AtClarkson Trading J16
Page 1 of 735 123 ... LastLast
Results 1 to 10 of 341

Thread: AtClarkson Trading J16

  1. #1
    ictla
    Guest
    I am hoping that this to be my diary recording my progress in learning James16's method of Price Action (Pin Bars, BUOB, BEOB, etcetc) so I might have somewhere to review my past trades, and members knowledgeable about this J16 method can help me out from time to time!

    My desktop. I began learning about trading in my final year of college (September 08) out of a teacher who has helped a whole lot in shaping my life and career goals. (I am 23, btw) He had been a big mutual fund trader back in the 80s/90s. I have hooked on stock trading. I read everything I could get my hands on in another 6 months, and opened my first live account in March 09. I don't know how many Canadians are still here, but it is called a TFSA - Tax Free Savings Account. I made some money. It ended up being a mix of my study , chat space calls, and other crap I came up with. Not a sustainable way to trade, but I heard some money management, the way to make use of stop losses and trailing stops, and penny stocks that are crazy are! (both good and bad!)

    I moved to work at a prop trading company in July for a month, before realizing I had to learn a LOT more if I had been to get good at this game. I left there to do precisely that.

    Anywho. I stumbled uponforexsoutheast.asiaand J16 while Looking for reviews on Van Tharp's trading courses. Https://www.forexsoutheast.asia/gene...imulation.html I began to read about J16, and so lots of people seemed to hold him in such high esteem, so I thought I would give it a read over. Needless to say I liked what I saw. I have tried all sorts of indior and desired that crap off my charts. I knew there was a way to trade price. James16 method provides to me.

    I have read the initial 2080 articles in that thread, and currently keep up as best I could with the newest articles. I have read the Pin Bar intro (twice) and innovative that lwoo034 put together. I am curently working my way through the videos in from the J16 PF guest section. After I do this, and re read a few of this chart thread, I plan on linking the PF.

    I have a demo account with OANDA and I utilize FXPRO's charts (daily pub ends at 5pm EST) I have made 4 trades so far, which I shall outline below.

    I have MUCH to learn. I understand this is a long and chilling journey I confront. But I will learn this. I'll learn how to profitably trade the markets. My purpose is to trade for a living. I'll take action if it takes two to accomplish.

    One of my favorite quotes on the j16 chart thread goes something like this: If there were a college program on the market that guaranteed you a thousand dollar a year income at the end, how long would you be willing to go to college there for?

    Provided that it takes.

    I have read James16's guidelines and rules to start this properly. I will deal with this as a business. I am currently in the Demo phase. I could demo for 3 profitable months prior to investing in a portion of my money. At the moment I am learning how the software operates, and also the differences that Foreign Exchange presents.


    . . .Well, that came out longer than I expected. However, you know a bit about me.


    Thanks in advance for any assistance or advice you supply, or even simply for stopping by and checking out my thread.

    Cheers!
    Andrew

  2. #2
    ictla
    Guest
    Here is my new account.

    Http://www.myfxbook.com/members//-2-mb-trading/24646

    I am investing in a 10k account with MB Trading. (would not let me do 5k)

    There is 1 trade left on the old account (PrimeBank) which I will let play out, then that account is dead.

  3. #3
    ictla
    Guest
    Cherry- Wonderful!!


    Some ideas on recent pubs -

    UCad- Lovely formation, and with the tendency, but hanging out in the middle of nowhereand that strong bullish pub off me. I'd turn it, although it did great as we all know today. Not worth the risk IMO. Great anybody who got in and left some money tho, so long as it suits your egy

    EChf- I did not mention this before, but nice pin, in a rounded, butit had nowhere to run! Those lows at 1.43 - 1.432 were (are) a SOLID support. After 7 trading times it broke , but has pulled right back up again. Another trade not worth risking your money on. (Altho if you were somewhat less conservative, you would have done well to play it to just before those lows, because you know your odds are good it will make it at least, and that it did).

    It's my Bday now off to fam dinner and also the Kenny Chesney Movie, then friday night drinkin!

  4. #4
    ictla
    Guest
    And similar situation with the GBPJPY!

    Nice pin, at PPZ, long nose, within eyes, sticks out a long ways from everything around it. That week will be watching this one.

    http://i189.photobucket.com/albums/z...pt28gbpjpy.gif

  5. #5
    almudeiss
    Guest
    Quote Originally Posted by ;
    I exchange the FXPro Chats now, the daily ends at 5pm which is fine.

    [snip]

    I also should learn about position sizing, more risk management and lot sizes. The 100,000 dollar demo account appears silly, I wish it were adjustable.
    WellI really don't understand how to adjust it after the fact, but I exchange with FxPro, also you may have as many demos as you like afaik.

    In your MT4, right-click Accounts from the Navigator window, the Create New Account.

    Enter you information, in the base of the account window, select your leverage and you account size.

    I also made myself a second demo account so I could place the capital and leverage to simulate my live account.

    A $3000 reduction is not very noticeable on a $100K presentation but it sticks out like a sore thumb on a $5K!

  6. #6
    ictla
    Guest
    Update 2.

    Trade came back and stopped me at breakeven (went about 10 cents past my stop), then went directly in which it was supposed to, 1.5804. Funny stuff. Seems like it could be establishing a pinbar for tonight, But I have a wedding to go to... I need an iPhone or something with charts lol


    http://i189.photobucket.com/albums/z...oct2gbpusd.gif

    Reseting OANDA account to 5k. (up $24.80 on my 100k account at time of change) This will provide me a more realistic experience I presume, for position sizing and win/loss sizes once I start a real money account.

    ------
    When I risk 1% of my account at a trade ($50) and have a 100 pip stop loss, I can trade 50cents per pip. (5 micro lots) Correct?
    ------
    50 pip stop loss, $1 per pip, etc (1 miniature lot)

    .5% of account, 50 pip stop loss, 50cents per pip (5 micro lots)
    ------

    I hope I have this correct.

  7. #7
    laca666
    Guest
    Hey im not certain how to trade pubs. .

    Because of time zone im at work when my broker opens on monday morning. If I was planning to trade a friday snare I couldnt take action until london open on monday.

    How do you play them? Still at break of snare?

  8. #8
    ictla
    Guest
    Update on friday evenings trades:

    AUDJPY- On the transfer, triggered and I've already pulled half off the position for 17 pips and moved to breakeven (78.13) that is where I entered, not the cover of the snare. (currently 33 pips in profit) will need to ask over at J16 chart thread exactly what their ideas are with this. Putting a TP in 79.00 (if I am not in the computer) and will move the stop up if I find it becoming close. I believe that is the next trouble area. (PPZ)

    GBPUSD- Moving Slower, but in my direction, and also have taken off half the desk and proceeded stop to breakeven. (19 pip profit) and currently 21 pips profit. Should have trouble in 1.6024, the large of the prev pub, if it breaks that, I'll transfer my stop under it and see what happens. Take profit full position currently set at just below top of last pin (current high) 1.6125 (setting at large round amount 1.6100) In case I am away in the comp.


    The Yen confuses me. Going it deals in 2 decimals instead of 4, to see!



    No Fear! No Greed! Emotions are the downfall of any trader who can't control them!

    Dont bring a knife to a gunfight. Bring a nuke. -joelcf

  9. #9
    ictla
    Guest
    Follow up on preceding mentioned trade:

    Took half of position off in 27 pip profit. (Would have been more but that I ended up opening a EURUSD Trade rather... that is precisely why we demo directly!)

    Moved stop to breakeven.

    No new transactions now

  10. #10
    ictla
    Guest
    (I have posted the following in the j16 chart thread but and placing it here for my own benefit)

    First Trade

    http://i189.photobucket.com/albums/z...PUSDSept15.jpg

    GBPUSD (OANDA chart)
    Bought ten pips over top, set cease 10 pips under non. Got stopped out.
    Trading with the long-term trend, (potential pullback)
    At a current ppz. Went in my favour stopped me out and then reversed.


    Secondly Pin Bar spotted, did not take commerce

    USDCAD

    http://i189.photobucket.com/albums/z...DCADSept15.jpg

    Obv it worked well
    I did not take it because I felt there was too much traffic, but in retrospect, I see that it sticks out more than G/U above.
    Additionally with long term trend.

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •  
This website uses cookies
We use cookies to store session information to facilitate remembering your login information, to allow you to save website preferences, to personalise content and ads, to provide social media features and to analyse our traffic. We also share information about your use of our site with our social media, advertising and analytics partners.