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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

  • #97,221
  • Jun 23, 2011 7:12pm Jun 23, 2011 7:12pm
Hi guys, just joined in ..nice being here !!
It's like three weeks since i've started reading about FX...for now i'm just doing basic learning. i do my reading at Investopedia..what do you tink about it ? it's a good place to start ? i've also heard about babypips and i'm searching for advices for a place to do the basic studies ! could you recomand a particular one ?
I have a lot of time and patience, and a feeling that i'm in the right place trying do learn the right thing ..that's all for now. I'm waiting for your replies ..
  • #97,222
  • Jun 23, 2011 7:18pm Jun 23, 2011 7:18pm
Quoting almann400
is there a suggested time zone and feed to use? i would like my charts to look like the majority so the PA will behave as expected. hard for me to make sense out of getting two different signals from two different feeds and still being profitable but im sure im wrong as that is just an assumption and i know im not supposed to do that ......haha

And yes i understand the importance of posting a chart as i normally skip thru peoples posts with out a chart so from now on unless i have a general question i will make sure to post a chart......which...

hey Almann

A lot of people use different feeds so there isn't a standard. I am a stickler for a 5pm est close. I believe it is the sort of unofficial official close to the NY fx session and thus I want my data to change over then. I don't want to include the less liquid asian/aussie into my candle. But again I know people who use anywhere from a 5pm est to a midnight. I would say just stick to what you feel is most comfortable. If you want your charts to match Jims you would need an 8pm est close

Best
Mike
  • #97,223
  • Jun 23, 2011 7:26pm Jun 23, 2011 7:26pm
My input on all of todays pinbars: too much chop. will not trade any of them.
Many choose unhappiness over uncertainty.
  • #97,224
  • Jun 23, 2011 8:12pm Jun 23, 2011 8:12pm
Quoting funkagenda
Hi guys, just joined in ..nice being here !!
It's like three weeks since i've started reading about FX...for now i'm just doing basic learning. i do my reading at Investopedia..what do you tink about it ? it's a good place to start ? i've also heard about babypips and i'm searching for advices for a place to do the basic studies ! could you recomand a particular one ?
I have a lot of time and patience, and a feeling that i'm in the right place trying do learn the right thing ..that's all for now. I'm waiting for your replies ..

Hey there partner. Good to have you on the thread. If I were to start all over again I would use this thread to gain 95% of the knowlege needed to trade. The only other thing that I would use is investopedia for when you get the odd term that doesn't quite make sense. That is a great website to visit to learn those sort of things. Other than that it is all here. We are all more than happy to help with any questions that you may have. Just remember that there is no bad question to ask. The worst thing that you could do is make asumptions and not ask the questions. Been playing with this system for a few years (was just lurking until recently ) so if I can ever help just hit me up with a PM.

Best of luck to you,
Ryan
  • #97,225
  • Jun 23, 2011 8:14pm Jun 23, 2011 8:14pm
Quoting funkagenda
Hi guys, just joined in ..nice being here !!
It's like three weeks since i've started reading about FX...for now i'm just doing basic learning. i do my reading at Investopedia..what do you tink about it ? it's a good place to start ? i've also heard about babypips and i'm searching for advices for a place to do the basic studies ! could you recomand a particular one ?
I have a lot of time and patience, and a feeling that i'm in the right place trying do learn the right thing ..that's all for now. I'm waiting for your replies ..

Welcome bud

Hang around, start with Post #1 and read all of James' words a few times. It will set you off on a great path.

Take care
Mike
  • #97,226
  • Jun 23, 2011 8:17pm Jun 23, 2011 8:17pm
Hopefully the chart loads and you can see what i saw from my phone at work and got excited?? Hopefully i can get a few more tips as to what i should be looking for in this case for the future?

Ok now that i look at it more, im glad i did not take it even though there could be a nice retrace there i do not think it is an A trade. I would like to thank Donkey, Gungriffin, J.W. Holmes, and mbqb11 for the response so quickly this type of input could really improve ones trading thanks for the effort in the responses.

There should be a daily and four hour chart both with arrows over the bar that interested me....
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  • #97,227
  • Jun 23, 2011 8:24pm Jun 23, 2011 8:24pm
Quoting almann400
Hopefully the chart loads and you can see what i saw from my phone at work and got excited?? Hopefully i can get a few more tips as to what i should be looking for in this case for the future?

Ok now that i look at it more, im glad i did not take it even though there could be a nice retrace there i do not think it is an A trade. I would like to thank Donkey, Gungriffin, J.W. Holmes, and mbqb11 for the response so quickly this type of input could really improve ones trading thanks for the effort in the responses.

There should be a daily and...
Hey Almann

Notice on the daily that the close of that bar was not within the prior bar. For a pinbar to be a pinbar both the open and close must be within the prior bar. So really that bar is just a bearish bar that closed somewhat high. This does not mean reversal just cause you see a "tail"

As for the 4hr that bar IS technically a pinbar. But it is fighting a very strong down trend(small bar) and also note the BRN right above it. BRN stands for big round number . That being the 1.6 right above. Price is fighting a lot there with such a small bar. Be VERY careful trying to pick the bottom on such a tiny bar

Hope that helps
Mike
  • #97,228
  • Jun 23, 2011 8:25pm Jun 23, 2011 8:25pm
Quoting mbqb11
hey Almann

A lot of people use different feeds so there isn't a standard. I am a stickler for a 5pm est close. I believe it is the sort of unofficial official close to the NY fx session and thus I want my data to change over then. I don't want to include the less liquid asian/aussie into my candle. But again I know people who use anywhere from a 5pm est to a midnight. I would say just stick to what you feel is most comfortable. If you want your charts to match Jims you would need an 8pm est close

Best
Mike
Cross the 'T's & Dot the Eyes.
I have a question which I am not entirely Sure about.
It involves Small Cap US Residents & Trading Spot Gold.

I have read a bunch o' schtuff but still don't (can't) believe it.

In Your Opinion mbqb101
Can I have Your tyhoughts regarding this July 15th debacle that states Us Residents can no longer Trade Spot Gold?
Whack of a venture population if you ask me. But you didn't. I did.

BeeeeeMc
  • #97,229
  • Jun 23, 2011 8:41pm Jun 23, 2011 8:41pm
Quoting Bemac
Cross the 'T's & Dot the Eyes.
I have a question which I am not entirely Sure about.
It involves Small Cap US Residents & Trading Spot Gold.

I have read a bunch o' schtuff but still don't (can't) believe it.

In Your Opinion mbqb101
Can I have Your tyhoughts regarding this July 15th debacle that states Us Residents can no longer Trade Spot Gold?
Whack of a venture population if you ask me. But you didn't. I did.

BeeeeeMc
bunch of BS, but oh well gotta play the game they hand us right B

I know you have had to adapt more then once in your trading career

emmmmmmmBqb
  • #97,230
  • Jun 23, 2011 8:52pm Jun 23, 2011 8:52pm
First of all let me say that it just pleases me when i see that kind of spirit (experienced users welcoming newbies) puts a smile on my face and makes me feel safe by having access to other people's knowledge. I truly belive that common knowledge is the greatest thing and that people willing to share are indeed great people.
I see that both of you advice me to read the whole thread but i ask you guys do you think that's doable ? I don't wanna do the maths but there are like 97000 posts in here, do you realize what that means ? And if so are you saying that this thread covers all aspects of forex trading..?
My plan is to have all the basics before even considering moving to demo..just finished reading Post #1 and i realize that it's suits all that i was thinking about the market, previous of getting here. So.. i'm happy to be aboard.
Also i was wondering, am i in the right place making all these questions considering that there will be others that i have ?
  • #97,231
  • Jun 23, 2011 9:14pm Jun 23, 2011 9:14pm
Quoting funkagenda
First of all let me say that it just pleases me when i see that kind of spirit (experienced users welcoming newbies) puts a smile on my face and makes me feel safe by having access to other people's knowledge. I truly belive that common knowledge is the greatest thing and that people willing to share are indeed great people.
I see that both of you advice me to read the whole thread but i ask you guys do you think that's doable ? I don't wanna do the maths but there are like 97000 posts in here, do you realize what that means ? ...
Hey Funk

Ask as MANY questions as you have(that's why this thread got so big )

But seriously I would suggest reading the first couple hundred pages. ALL of James16 posts, and after that you will be more aware of what is going on and will be able to skip a lot of stuff and dig for the nuggets of gold.

It's interesting for me when new people find this thread, they must see the post count and freak LOL. I don't blame them. I remember when the thread hit like 300 pages we all lost our minds at the "size"

Oh James look what you did bud

Mike
  • #97,232
  • Jun 23, 2011 9:21pm Jun 23, 2011 9:21pm
On top of Mikes recommendations I would suggest to watch the free and excellent videos on the guest sections of J16 website

http://www.james16group.us/Guests/guestmaterial.html

These videos helped me a lot to understand how to trade J16 method profitable.

Cheers
Andreas


Quoting mbqb11
Hey Funk

Ask as MANY questions as you have(that's why this thread got so big )

But seriously I would suggest reading the first couple hundred pages. ALL of James16 posts, and after that you will be more aware of what is going on and will be able to skip a lot of stuff and dig for the nuggets of gold.

It's interesting for me when new people find this thread, they must see the post count and freak LOL. I don't blame them. I remember when the thread hit like 300 pages we all lost our minds at the "size"

Oh James look what you did bud ...
  • #97,233
  • Jun 23, 2011 9:28pm Jun 23, 2011 9:28pm
No, read that as "Not in This Lifetime" Free Lunch.
Push up your sleeves & pull up your socks.
This is gonna take a while.

Enjoy the journey. It happens while you are focused on the Destination.

B
  • #97,234
  • Jun 23, 2011 9:32pm Jun 23, 2011 9:32pm
If price breaks above this PB (1.3964) I betting that price will reach the 1.4 before returning to 1.39

I know I'm not james but I am trying to be! hehe
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  • #97,235
  • Jun 23, 2011 9:35pm Jun 23, 2011 9:35pm
Quoting PIPtaser
Greetings, I am new here but I think I am getting a grasp of whats necessary.. Am I seeing something good here PinBar hitting it's head on a round number 1.03 @ End of day or is this dangerous?? thanks
Doesn't look very big compared to the bearish bars prior to it.

I am sure people will mention this but, zooming in too much can distort bar size. Two clicks from the lowest size on MT4 gives us a pretty good idea of bar size.

Hope this helps



PS: I managed to get out of HK today, or rather I will in 3 hours or so.
I hate HK, too hot, too crowded and oppressive.
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  • #97,236
  • Jun 23, 2011 9:37pm Jun 23, 2011 9:37pm
Quoting funkagenda
Hi guys, just joined in ..nice being here !!
It's like three weeks since i've started reading about FX...for now i'm just doing basic learning. i do my reading at Investopedia..what do you tink about it ? it's a good place to start ? i've also heard about babypips and i'm searching for advices for a place to do the basic studies ! could you recomand a particular one ?
I have a lot of time and patience, and a feeling that i'm in the right place trying do learn the right thing ..that's all for now. I'm waiting for your replies ..
Welcome Funkagenda,

The school of babypips is good, I went through it 3 or 4 years ago. I would not recommend trading any of the systems they present there. I would recommend using that as a dictionary of sorts. Learn to trade from the resources you find on this thread. The video link that Andreas posted has tons of valuable info.


Good luck on your journey

Jacob
  • #97,237
  • Jun 23, 2011 9:59pm Jun 23, 2011 9:59pm
Off to the airport folks.

See you all again when I arrive in Northern China.
If they let me in, that is! LOL

And if anyone is ever in HK, DON'T stay at the City Garden Hotel on North Point.
It is a four star hotel but sucks big time.
Changed rooms 3 times because of various problems, like water leaking from the ceiling. Can you believe that? it's true.
  • #97,238
  • Jun 23, 2011 11:31pm Jun 23, 2011 11:31pm
Quoting Pinbar
Off to the airport folks.

See you all again when I arrive in Northern China.
If they let me in, that is! LOL

And if anyone is ever in HK, DON'T stay at the City Garden Hotel on North Point.
It is a four star hotel but sucks big time.
Changed rooms 3 times because of various problems, like water leaking from the ceiling. Can you believe that? it's true.
Cool PB. Say hello to Harbin for me. Been there. Done That & Watched the 'T' Shirt being made.

B
  • #97,239
  • Jun 23, 2011 11:59pm Jun 23, 2011 11:59pm
Quoting Bemac
Cross the 'T's & Dot the Eyes.
I have a question which I am not entirely Sure about.
It involves Small Cap US Residents & Trading Spot Gold.

I have read a bunch o' schtuff but still don't (can't) believe it.

In Your Opinion mbqb101
Can I have Your tyhoughts regarding this July 15th debacle that states Us Residents can no longer Trade Spot Gold?
Whack of a venture population if you ask me. But you didn't. I did.

BeeeeeMc

GAHHH yes!!! We can still trade gold just not with ANY leverage. So all of the appeal is gone for me. God save the queen, and I guess the US government is going to save all of the idiots...
  • #97,240
  • Jun 24, 2011 1:24am Jun 24, 2011 1:24am
Quoting mbqb11
Hey Almann

Notice on the daily that the close of that bar was not within the prior bar. For a pinbar to be a pinbar both the open and close must be within the prior bar. So really that bar is just a bearish bar that closed somewhat high. This does not mean reversal just cause you see a "tail"

As for the 4hr that bar IS technically a pinbar. But it is fighting a very strong down trend(small bar) and also note the BRN right above it. BRN stands for big round number . That being the 1.6 right above. Price is fighting a lot there with such a small...
April 7 2003?
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