james16 Chart Thread | Page 6395 | 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

  • #127,881
  • Sep 23, 2013 4:05pm Sep 23, 2013 4:05pm
95% of the people (not counting james, MPQ11 or his staff from his PAID forum) posting in the first FEW HUNDRED pages of this thread vanished completely...

Why would that happen? They never reported back either.. They just vanished. They were so enthusiastic talking about forex, pricefiction, etc... and overnight they VANISH COMPLETELY... I always wonder why would that happen.. I see this a lot in this forum, people just vanish. Check members from a few years ago, 95+% of them, none of them are here...
The Black Swan: The Impact of the Highly Improbable
  • #127,882
  • Sep 23, 2013 4:33pm Sep 23, 2013 4:33pm
Quoting MapleLeaf
95% of the people (not counting james, MPQ11 or his staff from his PAID forum) posting in the first FEW HUNDRED pages of this thread vanished completely... Why would that happen? They never reported back either.. They just vanished. They were so enthusiastic talking about forex, pricefiction, etc... and overnight they VANISH COMPLETELY... I always wonder why would that happen.. I see this a lot in this forum, people just vanish. Check members from a few years ago, 95+% of them, none of them are here...
More importantly this thread has been going strong since June17, 2005. How many threads can say that? It's not uncommon for aspiring traders to come and go from ALL threads. I think if you did some more OBJECTIVE fact finding MapleLeaf you would find that 95% of the people VANISH COMPLETELY from most threads. Actually probably 95% of most threads disappear. The enduring nature of this thread which is currently largely due to Mike's commitment and contributions says more than those who have come and gone. What does it matter who has come and gone?
  • #127,883
  • Sep 23, 2013 4:46pm Sep 23, 2013 4:46pm
Quoting Winston Reed
{quote} More importantly this thread has been going strong since June17, 2005. How many threads can say that? It's not uncommon for aspiring traders to come and go from ALL threads. I think if you did some more OBJECTIVE fact finding MapleLeaf you would find that 95% of the people VANISH COMPLETELY from most threads. Actually probably 95% of most threads disappear. The enduring nature of this thread which is currently largely due to Mike's commitment and contributions says more than those who have come and gone. What does it matter who has come...
thanks for the nice words winston


The fact is many will always come and go, that's both the nature of this business and more so the nature of life. Think about how much peoples lives change from year to year. I know mine has

But we do have many old members of this thread that are still in the PF they just choose to hang exclusively there

Changes are good though , and many more to come here over time

Mike
  • #127,884
  • Sep 23, 2013 4:47pm Sep 23, 2013 4:47pm
Quoting MapleLeaf
95% of the people (not counting james, MPQ11 or his staff from his PAID forum) posting in the first FEW HUNDRED pages of this thread vanished completely... Why would that happen? They never reported back either.. They just vanished. They were so enthusiastic talking about forex, pricefiction, etc... and overnight they VANISH COMPLETELY... I always wonder why would that happen.. I see this a lot in this forum, people just vanish. Check members from a few years ago, 95+% of them, none of them are here...

Could it be that the ones that have left this thread have done one or all the following

blown their account
blown their account and decided to buy property or other investment
chased after some other strategy other than learn this one well
developed their own strategy based on this one and exclusively trading that one
become an FF commercial poster and therefore cannot post on this thread
other reasons that dont come to mind right now

lots of other reasons - all very individual

Olu
If you think you can or cannot do it you are correct
  • #127,885
  • Sep 23, 2013 5:27pm Sep 23, 2013 5:27pm
Quoting Olu
{quote} Could it be that the ones that have left this thread have done one or all the following blown their account blown their account and decided to buy property or other investment chased after some other strategy other than learn this one well developed their own strategy based on this one and exclusively trading that one become an FF commercial poster and therefore cannot post on this thread other reasons that dont come to mind right now lots of other reasons - all very individual Olu
It matters not what happened to past members. What matters is the discussion of trading set ups today ! What matters is what the thread veterans (MBQ11 etc) discuss today and whose past contributions to this gargantuan thread are available to the researcher of trading approaches today.
every Saint has a past. Every Sinner has a Future
  • #127,886
  • Sep 23, 2013 6:26pm Sep 23, 2013 6:26pm
Quoting turnip15
{quote} It matters not what happened to past members. What matters is the discussion of trading set ups today ! What matters is what the thread veterans (MBQ11 etc) discuss today and whose past contributions to this gargantuan thread are available to the researcher of trading approaches today.

Good point...

Olu
If you think you can or cannot do it you are correct
  • #127,887
  • Sep 23, 2013 9:57pm Sep 23, 2013 9:57pm
Once a person proves to himself/herself that trading can and is a business that produces real wealth, there is not a lot of point hanging around a forum unless you are invited to moderate, or you have a strong desire to teach others. The latter can be very frustrating at times because so many traders will acknowledge a good method, play along for awhile, and then do it their own way in the end. Of course like was pointed out earlier, an A+ trade for one, may only be a C+ trade for another, or someone trading with 5000.00 will look at things quite different from a person trading with 100,000.00. A gambler throws caution to the wind and can seldom be taught anything relative to real trading as he/she is looking for the big kill, the thrill of the hunt, the need to be right etc etc.and an ego to match. So, trading is as individual as their are traders and the result is they come, and they go, like any company, club, school, fraternity or community.

I "sneak" in once a week or so just to read over comments made by Mike and some of his longtime colleagues just to make sure I am staying on top of methods proven over and over to work, month in and month out. I need to stay on track because old habits sneak back in periodically and I have to review in my mind how to draw a box, where is the FTA, the PPZ and what constitutes a strong break with room to run and so on and so on. But I do not post a lot, nor am I high profile poster...but I have been watching these selfless moderators since 2009 and I can only say THANK YOU. I wonder where the hell I would be without the guidance provided in this forum.....I have a feeling many share my feelings on this since we are now on page 6396....outstanding!
  • #127,888
  • Sep 24, 2013 5:05am Sep 24, 2013 5:05am
Hi every1. PLs mike, Ghous, Turnlip15, AL, what do you think abou this EURNZD trade which i am in presently. My tought process is explain on the chart below. you can also check on the daily to see what further made my story stronger. I was just wondering how long i can hold a trade like dis based on my 4H entry.thanks.
Attached Image
Still trying to get to meet myself...
  • #127,889
  • Sep 24, 2013 6:04am Sep 24, 2013 6:04am
Quoting Swede
Once a person proves to himself/herself that trading can and is a business that produces real wealth, there is not a lot of point hanging around a forum unless you are invited to moderate, or you have a strong desire to teach others. The latter can be very frustrating at times because so many traders will acknowledge a good method, play along for awhile, and then do it their own way in the end. Of course like was pointed out earlier, an A+ trade for one, may only be a C+ trade for another, or someone trading with 5000.00 will look at things quite...

I'm starting to completely agree about the point about forums. I'm finding they can cloud my judgement and mess with my trade ideas. Apart from this thread and the PF of course!

This will always be my home
Anything can happen.
  • #127,890
  • Sep 24, 2013 7:50am Sep 24, 2013 7:50am
Quoting jibson007
Hi every1. PLs mike, Ghous, Turnlip15, AL, what do you think abou this EURNZD trade which i am in presently. My tought process is explain on the chart below. you can also check on the daily to see what further made my story stronger. I was just wondering how long i can hold a trade like dis based on my 4H entry.thanks.{image}
Hey Jibson, its always advised that you look for BUOB's at extreme swing lows. So this one's near a swing low but not actually at it.

Attached Image (click to enlarge)
Click to Enlarge Name: chart 1.png Size: 25 KB


Also bear in mind that because BUOBs at swing lows are going to be counter trend for the most part, you've got to pay serious attention to the overall bigger picture. It helps to zoom out, or simply switch to a higher time frame so you can spot any patterns, wedges or long term PPZs that validate/invalidate a trade setup and also assist you in managing the trade.

Here, we have price breaking out of a major consolidation box and the BUOB marked a mere pull back to the consolidation box. Does that make a strong enough story to want to go long? Or were you just trading a "BUOB" and isolating it from the bigger picture altogether?

Attached Image (click to enlarge)
Click to Enlarge Name: chart 2.png Size: 40 KB


But that's all about why that wasn't an A+ trade. Now that you are in it you are not quite sure what to do with it. Well, you need to practice spotting your trouble areas and making sure you know the areas that price may find trouble at in advance. This leaves much of the guesswork out and the butterflies tied down. Once again, this isn't something totally hard to do. The 1.63 RN lining up with a former swing point on the very time frame that you took the trade on makes it an extremely obvious area to expect price to find trouble at. The point that I made above, that working out the story behind a trade can help you in managing the trade well, extracts its merits from right here. Now if you had spotted that major confluence trouble area you would have had a very good idea that price was likely going to react there. And because its such a major trouble area, logical decisions can then start to stem out from this piece of acquired knowledge. Such as taking full profit or reducing your risk on the trade significantly.

Attached Image (click to enlarge)
Click to Enlarge Name: chart 3.png Size: 24 KB


Hope this helps.

g.
I believe . . .
  • #127,891
  • Sep 24, 2013 7:54am Sep 24, 2013 7:54am
Attached Image (click to enlarge)
Click to Enlarge Name: usdcadweekly.png Size: 32 KB
  • #127,892
  • Sep 24, 2013 8:53am Sep 24, 2013 8:53am
. The 1.63 RN lining up with a former swing point on the very time frame that you took the trade on makes it an extremely obvious area to expect price to find trouble at. The point that I made above, that working out the story behind a trade can help you in managing the trade well, extracts its merits from right here. Now if you had spotted that major confluence trouble area you would have had a very good idea that price was likely going to react there. And because its such a major trouble area, logical decisions can then start to stem out from this piece of acquired knowledge. Such as taking full profit or reducing your risk on the trade significantly. {image} Hope this helps. g.[/quote]
Thanks Ghous if you noticed i took my entry at 1.6223 and i already scaled out 50% at 1.6300 RN. thanks for the insite, i just wanna see what this trade does alittle more moving my stop already and almost at BE at the moment. Thanx once more.


Jibson.
Still trying to get to meet myself...
  • #127,893
  • Sep 24, 2013 9:07am Sep 24, 2013 9:07am
Quoting jibson007
. The 1.63 RN lining up with a former swing point on the very time frame that you took the trade on makes it an extremely obvious area to expect price to find trouble at. The point that I made above, that working out the story behind a trade can help you in managing the trade well, extracts its merits from right here. Now if you had spotted that major confluence trouble area you would have had a very good idea that price was likely going to react there. And because its such a major trouble area, logical decisions can then start to stem out from...
Thanks Ghous if you noticed i took my entry at 1.6223 and i already scaled out 50% at 1.6300 RN. thanks for the insite, i just wanna see what this trade does alittle more moving my stop already and almost at BE at the moment. Thanx once more. Jibson.


Your trade management there is soo relieving! Well done!

g.
I believe . . .
  • #127,894
  • Sep 24, 2013 10:04am Sep 24, 2013 10:04am
Quoting makwana
{image}
Yes there are reasons to not to take.....
It would be better to take Pin from the bottom of the chart.

Attached Image (click to enlarge)
Click to Enlarge Name: USDCAD 2013_09_24.gif Size: 30 KB
  • #127,895
  • Sep 24, 2013 1:52pm Sep 24, 2013 1:52pm
Quoting makwana
{image}
Its not a good Pb to take. It has no confluence and also its very small. As it was already said this is even not a PB on my feed. I also dont see a box here as Rami points out.

Try not to zoom in so much. Looking at your chart this PB looks big, but its not realy is if you look at it with more bars on the chart.
If not up, then down, otherwise sideways :-)
  • #127,896
  • Sep 24, 2013 4:56pm Sep 24, 2013 4:56pm
Hi Mike, hi guys

would you take a long trade on this daily PB? I've a doubt since there's a weekly bearish PB.

Thanks a lot.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: gbpusdweekly.png Size: 49 KB
Click to Enlarge Name: gbpusddaily.png Size: 40 KB
  • #127,897
  • Sep 24, 2013 6:14pm Sep 24, 2013 6:14pm
Quoting aioico
Hi Mike, hi guys would you take a long trade on this daily PB? I've a doubt since there's a weekly bearish PB. Thanks a lot. {image} {image}
Hi aioico,

Fudd might give you a bit more detailed analysis but that is not a pin on your weekly chart. The open and close must be within the range of the previous bar. If you do buy off that daily pin, your first area of resistance (FTA)will be at 1.60645. One more detail, my chart does not show a pin bar on the daily because my Sunday bar and Monday bar are not combined like yours. This is not a high probability set up IMHO. I saw this and passed on it without much more thought.

K.I.S.S.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: aioico.jpg Size: 93 KB
Click to Enlarge Name: aioico2.jpg Size: 82 KB
  • #127,898
  • Sep 24, 2013 6:30pm Sep 24, 2013 6:30pm
Quoting makwana
{image}
Makwana-

This is my chart observation of the weekly USD/CAD. A break of the weekly pin should take price to 1.03687. The RR is skinny here so an entry on a lower timeframe upon retracement would be the way to trade this if the market allows.

K.I.S.S.
Attached Image (click to enlarge)
Click to Enlarge Name: makwana.jpg Size: 88 KB
  • #127,899
  • Sep 24, 2013 6:42pm Sep 24, 2013 6:42pm
Quoting Swede
Once a person proves to himself/herself that trading can and is a business that produces real wealth, there is not a lot of point hanging around a forum unless you are invited to moderate, or you have a strong desire to teach others. The latter can be very frustrating at times because so many traders will acknowledge a good method, play along for awhile, and then do it their own way in the end. Of course like was pointed out earlier, an A+ trade for one, may only be a C+ trade for another, or someone trading with 5000.00 will look at things quite...
  • #127,900
  • Sep 24, 2013 6:45pm Sep 24, 2013 6:45pm
Quoting jibson007
Hi every1. PLs mike, Ghous, Turnlip15, AL, what do you think abou this EURNZD trade which i am in presently. My tought process is explain on the chart below. you can also check on the daily to see what further made my story stronger. I was just wondering how long i can hold a trade like dis based on my 4H entry.thanks.{image}
great job again Jib, few great trades from you recently looks like you are making good progress with your trading

Notice the boxing effect can be used to manage your trade. At the time of posting I would even have moved my stop under that current bar low. you can look to the boxes for targets and trade mgmt

Great job jib!

Mike
Attached Image (click to enlarge)
Click to Enlarge Name: a2.gif Size: 27 KB
34 traders viewing now