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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

  • #134,381
  • Apr 15, 2015 7:47am Apr 15, 2015 7:47am
Breakout of TL+pullback with pin which confirmed break of TL
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  • #134,382
  • Apr 15, 2015 7:59am Apr 15, 2015 7:59am
Quoting james16
yes the new site will be the most helpful forex, stock, options, futures website on the net for both being fed and being taught to fish for yourself. ten years of dreams and honest desires to help traders have gone in to it. our desire is to have the site make a profit but anyone considering joining should consider and remember that where else can you find a place that you can know the people teaching you can actually trade in a profitable fashion for themselves? the new site will be open to inspection by anyone so that you guys can know you are...

Through the years you and Mike have showed us that you can trade profitable constantly. I don't think that there is a sane person who would like to make an inspection of your site to try to find faulty information about your trading. Thats just some waste of time.
I'm in this since early 2005. For the past 10 years I have done nothing but trading. But I'm still a little bit better than break even. So I very welcome your new ideas. I KNOW how hard it is to master trading. Live calls will help me and others get their heads into trading knowledge better.
And one other IMPORTANT thing about it. I wanted to quit trading a few times, when I have been frustrated with my results, but you, Mike and Jarroo helped me through some hard times. If you do live calls people who follow you can see in LIVE terms that everything is possible. It will help them build their own confidence. This will change psycology of these traders. And beleive me they need it.
It took me a year to learn how to stop losing money constantly, but than it took me more than 9 years, 4 of which I have been a member of this family, to balance my thoughts and upgrade myself a bit higher than BE. Thanks Jim, Mike and Jarroo for that.
Just one suggestion. If you start this, don't stop. People like me need time to understand how it all works. Maybe another 10 years will be enough.
  • #134,383
  • Apr 15, 2015 8:00am Apr 15, 2015 8:00am
Quoting zamfir
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.
Hi,

I am also have same problem from starting... I hope will get the answer soon Zam..

Adhav
  • #134,384
  • Apr 15, 2015 8:25am Apr 15, 2015 8:25am
NZDCAD - BE for now.

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  • #134,385
  • Apr 15, 2015 8:37am Apr 15, 2015 8:37am
Quoting zamfir
NZDCAD - BE for now. {image}
Me too. Target 0.94900

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'Fail to plan, plan to fail'
  • #134,386
  • Apr 15, 2015 9:08am Apr 15, 2015 9:08am
Nice trade guitarbloke.

CADJPY - quick profit.

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  • #134,387
  • Apr 15, 2015 9:33am Apr 15, 2015 9:33am
EUR/USD H4. BEOVB. Back in this pair on a retrace after being stopped out at BE. Took a little profit earlier. Looking for more downside action.

EDIT: That was quick! 1st. target hit. 2nd target 1.0550


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'Fail to plan, plan to fail'
  • #134,388
  • Apr 15, 2015 9:34am Apr 15, 2015 9:34am
Quoting james16
an update to my j16 small account. what I mean by that is the trading done here has been done primarily with nothing other than what has been taught here since 2005. I know you probably think that you could never go 45 trades without a loss and im here to tell you that you would be terribly wrong. there is nothing difficult about anything I do in fact the reason what I do works so well is its simplicity. I am aware that the trading statement is reaching a level that might require further confirmation. I am going to ask fxcm to confirm somehow what...
Hey James, your run is very impressive. Just wondering if you could post a few charts to explain the trades. Thanks.
  • #134,389
  • Apr 15, 2015 9:44am Apr 15, 2015 9:44am
Gbp/usd h1.

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'Fail to plan, plan to fail'
  • #134,390
  • Apr 15, 2015 10:36am Apr 15, 2015 10:36am
Quoting zamfir
Nice trade guitarbloke. CADJPY - quick profit. {image}
Locked 70+ pips. Move coming to an end...

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  • #134,391
  • Apr 15, 2015 10:48am Apr 15, 2015 10:48am
Quoting protuberanec
Breakout of TL+pullback with pin which confirmed break of TL {image}
Watch the Support line at 7500....look for signs of a break below or will it bounce up to trendline....if in doubt stay out. Good luck
every Saint has a past. Every Sinner has a Future
  • #134,392
  • Apr 15, 2015 11:18am Apr 15, 2015 11:18am
Quoting turnip15
{quote} Watch the Support line at 7500....look for signs of a break below or will it bounce up to trendline....if in doubt stay out. Good luck
It already went up to the trendline.
  • #134,393
  • Apr 15, 2015 11:56am Apr 15, 2015 11:56am
It certainly did :-)
every Saint has a past. Every Sinner has a Future
  • #134,394
  • Apr 15, 2015 12:52pm Apr 15, 2015 12:52pm
Quoting Guitarbloke
{quote} Me too. Target 0.94900 {image}
Hi Bloke, could you please describe a little the thinking process that allowed you to enter right at the bottom of the range on this one? even better than Zamfir, the master?

anyway, i saw the pair made a sharp pullback so you probably exited at BE.

thanks and cheers.
Market can stay irrational longer than you can stay solvent.
  • #134,395
  • Apr 15, 2015 4:24pm Apr 15, 2015 4:24pm
Quoting james16
an update to my j16 small account. what I mean by that is the trading done here has been done primarily with nothing other than what has been taught here since 2005. I know you probably think that you could never go 45 trades without a loss and im here to tell you that you would be terribly wrong. there is nothing difficult about anything I do in fact the reason what I do works so well is its simplicity. I am aware that the trading statement is reaching a level that might require further confirmation. I am going to ask fxcm to confirm somehow what...
Hi Jim,

You and Mike have done a great job over the years and I don't want to see your reputations ruined by going about a trade service in the wrong way. Please consider how you do this very carefully.

I think there needs to be a reality check. If your goal is just to show that you can have 45 profitable trades in row then I take my hat off to you and say congratulations, well done and read no further.

However, if this trade statement is a reflection of how the trading service is going to be conducted then this is where the reality check needs to come in.
I've followed other traders before and have first hand experience of how followers get screwed.

Why? Because when you provide a trading service you needs to deliver it in a manner in which the followers have a real chance of replicating your results and thereby making a profit. If you are educating/explaining these live trade calls as well then how do you deliver the education part and the live trade call in a timely manner.
Do followers have to be glued to a chat room reading every line to find when changes to trade are made etc.

Looking at the equity curve your 45 trade winning streak shows very little increase in account balance so those wins probably comprise of break even trades and very small winners.

It's this type of trading that are the nightmare of followers. You get a break even trade but the follower gets a small loss. You get a small winner but the follower gets an even smaller winner, break even or worse a loss.

How will the trading service be delivered?
Even via a fast trade copier it's difficult for followers to get the small gains the main trader gets. If via email/sms or live trade room calls then the chances of success reduce by a much much great amount as the delay in response gets larger and larger.

If however, you are going for larger gains in the trade service and entries, stops, targets and exits can be notified well in advance then the follower's chances improve considerably.

I have followed traders before via email/sms/live rooms and also via trader copier service and the trade copier service is far superior but results still largely depend on the style of how the main trader trades. Scalping type traders are a nightmare for followers in my opinion.

I am more than happy to give you more information on my experiences so you can avoid some pitfalls and have the best chance for success.

Regards
outapips
If you act surprised, then you probably missed something
  • #134,396
  • Apr 15, 2015 4:59pm Apr 15, 2015 4:59pm
Quoting outapips
{quote} Hi Jim, You and Mike have done a great job over the years and I don't want to see your reputations ruined by going about a trade service in the wrong way. Please consider how you do this very carefully. I think there needs to be a reality check. If your goal is just to show that you can have 45 profitable trades in row then I take my hat off to you and say congratulations, well done and read no further. However, if this trade statement is a reflection of how the trading service is going to be conducted then this is where the reality check...
Hey OP

Thanks for dropping a line and the great ideas

That was one of the hang ups with ONE of the methods JIm intends to show

For example from my standpoint and email/text blast will give ample time. Of course if someone can't get to their computer or trade station in enough time that's on the not me.

Here for example is a trade I posted live today, plenty of time and I give my updates with plenty of time. I just intend to relegate that to the premium service in the future. But would only utilize trades where their was at least "some" time to get in and only entries that were sent when price is at or worse then my entry price to be fair too.

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That's why Jim was inquiring about PAMM and trade copiers because for these quick ones no one can do that via email/text. Another solution is a live trade room too. So it seems a perfect solution is not out there which is fine, that's life so we'll figure out something that works at least!

Thanks again we appreciate all these feedback since this is a new avenue for us

Mike
  • #134,397
  • Apr 15, 2015 5:03pm Apr 15, 2015 5:03pm
GBP/USD H1. Price smashed higher through resistance taking me out. I didn't trade this one very smartly. My stops were too wide and i payed the price. The important thing is that i learn something from this trade. That is to be selective and trade the plan.

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'Fail to plan, plan to fail'
  • #134,398
  • Apr 15, 2015 5:04pm Apr 15, 2015 5:04pm
Quoting cold chisel
{quote} Through the years you and Mike have showed us that you can trade profitable constantly. I don't think that there is a sane person who would like to make an inspection of your site to try to find faulty information about your trading. Thats just some waste of time. I'm in this since early 2005. For the past 10 years I have done nothing but trading. But I'm still a little bit better than break even. So I very welcome your new ideas. I KNOW how hard it is to master trading. Live calls will help me and others get their heads into trading knowledge...
Thank you CC, you guys all make up what really makes the group awesome
  • #134,399
  • Apr 15, 2015 5:23pm Apr 15, 2015 5:23pm
Quoting FXBat
{quote} Hi Bloke, could you please describe a little the thinking process that allowed you to enter right at the bottom of the range on this one? even better than Zamfir, the master? anyway, i saw the pair made a sharp pullback so you probably exited at BE. thanks and cheers.
Hey FXBat. My thinking was that H4 pin bar didn't look the strongest and price hadn't reached support at 0.9300 level, even though price had reacted and gone north from that PB level on 2 occassions before which along with a BUOVB was my reason for trading. So i waited to see if PA would fall further also enabling a tighter stop loss. I entered on the H1 chart AT 0.93700 when i felt price was going to turn around. Locked in a small profit of 30 pips and 20 pips before being stopped out.

PA is now at the 0.9300 level so i'm watching for price action to buy or sell. Daily BEOVB looks good but may not penetrate this level. i'll wait to see if price wants to go up or down. i.e. some confirmation.

Best wishes, G
'Fail to plan, plan to fail'
  • #134,400
  • Apr 15, 2015 5:29pm Apr 15, 2015 5:29pm
Hi Mike. Can't wait for the trade calls, can't wait to see how it plays out. I love your idea of the email/text blasts as part of the premium service. For those who trade mostly daily with a little 4hr thrown in there will be plenty of time to react - especially for those of us lucky enouugh to be in in your same time zone.

That said, what do you think of trading a potential retrace of the huge daily BEOB on GBPCAD. I love the location and momentum on this one and would love to see your thoughts.

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