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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

  • #112,201
  • May 24, 2012 5:08pm May 24, 2012 5:08pm
Quoting Gs-pips
Hi all, can anyone recommend the PF please, I really need some solid foundation to build on, I have been trading about 1 year and going backwards, time to take things seriously. Back to demo and J16 method. Any advice appreciated.
I strongly recommend joining the PF....I've been a member for a couple of years and for the last 18 months I've been profitable (40% account growth).There is a wealth of information on the PF that you won't find here on the public forum.
The private forum has a number of very competent instructors that give you the ability to find a trading style to suit your personality.
I don't post because I don't have time and I think that is probably the case for most people...so you need to be wary of the prolific posters (Bones and Pinbar are good examples) on the public forum as most of their stuff is crap.I'm a firm believer in the two eyes two ears approach to life...i.e do more watching and listening than talking!
It never ceases to amaze me how quickly new people move from the basics of J16's material to trading 1hr charts and wonder why they don't succeed.The framework for successful FX trading is all at the beginning of this thread and the PF just reinforces and builds upon these basics.
Good luck.
  • #112,202
  • May 24, 2012 5:34pm May 24, 2012 5:34pm
Quoting edge540
I strongly recommend joining the PF....I've been a member for a couple of years and for the last 18 months I've been profitable (40% account growth).There is a wealth of information on the PF that you won't find here on the public forum.
The private forum has a number of very competent instructors that give you the ability to find a trading style to suit your personality.
I don't post because I don't have time and I think that is probably the case for most people...so you need to be wary of the prolific posters (Bones and Pinbar are good examples)...
I have been a member of the PF for 6 years and following this thread for probably the same time. I wouldn't say Bones & Pinbars posts are crap, they just have a different way of interpreting charts but both use S/R and price action which is what this whole thread is about.

I must admit though that this thread has become so enormous and contains so many different styles that for a newbie starting out it would be really confusing. Perhaps there should be a thread started just for newbies with nothing but basics concentrating on daily/weekly charts?

Just my 2 cents
  • #112,203
  • May 24, 2012 5:47pm May 24, 2012 5:47pm
Quoting willf
I have been a member of the PF for 6 years and following this thread for probably the same time. I wouldn't say Bones & Pinbars posts are crap, they just have a different way of interpreting charts but both use S/R and price action which is what this whole thread is about.

I must admit though that this thread has become so enormous and contains so many different styles that for a newbie starting out it would be really confusing. Perhaps there should be a thread started just for newbies with nothing but basics concentrating on daily/weekly charts?

Just...
I think there is a big difference between "different ways of interpreting charts" and crap....crap is not a successful way of trading, in fact Mr Pinbar has recently admitted in another "commercial " thread that in 3 years of trading his account is in the red!!! So I don't think his advice should be headed in any way.As for Bones I'm at a loss to explain his multitude of charts that are thin on explanation of any kind.There will be some that take offence with my posts but I believe the wheat needs to be sorted from the chaff sometimes.Cheers.
  • #112,204
  • May 24, 2012 6:24pm May 24, 2012 6:24pm
lol ,right anyway ,laters

Quoting edge540
I strongly recommend joining the PF....I've been a member for a couple of years and for the last 18 months I've been profitable (40% account growth).There is a wealth of information on the PF that you won't find here on the public forum.
The private forum has a number of very competent instructors that give you the ability to find a trading style to suit your personality.
I don't post because I don't have time and I think that is probably the case for most people...so you need to be wary of the prolific posters (Bones and Pinbar are good examples)...
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #112,205
  • May 24, 2012 6:28pm May 24, 2012 6:28pm
Mate lets see you trade ,honestly who are you
Put a bit of effort in yourself to help others PF guy

cheers

Quoting edge540
I think there is a big difference between "different ways of interpreting charts" and crap....crap is not a successful way of trading, in fact Mr Pinbar has recently admitted in another "commercial " thread that in 3 years of trading his account is in the red!!! So I don't think his advice should be headed in any way.As for Bones I'm at a loss to explain his multitude of charts that are thin on explanation of any kind.There will be some that take offence with my posts but I believe the wheat needs to be sorted from the chaff sometimes.Cheers....
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #112,206
  • May 24, 2012 6:31pm May 24, 2012 6:31pm
Quoting mbqb11
great great area to watch. 1.3 MAJOR PPZ, now channel may be breaking. Time to watch this entire PA . I am open to both ways but if we start to close outside this rising TL I am looking for shorts. Closes above 1.3 looking for longs

Keep it simple

Mike

lol, that chart matches my 8.5x11 chart after todays close. I was thinking of wating for a little box under the TL, but have a feeling it might move faster than that...
Many choose unhappiness over uncertainty.
  • #112,207
  • May 24, 2012 6:45pm May 24, 2012 6:45pm
am I right ? nice and simple no explanation


Quoting edge540
I think there is a big difference between "different ways of interpreting charts" and crap....crap is not a successful way of trading, in fact Mr Pinbar has recently admitted in another "commercial " thread that in 3 years of trading his account is in the red!!! So I don't think his advice should be headed in any way.As for Bones I'm at a loss to explain his multitude of charts that are thin on explanation of any kind.There will be some that take offence with my posts but I believe the wheat needs to be sorted from the chaff sometimes.Cheers....
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On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #112,208
  • May 24, 2012 7:57pm May 24, 2012 7:57pm
I wish I could post from this computer, but there are similar great setups on GBP/NZD, EUR/NZD and GBP/AUD


Quoting mbqb11
great great area to watch. 1.3 MAJOR PPZ, now channel may be breaking. Time to watch this entire PA . I am open to both ways but if we start to close outside this rising TL I am looking for shorts. Closes above 1.3 looking for longs

Keep it simple

Mike
Dr. C
  • #112,209
  • Edited 8:34pm May 24, 2012 8:18pm | Edited 8:34pm
EU may have already taken off.


Well as you are now stalking people edgy, you are right my live account is a grand total of $17 in the red.
Could be worse after trading it for 3 years.
Hence the Trainee Jaroorer title.
It is a tough business.
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  • #112,210
  • May 24, 2012 9:07pm May 24, 2012 9:07pm
Quoting Pinbar
EU may have already taken off.


Well as you are now stalking people edgy, you are right my live account is a grand total of $17 in the red.
Could be worse after trading it for 3 years.
Hence the Trainee Jaroorer title.
It is a tough business.
Flying to?

I will caution with the short but definitely no to long..

Sonic
  • #112,211
  • May 24, 2012 9:13pm May 24, 2012 9:13pm
Quoting mbarker22
Thank you Donkey, your help is greatly appreciated!!!


So here's my chart after adding the weekly levels, with my thoughts on them. You can see when you start adding a lot of the levels from different time frames, you can definitely have several lines on them....thing is they all can be important.
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  • #112,212
  • May 24, 2012 9:15pm May 24, 2012 9:15pm
Quoting Bones
Mate lets see you trade ,honestly who are you
Put a bit of effort in yourself to help others PF guy

cheers
Ok Mate...here is a trade I'm currently in.This is a real account and the trade is live as we speak.
Daily BEOB on EUR/GPB chart.
Trade Reasoning:
#All the following TF's trending down,daily weekly and monthly (so I'm a seller).
#BEOB at a pull back from the down trend.
#Minor swing high.
#PPZ at RN of .8050.
All of the above says CONFLUENCE.

Sell 15 micro (3% risk) @.8035
SL initially set @ .8106 and the reduced as trade went in my favour,currently at BE.
TP .7950.
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  • #112,213
  • May 24, 2012 9:33pm May 24, 2012 9:33pm
Quoting Donkey


So here's my chart after adding the weekly levels, with my thoughts on them. You can see when you start adding a lot of the levels from different time frames, you can definitely have several lines on them....thing is they all can be important.
Here's the daily after adding lines....there could be a lot more. And most likely I will take the dailies off of the chart and trade mostly from the weeklies.
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  • #112,214
  • May 24, 2012 9:38pm May 24, 2012 9:38pm
This is how I manage my trades,I claim no originality for this method it has been gleaned from the PF and other methods on the FF.

Once I'm in my trade I look to reduce risk ASAP and drop down to 1 hr or 4 hr TF's for management.I draw a TL on the lower TF and ride my SL down/up with a 10-15 pip buffer.I'm 2 days into this trade...took a small draw down initially and am now up $90 or so.I'm happy to to let this baby run to my TP or get pinged out at BE.Notice there is no crap on my charts other than PPZ's and a few MA's that I don't really need.
Trading like this is what J16 advocates,it's dead easy....KISS (keep it simple stupid).
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  • #112,215
  • May 24, 2012 10:02pm May 24, 2012 10:02pm
Here's my CHFJPY chart. Important daily level is in confluence with previous weekly levels. I'm currently happy just watching the weekly levels on this pair for PA on daily and 4H. I basically use weekly HCR/LCS to identify PPZ and look for confluence (78.2 fib and 83 are confluence with previous wkly LCS, current daily LCS. Would love a huge Pin bar right here
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  • #112,216
  • May 24, 2012 10:06pm May 24, 2012 10:06pm
Quoting sonicdeejay
Flying to?

I will caution with the short but definitely no to long..

Sonic
Indeed, I would not want to short at these bar closes and this major SP.
I meant, it had taken off from the weekly area it broke through and we are probably going to see a pullback and RT of this area.
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  • #112,217
  • May 24, 2012 10:31pm May 24, 2012 10:31pm
Donkey, I can't thank you enough for this. You really worked hard on this, I definitely owe you one. Thanks again, this has been a huge help!

Quoting Donkey
Here's the daily after adding lines....there could be a lot more. And most likely I will take the dailies off of the chart and trade mostly from the weeklies.
  • #112,218
  • May 24, 2012 11:14pm May 24, 2012 11:14pm
Quoting edge540
This is how I manage my trades,I claim no originality for this method it has been gleaned from the PF and other methods on the FF.

Once I'm in my trade I look to reduce risk ASAP and drop down to 1 hr or 4 hr TF's for management.I draw a TL on the lower TF and ride my SL down/up with a 10-15 pip buffer.I'm 2 days into this trade...took a small draw down initially and am now up $90 or so.I'm happy to to let this baby run to my TP or get pinged out at BE.Notice there is no crap on my charts other than PPZ's and a few MA's that I don't really need.
Trading...
Fantastic edge540. I too am new and this kind of example is perfect to learn from. Thanks for the clear words and charts. Makes perfect sense. You need to do more of them for us newbies.
  • #112,219
  • May 24, 2012 11:45pm May 24, 2012 11:45pm
Quoting mbarker22
Donkey, I can't thank you enough for this. You really worked hard on this, I definitely owe you one. Thanks again, this has been a huge help!
donkey(bad name for him ) has worked very hard. That's what it takes. Slow and steady. Staying patient, picky and being humble.

It's why I admire HIM.

Guys lets keep this to charts and not attacks. I always say it. We will ultimately all choose our own path and have difference of opinions BUT we all have the same goal.

Let's keep that spirit of helping here. That's what James has done for us all these years

Thanks
Mike
  • #112,220
  • May 24, 2012 11:52pm May 24, 2012 11:52pm
Definitely agree with you on all of this Mike.

Quoting mbqb11
donkey(bad name for him ) has worked very hard. That's what it takes. Slow and steady. Staying patient, picky and being humble.

It's why I admire HIM.

Guys lets keep this to charts and not attacks. I always say it. We will ultimately all choose our own path and have difference of opinions BUT we all have the same goal.

Let's keep that spirit of helping here. That's what James has done for us all these years

Thanks
Mike
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