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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

  • #127,221
  • Aug 10, 2013 12:53pm Aug 10, 2013 12:53pm
Quoting Fx-chriz
{quote} for a daily chart what number of points do you suggest as a tailing stop.
Hi,
There are numerous ways of trailing stops.you can use a 1 or 2 bars buffer, or a fixed amount of pips (but which may not be relevant regarding throne specificity of each situation ), or use a volatility based trailing stop , or place your sl behind RN or ppz.
And damn I can't find a post I bookmarked .... will come back later... when I'll be at my laptop

Cheers
Slow & steady
  • #127,222
  • Aug 10, 2013 4:13pm Aug 10, 2013 4:13pm
Quoting patapouer
{quote} Hi, There are numerous ways of trailing stops.you can use a 1 or 2 bars buffer, or a fixed amount of pips (but which may not be relevant regarding throne specificity of each situation ), or use a volatility based trailing stop , or place your sl behind RN or ppz. And damn I can't find a post I bookmarked .... will come back later... when I'll be at my laptop Cheers
correct ... many different ways to trail a stop. My personal favourites are dependant on whether or not im at the charts. If im at the charts a simple trendline is the best way to manually trail my stop (based on my method of trading) If im away from the charts I trail my stops based on 1 times my risk in pips. If a 2% trade = 20 pips I will set a trailing stop of 20 pips. However I only do this once my trade is aleady at BE (which is done at 1:2 risk reward). These 2 methods might not be the best but they work for me very well in regards to my method.

Cheers
Dan
  • #127,223
  • Aug 10, 2013 6:21pm Aug 10, 2013 6:21pm
Quoting str8
{quote} Does james16 play 2 day pinbars? I've found a 2 day pin bar on CADCHF (it also has divergence I think) but I'm afraid not a lot of traders watch 2 day charts (not even Metatrader5 has this chart). {image}

I have a weekly bullish pin on CADCHF at an area of support. All my CHF pairs seem to be headed south
  • #127,224
  • Aug 10, 2013 6:35pm Aug 10, 2013 6:35pm
Still in AUDCHF long @ .8284 since Wednesday. Nice monthly support area too......up ,up and away
  • #127,225
  • Aug 11, 2013 2:33am Aug 11, 2013 2:33am
Quoting dan89
{quote} correct ... many different ways to trail a stop. My personal favourites are dependant on whether or not im at the charts. If im at the charts a simple trendline is the best way to manually trail my stop (based on my method of trading) If im away from the charts I trail my stops based on 1 times my risk in pips. If a 2% trade = 20 pips I will set a trailing stop of 20 pips. However I only do this once my trade is aleady at BE (which is done at 1:2 risk reward). These 2 methods might not be the best but they work for me very well in regards...
sounds interesting Dan

Here is the post I was looking for:
http://www.forexfactory.com/showthre...67#post2877067
Bemac's view on full TP Vs trailing stop, and the way he may trail his stop. Never tested this (in fact I came across this post yesterday...) but worth thinking about it imo.

take care
Slow & steady
  • #127,226
  • Aug 11, 2013 4:55am Aug 11, 2013 4:55am
Waiting for a price action retest on EURAUD:
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  • #127,227
  • Aug 11, 2013 5:38am Aug 11, 2013 5:38am
Was just looking through some old james16 forumposts/webinars when...
Its weird that ppl talk about A+ setups howevet time to time james posts B, C ones as well. I guess I have to learn how to trade them. 130 MAJOR BRN after breaking it we never had a proper retest. (Lately I noticed that after breaking HUGE levels its good to expect some rounded retest or sg.)

Honestly the two setups are very similar at some points. In both cases we have a low that hangs out (from that pinnish thing)

OPINIONS?
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It's all psychology...
  • #127,228
  • Aug 11, 2013 6:26am Aug 11, 2013 6:26am
Why is it such a great setup. Damn I feel like a dumb kid, as if i were missing something here.
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It's all psychology...
  • #127,229
  • Aug 11, 2013 6:35am Aug 11, 2013 6:35am
And EURGBP
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  • #127,230
  • Aug 11, 2013 7:44am Aug 11, 2013 7:44am
Quoting LamerTrader
@Mike@ Others Do you guys know a place where I can start demoing with futures? I just need a platform or a place where I can see charts and add some lines / notes just like mt4. Thanks. Stephen
Lamer,

The Thinkorswim platform has this capability and they have the option to demo. I'll admit that the charting is a bit clunky/ confusing to me who has only used mt4 for trading but a few weeks in of demoing stocks and futures, I am slowly getting used to it.

just beware the futures market is no joke and you can have some crazy volitlity so you should definitely be demoing before going live.
  • #127,231
  • Aug 11, 2013 8:31am Aug 11, 2013 8:31am
Quoting dmc
{quote} Lamer, The Thinkorswim platform has this capability and they have the option to demo. I'll admit that the charting is a bit clunky/ confusing to me who has only used mt4 for trading but a few weeks in of demoing stocks and futures, I am slowly getting used to it. just beware the futures market is no joke and you can have some crazy volitlity so you should definitely be demoing before going live.
I'm far from going live but thanks for the information.
Could you describe futures me in a few sentences? Cause what I noticed at forex is that on lower TFs price is usually doing nothing and then bamm, some news and some huge bars. james was trading his PA on miniD 5M and I was wondering if there are better PA bars on futures at lower TF.

Thanks,
Stephen
It's all psychology...
  • #127,232
  • Aug 11, 2013 11:21am Aug 11, 2013 11:21am
Quoting str8
{quote} Does james16 play 2 day pinbars? I've found a 2 day pin bar on CADCHF (it also has divergence I think) but I'm afraid not a lot of traders watch 2 day charts (not even Metatrader5 has this chart). {image}

I'm in also. But its a sideways market. I moved me SL below the left eye and will TP at FTA.
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If not up, then down, otherwise sideways :-)
  • #127,233
  • Aug 11, 2013 11:27am Aug 11, 2013 11:27am
Quoting bee24
Does anyone make sense of 2-day pinbar formed on EURCAD? What do you guys think? {image}
I could be wrong but I think these pinbars could signal a false break of that swing high. This means that maybe price won't have so much difficulty to break the former swing high because the former swing high won't turn into support and that pair also had bearish divergence.
  • #127,234
  • Aug 11, 2013 11:30am Aug 11, 2013 11:30am
Think I'm gonna play the weekly pin bar on cadchf, sorry that i haven't posted a chart but somethings wrong with my print screen.

But someone to comment on the chart would be nice.

Chris,
  • #127,235
  • Aug 11, 2013 11:34am Aug 11, 2013 11:34am
Quoting LamerTrader
Was just looking through some old james16 forumposts/webinars when... Its weird that ppl talk about A+ setups howevet time to time james posts B, C ones as well. I guess I have to learn how to trade them. 130 MAJOR BRN after breaking it we never had a proper retest. (Lately I noticed that after breaking HUGE levels its good to expect some rounded retest or sg.) Honestly the two setups are very similar at some points. In both cases we have a low that hangs out (from that pinnish thing) OPINIONS? {image} {image} {image}
My opinion about B,C setups is that you need a bigger reward risk ratio because it's hard to have a high win rate with them.
If you play a A+ setup it can have a very high win rate and you can choose if you wish to have a low reward risk ratio (you can also choose to have lower win rate and higher RR) but with less quality setups or with touch trading I think it's impossible to have a high win rate (otherwise they wouldn't be B,C trades) and you should look to have higher RR in order to be profitable.
  • #127,236
  • Aug 11, 2013 12:27pm Aug 11, 2013 12:27pm
Quoting aserbfx
us stocks on weekly: phm with strong close in downtrend yum with possible breakout above 75 usd {image} {image}
yum looks good, will be watching for PA on that one too
  • #127,237
  • Aug 11, 2013 12:29pm Aug 11, 2013 12:29pm
Quoting LamerTrader
Wondering if anyone has experimented with such megabars... @Mike, @james16 @pinbar @jarroo {image}
Hey Stephen

Everyone knows I love big bars, I can not lie lol

But yes location and story is always crucial

Best
Mike
  • #127,238
  • Aug 11, 2013 12:36pm Aug 11, 2013 12:36pm
Quoting LamerTrader
@Mike@ Others Do you guys know a place where I can start demoing with futures? I just need a platform or a place where I can see charts and add some lines / notes just like mt4. Thanks. Stephen
Hey Stephen


Check out thinkorswim

Best
Mike
  • #127,239
  • Aug 11, 2013 12:43pm Aug 11, 2013 12:43pm
Quoting mbqb11
{quote} Hey Stephen Everyone knows I love big bars, I can not lie lol But yes location and story is always crucial Best Mike
we certainly won't try to deny it...
  • #127,240
  • Aug 11, 2013 1:18pm Aug 11, 2013 1:18pm
Random off question:
Do you know which was james16's favorite NBA team? Im sure something with Texas but cant' remember exactly
Thanks,
Stephen
It's all psychology...
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