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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

  • #134,301
  • Apr 13, 2015 5:37pm Apr 13, 2015 5:37pm
how come I don't have a little red diamond next to my name like mike? twees buddy
  • #134,302
  • Apr 13, 2015 5:53pm Apr 13, 2015 5:53pm
Quoting james16
how come I don't have a little red diamond next to my name like mike? twees buddy
  • #134,303
  • Apr 13, 2015 5:54pm Apr 13, 2015 5:54pm
Hi All

Total newbie here and here to learn as much as possible... Been lurking around here for a little and glad to be here. please be patient with me Big hello to James.

John.
  • #134,304
  • Apr 13, 2015 6:00pm Apr 13, 2015 6:00pm
Quoting james16
how come I don't have a little red diamond next to my name like mike? twees buddy
lol
  • #134,305
  • Apr 13, 2015 6:04pm Apr 13, 2015 6:04pm
Quoting deankenny21
Nice bearish engulfing on EURGBP daily, out of the small range, ready to continue the ride down. {image}
I've got in an order for this, but below the BRN at .72000 could get rejected. So keeping an eye on it.
  • #134,306
  • Edited 9:06pm Apr 13, 2015 6:13pm | Edited 9:06pm
GBP/AUD H4. Experimental trade for me. 2 bar high break out trading off 365 ema as a dynamic level and 1.9300 BRN, overall uptrend as further confluence. Lets see how she goes.

EDIT: Stopped out of this one as price went south. I was looking to buy on a swing high.

In short now, to capitalise on current momentum and BO of the 365 and 150 ema's on H1.

Attached Image (click to enlarge)
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'Fail to plan, plan to fail'
  • #134,307
  • Apr 13, 2015 7:53pm Apr 13, 2015 7:53pm
Quoting kevins
{quote} Thanks for the question rdv. Yes I will be using (& teaching the TOS platform). My CORE trades will be 90% non directional, theta positive type stuff, with the occasional mix of earnings plays and super small directional trades (10%). My focus is going to be on safety, simplicity, and consistent profitability geared to traders who can NOT watch the charts intra-day.
Sounds good Kevin. Will there be an ongoing trading platform fee (e.g. monthly) to use the TOS or any other trading platform to trade/learn with you or can we use free existing trading platforms like MT4?

Thanks, G
'Fail to plan, plan to fail'
  • #134,308
  • Apr 13, 2015 9:51pm Apr 13, 2015 9:51pm
NZD/USD H4. Stopped out. Don't trade short from a swing low.

Attached Image (click to enlarge)
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'Fail to plan, plan to fail'
  • #134,309
  • Apr 13, 2015 10:13pm Apr 13, 2015 10:13pm
Quoting Guitarbloke
{quote} Sounds good Kevin. Will there be an ongoing trading platform fee (e.g. monthly) to use the TOS or any other trading platform to trade/learn with you or can we use free existing trading platforms like MT4? Thanks, G
ZERO fee to use TOS papermoney, and it performs exactly like the live platform. I know a lot of traders who execute their live trades via IB and still use tos papermoney for quotes, and analytics.
  • #134,310
  • Apr 13, 2015 10:19pm Apr 13, 2015 10:19pm
It is delayed data though for the free paper money accounts. Will this cause any issues? I guess not if your only practising trades
  • #134,311
  • Apr 13, 2015 10:34pm Apr 13, 2015 10:34pm
I'm getting much calmer now in trading. When I just started I used to get flustered even if I lost a few pips or if the market didn't go in the direction I thought it would.
This is interesting, I hope to gain more confidence and experience so that one day too I'll have 42 or more straight wins.
I'm still making silly mistakes but they're getting less.

Current trade I'm i; NZD/CAD


Attached Image (click to enlarge)
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  • #134,312
  • Apr 13, 2015 10:46pm Apr 13, 2015 10:46pm
Quoting kevins
{quote} ZERO fee to use TOS papermoney, and it performs exactly like the live platform. I know a lot of traders who execute their live trades via IB and still use tos papermoney for quotes, and analytics.
Thanks Kev. I'm interested to be sure.

All the best with that trade Codekid. What is your TP target? G
'Fail to plan, plan to fail'
  • #134,313
  • Apr 13, 2015 11:11pm Apr 13, 2015 11:11pm
Quoting georgemoon
It is delayed data though for the free paper money accounts. Will this cause any issues? I guess not if your only practising trades
This will definitely not cause any issues when in the learning stages. Once a live account is funded, the papermoney quotes are eligible to be turned on into real-time quotes. This can be done with as little as $50 in an IRA. But yes you are correct, the delayed data versus real-time data is a non issue while learning and practicing.
  • #134,314
  • Apr 14, 2015 1:35am Apr 14, 2015 1:35am
Hello guys,

can someone pls post indicator which you use for auto-drawn BRN levels?

Much appreciate, thanks!
  • #134,315
  • Apr 14, 2015 2:26am Apr 14, 2015 2:26am
I use Grid_v3 sometimes, you can set the increments. however its bit annoying when drawing TL's and you select the grid lines by mistake.
  • #134,316
  • Apr 14, 2015 2:38am Apr 14, 2015 2:38am
Quoting kevins
{quote} This will definitely not cause any issues when in the learning stages. Once a live account is funded, the papermoney quotes are eligible to be turned on into real-time quotes. This can be done with as little as $50 in an IRA. But yes you are correct, the delayed data versus real-time data is a non issue while learning and practicing.
Hey Kevin,

Excuse my ignorance. Do you mean i can take a trade with as little as $50 and no more?

Thanks, G.
'Fail to plan, plan to fail'
  • #134,317
  • Apr 14, 2015 3:31am Apr 14, 2015 3:31am
Hey Jim,

Would really appreciate if you could give more pointers on how to day trade using daily charts. Preferably with some charts explaining the process.

My main problem has been identifying a setup and then waiting for a PA to confirm , but on many setups prices moves without giving me a PA and i feel bad about it.

Thanks again for all the help.
  • #134,318
  • Apr 14, 2015 7:06am Apr 14, 2015 7:06am
Quoting Guitarbloke
{quote} Thanks Kev. I'm interested to be sure. All the best with that trade Codekid. What is your TP target? G
Took some profit just below the .94000 mark then moved my stop to break even.
It wasn't a huge gain but at least I didn't lose money.

Attached Image (click to enlarge)
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  • #134,319
  • Apr 14, 2015 9:49am Apr 14, 2015 9:49am
Quoting Guitarbloke
{quote} Hey Kevin, Excuse my ignorance. Do you mean i can take a trade with as little as $50 and no more? Thanks, G.
Yep! or less.
  • #134,320
  • Apr 14, 2015 12:49pm Apr 14, 2015 12:49pm
Great to see you back Jim..Its been a while.
May be time to break out the original photo from your avatar again..
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