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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

  • #118,961
  • Sep 23, 2012 12:50pm Sep 23, 2012 12:50pm
Quoting Ahmed89
Hi ..Guys i been reading alot of eductional threads here on ff and i spend a week here in jim thread i gotta say its the most Safe approach i have red to get into the forex market ..i been playing around on demo acounts for about 3months doing ok ..The thing is jim always says you gotta open BIF money acounts for this method to work for you well ..thats kinda furstrating to me since i cant afford more than 100$ for my first real acount :S ...Any advices or maybe anyone can suggest another system that work for small acounts if studied well ??..Thanks...
Hey Ahmed

Welcome to FX

Your best bet in my view is to just begin to learn to trade right on demo. Forget about live trading for now. Save your money, build your confidence and your trade ability through demo trading smartly like a business. Then slowly grow your live account when the time is right. This would be the advice I would give myself personally

Again welcome to the FX world enjoy it

Mike
  • #118,962
  • Sep 23, 2012 1:33pm Sep 23, 2012 1:33pm
Quoting mbqb11
Hey Hiten

Here was my view on this one
http://www.forexfactory.com/showthre...68#post6034168

As far as space vs traffic. It really is a bit of both BUT the beginning of a box because of the last low and the way the pin sits within that area. So like your chart I would have a box around that area, and if price can get under that area it has more space to run

Let me know if that makes sense
Mike

Thanks Mike, that does make sense.

I think I'm gonna demo this one.
  • #118,963
  • Sep 23, 2012 3:57pm Sep 23, 2012 3:57pm
Hi Jarroo, Just wondering if you have your eye on any potential setups this week ?

Cheers
Dan
  • #118,964
  • Sep 23, 2012 4:18pm Sep 23, 2012 4:18pm
Hello,

My enter on open the market, eur/gbp, in friday was test of LCS and today's open with gap, so I take long with target on the first HCR, best, Rosa.
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  • #118,965
  • Sep 23, 2012 8:42pm Sep 23, 2012 8:42pm
short GU, next tp is the lcs:1.6177
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  • #118,966
  • Sep 24, 2012 2:15am Sep 24, 2012 2:15am
Hi Everyone,

I trade just daily pinbars.

Can someone give me advice as to how I can stop "checking" my trades. I live in the UK, and I tend to keep waking in the night to see how my trades are doing, even though they are "set and forget" trades with SL and Limit orders.

Anyone else have the same problem or solution? It does make for disturbed nights of sleep!

Thanks
"Fail to prepare, prepare to fail."
  • #118,967
  • Sep 24, 2012 3:13am Sep 24, 2012 3:13am
Quoting packhorse
Hi Everyone,

I trade just daily pinbars.

Can someone give me advice as to how I can stop "checking" my trades. I live in the UK, and I tend to keep waking in the night to see how my trades are doing, even though they are "set and forget" trades with SL and Limit orders.

Anyone else have the same problem or solution? It does make for disturbed nights of sleep!

Thanks

What you are describing just comes down to discipline. Read trading in the zone and the disciplined trader by Mark Douglas.
  • #118,968
  • Sep 24, 2012 3:51am Sep 24, 2012 3:51am
Quoting packhorse
Hi Everyone,

I trade just daily pinbars.

Can someone give me advice as to how I can stop "checking" my trades. I live in the UK, and I tend to keep waking in the night to see how my trades are doing, even though they are "set and forget" trades with SL and Limit orders.

Anyone else have the same problem or solution? It does make for disturbed nights of sleep!

Thanks
get a girlfriend...it helps
  • #118,969
  • Sep 24, 2012 4:06am Sep 24, 2012 4:06am
Does anyone have keltner channel indicator (8. 1,3%, 1,3%)?
  • #118,970
  • Sep 24, 2012 4:09am Sep 24, 2012 4:09am
  •  sg_1988
  • | Joined Dec 2011 | Status: Cause I'm P*ssed Off For Greatness | 70 Posts
Quoting annu333
Does anyone have keltner channel indicator (8. 1,3%, 1,3%)?
Hi A,

Try this indicator, hopefully its what you were looking for.

Kind Regards
Sanil
Attached File(s)
File Type: mq4 Keltner Channels.mq4   3 KB | 309 downloads
  • #118,971
  • Sep 24, 2012 5:04am Sep 24, 2012 5:04am
Quoting packhorse
Hi Everyone,

I trade just daily pinbars.

Can someone give me advice as to how I can stop "checking" my trades. I live in the UK, and I tend to keep waking in the night to see how my trades are doing, even though they are "set and forget" trades with SL and Limit orders.

Anyone else have the same problem or solution? It does make for disturbed nights of sleep!

Thanks
You're not doing anything wrong Packhorse. It's your instict that tells you "The real trader does not sleep. He watches." Ask Mike or Jarroo.
  • #118,972
  • Sep 24, 2012 5:16am Sep 24, 2012 5:16am
Quoting Audioslave
You're not doing anything wrong Packhorse. It's your instict that tells you "The real trader does not sleep. He watches." Ask Mike or Jarroo.
Haha!!! That's right!!! Market doesn't sleep - why should you? You can sleep when you're dead (or during the weekends)

But seriously, I keep checking my trades too...I just can't stop myself
  • #118,973
  • Sep 24, 2012 5:28am Sep 24, 2012 5:28am
disagree. if you cant sleep something is wrong and it will not work in long term. i had same problem then i stoped useing sl to BE overnight (i had a lot of be+1 & this concept was totally wrong) and voila sleep like baby. have more pips and im more happy

it can be also, that you are useing too big positions...
  • #118,974
  • Sep 24, 2012 5:30am Sep 24, 2012 5:30am
Once more into the breach.
Taken enough off, if it decides to bounce off the 150.
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  • #118,975
  • Sep 24, 2012 5:42am Sep 24, 2012 5:42am
Quoting packhorse
Hi Everyone,

I trade just daily pinbars.

Can someone give me advice as to how I can stop "checking" my trades. I live in the UK, and I tend to keep waking in the night to see how my trades are doing, even though they are "set and forget" trades with SL and Limit orders.

Anyone else have the same problem or solution? It does make for disturbed nights of sleep!

Thanks
Maybe you'd be more suited to intra-day trading? I know this goes against the starting principles of J16 but you have to be honest with yourself and play to your strengths. Holding onto trades may not be one of them.

I just couldn't handle having a huge stop on the other side of a daily bar and then waiting days for a potential 1:1 R to play out or not.

I can often find pretty low risk (10 to 20 pip stops) 2:1 or 3:1 trades on the lower time frames. Also the trades are usually wrapped up on the same day.
  • #118,976
  • Sep 24, 2012 6:26am Sep 24, 2012 6:26am
Hi guys, took another trade on NZDUSD, after pinbar (bulls tried once before to break this level and failed and now situation repeated), obvisouly the pinbar was not big one and there was a strong support line under so I took this as a quick hitter for 30 pips.
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  • #118,977
  • Sep 24, 2012 6:32am Sep 24, 2012 6:32am
Quoting bullzeye
GOLD

is definitely worth to watch on this area...a mike bar is needed

Attachment
GOLD

stairway to heaven...or just a Christmas tree in making?

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  • #118,978
  • Sep 24, 2012 6:36am Sep 24, 2012 6:36am
Quoting Pinbar
Doesn't look so hot to me on the weekly and even less hot on the daily.
Looks more like a wedge breakout, with the 50 fibo and the FTB to the 365 EMA.
ohhh no, how could you not to find it sexy bro?

cheerz

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  • #118,979
  • Sep 24, 2012 7:19am Sep 24, 2012 7:19am
Quoting bullzeye
ohhh no, how could you not to find it sexy bro?

cheerz

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Too much make up. LOL
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  • #118,980
  • Sep 24, 2012 7:19am Sep 24, 2012 7:19am
Hi all ,

i would like to express millions thnx to james16 and all the senior comrade in here for the very helpfull thread i ever read , ive been in the demo account for the last 6 years relentless ( blowing almost 12 demo acc that i use to trade like a real live one ) . lost thousand of my money as i buy many kind of the system,
regardless thousands indicator i use all come to one conclusion = i cant find a very good reason why i should trade in live account . i almost gave up , stop for demo or near forex for at least 6 months.
lastly i found this thread and apply all the price action into my chart/my trading , it become crystal clear to see what is when wrong and found the missing part of me...as i can say my trading is improved as ive trade confidently over the past few months using this thread as a guide .
in this very moments ,im in the process to open a live account as i knew and believe tht im in the right path ...thnx.
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