starting to "see the big picture".
Good point Sir!
  • #74,492
  • Sep 10, 2010 12:05am Sep 10, 2010 12:05am
Quoting supremeChaos
u talked to her? for how long?
Long enough to decide that she is almost definitely hot
When you have to shoot, shoot. Dont talk.
  • #74,493
  • Sep 10, 2010 12:11am Sep 10, 2010 12:11am
Quoting joelcf
Long enough to decide that she is almost definitely hot
Next time you talk to her, just remember your signature.
  • #74,494
  • Edited 12:17am Sep 10, 2010 12:17am | Edited 12:17am
Quoting aserbfx
here you go...
went short with a really big size and took profit with 2/3 of the the size with +30 pips. thanks to the james16 ea trade manager.
stop for the last third at BE +1 pip.
rock on!
meine augen sind die sterne
  • #74,495
  • Edited 2:26am Sep 10, 2010 12:20am | Edited 2:26am
Quoting The Lord
Next time you talk to her, just remember your signature.
Unfortunately, it would be my fiancee doing the shooting


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When you have to shoot, shoot. Dont talk.
  • #74,496
  • Sep 10, 2010 1:42am Sep 10, 2010 1:42am
Quoting joelcf
Unfortunately, it would be my fiancee doing the shooting
does she look like Kate Beckinsale?
is she Kate Beckinsale?

if not... uh oh.
what happens to Kate Beckinsale?
  • #74,497
  • Edited 3:06am Sep 10, 2010 2:49am | Edited 3:06am
At Long last, it is starting to cool down here with only 32C average day temps and cooler nights. I feel much better being able to sleep without the AC on.

Anyway, my head is back together again.

just found a nice PB on EU, the traffic was too much and too close for my liking & the close below the RN but, it seems to have broken the FTA at the green daily PPZ.

Anyone take it?


EDIT:

Maybe we will see some decent Bearish PA off the 365 & 150 EMAs, aligning themselves with the 50 fibo and the 1.2800
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  • #74,498
  • Sep 10, 2010 3:07am Sep 10, 2010 3:07am
Quoting aserbfx
went short with a really big size and took profit with 2/3 of the the size with +30 pips. thanks to the james16 ea trade manager.
stop for the last third at BE +1 pip.
rock on!
I took this too. set my limit to 9210 and woke up to pips for breakfast!
  • #74,499
  • Sep 10, 2010 3:21am Sep 10, 2010 3:21am
Made my goal for the week. Took a nice strong pb on the GBP/USD hourly this morning. I am done for the week. Will see you guys again on monday.
Thank you j16!
  • #74,500
  • Sep 10, 2010 4:43am Sep 10, 2010 4:43am
Quoting Chelski
I took this too. set my limit to 9210 and woke up to pips for breakfast!

the setup was fantastic. one of high probability-setups. did what we expected...
good pips! good money! yes!
meine augen sind die sterne
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