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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

  • #137,901
  • Dec 16, 2015 4:34am Dec 16, 2015 4:34am
Quoting antisystem
{quote} I'm holding short position(((...
Where did you go short if I may ask?

I've taken some profit at the FTA and moved my SL as well. If I get stopped out I'll break even.
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  • #137,902
  • Dec 16, 2015 4:51am Dec 16, 2015 4:51am
Quoting incognito517
{quote} Where did you go short if I may ask? I've taken some profit at the FTA and moved my SL as well. If I get stopped out I'll break even.{image}
Hm, somehow I deleted my post)) I entered BEOB before your PB. Now I see my mistake....
  • #137,903
  • Dec 16, 2015 5:45am Dec 16, 2015 5:45am
Quoting antisystem
{quote} Hm, somehow I deleted my post)) I entered BEOB before your PB. Now I see my mistake....
Oh I see technically you're still in.
  • #137,904
  • Dec 16, 2015 5:48am Dec 16, 2015 5:48am
I’m going to be away on a little 2 week holiday. I just wanted to wish all of you a happy festive season. This is the only Christmas greeting you’re getting from me BTW, so don’t expect anything in the post . I’ll be back before the new site launches. Take care.
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  • #137,905
  • Dec 16, 2015 6:00am Dec 16, 2015 6:00am
Quoting Gregory_
{quote} This is no joke, from my personal experience. I probably lost $40K in my 7 years of exploration (all before learning James16 basics). I am quickly making that back now. It only took about 6-8 months of education, and after that, my first full year of trading was in profit. This year, I have probably tripled my profit percentage from that first year. Now, everyone is different, of course. Some people are profitable in a short amount of time and, others, it takes longer. Does it matter though how long it takes? I firmly believe the group is...
Hi Gregory ,

can you tell me in which forum exactly we can study and follow Fijitrader's posts ?

Thanks
  • #137,906
  • Dec 16, 2015 8:47am Dec 16, 2015 8:47am
Quoting baavgai
{quote} Hi Gregory , can you tell me in which forum exactly we can study and follow Fijitrader's posts ? Thanks
Hey B

fiji is no longer with the j16group , just a heads up

Best
Mike
  • #137,907
  • Dec 16, 2015 8:48am Dec 16, 2015 8:48am
Quoting incognito517
Im going to be away on a little 2 week holiday. I just wanted to wish all of you a happy festive season. This is the only Christmas greeting youre getting from me BTW, so dont expect anything in the post . Ill be back before the new site launches. Take care.{image}
lol cute pic

Enjoy your holiday catch ya in the new year


Mike
  • #137,908
  • Dec 16, 2015 8:49am Dec 16, 2015 8:49am
Quoting gasgas
{quote} I do agree with that, expectations must be in sync with trading additude. For me anything above 15k/year could be considerate as live from trading lol so ya it can be done. Thought i would never JUST trade. If you trade lets say daily only thats what? 1hour screen time per day? Gotta put another 23hours on some use right. Mabey get a ''easy''day job, mini business on a side itc... Was never my dream spending 8+ hours/day at screens watching charts, that would be boring as hell lol.
Yep good points GG

I spend very little time actually trading. I might spend a total screen time of a few hours a day , and the other 12 on the j16 site. It's certainly not fun to be glued to the screen watching a 5 min chart for me

Best
Mike
  • #137,909
  • Dec 16, 2015 1:57pm Dec 16, 2015 1:57pm
Aud finally moving..after news..

GBPAUD

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AUDUSD

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AUDJPY

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EURCAD

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  • #137,910
  • Dec 16, 2015 2:12pm Dec 16, 2015 2:12pm
Quoting zamfir
Aud finally moving..after news.. GBPAUD {image} AUDUSD {image} AUDJPY {image} EURCAD {image}
Nice setups, zamfir.

Can you share how many percent of your trades isnt loosers (in other words how many percent of your trades is profitable or break even)? It seems you are posting only good ones so this question comes to my head. Thanks in advance.
  • #137,911
  • Dec 16, 2015 2:38pm Dec 16, 2015 2:38pm
Quoting wellard
{quote} Nice setups, zamfir. Can you share how many percent of your trades isnt loosers (in other words how many percent of your trades is profitable or break even)? It seems you are posting only good ones so this question comes to my head. Thanks in advance.
I do have losers , but they are due to my mistakes. some very obvious , some not so obvious.

I keep a record of the losers and what mistakes i make in my journal and i try not to make those mistakes again. This is how i measure my progress.

Also most losers come from experimental trades , which i know i should not be taking but do anyways. This has to do with my own psychological issues. Sometimes i deviate from my trading plans.

if you want i can post losers too. Most of my losers come from silly mistakes and experimental trades.

Its just that you have to win more times than you lose at the end of the month while learning to be net positive.

The learning process never ends , you always keep learning something new every week or month. This is an area where i need to bring some stability and stop the experimental trades.
  • #137,912
  • Dec 16, 2015 3:13pm Dec 16, 2015 3:13pm
Quoting incognito517
{quote} Oh I see technically you're still in.
Not for a long time))) I decided to end trading with live account, I think I'm not ready for it now.... (loss reached more than 30%)
Returning to demo trading & waiting for new j16 site)
  • #137,913
  • Dec 16, 2015 3:17pm Dec 16, 2015 3:17pm
Quoting zamfir
{quote} I do have losers , but they are due to my mistakes. some very obvious , some not so obvious. I keep a record of the losers and what mistakes i make in my journal and i try not to make those mistakes again. This is how i measure my progress. Also most losers come from experimental trades , which i know i should not be taking but do anyways. This has to do with my own psychological issues. Sometimes i deviate from my trading plans. if you want i can post losers too. Most of my losers come from silly mistakes and experimental trades. Its just...
Thanks for answer. So if I understand it righ, you have very high percentage of succesfull trades (profitable + B/E ones) if you are sticking to your plan based on PA.
  • #137,914
  • Dec 16, 2015 3:22pm Dec 16, 2015 3:22pm
Quoting wellard
{quote} Thanks for answer. So if I understand it righ, you have very high percentage of succesfull trades (profitable + B/E ones) if you are sticking to your plan based on PA.
yes.

The hardest part for you all will be picking the best S/Rs. Playing PA is not an issue for most. Picking the best S/Rs is where a lot of practice and testing is required.
  • #137,915
  • Dec 16, 2015 3:36pm Dec 16, 2015 3:36pm
Quoting zamfir
{quote} yes. The hardest part for you all will be picking the best S/Rs. Playing PA is not an issue for most. Picking the best S/Rs is where a lot of practice and testing is required.
I am trying to stick to S/R levels (HL, TL, BR) which have:

  1. more then few touches
  2. more precise touches are better touches

Example of this is now TL on AUDCAD daily for me.

Do you have any tips for improve S/R tuning?

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  • #137,916
  • Dec 16, 2015 3:45pm Dec 16, 2015 3:45pm
Quoting wellard
{quote} I am trying to stick to S/R levels (HL, TL, BR) which have: more then few touches more precise touches are better touches Example of this is now TL on AUDCAD daily for me. Do you have any tips for improve S/R tuning? {image}
This is my entry again on AUDCAD.

See the S/R Zone. Pretty straightforward in a uptrend.

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  • #137,917
  • Dec 16, 2015 4:02pm Dec 16, 2015 4:02pm
Quoting zamfir
{quote} This is my entry again on AUDCAD. See the S/R Zone. Pretty straightforward in a uptrend. {image}
So you are combinng two S/R areas ... Trendline with Horizontal S/R. I was looking that you are in many times looking for Big Round numbers.
  • #137,918
  • Dec 16, 2015 7:08pm Dec 16, 2015 7:08pm
Quoting baavgai
{quote} Hi Gregory , can you tell me in which forum exactly we can study and follow Fijitrader's posts ? Thanks
Hi baavgai. What I did is just went to Fijitrader's profile and read every single post he made, starting from the beginning. I am fairly sure you can still do this on his profile.

In retrospect, that was a very useful thing for me, at the time (before I joined J16). I was not even using proper money management in my trading. Reading his posts taught me proper money management. So, when I joined the J16 group, I already knew quite a bit of that side of the coin. Hugely important.

http://www.forexfactory.com/fijitrader
The game taught me the game.
  • #137,919
  • Dec 16, 2015 7:11pm Dec 16, 2015 7:11pm
Quoting antisystem
{quote} Not for a long time))) I decided to end trading with live account, I think I'm not ready for it now.... (loss reached more than 30%) Returning to demo trading & waiting for new j16 site)
I am glad to see you make this decision. This is probably one of the most important things that Jim teaches. Demo trading teaches patience, and in my opinion, that is truly one of the most important assets of a trader. After that, I would say it is the tenacity to keep fighting to learn how to trade/invest/etc., no matter what happens.
The game taught me the game.
  • #137,920
  • Edited Dec 17, 2015 1:17am Dec 16, 2015 11:52pm | Edited Dec 17, 2015 1:17am
Quoting wellard
{quote} So you are combinng two S/R areas ... Trendline with Horizontal S/R. I was looking that you are in many times looking for Big Round numbers.

If it bounces off the T/L, the first issue will be getting through the Very Big Round Number of 1.00000. Once through there it may stumble at the top of the box (which is the 2nd resistance area). Note that the top of the box is not set yet as there generally has to be a 2 or 3 days where the high is not reached or breached. Same for the bottom of the box.
When the top and bottom are confirmed, if it then breaks out upward, it should be happy days and a 2nd parcel can be bought on a solid break of that box top (treated as a completely separate trade ofc).
That's my take on this pair anyhow
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