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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

  • #130,721
  • Apr 27, 2014 1:21pm Apr 27, 2014 1:21pm
Quoting mbqb11
{quote} Hey LT people will always come and go, these are just forums and you know life changes Ghous is still around, pinbar i haven't seen in awhile but I think he still is learning out there(neither trade for a living so not sure what you meant there). Jarroo I have not heard from and am most worried about. He was having family stuff but it's very unlike him not to pop in and hope everything is ok with him. Best Mike
Yeah I am around,

Taking a little beak from FF to use that time to sort some other stuff around.

Can't really wander off too far away from my family at all.

g.
I believe . . .
  • #130,722
  • Edited 2:05pm Apr 27, 2014 1:36pm | Edited 2:05pm
Quoting ghous
{quote} Yeah I am around, Taking a little beak from FF to use that time to sort some other stuff around. Can't really wander off too far away from my family at all. g.
My angel, I missed u so much

N
  • #130,723
  • Apr 27, 2014 2:10pm Apr 27, 2014 2:10pm
Quoting ghous
{quote} Yeah I am around, Taking a little beak from FF to use that time to sort some other stuff around. Can't really wander off too far away from my family at all. g.
good to see you back my friend
Slow & steady
  • #130,724
  • Apr 27, 2014 2:17pm Apr 27, 2014 2:17pm
Quoting mbqb11
{quote} Hey LT people will always come and go, these are just forums and you know life changes Ghous is still around, pinbar i haven't seen in awhile but I think he still is learning out there(neither trade for a living so not sure what you meant there). Jarroo I have not heard from and am most worried about. He was having family stuff but it's very unlike him not to pop in and hope everything is ok with him. Best Mike
Hey Mike, Nice to see you and the gang still kicking here and helping folks as always.

Been lurking a bit and couldn't help but catch this post and your comment about Jarroo. I can sympathize as I too am dealing with family things for a while now. Should you see or hear from him please extend my prayers and best wishes his way.

Nice to see you too my brother Ghous.

Been a while for me and just popping in to extend a big to all of you and best wishes going forward. God Bless.
Ghost Rider - WWTBMD?
  • #130,725
  • Apr 27, 2014 2:52pm Apr 27, 2014 2:52pm
Quoting albchr
{quote} Hey Mike, Nice to see you and the gang still kicking here and helping folks as always. Been lurking a bit and couldn't help but catch this post and your comment about Jarroo. I can sympathize as I too am dealing with family things for a while now. Should you see or hear from him please extend my prayers and best wishes his way. Nice to see you too my brother Ghous. Been a while for me and just popping in to extend a big to all of you and best wishes going forward. God Bless.
always nice to see old faces pop in alb

I hope all works out for you and your family, thoughts with you all

Pop in more often

Mike
  • #130,726
  • Apr 27, 2014 3:09pm Apr 27, 2014 3:09pm
Quoting mbqb11
{quote} always nice to see old faces pop in alb I hope all works out for you and your family, thoughts with you all Pop in more often Mike
Thanks Mike and I'll do my best. This is where understanding really started for me so it always feels like coming home.

Chris
Ghost Rider - WWTBMD?
  • #130,727
  • Apr 28, 2014 11:05am Apr 28, 2014 11:05am
Quoting Berserker
{quote} Cheers Darek. Would you say the Jarroo method is complimentary, an 'add-on', to James16 price action? I guess what I'm asking is - I am still very new to James16 - identifying pinbars, confluence, BEOB, BUOB, etc etc. In your opinion would looking at and studying Jarroo's method be advisable?
Hey Bersie!

Dan made a VERY great point there.

I might add something to it:

READ a lot. Not only james16 stuff but other PA, Swing trading, breakout methods. You can even read completely other stuff like "market profiles", "auction market theory", "supply/demand balance at markets" etc.
(I read a LOT in the last 1 year.) All this reading will lead you to a point where you start seeing the bigger picture. - Every great (non scalper) - 1H 4H D timeframe methods are built on the same basic principles. One calls it "excess" - other calls it "pinbar" doesn't matter, because the idea ("the order flow" - or the "supply / demand") is the same behind them.

Look at this setup.
Attached Image


You see that 5 day consolidation and break. James would call it a BEOB. Jarroo would say - break through and close below. Some other would say, that the resting demand was eaten up by the selling power and price dropped like a stone. Doesn't matter. What matters is that jarroo would go short. James would go short on a pullback (just like i did). Tom Dante (the_wizzard) would go short too.

My point is to read a lot. And when you start seeing that they are all talking about the same thing, then you are there. Then you take the stuff, what is same in every price action / swing or whatever method - and you make your own rules around them.

I think though until you don't see these points you cant be a true trades, since you will follow other people's personal trading systems.

PS: Dont waste too much time on indicator systems. (Moving avarages, stohastics, MACDs, etc etc.) You will need better entries than, the indies provide.

Hope this helps,
Stephen
It's all psychology...
  • #130,728
  • Apr 28, 2014 11:10am Apr 28, 2014 11:10am
Quoting ghous
{quote} Yeah I am around, Taking a little beak from FF to use that time to sort some other stuff around. Can't really wander off too far away from my family at all. g.
Good to see ya g.
It's all psychology...
  • #130,729
  • Apr 28, 2014 2:38pm Apr 28, 2014 2:38pm
Quoting dan89
{quote} Hey Berserker Just thought I would give my opinion here and say that Jarroo's method is easier to learn and implement then J16 (in my case anyway) This is probably due to Jarroo's method being more technical and structured. e.g. find decent swing points hcr/lcs, wait for pbt and close above or below. take note of your exit points etc. I found j16 method to be a lot easier AFTER I first learned Jarroo's method (there is some overlap) But after a while you will soon realise that both are not really 'methods' they are just a box of concepts...
Thanks for the input Dan. I've been working with J16 method coming into my 6th month now, and I'm cautious of jumping in and out of different methods and styles I do like the look of the structured nature of Jarroo's method, and I think I will look for ways that it will compliment my 'style' ( or what there is of it, at this early stage! ), rather than make a complete shift.

Appreciate you taking the time to reply
Cheers
We are what we repeatedly do. Excellence, then, is not an act, but a habit
  • #130,730
  • Apr 28, 2014 2:53pm Apr 28, 2014 2:53pm
Quoting LamerTrader
{quote} Hey Bersie! Dan made a VERY great point there. I might add something to it: READ a lot. Not only james16 stuff but other PA, Swing trading, breakout methods. You can even read completely other stuff like "market profiles", "auction market theory", "supply/demand balance at markets" etc. (I read a LOT in the last 1 year.) All this reading will lead you to a point where you start seeing the bigger picture. - Every great (non scalper) - 1H 4H D timeframe methods are built on the same basic principles. One calls it "excess" - other calls it...
Thanks LamerTrader

You've explained what I think I was trying to say to Dan in my reply - I need to 'taste' the different methods and styles and see how they work together and compliment each other. I'm of the mind that this is what will give me true understanding in the long run.

I've been working with J16 for nearly 6 months now and I'm starting to get an understanding beyond the "See pinbar, buy" mentality. Concepts like space and boxes are beginning to make sense to me.

My exits have always been a problem, but I have been watching a lot of videos by Mike recently and they are helping. I think that Jarroo's method may shine a light there too.

I love reading, and I love reading about trading, so no problem there - just line it up Thanks for confirming that I am on the right lines - reading, experimenting, losing, reading some more, winning a bit, reading more, experimenting etc etc

Thanks for your great reply, really appreciated.

Steve
We are what we repeatedly do. Excellence, then, is not an act, but a habit
  • #130,731
  • Apr 28, 2014 7:02pm Apr 28, 2014 7:02pm
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  • #130,732
  • Apr 29, 2014 1:00am Apr 29, 2014 1:00am
Quoting Berserker
{quote} Thanks LamerTrader You've explained what I think I was trying to say to Dan in my reply - I need to 'taste' the different methods and styles and see how they work together and compliment each other. I'm of the mind that this is what will give me true understanding in the long run. I've been working with J16 for nearly 6 months now and I'm starting to get an understanding beyond the "See pinbar, buy" mentality. Concepts like space and boxes are beginning to make sense to me. My exits have always been a problem, but I have been watching...
Hi fellows,

Well, I agree, but...

there is one trap in reading, and I felt in. Reading is nothing compared to practicing. THe beauty of J16 basics is that it can be adapted to many different styles. Meaning it also can be used from scratch.
It took me a while to realize that. Then I decided to forward-test J16 most basics methods (PA setup at a PPZ / swing point with confluence), without adding any further refinements. Basically, market is endless, and I have the tendency to answer a question by another question (professional quirk: I come from basic research...)
So I had to set some boundaries up, and restrain myself from exploring too many methods.

Yet, I do not say I do not read anymore. I still do, quite a lot. But I keep the interesting ideas, concepts, for later. First let me prove to myself I can handle myself with the very core of James method, then I'll try and refine, if and when I will consider it's time.

Not saying reading is wrong - just pointing the fact that it may lead to overload someone (as myself...) with different details, while after all, watching your trade unfolding and your reaction to it, is an important step to trust yourself and gain confidence in your trading method and abilities.

Take care
Slow & steady
  • #130,733
  • Apr 29, 2014 1:49am Apr 29, 2014 1:49am
Quoting Neytiri
{image}
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  • #130,734
  • Apr 29, 2014 3:17am Apr 29, 2014 3:17am
Quoting patapouer
{quote} Hi fellows, Well, I agree, but... there is one trap in reading, and I felt in. Reading is nothing compared to practicing. THe beauty of J16 basics is that it can be adapted to many different styles. Meaning it also can be used from scratch. It took me a while to realize that. Then I decided to forward-test J16 most basics methods (PA setup at a PPZ / swing point with confluence), without adding any further refinements. Basically, market is endless, and I have the tendency to answer a question by another question (professional quirk: I...
Hey P, thanks for dropping by

I am beginning to identify areas of my trading that are weak - for example, exits are a real problem for me. I've left a lot of pips sitting on the table. I understand what you mean by taking in too much information - analysis paralysis we call it in web development - and I'm very careful NOT to do this. I am constantly demoing as I believe action and experience will always trump theory.

So through my demoing and study of J16 I have learnt that my exits need some work, for example. So I'll read a bit more, try to see other ways of looking at the problem instead of repeating the same mistakes over and over. I think this is pretty much what you are saying anyway - work with the core concepts then read more to finesse certain aspects of what I am doing.

Cheers!
We are what we repeatedly do. Excellence, then, is not an act, but a habit
  • #130,735
  • Edited 4:18am Apr 29, 2014 3:21am | Edited 4:18am
GBPNZD - Here's a trade I'm in at the moment. I saw it go to 107pips to the good this morning. I entered on the break of the BUOB marked by the arrow. I have moved my stop to BE and will only start locking in profit if we close above 1.976.

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Now, I guess a lot of people would have taken partial profits by now, and then others would still have a full position but with the stop a bit closer. Would anyone be playing like I am and waiting for a bullish close before locking in profit?

All comments much appreciated!
We are what we repeatedly do. Excellence, then, is not an act, but a habit
  • #130,736
  • Apr 29, 2014 3:52am Apr 29, 2014 3:52am
Quoting Berserker
GBPNZD - Here's a trade I'm in at the moment. I saw it go to 107pips to the good this morning. I entered on the break of the BEOB marked by the arrow. I have moved my stop to BE and will only start locking in profit if we close above 1.976. {image} Now, I guess a lot of people would have taken partial profits by now, and then others would still have a full position but with the stop a bit closer. Would anyone be playing like I am and waiting for a bullish close before locking in profit? All comments much appreciated!
Hey B, I think you meant BUOB instead of BEOB. Anyway good PPZ to take a BOUB from but you are trading into heavy traffic as well as a box . Now if I were in this trade I would not overstay my welcome. with full profit of the table at the 1.9700 RN. All the best. Al
  • #130,737
  • Apr 29, 2014 4:24am Apr 29, 2014 4:24am
Quoting albus999
{quote} Hey B, I think you meant BUOB instead of BEOB. Anyway good PPZ to take a BOUB from but you are trading into heavy traffic as well as a box . Now if I were in this trade I would not overstay my welcome. with full profit of the table at the 1.9700 RN. All the best. Al
(Thanks, corrected my post.)

Hadn't thought of it that way. My R:R is counting on it breaking into the box. Seems to be losing gas already though - I guess the market doesn't care about my R:R...

Cheers Albus.
We are what we repeatedly do. Excellence, then, is not an act, but a habit
  • #130,738
  • Apr 29, 2014 10:56am Apr 29, 2014 10:56am
Quoting Magestic
{quote} {quote} Not as big SL as it was, isnt it? 14.00 lots is demo of course, I dont publish positions from live, but the strategy is the same (3% of risk). I dont say it will end up a win, but this setups work more that 50% that for sure. If price comes back above the box again the setup is not valid anymore for me, and no need to wait till the entire bar SL. {image}
Closed at the lvl of a touch of the TL.
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If not up, then down, otherwise sideways :-)
  • #130,739
  • Apr 29, 2014 6:01pm Apr 29, 2014 6:01pm
Quoting Magestic
{quote} Closed at the lvl of a touch of the TL. {image}
beautiful Mag
  • #130,740
  • Apr 30, 2014 9:36am Apr 30, 2014 9:36am
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