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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

  • #110,081
  • Apr 10, 2012 12:00pm Apr 10, 2012 12:00pm
Quoting mbqb11
Hey Duckie



Forex is not a centralized market(like the stock market) so there is no start and close time officially. It's really a 24/7 market. Because of this the closings of our bars can vary due to what time the broker decides to close their charts at(usually their timezone). At the end of the day we say play it as you see it
So doesn't this mean that pin bars on the stock market charts are more reliable than ones showing up on forex charts, in the sense that everyone on a stock market chart will be seeing the same pinbar and so will trade accordingly?
  • #110,082
  • Apr 10, 2012 12:03pm Apr 10, 2012 12:03pm
Quoting equivestor12
Can anyone recommend a decent computer for trading. I bought an Acer quad-core from Walmart last week for $400 but my friends says they are junk and I should take it back and go buy a off lease business dell or HP from a local supplier. The Acer is working fine but i'm a little concerned about getting support when I need it, where with the dell I can have them set everything up, like multiple monitors, etc.

The only problem with my current set up is I have about 50 charts on my Oanda platform and I usually stick the pairs on my watch list all...
This is total bullshit . Trading software doesn't need much computing power . What you bought is far better than required . 99% of the discrete video cards support at least 2 monitors . If you want to hook up more than 2 displays , then you must choose AMD/ATI video card , or combine several NVIDIA ones.
  • #110,083
  • Apr 10, 2012 12:03pm Apr 10, 2012 12:03pm
Quoting bfd
So doesn't this mean that pin bars on the stock market charts are more reliable than ones showing up on forex charts?
Hey B

I find actually forex easier to read(not a huge difference) but possibly cause I have a decade in FX. The reality is neither is better, it's just about realizing price is price and deciphering all the pieces. This is why the actual bar itself is a very very small part of the overall story(as I call it). Each piece of the puzzle is just as important as the next. When they all fit together that is when we want to be trading.

Best
Mike
  • #110,084
  • Apr 10, 2012 12:05pm Apr 10, 2012 12:05pm
Quoting Rust
This is total bullshit . Trading is not something that needs computing power . What you bought is far better than required . 99% of the discrete video cards support at least 2 monitors . If you want to hook up more displays , then you must choose AMD/ATI video card , or combine several NVIDIA ones.
here is a cheat for 3+ monitors too no extra video card required. Uses a bit more resources and color is slightly duller but gets the job done and is EASY. I have a couple of these b/w my few towers.

http://www.amazon.com/gp/product/B00...00_i00_details
  • #110,085
  • Apr 10, 2012 12:21pm Apr 10, 2012 12:21pm
Hi everyone, I'm looking for a trade management "indicator" that was posted here a while back that allows for multiple TPs, Trailing Stops, and moving stops up based on how far priced has moved into profit. I remember the person who posted it calls it the James16 indicator or something or had it programmed for James16 traders. If anyone can link me to the indicator or the post that he posted it on I'd appreciate it. I looked up in this thread's files by clicking on the paper clip but I didn't find it. Much appreciated, thanks.
  • #110,086
  • Apr 10, 2012 2:04pm Apr 10, 2012 2:04pm
Quoting bullzeye
i set my SL to BE...looks good so far, i like the daily pattern also

Attachment

Attachment
close it after the pair almost hit my TP...

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  • #110,087
  • Apr 10, 2012 2:16pm Apr 10, 2012 2:16pm
EUR/JPY has space down to 61.8 fib

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  • #110,088
  • Apr 10, 2012 2:35pm Apr 10, 2012 2:35pm
Quoting Amart83
Hi everyone, I'm looking for a trade management "indicator" that was posted here a while back that allows for multiple TPs, Trailing Stops, and moving stops up based on how far priced has moved into profit. I remember the person who posted it calls it the James16 indicator or something or had it programmed for James16 traders. If anyone can link me to the indicator or the post that he posted it on I'd appreciate it. I looked up in this thread's files by clicking on the paper clip but I didn't find it. Much appreciated, thanks.
Did a quick search and the following 2 posts could be what you're after.
See post #73737 and post #25151.
Would suggest trying them both out on demo first to see if behaviour is what you expect.
Cheers
  • #110,089
  • Apr 10, 2012 3:13pm Apr 10, 2012 3:13pm
Quoting mbqb11
Hey Equi

I watch and trade around 80 FX pairs. Most are not really that expensive it's just people are used to seeing a 1pip spread on the euro and assume that if a spread is 20 pips that it means its expensive. Often times it's all relative to how the currency is priced as well as how big it moves. Of course that's with all things considered and any decent broker.

If it moves I watch it pretty much

Best
Mike
Hey Mike, how do you manage to keep track on 80 pairs?
No more DOH! trades
  • #110,090
  • Apr 10, 2012 3:16pm Apr 10, 2012 3:16pm
Quoting nonethewisa
Hey Mike, how do you manage to keep track on 80 pairs?
Hey None

Most of the time nothing is going on so most pairs are just being passed. I can scan daily charts fairly quickly so that's not too tough. You get used to it. Intraday I watch probably half of this or so. But being picky is the key and that's the true strength of watching so much we can pass for the good ones

Best
Mike
  • #110,091
  • Apr 10, 2012 3:31pm Apr 10, 2012 3:31pm
Quoting mbqb11
Hey Equi

I watch and trade around 80 FX pairs. Most are not really that expensive it's just people are used to seeing a 1pip spread on the euro and assume that if a spread is 20 pips that it means its expensive. Often times it's all relative to how the currency is priced as well as how big it moves. Of course that's with all things considered and any decent broker.

If it moves I watch it pretty much

Best
Mike
which broker you are on ?

if you dont mind asking

regards,
Jonas
Hero calls followed by margin calls...
  • #110,092
  • Apr 10, 2012 3:42pm Apr 10, 2012 3:42pm
Quoting PhAnTi'
which broker you are on ?

if you dont mind asking

regards,
Jonas
I use a bunch J, feel free to PM me

Broker talk is like talking about ones favorite sports team it seems


Mike
  • #110,093
  • Apr 10, 2012 3:55pm Apr 10, 2012 3:55pm
Quoting mbqb11
I use a bunch J, feel free to PM me

Broker talk is like talking about ones favorite sports team it seems


Mike
haha it definietly is....

alright M, i will so tomorrow...fcuking long day today...i better get some sleep now

regards,
catch ya around

Jonas
Hero calls followed by margin calls...
  • #110,094
  • Apr 10, 2012 4:58pm Apr 10, 2012 4:58pm
Hey Mike,

How are you friend? The AUDJPY trade is turning out well, or as expected rather. First trade I've taken in the last two months live.

Am demoing this USDCAD trade. I am just wondering what your criteria for breaking out of a box is? This DBLHC closed quite above the previous closes, and a major BRN.

Its not an A trade, but I think is a good learning one.

Hope your well,
Heeb
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  • #110,095
  • Apr 10, 2012 5:05pm Apr 10, 2012 5:05pm
Quoting heebbyjeeby
Hey Mike,

How are you friend? The AUDJPY trade is turning out well, or as expected rather. First trade I've taken in the last two months live.

Am demoing this USDCAD trade. I am just wondering what your criteria for breaking out of a box is? This DBLHC closed quite above the previous closes, and a major BRN.

Its not an A trade, but I think is a good learning one.

Hope your well,
Heeb
Hey Heeb

Yep the aud/jpy is moving well, see what happens coming up on some more major trouble areas. Glad to hear you be patient and wait for a juicy one.

Usd/cad I have been watching but the fact we bunch so tight often means a more explosive breakout and tougher to find PA. That's not really a DBLHC since the lows are pretty off. Could still be the tip off out but instead I will just be watching any retest of the 1.0 parity level

Best
Mike
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  • #110,096
  • Apr 10, 2012 5:05pm Apr 10, 2012 5:05pm
Quoting Amart83
Hi everyone, I'm looking for a trade management "indicator" that was posted here a while back that allows for multiple TPs, Trailing Stops, and moving stops up based on how far priced has moved into profit. I remember the person who posted it calls it the James16 indicator or something or had it programmed for James16 traders. If anyone can link me to the indicator or the post that he posted it on I'd appreciate it. I looked up in this thread's files by clicking on the paper clip but I didn't find it. Much appreciated, thanks.
This one?

http://www.forexfactory.com/showthre...95#post3219195
  • #110,097
  • Apr 10, 2012 5:53pm Apr 10, 2012 5:53pm
New people ignore this post.

Took this Base entry last night. Have already taken two thirds off the table and the main point was that, I wanted to see if the H1 entry would get me into the possible formation of the daily BEOB. Then, we may break out of this sideways moving triangle that is building up.
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  • #110,098
  • Apr 10, 2012 10:21pm Apr 10, 2012 10:21pm
Quoting mazdaq100
This one?

http://www.forexfactory.com/showthre...95#post3219195
thank you so much!
  • #110,099
  • Apr 11, 2012 12:58am Apr 11, 2012 12:58am
Quoting mbqb11
Hey Heeb

Yep the aud/jpy is moving well, see what happens coming up on some more major trouble areas. Glad to hear you be patient and wait for a juicy one.

Usd/cad I have been watching but the fact we bunch so tight often means a more explosive breakout and tougher to find PA. That's not really a DBLHC since the lows are pretty off. Could still be the tip off out but instead I will just be watching any retest of the 1.0 parity level

Best
Mike
HI Mike

Is there any special reason you entered short on AUD/JPY at around 83,75 (a sell order marked on your chart). There are several places to take that trade short like a TT around 84,65, but why at 83,75?
  • #110,100
  • Apr 11, 2012 1:22am Apr 11, 2012 1:22am
i think he waited to see if the price would close below the BRN. correct me if i'm wrong Mike cause i was about to ask the same question!
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