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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

  • #95,381
  • May 17, 2011 10:14am May 17, 2011 10:14am
Quoting supremeChaos
Hello stark1,
what do u mean by 'limit'?
i checked my FXCM TS2, it has 56 pairs, & 17 other instruments (indices, commodities).
u can choose which ones are shown/hidden.

on the area where u see the prices (Simple Dealing Rates mode), right click, then look for 'Symbol Subscription List'. there, u can check/uncheck the pairs u want/dont want displayed.
u can read the manual, troubleshooting page, or go on a Live Chat.
Just re-read your post. I see what you're doing. Not sure that'll work for me but I'll give it a try. Thanks again.
When the going gets weird, the weird turn pro.
  • #95,382
  • May 17, 2011 10:44am May 17, 2011 10:44am
Quoting Pip-hunter
http://www.forexfactory.com/attachme...2&d=1305643262
Hope it looks fine
This is my new account here in the FF, hopefully they will remove the junior restriction ASAP
Welcome Pip-hunter,
nope, i see no chart. (does anyone see his chart?)
maybe u should try again.

make more posts so u get past that restriction

Quoting stark1
...The bottom of my Symbol Subscription List says 'please note there is a maximum of 20 symbols visible at any one time'. I can't keep dialling them in and out (small brain - I'll forget what i'm supposed to be watching!), so is that what you're doing or does yours allow all those charts open at once? I feel a Live Chat coming on...
nope, i dont have that 20-instrument restriction. but i remember i did before. (i cant remember how i got past that restriction)
yes, Live chat would definitely help.
  • #95,383
  • May 17, 2011 11:00am May 17, 2011 11:00am
Quoting supremeChaos
Welcome Pip-hunter,
nope, i see no chart. (does anyone see his chart?)
maybe u should try again.
Nope, no chart here aswell. I only see some kind of red X pattern
  • #95,384
  • May 17, 2011 11:15am May 17, 2011 11:15am
What about now?
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Price = the amount a greater fool is willing to pay!
  • #95,385
  • May 17, 2011 12:25pm May 17, 2011 12:25pm
eur/chf is in a crucial situation right now. wait for a strong price action signal in this area.

just an assumption: i think it will float around the 1.25 till tomorrow morning and then tank down. it is still in a strong downtrend.
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meine augen sind die sterne
  • #95,386
  • May 17, 2011 2:28pm May 17, 2011 2:28pm
Quoting Pip-hunter
What about now?
yep we can see it now
  • #95,387
  • May 17, 2011 3:28pm May 17, 2011 3:28pm
How many of you are trading on a live account?
  • #95,388
  • May 17, 2011 3:33pm May 17, 2011 3:33pm
took this nice breakout today. was lucky and shorted it nearly at dayhigh at 32.85 usd. last price was 32.39 usd. so about +1.2% so far.
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meine augen sind die sterne
  • #95,389
  • May 17, 2011 3:35pm May 17, 2011 3:35pm
Quoting stark1
Just re-read your post. I see what you're doing. Not sure that'll work for me but I'll give it a try. Thanks again.

Stark,

If you're on FXCM Micro, as I am, you have to send an email requesting all the additional symbols.

http://www.forexfactory.com/showthre...91#post4430191
  • #95,390
  • May 17, 2011 3:49pm May 17, 2011 3:49pm
hey mike or anyone who knows this but do you know if the PF teaches future trading as well? I know the principles of PA is taught and that came be traded across many market but I was just wondering if anyone trades futures there (i think i recall jim used to trade futures before moving into forex?)
  • #95,391
  • May 17, 2011 3:56pm May 17, 2011 3:56pm
Quoting biDc
hey mike or anyone who knows this but do you know if the PF teaches future trading as well? I know the principles of PA is taught and that came be traded across many market but I was just wondering if anyone trades futures there (i think i recall jim used to trade futures before moving into forex?)
Hey B

Yeah we have people who trade everything really. Jims big thing is the Mini Dow, that's where his bread and butter is really

PA is good across the board thats the best part of it

Hope that helps
Mike
  • #95,392
  • May 17, 2011 4:05pm May 17, 2011 4:05pm
Quoting biDc
hey mike or anyone who knows this but do you know if the PF teaches future trading as well? I know the principles of PA is taught and that came be traded across many market but I was just wondering if anyone trades futures there (i think i recall jim used to trade futures before moving into forex?)
i am trading the ym (5 usd per point, mini dow future) quite a lot.

adilius was asking about trading futures (ym too) a few days back. i gave him the advise to stay away from them untill he is 100% sure what he is doing.

ym can give you hundreds of points in an hour ... and take it away in minutes.

just take a look of todays action on ym on 15min for example.

be carefull!
meine augen sind die sterne
  • #95,393
  • May 17, 2011 4:21pm May 17, 2011 4:21pm
Classic PA:weekly BUOB at swing low,retreacement daily with BUOB,now is free trade.Time for money management.
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Nothing personal,just business
  • #95,394
  • May 17, 2011 4:23pm May 17, 2011 4:23pm
Hello Guys!

I'm learning and practicing james16 way since couples months! I really like your community and the way you guys help each other!

Here is something that I would like to share,

I saw much more opportunity in lower time frame like 15, 30, 1 hour than daily

I know James say for newbie to trade the daily or weekly charts. But the thing I don't like about 4h and daily is that you have different set up depending of which broker you are using?

I feel like it's not very accurate!

What's you guys taught about that?

Is there any of you guys who trade 15,30 or 1 hour chart?


I know it's kind of a silly question but wanted to have a answer from excellent experience traders!


An other question I have is about something I found that maybe other traders have already think about that! If you take a major pair and every day at midnight you buy or sell and place a take profit of 5 or 10 pips. I think the reward ratio is pretty high! Of course keeping in mind support and resistance.

Hope this question will not bother you guys to much... I don't want to promote some kind of trading system!

That's it for now! Thank you very much in advance!! Really appreciate every one for their time!!

And, sorry about my writing since it's not my first language.


Merci beaucoup encore!!
  • #95,395
  • May 17, 2011 4:40pm May 17, 2011 4:40pm
A beauty of a setup forming on the 4H USD/CHF
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  • #95,396
  • May 17, 2011 4:50pm May 17, 2011 4:50pm
Quoting mbqb11
Hey B

Yeah we have people who trade everything really. Jims big thing is the Mini Dow, that's where his bread and butter is really

PA is good across the board thats the best part of it

Hope that helps
Mike
I see. I am still demo trading and I've been watching both forex and futures market to see which one I have the better "feel" for.

Quoting aserbfx
i am trading the ym (5 usd per point, mini dow future) quite a lot.

adilius was asking about trading futures (ym too) a few days back. i gave him the advise to stay away from them untill he is 100% sure what he is doing.

ym can give you hundreds of points in an hour ... and take it away in minutes.

just take a look of todays action on ym on 15min for example.

be carefull!
Yeah I have been observing lately as well. I do plan on trading it one day but as stated still demo and practice right now
  • #95,397
  • May 17, 2011 5:10pm May 17, 2011 5:10pm
Hey yellomello my answers below

Quoting yellomollo
Hello Guys!

I'm learning and practicing james16 way since couples months! I really like your community and the way you guys help each other!
welcome bud glad to have ya
Quote
Here is something that I would like to share,

I saw much more opportunity in lower time frame like 15, 30, 1 hour than daily

I know James say for newbie to trade the daily or weekly charts. But the thing I don't like about 4h and daily is that you have different set up depending of which broker you are using?

I feel like it's not very accurate!

What's you guys taught about that?

Yes since forex is not centralized there is no official start and stop time. But price is price so if we still are able to read the chart well it's not going to make the biggest of difference if your close is different the someone elses. I for example use 4 different brokers to show me different closes on the 4hr. I will trade based on any of them just trying to get a different aggregation of those bars. To me it is important to remember the bars themselves are just a small part of what we do

Quote
Is there any of you guys who trade 15,30 or 1 hour chart?

Yes plenty of us do. Daily/weekly is to build a proper foundation and get most people away from very bad habits. Some never go lower then the daily/weekly but many of us trade a variety of timeframes


Quote
I know it's kind of a silly question but wanted to have a answer from excellent experience traders!

there are no silly questions

Quote
An other question I have is about something I found that maybe other traders have already think about that! If you take a major pair and every day at midnight you buy or sell and place a take profit of 5 or 10 pips. I think the reward ratio is pretty high! Of course keeping in mind support and resistance.

Hope this question will not bother you guys to much... I don't want to promote some kind of trading system!

This is in theory simple to people but it doesn't work like this. Firstly where is the edge for the trader? Costs(spreads/commissions) play huge roles. I would just not go down this road, it's like that "if i can make 10 pips a day thing"
That's it for now! Thank you very much in advance!! Really appreciate every one for their time!!

Quote
And, sorry about my writing since it's not my first language.


Merci beaucoup encore!!

Your english is fantastic, C'est fantastic
  • #95,398
  • May 17, 2011 5:49pm May 17, 2011 5:49pm
Well, I guess I couldn't have better answer !!! Thank you Mike !!
  • #95,399
  • May 17, 2011 5:55pm May 17, 2011 5:55pm
Quoting fxterrapin
A beauty of a setup forming on the 4H USD/CHF
I'm watching this one too, great level isn't it?

To answer your previous question, I'm trading live, though only small sums...

..looks like it's breaking...
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  • #95,400
  • May 17, 2011 6:07pm May 17, 2011 6:07pm
why use the 4 hr.???
Its going to the 8750 or 87 area for sure

just a silly guess..
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