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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

  • #112,381
  • May 28, 2012 7:28pm May 28, 2012 7:28pm
Great thread, no doubt about it. Thank you.

Nice PB action on the 15m A/U with follow through.
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  • #112,382
  • Edited 3:55am May 29, 2012 2:43am | Edited 3:55am
Just wanted to share my foolishness, so other people dont make the same mistake.


EUR/AUD loss

Was watching this pair for a break down.
TL got broken and we had a retest, but zhis was on friday and I did not want to enter. Besides, there was some support below it.

Monday morning the price was allready below the support and I was unpleased with myself.
Was looking for anything resembling a pullback for an entry. Found something like that on H1 and entered.
SL got triggered. Of course...

People dont say for nothing DONT CHASE THE PRICE.
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Thoughts are things
  • #112,383
  • Edited 4:42am May 29, 2012 3:40am | Edited 4:42am
"People dont say for nothing DONT CHASE THE PRICE."

".......Wait for it to come to you"


Took short when everybody were long after D1 breakout
Now give me pullback pls
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  • #112,384
  • May 29, 2012 6:18am May 29, 2012 6:18am
Quoting mbqb11
updated chart.

BUOB was our Preemptive breakout bar, and now price has started to make it's way higher. Was just a nice story on this one, that's all we want
Hey Mike, i know we talked briefly about the way down a few weeks back, now it's on the way up! Gotta love the way the market gives in both directions. I'm sure there's a wife joke in there somewhere but anyway....

This is something i wanted to post about FTA's (for the thread and not to Mike as i think he knows all about that )....

New people.... Know your FTA's! Not every trade will be runner. In fact most will not. I took a H1 pin inside a great place for a reaction. So i sold it with a v small SL giving me a nice position. Against quite a big move up too. Not 1st page stuff at all but the lesson here is the EXIT not the ENTRY.

It went to where i wanted it and i got out with 20+ pips. Easy. You can see quite easily where it was going to bounce.

Now it turned into quite a nice H4 pin after that and is doing it's thing. It might go for more. I'm not bothered now.

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  • #112,385
  • May 29, 2012 6:20am May 29, 2012 6:20am
Quoting Greenhaze
"People dont say for nothing DONT CHASE THE PRICE."

".......Wait for it to come to you"


Took short when everybody were long after D1 breakout
Now give me pullback pls
10V, 1000 posts. Nicely done
  • #112,386
  • May 29, 2012 6:47am May 29, 2012 6:47am
Hi Guys,

I've been following this thread for about 4 months now.

After 2 months i decided to start afresh on my trading account, using the new methods I have learned on this thread.

This is how my first 2 months of trading have gone.

Report attached
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File Type: pdf DetailedStatement.pdf   205 KB | 1,024 downloads
  • #112,387
  • May 29, 2012 7:27am May 29, 2012 7:27am
Quoting Brixton
Hi Guys,

I've been following this thread for about 4 months now.

After 2 months i decided to start afresh on my trading account, using the new methods I have learned on this thread.

This is how my first 2 months of trading have gone.

Report attached
16 winners, 16 losers and 5 breakevens but more importantly 23% return in 2 months. Well done Brixton. What have been your main lessons from the losers?

M
  • #112,388
  • May 29, 2012 7:55am May 29, 2012 7:55am
Quoting Greenhaze
"People dont say for nothing DONT CHASE THE PRICE."

".......Wait for it to come to you"


Took short when everybody were long after D1 breakout
Now give me pullback pls
beauty of a chart GH


Mike
  • #112,389
  • May 29, 2012 7:58am May 29, 2012 7:58am
Quoting Brixton
Hi Guys,

I've been following this thread for about 4 months now.

After 2 months i decided to start afresh on my trading account, using the new methods I have learned on this thread.

This is how my first 2 months of trading have gone.

Report attached
congrats Brixton, keep it up!

Mike
  • #112,390
  • May 29, 2012 8:07am May 29, 2012 8:07am
Quoting millions
16 winners, 16 losers and 5 breakevens but more importantly 23% return in 2 months. Well done Brixton. What have been your main lessons from the losers?

M

Main lessons from the losses I would say is making sure i'm not trading on one aspect alone. I want to have 3 reason to enter a trade... e.g Price at an important s/r area, touching a fib and a price action signal. Some of the losses have only had 1 of the 3. (does that makes sense)..

The biggest difference this thread has made to me is discovering the importance of Daily charts. I spent 3 years trying all kinds of strategies off 15 and 5 mins charts and not looking at the bigger picture.
  • #112,391
  • May 29, 2012 8:23am May 29, 2012 8:23am
Quoting Brixton
Main lessons from the losses I would say is making sure i'm not trading on one aspect alone. I want to have 3 reason to enter a trade... e.g Price at an important s/r area, touching a fib and a price action signal. Some of the losses have only had 1 of the 3. (does that makes sense)..

The biggest difference this thread has made to me is discovering the importance of Daily charts. I spent 3 years trying all kinds of strategies off 15 and 5 mins charts and not looking at the bigger picture.
Understanding that is indeed v important. nice one m8.
  • #112,392
  • May 29, 2012 8:32am May 29, 2012 8:32am
Quoting Brixton
Hi Guys,

I've been following this thread for about 4 months now.

After 2 months i decided to start afresh on my trading account, using the new methods I have learned on this thread.

This is how my first 2 months of trading have gone.

Report attached
Congrats bro!
Keep it going.
Thoughts are things
  • #112,393
  • May 29, 2012 8:56am May 29, 2012 8:56am
AUD/NZD breaking to the downside?
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Thoughts are things
  • #112,394
  • May 29, 2012 9:27am May 29, 2012 9:27am
moving S/L into profit now.

keep rolling.
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Many choose unhappiness over uncertainty.
  • #112,395
  • May 29, 2012 9:48am May 29, 2012 9:48am
Quoting Dan Gilbert
moving S/L into profit now.

keep rolling.
awesome Dan! Glad to see a few of you catch this one it was a beautiful confluenced area


Best
Mike
  • #112,396
  • May 29, 2012 10:09am May 29, 2012 10:09am
Caught the euraud movement on the retrace this morning and it probably hit my tp. Can't check from work

Main thing though: I've heard a lot, a lot, about this thread. I've read about the 50 first posts and other posts in between. I'm up about 16% on a 1000 usd account using methods other than the James16 price action (trendlines, s/r, and PA on the daily and 4H).
Been trading live for 2 weeks, lost a few, gained a few more and bigger. Demo traded for 2 months with consistent gains. Used a simulator to trade with even more consistent gains on the e/u, g/u for the past 3 years of history. Failed miserably trading two years ago (1H charts), jumping the gun without hardly any experience.

In your personal opinion (not to the owners of the group, but to subscribers), is it worth it to sign up for the group? I will still make the decision myself, but I'd like to get input here first (already looked at all the guest stuff, looks great). I will not come back and rant if I fail or can't do it, because I know that I own the responsibility for all of my actions.

Refer me back to post one if this question is useless... lol it very well may be after having read all of these posts. Leaning hard towards going to the PF at james16group.
  • #112,397
  • May 29, 2012 10:46am May 29, 2012 10:46am
how is your gold ?
  • #112,398
  • May 29, 2012 11:23am May 29, 2012 11:23am
Quoting tinkerbelle
how is your gold ?
hehe, doing just as he said. Nice one bones. A trader with balls.

And as i've posted a few times before, look out for this pole getting a retrace.... there might be more easy pickings to take this short again.
  • #112,399
  • May 29, 2012 11:42am May 29, 2012 11:42am
Quoting Quezoy
AUD/NZD breaking to the downside?
I think Mike would say that it was better to wait for nice close below the level u draw I dont like pure breaks but if f.e. nice Beob or dbhlc appear and closed below i would enter myself. Would like Mikes thoughts to read
If not up, then down, otherwise sideways :-)
  • #112,400
  • May 29, 2012 12:26pm May 29, 2012 12:26pm
Quoting Magestic
I think Mike would say that it was better to wait for nice close below the level u draw I dont like pure breaks but if f.e. nice Beob or dbhlc appear and closed below i would enter myself. Would like Mikes thoughts to read
Yep I agree magestic. I always look to trade away from the pattern. Rarely am I in before but sometimes that can happen too. It's always great once we can close outside these areas because we look for that "flip" if it doesn't happen and we get the flop we get out!

Mike
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