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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

  • #98,461
  • Jul 14, 2011 8:44am Jul 14, 2011 8:44am
Quoting Knight Rider
....
It would just be refreshing to see some of these trades in real time, don't you think?
Hindsight is a wonderful thing.....
Sir Knight Rider,
many traders, old & new, post trades here, A+ or not, winning or not, almost in real time (sometimes a few days in advance). u just have to be present/logged in often to view these posts.
also, "A+" is trader-dependent. so u have to find/discover your own.

Adi used to be "in the hindisght camp", just a few months ago.
look at him now. he is now a believer & he is doing much much better, IMHO.

"to see is to believe" doesnt apply to everything.
new traders, &/or those new to any method, should get down to the mud, study&practice ...& remove the hindsight mentality. IMHO.
  • #98,462
  • Jul 14, 2011 8:46am Jul 14, 2011 8:46am
anyone still in on the cable long from pinbar, its hovering below that 1.62 heres hoping for a smash through it
  • #98,463
  • Jul 14, 2011 8:46am Jul 14, 2011 8:46am
Quoting huskyboy
8% per year on a saving account. Where is that, i'm coming
holy crap is right. Mine is at .05 i think lol
  • #98,464
  • Jul 14, 2011 8:54am Jul 14, 2011 8:54am
Quoting deankenny21
anyone still in on the cable long from pinbar, its hovering below that 1.62 heres hoping for a smash through it
I am still in. I have a tight stop at 1.6085 and watching it closely. And I agree with you it needs to get through that resistance confidently or Im probably out.
  • #98,465
  • Jul 14, 2011 8:54am Jul 14, 2011 8:54am
Quoting Knight Rider
It wouldn't be for me, I can assure you!

It would just be refreshing to see some of these trades in real time, don't you think?

Hindsight is a wonderful thing.....
hey KR,
read the EDIT post of Mike..
hope that makes real sense..
i hope every one agrees to it!!

Quoting mbqb11
Hey AV

This is not a setup I would class into breakout and retests. I need a concrete breakout pattern. Like a channel, or a flag, or a wedge to take a breakout and retest. The above would be a retest of a PPZ. Not wrong to do but not the same thing for me, they can be much trickier especially small bars in traffic. Where traffic doesn't come into play is as you said but it needs to be off a breakout pattern


Edit I should say that sitting here putting up live trades(which i have done many times, many more in the PF where I feel people are more responsible since they know how we are) is very tough to do. Not because I can't but because people follow you into trades blind. This is not my goal here. I don't care what people think about me. I am here to help, but I get very fearful of people following me into a trade. I can handle losing my own money, not others.

Best
Mike
  • #98,466
  • Jul 14, 2011 8:59am Jul 14, 2011 8:59am
Quoting supremeChaos
Sir Knight Rider,
many traders, old & new, post trades here, A+ or not, winning or not, almost in real time (sometimes a few days in advance). u just have to be present/logged in often to view these posts.
also, "A+" is trader-dependent. so u have to find/discover your own.

Adi used to be "in the hindisght camp", just a few months ago.
look at him now. he is now a believer & he is doing much much better, IMHO.

"to see is to believe" doesnt apply to everything.
new traders, &/or those new to any method, should get down...
Okay, thanks (Sir) Supreme.

I do appreciate all your constructive comments - I really do.

Please (this goes to everyone) do not take anything I say as being derogatory toward this excellent thread. I am not challenging the integrity of people here.

If people win over 90% of the time on these trades, then that's fantastic.

That's all I have to say on this matter.

KR
  • #98,467
  • Jul 14, 2011 9:03am Jul 14, 2011 9:03am
Quoting mbqb11
Two major things Jon

Firstly it didn't touch the BRN, so there was a lack of confluence

Secondly and more important all the other xxx/jpy pairs were moving in extreme tandem and none other had good bullish type bars. If you look on bar 2, it was across the board strong bullish movements with other good bullish bars

First one can be tempting but there's not enough there. 5 years ago I would have taken the first one

Best
Mike
thanks Mike, great insights as per...
and thanx for clearing up the breakout thing. i thought as much..

jon

EDIT: i must be learning as i wasnt tempted by the first one either!!
PATIENCE... DISCIPLINE
  • #98,468
  • Jul 14, 2011 9:08am Jul 14, 2011 9:08am
Quoting Knight Rider
Okay, thanks (Sir) Supreme.

I do appreciate all your constructive comments - I really do.

Please (this goes to everyone) do not take anything I say as being derogatory toward this excellent thread. I am not challenging the integrity of people here.

If people win over 90% of the time on these trades, then that's fantastic.

That's all I have to say on this matter.

KR
just using this as a bouncing board but it is not important to me wether people here are winning 90% of there trades, what is invaluable is the method taught here and what it does to my trading performance. Who cares what anyone else makes????

jon
PATIENCE... DISCIPLINE
  • #98,469
  • Jul 14, 2011 9:10am Jul 14, 2011 9:10am
Quoting Knight Rider
..
If people win over 90% of the time on these trades, then that's fantastic.
...
i havent read the previous posts...
we dont need 90% win rate, but it's possible.
again, we need to be disciplined/picky, regardless of win rate.
  • #98,470
  • Jul 14, 2011 9:39am Jul 14, 2011 9:39am
Quoting mbqb11
gold was a nice one, but hey I just called that usd/jpy we were talking about! Never saw you post back on that one. I only posted that for you bud!


Just messing of course
Mike

Hi Mike, I did post back, how no, I followed that trade very closely until you exited it. Here is my last comment for that trade:

Quote:
Originally Posted by mbqb11 http://www.forexfactory.com/images/buttons/viewpost.gif
I might over think myself on this one, but this could break us out


Quoting Adilius07
What a trade!

HOWEVER (let me be a smart *** here) that USDJPY does NOT count as "Calling" because this is the first mentioning of it:

http://www.forexfactory.com/attachme...1&d=1310412011



See... it is already in profit a bit, so calling it like this is cheating, lol!
COMPARED to GOLD:

http://www.forexfactory.com/attachme...1&d=1294985589


Ok, just joking of course
  • #98,471
  • Jul 14, 2011 9:42am Jul 14, 2011 9:42am
Quoting Adilius07
Hi Mike, I did post back, how no, I followed that trade very closely until you exited it. Here is my last comment for that trade:

Quote:
Originally Posted by mbqb11 http://www.forexfactory.com/images/buttons/viewpost.gif
I might over think myself on this one, but this could break us out...

well the usd/jpy retraced all the way to my entry so I figured you saw that and that would "count" since I said I was looking for a breakout and test of 80



Mike
  • #98,472
  • Jul 14, 2011 9:43am Jul 14, 2011 9:43am
Quoting supremeChaos
Adi used to be "in the hindisght camp", just a few months ago.
look at him now. he is now a believer & he is doing much much better, IMHO.
  • #98,473
  • Jul 14, 2011 9:46am Jul 14, 2011 9:46am
Quoting james16
...

daytrading to most people means you trade and if your not trading then you must be doing something wrong.

sheep to slaughter is all it is and its all it will ever be.

when i decide to spend a week full time "daytrading" it is very common for me to sit and watch a ym chart for 30 to 40 hours and take 5 trades for a whole week, maybe less.

...

all of this is just my personal humble opinion of course.
Honestly blown away by this, good to know and thank you for sharing james.

reminds me of an analogy that warren buffett uses to talk about patient investing.
imagine you are baseball batter taking trying to hit homeruns. you get only 3 strikes but can let unlimited amount of bad throws get pass you without taking a bat at it. you would wait as many time as you have to,and just stand there and wait patiently until you see the perfect ball coming at you and take your swing.

sitting patiently to wait for a A++ trade is the same thing :
  • #98,474
  • Jul 14, 2011 9:48am Jul 14, 2011 9:48am
Quoting mbqb11
Hey Man you put a huge smile on my face this morning!

Thank you
Mike
Hi Mike!

Well, I should have listened to you guys a lot sooner about keeping records.. There's no substitute for it, it's made identifying any problems a whole lot easier since I've been keeping track.

Quoting mbqb11
here you go guys. Market is out to get me ! Missed my take profit by a pip while I slept
Will/did you get out of this one early now that it's basically bounced off your TP?

Many thanks,
SG
  • #98,475
  • Jul 14, 2011 9:51am Jul 14, 2011 9:51am
Quoting mbqb11
well the usd/jpy retraced all the way to my entry so I figured you saw that and that would "count" since I said I was looking for a breakout and test of 80



Mike
Mike, I was just joking Anyone who was there saw that you posted that trade only as a response to the question I asked if anyone else was in that trade or not. And not calling a trade or anything like that.

And yes you said upfront that you are looking for 80 to break.. (which I was surprised really because usually you obey those BRN a lot and actually you once said something like "no matter how you cut it BRN must be respected" something like this.

Was a great trade anyway!
  • #98,476
  • Jul 14, 2011 9:52am Jul 14, 2011 9:52am
Quoting Sgrb1
Hi Mike!

Well, I should have listened to you guys a lot sooner about keeping records.. There's no substitute for it, it's made identifying any problems a whole lot easier since I've been keeping track.



Will/did you get out of this one early now that it's basically bounced off your TP?

Many thanks,
SG
Hey SG

I am watching the .50 area now, and will consider closing it if we close around there. Just watching how we are reacting here

Best
Mike
  • #98,477
  • Jul 14, 2011 12:28pm Jul 14, 2011 12:28pm
Looking good so far
Attached Image (click to enlarge)
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  • #98,478
  • Jul 14, 2011 12:41pm Jul 14, 2011 12:41pm
Quoting Adilius07
Looking good so far
Wow look at the difference, with the EST feed one.
Attached Image (click to enlarge)
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  • #98,479
  • Jul 14, 2011 12:44pm Jul 14, 2011 12:44pm
Quoting Adilius07
Looking good so far
also check usdchf, countertrend pinbar setting up, but theres nice space for a quick trade
  • #98,480
  • Jul 14, 2011 12:51pm Jul 14, 2011 12:51pm
Quoting thermobee
Wow look at the difference, with the EST feed one.
Yes. For Daily close I like to use FxPro.
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