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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

  • #99,561
  • Jul 31, 2011 9:56am Jul 31, 2011 9:56am
And last but not least - what might happen if this goes up much further?
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Anything can happen.
  • #99,562
  • Jul 31, 2011 9:58am Jul 31, 2011 9:58am
Quoting Atom
This is to James and mike mainly,
I ended this month with 19% gain! This is my first profitable month, thanks to you guys and all the participants in this thread.
I would like to add that I trade with 1:15 leverage which I even do not use fully. However, I feel that still I have problem with "revenge" trading. It is getting much better...but still needs to be worked on.

Thanks again
Nice going!

Demo or live?
Anything can happen.
  • #99,563
  • Jul 31, 2011 10:02am Jul 31, 2011 10:02am
  •  Atom
  • | Joined Jul 2010 | Status: An atom..no more..probably less! | 44 Posts
Quoting ddinnov
Nice going!

Demo or live?
live but small account ($650)
  • #99,564
  • Jul 31, 2011 10:12am Jul 31, 2011 10:12am
HI guys
Can anyone knows the thread regarding FTA? Thanks
Sohail Riaz
  • #99,565
  • Jul 31, 2011 10:27am Jul 31, 2011 10:27am
Quoting featurelion
HI guys
Can anyone knows the thread regarding FTA? Thanks
Sohail Riaz
FTA = first trouble area. The first area that price is likely to stop and reverse at. It may not reverse, it often will just stall for a bit before carrying on. It depends on how strong the level it's heading into.

Take this AUD/JPY chart for instance. Say I'm looking to go long at around 84.00, I see the FTA as around 85.00 - the first blue shaded rectangle above. You can see clearly that it's a strong area because of all the resistance and support it has provided recently.

So that for me is the FTA if I take this trade.
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Anything can happen.
  • #99,566
  • Jul 31, 2011 10:32am Jul 31, 2011 10:32am
Quoting ddinnov
FTA = first trouble area. The first area that price is likely to stop and reverse at. It may not reverse, it often will just stall for a bit before carrying on. It depends on how strong the level it's heading into.

Take this AUD/JPY chart for instance. Say I'm looking to go long at around 84.00, I see the FTA as around 85.00 - the first blue shaded rectangle above. You can see clearly that it's a strong area because of all the resistance and support it has provided recently.

So that for me is the FTA if I take this trade.
Thanks Brother
  • #99,567
  • Jul 31, 2011 11:34am Jul 31, 2011 11:34am
Quoting featurelion
Thanks Brother
No worries. Thinking about it,an FTA on that pair would probably be around 84.50. It doesn't show in the daily chart but Yen pairs seem to treat .50 as a round number.
Anything can happen.
  • #99,568
  • Jul 31, 2011 11:50am Jul 31, 2011 11:50am
Quoting featurelion
.. regarding FTA?..
Sohail Riaz
hello Sohail,
Pinbar's abbreviation list
  • #99,569
  • Jul 31, 2011 11:55am Jul 31, 2011 11:55am
Quoting Atom
This is to James and mike mainly,
I ended this month with 19% gain! This is my first profitable month, thanks to you guys and all the participants in this thread.
I would like to add that I trade with 1:15 leverage which I even do not use fully. However, I feel that still I have problem with "revenge" trading. It is getting much better...but still needs to be worked on.

Thanks again
Congrats Atom, great to hear you had your first profitable month. There will no doubt me more ups and downs, but it's nice to start to see that "light"

Continued success bud

Mike
  • #99,570
  • Jul 31, 2011 11:58am Jul 31, 2011 11:58am
Quoting Atom
This is to James and mike mainly,
I ended this month with 19% gain! This is my first profitable month, thanks to you guys and all the participants in this thread.
I would like to add that I trade with 1:15 leverage which I even do not use fully. However, I feel that still I have problem with "revenge" trading. It is getting much better...but still needs to be worked on.

Thanks again
That is awesome! I also had my first profitable month (after 4 losing monthns).
3 trades only all winners!
I hope it was not just luck, let's make it happen!
  • #99,571
  • Jul 31, 2011 12:01pm Jul 31, 2011 12:01pm
Quoting Adilius07
That is awesome! I also had my first profitable month (after 4 losing monthns).
3 trades only all winners!
I hope it was not just luck, let's make it happen!
well done guys i also had a cracking month, 9 winners and 1 loser, the loser did turn to go my way in the end, but thats trading.
  • #99,572
  • Edited 12:24pm Jul 31, 2011 12:12pm | Edited 12:24pm
For some reasons I thought about restart trading (I was trading in a demo account for about 8 months... I tried scalping with some mentors but they didn't provide me enough infos... so I ended up guessing the moves and this is no good... well maybe I'm just a bit retarded... but I didn't got any precise infos)...
I read this thread, and watch the video inside it here
http://www.forexfactory.com/showthre...98#post4823698

and wondering if restart trading is worth something...
  • #99,573
  • Jul 31, 2011 12:46pm Jul 31, 2011 12:46pm
Can some of the experienced traders with J16 confirm or deny this for me. I read in another PA thread that August is usually a very bad month for trading PA and trades are usually all out of whack. If you guys can check your logs and compare some averages to other months, that would be amazing. Thanks in advance.

Tod
  • #99,574
  • Jul 31, 2011 1:20pm Jul 31, 2011 1:20pm
You are correct. Two is not enough for me even. I like to see 3-4 or even more.

Scott

Quoting benem
It lacks of confluence.....you must have at least two elements except the PA in my opinion.
  • #99,575
  • Jul 31, 2011 1:23pm Jul 31, 2011 1:23pm
That is GREAT! It was not luck; it was discipline! Question is... can you maintain it? That will be your next hurdle.

Scott

Quoting Adilius07
That is awesome! I also had my first profitable month (after 4 losing monthns).
3 trades only all winners!
I hope it was not just luck, let's make it happen!
  • #99,576
  • Jul 31, 2011 1:36pm Jul 31, 2011 1:36pm
Quoting thermobee
Can some of the experienced traders with J16 confirm or deny this for me. I read in another PA thread that August is usually a very bad month for trading PA and trades are usually all out of whack. If you guys can check your logs and compare some averages to other months, that would be amazing. Thanks in advance.

Tod
im not one of the experienced traders, but, i trade august the same as always myself.
  • #99,577
  • Jul 31, 2011 2:41pm Jul 31, 2011 2:41pm
Quoting thermobee
Can some of the experienced traders with J16 confirm or deny this for me. I read in another PA thread that August is usually a very bad month for trading PA and trades are usually all out of whack. If you guys can check your logs and compare some averages to other months, that would be amazing. Thanks in advance.

Tod
hardly the best month in the world, but...

many whipsaws; usually.
  • #99,578
  • Jul 31, 2011 2:46pm Jul 31, 2011 2:46pm
Quoting snowly
hardly the best month in the world, but...

many whipsaws; usually.
....
Hero calls followed by margin calls...
  • #99,579
  • Jul 31, 2011 3:07pm Jul 31, 2011 3:07pm
Quoting stark1
You gotta love 'em! Any thoughts on managing it? TP, next TAs, etc? I've got my stop at 1.3072 (BE), looking for 1.31 to hold as support...
I would be careful with this one. I placed a trade on this and unfortunately moved my stop too quickly. As such I was stopped out at BE. That having been said my full TP on this was at 1.3090. For me there is too much uncertainty with all of the traffic above and the strong down trend that this one is in.

Ryan
  • #99,580
  • Jul 31, 2011 4:11pm Jul 31, 2011 4:11pm
  •  Atom
  • | Joined Jul 2010 | Status: An atom..no more..probably less! | 44 Posts
Quoting mbqb11
Congrats Atom, great to hear you had your first profitable month. There will no doubt me more ups and downs, but it's nice to start to see that "light"

Continued success bud

Mike
Indeed," it is nice to start to see that light".
Thank you
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