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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

  • #135,861
  • Edited Jul 13, 2015 1:55am Jul 12, 2015 8:49pm | Edited Jul 13, 2015 1:55am
Worth watching Blade.

EUR/AUD H4 PB rejecting BRN 1.50000. 2 orders set. 1st target 1st TA just above 23 fib. All I can do is trade the probabilities to the first logical TA. Kicking off nicely so far.

Update: Given this is a counter trend trade, I've reviewed/managed my trade and decided to take some profit off the table, and moved s/l to BE. If trade was with trend, I would consider leaving s/l in original spot above PB. Free trade from here.

Update #2. stopped out at BE. Profit 35 pips.

Thanks Blade.

Attached Image (click to enlarge)
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'Fail to plan, plan to fail'
  • #135,862
  • Jul 13, 2015 12:57am Jul 13, 2015 12:57am
Quoting Guitarbloke
Worth watching Blade. EUR/AUD H4 PB rejecting BRN 1.50000. 2 orders set. 1st target 1st TA just above 23 fib. All I can do is trade the probabilities to the first logical TA. Kicking off nicely so far. {image}
Good luck GB, hopefully the London open will push it down if its not already at your TP.

Fingers crossed for you.
  • #135,863
  • Jul 13, 2015 2:12am Jul 13, 2015 2:12am
Quoting Bladerunn3r
{quote} Good luck GB, hopefully the London open will push it down if its not already at your TP. Fingers crossed for you.
Oh no no no! I'm long on EURAUD pretty close to getting stopped out too.
  • #135,864
  • Jul 13, 2015 3:03am Jul 13, 2015 3:03am
Quoting incognito517
{quote} Oh no no no! I'm long on EURAUD pretty close to getting stopped out too.
Where is your stop?
  • #135,865
  • Jul 13, 2015 3:38am Jul 13, 2015 3:38am
Quoting Bladerunn3r
{quote} Where is your stop?
S/L hit! Can't say I'm surprised hey. Don't know why I still bother with 4 hour charts really. Although I was trading right into the 1.50 BRN so it's my fault I guess. Absolutely gutted though. I'm not trading for the rest of the day. I closed my GBPNZD daily trade that was 111 pips in profit just to cover my stupid 4 hour losses. I got to spend the rest of this day determining never to trade lower TFs again. Just doesn't work for me like it does for the rest of you. Have a nice day you guys and all the best with your trades.
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  • #135,866
  • Jul 13, 2015 3:39am Jul 13, 2015 3:39am
Quoting Guitarbloke
Worth watching Blade. EUR/AUD H4 PB rejecting BRN 1.50000. 2 orders set. 1st target 1st TA just above 23 fib. All I can do is trade the probabilities to the first logical TA. Kicking off nicely so far. Update: Given this is a counter trend trade, I've reviewed/managed my trade and decided to take some profit off the table, and moved s/l to BE. If trade was with trend, I would consider leaving s/l in original spot above PB. Free trade from here. Update #2. stopped out at BE. Profit 35 pips. Thanks Blade. {image}
Good idea to take some profits, nice little start to the week for you and hopefully just the beginning.

I got a good start myself, took 150 or so trading the Sunday open. Its not a J16 technique but its a nice way with small risk (and some big spreads for sure) to make some pips.

Watching the GBP/JPY still, its looking like breaking the pin high of last week.
  • #135,867
  • Jul 13, 2015 3:54am Jul 13, 2015 3:54am
Quoting Guitarbloke
Worth watching Blade. EUR/AUD H4 PB rejecting BRN 1.50000. 2 orders set. 1st target 1st TA just above 23 fib. All I can do is trade the probabilities to the first logical TA. Kicking off nicely so far. Update: Given this is a counter trend trade, I've reviewed/managed my trade and decided to take some profit off the table, and moved s/l to BE. If trade was with trend, I would consider leaving s/l in original spot above PB. Free trade from here. Update #2. stopped out at BE. Profit 35 pips. Thanks Blade. {image}
Will keep an eye on this move down to the 61 fib, could be a good way to jump back into the trend with decent PA.
  • #135,868
  • Jul 13, 2015 4:00am Jul 13, 2015 4:00am
Quoting incognito517
I got to spend the rest of this day determining never to trade lower TFs again. Just doesn't work for me like it does for the rest of you.
Well, sometimes it works, sometimes it doesn't...
I would say it's pretty difficult to generalize one successful post to all the posters / readers here... you know what they say, the 95% etc... this rule is also supposed to be true here as well.

I don't post much setups. I have had a few nice winners in a row. Just to cover the next losers - keeping a few extra pips to stay slightly in the green

From my personal experience, when I started thinking "oh, why am I on the loser side while they are all posting winning trades", it was a good time to get off the thread. And the trading screen, as far as I am concerned. To clear a bit my head, before coming back slowly.

I've been discussing this with some posters here via PM. Well, their message is "stick to it". "Identify your optimal trading window, focus on the trade - not on the outcome".

good luck
Slow & steady
  • #135,869
  • Edited 7:18am Jul 13, 2015 4:18am | Edited 7:18am
GBP/JPY D1 breakout. BO and entry on H1 and close above 191.000 level. 1st target hit. Now at BE. Will look to lock in some profit very soon.

Update: closed trade at 192.050 for 100 pips plus 40 pips on 1st order. Price possibly retracing for a bit. Good enough for me for now. Can always get in again later.

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CHF/JPY H4 PB off resistance.

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EUR/USD H4 BEOVB Closed below S/r level. 1st target hit at first TA. profit banked. BE. A bit of traffic ahead which makes no difference to me now. Free trade. Next target 1.07000 area.

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'Fail to plan, plan to fail'
  • #135,870
  • Jul 13, 2015 5:07am Jul 13, 2015 5:07am
Quoting Bladerunn3r
{quote} Will keep an eye on this move down to the 61 fib, could be a good way to jump back into the trend with decent PA.
Hi there,
why not considering shorting into pullback to 1,4945-55 area instead of waiting for her to get to 61Fib? Daily trend's up, But with 4H BEOB it seems ok for intraday short (if the price will get there).
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  • #135,871
  • Jul 13, 2015 5:20am Jul 13, 2015 5:20am
Haven't posted in a while,because i m waiting...

I see lots of people struggling.Hope i can help. Few general observations and thoughts.

1. if you have not decided on what TF you want to trade and stick to it, you are in trouble.
2. if you have not decided on strategy and don't have a trade plan. you are in trouble.
3. if you are desperately looking to trade everyday, you are in trouble.
4. Most many not agree with this one, but thats ok. if you are trading on demo, you WILL be in trouble when you trade on a real a/c. only way to get around this is to trade on a small a/c rather than demo a/c. Demo a/c should be used only for testing new strategies and by complete newbies. but many here are not newbies.

I see that most people are just stuck in an endless cycle considering above points. I hope you will come out of it.
  • #135,872
  • Jul 13, 2015 5:25am Jul 13, 2015 5:25am
E/U looks even better for short @ 1,111 area
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  • #135,873
  • Jul 13, 2015 7:29am Jul 13, 2015 7:29am
Quoting patapouer
{quote} Well, sometimes it works, sometimes it doesn't... I would say it's pretty difficult to generalize one successful post to all the posters / readers here... you know what they say, the 95% etc... this rule is also supposed to be true here as well. I don't post much setups. I have had a few nice winners in a row. Just to cover the next losers - keeping a few extra pips to stay slightly in the green From my personal experience, when I started thinking "oh, why am I on the loser side while they are all posting winning trades", it was a good...
Hey P, thanks for your post and congrats on your winning streak (no don't give it back ). What has been working for me for the past year is trading the daily TF exclusively. I just find it a lot easier to do, so I'm just going to stick to that.
_______________________________________________________________________

@Zamfir: points 1 and 3 is undoubtedly where my downfall lies. Thanks for your guidance.
_______________________________________________________________________

@GB: Good job on the GBPJPY my friend.
  • #135,874
  • Jul 13, 2015 8:13am Jul 13, 2015 8:13am
Quoting incognito517
{quote} Hey P, thanks for your post and congrats on your winning streak (no don't give it back ). What has been working for me for the past year is trading the daily TF exclusively. I just find it a lot easier to do, so I'm just going to stick to that. _______________________________________________________________________ @Zamfir: points 1 and 3 is undoubtedly where my downfall lies. Thanks for your guidance. _______________________________________________________________________ @GB: Good job on the GBPJPY my friend.
Thanks Inco. Hey, I think it was friend Patapouer who mentioned in an earlier post something that he heard...

'celebrate the winners and the losers'. Sounds bizarre at first, but makes a lot of sense to me. As long as we learn from the losers, we are moving forward I reckon. You know how to trade profitably from what I see. Take care. Hello Ziven! Regard's to all. GB.
'Fail to plan, plan to fail'
  • #135,875
  • Jul 13, 2015 8:22am Jul 13, 2015 8:22am
Quoting Guitarbloke
{quote} Thanks Inco. Hey, I think it was friend Patapouer who mentioned in an earlier post something that he heard... 'celebrate the winners and the losers'. Sounds bizarre at first, but makes a lot of sense to me. As long as we learn from the losers, we are moving forward I reckon. You know how to trade profitably from what I see. Take care. Hello Ziven! Regard's to all. GB.
What? said what??

I just remember Ghous stating that what the losers will teach us, the winners won't.

Then I guess there is a balance to find between learning and winning
Slow & steady
  • #135,876
  • Jul 13, 2015 8:31am Jul 13, 2015 8:31am
Quoting zamfir
Haven't posted in a while,because i m waiting... I see lots of people struggling.Hope i can help. Few general observations and thoughts. 1. if you have not decided on what TF you want to trade and stick to it, you are in trouble. 2. if you have not decided on strategy and don't have a trade plan. you are in trouble. 3. if you are desperately looking to trade everyday, you are in trouble. 4. Most many not agree with this one, but thats ok. if you are trading on demo, you WILL be in trouble when you trade on a real a/c. only way to get around this...
Point 4.
Very true. Many will not realise this until they risk real money. But to repeat Zam........your mind set will alter as soon as you put real cash on the line. Therefore, when you begin to trade live, simply use small stakes to get used to the shift in your mental zone and all the actions/emotions that come with such a shift. Example - closing a trade too early, rabbit caught in headlights syndrome etc.
every Saint has a past. Every Sinner has a Future
  • #135,877
  • Jul 13, 2015 8:37am Jul 13, 2015 8:37am
Thanks GB.

There are some interesting points made here that you guys may find helpful:
Attached File(s)
File Type: pdf 45 Ways to Avoid Losing Money Trading FOREX.pdf   47 KB | 1,050 downloads
  • #135,878
  • Edited 9:38am Jul 13, 2015 8:56am | Edited 9:38am
Quoting patapouer
{quote} What? said what?? I just remember Ghous stating that what the losers will teach us, the winners won't. Then I guess there is a balance to find between learning and winning
lol. Ah ok. sorry for my misquote friend.

Thanks Inco. Will give that a read.

EUR/JPY H4 PB off resistance. 1st target hit. BE. Letting it run.

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'Fail to plan, plan to fail'
  • #135,879
  • Jul 13, 2015 9:00am Jul 13, 2015 9:00am
this was an amazing trade I missed this morning on the mini dow(forgot to set my alarm)

BUOB pre-emptive breakout, trade it to the close of the open gap. Glad some caught it though
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  • #135,880
  • Jul 13, 2015 12:06pm Jul 13, 2015 12:06pm
Quoting zamfir
Haven't posted in a while,because i m waiting... I see lots of people struggling.Hope i can help. Few general observations and thoughts. 1. if you have not decided on what TF you want to trade and stick to it, you are in trouble. 2. if you have not decided on strategy and don't have a trade plan. you are in trouble. 3. if you are desperately looking to trade everyday, you are in trouble. 4. Most many not agree with this one, but thats ok. if you are trading on demo, you WILL be in trouble when you trade on a real a/c. only way to get around this...
Great post Z

People can define them selfs in this pointers and work from there
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