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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

  • #91,801
  • Mar 17, 2011 12:07am Mar 17, 2011 12:07am
Quoting mbqb11
Hey Lee

I sold the BEOB on the pullback to the wedge formation

I trailed my stop out to the last low(wish I held through this mess but that's ok )

Best
Mike
Got it. Thanks

This is what I had for last couple of days. Any comment is appreciated.

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  • #91,802
  • Mar 17, 2011 2:34am Mar 17, 2011 2:34am
Quoting jeurre
yeah, that's why i have to go back to the basics, just don't now how to do it properly without sacrifying my edge.
You seemed to be doing very well up to that point, looking at the steady climb in your graph I would say your "edge" is workable, but that MM has let you down. I've blown a couple of small accounts, after doubling them, through a combination of overtrading, impatience, bad techniques, and poor MM (among other things). So I'm back to demo, but have a long way to go.

I'm up about 10% after only a few trades (win/loss ratio is not high but am trying/testing the J16 techniques), however drawdown was at 11% and that's too high, and was solely due to poor MM in a moment of weakness. As you can see in my graph, I bounced back from it, but this drawdown was only three trades - this moment of weakness revived the Jekyll/Hyde trader in me that I have to control.

X.
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Return on Equity: 2017, 32.4%; 2018; 8.0%, 2019 (30Apr), 4.5%
  • #91,803
  • Mar 17, 2011 2:57am Mar 17, 2011 2:57am
Quoting jeurre
yeah, that's why i have to go back to the basics, just don't now how to do it properly without sacrifying my edge.
if you dont mind me asking...
what changed between your early trades and your last few trades?
did you change your method? lose discipline?
  • #91,804
  • Mar 17, 2011 3:24am Mar 17, 2011 3:24am
Quoting jeurre
what happened to my account? didn't expect to break an account so quick, I guess it's time to get back to the basics now. but, there are so many things that I really could not understand well regarding technical aspect of trading. hopefully could learn futher from you guys......
Hi Jeurre,

Thanks for posting results! This is a rare thing to see
If you don't mind me asking... in what period you made that # of trades?
I don't think it was a year or two?
What TF is your main TF?
Thanks!
  • #91,805
  • Mar 17, 2011 4:40am Mar 17, 2011 4:40am
the trades were done in about 6 month duration,I think my trading sychology accounted for major part of this big loss, whearas I thought my MM had no big problem.

I think the managing trade tight is an excellent strategy to survive in this battlefield, just still don't have an idea on how to do it in a way that my patience can sustain.

One thing I feel very odd: in a hindsight price action does have its edge, however, in my practise, it seemed to me they rare works for me. for instance, the pinbar in aqua circle looks perfect in terms of size and location(double bottom),but, it failed; while the pinbar in pink square, it's small and in conjection area, the result is it is so powerful. of course, this happens without doult, the thing I feel odd is that I usually fail whenever trading PA whilst PA seems always workable whenever I ignor them. why is that so? this is really odd, I don't know what has been missing in my piece of trading experience.
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  • #91,806
  • Mar 17, 2011 4:46am Mar 17, 2011 4:46am
Quoting mbqb11
hold on to your hats

Hope you are all being safe in these volatile markets
I stayed way out. For anyone who is interested:

http://www.guardian.co.uk/business/2...s-nikkei-falls
  • #91,807
  • Edited 4:52am Mar 17, 2011 4:49am | Edited 4:52am
now I have to go back to the 3 month demo period before I can trade a real account. this is really disappointing situation for me. what a hell !
  • #91,808
  • Mar 17, 2011 4:50am Mar 17, 2011 4:50am
Quoting jeurre
the trades were done in about 6 month duration,I think my trading sychology accounted for major part of this big loss, whearas I thought my MM had no big problem.

I think the managing trade tight is an excellent strategy to survive in this battlefield, just still don't have an idea on how to do it in a way that my patience can sustain.

One thing I feel very odd: in a hindsight price action does have its edge, however, in my practise, it seemed to me they rare works for me. for instance, the pinbar in aqua circle looks perfect in terms of size...

Still interesting how your equity curve rose so steadily. I can only guess that you were taking profits really fast (like just a few pips or a bit before FTA) and at the end you just had a few full bar losses?

That is how I usually blow my accounts, lol, taking a lot of very small profits and then just a few stops kill all those trades!

Good thing is that you did it in 6 months only, some people will have 6 years to make that number of trades and it is horrible to have such an equity curve after 6 years trading... imo

  • #91,809
  • Mar 17, 2011 4:55am Mar 17, 2011 4:55am
aha, you are good comrade, this thing has to change, you agree or not

Quoting Adilius07
Still interesting how your equity curve rose so steadily. I can only guess that you were taking profits really fast (like just a few pips or a bit before FTA) and at the end you just had a few full bar losses?

That is how I usually blow my accounts, lol, taking a lot of very small profits and then just a few stops kill all those trades!

Good thing is that you did it in 6 months only, some people will have 6 years to make that number of trades and it is horrible to have such an equity curve after 6 years trading... imo

  • #91,810
  • Mar 17, 2011 5:42am Mar 17, 2011 5:42am
Can anyone explain to me why when there is so many problems in Japan at the moment that the USD fell so dramatically against the JPY
  • #91,811
  • Mar 17, 2011 5:47am Mar 17, 2011 5:47am
Quoting geniusztc
Very sorry gen if my response had you pull the plug on that potential winner.
I've been so tied up with monthly closes I didn't take the time to look at the daily.
But this did get me thinking about buffers, what a good one is for an H4 PB.
I see you had a 5 pip buffer which instantly turned around on you.
To find when this 5 pip drop happened I went down to m15, where I found a lovely reversal pattern in the next swing after your PB.
What with the fractal nature of the market, and the fact that there's just been an H4 PB from a D1 LCS which we should have seen, surely a very low risk entry would have been from the break of that last little M15 PB on the next swing?

Just putting it out there

Michael

PS

Quoting Adilius07
What TF is your main TF?
Adi, watch your language. This is a nice clean thread!
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  • #91,812
  • Mar 17, 2011 5:49am Mar 17, 2011 5:49am
Quoting Ifmyante

Adi, watch your language. This is a nice clean thread!
  • #91,813
  • Mar 17, 2011 5:54am Mar 17, 2011 5:54am
Quoting grahamec
Can anyone explain to me why when there is so many problems in Japan at the moment that the USD fell so dramatically against the JPY
yes. japanese people are withdrawing their money invested in foreign currencies and change them to their jpy.
their money is needed in the country now.
as speculators are aware of this, the vicious circle increases.
meine augen sind die sterne
  • #91,814
  • Mar 17, 2011 5:56am Mar 17, 2011 5:56am
Quoting 5.25
I stayed way out. For anyone who is interested:

http://www.guardian.co.uk/business/2...s-nikkei-falls
Good read but it would be nice to add that yesterday selloff was also a result of stop cascade below the 80 barrier in illiquid market. It will be interesting when/if BOJ will come to play. Strong yen favours import and it will help to recover from the disaster but sooner or later BOJ will have to step in.
  • #91,815
  • Mar 17, 2011 5:59am Mar 17, 2011 5:59am
Quoting aserbfx
yes. japanese people are withdrawing their money invested in foreign currencies and change them to their jpy.
their money is needed in the country now.
as speculators are aware of this, the vicious circle increases.
Thanks aserbfx
Is this something that investors do themselves or are they encouraged to do so by the goverment
  • #91,816
  • Mar 17, 2011 6:03am Mar 17, 2011 6:03am
Quoting Greenhaze
Good read but it would be nice to add that yesterday selloff was also a result of stop cascade below the 80 barrier in illiquid market. It will be interesting when/if BOJ will come to play. Strong yen favours import and it will help to recover from the disaster but sooner or later BOJ will have to step in.
Quite right Greenhaze... or is it Aphex Twin!?
  • #91,817
  • Mar 17, 2011 6:12am Mar 17, 2011 6:12am
Quoting Ifmyante
Very sorry gen if my response had you pull the plug on that potential winner.
I've been so tied up with monthly closes I didn't take the time to look at the daily.
But this did get me thinking about buffers, what a good one is for an H4 PB.
I see you had a 5 pip buffer which instantly turned around on you.
To find when this 5 pip drop happened I went down to m15, where I found a lovely reversal pattern in the next swing after your PB.
What with the fractal nature of the market, and the fact that there's just been an H4 PB from a D1 LCS which we...
come on ,my friend. it is my own bussiness. so ,no sorry. and i do not think your advice is wrong ,too .but ,you know ,this is forex market . and my account is ok up to now. need your more advice in the future . good luck .

cai
A chart helps those who can read it.
  • #91,818
  • Mar 17, 2011 6:13am Mar 17, 2011 6:13am
I've got gaps in AUD/CAD

Usually the refresh button will take care of this, but not this time.

Is it just me? I'm on FXPro
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  • #91,819
  • Mar 17, 2011 6:18am Mar 17, 2011 6:18am
Quoting Ifmyante
I've got gaps in AUD/CAD

Usually the refresh button will take care of this, but not this time.

Is it just me? I'm on FXPro
Mine seems to be ok
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  • #91,820
  • Mar 17, 2011 6:20am Mar 17, 2011 6:20am
Quoting grahamec
Thanks aserbfx
Is this something that investors do themselves or are they encouraged to do so by the goverment
sorry, i have no idea.
meine augen sind die sterne
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