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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

  • #87,781
  • Feb 3, 2011 4:08am Feb 3, 2011 4:08am
Quoting grahamec
I keep getting "no connection" and "invalid account" on my FxPro MT4 platform.
...
hey G,
is it a demo account? demo account may have expired.
try creating a new account.
  • #87,782
  • Feb 3, 2011 4:09am Feb 3, 2011 4:09am
Quoting grahamec
I keep getting "no connection" and "invalid account" on my FxPro MT4 platform.
Anyone any ideas why ?
G
Is it a demo account? Did it expire?

If not, call your broker, their server may be down
  • #87,783
  • Feb 3, 2011 4:10am Feb 3, 2011 4:10am
SNAP!!!!!
  • #87,784
  • Feb 3, 2011 4:11am Feb 3, 2011 4:11am
Hi SC
Yes it is demo, so I will create a new one I just hoped I would not lose the positive balance in this one
Thanks for your reply
  • #87,785
  • Feb 3, 2011 4:15am Feb 3, 2011 4:15am
Quoting grahamec
Hi SC
Yes it is demo, so I will create a new one I just hoped I would not lose the positive balance in this one
if i remember correctly,
u will lose it, in so far as opening a new account.(it will not appear in your new account; your positive balance can't be carried over to your new account).
but unless u delete your current account, u will not lose it (trade details).

Quoting Ifmyante
SNAP!!!!!
  • #87,786
  • Feb 3, 2011 4:24am Feb 3, 2011 4:24am
Thanks SC
There is no "trade" tab now on the current account so I guess all will be lost, but if I can do it once I can do it again. What leverage should I be using please ?
  • #87,787
  • Feb 3, 2011 4:28am Feb 3, 2011 4:28am
This is the postmortem on the EUR/GBP pinbar.
This was a demo trade as it was not even in my mind an A+ setup at the time.

I feel it is best to learn something from failed trades, rather than ignoring them and I am interested in hearing anyone's opinions.

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  • #87,788
  • Feb 3, 2011 4:28am Feb 3, 2011 4:28am
Trading isn't all technical analysis
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  • #87,789
  • Feb 3, 2011 4:30am Feb 3, 2011 4:30am
Quoting xmzhang
Price did break that 2_day PB, i've moved my stop just above the low of the 2_day PB and locked in about 80 pips, lets see if the daily PPZ @ 13650 provides resistance ...........
Bummer !#%&* looks like price is going down all the way, unfortunately price stopped me out yesterday, I moved my stop on tuesday ! This is the most difficult part of trading: managing a trade. In hindsight maybe I should've waited to move my stop until price made a new swing high on the 4H-TF and then move my stop just above that new swing high ..........
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Pipcrawler
  • #87,790
  • Feb 3, 2011 4:32am Feb 3, 2011 4:32am
Quoting grahamec
...
There is no "trade" tab now on the current account so I guess all will be lost, but if I can do it once I can do it again. What leverage should I be using please ?
of course u can do it again.
use the least leverage available to u. or the leverage u are comfortable using.

u can check your older account by clicking on Accounts, then account number/login ID. i believe u can see your trade transactions list. check it anytime u like.
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  • #87,791
  • Feb 3, 2011 4:38am Feb 3, 2011 4:38am
Quoting supremeChaos
hey guys,
it's already February.
so u should open a new chart (NGH1)
Thanks SC....I'm new to futures so didn't "realise" there was a new chart

cheers

  • #87,792
  • Feb 3, 2011 4:39am Feb 3, 2011 4:39am
Quoting supremeChaos
of course u can do it again.
use the least leverage available to u. or the leverage u are comfortable using.

u can check your older account by clicking on Accounts, then account number/login ID. i believe u can see your trade transactions list. check it anytime u like.
Attachment
Found it , thanks a lot SC
Rgds
G
  • #87,793
  • Feb 3, 2011 4:45am Feb 3, 2011 4:45am
Quoting sr2
...I'm new to futures so didn't "realise" there was a new chart..
sure, no problem.
i dont have experience with futures too.

futures contracts expire monthly (i believe a few days before month-end). so u have to open new charts (for next month's contract).
so if the futures chart stops updating, it's time to open another chart.

here's a little reference/cheat sheet
http://www.forexfactory.com/showpost...ostcount=46302

so, in our previous posts,
NGG1 = old chart (Natural Gas February* 2011 contract)
NGH1 = new/current chart(Natural Gas March* 2011 contract)

~~~~~~~~~~~~~~
from Investopedia,
A futures contract is a type of derivative instrument, or financial contract, in which two parties agree to transact a set of financial instruments or physical commodities for *future delivery at a particular price
  • #87,794
  • Feb 3, 2011 5:03am Feb 3, 2011 5:03am
Quoting mbqb11
Hey SG

Notice this bar is at a swing low, remember James teaches us to learn these at swing high points first. So just be cautious when first learning these I think learning them where James teaches is easier before trying to play continuations

Best
Mike
Thanks Mike, think I've got it. I guess I've trained myself over my trading time to look for conslidation, breakout and retest setups with the trend. I'll be looking for reversal setups aswell as continuation from now on...


Quoting jarroo
I agree with the 1.3750 . . . your proof of this is on your Daily chart at that level. Good potential Support level.
Thanks guys
  • #87,795
  • Feb 3, 2011 5:05am Feb 3, 2011 5:05am
Some off the table and the rest in for a free lunch

g.
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I believe . . .
  • #87,796
  • Edited 5:57am Feb 3, 2011 5:11am | Edited 5:57am
Quoting Pinbar
This is the postmortem on the EUR/GBP pinbar.
This was a demo trade as it was not even in my mind an A+ setup at the time.
I feel it is best to learn something from failed trades, rather than ignoring them and I am interested in hearing anyone's opinions.
...
havent checked this latest vid...

a few observations:
-relatively small pin.
-i think this is 1 example of waiting for a decisive break for a pin. (if i remember correctly, u said it only broke 3pips when u opened a position)
-avoid trading towards a PPZ &/or RN/BRN. (this pin was trading into 0.86, which was only about 25pips away)
-price was relatively rangy, looking at your chart
-0.8500 didnt hold as support (this was near the PB's low). it was broken with momentum too.

good thing this is a demo trade

edit:
viewed it just now..
  • #87,797
  • Feb 3, 2011 5:14am Feb 3, 2011 5:14am
Quoting xmzhang
Bummer !#%&* ..This is the most difficult part of trading: managing a trade......

i hear u
it takes a LOT of practice & a bit of luck.

Quoting Ifmyante
Trading isn't all technical analysis
expect possibility of your trade revisitng low- & mid-1.30's
...specially if 1.35 doesnt hold as good support.
  • #87,798
  • Feb 3, 2011 5:17am Feb 3, 2011 5:17am
Quoting supremeChaos

i hear u
it takes a LOT of practice & a bit of luck.


expect possibility of your trade revisitng low- & mid-1.30's
...specially if 1.35 doesnt hold as good support.
Thanks SC. That's the dream!
  • #87,799
  • Feb 3, 2011 5:23am Feb 3, 2011 5:23am
Quoting Ifmyante
...That's the dream!
(assuming it becomes a runner) the solution is.... PATIENCE



im trying to plant several acres full of Patience trees myself.
  • #87,800
  • Feb 3, 2011 5:34am Feb 3, 2011 5:34am
Quoting supremeChaos
(assuming it becomes a runner) the solution is.... PATIENCE



im trying to plant several acres full of Patience trees myself.
Good music keeps me calm
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