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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

  • #98,641
  • Jul 15, 2011 1:46pm Jul 15, 2011 1:46pm
Quoting J.W. Holmes
Hmmm, I tried to use your calculator and it didn't produce a level for me

In all non-seriousness, I am heading out to Las Vegas in a few hours (wedding anniversary celebration). If anyone would like me to double their trading account. Simply paypal it to me and choose either black or red, it's like almost 50/50 Have a good weekend all.
u Americans are lucky!
i just love that city..im jealous...lol
Happy Weekend Jacob n others!!
  • #98,642
  • Jul 15, 2011 1:54pm Jul 15, 2011 1:54pm
Quoting mbqb11
Sanity in a post

I think most people that are struggling think that they just change one thing and now they will be profitable. This is why a trader has a good month and then they are stoked, have one bad month and it's onto "tweaking" it out.

This is the hardest part is sticking with something and learning the ins and outs.

It takes most people YEARS and YEARS.

The problem is most people continue to bark up the wrong tree.


Again I challenge anyone who is struggling to turn any profit consistently to do this. Take ONE trade a month....



that is some food for thought....great post!
  • #98,643
  • Jul 15, 2011 1:55pm Jul 15, 2011 1:55pm
Quoting behman8850
Hello Sir,
I am new here and am interested to follow your tades as soon as you take with your charts n the reasons why you have taken that trade. Can you do it here please as i want to learn your method.
Bomi
Thanks.
Hi Bomi. Welcome!

Can't say I'm comfortable with this I'm afraid. My previous posts were a result of a TEST I took for my own development and I passed. I didn't go out to see if I could double my DEMO account. I wanted to prove to myself that I could be consistent for a month before going live. Can I replicate the same results for another month, two, six, year? I strongly doubt it.

The next step for myself is a 50GBP account with a 2% risk. Why 50GBP? Because it's a value I CAN ACCPET TO LOOSE if my 'edge' happened to be fortuitous.

I'm not claiming to be an expert. My "method" already exists in this forum and is continually discussed and thought here by others far more capable than me. I've studied this for 6months, architecture for 10 years, it's never finite or conclusive. I'm always learning.

Post some charts, it'll be far more beneficial than me or anyone else posting their own to "replicate". This is dangerous.

Hope this is clear?

T
  • #98,644
  • Jul 15, 2011 1:56pm Jul 15, 2011 1:56pm
what is the advice for silver ?

Thanks and happy week-end al, great reading on this thread !!!
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  • #98,645
  • Jul 15, 2011 2:00pm Jul 15, 2011 2:00pm
Quoting huskyboy
what is the advice for silver ?

Thanks and happy week-end al, great reading on this thread !!!
my view:
go up to the next timeframe and check the weekly.
we got two very bullish candles.
i for myself will never trade against them, but would consider a long above 40 usd.
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meine augen sind die sterne
  • #98,646
  • Jul 15, 2011 2:04pm Jul 15, 2011 2:04pm
Quoting J.W. Holmes
Hmmm, I tried to use your calculator and it didn't produce a level for me

In all non-seriousness, I am heading out to Las Vegas in a few hours (wedding anniversary celebration). If anyone would like me to double their trading account. Simply paypal it to me and choose either black or red, it's like almost 50/50 Have a good weekend all.
Only once you've proven yourself with a sustained a 90% strike rate
  • #98,647
  • Jul 15, 2011 2:06pm Jul 15, 2011 2:06pm
Quoting 5.25
As it's Friday, here's mine:

http://www.youtube.com/watch?v=eSBybJGZoCU
Damn... Thats something i wanted to hear. Not much good music these days in the mainstream media. I can only offer that smooth vibe:

Inserted Video
  • #98,648
  • Jul 15, 2011 2:17pm Jul 15, 2011 2:17pm
Quoting huskyboy
what is the advice for silver ?
...
i share Sir aserbfx's view.
that is a relatively small PB prior a relatively larger bullish bar. (looks like it barely triggered?)
& relatively smooth uptrend from 33 area.

so far from your chart it looks like it's moving higher, 40+. (possibly breaking that range).

Quoting Greenhaze
Damn... Thats something i wanted to hear...
...
nice music, but no pocket calculator like in the prior video
  • #98,649
  • Jul 15, 2011 2:17pm Jul 15, 2011 2:17pm
Quoting aserbfx
my view:
go up to the next timeframe and check the weekly.
we got two very bullish candles.
i for myself will never trade against them, but would consider a long above 40 usd.
Thanks, you guys make it that easy, i was focused on that PB and waiting for a retrace to get in short, now that i see those bullish weekly bars i guess you are correct.
  • #98,650
  • Jul 15, 2011 2:19pm Jul 15, 2011 2:19pm
Quoting Greenhaze
Damn... Thats something i wanted to hear. Not much good music these days in the mainstream media. I can only offer that smooth vibe:

http://www.youtube.com/watch?v=cpHaFmVacl0
I am sorry gentelman if i bored You with that downtemp music. 2 years ago , me and my girlfriend joined this fantastic concert. It turned out i had fake tickets but I talked my way thru the security just to here this:

Inserted Video
  • #98,651
  • Jul 15, 2011 2:30pm Jul 15, 2011 2:30pm
Quoting supremeChaos
nice music, but no pocket calculator like in the prior video
Have you got some juicy Philippines rhythmes to present us SC?

Dont be shy
  • #98,652
  • Jul 15, 2011 2:35pm Jul 15, 2011 2:35pm
Any1 up with this IB?
i do see some PPZ..though..
still thinking if it strikes my brain cord to go for this..

with the trend.
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  • #98,653
  • Jul 15, 2011 2:43pm Jul 15, 2011 2:43pm
Quoting decentchap
Hi Floppy, I am a UK based trader who follows similar stratergy to yours...Any guidance from your part in reagards to your trade managment and exits in general will be much apriciated.
Hi Decent Chap, we're in the same boat here. FXpro is my broker of choice for charting, and I too start my analysis at 22:00, scanning around 30 pairs.

As for trade management, it's something I'm also trying to refine and will share my thoughts as I develop. (See below)

Quoting Adilius07
Thank you very much...
Hi Adi, to put in bluntly;

- SL end of PA bar.
- Move to break even if a descent gap emerges 25-30 pips for example. I am not going to let this profit stop me out for a loss.
- Option 1 Scale out if there is obvious traffic in the way (My weekly nzdcad way back is a good example) 50%, 25%, 25% I think it was. I have also used 70% off, leave 30%. (In some ways this is 70% rationale, 30% hope).
- Option 2 full profit at obvious PPZ or area of traffic.
- Option 3 full profit at fixed R:R min 1R. The rationale being that I can trade again, for free. With a good strike rate this should be sustainable
- There is no one glove fits all.

I am learning and refining much like yourself. 6-7 months in, I am still a newbie and part of an educational process.

I have posted too much already, I need to give J16 his thread back!

T
  • #98,654
  • Jul 15, 2011 2:45pm Jul 15, 2011 2:45pm
Quoting J.W. Holmes
Hmmm, I tried to use your calculator and it didn't produce a level for me

In all non-seriousness, I am heading out to Las Vegas in a few hours (wedding anniversary celebration). If anyone would like me to double their trading account. Simply paypal it to me and choose either black or red, it's like almost 50/50 Have a good weekend all.
yeah but have you never heard of the 50:50:90 rule ???
...if there is a 50:50 chance of being correct there is a 90% probability of getting it wrong!

lol

jon
PATIENCE... DISCIPLINE
  • #98,655
  • Jul 15, 2011 2:52pm Jul 15, 2011 2:52pm
Quoting 5.25
Hi Adi, to put in bluntly;

- SL end of PA bar.
- Move to break even if a descent gap emerges 25-30 pips for example. I am not going to let this profit stop me out for a loss.
- Option 1 Scale out if there is obvious traffic in the way (My weekly nzdcad way back is a good example) 50%, 25%, 25% I think it was. I have also used 70% off, leave 30%. (In some ways this is 70% rationale, 30% hope).
- Option 2 full profit at obvious PPZ or area of traffic.
- Option 3 full profit at fixed R:R min 1R. The rationale being that I can trade again, for...
Thanks T, I have almost the same options for my trades. (2 and 3)
I need better, more picky entries I guess. Thanks!
  • #98,656
  • Jul 15, 2011 2:59pm Jul 15, 2011 2:59pm
last candle: almost doji
shows indecision
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  • #98,657
  • Jul 15, 2011 3:13pm Jul 15, 2011 3:13pm
For those of you who trade using the daily, how do you fine tune your entry? When do you choose an entry spot and do you look at the shorter time frames at all?
What is any ocean but a multitude of drops?
  • #98,658
  • Jul 15, 2011 3:33pm Jul 15, 2011 3:33pm
Quoting Greenhaze
Have you got some juicy Philippines rhythms to present us SC?Dont be shy
hahah, i'll find one that i like.
.....hey the (guys in the) videos u posted arent (made) from Poland
  • #98,659
  • Jul 15, 2011 4:01pm Jul 15, 2011 4:01pm
Quoting AvanishDemo

u Americans are lucky!
i just love that city..im jealous...lol
Happy Weekend Jacob n others!!
Pfff.... Vegas is fun, but I was reading the other day that about 8 years ago Hong Kong passed Vegas in dollars gambled and now does over 5 times as much as Vegas. I wish I could drive to HK like you guys on the other side of the pond
  • #98,660
  • Jul 15, 2011 5:09pm Jul 15, 2011 5:09pm
Quoting gungriffin
Pfff.... Vegas is fun, but I was reading the other day that about 8 years ago Hong Kong passed Vegas in dollars gambled and now does over 5 times as much as Vegas. I wish I could drive to HK like you guys on the other side of the pond
he'd have to drive some days and float abit too
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