NEW WEBSITE PRE-LAUNCH VIDEOS LINK BELOW. BE SURE TO READ INFO LEADING TO IT.
THE DREAM IS OFFICIALLY BEING ANNOUNCED AND CLOSE TO MIKES BIRTHDAY. LOL.
OUR NEW SITE WHICH INCLUDES FOREX, STOCKS, OPTIONS, REAL ESTATE, MEMBER FOUNDATION FOR FINANCIAL TROUBLE DUE TO UNFORSEEN CIRCUMSTANCES, WORLWIDE CHARITY AND EVERY DREAM WE HAVE HAD FOR TEN YEARS WILL BECOME LIVE ON 1-3-16. YOU CAN NOW SEE OUR FIRST PREVIEW AND WATCH TWO VIDEOS THAT I THINK WILL BRING MANY SMILES TO MANY FACES. STAY TUNED BECAUSE ANOTHER PRE LAUNCH VIDEO WILL HAPPEN AROUND 12-25-15 AND WILL INCLUDE A FULL MEMBER AREA WALKTHRU.
TO ALL MY DEAR FRIENDS FROM AROUND THE WORLD MEMBER AND NON MEMBERS THANK YOU FOR MAKING ME A BETTER PERSON IN MY HEART. THE SEARCH FOR EVEN BETTER PLACES INSIDE MY HEART WILL CONTINUE WITH YOUR COMPANIONSHIP. THE NEW SITE WILL CONTINUE ON WITH THE HONOUR AND INTEGRITY SHOWN TO0 ALL FOR NOW OVER TEN YEARS. THE VIDEO WILL BETTER EXPLAIN BUT ALLOW ME TO MAKE A COUPLE OF MAIN POINTS. TRADE CALLS WILL BE DONE BY DONATION ONLY. IN FACT A LARGE PORTION OF THE SITE WILL BE MEMBER DONATIONS RATHER THAN FEES FOR SERVICES. IF WE EARN IT THEN YOU CAN DONATE. IF WHAT WE HAVE TAUGHT YOU IS RESULTING IN YOU MAKING MONEY THEN DONATE IF YOU WISH.
5 TO 10 PERCENT OF ALL PROCEEDS WILL GO TO THE FAMILY FOUNDATION AND CHARITY WORK AND A FULL ACCONTING WILL BE READILY AVAILABLE. IN FACT MEMBERS WILL BE SUBMITTING MOST CHARITY SELECTIONS. THIS WAS ONE OF THE EARLY DREAMS OF THE GROUP TO BE ABLE TO HAVE THE TECHNOLOGY WITH OUR SITE AT A LEVEL THAT COULD ALLOW THESE IDEAS TO HAPPEN AND IN A WAY THAT WAS TRANSPARENT. A LOT OF THOUGHT WAS GIVEN TO THE YEARS OF TURNING DOWN AFFILIATES ETC. WE DO PLAN ON DOING A FEW THINGS TO ACTUALLY MAKE A LITTLE MONEY BUT NOT WITHOUT YOUR PERMISSION.
THATS RIGHT. EVERY IDEA OR PLAN THAT HAS THE ABILITY TO MAKE THE SITE MONWY WILL BE APPROVED BY LIFETIME MEMBERS BEFORE ANYTHING BEING IMPLEMENTED. THIS IS HOW WE KNOW WE CAN KEEP THE SHINE ON OUR STAR THAT HAS BEEN SO BRIGHT FOR OVER A DECADE SHINING BRIGHT.
FOLKS WE SPENT YEARS PUTTING THIS TOGETHER AT A FAIRLY HEFTY COST. THE SITE AND ITS "TOYS" ARE GOING TO IMPRESS YOU BUT REMEMBER SOMETHING. YOU WONT FULLY BE ABLE TO APPRECIATE THE GREATNESS WE HAVE PRODUCED WITH THIS SITE UNTIL YOU ACTUALLY USE IT FOR A PERIOD OF TIME. THE REGULAR RATE OF 129 PER MONTH AND FREE AFTER ONE YEAR WILL STILL BE AVAILABLE FOR ABOUT A MONTH. ALL YOU NEED TO DO IS USE THE EMAIL LINK ON THE PAGE. IT DOES NOT MEAN YOU ARE SIGNING UP IT SIMPLY LETS US KNOW WHO HAS THOSE INTENTIONS WHEN ITS AVAILABLE. IF WE HAVE ANY BUGS WHICH IS NOT UNCOMMON WITH A NEW SITE WE WILL HAVE YOUR INTENT IN OUR DATABASE.
ALL CURRENT AND PAST MEMBERS ARE PERFECTLY SAFE AND YOU WILL NEVER BE CHARGED A NEW FEE OTHER THAN THE OPPURTUNITY TO DONATE SHOULD YOU WISH. THANKS TO ALL OF YOU AROUND THE WORLD. MERLIN WHEREVER YOU ARE I WOULD LOVE TO SAY THANK YOU PERSONALLY. IF THAT NEVER GETS TO HAPPEN OK BUT THE TWO OF US KNOW WHY FF IS WHAT IT IS TODAY. AT LEAST IN OUR HEARTS WE KNOW. THE LINK IS AT BOTTOM OF THE PAGE TO OUR PRE LAUNCH VIDEOS. READ ALL OF THIS FIRST YOU WANT SOMETHING TO THINK ABOUT TONIGHT AND/OR THE REST OF YOUR LIFE.
I have something to leave with you. If it means nothing to you that's perfectly fine
not a thing wrong with that. I'm giving this in the event just one of you
might be blessed by it.
"When a man begins to search out his true nature and to find the truth of
his real being he begins the quest. Between the ordinary man who takes
himself as he is and the philosopher who does exactly the same there stands
In the first case the outlook is narrow, being limited by attending to the
inescapable necessities and demands of day-to-day living. in the other case
peace of mind may have been established, a thirst for knowledge perhaps
fulfilled and the discipline of self perhaps realized.
In between these two stands the searcher. He is not satisfied with himself
and has a strong wish to become a better and more enlightened man. He
spends his life striving for the answers to the seemingly unanswerable
questions of his existence.
What should be of comfort to those brave enough to travel this lonely road
is simply to know that just the search itself is complete victory over
Edited slightly with the utmost respect and admiration by James16
Part of the new site will be about these "things". Its not about
religion with me folks. I have one but that's not what "The Search" area of
the site will be about. Just so you know.
YOUR LINK BELOW
PLEASE TAKE THE TIME TO READ THIS ENTIRE FIRST POST SLOWLY AND WITH FOCUS. MANY OF YOU ARE DAUNTED ABOUT TRYING TO READ THIS ENTIRE THREAD. IF YOU WILL READ THIS FIRST POST AND THEN GET INVOLVED WITH THE CURRENT POSTING THE OLD TIMERS CAN GET YOU UP TO SPEED IN SEVERAL WEEKS. FOR THOSE THAT DECIDE TO READ THE WHOLE THING IT WILL CERTAINLY NOT HURT YOU. TAKE YOUR TIME AND ENJOY THE RIDE. IM HERE VIA EMAIL AT ANYTIME.
This is an update to the first post of this thread on 1/14/09. This thread was started long ago when Forex Factory was a much smaller place. It was unusual at that time to see more than 20 people online at any given time. My how times have changed.
This thread has changed my life in many many ways and it has changed many others as well if my email inbox is any indication. This thread is about helping people learn to trade with a simple method BUT MORE IMPORTANTLY its about providing a kind and non-threatening place for beginners. There is literally an army of old timers here that, along with me, make sure of it.
The single biggest reason this thread continues to produce winners is it constantly pounds home that this is a business and must be treated as such. Your going to get to read about that in a minute but first i want to thank someone.
Forex Factory is what it is due to the vision and care of one person, my friend Merlin. Merlin no longer carries the torch here but he is a hero to me and i am truly blessed to know and call him my friend.
ok are you ready to read the truth? are you ready to face what no beginner to this business wants to read or hear? of course its just my opinion but it comes from 26 years of blood,sweat, tears and experience. thats all i really teach here anyway...experience. Follow it and join the multitudes here that are succesful traders or dont and go thru hell like most do in this business early on including myself for 8 grueling years.
To succeed in this business you need a sound method (notice i did not say system), common sense, discipline and a rock solid understanding that if you do not treat this as a business you have a ZERO CHANCE of long term success. 95 percent of new businesses fail even when the owner knows what they are doing. Do you really think this business is going to work for you after 3 months practice or less?
Whats interesting about this business is it affords the person that chooses to use common sense a way to learn it without losing a ton of money or any for that matter. Below is the outline i used 20 years ago to finally find some success and i have become almost mental about it. To this day any new method im testing or any refinement to existing methods goes thru the same process. Also remember this. small accounts could never keep me focused to be ultra picky about my entries and you will almost surely find the same thing. small accounts = over trading and YOU SIMPLY MUST LEARN TO BE PICKY ABOUT YOUR ENTRIES. Solution? Force yourself to be ultra picky (virtually impossible) or follow the plan below while your saving.
Before the plan i want those of you that are new or struggling to read one sentence from someone that has come before you. Just a regular person just like you. This person followed the plan, got involved and stuck with it for half a year. Here are his words and they should tell you something. There are no free lunches in this business. Give it your best here for 6 months and see if you can do the same.
"Words can't describe where my trading was 6 months ago compared to where it is now"
If you are new to trading and/or you have had difficulty finding some consistent success, you must understand something. This is not a game and it's not a way to get rich quick. I suppose there is the odd exception of the person with a ton of money to play with, but if you approach this business without a business plan and the willingness to follow it, you are almost certainly doomed to failure. A doctor spends ten plus years in a grueling learning curve to be successful and earn a six figure income; anyone who thinks that their pot of gold in this business is a couple of months down the road is in for a rude awakening.
Below is a minimum requirement (in my opinion) to find out without losing your @#!@#$%$# if this business is for you. By following these recommendations, you will be treating trading like a business and you will be learning and gaining confidence. I think this is so important, I am going to make the following statement: If you start out in this business using no common sense, you have no one to blame other than yourself when you lose all your money. There is no reason to ever lose a dime of your money while learning to trade. A well thought-out business plan, common sense and hard work is required for anyone who wants a chance at success. Many people meet those requirements and still fail, but it does not mean you have to watch your bank account go to zero.
MINIMUM REQUIREMENTS / THIS IS A BUSINESS
WHATEVER / WHICHEVER WAY YOU DECIDE TO TRADE YOU MUST (AT A MINIMUM):
- ON DAILY AND WEEKLY TIME-FRAMES, YOU ONLY DEMO-TRADE FOR THREE CONSECUTIVE PROFITABLE MONTHS IN A ROW. YOU DO NOT PROCEED TO STEP TWO UNTIL COMPLETED.
- OPEN AN ACCOUNT WITH HALF OF THE INVESTMENT YOU INTENDED TO GO FULL WITH AND CONTINUE TO ONLY TRADE DAILY AND WEEKLY TIME-FRAMES UNTIL YOU ARE PROFITABLE THREE MONTHS IN A ROW MINIMUM. YOU NEVER RISK MORE THAN TWO PERCENT OF YOUR ACCOUNT ON ANY ONE TRADE. YOU DO NOT PROCEED TO STEP THREE UNTIL STEP TWO IS COMPLETED.
- FUND A FULL ACCOUNT AND CONTINUE TO ONLY TRADE DAILY AND WEEKLY TIME-FRAMES UNTIL YOU ARE CONSISTENTLY BUILDING YOUR ACCOUNT FOR AT LEAST SIX MONTHS. YOU NEVER RISK MORE THAN 2 OR 3 PERCENT OF YOUR ACCOUNT ON ANY ONE TRADE.
- IF AND WHEN YOU DECIDE TO DAYTRADE ON A SMALL TIME-FRAME AND YOU DON'T FOLLOW THIS TEMPLATE, AT A MINIMUM, YOU ARE ALMOST CERTAINLY GOING TO FIND YOURSELFE IN TROUBLE. IF YOU ARE GOING TO FOLLOW A SYSTEM OR ANY TRADING STYLE AND YOU DON'T FOLLOW THIS TEMPLATE AS FAR AS THE DEMO PROCESS, YOU ARE NOT TREATING IT AS A BUSINESS AND YOU HAVE NO ONE TO BLAME OTHER THAN YOURSELF IF YOU LOSE YOUR MONEY.
- IF YOU EVER SUFFER THE LOSS OF 30 TO 35 PERCENT OF YOUR ACCOUNT, YOU STOP TRADING. PERIOD-PARAGRAPH. YOU GO BACK TO DEMO AND FIGURE OUT WHAT WENT WRONG. WHILE DOING THIS, YOU REFUND YOUR ACCOUNT BACK TO ITS ORIGINAL AMOUNT. YOU DO NOT GO BACK TO LIVE TRADING AGAIN UNTIL YOUR DEMO HAS SHOWN YOU WHAT WENT WRONG AND YOUR ACCOUNT IS BACK TO FULL STRENGTH BY WHATEVER MEANS. IF IT TAKES ONE MONTH OR SIX MONTHS, IT DOES NOT MATTER. YOU MUST FOLLOW THIS APPROACH IF YOU DON'T WANT BLOWN ACCOUNT AFTER BLOWN ACCOUNT.
Your goal should be this. Learn, learn and learn some more and don't do anything stupid while your getting your feet on the ground. The ultimate goal of any trader is to build an account to a size where just a few good trades a month produces a staggering income. Hardly anyone ever gets there because they don't treat it as a business. They do stupid things that they would never do in any other area of their life and it's because of the money that can be made. If it takes you a couple of years or even five or ten to reach the level of a staggering income, is it worth it? The choice is yours.
Here is a post from early 2009. It says in short form what im always trying to say and cant seem to keep short.
Every question that you could probably think of has been answered several times by now. The PF (www.james16group.com) is good because it has all the material in one place, it's concentrated, without a lot of the "external noise" that you might get on a public forum. You definately just need to listen to certain voices especially in this thread (If you read the thread from the start you will just start skipping some peoples posts after a while lol, and get to the good , that's what I did )
I say if you are cash strapped then just read this thread and follow it and demo, backtest. . Work. . . No need to put yourself under financial pressure my friend. ALL of the material in the PF, ALL the excellent traders in the PF (Instructors, Senior members and traders alike) Still will not on their own make you profitable, that is up to you.
That is up to you my friend, be steadfast, brace yourself and work hard and victory will be yours . . Now, or in the future.
This thread is like a series of signposts in the RIGHT DIRECTION (To profitability ) Signposts constructed by people who have navigated the dangerous and inherently confusing jungle of forex before. I have only come to appreciate this recently, but each single line that is said by certain people in this thread, has literally hours of experience, backtesting and work behind it. To give it a seal of authority that only experience can give. . .
It's a jungle out there . . But we are lucky enough to have signposts erected for us here . . . Set in stone, by the people who have navigated their way through the jungle before us. . .
Just some of my thought's . . .
UPDATE 11/25/09 - ABOUT THE JAMES16 GROUP PAID SERVICE
For those of you that are new to this thread i have finally decided to post something about our group in post #1. For 5 years this thread has been located in the general forum and we have had a policy OF NOT pushing people to join that group. In fact we have been mental about it. You could go weeks reading this thread and not know of the paid service. Thats really not going to change EVEN THOUGH we are now located in a commercial area of the forum WHERE WE CAN IF WE CHOOSE TO DO SO.
I HATE BEING IN THIS AREA BUT I RESPECT THE DECISION BY FF TO DO THIS.
Since i am here and although i am sure there are a few good people here im sure it will become a breeding ground for the very people i have sought to seperate myself from for 5 years.
How have i tried to seperate myself you ask? In many ways and i wanted to give you a list. This list was developed by trying to treat new traders the way i would want to be treated and not just to get in your pockets.
THE JAMES16 GROUP IS THE GOLD STANDARD IN THIS BUSINESS FOR ETHICAL BEHAVIOR AND PRODUCING SUCCESFUL STUDENTS.
I am proud of this list and i can say with pride...
1. HOW MANY EDUCATIONAL SITES ASKING FOR YOUR MONEY DO NO ADVERTISING? NONE. NEVER A DIME.
2. HOW MANY EDUCATIONAL SITES HAVE BEEN ASKED BY EVERY MAJOR BROKER IN THE WORLD TO PARTNER WITH THEM AND THE SITE HAS SAID NO TO EVERY ONE OF THEM?
3. HOW MANY EDUCATIONAL SITES HAVE NO AFFILIATES BY CHOICE?
4. HOW MANY EDUCATIONAL SITES WERE CREATED BY REQUEST?
5. WHAT EDUCATIONAL SITE IS SO RESPECTED FOR ITS HONESTY AND GOOD CHARACTER TO BE ASKED BY THE WORLDS LARGEST FOREX COMMUNITY TO BE ITS ONLY OFFICIAL PARTNER?
6. HOW MANY EDUCATIONAL SITES PUPOSELY CHOSE TO NOT USE A URL THAT WOULD BE CONSIDERED MARKETING ORIENTED?
7. HOW MANY EDUCATIONAL SITES HAVE AS MANY POSTED UNSOLICITED TESTOMONIALS?
8. HOW MANY EDUCATIONAL SITES USE NO FORM OF FREE ADVERTISING SUCH AS YOU TUBE BY CHOICE?
9. HOW MANY EDUCATIONAL SITES ARE HONEST ENOUGH TO GIVE YOU REASONS NOT TO JOIN?
10. HOW MANY EDUCATIONAL SITES COULD SURVIVE AND PROSPER FOR 5 YEARS THRU VIRTUALLY NO OTHER MEANS OTHER THAN WORD OF MOUTH AND POSITIVE RESULTS WITH THERE STUDENTS?
11. HOW MANY EDUCATIONAL SITES STATE CLEARLY THAT IF YOU CANT AFFORD US WE WILL HELP YOU FOR FREE?
12. HOW MANY EDUCATIONAL SITES HAVE HELPED 1000 TIMES MORE PEOPLE FOR FREE THAN PAID MEMBERS?
13. HOW MANY EDUCATIONAL SITES TELL PEOPLE TO SPEND A COUPLE OF MONTHS IN THERE FREE AREA FIRST BEFORE MAKING THE DECISION TO JOIN?
14. HOW MANY EDUCATIONAL SITES TELL PEOPLE NO WHEN THET TRY TO PAY FOR A FULL YEAR UPFRONT SO AS TO MAKE SURE THEY DONT REGRET A LARGE PURCHASE? ( i do this only for people without credit cards and after they have spent time in this free thread)
Honestly i could go on but the bottom line is this. I dont need income from the group to pay my bills like 99.999% of every other site on the net (THAT SHOULD TELL YOU SOMETHING) but thats not why i do things the way i do.
After 26 years in this business i know how hard it is to find truly decent people.
THE JAMES16 GROUP IS ABOUT TREATING YOU WITH DECENCY AND RESPECT AND TRYING TO GIVE YOU A CHANCE AT SUCCESS INSTEAD OF TREATING YOU LIKE A DOLLAR SIGN.
YES THE JAMES16 GROUP IS THE GOLD STANDARD AND WHEN I LOOK OVER MY SHOULDER I SEE NO COMPETITION.
IS THE ABOVE HYPE OR EMPTY PROMISES? IS IT VANITY OR EGO?
NO ITS THE TRUTH.
NOTE: In over 25 years of trading and learning its important for me to give credit where credit is due.
virtually all of my methods are original but some of the ingredients are often things i have learned from others and use in my own way. This is true for all of us that truly put in time and effort to find success in this business.
I want to thank the following people and as i remember others i will add them. I think all of these people are honest and good at what they do and teach.
The guy i played golf with in 1982 that had a rolex and a vette and could play golf everyday if he wanted. 4 hours with him is what started it all for me and i never saw him again. For many years i would have strangled him if i could have found him. I truly believe that guy was put in my life that day for a purpose and much of it may have been this thread. Life is funny like that isnt it? If you havnt lived long enough to understand what i just said you will someday.
IMPORTANT NOTE FOR THOSE NEW TO THE THREAD ON VARIATIONS TO THE ORIGINAL BASIC MATERIAL. 2/15/10
I see there is a debate about this. ive asked several people opinions and this was mikes.
" I think there is just no way to keep things "clean" in a huge public thread like yours. So you are going to have everyone's different viewpoints/methods all at the same time. Since they are all based off the same concepts I don't have anything wrong with it, we just have to be diligent in reminding the newbies the proper precautions and steps to take."
I agree with mike but im concerned nontheless.
We all know the basic material can truly help new people find some early success and we all know how critical that phase is.
I have zero problems with variations based off of the basic material but we must always make sure that new people understand what is best for them early on.
To do that I need the variation people to openly be willing to tell new people that demoing there variation is fine but they should concentrate on the basic material.
Obviously what we do here is simple but I DO NOT want new people coming out of the gate taking blind touch trades THINKING THAT IS WHAT THE THREAD WAS DESIGNED TO TEACH. NO NO NO.
You touch traders etc have fun and do your thing but help me keep the new people out of trouble.
I will put this in post 1 for reference.
Thanks to all of you regardless of what approach you take for keeping the thread a nice place for all traders.
THAT IS WHAT IS TRULY IMPORTANT TO ME.
below are some posts that i feel should not get lost in this very large thread. if you know of one not listed here please let me know.
below is how the thread started in early 2005.
i thought i would start a new thread to post charts. my question is this and i am sure merlin can let me know the answer. i am not sure if i want to do this yet but how many of you would like me to actually post potential trades. the thing to remember is that two people can take an identical entry and one will lose and the other will win. the variables to trading are endless. anyway what does everyone think. jim