Hey Guys
I see some nice locations. See charts and say what you think.
Here is a chart for you
james16 Chart Thread
- #82,302
- Dec 12, 2010 4:38pm Dec 12, 2010 4:38pm
- | Commercial User | Joined Nov 2010 | 1,178 Posts
Hi all,
I've taken a week off from trading and it's been really good to come back with 'fresh eyes'. Watched a few PF vids today, the WIPG's in particular and looking at the weeklies there's on that caught my eye - GBP/NZD.
It's broken through the 2.1000 PPZ on the weekly, and looks to have retested and confirmed a flip from resistance to support. I've drawn trouble areas in green. Apart from this it looks like another week off
Also GBP is the only pair on my feeds that has gained against USD last week, NZD looks to have taken a spanking...
P.S. Sorry for such a long post,but there are so many elements and my english is limited. usdcad is very interesting to watch too.
Nothing personal,just business
- #82,304
- Dec 12, 2010 5:14pm Dec 12, 2010 5:14pm
- Joined May 2010 | Status: HCR-LCS SFP | 6,026 Posts
Glad your feeling better, Pb.
Yes, you nailed it. It was the mutliple confluences that were present at that PPZ level or where Price turned from Resistance to Support.
It those confluences weren't present at that PPZ level, that weakly closed PB would have no relevance. It was the strength of its location (PPZ level with multiple supporting confluences) that made that trade possible.
Side note: Interesting how that 1.3300 is still playing a strong role today. . .
Thanks Jarroo
It gets more interesting everyday.
Never really been a big note keeper before, certainly has been useful as I can reference things, like this trade, reconstruct the chart and see it in 3D, instead of just words on paper.
- #82,307
- Dec 12, 2010 5:55pm Dec 12, 2010 5:55pm
So if you guys have anything on your mind you ever wanted to ask a professional floor trader fire away!!!
When you have to shoot, shoot. Dont talk.
- #82,308
- Edited 6:49pm Dec 12, 2010 6:31pm | Edited 6:49pm
After doing some analysis on whipsaws in few last hours here are a few things I would like to share with my Trading Family. Some things which i learned(actually these are things I already know and applied for few months now using J16 method)
1) J16 method actually works. So first of all my honest thanks to him.
2) Trading just one or 2 price patterns off best S/R levels you could have earned more than 2000 pips in less than 5 months from a single currency pair.(if you don't believe me see the chart attached)
3)Bars are important but whats more important is the location of the bar. Seeing the whole story behind whats happening is important. This is why James, Mike(especially) say if this happen and then this happens and ............ then I am in it otherwise not and when I am in it i will exit it if this happens.
4) If you be patient and follow the minimum requirements then no the future is bright for you.
5) Learn to be picky. You will always hear mike say This is just me. The kind of picky I am, I wouldn't take this setup.
6) Never try and catch a falling knife. If you follow some of the trades by James, Jaroo, Mike, Rac and all senior members, one thing you will notice is that they are in it having their stops at BE when we are actually trying to be in it. The most amazing thing that fascinated me was Rac buy at the tip of the pinbars. Then by applying knowledge you will surely find the secrets.
All these guys actually trade the areas. One will trade it at tip and other at the break of the pinbar. One was aggressive and other was non aggressive. But both knew we are in the game at that point.
7) The most important thing was to never break the rules. If you lose a trade because of not following your rules then you will get disgusted at yourself but if you loose a good trade then you know it was pure bad luck.(I know all you guys know that there will be 10-20% bad luck trades but 80% success rate is more than brilliant). Even till date I do break my rules and become angry at myself, so its better not to break them
.
So its my sincere thanks to James, Jaroo, Mike, Rac, Ghous, SC, chris(clockwork71) and people like pinbar, 666doom, bluetrader, XMZ,Hans, Atc(I don't won't to miss anyone. I can assure you there were many things I learned from Pinbar and 666doom's posts especially) for making FF a heavon for newbies and professionals. J16 and FF rocks.
Regards
P
P.S. Sorry Guys for such a long post. Even though my hands were tired but it just had to come out of my brain.
1) J16 method actually works. So first of all my honest thanks to him.
2) Trading just one or 2 price patterns off best S/R levels you could have earned more than 2000 pips in less than 5 months from a single currency pair.(if you don't believe me see the chart attached)
3)Bars are important but whats more important is the location of the bar. Seeing the whole story behind whats happening is important. This is why James, Mike(especially) say if this happen and then this happens and ............ then I am in it otherwise not and when I am in it i will exit it if this happens.
4) If you be patient and follow the minimum requirements then no the future is bright for you.
5) Learn to be picky. You will always hear mike say This is just me. The kind of picky I am, I wouldn't take this setup.
6) Never try and catch a falling knife. If you follow some of the trades by James, Jaroo, Mike, Rac and all senior members, one thing you will notice is that they are in it having their stops at BE when we are actually trying to be in it. The most amazing thing that fascinated me was Rac buy at the tip of the pinbars. Then by applying knowledge you will surely find the secrets.
All these guys actually trade the areas. One will trade it at tip and other at the break of the pinbar. One was aggressive and other was non aggressive. But both knew we are in the game at that point.7) The most important thing was to never break the rules. If you lose a trade because of not following your rules then you will get disgusted at yourself but if you loose a good trade then you know it was pure bad luck.(I know all you guys know that there will be 10-20% bad luck trades but 80% success rate is more than brilliant). Even till date I do break my rules and become angry at myself, so its better not to break them
.So its my sincere thanks to James, Jaroo, Mike, Rac, Ghous, SC, chris(clockwork71) and people like pinbar, 666doom, bluetrader, XMZ,Hans, Atc(I don't won't to miss anyone. I can assure you there were many things I learned from Pinbar and 666doom's posts especially) for making FF a heavon for newbies and professionals. J16 and FF rocks.
Regards
P
P.S. Sorry Guys for such a long post. Even though my hands were tired but it just had to come out of my brain.
- #82,310
- Dec 12, 2010 7:00pm Dec 12, 2010 7:00pm
Hey guys,
Well I had a fail trade from Friday evening, made a stupid mistake and didn't realise the time .. so I come back today to find my stop triggered when the market opened below. Oh well, live and learn. This is what demo is for eh? Good stop placement has kept me profitable overall though, so I can hopefully pull back keep on with my pretty good start so far ..
Question, is anyone else seeing pretty much .. nothing? to trade at the moment? I just want to make sure I am not missing something other people are seeing, from reading posts there's a few things to look at but it's a very sideways market it seems.
If there's anything I am missing, would be nice if people can point the way so I can see what I am doin wrong again
Though I will add the only thing I kinda see is the EURUSD, looked like a very nice 50% retracement and then will continue down again .. ?
Well I had a fail trade from Friday evening, made a stupid mistake and didn't realise the time .. so I come back today to find my stop triggered when the market opened below. Oh well, live and learn. This is what demo is for eh?
Good stop placement has kept me profitable overall though, so I can hopefully pull back keep on with my pretty good start so far ..Question, is anyone else seeing pretty much .. nothing? to trade at the moment? I just want to make sure I am not missing something other people are seeing, from reading posts there's a few things to look at but it's a very sideways market it seems.
If there's anything I am missing, would be nice if people can point the way so I can see what I am doin wrong again
Though I will add the only thing I kinda see is the EURUSD, looked like a very nice 50% retracement and then will continue down again .. ?
Hey P
Sorry I misunderstood
I would consider 1.58-1.65 an entire boxed region personally
Best
Mike
(my chart in post). Sorry for causing you so much trouble.P
- #82,313
- Dec 12, 2010 7:53pm Dec 12, 2010 7:53pm
- | Commercial User | Joined Aug 2006 | 12,004 Posts
So Mike if I consider 1.5950 to 1.64 would that be wrong in any sense because I consider that to be false break.
P
You could. I think the more important thing to note the area of interest and the equilibrium that is occurring around these levels. Meaning a battle b/w bears/bulls, or supply/demand . So the more important thing if any is that the market is ranging in my view.
Best
Mike
Hey P no bother at all bud
You could. I think the more important thing to note the area of interest and the equilibrium that is occurring around these levels. Meaning a battle b/w bears/bulls, or supply/demand . So the more important thing if any is that the market is ranging in my view.
Best
Mike
- #82,315
- Dec 12, 2010 10:11pm Dec 12, 2010 10:11pm
Apparently not.
Wanted to help, by calling the method and those that teach it Amateur hour type traders.
http://www.forexfactory.com/showthread.php?t=219561
Funny thing, most of us are amateurs
.
- #82,316
- Dec 12, 2010 10:14pm Dec 12, 2010 10:14pm
- Joined May 2010 | Status: HCR-LCS SFP | 6,026 Posts
Funny thing, most of us are amateurs
Yes, but we aren't teaching it, are we.
So, I take it that this was not aimed at us but the seniors.
Anyway, we don't need this resurrecting.
- #82,317
- Dec 12, 2010 10:59pm Dec 12, 2010 10:59pm
- Joined Feb 2009 | Status: Borderline yahoo & oh-no! | 6,607 Posts
Hey guys,
Question, is anyone else seeing pretty much .. nothing? to trade at the moment? I just want to make sure I am not missing something other people are seeing, from reading posts there's a few things to look at but it's a very sideways market it seems.
If there's anything I am missing, would be nice if people can point the way so I can see what I am doin wrong again...
dont waste your time looking for/regretting the thing/trades u missed... it is simply unhealthy for your trading (& pyschology in general). we will miss A LOT of trades along the way ---- we wont get them all.
focus on what YOU see, what YOU trade, & how well YOU did/how well YOU approached the trades YOU took.
the charts/posts/trades shared by others here are collectively a BONUS, since u can learn from them, in one way or another.
btw... hey Pinbar, A+++++ avatar
- #82,318
- Dec 12, 2010 11:41pm Dec 12, 2010 11:41pm
- Joined May 2010 | Status: HCR-LCS SFP | 6,026 Posts
A+++++[/b] avatar
Yeah, thanks SC.
I figured if I use an avatar it had better be an A+ instead of a B-, Pinbar.
Also, I prefer the short PB as they seem to have gravity on their side.
It's true.
- #82,319
- Dec 13, 2010 2:20am Dec 13, 2010 2:20am
- Joined Sep 2005 | Status: J16 Senior Member | 13,635 Posts
Just going through all my notes on James 16 videos and I found an interesting one on AUD/USD July 2008.
He was talking about boxes and how they make up our PPZ.
Great charts Pb .. .
Indicators show the past. Price Action "Indicates" the future.
- #82,320
- Dec 13, 2010 2:22am Dec 13, 2010 2:22am
- Joined May 2010 | Status: HCR-LCS SFP | 6,026 Posts
Great charts Pb .. .
Thanks but, they are reconstructed J16 charts.
That is why they are GREAT, for SURE.
I think James16 has totally rewired his mind and he actually sees charts like that, you know like a composer can hear the notes from just looking at the score.
The Big Guy is something else for sure.