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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

  • #87,141
  • Jan 27, 2011 6:16am Jan 27, 2011 6:16am
Quoting grahamec
Hi anyone tell me please how to check settings in my MT4 account ie: leverage
TIA
Grahame
Hi Grahamec

Depends on the broker... for the live accounts most of the times you would have to log into your brokers site with your id and pass and there you should be able to change it.


Hope that helps, if not I would suggest sending an email to your brokers support department.
Os.
Trade Smart
  • #87,142
  • Jan 27, 2011 6:16am Jan 27, 2011 6:16am
Quoting Osman
Hi Grahamec

Depends on the broker... which broker are you using ?

Os.
FxPro
  • #87,143
  • Jan 27, 2011 6:21am Jan 27, 2011 6:21am
Quoting ghous
IPBs can be Inside bars, and that fact does not invalidate them, its just that we normally like to see them exceeding the prior bar's range because we like them nice and big rather than as dwarfed by prior PA.

Extremely sorry about the name. Have heard the name Avinash in many bollywood movies,never heard of Avanish...but that's no excuse for the error...so my humbled apology.

Feel free to ask your questions whenever you feel like.

g.
Lol..dont be sorry abt my name..dats completely ok..

Thanks for that valuable info. buddy!
  • #87,144
  • Jan 27, 2011 6:46am Jan 27, 2011 6:46am
Quoting supremeChaos
yeah, many thanks to ertorque.
i entered this right after his post, about 60 bars back on the current M15 chart, @112.85.
it moved pretty well today, a bit surprisingly.

very small position (no PA entry) since i had other positions open yesterday, this is more of a patience exercise for me: i'll try to hold it as much as i can (position already BE+X). im looking beyond 115-116 area... towards +/-120area.
will post chart if price moves beyond 115/116 &/or if i dont get impatient & tighten my stop too much.
snap, iv been forward demoing an mm strategy iv been playing with a while, which allows me to cut risk quickly and leave some to run in the hope of catching a longer term trend. It is aimed at my low TF entries (15 min - 4h)
where the initial stop is lower.
im still holding from the 4h BOUB using this approach. Cutting my risk quickly has made me much more comfortable with holding over consolidation periods and larger drawdown
heres my chart. I have just moved my stop from 111.70.watching to see how price reacts to 114.00,but my stop wont move now till i get a good technical level to hide it beind.I think it is gonna be tough to get passed 116.00 with them swing highs to the left.?

jon
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PATIENCE... DISCIPLINE
  • #87,145
  • Jan 27, 2011 6:57am Jan 27, 2011 6:57am
Quoting g_j_hook@yah
snap, iv been forward demoing an mm strategy iv been playing with a while, which allows me to cut risk quickly and leave some to run in the hope of catching a longer term trend...
....
yeah, that 115/116 area would be key to unlock higher ground. i'll generously allot 4-12days for it to get breached.

im glad u are doing well with longer-term trades. in my case, it may take a few more years to become consistently patient. lol
Patience is my personal challenge & key to a fulfilling trading success.
  • #87,146
  • Jan 27, 2011 7:10am Jan 27, 2011 7:10am
Quoting supremeChaos
yeah, that 115/116 area would be key to unlock higher ground. i'll generously allot 4-12days for it to get breached.

im glad u are doing well with longer-term trades. in my case, it may take a few more years to become consistently patient. lol
Patience is my personal challenge & key to a fulfilling trading success.
"consistently patient".. lol like it.
i hear ye there though. Thats why im trying to make it easy for myself! lol

jon
PATIENCE... DISCIPLINE
  • #87,147
  • Jan 27, 2011 7:15am Jan 27, 2011 7:15am
Quoting sammy31
Thanks Ghous. I took the GBP/NZD trade and made 70pips but have now closed my position.
...
Hello Sam,
keep posting Sir!
  • #87,148
  • Jan 27, 2011 7:59am Jan 27, 2011 7:59am
i am glad that you benefited from my post but you know what, I did not enter a trade myself. I guess I am still learning and watching such setups and am contented with not pulling the trigger (at least for the moment)

Good trading!



Quoting supremeChaos
yeah, many thanks to ertorque.
i entered this right after his post, about 60 bars back on the current M15 chart, @112.85.
it moved pretty well today, a bit surprisingly.

very small position (no PA entry) since i had other positions open yesterday, this is more of a patience exercise for me: i'll try to hold it as much as i can (position already BE+X). im looking beyond 115-116 area... towards +/-120area.
will post chart if price moves beyond 115/116 &/or if i dont get impatient & tighten my stop too much.
  • #87,149
  • Jan 27, 2011 8:04am Jan 27, 2011 8:04am
Quoting triger88990
I had a hunch and checked my web management account and saw that one of my orders, from those that I gived instruction via cell phone to be closed, was still open. I call them back

I don't understand how they conduct business like that, thought they were more profesionals. All this operation has cost me like 430$, I can't handle it anymore.

I was connected to fxpro real.2 server, but the technical problems were more weird to me. I wasn't allowed to connect anymore to my account they keep giving me "invalid account" message....
Hope this wont happen again but just in case.. if you have an iphone or ipad you can download their app and if this happens again just try connecting with the iphone/ipad to close the open trades.

Os.
Trade Smart
  • #87,150
  • Jan 27, 2011 8:14am Jan 27, 2011 8:14am
Quoting ertorque
i am glad that you benefited from my post but you know what, I did not enter a trade myself....
no worries Sir, it's perfectly normal not to trade every setup/most setups we see posted here.

it will all depend on our experience, trading style, risk profile, &/or comfort level.
  • #87,151
  • Jan 27, 2011 8:23am Jan 27, 2011 8:23am
Quoting sammy31
Thanks Ghous. I took the GBP/NZD trade and made 70pips but have now closed my position.

I am finding the information that you are posting very useful, keep them coming. Really appreciated for us Newbies.

Sam
2.07 has held as resistance.

My other half on the trade was at BE and got stopped out for 0.

We hope to hear more from you Sam.

Welcome to the group.

g.
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I believe . . .
  • #87,152
  • Jan 27, 2011 8:23am Jan 27, 2011 8:23am
Quoting ghous
That's where your 'story' jumps in. Although an IB can be played in a way where you keep pending orders on both ends and cancel the one which does not trigger, I for one never feel comfortable in doing that.

For me it just boils down to the the story going on at the time, which helps me develop a bias for direction.

Let's take the very example of USD/SGD I posted the chart of.

We know that a price pivot zone is strong when price bounces off it and stays that way. If it keeps coming back it means either or both of 2 things: 1) The on going...
I was under the impression that you traded in the direction of the wick on an IPB.
  • #87,153
  • Jan 27, 2011 8:23am Jan 27, 2011 8:23am
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  • #87,154
  • Jan 27, 2011 8:27am Jan 27, 2011 8:27am
Quoting spookie94
I was under the impression that you traded in the direction of the wick on an IPB.
No it was just a short off an orthodox 14B.

g.
I believe . . .
  • #87,155
  • Jan 27, 2011 8:29am Jan 27, 2011 8:29am
Quoting ghous
Navashkar Avinash.

No that would not be a tradable IPB for me. To start off an IPB is a PIN BAR. So before it qualifies any requirements for an IPB it must qualify as a decent pin bar.

Would you have taken this same bar had it been inverted just like a regular pin bar? Compare the size of the BEBs that mark the down move with the IPB. Would 9400 be enough of a reason to push you to go against the down trend based off such a small and hence weak PA setup? Was 9300 or the 9500 a comparatively better location for an IPB?

I can see...
Did you hesitate to take the GBP/NZD trade due to the large BEOB before it?
  • #87,156
  • Jan 27, 2011 8:33am Jan 27, 2011 8:33am
Quoting g_j_hook@yah
hi madboy, welcome aboard

that chart looks fine. i have my FTA at 1.3900-1.3930 aswell. After that i have 1.40-1.4050
keep posting.

jon
Is your PA a IB for this trade?
  • #87,157
  • Jan 27, 2011 8:37am Jan 27, 2011 8:37am
Quoting ghous
No it was just a short off an orthodox 14B.

g.

OK, thanks for the explination.
  • #87,158
  • Jan 27, 2011 8:40am Jan 27, 2011 8:40am
Quoting spookie94
Did you hesitate to take the GBP/NZD trade due to the large BEOB before it?
The only hesitation was the 2.07 RN, and I adjusted my trade plan accordingly (took half profit once price hit it and set the remainder to BE)

Given the overall location of the bar and the bullish close I decided it was worth a shot. The pair was due for a pull back anyways after the 600 pip free fall.

I think that's the key word here... pull back. I wasn't looking for a resumption of the up move. I was looking merely for a little breather after that action movie.

And then again some bars just make you smile...and this for me was amongst them, one of those that you see and you know they're waiting to be played with.

g.
I believe . . .
  • #87,159
  • Jan 27, 2011 8:49am Jan 27, 2011 8:49am
Quoting Adilius07
I need to find a way to minimize loss and maximize gain, otherwise it will not work for me

drives me crazy this insolvency
I tried to find ways to deal with the same issue. Then I realized I should have been looking at it in a different perspective. Try this: Forget about maximizing gain/ min loss or R:R. Start looking at just trading to improve your win percentage. Work on getting it up to 80-90%. As others say you can even count breakevens as a win if you like. Now as your doing this keep track of how often your trades reach your FTA. This can help you to analize if a losing trade did make it to your FTA but you failed to act or your need work on identifing correct FTAs. Yes you might feel like your making gains at a snails pace in the beginning but this should help you get started on MM. Hope this helps
  • #87,160
  • Jan 27, 2011 9:41am Jan 27, 2011 9:41am
Quoting dabbledave
Looking for bearish price action to short. Any thoughts on this?
Here is a beautiful PPZ to watch at 1.4
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