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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

  • #1,001
  • Sep 3, 2006 1:11am Sep 3, 2006 1:11am
James, Great thread, I only just reading it now, I'm thinking of joining your group possibly, most likely actually.

For now I'm wondering if you could answer this one question, in your first few posts on this thread, you have the charts with for example the dblhc
My question is, does the high close on the 2nd bar have to close higher then the highest point of the first bar, or does it just have to close higher then the first bars close? I'm pretty sure it has to close higher then the first bars high point, but I just want to be sure.

Thanks
  • #1,002
  • Sep 3, 2006 1:58am Sep 3, 2006 1:58am
hello strick, let me post a chart. thanks for the kind words.
Quoting stricko108
James, Great thread, I only just reading it now, I'm thinking of joining your group possibly, most likely actually.

For now I'm wondering if you could answer this one question, in your first few posts on this thread, you have the charts with for example the dblhc
My question is, does the high close on the 2nd bar have to close higher then the highest point of the first bar, or does it just have to close higher then the first bars close? I'm pretty sure it has to close higher then the first bars high point, but I just want to be sure.

Thanks
  • #1,003
  • Sep 3, 2006 2:17am Sep 3, 2006 2:17am
here you go strick.
Quoting stricko108
James, Great thread, I only just reading it now, I'm thinking of joining your group possibly, most likely actually.

For now I'm wondering if you could answer this one question, in your first few posts on this thread, you have the charts with for example the dblhc
My question is, does the high close on the 2nd bar have to close higher then the highest point of the first bar, or does it just have to close higher then the first bars close? I'm pretty sure it has to close higher then the first bars high point, but I just want to be sure.

Thanks
Attached Image
  • #1,004
  • Sep 3, 2006 1:09pm Sep 3, 2006 1:09pm
Jim can I know what is that MA u got on your chart you posted
  • #1,005
  • Sep 3, 2006 1:56pm Sep 3, 2006 1:56pm
i figured you probably knew jotty.

its the 365 ema. for those of you who have never plotted a 365 ema on your charts do so now. its use as support and resistance will amaze you. just visually its impressive.

Quoting jotty
Jim can I know what is that MA u got on your chart you posted
  • #1,006
  • Sep 3, 2006 2:25pm Sep 3, 2006 2:25pm
Quoting james16
its use as support and resistance will amaze you. just visually its impressive.
Oh yes it does jim, it does,
you're posts are great and very inspring, thank you, you're my hero at the FF

I'm soon joining the PF i can't say no

Keep it up
Trading is a long and a short story.
  • #1,007
  • Sep 4, 2006 10:06am Sep 4, 2006 10:06am
Thanks for all the reeducation on this thread. I definetly need help making the visual adjustment over from candles. I am halfway through the thread and my eyes are crossed and I am beginning to look like a pin bar.

I guess this is going to take some time. I am appreciating everyones efforts and look forward to making some pips.
  • #1,008
  • Sep 4, 2006 9:30pm Sep 4, 2006 9:30pm
James, i'm just wondering, you mentioned that you will be taking live trades using pinbar setups with the subscribers, im just wondering if that worked out and if so, is that still in the courses there. I really likee learning on a live chart. Still interested either way.
  • #1,009
  • Sep 5, 2006 5:48pm Sep 5, 2006 5:48pm
Hello, All

I've been reading this thread over several days and as I've read many times, I also am very impressed. Please forgive my lack of forum posting experience, this is my first, but I have a great desire to become a trading professional.

Jim, your character shows. There could be no shortage of times when you must have wanted to call the whole thing off. Please accept my sincere thanks for sticking this through and absorbing the disrespectful comments. I have joined the PF and look forward to a long and fruitful journey. I love the colorful contributors here, the world could learn a lesson in tolerance from this group.

Amazingly enough (timing is everything) I was also at two Three Dog Night concerts (with Foghat once as I remember it) at the TCCC. I think I grew up pretty close to you on the southside of Ft. Worth. I think it was God's Grace that got me through those years.

Again, many thanks for the terrific info, looking forward to the experience.

-Dan

"But when he asks, he must believe and not doubt, because he who doubts is like a wave of the sea, blown and tossed by the wind."
  • #1,010
  • Sep 5, 2006 6:01pm Sep 5, 2006 6:01pm
thanks gids, very cool man. yeah i saw foghat way back when, but i have to admit the opening act was better. bachman turner overdrive. bto baby.
Quoting Gids
Hello, All

I've been reading this thread over several days and as I've read many times, I also am very impressed. Please forgive my lack of forum posting experience, this is my first, but I have a great desire to become a trading professional.

Jim, your character shows. There could be no shortage of times when you must have wanted to call the whole thing off. Please accept my sincere thanks for sticking this through and absorbing the disrespectful comments. I have joined the PF and look forward to a long and fruitful journey. I love the colorful contributors here, the world could learn a lesson in tolerance from this group.

Amazingly enough (timing is everything) I was also at two Three Dog Night concerts (with Foghat once as I remember it) at the TCCC. I think I grew up pretty close to you on the southside of Ft. Worth. I think it was God's Grace that got me through those years.

Again, many thanks for the terrific info, looking forward to the experience.

-Dan

"But when he asks, he must believe and not doubt, because he who doubts is like a wave of the sea, blown and tossed by the wind."
  • #1,011
  • Sep 5, 2006 6:05pm Sep 5, 2006 6:05pm
Quoting james16
thanks gids, very cool man. yeah i saw foghat way back when, but i have to admit the opening act was better. bachman turner overdrive. bto baby.
I remember Edgar Winter in there somewhere also.
  • #1,012
  • Sep 5, 2006 6:14pm Sep 5, 2006 6:14pm
Thanks for the 365 ema tip- I just posted it on a Eur/Usd 1 hour chart and Bingo near perfect support line. Xtra Cool


its the 365 ema. for those of you who have never plotted a 365 ema on your charts do so now. its use as support and resistance will amaze you. just visually its impressive.[/quote]
Trade what you see - Not what you think
  • #1,013
  • Sep 8, 2006 5:52pm Sep 8, 2006 5:52pm
Brand new, please excuse the question, but when looking to start in a price channel after a breakthrough opposite the previous trend (sell at resistance, buy at support) how far back to you go to establish the trend ? For example eur/usd came down all day, but is overall (past month) trending up.

Again, brand new and learning by asking.
  • #1,014
  • Sep 8, 2006 6:30pm Sep 8, 2006 6:30pm
Hi Jim,

I just finished reading every post on this thread, took me about 3 days, but i enjoyed every minute of it. I subscribed to the PF a few days back and wanted to read this first as per Jims recommendations. Im not sure what i can say that has not already been said about you Jim but i guess i'll give it a shot, as i feel required to share the overwhelming sense of hope and excitment that ive gotten since finding out about your thread. I may be younger than most people on here at 23, but i know without a doubt that i want to be a fulltime trader. College never interested me and ive just had crappy labor-intesive jobs since high school. Ive been studying futures trading for about the last 3 years on and off and i just got into Forex a few months back. All together ive lost about $2800 on two trading accounts due to lack of knowledge and wanting to get rich quick so to speak, doesnt sound like much but $2800 is alot of money when you only make 12 bucks an hour breaking your back. I feel like ive finally found a genuinly honest guy who i can learn from and who isnt trying to scam everyone and their brother. Anyways, i could go on and on but everyone has their own horror story of trading, most worse than mine , so im done complaining. Plus ive got a mass amount of priceless info to dive into in the PF right now. I will be posting and asking questions once i feel like ive absorbed alot of the material in the PF. I cant wait to start posting results of live trades on here, because i know it will happen eventually, i have so much determination and desire its not even funny, and now that i have this amazing wealth of knowledge and experience from Jim and others to learn from, i feel its only a matter of time before my dreams of escaping job-land come true. Thank you so much Jim for starting all of this, being so willing to help others and charging such a minimal fee for all the wisdom you are providing all of us. Anyone who has read this entire public thread and does not join the PF is missing out on the opportunity of a lifetime. Success happens when preperation and opportunity meet, so now im gonna go dive into the PF and start working on the preperation part, the opportunities are endless in the trading world. Thank you is an understatement - Larry
  • #1,015
  • Edited 7:43pm Sep 8, 2006 7:32pm | Edited 7:43pm
thanks man, to be 23 again and know what i know now will always just be a dream for me but thats ok. the main thing for you is to understand the truth. the truth is you have time, more than you know. your first priority should be accepting this can take years to master. like i always say, so what. the bottom line is most people explode and blow out and then quit after a year or so. anyone who does not visually backtest and demo or trade micro lots at the least when starting out are kidding themselves. i like to ask these questions.

1. are you willing to spend 3 to 6 months demoing whatever/however you plan to trade to prove it works?

2. are you willing to never risk more than 2 or 3 percent of your account on any one trade?

3. are you willing to accept that it can take years of practice and learning to find consistent success?

4. are you willing to stop trading on the spot if your account suffers a 30 percent drawdown and go back to demo? most people lose 50 percent and then in an attempt to get back even end up with nothing. worse yet they dont learen from it and do it again and again.

95% of the people starting out in this business treat it like a game. this business chews up and spits out anyone thats not completly commited to ongoing learning and account preservation. i sound a lot like rob booker but the truth is rob booker sounds a lot like me. i was saying the same thing long before he ever opened his first account. i like rob a lot because he tells the truth instead of giving you some pie in the sky hype to get subscribers. most of you will probably have to learn the same way we did.
the hard way.

this is not directed at you personally lar, im just using your post as a seg.

Quoting lartrade0623
Hi Jim,

I just finished reading every post on this thread, took me about 3 days, but i enjoyed every minute of it. I subscribed to the PF a few days back and wanted to read this first as per Jims recommendations. Im not sure what i can say that has not already been said about you Jim but i guess i'll give it a shot, as i feel required to share the overwhelming sense of hope and excitment that ive gotten since finding out about your thread. I may be younger than most people on here at 23, but i know without a doubt that i want to be a fulltime trader. College never interested me and ive just had crappy labor-intesive jobs since high school. Ive been studying futures trading for about the last 3 years on and off and i just got into Forex a few months back. All together ive lost about $2800 on two trading accounts due to lack of knowledge and wanting to get rich quick so to speak, doesnt sound like much but $2800 is alot of money when you only make 12 bucks an hour breaking your back. I feel like ive finally found a genuinly honest guy who i can learn from and who isnt trying to scam everyone and their brother. Anyways, i could go on and on but everyone has their own horror story of trading, most worse than mine , so im done complaining. Plus ive got a mass amount of priceless info to dive into in the PF right now. I will be posting and asking questions once i feel like ive absorbed alot of the material in the PF. I cant wait to start posting results of live trades on here, because i know it will happen eventually, i have so much determination and desire its not even funny, and now that i have this amazing wealth of knowledge and experience from Jim and others to learn from, i feel its only a matter of time before my dreams of escaping job-land come true. Thank you so much Jim for starting all of this, being so willing to help others and charging such a minimal fee for all the wisdom you are providing all of us. Anyone who has read this entire public thread and does not join the PF is missing out on the opportunity of a lifetime. Success happens when preperation and opportunity meet, so now im gonna go dive into the PF and start working on the preperation part, the opportunities are endless in the trading world. Thank you is an understatement - Larry
  • #1,016
  • Sep 8, 2006 7:44pm Sep 8, 2006 7:44pm
Jim and Larry,

I loved reading both of your posts.

Larry, I know you a little bit and I know you will do what it takes to be one of the successful traders. You are driven and you are humble. I think that humility becomes one of the key factors in success at almost anything.

Jim, I cannot thank you enough for all your amazing material and your words of wisdom. You say things over and over that we need to hear over and over. And your command of price action and ability to teach it to us gives us a tool that is at the core of succeeding in the this seductive forex market.

Gail
  • #1,017
  • Sep 8, 2006 7:49pm Sep 8, 2006 7:49pm
Jim,
Thanks for your reply, i am willing to do whatever it takes for however long it takes to be a successful trader. I do realize that i have alot of time ahead of me and im taking advantage of that, now that i feel ive found a great resource (you) to help me figure out this trading world, its only a matter of time.. however long that maybe. This is my college education. Thanks a million - larry
  • #1,018
  • Edited 6:18am Sep 13, 2006 6:15am | Edited 6:18am
Just want to say thanks for putting this info together. I read it all 2 months ago and now have come back to it and I'm reading it again with a new appreciation and some lights going on as to why this all is and what it's all for.

I finally understand post 30 - which is pretty funny seeing as a total newbie it was doing my head in back then, you know the one with the fib retracement to 61.8 and the double high lower close.

Thank you.
  • #1,019
  • Sep 13, 2006 6:32am Sep 13, 2006 6:32am
another condensation question - could it be possible to prune this thread into a separate "lite" verision for newcomers"?

once threads become "megathreads" then it can be difficult for newbies to see the relevant infor as they become buried under the weight of posts...

just a general point, not asking anybody to volunteer or anything. what is really required is a set of FAQs, or release notes if you're developing a system etc...for the megathreads.
  • #1,020
  • Sep 13, 2006 7:00am Sep 13, 2006 7:00am
Quoting diallist
Well said Jim. I'm ignorant of Karma, but if it's anything like "Give and it shall be given unto you.", then I'm 100% with you. I think it is unavoidable to bless others without being blessed in return. And you certainly are blessing us all here with what you are teaching us. Also agree that it is my responsibility to take what you've shared and learn to use it. If you teach me how to use a hammer and I hit my thumb it would be stupid to fault the teacher. It is a shame that some folks have a chronic case of the stupids and wont or can't take responsibility for their own actions. And lastly, I agree: BULLSHIT!

Thank you Jim
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