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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

  • #114,281
  • Jul 13, 2012 11:54am Jul 13, 2012 11:54am
Quoting extremerrage
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
You mean account good for start or big enough to earn for living??

I'd like to see breakdown here
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  • #114,282
  • Jul 13, 2012 11:57am Jul 13, 2012 11:57am
Quoting extremerrage
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
Hey E

I never talk in specific numbers as that is not legal to do in the US and can constitute as financial advice. I'll say everyone is different and we can trade small account and build them or large accounts. It's really up to each individuals unique situation. I will say that I think its best to trade demo then trade small amounts and build from there. Also with proper MM we can trade accounts the same no matter the size

Best
Mike
  • #114,283
  • Jul 13, 2012 12:05pm Jul 13, 2012 12:05pm
This is very good article from another trader whom i dont follow though..but worth a read.


http://www.learntotradethemarket.com...ed-to-know-now
  • #114,284
  • Jul 13, 2012 12:37pm Jul 13, 2012 12:37pm
Quoting AvanishDemo
This is very good article from another trader whom i dont follow though..but worth a read.


http://www.learntotradethemarket.com...ed-to-know-now
yep thats the student of our masters !!!!
  • #114,285
  • Jul 13, 2012 1:21pm Jul 13, 2012 1:21pm
Hi guys, I think there's a nice DBHLC (EUR/GBP daily) BUT I have one general question about it:

Are all price action best traded at swing highs and swing lows or only the pinbars?
  • #114,286
  • Jul 13, 2012 3:05pm Jul 13, 2012 3:05pm
Quoting savingpig
Hi guys, I think there's a nice DBHLC (EUR/GBP daily) BUT I have one general question about it:

Are all price action best traded at swing highs and swing lows or only the pinbars?
All price action, buying/selling at swing low/high allow us to get the best price(cheap when buy, expensive when sell) and catch the biggest move.
  • #114,287
  • Jul 13, 2012 3:41pm Jul 13, 2012 3:41pm
Quoting diogo
have you tried metatrader built-in alarms ?
See the alerts pane show when "Trade" panels is visible (CTRL+T)

Best
Diogo
Yes I am familiar with the terminal alert Diogo...I was just looking for something that could be set faster like BK's script but didn't need to be reset when you close the terminal, had pop ups and also had a continuous alarm to wake me up!
  • #114,288
  • Jul 14, 2012 3:28am Jul 14, 2012 3:28am
Quoting haircut
i use fx pro for charting and trade with capital spreads.
Do you have any problems with price differences between FXPRO and Capital Spreads? I'm just thinking about splitting trading from charting, but not sure about price differences between the platforms (I use GKFX for spread trading in the UK).

Beans
  • #114,289
  • Jul 14, 2012 10:50am Jul 14, 2012 10:50am
http://i46.tinypic.com/2qkt4c5.gif
  • #114,290
  • Jul 14, 2012 11:11am Jul 14, 2012 11:11am
Quoting 0421
http://i46.tinypic.com/2qkt4c5.gif
Great area to watch for PA .

I think your lines could make sense but without more information it's hard to base that we should go that much higher.

We could see a small bounce, a large bounce, something in between.

This is why I think new traders should focus on PA it gives us more direction. One could of course flat out touch trade buy this area and work from there, but again I think that should not be done until one can trade PA.

Wouldn't it be nice to get a big pin here, buob DBLHC etc.

We might also get small ones and see a short bounce before price breaks UNDER this area. Then what might happen? See chart

but this is a FANTASTIC area to watch and I am very glad to see you posting that area


Best
Mike
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  • #114,291
  • Jul 14, 2012 11:16am Jul 14, 2012 11:16am
thank You Mike, can we loking for this PA on a Lower Time frame? or we must focus on a Daily TF?
  • #114,292
  • Jul 14, 2012 11:19am Jul 14, 2012 11:19am
Quoting 0421
thank You Mike, can we loking for this PA on a Lower Time frame? or we must focus on a Daily TF?
I prefer to keep things to the same timeframe of my analysis. That doesn't mean we can't but often especially with new traders this leads to over trading and taking bad bars. We could get a decent size pinbar on the hourly but in relationship to the daily that pinbar might not do much for us. I believe in trading the ebb and flow of each timeframe. So while the area remains same in strength, the PA I find on the daily will help me better assess the over situation(or story).

So keep it simple especially if new

Best
Mike
  • #114,293
  • Jul 14, 2012 11:26am Jul 14, 2012 11:26am
Quoting mbqb11
I prefer to keep things to the same timeframe of my analysis. That doesn't mean we can't but often especially with new traders this leads to over trading and taking bad bars. We could get a decent size pinbar on the hourly but in relationship to the daily that pinbar might not do much for us. I believe in trading the ebb and flow of each timeframe. So while the area remains same in strength, the PA I find on the daily will help me better assess the over situation(or story).

So keep it simple especially if new

Best
Mike
it makes sense, thank You one more time.
  • #114,294
  • Jul 14, 2012 2:26pm Jul 14, 2012 2:26pm
Quoting rafstraszek
All price action, buying/selling at swing low/high allow us to get the best price(cheap when buy, expensive when sell) and catch the biggest move.
Thank you.
USD/CHF: The red stick closed lower than the whole green stick (by 0,1 pip)
EUR/USD: bullish bar closed higher than the whole bearish bar (this time 0,3 pips)
Attached Image(s) (click to enlarge)
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  • #114,295
  • Jul 14, 2012 3:18pm Jul 14, 2012 3:18pm
Quoting savingpig
Thank you.
USD/CHF: The red stick closed lower than the whole green stick (by 0,1 pip)
EUR/USD: bullish bar closed higher than the whole bearish bar (this time 0,3 pips)
And nice divergence...
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  • #114,296
  • Jul 14, 2012 10:51pm Jul 14, 2012 10:51pm
Quoting rafstraszek
And nice divergence...
Hey Raf- Your image isn't showing up for me for some reason. Could be on my end, but I thought I'd let you know.
  • #114,297
  • Jul 15, 2012 5:26am Jul 15, 2012 5:26am
Quoting greenpath
Hey Raf- Your image isn't showing up for me for some reason. Could be on my end, but I thought I'd let you know.
Interesting...does anyone have also this problem?

I for example don't see attached image to this Mike's post

Quoting mbqb11
Great area to watch for PA .

I think your lines could make sense but without more information it's hard to base that we should go that much higher.

We could see a small bounce, a large bounce, something in between.

This is why I think new traders should focus on PA it gives us more direction. One could of course flat out touch trade buy this area and work from there, but again I think that should not be done until one can trade PA.

Wouldn't it be nice to get a big pin here, buob DBLHC etc.

We might also get small ones and see a...
Only frame....

Maybe this some forexfactory problem... Every other images - no problem.



And here is this image:
http://www.forexfactory.com/attachme...5&d=1342297089 <- are you seeing this?
  • #114,298
  • Jul 15, 2012 5:29am Jul 15, 2012 5:29am
yeah, same here, whitish all over here
  • #114,299
  • Jul 15, 2012 5:58am Jul 15, 2012 5:58am
Quoting balloontree
yeah, same here, whitish all over here
All over?? You don't see both my image on this page?? (one is in attachment, another from link, both are the same) And other my images?
  • #114,300
  • Edited 6:26am Jul 15, 2012 6:15am | Edited 6:26am
Just wondering; are these valid weekly LCS/HCS?

Not really sure what's the difference between LCS/HCS and support/resistance lines?


http://i50.tinypic.com/sy7div.gif
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