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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

  • #98,181
  • Jul 11, 2011 11:56am Jul 11, 2011 11:56am
Quoting snowly
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...
1.3 pips spread? I can afford that.
  • #98,182
  • Jul 11, 2011 11:59am Jul 11, 2011 11:59am
Quoting Adilius07
1.3 pips spread? I can afford that.
at... 50 pips move(on average) - 2.5%(x2)? the broker is your relative?

half jokin' obviously, but still... it's slow mode inc
  • #98,183
  • Jul 11, 2011 12:02pm Jul 11, 2011 12:02pm
Quoting snowly
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...
lol, what broker you on, if usdjpy spread is huge?
  • #98,184
  • Jul 11, 2011 12:05pm Jul 11, 2011 12:05pm
Quoting deankenny21
lol, what broker you on, if usdjpy spread is huge?
I have ~1.1(checked now - they say 0.9 on avg... maybe, don't really watch the pair); but it's not spread, it's spread/volatility which is relevant.
  • #98,185
  • Jul 11, 2011 12:18pm Jul 11, 2011 12:18pm
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?
Nice one Adi. I did a double take on the bar but decided against with BRN so close. I think you played that one perfectly.
  • #98,186
  • Jul 11, 2011 12:20pm Jul 11, 2011 12:20pm
Quoting Donkey
Nice one Adi. I did a double take on the bar but decided against with BRN so close. I think you played that one perfectly.
I might over think myself on this one, but this could break us out
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  • #98,187
  • Jul 11, 2011 12:34pm Jul 11, 2011 12:34pm
Quoting mbqb11
I might over think myself on this one, but this could break us out
I certainly hope so (for your account balance and me another opportunity)
  • #98,188
  • Jul 11, 2011 12:47pm Jul 11, 2011 12:47pm
Hello, I haven't been able to post much, work commitment and all, but I've been learning stuffs from the thread whenever I have the chance. I found myself keep going back to trading pin bar strategy and have read up as much as I can on it, I have a newbie question, I hope you guys are okay with it.

What currency pairs are ideal to trade this strategy? I would just trade daily pin bar so I think I can afford to watch more than 1 pair.
  • #98,189
  • Jul 11, 2011 12:48pm Jul 11, 2011 12:48pm
been under the weather. feeling better.
  • #98,190
  • Jul 11, 2011 12:48pm Jul 11, 2011 12:48pm
Quoting Donkey
Nice one Adi. I did a double take on the bar but decided against with BRN so close. I think you played that one perfectly.
Thanks. Yes I was worried, almost canceled the order before it triggered mainly due to BRN and this sideways kind of movement.
But the Bar was too sexy to skip... Glad it worked out.
  • #98,191
  • Jul 11, 2011 12:50pm Jul 11, 2011 12:50pm
Quoting james16
been under the weather. feeling better.

oooo hello James, i didnt think you posted here no more, i been trying to get on the guest chat room on your site but it doesnt work
  • #98,192
  • Jul 11, 2011 12:56pm Jul 11, 2011 12:56pm
Quoting mbqb11
I might over think myself on this one, but this could break us out
Hope so too! Looks as IF that 80 breaks it could be a nice move down.
I was just too scared to cope with possible bounce off that BRN.
  • #98,193
  • Jul 11, 2011 1:05pm Jul 11, 2011 1:05pm
Quoting Adilius07
Hope so too! Looks as IF that 80 breaks it could be a nice move down.
I was just too scared to cope with possible bounce off that BRN.
you played it MORE then perfect Adi. I am sort of going on a bit of gut feel + the technicals. I have half my risk off so we'll see how things shape up

You are doing great my friend

Mike
  • #98,194
  • Jul 11, 2011 1:05pm Jul 11, 2011 1:05pm
Quoting james16
been under the weather. feeling better.
cause it is 110 there! Stay hydrated my friend
  • #98,195
  • Jul 11, 2011 1:10pm Jul 11, 2011 1:10pm
Quoting mbqb11
you played it MORE then perfect Adi. I am sort of going on a bit of gut feel + the technicals. I have half my risk off so we'll see how things shape up

You are doing great my friend

Mike
Thank you Mike, trying my best. If I learn to filter those C trades that I take sometimes for some unknown reason, maybe I would slowly begin to accumulate some profits. For now I still fight with my psychological issues. But it's ok, I'm gonna make it happen! Thanks!
  • #98,196
  • Jul 11, 2011 1:12pm Jul 11, 2011 1:12pm
Quoting Adilius07
Thank you Mike, trying my best. If I learn to filter those C trades that I take sometimes for some unknown reason, maybe I would slowly begin to accumulate some profits. For now I still fight with my psychological issues. But it's ok, I'm gonna make it happen! Thanks!
just so i can learn here, what made that usdjpy trade A+ trade?

and how do u define between each trade level a+ b c d etc?
  • #98,197
  • Jul 11, 2011 1:28pm Jul 11, 2011 1:28pm
Quoting deankenny21
just so i can learn here, what made that usdjpy trade A+ trade?

and how do u define between each trade level a+ b c d etc?
Yes. Super question!

I was struggling myself for almost a year to define what is A+ for me, to define it objectively! I tend to make things systematic as I notice, so I just made a list where I have conditions what must be met for the setup to be A+.

As we know there are like "odds enhancers" BRN, Divergence, PPZ, Space, Swing hi/lo, the bar is the swing hi/lo bar, strong close, strong tail sticking out, engulfing several bars, pattern breakout, pitbull bar, with trend/against trend...

But rarely all those conditions align, if they are, you really got A+++, but what is A+ for you is something that you could/should compromise. Like the setup is not at the BRN and not much space but there is a pattern breakout and divergence, against trend but perfect close of a truly pitbull bar.. I played with those combinations and I think I got me a good trading plan today.

Now, the problem is to WAIT for those in my plan ONLY. Sometimes I would just shoot, for some reason... so I begin to believe that psychology could be important as well

Hope it helps a bit.
  • #98,198
  • Jul 11, 2011 3:13pm Jul 11, 2011 3:13pm
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?
Sure did Adi. This one worked out as planned too (contrary to the weekly charts).

Regarding the usd jpy, like many trades so far (something I'm testing), I've left 1/3 to 1/4 on the table. eurchf on the other hand was all in all out. If there is a clear identifiable area where price is likely to move against me, I follow the latter strategy.

Demo account attached as of 2-3 weeks, J16 style (This I hope Jim will please you. Get well soon.) Live account is a slower upward trend.
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  • #98,199
  • Jul 11, 2011 4:17pm Jul 11, 2011 4:17pm
Quoting james16
been under the weather. feeling better.
I don't see "better" on the Members List. Or "the weather" Sounds like Fun tho'
Glad to hear it Jim.

B
  • #98,200
  • Jul 11, 2011 4:38pm Jul 11, 2011 4:38pm
any body took the trade, what do you guys think of this? Mike? (please click on my chart to get a closer look)
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