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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

  • #120,861
  • Nov 15, 2012 9:21am Nov 15, 2012 9:21am
Quoting rafstraszek
Incredible, just incredible...Great catch.
Oh the M1 is great. No noise on that chart.

It works exactly the same as any other time frame except you have to be really sharp with managing the trade. The R/R ratios are insane. You have to get to break even quickly and you need a low spread ECN style broker.
  • #120,862
  • Nov 15, 2012 9:25am Nov 15, 2012 9:25am
Quoting C-12
Oh the M1 is great. No noise on that chart.

It works exactly the same as any other time frame except you have to be really sharp with managing the trade. The R/R ratios are insane. You have to get to break even quickly and you need a low spread ECN style broker.
Oh yeah - and you have plenty time for making decisions xD
  • #120,863
  • Nov 15, 2012 9:25am Nov 15, 2012 9:25am
Quoting DaGrizlyBull
I'm not 100% sure, but i think it will go up or down. One of these 2.
Good Joke!
Price Is The Best Indicator Itself.
  • #120,864
  • Nov 15, 2012 9:25am Nov 15, 2012 9:25am
Quoting packhorse
Hi Guys,

Xmas is coming.

Can anyone recommend a good book for my children to get me for a Xmas present?

I trade purely pinbars on daily charts using weekly and mothly pivot points, and S&R. I am really looking for a book/articles that can help me with identifying set ups, in particular, concentrating on price action and pivot points.

Any suggestions gratefully received,

Thanks

Glynn
Just make them write you a 130$ cheque so you can watch J16 PF Videos
I don't need easy. I just need possible.
  • #120,865
  • Nov 15, 2012 9:26am Nov 15, 2012 9:26am
That can be a good move!
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Price Is The Best Indicator Itself.
  • #120,866
  • Nov 15, 2012 9:35am Nov 15, 2012 9:35am
Quoting asim.iqbal
That can be a good move!
I don't know about that - look how strong bull move was...Prize broke through trendline and ppz very fast and strong...but this pinbar can give us nice pullback to enter long...

Pinbar gave his opinion abot this one few posts ago...



Hey, my fxpro demo isn't working (offline) how about yours?
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  • #120,867
  • Nov 15, 2012 9:50am Nov 15, 2012 9:50am
Touch trade
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  • #120,868
  • Nov 15, 2012 10:42am Nov 15, 2012 10:42am
Hi Jaroo & Seniors,

So far,i have been using the J16 style of trading ,but the issue with this style of trading is we have to wait and wait to get a good setup and you need a big account to make any kind of money. J16 style is good no doubt, but my opinion is that people who cannot afford a big account cannot trade using j16, cause you need to wait and wait , but the reality is that market makes good moves almost on a daily basis, so as traders if we cannot catch them at least 50% of time , i don't think we can make it.

Don't get me wrong here, but i have been trading j16 on stocks for quite sometime , but it just requires a lot of waiting and i wonder , the market moves everyday and i m just sitting here waiting to get that one good trade. It's a good method for people who have a big account.

Now , i trade mostly stocks on intraday basis. I was experimenting with your method and it is simply mind blowing.I am seeing that with your method , played right it is possible to get a good move almost daily. I am still demoing it.

My question is how do apply the jarroo style on intraday for stocks?. I mostly use 2000 Tick charts(better than time charts). Please provide your valuable inputs on this.

Thanks.
  • #120,869
  • Nov 15, 2012 11:02am Nov 15, 2012 11:02am
Hello Zamfir,
When I first started trading J16 I had similar thoughts as you...the trades come few and far. While I don't enter 5 or 10 trades a day I do get at least 5 or 10 solid trades per month. I follow Mike's method for the most part but I don't trade his method exclusively. But J16 is really not about trading anyone person's method like Mike's and Jaroo's. Don't get me wrong. Those are great methods but they are based on what J16 talks about - - PRICE ACTION and picking the best set-ups. Every trader must pick his style of trading that is best for him. Look at Bullzye, Rust, Bones just to name a few good traders here who trade there own style but based on price action.

I don't know how Jaroo's method would work with stocks but his method is very clearly laid out in this thread for those who take the time to read and study it. I think if you do that you will learn whether or not it works for you with stocks. Many who question the value of J16 I find haven't really taken the time to read the 100s and 100s of pages here to see that J16 is a multi-faceted thread with tons of valuable information that any trader if they take the time will find his own niche.

So Zamfir. I encourage you to read, read and read some more of this huge but extremely valuable thread. I started reading from the beginning months ago and I'm still reading.

Take care and good luck!!!
Quoting zamfir
Hi Jaroo & Seniors,

So far,i have been using the J16 style of trading ,but the issue with this style of trading is we have to wait and wait to get a good setup and you need a big account to make any kind of money. J16 style is good no doubt, but my opinion is that people who cannot afford a big account cannot trade using j16, cause you need to wait and wait , but the reality is that market makes good moves almost on a daily basis, so as traders if we cannot catch them at least 50% of time , i don't think we can make it.

Don't get me wrong here,...
  • #120,870
  • Nov 15, 2012 11:04am Nov 15, 2012 11:04am
Quoting zamfir
Hi Jaroo & Seniors,

So far,i have been using the J16 style of trading ,but the issue with this style of trading is we have to wait and wait to get a good setup and you need a big account to make any kind of money. J16 style is good no doubt, but my opinion is that people who cannot afford a big account cannot trade using j16, cause you need to wait and wait , but the reality is that market makes good moves almost on a daily basis, so as traders if we cannot catch them at least 50% of time , i don't think we can make it.

Don't get me wrong...
Hey Z

I have to disagree here with a few points. I won't get into specifics on %R or anything like that. Or how wanting to trade every day tends to kill most traders. That aside

But j16 methods are applicable on ALL timeframes. So if someone wants to actively find more trades they need only expand the amount of markets they watch and the amount of timeframes they watch.

For example someone who watches 70 FX pairs on the 5m-weekly is exposed to 7 timeframes and a LOT of new bars. This is aside from learning to do this the right way on the higher timeframes.

I just wanted to point out that if you are having success on the higher timeframes then the information doesn't change. i trade an hourly timeframe the same way I trade a weekly timeframe.


Just some food for thought

Mike
  • #120,871
  • Nov 15, 2012 11:07am Nov 15, 2012 11:07am
Quoting packhorse
Hi Guys,

Xmas is coming.

Can anyone recommend a good book for my children to get me for a Xmas present?

I trade purely pinbars on daily charts using weekly and mothly pivot points, and S&R. I am really looking for a book/articles that can help me with identifying set ups, in particular, concentrating on price action and pivot points.

Any suggestions gratefully received,

Thanks

Glynn
The best "book" that i've read it's called mbqb11 webinars
I'm truly serious.
  • #120,872
  • Nov 15, 2012 11:07am Nov 15, 2012 11:07am
EURSEK looking great for a little trade isnt it? .
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all is eternal - this is good news for people who loves bad news
  • #120,873
  • Nov 15, 2012 11:10am Nov 15, 2012 11:10am
One other thing Zamfir,
I don't have a huge account but it is getting there with J16 principles. The more I read your statements the more I can see you haven't really spent much time reading and studying this thread. I hope you do. If you are sincere about reading it you will only benefit.

Take care.
  • #120,874
  • Nov 15, 2012 11:35am Nov 15, 2012 11:35am
Quoting Winston Reed
One other thing Zamfir,
I don't have a huge account but it is getting there with J16 principles. The more I read your statements the more I can see you haven't really spent much time reading and studying this thread. I hope you do. If you are sincere about reading it you will only benefit.

Take care.
Thanks Winston for the reply. Yes you may be correct in saying i have not completely grasped the j16 material. I trade mostly the pinbar with confluence setups on stocks and i watch around 100 stocks. I designed a pinbar scanner on the stocks and then i watch for the confluence when i get a alert and if there is room to move , i take the trades and if not i don't. Now i don't know if i can do any better than this. But i have been doing this for months and the good setups are still rare and sometimes i miss the good ones. This frustrates me the most. So yes the pinbars with confluence works , but i miss most of them and sometimes when the setups have everything going for them , they don't work and this disappoints me.

I cannot trade forex ,since it's illegal in my country. But the j16 works really well in the forex markets.

I realize for my style of trading and my limitations of markets, waiting for PA setup isn't helping me and i have to face this reality. I cannot fool myself saying that it will work for me and keep at it. I learn t the Jarro style and i m demoing it and its give me more entries and some of them are remarkable. However i do watch for PA setups too. But like i said with my limitations, i need to be able to trade on a daily basis and catch the big moves when they happen. Most time PA setup don't give me this or may be i am not good enough with them. But i find Jarroo HCR/LCS and PBTCA/CB method simple and it works most of the time.

With the Jarro style , i look for mostly the consolidation areas and trade the breakout and retracements.

My question though is that how do i trade the jaroo style on tick charts? i am not able to find much material on this.



Thanks.
  • #120,875
  • Nov 15, 2012 11:56am Nov 15, 2012 11:56am
Quoting zamfir
Thanks Winston for the reply. Yes you may be correct in saying i have not completely grasped the j16 material. I trade mostly the pinbar with confluence setups on stocks and i watch around 100 stocks. I designed a pinbar scanner on the stocks and then i watch for the confluence when i get a alert and if there is room to move , i take the trades and if not i don't. Now i don't know if i can do any better than this. But i have been doing this for months and the good setups are still rare and sometimes i miss the good ones. This frustrates me the most....
I suspect trading Jarroo style with tick charts may not work. His style is all about trading closes above/below HCR, LCS from a daily/weekly perspective. Pinbars work but as J16 teaches you have to be super picky about which pinbars you trade. I suspect your program cannot pick the best pinbars. I could be wrong though. I would encourage you to take a closer look at price action. It occurs on all time frames. The first 50 or 100 pages of this thread is what sold me. These I think are the foundation pages of this thread. I've read them several times and each time I learn something new or find something that fortifies my current trading style.

You really do have to study, study and study more. Look at hundreds of charts and find examples of price action in the context of confluences with s/r, ppz's, fibo's, pattern break outs, etc. etc. Trade demo so you have no fear of taking chances with different set-ups and patterns. Log them and save pics of all your trades so you can see what works and what doesn't.

Good luck again Z.
  • #120,876
  • Nov 15, 2012 12:06pm Nov 15, 2012 12:06pm
Quoting zamfir
I cannot trade forex ,since it's illegal in my country. But the j16 works really well in the forex markets.




Thanks.
Illegal ? Since when it is illegal to trade forex in india ?
Human
  • #120,877
  • Nov 15, 2012 12:13pm Nov 15, 2012 12:13pm
Quoting Chanya
Illegal ? Since when it is illegal to trade forex in india ?
it has always been illegal to trade forex on margin. you can check the RBI for more details.

Also to be clear i am talking about Forex otc trading , not futures. Currency futures is perfectly legal.
  • #120,878
  • Nov 15, 2012 12:13pm Nov 15, 2012 12:13pm
DBHLC on H4. Took half off and letting this go at break even
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  • #120,879
  • Nov 15, 2012 12:16pm Nov 15, 2012 12:16pm
Quoting meshka
EURSEK looking great for a little trade isnt it? .
sellable on a break of 8.6300 imho. Dont trade this one the spread on my platform is atrocious

olu
If you think you can or cannot do it you are correct
  • #120,880
  • Nov 15, 2012 12:29pm Nov 15, 2012 12:29pm
Quoting zamfir
Hi Jaroo & Seniors,

So far,i have been using the J16 style of trading ,but the issue with this style of trading is we have to wait and wait to get a good setup and you need a big account to make any kind of money. J16 style is good no doubt, but my opinion is that people who cannot afford a big account cannot trade using j16, cause you need to wait and wait , but the reality is that market makes good moves almost on a daily basis, so as traders if we cannot catch them at least 50% of time , i don't think we can make it.

Don't get me wrong here,...
Hi Zamfir,

Please Mike&others correct me if I am wrong. From my point of view, and what I little know of FOREX, it is not correct.

Regarding account size 1% is 1%. So if someone is doing 10%/month with his method, with 100€ or with 100000€ you will still do 10%/month (Sorry I live in a country with € )
James16 is writing about account size at the beginning of the thread because if you have 100 on your account, you will be more frustrated with your income and tend to take more risks and make mistakes. It is psychological factor.

Regarding lowertimeframes : more trades = worst setup = more risk. If you change timeframe, you will catch more moves, because you will find other S/R (or PPZ, or HCR/LCS), however they will be weaker, then => bigger risk !
I am not trading H4/H1 with this method yet, but I could see added value of lowertimeframes. I see 2 problems with daily timeframe : daily PA is lagging and you don't have the whole information of the intraday PA, and then something is missing. So it is true that on a strong daily S/R, it is possible to find best entries on lowertime frames : intraday confluence (Chart patterns, TL), intradays PB/OB/IB or Pull-backs when breaking-out. But careful with false signals.

Thanks for giving me the opportunity to share my opinion

& sorry for my terrible english...
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