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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

  • #89,221
  • Feb 16, 2011 8:29am Feb 16, 2011 8:29am
Quoting 5.25
Does this IPB hold much PA relevance, or was this a reaction to some sort of news data? This one really took off!

(Just getting my head round IPB, though not trading).
I don't see an IPB on that chart...

g.
I believe . . .
  • #89,222
  • Feb 16, 2011 8:49am Feb 16, 2011 8:49am
Just my wishful thoughts
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  • #89,223
  • Feb 16, 2011 8:57am Feb 16, 2011 8:57am
Quoting Ifmyante
Just my wishful thoughts
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sell stop at 0.9558 , sl 0.9985 and tp around 9840.

my line. anyway i wait for huge sell off due bearish divergence on weekly frame.

Phanti
Hero calls followed by margin calls...
  • #89,224
  • Feb 16, 2011 9:05am Feb 16, 2011 9:05am
Quoting Atc
Mike or anyone else who has been watching this.

Did anyone execute this as a break out and curious as to which bar you entered. Here is a daily chart. I would trust you would have entered on a signal from a smaller time frame.

I'm posting it up to stimulate some discussion how to execute these.

All comments welcomed
Hey Bill

I don't have any breakout patterns that I find tradeable on this one so nothing from me on this one personally. Just watching 7500 for clues since it is a big PPZ
  • #89,225
  • Feb 16, 2011 9:09am Feb 16, 2011 9:09am
Quoting mbqb11
Hey Bill

I don't have any breakout patterns that I find tradeable on this one so nothing from me on this one personally. Just watching 7500 for clues since it is a big PPZ
  • #89,226
  • Feb 16, 2011 9:23am Feb 16, 2011 9:23am
Quoting PhAnTi'
Attachment

sell stop at 0.9558 , sl 0.9985 and tp around 9840.

my line. anyway i wait for huge sell off due bearish divergence on weekly frame.

Phanti
I do hope your order gets filled
  • #89,227
  • Feb 16, 2011 10:06am Feb 16, 2011 10:06am
Quoting Adilius07
Hi Pinbar, no no I meant the Breakeven. Moving SL to Breakeven.
I learned the hard way that physical SL is a must of course. There is no doubt about this in my head... but my dizzy head is questioning the BE concept now, lol, do you move to BE quickly or how you do it? For example as I noticed Mike is not that quick with BE, instead he slowly reduces risk. How you do it?
Hey Adi

Once you realize that there isn't one single way to make things work you will ease your mind. There are trade-offs. Every method has tradeoffs. One that goes to b/e quick has positives and negatives. One that doesn't has positive and negatives. You have to know what these trade offs are. For example I don't go to b/e right away but in turn I have to be more patient and picky in my trades. I also have more losses in a row then someone who gets stops moved quick.

There isn't one single thing that will make you profitable. You have to look at things as tools and what tools work for you and putting them together. This is your grail.

Best
Mike
  • #89,228
  • Feb 16, 2011 10:06am Feb 16, 2011 10:06am
Retrace to strong ppz,IB on 1hr and bang...I hope
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  • #89,229
  • Feb 16, 2011 10:12am Feb 16, 2011 10:12am
Quoting Atc
Some months ago, I had problems with this EA. I demoed it well, so I thought took it live and had some unfortunate experiences with it. As best as I remember, there were a couple of issues I encountered. One I remember is having multiple lots of the same pair. I no longer use it.

I am still searching for a reliable break even EA with having different profit targets.



Recently, I have downloaded a free trial of MYFX. But, I have not had the time to test it.

Anyone using a reliable EA Breakeven with Multiple Profit Targets, please let me...
Thank you ATc for the response. It was working ok on FXDD (demo) though I did have one occassion it did not make my trade to BE.
First time on Oanda and it failed.

I desperately need EA to Break-even and to take multiple profits.. Most of time, I don't monitor my trades.
  • #89,230
  • Feb 16, 2011 10:13am Feb 16, 2011 10:13am
Quoting madboy
Retrace to strong ppz,IB on 1hr and bang...I hope

Yeah that is actually a good horizontal line on daily.... I opted to stay out because price is under 135.00. It definitely has potential to be a good trade for you.
Many choose unhappiness over uncertainty.
  • #89,231
  • Feb 16, 2011 10:14am Feb 16, 2011 10:14am
Quoting NosferatuMan
Hey Adi and Bluetrader,

I'm also happy about MT4 with Oanda.

With MT4 you can not have less than 0.10 lot size but we can go around that matter easily.

I'm demoing it and what I do is to set the trades in the FXgame/trade platform with the units I want, and once they are triggered, I managed them in MT4.

This means you can have the flexibility of the units already available with Oanda, with the possibility to manage the trade with an EA.

I hope this is clear enough for you guys.

Cheers,
Nos
Is it ? Can this be done ? I will try this approach. However, I need a good EA to manage my trades.
  • #89,232
  • Feb 16, 2011 10:14am Feb 16, 2011 10:14am
Quoting mbqb11
Hey Adi

Once you realize that there isn't one single way to make things work you will ease your mind....
Hi, Mike, very strong points, thank you very much! You know sometimes I felt that whatever method I choose I will get somehow similar results, just like you said every method has its trade offs... I mean if my picks are bad I will fail with BE or without... so yeah maybe I need to focus on my picks more.

I think I will just stick to my simple BE rule. For now. For some time...

Sorry for bringing this subject up so many times! Thanks.
  • #89,233
  • Feb 16, 2011 10:21am Feb 16, 2011 10:21am
Quoting Dan Gilbert
Yeah that is actually a good horizontal line on daily.... I opted to stay out because price is under 135.00. It definitely has potential to be a good trade for you.
I have 40 pips to move my stop to be and I really don't expect to much from this,on daily the left side is a big mess.
  • #89,234
  • Edited 11:02am Feb 16, 2011 10:42am | Edited 11:02am
Quoting cprao
I desperately need EA to Break-even and to take multiple profits.. Most of time, I don't monitor my trades.
Monitoring trades is a constant problem for me also.

Check out MYFX....first impressions..http://www.myfx.com.au/ seems well put together program...but haven't had the opportunity to check it out in depth. Still work in progress trying to find the time.

I find the thing that sucks about MT4 are the EA's will only be effective if the computer is on...We loose power were I live from time to time. It makes me want to use the brokers platform as long as the EA and Multiple profit targets would be available......just hate to start using another platform.

Put me in the desperately seeking EA with multiple profit targets Club.
  • #89,235
  • Feb 16, 2011 10:44am Feb 16, 2011 10:44am
Quoting Adilius07
Hi, Mike, very strong points, thank you very much! You know sometimes I felt that whatever method I choose I will get somehow similar results, just like you said every method has its trade offs... I mean if my picks are bad I will fail with BE or without... so yeah maybe I need to focus on my picks more.

I think I will just stick to my simple BE rule. For now. For some time...

Sorry for bringing this subject up so many times! Thanks.
There is nothing to apologize for bud

I just want you to understand that whatever method you choose to refine and make work for you will have its ups and downs. The downs are what you pay for to get the ups. Now this is if you have a method with an edge which only comes from time and developing. Gotta just push through it and just keep working. If every time you start to doubt your method you jump ship that is no different then jumping from system to system. Spend time with your method and examine it and work with it over time. It will change slowly into something that you are comfortable with. Mine did.

Best
Mike
  • #89,236
  • Feb 16, 2011 10:52am Feb 16, 2011 10:52am
good?
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meine augen sind die sterne
  • #89,237
  • Feb 16, 2011 10:56am Feb 16, 2011 10:56am
Quoting ghous
True. Interesting that we now have a BUOB off the 9650 on the daily. (Again if we close as one).

g.
seems like we have 'eventually' held at the 9650. lol

A crazy day.

g.
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I believe . . .
  • #89,238
  • Feb 16, 2011 10:57am Feb 16, 2011 10:57am
hey people,usd/jpy 4 hr chart looks pretty good bar close in few minutes would like some comments ...go pinbar goo!!
  • #89,239
  • Feb 16, 2011 11:00am Feb 16, 2011 11:00am
Is somebody here still using Dow Jones and S&P500 as correlation for jpy and usd pairs.My opinion is that there is not as much correlation as it was in 2007,2008 when Raczecfx and Seeking Light were participating in this thread.I have read that part of the thread and it seems to me that trading back then was much easier.Maybe the market has changed and we have to take another approach.Is there somebody who traded in that period of time and feels this way?
  • #89,240
  • Feb 16, 2011 11:01am Feb 16, 2011 11:01am
Quoting mbqb11
There is nothing to apologize for bud

I just want you to understand that whatever method you choose to refine and make work for you will have its ups and downs....
Thanks Mike! Yes, I will do exactly this! Will stick with the one I have so far, and will make a deep review of it sometime in summer... so will have a few months of test drive! Thanks
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