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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

  • #87,421
  • Jan 31, 2011 12:51am Jan 31, 2011 12:51am
Don't mean to slow down the flow of the charts this morning, but I thought I should finally stop lurking about and say thanks. I finished my 3 month "demo" (actually used small live account and lasted for 5 months) last fall, my "half account" period, and am nicely into my full account period.

During demo only traded a couple of pairs but had enormously successful months and this changed the game for me. Had a great 1500 pip move that showed me moves like this can happen to me, 200 pip runners have become the average, and my success rate has gone from complete loser to 80+%.

Trading daily charts and sometimes look in on 4 hour charts for my main account. Finishing up a demo period on faster charts and it is amazing how much better this has made me on any timeframe, in any market, etc.

For anyone lurking about on the thread wondering if you can have success or those new to trading, this is the place to be. Go back to page one and follow the script. Go to the website and watch everything in the guest area. Start your demo. Follow along in the thread and watch the experts.

Forex doesn't have to be hard all you really need is practice, patience, confluence, and knowledge of the chart patterns taught in the thread.

Thanks again!
Be bullish on you.
  • #87,422
  • Jan 31, 2011 1:20am Jan 31, 2011 1:20am
Quoting gejordan
Don't mean to slow down the flow of the charts this morning, but I thought I should finally stop lurking about and say thanks. I finished my 3 month "demo" (actually used small live account and lasted for 5 months) last fall, my "half account" period, and am nicely into my full account period.

During demo only traded a couple of pairs but had enormously successful months and this changed the game for me. Had a great 1500 pip move that showed me moves like this can happen to me, 200 pip runners have become the average, and my success rate has...
Thanks for your post! Very motivating, for me for sure!
  • #87,423
  • Jan 31, 2011 1:27am Jan 31, 2011 1:27am
Quoting gejordan
..I finished my 3 month "demo"...
awesome gejordan!

hope to see your charts soon!
  • #87,424
  • Jan 31, 2011 1:49am Jan 31, 2011 1:49am
Quoting gejordan
Don't mean to slow down the flow of the charts this morning, but I thought I should finally stop lurking about and say thanks. I finished my 3 month "demo" (actually used small live account and lasted for 5 months) last fall, my "half account" period, and am nicely into my full account period.

During demo only traded a couple of pairs but had enormously successful months and this changed the game for me. Had a great 1500 pip move that showed me moves like this can happen to me, 200 pip runners have become the average, and my success rate...
Great post Gejordan
  • #87,425
  • Jan 31, 2011 1:50am Jan 31, 2011 1:50am
Quoting supremeChaos
awesome gejordan!

hope to see your charts soon!
Yes, it is in an interesting post.

In retrospect, I find it interesting that this person only demo traded a couple of pairs. I was looking at 25-30 pairs and I think it is better to stick to 5 at the most. This allows us to focus much more on them.
To be honest, even now, I often forget about a pair I had setup on the larger tf, while I am waiting for the PA to trigger.

Good post & welcome.
  • #87,426
  • Jan 31, 2011 1:56am Jan 31, 2011 1:56am
FTA = first trouble area
PPZ = price pivot zone
BEOB = bearish Engulfing outside bar
BUOB = bullish Engulfing outside bar
PB = pin bar
DBLHC = double Bar low higher close
DBHLC = double Bar high lower close
IB = inside bar
Ib4 = inside 4 bar
S/R = support/resistance
PA = price action
RN = round number
BRN = big round number
MA = moving average
TL = trend line
BO = breakout
BO + PB = breakout + pullback
RET = retracement
DIV = divergence
CT = counter trend
SL = stop loss
TP = take profit
BE = break even
FTB = First time back
PBT&CB= price breaks through & closes below
PBT&CA= price breaks through & closes above
RT= retest
  • #87,427
  • Jan 31, 2011 1:57am Jan 31, 2011 1:57am
As the question about PBT&CA was asked today, I think it is time to update the PA terminology with it. As Jarroo uses it a lot and it has now be used so much I feel it is a valid terminology.
  • #87,428
  • Jan 31, 2011 2:13am Jan 31, 2011 2:13am
Quoting gejordan
Don't mean to slow down the flow of the charts this morning, but I thought I should finally stop lurking about and say thanks. I finished my 3 month "demo" (actually used small live account and lasted for 5 months) last fall, my "half account" period, and am nicely into my full account period.

During demo only traded a couple of pairs but had enormously successful months and this changed the game for me. Had a great 1500 pip move that showed me moves like this can happen to me, 200 pip runners have become the average, and my success rate has...
Wow!

What makes this post amazing is not that he's found good success with the method, its due to the fact that he showed brilliant discipline in following what the thread demanded from him...after that the outcome just had to be positive.

If all newbies would go through this post 10 times and realize the importance of not jumping ahead of themselves by thinking about making money more than learning how to survive in the long run.

Fact is a lot of people can't show this level of discipline, me included. God knows how much I could have shrunk the learning curve had I just stuck to what was being told and asked to begin with.

That entrance couldn't have been better Jordan.

Welcome to the group.

g.
I believe . . .
  • #87,429
  • Jan 31, 2011 2:17am Jan 31, 2011 2:17am
Quoting Pinbar
Yes, it is in an interesting post.

In retrospect, I find it interesting that this person only demo traded a couple of pairs. I was looking at 25-30 pairs and I think it is better to stick to 5 at the most. This allows us to focus much more on them.
To be honest, even now, I often forget about a pair I had setup on the larger tf, while I am waiting for the PA to trigger.

Good post & welcome.
Thanks for the welcome. I only traded a couple of pairs because I was so broken. Two years of failure and countless thousands spent, I had to completely change my game. In hindsight, 4 or 5 would probably have been manageable, but I had a mental block because I always traded 4 or 5 prior to J16 and failed. Now I look at quite a few for my daily trading and I realize it wasn't the number of pairs that was my problem.
Be bullish on you.
  • #87,430
  • Jan 31, 2011 2:18am Jan 31, 2011 2:18am
Quoting Pinbar
Yes, it is in an interesting post.

In retrospect, I find it interesting that this person only demo traded a couple of pairs. I was looking at 25-30 pairs and I think it is better to stick to 5 at the most. This allows us to focus much more on them.

Good post & welcome.
Hmmmm, interesting. My pairs have increased since joining the thread. I may have to cull a few, I'm loosing perspective :nerd:
  • #87,431
  • Jan 31, 2011 2:24am Jan 31, 2011 2:24am
Quoting supremeChaos
are both live/demo feeds, or 1 demo & 1 live?

interesting chart, im still staring at it now.
so far, all i see is that IBFX's GBPAUD, has its name, on the top left corner, says 'GBPAUDm', which i think means 'mini'. this maybe 1 clue.
also, the price range is different. IBFX, from top to bottom is 2.100+ to 1.34ish, while FXPro's is 3.00ish to 1.50ish

hmm.. is it possible 1 of the two charts is not a true gbpaud??
Yes they're both demo -IBFX a mini whereas FXPro only says Demo-USD when i registered.Weird, eh? If you're on other platform, can you show me what your monthly looks?
Thanks
  • #87,432
  • Jan 31, 2011 2:27am Jan 31, 2011 2:27am
Quoting jarroo
I see your still liking the Aud/Chf . .its a tough pair, friend. You may want to re-read Mike's take on this pair and BRNs.

welcome to the Aud/Chf.
Thanks Jim,

only interested in how price reacts to confluence between the two ema's.

I think I may be seeing a demonstration
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  • #87,433
  • Jan 31, 2011 2:38am Jan 31, 2011 2:38am
Quoting 5.25
Hmmmm, interesting. My pairs have increased since joining the thread. I may have to cull a few, I'm loosing perspective :nerd:

Yes, I feel only watching a handful is better.
Until, we get used to to seeing things or not seeing things.
  • #87,434
  • Jan 31, 2011 3:16am Jan 31, 2011 3:16am
Quoting Pinbar
FTA = first trouble area
...
thanks for the updated abbreviation list, Steve

Quoting Pinbar
Yes, it is in an interesting post.
In retrospect, I find it interesting that this person only demo traded a couple of pairs. I was looking at 25-30 pairs and I think it is better to stick to 5 at the most. This allows us to focus much more on them.....
Quoting 5.25
Hmmmm, interesting. My pairs have increased since joining the thread. I may have to cull a few, I'm loosing perspective
trade more pairs & look for quality setups..
or trade a few and focus&get to know them intimately?
the answer lies on each one's personality.

Quoting ghous
...
Fact is a lot of people can't show this level of discipline, me included. God knows how much I could have shrunk the learning curve had I just stuck to what was being told and asked to begin with....
& me..

Quoting Be Cool
Yes they're both demo -IBFX a mini whereas FXPro only says Demo-USD when i registered.Weird, eh? If you're on other platform, can you show me what your monthly looks?
Thanks
i dont have a live account with an MT4 broker... yet.
i only have ibfx & fxdd demo on this PC. fxdd doesnt have that pair. my ibfx is the standard account type(yours is mini).

i must apologize, this is all i have right now. (IBFX)
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it might be possible that u are using a different server feed on either 1 of your 2 charts (most likely, your IBFX feed). i still cant figure it out
  • #87,435
  • Jan 31, 2011 3:17am Jan 31, 2011 3:17am
Quoting Pinbar
FTA = first trouble area
PPZ = price pivot zone
(...)
You read my mind. Five minutes ago I wanted to ask for a "dictionary". Even made a list of acronyms.

Thanks a lot.

Ps.This should be somewhere on the first page hooked
  • #87,436
  • Jan 31, 2011 3:27am Jan 31, 2011 3:27am
Quoting Greenhaze
On the contrary view...This daily setup would be easier to manage on H4 imo. the spike is strong and 0.7740 shoulder (good place to hide the stop) shoud keep you in the trade. break of 0.7700 rn with 0.7670 fta might give good RR.
Daily PB / H8 Strong PB with shoulder at 0.7740. Price made lower low and retraced to where all the big sell orders were waiting (shoulder + fib 50% confluence). Easy play with simple rules and tight sl
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  • #87,437
  • Jan 31, 2011 3:57am Jan 31, 2011 3:57am
Quoting pin54
You read my mind. Five minutes ago I wanted to ask for a "dictionary". Even made a list of acronyms.

Thanks a lot.

Ps.This should be somewhere on the first page hooked
Glad it was useful.
I am not able to do that but, the link to it is always in my signature and anyone can access it by clicking on the link.
  • #87,438
  • Jan 31, 2011 4:06am Jan 31, 2011 4:06am
Quoting Greenhaze
Daily PB / H8 Strong PB with shoulder at 0.7740. Price made lower low and retraced to where all the big sell orders were waiting (shoulder + fib 50% confluence). Easy play with simple rules and tight sl
Czesc Greenhaze

I'm in this one too, only my entry was not as considered as yours. I jumped straight in off the daily without the retracement.

I like your style A lesson to remember.
  • #87,439
  • Jan 31, 2011 4:51am Jan 31, 2011 4:51am
I know it looks pedantic to have a PPZ at .9982, so close to parity. I'm just amused at price finding support there for the moment.

Certainly though, parity would be a stronger place to look for support, I'm sure.
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  • #87,440
  • Jan 31, 2011 5:17am Jan 31, 2011 5:17am
Quoting Ifmyante
I know it looks pedantic to have a PPZ at .9982, so close to parity. I'm just amused at price finding support there for the moment.

Certainly though, parity would be a stronger place to look for support, I'm sure.
if support doesnt hold we might see drop to bootm TL.

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