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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

  • #99,901
  • Aug 4, 2011 12:46pm Aug 4, 2011 12:46pm
Quoting aserbfx
ym need to find support here. otherwise it is in the ass.
wow, that chart looks terrible
NFP tomorrow/later
  • #99,902
  • Aug 4, 2011 12:48pm Aug 4, 2011 12:48pm
Quoting aserbfx
ym need to find support here. otherwise it is in the ass.
ouch i dont like that chart
  • #99,903
  • Aug 4, 2011 12:50pm Aug 4, 2011 12:50pm
If the nfp comes out bad I don't know what is gonna happen tomorrow.

There will be fireworks either way.
  • #99,904
  • Aug 4, 2011 12:58pm Aug 4, 2011 12:58pm
wow, look at the daily bar forming for today on audjpy
  • #99,905
  • Aug 4, 2011 1:08pm Aug 4, 2011 1:08pm
Quoting fx trader-
same here buddy even me very badly hope we get some good trades ahead .

regards,
kunal
same here
  • #99,906
  • Aug 4, 2011 1:09pm Aug 4, 2011 1:09pm
  •  Atom
  • | Joined Jul 2010 | Status: An atom..no more..probably less! | 44 Posts
Quoting supremeChaos
i hate it.
anyone turning 10 next year?
  • #99,907
  • Aug 4, 2011 1:30pm Aug 4, 2011 1:30pm
not raining on the party but i have a question.

i see a lot of people losing on 4 hour.

I assume that all of you have gone thru the full demo process outlined in post 1?

I also assume that if your on 4 hour you have been doing this a while since to be on 4 hour means you have spent 3 to 6 months trading succesfully on daily.

Bottom line is this.

2011 makes 29 years ive been doing this and i can say with virtual certainty that if you dont follow the outline (or something similar) your going to fail.

I know a lot of you demo 4 hour along with daily AND THATS FINE but please dont trade 4 hour with real money until YOU HAVE EARNED THE RIGHT TO DO SO.

If i didnt care about all of you i wouldnt take the time to shake your tree once in a while.

Jim
  • #99,908
  • Aug 4, 2011 1:33pm Aug 4, 2011 1:33pm
remember folks if you enter a pin bar before it breaks you just entered a bar. a pin bar is not a pin bar until it is broken.

entering early off of a pivot is fine but thats an acquired talent.

that approach like everything else should go thru a full demo process.

jim
  • #99,909
  • Aug 4, 2011 1:41pm Aug 4, 2011 1:41pm
show us a chart or two of examples dd.

jim

Quoting ddinnov
I had my eye on this one as well and got taken out for +1R yesterday. I love those massive weekly/monthly levels. They're pretty much the only levels I look at now.
  • #99,910
  • Aug 4, 2011 1:43pm Aug 4, 2011 1:43pm
well im gonna tell the truth.

i get the biggest smile on my face when people say stuff like this.

i aint nothing special.

im just a guy thats been trading for roughly 29 years.

how could i not be pretty good at it by now.

lol

Quoting featurelion
James sir you are great
  • #99,911
  • Aug 4, 2011 1:47pm Aug 4, 2011 1:47pm
not yet but its coming.

i still dont post them live ad because i flat out worry myself to death that new people will still crash and burn.

jim

Quoting Adilius07
WOW! This start to look interesting! So in the group peple can see trades before they happen? That one fact worth joining. Not because one could use those calls to trade (I don't think people are so lazy that don't even wish to make their OWN analysis) but to build confidence. If I see that someone can really "predict" price movement with the method I would really gain confidence in the method. And then all I need to do is just make myself to comply with the method. That's all.

Don't get me wrong but analysis of past price action of course is...
  • #99,912
  • Aug 4, 2011 1:50pm Aug 4, 2011 1:50pm
great question.

maybe the best question.

i never ever ever take a full bar loss. in fact its very rare for me to take anything more than 30 to 50 pips.

i try to position myself with a solid s/r area so i have an intelklegent place to get out if it does as you refer.

its more about location than it is a partricular bar.

jim

Quoting J-r
Hi all,

I understand that risk-reward doesn't really come into it when trading purely A-grade setups, and James has mentioned that he's quick to lock in 30-40 pips and move stop to BE in order to take some profit and protect capital. All good!

But... what happens when price moves far enough to trigger your entry and then reverses into draw-down? How far do you let it go against you, say if you're positioned with a 150-pip stop and you were originally targeting what you thought was a guaranteed 50-odd pips?

Thanks
JR
  • #99,913
  • Aug 4, 2011 1:51pm Aug 4, 2011 1:51pm
well remember they are not intended to show trades.

I AM MUCH MORE CONSERVATIVE THAN THAT.

its about getting so good at predicting price movement that when you do trade the odds of losing are virtually zero.

Quoting Sgrb1
I look at your prediction charts James, and I think to myself on eveyone one - 'I was convinced it was going there too, but didn't take it because the FTA is so close'.

My concern would be that I wouldn't want to move to BE at these levels, as they're too close for risk of being stopped on a small retracement. And halving my position size at the levels wouldn't seem worth it, if I had an initial full bar stop. I sure wouldn't want to exit the trade if I think there's a possibility of it continuing onwards. Is there any general advice you could...
  • #99,914
  • Aug 4, 2011 1:55pm Aug 4, 2011 1:55pm
Quoting james16
not raining on the party but i have a question.

i see a lot of people losing on 4 hour....

If i didnt care about all of you i wouldnt take the time to shake your tree once in a while.

Jim
And it's really appreciated Jim. No excuses on my EUR/AUD trade - I messed up and *hoped* As soon as I came to my senses I bailed for a small loss - what you teach us is going to happen is pretty much always what happens...

Good to have you back with us.
When the going gets weird, the weird turn pro.
  • #99,915
  • Edited 2:35pm Aug 4, 2011 1:55pm | Edited 2:35pm
Quoting james16
well im gonna tell the truth.

i get the biggest smile on my face when people say stuff like this.

i aint nothing special.

im just a guy thats been trading for roughly 29 years.

how could i not be pretty good at it by now.

lol
You are complete Down to earth kind of guy James..

people are so greedy,once they are set with their lives n they ditch others js to
STAY AHEAD...

but here its a complete different atmosphere...where u n ur team has strived hard to explain the same Trading concepts again n again n again..

i have learnt a lot from u guys n other 10+ vouchers..

its unusual but so awesome that people whom we dont even knw 'personally',whom we have never evn met in front will help others so much..

HATS OFF SIR!!!! :
  • #99,916
  • Aug 4, 2011 1:57pm Aug 4, 2011 1:57pm
thank you my friend.

Quoting stark1
And it's really appreciated Jim. No excuses on my EUR/AUD trade - I messed up and *hoped* As soon as I came to my senses I bailed for a small loss - what you teach us is going to happen is pretty much always what happens...

Good to have you back with us.
  • #99,917
  • Aug 4, 2011 2:00pm Aug 4, 2011 2:00pm
VERY KIND OF YOU AD.

i appreciate it.

jim

Quoting AvanishDemo
You are complete Down to earth kind of guy James..

people are so greedy,once they are set with their lives n they ditch others js to
STAY AHEAD...

but here its a complete different atmosphere...where u n ur team has strived hard to explain the same Trading concepts again n again n again..

i have learnt a lot from u guys n other 10+ vouchers..

its unusual but so awesome that people whom we dont even knw 'personally',whom we have never evn met in front will help others so much..

HATS OFF SIR!!!! :
  • #99,918
  • Aug 4, 2011 2:09pm Aug 4, 2011 2:09pm
Im getting out of the heat for a week starting tomorrow and heading for my favorite place, Northern New Mexico.

While im gone im sure we will reach 100,000 posts.

I want to say thanks to all that have made this a fun and magical place the last 6 plus years.

Words cannot describe what all of you have meant to me.

I really do love all of you.

See you around 8/15 or so.
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  • #99,919
  • Aug 4, 2011 2:10pm Aug 4, 2011 2:10pm
Quoting james16
show us a chart or two of examples dd.

jim
With pleasure!

This is one I was looking at on AUD/JPY. I saw 84.00 as the weekly PPZ which lined up with a 61.8 ret.
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Anything can happen.
  • #99,920
  • Aug 4, 2011 2:14pm Aug 4, 2011 2:14pm
Hi all

Can anyone help rationalise this one?

I've posted a before and after on the 4h and what could be a BEOB on the daily (Yet to close).

I marked out 42.19 as an area to watch for PA in the morning then watched the charts from work. Support turning to resistance, resistance turning to support, price respecting trendlines etc. All good. Then price hits 42.19 (Area I marked) and we have a MASSIVE sell off virtually to the pip! Can anyone explain why? I was expecting price to go short, just not so aggressively.

I was tempted to enter on the break of the 1h BEOB (Jim may cringe here ) but didn't (Jim ). Neither did I enter the 3h BEOB and 4h BEOB (Oanda). I'm still uneasy trading Bearish/Bullish engulfing bars as price has moved significantly in my direction BEFORE entering.

In the end I just watched this fall wishing I was in it. Now my eyes are on it's daily close. Having said that, it's still a Bearish engulfing

Thanks
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