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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

  • #133,881
  • Feb 24, 2015 6:06pm Feb 24, 2015 6:06pm
Quoting prasad99
{quote} Mike and James16 are the best resource you can find online. One way to get more winning trades is to diversify and trade stocks, futures and currencies and select only the best setups. Good luck with your trading.
Thx mate
  • #133,882
  • Feb 25, 2015 6:22am Feb 25, 2015 6:22am
Quoting mbqb11
{quote} now that price has CLOSED under the PPZ i'm in as a 2hr beob or 4hr beob(however you want to view it). Again you want these PPZs to your back because it's going to help cut those losses. We know the area that needs to hold and we just manage it accordingly now {image}
id like to post all winners but that's not realistic. I took a -1.3% loss on this. It's crucial to still cut your losses when the market doesnt react the way you expect it too

Onto the next one

Mike
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  • #133,883
  • Feb 25, 2015 8:01am Feb 25, 2015 8:01am
Quoting hazor
I'm new here.... i saw many pictures using SD zones with support and resistance... it's exactly what i'm looking for... from where i begin study??? any explanation? videos? PDFs? Kind Regards
Hi hazor

The first two hundred pages of this thread should give you an idea about the trading strategy here. I know it is a lot to read but it helps.
  • #133,884
  • Feb 25, 2015 8:59am Feb 25, 2015 8:59am
Quoting mbqb11
{quote} id like to post all winners but that's not realistic. I took a -1.3% loss on this. It's crucial to still cut your losses when the market doesnt react the way you expect it too Onto the next one Mike {image}
Thanks for honest example of trading thinking. Your posts real help all of us!
  • #133,885
  • Feb 25, 2015 11:35am Feb 25, 2015 11:35am
Quoting protuberanec
{quote} Thanks for honest example of trading thinking. Your posts real help all of us!
Hey P

Thanks for the nice comments. Yes I tell members every day. Anyone who acts like trading is some perfect thing is blowing smoke. I take losses all the time. My ability to be picky with my entries and MITIGATE my losses is what makes me profitable.

I think too many new traders chase the idea of perfection and it just makes them method hop too

Best
Mike
  • #133,886
  • Feb 25, 2015 11:46am Feb 25, 2015 11:46am
Quoting mbqb11
{quote} Hey P Thanks for the nice comments. Yes I tell members every day. Anyone who acts like trading is some perfect thing is blowing smoke. I take losses all the time. My ability to be picky with my entries and MITIGATE my losses is what makes me profitable. I think too many new traders chase the idea of perfection and it just makes them method hop too Best Mike

Mike

Here you mention an important thing with trading. No matter how good you are you still have 2 or 3 losing trades out of ten and that is just the nature of the business. And these losses will force some of us sometimes change the method itself and when we go to some other method our skill level will not increase with trading. At the end of the day trading is a skill that needs to be mastered with practice.

For new comers it helps to stick with PA and add the variations as confluences to the basic setup of PA with good story. I am not speaking for everybody but I am cautious and stay away if a method does not add or give an edge to what I am already doing.
  • #133,887
  • Feb 25, 2015 12:42pm Feb 25, 2015 12:42pm
[Quote = protuberanec; 8096139] {quote} Obrigado por exemplo honesto de pensar negociação. Seus posts reais ajudar a todos nós! [/ Quote]

Thanks a lot.... i will do that

Kind Regards
  • #133,888
  • Feb 25, 2015 7:46pm Feb 25, 2015 7:46pm
Quoting prasad99
{quote} Mike Here you mention an important thing with trading. No matter how good you are you still have 2 or 3 losing trades out of ten and that is just the nature of the business. And these losses will force some of us sometimes change the method itself and when we go to some other method our skill level will not increase with trading. At the end of the day trading is a skill that needs to be mastered with practice. For new comers it helps to stick with PA and add the variations as confluences to the basic setup of PA with good story. I am not...
it's very true P

For me the understanding of my ability to manage my losing trades has played as big of a role as anything over the years. My goal is not to avoid losses it's to avoid mis managing strong trades. I show my losses all the time because you can't learn from just winning trades. What I try to show is my CONSISTENCY from my winners to losers.

Here is my live trade video on this one
Inserted Video


Take care
Mike
  • #133,889
  • Feb 26, 2015 5:23am Feb 26, 2015 5:23am
EU 4hr, looks like it'll be a large beob, off of the box mid point and a trendline, but it's just running into trouble.

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  • #133,890
  • Feb 26, 2015 11:46pm Feb 26, 2015 11:46pm
hi all
my trade on this Pin bar

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  • #133,891
  • Feb 27, 2015 3:18am Feb 27, 2015 3:18am
Hi guys,

I have set my eyes on Gbpcad and what appears to be developing into a weekly pin bar if the price like this at the end of the day/week. I would like the look of the break of this pin, otherwise when it retraces to the left eye high of the left two candle patterns. Only thing is the stop would be huge (200 pips if the retracement occurs for an aggressive trading entry) i think which means would require a very small trade lot size whilst using Mike's dynamic stop/loss placement. What are your thoughts on this?


Fonz
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  • #133,892
  • Feb 27, 2015 7:35am Feb 27, 2015 7:35am
Hey guys,

Am watching the Hourly and 4-Hourly chart on EURCAD. Would love to see price break below 1.395 and shoot further down to the area at 1.386.

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As such, I placed a sell stop. I also noticed that there is a previous S/R box around the area (drawn on the 4-Hourly chart) and hopefully, it will serve as a double confirmation to my sentiment.

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Foto
  • #133,893
  • Feb 27, 2015 11:36am Feb 27, 2015 11:36am
Quoting Leo117
hi all my trade on this Pin bar {image}
The pin needs to be larger, especially the wick, and should close below those highs. Your pin actually closed above all the preceding closes.

Here's today's EurMxn4hr pin for comparison.

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  • #133,894
  • Feb 27, 2015 12:11pm Feb 27, 2015 12:11pm
thank you, alphac
  • #133,895
  • Edited 5:35pm Feb 28, 2015 7:59am | Edited 5:35pm
Quoting nasir.khan
{quote} Ohh yea he is. Here are the thread summaries thanks to Cyrus and i think this should be in post one. Summaries from seniors from page 3000-3500. James16, Mike and Raczekfx from page 1 to 2500. Summaries...
I m intensely going through the materials here and as there are many similarities with my trading approach its going smoothly...... but the above mentioned post from where some links were downloaded are not there anymore..... it says websites can't be found......plz help
  • #133,896
  • Mar 1, 2015 8:14am Mar 1, 2015 8:14am
I know its not A+ BEOB, but i see VRN 1.5500 +PPZ. we have FTA at 1.5350 area and i think price go to 1.5214 or even 1.5000 because we see downtrend on daily.
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  • #133,897
  • Mar 1, 2015 10:33am Mar 1, 2015 10:33am
Hi all,
GBPCAD W chart maybe interest for a short opportunity, resistance@1,9378
thanks for your comment
cheers
Xam
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  • #133,898
  • Mar 1, 2015 10:36am Mar 1, 2015 10:36am
Quoting Ashutosh717
{quote} I m intensely going through the materials here and as there are many similarities with my trading approach its going smoothly...... but the above mentioned post from where some links were downloaded are not there anymore..... it says websites can't be found......plz help
i will check if i have anything saved on my hard drive.
  • #133,899
  • Mar 1, 2015 9:03pm Mar 1, 2015 9:03pm
Quoting nasir.khan
{quote} i will check if i have anything saved on my hard drive.
Oh please....that will be helpful
  • #133,900
  • Mar 1, 2015 11:32pm Mar 1, 2015 11:32pm
Quoting Xamarass
Hi all, GBPCAD W chart maybe interest for a short opportunity, resistance@1,9378 thanks for your comment cheers Xam {image}
Hi Xam, I also take GBPCAD short. I think we have PPZ near 1.9300 (blue rectangle) also we have space and divergence. Pin is not big i think my tp is in FTA and it is conservativ.
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