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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

  • #135,581
  • Jul 1, 2015 1:44pm Jul 1, 2015 1:44pm
Quoting patapouer
{quote} My guess is Turnip was considering the bearish outside bar - I know I was
The OB did not break. Instead we got a IB and it broke upwards.
  • #135,582
  • Jul 1, 2015 3:31pm Jul 1, 2015 3:31pm
Quoting patapouer
{quote} My guess is Turnip was considering the bearish outside bar - I know I was
Correct - I saw the bearish outside bar -it did not break, so no short. I'm fine with that.
I saw the Inside bar but it didn't click that I could trade its break (I rarely consider Inside bars -no reason really). I did note a line of resistance above and maybe could have considered a break of that but such is not my cup of tea. Having said that, I think I will look closer at inside bars. Thanks chaps for your comments.
every Saint has a past. Every Sinner has a Future
  • #135,583
  • Jul 1, 2015 3:35pm Jul 1, 2015 3:35pm
Quoting oxygn
Pinbar at 50% fib and support area. Will see what price does at potential trouble area. Hopefully it busts through to the top of the range. Appreciate any inputs. THank you. {image}
Oxy -being picky I would say your Pinbar is rather small and too far up the left hand bar, Plus you're close to overhead trouble. Keep the questions coming though.
every Saint has a past. Every Sinner has a Future
  • #135,584
  • Jul 1, 2015 4:00pm Jul 1, 2015 4:00pm
TP at 1:1 around daily high.
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  • #135,585
  • Jul 1, 2015 11:58pm Jul 1, 2015 11:58pm
Quoting Guitarbloke
{quote} It means I'm special.
Yeah right! If that was true, I would be the darkest shade of red 'cause I'm the epitome of awesome.

By the way, I've been really busy this week and didn't get much of a chance to discuss trades. I did get a winner on the Yen yesterday though that was my only trade this week.


These are my trades for today:
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  • #135,586
  • Jul 2, 2015 3:53am Jul 2, 2015 3:53am
USD/CAD H4 IB Break out Inco style. Break above BRN and mother bar.

Best wishes GB.

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'Fail to plan, plan to fail'
  • #135,587
  • Jul 2, 2015 5:08am Jul 2, 2015 5:08am
Update to the trades I shared earlier:

Trades are still good to keep but I'm taking my profits off the table now cause I need to replenish my account after last week's withdrawal. They're still good though for those in them. Good luck with that.

By the way, people here seem really grumpy today oh well, must be one of those days.
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  • #135,588
  • Jul 2, 2015 5:32am Jul 2, 2015 5:32am
Quoting incognito517
Update to the trades I shared earlier: Trades are still good to keep but I'm taking my profits off the table now cause I need to replenish my account after last week's withdrawal. They're still good though for those in them. Good luck with that. By the way, people here seem really grumpy today oh well, must be one of those days. {image}
Good trading Inco. No grumpiness here. Thanks for sharing your charts. Take care GB.
'Fail to plan, plan to fail'
  • #135,589
  • Jul 2, 2015 6:33am Jul 2, 2015 6:33am
Quoting Guitarbloke
{quote} Good trading Inco. No grumpiness here. Thanks for sharing your charts. Take care GB.
Thanks GB and you're welcome. Good, cause I don't like sour grumpies. Ironically I'm eating sour gums. Here's a virtual gum for you:
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About your USDCAD trade, I'm not so sure how the IB breakout strategy works on the 4 hour TF. Like I said before I'm quite new to trading outside the daily TF. On the daily TF it has about a 70% expectancy of coming off provided there's clear momentum in the direction of the breakout.
  • #135,590
  • Jul 2, 2015 7:32am Jul 2, 2015 7:32am
Quoting incognito517
{quote} Thanks GB and you're welcome. Good, cause I don't like sour grumpies. Ironically I'm eating sour gums. Here's a virtual gum for you:{image}{image} About your USDCAD trade, I'm not so sure how the IB breakout strategy works on the 4 hour TF. Like I said before I'm quite new to trading outside the daily TF. On the daily TF it has about a 70% expectancy of coming off provided there's clear momentum in the direction of the breakout.
Thanks for the gum my friend. I'll just add an extra kilometre or 2 to my run tomorrow. Well, I closed the USD/CAD H4 trade at BE as it was flapping around a bit. Understandable given I was trading into some resistance.
'Fail to plan, plan to fail'
  • #135,591
  • Jul 2, 2015 9:56am Jul 2, 2015 9:56am
Quoting zamfir
{quote} Yes GB, that is correct. R/R = size of the PA bar. you can do the same on daily also. I trade the daily's and i m up 100+ pips this week. From my research , i see that on 4h you get about 5-6 setups and on average the strategy makes 150 pips. Now you make the same amount of pips trading just 2 setups on daily. Most people never asked why the R/R is the size of the PA bar. The reasoning is that the R/R depends on the strength of the PA bar , so if you have a small PA bar , this likely indicates weak PA .Hence the R/R will be small so you...

Sounds good so far, Zamfir

Silver is a bit messy: first trade was a loss (SL too tight...), re-entered at the same price when I saw price reacting so quickly.

I had a few "touch trades" that were stupid - I am now slowly recovering...

Take care
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Slow & steady
  • #135,592
  • Jul 2, 2015 12:27pm Jul 2, 2015 12:27pm
I have a question for James (Jim) / Mike. Or whoever is in charge of recruiting members to the J16 group.

Why is membership so expensive? 130 bucks a month for a year before I’m granted lifetime membership? That’s a total of $1,560 (approximately 19,500ZAR).
I’m a student and an intern that earns peanuts and my trading accounts are really small. I can’t afford that. Can’t I get a student discount?

Also, I’m going to be in the US from 21 August to 7 September. Will it be possible to meet at your office or wherever you conduct your business from? Please don’t take this personally but this is a sick world we’re living in and anything is possible. I don’t want you pulling a Jacko on me. (Example: I pay for membership and then the site shuts down after 2 months). I believe you’re sincere and trustworthy people but I’d just like to know who you are. Again, please don't read this the wrong way.

And let me know if I can get some kind of student discount. Because it’s way too expensive for me.
Thanks.
  • #135,593
  • Jul 2, 2015 12:40pm Jul 2, 2015 12:40pm
Quoting Guitarbloke
{quote} I'll just add an extra kilometre or 2 to my run tomorrow.
  • #135,594
  • Jul 2, 2015 1:40pm Jul 2, 2015 1:40pm
Quoting incognito517
I have a question for James (Jim) / Mike. Or whoever is in charge of recruiting members to the J16 group. Why is membership so expensive? 130 bucks a month for a year before Im granted lifetime membership? Thats a total of $1,560 (approximately 19,500ZAR). Im a student and an intern that earns peanuts and my trading accounts are really small. I cant afford that. Cant I get a student discount? Also, Im going to be in the US from 21 August to 7 September. Will it be possible to meet at your office or wherever you conduct your business from? Please...
Hey Incognito

Firstly we NEVER want anyone to join us if it will strap them. We offer more free information then anywhere else i've seen on the internet. And not just "teaser" information I have over 11 thousand posts and free videos that I believe are worth more then what most people charge out there for their information. So PLEASE don't strap yourself. Study this thread, our free videos on youtube as well as our new site will have an updated free guest section. Save your money for building your account.

In terms of the cost I think what we offer is again peanuts for the value. We could charge way more and will be upping the monthly fee when we launch our new site? It's value and we both want to get paid for the service we provide. We DO understand this will alienate some people but that's something we try to more than make up for for over a decade of FREE Information. I never turn anyone asking a question away on this thread. I think i've proven that over the years so please feel free to hang out here and ask for help i'd be more than glad to jump in.

As for running away with someones money or shutting down. What we do is nothing like jacko who asked people to wire him tens of thousands /hundreds of thousands of dollars. We give education and people can join with a month to month commitment. Worst case you join and leave because you don't like what we do. I get that can't please everyone. But we've been running since around 2006, that's a decade of helping traders and satisfied traders since we have sustained on our word of mouth alone. I'm quite proud of that. Sure eventually we will close the doors but james and I are about to take things to the next level so we don't expect that any time soon.

As for visiting our office we have no such office. I'm in new york, james is in texas. I've met members from the forum before out for a drink so if i'm around and able to fit it in i would be more than happy to but not for an interview lol. I do that because I enjoy the connections i've made and the friends over the years.

Again please don't strap yourself go through this thread it is loaded with TONS of information more than enough to be profitable off without having to join us. How many people say that? And be sure to check out our youtube channel too
https://www.youtube.com/channel/UCnJ...16XmGH1GsQbgIA

Hope this helps and have a great weekend
Mike
  • #135,595
  • Jul 2, 2015 2:48pm Jul 2, 2015 2:48pm
Short post NFP in USD/MXN after the first pin.
Want to avoid to be kicked out at the gap and
TP near RR 1:1 already.
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  • #135,596
  • Jul 2, 2015 3:11pm Jul 2, 2015 3:11pm
Quoting incognito517
Update to the trades I shared earlier: Trades are still good to keep but I'm taking my profits off the table now cause I need to replenish my account after last week's withdrawal. They're still good though for those in them. Good luck with that. By the way, people here seem really grumpy today oh well, must be one of those days. {image}

Hello incognito,

you might know this, but you are long in two and a half very similar trades.
AUD, NZD and CAD are all commodity currencies and can move very similar,
especially AUD and NZD. So when you are long GBP-AUD and GBP-NZD
this can be a very similar position and consequently your risk exposure is higher.

K
  • #135,597
  • Jul 2, 2015 5:48pm Jul 2, 2015 5:48pm
Quoting mbqb11
{quote} Hey Incognito Firstly we NEVER want anyone to join us if it will strap them. We offer more free information then anywhere else i've seen on the internet. And not just "teaser" information I have over 11 thousand posts and free videos that I believe are worth more then what most people charge out there for their information. So PLEASE don't strap yourself. Study this thread, our free videos on youtube as well as our new site will have an updated free guest section. Save your money for building your account. In terms of the cost I think what...
Mike, thanks for the reply.

This thread is equivalent to the reading material of a 4 year LLB degree. Besides that you’d have to filter through a ton of rubbish from random posters such as myself, to get to the good stuff. It’s a daunting task. I’ve seen some of your videos though and I found them to be very helpful and informative. Also, you seem to be a kind person that actually cares about the trader and not just his/her money. Judging from your posts I can tell you’re a nice person. (I can also tell when a person is a proud and arrogant prick – won’t mention any names).

Basically, I’m not a complete orphan trader. I do have a mentor who’s been really good and whom I love to bits. Everything I know I’ve learnt from him. But I’m looking to add a few more weapons to my trading arsenal. And I think that this would be a good place to get that. I’ll go through the free stuff for now like you suggested but I do want to become a member.

By the way, I don’t want to meet you to interrogate you as in an interview setup, don’t be absurd. I just want to know that you’re.... Actually I don’t really know why. I just don’t trust people easily, I guess. I just like to know that you’re an actual person that I’ve met.

I’m going to be in Manhattan so IF you’re available... I’m always up for a drink. HAHA.
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Cheers!
  • #135,598
  • Jul 2, 2015 6:01pm Jul 2, 2015 6:01pm
Quoting Kershey
{quote} Hello incognito, you might know this, but you are long in two and a half very similar trades. AUD, NZD and CAD are all commodity currencies and can move very similar, especially AUD and NZD. So when you are long GBP-AUD and GBP-NZD this can be a very similar position and consequently your risk exposure is higher. K
Hi Kershey, thanks for your post. Yes, you’re right. I have a slightly different way of doing this though. I have a fixed amount that I'm willing to lose on any given day, and I split that risk amount between the maximum number of trades that I will be trading for that particular day. I can do this because I know exactly what trades I will be taking the moment Wellington kicks off the new day. Since I trade the daily time frame. I'm not guaranteed that every trade will be executed but I do have a maximum number of trades for the day. So let's assume I'm prepared to risk $100 (5% of my account) per daily session and I have two trades for that day, I'd put $50 on each. If I had just one trade, I'd put the entire $100 on it. So, in today's scenario if I played the GBPAUD ONLY, I would have put all $100 on it. If GBPAUD, GBPNZD and GBPCAD I would put $33 on each. So my risk is the same regardless.
  • #135,599
  • Edited Jul 3, 2015 12:22am Jul 2, 2015 7:12pm | Edited Jul 3, 2015 12:22am
GBP/USD D1 PB off support.

Hey Inco. There is a thread 'summary' of some core posts you might find interesting. It is on page 1 post 1 about a third of the way down the page. Click on the link directly below the following words on page 1....... 'below are some posts that i feel should not get lost in this very large thread. if you know of one not listed here please let me know.' and it'll take you to a bit of a summary circa a few years ago, but still relevant today. Rawk on. GB

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AUD/JPY H4. BEOVB. Took 1OO pips before market just took out my manually trailed stop. Price hitting some traffic/support. Good enough for me. Zamfir, this is a trade I took a few days ago with your 1:1 RR length of bar method. Worked out, and I let it run a little. P.S. NFP report Friday 3rd july. Watch out for possible price spikes.

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'Fail to plan, plan to fail'
  • #135,600
  • Jul 3, 2015 1:07am Jul 3, 2015 1:07am
Hi, guys!
It's my first post here! I'm happy to find this thread and get a lot of new useful info! Thanks a lot everybody! Now I'm in process of reading from the beginning.
Incognito, maybe this post will help : http://www.forexfactory.com/showthre...99#post2585699. Besides membership in j16group can be a good motivation for your trading
Also I'd like to remind of a referendum in Greece this Sunday, so take care about your EUR positions, if you have them.

Besides, can you give me some advise about pinbar on daily USDJPY? On the one hand it has all necessary conditions (long nose, close below open, small body, fib level), on the other hand there is a round number of 123.00 below. Is this pinbar worth trading?
P.S. sorry if my english is not good sometimes)
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