james16 Chart Thread

Thanks Mike

Got to learn to see the wood for the trees is the lesson here I think. Have a great Thanksgiving - us Brits have to wait until 25/12 for our slice of turkey (do you have turkey again at Christmas? we are pretty turkey'd out by 26/12!)

JS

Hi All

I know I probably will be flamed or even cost me this account (but what the heck) for saying this.

Does giving live trading signals equate with catching a fish for you?
Does giving live trading signals meant that people in this forum will never know how to trade?

All those rants about live signals = spoonfeeding has never been proven justified or true.

Here something about myself and my work. I am a full time FX trader myself working in a investment bank and have never been exposed to FX previously. Through connections and good acadamic results, I have managed to get into this role and been put under a 9 month mentorship under a senior trader.

I am sure there will be some investment bank traders here who have undergone the same mentorship as well. Be it a 9 mth stint or a year or two it doesnt really matter. What matters is that you will be put under strict mentorship, position close to the trader side by side and know about his positions everyday.

I will know when he is eating, when he is taking a bomb, why did he want to enter this trade, why did he cancel his order, why he took profit, why he double his position(on the contary to popular belief about not doubling positions, it is actually quite common to see traders doubling up on profitable positions), why he is having a beer REAL TIME.

I am currently in the 4th month now in my mentorship and I can tell you right now in the face of all the people here that the best mentorship lies in live trading signals AND NOTHING ELSE.

Giving live signals not only proves that the trader is profitable, it gives the apprentice trader (in this case, the forum people) know exactly why did he enter the trade. I know that some people will argue that I do not need to prove myself to be profitable(or for whatever reasons). If that is the case, can I ask why are you in this forum in the first place? Are you trying to teach the other 95% who are not profitable? If this is the truth I can gurantee you that you are among the very few good souls here who genuinely wants to help.

And I can tell you that certainly neither me or my mentor belong to the category of good souls.

My point is, all those after the fact trades does not mean anything. It is just like a photograph of a person who had a huge catch. Do you learn anything about the skill of catching fishes from the photo? (certainly not for me).

An MT4 image of a profitable trade doesnt mean anything except a waste of bandwidth. A trader could have thousands of losing trades which is not captured on this forum before he actually post that one profitable one.

On the contary, how about being by your mentor the whole time? When he is about to throw the bait(enter the trade), he will tell in your face real time(live signal). You will know how he throws the bait and how he reels the fish in.

That certainly is the hallmark to learning how to trade. The only person that I know that give live trading sigals is Jacko. There is certainly no arguement about it that he is really profitable because his trades are live.
AND THIS CERTAINLY DOES NOT MEAN THAT PEOPLE ARE NOT GOING TO LEARN ANYTHING FROM HIM BECAUSE HE SPOONFEEDS.

Ok, enough of my rants. I would like to stress here that it is NEVER my intention to promote Jacko or to pinpoint that anyone here is profitable or not profitable or whatever it is.

But it is certainly my intention to let people know here that nothing beats live trading signals when it comes to learning how to trade.

I am sure there will be some who will disagree with me especially the big guys here but there will be tons here who know that I have hit a raw nerve that what I have said here has some truth.

Pardon me for my english as english is not my first language.

Xtrader88878

Hey Dan

I belive that was Friday pin? Well I for one stoped trading Friday signals on Sunday opens...somehow got burned many times. I don't know, Fridays are sometimes little crazy and if the signal is created from bunch of news coming out, well then I don't trust it completly.

Take note, this is just my personal opinion.

Regards,

4 Months!

Enough said!

The charts posted here by the seniors are the framework of what is to be followed and traded using the J16 PA method.

The rest is simply PATIENCE, DISCIPLINE and controlling our EMOTIONS.

Nobody needs a single live trade to be made to be a success at this business!

Many here have proved that.

Do you have a website yet?
btw. Too bad your Academics did't include Grammer. "working in a investment bank "

Anybody looking at the pin to short 4H U/C? It's got some nice confluence and little traffic below.

Pros
Off 50 & 62 fib confluence
Off prior support now possible resistance (PPZ)
Reverse divergence with RSI

Cons
1.0000 big round number 20 pips below

My plan is to take some off at the round number and let the rest run. Anyone like to comment? If it gets through the round number, it's got some open space to go.

Thanks.

-- Danny

Just watching this UsdChf Pin on 4H.

Pros:
With Trend
Space
Long nose
confluence with 50% fib

Cons
1.0000 round number very close.

Must either move stop very quickly in case of a bounce off the round number or place order below round number.

Anybody else considering this one?

Edit; Bluetrader you beat me to it but looks like we are seeing the same thing here

Hey ljr, don't forget 62 fib confluence and divergence with rsi. LOL. I'm in at 1.0015.

-- Danny

Oh I did my friend and almost to a minute. Perhaps you've missed it.
Five of us sold it. Four of them are still in with full position...

Posts like yours are great encouragement, to use my energy elsewhere.

Se la vie folks!


btw: this guy on a bike was once also under a 9 month mentorship....
no more chinese food for me

Yes my order is in at the same place. Going to watch if price holds below the left eye of the Pin. If it does that is usually a good sign and may be a good place to move stops down to later on.

Thanks Dan, supremeChaos for your opinions


I lost both of my AUDs too Fortunately I scaled out of the positions and only took full bar loss on 50%.

that will be awful, because imho 99,99% of the people here on this thread appreciate your posts. please go on with posting here. it is a pleasure to see your charts.

Well; I guess that's an Ex Trader...

Looks like I missed all the fun today...

It's been a while since we had someone come in to stir the pot. Never seems to happen over in the PF...

I sold GJ from 150.00 with a small stop above the highs like Raczek but I got out much earlier than him (similar to Mike). The I caught another position on a pullback and again got out earlier than I should. Was still an amazing trade but it could have been a lot more had I held the first position all the way down. 20R in fact.

It's just part of trading. I almost never catch the full move, or get it right every time. What matters is getting it right enough to be profitable. And then maximising that with time and experience. I'm getting there.

No, you're wrong. It's more like 100% (trolls don't count...)

Hi all.

AUDUSD
Wanted to see what the Seniors think of this chart.

I have a DBHLC on the Aussie daily chart. Just wanted to know if this is a reasononable one. I won't be trading as its Friday (Sydney) and its also counter trend. (Unless this is the change of the trend he he) I did notice that the daily trendline is close to be broken or has been. Guess it depends on who draws them.


Thanks in advance

A51

I'm also in the nzd/usd weekly outside bar short. stops at break-even.

I hope everyone in the US has had a good Thanksgiving day, and continues to have a great weekend!

Now, it's time for some pumpkin pie...

Four are still in with full position?? wow.

i sold gj a little lower (148.90), i didnt expect the 'medium term' target will get hit this soon (today, 140.20; expected support around 140-ish, see Sept28 & oct7 daily bars). i guess gbp is too weak nowadays.
Letting a trade breathe really helps.

thanks for sharing that "Chinese info". i think these kinds of things are rampant in many countries.
Dead Chickens... crispy & juicy, LOL.

i am just squeezing out some 'juice' from my internet (i discontinued my subscription early today)... so my internet will be cut off anytime from now.

All the best, hope to see you back soon

Took a 1/2 bar loss on this one.