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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

  • #5,881
  • Sep 6, 2007 3:59pm Sep 6, 2007 3:59pm
Quoting the_wizard
I put a small stake down over two months ago. It was £150 that I got free when I opened an account with a broker and I added another £50 to it, to make £200. In two months I have made upwards of 40 trades using what Jim has taught me and my stake is now £3,453.
Well done Wiz. You've achieved a 1700% return in 2 months... that's awsome dude.
Keeping it Simple
  • #5,882
  • Sep 6, 2007 4:09pm Sep 6, 2007 4:09pm
Quoting habeeb
Well done Wiz. You've achieved a 1700% return in 2 months... that's awsome dude.
Habeeb! How did I forget you! You made one of the best calls I ever saw on this forum. I remember it clear as day - it was in Gold right before the bull market kicked off. If anyone follows the old posts with current charts to see what happened after it will blow you away Thanks for the thumbs up dude.
  • #5,883
  • Sep 6, 2007 4:16pm Sep 6, 2007 4:16pm
Now imagine if you started for the third time with 1000 eur instead of 200eur. Me thinks you'd have a lot of cash on hand.

I would LOVE to join the PF --- but I am still so new... I haven't absorbed this entire forum yet... I feel like I would be skipping steps... or would I? I have the intention to join... why not make it sooner than later? or later than sooner.
"Please sir, may I have some more pips?"
  • #5,884
  • Sep 6, 2007 4:24pm Sep 6, 2007 4:24pm
Quoting J2FcM
Now imagine if you started for the third time with 1000 eur instead of 200eur. Me thinks you'd have a lot of cash on hand.

I would LOVE to join the PF --- but I am still so new... I haven't absorbed this entire forum yet... I feel like I would be skipping steps... or would I? I have the intention to join... why not make it sooner than later? or later than sooner.
There are things in the PF that we don't talk about out here that can and will transform your trading. But like anything - it is about how you respond to that information. There is a huge deal of info in there and if you haven't fully absorbed what is offered on the free side you will get in over your head. I tell you truthfully that I have been a member for about 6 months and I am not even a quarter of the way through. I am deliberately going slowly because there is not only more detailed PA, there is additional elements that take your trading to another level, then there is killer systems with backtesting results that will make your eyes pop out of your head, there is the pyschological and risk management side of things and there is other traders like Mike and Seeking who teach and write their thoughts and they all do similar things but on different time frames and sometimes in different ways. So you may get confused. You have to be ready for it. But when you are...oh boy...

To sum up: I would read through this whole forum from start to finish very carefully first and then join the PF.
  • #5,885
  • Sep 6, 2007 4:28pm Sep 6, 2007 4:28pm
thanks for the advice, I'm glad that is what I am doing then, as you have confirmed my worry that I'd get in over my head.

I will continue to read through this thread, and re-read all my print out while demo'ing. Once I get some info :LOCKED IN: so its like second nature in my brain, I will advance foward to the PF.
"Please sir, may I have some more pips?"
  • #5,886
  • Sep 6, 2007 6:05pm Sep 6, 2007 6:05pm
I'll say one more thing about the PF and then I'll shut up because I know Jim doesn't like using this as advertising space...

I am sure some people will make money using what is on the free side and wonder why they ever need to join the PF but I will tell you now that there is things in there that will take you to the next level. For example the video. There are things that we think we all know like support/resistance - easiest things in the world right? I've been looking at s/r for two long years now but when I saw Jim's vids and text I suddenly understood it for the first time.

If you join for one month you will never leave...
  • #5,887
  • Sep 6, 2007 8:13pm Sep 6, 2007 8:13pm
Quoting the_wizard
I'll say one more thing about the PF and then I'll shut up because I know Jim doesn't like using this as advertising space...

I am sure some people will make money using what is on the free side and wonder why they ever need to join the PF but I will tell you now that there is things in there that will take you to the next level. For example the video. There are things that we think we all know like support/resistance - easiest things in the world right? I've been looking at s/r for two long years now but when I saw Jim's vids and text I suddenly understood it for the first time.

If you join for one month you will never leave...
Right on, the forum is fantastic! I joined last month and am still going through things. I am in this for the long hall and so will continue to push forward. Like you said, it is all about you, and how you apply what you learn. One thing is for sure, it does not happen over night. The forum teaches you things in detail. I am glad I joined sooner rather than later because I learn by doing, and as I learn new PA and such, I make my own trades. This has been invaluable for me because I can evaluate why my trades went the way they did. I am learning more about myself also, and this is key. If one feels they have a basic grasp on FX, have placed trades, and understand the majority of this thread, I say join. Now, if you do join, be prepared for more than one month. Be prepared to study and seriously apply what is going on. This course is not a cliff notes for FX. You will be challenged but, if you have the tenacity and dedication, the door is wide open.
  • #5,888
  • Sep 6, 2007 8:31pm Sep 6, 2007 8:31pm
Quoting HipsterPipster
Right on, the forum is fantastic!
Amen!

I'm in since the beginning (Jan 2006) and still keep on wondering why I wasted all that $$$ on investing books. I guess FF wasn't even in Merlin's head, when I started collecting them.....
I'm no match for wizzard's 650%/month return .. but 100-200ps/month seems a breeze now.
Looking forward to a day when a pip will be worth $100...
  • #5,889
  • Sep 6, 2007 9:26pm Sep 6, 2007 9:26pm
Been in there close to a year now, nothing quite like it, that's for sure.

Westie
  • #5,890
  • Sep 6, 2007 11:00pm Sep 6, 2007 11:00pm
you guys are way to kind. your words do make me feel good and frankly with a couple of nasty posts at forex bastards lately i needed it. merlin told me early on that no matter how hard i tried there would be those that would question my integrity and try to smear my good name and he was right. if the group ended tomorrow i would just keep on doing what i do and spend my time in this thread. no one should hesitate to email me if they have a question. it doesnt matter if your a part of the group or not i will try to help in anyway i can.

jim
[email protected]
  • #5,891
  • Sep 6, 2007 11:06pm Sep 6, 2007 11:06pm
Quoting james16
you guys are way to kind. your words do make me feel good and frankly with a couple of nasty posts at forex bastards lately i needed it. merlin told me early on that no matter how hard i tried there would be those that would question my integrity and try to smear my good name and he was right. if the group ended tomorrow i would just keep on doing what i do and spend my time in this thread. no one should hesitate to email me if they have a question. it doesnt matter if your a part of the group or not i will try to help in anyway i can.

jim
[email protected]

Forex Bastards don't seem to be trustworthy to me. I get newsletters from him which are ok...but his reviews of brokers and such are biased. Just something fishy there.

Guaranteed that forexbastards.com get a whole lot more of negative talk than anybody of FF.

Just found your thread Jim....loving it. I'm a super noob that's been losing big. I now backtest my losses with some of your methods and now it's obvious where I screwed up.
  • #5,892
  • Sep 6, 2007 11:21pm Sep 6, 2007 11:21pm
thank you sir. what bothers me most about fb is anyone can post anything without having to prove they were even a member. for those like me that really do care about thier good name its tough to see posts that are simply not true. i would never mind an intellegent tough review but to put me in with the scammers is a tough pill to swallow. ive given my heart and soul for almost 3 years trying my damndest to be the anti-scam.

i dont want to be some high profile supposed teaching guru. ive never claimed to be one and want nothing to do with that kind of stuff. what i really want is to remain small and anonymous and just continue helping those that cross my path if i can. almost all the reviews there are 5 star but the truth is i wish i wasnt even there. i dont advertise anywhere. i havnt spent a dime on advertising since we started the group and have no plans to do so. i could care less if the group is 25 or 2500 as long as im having fun and people seem happy. im just as proud of this free thread as i am of the private group and i mean that.

jim




Quoting saint_berzer
Forex Bastards don't seem to be trustworthy to me. I get newsletters from him which are ok...but his reviews of brokers and such are biased. Just something fishy there.

Guaranteed that forexbastards.com get a whole lot more of negative talk than anybody of FF.

Just found your thread Jim....loving it. I'm a super noob that's been losing big. I now backtest my losses with some of your methods and now it's obvious where I screwed up.
  • #5,893
  • Sep 7, 2007 2:36am Sep 7, 2007 2:36am
Hi guys,
Just my two cents...I started following the public thread almost 6 months ago, and began trading Jim“s methods, it took me almost 2 months on demo to get profitable, well over a month anyway, and then I did 3 months of profitable pin-and-not-much-more demoing, all the while reading and contributing to the public thread. I joined the pf almost two weeks ago, and guys, its mind-blowing...I think you need to be prepared, Im still way over my head, there was a point where I lost it last week, theres just so much information. If you want my advice, until you have a good grip on the public side basics dont join the pf..then read read read and soak it all up, and like the others say, you will probly never leave.
To Jim, you know there will always be an fb out there, you just have to forget the noise...We here, and all the people that have joined the pf or even just asked you a question, we will always vouch for your honesty and your integrity and thats what counts. I know for a fact Felix cant say that himself...you run an honest show and you work hard and we all know it. Thankyou so much, for all your kindness and for how much its helped me and so many others...this has been my personal turn around point in trading. One month of live trading (small small small) I am +10 % from day 1...I am well pleased with that! take care all, Raz
Never say never.
  • #5,894
  • Edited 7:54am Sep 7, 2007 7:45am | Edited 7:54am
woohoo what a nice ride the dollar is giving us today.

Early PB on GBP/USD on both 1h and 4h. I got in early at 2.0195.
I have shorted USD/JPY below the 1h Pin Bar that bounced off my 200 simple ma, 110 pips later, I'm all sunny and smiling again after a lousy week in the ranges

Only thing bothering me is my forex account which is USD denominated. At least I'm beating dollar's losses here
  • #5,895
  • Sep 7, 2007 7:58am Sep 7, 2007 7:58am
Good stuff Goozman, great calls!

I was in the 1hr/4hr pin bar on GBP/JPY today and was 37 pips up and I held on and it spanked me and left me with just 3 pips.

The problem I find with trading size (and by size I mean where it starts to mean something to you) is that it can influence your decision making process. I think I made the right decision to hold but when closing out would have meant £148 profit and being stopped out meant just £12 profit, you still feel like you have done something wrong!

This is something that demo cannot teach you.
  • #5,896
  • Sep 7, 2007 8:05am Sep 7, 2007 8:05am
Although I want to add something, too, I really can't add anything new to what has already been said.

Jim is truly a great guy and the PF and this thread truly a gem to anyone with open eyes, ears and heart.

Can't really say anything else.

Both the PF and this thread are just something different and it immediately shows.


To quote NAS - "Pay homage, respect."
Trust price. Know yourself.
  • #5,897
  • Sep 7, 2007 8:07am Sep 7, 2007 8:07am
I didn't took GBP/JPY, I expected it to brake to the downside, and it looks like that is what's going to happen now. The range was pretty tough on both sides.

I got over position sizing when I gained enough trust in my calls. My biggest problem (still is) choosing when to take profit. More recently I'm just aiming for 100 pips profit on all trades with really close stop loss, less then 40 - 50 all the time. 20 trades a month, +75% winning ratio...you're showing nice profit

With 2:1 take profit/stop loss ratio you don't need a large win rate on your trades, but if you trade like a sniper you get it anyway.
  • #5,898
  • Sep 7, 2007 8:10am Sep 7, 2007 8:10am
Quoting the_wizard
Good stuff Goozman, great calls!

I was in the 1hr/4hr pin bar on GBP/JPY today and was 37 pips up and I held on and it spanked me and left me with just 3 pips.

The problem I find with trading size (and by size I mean where it starts to mean something to you) is that it can influence your decision making process. I think I made the right decision to hold but when closing out would have meant £148 profit and being stopped out meant just £12 profit, you still feel like you have done something wrong!

This is something that demo cannot teach you.
Good trade to cut short being in such a tight chan. A small win here is a big win I think.

I wasn't prepared to trade until we left this channel, now I will look for a short when it presents itself
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  • #5,899
  • Edited 8:21am Sep 7, 2007 8:11am | Edited 8:21am
If instead of always going for the monster one woulda looked closer at the "core" pair, there was a super duper simple shmimple setup. (just think that the old "small stop = more leverage vs giant stop = lower leverage still holds true for UJ vs GJ...it's not about the pips, it's about the r/r or % in / out)

DBHLC, IB, breakdown of both after a TL loss => fall.

IB was the thing to trade here to the downside. Coulda put the order to coincide with the DBHLC low break.


DJI and S&P trendlies died parallel to this as well.


(P.S. Gold hit that 700$ and 704$, yayyyyy! Took first third off.)
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Trust price. Know yourself.
  • #5,900
  • Sep 7, 2007 8:14am Sep 7, 2007 8:14am
Quoting SeekingLight
Jim is truly a great guy and the PF and this thread truly a gem to anyone with open eyes, ears and heart.

Can't really say anything else.
Indeed it is. A great thread with a lot of good stuff for your brain grey matter.

I read the FB complain that affected Jim (why charge for this info when it's free all over the internet). To that person I say: direct me to any place where this info is presented and explained as well as it is here. Plus you can't find a better place to see other price action experts (or soon to be experts) in action.

Thank you Jim
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