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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

  • #81,521
  • Dec 3, 2010 7:03am Dec 3, 2010 7:03am
Quoting TheSnowman
It would be great if the regular posters had a signature link to a post that describes the basics of james16 method or someone could re-post it every page or 10

here is a little something I have been working on
Check Pinbar, he has it
Trade Smart
  • #81,522
  • Dec 3, 2010 7:10am Dec 3, 2010 7:10am
Quoting TheSnowman
Set your options to 40 (or is it 50?) posts per page and reduce it to the 2,000+ something pages that I see

It would be great if the regular posters had a signature link to a post that describes the basics of james16 method or someone could re-post it every page or 10

here is a little something I have been working on
Hey SnowMan.
Just open up all the attachments of James 16,Jarroo,Mike and Raczekfx.
That will do for the most basic concept in James 16 trading,which is PPZ.

Oopss i leaked a biggy.

Yeah then look at the first Posts by James they describe some of the most commonly used J 16 setup.
Hope this helps.
Regards
Taz
  • #81,523
  • Dec 3, 2010 7:15am Dec 3, 2010 7:15am
Quoting mbqb11
my friday brain is in full mush effect.
Hey Mike,
I missed reading some more basic J 16 terms what is:

Monday Brain:
Friday Brain:
Mush Effect:



Anyways Mike just wanted to say that once i saw your post
You are great.


Please don't hit me.

Regards
Taz
  • #81,524
  • Dec 3, 2010 7:17am Dec 3, 2010 7:17am
Quoting jarroo
I believe that the correct sound is . . .KaBooM!! . . . .lol
My sound was Like Boom.
Guess i'm new that is why less sound.


Nice one Jarroo.
Regards
Taz
  • #81,525
  • Dec 3, 2010 7:22am Dec 3, 2010 7:22am
Quoting jarroo
Yes, it is also a 2 day BEOB. Although its not at a swing high but in consolidation it has good potential.
Hi Jaroo,

Thanks for your insightful comments.

Unfortunately for me, I entered at the break of that pin and took a full bar loss when that big red bar occurred the daily.

I am very new to the trading but i don't personally think demo account will work for me. So at the moment I am using a very little amount with a live account, as it gives me exposure to the emotional side of the trading.
I have done quite a bit of reading on the pinbar, so trying to lookout for them and play them if appropriate.
Trading is a test match not a Twenty20.
  • #81,526
  • Dec 3, 2010 7:53am Dec 3, 2010 7:53am
Quoting decentchap
Hi Jaroo,

Thanks for your insightful comments.

Unfortunately for me, I entered at the break of that pin and took a full bar loss when that big red bar occurred the daily.

I am very new to the trading but i don't personally think demo account will work for me. So at the moment I am using a very little amount with a live account, as it gives me exposure to the emotional side of the trading.
I have done quite a bit of reading on the pinbar, so trying to lookout for them and play them if appropriate.



There is NOTHING you can do on a live account that you can not do on a demo account. That is, apart from lose all your money.

Perhaps you should read the first posts by J16 and save your money until you are sure you can make it grow.


I know there are people who say that, you need to trade with real money to get a feel for the market, it is rubbish and probably started by brokers to fleece more people.
  • #81,527
  • Dec 3, 2010 8:00am Dec 3, 2010 8:00am
going to take this
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  • #81,528
  • Dec 3, 2010 8:19am Dec 3, 2010 8:19am
Quoting spookie94
Are your stop always a set amount?
My SL is @ the other end of the lower TF PA plus the spread of that particular currency pair, so this might be quite tight compared to a SL at the other end of the higher TF PA. Sometimes to tight as you could've seen yesterday in my N-J trade, but hey that's the way I like it. But in most of my trades that I've taken sofar it has worked out very well, usually after the lower TF PA entry trigger price moves far enough in the direction of the higher TF PA for me to manage my trade accordingly. Also I rarely take montly setups, hope this clears up your questions.
Pipcrawler
  • #81,529
  • Dec 3, 2010 8:24am Dec 3, 2010 8:24am
Quoting kayhan7070
going to take this
Hey Kay,
That bar is headed into two boxes on top of each other.
I guess jarroo and Mike,SC,Ghous and others will agree with me here.
Both are 4 hr boxes as i see it from your charts.
I cant post charts now i am posting from remote point.
Be Safe Kay,
Regards
Taz
  • #81,530
  • Dec 3, 2010 8:33am Dec 3, 2010 8:33am
Quoting kayhan7070
going to take this
would pass because: at a swing low, trading into strong PPZ, bar is off news may have huge draw down. Just my opinion.
  • #81,531
  • Dec 3, 2010 8:39am Dec 3, 2010 8:39am
Quoting Angel65
Bonjour Xmzhang,

Regarding your statement above, do you mean that you NEVER take a trade on lower TF if a break of higher TF PA is occured ?

Thanks for your attention,

Cheers,

Angel
If after the close of the higher TF PA, price breaks/validates that higher TF PA, I do not enter right after that break but wait for possible pullback and then look for PA on the lower TF to enter in the direction of the higher TF PA, hope this clears up

Xiao Ming Zhang.
Pipcrawler
  • #81,532
  • Dec 3, 2010 8:45am Dec 3, 2010 8:45am
Quoting Pinbar
Agreed, XMZ took to the J16 method like a duck to water and is a Great example for us newbies to follow.

Yes, SC. I think he has great clarity in how he analyzes setups, and he is consistent with it, and this is probably due to his analytical skills as an engineer.

I hope XMZ will post a little about the routine, he goes through in every trade, I mean the order he does things.

Personally, I feel I am failing a little in this area, and my mind can often be all over the place in analyzing a setup.
Got to make it more mechanical and less emotional,...
SC, PB, thanx for your very kind remarks, I'am really flattered, but I'am not the only one who has taken the James method like a duck to water, hey Pinbar

May the force be with you.
Pipcrawler
  • #81,533
  • Dec 3, 2010 8:54am Dec 3, 2010 8:54am
Quoting Widget
I'm on day 2 of demo trading (yay, negative already!).

I had a question on moving stops to break-even, and taking some profits...

If I can only trade 1-2 hrs a day, should I place multiple orders to get an automated effect?

ex.
Current: 1.0080 and first price target: 1.0200
order 1 = Buy Stop: 1.0100 + SL: 1.0050 (N units)
order 2 = Sell Limit: 1.0200 (N units)
order 3 = Buy Stop: 1.0200 + SL: 1.0100 (N/2 units)

Also, would I need to overlap the levels a few pips to account for spread or delayed execution/slippage?
Hey Widget

You can it will depend on the platform you are using and what your intentions are.

If you know the areas you want to go to b/e at I think either using an automated program to move it, or setting an alert then moving to b/e are the best options. Doing it the above way you are going to be paying the spread/commissions 3 times and also run the risk of execution/slippage. Not that that is a huge issue but it is added costs for positions you are already in.

Have a nice weekend
Mike
  • #81,534
  • Dec 3, 2010 8:55am Dec 3, 2010 8:55am
Quoting john225
Doesnīt looks good for me :-(
Anyone with me?
Hey John thanks for the post. I've been trying to work on my BEOB/BUOB setups so I hope this makes sense for you. This one is tricky its not at a true swing high, but the 1.0000 BRN could make for great Resistance. Still, because its not at a high it could have problems in traffic. If you just played the break you would want to watch it closely, it didn't have much room th go before the FTA of around .9540 and the BRN .9500. It did however hit the target on my feed.

Now if you played the retrace (trying to learn this from XMZ and others) you could of had a nice 100+ pip gain. By dropping down to a lower TF for an entry.
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  • #81,535
  • Dec 3, 2010 8:58am Dec 3, 2010 8:58am
Quoting john225
Doesnīt looks good for me :-(
Anyone with me?
Hey John

I love your marked area and think we will see down there. As spookie said the 9500 it is right into also. But remember we want the BEOB at a swing high there. It would have been a better play for the 2 week pinbar(combined bars) then the beob at a swing low. These are the problems with continuations without the proper support to them. Now if that engulfed 4-5 bars it would be a different story, but just the one bar would have me aside, personally of course

Have a great weekend
Mike
  • #81,536
  • Dec 3, 2010 8:59am Dec 3, 2010 8:59am
Quoting 666Doom
Hey Mike,
I missed reading some more basic J 16 terms what is:

Monday Brain:
Friday Brain:
Mush Effect:



Anyways Mike just wanted to say that once i saw your post
You are great.


Please don't hit me.

Regards
Taz
lolol I think I termed a lot of those. My brain doesn't function that well 30% of the time at least

  • #81,537
  • Dec 3, 2010 9:02am Dec 3, 2010 9:02am
Quoting xmzhang
Hey Jarroo, how about this 4H-BUOB @ 8400 of E-G ? Entry on a pullback, a nice BUOB on the 10m-TF at previous bar low was my buy trigger. Closed 1/2 position at the important PPZ @ 8450, lets see if she is able to crack the 8450 ......
Well E-G cracked the important 8450 and received support as seen via another 4H-BUOB @ that level, next obstacle would be the BRN/PPZ/61.8fib @ 8500. I've moved my stop of my remaining position to just below the 8450 and banked 81 pips so far.........
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Pipcrawler
  • #81,538
  • Dec 3, 2010 9:08am Dec 3, 2010 9:08am
Quoting Widget
I'm on day 2 of demo trading (yay, negative already!).

I had a question on moving stops to break-even, and taking some profits...

If I can only trade 1-2 hrs a day, should I place multiple orders to get an automated effect?

ex.
Current: 1.0080 and first price target: 1.0200
order 1 = Buy Stop: 1.0100 + SL: 1.0050 (N units)
order 2 = Sell Limit: 1.0200 (N units)
order 3 = Buy Stop: 1.0200 + SL: 1.0100 (N/2 units)

Also, would I need to overlap the levels a few pips to account for spread or delayed execution/slippage?
Check out this thread http://www.forexfactory.com/showthread.php?t=240688

that can do anything you want with orders.

And this thread http://www.forexfactory.com/showthread.php?t=22087
maybe you can take Metatrader to work with you?
Canadian by birth Australian by choice
  • #81,539
  • Dec 3, 2010 9:24am Dec 3, 2010 9:24am
Quoting spookie94
Hey John thanks for the post....
Thanks mike and spookie

Yes i thought too to set my SL to breakeven on .9500 but it didnīt reached the BRN and so im still in loss
  • #81,540
  • Edited 9:41am Dec 3, 2010 9:38am | Edited 9:41am
Hey gang,

Just thought I'd update folks on this trade. Took the break of this BEOB, not expecting much, and was rewarded. The BEOB was not very big, was headed into traffic, and was counter to the trend. I moved my stop to BE as soon as the trade was in profit by about $30 (this pair has a weird pip value of $.18, so that's about 33 pips for most pairs); I had a limit order in place at the FTA of the next bar highs/lows, and took profit of about $55. It has since moved lower, but was it worth the gamble on a weak setup? No. I'm happy with this trade; would welcome any comments.

--Dave

By the way, that's two profitable trades in a row for me, since I started demoing again (after a break of about a month while I read more of this thread); might be a first for me, with both live and demo trading! Thanks to all who are here helping us newbies so generously!
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