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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

  • #97,581
  • Jun 29, 2011 12:31pm Jun 29, 2011 12:31pm
I thought it will be triggered quickly but nothing....I feel the market is sleeping.....or they wait for something....

Thanks Adi, good to see someone else saw it too....

Monika
  • #97,582
  • Jun 29, 2011 12:35pm Jun 29, 2011 12:35pm
GBP/CHF has done a PBT@CA at 1.3400 with a PPC at 3383 and a nice double bottom on 4H. Daily is shaping up to be a rather tasty looking BUOB if it closes well..
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Anything can happen.
  • #97,583
  • Jun 29, 2011 12:41pm Jun 29, 2011 12:41pm
Holy ding dong! I opened a new demo this week and up 11.3% just this week.

Why oh why can't trade live like this?....
Anything can happen.
  • #97,584
  • Jun 29, 2011 12:42pm Jun 29, 2011 12:42pm
Quoting ddinnov
Holy ding dong! I opened a new demo this week and up 11.3% just this week.

Why oh why can't trade live like this?....
Fantastic performance really! Would you mind me asking how many trades and what was your risk per trade?
  • #97,585
  • Jun 29, 2011 12:46pm Jun 29, 2011 12:46pm
Quoting Panthera
I thought it will be triggered quickly but nothing....I feel the market is sleeping.....or they wait for something....

Thanks Adi, good to see someone else saw it too....

Monika
My feed on the daily has a good looking pin forming off the BRN .9000. On the weekly we are at the top of a wedge. I'll be watching this one tonight.

Jacob
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  • #97,586
  • Jun 29, 2011 12:51pm Jun 29, 2011 12:51pm
Quoting Adilius07
Fantastic performance really! Would you mind me asking how many trades and what was your risk per trade?
Thanks. So far it's been on 3 trades at 2% risk. Been experimenting with PBT&CA or B and raczekfx 'kaboom!' touch trades. May have got lucky though. Only taking moves off very strong confluenced levels.
Anything can happen.
  • #97,587
  • Jun 29, 2011 12:55pm Jun 29, 2011 12:55pm
Quoting ddinnov
Thanks. So far it's been on 3 trades at 2% risk. Been experimenting with PBT&CA or B and raczekfx 'kaboom!' touch trades. May have got lucky though. Only taking moves off very strong confluenced levels.
very nice
  • #97,588
  • Jun 29, 2011 2:18pm Jun 29, 2011 2:18pm
Quoting Adilius07
Fantastic performance really! Would you mind me asking how many trades and what was your risk per trade?
Hey Adi,

I did much the same thing. Next month is my 1 year trading birthday and 6 months of J16 so I defaulted my demo account and started afresh.

From last week I've grown a 500GBP account by 20% (and still growing), based entirely on what I have learned here in the forum. Period!
I'm not ready to open a live account based on that figure, in fact I've halved it.
My risk was substantially more than the recommended 2-3% based on the relatively hypothetical 'small' account size. (Not that I'm recommending this to anyone.)
I've read your trading thread and thought I'd share my story too.
Crossing to a live account is the biggest hurdle and I WON'T be risking the same percentage when live.
Finally, all trades were based on the daily time frame on a set and forget strategy. I wanted to sharpen my trades, remove my emotions and increase my productivity at work This has helped massively!

I know your journey Adi, hope this helps.

Tomek
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  • #97,589
  • Jun 29, 2011 2:38pm Jun 29, 2011 2:38pm
Quoting 5.25
Hey Adi,

I did much the same thing. Next month is my 1 year trading birthday and 6 months of J16 so I defaulted my demo account and started afresh.

From last week I've grown a 500GBP account by 20% (and still growing), based entirely on what I have learned here in the forum. Period!
I'm not ready to open a live account based on that figure, in fact I've halved it.
My risk was substantially more than the recommended 2-3% based on the relatively hypothetical 'small' account size. (Not that I'm recommending this to anyone.)
I've read your...
Nice Tomek..Congo!
i will also complete my 6 months of Trading next month (July 11)..
i see that we both joined J16 at same time..
n same number of posts..
advantage of trading a small account is it helps to develop phsycology..
that is what im also trying..but on demo account..i feel 'at rare times' its also better to skip an A+ setup js to put ourselves under control..maybe the "gut" feeling which does not provoke to take a trade..im trying to work on that..(just myself)

All the best dude!!
Keep it up!
  • #97,590
  • Jun 29, 2011 2:40pm Jun 29, 2011 2:40pm
Quoting ddinnov
Thanks. So far it's been on 3 trades at 2% risk. Been experimenting with PBT&CA or B and raczekfx 'kaboom!' touch trades. May have got lucky though. Only taking moves off very strong confluenced levels.
Great RR too!
  • #97,591
  • Jun 29, 2011 2:41pm Jun 29, 2011 2:41pm
Quoting Banzaisky
Hi 5.25, so that IB is a signal to go long then? I'm not to familiar with these.

Any reason why you would be looking to buy the eur over the aud at the moment? I would rather short this pair.
Hey B

The IB is not a signal to go long. Generally, it tells me that price has stalled before making another move. As for the direction, indeed I was hoping it would go long as it had space to move and broke the 1.600 level. But it didn't.

I was not going to go short and trade back into traffic. It happens, I don't feel bad, nothing got triggered.

Remember, It's where your PA signal sits in the 'story' that's key. It validates your entry, not that anything is guaranteed.

Here's one that did work out. FTA met
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  • #97,592
  • Jun 29, 2011 2:43pm Jun 29, 2011 2:43pm
Quoting mbqb11
Hey Biz

There's nothing wrong with fixed targets IF it works for you.

You might have a horrible R:R but win over 90% of your trades. YES I said 90% of your trades. The trader that does this is SUPER cautious, getting stops to b/e and watching FTA like a hawk. This person is also super picky.

I think the reason most traders fail is their inability to be picky and patient. Yes those cliches we hear time and time again.

You might have a horrible R:R. but what if you took the best 4 or 5 trades a month. It's all about the $$ and turning...

Thank you for your help!
  • #97,593
  • Jun 29, 2011 2:44pm Jun 29, 2011 2:44pm
Quoting 5.25
Hey Adi,

I did much the same thing. Next month is my 1 year trading birthday and 6 months of J16 so I defaulted my demo account and started afresh.

From last week I've grown a 500GBP account by 20% (and still growing), based entirely on what I have learned here in the forum. Period!
I'm not ready to open a live account based on that figure, in fact I've halved it.
My risk was substantially more than the recommended 2-3% based on the relatively hypothetical 'small' account size. (Not that I'm recommending this to anyone.)
I've read your trading...

Hi Tomek! Thank you very much for your post and encouragement!
Great performance and keep it up please!

I am now also trying to use set and forget approach. And other tricks to make this process less emotionless...

So thanks, posts like this really help me going and not giving up.
Let's make it happen!
  • #97,594
  • Jun 29, 2011 2:45pm Jun 29, 2011 2:45pm
Quoting 5.25
Hey Adi,

I did much the same thing. Next month is my 1 year trading birthday and 6 months of J16 so I defaulted my demo account and started afresh.

From last week I've grown a 500GBP account by 20% (and still growing), based entirely on what I have learned here in the forum. Period!
I'm not ready to open a live account based on that figure, in fact I've halved it.
My risk was substantially more than the recommended 2-3% based on the relatively hypothetical 'small' account size. (Not that I'm recommending this to anyone.)
I've read your trading...

Hi Tomek! Thank you very much for your post and encouragement!
Great performance and keep it up please!

I am now also trying to use set and forget approach. And other tricks to make this process emotionless...

So thanks, posts like this really help me going and not giving up.
Let's make it happen!
  • #97,595
  • Jun 29, 2011 2:53pm Jun 29, 2011 2:53pm
Well, this one looks like as it will hit the BRN "for sure"...
What do you thik?

EDIT: Oh technically that is not a BUOB, looked so but when I zoomed... 4 pip difference, so could it be a DBLHC setup maybe..
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  • #97,596
  • Jun 29, 2011 2:54pm Jun 29, 2011 2:54pm
Quoting AvanishDemo
Nice Tomek..Congo!
i will also complete my 6 months of Trading next month (July 11)..
i see that we both joined J16 at same time..
n same number of posts..
advantage of trading a small account is it helps to develop phsycology..
that is what im also trying..but on demo account..i feel 'at rare times' its also better to skip an A+ setup js to put ourselves under control..maybe the "gut" feeling which does not provoke to take a trade..im trying to work on that..(just myself)

All the best dude!!
Keep it up!
Thanks Avanish Posts, yes, attachments... you've got a few over me
You've taught me a thing or two on the way, hope it continues... Post on brother!
  • #97,597
  • Jun 29, 2011 3:02pm Jun 29, 2011 3:02pm
Quoting jdl
5.25, do you generally enter these on the break of the IB, or the break of the mother bar? Thanks.
I personally just take the break of the IB. If there is an obstacle in the way such as a BRN, I either pull out or put an order just above it.
  • #97,598
  • Jun 29, 2011 3:06pm Jun 29, 2011 3:06pm
Quoting supremeChaos

Hey Tomek, nice pics too.
i would love to be an architect just like u.
I would love to play the drums, just like you

Take a look at Tadao Ando. From truck driver and boxer to architect, "despite never having taken formal training in the field". Genius!
  • #97,599
  • Jun 29, 2011 3:07pm Jun 29, 2011 3:07pm
Quoting 5.25
Thanks Avanish Posts, yes, attachments... you've got a few over me
You've taught me a thing or two on the way, hope it continues... Post on brother!
lol yeah...
also its rightly said it takes days to learn n fit pieces into recognizable picture..i now believe that..
when i saw J16 methods for the first time..
i was like "Hey even a 5th standard/5th grade student can do this"..but gotta believe the stats,95% are failed traders..(major chunk of them must be not knowing abt J16)..i have some longlost online friend..(not sure how he added me on social networking site)..n he trades Forex based on "instincts"
  • #97,600
  • Jun 29, 2011 3:20pm Jun 29, 2011 3:20pm
Quoting Adilius07
Well, this one looks like as it will hit the BRN "for sure"...
What do you thik?

EDIT: Oh technically that is not a BUOB, looked so but when I zoomed... 4 pip difference, so could it be a DBLHC setup maybe..
Ok, now is a BUOB with strong close and divergence and just triggered
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