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Where can I learn more about Price Action like those in James16 charts? 9 replies

james16 Chart Thread

Offtopic...

Anyone here trading live with Oanda ?

Thinking of opening an account with them...

Os.
Trade Smart
Quoting Osman
...
Anyone here trading with live with Oanda ?
Thinking of opening an account with them...
...
i think a few here do...
myself, [email protected], mbqb11, benji533....
Quoting bluetrader
Watching this area for some PA. Will see how GBP/JPY closes in relation to the 130.00 area.

-- Danny
hello, B
I turn to 4h chart ,it seems more clear.
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A chart helps those who can read it.
Quoting supremeChaos
i think a few here do...
myself, [email protected], mbqb11, benji533....

Thx SC.. have you had any issues with them ?

The thing that surprised me is that they pay you interest on your balance, 0.85% per year.

Thx.

Os.
Trade Smart
Quoting Osman
.. have you had any issues with them ?
..
i think it was November/late October2010 when Oanda had an issue with their server/s. prices were delayed, charts freezed, i wasnt able to amend my stops/trail stops. it was not resolved in my favor (but others with similar issues were favorably resolved).
other than that, i think Oanda is great.

there are probably better/equally good brokers out there, so check them out as well, & see which one/s u are comfortable with.
Quoting supremeChaos
i think it was November/late October2010 when Oanda had an issue with their server/s. prices were delayed, charts freezed, i wasnt able to amend my stops/trail stops. it was not resolved in my favor (but others with similar issues were favorably resolved).
other than that, i think Oanda is great.

there are probably better/equally good brokers out there, so check them out as well, & see which one/s u are comfortable with.

Its a pitty you didnt got resolved on your favour.. read some similar issues and some of them got their money refunded.

Yeah im gonna give them a try.. ive got live accounts with alpari uk and fxpro.. thinking of moving everything to Oanda.

Os.
Trade Smart
Thank You James Mike Jarroo Ghous all Seniors for your invaluable Help and advice.

Wishing you and all J16ers Very Happy Hollidays and a Brilliant New Year.

Best Regards

Damien
****************Thank you*******************

This comment is for him and his team and I hope they reply (especially James16, as I see Mike has already responded to my comments)..

Well, I just wanted to say "Thanks" for really teaching me. I've blown up my account 7 times, and lost so much money that I could literally buy a 2 bedroom house in Canada on "Cash." I literally went broke..And then I came across James16 method and gave it one last try but with a very minimal amount. This is the first time I've noticed to have my 94% trades go in profit and EXACTLY as planned (no hopes, no expectations, no ifs no buts) and I turned $1000 into $2500 in just 4 weeks. Please note that is without over leveraging my account. The 6% of my trades actually got out with very little loss or break even. I've had 0% loss so far. Ofcourse, this is after trading 2-3 months in demo as per James16 recommendation and focusing on Daily/Weekly.

This is also to state that I have gotten rid of my indicators. *if* I do use an indicator it is just to verify a pin bar with oversold/overbought condition and then I delete my indicators.

Thank you James16. I hope to continue learning your method and become more proficient in it.

****************Thank you*******************
Quoting torontobboy2
****************Thank you*******************

This comment is for him and his team and I hope they reply (especially James16, as I see Mike has already responded to my comments)..

Well, I just wanted to say "Thanks" for really teaching me. I've blown up my account 7 times, and lost so much money that I could literally buy a 2 bedroom house in Canada on "Cash." I literally went broke..And then I came across James16 method and gave it one last try but with a very minimal amount....
Hello Torontobboy, may I ask.
How much you risk per trade in % of your total account?
Quoting Adilius07
Hello Torontobboy, may I ask.
How much you risk per trade in % of your total account?

Risk is 50 pips. At $1000 it was around 5% and as I my balance grew I still kept on using 50 pip stop loss.
Quoting damien100
Thank You James Mike Jarroo Ghous all Seniors for your invaluable Help and advice.

Wishing you and all J16ers Very Happy Hollidays and a Brilliant New Year.

Best Regards

Damien
Same to you and yours Damien
Quoting torontobboy2
****************Thank you*******************

This comment is for him and his team and I hope they reply (especially James16, as I see Mike has already responded to my comments)..

Well, I just wanted to say "Thanks" for really teaching me. I've blown up my account 7 times, and lost so much money that I could literally buy a 2 bedroom house in Canada on "Cash." I literally went broke..And then I came across James16 method and gave it one last try but with a very minimal amount....
I am very glad to see you are finding success with what we do around here. Just please please take things slow and steady. The thought of you blowing 7 accounts makes all of us sick b/c it shouldn't have to happen. to so many. Glad you have taken James recommendations with demo first too.

Keep on at it and continued success in the new year
Quoting torontobboy2
Well, I just wanted to say "Thanks" for really teaching me. I've blown up my account 7 times, and lost so much money that I could literally buy a 2 bedroom house in Canada on "Cash."
It sux that you lost twelve bucks


Quoting torontobboy2
This is the first time I've noticed to have my 94% trades go in profit and EXACTLY as planned (no hopes, no expectations, no ifs no buts) and I turned $1000 into $2500 in just 4 weeks. Please note that is without over leveraging my account.
To be honest, if you really did that and are trading daily/weeklys then you either got very lucky and caught a few runners, or you are trading way too much of your account and are destined to end up back at the beginning again.

Either way, welcome to variance
When you have to shoot, shoot. Dont talk.
Quoting geniusztc
cheers!
however, keep today a winning day。
I honestly dont see a single trade there worth taking.

Quoting Pinbar
I don't see why anyone has to practice losing real money.

I think we practice making money on demo and when we are proficient at it, we then proceed to make real money.

Not only will losing real money make you broke but I think it will affect our psychology once we trade real money.
Some people just work that way. If there isnt at least a token amount, I dont treat a demo account seriously. It isnt going to be an amount that sends me broke or anything, just enough that I focus. I thought it was weird, but its suprisingly common amongst the people I've asked.

Tyson used to say that he could never focus properly in training, it was only sparring that really got him in the zone. I figure it is pretty much the same thing. Is Mike Tyson a good role model? Well...

Obviously, I'd never recommend it to anyone starting out or for whom the money is significant. That's just dumb.
When you have to shoot, shoot. Dont talk.
this is like the best xmas present i could get. (the euro trade heading south even further would be nice also ). YOU SIR ARE WHY I DO THIS. ITS NOT FOR 129 A MONTH. ITS TO SEE THESE POSTS IN THIS THREAD.

This goes to post 1.



Quoting torontobboy2
****************Thank you*******************

This comment is for him and his team and I hope they reply (especially James16, as I see Mike has already responded to my comments)..

Well, I just wanted to say "Thanks" for really teaching me. I've blown up my account 7 times, and lost so much money that I could literally buy a 2 bedroom house in Canada on "Cash." I literally went broke..And then I came across James16 method and gave it one last try but with a very minimal amount. This is the first time I've noticed to have my 94% trades go in...
Hello guys,

How are you all doing? Maybe (hopefully) you've missed me, haven't been here for a while. But boy have I been reading!!
The more you work thru' the thread the more interesting it gets.

Anyways I have reached to the point of wondering about the inside bars, don't know really if this one is going to close as a inside bar but there isn't much time so most likely it will.

Anyway this is my GBP/CHF Daily chart.
If you look at it (maybe Mike remembers I have promised to have a checklist and atleast three checks on it) you will see some confluence.
Now my question is really if this would be an acceptable trade, due to the inside bar.

First we have divergence.
Second we have a nice pinbar (and the important thing I noticed here was that this pinbar closed above 1.5 VBRN)
We have an inside candle

Now the first area I see resistance is at 1.53 and that would be a PPZ. Would it be smart to play a break of this inside bar?

Thank you.
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Quoting Carnegie
Hello guys,

How are you all doing? Maybe (hopefully) you've missed me, haven't been here for a while. But boy have I been reading!!
The more you work thru' the thread the more interesting it gets.

Anyways I have reached to the point of wondering about the inside bars, don't know really if this one is going to close as a inside bar but there isn't much time so most likely it will.

Anyway this is my GBP/CHF Daily chart.
If you look at it (maybe Mike remembers I have promised to have a checklist and atleast three checks on it) you will see some...
Hey C

I like momentum with my bars so when I see that pinbar form then lack any follow through to me that makes me a bit uneasy. Sepcifically in this case about trying to buy into the recent strong down move to go with the strong downtrend. Doesn't really mean it is wrong to do what you want, but I would be aware of the following areas under 1.53 as well(see chart)

Take care
Mike
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Quoting mbqb11
Hey C

I like momentum with my bars so when I see that pinbar form then lack any follow through to me that makes me a bit uneasy. Sepcifically in this case about trying to buy into the recent strong down move to go with the strong downtrend. Doesn't really mean it is wrong to do what you want, but I would be aware of the following areas under 1.53 as well(see chart)

Take care
Mike
Allrighty that sounds reasonable, man I have to start looking at what happened BEFORE!!! BEFORE! BEFORE! BEFORE!!!!!! the candles instead of just AT the candles.

But thanks for the respond Mike, another thing to add to my list here.

Thanks.
Hey Mike also one other thing I've been meaning to ask,

Could you take a look at seekings post here:

http://www.forexfactory.com/showpost...postcount=3272

Here he states "DO NOT GO AGAINST THE TREND".
But in reality, wasn't that inside bar JUST at the bottom and that move down before it quite strong? And by that I mean that it was counter-trend?

Thank you, sorry for the double posting.
Quoting Carnegie
Hey Mike also one other thing I've been meaning to ask,

Could you take a look at seekings post here:

http://www.forexfactory.com/showpost...postcount=3272

Here he states "DO NOT GO AGAINST THE TREND".
But in reality, wasn't that inside bar JUST at the bottom and that move down before it quite strong? And by that I mean that it was counter-trend?

Thank you, sorry for the double posting.
To me trend is always relative and it's like everything else a piece. If you look at SLs chart. Notice the 2 bar pinbar before that pinbar. So actually that pinbar broke within the next 2 bars(equal to 1 bar). Also notice the combined bars that make the pin were strong in comparison to the move down. Where as the gbp/chf pin just looked like price stalling off the BRN rather then buyers flooding in or sellers scared out.

Again this doesn't mean this IB won't break long and keep going. It very well may but if one takes it I think it's still important to know what your up against so you can either avoid it, manage it better, or not feel surprised with what the market throws at you.

Hope that helps
Mike
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