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james16 Chart Thread
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Feb 5, 2010 12:17am
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Vivere!
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LOL
I was a little bored tonight so I logs into the forum to poke around and Jarroo posts a chart of the USDCHF - a pair I got in long yesterday morning.
Speculation is that the SNB intervened. I have no better explanation -
Wondering why at this hour they'd do something like that. Do the gnomes over there work the graveyard shift?
Joel - any thoughts? Just curious. I hope they do it again real_soon_now...
__________________
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Feb 5, 2010 12:42am
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Vivere!
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Quote:
Originally Posted by joelcf
It's all idle speculation, but personally, my thoughts (in order) would be
>snip<
Personally, I'd ask Rac. He is probably somewhere in Zurich, hiding under a ghillie suit with a parabolic mic and a laptop 
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Wow - exactly my thoughts....
Uh, in case no one can tell, that was BS
Thanks Joel. Rac is a sneaky little shit. 
__________________
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Feb 5, 2010 12:55pm
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Vivere!
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Quote:
Originally Posted by TiaForex
We trade here with relative certainty. Good PA, PPZs, A+++ setups, there really is relatively little doubt how it's going to pan out. Where we get killed (myself very much included) is in taking mediocre setups on hope. Or playing the tables with the EURCHF because, well, maybe, just maybe....
The last play I see on that chart was around 1.5. Bounces off that level and breakouts through it were good plays IMO. And that's because it was solid support. Anything after that was dancing with gorillas.
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Nice rant Tia -
I don't know Jack about no intervention, in fact, I pay no attention to news or other manner of 'talk'. Fundamentals are a misnomer for me. That stuff is so complex that applying the term "Fundamental" is just plain silly. People get economics degrees over the course of many years and then work as a grunt for many more to begin to understand that stuff. I ain't got the time!
But I do know PA works. Period.
Here is my one trade this week - I selected this one trade vs three other ones available at the time because it presented itself as the easiest to manage, and right now, I keep it to one, maybe two trades at a time. I had no idea last evening's fireworks were coming, and I did not have to, PA said to get in.
That's right. I took only one trade.
Snapshot:
Pinbar at a BNR, PPZ and ICCE fib. What else could you ever want - Just enough room to get to BE. Price hit the grey box, and I went to BE. The rest was managing my stops (something you just have to figure out for yourself because that works best) Out for 4.9R. Two days duration. Absolutely no stress.
All I had to do was wait for this setup, and they come nearly every single week.
.
__________________
It is not what you know, it is how you think that makes all the difference
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Feb 5, 2010 12:56pm
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Vivere!
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Quote:
Originally Posted by james16
i see you down there sp.
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BOO!
__________________
It is not what you know, it is how you think that makes all the difference
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Feb 5, 2010 1:27pm
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Vivere!
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Quote:
Originally Posted by james16
im on my usual pre-weekend piss off a bunch of people/divert the thread away from trading routine in case you havnt noticed.

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Yeah - it is cathartic.
BTW - I don't know if you do Facebook, but there is a dude out there know as "ShitMyDadSays" Funniest thing I've seen in a long time.
__________________
It is not what you know, it is how you think that makes all the difference
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Feb 5, 2010 1:48pm
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Vivere!
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Quote:
Originally Posted by james16
i do it for you.
no facebook.
to much of a past with ex girl friends.
some of them have been trying to find me for 30 years.
i really need to go to bed but im having a giddy kind of tired fun.
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Some of the ones I can drop here
"No, I'm not a pessimist. At some point the world shits on everybody. Pretending it ain't shit makes you an idiot, not an optimist."
"Can we talk later? The news is on... Well, if you have tuberculosis it's not gonna get any worse in the next 30 minutes, jesus."
"Universe is 14 billion years old. Seems silly to celebrate one year. Be like having a f*cking parade every time i take a piss."
"I like See's candy. Put me in a See's store, I'm eating candy. The whole world is Tiger's See's store, and the candy is vagina."
"Son, no one gives a shit about all the things your cell phone does. You didn't invent it, you just bought it. Anybody can do that."
LOL!
__________________
It is not what you know, it is how you think that makes all the difference
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Feb 5, 2010 1:49pm
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Vivere!
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Quote:
Originally Posted by mbqb11
hahah yeah that was if hilarious and so is the guy who has his twitter linked to his Toaster.
all you saw was
"toast ready" or somthing lol
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OMG - I missed that post! He is on Facebook too. Greatness.
__________________
It is not what you know, it is how you think that makes all the difference
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Feb 5, 2010 1:50pm
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Vivere!
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Quote:
Originally Posted by james16
you should see the emails.
im not responding to any of them though.
i have a right to be a nut if i want.
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Hey - let's have a little fun -
Post up some of the choice replies. Now, that would make you famous.
__________________
It is not what you know, it is how you think that makes all the difference
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Feb 5, 2010 1:55pm
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Vivere!
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Quote:
Originally Posted by TGpop
what you guys thinks, my best trade in a while
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I am assuming the psuedo PB on the red line?
__________________
It is not what you know, it is how you think that makes all the difference
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Feb 5, 2010 4:49pm
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Vivere!
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Quote:
Originally Posted by jarroo
This guy is freaking hilarious. I can't stop reading them. lol
"It's never the right time to have kids, but it's always the right time for screwing. God's not a dumbshit. He knows how it works."
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Brilliant.
__________________
It is not what you know, it is how you think that makes all the difference
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Feb 9, 2010 9:06am
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Vivere!
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Quote:
Originally Posted by jarroo
P
The cool thing about A+ trades is they tend to run and/or move strongly (or continiously) in your direction after the break. So when they don't move in that way. . . .something else is happening. . . so I better protect myself.
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If I learned nothing else from this man, this was it. It made a difference.
__________________
It is not what you know, it is how you think that makes all the difference
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Feb 9, 2010 10:03am
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Vivere!
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Quote:
Originally Posted by StoragePro
If I learned nothing else from this man, this was it. It made a difference.
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For example....
Last week a PB on the 4Hr.
PB at this confluence: - BRN
- PPX
- ICCE Fib
Entered the trade, it popped, and I went to BE within an hour. Great setups tend to move hard.
4.9R. My only trade this month. If you learn to wait for the great setups, how many will you need?
__________________
It is not what you know, it is how you think that makes all the difference
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Feb 9, 2010 1:13pm
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Vivere!
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Quote:
Originally Posted by dobe_r_man
My guess is 1 or 2.....ha ha. Great trade! Just curious of your exit strategy on this one SP.
Nathan
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Exited at the 100% ICCE fib. Price sometimes goes beyond, and sometime less, but when you get to it, it is often a good time to get out, and look for another opportunity.
Happens often.
Trail your stop while in the trade according to what works for you and makes sense.
__________________
It is not what you know, it is how you think that makes all the difference
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Feb 9, 2010 3:20pm
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Vivere!
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Quote:
Originally Posted by benji533
Charts
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Benji - "Pipmeister"
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It is not what you know, it is how you think that makes all the difference
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Feb 11, 2010 5:03pm
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Vivere!
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Quote:
Originally Posted by lovejoy80
Anyone catch the breakout on CAD/CHF...it slipped below the radar today for me, but there was a nice IB on the !HR which would have made for a good entry with stop below the PPZ area...nice on the %R too.
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Sounds like a nice way to insert high risk to me.
How might this have been played, and what PA was in place to indicate that a low risk entry to the top side was in play? All I see is a fairly firm resistance zone.
Or I am missing something. (Entirely possible)
__________________
It is not what you know, it is how you think that makes all the difference
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Feb 11, 2010 7:34pm
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Vivere!
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Quote:
Originally Posted by Bemac
It might just depend on how serious you take Your Business...
I know some very respected members posted that they couldn't quote a Price from mind but ask them;
If you are risking your hard earned Pips without knowing "Where It's at" {that includes Demo because they can be, when starting out, be the hardest to earn}... Well... I wish you luck.
I've been called Too Detail Orientaded Before & I'm sure I will be again but I just can't convince myself that 'It dosen't matter what the Price is, only PA counts.'
I would really like to hear...
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Bemac always makes me think....
I am one of the crowd who normally cannot tell you where price is in numerical terms, but I always KNOW where it is in relation to its past. Maybe that makes you too detail oriented, but when I visit a doctor, I like a man oriented towards the details...
Speaking of Jim - he is snowed in... looks a lot like Toronto in his neck of the woods today....
__________________
It is not what you know, it is how you think that makes all the difference
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Feb 11, 2010 8:06pm
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Vivere!
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Quote:
Originally Posted by SeekingLight
Sure Cory.
Keeping in mind this is just me and my opinion:
I personally find it problematic if the "speed" at which a trade "fails or succeeds" plays a role.
But since I've just used the terms fail and succeed:
Actually, if you've done everything that you can to ensure that the reason you entered a trade was a good one, i.e. one that fit your rules and criteria, then there no longer is a possibility for a failed trade.
There just is a possible win or loss. And neither of those, ideally, lead to disappointment or satisfaction(an...
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Interesting take Patrick.
I am one of those who gets to BE fairly quickly - normally in the area of the first resistance. But not for the reasons reasoned out above. What I have developed for myself allows me to win a low percentage of trades for a nice return. The majority of the rest are BE. finishers.
I'd like to see you expand on your speed comments. Since speed seems to indicate order flow, and these areas of high order flow are fairly predictable, (round numbers, PPZ's...) a good move will very often begin with some velocity - as a form of verification of order flow.
(Speed is a nice thing - if it comes along - but your comments on counting on it make sense to me.)
__________________
It is not what you know, it is how you think that makes all the difference
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Feb 13, 2010 1:21pm
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Vivere!
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Quote:
Originally Posted by benji533
CHARTS
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Heh. Simple, right? But not "easy"... for the vast majority.
The tough part for many is to not try to 'curve fit' a setup, because of the need to make money, and then implement a solid set of repeatable rules (meaning - rules you use and follow).
And there is much much more...
Time and experience is the commodity all have to bring to the table.
The stuff just works - if we let it.
__________________
It is not what you know, it is how you think that makes all the difference
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Feb 13, 2010 6:26pm
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Vivere!
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Quote:
Originally Posted by benji533
This is why psychology is so important, and dangerous for trades. When you say "experience", I guess it's related to the psychological/emotional issues one should get over in order to become profitable.
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Plus there is just the part where we have to develop our 'eye'. It does take some time. Younger people often have a head start because they have not developed the bad habits their parents have worked hard to acquire... Youth is a fine thing to be able to take advantage of.
Quote:
The method is working. The only thing that can rune it is you. There are three psychological barriers which can destroy you:
1) You do not trust the method to do what it has proved itself to do. Solution: spend enough hours on back-testing and demo trading it exactly as it supposed to be, until you have enough confidence.
2) Your risk management is not tolerable for you. If your position size/account size doesn't fit your risk tolerable, you are very likely to ruin your trades by having an emotional reaction for seeing the amount of money you...
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Good start! There is so_much_more. A few years in the Army will reveal quite a lot to you. You won't even recognize yourself.
Quote:
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Well, lets assume he trades a 500,000$ account. 1) he knows that even 0.5% gain per month will make him enough money for the entire month. 2) He risks 3% of his account, which is tons of money, only because he know what are the odds he has for winning that single trade. Not the dumbest person on earth will risk 15K and just sit and hope to get his money back. James knows his method works, therefore he is highly confident in it.
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Aim higher. Half a point on 500K won't pay the bills in our neck of the woods. Not even close. Pretty good money for dinner out a few times and a few shows with enough left over for groceries. 3% is better, but to be honest, that ain't big bucks either. There are folks here in this forum that do that on a regular job. And they are not looking for parity from trading.
But your point is well taken, carefully grow your account and you can get to the place where a few well placed trades a month will make you more money that you can dare dream of today.
But dreams won't get anyone there, we know that. Carefully, day ofter day protection of capital over lots of time - might.
Quote:
Now hey, I'm only 17, so I am able to understand this, and will be able to apply this as well, everyone here should
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You are in such a good place. I know you'll take full advantage.
__________________
It is not what you know, it is how you think that makes all the difference
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Feb 13, 2010 6:37pm
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Vivere!
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Quote:
Originally Posted by jspeakman
Hi Benji (and anyone else who wants to chip in)
Been studying and occasionally chipping in this thread. Trying to read the whole thread but hard keeping up with the present rate of posts!...
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Hi Jeremy - you make a lot of sense.
I suggest sticking to the fundamentals and mastering them as Jim and MBQB11 teaches them and _forget_ everything else - for the time being.
When you master - proven by 3 to 6 consecutive months of profitable trading - than look to add in a little something.
What you will find is that you will develop your own relationship with the market - meaning you will find out what you are really good at and can exploit. You can work on other things, but you will have to develop a way to trade that works for you.
I do not do exactly like anyone else on this forum, and what I do works well for me.
Take your time - find PPZ's. Find confluence (with divergence, fibs, BRN's). Find good and proper bars at those places. Pay close attention to what price does, and use your own eyes and thoughts. Price has a memory - use that knowledge. Trying out everyone's stuff here will likely elongate the chore.
Eventually the core message taught here *will* suddenly dawn on you, and you'll have it.
Oh - and one ore thing - post up charts and ask questions that will force folks to help you to focus in on The Core. (MBQB11 is really good at this - hint hint)
Cheers!
- mike
__________________
It is not what you know, it is how you think that makes all the difference
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Feb 14, 2010 9:20am
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Vivere!
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Quote:
Originally Posted by jspeakman
Thanks Mike - great stuff as always from you and everyone on this thread. I really appreciate people's generosity and have really learnt a great deal. At the moment I doing ok identifying good moves after they have happened - now if I could just..... 
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Ask yourself this question - and take notes in a table so you can see a pattern emerging:
What were the conditions at the time the bar formed? At a PPZ? At an fib area (50 - 61%), At a round number, was the bar bigger, smaller of the same as the preceding community of bars? Is it part of a double/triple top? Was there divergence on the RSI? MACD? Is it trading into traffic, or is there space?
Then - examine what price did post bar. Did it run? Was there a pull back then a run? Where did the pullback occur?
I'm sure you could think of more things - but this simple exercise over just a few hours will yield significant knowledge. Forget for now how much money each bar could yield, learn Price Action. Money follows.
Cheers Again!
(BTW - saw Celtic Woman at the Durham Performing Arts Center last night. If you ever get the chance to see them - do so. Stunningly talented.)
__________________
It is not what you know, it is how you think that makes all the difference
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Feb 14, 2010 9:25am
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Vivere!
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Quote:
Originally Posted by Prof Hunter
Sorry, I can t find it. Am I missed it, or not posted, yet?
THX, PH
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Still coming ... hang tight.
__________________
It is not what you know, it is how you think that makes all the difference
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Feb 15, 2010 11:03pm
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Vivere!
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Quote:
Originally Posted by raczekfx
true
IMO, if you're have a mathematical mind,.. are a programmer, dentist, physicist, have PHD in engineering, your chances of succeeding in this business are ultra slim. If you're an HR person, a psychologist, shrink.... you're miles ahead from others.
For the record: I am a super math minded person, so maybe this is why it took me so long. Or perhaps I had no talent at all.... 
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I'm screwed....
__________________
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Feb 16, 2010 2:06pm
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Vivere!
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Quote:
Originally Posted by fxlan
Yeah i know there isnt only one answer...but like mike says i want to maximize the pottential of this trade. I have no problem with retracements but should i be scared of each 15 min retrace. But of course i have no idea how much i am willing to give back. I am thinking of looking at it like a 1h trade with a SL around 1.5720 and trail this thing under each support and resistance.
thank you
Lan
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Whooo Boy. There is no one way - and you are of course looking to maximize revenue and limit the potential to get out too early. So you'll have to work out what management structure will work well for your psyche.
You can do:
- Bar Trails
- Trail and hide behind areas of old price interest
- Fib trails
- Round number trails
- Wet finger in the wind
- % of move trail
- Or some combo of the above
Part of this for many means to set targets - set the target, set the TP and keep banking profits as the trade runs.
It is all about you, and where you are on your personal curve. Try out several methods, and see what method you can develop for yourself based on your own observations. It is an interesting and fun exercise.
__________________
It is not what you know, it is how you think that makes all the difference
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Feb 19, 2010 4:32pm
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Vivere!
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Quote:
Originally Posted by chatzi
Hey Tia,
Everything you said was exactly correct. I need to be honest with myself, I wanted to master something that would give me excellent returns. I have learned loads from studying racs posts, but he has many years more experience, I think its back to basics for me. Its good to know that just using pa on daily you can build an account to that size.
Regards
Chatzi
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All this is about is the basics. Every 'fancy-pants' method that works has as its foundation The Basics.
For most people, getting to, and staying at BE for a long time is fantastic returns. Beats the pants off of losing - and that is endemic in this endeavor.
Master the basics, and the rest follows. Even trading a touch on occasion, if you are good, and have done the homework required to *know* what to look for. (Think - absolute mastery of the basics)
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It is not what you know, it is how you think that makes all the difference
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Feb 19, 2010 4:37pm
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Vivere!
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A safe way to touch trade
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