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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

  • #101,701
  • Sep 14, 2011 11:51am Sep 14, 2011 11:51am
Quoting supremeChaos
Hello Sir Kal,
not much trading these days as we are in the midst of a possible takeover... i mean we might relocate our house.
btw, im a wannabe too, u know

finally, a chart that is messier than mine!
i love a chart that has lots of confluence!
hey Mr.Trade Dicitionary ..wasuup dude..
hows life in phillipines man..
long time no talk...
hope all is well brotha..
keep posting..
u r a great mentor..
  • #101,702
  • Sep 14, 2011 11:53am Sep 14, 2011 11:53am
And also... I came up with this theory with my weekend Henessy btw..

One who is not addicted enough will never succed here. What me and some other people I see here almost every day - US don't "work hard" c'mon that's not work and it doesn't feel like work and never will... We are just already addicted so much that we cannot stop. Period. Don't believe me? Try to quit trading! lol. Not possible.

Now, we just need not to lose money while we are in this state (of addiction). If we blow too many accounts we will force ourselves to go through cold turkey and give up with great pain... we know this... We hope that later, when the money will begin to accumulate we will finally realize our goals and this thing we do will become BUSINESS with Passion...

P.S. I hope it's ok for me to say "we" someone will agree with me if he really takes time to think WHY he is here, all those thousand hours...

Sept 14 already and still no trades so far... oh man waiting is tough makes me think funny things....
  • #101,703
  • Sep 14, 2011 11:53am Sep 14, 2011 11:53am
I just wanted to introduce myself and say hello, I've only been trading about nine months, albeit 8/10 hours a day everyday so I've crammed quite a lot in, some good, some diabolical.

As is usually the case I've been through a fair few systems, methods, signal callers, etc, etc, etc, I first heard of the James16 thread some months ago but whatever I was doing at the time obviously seemed more important, and, at that point in time, it possibly was, as it undoubtedly increased my knowledge of S&R, price action and the like.

Anyway I've now found the thread and started reading it after everything else proved inconsistent for me, I'm currently on page 7 of 6781 pages so it'll probably take me while to catch you guys. One of the reasons for my early post i to offer, here and now, my most sincere thanks to Jim, Merlin, Diallist and all of the other valuable contributors, you probably know already that, in trading terms, you guys are life savers, but if you ever had any doubts I'm here to confirm it to be true.

Just one question, would the more experienced of you suggest that it's too early for me to join the James16 website, in other words should I get through a large chunk of the thread before considering that as my next step, or would it speed my learning by joining now?
  • #101,704
  • Edited 12:09pm Sep 14, 2011 11:57am | Edited 12:09pm
Quoting Adilius07
Too early to speak about 'BUSINESS' one can PRETEND it's business, act alike, think a like (like myself), but untill this thing gives me money, is not a business but a game, like X-Box (man I still didn't get one, can you imagine.... )
it's not pretending , far from it.
it's doing/acting/starting.

u can't say "i'm in business" only when u start to get profits.
where does profit come from? it comes from action. (will u profit if u dont trade/practice/study trading & take it seriously?)
what's behind action? an idea, a vision, a passion, a belief.
it's all interconnected; it's a journey.... there is a start & an end.
the start composes of your ideas, beliefs & then actions. the end is your goal (profits/ financial freedom)

for example, u cant talk about billionaire Bill Gates without mentioning his Microsoft empire's origin (said to be his house's garage). (but most people only know/learn about the present, & fail to look at successful people's past)

it's always about means & ends, causes & effects: one doesnt exist without the other.

Quoting stochman
I just wanted to introduce myself and say hello
Just one question, would the more experienced of you suggest that it's too early for me to join the James16 website, in other words should I get through a large chunk of the thread before considering that as my next step, or would it speed my learning by joining now?
hello stochman,
im not a PF member, but it's been said that the PF is the compact, less-to-no-"noise" version of this free thread.

IMHO, there is an opportunity cost... decide between time & money.
if u have lots more time than money, then the free thread is a better choice.
if u have more money than time, then the PF is a better choice.

welcome & good luck!

Quoting AvanishDemo
hey Mr.Trade Dictionary..
Namaste Avanish,
life is hard, as always
im not a mentor, just someone who looks young but is much older & wiser than u

Quoting Adilius07
One who is not addicted enough will never succeed here
..
hey, i thought u are gonna shut up?
u really are addicted!

seriously, it's just a play with words. addiction, passion, etc. --- they are all the same.
Quoting Kalbar
My very best wishes to you and your family
thank you for your wishes Sir. i wish & pray too!
  • #101,705
  • Sep 14, 2011 11:57am Sep 14, 2011 11:57am
When do you guys move your stop loss to BE? When the price hit the FTA or when you see around 30 pips of profit?

And also, how much of the position you TP and let the rest ride when price hits the FTA?
  • #101,706
  • Sep 14, 2011 12:10pm Sep 14, 2011 12:10pm
Quoting AvanishDemo
hey Mike..u got a nice boost on this trade...congrats
i did not trade this PB as i was not sure the story behind it...as to from where it came off..

anyways Q is..y u did not put ur trade at BE or lock profit..?i see that on ur chart u hv stil kept half of the risk open..
Hey AV

Just letting price do it's thing. This was such a massive once every 6 months type trade that I only had to reduce my stop on the break. I could go to breakeven, but I am watching and don't expect a massive drop, I want to let things develop a bit

Best
Mike
  • #101,707
  • Sep 14, 2011 12:12pm Sep 14, 2011 12:12pm
Quoting stochman
I just wanted to introduce myself and say hello, I've only been trading about nine months, albeit 8/10 hours a day everyday so I've crammed quite a lot in, some good, some diabolical.

As is usually the case I've been through a fair few systems, methods, signal callers, etc, etc, etc, I first heard of the James16 thread some months ago but whatever I was doing at the time obviously seemed more important, and, at that point in time, it possibly was, as it undoubtedly increased my knowledge of S&R, price action and the like.

Anyway I've now found...

Welcome Stoch, glad to have you

Hang around here for a few months, the private forum isn't going anywhere, and we also have free videos up there too. If you decide later on we would love to have you and we'll be around

Again welcome
Mike
  • #101,708
  • Sep 14, 2011 12:13pm Sep 14, 2011 12:13pm
Quoting supremeChaos
for example, u cant talk about billionaire Bill Gates without mentioning his Microsoft empire's origin (said to be his house's garage). (but most people only know/learn about the present, & fail to look at successful people's past)

Yes. Or H.Ford who spend thousand of hours with his "self-moving carrige" in his shack or whatever it was for years (sorry not sure how you say it in english as I was reading his biography in russian). Now, if you knew him at that time you would not think " wow the man is starting his business empire" no... and I'm sure he could never even imagine how far his idea will go... he was just addicted to his thing he did, he loved it and could not stop... later on yes, he made a super business and proved himself to be a successful businessman....why? because MONEY started to pump in i.e business was born.

I think we have to realize that most likely you and me will never become next Gates or Ford. That's kind of childish to think in our age. But we certainly can make some good income and live decent or even abundant life. How that will manifest itself through trading or other activities? I don't know I am doing both... and the "not trading" side gives me income my trading side is at BE for a year (which is good) but really silly to call this business it is an addiction... it will become business when it will start to accumulate at least $10 per month on average.... or $2 at least

And some do this on demo for years... business? C'mon... not business but study and most important shaping the addiction which will not let 'em quit for years and years to come... then maybe they will make money... some day... I hope. imo
  • #101,709
  • Sep 14, 2011 12:13pm Sep 14, 2011 12:13pm
ok, now I shut up for real
  • #101,710
  • Sep 14, 2011 12:24pm Sep 14, 2011 12:24pm
Quoting fascist
I'm having those problems now.

Trading while thinking at the back of your head the bills and payment you need to make just ain't good. I guess that is the real skill and one of the last hurdles I face.
My friend, I hear you loud and clear but trading cannot be thought of as a solution for paying your water bill.
I mean that it is a way of paying your water bill but not until you are no longer concerned with it. You are not in control of what happens, you will never be in control of what happens. You might consider finding a way of paying your bill first and than trade as a hobby and look at it as building your retirement capital slowly but surely. When I finally excepted the fact that I might not be able to my bill with trading and said to myself that getting 5% a month is a very good return on investment I started making more than when I was trying to pay my light bill.
  • #101,711
  • Sep 14, 2011 12:35pm Sep 14, 2011 12:35pm
Thanks for the replies Mike and SC, back to page 7 I go then, for now
  • #101,712
  • Sep 14, 2011 12:39pm Sep 14, 2011 12:39pm
Quoting ashag28
made me think of what I can do with trading and not what I think I should be able to do.
This is a GREAT line



Mike
  • #101,713
  • Sep 14, 2011 12:40pm Sep 14, 2011 12:40pm
Quoting stochman
Thanks for the replies Mike and SC, back to page 7 I go then, for now
enjoy and ask questions as you go


Best
Mike
  • #101,714
  • Sep 14, 2011 12:48pm Sep 14, 2011 12:48pm
Quoting mbqb11
This is a GREAT line



Mike
Hey Mike
How does that go “acceptance is first step to recovery”, try explaining it that to someone who is still addicted.
  • #101,715
  • Sep 14, 2011 12:49pm Sep 14, 2011 12:49pm
Quoting ashag28
Hey Mike
How does that go “acceptance is first step to recovery”, try explaining it that to someone who is still addicted.
you are right bud, our egos are such a powerful force

Thanks for sharing
Mike
  • #101,716
  • Sep 14, 2011 12:52pm Sep 14, 2011 12:52pm
Where will they break to?...
Remember EU had a nice Bullish daily bar.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: eu.gif Size: 8 KB
Click to Enlarge Name: eu1.gif Size: 7 KB
  • #101,717
  • Sep 14, 2011 2:23pm Sep 14, 2011 2:23pm
Hi Edonya

Yep, you r right, it does look interesting

I bought the EUR / USD today, made a few pips, got greedy and gave a few back, then got out , it looks to have potential, but there is US news out tomorrow so should make it interesting

I might wait for a retrace to 1.37 during the Asian / London AM session with PA to confirm then enter long and get out before the news, lets see

Good luck

Anthony
  • #101,718
  • Sep 14, 2011 3:10pm Sep 14, 2011 3:10pm
Quoting Greenhaze
I think that most of us came here for James16 teaching and i believe Jarroo added his spin to this methodology as most of the seniors here. Personally i am leaning towards S/R trading mostly without bar confirmation. It wouldn't be fair if i didn't mention BillyRayValentine as one of the most inspiring traders for me in FF. His style resonates nicely with James16
Cool. Jarro has become the figurehead for most of the S/R trigger trading around here, but I realize that he was far from the first to sing it's praises. Always intersting to hear exactly how others primarily trade. There definitely seems to be quite a bit more on this thread these days about S/R based trading, and I have really been enjoying it. Seems like once you get rid of most of the extra BS, and get down to it, trading just boils down to finding ways of reading if the charts are saying that the investment vehicle is over or under valued. Though I am constantly still evolving as a trader for the most part S/R and PA have more than proven themselves to be the most efficent way of reading what the charts are saying. I am always grateful to everyone on this thread for helping me become who I am and have yet to become.

Ryan
  • #101,719
  • Sep 14, 2011 3:18pm Sep 14, 2011 3:18pm
Quoting Ifmyante
As I said, I recommend mastering HTFs before moving down.

But well done, edge540, you've chased me and my gibberish crap away.

I won't be posting here again unless asked.

Bye all
Just burning through all of the posts as they were put up here. I hope that this will not be your final posting on this thread as I for one enjoy reading what you have to say. I have to admit though, that I am making my way through these pages much more than usual due to skipping most of the posts that are in reference to the disagreement that you and pin are in. At the end of the day it seems as though boths sides are really just arguing semantics... That is more about the ego wanting to be right. I say this to boths sides of this disagreement (Pin and If)- That is not a way to grow as a trader. Don't forget that the real reason why we are here is to help others and as a direct result grow as a trader ourselves. I appreciate everyone here, but please remember that growth (and not ego) is what this thread is all about.

Ryan
  • #101,720
  • Sep 14, 2011 3:20pm Sep 14, 2011 3:20pm
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 there with you bud. This is about appreciating all of the different nuances in everyone and how they translate into best expressing oneself into trading.

Ryan
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