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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

  • #114,261
  • Jul 13, 2012 4:00am Jul 13, 2012 4:00am
Quoting Quezoy
here you go
Thank's Quezoy, only problem is the Sound alerts only once... Is there anyway to change this?
  • #114,262
  • Jul 13, 2012 4:01am Jul 13, 2012 4:01am
Hi guys, I have a question concerning the "right" time my broker should use.

As every retail trader needs to follow the masses he also needs to use the same time settings like them. Especially when it's about price action trading, I think.

Is there a "main"time that most broker use, like GMT+0?
  • #114,263
  • Jul 13, 2012 4:16am Jul 13, 2012 4:16am
Quoting savingpig
Hi guys, I have a question concerning the "right" time my broker should use.

As every retail trader needs to follow the masses he also needs to use the same time settings like them. Especially when it's about price action trading, I think.

Is there a "main"time that most broker use, like GMT+0?
AFAIK, most brokers use GMT+0 but the daily close is usually 5PM NY time.
  • #114,264
  • Jul 13, 2012 4:27am Jul 13, 2012 4:27am
Quoting savingpig
Hi guys, I have a question concerning the "right" time my broker should use.

As every retail trader needs to follow the masses he also needs to use the same time settings like them. Especially when it's about price action trading, I think.

Is there a "main"time that most broker use, like GMT+0?
I think most on here use a FXPRO demo account for charting. It uses the NY close and has a good selection of pairs / indices etc.
  • #114,265
  • Jul 13, 2012 4:28am Jul 13, 2012 4:28am
Quoting jerbersoftfx
thanks c-12. it never came to my mind that there are things to be considered like knowing if it is just a retest or a full reversal. thumbs up there!

cheers,
herbert
Yeah as Mike always says on here. Zoom right out for the bigger picture.
  • #114,266
  • Jul 13, 2012 4:41am Jul 13, 2012 4:41am
Quoting C-12
I think most on here use a FXPRO demo account for charting. It uses the NY close and has a good selection of pairs / indices etc.
The only problem with FxPro is they dont have micro lots.

Alpari UK has micro lots, NY candle close and unlimited demo. Though a bit big spread.
Thoughts are things
  • #114,267
  • Jul 13, 2012 4:45am Jul 13, 2012 4:45am
Quoting Quezoy
The only problem with FxPro is they dont have micro lots.
I don't trade with FXpro. It's only just purely for charting.
  • #114,268
  • Jul 13, 2012 5:49am Jul 13, 2012 5:49am
Quoting nonethewisa
Hey SlapShot

You could try Alpari, google it. (but i think server time is GMT+3)
 Thank you nonethewisa !
Quoting SlapShot
Hey i'm searchin for a broker with an unlimited demo account where the candles close with London or New York. (ideally with metatrader)

At the moment i'm using oanda but the servertime sucks.

Do you have a good tip for me?
 Hi Slapshot,

To open a demo account with us, click here.


 Alex

________
Alexander Chadwick
Alpari (UK) Representative
  • #114,269
  • Jul 13, 2012 5:53am Jul 13, 2012 5:53am
i use FXCM for demo and charting. im not advertising for FXCM but their platform (tradestation) is clean and user-friendly for me. :-D

and AFAIK, their demo account has no time limit. been demo testing there for months now.
  • #114,270
  • Jul 13, 2012 6:03am Jul 13, 2012 6:03am
i use fx pro for charting and trade with capital spreads.
  • #114,271
  • Jul 13, 2012 6:54am Jul 13, 2012 6:54am
Quoting jerbersoftfx
shorted the gbpchf after price broke 10 pips below low of pinbar. see attached. looks like a good trade for me (even though im on a drawdown now).

what do you guys think? looking to get some input from more knowledgeable people here.
just got stopped out. lesson, never go against a strong trend. besides, the pinbar wick was not long enough to look good.
  • #114,272
  • Jul 13, 2012 8:04am Jul 13, 2012 8:04am
Quoting jerbersoftfx
just got stopped out. lesson, never go against a strong trend. besides, the pinbar wick was not long enough to look good.
Yep good lesson here J

Did you see my posts on this one.

http://www.forexfactory.com/showthre...85#post5833885

http://www.forexfactory.com/showthre...60#post5835860

updated chart


Mike
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  • #114,273
  • Jul 13, 2012 8:44am Jul 13, 2012 8:44am
We may get our designed signal today and then trade on Mike's breakout method

Ken
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  • #114,274
  • Jul 13, 2012 9:03am Jul 13, 2012 9:03am
Quoting goodtiding5
We may get our designed signal today and then trade on Mike's breakout method

Ken
Hey Ken

I would see the more relevant pattern as below


Best
Mike
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  • #114,275
  • Jul 13, 2012 10:09am Jul 13, 2012 10:09am
Quoting C-12
I don't trade with FXpro. It's only just purely for charting.
That's a good idea!
  • #114,276
  • Jul 13, 2012 10:37am Jul 13, 2012 10:37am
Quoting equivestor12
Does anyone know of a good price alarm besides BK's in mt4. Bk's alarm has no pop-ups and needs to be reset everytime you switch a profile or exit the platform. Any idea's?

thanks
have you tried metatrader built-in alarms ?
See the alerts pane show when "Trade" panels is visible (CTRL+T)

Best
Diogo
  • #114,277
  • Jul 13, 2012 10:45am Jul 13, 2012 10:45am
www.freestockcharts.com

Good charting with price alerts
  • #114,278
  • Jul 13, 2012 10:50am Jul 13, 2012 10:50am
I have been so focused on working my way through this entire thread that until this morning I hadn't even looked at the free information available on the private forum.

I just spent a couple of hours of quality time there watching videos in the guest section, and it's just great stuff. For the newbies here, if you haven't used those resources, do so now.

The thread is full of great info, but to see and hear the gurus on this thread talking their way through the setups helped to bring a lot of the information into much clearer focus.
  • #114,279
  • Jul 13, 2012 10:51am Jul 13, 2012 10:51am
nice breakout on ip
also check the pullback after the breakout on M5. good place for an entry.
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meine augen sind die sterne
  • #114,280
  • Jul 13, 2012 11:14am Jul 13, 2012 11:14am
mike is it good to start trading with 50.000 usd ?? heard u sayin the account has to be big in order to trade properly so how big ??? and thx in advanced
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