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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

  • #127,461
  • Aug 23, 2013 1:20pm Aug 23, 2013 1:20pm
@ patapouer, mbqb11, LamerTrader
I am immensely thankful to you all for replying. Yes I will start reading the thread from the beginning. But certainly it will take few weeks may months to understand how you people are using PA. I have gone through the books & video series of Steve Nison on Candlesticks. But although he explain the psychology behind the candles in an accurate manner. He leaves a lot of things for the user to modify and apply them to their trading. He asks us to use western technical indicators along with the Japanese candles to confirm entries and exits. Whereas in my humble opinion, its better and more fruitful to use naked charts.

@ ghous
I am astonished that you have achieved such expertise in just 23 years and have been vouched by 40 individuals, hats off to you. I am from Hyderabad. There are many reasons for which I am desperate to learn Forex. The options in my life are very limited. Nowadays, I am quite busy with provincial civil service exam PCS. As soon as I will get free from its papers I will again concentrate on Forex. I would definitely need your help in future.

TC All
  • #127,462
  • Aug 23, 2013 2:43pm Aug 23, 2013 2:43pm
Quoting blessedtj
It is a great blessing for me to have stumble on this tread. I have been trading for some time now but losing, while looking for a good way to trade, i came across this tread yesterday. i tried reading from the beginning of the tread but notice i wont finish it till next year. i am a lover of price action trading but with not full understanding of the system. Yes, i make an analysis on GPBJPY. but i want to know if what i am doing is right. i intend to sell GPBJPY, if the candle closes like this by the end of today. {image}
hey blessedtj your box looks good to me but i think the pinbar is small but with good confluence and it trades into an FTA coupled with a RN. A pass for me cos i would rather look for a bullish PA after the box breakout.

AL.
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  • #127,463
  • Aug 24, 2013 1:52am Aug 24, 2013 1:52am
Quoting Samar Ellahi
@ patapouer, mbqb11, LamerTrader I am immensely thankful to you all for replying. Yes I will start reading the thread from the beginning. But certainly it will take few weeks may months to understand how you people are using PA. I have gone through the books & video series of Steve Nison on Candlesticks. But although he explain the psychology behind the candles in an accurate manner. He leaves a lot of things for the user to modify and apply them to their trading. He asks us to use western technical indicators along with the Japanese candles to...
Cool stuff.

We are right here whenever you can find some time for FX.

g.
I believe . . .
  • #127,464
  • Edited 3:22am Aug 24, 2013 3:00am | Edited 3:22am
@ ghous & mbqb11

Please can you tell me the names of member whose posts are considered as authentic and informative for J16 method?
Also tell me the minimum number of pages required for v.good understanding of the framework of J16 method?

I have big plans to learn the J16 method, like going through the entire thread. But, most members would not know/use this method as exactly as James created and uses it. I don't want myself to learn what was added by other individuals. So far by going back from few last pages, I have sorted following:
Ghous and mbqb11 along with the legendary James

I had got to know about James16 method but when I had visited this thread some 1 year ago I was haunted by the size of the thread. So just overlooked it. Now after having the pains of repeatedly failures, I am finally at the same place where I was last year. But, I have learn a lot in this year.

One has rightly said that, pleasure only comes after the pains.
  • #127,465
  • Aug 24, 2013 3:15am Aug 24, 2013 3:15am
Quoting Samar Ellahi
Hello All, This is my first post. Although I am new on this forum, but I have been trying for last 1.5 years to become profitable on demo trading. But I have always been on the losing side. I have been trying one strategy after another, but have never been profitable with anyone. There is another problem that I don't have any mentor to help me when I feel problem, who's live trading could I analyse and understand. This is because there is dearth of Forex traders in my country Pakistan. So, what is wrong with me? Is is that I can not learn trading...
I also would like to add some words or encouraging. I'm on this thread for 2 years. And I can tell you that understanding of what price do now and what was in 2011 is like heaven and hell. I was lucky to find this thread only after 1 year after I learnt what is forex. Be patient and learn, learn, learn. You can make it, If you like this stuff. According to my expirience in this huge thread the best way to get intouch with it is to read all the links on important posts in post 1, then the first few hundred of pages of the tread. You will know the most of the terminalogy after this. Then stick to the current discussions. It will be much easier to understand what we are talking about. Dont be shy to ask. You will ALWAYS have an answer here.
If not up, then down, otherwise sideways :-)
  • #127,466
  • Aug 24, 2013 6:07am Aug 24, 2013 6:07am
something to watch....


jon
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PATIENCE... DISCIPLINE
  • #127,467
  • Aug 24, 2013 7:29am Aug 24, 2013 7:29am
Mike, what do you think of this break out BUOB from AUD CHF that happened a few months ago?
I didn't trade break out outside bars at that time but now I would have traded it. It had nice space but it didn't work well.

If you have traded it would you have kill the trade after the first 2 bars? Is this a situation where you want a fast break?
I want to know how to approach in the future continuation OB (if it's good to cancel the trade if I don't have a quick break). Thank you in advance.
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  • #127,468
  • Aug 25, 2013 2:31am Aug 25, 2013 2:31am
USDCAD daily looks good.

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  • #127,469
  • Aug 25, 2013 4:34am Aug 25, 2013 4:34am
Might get trapped at 1.048 if you are planning to enter near low of pinbar
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  • #127,470
  • Aug 25, 2013 4:38am Aug 25, 2013 4:38am
Quoting str8
Mike, what do you think of this break out BUOB from AUD CHF that happened a few months ago? I didn't trade break out outside bars at that time but now I would have traded it. It had nice space but it didn't work well. If you have traded it would you have kill the trade after the first 2 bars? Is this a situation where you want a fast break? I want to know how to approach in the future continuation OB (if it's good to cancel the trade if I don't have a quick break). Thank you in advance. {image}
Hi

I'm not Mike, so this is just my opinion.

First of all the BUOB is ok and the continuation play has good places to manage the trade, so the story is there
I think there are two logical places to manage the trade. Which one you choose depends on what type of trader you are.

You could have closed the trade after that third bearish bar after the BUOB.

Or you could have waited for the retrace to 61.8 fib/ that blue line. And acted depending how price would react there.

So in both cases you should have gotten out with small loss or about BE.

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  • #127,471
  • Aug 25, 2013 4:40am Aug 25, 2013 4:40am
Altria group Inc.
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  • #127,472
  • Aug 25, 2013 10:26am Aug 25, 2013 10:26am
Quoting blessedtj
It is a great blessing for me to have stumble on this tread. I have been trading for some time now but losing, while looking for a good way to trade, i came across this tread yesterday. i tried reading from the beginning of the tread but notice i wont finish it till next year. i am a lover of price action trading but with not full understanding of the system. Yes, i make an analysis on GPBJPY. but i want to know if what i am doing is right. i intend to sell GPBJPY, if the candle closes like this by the end of today. {image}
Hi blessedtj! I also noticed this pinbar, it looks great (by itself) to me also but I think I would lock some profits before the area you pointed out.
In the chart I attached, I highlighted the first trouble area the price will approach, if it starts to fall.
I noticed also that in this sideway market, lately pinbars haven't been that much reliable; look at the arrows I drew on the chart...Particularly the last arrow: the price broke the pin the next day but stopped in the FTA where you can see lots of highs.
I am tempted to enter like you said but I think that, if I was trading with real money, I wouldn't consider this a sure winner.

I am guessing, would it be safer to wait for the price to test the first eye of the pin and then enter the trade when it reverses?

Hope to hear your thoughts!
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  • #127,473
  • Aug 25, 2013 10:28am Aug 25, 2013 10:28am
Quoting Samar Ellahi
@ ghous & mbqb11 Please can you tell me the names of member whose posts are considered as authentic and informative for J16 method? Also tell me the minimum number of pages required for v.good understanding of the framework of J16 method? I have big plans to learn the J16 method, like going through the entire thread. But, most members would not know/use this method as exactly as James created and uses it. I don't want myself to learn what was added by other individuals. So far by going back from few last pages, I have sorted following: Ghous and...
Hey Samar

I'd start with post one and just slowly start to make your way through. It's easier than jumping around too much. You'll start to get a feel for who knows what they are talking about. Pay particular attention to James posts as you said. Just jump on in and it won't feel as overwhelming as you think by looking at the overall thread count


Best of luck
Mike
  • #127,474
  • Aug 25, 2013 10:47am Aug 25, 2013 10:47am
Quoting rami_8
{quote} Hi I'm not Mike, so this is just my opinion. First of all the BUOB is ok and the continuation play has good places to manage the trade, so the story is there I think there are two logical places to manage the trade. Which one you choose depends on what type of trader you are. You could have closed the trade after that third bearish bar after the BUOB. Or you could have waited for the retrace to 61.8 fib/ that blue line. And acted depending how price would react there. So in both cases you should have gotten out with small loss or about BE....
This is great Rami, minimizing our losses is really one of the key factors to success no matter the style

The reason I would pass on this trade or take a small loss(under the first two bars) if anything is right above us is Parity BRN of 1.0000. This is a very tough number to ever trade into as it's almost always a PPZ


Best
Mike
  • #127,475
  • Aug 25, 2013 11:01am Aug 25, 2013 11:01am
Quoting fascist
USDCAD daily looks good. {image}
Hey fascist,
Im liking usd/cad too. I'm waiting for a retest back to 1.045 to 1.042 area. I think it might be interesting to see what happens there.

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Rolo
The Eyes Believe What They See And The Ears Believe What Others Say.
  • #127,476
  • Aug 25, 2013 12:18pm Aug 25, 2013 12:18pm
Quoting gianmarco
{quote} Hi blessedtj! I also noticed this pinbar, it looks great (by itself) to me also but I think I would lock some profits before the area you pointed out. In the chart I attached, I highlighted the first trouble area the price will approach, if it starts to fall. I noticed also that in this sideway market, lately pinbars haven't been that much reliable; look at the arrows I drew on the chart...Particularly the last arrow: the price broke the pin the next day but stopped in the FTA where you can see lots of highs. I am tempted to enter like you...
thanks for you guys [albus999 and gianmarco}
i am in the learning process, most of what u noted, i have never been aware of especially the meaning of FTA and RN. I think i need to read through this tread for better understanding.
thanks.
  • #127,477
  • Aug 25, 2013 12:59pm Aug 25, 2013 12:59pm
Quoting Samar Ellahi
@ ghous & mbqb11 Please can you tell me the names of member whose posts are considered as authentic and informative for J16 method? Also tell me the minimum number of pages required for v.good understanding of the framework of J16 method? I have big plans to learn the J16 method, like going through the entire thread. But, most members would not know/use this method as exactly as James created and uses it. I don't want myself to learn what was added by other individuals. So far by going back from few last pages, I have sorted following: Ghous and...
Totally agree with what Mike suggested.

The best way to go about it would be to start off with post number 1 and roll along from there. I'd say the first maybe 500 pages or so should give you a fair enough idea of what we are trying to do here. As for the specific people here whom you would like to follow, there really aren't a handful few. All through the years that this thread has grown, it has seen tonnes of blessed souls, some which are around till today and some that have moved on /are busy elsewhere now. But again to resonate Mike's suggestion, just read through the initial pages and you would know soon enough whose posts you need to really follow.

Good luck with your exams.

g.
I believe . . .
  • #127,478
  • Aug 25, 2013 1:23pm Aug 25, 2013 1:23pm
Quoting g_j_hook@yah
something to watch.... jon {image}
hello gj
what will u do?
will u rather wait for a retest at 1.6400 before u go short or ....
  • #127,479
  • Aug 25, 2013 3:06pm Aug 25, 2013 3:06pm
Quoting ghous
Totally agree with what Mike suggested.

The best way to go about it would be to start off with post number 1 and roll along from there.

I'd say the first maybe 500 pages or so should give you a fair enough idea of what we are trying to do here.

As for the specific people here whom you would like to follow, there really aren't a handful few.
greetings,

has any person that uses this james16 trading strategy/methodology ever made a profit?

lets see a show of hands.

no, wait, lets see your trade explorer,lmfao.

one more issue, might one of you be so kind as to show to me a condensed version of this strategy, preferably in the form of a flow chart?

i will wait right here while you run and get that flow chart.

contact zero 510-684-1114
  • #127,480
  • Aug 25, 2013 4:36pm Aug 25, 2013 4:36pm
hello.
what do you think about it ?
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