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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

  • #98,161
  • Jul 11, 2011 9:14am Jul 11, 2011 9:14am
Quoting gungriffin
There are so so many nice places here in the 'States that are inexpensive and for what you get. To give an example I live in Denver Colorado and my share of the rent/utilities with a 2 roommates is only $475. Our house is about 2,800 sq ft. There is a killer public transit system too. I make too much money as a server at a restaurant . It rocks. Plus gas is super cheap here when compared with many areas of the world...
wow, thanks Sir for sharing your view.
comparatively here, with $475, i can probably rent for +/-4months. (not necessarily with 2,800sq.ft)
but we cant make too much money here serving in restaurants
& we have killer traffic here
Quote
*Edit* It is always good to toss a few of these posts in for the new people reading from the front of the thread. It gives their minds a chance to rest for a moment and get a laugh from us
i think u mean these posts add to the voluminous number of pages/posts we/they read/need to scan through.
  • #98,162
  • Jul 11, 2011 9:17am Jul 11, 2011 9:17am
Quoting gungriffin
There are so so many nice places here in the 'States that are inexpensive and for what you get. To give an example I live in Denver Colorado and my share of the rent/utilities with a 2 roommates is only $475. Our house is about 2,800 sq ft. There is a killer public transit system too. I make too much money as a server at a restaurant . It rocks. Plus gas is super cheap here when compared with many areas of the world...

*Edit* It is always good to toss a few of these posts in for the new people reading from the front of the thread. It gives...
LOL where do you work gun? I have been in the restaurant biz my entire working life and have never heard one of my servers say they make too much money. It's usually that *&$^ just stiffed me
  • #98,163
  • Jul 11, 2011 9:20am Jul 11, 2011 9:20am
Quoting J.W. Holmes
LOL where do you work gun? I have been in the restaurant biz my entire working life and have never heard one of my servers say they make too much money. It's usually that *&$^ just stiffed me
they never tell the boss, because u might reduce their pay
  • #98,164
  • Jul 11, 2011 9:26am Jul 11, 2011 9:26am
Quoting supremeChaos
they never tell the boss, because u might reduce their pay
That is kinda true, I was a server many years back myself. We made $2.15 an hour back then, I think the minimum wage was $5.15 then. Tips were crucial. I left the restaurant biz a year ago, I was paying my servers $4.25 with minimum wage being $7.25. In AZ you are allowed to pay servers $3.00 below minimum and I never paid a red cent more then that, so there wasn't much to cut
  • #98,165
  • Jul 11, 2011 9:27am Jul 11, 2011 9:27am
Quoting Adilius07
Too many dealers, is just governemnet with its taxes, fees, commissions, quotes, customs etc etc
The plate is not russian, but the language is. Where is this place?
  • #98,166
  • Jul 11, 2011 9:38am Jul 11, 2011 9:38am
Quoting Valinn
Hey guys, quick question. I just want to ask, for those of you that trade lower then the daily time frame, what for sleep schedule you are on? With me being on the east cost and trading GMT, my daily bars close at 8pm. Which is great, but Ive been trading 1hr/15min for the past two years and it has my sleep schedule messed up. Now it seems, short of moving, that having a poor/irregular sleep schedule its just part of the game of lower time frame trading, at least on the east cost. The problem is its starting to affect my rest and recovery for...
Hey V

Yep sleep is a commodity when you're on the east coast and want to be around for the best times on the lower timeframes. Generally my sleep schedule varies and have learned that when my body is aching for it just sleep and don't worry about the missed moves. Also there is nothing wrong with sticking to just the higher timeframes as well. But if you figure out a good sleep schedule I would be the first to love to know. Lucky I am an insomniac most nights so it forces my hand

Best
Mike
  • #98,167
  • Jul 11, 2011 10:14am Jul 11, 2011 10:14am
Thread gone ever so slightly off track here
  • #98,168
  • Jul 11, 2011 10:43am Jul 11, 2011 10:43am
Short based on weekly IPB. FTA reached so stop loss is on BE now.
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  • #98,169
  • Jul 11, 2011 10:47am Jul 11, 2011 10:47am
Quoting biDc
Short based on weekly IPB. FTA reached so stop loss is on BE now.
same; sl at be on both aud/usd and aud/jpy; only that damn usd/cad doesn't raise fast enough...
  • #98,170
  • Jul 11, 2011 10:51am Jul 11, 2011 10:51am
daily EUR/CHF, BEOB.
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  • #98,171
  • Jul 11, 2011 10:54am Jul 11, 2011 10:54am
Quoting snowly
same; sl at be on both aud/usd and aud/jpy; only that damn usd/cad doesn't raise fast enough...
It's possible the loony may set up a bearish flag in the weekly. I'm just waiting to see if it happens. A 50% FR of the BEOB from last week will place the price at confluence with PPZ/FR/150EMA in the daily! A 32% FR will place it within range of PPZ/FR/RN. It's up to PA to see what it will do to me.
  • #98,172
  • Jul 11, 2011 11:02am Jul 11, 2011 11:02am
anybody watching the 4hr close, on the eur usd reaction to 1.4000
  • #98,173
  • Jul 11, 2011 11:23am Jul 11, 2011 11:23am
Quoting cold chisel
Hi Mike.

I have a question. Is there any particular reason for not having any partial positions at all?
Thank you for your answer in advance. You help us new guys a lot.
Hey Cold

Apologies for missing this, I miss the delayed new posters sometimes.

I used to use partial positions but just found it was hurting my bottom line. I went back over all my old trades and ran some analysis and it proved to be VERY different. I decided I was doing it for the wrong reasons(mostly to stroke my ego) rather then to benefit the best way how I trade. So now I am either all in or all out on a trade.

It's whatever works best for you though

Sorry again for the long delay

Mike
  • #98,174
  • Jul 11, 2011 11:24am Jul 11, 2011 11:24am
Quoting biDc
It's possible the loony may set up a bearish flag in the weekly. I'm just waiting to see if it happens. A 50% FR of the BEOB from last week will place the price at confluence with PPZ/FR/150EMA in the daily! A 32% FR will place it within range of PPZ/FR/RN. It's up to PA to see what it will do to me.
97 should be a tough cookie; but my main problem is that time ain't on my side... debt agreement, volatility, inherent bad news... bleah, ideally I'd hope to tp by the end of the week.

the reason I've avoided eur last months is because a bad news can come any min. so being long usd this month is rather unpleasant.

at least I got rid of the huge correlation(aud/usd, aud/jpy, usd/cad - more or less same thing, so regardless of my convictions was unpleasant)...
  • #98,175
  • Jul 11, 2011 11:51am Jul 11, 2011 11:51am
Quoting mbqb11
Hey Cold

Apologies for missing this, I miss the delayed new posters sometimes.

I used to use partial positions but just found it was hurting my bottom line. I went back over all my old trades and ran some analysis and it proved to be VERY different. I decided I was doing it for the wrong reasons(mostly to stroke my ego) rather then to benefit the best way how I trade. So now I am either all in or all out on a trade.

It's whatever works best for you though

Sorry again for the long delay

Mike
Hey Mike, no worries.

Good remark about the ego, had the same feeling, so stopped taking partial positions. Good to know that at least I'm doing something just as the big boys do.
  • #98,176
  • Jul 11, 2011 12:10pm Jul 11, 2011 12:10pm
Gold. Lots of space. Not much traffic.
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  • #98,177
  • Jul 11, 2011 12:48pm Jul 11, 2011 12:48pm
This was a beauty.
Dax was similar but i liked this more, Weekly was a Small pin too but Daily bar for me exactly where we want to see it. Good size and shape with good close. (in my opinion) Don't go making this difficult. J16 isn't! Thanks Jim, jaroo Mike et all.
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  • #98,178
  • Jul 11, 2011 12:52pm Jul 11, 2011 12:52pm
Quoting supremeChaos
even if it is a valid BUOB, it didnt trigger/break.
also, we are not taught to trade all PA setups; we are taught to look at the overall situation, not just the PA setup.
let's wait for his charts
Yeah, I screwed up - apologies. It didn't trigger. I accept this Supreme. I was trying to get in at a better price on the bueob and took a chance.

I have only myself to blame.

After a retracement, do you have a maximum number of bars (e.g. weekly/daily) for it to trigger before you would execute a trade on a BUOB or BUEOB? Would you pass on a trade if there were too many bars before it triggered?

Thanks,
KR
  • #98,179
  • Jul 11, 2011 1:46pm Jul 11, 2011 1:46pm
Ok, I'm out of this trade completely.
That BRN is too scary. Good trade.
All I need to do is skip those that not fit my trading plan 100%


Anyone esle traded it?
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  • #98,180
  • Jul 11, 2011 1:52pm Jul 11, 2011 1:52pm
Quoting Adilius07
Ok, I'm out of this trade completely.
That BRN is too scary. Good trade.
All I need to do is skip those that not fit my trading plan 100%


Anyone esle traded it?
whoa... you trade that?! slow mode inc.?

the commission/spread is huge... even aud/nzd is cheaper commission wise if you take in acct. volatility...
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