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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

  • #97,921
  • Jul 5, 2011 9:24pm Jul 5, 2011 9:24pm
Quoting mbqb11
you can see all my posts pinbar they are right here for ya

That's OK, I am not into stalking, especially guys. LOL
  • #97,922
  • Jul 5, 2011 9:45pm Jul 5, 2011 9:45pm
Quoting Pinbar
That's OK, I am not into stalking, especially guys. LOL
Mr. Trend
  • #97,923
  • Jul 5, 2011 10:29pm Jul 5, 2011 10:29pm
Quoting morph
I'm in this off the pinbar
OK it's small - but the location is excellent off BRN and good space. Confluence with 38.2 fib as well. Also with the trend.
wow, u caught a good runner.
they 'did it' (Moody's news release) near the NY close, those bxstards
i was very lucky to be awake at the time (2am in the Philippines)... traded the eur$ drop

Quoting Maverick69
How do you guys play risk/reward and stop losses?..
u have to read further (check the charts & seniors' posts) & find what suits u.
  • #97,924
  • Jul 5, 2011 10:36pm Jul 5, 2011 10:36pm
Quoting supremeChaos
wow, u caught a good runner.
they 'did it' (Moody's news release) near the NY close, those bxstards
i was very lucky to be awake at the time (2am in the Philippines)... traded the eur$ drop


u have to read further (check the charts & seniors' posts) & find what suits u.
Moody's news...good news for CHFs?
i see CHFs was giving the most reaction late night.
sorry..no fundamentals here..but its fun to know!
  • #97,925
  • Jul 6, 2011 12:32am Jul 6, 2011 12:32am
I was going over the Market Sentiment Beta. It looked like it could be a great tool to get the opinions of the veterans on this site. After all, the more information we have about a given trade, the better our decision-making can be(notice I said, "CAN" be, not "WILL" be).
I was also noticing that a lot of the time people would give their opinion, the strength, and the time frame, but not give the reasons. If us newbies are ever going to make good decisions in an ever-changing market, it seems to me that's the most important part. What do you guys (and gals) think?
"The only way to win the game is not to play." - B. S. Miller
  • #97,926
  • Jul 6, 2011 1:05am Jul 6, 2011 1:05am
Quoting mbqb11
Hey Maxy

I don't mind the IB bar play off the BRN. i would be cautious with expecting such a huge move from it. Not that it can't but this pair has been choppy and till proven otherwise I always believe a pair will be more likely to be choppy then not. Just be sure to protect yourself once it gets moving no need to take a loss, if it runs it runs

Best
Mike
Hi Mike,

Thanks for advise, I have been taken this trade with the tighten SL (move to BE), now the update this eucad looks like still valid the set up to going lower,

Brgds,
Maxy
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  • #97,927
  • Jul 6, 2011 1:25am Jul 6, 2011 1:25am
Im short the Eurusd 2 days ago due to a bearish engulfing bar at daily resistance, targeting next level of support at the psychological round number with partial exit.
  • #97,928
  • Jul 6, 2011 1:35am Jul 6, 2011 1:35am
Quoting CalistogaKid
I was going over the Market Sentiment Beta. It looked like it could be a great tool to get the opinions of the veterans on this site. After all, the more information we have about a given trade, the better our decision-making can be(notice I said, "CAN" be, not "WILL" be).
very few participate there. & there are very few veterans here, IMHO. most of us here are new traders.
u should concentrate on doing your analysis, so u are in control of everything. u can look at others' views but ultimately make your own decisions & execute based on them (not on others' views).
Quote
I was also noticing that a lot of the time people would give their opinion, the strength, and the time frame, but not give the reasons. If us newbies are ever going to make good decisions in an ever-changing market, it seems to me that's the most important part.
are u referring to those who reply or those who post the trade setups?
yes, u should post all trading setup-related details to get a detailed response.
  • #97,929
  • Jul 6, 2011 1:55am Jul 6, 2011 1:55am
Quoting CalistogaKid
I was going over the Market Sentiment Beta. It looked like it could be a great tool to get the opinions of the veterans on this site. After all, the more information we have about a given trade, the better our decision-making can be(notice I said, "CAN" be, not "WILL" be).
I was also noticing that a lot of the time people would give their opinion, the strength, and the time frame, but not give the reasons. If us newbies are ever going to make good decisions in an ever-changing market, it seems to me that's the most important part....
You should trust only yourself; and anyway, be fully aware that retail has no influence on the market(price wise) so knowing how retail ppl. are positioned won't help you at all.

If you want something - check oanda, they have somewhere shown the positions of their customers(how many long vs short, % wise, on all their pairs). And probably you could win if you'd always position contrary to the retail market(statistically we lose all the time), though you should adapt your lot sizes to suffer a big DD from time to time.

ah, and be aware they seem to have a pro usd bias all the time(no clue why, probably many US folks and some weird national pride... shrug)

found it

http://fxtrade.oanda.com/analysis/open-position-ratios

Anyway, doubt even 1% of those sharing their market sentiment keep it even remotely up to date, so...

Quoting AvanishDemo
Moody's news...good news for CHFs?
i see CHFs was giving the most reaction late night.
sorry..no fundamentals here..but its fun to know!
bad news, good for chf; bad news in a certain area - that area/chf goes down more than the average chf pair.
  • #97,930
  • Jul 6, 2011 2:19am Jul 6, 2011 2:19am
nice way to break a RN...i love these retracement plays ... a bit early for me though
no suprises where price stalled (for now)

jon
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PATIENCE... DISCIPLINE
  • #97,931
  • Jul 6, 2011 2:22am Jul 6, 2011 2:22am
a 4H dbl IB i did catch. showed a nice 1H BEOB on the retrace again. lets see how it plays out?? if im stopped out or close it manualy today i will place an order to trade the weekly BUOB...

jon
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PATIENCE... DISCIPLINE
  • #97,932
  • Jul 6, 2011 2:28am Jul 6, 2011 2:28am
Quoting snowly
You should trust only yourself; and anyway, be fully aware that retail has no influence on the market(price wise) so knowing how retail ppl. are positioned won't help you at all.

If you want something - check oanda, they have somewhere shown the positions of their customers(how many long vs short, % wise, on all their pairs). And probably you could win if you'd always position contrary to the retail market(statistically we lose all the time), though you should adapt your lot sizes to suffer a big DD from time to time.

ah, and be aware they...
Hey Snowly,

Are you a full time trader? your comment is always very comprehensive in the economic point of view, very nice.

Best
CAV
----------------------------- Discipline makes the difference.
  • #97,933
  • Jul 6, 2011 2:31am Jul 6, 2011 2:31am
eu/us ... a nice break out and retest play. lovely BEOB! again a bit early for me
the cross is where i closed my short yesterday.. :/ lol

jon

nice 1 SC for catchin this
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PATIENCE... DISCIPLINE
  • #97,934
  • Jul 6, 2011 2:37am Jul 6, 2011 2:37am
last one....pre-empted a break out play, was expecting volitility. worked out nicely...
another 1H BEOB breaks the concolidation....
nice to have a good day after the mess i made of things on monday, do you know never even realized it was the 4th untill i came on this thread!!! :/
jon
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PATIENCE... DISCIPLINE
  • #97,935
  • Edited 3:12am Jul 6, 2011 2:48am | Edited 3:12am
Quoting supremeChaos
are u referring to those who reply or those who post the trade setups?
yes, u should post all trading setup-related details to get a detailed response.
In the Market Sentiment section it allows you to pick the asset, state how firm your conviction (bearish or bullish), and the reason you think it will go that way. For instance, if you click below on EUR/USD, you will see the reason I'm bearish on the 3 month outlook. I don't think my opinion carries a lot of weight here, but it's an example of how the section works.
Those are the reasons I refer to. Anyway, I still believe that it would be valuable to pick the vets minds about why they think price action goes the way it goes. But, I don't think the discussion really belongs here. It's kind of off topic, and I don't want to muddy the waters on such an important thread. So please, anyone that wants to discuss it, PM me.
"The only way to win the game is not to play." - B. S. Miller
  • #97,936
  • Jul 6, 2011 6:24am Jul 6, 2011 6:24am
asdf... it's the 2nd time I miss an opportunity on usd/chf. That being said, the trendline was tested 5 times already and held... it starts to be time to break(maybe).

Quoting CavinK
Hey Snowly,

Are you a full time trader? your comment is always very comprehensive in the economic point of view, very nice.

Best
CAV
Yes; day trading mostly. A friend who wanted to post here and I was to translate his posts made this acct. That being said, given that 100% of what I've learnt during time was for free from various sources, it's only normal to try and chime in...

And for people who don't want to delve in economics and plan to stick exclusively to TA - frankly, don't see how they could get a better source than this thread.
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  • #97,937
  • Jul 6, 2011 6:29am Jul 6, 2011 6:29am
This is what I'm looking for!
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Nothing personal,just business
  • #97,938
  • Jul 6, 2011 6:30am Jul 6, 2011 6:30am
@ Snowly

take away the TA from this thread and we still get alot of good stuff particularly when starting out, especially from the James's videos
  • #97,939
  • Jul 6, 2011 6:44am Jul 6, 2011 6:44am
It all makes me think, I don't know what to think.

There again, I have just come back from my first night out alone in Harbin, full of beer a goodies, the total of which cost me about $5.00 USD. My good wife, is in Japan sorting some stuff out there.

This kind of night out, really makes one think about Everything.
  • #97,940
  • Jul 6, 2011 6:50am Jul 6, 2011 6:50am
my first week trading James16 style

i have 3 open trades
all from daily

sell usd chf +69 pips
sell eur jpy +146 pips
sell nzd usd - 14 pips

ive never had so many positive pips showing before
but now im currently paranoid they reverse etcetc and go down, theres me thinking its hard getting in a good trade, wow its just as hard figouring a way out lol.

PS: i have took partial profits on both the usd chf and eur jpy
but i have a micro account, so the minimum lot i can do is 0.01 which is 10cents a pip average.

So for my risk i can trade max 0.02 so the only partial profits i can take is 0.01 which is 50%. i would prefer lumps of 3 or 4 takings of profits, but hopefully as my account grows my risk will allow me more than 0.02 at a time
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