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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

  • #115,921
  • Aug 21, 2012 1:30pm Aug 21, 2012 1:30pm
Quoting SlapShot
I have to admit that i went back to te basics as you say in the last weeks. But im either very picky or blind. So i had only three trades in the last three weeks. Two IB and the weekly BEOB on AUDCAD (I really missed the daily here). May I ask what basic A-trades you took in this month mike?
I take even less trades than that. And I am watching 67 pairs every day down to the H1. Actually you can find most of them posted here before the fact. But I have almost no losses So in my case quality beats quantity. I am definitely trying to expand (because i want more %%%) my trading to be able to take more trades, but i will not sacrifice trade quality!
  • #115,922
  • Aug 21, 2012 1:31pm Aug 21, 2012 1:31pm
Quoting Rust
I take even less trades than that. And I am watching 67 pairs every day down to the H1. Actually you can find most of them posted here before the fact. But I have almost no losses So in my case quality beast quantity. I am definitely trying to expand my trading to be able to take more trades, but i will not sacrifice trade quality!
Rust my man!

  • #115,923
  • Aug 21, 2012 1:58pm Aug 21, 2012 1:58pm
I think I put a short order at the bottom of the last bar if it closes under 125.0
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  • #115,924
  • Aug 21, 2012 2:31pm Aug 21, 2012 2:31pm
Quoting mbqb11


If you are struggling PLEASE stick with the basics. I can't stress this enough. I see a lot of touch trading which is great for those of you studying it and refining. But those of you new traders just jumping in here, please start back from post 1. You will be doing yourself a huge disfavor
Best advice anyone could give ... Must be taken very seriously by every one ...
Human
  • #115,925
  • Aug 21, 2012 2:39pm Aug 21, 2012 2:39pm
Mike, any thoughts on the Daily BEOB forming on the S&P500? Fresh new highs for 2012 then rejected downwards and engulfing two previous days of price action. Still waiting to close. 1400 FTA? I think a retrace to 1375 or 1350 could still fit into an overall bullish scenario. IE a retrace into the weekly BUOB from 4 weeks go.
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Price is beautiful. A repetitive method is a competitive method.
  • #115,926
  • Aug 21, 2012 2:41pm Aug 21, 2012 2:41pm
Already covered my AUD/USD loss with a much much bigger margin with this trade alone ....
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Human
  • #115,927
  • Aug 21, 2012 2:46pm Aug 21, 2012 2:46pm
Quoting Chanya
Already covered my AUD/USD loss with a much much bigger margin with this trade alone ....
Nice entry on that. Very little drawdown for a D1 trade.
  • #115,928
  • Aug 21, 2012 2:52pm Aug 21, 2012 2:52pm
Quoting SlapShot
I have to admit that i went back to te basics as you say in the last weeks. But im either very picky or blind. So i had only three trades in the last three weeks. Two IB and the weekly BEOB on AUDCAD (I really missed the daily here). May I ask what basic A-trades you took in this month mike?
Hey. I am still very new at trading, but went through 3 months profitable . In July I opened my first live account, but I couldn't believe how picky I got!!!!
There was no trading for me the whole month. I took my first live trade with the Aud/Cad sell. It felt really good and I just knew that I have to wait for the right moment. If I don't trade for another month that is fine too, at least my account will grow slowly!
  • #115,929
  • Aug 21, 2012 2:58pm Aug 21, 2012 2:58pm
Quoting C-12
Nice entry on that. Very little drawdown for a D1 trade.
Thank you but how do you know what my draw down was ???
Human
  • #115,930
  • Aug 21, 2012 3:08pm Aug 21, 2012 3:08pm
Quoting Chanya
Thank you but how do you know what my draw down was ???
Sorry unrealised drawndown. I meant the price pretty much bounced straight off your entries.
  • #115,931
  • Aug 21, 2012 3:11pm Aug 21, 2012 3:11pm
Quoting Chanya
Already covered my AUD/USD loss with a much much bigger margin with this trade alone ....
I do not understand how you can buy at the very bottom of the candle )))
  • #115,932
  • Aug 21, 2012 3:27pm Aug 21, 2012 3:27pm
Would that be a valid BEOB on CADJPY if it closes under yesterdays low?
  • #115,933
  • Aug 21, 2012 3:32pm Aug 21, 2012 3:32pm
Quoting eXtreme
I do not understand how you can buy at the very bottom of the candle )))
with pending orders. in this case a buy limit.
  • #115,934
  • Aug 21, 2012 3:55pm Aug 21, 2012 3:55pm
Quoting Forexgogo
I think I'm going short when the last bar makes a nice pin bar
forexgogo,

any indicator that give only round number 1000. after 100pips coz what am getting is 50 pips distances and they fill my charts. any idea.

FYI, guys keep up the good job. really wonderful trades and trading styles.
"Taking Responsibility is The Cornerstone of A Winning Attitude"
  • #115,935
  • Aug 21, 2012 4:15pm Aug 21, 2012 4:15pm
Hello,

Chart, best, Rosa.
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  • #115,936
  • Aug 21, 2012 4:31pm Aug 21, 2012 4:31pm
trades for today.
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all is eternal - this is good news for people who loves bad news
  • #115,937
  • Aug 21, 2012 4:44pm Aug 21, 2012 4:44pm
Quoting riandouma
Hey. I am still very new at trading, but went through 3 months profitable . In July I opened my first live account, but I couldn't believe how picky I got!!!!
There was no trading for me the whole month. I took my first live trade with the Aud/Cad sell. It felt really good and I just knew that I have to wait for the right moment. If I don't trade for another month that is fine too, at least my account will grow slowly!
Great to see someone in the same place as me, although I am not on live account. I am consistently demoing profitably for last few months but my trades are few and far between. I missed the aud/ cad sell as I was waiting on the retrace back to 1.05- maybe the entry was so strong (beob, tl, pivot and brn) that I should have been more conservative. I am however in the following trade "audpln" and doing well so that is my one triggered trade for the month.

My philosophy is quite simple- I enter strongly confluenced trades (I have entered none yet that did not involve a brn/ tl) in locations that enable me to get small stops (50 pip max), get stop to be asap and look for runner to next brn (usually about 480 pips away)- look at all Jim's recent charts! If I can get one of these each month, that is all I need. Even if I get a loser, it will only cost me 40 pips. A 50% success rate and I hope to have a minimum 400 pip per month return- thats 5,000 pips per annum which will definitely satisfy me.

I am recently starting to demo chanya/ jarroo method to get more chart time and sure enough I got dragged into the sell on audusd making my first trade a loser but I will continue demoing as I am extremely impressed with the results.

Good luck and continue being patient!
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  • #115,938
  • Aug 21, 2012 4:48pm Aug 21, 2012 4:48pm
Quoting millions
.I am recently starting to demo chanya/ jarroo method to get more chart time and sure enough I got dragged into the sell on audusd making my first trade a loser but I will continue demoing as I am extremely impressed with the results.
Still unsure how you guys got stopped out on the AUDUSD trade. I thought the stop went behind the breakthrough candle?
  • #115,939
  • Aug 21, 2012 4:55pm Aug 21, 2012 4:55pm
Quoting C-12
Still unsure how you guys got stopped out on the AUDUSD trade. I thought the stop went behind the breakthrough candle?
There are few schools - I usually put my sl above/below some recent ppz or other hcr/lcs...
  • #115,940
  • Aug 21, 2012 4:56pm Aug 21, 2012 4:56pm
Quoting meshka
trades for today.
hi,

i notice ur analysis is based on bar that are closed for todays trade. however, my broker's daily bars have not yet closed due to GMT difference i guess. doesnt this affect our analysis? are ther brokers we could install their MT4's for ease?
thank you, i will b watching those pairs too.
"Taking Responsibility is The Cornerstone of A Winning Attitude"
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