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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

  • #85,401
  • Jan 12, 2011 9:37am Jan 12, 2011 9:37am
This BEOB caught my eye. Thought about a short if it broke the trend and the weekly support but found FTA too close. Looking for this one to break, retrace and produce some PA. What do you think?
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  • #85,402
  • Jan 12, 2011 9:39am Jan 12, 2011 9:39am
Quoting nwo-trader
Ahh ok, that clears it up for me, so the close on the second bar needs to be above the high of the previous bar, got it. Thanks Mike, and god bless.

You mentioned the other day that system I posted was a seizure machine, and I agree. I've got these pics of your trading stations, just wondering if you've changed it up since then? Sorry if this is creepy, lol I'm no stalker, this is just how I picture you - sitting infront of here. Lol.

haha no it's all good my friend

changed to widescreens and new machine on one. Also added a nice 42 led/lcd to pass the time and my nice new aeron chair(has helped my back a lot)

Let us know if you have more questions
Mike
  • #85,403
  • Jan 12, 2011 9:43am Jan 12, 2011 9:43am
Quoting nwo-trader
Ahh ok, that clears it up for me, so the close on the second bar needs to be above the high of the previous bar, got it. Thanks Mike, and god bless.
This is how/where I picture James, :-P
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Price is beautiful. A repetitive method is a competitive method.
  • #85,404
  • Jan 12, 2011 9:44am Jan 12, 2011 9:44am
[quote=supremeChaos;4307741]

u know, u draw a descending wedge on the daily. check your post the other day. it was a confluence for a long, wasnt it[/QUOT

yeah, thats why i will be bullish if it breaks properly.Jus not seeing the momentum??it is still being capped by that 1.5660-1.5700 level.
let see if we get a strong close above the upper TL today??

Quote
]interesting.
real-time display of two traders who differ in views & TLs & yet both still doing ok, overall.

lol. yeah i think we have the same TL only i have drawn mine from the D1 and refined it on the 4H. This can give different results. I think it is simply that the line has more space the lower you go down the TFs so it can still be at the right price but the wrong place if you know what i mean lol.There are more bars on the lower TF so the line might not connect to the exact bar which made the high. ??

jon

p.s. nice trade on the eu/jpy i got stopped out with a small profit, and went long gb/jpy on the break of the little flag/channel.
PATIENCE... DISCIPLINE
  • #85,405
  • Jan 12, 2011 9:45am Jan 12, 2011 9:45am
Quoting chriskins
Why not improve your trading? Or look for other setups?
When you start off with a small account it can take a while to get to a point where you can start withdrawing money on a regular basis and not depleat your trading account. SC is just trying to suppliment his income until he arrives at that point.
  • #85,406
  • Jan 12, 2011 9:46am Jan 12, 2011 9:46am
Quoting supremeChaos
lol, that was a tongue twister

i think it should read "price just slighty broke that BEOB and then gave me in the 15m-TF a buytrigger to enter the pullback trade and to fade that BEOB via a nice 15m-BUOB"

up & down trading, in what looks like an H4 range, nice job by the master preempter.
I like that title SC "master preempter", I already got master of science (Msc) so now I'am like a "master preempter of science"
Pipcrawler
  • #85,407
  • Jan 12, 2011 9:53am Jan 12, 2011 9:53am
Quoting nwo-trader

You mentioned the other day that system I posted was a seizure machine, and I agree.
I bought a 22" monitor and fit everything in one view. check it:
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Many choose unhappiness over uncertainty.
  • #85,408
  • Jan 12, 2011 9:56am Jan 12, 2011 9:56am
Quoting Dan Gilbert
I bought a 22" monitor and fit everything in one view. check it:
Nice Dan! I believe I've got a snap of your trading desk too, it's amazing what you find on this thread and in peoples attachments lol. Sorry If I've got it wrong.
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Price is beautiful. A repetitive method is a competitive method.
  • #85,409
  • Jan 12, 2011 10:03am Jan 12, 2011 10:03am
Quoting nwo-trader
Nice Dan! I believe I've got a snap of your trading desk too, it's amazing what you find on this thread and in peoples attachments lol. Sorry If I've got it wrong.
That's it... My desk is such a mess now compared to that picture though lol. Piles of junk.
Many choose unhappiness over uncertainty.
  • #85,410
  • Jan 12, 2011 10:08am Jan 12, 2011 10:08am
Quoting Dan Gilbert
That's it... My desk is such a mess now compared to that picture though lol. Piles of junk.
First thing I noticed was TYWTFF, the red book, as when I saw this pic in the summer I was reading it at the time (have not finished it yet). Also, correct me if I'm wrong, it's hard to tell but is that Trading in the Zone (TITZ) (blue book) underneath the red book?
Price is beautiful. A repetitive method is a competitive method.
  • #85,411
  • Jan 12, 2011 10:09am Jan 12, 2011 10:09am
Quoting nwo-trader
..
You mentioned the other day that system I posted was a seizure machine, and I agree. I've got these pics of your trading stations, just wondering if you've changed it up since then? Sorry if this is creepy, lol I'm no stalker, this is just how I picture you - sitting infront of here. Lol.
Quoting nwo-trader
This is how/where I picture James, :-P
hahah..
pretty old posts
u know how to dig deep

btw, what's a seizure machine? is it a gaming rig?

Quoting mbqb11
haha no it's all good my friend
changed to widescreens...
Let us know if you have more questions
my question is.... can u post an updated pic (including your chair)?
& please include your ever-fast typing, sexytary

Quoting spookie94
When you start off with a small account it can take a while to get to a point where you can start withdrawing money on a regular basis and not depleat your trading account. SC is just trying to suppliment his income until he arrives at that point.
yeah, i started with an 'average' 5 digit account back in 2006 & ended up trading a 2/3/4-digit account.
thanks Sir
  • #85,412
  • Jan 12, 2011 10:10am Jan 12, 2011 10:10am
Quoting nwo-trader
Nice Dan! I believe I've got a snap of your trading desk too, it's amazing what you find on this thread and in peoples attachments lol....
i think i was the one, or at least 1 of those who requested this feature from Twee.
cool, aint it.
watch out for tons of funny pics along the way. i think there are more funny pics than charts posted here on FF. lol

Quoting xmzhang
I like that title SC "master preempter", I already got master of science (Msc) so now I'am like a "master preempter of science"

i actually do what u do... but i have never thought of using the word 'preempt' until u came

Quoting Dan Gilbert
I bought a 22" monitor and fit everything in one view. check it:
cool, thanks Dan
now i know how mine would look like when i get the new rig set up.
my 22" has been lying in my table, almost unused, for about a year now (my PC crashed last year)
  • #85,413
  • Jan 12, 2011 10:18am Jan 12, 2011 10:18am
Quoting nwo-trader
First thing I noticed was TYWTFF, the red book, as when I saw this pic in the summer I was reading it at the time (have not finished it yet). Also, correct me if I'm wrong, it's hard to tell but is that Trading in the Zone (TITZ) (blue book) underneath the red book?
tywtff
market wizards #1
how an economy grows and why it crashes
technical analysis of the financial markets
Many choose unhappiness over uncertainty.
  • #85,414
  • Jan 12, 2011 10:21am Jan 12, 2011 10:21am
Quoting supremeChaos
hahah..

btw, what's a seizure machine? is it a gaming rig?
Hey SC, thank you, I love this thread - you guys are my inspiration. I've literally become addicted to PA, S/R, and charts in general. My gf kills me for spending too much time on the computer and not enough time with her. (Particularly because I'm an IT systems engineer, so Im on the PC alot) Though hoping the ipad will fix that, as I could atleast sit with her and watch show's etc while still studying charts. Would anyone have an android or windows tablet they could recommend instead of the ipad?

Also here is the seizure machine referred to a couple days ago.

http://lifehacker.com/5481921/the-day-traders-paradise
Price is beautiful. A repetitive method is a competitive method.
  • #85,415
  • Edited 12:12pm Jan 12, 2011 10:22am | Edited 12:12pm
GBPJPY(FXDD)
4h BUOB(1.12.12:00) trade

1st is Daily chart
2nd is 4h chart

BUOB off SR(Daily)
I like the angle of EMAs(4hchart)

my entry is 2 white lines(small position) and one blue line(big position)

1st small position is at BUOB Close and at 20:00 I will decide to whether I close that position or holding it (...or will get Stopped out

2nd white line(2nd small position) is limit buy order, and I cancel it in 12 hours , If my order will be hit , I would leave it till whether SL=BE or end up hitting my SL.

Blue line is my 3rd limit order(big position) and I will deal with this order as same as I do with 2nd limit order.

Thanks for reading .

Ken
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  • #85,416
  • Jan 12, 2011 10:30am Jan 12, 2011 10:30am
If you can manage to score a 90% win rate, then the chance of n losing trades in a row out of 50 are

Losses Probability
1 99.48%
2 38.89%
3 4.69%
4 0.47%
5 0.05%
6 0.00%

So 4 losses in a row are very unlikely, this could allow a bit higher risk that 2% (once we have a good track record of profit at that rate).
Kind Regards Chris
  • #85,417
  • Jan 12, 2011 10:31am Jan 12, 2011 10:31am
Quoting nwo-trader
Hey SC, thank you, I love this thread - you guys are my inspiration. I've literally become addicted to PA, S/R, and charts in general. My gf kills me for spending too much time on the computer and not enough time with her...
Also here is the seizure machine referred to a couple days ago.
http://lifehacker.com/5481921/the-day-traders-paradise
ok, try to balance your life with trading & loved ones

so that's a seizure machine.
literally, it can make me go on a epileptic seizure, because of its look & price.

thanks Sir!
  • #85,418
  • Jan 12, 2011 10:43am Jan 12, 2011 10:43am
this baby seems to finally manage the breakout of the triangle.
strong daily close, nearly at the dayhigh.
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meine augen sind die sterne
  • #85,419
  • Jan 12, 2011 10:44am Jan 12, 2011 10:44am
Beautiful confluence between resistance and fib. Awaiting PA confirmation
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  • #85,420
  • Jan 12, 2011 10:48am Jan 12, 2011 10:48am
On fibre, sorry
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