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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

  • #90,621
  • Mar 3, 2011 8:17am Mar 3, 2011 8:17am
Quoting Ifmyante
Should just wait for PA
LOL, I knew you would say that. suspect we will see some moves tomorrow.
  • #90,622
  • Mar 3, 2011 8:19am Mar 3, 2011 8:19am
Quoting 4FXsake

The other side of the trade was a profit of 32 pips because my stop was below RN however, the downside is potentially unlimited. Not attractive to the counter party.

Anyway stop now at BE so free trade.


Think it's going to pause here though.
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  • #90,623
  • Mar 3, 2011 8:21am Mar 3, 2011 8:21am
Quoting 4FXsake


Think it's going to pause here though.
sucks its going straight into .93
  • #90,624
  • Mar 3, 2011 8:30am Mar 3, 2011 8:30am
I tooked hal out and moved SL to BE. The reason why i moved the SL to BE is because i have not much experience with continual BU/EOB.

So what you guys think about my thinking?
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  • #90,625
  • Mar 3, 2011 8:39am Mar 3, 2011 8:39am
Quoting john225
I tooked hal out and moved SL to BE. The reason why i moved the SL to BE is because i have not much experience with continual BU/EOB.

So what you guys think about my thinking?
I think your thinking is great John. We are trading back into 1.4 with non farm payrolls looming so price might get capped by this major level until tomorrows action.

Nicely done bud

Mike
  • #90,626
  • Mar 3, 2011 8:41am Mar 3, 2011 8:41am
Quoting mbqb11
I think your thinking is great John. We are trading back into 1.4 with non farm payrolls looming so price might get capped by this major level until tomorrows action.

Nicely done bud

Mike
Thanks mike
I totally forgot the NFP xD. If price would go higher i would close full position on 1.4
  • #90,627
  • Mar 3, 2011 9:00am Mar 3, 2011 9:00am
Quoting Patrick.
LOL, I knew you would say that. suspect we will see some moves tomorrow.
I'd be short though if those m15 PBs closed under the RN
  • #90,628
  • Mar 3, 2011 9:09am Mar 3, 2011 9:09am
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"Don't trade to trade . . . trade to win." - James16
  • #90,629
  • Mar 3, 2011 9:40am Mar 3, 2011 9:40am
Quoting Ifmyante
I'd be short though if those m15 PBs closed under the RN
Cool, i stay on daily for now... I would say long on break of .9343 and short on break of .9190, I see a box there need too break out of that box...then again I'm new here
  • #90,630
  • Mar 3, 2011 9:43am Mar 3, 2011 9:43am
Quoting Ifmyante
Interesting
Hello Ifmyante may i ask you where can i get that indicator wich shows other TFs in the same window ?
I see it wery useful if you forget to chek weekly or 4H tf while you look at daily ... happens to me alot

Ty ...
  • #90,631
  • Mar 3, 2011 9:57am Mar 3, 2011 9:57am
Quoting FxPrelude
Hello Ifmyante may i ask you where can i get that indicator wich shows other TFs in the same window ?
I see it wery useful if you forget to chek weekly or 4H tf while you look at daily ... happens to me alot

Ty ...
No worries FX

Use it sparingly - it uses alot of juice
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File Type: ex4 Stratman_MiniChart_v12.ex4   37 KB | 489 downloads
  • #90,632
  • Mar 3, 2011 9:59am Mar 3, 2011 9:59am
Quoting forex0908
Dan

Are you watching / interested in EURGBP I4B on the Daily at 0.85 BRN?

It's not AT the BRN - but BELOW it. Any thoughts?

0908

Attachment
well that worked out quite nicely lol
Many choose unhappiness over uncertainty.
  • #90,633
  • Mar 3, 2011 10:22am Mar 3, 2011 10:22am
Quoting Ifmyante
No worries FX

Use it sparingly - it uses alot of juice
Thank you ...will do
  • #90,634
  • Mar 3, 2011 10:37am Mar 3, 2011 10:37am
Quoting decentchap
Set to B/E enjoying the free ride now
Stopped out at b/e
Trading is a test match not a Twenty20.
  • #90,635
  • Edited 1:33pm Mar 3, 2011 11:42am | Edited 1:33pm
i've never ever traded this pair, but it shows a nice touch-trade.
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meine augen sind die sterne
  • #90,636
  • Edited 1:15pm Mar 3, 2011 12:19pm | Edited 1:15pm
Quoting Kalbar
Jarroo

enjoyed your rants earlier on about demo trading.....demo trading........demo trading until trust and confidence develop. The way to go in early days. That said, some people need a 'stake' on their trades to feel the emotion and I think thats fine too as long as the amount does not threaten your ability to live/pay the bills, eg micro trading.

just my 2 cents

Kal

I understand this, Kal. But I think you missed my point. . .

What would it be like if there was no emotional "stake" when you traded? That you felt the same when you lost a trade as when you won a trade. .. totally indifference as a mindset.

This may not be possible, especially with a large account . .but why not?

All I'm saying, that when you practise and get good at picking great setups you have a great "feeling" whether they work out or when they don't work out, because you picked the best setup.


Your playing Texas Hold'em and your dealt a pair of Bullets and there is an Ace on the flop. The guy across from you goes "All In". You're gong to call that guy no matter what the out come is . .its an A++ PA setup.

Now if the guy across from you is Mike . . .then I would worry . . lol
Indicators show the past. Price Action "Indicates" the future.
  • #90,637
  • Mar 3, 2011 12:32pm Mar 3, 2011 12:32pm
EURJPY
the area has been tested a few times and the current up momentum is very strong. Any bias?
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  • #90,638
  • Mar 3, 2011 1:24pm Mar 3, 2011 1:24pm
Quoting Atc
Great Post Coach ....this should be archived

Great charts posted, Atc. Keep them coming .. .
Indicators show the past. Price Action "Indicates" the future.
  • #90,639
  • Mar 3, 2011 1:27pm Mar 3, 2011 1:27pm
Quoting sr2

I am seriously considering eliminating all PA setups except for OBs. I love them. They work so often that its actually scary

SR2
You've been reading my mind . . . . .

Outside Bars Rule!!
Indicators show the past. Price Action "Indicates" the future.
  • #90,640
  • Mar 3, 2011 1:30pm Mar 3, 2011 1:30pm
Quoting Bethel
Yes sir, i have read n i will re-read again, thank you very much for your advice, i am demo-trading,one confusion i have is the risk reward part, risking 200 dollars for exiting half my position at 30-50 pips n set SL to breakeven, so if i win a few times because pin bar is a high prob trade and lose once, won't that cost a lot?

sincerely,
Bethel

I couldn't have said it better than DB . . .

Quoting DBallerz
It is not about risk:reward with J16. If you pick them right, you will win 95% of the set ups. Once you reach your first FTA, take half position and move to BE. You make money from the runners. Our goal is to REDUCE risk and maximize profits.
Indicators show the past. Price Action "Indicates" the future.
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