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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

  • #137,021
  • Sep 22, 2015 9:57am Sep 22, 2015 9:57am
Quoting incognito517
{quote}Nice work Adhavan, I've moved to BE already. Looking good! {image} {quote} Bummer!
My Entry Hit TP, I think you moved ur TP bit earlier...

Adhav
  • #137,022
  • Sep 22, 2015 9:58am Sep 22, 2015 9:58am
Quoting mbqb11
{quote} been super busy guys glad to see everyone in here plugging away I check in daily i promise Wanted to jump in cause this was one of my last posts and i've been super bearish on the indices but just waiting Hope you guys caught this, been watching this area like a hawk. I'm in the SP trade but it played similar on minidow of course It's been a see saw month in my opinion not an easy one to trade. Keep those losses small though is what my goal is always {image} {image} edit*just in case these are replicated for the group using fxpro but my...
we can see prices continue to make their way down now

I'll use the TL and pivot as confluence to manage/lock in profits on the next pullback.

This is really as classic J16 as it get's. Beob at a big clear PPZ, entry on pullback to that pivot(use the pivot from the TOS chart)
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  • #137,023
  • Sep 22, 2015 4:39pm Sep 22, 2015 4:39pm
Quoting incognito517
{quote} Yup! All 3 trades of mine are moving along nicely, almost at TP on EU and GU. You're having a fantastic week too. How the heck do you manage 9 trades simultaneously? I struggle with only 3. You must have like a wall of monitors or something. Good trading, GB.
Yeah, if I have more than 3 trades on at once It can get silly. But this week I just saw more gr8 set ups that had to be taken! Good work there Inco and Ad!
'Fail to plan, plan to fail'
  • #137,024
  • Sep 22, 2015 9:21pm Sep 22, 2015 9:21pm
Quoting mbqb11
{quote} we can see prices continue to make their way down now I'll use the TL and pivot as confluence to manage/lock in profits on the next pullback. This is really as classic J16 as it get's. Beob at a big clear PPZ, entry on pullback to that pivot(use the pivot from the TOS chart) {image} {image}
had a nice little sell off here again decided to close it out for a 5.5% gain
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  • #137,025
  • Sep 22, 2015 9:22pm Sep 22, 2015 9:22pm
got in long eur/aud which is running with it too earlier this evening on the false breakout, and pullback to the PPZ
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  • #137,026
  • Sep 22, 2015 9:40pm Sep 22, 2015 9:40pm
Quoting mbqb11
got in long eur/aud which is running with it too earlier this evening on the false breakout, and pullback to the PPZ {image} {image}
just closed this out for a 1.8% gain
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  • #137,027
  • Sep 23, 2015 3:31am Sep 23, 2015 3:31am
Quoting mbqb11
same thing happened to a bunch of us in the PF K
Quoting mbqb11
got in long eur/aud which is running with it too earlier this evening on the false breakout, and pullback to the PPZ {image} {image}

Hi Mike,

also I was keeping an eye on that. But may I ask why you entered this trade (at the end of NY session).
My strategy with this trade was an entry in LO session with a perspective of a nice break of the pin during NY.
But then I canceled the order at the end of the day and this trade is a perfect example why I have troubles
in comprehending j16 trading.

What I mean there is also the fundamental part of trading and I would never ever risk one or two percent in any
AUD-trade just some hours before the most important weekly piece of data for AUD is released (chinese PMI).
Even if you get in at a nice price an move your stop the inevitable move can go both ways.
Did you entered this trade just from a technical point of view, or how is your approach to this ?

Best,
K
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  • #137,028
  • Sep 23, 2015 6:05am Sep 23, 2015 6:05am
Hello everybody!!!
I returned and found my trade, that I left, had reached TP. It was on last week, but maybe it would be useful for somebody.

AUDUSD (08.09-17.09)
2 day BUPB
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And then there was quite a good BEPB on weekly s/r, but unfortunately I wasn't near computer.

P.S. I had no idea it would be so great & pleasant to open terminal after a break and see bars & look for setups!))
  • #137,029
  • Sep 23, 2015 6:35am Sep 23, 2015 6:35am
Hey everyone-

Here's the deal if I'm being totally honest - I'm not a good trader. I so desperately want to be able to provide for my family through trading instead of a typical job. I've been at this now for around 7 years and sometimes I feel no closer than when I started. I've tried all indicators, systems, etc. and I really do think James16 is the way to go. The problem is that during backtesting it's SO easy and yet when I try to do it in real time I seem only to pick the losers. I'm amazed at the people who just 'get it' and wish I could get on the other side of trading and confidently say "I figured it out".

Sometimes I'm not even sure if the whole A+ trade makes a difference - I've taken A+ trades that fail and have taken D trades that turn into a runner - I have even thought of waiting for a good trade and taking it in the opposite direction since I'm typically wrong!

Here is a trade I took yesterday on the AUDJPY - good support, nice round number, etc....

Bottom line, I just don't know what to do and could really use some input from people who have been in the same situation
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  • #137,030
  • Sep 23, 2015 7:04am Sep 23, 2015 7:04am
Quoting Grover
Hey everyone- Here's the deal if I'm being totally honest - I'm not a good trader. I so desperately want to be able to provide for my family through trading instead of a typical job. I've been at this now for around 7 years and sometimes I feel no closer than when I started. I've tried all indicators, systems, etc. and I really do think James16 is the way to go. The problem is that during backtesting it's SO easy and yet when I try to do it in real time I seem only to pick the losers. I'm amazed at the people who just 'get it' and wish I could get...
Hey Grover. Welcome friend. Sorry you're having a hard time. J16 is a solid method so you're in the right place I reckon. Don't lose any more money. I assume you took that pin bar you've marked? I have attached a chart with some observations of that trade. Others may have further suggestions. It is counter trend, so the probability of success is less, also PB has a bearish close, which lowers probability if we want to go long. Bullish close preferred usually. Look left. Lot's of congestion you're trading into. Not good. Have you read page 1 post 1 of this thread? Check out all the links in that post which is packed with the info you need to trade this style. Take care of yourself and keep it going. GB.

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'Fail to plan, plan to fail'
  • #137,031
  • Sep 23, 2015 7:38am Sep 23, 2015 7:38am
Quoting Grover
Hey everyone- Here's the deal if I'm being totally honest - I'm not a good trader. I so desperately want to be able to provide for my family through trading instead of a typical job. I've been at this now for around 7 years and sometimes I feel no closer than when I started. I've tried all indicators, systems, etc. and I really do think James16 is the way to go. The problem is that during backtesting it's SO easy and yet when I try to do it in real time I seem only to pick the losers. I'm amazed at the people who just 'get it' and wish I could get...
I don't pretend to be trade master, I'm just a novice, but Guitarbloke is absolutely right! Read first post carefully, re-read it once more & start trade only on daily timeframes. No 4hour charts until you're confident in your trading system and strategy based on daily charts. I've made the same mistake in August, opened 4hour charts hoping to find more setups, more profit to cover losses & in the end lost 15% more of my account. But I stopped & re-read first post. Now 4hour charts are taboo for me))
Trading on daily charts is quite enough for providing sufficient profit on long term.
  • #137,032
  • Sep 23, 2015 7:55am Sep 23, 2015 7:55am
Quoting Kershey
{quote} {quote} Hi Mike, also I was keeping an eye on that. But may I ask why you entered this trade (at the end of NY session). My strategy with this trade was an entry in LO session with a perspective of a nice break of the pin during NY. But then I canceled the order at the end of the day and this trade is a perfect example why I have troubles in comprehending j16 trading. What I mean there is also the fundamental part of trading and I would never ever risk one or two percent in any AUD-trade just some hours before the most important weekly piece...
Hey K

I'm pretty much a 99% pure technical trader. If a trade setup presents itself i'm going to take it. When volatility is good i'll take trades any time of day. When it is low i'll stick to the main sessions. I had no idea chinese PMI was coming out and if I did it wouldn't change my thought process.

Again a LONG time ago i made the decision after R&D it was not necessary to follow news. Only very few pieces of news am i aware of when coming out. Mostly very crucial interest rates(like last week) but even with that said generally it doesn't change what I am doing

Hope that helps
Mike
  • #137,033
  • Sep 23, 2015 8:07am Sep 23, 2015 8:07am
Quoting Grover
Hey everyone- Here's the deal if I'm being totally honest - I'm not a good trader. I so desperately want to be able to provide for my family through trading instead of a typical job. I've been at this now for around 7 years and sometimes I feel no closer than when I started. I've tried all indicators, systems, etc. and I really do think James16 is the way to go. The problem is that during backtesting it's SO easy and yet when I try to do it in real time I seem only to pick the losers. I'm amazed at the people who just 'get it' and wish I could get...

Hey Grover

You are not alone my friend and the best pieces of advice I can give you is that it's just going to take time and repetition in the long run. If you put a ton of pressure on yourself it's going to be even harder to get over the hump. It's crucial you keep your emotions as far out of it as possible.

As for A+ and D trades etc. You are 100% correct. Both can not work and both can work. the ONLY thing I have ever found that actually makes someone profitable in the long run is consistency. Anyone can have a great trade or a great month but those that actually will be around year in and year out take a consistent approach when applying your edge. So you can not be discouraged when great looking trades don't work or poor looking trades do work. Instead the focus for me personally is being picky, consistent and managing those trades as effectively possible to cut my losses when needed.

This was a TOUGH month in my book. I was up a little then down a little then up a little ALL month. While their were many trades it was ONLY because i was consistent in my approach that finally a few great trades came through and pushed me up a nice amount for the month. So I can not stress enough that this is the most important element to a long term successful trader. What happens to new folks is they see decent trades not work or bad trades work and they want to trade and play everything. The death of most traders is over trading and in fact getting rewarded on bad trades is the worst thing that can happen. I see it all the time. Because then the next month comes and they try to do the same thing and give back everything and much more.

As for aud/jpy you already got some great help there but let me expand on it too

Firstly why did price bounce here? Price is in a larger box and this is the midpoint of the box. It is an area that can hold price. But notice the MUCH larger bearish move into this area. Then you get a tiny little pin(as GB said under the BRN) price temporarily bounces and then falls again. How do you stay away from this? When I see a tiny little bar like that I don't give it a second look. Sure could that pin perhaps bounced price even further? Maybe. But many many more will do this. So again this is a perfect example of a trade that people see a pinbar at a s/r area and say man it's gotta go higher. But it's also a trade that has so much going against it and in the long run will be VERY hard to manage.

Now let me show you my trade from last week from the pf. I used the stronger area(the tops and bottoms of boxes to me are much easier to trade). I got a LARGE beob. But the key here was I took the trade on a retrace to the top of the box. I used that midpoint to EXIT instead of to enter. This gives me a low risk situation with a nice reward area to work into.

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So take a step back, it's OK that you are learning. it's the ONLy way to get through this stuff. Mistakes are what teach us what to do. Keep going and keep learning and you will continue to make progress

Best of luck!
Mike
  • #137,034
  • Sep 23, 2015 8:09am Sep 23, 2015 8:09am
GBP/USD W1. BEOVB. Moving down nicely. Profit locked in. I'll let market take me out or keep riding it down. Good to celebrate those rare big winners.

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'Fail to plan, plan to fail'
  • #137,035
  • Sep 23, 2015 8:10am Sep 23, 2015 8:10am
Quoting mbqb11
{quote} Hey Grover You are not alone my friend and the best pieces of advice I can give you is that it's just going to take time and repetition in the long run. If you put a ton of pressure on yourself it's going to be even harder to get over the hump. It's crucial you keep your emotions as far out of it as possible. As for A+ and D trades etc. You are 100% correct. Both can not work and both can work. the ONLY thing I have ever found that actually makes someone profitable in the long run is consistency. Anyone can have a great trade or a great...

And now just to show you that it's about consistency. Here is the SAME type of approach I just took to get back into my SP500 trade. We have a BOX with a beob forming at the top of the box. Where did I sell? Look at this and look at aud/jpy. It's the SAME thing. Consistency

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  • #137,036
  • Sep 23, 2015 5:21pm Sep 23, 2015 5:21pm
Quoting antisystem
Hello everybody!!! I returned and found my trade, that I left, had reached TP. It was on last week, but maybe it would be useful for somebody. AUDUSD (08.09-17.09) 2 day BUPB {image} And then there was quite a good BEPB on weekly s/r, but unfortunately I wasn't near computer. P.S. I had no idea it would be so great & pleasant to open terminal after a break and see bars & look for setups!))
'Fail to plan, plan to fail'
  • #137,037
  • Sep 23, 2015 5:23pm Sep 23, 2015 5:23pm
Quoting mbqb11
{quote} Hey Grover You are not alone my friend and the best pieces of advice I can give you is that it's just going to take time and repetition in the long run. If you put a ton of pressure on yourself it's going to be even harder to get over the hump. It's crucial you keep your emotions as far out of it as possible. As for A+ and D trades etc. You are 100% correct. Both can not work and both can work. the ONLY thing I have ever found that actually makes someone profitable in the long run is consistency. Anyone can have a great trade or a...
Thanks Coach. Right on.
'Fail to plan, plan to fail'
  • #137,038
  • Sep 24, 2015 8:26am Sep 24, 2015 8:26am
Quoting mbqb11
{quote} And now just to show you that it's about consistency. Here is the SAME type of approach I just took to get back into my SP500 trade. We have a BOX with a beob forming at the top of the box. Where did I sell? Look at this and look at aud/jpy. It's the SAME thing. Consistency {image} {image}
took profit at box low for a bit over 2% gain
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  • #137,039
  • Sep 24, 2015 8:27am Sep 24, 2015 8:27am
here's another I took late last night

breakout of the wedge using the 4hr beob, closed out for a little over 1% on this one


So a tough month that had me down 2% then up 2% then down 2% all month was like that, now i'm up 8.5% for the month

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  • #137,040
  • Sep 24, 2015 11:48am Sep 24, 2015 11:48am
well the markets have been giving to me so i'll keep taking what I can get

this was a .5% gain on a "wick" play using the boundaries of the 4hr channel and swing point

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