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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

  • #92,761
  • Apr 1, 2011 5:54am Apr 1, 2011 5:54am
Quoting six gun
I will stick to the way it is described by James himself. I have the benefit of a lot of the material on the private forum.

I look at the price pivot zones - the areas where price turns and reacts. The bars formed at these points indicate what may happen next and you can also look ahead to the next ppz or bar highs/lows to tell you where the next area of difficulty is.

These ppz's are kind of your areas of imbalance but as I say I will stick to my "balance" approach.
We're both skinning the same cat, my friend, and doing it very well
  • #92,762
  • Apr 1, 2011 6:11am Apr 1, 2011 6:11am
Quoting Ifmyante
Thanks Bill for the kind words.

I don't believe you've missed anything.

I absolutely have not said anything new here. It's all been taught to us by our great seniors for years.


Not having read the whole thread though (I got to page 52 and skipped to only a few pages back), I never really understood the WHY of it all, which, I'm sure, will have been explained many times through the thread.

I did what I was advised and became quite successful with the J16 method.
I'd draw my PPZs and watch price jump around between them, amazed at how well...
So good to hear your "Eureka moment" has struck you, congrats. to yourself! Simply awesome!
  • #92,763
  • Apr 1, 2011 6:19am Apr 1, 2011 6:19am
Now don't anybody get me wrong.
I will never have my own charts cluttered with all those boxes. They're just there to explain what I've been talking about.

I intend in future to never have more than 2 horizontal lines on my chart (on either side of an imbalance, just for accuracy, and only when I see a trade opportunity arising). No boxes anywhere. Just a couple of pertinent TLs where They're obvious.

I want to trade almost completely naked.

I mean, look at the weekly chart below. Can't you see all the boxes there without my having drawn them? Isn't the chart stuffed with all the information you need?

Love to all

If
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  • #92,764
  • Apr 1, 2011 6:26am Apr 1, 2011 6:26am
Quoting Panthera
A triangle for anybody?
A break under 1,000 , with a BEOB would be nice.
Mónika
it broke nicely.
  • #92,765
  • Apr 1, 2011 6:28am Apr 1, 2011 6:28am
Time to play soon....maybe
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  • #92,766
  • Apr 1, 2011 6:31am Apr 1, 2011 6:31am
Quoting Ifmyante
Now don't anybody get me wrong.
I will never have my own charts cluttered with all those boxes. They're just there to explain what I've been talking about.

I intend in future to never have more than 2 horizontal lines on my chart (on either side of an imbalance, just for accuracy, and only when I see a trade opportunity arising). No boxes anywhere. Just a couple of pertinent TLs where They're obvious.

I want to trade almost completely naked.

I mean, look at the weekly chart below. Can't you see all the boxes there without my having drawn them?...
Hi Ify

First of all let me congratulate you on making sense of it all! You obviosly have had a 'moment' when a light has come on.
Can you recommend an article to read on 'imbalances'? and, when looking at a chart and spotting an 'imbalance' howwhen do you trigger a trade? dO you use PA such as a Pin etc? If you could post a chart with imbalances and wherewhy you woukd have triggered a trade that would be appreciated.

Thanks

Kal
  • #92,767
  • Apr 1, 2011 7:09am Apr 1, 2011 7:09am
I think we may see a pullback, then turn bullish again,

here is my chart.

Cheers,
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How bad do you want it? That's the attitude!
  • #92,768
  • Apr 1, 2011 7:18am Apr 1, 2011 7:18am
I have been following the thread for several days now and have been reading the past posts as many as i can. but it seems am not moving forward as am finding it difficult to merge all the information each chart contain together.

can i get an ebook that contains most of the important things i need to know on price action and the J16 principle of trading?

I dont want rsuh at all. I really want to learn. thanks
  • #92,769
  • Apr 1, 2011 7:28am Apr 1, 2011 7:28am
Quoting brighty3k
I have been following the thread for several days now and have been reading the past posts as many as i can. but it seems am not moving forward as am finding it difficult to merge all the information each chart contain together.

can i get an ebook that contains most of the important things i need to know on price action and the J16 principle of trading?

I dont want rsuh at all. I really want to learn. thanks
A lot of this is based on Martin Pring's work.
You could try that first.
  • #92,770
  • Apr 1, 2011 7:33am Apr 1, 2011 7:33am
Quoting spookie94
Well according to what happened overnight I'd say you played this loss as well as anyone could. I made the mistake of thinking that BRN would hold. From my experience, when you see price hovering around a PPZ, your odds greatly increase that that area is about to break (or mybe a nice fake out).
I reduced my risk a little, but should have used that BRN more to my advantage.
Hi Spookie,

Yes, I was a bit surprised that the 0.95 BRN didn't provide much resistance as I expected it would...so, after price going through 0.95, there wasn't much that can stop price rising...my lesson learnt not to overlook the size of the bar....
Dreams are hard to follow, but don't let anyone, tear them away...
  • #92,771
  • Apr 1, 2011 7:38am Apr 1, 2011 7:38am
Quoting brighty3k
I have been following the thread for several days now and have been reading the past posts as many as i can. but it seems am not moving forward as am finding it difficult to merge all the information each chart contain together.

can i get an ebook that contains most of the important things i need to know on price action and the J16 principle of trading?

I dont want rsuh at all. I really want to learn. thanks
Hi brighty. Have you gone and reviewed the guest material at the J16G sight. James has a one hour plus video, I think it is titled "What We Do". There is a wealth of information there. Watch that video and then go through historical charts and see if some of the material - particular PPZs - is more clear....IMO, the PPZ concept is absolutely the most critical. There are also some great videos from Mike in that section as well. I think Mike's video on space is in the guest section....that is another video that was a Eureka moment for me.

I personally think watching the basic videos for several hours over a weekend pushed me ahead months in my development and think that is an excellent place to begin the journey. After watching the videos I printed out a ton of charts on different time frames and pairs manually marked up PPZ's and different bar formations. After doing that I began marking charts on the screen and posting them here or in the PF for feedback. Mike, Jarroo, and others are ALWAYS eager to help and are excellent coaches/mentors.

Sorry for a bit of a rant...but don't know of an e-book...just think the guest section of the PF is much better than an e-book ever could be and wanted to share what has helped me to date.
  • #92,772
  • Apr 1, 2011 7:41am Apr 1, 2011 7:41am
Quoting Donkey
Hi brighty. Have you gone and reviewed the guest material at the J16G sight. James has a one hour plus video, I think it is titled "What We Do". There is a wealth of information there. Watch that video and then go through historical charts and see if some of the material - particular PPZs - is more clear....IMO, the PPZ concept is absolutely the most critical. There are also some great videos from Mike in that section as well. I think Mike's video on space is in the guest section....that is another video that was a Eureka moment for me.

I personally...
Hey Donkey, you are certainly NO donkey!! Sound advice there my friend and most would do well to follow it!!

Kal
  • #92,773
  • Apr 1, 2011 8:02am Apr 1, 2011 8:02am
Quoting brighty3k
I have been following the thread for several days now and have been reading the past posts as many as i can. but it seems am not moving forward as am finding it difficult to merge all the information each chart contain together.
...
Sir Donkey is right.
i often say excellent PPZ determination/plotting is a major part of the battle.

1. check this out
2. watch the guest videos (many topics: PPZ, etc)
3. (optional/trader-specific...) view post#1 links
4. practice

this is the 'quickest' way for u to learn.
hope this helps
  • #92,774
  • Edited 8:56am Apr 1, 2011 8:26am | Edited 8:56am
Thanks so much Kal.

I've pm'ed out links alot lately!

I really don't think anybody really needs them.
Just do this exercise and post your results. If you don't absolutely and completely understand everything there is to know about trading by the time you've posted your results, let me know, and we can go over it further.

Pick a chart, any chart. Open the weekly
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  • #92,775
  • Apr 1, 2011 8:36am Apr 1, 2011 8:36am
Quoting supremeChaos
Sir Donkey is right.
i often say excellent PPZ determination/plotting is a major part of the battle.

1. check this out
2. watch the guest videos (many topics: PPZ, etc)
3. (optional/trader-specific...) view post#1 links
4. practice

this is the 'quickest' way for u to learn.
hope this helps
Hey Supremo

Sound advice as always. Have not seen you for a while - how are you and how is your trading going? All well I hope.

Kal
  • #92,776
  • Apr 1, 2011 8:43am Apr 1, 2011 8:43am
My big eurusd

tyj
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The only constant is change
  • #92,777
  • Apr 1, 2011 8:46am Apr 1, 2011 8:46am
Great Post! I assure you Sam Seiden himself would learn a thing or two about explaining it in such a simple and effective way.
I am a lifetime member of the XLT room with OTA and after hundreds of live sessions with Seiden I feel quite fluent with this concept. Shamefully though I still struggle with plotting PPZ's though I have been following this thread daily since September 2010. If you can share your aha moment or methodology I would be most appreciative.
Thanks again,


Quoting Ifmyante
Thanks so much Kal.

I've pm'ed out links alot lately!

I really don't think anybody really needs them.
Just do this exercise and post your results. If you don't absolutely and completely understand everything there is to know about trading by the time you've posted your results, let me know, and we can go over it further.

Pick a chart, any chart. Open the weekly
"As Kids we believe Anything is Possible; the Trick is to never forget it!"
  • #92,778
  • Apr 1, 2011 8:58am Apr 1, 2011 8:58am
seeing

tyj
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The only constant is change
  • #92,779
  • Apr 1, 2011 9:11am Apr 1, 2011 9:11am
Quoting teemo
Great Post! I assure you Sam Seiden himself would learn a thing or two about explaining it in such a simple and effective way.
I am a lifetime member of the XLT room with OTA and after hundreds of live sessions with Seiden I feel quite fluent with this concept. Shamefully though I still struggle with plotting PPZ's though I have been following this thread daily since September 2010. If you can share your aha moment or methodology I would be most appreciative.
Thanks again,
Thanks Teemo,
I've just edited the complete trading methodology into the bottom of my last H4 chart.

As you know, it can be used in every TF.

But finding an area between imbalances on the W1 chart, you will get a very clear sense of where the last major disagreement over price lay.

Entering on the H4 chart, taking profit at each previous H4 imbalance, they're sooooo easy to see - just look left (even reversing position through the RTs- I won't do this) and re-entering on H4 PA from RTs(You know where they are), you can rip up the market until you reach your next Weekly imbalance.

It's always low risk. It's always got great potential.


If
  • #92,780
  • Apr 1, 2011 9:12am Apr 1, 2011 9:12am
I'm getting the idea that with all the eyes in this thread not many good trades will go unnoticed. LOL!

I have manually back tested daily bars on about 10 pairs so far and have observed a couple of things that might help people new to this like I am initially manage trades:

1) 90% of the time on the standard PA's (PB's, BEU/OB's, DBLH/LC's) the Break Out bar is the very next bar after the PA set-up.

2) If a good PA set-up has been chosen price almost never retraces the full PA and stops you out on the same bar as the BO bar.

3) 90% of the time, if price is going to move any decent distance, it does not retrace back beyond the other side of a closed BO bar.

How does this apply? Once an entry is triggered I place the initial stop on the other side of the PA as taught and wait a full day for the BO bar to close. No micromanaging of the trade at this point. When the BO bar closes I then move the initial stop to just behind the BO bar. If price retraces past the BO bar and stops me out there is a 90% chance that the movement is over anyway and will retrace the full length of the original PA set-up. This helps to reduce initial risk fairly quickly, let the trade play out as planned, and eliminate "hoping" when it does not behave as planned.

Does this square with what others have observed? Apologies if it is obvious!
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