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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

  • #127,941
  • Sep 27, 2013 10:57am Sep 27, 2013 10:57am
Quoting str8
Mike, I have a question about stock trading. How do you deal with gaps? Gaps are the reason I don't trade stocks because I don't know what my risk is. I also find it difficult to make price action analysis on daily charts especially because of gaps. In forex if I see a gap I'm thinking maybe it will act as support/resistance but in stocks there are many gaps and I don't think it's good to think a gap will be support/resistance like forex. Another question about stock trading is if technical analysis works as good as in forex (I have a feeling fundamental...
Hey Str8

An easy way to deal with most gappy equities is to simply trade off the weekly or monthly charts. I trade almost exclusively on weekly for equities. It smooths out the gaps on most securities completely.

As for news I personally don't pay attention to it in stocks or FX myself

Here is a current equity trade I am in.

My before chart sent to the group
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  • #127,942
  • Sep 27, 2013 11:23am Sep 27, 2013 11:23am
Quoting mbqb11
{quote} Hey Breeze FTA for what bar confirmation? Are you pointing a breakout of the multi bar high? If so then yes Best Mike
Thanks, Mike. Yes, that's what I am referring. My apology for not being able to express myself clearly.


Steven
  • #127,943
  • Sep 28, 2013 9:49am Sep 28, 2013 9:49am
what do you think about EUR/USD ?
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  • #127,944
  • Sep 28, 2013 3:20pm Sep 28, 2013 3:20pm
Hi all.

I'd like to share my recent experience in the private forum. Before joining the private forum I had read many investment books was able to understand all the topics usually treated here. But I was feeling I still needed some guidance, some howto instructions. I knew that all the simplistic strategies I had learnt reading books were wrong, mostly, because they all were the same, just if like tens of people wishing to make some money were writing the same book again and again. You find the different "trends", technicians, turtlicians, contrarians, value investors, and so on. But they mostly share the same simplistic ideas; normally untested.

I quickly get interested in the PF. I don't like spending money often. I prefer saving and going to a good restaurant instead of spending my money every day on bad meal. What I want to say is that I was pretty convinced that it was to be a good decision joining the PF.

I've been going through the different sections, which cover many areas of trading from an interesting point of view, and in a very straightforward manner, just like I like things to be, without unnecessary hay. Lots of webminars and open forums to solve doubts and share ideas.

So I will surely recommend (I've already done it) to anyone joining and trying the PF. One month, one quarter, whatever it's good for you. 125 dollars is a very good price for what you're going to find there.

In my opinion, I think I am going to get a lot of profit with what I've learnt. For that reason I am very happy and I think I am lucky for having found this forum and the oportunity to learn from experienced and sincere traders.

Again, my native language is not English.
  • #127,945
  • Sep 29, 2013 1:53am Sep 29, 2013 1:53am
Hi guys

Thanks for the input. Still learning a lot. Slowly making my way through the this tread. Had two profitable months and unfortunately in the red for this month. Still net positive but will prob be starting my three month cycle again on demo. All good though. As i keep trading i keep learning.

Thanks for all the great support and help. This is a great place to learn.

God Bless
Rudolfo
  • #127,946
  • Sep 29, 2013 4:52am Sep 29, 2013 4:52am
Quoting michosz
what do you think about EUR/USD ? {image}
I would wait for Sunday opening and then go for a shot trade
  • #127,947
  • Edited 6:52am Sep 29, 2013 6:39am | Edited 6:52am
Quoting michosz
what do you think about EUR/USD ? {image}
I think bulls and bears are fighting in the arena between 1.347 and 1.357. I don't really see important price action.

I would wait to see who win, for now bears are playing harder but the game is not finished yet.
  • #127,948
  • Sep 29, 2013 8:00am Sep 29, 2013 8:00am
Just a general question:

Why do most people use 5 EMA, 20 EMA and 200 EMA? The 5 EMA I am assuming is for the week. The 20 EMA which I am assuming is for the month, should it not be something like 22 (average number of days in a month 30 minus 8 days of Saturday and Sunday). The 200 EMA which I am assuming is for the year, should this not be something like 265 (52 weeks minus say the 2 weeks over Christmas/New Year multiply by 2 to give 100 days of Saturday and Sunday, taken away from 365 days). Or have I completely missed the bases of these EMAs? Also why is EMA more popular than the simple MA? Many thanks
  • #127,949
  • Sep 29, 2013 11:01am Sep 29, 2013 11:01am
Quoting scherzi
Hi all. I'd like to share my recent experience in the private forum. Before joining the private forum I had read many investment books was able to understand all the topics usually treated here. But I was feeling I still needed some guidance, some howto instructions. I knew that all the simplistic strategies I had learnt reading books were wrong, mostly, because they all were the same, just if like tens of people wishing to make some money were writing the same book again and again. You find the different "trends", technicians, turtlicians, contrarians,...
welcome Scherzi, we are glad to have you

Drop me a line there any time

Best
Mike
  • #127,950
  • Sep 29, 2013 11:27am Sep 29, 2013 11:27am
Quoting michosz
what do you think about EUR/USD ? {image}
Hey Mich

We are boxing up here around the BRN. We still have gaps open and my bias is still down into them. I'd watch for price to close those gaps so I would use the box low and BRN to watch for PA to continue downwards.

Best
Mike
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  • #127,951
  • Sep 29, 2013 11:29am Sep 29, 2013 11:29am
Quoting danjuma
Just a general question: Why do most people use 5 EMA, 20 EMA and 200 EMA? The 5 EMA I am assuming is for the week. The 20 EMA which I am assuming is for the month, should it not be something like 22 (average number of days in a month 30 minus 8 days of Saturday and Sunday). The 200 EMA which I am assuming is for the year, should this not be something like 265 (52 weeks minus say the 2 weeks over Christmas/New Year multiply by 2 to give 100 days of Saturday and Sunday, taken away from 365 days). Or have I completely missed the bases of these EMAs?...
Hey Dan


I don't use MAs myself but generally MAs are used by many here as dynamic support and resistance or another form of confluence(any tools from s/r to a MA is only as good as the situation that comes up). I don't think the actual number matters THAT much. For example many use 200 MA or the 50 etc so perhaps they hold a bit more weight. But I think the basis is having for many a longer term, medium term, short term. MAs are simply an average of price or agreement of price over a specific period.


I don't think if you took a profitable trader who uses the 100 MA and gave him/her a 75 or 125 MA it would change their profitability.

Hope that helps
Mike
  • #127,952
  • Sep 29, 2013 11:35am Sep 29, 2013 11:35am
Quoting mbqb11
{quote} Hey Dan I don't use MAs myself but generally MAs are used by many here as dynamic support and resistance or another form of confluence(any tools from s/r to a MA is only as good as the situation that comes up). I don't think the actual number matters THAT much. For example many use 200 MA or the 50 etc so perhaps they hold a bit more weight. But I think the basis is having for many a longer term, medium term, short term. MAs are simply an average of price or agreement of price over a specific period. I don't think if you took a profitable...
Many thanks!
  • #127,953
  • Sep 29, 2013 2:34pm Sep 29, 2013 2:34pm
Quoting mbqb11
{quote} welcome Scherzi, we are glad to have you Drop me a line there any time Best Mike
Hi Mike. I've watching and reading you at the PF. The info given by you was one of the main areas I needed more knowledge about. It was a relief for me having the possibility of learning more about it.


Quoting Kanzler
Welcome to the James16 chart thread - I suspect the biggest fraud to ever be perpetrated on the factory, yet still revered by many. Never any evidence of profitability, but a big expensive commercial forum to compensate for his "time". Gimme a break...best decision in moderator history was to move this to the commercial section.
Hi.

Before entering the PF I have been testing for a while PA. Both the patterns treated here in the public forum and the typical japanese candlestick patterns. Some of them match, yep. My vision of bar formation and patterns is a little more complex that the one explained in this forum, because I usually watch at multiple bar combinations to have a better idea of what's going around.


I have been trading PA two or three months now with positive results. The fact is that I've made profits without knowing how to properly manage a trade once it's open.


That's what I was looking for and what I've found together with other useful information for me.I think investing 100 bucks for all that information really it is worth it.

You see a mean meal (I like food) can cost 25-35€ anywhere you go, a cup in a club maybe 15, here the cinema costs 9€ one movie.

What you find in the PF is just a really interesting compound of knowledge in technical analysis and trading techniques. I was not looking for the holy grial, just some directions.

If it were me who has to teach that, I would have asked at least 400€ or 500€ per session per person.

If technical analyisis is ok, and I think it works, then the PF must be necessarily ok too. I've read a ton of books on trading and investing and as I say the PF was an additional step I think I had to take.
  • #127,954
  • Sep 30, 2013 12:20am Sep 30, 2013 12:20am
Hi I am new here, Can someone tell me What is PF? and also a question to MBQB11, If i join the Paid J16 site, Does it cover everything from this Forex Factory J16 forum? Because 6000 pages is too much to read. Thanks in advanced
  • #127,955
  • Sep 30, 2013 2:24am Sep 30, 2013 2:24am
Quoting Immvp
Hi I am new here, Can someone tell me What is PF? and also a question to MBQB11, If i join the Paid J16 site, Does it cover everything from this Forex Factory J16 forum? Because 6000 pages is too much to read. Thanks in advanced
Hi Immvp!

PF stands for Private Forum.
Private forum is a better version of this thread for those ones, who wish to get more concentrated material. There is no public noise on the PF, everything is "pre-packed", thus making learning much more efficient. Moreover hundreds of videos help you to understand what the guys are talking about, and the weekly webinars also help you to develop.
And yes, it does. IMO it covers even more.

Stephen
It's all psychology...
  • #127,956
  • Sep 30, 2013 3:46am Sep 30, 2013 3:46am
Good day all. Mike thanks for the last reply. Its nice i learnt something new from that reply. Here i come again with a couple of questions

1. Do you still move your take profit levels. I noticed you have a predetermined TP level for any particular trade b4 you take them, maybe at FTA or any other point beyond it. If yes, then what are some of those senero that can result into that.

2. When i view price on the D1 chart i notice how price moves in varied daily ranges. Is there any importance to considering average daily range for a particular pair. For example if a currency pair had made a major move during the Asian session beyond its average daily range then during London and New york its giving an entry in the same direction. Would an entry on this type of situation not be prone to huge retracement on the next trading day if it doesn't move much on the day of the trade?

3. Do you give more time preference to holding a long trade as opposed to a short trade since down trend are sharper and should take lesser time to reach a target compared to an up trend.

I think that's okay for now. Thanks every1 for all the help and support. It made a lot of difference.


Jibson
Still trying to get to meet myself...
  • #127,957
  • Sep 30, 2013 11:05am Sep 30, 2013 11:05am
Areas to watch on Silver h4
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Pip Project - Trading Channel
  • #127,958
  • Sep 30, 2013 12:48pm Sep 30, 2013 12:48pm
Quoting LamerTrader
{quote} Hi Immvp! PF stands for Private Forum. Private forum is a better version of this thread for those ones, who wish to get more concentrated material. There is no public noise on the PF, everything is "pre-packed", thus making learning much more efficient. Moreover hundreds of videos help you to understand what the guys are talking about, and the weekly webinars also help you to develop. And yes, it does. IMO it covers even more. Stephen
Thanks LT

Welcome IMMY!

Mike
  • #127,959
  • Sep 30, 2013 12:50pm Sep 30, 2013 12:50pm
Quoting jibson007
Good day all. Mike thanks for the last reply. Its nice i learnt something new from that reply. Here i come again with a couple of questions 1. Do you still move your take profit levels. I noticed you have a predetermined TP level for any particular trade b4 you take them, maybe at FTA or any other point beyond it. If yes, then what are some of those senero that can result into that. 2. When i view price on the D1 chart i notice how price moves in varied daily ranges. Is there any importance to considering average daily range for a particular pair....
Hey Jib

Glad it was of some help

Here are my responses to the above

1. Yes I do move my take profit levels. Generally I go in with the idea of where I would be ok with taking profit. Sometimes I move the take profit closer, or sometimes further away. As new information is printed this can change the story so I try to be flexible depending on the situation.

2. I am not overly concerned with ATR. I am more concerned with the movement of price within the areas I am watching. Now for say an intraday trade as it gets closer to the end of the main sessions this may cause me to take profit and/or tighten stops if I don't believe it's worth holding into a new session

3.Nope

Hope that helps
mike
  • #127,960
  • Sep 30, 2013 1:03pm Sep 30, 2013 1:03pm
Quoting saab
Areas to watch on Silver h4 {image}
looks good saab , price is really tightening up
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