james16 Chart Thread

you two are nuts

The #1 Rule? =)

Not too sure how the laws differ in the US states, but there're lotsa scum & slim out there. Wouldn't remotely be worth risking you or your family Jim.
(my impression is that you can get sued for any jacksh*t in the US Blame em' Hollywood folk. LOL)

I think this Chart Thread & the PF are more than enough for anyone who is seeking and willing to keep working at it. Why put those dear to you at risk?

Me too James! Mine are slowly opening

Me is needing to move to Texas

that made me laugh my ass off.

im still laughing.

.

don't people get dogs anymore , not things that can eat your dogs

i know and you cant use wild ones. they carry parasites.

2 a month will keep one going fine.

they can live 40 years.

20 is very common.

Ever bred rats Jim? Heard it's pretty simple, crazy things just know 2 things. 1) eat 2) ****

add drink beer in there and sounds like some of my best friends

...

meh ... nothing a good legal disclaimer cant fix

no need. i have big cheese rodent factory right down the road. they sell to breeders and zoos all over the world.

husband and wife own it.

made them very wealthy.

they breed ands sell millions of rats and mice.

Everyone morning I wake up and read the thread.

This was the maddest morning ever.

Jim's live touch trades, Texan self defence law, snakes and what rats to feed them....Mikey's friends....

I haven't laughed or nodded so much in a while. Thanks guys. Feels like old times.

Agree with you totally about protecting your family Jim. I think that's what lifetime pf membership is for. The kind of crazy that's going to risk 50% a trade and then come after you when he strikes out, is not the kind of crazy that's going to stick around 12 months patiently learning. Lifetime membership and a minimum number of posts/an active journal. That'd be a good filter.

And another thing that occurred to me from my own experience.

This thread is like a candy store. We see Jim's teachings, Rac's styles which he hints at, Ryan's laid down an amazing 5M method, and there's breakout plays recently, touch trading. There's so much. I can only tell you what I thought when I came in: Wow if I learn all this stuff there will be a hundred opportunities to trade and I'll be able to make a ton of money. I need to learn how all these guys do it. Let me start it all at once. If I see any kind of entry relating to any of these methods I'll take it.

That can cause a lot of trouble. It set back my learning curve a while, even doing it on demo.

I believe the way to learn this is to pick one method (usually daily/weekly price action) and start trading it knowing you're only going to get 3-5 opportunities a month. Watch everyone trade and yell yee ha at the profits they are making on this thread. Watch Rac post his charts and shake our head in bewilderment and awe. Just watch it all go by.

And know in your head that what you are doing is going to get you there faster than the guy who is trying to learn everything at once.

There are a few things you learn doing it the classic way that you will not learn if you try and do everything at once. The key one is patience. You learn not to be like a dog chasing a car. You have your methods, they are tested, you know they work, and you will trade them to consistent profitability.

The second is psych. People (like me) are guilty of not being profitable on one method/style and assuming that adding a new style to the arsenal will get them over the hump to profitability. There's a world of difference between knowing the basics of PA inside out and trading profitably. Allowing yourself the patience and time to get truly profitable will allow you to focus on the psych issues that are messing up your trade selection and management. I make a ton of mistakes every month on the daily and 4H based on emotions and they impact my profitability. Until they are ironed out, I have decided not to even look at another style. You may be reading this and thinking "I don't make those mistakes". Well I will say that the capacity for a trader to delude him or her self is huge. Make sure there is an arena where every trade is written down and logged (I have a spreadsheet and a journal of every single trade on pf. In my opinion a journal has the most worth when every single trade is logged, not just the ones you are happy to show in public). It'll cast light on your issues and so resolve them quickly. Maybe you take trades too often chasing C setups in hope that they'll work? Maybe you close too early out of fear? Maybe you take too many full bar losses? It is in my opinion impossible to see this if your energies are also focussed on learning Rac, Ryan, and touch trading at the same time.

And the part that a lot of new people don't get (and I count myself in this number when I started a year and a bit ago), is that this is not the slow way to success. It's the quick way. Usually the person following the minimum requirements and focussing on one method at a time will get to consistent profitability with all methods quicker than the person who tries to lear everything at once.

Because learning gets easier. I now look at some of Rac's stuff (some of it is still beyond me), Ryan's stuff, touch plays, breakouts.... and I can understand the basic principles much much quicker. And what i do is write those principles down and put them on a small index card and into my desk drawer. I have a process that any new method will go through involving visual backtesting, forex tester, then forward testing on demo. And the process takes a lot of time, so I know that when I am ready I get to choose one of those cards and blitz it. But only when I have the time and when everything I do already has had a lot of the kinks ironed out. At the moment I am reaching a calm place with what I already now and am thinking which one of the many index cards I am going to choose next. I need to pick wisely, because it'll likely be three months before I can pick up something else from that drawer.

The answer to problems is almost never a new system. New systems are for when we are trading successfully and are bored, not for when we're losing money and looking for ways to get it back.

Trust me, focussing on the basics, building a base of profitability month after month will give you confidence. And that is worth a thousand systems. Then the rest of this more advanced stuff will just seem easier.

Patience brings profitability in trading. Impatience blows accounts.

All this is of course only my opinion and should be taken as such. There are no absolute truths in trading and I hope to avoid sounding like I have any answers. Just a small amount of experience to share.

well all i can say is " don't you people need sleep" lol

any thoughts on this chart? back soon

A LOT of 4 hr bars to analyse.

I just wanted to quickly add while J16 is around - i watched the 1.5 odd hour long "rants" video on the guest vid section at the group and holy pips that is QUALITY.

If anyone hasnt watched it , WTF are u waiting for.

Just wanted to add my own thanks in the long line...

was just thinking the same bundy! esp the yen pairs... it's only a matter of time before we see some general yen weakness and i'd dearly love to be on that train early.

regards

ic

That's a really REALLY good post TiaF. I agree completely with everything you said. Get good,confident and profitable with one thing at a time.

How about this one? GBPJPY 4H beob.

-At minor swing high
-Size bigger than last 10 bars
-From 143.00
-Not major support below before 140.00

[quote=TiaForex;3132292]Everyone morning I wake up and read the thread.

quote]
great post tia!!!

It was funny to read the first part of the post because I have the feeling that I'm reading my own thoughts. I was saying to myself that if I just learn all this differently methods of trading and to apply them to my style and confort I'll have much more opportunities to make money.

I was dreaming in having differently accounts,one for each style and to have one PC for each one to can monitoring all at the same time....lol

this is the reason way I was not posting much this time because I'm reading now for the second time rac's posts, I was so addicted in reading this weeks that I have almost forget to take any trades.

But I monitoriing my chart and look to them and see how the simple knowing of S/R and knowing old support becoming new resistent,and vice versa can make the chart more friendly off reading them.

if you add to the mix PA,round number,fib ret,div, definetly you are putting the odds in your favor.

the more time I spend here reading, the more I have some lights moment like this one:

I never knew the applicability of the 365 and 150 ema, that you have one your charts,but that have been changed after so many hours looking at charts.

Just look at them on your dailys and weekly charts even 4hour, what heppen when they cross and 150 is below 365? and if the 150 is above 365? and what about the angle between them after the cross? what about when we have multiple cross in a very relative short of time? and what about if for eg 150 is above 365 and we have a pretty decent angle between them what is the price likely to do when price approach to the ema

All of this sort of information I'm using only to gauge my,If I'm holding my position for a long term or not,but this is only after looking at ppz,rn..etc.

hope to have time to post more and trigger one trade

Hi Aaron,

I think your post is a reinforcement of how trading should be for everyone. I myself changed many sytems/methods, but only sticking with a method though ups and downs makes you know it and be profitable.

It's human nature to reject something when it's hard, but coming back and overcoming what is hard is the key to succes.
Being profitable at trading to me is like breaking a strong resistance. You visit it many times, break it (make some profit), stay on it (BreakEven) than go under it (lose money) until you finally manage to make it a support in time (become consistently profitable).

Sticking to a method is gone make you profitable in time because you become good at what you do and that is the difference between a new trader and an old timer being damn good at what he does.

Have a nice weekend all!