james16 Chart Thread | Page 5083 | 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

  • #101,641
  • Sep 14, 2011 6:24am Sep 14, 2011 6:24am
Quoting joelcf
Actually, that would be those moving real money. In this case, in reaction to a news event. Not people trying to piggyback onto moves based on bar patterns and basic support and resistance.
grin

my order stopped the market! yarr...
  • #101,642
  • Sep 14, 2011 6:29am Sep 14, 2011 6:29am
Quoting joelcf
Actually, that would be those moving real money. In this case, in reaction to a news event. Not people trying to piggyback onto moves based on bar patterns and basic support and resistance. Which is what makes your other comments so amusing.

I think your problem here stems from presuming to know me, how I trade and what I do or dont know.




I had no problem with his trade. In fact, I'm pretty sure I even called it a good trade. He just took exception when I pointed out that his posthoc explanation was off base.

At which point he decided to give...
You hit the nail on the head with that last part.
I have quietly sat here (which surprised even me) for a few days and seen how IFY has been preaching on this board. It was obviously the build up to his masterpiece of "Making 50% of his equity" in a few minutes, with only a 2% risk on 1 min charts".

Perhaps we should pass the hat around or maybe he doesn't need it as no doubt he will be taking tuition fees off of the millions of people who PMed him this morning. LOL

I also noted how he was saying " I am willing to help out on this board" as if anyone had asked him to.
In my mind, it was self inflation for a hidden agenda.
  • #101,643
  • Sep 14, 2011 6:32am Sep 14, 2011 6:32am
Quoting mmikemj
Hi Boys and Girls,
I'm one of the newbies here , been around 4 weeks or so, I come from trading shorter time frames, so its taken a week or two to get over the cultural shock of Daily and Weekly.
My first week was a shambles, with beginning to learn the methods, and adjusting to the time frames, and reading and reading.
had a couple of nice weeks now,, and beginning to enjoy daily and weekly, (although I sometimes cheat and go to 4h )
I seem to be reaping in better rewards than when I traded shorter time frames, and I now have time to breath...

Hi and welcome.

Sounds like you have got your head screwed on there.

Happy trading.
  • #101,644
  • Sep 14, 2011 6:45am Sep 14, 2011 6:45am
Quoting snowly
grin

my order stopped the market! yarr...
plz sell me EA of market stop
When you have to shoot, shoot. Dont talk.
  • #101,645
  • Sep 14, 2011 7:02am Sep 14, 2011 7:02am
Quoting joelcf
plz sell me EA of market stop


Can we also have a rewind button?
  • #101,646
  • Sep 14, 2011 8:16am Sep 14, 2011 8:16am
Quoting mmikemj
Hi Boys and Girls,
I'm one of the newbies here , been around 4 weeks or so, I come from trading shorter time frames, so its taken a week or two to get over the cultural shock of Daily and Weekly.
My first week was a shambles, with beginning to learn the methods, and adjusting to the time frames, and reading and reading.
had a couple of nice weeks now,, and beginning to enjoy daily and weekly, (although I sometimes cheat and go to 4h )
I seem to be reaping in better rewards than when I traded shorter time frames, and I now have time to breath...
Hey Mike

Welcome bud, glad to hear you are seeing improvement. Be sure to post up with questions when you have them.

Best
Mike
  • #101,647
  • Sep 14, 2011 8:23am Sep 14, 2011 8:23am
Quoting teemo
Too bad to wake up to another one of these arguments. When it's all over I think everyone will realize that both sides are saying the same thing. Ifmyante, Emene, Kenny..etc. are following the same or similar enough concepts. Besides a few different twists on trading methodology (Imbalances) the only difference is in the TF's. Why is this such a problem guys?? James16's favorite trades are taken on a 2000 tick chart!!! I have been told by Mike and the man himself! I suppose this is the problem with forums sometimes.

Right on bud. So much of this is literally the exact same stuff, that I am still kinda scratching my head over here.

Let's right the ship back to the way the thread is 99% of the time.

Thanks Teemo

Mike
  • #101,648
  • Sep 14, 2011 8:27am Sep 14, 2011 8:27am
Quoting fascist
Hi guys, i would like to know .. when you take pinbar trades and enter at the break of the high/low of the pin bar..where do you place your SL?
Hey F

I generally put my Stop loss below(on bullish bar) or above (on a bearish bar). This gives me room to use to reduce my risk and manage the trade. Another thing to remember is a bar is not invalidated until the low(on bullish bar) or high (on bearish bar) gets taken out. Just like a bar is not valid till it breaks. There are various other ways to place stop loses. For example sometimes I use the left eye of a pinbar, or a minor PPZ or BRN etc to start my stop at. This allows for a bigger position size. That's a good thing to track with your trades, various stop loss placements that might be comfortable

Hope that helps
Mike
  • #101,649
  • Sep 14, 2011 9:15am Sep 14, 2011 9:15am
Hi folks,

I need some help, after spending 1000 of hours learning to trade, i can still not trade consitency.

I know how to trade this method, i now PA, i know SR, i know we look for PPZ, divergence, BRN, fibo etc etc...
but after spending so much hours i understand the method or system you trade is relevant for only a (small) part of trading.

I trade a small account on the 4h. Daily is a problem because of sleeping time (europe), and i have only fxpro what closes at 11 pm, but thats a little too late for me. Maybe other people in europe have another broker feed for charts that have an earlier close of the daily chart?

What can i do on this, its something with overtrading + small account + patience. But how can i learn this or inprove this? Are there some tricks?

I absolutly will succeed in this business and will spend another 1000 hours if needed, no problem.

More people with this problem?
  • #101,650
  • Sep 14, 2011 9:22am Sep 14, 2011 9:22am
Hi T,

I think Oanda Daily (MT4) will be closing at 6 am for where you are.




Quoting Thierry
Hi folks,

I need some help, after spending 1000 of hours learning to trade, i can still not trade consitency.

I know how to trade this method, i now PA, i know SR, i know we look for PPZ, divergence, BRN, fibo etc etc...
but after spending so much hours i understand the method or system you trade is relevant for only a (small) part of trading.

I trade a small account on the 4h. Daily is a problem because of sleeping time (europe), and i have only fxpro what closes at 11 pm, but thats a little too late for me. Maybe other people in europe...
  • #101,651
  • Sep 14, 2011 9:35am Sep 14, 2011 9:35am
It's a little disappointing to see these kind of arguments in this thread. For the sake of the thread and out of respect for Jim himself, I think the conversation should be carried out through PM's..Both methods are very similar in that they both make a lot of money (irregardless of time frame or pair) under the hands of the experience. Jim trades the tick charts on futures...IF has been very helpful to many in this forum and I have also learned many valuable lessons from IF out of his kindness to teach, so people shouldn't jump to conclusion too soon...
  • #101,652
  • Sep 14, 2011 9:38am Sep 14, 2011 9:38am
Quoting Thierry

What can i do on this, its something with overtrading + small account + patience. But how can i learn this or inprove this? Are there some tricks?

I absolutly will succeed in this business and will spend another 1000 hours if needed, no problem.

More people with this problem?
Hey T

Yes over trading is probably most peoples downfall. I always suggested to people to try to give themselves 2-3 bullets a month. If you use them you shut down. Not only will this make you focus on not wasting them, in the times you do , then you have to wait until a new month starts before you can use them again. So if day one of month one occurs and you take 3 trades, irregardless of the outcome you are done till the next month. Most people are trying to take their small accounts and trade it to millions and of course this will just never work. All the hours of learning and putting in work are no good if we don't know how to apply them. This gives us some structure and start to show us what being patient can do. Of course most peoples expectations and goals are also not in a 'healthy' place, and this leads to these problems from the get go.

Hope that helps
Mike
  • #101,653
  • Sep 14, 2011 9:38am Sep 14, 2011 9:38am
Quoting Adilius07
Hi T,

I think Oanda Daily (MT4) will be closing at 6 am for where you are.
Thanks Adi,

That means wake up an half hour earlier than i do now. But maybe its worth it, will look for this.
  • #101,654
  • Sep 14, 2011 9:41am Sep 14, 2011 9:41am
Quoting Thierry
Thanks Adi,

That means wake up an half hour earlier than i do now. But maybe its worth it, will look for this.
Also if you can't handle daily for whatever reason, just go up another timeframe to weekly. At least for now while you figure things out.

A big error you see is people try to fit trading into their lives when they have time. So you get the person that works from 7am -7pm est, comes home and says "oh i'll just scalp the yen pairs".

If I was in your spot I would trade weekly charts if I didn't have the time for daily etc

Best
Mike
  • #101,655
  • Sep 14, 2011 9:43am Sep 14, 2011 9:43am
Quoting biDc
It's a little disappointing to see these kind of arguments in this thread. For the sake of the thread and out of respect for Jim himself, I think the conversation should be carried out through PM's..Both methods are very similar in that they both make a lot of money (irregardless of time frame or pair) under the hands of the experience. Jim trades the tick charts on futures...IF has been very helpful to many in this forum and I have also learned many valuable lessons from IF out of his kindness to teach, so people shouldn't jump to conclusion...
Hi biDc

You are spot on there - lets get back to the basics of this thread and what it is good at, ie discussion..support..charts etc. The approaches of IFY and J16 both have their merits but its up to the individual trader what heshe trades and what we are comfortable with. Meshing J16 with Supply and Demand approach could be a powerful strategy and to be fair to IFY he does say that the higher Tfs should be mastered first before moving down which is in agreement with one of the central planks of J16 methodology.

Just my 2 cents,

Kal
  • #101,656
  • Sep 14, 2011 9:46am Sep 14, 2011 9:46am
Flagging or reversal? Will be looking for bullish PA at 0.86



http://www.hotstockmarket.com/image/...600/height/291
  • #101,657
  • Sep 14, 2011 9:49am Sep 14, 2011 9:49am
Quoting mbqb11
Hey T

Yes over trading is probably most peoples downfall. I always suggested to people to try to give themselves 2-3 bullets a month. If you use them you shut down. Not only will this make you focus on not wasting them, in the times you do , then you have to wait until a new month starts before you can use them again. So if day one of month one occurs and you take 3 trades, irregardless of the outcome you are done till the next month. Most people are trying to take their small accounts and trade it to millions and of course this will just never...
Great advise Mike, as always!
Will use this advise and take less, less trades than i do now.
I think of back to demo for a while and wait for a bigger accountsize.
The expectations thing is also hard, but i understand 5% a month is fabulous. But with a 2000$ account we want more, i think that is the biggest problem.
I have to understand that we not need 50 trades a month to make money.
  • #101,658
  • Sep 14, 2011 9:49am Sep 14, 2011 9:49am
Quoting Kalbar
Hi biDc

You are spot on there - lets get back to the basics of this thread and what it is good at, ie discussion..support..charts etc. The approaches of IFY and J16 both have their merits but its up to the individual trader what heshe trades and what we are comfortable with. Meshing J16 with Supply and Demand approach could be a powerful strategy and to be fair to IFY he does say that the higher Tfs should be mastered first before moving down which is in agreement with one of the central planks of J16 methodology.

Just my 2 cents,

Kal

I have to say though, that the j16 approach when done right is exactly using supply and demand, at least that's what we are trying to show. This is what I do day in and day out.


Best
Mike
  • #101,659
  • Sep 14, 2011 9:51am Sep 14, 2011 9:51am
Quoting mbqb11
Also if you can't handle daily for whatever reason, just go up another timeframe to weekly. At least for now while you figure things out.

A big error you see is people try to fit trading into their lives when they have time. So you get the person that works from 7am -7pm est, comes home and says "oh i'll just scalp the yen pairs".

If I was in your spot I would trade weekly charts if I didn't have the time for daily etc

Best
Mike
Thanks,
you are right, i am working at the london session (not at wednesday) an can only trade in the evening. But that may not a reason for overtrading, there is no reason for
  • #101,660
  • Sep 14, 2011 9:51am Sep 14, 2011 9:51am
Quoting Thierry
Great advise Mike, as always!
Will use this advise and take less, less trades than i do now.
I think of back to demo for a while and wait for a bigger accountsize.
The expectations thing is also hard, but i understand 5% a month is fabulous. But with a 2000$ account we want more, i think that is the biggest problem.
I have to understand that we not need 50 trades a month to make money.
You are quite right T, it's a tough spot for a lot of people. But if one takes on larger risk they have to accept that larger risk. I am in the camp that if your account is small to still build it logically and add to it over time. Compounding is a powerful thing. The harsh reality for many(many new reading this right now) is that you are not going to turn your 2k account to richs over night, at least not with heavy risk that will 95% lead to heavy failure. So then you either have to accept that, and assume that risk, or try a different way.

It's all part of the learning curve for most

Keep at it bud
Mike
50 traders viewing now