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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

  • #33,281
  • Jun 12, 2009 6:08pm Jun 12, 2009 6:08pm
Quoting Matiasfx
You can play the touch (riskier) or wait for PA (more conservative), just depends on your style and risk managment. There is no rigth or wrong as long as u know what u are doing.

Just make sure u feel confortable and you test and practice a LOT before doing it with a live account.

Mat
yeah, thnx ill def look into the two methods
pls do post more of the pa fib ret charts......thnx
Simplicity is the key to success
  • #33,282
  • Edited 7:17pm Jun 12, 2009 6:14pm | Edited 7:17pm
Quoting zuret9
Hi Jim,

By break performance, do you me strong break and a pullback prior to initiating a position? Do you only look for Double Inside bars on 4hour charts and above? Many thanks,

Z
By break performance I mean how hard, strong, steady, robustly, etc (or the opposite adjectives)
of the break of Price at our trigger or entry position.

That could be a highly confluenced Double Inside bar on the 4 hour or swing high BEOB on the Daily or a doji with a capricorn head and butterfly wings on the 16 hour chart.

I feel all setups, be it J16 PA or others, have to show some sign of strong movement at its trigger. Price Action with supportive confluences (the A+ trade) shows this strong momentum movement . . . time and time again.

Pullbacks or retests (for me) confirms the setup and validates the entry or break.

Double Inside Bars can be on any time frame. They do not show up that often, so a fast time frame is need to see more of them. The 4 hour time fits well for frequency and its not that low compared to the Hourly or 30min , etc.

Hope this helps

Jim
Indicators show the past. Price Action "Indicates" the future.
  • #33,283
  • Edited 6:51pm Jun 12, 2009 6:16pm | Edited 6:51pm
Quoting james16
YOU SIR ARE WORTH YOUR WEIGHT IN GOLD TO ME.

i truly appreciate what you do here.

there are many of you here like that and i probably dont say it enough.

jim
Thanks Jim. We know how you feel. You say it plenty, more then enough.

I sometimes get carry away.
Indicators show the past. Price Action "Indicates" the future.
  • #33,284
  • Jun 12, 2009 6:22pm Jun 12, 2009 6:22pm
Sorry, I know this is from a few days ago but just had to answer.

I first got interested in the markets when I got a Ken Roberts course but didn't get into trading until we went through the Wade Cook Wall St class and yes we also still have a bunch of his stuff.

I will say one thing about it, it did get me into trading, not good enough for full time.
Of course now I found something much better - James 16 P/A

Ray


Quoting james16
geez theres a name from the past. cook was big into covered calls and credit spreads among others. easy money for a few years and then kaboom.

i have all of cooks material but then i have everyones material since about 1980. lol.

remember rolling stocks? i must admit i made a lot of money playing the rolling stock strategy.

all of those strategies can be profitable IF you enter at the right time.

If you dont then its similar to slamming on your breaks 50 feet from a cliff at 50 miles per hour

or put another way...

it feels...
  • #33,285
  • Jun 12, 2009 6:50pm Jun 12, 2009 6:50pm
Quoting jarroo
By break performance I mean how hard, strong, steady, robustly, etc (or the opposite adjectives)
of the break of Price at our trigger or entry position.

That could be a highly confluenced Double Inside bar on the 4 hour or swing high BEOB on the Daily or a doji with a capricorn head and butterfly wings on the 16 hour chart.

I feel all setups, be it J16 PA or others, have to show some sign of strong movement at its trigger. Price Action with supportive confluences (the A+ trade) shows this strong momentum movement . . . time and time...
Thanks for the explanation Jim.
  • #33,286
  • Edited 7:24pm Jun 12, 2009 6:54pm | Edited 7:24pm
I have never shared one of these in this public thread but im gonna share this one.

im gonna share this one to bring hope and show the newbs how its done.

recieved this today. if your new dont just read this. break it down and READ THIS.

THIS IS NOT ABOUT ME.

ALL I DID WAS POINT THE WAY AND GIVE THE GUY A FEW HINTS.

I CANT DESCRIBE WHAT THESE MEAN TO ME ON A PERSONAL LEVEL.

THESE ARE WHY I DO THIS.

I UNDERSTAND THIS PERSON AND WHERE HE HAS BEEN.


Hi James,
This email is to say Thank You. You have played an important part in my trading story; a story that I am happy with.

I have twice joined your private group for a couple of months at a time.
I watched your videos and read your material.

I printed out every chart you had posted and had them bound into a book.
It cost me a few hundred dollars to get nearly 200 pages of material professionally printed on color laser printers and then bound as a reference book.

I poured over all of the psychology stuff from Fiji.

I sat and cried as I read Fiji's stuff and his comments cut to the heart of my life. (Fiji, you are great). Yet I never asked him a question. I just read his comments to others.

I studied your material and reviewed your posted charts for months. I still have them on my desk and go over it regularly.

I traded a small live account for two years.
I didnt lose money. I traded very small. Usually risking 5 to 10 dollars. Rarely risking more than $50. (I never liked pure demo trading, I needed to use small amounts of real money).

I took hundreds and hundreds of trades.

I made notes on why I took them and what went right and what went wrong.

I learned that price action from support/resistance gives high probability entries.

I learned I can trust the probabilities.
I learned how not to let a profit turn into a loss.
I learned how to grow my account little by little.
I learned how a single bad trade can take a long time to recover from.
I learned that 70% winning trades is easy.
I learned that trading is not just about making money, its about balance and lifestyle. (Ask me about my 3 months of trading 5 minute charts full time!)
I learned that 4 hour and daily charts are 100 times easier (and better for lifestyle) than 5minute charts.
I learned that I can consistently make money trading.
I learned this game is really simple.
I learned that I can trust myself.
I learned that I CAN trust myself
I learned that I can TRUST myself.
I learned that I can trust MYSELF. (Can you tell that this was a significant learning for me <grin>)
I learned that my trading has to be 100% my trading.

Overall, I guess I invested $2000 of real money in my J16 trading education, and that included all losses, about 5 months of the private forum (in two stints) and a few hundred dollars just printing out material and making a book out of it. (I've blown over $20k on other courses and software from self proclaimed gurus, that left me with zip, nada, nothing. So the J16 education was cheap, and led to owning a lifelong skill).

As I proved to myself that I can do it with a small account; I recently significantly increased my account size.

My results from my small account have carried over to my large account.
My last 25 trades have resulted in 18 wins, 2 break evens and 5 losses. My account is up 12.2 times my risk.

In this last week alone, I handsomely recouped all the money I invested in my J16 education and went well into profit.

While I must also recognise the Jacko's influence on my trading, it is clear that your teaching is predominately responsible for the profits I have in my account.

Since I am now definitely in profit, trading a good sized account and netting a handsome income from trading (my trading is delivering 3 times what my wife used to make a teacher), I think its time to say...

THANK YOU
  • #33,287
  • Jun 12, 2009 7:02pm Jun 12, 2009 7:02pm
Quoting james16
I have never shared one of these in this public thread but im gonna share this one.
Wow. Fantistic. Awesome. Beautiful.
Indicators show the past. Price Action "Indicates" the future.
  • #33,288
  • Jun 12, 2009 7:34pm Jun 12, 2009 7:34pm
Quoting james16

I think its time to say...

THANK YOU
A big THANK YOU Jim. This is something that cannot be said enough.

Z
  • #33,289
  • Jun 12, 2009 7:38pm Jun 12, 2009 7:38pm
Thanks Jim, for this kind of posts.
For me this is more valuable than a chart.....

Quoting james165
I have never shared one of these in this public thread but im gonna share this one.

im gonna share this one to bring hope and show the newbs how its done.
....

THANK YOU
What does not kill me makes me stronger. Friedrich Nietzsche,
  • #33,290
  • Jun 12, 2009 7:47pm Jun 12, 2009 7:47pm
Quoting james16
I have never shared one of these in this public thread but im gonna share this one.

im gonna share this one to bring hope and show the newbs how its done.

recieved this today. if your new dont just read this. break it down and READ THIS.

THIS IS NOT ABOUT ME.

ALL I DID WAS POINT THE WAY AND GIVE THE GUY A FEW HINTS.

I CANT DESCRIBE WHAT THESE MEAN TO ME ON A PERSONAL LEVEL.

THESE ARE WHY I DO THIS.

I UNDERSTAND THIS PERSON AND WHERE HE HAS BEEN.


Hi James,
This...
very nice
  • #33,291
  • Jun 12, 2009 8:09pm Jun 12, 2009 8:09pm
Quoting james16
I have never shared one of these in this public thread but im gonna share this one.

im gonna share this one to bring hope and show the newbs how its done.

recieved this today. if your new dont just read this. break it down and READ THIS.

THIS IS NOT ABOUT ME.

ALL I DID WAS POINT THE WAY AND GIVE THE GUY A FEW HINTS.

I CANT DESCRIBE WHAT THESE MEAN TO ME ON A PERSONAL LEVEL.

THESE ARE WHY I DO THIS.

I UNDERSTAND THIS PERSON AND WHERE HE HAS BEEN.


Hi James,
This...
thank you sir
these are not just teachings on forex trading but also on LIFE in general
i will cherish your words dearly
more grease to you JIM
Simplicity is the key to success
  • #33,292
  • Edited 10:10pm Jun 12, 2009 8:43pm | Edited 10:10pm
Quoting krue
start moving down now. cheers
This was my trade almost exactly!! I put on 2 lots, wish I had done more, but lost some earlier in the day finding the right "top" to go short from. Pulled out after seeing some strong rejection of 1.3950 on the 30 min chart- took 2 x 115 pips in the end. Not sure whether to play the long trade that is setting up or wait for the more likely much bigger short after this retracement tops out to complete the larger daily Head & Shoulders pattern which is 530 pips from neckline to top- this gives a target of 1.3645 or thereabouts going down from the right shoulder. Will you be looking to go short again on this later?

Regards, Chris
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The world's true gold is it s people (CTGC).
  • #33,293
  • Jun 12, 2009 9:02pm Jun 12, 2009 9:02pm
  •  krue
  • | Joined Mar 2008 | Status: finger scares cat, power of illusio | 410 Posts
I was stopped out at breakeven, I had similar with GU at earlier day same week. feel a little bit disappointed, but, I knew its all about mentality, one way or the other, one will make his style. I will review the strategy after enoug of practise.

regarding to longer term riding, I am not very comfortable to do it for now, 100-200pips each trade seems more comfortable to me than seeing the swings even zero if move breakeven quick. so, will look into any opportunity which fits jim16 pa criteria, won't limit to one pair, neither expecting what might happen in the market next, just make life easier.

Quoting CTGCollins
This was my trade almost exactly!! I put on 2 lots, wish I had done more, but lost some earlier in the day finding the right "top" to go short from. Pulled out after seeing some strong rejection of 1.3950 on the 30 min chart- took 2 x 115 pips in the end. Not sure whether to play the long trade that is setting up or wait for the more likely much bigger short after this retracement tops out to complete the larger daily Head & Shoulders pattern which is 530 pips from neckline to top- this gives a target of 1.3645 or thereabouts going down from the...
  • #33,294
  • Jun 12, 2009 9:14pm Jun 12, 2009 9:14pm
Quoting james16

Hi James,
This email is to say Thank You. .........Since I am now definitely in profit, trading a good sized account and netting a handsome income from trading (my trading is delivering 3 times what my wife used to make a teacher), I think its time to say...

THANK YOU
STRONG! Thanks for posting this Jim.. Way to go anonymous trader. As a wise person once said "Those that have patience can have what they will".

K.I.S.S.
  • #33,295
  • Jun 12, 2009 9:54pm Jun 12, 2009 9:54pm
Wow.. I also want to thank you for all your teaching. I never post but I am always here. You guys are like another family.

Hey James thank you and I love you brother.
The more obstacles I overcome the better man I become.
  • #33,296
  • Jun 12, 2009 10:10pm Jun 12, 2009 10:10pm
Thanks James, It's so much information you're sharing in this thread. It's gonna be awhile for me to read all, but I will enjoy the process you have been through. I'm only trading for only two years and still not perfect, sometimes in process blowing my account. Till now I'm still unable to create consistent profit, sometimes loss . The only profit I generate are by using EA. It's a shame. Really. My desire is to be a full fledge trader. I hope I could learn as much as I can from this forum.

I can't thanks enough for a lot of information inside Forex Factory. Thank you from deepest of my heart.
Just a monkey who love to dance and laugh. {Promotion Removed}
  • #33,297
  • Jun 12, 2009 11:08pm Jun 12, 2009 11:08pm
Quoting sevejose
Wow.. I also want to thank you for all your teaching. I never post but I am always here. You guys are like another family.

Hey James thank you and I love you brother.
Lucky for me I have got to speak to James personally many times. He is even more nice then he comes across posting, if that is possible to believe. The friendships this thread has brought me is incredible. So while we are saying thanks here is mine. Thank you all.
  • #33,298
  • Jun 13, 2009 1:19am Jun 13, 2009 1:19am
Quoting james16
I have never shared one of these in this public thread but im gonna share this one.

im gonna share this one to bring hope and show the newbs how its done.

recieved this today. if your new dont just read this. break it down and READ THIS.

THIS IS NOT ABOUT ME.

ALL I DID WAS POINT THE WAY AND GIVE THE GUY A FEW HINTS.

I CANT DESCRIBE WHAT THESE MEAN TO ME ON A PERSONAL LEVEL.

THESE ARE WHY I DO THIS.

I UNDERSTAND THIS PERSON AND WHERE HE HAS BEEN.


Hi James,
This email is to...
No storm's blowing you away Jim...

Not till the hundred's of us have found a way to pay you back...

Regards,
Ghous.
I believe . . .
  • #33,299
  • Jun 13, 2009 1:53am Jun 13, 2009 1:53am
Hi,guys
Where can I find manual about James16's method?
Best regard!
  • #33,300
  • Jun 13, 2009 2:09am Jun 13, 2009 2:09am
Quoting yuyudada
Hi,guys
Where can I find manual about James16's method?
Best regard!
Hey Yuyudada

There is no real manual, as the James16 is not a system but a method. I know stumbling into this thread one says, "holy crap this thing is long". But if you just start at page 1 and work your way through, slowly, by time you hit 200-300 pages your eyes will be wide open and you will not want to stop. There are some great posts pulled out and marked in post 1 on this thread as well. But just working through from start to finish is what I always recommend.

Best of luck!
MIke
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