james16 Chart Thread | Page 3844 | 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

  • #76,861
  • Oct 7, 2010 9:40pm Oct 7, 2010 9:40pm
Quoting ghous
It didn't close below your ppz PB but should be interesting to see where a hard break takes us? 84.3? maybe...

The big man hardly ever notices the news but this time he's upon it like a tonne of bricks, lol...when he says watch out...

lol.

g.

Thanks Ghous.

Yes, I am just observing, today. In fact I am just observing all the time recently and it is driving me insane.
  • #76,862
  • Oct 7, 2010 9:45pm Oct 7, 2010 9:45pm
i will share something with all of you that mike does not even know. there are 4 or 5 "onlydragons" here that are under different usernames that are now everyday contributors that at one time came after me in some form like dragon.

if one of them wants to step up and admit that i would be tickled pink but they dont have to.

there are two guys that post here everyday that your jaw would drop if they told you who they "used" to be.

you would have to be an old timer though.

bottom line is this.

i care about dragon. he pisses me off for sure but he gives me a chance to grow from a spiritual standpoint.

there is an old story of the buddha that goes like this.

the buddha was travelling with two men. one a devoted follower and another that threw insults at him constantly for 3 days.

the good follower asked him why he did not get mad and seemed to enjoy the insult throwers company more than his?

the buddha replied simply.

why would i get mad at or get rid of such a blessing?

i aint the buddha thats for sure but i "get" the story and its true.

your life is always a million times better when you respond to life rather than reacting. responding takes practice and hard work. reacting is easy and you might as well be asleep dreaming. its the same thing.


Quoting ghous
Maybe it's just me but I adore the thought of only dragon struggling for attention if we could just leave him saying what he wants with no response (until he swings the axe on his own toes and get's kicked out of FF for good)

poking us might probably be the only thing this 12 year old's looking for...

g.
  • #76,863
  • Oct 7, 2010 9:51pm Oct 7, 2010 9:51pm
Quoting jarroo
Nice trade xmz...

I couldn't resist . .(Chart) . . .
Hi Jaroo, I just asked Zhang a few posts back regarding his chart.
On his chart, there is no more retracement after the completion of the 4H PB unlike your chart.
Would you be so kind to confirm that I am right?

CY
  • #76,864
  • Oct 7, 2010 9:51pm Oct 7, 2010 9:51pm
Quoting james16
there are two guys that post here everyday that your jaw would drop if they told you who they "used" to be.
Mike and Jim
When you have to shoot, shoot. Dont talk.
  • #76,865
  • Oct 7, 2010 9:56pm Oct 7, 2010 9:56pm
Quoting mbqb11
Another thing I wanted to add. And again this is how I look at things.

If I gave you 3 trades for the entire month. I said Doom after those 3 you can not trade under any circumstances till the next month. Would you waste a bullet on that trade? Now go back over your trades you have taken and ask yourself that question. Better yet, try that. 3-5 trades and you close up for the month. Your outlook is going to change greatly. Once you can see what being profitable is, even a slight amount, you won't want to put yourself in as many bad situations....
I was wondering if you or any other seniors had a similar rule to prevent overtrading?
Per month: 1-2 weekly, 3-5 daily, 5-8 4hr, 8-12 1hr? Just curious.
  • #76,866
  • Oct 7, 2010 9:57pm Oct 7, 2010 9:57pm
Quoting joelcf
Mike and Jim
def not me LOL although that would be extra kicker. I have no idea either. I still believe Jim is an ex yankees fan at heart and will come clean to me about that one day
  • #76,867
  • Oct 7, 2010 9:58pm Oct 7, 2010 9:58pm
Quoting cprao

so Mike, one more question, once the PA is formed, do you take the trade in a conventional way -- like Buy/sell - above/below the bar.. SL is on the other side of the bar.
yep I treat it like every other PA bar. I am not fancy. I plain suck at being fancy at this point in my trading. So I keep it simple for the most part. I like to think it keeps me level headed for the most part

Best
Mike
  • #76,868
  • Oct 7, 2010 9:59pm Oct 7, 2010 9:59pm
yeah i traded into a bearish bar.

one of the reasons i went to breakeven so quickly.

good observation.

i wondered if anyone would see it.

jim

Quoting Pinbar
I guess this is where the feed is important.

I mean, I am sure not many would take the break of the IB against that bearish bar on my feed.
  • #76,869
  • Oct 7, 2010 10:01pm Oct 7, 2010 10:01pm
Quoting james16
i will share something with all of you that mike does not even know. there are 4 or 5 "onlydragons" here that are under different usernames that are now everyday contributors that at one time came after me in some form like dragon.

if one of them wants to step up and admit that i would be tickled pink but they dont have to.

there are two guys that post here everyday that your jaw would drop if they told you who they "used" to be.

you would have to be an old timer though.

bottom line is this.

i care about dragon. he pisses me off for...
I can't say for anyone else but I have been mocking at James when I first came here too (literally mocking)...never in a post though (probably I had a gut feeling I was more responsible for the lack of success than anyone else). It happened when I entered into a loosing streak after some "beginner's luck" and I threw everything out at a piece of paper that I still have.

Point is you could always criticize constructively. I don't know what it would take to control myself if someone threw comments at me like only dragon did (If I were Jim) only for the hard work that I have put in to help newbies for 5 FrIgGiNg YEARS!!!!!! I know Jim has that "thing", that controlling device in him though and so do many other folks here, which makes this place so great!

g.
I believe . . .
  • #76,870
  • Oct 7, 2010 10:02pm Oct 7, 2010 10:02pm
8 years of losing fixed me but this is something i posted many years ago.

i still get positive emails about this.

100 Pips Per Month
Here is an example of why trading smart can be a door to success. At the start of the month you decide on one or a set of pairs you want to trade. Your goal is 100 pips for each pair for the month. The first and all trades you take whether it happens on the first of the month or the twentieth will be the best set up your system can give within reason. No fudging, no borderline trades for that pair until you reach one hundred pips. now this is going to help you in several ways. If your system is not viable you are going to know it very quickly. If it is, you are going to build confidence and train yourself not to shotgun trades. If your system is any good at all you will have at least 4 or 5 winners from the first set of trades. You trade like this until you have the 100 pips per pair. For 20 trading days a month, not counting sundays, thats 5 pips a day. This is not hard if you take only your very best set ups regardless of how rare during the month they may be. Once over 100 you cannot drop below that 100 you have banked. Lets look at the numbers. With a 10,000 account risking 3 percent per trade with a 30 pip stop on your trades will allow you 10 mini lots.Trading 6 pairs at 100 pips each for the month will grow your account to 16,000. Now why not try 50 pips or even 25. 25 equates into a 1500 profit. The main point is this. You can grow an account quickly and at the same time trade in a conservative manner. The best of both worlds.

Quoting spookie94
I was wondering if you or any other seniors had a similar rule to prevent overtrading?
Per month: 1-2 weekly, 3-5 daily, 5-8 4hr, 8-12 1hr? Just curious.
  • #76,871
  • Oct 7, 2010 10:03pm Oct 7, 2010 10:03pm
Quoting mbqb11
def not me LOL although that would be extra kicker. I have no idea either. I still believe Jim is an ex yankees fan at heart and will come clean to me about that one day
Lol. you guys and your yankees and rangers.
I believe . . .
  • #76,872
  • Oct 7, 2010 10:04pm Oct 7, 2010 10:04pm
your a true blessing g.

in my top 5.

Quoting ghous
I can't say for anyone else but I have been mocking at James when I first came here too (literally mocking)...never in a post though (probably I had a gut feeling I was more responsible for the lack of success than anyone else). It happened when I entered into a loosing streak after some "beginner's luck" and I threw everything out at a piece of paper that I still have.

Point is you could always criticize constructively. I don't know what it would take to control myself if someone threw comments at me like only dragon did (If I were Jim) only...
  • #76,873
  • Oct 7, 2010 10:04pm Oct 7, 2010 10:04pm
Quoting geomink
thanks Mike, really appreciate it
I stop my trading for now
see you next months
best
take a few days off then demo for a while. That way your still getting experience. There will always be another trade so don't fret about not going live for now.
  • #76,874
  • Oct 7, 2010 10:07pm Oct 7, 2010 10:07pm
Quoting cprao
I am the guilty of the same mistake. Before I put an order I was looking here did any one talk about this ? I didn't see any..nor I put one.. when I was in the deep water (Demo), I saw your post in the morning that you were still waiting for a PA bar on retrace..
Another lesson learned.. wait for a PA after the break.. Break is not trade.

so Mike, one more question, once the PA is formed, do you take the trade in a conventional way -- like Buy/sell - above/below the bar.. SL is on the other side of the bar.
Hi Cprao, were you refering to the AUJP charts?
If so, I think you meant putting a buy order right above the top of the consolidation box right?
Why, in that case there should be some amt of profit because price broke hard ,didn't they?
I understand that setting a TP is another story but in this particular case there was almost 40pips of profit, wasn't there?
Thanks.
Attached Image (click to enlarge)
Click to Enlarge Name: wewe.gif Size: 13 KB
  • #76,875
  • Oct 7, 2010 10:07pm Oct 7, 2010 10:07pm
i dont even know what to say to that.

my kid is though.

i will admit that much.

mike sent him a jeter joursey straight from yankee stadium and it aint seeing the light of day until the season is over.

he has been warned.

hes so worried about it he has hidden it somewhere.

if its yanks and rangers and i get to drinking a bit im liable to burn it and he knows it.

lololol



Quoting mbqb11
def not me LOL although that would be extra kicker. I have no idea either. I still believe Jim is an ex yankees fan at heart and will come clean to me about that one day
  • #76,876
  • Oct 7, 2010 10:09pm Oct 7, 2010 10:09pm
Quoting joelcf
Mike and Jim

Haaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaa

You have a great sense of humor Joelcf.
  • #76,877
  • Oct 7, 2010 10:10pm Oct 7, 2010 10:10pm
Quoting chips
Daily PB short @ 1.5871, I'm too agressive but I have to prove that PB works for me.
Reason:
price opened up below the BRN 1.900 and it is below the daily PPZ swing FIB zone ( between 61.8 and 38.2)
let see we are testing 1.5860.

Peace..
No offense mate, but your chart is harder than hell to read/look at
  • #76,878
  • Oct 7, 2010 10:15pm Oct 7, 2010 10:15pm
Just moved to H1 to see how EU found support and moved up.

EU has a mini H&S forming on H1..Could be the start of the reversal?
Attached Image (click to enlarge)
Click to Enlarge Name: 1.jpg Size: 110 KB
  • #76,879
  • Oct 7, 2010 10:20pm Oct 7, 2010 10:20pm
Quoting ertorque
Hey Zhang, correct me if I am wrong but based on your H4 and M15 charts, it looks like your 15m TF PB is formed while the 4H PB is still forming.
Your chart shows that after 4H PB is formed, price never reaches the 15955-ish level that you claimed to be a 4H-PPZ.
I would have thought that one would only look for PA down lower TF AFTER the signal on the higher TF is identified. In this case the 15m PB is observed within the 4H PB.
Is this acceptable by the seniors within J16 circle?

CY
Quoting ertorque
Hi Jaroo, I just asked Zhang a few posts back regarding his chart.
On his chart, there is no more retracement after the completion of the 4H PB unlike your chart.
Would you be so kind to confirm that I am right?

CY
Hey CY


The 15min PB did form after the 4 hour PB was formed at that retracement level.

I know it did on this meta trader 5 feed and I'm sure it did on xmz's feed as well.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: GBPUSDH4a.jpg Size: 79 KB
Click to Enlarge Name: GBPUSDM15a.jpg Size: 82 KB
Indicators show the past. Price Action "Indicates" the future.
  • #76,880
  • Oct 7, 2010 10:23pm Oct 7, 2010 10:23pm
Quoting joelcf
Mike and Jim

I must confess . . . .
Indicators show the past. Price Action "Indicates" the future.
59 traders viewing now