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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

  • #88,461
  • Feb 9, 2011 6:33am Feb 9, 2011 6:33am
Such a flat week
40ish pips so far, and relieved to get them
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  • #88,462
  • Feb 9, 2011 6:34am Feb 9, 2011 6:34am
Quoting Fxpat
Hey Adi,

I've seen you tossing and thinking about this for past couple of months. Tough one hey.....

I can tell you what definately works for me. Its really simple. I think we need the occasional runner to keep the account ticking over. Like you say if we continually take full profit at FTA then 1 loss will wip out 3 winners. The best thing in my eyes to do is protect yourself whilst giving your trade a chance to make big bucks.

I personally take 1/3 profit always at the FTA. I then move whole position to BE and manage with subjectivity and...
Hi Fxpat, sorry missed your post. Yes this also sounds logical to me. I was thinking about the same way too. But more like Jarroo does this (net breakeven). But my problem was always which one method to take, like Ghous show those fast and "secure" hits or like Jarroo's net breakeven and hold it for more...

And really like TJ points out, there is no problem, I will just apply both. If I see a strong trend, or some nice space to move I will apply either brekeven or net breakeven free trade... (I need to think how to trail it now though...maybe Mike's 2 bar trail or EMA trail...)

Today is a good day, I got so many replies and new ideas, I need to sit and think over it. I feel I am getting closer to finding my way of doing this. Still need to think, but I will find something
Thanks!
  • #88,463
  • Feb 9, 2011 6:41am Feb 9, 2011 6:41am
Quoting madboy
Buob on the daily,H&S and TL broken violently on 4h,retrace and....see chart.
Might be one scenario...any other?
I'm just watching this and it's doing alright,price might actually reach 1379.00.
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  • #88,464
  • Feb 9, 2011 7:25am Feb 9, 2011 7:25am
Quoting Adilius07
Thanks for reply. Me too 5 years already. I even worked on the Stock Exchange for 1.5 years in top management. Worked for Brokerage for almost 2 years also as a head of trading department. I have never seen 1 profitable person there, no one trades their own money... and of course I'm on my own 24/7... nothing works so far..

yow ain't that something.
  • #88,465
  • Feb 9, 2011 7:31am Feb 9, 2011 7:31am
Quoting Fxpat
I have a query that has always amazed me about James 16. Does anyone else seem to notice how much harder and complicated many traders try to make things than what they have to be? I have watched this thread for a few years now and the junior traders make things so complicated and look far to hard to find things that arent their, whilst the seniors make it look simple and easy. In my opinion thats because it really should be treated that simply. Does anyone else notice this or feel the same way?

Anyways a recent trade. GBPNZD daily. Half profit...
hey FXP

totally agree - I posted earlier on the topic saying that the best traders(J16, Jaroo etc) keep it simple. I am guilty of analysis paralysis but tring hard to simplify it!

On The GN trade I noticed this one but thought the previous bar highs too near so not worth the risk. There is no right or wrong as we all have our own view of the market but simple is best in my opinion. The difficult part is applying our strategy consistently and mastering the psychology part.

Kal
  • #88,466
  • Feb 9, 2011 7:38am Feb 9, 2011 7:38am
FXpat

The chat shows FTA is very close so Thats the reason I skipped this trade. I do watch this pair so will wait for a clearer setup.

best,

kal
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  • #88,467
  • Feb 9, 2011 7:59am Feb 9, 2011 7:59am
I once would have jumped on this trade by touch.

But if any of you saw the movie, 'Colours' I think it was, with the story of the two bulls on the hill looking down on all the cows, you'll understand why I'll wait patiently for some PA to enter
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  • #88,468
  • Feb 9, 2011 8:06am Feb 9, 2011 8:06am
Quoting Adilius07
Hi, its me again... man I am going crazy..never in my life I have not had such a hard time making a choice!!!...
Hey Adi

I think you should just simply check multiple types of exits for an entire year. On demo with all your trades in a spreadsheet. After one year take a look at that data, it will be real data you tracked yourself, and proven to yourself. Then work off that. Don't just think about what you want to do, start doing it and prove it one way or the other. You shouldn't take anyone's word for it, but prove to yourself what will work for you

Take care
Mike
  • #88,469
  • Feb 9, 2011 8:09am Feb 9, 2011 8:09am
Quoting poncho1
Hey Danny,

Nice trade but I have a question, was your only trigger the double bottom? I was still short from the close below the BRN so I didn't take this.

Poncho
Hey Poncho, what's up.

Yes, the double bottom was my trigger. I don't catch them all, but I liked the conditions preceding this 'touch' setup.

-- Danny
  • #88,470
  • Feb 9, 2011 8:20am Feb 9, 2011 8:20am
Quoting Pinbar
Hey, Twee.

If you are going to delete my posts without even first requesting me to remove them with a valid reason, or informing me after the fact, you guys are getting to be as bad as China in the censorship area.

I think it is improper of you to do this and this is a COMPLAINT!
I requested it be removed Pin. There is no place for language like that on a trading forum. It is against FF policy.

Best
Mike
  • #88,471
  • Feb 9, 2011 8:23am Feb 9, 2011 8:23am
Quoting Ifmyante
Hi Stew

I see nothing but a range between 50 and 61.8 of last downmove. No PA on my feed

Thanks for the replies folks

I got in anyway - I'll post a chart later explaining why.
  • #88,472
  • Feb 9, 2011 8:24am Feb 9, 2011 8:24am
Quoting mbqb11
I requested it be removed Pin. There is no place for language like that on a trading forum. It is against FF policy.

Best
Mike

Well, don't you think you should have asked me to remove it first, rather than having my post removed. I also don't recall me posting any abusive vocabulary in that post!
  • #88,473
  • Feb 9, 2011 8:25am Feb 9, 2011 8:25am
Quoting Fxpat
I have a query that has always amazed me about James 16. Does anyone else seem to notice how much harder and complicated many traders try to make things than what they have to be? I have watched this thread for a few years now and the junior traders make things so complicated and look far to hard to find things that arent their, whilst the seniors make it look simple and easy. In my opinion thats because it really should be treated that simply. Does anyone else notice this or feel the same way?

Anyways a recent trade. GBPNZD daily. Half profit...

I agree Pat

It took me awhile myself to strip my charts down and just realize all we are looking at is buying and selling. To approach the market in a simple fashion has helped me over the years greatly. In fact probably what got me over the hump. I think to over complicate is human nature and we do it our whole lives. Probably why some of these young guys/gals come out of the gate smokin.

Simple is better for sure bud

Mike
  • #88,474
  • Feb 9, 2011 8:26am Feb 9, 2011 8:26am
Quoting Pinbar
Well, don't you think you should have asked me to remove it first, rather than having my post removed. I also don't recall me posting any abusive vocabulary in that post!
I reported his post only. Twee scans for any relevant posts that have nothing to do with trading(aka your post quoting his post with the bad word ) which in turn just perpetuates the conversation and away from what this forum is about , trading. Not sure what the big deal is here, were trying to get back to trading after someone put you down. Isn't that why everyone comes here ? for trading right

Let's move on Pin, it looked like you did last night which I was glad to see

Mike
  • #88,475
  • Feb 9, 2011 8:29am Feb 9, 2011 8:29am
Quoting mbqb11
I reported his post only. Twee scans for any relevant posts that have nothing to do with trading(aka your post quoting his post with the bad word ) which in turn just perpetuates the conversation and away from what this forum is about , trading. Not sure what the big deal is here, were trying to get back to trading after someone put you down. Isn't that why everyone comes here ? for trading right

Let's move on Pin, it looked like you did last night which I was glad to see

Mike

The big deal here is, people removing peoples posts, without mentioning it to them or first requesting them to comply.

You could have asked me to remove it instead of having it trashed.
It makes perfect sense to me.
  • #88,476
  • Feb 9, 2011 8:30am Feb 9, 2011 8:30am
Quoting Kalbar
FXpat

The chat shows FTA is very close so Thats the reason I skipped this trade. I do watch this pair so will wait for a clearer setup.

best,

kal

Hey Kal,

yes close FTA however my trade style allows me to trade with FTA's that are close.

The way I see it is, the chance of this going to the FTA which was 35-50 points away was very high. I simply moved to BE once it was there and Ill either get BE or ill get a runner. Either way im protected and fully aware of a possible reversal.
  • #88,477
  • Feb 9, 2011 8:31am Feb 9, 2011 8:31am
Quoting Pinbar
The big deal here is, people removing peoples posts, without mentioning it to them or first requesting them to comply.

You could have asked me to remove it instead of having it trashed.
It makes perfect sense to me.
I don't think you get it Pin. It is against FF policy. The one you agree to when you sign up. Much like this conversation should be removed now.

I am sorry someone came after you , it was uncalled for. I then had it removed as it was irrelevant to trading and this thread, and as well hurtful to leave up.

I am sorry for doing what FF asks by keeping threads to trading only

Back to trading for me

Mike
  • #88,478
  • Feb 9, 2011 8:35am Feb 9, 2011 8:35am
Quoting mbqb11
I don't think you get it Pin. It is against FF policy. The one you agree to when you sign up. Much like this conversation should be removed now.

I am sorry someone came after you , it was uncalled for. I then had it removed as it was irrelevant to trading and this thread, and as well hurtful to leave up.

I am sorry for doing what FF asks by keeping threads to trading only

Back to trading for me

Mike
Yeah, well next time, I would appreciate being asked to remove it.
Thanks in advance

End of subject.
  • #88,479
  • Feb 9, 2011 8:36am Feb 9, 2011 8:36am
Quoting mbqb11
I agree Pat

It took me awhile myself to strip my charts down and just realize all we are looking at is buying and selling. To approach the market in a simple fashion has helped me over the years greatly. In fact probably what got me over the hump. I think to over complicate is human nature and we do it our whole lives. Probably why some of these young guys/gals come out of the gate smokin.

Simple is better for sure bud

Mike
Mike

Spot on - have posted on this 3 times today. The best traders on here like J16, Jarroo and yourself all have one thing in common - simplicity!
It is what I am striving for but as you say it takes time. There is so much 'noise' to listen to that it takes a while to realise that simple is best.

I believe that anyone can succeeed at this if they apply simplicity and consistency.........but easier said than done of course!

Kal
  • #88,480
  • Feb 9, 2011 8:38am Feb 9, 2011 8:38am
Quoting Kalbar
Mike



I believe that anyone can succeeed at this if they apply simplicity and consistency.........but easier said than done of course!

Kal
You can say that again Kal.
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