james16 Chart Thread | Page 6113 | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

Where can I learn more about Price Action like those in James16 charts? 9 replies

Attachments: james16 Chart Thread
Exit Attachments

james16 Chart Thread

  • #122,241
  • Jan 9, 2013 7:02am Jan 9, 2013 7:02am
Quoting rafstraszek
Hey - he didn't write anything about "success as a trader"...he just congratulated the number of posts...we also give our best when somebody have birthdays, or when we have christmas or whatever...not everything has to be about trading...

Good work Pinbar and keep posting You are valuable part of this thread.

I should put Edgy on my ignore list.
Honestly, I would if he were not so entertaining.

Thanks for all the moral support people but, please don't get drawn into a flaming match with Edgy.
Of course, this is his or her purpose. Not sure which it is actually, probably a hormone thing.
  • #122,242
  • Jan 9, 2013 7:09am Jan 9, 2013 7:09am
Quoting hally0301
Hi Guys
Have been reading through the thread for a couple of weeks. Started at the beginning and a couple of hundred pages in. Only a couple of thousand to go!! LOL
Anyway my question is that I would like to read some more about PPZ's. Have a general idea from working my way through the thread and am continuing to work my way through.
Also working on getting into the PF when funds allow. I read that the website is being updated. Any idea when and if there will be a price change when that happens?
thanks
hally

Did you watch the introduction to Pivot Zones video in the guest area?
  • #122,243
  • Jan 9, 2013 7:27am Jan 9, 2013 7:27am
Hi guys,

I would have a bit special quation for you again.
Learning your price action methods I luckily managed to train myself to quite a good level with using "traditional James16 method", only trading pinbars, engulfings and very rarely inside bars (just like GBPUSD and USDNOK nowadays, attached). I am also learning the touch tarding methodology of Mr Jarro and I am satisfied with its result so far but I am far from going to a live account with it yet.
That's why I put bigger energy into the application of "traditinal James16 method" presently.
But anyway If I monitor 40-50 Forex pairs (majors, minors and exotics) day by day on daily and weekly charts finding more than 4-5 excellent entry signals (like the attached GBPUSD and USDNOK) in a month is not probable. Approximately that mean maximum 3 RR profit in a month but most of the times 1-2 RR is more significant according to my experiences (2-5% if I risk 2% per trades).
Of course I am absolutely satisfied with that and have great respect for your activity for this.
Applying Jarro's method with more self-confidence will provide me a lot of excellent entry signals, but until I am not ready for that I would like to make other developments.
I started to think on making a real account at a CFD BROKER (or a Forex broker offering many opportunity to trade CFD, metas, indexes etc) to be able to monitor much more pairs a days. (for example 100 more CFD pairs beside the now monitored 50 Forex pairs would be performable, if I search for only the mentioned J16 signals).
I am not too qualified at CFD-s but when I started to make deeper invetigation in converting this system into CFD trading I discovered a lot of new other problems. (more limited positon making, serious "gap risk", much more margin requirements, much lower leverage etc.)

So for me working in CFD markets would practically mean to learn the rules of a new world and I don't know if this system is totally convertable into that world at all.
Of course there are ppz-s, round numbers, engulfings, pinbars etc in CFD markets also.
But I don't know if there are "special CFD problems" which could make me serious troubles in application of this system in the "CFD world".

I didn't really see posting you CFD trade example-s on this forum.
Maybe this is not just an "accident".

So I would like to ask for your openion about the idea of applying the "traditional J16 method" in cfd trading. Do you think there is any point in that at all?


Thank you in advance for any help you can provide,
Microtrader
Attached Image(s) (click to enlarge)
Click to Enlarge Name: gbpusd pin bar.gif Size: 15 KB
Click to Enlarge Name: usdnok pinbar.jpg Size: 176 KB
  • #122,244
  • Jan 9, 2013 7:27am Jan 9, 2013 7:27am
Second trade of the year:
Attached Image (click to enlarge)
Click to Enlarge Name: 11.png Size: 40 KB

Attached Image (click to enlarge)
Click to Enlarge Name: 2.png Size: 39 KB
  • #122,245
  • Jan 9, 2013 7:35am Jan 9, 2013 7:35am
Quoting Microtrader_
Hi guys,

I would have a bit special quation for you again.
Learning your price action methods I luckily managed to train myself to quite a good level with using "traditional James16 method", only trading pinbars, engulfings and very rarely inside bars (just like GBPUSD and USDNOK nowadays, attached). I am also learning the touch tarding methodology of Mr Jarro and I am satisfied with its result so far but I am far from going to a live account with it yet.
That's why I put bigger energy into the application of "traditinal James16 method"...
Expanding outside forex is a very good idea. I've heard most professionals don't even trade forex. Can't bet on that thesis, but it's definitely something to think about
You have 2 options concerning gaps:
1 - play intraday, within open market.
2 - play weekly TF, where gaps don't matter much.
  • #122,246
  • Jan 9, 2013 8:08am Jan 9, 2013 8:08am
Quoting Rust
Expanding outside forex is a very good idea. I've heard most professionals don't even trade forex. Can't bet on that thesis, but it's definitely something to think about
You have 2 options concerning gaps:
1 - play intraday, within open market.
2 - play weekly TF, where gaps don't matter much.

Hi Rust,

Thanks for your quick reply, but what to do if:

1. Intraday I am unable to trade because I am not a professional trader I have to work at daytime....
(I am in Europe and when London stocks opens I hyev to already be at my workplace or at a bus...)

2. Well I would definitely be able to trade on weekly charts but only these entry signals (tradeable pinbar and engulfing) are quite rare on that...

So if you have other ideas what to do, don't hesitate to write it
  • #122,247
  • Jan 9, 2013 8:20am Jan 9, 2013 8:20am
Quoting Microtrader_
Hi Rust,

Thanks for your quick reply, but what to do if:

1. Intraday I am unable to trade because I am not a professional trader I have to work at daytime....
(I am in Europe and when London stocks opens I hyev to already be at my workplace or at a bus...)

2. Well I would definitely be able to trade on weekly charts but only these entry signals (tradeable pinbar and engulfing) are quite rare on that...

So if you have other ideas what to do, don't hesitate to write it
Hi Microtrader

you may want to have a look at Aserbfx charts. He trades quite a lot of ... non Fx stuff... (stocks? CFDs?)
anyway, many seasoned traders would tell you "a chart is a chart so let's trade it using PA".

take care
Slow & steady
  • #122,248
  • Jan 9, 2013 8:32am Jan 9, 2013 8:32am
Quoting Nake
Hi Mike, What do you think about this pair? Test trendline and BEOB
Attachment
Hey Nake

It certainly makes sense but I would like to see a better TL that had a better bounce before price closed below it. Some more confluence then just a TL as well. Not wrong, just how I am picky with that stuff

Best
Mike
  • #122,249
  • Jan 9, 2013 8:37am Jan 9, 2013 8:37am
Quoting patapouer
Hi Microtrader

you may want to have a look at Aserbfx charts. He trades quite a lot of ... non Fx stuff... (stocks? CFDs?)
anyway, many seasoned traders would tell you "a chart is a chart so let's trade it using PA".

take care
I watch 3000 equities on the weekly chart. This offers a lot more opportunities outside FX. I would suggest looking into equities/futures whatever other markets may interest you. I can't comment on CFDs as they are illegal in the US

Best
Mike
  • #122,250
  • Jan 9, 2013 8:42am Jan 9, 2013 8:42am
Quoting patapouer
Hi Microtrader

you may want to have a look at Aserbfx charts. He trades quite a lot of ... non Fx stuff... (stocks? CFDs?)
anyway, many seasoned traders would tell you "a chart is a chart so let's trade it using PA".

take care

Thanks Patapouer, I hope that studying Asberfx' work will help some.

Best
Microtrader
  • #122,251
  • Jan 9, 2013 8:56am Jan 9, 2013 8:56am
Quoting mbqb11
I watch 3000 equities on the weekly chart. This offers a lot more opportunities outside FX. I would suggest looking into equities/futures whatever other markets may interest you. I can't comment on CFDs as they are illegal in the US

Best
Mike

3000 equities on weekly chart? Incredible.
Thanks Mike, this can definitely help me.
I didn't think weekly charts can be so different in "gap risk" on nonFX markets.

Microtrader
  • #122,252
  • Jan 9, 2013 8:56am Jan 9, 2013 8:56am
Quoting mbqb11
I watch 3000 equities on the weekly chart. This offers a lot more opportunities outside FX. I would suggest looking into equities/futures whatever other markets may interest you. I can't comment on CFDs as they are illegal in the US

Best
Mike
poor you, there outside its my dream cant comment illegal CFDs and live in florida..
  • #122,253
  • Jan 9, 2013 9:29am Jan 9, 2013 9:29am
Quoting Microtrader_
Hi Rust,

Thanks for your quick reply, but what to do if:

1. Intraday I am unable to trade because I am not a professional trader I have to work at daytime....
(I am in Europe and when London stocks opens I hyev to already be at my workplace or at a bus...)

2. Well I would definitely be able to trade on weekly charts but only these entry signals (tradeable pinbar and engulfing) are quite rare on that...

So if you have other ideas what to do, don't hesitate to write it
Well i can't say what's best for you, but one option is to expand the markets you watch. Mike watches 3000 stocks as overwhelming as it sounds!
Other option - some brokers offer guaranteed stop, but it comes at a price.

I'm not saying that trading profitable is impossible, having a full time job at the same time. But at least if your idea is to make money and not just having fun, it's a time consuming business. I believe it's good to have that in mind
  • #122,254
  • Jan 9, 2013 10:19am Jan 9, 2013 10:19am
Quoting Microtrader_
Hi Rust,

Thanks for your quick reply, but what to do if:

1. Intraday I am unable to trade because I am not a professional trader I have to work at daytime....
(I am in Europe and when London stocks opens I hyev to already be at my workplace or at a bus...)

2. Well I would definitely be able to trade on weekly charts but only these entry signals (tradeable pinbar and engulfing) are quite rare on that...

So if you have other ideas what to do, don't hesitate to write it
I am working whole day too(and even more... often I work till late night). I am using 4H Daily Weekly charts...mainly Daily. its quite enough believe me. Main my tradingwork is at midnight / i am in East Europe/. It takes me about 20-30 min to decide in which pairs I am interested. Then I post pending orders and go sleep. Next day I watch outcome of my midnight work every 4 hours through my mobile application -it takes 5min or less, and sometimes sit to my PC for few minutes when I have time to do that. Of course I am my own boss so my case maybe little different then Yours, but principle is the same. I dont sit at my screen whole day. So I trade max 1 Hour per day Of course I am not professional. Just little fat bear
all is eternal - this is good news for people who loves bad news
  • #122,255
  • Jan 9, 2013 12:17pm Jan 9, 2013 12:17pm
Mikes theme song lol

I like big bars and I cannot lie
You other j16 brothers can't deny
That when a big bar prints with a lot space
With a long tail on a retrace
You get sprung
Price is beautiful. A repetitive method is a competitive method.
  • #122,256
  • Jan 9, 2013 12:40pm Jan 9, 2013 12:40pm
Quoting mbqb11
I watch 3000 equities on the weekly chart. This offers a lot more opportunities outside FX. I would suggest looking into equities/futures whatever other markets may interest you. I can't comment on CFDs as they are illegal in the US

Best
Mike
Hey Boss,

May I ask which platform allows you to trade with (3000 as you mentioned) shares, commodities, indices, etfs...? Cause im with alpari at the moment, and they offer only forex and some commodities...
It's all psychology...
  • #122,257
  • Jan 9, 2013 12:52pm Jan 9, 2013 12:52pm
Quoting nwo-trader
Mikes theme song lol

I like big bars and I cannot lie
You other j16 brothers can't deny
That when a big bar prints with a lot space
With a long tail on a retrace
You get sprung
LMFAO!!!
  • #122,258
  • Jan 9, 2013 12:52pm Jan 9, 2013 12:52pm
Quoting LamerTrader
Hey Boss,

May I ask which platform allows you to trade with (3000 as you mentioned) shares, commodities, indices, etfs...? Cause im with alpari at the moment, and they offer only forex and some commodities...
I scan them through ThinkorSwim

Best
Mike
  • #122,259
  • Jan 9, 2013 2:32pm Jan 9, 2013 2:32pm
Quoting mbqb11
I scan them through ThinkorSwim

Best
Mike
Aham, I see, and do you trade with that as wall or do you trade with other clients as well?

2) Isn't that a weak bearish inside bar up there? /See pic/


Thanks,
Stephen
Attached Image (click to enlarge)
Click to Enlarge Name: Capture.PNG Size: 45 KB
It's all psychology...
  • #122,260
  • Jan 9, 2013 3:10pm Jan 9, 2013 3:10pm
Quoting Pinbar
Did you watch the introduction to Pivot Zones video in the guest area?
Not yet Pinbar. Still finding all the different areas of the forum and concentrating mostly on this thread at the moment. Not enough hours in the day!! LOL. And definitely not enough hours in the day to get involved in a slanging match with your friend!!

cheers

hally
Learning for Earning and Trading for Freedom
32 traders viewing now