The original system of 1/16ths dates back to the founding of the NYSE in 1792, which was based on the Spanish stock market. In those days, the US dollar was pegged to the Spanish gold doubloon, so I guess it made sense to them. But they also wore ...

james16 Chart Thread

The whistling is the creepy part.

james16 Chart Thread

I'm just hassling ya Despite what people say, I dont see anything wrong with taking a view.

james16 Chart Thread

I remember when I used to think like that

james16 Chart Thread

You are trading into alot of traffic, and there is an argument that you possibly missed an earlier PPZ there and that the pin wasnt that strong, but I think the basics are pretty solid here. You picked out a bar, a location, a TP, waited for a ...

james16 Chart Thread

The best play here, for me, is a short under the nose of that 'pin' to catch all the people trapped in a bad countertrend trade and desperate to fill their stops. I use L2 in other markets (mostly treasury futures). L2 in forex probably wouldnt help ...

james16 Chart Thread

Given they are very different concepts, mean very different things, have very different levels of reliability and breaks/failed breaks have very different implications, people need to stop conflating trend channel line with trend line - before ...

james16 Chart Thread

For every time it signals a retrace, it gives you three signals of a pause in momentum. I think Dan has a point. Most people would be better off without it, since they dont even know what it is, what it means or how to use it. Look at the number of ...

james16 Chart Thread

Squats and deads with bad form (aka being a teenager) are pretty much how my back got so bad in the first place Absolutely man, most of the damage you do there is permanent - risk management seems to be the key to life

james16 Chart Thread

That might be RRP - I imported mine from the US for around $1600 from memory. After depreciating it for tax, it comes out to under a thousand bucks. Which might sound like a lot, but look at it from a $/hr perspective over 5 years... Best money I ...

james16 Chart Thread

$40 for a chair is pocket change for something you spend thousands of hours sitting on. You can pry my Embody from my cold, dead hands. Or should that be ass? Citi looks cleaner to me.

james16 Chart Thread

Lucky you didnt enter, since it didnt break the high *edit* also, given what we know about pin bars, how they are played and where stops are placed...

james16 Chart Thread

It really depends on your trade horizon. If you are trading a tick chart, you can definitely take long or short positions, regardless of what the weekly says. Multiframe confluence is nice if you want to swing a position, but it isnt by any means ...

james16 Chart Thread

Ignore sunday bars. They are super low volume, short session and most people dont even show them on charts, since the only people trading them are a couple of hobos under a bridge.

james16 Chart Thread

Is that a short on the break of the BEOB?

james16 Chart Thread

An 'exhaustion' bar is typically a huge range bar (it needs to be a significantly larger range than recent bars) with a weak close in the reverse direction, usually following a gap in the trend direction. Essentially, its a big pinbar after a gap... ...

james16 Chart Thread

Would you mind expanding? Curious, since we clearly see different things!

james16 Chart Thread

I see 11 out of the last 12 bars being bearish, and all those except two have been big range bearish bars. Including the last bar. You want to blind trade it long after dropping 1600 points in a fortnight? Into weak economic news? The phrase ...

james16 Chart Thread

I think this is a really important point that alot of people miss. By construction, a %R system automatically increases the position size of a winning trader and decreases the position size of a losing trader. And by choosing an appropriate R (ie, ...

james16 Chart Thread

Wonder what Jim's opinion would be on people pirating his videos and materials from the pf and then torrenting them to everyone for free.

james16 Chart Thread