james16 Chart Thread | Page 5011 | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

Where can I learn more about Price Action like those in James16 charts? 9 replies

Attachments: james16 Chart Thread
Exit Attachments

james16 Chart Thread

  • #100,201
  • Aug 9, 2011 6:22am Aug 9, 2011 6:22am
Quoting Kalbar
as Mike says a fund manager friend has lost *) 80m in 3 days then that is far too volatile for an inexperienced trader like myself.
That doesnt really mean much in isolation though. Long eq funds got slaughtered, and were always going to. Short fixed rate books had a field day. Directional and non-directional option traders made packets.

Whether George Soros or Mark McGoldrick made or lost money shouldnt worry you... just your charts

If you arent comfortable with it, that's cool and you are wise to stay out, but I'd at least recommend paper trading it. Volatility is our best friend. Traders wait years for markets like this.

Quoting Kalbar
Also talk of intervention by BOJ and SwissCB is making things uncertain right now.
*shrug* that's some of the easiest money out there.
When you have to shoot, shoot. Dont talk.
  • #100,202
  • Aug 9, 2011 7:15am Aug 9, 2011 7:15am
Quoting jarroo
Let's keep the 4 Hour closes below the 1.7450ish Weekly LCS level . .and your looking good, GH . . You gotta like the size of that PB and its location. . .
Hiya, the weekly bar hasn't closed yet so are you still looking to trade a 4hr bar in the meantime at that level ? A failing 4 hr bar could easily negate that weekly bar by Fridays close
  • #100,203
  • Aug 9, 2011 7:30am Aug 9, 2011 7:30am
Quoting Greenhaze
Mr. Ben has invaluable talent of sending dollar down the drain so lets wait to 19:15 BST.
me says mr ben won't say crap and usd will shoot up; but won't put a dime till I don't hear.
  • #100,204
  • Aug 9, 2011 8:07am Aug 9, 2011 8:07am
Quoting joelcf
That doesnt really mean much in isolation though. Long eq funds got slaughtered, and were always going to. Short fixed rate books had a field day. Directional and non-directional option traders made packets.

Whether George Soros or Mark McGoldrick made or lost money shouldnt worry you... just your charts

If you arent comfortable with it, that's cool and you are wise to stay out, but I'd at least recommend paper trading it. Volatility is our best friend. Traders wait years for markets like this.



*shrug* that's some of the easiest money...
yes thanks Joel.

My point wasn't you have to stay out. I certainly am not. My point is YOU control what YOU do. So no one has to force you to do a thing.

Best
MIke
  • #100,205
  • Aug 9, 2011 9:01am Aug 9, 2011 9:01am
[quote=jarroo;4853585]
Quote
Let's keep the 4 Hour closes below the 1.7450ish Weekly LCS level . .and your looking good, GH . . You gotta like the size of that PB and its location. . .
It's very early to say it,till the close of mothly candle it's a long way...,but for me it seems just a back in range market.
Attached Image (click to enlarge)
Click to Enlarge Name: enzm.gif Size: 23 KB
Nothing personal,just business
  • #100,206
  • Aug 9, 2011 10:42am Aug 9, 2011 10:42am
man, if ben keeps pat this thing is gonna explode tonight...

everyone seems to have bet on qe
  • #100,207
  • Aug 9, 2011 11:32am Aug 9, 2011 11:32am
Quoting snowly
man, if ben keeps pat this thing is gonna explode tonight...

everyone seems to have bet on qe
Is that why there seems to be opportunities on almost every single pair? I am really confused right now, there seems to be a lot of really nice pinbars all over the place.
  • #100,208
  • Aug 9, 2011 11:38am Aug 9, 2011 11:38am
Quoting thermobee
Is that why there seems to be opportunities on almost every single pair? I am really confused right now, there seems to be a lot of really nice pinbars all over the place.
hmmm what to do, trade them all, or just pick one which looks the best ?
  • #100,209
  • Aug 9, 2011 11:43am Aug 9, 2011 11:43am
Quoting deankenny21
hmmm what to do, trade them all, or just pick one which looks the best ?
When things can flip very quickly exposure is very important to me. Of course everyone has different risk tolerances, but if you risk say 2% like I do and you take 2 of them that are correlated(as most things are right now) then you are effectively doubling your exposure. Not something I like to do. I never want to be over exposed to one idea too much.

Like most things it takes time to find your comfort with that, but I always get real nervous when I see someone take 4-5 pins coming off the same day. They end up being very very happy or very very sad. I prefer down the middle

Best
Mike
  • #100,210
  • Aug 9, 2011 11:48am Aug 9, 2011 11:48am
Quoting mbqb11
When things can flip very quickly exposure is very important to me. Of course everyone has different risk tolerances, but if you risk say 2% like I do and you take 2 of them that are correlated(as most things are right now) then you are effectively doubling your exposure. Not something I like to do. I never want to be over exposed to one idea too much.

Like most things it takes time to find your comfort with that, but I always get real nervous when I see someone take 4-5 pins coming off the same day. They end up being very very happy or very...
yep i know what you mean, i personally will take only one trade, im liking usdcad or euraud
  • #100,211
  • Aug 9, 2011 12:04pm Aug 9, 2011 12:04pm
Quoting mbqb11
When things can flip very quickly exposure is very important to me. Of course everyone has different risk tolerances, but if you risk say 2% like I do and you take 2 of them that are correlated(as most things are right now) then you are effectively doubling your exposure. Not something I like to do. I never want to be over exposed to one idea too much.

Like most things it takes time to find your comfort with that, but I always get real nervous when I see someone take 4-5 pins coming off the same day. They end up being very very happy or...
I risk 2% as well and what I was thinking here, instead of 2 lots on two pairs, which might lead to over exposure, ill trade 1 lots on each pair. Reduce the gain factor but also the risk during these weird conditions.
  • #100,212
  • Aug 9, 2011 12:06pm Aug 9, 2011 12:06pm
which pairs are you people looking at most ?
  • #100,213
  • Edited 1:35pm Aug 9, 2011 12:09pm | Edited 1:35pm
Quoting mbqb11
When things can flip very quickly exposure is very important to me. Of course everyone has different risk tolerances, but if you risk say 2% like I do and you take 2 of them that are correlated(as most things are right now) then you are effectively doubling your exposure. Not something I like to do. I never want to be over exposed to one idea too much.

Like most things it takes time to find your comfort with that, but I always get real nervous when I see someone take 4-5 pins coming off the same day. They end up being very very happy or very...
what Mike said x 100. Everything is one trade right now, so... 1 position. Or more, with smaller sizes if you prefer.

also, be aware that it's probably a very thin market; beside us, the retail folks, probably most stay pat or have minuscule orders. Personally, I stay pat. Anyway, 1h left till things clear up - beside scalping, there ain't much one can do.

gbp/usd apparently broke 1.62 - 1.625 area, but it'd be nuts to buy usd 1h ahead of fomc. Also, eur/gbp broke 0.875. Ok, gbp has problems(no clue why - manufacturing was obviously poor since last week pmi and it's really hard to price "riots"...)

Beside that... don't see anything happening at the relevant levels and nice pins in the middle of nowhere aren't too interesting.

but anyway, if no new stimulus, this commodity rally will be very short lived.


ps - http://www.zerohedge.com/news/volume...-volumes-again

retail + algos

pps - yeah, let's trade. Took only 17 mins to load that damn page. Fed should upgrade servers or block bots...
Attached Image (click to enlarge)
Click to Enlarge Name: gbpusdH4.jpg Size: 221 KB
  • #100,214
  • Aug 9, 2011 12:21pm Aug 9, 2011 12:21pm
Quoting mbqb11
When things can flip very quickly exposure is very important to me. Of course everyone has different risk tolerances, but if you risk say 2% like I do and you take 2 of them that are correlated(as most things are right now) then you are effectively doubling your exposure. Not something I like to do. I never want to be over exposed to one idea too much.

Like most things it takes time to find your comfort with that, but I always get real nervous when I see someone take 4-5 pins coming off the same day. They end up being very very happy or very...
Hey Mike, slightly related question for you.

Will you take a trade if a correlated pair is giving an opposite signal? For example, we know Euro and cable are somewhat related. If you saw a great long setup on Euro but cable was showing bearish PA, would that affect your decision on whether to take the trade at all?

SG
  • #100,215
  • Aug 9, 2011 1:42pm Aug 9, 2011 1:42pm
boom
  • #100,216
  • Aug 9, 2011 1:42pm Aug 9, 2011 1:42pm
What do you guys think about the size of the two pinbars compared to the down move in the last few days is the panic over which the TV news and newspapers are making xD. Because i see many pinbars on the German an Italian indices.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: MAN SE ST O.N..png Size: 16 KB
Click to Enlarge Name: SAP AG O.N..png Size: 19 KB
  • #100,217
  • Aug 9, 2011 2:01pm Aug 9, 2011 2:01pm
that there's an incomplete chart

what happened at those levels? all you show is above that level action...

anything happened there previously? on weekly, daily, whatever? or is it a pin in the middle of nowhere?
  • #100,218
  • Aug 9, 2011 2:13pm Aug 9, 2011 2:13pm
Quoting john225
What do you guys think about the size of the two pinbars compared to the down move in the last few days is the panic over which the TV news and newspapers are making xD. Because i see many pinbars on the German an Italian indices.
It is better to identify an area (PPZ) where to look for a price action first and then for the pinbar (any setup bar) itself. For me the PPZ are more important than some particular bar. No PPZ, no reason to look for a perfect setup (In my case).


Quoting snowly
that there's an incomplete chart

what happened at those levels? all you show is above that level action...

anything happened there previously? on weekly, daily, whatever? or is it a pin in the middle of nowhere?
??? slightly infantile, don't you think?
Follow my trading on Twitter and FB: @pumlitch
  • #100,219
  • Aug 9, 2011 2:59pm Aug 9, 2011 2:59pm
Hi again, Today I have many candles which look like pinbars have a open and close inside previous bar and it is near to the s/r or round number or both. Some of these are of Fibonanci levels. But I'm scared of the current world situation.

http://img8.imageshack.us/img8/7530/eurcadj.gif
http://img8.imageshack.us/img8/7530/eurcadj.gif
http://img402.imageshack.us/img402/7977/eurnzd.gif
http://img854.imageshack.us/img854/9215/gbpaud.gif
http://img508.imageshack.us/img508/9231/gbpnzd.gif
  • #100,220
  • Aug 9, 2011 2:59pm Aug 9, 2011 2:59pm
http://img543.imageshack.us/img543/1160/nzdusd.gif
http://img833.imageshack.us/img833/3599/usdcadk.gif
318 traders viewing now