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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

  • #81,461
  • Dec 2, 2010 10:16am Dec 2, 2010 10:16am
Ghous and Benji up in the mix!

Great to see both of you, especially with Benji being gone for so long. I have studied both your posts so much. The next up and coming guy is xmz. I don't know where he came from, but he has learned this system with Benji and Ghous like speed!
  • #81,462
  • Dec 2, 2010 10:17am Dec 2, 2010 10:17am
Quoting ghous
Now I see why that stop was ultra tight. Well trying to reduce stop size to increase your position size is a BAD idea even with an A+ setup. A lot of times such a thought process gets triggered when you wonder "Ok here we are, with a 140 pip stop and the FTA 30 pips away, let me cut this down to 60 pips so I can at least get hooked up with a 0.5R runner - and hey this setup looks good to shoot for the moon anyways"


g.

Just to clarify a bit here G if I may cause some will be confused. It is ok to have a reduced stop to get a larger position size if it fits into what you do(not just willy nilly like G said). Many traders start with their stop much higher then under the bar with the understanding of the drawbacks and advantages.

There are trade offs in everything we do as traders. We have to accept them within our methods

Best
Mike
  • #81,463
  • Dec 2, 2010 10:23am Dec 2, 2010 10:23am
I got taken out of NZD/JPY and EUR/USD. Luckily at B/E for both though.

Picky picky picky.
Anything can happen.
  • #81,464
  • Dec 2, 2010 10:26am Dec 2, 2010 10:26am
Quoting mbqb11
Just to clarify a bit here G if I may cause some will be confused. It is ok to have a reduced stop to get a larger position size if it fits into what you do(not just willy nilly like G said). Many traders start with their stop much higher then under the bar with the understanding of the drawbacks and advantages.

There are trade offs in everything we do as traders. We have to accept them within our methods

Best
Mike
yup, that would be the flip side of the coin I failed to address.

Nothing wrong of course if you have a proven method where you consistently go in with tight stops and it works for your trade management strategies and mindset. Hell that's what Jarroo does day in day out.

Spookie mentioned he tightened the stop on that very trade majorly to improve his position size which got me going,

Thnx for clarifying Mike.

g.
I believe . . .
  • #81,465
  • Dec 2, 2010 10:30am Dec 2, 2010 10:30am
Quoting unlv_tj
Ghous and Benji up in the mix!

Great to see both of you, especially with Benji being gone for so long. I have studied both your posts so much. The next up and coming guy is xmz. I don't know where he came from, but he has learned this system with Benji and Ghous like speed!
Zhang isn't alone that's for sure. I admire the way Pin bar has matured off and so many others, I am sure James would be very very proud of the progress of the group.



g.
I believe . . .
  • #81,466
  • Dec 2, 2010 10:33am Dec 2, 2010 10:33am
Quoting xmzhang
I've zoomed in a bit on the 1H-TF for clearity. Because this is a daily setup, I prefer to look for PA on a 1H-TF, using the 4H-TF is somewhat to large so you could miss some smaller movements, the 15m-TF is too noisy for a daily setup. Do you notice that 1H-BUOB closing above the RNB @ 6300 ? Entry at the previous 1H-bar high, a touch trade off the 6300 would've been another possibility but I prefer PA. As you see that news bar just stopped me out
Also notice divergence, buyingpressure was dissipating, this could be a reason to close the...
So basically you look for a setup on the daily, but drop down to the 1H to trade from. Daily states what direction you want to go, but trade off the 1hr.
  • #81,467
  • Dec 2, 2010 11:10am Dec 2, 2010 11:10am
adidas on daily.
ads shows weakness now. broke through the 50 eur, but closed (little) below and didn't move further. divergence on macd. volume decreasing, means that buyers are not interested in the upmove. may see 47 - 48 eur before further upmove..
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meine augen sind die sterne
  • #81,468
  • Dec 2, 2010 11:39am Dec 2, 2010 11:39am
hmm, this can be interesting...
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meine augen sind die sterne
  • #81,469
  • Dec 2, 2010 12:31pm Dec 2, 2010 12:31pm
Some time ago i opened my big mouth and said i'm not a big head and shoulders guy and posted this chart. Here is an update. LOL
Interesting
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  • #81,470
  • Dec 2, 2010 12:38pm Dec 2, 2010 12:38pm
Quoting Atc
Some time ago i opened my big mouth and said i'm not a big head and shoulders guy and posted this chart. Here is an update. LOL
Interesting
I think H&S is exactly what we do so many times, as it would be a Pinbar on higher TF. Bigger the head the longer is wick on higher TF...
Just my thoughts out loud..
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  • #81,471
  • Dec 2, 2010 12:40pm Dec 2, 2010 12:40pm
I fell in love with Oanda, it´s just great as a whole. Charting is nearly MT4 quality, perfect risk management available which is the most important advantage.. Is there guys something not so great I don´t know about this one? I´d be grateful to hear your thoughts.

Happy trading and learning!
Nuc
  • #81,472
  • Dec 2, 2010 12:42pm Dec 2, 2010 12:42pm
Quoting jarroo
Hey Taz thanks.

Was your trade on the Hourly Aud/Usd a breakout of the highs? Sorry, I'm a bit lost on this setup.

I am enjoying your Touch Trader Method thread . . .
Yeah sometimes it is hard to catch up in this thread.
And i am talking about myself here.
lol
It was a small tiny breakout trade but i leveraged it, got 4 mini lots.
Would have easliy made a lot in one trade.
But still was a winner.
Sorry for late response sir.
There is nothing so damn good in my thread i learnt from masters what should be the outcome.

A good human being and a better trader.
  • #81,473
  • Dec 2, 2010 12:44pm Dec 2, 2010 12:44pm
Quoting nuclear62
I fell in love with Oanda, it´s just great as a whole. Charting is nearly MT4 quality, perfect risk management available which is the most important advantage.. Is there guys something not so great I don´t know about this one? I´d be grateful to hear your thoughts.

Happy trading and learning!
Nuc
no weekly, monthly charts and I heard it is not stable during news releases etc..
  • #81,474
  • Dec 2, 2010 12:48pm Dec 2, 2010 12:48pm
Quoting Adilius07
no weekly, monthly charts and I heard it is not stable during news releases etc..
Hey Adi,
But we could chart on a demo feed right.
So nothing wrong there.
I got an Fxpro feed is gret even when i know demo feeds could be a little bit loose.
Regards
Taz
  • #81,475
  • Dec 2, 2010 1:00pm Dec 2, 2010 1:00pm
Quoting 666Doom
Hey Adi,
But we could chart on a demo feed right.
So nothing wrong there.
I got an Fxpro feed is gret even when i know demo feeds could be a little bit loose.
Regards
Taz
If price feeds are identical it is fine. But are they identical demo and live from different brokers? I think the lag is possible, or a few pips difference. For daily charts it maybe of no significance. However, looking at chart and executing on the same platform is still easier imho...

But the huge of advantage of being able to trade any size is one significant advantage of course... Do they have CFD's in Oanda?
  • #81,476
  • Dec 2, 2010 2:49pm Dec 2, 2010 2:49pm
Do you think Alpari Uk is ok for a first broker?

Really need some suggestions.
I've found Oanda, IBFX and Alpari as being interesting. And among those Alpari looks the best for me, as I want to trade CFD's too... Any advice please?
  • #81,477
  • Dec 2, 2010 3:06pm Dec 2, 2010 3:06pm
Mike,

Sorry haven't posted example of ppz as we discussed. Will definitely post it over the weekend & maybe we can discuss then.

thanks
Conrad
  • #81,478
  • Dec 2, 2010 3:36pm Dec 2, 2010 3:36pm
Quoting bud_fox
Mike,

Sorry haven't posted example of ppz as we discussed. Will definitely post it over the weekend & maybe we can discuss then.

thanks
Conrad
No worries Conrad, I am always around and lurking, or not far
  • #81,479
  • Dec 2, 2010 4:14pm Dec 2, 2010 4:14pm
Quoting unlv_tj
Ghous and Benji up in the mix!

Great to see both of you, especially with Benji being gone for so long. I have studied both your posts so much. The next up and coming guy is xmz. I don't know where he came from, but he has learned this system with Benji and Ghous like speed!
Come on TJ don't say that, you make me To be honest some of Jarroo's posts and the video's of James made me see the light some time ago. When I joined this wonderfull thread in august, I was really struggling to fit all the pieces together and as I told you Jarroo's posts and James's video's glue all the pieces together.
Pipcrawler
  • #81,480
  • Dec 2, 2010 4:27pm Dec 2, 2010 4:27pm
Quoting Adilius07
Do you think Alpari Uk is ok for a first broker?

Really need some suggestions.
I've found Oanda, IBFX and Alpari as being interesting. And among those Alpari looks the best for me, as I want to trade CFD's too... Any advice please?
Hey Adilius and thanks for your reply. I can now maybe help you a little bit back I have AlpariUK Micro account. As a broker AlpariUK has not given me any reason to be unsatisfied with their services. I trust it as a high quality broker in London. I´m having now 28 FXpairs and Gold spot. Maybe classic or pro accounts are different in terms of CFDs.. Anyhow, I´d recommend
Nuc
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