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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

  • #91,921
  • Mar 18, 2011 12:45pm Mar 18, 2011 12:45pm
Quoting Adilius07
Hi Aser, can you please share a little your trade management approach?
I was thinking what if I took this setup, I see only two options: either break even or reduced stop on this trade.

You do not move to BE or reduce stop? But take half off at FTA and let the rest run?
well, yes, to be honest my trade management is still to discretionary.
here is what i do normally:
i am looking for entry, sl and tp.
then i am calculating the amount to invest. i never risk more than 1% of my account. if the trade is developing well, i take only 1/2 or 1/3 at tp and let the rest run.
concerning isca: i see that it is already about +4% today. now there are about 2 more hours to trade at nyse. i don't expect any more big action on a friday. therefore i take half of my position off and put the stopp to break even.
hth
meine augen sind die sterne
  • #91,922
  • Mar 18, 2011 12:49pm Mar 18, 2011 12:49pm
Quoting aserbfx
well, yes, to be honest my trade management is still to discretionary.
here is what i do normally:
i am looking for entry, sl and tp.
then i am calculating the amount to invest. i never risk more than 1% of my account. if the trade is developing well, i take only 1/2 or 1/3 at tp and let the rest run.
concerning isca: i see that it is already about +4% today. now there are about 2 more hours to trade at nyse. i don't expect any more big action on a friday. therefore i take half of my position off and put the stopp to break even.
hth

Thank you very much Aser, for reply. And for the other part will you trail it or also have another TP? For me the next logical area looks to be 29.75-30 for this last chart you show.
  • #91,923
  • Mar 18, 2011 1:14pm Mar 18, 2011 1:14pm
Quoting Adilius07
Thank you very much Aser, for reply. And for the other part will you trail it or also have another TP? For me the next logical area looks to be 29.75-30 for this last chart you show.
my stop is now at 28.45 usd. 28.50 seems like a good support area. and yes it gets rough before the 30 usd. i will watch price action before this level. if it approaches the 30 with power aka good volume, i will stay in for a break out.
meine augen sind die sterne
  • #91,924
  • Mar 18, 2011 1:15pm Mar 18, 2011 1:15pm
Quoting aserbfx
my stop is now at 28.45 usd. 28.50 seems like a good support area. and yes it gets rough before the 30 usd. i will watch price action before this level. if it approaches the 30 with power aka good volume, i will stay in for a break out.
Cool. Thanks!!
I hope this trade will go to the moon next week!
  • #91,925
  • Mar 18, 2011 1:28pm Mar 18, 2011 1:28pm
Quoting aserbfx
my stop is now at 28.45 usd. 28.50 seems like a good support area. and yes it gets rough before the 30 usd. i will watch price action before this level. if it approaches the 30 with power aka good volume, i will stay in for a break out.
here is the according chart.
nice to see how support is turning into resistance. (and back into support?)
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meine augen sind die sterne
  • #91,926
  • Mar 18, 2011 3:51pm Mar 18, 2011 3:51pm
Thanks Ghous!
It is clear.....as I see I have to be more careful with the IPB, I think for a start I try the PBs and Engulfings....they seem to be easier for me.
Thanks again.
Mónika
  • #91,927
  • Mar 18, 2011 6:50pm Mar 18, 2011 6:50pm
Quoting Shanetrader
Hey Taub,

How do you get all your stats like your post below?
Do you have an excel spreadsheet to track your results or is it generated in some other way?
Im trying to find a way to track all my stats etc. like an excel spreadsheet or something

Thanks
Shane
Hi Shane

FF has Trade Explorer to keep track of all this. It's on this link
http://www.forexfactory.com/userguid...lorer_overview

You can also try
http://www.myfxbook.com

Best

Michael
  • #91,928
  • Mar 18, 2011 9:17pm Mar 18, 2011 9:17pm
Quoting Panthera
Thanks Ghous!
It is clear.....as I see I have to be more careful with the IPB, I think for a start I try the PBs and Engulfings....they seem to be easier for me.
Thanks again.
Mónika
Way to go!

g.
I believe . . .
  • #91,929
  • Mar 19, 2011 12:06am Mar 19, 2011 12:06am
Quoting geniusztc
LOL you can NOT thank james16. he did not teach the method you used .you have profit ,so am i .BUT , in my eyes ,we are really really really NEWBIES. just see your fund curve, I think professional traders should have a smooth and tip-tilted curve.
go ahead ,together.
more smooth and tip-tilted curve .i am progressing .
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A chart helps those who can read it.
  • #91,930
  • Mar 19, 2011 12:21am Mar 19, 2011 12:21am
how much power does BOJ have ? so-so , technical analysis is the king。
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A chart helps those who can read it.
  • #91,931
  • Mar 19, 2011 5:34am Mar 19, 2011 5:34am
Quoting kayhan7070
touch trade, sold@ 81.70
stop @ BE,targeting 80.00
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  • #91,932
  • Mar 19, 2011 6:04am Mar 19, 2011 6:04am
Quoting Shanetrader
Hey Taub,

How do you get all your stats like your post below?
Do you have an excel spreadsheet to track your results or is it generated in some other way?
Im trying to find a way to track all my stats etc. like an excel spreadsheet or something

Thanks
Shane
You can generate those stats with MetaTrader. Go to your trade history, right click and select "Create Detailed Statement" or something.
  • #91,933
  • Mar 19, 2011 6:51am Mar 19, 2011 6:51am
Quoting kayhan7070
stop @ BE,targeting 80.00
Nice free trade.

Did you short at 79.75 after price had collapsed to 76.4 and retraced almost immediately to former historic low ? This kind of short term trade should be in every forex book. Forget the red lines they're old daily lows I used as sellstops, I should have erased them.
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  • #91,934
  • Mar 19, 2011 7:27am Mar 19, 2011 7:27am
Been wanting to add to the trading arsenal and will start trading the following IB setup on demo.

Comments welcome.

http://3.bp.blogspot.com/-tJo1OpSc3p...xample%2B1.png
  • #91,935
  • Mar 19, 2011 8:45am Mar 19, 2011 8:45am
I don't see many charts for Cable, i know she can be a beast! did anyone like this?
1.6 Is holding well as support, we took a while to breakout and have now tested several times.
Big powerful looking DBLHC off 1.6 on Thursday.
I am aware 1.62 is going to be obvious resistance with 1.6170 FTA?
I would manage this tightly and look to enter on the pullback. Did anyone trade this?
I would come down to 4h for entry.
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  • #91,936
  • Mar 19, 2011 9:01am Mar 19, 2011 9:01am
Quoting crusen
Been wanting to add to the trading arsenal and will start trading the following IB setup on demo.

Comments welcome.

http://3.bp.blogspot.com/-tJo1OpSc3p...xample%2B1.png
Beautiful C
  • #91,937
  • Mar 19, 2011 9:04am Mar 19, 2011 9:04am
Quoting ts63
Nice free trade.

Did you short at 79.75 after price had collapsed to 76.4 and retraced almost immediately to former historic low ? This kind of short term trade should be in every forex book. Forget the red lines they're old daily lows I used as sellstops, I should have erased them.
yep..
  • #91,938
  • Mar 19, 2011 9:38am Mar 19, 2011 9:38am
Quoting Chelski
Big powerful looking DBLHC off 1.6 on Thursday.
nice! ..but bearish outside bar on W1...possible end of movement

http://savepic.net/715771.gif

http://savepic.net/698363.gif
  • #91,939
  • Mar 19, 2011 9:45am Mar 19, 2011 9:45am
Quoting Chelski
I don't see many charts for Cable, i know she can be a beast! did anyone like this?
1.6 Is holding well as support, we took a while to breakout and have now tested several times.
Big powerful looking DBLHC off 1.6 on Thursday.
I am aware 1.62 is going to be obvious resistance with 1.6170 FTA?
I would manage this tightly and look to enter on the pullback. Did anyone trade this?
I would come down to 4h for entry.
as long as one remains aware of the very very tight consolidation you are in is the most important in my book

Best
Mike
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  • #91,940
  • Mar 19, 2011 10:47am Mar 19, 2011 10:47am
ammd on weekly.
price formed a shs-pattern before. this never got triggered.
now it made a pinbar. i would a long-entry above ~21.15 usd. with a stop below the low the ppz (< 20.00 usd). first trouble is the recent high at 22.50 usd. later the year-high at 24.00 usd comes into play.
comments appreciated....
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meine augen sind die sterne
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