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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

  • #83,481
  • Dec 22, 2010 9:12pm Dec 22, 2010 9:12pm
Quoting bluetrader
Hey PB,

I've used ForexTester which has been pretty good. They have their annual 25% discount around this time of year.

-- Danny

Thanks Danny

I will look into it.
  • #83,482
  • Dec 22, 2010 10:13pm Dec 22, 2010 10:13pm
I got lucky on this one. Took the break of an IB that closed below 1.5 BRN; it has behaved very well, and I've locked in about 240 pips at this point. I mainly trailed a stop two bars back on the H4 chart (thanks for that advice, Mike!), and since this has been a drop pretty free of retracements, this has worked very well. We'll see where it goes tomorrow!

This is the end of my first month here; I'm incredibly grateful to everyone for the good advice, and I'm excited for the new year. Here's to peace, love, and lots of great mutual advice and support!

--Dave
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  • #83,483
  • Dec 22, 2010 10:14pm Dec 22, 2010 10:14pm
Quoting geniusztc
this trade seems not good ,however , i will not lose too much .

You know, I have mentioned this before in answer to your questions in PM about how you can become successful.

As I said, studying the J16 PA methodology and all the PPZ stuff Jarroo did, the James 16 PPZ video, paying attention to RN etc.

Did you see any PA setups suggesting to sell at the VBRN & parity? I didn't.
You took just a blind entry and console yourself by saying "It was not a good entry, ah well, I will not lose that much".

They have a saying here in Japan and probably in China too it goes like this, "Even dust when it settles will eventually become a mountain".

You are throwing your money away G...It pains me to see you throwing away even that much money.

Why not demo and not lose anything, learn to trade the system people are showing you, then trade with a little and make enough on each trade to take your Girlfriend out for a nice meal.

Look at the chart and even on H4 alone, you can see what happened and what was going to happen before hand.
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  • #83,484
  • Dec 22, 2010 10:15pm Dec 22, 2010 10:15pm
Quoting Dan Gilbert
Yes, but Mike has also made a great explanation: http://www.forexfactory.com/showpost...ostcount=79253



see attached pic. I generally had the same thought process, except that mike was not concerned about the old '07-'08 price action when finding targets.


I also forgot to mention on the attached pic that the 0.75 was out of the way when placing my trade; more room to move
Hey Dan, I just wanted to congratulate you on this trade; I'm new at this, but it strikes me as textbook execution. Thanks for sharing your thoughts!

--Dave
  • #83,485
  • Dec 22, 2010 11:04pm Dec 22, 2010 11:04pm
Quoting Pinbar
You know, I have mentioned this before in answer to your questions in PM about how you can become successful.

As I said, studying the J16 PA methodology and all the PPZ stuff Jarroo did, the James 16 PPZ video, paying attention to RN etc.

Did you see any PA setups suggesting to sell at the VBRN & parity? I didn't.
You took just a blind entry and console yourself by saying "It was not a good entry, ah well, I will not lose that much".

They have a saying here in Japan and probably in China too it goes like this, "Even dust when it settles will...
Hey,my sincere friend,
first ,i only want to talk about this trade. maybe the alpari broker is different somewhere. you can see ,there are some difference between our charts . but it is not the point.

and second, you know ,newbies always have good luck. LOL,up to now ,my fortune has not gone away .
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A chart helps those who can read it.
  • #83,486
  • Dec 22, 2010 11:41pm Dec 22, 2010 11:41pm
Quoting geniusztc
this trade seems not good ,however , i will not lose too much .
here i go . loss 28 pips. 3 dollars . not too bad .i was a little anxious for this trade .there are pin bars ,BUT there are also support line and trend line under my position.
A chart helps those who can read it.
  • #83,487
  • Dec 22, 2010 11:43pm Dec 22, 2010 11:43pm
jpm on daily. break of the box.
good close. has further upward potential.
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meine augen sind die sterne
  • #83,488
  • Edited Dec 23, 2010 12:20am Dec 22, 2010 11:44pm | Edited Dec 23, 2010 12:20am
Quoting geniusztc
Hey,my sincere friend,
first ,i only want to talk about this trade. maybe the alpari broker is different somewhere. you can see ,there are some difference between our charts . but it is not the point.

and second, you know ,newbies always have good luck. LOL,up to now ,my fortune has not gone away .

Well, it is fine to make mistakes, we all do that.
The trick is to learn from those mistakes so that we do not repeat them.

The 1.05500 area may be a place to WATCH for PA.
I say, watch as we do not convince ourselves that price is going to go one way or the other, we watch which way it wants to go and go with the flow.

EDIT:
(We are not spawning salmon trying to swim up stream.)
I am talking to myself in the bracketed sentence, and I thank you for you help, you have taught me a great deal here today.
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  • #83,489
  • Dec 23, 2010 12:25am Dec 23, 2010 12:25am
Quoting torontobboy2
if the current bar closes under 1.31 would it be considered double bar matching low with a lower close?
and secondly, how much weight should i put on to that big support line thats just below?...
there is no such PA setup as double bar matching low with a lower close.
but there are double bar low higher close, & 2 matching lows. i think u are referring to the latter.

your second question is unclear. please highight it ("big support line") on your chart.
  • #83,490
  • Edited 12:51am Dec 23, 2010 12:37am | Edited 12:51am
NZD/USD is looking interesting.

Wow, keeping it simple is such fun.

I am wondering what has happened inside my head?

Has some chemical imbalance occurred, is a new circuit being made?

Got to keep at it and keep it simple and get that circuit fitted properly.
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  • #83,491
  • Dec 23, 2010 12:50am Dec 23, 2010 12:50am
Quoting Pinbar
NZD/USD is looking interesting.
Wow, keeping it simple is such fun.
I am wondering what has happened inside my head?
Has some chemical imbalance occurred, is a new circuit being made?
...
most definitely.
but it's chemical balance, not imbalance....
brain neurons working full time
  • #83,492
  • Dec 23, 2010 12:54am Dec 23, 2010 12:54am
Quoting supremeChaos
most definitely.
but it's chemical balance, not imbalance....
brain neurons working full time

Thanks SC....How weird.....I was thinking about that trade geniusztc made and somehow something clicked in my head.

I guess this is the importance of dialogue with people and posting our trades both good and bad. I mean obviously, for Gen that trade was bad that he lost some money on it but, it helped me greatly.
Hopefully, it will also help him in the future.
  • #83,493
  • Dec 23, 2010 1:15am Dec 23, 2010 1:15am
Thank you very much friends for all your support. I also got several PM's supporting me. Thanks. Of course each day I spent learning to trade is a day I come closer to success... so I hope with all your support and with patience and hard work I will finally get it (making trading another income for myself). Thanks!
  • #83,494
  • Dec 23, 2010 1:19am Dec 23, 2010 1:19am
Quoting Adilius07
Thank you very much friends for all your support. I also got several PM's supporting me. Thanks. Of course each day I spent learning to trade is a day I come closer to success... so I hope with all your support and with patience and hard work I will finally get it (making trading another income for myself). Thanks!

Hey ADI let's just forget learning to trade and use the New Buru trader EA advertised on FF. Hey. it makes 100% in 157 days. LOL
  • #83,495
  • Dec 23, 2010 1:26am Dec 23, 2010 1:26am
Quoting Pinbar
Hey ADI let's just forget learning to trade and use the New Buru trader EA advertised on FF. Hey. it makes 100% in 157 days. LOL
I have a better solution. We can share the expenses, a PDF file cost only $3750 and purchase this amazing system. The results you can see below...
Just imagine what we could do with $10 deposit after this...

http://cdn.forexfactory.com/attachme...1&d=1282847013
  • #83,496
  • Edited 2:03am Dec 23, 2010 1:27am | Edited 2:03am
Quoting Adilius07
I have a better solution. We can share the expenses, a PDF file cost only $3750 and purchase this amazing system. The results you can see below...
Just imagine what we could do with $10 deposit after this...

http://cdn.forexfactory.com/attachme...1&d=1282847013

How many millions does it cost?

And to think people actually buy those things.
  • #83,497
  • Dec 23, 2010 1:34am Dec 23, 2010 1:34am
Quoting Pinbar
How many millions does it cost?

And to think people actually by those things.
Yeah it is $3750, I found it on facebook among trading groups there... You would not believe how many interested people are around there and really think this is how "those dirty rich traders" make money...
Of course I deleted him. Just disgusting to see someone using such dirty techniques to rob people...
  • #83,498
  • Dec 23, 2010 1:40am Dec 23, 2010 1:40am
Quoting Adilius07
Yeah it is $3750, I found it on facebook among trading groups there... You would not believe how many interested people are around there and really think this is how "those dirty rich traders" make money...
Of course I deleted him. Just disgusting to see someone using such dirty techniques to rob people...

Yeah, I know what you mean.

I think there are a few J16 would be profiteers around also.
Meaning, there are people around who want to visit this thread for a week and start there own PF.
I bet there are a few sites around if we bother to look.


Isn't it great that it takes a long time to learn.
  • #83,499
  • Edited 2:24am Dec 23, 2010 2:11am | Edited 2:24am
Still in that GBP/USD trade at BE and with 80% off the table.

I get the feeling it just made a new area of resistance and may take off.

Ah, how the free trades feel nice and this shows the Great importance of taking some off at the FTA.

On my desktop at the moment and that trade is on another account on my laptop.
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  • #83,500
  • Dec 23, 2010 3:27am Dec 23, 2010 3:27am
4hr USDCHF looking like a good setup here.

1.) macd divergence
2.) -23.6 extension hit (target)
3.) possible BUOB could form if this candle close above 0.9525

risk on trade only 30pip. to gain a possible +100
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