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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

  • #142,761
  • Mar 8, 2019 12:06pm Mar 8, 2019 12:06pm
Quoting canados
Hello guys, I'm one of those that have to thank Jim for showing me the light when in 2008 I almost quitted trading. He changed my life, but I'm writing this post because I would like to see some things clearer. I was a commercial member in the forum, which is offline now. I can say that I lost my money, since the initial videos were more than enough to understand how Jim was analyzing the charts. I feel a little bit scammed, to be honest, but it's ok. Don't know why, but even if today I'm satisfied with my trading, in the last few days I wanted...
Hello Canados! I was wondering the same thing about Jim. But I never found out about him. So I decided to ask other question. Does the James16 method work? In my opinion, this issue is more important. And I found a few professional traders who successfully traded using the James16 method. Its RachekFX and Tom Dante (The Wizard). I don't know what happened to RachekFX, but I know what happened to the wizard. I read his posts on different forums, and I have no doubt that he is a profitable trader. After he earned his first money on the James16 method, he got a job in the prop firm Futex. More information about how Tom Dante (the Wizard) to trade it by the method James16 can be found on the forum Trade2Win. If the James16 method works then what difference whether Jim and Mike are scams or not? And finally, If anyone knows about Jim or Mike, it's maybe Habib. I've seen his posts on the first page of this thread. He's a real veteran here. Sorry for my bad english. I hope that someone will find this information useful.

best regards!
  • #142,762
  • Mar 8, 2019 12:39pm Mar 8, 2019 12:39pm
Quoting Aleks90
{quote} Hello Canados! I was wondering the same thing about Jim. But I never found out about him. So I decided to ask other question. Does the James16 method work? In my opinion, this issue is more important. And I found a few professional traders who successfully traded using the James16 method. Its RachekFX and Tom Dante (The Wizard). I don't know what happened to RachekFX, but I know what happened to the wizard. I read his posts on different forums, and I have no doubt that he is a profitable trader. After he earned his first money on the James16...
yes, I know Tom, his story, and follow him everyday on twitter. I was an avid reader of raczek posts too.
Jim's style works 100%, it's the right path (confluence, pivot zones, BUOB, PINS and so on), but you have to pratice and mix with common sense and other price action stuff you can learn from other sources and experience.

Just want to know more about Jim and truths about the website. It's strange that nobody had a coffee with Jim in person.

I'm sure Jim was a protrader, I can also remember a picture of him in front of his workstation. I also know that the website made millions. When at the top there where 56,000 members. You do the math. So maybe he quitted a stressfull career like trading to real estate (I remember he was into real estate, like stated in one of the emails sent to members)
  • #142,763
  • Mar 9, 2019 3:51am Mar 9, 2019 3:51am
Quote from James Post #1 "THE NEW SITE WILL CONTINUE ON WITH THE HONOUR AND INTEGRITY SHOWN TO0 ALL FOR NOW OVER TEN YEARS"
Those words seem pretty cold now. He let a lot of people down, his actions were callous, bordering on criminal. One message saying that he was closing the site down would have at least shown some sort of integrity, he obviously didn't give a monkeys for all the people that supported him, for all his bluster and philosophical musings he obviously only cared for himself.
I don't know how many invested in property with him from the old forum, I just hope they had their wits about them.
  • #142,764
  • Mar 10, 2019 5:45pm Mar 10, 2019 5:45pm
GBPAUD – Direction to the channel support? – 11/03/2019
https://comparic.com/gbpaud-directio...line-11032019/
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It's tough to make predictions, especially about the future...
  • #142,765
  • Mar 12, 2019 11:54am Mar 12, 2019 11:54am
Hi guys! Yesterday I decided to take this setup. 150 EMA + pinbar. I think the price may exceed the level 2821,50. Also I think that it been better to buy NASDAQ because it is stronger. What do you think about it?
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  • #142,766
  • Mar 12, 2019 6:40pm Mar 12, 2019 6:40pm
Quoting Aleks90
Hi guys! Yesterday I decided to take this setup. 150 EMA + pinbar. I think the price may exceed the level 2821,50. Also I think that it been better to buy NASDAQ because it is stronger. What do you think about it? {image}
Brave man trading straight into a resistance area Al. What was your tp?
  • #142,767
  • Mar 13, 2019 2:53am Mar 13, 2019 2:53am
Quoting Aleks90
Hi guys! Yesterday I decided to take this setup. 150 EMA + pinbar. I think the price may exceed the level 2821,50. Also I think that it been better to buy NASDAQ because it is stronger. What do you think about it? {image}
Al a PB is not worth a pinch of shit imo except as confirmation at a level where I am looking for a reversal. Some may disagree.
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  • #142,768
  • Mar 13, 2019 3:22am Mar 13, 2019 3:22am
Yesterday I was shot GU GCad both similar setups.My point is that I was waiting for price to approach this levels expecting a reversal. THEN I look for a pin, engulf or whatever ie the location is what counts.
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  • #142,769
  • Mar 13, 2019 4:58am Mar 13, 2019 4:58am
Quoting mallee
{quote} Brave man trading straight into a resistance area Al. What was your tp?
Hello Mallee! I took my profit yesterday at market close I decided not to risk. We've almost reached the resistance level.
  • #142,770
  • Mar 13, 2019 7:46am Mar 13, 2019 7:46am
S&P500
BeOB on the weekly chart. Price has retraced to the PPZ and BRN at 2800.
I'm short, targeting 2630.
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Keeping it Simple
  • #142,771
  • Mar 13, 2019 7:53am Mar 13, 2019 7:53am
Quoting mallee
{quote} Al a PB is not worth a pinch of shit imo except as confirmation at a level where I am looking for a reversal. Some may disagree.{image}
Thanks for your reply. I dont want take all the pinbars. But this PB is location on EMA 150. I try take PB on PPZ, EMA (150, 365) and trend-line. Your PB on H4 chart (eur/nzd) is good-looking.

best regards!
  • #142,772
  • Mar 14, 2019 4:22am Mar 14, 2019 4:22am
Quoting habeeb
S&P500 BeOB on the weekly chart. Price has retraced to the PPZ and BRN at 2800. I'm short, targeting 2630. {image}
Hi Habeeb, looking at the 30 I'm thinking the Dow might have another leg up to 2900.
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  • #142,773
  • Mar 14, 2019 4:31am Mar 14, 2019 4:31am
CHFJPY At FTA,
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  • #142,774
  • Mar 14, 2019 8:20am Mar 14, 2019 8:20am
CADJPY it seems a good setup to go short. I'm waiting for a PB
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  • #142,775
  • Mar 15, 2019 8:01am Mar 15, 2019 8:01am
Quoting sirovai
CADJPY it seems a good setup to go short. I'm waiting for a PB {image}
4H
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I choose to take this 4H pb. There is an up trendline so i put my sl at be. Eventually i will add some after the daily close
  • #142,776
  • Mar 16, 2019 7:34pm Mar 16, 2019 7:34pm
Quoting alphac
Quote from James Post #1 "THE NEW SITE WILL CONTINUE ON WITH THE HONOUR AND INTEGRITY SHOWN TO0 ALL FOR NOW OVER TEN YEARS" Those words seem pretty cold now. He let a lot of people down, his actions were callous, bordering on criminal. One message saying that he was closing the site down would have at least shown some sort of integrity, he obviously didn't give a monkeys for all the people that supported him, for all his bluster and philosophical musings he obviously only cared for himself. I don't know how many invested in property with him from...
Why continue posting here? Why other's support fraud and abuse? Biggest thread in FF history seems biggest scam. Too sad....
Freedom is not free
  • #142,777
  • Mar 17, 2019 3:14am Mar 17, 2019 3:14am
Quoting Abe16
{quote} Why continue posting here? Why other's support fraud and abuse? Biggest thread in FF history seems biggest scam. Too sad....
Perhaps because he is a protrader and one of the best Chartists I have seen.Alphac knows more about the J16 history than most.Which makes him more than entitled to comment. Contrast that with a loser posting from his mothers en suite.
  • #142,778
  • Mar 17, 2019 8:37am Mar 17, 2019 8:37am
Quoting canados
Hello guys, I'm one of those that have to thank Jim for showing me the light when in 2008 I almost quitted trading. He changed my life, but I'm writing this post because I would like to see some things clearer. I was a commercial member in the forum, which is offline now. I can say that I lost my money, since the initial videos were more than enough to understand how Jim was analyzing the charts. I feel a little bit scammed, to be honest, but it's ok. Don't know why, but even if today I'm satisfied with my trading, in the last few days I wanted...


What does it mean when somebody calls James16 a scammer?
I was an avid reader of the original thread back in 2007 back when mbqb11 and razcek were posting regularly.
I don't know if Jim could trade well, but he was a good analyst - I have only seen one better (but way way better) than him since 2007.
His 'method' probably works for some people and it is based upon sound principles like Confluence,
but it ignored too many important subjects like Volume, Time of Day, Correlations, Targets and Trade/Money Management.

I was constantly frustrated by his claims that you could make a certain amount with a certain trade. I would ask with which SL and TP strategy was that achieved?
From what I could see you would have needed a different SL and TP strategy for every trade.

I didn't join his Forum because it seemed that he had put all he knew into his FF thread.
  • #142,779
  • Mar 17, 2019 9:34pm Mar 17, 2019 9:34pm
I'm new to FF but I've been trading for 10+ years. This thread is obviously one of the originals to FF at it's inception. I can see many are loyal to Jim, Mike and others. It's also easy to see that there once was a vigorous camaraderie here. Jim has very long absences between posts which is odd but given the outcome it now makes sense. Mike seemed to be the one running the show for quite a long time. I know who Mike (Mike Bozello) is and he's currently at Stocktwits and doesn't really actively trade anymore but rather is a PR kind of guy. Although impossible to review this once great thread in such a short time it's difficult to see anyone professing profitability from the mish-mash of methods that seem to comprise J16. But that honestly doesn't say much since few if any are able to do so here at FF.

Raczek's thread however was a bit different. In fact I was a member of the Rac cave sometime ago. I reviewed his thread here in it's entirety and the Racman had something not communicated in this thread. Of course Rac was kind of secretive in his methods but he was profitable. Although Rac had respect for the J16 thread he also had somewhat of a falling out with Jim and had something to do with him starting his own website. In the end it's apparent Rac learned something here.

But loyalty to a failed thread that seems wrought with deception doesn't make money. Seems Jim had a very convincing scam going on for a very long time. Once Mike left it fell apart. Sadly there are still some hanger on's. But if you've managed to learn something from this infamous thread and are making money then more power to you.
Freedom is not free
  • #142,780
  • Mar 19, 2019 1:08pm Mar 19, 2019 1:08pm
I am curious what the best way to go about managing risk on a weekly chart is? I know the setups are stronger on higher time frames but its difficult to control risk as sometimes the PA dictates large stop sizes. Granted the R:R remains the same as smaller time frames but requires more capital at risk. Any suggestions on what has worked for others in the past. Possibly dropping down time frames to find better places within weekly bars that a stop could be placed at... Thank you for the help.

-Ryan
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