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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

  • #41,341
  • Aug 18, 2009 11:49am Aug 18, 2009 11:49am
Quoting tac
I'm not aggressive just debating, I don't see the point in looking at max trade ran as it is very difficult to judge exactly when price stops and reverses. The best you can get is a percentage of the max trade ran....
if you have a small account it would not be beneficial to move down.

you cannot rush from 500bucks to 100k trading hourly and 4HR..
you need to be realistic about your gains..
do you think you can make 4% a week consistently for the next 52 weeks? or for the next 3-4 years?

trading forex will not make you rich
in most cases it will make you poorer than when you started
if you do make it to the few 1% that succeed at forex it will just be a supplement to your income.
it will not replace your daytime job..
unless of course you were already very successful at some other venture in life and made a ton of money.. then you wouldn't need to work anyway whether you are trading forex or not
  • #41,342
  • Aug 18, 2009 12:01pm Aug 18, 2009 12:01pm
Quoting dengzhi
it will not replace your daytime job..
I do not like this sentence at all. Are you actually saying it is not possible to make a living from forex in your opinion?

I believe different.

Ben
  • #41,343
  • Aug 18, 2009 12:04pm Aug 18, 2009 12:04pm
Quote
broker is determining the parameters

Hmmmp you got me thinking on this one.


Quote
May i ask - for when using 4H charts, do you use 0000 hrs GMT as the start of the day, or you use the London open of 0700 hrs GMT? Assuming you trade the GBP and Euro pairs.

It's windsor MT4 check it out yourself.

Quote
in most cases it will make you poorer than when you started
if you do make it to the few 1% that succeed at forex it will just be a supplement to your income.
it will not replace your daytime job..

Now i don't wan't to go in this topic but weather it's true or not i don't wan't to believe it.
  • #41,344
  • Aug 18, 2009 12:10pm Aug 18, 2009 12:10pm
Quoting benji533
I do not like this sentence at all. Are you actually saying it is not possible to make a living from forex in your opinion?
I believe different...
read his post completely, do not read it out of context.
what he said is an opinion & fact at the same time. (applicable to most, not ALL traders)

anyway, do not be disheartened.
insulate yourself from negative views/insights but be aware of and do not disconnect yourself from reality.

It's great that u feel/believe differently.
if we do what is needed to be done, if we focus & persevere, then we will succeed. it's that 'simple'.
  • #41,345
  • Aug 18, 2009 12:17pm Aug 18, 2009 12:17pm
here is something i recieved today.

i very very very rarely do this in the free thread.

im doing this to say something.

success is not a destination. its a journey and a damn fun one if you allow it to be.

example?

my "day jobs" are to numerous to list but they are not "jobs". i do the things i enjoy.

i live and breath for challenges in life ladies and gents.

the thrill of victory and the agony of defeat BOTH make me feel alive.

to many people live there lives in the stands watching the game.

i want to be on the field playing as hard as i can.

live or die, win or lose matters not.

I WILL NOT STAND AT THE END OF MY LIFE AND WONDER WHAT IF.

use common sense, pace yourself, love to learn, expect to be knocked on your ass often and realise obstacles and difficulties are almost always hidden oppurtunities that NEVER show themselves to quitters and people of low integrity.

----------------------------------------------------------------------
Hi Jim,

I just wanted to send you an email saying thank you. I'm no longer a member of the J16 group not because it didn't work for me, just because I didn't use your services anymore. What you taught me finally struck and it worked. It worked damned well. You know what? There has only been 1 trade I've ever been stopped out on since I'm found my groove, and that day I didn't even lose money. It was when I got a signal on the GBPJPY and the EURJPY to buy both, one stopped me out and one went for it. This is like 50+ trades and only 1 loss. I don't even stress about trades or being in trades anymore, I just keep sniping away at the market. Sure I'll see price going to a reistance level and think, oh price is gonna bounce off it, and it does, but if I don't get price action I don't take the trade simple. Its those trades that a real eye sore, its at a strong resistance, its has a beautiful pin, its got a few hundred pips before the next major resistance, yeah I'm really comfortable taking those, then heading off to the gym.

Now the reason I didn't use your services anymore, to be honest I didn't need your teaching anymore. I already knew it, I have my style it works. I didn't want to try anything else cause hey, its working, I put my time into it, and I'm making money from it. I have a busy life and a few hobbies which are extremely time consuming. If anything I looked forward more to hearing from you, that your teachings. I didn't even log into the website or check my emails from you for a few months, so thats why I made my decision.

I just wanted to let you know that what your doing it works. You gave me such a hope in my life, you couldn't even believe how happy I am now. This is thanks to your group. Success, money and financial freedom is one thing, but happiness is sure another. Thank you Jim, for all your hardwork and effort, I really applaud what you do.






Quoting benji533
I do not like this sentence at all. Are you actually saying it is not possible to make a living from forex in your opinion?

I believe different.

Ben
  • #41,346
  • Aug 18, 2009 12:18pm Aug 18, 2009 12:18pm
Quoting benji533
I do not like this sentence at all. Are you actually saying it is not possible to make a living from forex in your opinion?

I believe different.

Ben
Guys what's wrong,

All day we've been picking a line or 2 out of a great post and dropped upon it like a tonne of bricks.

I am sure he didn't mean this at all Benji,

Jeez...
I believe . . .
  • #41,347
  • Aug 18, 2009 12:20pm Aug 18, 2009 12:20pm
Quoting james16
here is something i recieved today.

i very very very rarely do this in the free thread.

im doing this to say something.

success is not a destination. its a journey and a damn fun one if you allow it to be.

example?

my "day jobs" are to numerous to list but they are not "jobs". i do the things i enjoy.

i live and breath for challenges in life ladies and gents.

the thrill of victory and the agony of defeat BOTH make me feel alive.

to many people live there lives in the stands watching the game.

i want to...
Yes,

When Jim quietly sits down at the bottom of the thread for quite some time we know something like this coming...





Good to see you back on the thread Jim.
I believe . . .
  • #41,348
  • Aug 18, 2009 12:23pm Aug 18, 2009 12:23pm
here is a recent trade.

Pinbar 4hr, silver. Confluence 50 and 61.8 from CLEAR swing points. 14 round number confirmed PPZ.

Where is this one going after a very steep decline? Right to that clear Bar low
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  • #41,349
  • Aug 18, 2009 12:26pm Aug 18, 2009 12:26pm
lol.

i wonder sometimes if people notice im lurking.

now i know the answer.

jim

Quoting ghous
Yes,

When Jim quietly sits down at the bottom of the thread for quite some time we know something like this coming...





Good to see you back on the thread Jim.
  • #41,350
  • Aug 18, 2009 12:29pm Aug 18, 2009 12:29pm
Quoting james16
lol.

i wonder sometimes if people notice im lurking.

now i know the answer.

jim
I am actually glad Mike was able to get rid of the disease.



I believe . . .
  • #41,351
  • Aug 18, 2009 12:31pm Aug 18, 2009 12:31pm
Quoting ghous
Guys what's wrong,

All day we've been picking a line or 2 out of a great post and dropped upon it like a tonne of bricks.

I am sure he didn't mean this at all Benji,

Jeez...
lol sorry guys.

I have just went through so many trails to get myself a hope for financial freedom in a way I love doing it (not a job, as jim says).

When I see sentences like that it freaks me out

Cheers

Ben
  • #41,352
  • Aug 18, 2009 12:34pm Aug 18, 2009 12:34pm
Quoting benji533
lol sorry guys.

I have just went through so many trails to get myself a hope for financial freedom in a way I love doing it (not a job, as jim says).

When I see sentences like that it freaks me out

Cheers

Ben
I can understand Ben,

but just so you feel better...

"Yes you can live off trading forex"



Ghous.
I believe . . .
  • #41,353
  • Aug 18, 2009 12:35pm Aug 18, 2009 12:35pm
Quoting james16
here is something i recieved today.

i very very very rarely do this in the free thread.

im doing this to say something.

success is not a destination. its a journey and a damn fun one if you allow it to be.

example?

my "day jobs" are to numerous to list but they are not "jobs". i do the things i enjoy.

i live and breath for challenges in life ladies and gents.

the thrill of victory and the agony of defeat BOTH make me feel alive.

to many people live there lives in the stands watching the game....

You saved the day jim i am out of this whole depression now.

Why do we need to calculate thing about future and convince ourselves and others that it's achievable or not.

Just pick up the rules and take what's offered. As you said it's not a destination it's a journey maybe we are "there" maybe we are "never".

In long term .................... WE'r ALL DEAD.
  • #41,354
  • Aug 18, 2009 12:35pm Aug 18, 2009 12:35pm
Quoting benji533
Anyone looks at those exotic pairs?
Why not trading them? A chart is a chart, PA is PA, isn't it?

Here is a trade I am considering to take if the current bar will close as a pin (like it is now).

with the trend, very clear PPZ ( also in the past), off 60EMA, exact four fib confluence long term 50%, short term 50%,...
I have skipped this trade.
The bar didn't close within the prior bar.

most likely it will take off, but I want only the a++ ones they will come eventually!

Ben
  • #41,355
  • Aug 18, 2009 12:39pm Aug 18, 2009 12:39pm
Quoting james16
lol.

i wonder sometimes if people notice im lurking.

now i know the answer.

jim
i was refreshing you profile for the whole time when i saw replying to thread.LOL
  • #41,356
  • Aug 18, 2009 12:41pm Aug 18, 2009 12:41pm
Quoting ghous
I can understand Ben,

but just so you feel better...

"Yes you can live off trading forex"



Ghous.


LOL
  • #41,357
  • Aug 18, 2009 12:41pm Aug 18, 2009 12:41pm
Quoting james16
lol.
i wonder sometimes if people notice im lurking.
....
You BET!!!
maybe not all notice or expect your presence, but some of us do.
  • #41,358
  • Aug 18, 2009 12:43pm Aug 18, 2009 12:43pm
i got news for you benji my friend.

money makes things easier and thats about it.

whats the greatest thing money ever did for me?

when i finally had some i still felt totally unfullfilled and it triggered a spiritual search in my life and i dont mean religion.

a journey inwards instead of outwards.

im convinced life is just a "school" and im also convinced when its over we will have a good laugh at how silly it was for so many of us to be so neurotic about everything. me included.







Quoting benji533
lol sorry guys.

I have just went through so many trails to get myself a hope for financial freedom in a way I love doing it (not a job, as jim says).

When I see sentences like that it freaks me out

Cheers

Ben
  • #41,359
  • Aug 18, 2009 12:46pm Aug 18, 2009 12:46pm
Quoting james16
i got news for you benji my friend.

money makes things easier and thats about it.

whats the greatest thing money ever did for me?

when i finally had some i still felt totally unfullfilled and it triggered a spiritual search in my life and i dont mean relegion.

a journey inwards instead of outwards.

im convinced life is just a "school" and im also convinced when its over we will have a good laugh at how silly it was for so many of us to be so neurotic about everything. me included.
this is the stuff that keeps me awake night, after night, after night.

Still learning from the big guy here, and will continue too. My favorite posts for sure
  • #41,360
  • Aug 18, 2009 12:54pm Aug 18, 2009 12:54pm
Quoting mbqb11
this is the stuff that keeps me awake night, after night, after night.....

same here....
i'm way past my bedtime (almost 2AM, Manila Time)
Glad it was worth it as i've caught Sir james16 online & posting! wohoooo!

now i can probably sleep better.

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