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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

  • #138,461
  • Feb 5, 2016 2:47pm Feb 5, 2016 2:47pm
Quoting mbqb11
{quote} Hey K I know you are frustrated with losses but it's important you are on DEMO while you learn from your losses and the mistakes you are making This pinbar was in a ton of traffic. It had no room to run. It still did go to the FTA. Have you seen my video on space vs traffic? Notice here price has no space so right when the pin breaks you are at a first and major trouble area, in this case specifically the BRN of 85. We don't want to say because price is bouncing of a support much lower it should keep going higher. We can't view a pinbar...
Hey Mike. I'm currently learning about PB's and this one was on my watchlist today. You have said a few things here that confuse me so if you could explain when you have the time please:

1. When you say it reached the FTA, are you talking about the BRN? I've been watching the WIPG series and i don't recall Jim ever mentioning that BRN's come into calculation as the FTA - it's always bar highs/lows as far as i can recall. On this chart for me the first FTA is the bar lows and highs to the right (see top blue line on chart below) - or have i missed something lol?
2. Don't PB's generally signal of price reversal and therefore by nature work there way back into traffic? I know there is light traffic and heavy traffic, light traffic being the preferred ofc but it would be beneficial here if you could explain in more detail why this is heavy traffic?
Cheers,
Bill
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  • #138,462
  • Feb 5, 2016 3:04pm Feb 5, 2016 3:04pm
Quoting Bill618
{quote} Hey Mike. I'm currently learning about PB's and this one was on my watchlist today. You have said a few things here that confuse me so if you could explain when you have the time please: 1. When you say it reached the FTA, are you talking about the BRN? I've been watching the WIPG series and i don't recall Jim ever mentioning that BRN's come into calculation as the FTA - it's always bar highs/lows as far as i can recall. On this cahrt for me the first FTA is the bar lows and highs to the right (see blue line on chart below) - or have i missed...
Hey Bill

For me the FTA was reached on this one. That BRN lines up just a few pips under the previous low. You'll see jim also point out these RNs in relationship to highs/lows etc. But the bigger idea here is that we have ZERO space. Space will allow price to flow through to your trouble areas easier. A pinbar that is not at a swing low or a very minor swing low will by it's nature not have space. Space is created by better swings.

As for a pinbar, yes it is a sign of reversal, just like an outside bar. BUT the key we have to think about is should price KEEP reversing. Remember reversal or buyers create that pinbar. But why should price KEEP going. The weight of that comes from the location and confluence.

I just posted a video in the PF about where that pinbar should be located to give us a better and easier trade to manage and understand. Bill i know you are a member so you'll find it there.

I've also uploaded that video to our guest area too for those interested. It covers a bunch of concepts that are directly related to the above question and directly talk about that chart too using a members question to springboard

https://www.james16group.us/wp/guest-area

Best
Mike
  • #138,463
  • Feb 5, 2016 3:25pm Feb 5, 2016 3:25pm
Quoting Kershey
{quote} 6 weeks no losses straight, and 2 trades fuck you up, typical for J16method. {image}
No offense but do you know anything about money management? I mean literary. if you toss a coin and trade with 10% of your equity at risk every time, you cannot blow up your account sooner than 30-40 losses in a row. what on earth did you do in those two trades? I guess the reason for the first one was greed and the reason for the second one was anger (because it seems like a revenge type to me).
  • #138,464
  • Feb 5, 2016 3:34pm Feb 5, 2016 3:34pm
Quoting mbqb11
{quote} I've also uploaded that video to our guest area too for those interested. It covers a bunch of concepts that are directly related to the above question and directly talk about that chart too using a members question to springboard https://www.james16group.us/wp/guest-area Best Mike
Great video Mike, thanks. I hope everyone watches this. I think you will find this useful Kershey. Highly recommended by the axeslinger from down south.
'Fail to plan, plan to fail'
  • #138,465
  • Feb 5, 2016 4:04pm Feb 5, 2016 4:04pm
Quoting mbqb11
{quote} Hey Bill For me the FTA was reached on this one. That BRN lines up just a few pips under the previous low.
Thanks for the response Mike. Thanks so much for doing a Vid on this and i look forward to watching it later today

There's defo some issues with this PB, not a good trade! However where the next bar got to (your FTA) was about 20+ pips below the next bar lows/highs cluster, which is a fair distance if i'm not mistaken? I could be mistaken...

Perhaps i'm being to technical with all this stuff! Anyway i'm sure the Vid will help.

Cheers Big Ears.
  • #138,466
  • Feb 5, 2016 4:10pm Feb 5, 2016 4:10pm
Quoting Bill618
{quote} Thanks for the response Mike. Thanks so much for doing a Vid on this and i look forward to watching it later today There's defo some issues with this PB, not a good trade! However where the next bar got to (your FTA) was about 20+ pips below the next bar lows/highs cluster, which is a fair distance if i'm not mistaken? I could be mistaken... Perhaps i'm being to technical with all this stuff! Anyway i'm sure the Vid will help. Cheers Big Ears.
Hey Bill

yes in my view you are being but only because our thoughts should be more on HOW it gets there. For example on a break of the bar we have roughly 34 pips to that low, but also the BRN ahead of it which will notoriously bounce price. Remember price is not perfect, it's always think about the AREA. What's more important a BRN that notoriously flips price or one single bar low. If we think about it that way it becomes more and more unappealing as whole.

BUT....

The bigger key though is we have very little options for trade mgmt. So is it worth just HOPING it gets there? Sure it will a lot of times(again in my opinion it got to the BRN that's fair game after that) but is it worth putting yourself in the spot that it's 30ish pips to get in a situation that has no confluence and no room? That's the REAL key here. The confluence for this trade resides very far away from execution. Those are the bars that give people the most trouble.

Once you see the video you'll better understand what I mean about it being worth it. Of course for me it's not, doesn't mean it won't be for someone else, but my reasons are specific so I can replicate that trade to trade

Enjoy the weekend folks
Mike
  • #138,467
  • Feb 5, 2016 5:15pm Feb 5, 2016 5:15pm
Quoting mbqb11
{quote} Hey Bill yes in my view you are being but only because our thoughts should be more on HOW it gets there. For example on a break of the bar we have roughly 34 pips to that low, but also the BRN ahead of it which will notoriously bounce price. Remember price is not perfect, it's always think about the AREA. What's more important a BRN that notoriously flips price or one single bar low. If we think about it that way it becomes more and more unappealing as whole. BUT.... The bigger key though is we have very little options for trade mgmt. So...
Understood.
Go get some sleep!
  • #138,468
  • Feb 5, 2016 5:30pm Feb 5, 2016 5:30pm
Quoting Kershey
It took me 1 year following this thread, to realize that this method has marginally to do with trading, its a PRODUCT. A commercial product sold to a market in order to make a profit.
Kershey,

The truth should be told, I have a TON of criticism about James but what he teaches (I can't even call it teach) is REAL and it works.

In my opinion, you have a ZERO chance to get it right if you don't try to develop and try to learn all the little nuances, nuances that you can learn from Mike in the PF...

Mike had stated correctly, trading is not for everybody. if you react that way, maybe it's not for you.
  • #138,469
  • Feb 6, 2016 4:16am Feb 6, 2016 4:16am
Hi Team.

What kind of trader are you?
How can options be utilized to find that ever elusive "edge"?

These questions and more are discussed every week in our options webinars. Consider viewing the market with a different lens, and perhaps in a brand new perspective that you have never even considered.

Happy Trading!
Kevin

https://www.james16group.us/wp/guest-area
  • #138,470
  • Feb 6, 2016 4:38am Feb 6, 2016 4:38am
Quoting ebitalebi
{quote} No offense but do you know anything about money management? I mean literary. if you toss a coin and trade with 10% of your equity at risk every time, you cannot blow up your account sooner than 30-40 losses in a row. what on earth did you do in those two trades? I guess the reason for the first one was greed and the reason for the second one was anger (because it seems like a revenge type to me).
Great post! )))
  • #138,471
  • Feb 6, 2016 5:13am Feb 6, 2016 5:13am
Quoting kevins
Hi Team. What kind of trader are you? How can options be utilized to find that ever elusive "edge"? These questions and more are discussed every week in our options webinars. Consider viewing the market with a different lens, and perhaps in a brand new perspective that you have never even considered. Happy Trading! Kevin https://www.james16group.us/wp/guest-area
Hey Kevin. Hope you're well. A question related to the Swiss bank/franc debacle a year or so ago. In FX, many folk lost a lot because market moved so fast, stops couldn't be filled. This could happen again. But with options, is a traders risk protected? e.g. can you sleep at night? lol. I'm new to options so still learning the process, but I'm told it's less risky with regard to a market crash like the swissy.

Thanks, GB.
'Fail to plan, plan to fail'
  • #138,472
  • Feb 6, 2016 6:17am Feb 6, 2016 6:17am
We have had many members over the last ten years treat this as a business and if they never learned how to cook on demo they were smart enough to know opening a restaurant wasn't going to do anything but crash and burn. I have hundreds of these and they come in every week. Here is the latest. This guy took 16 months trying to go 6 months in a row without a losing month and when you do that with what I have taught for ten years and personally done for over 30 this is what happens more often than not.

Sent: Friday, February 5, 2016 4:24pm
To: [email protected], "JAMES16 GROUP - MIKE" <[email protected]>
Subject: Thanks!

"Hi Jim + Mike,
Congrats on getting the new site up and running, it looks great and I think we all feel that energy behind it.
This is long overdue, but I'm writing to say a heartfelt thank you to both of you. I found J16 via Forex Factory many years ago, signed up to the site a year later, and went full time about a year and a half later (2012). I had some early up and downs, but I've stayed the course and things have been absolutely super for the last 2 years.
Trading has been a life saver. I got sick at college, dropped from 4.0GPA to academic probation halfway through my sophomore year. I've got a sleep disorder called narcolepsy, and it destroyed so many academic and career pursuits. But it forced me to find non traditional income sources, career paths etc....and trading has been a consistent blessing, even in the days I thought it wouldn't work. I've done a lot of different freelancing work, but always part time traded in the background. When I finally made the 100% commitment to this path, things exponentially improved.
Highlights:

  1. got professional backing for crude oil futures (my main focus)
  2. spent most of the last 2 years on the road, in Jordan, England, and Puerto Rico, and have been able to visit many old friends in those areas and in other cities in the US
  3. paid off all personal debts
  4. (finally) started helping out my folks and will be taking my dad on a trip later this year

I've had some dark days, but I couldn't ask for things to be going any better than they are right now. I owe you guys more than I can put into words.
Best of luck with all your pursuits; I'll do a better job of staying active on the forum from here on out.
Thanks again to both of you.
Best,
Dan"

If you want to see how you can actually learn to daytrade then watch this. This simple little video taken and used with common sense for about 6 months is worth 100 times what we charge for a full years membership. Here ya go. YOU WILL NEVER FIND ANYTHING ANYWHERE THAT GIVES YOU A BETTER CHANCE TO FIND SOME SUCCESS THAN WHATS CONTAINED IN THIS LITTLE VIDEO. ITS YOURS FOR FREE. I DID IT TODAY. TAKE THAT VIDEO AND WORK HARD FOR SIX MONTHS FOLLOWING ITS ADVICE AND YOU WONT BE BUYING ANY MORE EMPTY PROMISES FROM 24 YEAR OLD INTERNET MARKETERS SITTING IN MOM AND DADS BASEMENT TELLING YOU THEY ARE FOREX TRADERS.

https://www.james16group.us/wp/day-t...o-can-you-cook






Quoting james16
OK here is truth. Im gonna respond instead of react. Can you provide proof of at least 6 months in a row of profit on demo? YES OR NO? EVERY SINGLE JAMES16 MEMBER IS TOLD THIS. GO READ THE FIRST POST ON THIS THREAD FROM 10 YEARS AGO. If you did not prepare yourself for your new business to have a chance at success then your the same thing I used to be. An idiot. The day you call yourself that you will have a chance. not until. Mike may be nice but I will tell you what you really need to hear. why? I honestly care. I know the pain. If anyone that...
  • #138,473
  • Feb 6, 2016 6:29am Feb 6, 2016 6:29am
Quoting james16
We have had many members over the last ten years treat this as a business and if they never learned how to cook on demo they were smart enough to know opening a restaurant wasn't going to do anything but crash and burn. I have hundreds of these and they come in every week. Here is the latest. This guy took 16 months trying to go 6 months in a row without a losing month and when you do that with what I have taught for ten years and personally done for over 30 this is what happens more often than not. Sent: Friday, February 5, 2016 4:24pm To: [email protected],...
Is this video free ? I clicked on the link and was presented with a page asking me to pay for membership?
every Saint has a past. Every Sinner has a Future
  • #138,474
  • Feb 6, 2016 8:05am Feb 6, 2016 8:05am
Quoting Guitarbloke
That PB you bought was not at a swing low. I do this too often and it results in losses. Buy PB from swing low, and sell PB from a swing high, not in the middle. This gives a much higher probability of success.
I was about to open a new thread and ask this question. I also have observed that pin bar/engulfing pattern combined with double top/bottom are more likely to make a reversal than pinbars/engulfing patterns that appear elsewhere. And I like to know the opinions of other members about it.

Well this is my first post. I started to learn Forex about an year ago, though I registered with forexfactory a few weeks ago. I have tried many systems here in forexfactory but didn't have much success. It is true that there are people who successfully use indicator based systems but they didn't work for me. It is only recently that I got interested in learning price action.
  • #138,475
  • Feb 6, 2016 9:27am Feb 6, 2016 9:27am
Quoting turnip15
{quote} Is this video free ? I clicked on the link and was presented with a page asking me to pay for membership?
it's in the guest area Jim linked directly to it but it's protected behind our disclaimer

Use this link T

https://www.james16group.us/wp/guest-area


Best
Mike
  • #138,476
  • Feb 6, 2016 9:59am Feb 6, 2016 9:59am
Quoting mbqb11
{quote} it's in the guest area Jim linked directly to it but it's protected behind our disclaimer Use this link T https://www.james16group.us/wp/guest-area Best Mike

You're still redirected and asked to log in.

"Can you cook?" isn't in the free video area.
  • #138,477
  • Feb 6, 2016 10:12am Feb 6, 2016 10:12am
Quoting Bryan
{quote} You're still redirected and asked to log in. "Can you cook?" isn't in the free video area.
ok should be fixed. James is still learning the new technology LOL


Thanks guys!
  • #138,478
  • Feb 6, 2016 10:30am Feb 6, 2016 10:30am
Quoting mbqb11
{quote} ok should be fixed. James is still learning the new technology LOL Thanks guys!

Thanks James and Mike
  • #138,479
  • Feb 6, 2016 12:31pm Feb 6, 2016 12:31pm
Mike told me I gave y'all wrong link. Mike spends a lot of time making sure I'm right instead of wrong but at least I can admit it and say thanks. Thanks mike for keeping the old man out of trouble as much as you can. Lol

https://www.james16group.us/wp/guest-area


Quoting james16
We have had many members over the last ten years treat this as a business and if they never learned how to cook on demo they were smart enough to know opening a restaurant wasn't going to do anything but crash and burn. I have hundreds of these and they come in every week. Here is the latest. This guy took 16 months trying to go 6 months in a row without a losing month and when you do that with what I have taught for ten years and personally done for over 30 this is what happens more often than not. Sent: Friday, February 5, 2016 4:24pm To: [email protected],...
  • #138,480
  • Feb 6, 2016 3:41pm Feb 6, 2016 3:41pm
Quoting TrendyRanger
{quote} I was about to open a new thread and ask this question. I also have observed that pin bar/engulfing pattern combined with double top/bottom are more likely to make a reversal than pinbars/engulfing patterns that appear elsewhere. And I like to know the opinions of other members about it. Well this is my first post. I started to learn Forex about an year ago, though I registered with forexfactory a few weeks ago. I have tried many systems here in forexfactory but didn't have much success. It is true that there are people who successfully...
Welcome TR. Yes, PB's and engulfing bars are reversal signals and often work best selling them at swing highs or buying at swing lows providing the way is clear. You have found a good place. The whole FF site has some great stuff, but this thread has a direct focus on price action (PA). For me, learning and understanding price action gives us far better knowledge and control over our trading. Start on page 1 and read all the links on post 1 if you haven't already. There are some useful video's in the J16 site guest area too. All the best friend. GB.
'Fail to plan, plan to fail'
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