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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

  • #133,701
  • Feb 2, 2015 2:59am Feb 2, 2015 2:59am
He're my chart of the day:

Watchlisted: (EUR/USD H1/H4)

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It's a sport, an artform and a science.
  • #133,702
  • Feb 2, 2015 10:53am Feb 2, 2015 10:53am
Hi Mike... really enjoy this thread... There is SO much value... May i ask, how was 2014 for you in terms of profit? would you mind sharing some numbers?
  • #133,703
  • Feb 2, 2015 12:41pm Feb 2, 2015 12:41pm
Quoting pwnstars
Hi Mike... really enjoy this thread... There is SO much value... May i ask, how was 2014 for you in terms of profit? would you mind sharing some numbers?
Hey Pwn

Thanks for the kind words! and welcome to the thread

I personally try to target as my "goal" of 20% for the year. Anything after that I consider to be fantastic. Now I do beat that but it's to always keep me in check what a number like that over time can do to ones wealth. I did much better in the mid double digits last year but I think it's important to always be focused on being smart too.

Again welcome to our "little" thread

Mike
  • #133,704
  • Feb 2, 2015 12:46pm Feb 2, 2015 12:46pm
Quoting leanne087
Hi Mike and everyone Is this something you would trade? My thoughts are... BRN, pinbar with long wick, and divergence (I think?). I was looking at the green line as an entry point and the pink line as FTA, and stop below the bar low. Do I have the FTA correct? but maybe it would be too close and too risky to trade? Thanks in advance. {image}
Hey Leanne

I'd be careful on this one just because the pinbar is in a lot of traffic. Price is essentially in a box with the pin being near that box(this happens when you don't have a pinbar at a nice swing low with space). Now with that said I think your trade idea makes sense. I would never want to buy a break of a bar like this because that's a major trouble area at the BRN of 1.6 which leaves you wanting to buy a retrace near the left eye(which is essentially just the open of this week). That gives you a tight stop and i'm glad to see you plan your trade in that manner.

I'd have ideally liked to see this pinbar sit down on the 1.5 BRN with our close just above that BRN. I like to trade near the tops/bottoms of boxes not so much near those middles. So this one sits a bit high for me

Best
Mike
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  • #133,705
  • Feb 2, 2015 12:52pm Feb 2, 2015 12:52pm
Quoting Xamarass
{quote} Hi Mike and all, is there a video or post where we can read more about how to draw the ppz (white box in your chart ) ? cheers
Hey X

Here is some more information on PPZs
http://www.forexfactory.com/showthre...16#post2252116

Best
Mike
  • #133,706
  • Feb 2, 2015 12:53pm Feb 2, 2015 12:53pm
Quoting Liquidity
{quote} Hey mate. On your charts, there is always a bid price (the price you can sell at) and an ask price (the price you can buy at). The price that is charted is the BID price. The ask price will always be slightly above the bid price. This slight gap between the two prices is the "spread". When you place a buy stop, like in your trade, you will be entered into the trade when the ask price (the price you can buy at) hits the buy stop. This is how you got entered even though the price that's charted (the bid price) never hit your buy stop. You...
Thanks L, just saw this question and Answer. Appreciate the help!

Mike
  • #133,707
  • Feb 2, 2015 1:21pm Feb 2, 2015 1:21pm
Quoting mbqb11
{quote} Hey Pwn Thanks for the kind words! and welcome to the thread I personally try to target as my "goal" of 20% for the year. Anything after that I consider to be fantastic. Now I do beat that but it's to always keep me in check what a number like that over time can do to ones wealth. I did much better in the mid double digits last year but I think it's important to always be focused on being smart too. Again welcome to our "little" thread Mike
So that works at just under 2% per month, which if you trade with 2% of your account as risk per trade, then getting that great return of 20% per year doesn't seem so unattainable! It's as you always say, slow and steady
We are what we repeatedly do. Excellence, then, is not an act, but a habit
  • #133,708
  • Feb 2, 2015 2:30pm Feb 2, 2015 2:30pm
Quoting Berserker
{quote} So that works at just under 2% per month, which if you trade with 2% of your account as risk per trade, then getting that great return of 20% per year doesn't seem so unattainable! It's as you always say, slow and steady
well that's the point of it for me. One good trade a month can be a game changer and is beating out 99% of what people are doing out there/saying they are doing. That's why I scream from the rooftop about stop over trading and learn to trade smart and be picky. You can build off that and have months way better. But the focus shouldn't be how many trades a month but how many quality trades you take. If it's one it's one, if its 20, it's 20. Of course people all have different risk tolerances and different goals as well as what they are willing to see the equity curve do. Over the years i've given up overall return for a smoother equity curve. It's well worth it to me from a psyche stand point.

January was just slightly under 2% for me but with just a few near missed entries could have been easy 10% month. The key was though controlling my risk as early on I was down nearly 2% but being smart, cutting losses, allows me to climb out just fine and hang in there for when the wins start coming. Sometimes they come in huge waves but the key is the down times and when things aren't as easy.

and of course this is just my opinion and how I do things, but that's all i got to share lol

Mike
  • #133,709
  • Feb 2, 2015 3:19pm Feb 2, 2015 3:19pm
Quoting mbqb11
{quote} Hey X Here is some more information on PPZs http://www.forexfactory.com/showthre...16#post2252116 Best Mike
Thanks Mike,
I will join the group as soon as possible (likely till year end)
.... in the meantime
cheers
xam
  • #133,710
  • Feb 2, 2015 4:22pm Feb 2, 2015 4:22pm
Hi,
is anybody here still trading Jarroo's method ?
It looks very interesting and I'm looking for people to exchange.

xpie
  • #133,711
  • Feb 2, 2015 5:35pm Feb 2, 2015 5:35pm
Quoting xpie
Hi, is anybody here still trading Jarroo's method ? It looks very interesting and I'm looking for people to exchange. xpie
I do sometimes, these trades are best when combined with PA.
Here's a trade in January based on his method. You can see great enter BUY, but i chickened out
to fast. Was a Friday and i decided to close ​
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  • #133,712
  • Feb 2, 2015 5:47pm Feb 2, 2015 5:47pm
Good Evening,

I've been reading through this thread for the last little while and decided to sign up for an account here on FF finally. Great work everyone I have gained a lot of knowledge! I am wondering though what has happened to James. Is he just at the PF? I was considering signing up for the website in near future.

Thanks,

ID
“Life breaks free. Life expands to new territories.
  • #133,713
  • Feb 2, 2015 5:52pm Feb 2, 2015 5:52pm
Quoting gasgas
{quote} I do sometimes, these trades are best when combined with PA. Here's a trade in January based on his method. You can see great enter BUY, but i chickened out to fast. Was a Friday and i decided to close ​ {image}
Nice Trade. The R/R can be really great on these trades. So you usually wait for good Price Action near the S/R, instead of entering spot on like described by Jarroo ?

xpie
  • #133,714
  • Feb 2, 2015 9:01pm Feb 2, 2015 9:01pm
Quoting Xamarass
{quote} Thanks Mike, I will join the group as soon as possible (likely till year end) .... in the meantime cheers xam
that's ok buddy hang here and learn tons of info here for free. We never want anyone to strap themselves to join. We aren't going anywhere

Best
Mike
  • #133,715
  • Feb 2, 2015 9:01pm Feb 2, 2015 9:01pm
Quoting Goldberg
Good Evening, I've been reading through this thread for the last little while and decided to sign up for an account here on FF finally. Great work everyone I have gained a lot of knowledge! I am wondering though what has happened to James. Is he just at the PF? I was considering signing up for the website in near future. Thanks, ID
Hey Goldberg

Welcome to the thread

Yes the PF is still around and kicking. James has been away for a few years but will be coming back shortly when we launch our new site

Again welcome to the thread drop a line any time

Mike
  • #133,716
  • Feb 2, 2015 11:13pm Feb 2, 2015 11:13pm
Quoting mbqb11
{quote} Hey Goldberg Welcome to the thread Yes the PF is still around and kicking. James has been away for a few years but will be coming back shortly when we launch our new site Again welcome to the thread drop a line any time Mike
Thanks Mike

When will the new site be launched? Will the old PF be taken down? What are you guys looking at for membership costs?

Is all the original information still on the pf? likes James trading methods?

What happened to James?

Is Fijitrader around?

Sorry for all the questions I'm just curious before I make a commitment.

Feel free to pm me

Thanks

ID
“Life breaks free. Life expands to new territories.
  • #133,717
  • Feb 3, 2015 2:38am Feb 3, 2015 2:38am
Quoting xpie
{quote} Nice Trade. The R/R can be really great on these trades. So you usually wait for good Price Action near the S/R, instead of entering spot on like described by Jarroo ? xpie
Hey

No, i dunt always wait for PB. But is nice to have it for more confidence in trade. I try combine both Jaroo method and what is Mike
and others teach in this thread.
See this one below. You have a nice outside bar with a nice space to move which is also PBT bar. Pulled back just perfectly for Jaroo way to enter Sell. The downside of this method is, price wont always come back to pick up your order so you many times watch good trade fly away without you on board lol. Yes RR can be real good on times so u have to let it run with a locking profits on the way.

Cheers
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  • #133,718
  • Feb 3, 2015 6:46am Feb 3, 2015 6:46am
Quoting gasgas
{quote} Hey No, i dunt always wait for PB. But is nice to have it for more confidence in trade. I try combine both Jaroo method and what is Mike and others teach in this thread. See this one below. You have a nice outside bar with a nice space to move which is also PBT bar. Pulled back just perfectly for Jaroo way to enter Sell. The downside of this method is, price wont always come back to pick up your order so you many times watch good trade fly away without you on board lol. Yes RR can be real good on times so u have to let it run with a locking...
Now I see what you mean, makes totally sense. Do you follow the rule to set the SL to the las ppz ? I think to really benefit from this method it is important to have a tight SL but sometimes you just dont find a good ppz nearby.
xpie
  • #133,719
  • Feb 3, 2015 8:22am Feb 3, 2015 8:22am
Quoting mbqb11
{quote} well that's the point of it for me. One good trade a month can be a game changer and is beating out 99% of what people are doing out there/saying they are doing. That's why I scream from the rooftop about stop over trading and learn to trade smart and be picky. You can build off that and have months way better. But the focus shouldn't be how many trades a month but how many quality trades you take. If it's one it's one, if its 20, it's 20. Of course people all have different risk tolerances and different goals as well as what they are willing...

Thanks Mike, really good to hear your take on this aspect of trading - The long game isn't discussed very often on forums!
We are what we repeatedly do. Excellence, then, is not an act, but a habit
  • #133,720
  • Feb 3, 2015 8:33am Feb 3, 2015 8:33am
Missed the trade by a few pips
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